By: L.N. Reklai KOROR, Palau (August 20, 2026) — The National Development Bank of Palau’s Board of Directors has decided not to renew the contract of President and CEO David Proctor, with Chief Financial Officer Karla West appointed as acting CEO. NDBP Board Chairman Rhinehart Silas confirmed the decision, saying Proctor’s contract, which expires Aug. […]
Tag: Palau economy
Posted inTop Stories
Palau Draws $45.8M in CRA, Compact Trust Funds Through Third Quarter of FY 2026
By: L.N. Reklai KOROR, Palau (August 10, 2026) — Palau has drawn $45.8 million in funding from the Compact Review Agreement and Compact Trust Fund during the first three quarters of fiscal year 2026, according to the Ministry of Finance’s quarterly report to the Olbiil Era Kelulau. The amount represents about 81.5% of the $56.2 […]
Posted inOpinion
TO THE EDITOR:
Dear Mr. John, My name is Jackson R. Ngiraingas, a person of Peleliu and a registered voter and a former governor of Peleliu State. I am also a traditional title bearer of the 4th clan of one of the five hamlets of Peleliu. I am also one of the Plaintiffs in a civil case in […]
Posted inTop Stories
WCTC to Close Desekel Mart as Lease Talks Collapse
By: Eoghan Olkeriil Ngirudelsang KOROR, Palau (July 16, 2026) — Western Caroline Trading Company (WCTC) announced this week that its Desekel Mart branch in Ngerbeched will permanently close on July 31, ending years of service to customers in the community. WCTC’s Desekel Mart and Hotel in Ngerbeched, Koror will be closing its doors permanently on […]
Posted inPacific News
ADB Sees Slower Growth for Asia and the Pacific in 2026 Amid Global Energy Crisis
MANILA, PHILIPPINES (8 July 2026) — The Asian Development Bank (ADB) has lowered its growth forecast for developing Asia and the Pacific economies to 4.9% for 2026 compared to 5.5% growth in 2025. This is a reduction of 0.2 percentage points from April projections. Prolonged disruptions to energy markets caused by the Middle East conflict […]
Posted inTop Stories
Palau eyes savings bond program to boost local investment and economic growth
Japanese economist says new program could fund businesses, infrastructure and future savings while reducing reliance on overseas borrowing. By: L.N. Reklai KOROR, Palau — A proposed Savings Bond Program could help keep more money circulating within Palau, provide affordable financing for local businesses and infrastructure projects, and encourage residents to save for retirement and education, […]