Fiji Sun : 2020-07-15

BIG STORY : 11 : 11

BIG STORY

sunbiz 11 FIJI SUN WEDNESDAY, JULY 15, 2020 Maraia Vula Managing Editor Business M: (679) 9027 634 Email: maraia.vula@fijisun.com.fj must read MOVEMENT MARKETS STRI: 8124.64ì Stock Moves $ Close Stock Moves $ Close March next year. Pulling of all internatio­nal inventory comes weeks after Group chief executive officer Alan Joyce announced that services overseas wouldn’t likely resume for another 12 months. The closing of flights and QANTAS CANCELS ALL INTERNATIO­NAL FLIGHTS UNTIL MARCH 2021 Stock Moves $ Close FTV KFL KGF PBF PBP PDM PGI 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.51 0.98 1.12 28.00 2.85 2.39 1.08 RBG RCF TTS VBH VIL FHL BCN +0.01 +0.49 0.00 0.00 0.00 0.00 0.00 3.62 11.00 15.00 6.50 3.65 1.18 27.50 APP ATH CFL FBL FIL FMF 0.00 +0.05 0.00 0.00 0.00 0.00 1.75 2.00 6.22 3.20 4.50 2.12 Australia’s national carrier, Qantas, has removed internatio­nal flight bookings -- bar New Zealand -- until the end of Trading on the SPX for the day ending July 14, 2020. STRI closing on July 14, 2020. must read FIJI AIRWAYS FURTHER EXTENDS FLIGHT CANCELLATI­ONS TO END OF AUGUST Fiji Airways, Fiji’s national airline, has extended internatio­nal flight cancellati­ons through to the end of August. The continued cancellati­ons are due to prolonged border closures and travel restrictio­ns as a consequenc­e of the COVID-19 Pandemic. While the current internatio­nal schedule for August is cancelled, the airline is preparing a new network plan which will be announced once border restrictio­ns ease. Fiji Airways managing director and chief executive officer Andre Viljoe said: “The cancellati­on of August services allows us to prepare and position a new updated internatio­nal schedule for deployment as soon as practical. “Whether this will be in August remains to be seen. However, we are encounrage­d by the recent move to ‘Phase 2’ for Fiji in its response to COVID-19, as well as a travel framework which allows for the creation of specific ‘air corridors’ with certain countries. “One such corridor under the framework is the ‘Bula Bubble with our traditiona­l markets Australia and New Zealand. “This framework provides a clear path forward for the two countries to seriously consider opening borders to Fiji, thereby stimulatin­g travel demand. “Fiji Airways is leading an Industry Taskforce alongside Fijian health authoritie­s to satisfy all requiremen­ts for safe internatio­nal flying under the Government’s framework.” Mr. Viljoen adds that a new network plan for internatio­nal services will see reduced flying and limited destinatio­ns internatio­nally, as the world reels from the economic impact of the COVID-19 pandemic. Fiji Airways is contacting impacted guests who are booked to travel in August. Guests booked through travel agents and third parties will be contacted by those parties. Fiji Airways’ freighter flights and Fiji Link domestic services will continue to operate. $12.4M Bonus Payout For Policy Holders LAISEANA NASIGA SUVA M ore than $12 million in bonus was paid to policy holders with Life Insurance Corporatio­n of India (LICI) for the end in the financial year 2019, it was announced yesterday. This is a 3.30 per cent increase from 2018 which recorded $12.02m while 2017 was $11.11m. LICI paid over $68m as claim payments to its policyhold­ers during the year. Claim payments This included maturity payments, survival payments (in money back) and extended disability benefit. LICI has also paid nearly $4m as death claim payments to the families of the bread winners. LICI general manager YS Ashok said as one of the leading insurance provider in Fiji the company has also invested $.652m into Fiji’s infastruct­ure developmen­t. “During the year 2019, LICI recorded nearly 10,000 new policies and the total number of policy holders are about 68,000,” he said. Bonus rate This year LICI increased its bonus rate in two plans such as double bula gold and aspire -new money back children’s assurance plan. “The bonus rate per thousand sum assured ranges from $30 to $60 for the various insurance plans. “LICI also rewards policy holders with final additional bonus on policies maturing with tenures of 15years or more. Habit of saving Mr Ashok said while LICI caters diffrent policies for different needs customers, it was essential that the habit of saving and life insurance is cultivated among Fijians. He said the announceme­nt of the bonus payout was a reflection of thhe policy products LICI offers to Fiji’s polciy holders. Source: Fiji Airways Feedback: laiseana.nasiga@fijisun.com.fj

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