Economy (31)

DILI: Findings from a macroeconomic report warn that the biggest risk to Timor-Leste’s economic growth outlook over the next 12 months is the nation’s on-going political instability.

Comment

DILI: The Ministry of Social Solidarity has made available 900 tonnes of subsidised rice for rice-growing farming families in districts where crops were destroyed last year, as national rice prices soar by up to 50 per cent.

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DILI: Woodside Petroleum has flagged interest in investing in the offshore gas production part of the Greater Sunrise Joint venture in the Timor Sea but not the onshore gas plant, according to the Australian Pipeliner.

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DILI: Business owner Oscar Lima has been reelected as president of the Chamber of Commerce Timor-Leste (CCI-TL), opening the way for him to lead the private business representative body until 2022.

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DILI: Timor-Leste faces a period of greater unity amongst political parties after the government’s 2018 State Budget gained unanimous support in parliament on Friday, according to Prime Minister Taur Matan Ruak.

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DILI: Dionesio Babo, the Minister for Foreign Trade and Cooperatives, has delivered a stark warning that some of Timor-Leste’s foreign-based embassies risk closure because of unpaid debts.

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DILI: Oil has been discovered in four of the 12 onshore exploration wells in the south coast of Timor-Leste, according to Timor Resources Managing Director Suellen Osborne.

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Dili: The Alliance for Change and Progress (AMP) government has secured USD$1.2 million to construct a heavy duty road from Dili to Tibar, a transport link it says is critical to improving the flow of goods in and out of the county.

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DILI: Timor-Leste’s parliament has voted in favour of withdrawing US$140 million from the nation’s Petroleum Fund to finance government activities over the next two months.

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DILI: The parliament has approved a proposal from the government in the Petroleum Fund money-raising during which to finance government activities during July and August for a total of 140 million USD.

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DILI: The National Hospital Director has said Timor-Leste’s State health funds will be used up by the end of July, a casualty of the on-going political stalemate in the Ministry of Health portfolio.

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