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American among 7 tourists hospitalized after drinking cocktails at 5-star Fiji resort
Seven foreign tourists, including an American, were hospitalized in Fiji after drinking cocktails at a resort bar, Fijian authorities said on Monday, just weeks after six tourists died of suspected alcohol poisoning in a separate incident in Laos.
All seven were taken to hospital on Saturday night suffering from “nausea, vomiting and neurological symptoms,” according to Fiji’s health ministry.
They fell ill after drinking pina colada cocktails prepared at a bar in the five-star Warwick Fiji resort on the Coral Coast, about 45 miles west of the capital Suva, officials said.
A health ministry spokesperson said the seven guests, aged from 18 to 56, included four Australians, one American and two others whose nationalities were not given.
One of the patients had been discharged Sunday from the Sigatoka Hospital near the hotel, said the tourism minister, Viliame Gavoka.
The other six were transferred to the larger Lautoka Hospital on the island’s west coast, he said, with two of them released earlier Monday and another two set to leave later in the day.
LEON LORDLEON LORD/AFP via Getty Images
The two patients remaining in Lautoka Hospital were in a “stable condition” in intensive care, he told a news conference.
David Sandoe, an Australian man who said his daughter and granddaughter were hospitalized, told Sky News Australia that his relatives had been released from the hospital and were due to fly home on Monday night.
Fiji’s health ministry and police force were investigating the cause, Gavoka said, adding that results from “critical” toxicology tests normally take three or four days.
“Everyone is in a state of disbelief that this has happened,” he said.
Asked whether the illness might be related to methanol poisoning, Gavoka said that was “something that we don’t believe is possible in Fiji.”
While declining to speculate about the cause, he said it was a “very isolated incident.”
Fijian tourism, which attracts close to a million people each year, was “typically very safe,” he said.
The minister said he did not believe it was the result of any deliberate action.
The hotel bar involved was “very busy” on the evening, he added, but only seven people were sickened by the pina coladas, which were normally “pretty harmless”.
A spokesperson for the Warwick Fiji hotel said it was conducting an investigation and waiting for test results from the health authorities.
“At this moment, we do not have conclusive details, but we are committed to ensuring the safety and well-being of our guests,” the spokesperson said.
Australia’s foreign ministry said it was providing consular assistance to two families but declined further comment citing “privacy obligations”.
In a separate incident in Laos last month, two Danish citizens, an American, a Briton and two Australians died of suspected methanol poisoning following what local media said was a night out in the town of Vang Vieng. The victims include Briton Simone White, 28, two young Australians, Holly Bowles and her best friend Bianca Jones, and two young Danish women, Anne-Sofie Orkild Coyman and Freja Vennervald Sorensen, the BBC reported. Only one of the victims, 57-year-old U.S. citizen James Louis Hutson, was male.
Police detained the 34-year-old manager of the Nana Backpacker Hostel and seven other employees for interrogation.
The Associated Press contributed to this report.
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There are many downsides to high interest rates, but one bright side is that elevated rates can make it easier to earn more money on your savings. For example, certificate of deposit (CD) interest rates and other interest-bearing account rates are closely linked to the federal funds rate. As a result, when the Federal Reserve raises the benchmark interest rate, most banks and credit unions raise rates on savings accounts, money market accounts and CD accounts.
During the pandemic, the Fed slashed interest rates to nearly zero, and the APY on CD accounts dropped as well. In June 2021, the average 12-month CD rate was just 0.12%. But from March 2022 to July 2023, the Federal Reserve raised interest rates 11 times, and by September 2023, the average APY for a 1-year CD shot up to 1.78% — and some of the best CD rates exceeded 5.50%.
However, in the second half of 2024, the Fed lowered the benchmark interest rate several times, and CD interest rates dropped once again — and many analysts expect the Fed to cut rates again in 2025. Given these expectations, is there a chance that CD rates could increase next year or will they fall further?
Find out what top CD rates are available to you now.
Will CD interest rates rise again in 2025? Experts weigh in
These recent shifts have left many people wondering what the new year holds for CD rates. To find out more about what the CD interest rate trends could be in 2025, we asked several experts to weigh in with their opinions.
Yes, CD interest rates may rise again in 2025
Aaron Cirksena, CEO of MDRN Capital, says that CD rates in 2025 will largely hinge on whether the Federal Reserve raises or lowers interest rates.
“If inflation stays high or the economy keeps growing steadily, the Fed might hold or raise rates, which could push CD rates higher,” Cirksena says. “But, if the economy slows and rates are cut, CD yields could drop.”
However, the federal funds rate is one of several factors that influence CD rates. Competition among banks also plays an important role. When banks are looking to increase their deposits, they often increase the APY on high-yield savings accounts and CDs in hopes of attracting more customers. So regardless of what happens with the economy, you should still be on the lookout for CD bonus offers.
“Keep an eye on those, it’s still a smart way to boost your return and keep your money safe,” Cirksena added.
Compare today’s best CD rates and start earning more interest today.
No, CD interest rates won’t rise again in 2025
According to Robert Johnson, chairman and CEO of the Economic Index Associates, it’s unlikely that CD rates will rise in 2025.
“The outlook for CD rates is bearish, as the overwhelming sentiment of market participants is that rates will be markedly lower in the coming year than they are today,” he says.
While there isn’t a perfect correlation between the Federal Reserve interest rates and CD rates, the Fed strongly influences CD rates. In general, CD rates move in the same direction as changes in the fed funds rate.
“My advice to CD investors is to prepare for lower rates in 2025,” Johnson says.
When is the best time to open a CD account?
CDs can be a good option for anyone saving for a shorter-term financial goal, like a down payment on a house. They’re a low-risk investment, and because you agree to a specific CD term, it’s a good way to keep your money out of sight until you’re ready to use it.
And unlike high-yield savings accounts, which have variable interest rates, when you open a CD, you lock in that rate for the full CD term. CD terms can range in length from three months to five years or more, and if you withdraw the funds early, you’ll get hit with an early withdrawal penalty. But if you leave the money for the full term, you’ll receive a guaranteed return once the CD reaches maturity.
The best time to open a CD account is usually when interest rates are high. Currently, the national average for a 1-year CD is 1.74%, but you can find APYs as high as 4.50% right now, depending on the term and other factors.
The bottom line
Whether or not CD rates will climb next year depends on a wide range of variables, and with so many unknowns looming, it’s tough to determine what exactly will happen over time. So, if you’re interested in opening a CD, this may be a good time to lock in a high interest rate. If you wait too long, these rates could drop in the coming year if interest rates are lowered by the Fed.
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Will CD interest rates rise again in 2025? Experts weigh in