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The Bank of Papua New Guinea formally launched the Kina and Toea Exhibition, a display celebrating the nation’s rich financial historical past and the 50th anniversary of Papua New Guinea’s forex. This occasion, held as part of the Bank’s fiftieth anniversary celebrations, coincides with the upcoming fiftieth anniversary of PNG’s independence in 2025. The Kina and Toea Exhibition was launched on 29 August and continued from 30 August to 6 September 2024 on the National Museum & Art Gallery in Port Moresby. The exhibition supplied a possibility to explore the fascinating history of PNG currency and its distinctive place within the nation’s development. Displaying cultural richness and diversity, attendees have been reminded of the significance of currency as a reflection of PNG id, values, and traditions.

“Deeply embedded in our traditions and cultural practices, shell cash additionally represented social status, and it was utilized in marriages, deaths, and other vital ceremonies and events,” Genia defined. The arrival of colonisers marked a turning level in the country’s financial historical past, resulting in the introduction of up to date currencies on 19 April 1975. “These modern currencies served as both financial devices and national emblems of our independence and unity as a nation,” Genia famous. She supplied insights into the cultural significance of the Kina and Toea, explaining that the word “Kina” is present in both the Pidgin and Kuanua languages and describes the priceless pearl shell extensively traded in PNG’s Highlands and Coastal areas. Similarly, “Toea” refers to a useful kind of shell used in trade and conventional bride worth ceremonies in the Motuan Coastal villages.

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Statistics Canada says the nation posted a merchandise commerce deficit of $1.1 billion in August as lower oil costs weighed on exports. A new report mentioned the damage charges in warehousing and delivery grew “significantly faster” than the rate throughout industries. All the content material on this web site is copyright protected and could be reproduced solely by giving the due courtesy to ‘ft.lk’ Copyright © 2004 Wijeya Newspapers Ltd. The firm stated by the early 2030s it will Business News contribute nearly half of the projected electric battery manufacturing capacity required for the UK automotive sector. “We have a mantra to go native first, so our precedence is to make use of native businesses and native folks as a half of our development,” he stated. October 2, 2024 • TikTok might start shutting down in the U.S. as soon as January 19 of subsequent 12 months.

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