In This Issue

MARA’S RUSSIAN GAMBIT: The Fiji Prime Minister rocked 20 the region when he announced that Fiji might be willing to negotiate a fishery agreement with the Soviet Union, including a deal on shore facilities. We examine the background to the Soviet effort in the Pacific and interview a Russian diplomat involved in the negotiations.

WINGTI CAMPAIGN: PNG Prime Minister Paias Wingti, “|8 approaching an election year, hits the campaign trail. In a wide ranging interview, he tells of his achievements and his hopes for the future.

LANDMARK JUDGMENT: The Mormon Church lost its legal Q argument over land in Samoa. We background the discussion in the US courts and interview Congressman Sunia, who sees the decision as upholding the Samoan way without necessarily reflecting badly on the church.

HOPES FOR OIL FIND: The first commercial oil discovery in 23 the islands region could be a stage closer as drilling continues

in the PNG highlands. If the field proves viable, it would have a spectacular impact on the local economy.

AIR PACIFIC TURNS A CORNER: The financially troubled 25 carrier is now back on course and expects to break even this year. In an interview, the financial director reveals the steps taken to achieve the remarkable turnaround and hints at future prospects.

BIGGEST SHARE FLOAT: Mining giant Placer Developments 27 launches its share float for Placer Pacific, to contain nearly all its island mining interests including the huge Porgera resource in PNG, in Sydney and Port Moresby. The issue was oversubscribed within days. We look at the new company’s prospects.

DEBTOR NATION: The Republic of Palau has joined the ranks 1 O of Third World debtor nations after plans for a self-financing power facility went badly wrong. We have a report on the background to the fiasco that has seen the republic on the receiving end of court demands from the international banking community.