Reported by Star-Bulletin staff & wire
Tuesday, May 19, 1998
Bankoh completes two S. Pacific acquisitions
Bank of Hawaii said today it has concluded its purchase of full ownership of a bank in Tahiti and 70 percent of another in New Caledonia.The bank, a subsidiary of Pacific Century Financial Corp., announced last June that it had agreed to buy control of the banks in French Polynesia from Paribas, the French holding company.
The terms were not disclosed. The Tahiti operation, Banque Paribas Polynesie, will be integrated into Bank of Hawaii's Banque de Tahiti, adding one branch. The New Caledonia operation will merge into Bank of Hawaii-Nouvelle Caledonie, adding three branches.
Discover Hawaii sets up travel-industry Web site
Discover Hawaii, a Hawaii travel guide subsidiary of Hawaii Business Publishing Co., has launched a new Hawaii travel Internet site with almost 2,000 listing of Hawaii accommodations, attractions, goods and services.The site at http://www.discoverhawaii.com is supported by advertisers and offers its listings free to businesses of any size, said George Engebretson, Discover Hawaii publisher. The new Web site also contains the on-line version of the company's Discover Hawaii Travel Planner.
Japan economy poised for rebound, exec says
TOKYO -- The head of Japan's leading business lobby said today the nation's economy is poised for a rebound after years of sluggish growth.At a news conference, Toyota Motor Corp. Chairman Shoichiro Toyoda said he regretted the anemic state of the economy as he prepares to leave his post as chief of the Japan Federation of Economic Organizations (Keidanren).
Toyoda will be replaced as head of the business lobby by Takashi Imai, chairman of Nippon Steel Corp.
But unlike some top Japanese executives who have warned of dire straits, Toyoda predicted better times ahead, though the rebound will take time.
Last month, Sony Corp. Chairman Norio Ohga stunned the world with his blunt assessment of the Japanese economy, saying it was "on the verge of collapsing."
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