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The exhibition supplied an opportunity to explore the fascinating historical past of PNG currency and its distinctive place in the nation’s development. Displaying cultural richness and variety, attendees had been reminded of the importance of foreign money as a reflection of PNG identity, values, and traditions. The Assistant Governor of Corporate Affairs, Mr Ron Sikar, gave the opening speech and officially declared the exhibition open on behalf of the Governor of BPNG, Elizabeth Genia, in her absence. “It is an honour to stand before you today as we open the Kina and Toea Exhibition, a showcase of our nation’s wealthy and evolving economic history as part of the Bank’s 50th anniversary celebrations,” Governor Genia stated.

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The arrival of colonisers marked a turning point within the nation’s economic historical past, leading to the introduction of contemporary currencies on 19 April 1975. “These up to date currencies served as each financial instruments and nationwide emblems of our independence and unity as a nation,” Genia famous. She offered 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 value ceremonies in the Motuan Coastal villages. Governor Genia expressed the Bank’s ongoing dedication to maintaining belief and confidence in bodily forex, at the equal time as international tendencies shift towards digital currencies and electronic funds.

The ASX200 fell 0.7 per cent on Friday after Joe Biden made a casual remark suggesting Israel would possibly assault Iran’s oilfields. The ASX200 has finished 0.1 per cent greater, with Rio Tinto announcing after the market closed that it will pay $10 billion to acquire Arcadium Lithium. The Indian unit of the Korean carmaker is reportedly providing a reduction of Rs 186 per share to eligible workers in the IPO.

Orlando’s tourism machine has begun grinding to a halt forward of Hurricane Milton’s anticipated hit as a major storm in Florida. The Honolulu Medical Examiner’s Office hopes the arrival of its first new deputy in 5 years will assist it winnow down the time it takes to finalize stories, which has mounted as a outcome of increasing caseloads and workers shortages. The U.S. Department of Justice is contemplating Business News asking a federal decide to drive Google to promote elements of its business in order to remove its online search monopoly. Executive Editor Julie Pace brings you behind the scenes of the AP newsroom. Our flagship newsletter breaks down the biggest headlines of the day.