AGP Executive Report
Last update: 11 hours agoTourism: South Korean honeymoon travel to Guam and Saipan has slumped, with rising costs, a weak won, typhoons and aging infrastructure cited as factors. Guam’s South Korean arrivals were down 35.4% through September from a year earlier. Energy Investment: Eastern Power Solutions has a signed CUC agreement for a project it says will bring about $250 million and nearly 150 jobs to the CNMI, supplying 72 megawatts across Saipan, Tinian and Rota by 2028. Power Costs: Local bidder AP Energy says its unopened bid offered power at 14.9 cents per kilowatt-hour, below EPS’s 18.5-cent rate, and claims the difference could save ratepayers $135 million; the dispute is subject to court proceedings. Business Operations: CUC is choosing a new provider to restore online and phone bill payments, offline since Nov. 2, and hopes to resume service within two weeks. Investment Climate: CNMI Investment LLC says restrictions in its newly signed tax incentive agreement could undermine its proposed pharmaceutical manufacturing project on Saipan. Air Travel: The Commonwealth Ports Authority says CNMI flights continued normally during the FAA’s mainland ground stop.
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