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Shells, significantly the Kina and Toea, weren’t only mediums of trade but also symbols of wealth, social status, and cultural practices. “Deeply embedded in our traditions and cultural practices, shell cash also 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 point within the country’s financial history, leading to the introduction of up to date currencies on 19 April 1975. “These contemporary currencies served as both economic instruments and national emblems of our independence and unity as a nation,” Genia noted. She offered insights into the cultural significance of the Kina and Toea, explaining that the word “Kina” is found in both the Pidgin and Kuanua languages and describes the priceless pearl shell extensively traded in PNG’s Highlands and Coastal areas.

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Similarly, “Toea” refers to a valuable sort of shell used in trade and traditional bride value ceremonies within the Motuan Coastal villages. Governor Genia expressed the Bank’s ongoing dedication to maintaining belief and confidence in physical foreign money, even as global trends shift in the course of digital currencies and electronic funds. “This exhibition supplies a singular alternative to reflect and appreciate how far we’ve come and to contemplate how we will proceed to honour our heritage whereas embracing the longer term,” she said. 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 formed the country’s economic system. The launch was attended by distinguished guests, partners, stakeholders, the staff and management of BPNG, and the media.

An activist and municipal councilor for a Hungarian opposition get together disrupted a news convention in the French city of Strasbourg, as Prime Minister Viktor Orbán was laying out plans for Hungary’s presidency of the European Union. Orlando’s tourism machine has begun grinding to a halt ahead of Hurricane Milton’s anticipated hit as a significant storm in Florida. The Honolulu Medical Examiner’s Office hopes the arrival of its first new deputy in five years will assist it winnow down the time it takes to finalize reviews, which has mounted because of increasing caseloads and staff shortages. President Joe Biden is warning airways and other firms not to overcharge people who are attempting to get out of the path of Hurricane Milton.

Realtor.com broke down the highest 10 actual estate markets which are more likely to see the most impact from falling mortgage charges. Wall Street’s benchmarks finished up on Tuesday, recouping a number of the previous session’s losses, as buyers purchased back in to expertise shares and investors shifted their focus to approaching inflation information and the beginning of third-quarter earnings season. Global funding agency Fidelity has cut back the worth of its holding in Elon Musk-run X by a massive 78.7 per cent, which suggests that the X social media platform is probably going valued at simply $9.4 billion. The oil advertising firms on Tuesday introduced a hike within the costs of business LPG gasoline cylinders, effective from today , based on the sources. Retirement village residents and their families have backed calls for harder regulation of the sector, with one saying contracts should carry a cigarette-style monetary well being warning and another saying the trade is a “black gap”. The minimum income needed to buy a house in Canada lowered in July, based on a new report that cites dropping mortgage charges and reducing common home costs.