Palau Roundup: Helen Reef profits, improved flight routes, blockchain bonds
New Indian ambassador
Harsh Kumar Jain, currently India's ambassador to the Philippines, has been concurrently accredited as India's next ambassador to Palau, as announced by the Ministry of External Affairs on October 14. Jain, who joined the Indian Foreign Service in 1993, has previously served as ambassador to Ukraine, Slovakia, and Kazakhstan, and held various positions in foreign missions and MEA divisions. He is expected to take up his new assignment shortly at his residence in Manila, ANI reports.
United Airlines changes routes
United Airlines will launch year-round, nonstop flights from Tokyo/Narita to Koror, Palau, starting May 2025. This will be the only direct service a U.S. carrier offers between Japan and Palau, enhancing United's existing routes to Guam and Manila. According to IB, Palauan officials, including President Surangel Whipps Jr. and Minister Ngirai Tmetuchl, have emphasised the significance of this route for tourism, particularly in reconnecting with the key Japanese market. The announcement comes as Palau's tourism sector works to recover from COVID-19 impacts, with Japan being a crucial source of visitors. Additionally, Japan Airlines plans to offer charter flights to Palau beginning in March 2025.
Qantas boosts operations
Qantas is expanding its operations to meet growing demand in the Asia-Pacific and US markets. Starting February 2025, the airline will launch a new Brisbane-Palau route and introduce approximately 220,000 additional seats over 12 months. The capacity to the US will increase by 13% with the return of A380 Super Jumbos and the reintroduction of Boeing 787 Dreamliners on select routes. Qantas is discontinuing its Sydney-Seoul service on June 14, 2025, while Jetstar will increase its flights to this destination. Additionally, Newscop reports that QantasLink will debut A220 aircraft on international flights from Darwin to Singapore starting March 30, 2025. Other updates include frequency changes on various US and Pacific routes. Qantas CEO Cam Wallace emphasized that these changes align with the airline's fleet renewal program and dual brand strategy.
Blockchain bonds
Palau has launched blockchain savings bonds, called Palau Invest, in partnership with Tokyo-based Soramitsu to raise capital for infrastructure projects. The initiative aims to reduce capital outflow and encourage local investment, with a prototype system allowing investors to learn about the bond process before full launch. The bonds will be issued on a Hyperledger Iroha 2-based network, as reported by Coin Geek. In Germany, WIBank issued a €5 million blockchain bond, utilizing a settlement system (Trigger) that connects the tokenized asset on a public blockchain to traditional payment infrastructure. This bond, settled via central bank money, minimises risks and highlights the potential of integrating blockchain with conventional channels. While blockchain bonds are gaining traction globally, they remain a niche market with limited participation.
Helen Reef struggles with poaching
A small group of rangers protect Helen Reef, a remote and biodiverse atoll in Palau, facing challenges like limited gas and drinking water, and rising sea levels. Despite these hardships, they enjoy exclusive fishing rights. The 40-square-mile reef hosts a variety of marine life, including Napoleon wrasse, bumphead parrotfish, and hawksbill sea turtles. Helen Island, part of the atoll, is a haven for birds and nesting green sea turtles, reports ABC News.
