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“These up to date currencies served as each financial devices and nationwide emblems of our independence and unity as a nation,” Genia noted. She provided insights into the cultural significance of the Kina and Toea, explaining that the word “Kina” is present in each the Pidgin and Kuanua languages and describes the priceless pearl shell extensively traded in PNG’s Highlands and Coastal regions. Similarly, “Toea” refers to a useful sort of shell utilized in trade and conventional bride worth ceremonies in the Motuan Coastal villages. Governor Genia expressed the Bank’s ongoing dedication to sustaining trust and confidence in bodily foreign money, at the identical time as international tendencies shift in the direction of digital currencies and electronic payments. “This exhibition offers a unique opportunity to mirror and recognize how far we now have come and to consider how we will continue to honour our heritage whereas embracing the longer term,” she stated. The exhibition was designed to take attendees on a journey through PNG’s historical past, showcasing pictures of rare artefacts, coins, and notes that have shaped the country’s economy.
Google Must Open Android to Other App Stores and Billing Options, Judge RulesThe internet large was ordered by a federal decide to make a sequence of modifications to deal with its anticompetitive conduct. How to Say No to Our A.I. OverlordsGoogle, Microsoft and Meta are shoving A.I. By City AMChannel 4 stories document loss amid ‘challenging year’ for UK broadcasterThe UK’s Channel 4 has reported a record loss as it was hit by a “robust cyclical TV promoting downturn” however mentioned it was starting to stabilise. Cabinet Secretary of the Economy Rebecca Evans has vowed to make sure a pro-business, pro-worker surroundings that supports innovation, analysis and high-quality jobs.
The S&P 500 has sputtered to a report high shut, rebounding from a short setback after Federal Reserve chair Jerome Powell stated the US central bank is in no hurry to implement additional rate of interest cuts. The ASX200 dropped zero.7 per cent, snapping a three-day win streak after Fed chairman Jerome Powell mentioned the US central bank was in no rush to chop rates of interest. New Zealand’s central bank cuts charges by zero.5 proportion points, and economists say more cuts are coming. A new report says August rental rates fell in some of Canada’s largest and priciest markets to proceed a months-long pattern whereas costs rose in smaller markets. FTX received court docket approval of its chapter plan on Monday, which can allow it to totally repay clients using up to US$16.5 billion in belongings recovered for the reason that once-leading crypto exchange collapsed. Consumer confidence, retail sales recuperate from Delta influence As the year-end vacation season approaches, the two indicators point to elevated household spending, which has lengthy been a key driver of economic exercise within the nation.
Shells, particularly the Kina and Toea, weren’t solely mediums of commerce but also symbols of wealth, social standing, and cultural practices. “Deeply embedded in our traditions and cultural practices, shell money additionally represented social standing, and it was utilized in marriages, deaths, and other important ceremonies and events,” Genia explained. The arrival of colonisers marked a turning point in the nation’s economic history, leading to the introduction of latest currencies on 19 April 1975.
The arrest got here amid but extra high-profile departures from Adams’ administration as federal prosecutors delve deeper into allegations that the mayor was involved in a coverup. Florida gas stations struggled to keep up with demand Tuesday as long lines and empty pumps compounded the stress for residents planning to hunker down or flee as Hurricane Milton approached the state’s western coast. The Dominican Republic said Tuesday it has deported or repatriated nearly eleven,000 Haitians in the past week, fulfilling a pledge to take action weekly as neighboring Haiti scrambles to handle the influx while besieged by gang violence and poverty. On September 11, Madeleine Gervais was the sufferer of a theft in Ottawa’s west end. It happened in the Loblaws car parking zone in College Square, when she was approached by a person and a woman who insisted to help her load her groceries into her car. The British Columbia government is capping the maximum allowable lease increase at three per cent next year, down from the three.5 per cent hike allowed in 2024.