Features

Entrepreneur: Roberta Morlin, women’s health app developer

Roberta Morlin is developing an app that will be able to provide direct medical consultation for women in remote PNG. She explains to Business … [read on ...]

Bobbie Morlin

Survival of Papua New Guinea industry threatened unless greater protection, say business figures

There is a growing call for greater protection of Papua New Guinea industry to respond to allegedly unfair international competition. A number of … [read on ...]

Port Moresby port. Credit: BAI

Papua New Guinea government facing ‘difficult’ cash flow challenge says ADB

The Papua New Guinea government faces challenges in managing its cash flow, according to Yurendra Basnett, PNG Country Economist for the Asian … [read on ...]

PNG's domestic debt repayments. Source: ADB

Manufacturers survey: adapting to tougher economic conditions

Papua New Guinea’s manufacturers experienced difficult conditions in 2015 and many are concerned that things will get worse before they get better. … [read on ...]

SP Brewery's Port Moresby plant. Source: Business Advantage International

Warnings that proposed changes to Papua New Guinea’s Land Act could harm economy

During May, forums were run in Port Moresby, Lae, Mt Hagen and Kokopo to solicit public responses to the Papua New Guinea government's new land … [read on ...]

Land in Papua New Guinea credit BAI

Latest news

Autonomous Bougainville Government likely to take up extra shares in BCL, says Momis

The Autonomous Bougainville Government (ABG) says it is likely to put exploration licences out to international tender as a first step towards restarting the K177 billion Panguna gold and copper mine. Governor John Momis tells Business Advantage PNG he expects the ABG to take up Rio Tinto’s offer of shares, claiming that the national government should pass on the shares it was given by Rio to the ABG.

In brief: InterOil sale may raise competition issues and other business stories

Competition Commission concerned about possible monopoly in gas sector, O’Neill to issue statement on government shareholding in BCL and ANZ Bank CEO says there may be a need for a Supplementary Budget. Your weekly digest of the latest business news.

The battle for InterOil: what’s in it for Papua New Guinea?

Next week, the Papua New Guinea-focused gas explorer InterOil may well have a new owner, after its shareholders consider rival offers from Oil Search and ExxonMobil. Business Advantage PNG considers the implications for PNG’s second gas project, Papua LNG and the wider economy.

Read more News

Mining & petroleum

Autonomous Bougainville Government likely to take up extra shares in BCL, says Momis

The Autonomous Bougainville Government (ABG) says it is likely to put exploration licences out to international tender as a first step towards restarting the K177 billion Panguna gold and copper mine. Governor John Momis tells Business Advantage PNG he expects the ABG to take up Rio Tinto’s offer of shares, claiming that the national government should pass on the shares it was given by Rio to the ABG.

The battle for InterOil: what’s in it for Papua New Guinea?

Next week, the Papua New Guinea-focused gas explorer InterOil may well have a new owner, after its shareholders consider rival offers from Oil Search and ExxonMobil. Business Advantage PNG considers the implications for PNG’s second gas project, Papua LNG and the wider economy.

More on mining and petroleum ...

PNG’s forex crisis

A weaker kina may make sovereign bond raising less risky, says economist

The Papua New Guinea authorities should allow the currency to fall to its market level to make foreign bond raisings less risky says economist Rohan Fox. He tells Business Advantage PNG that domestic banks are reaching the limits of their capacity to take on government debt, which is increasing the pressure to raise capital internationally.

Moody’s bullish on longer term future of Papua New Guinea economy

Moody’s recently downgraded its sovereign rating on Papua New Guinea to B2 from B1. But Christian de Guzman, a Senior Analyst in the Sovereign Risk Group for Moody’s Singapore tells Business Advantage PNG that the agency is ‘quite confident’ about the overall economy’s prospects over the medium-term.

Papua New Guinea’s central bank ‘determined’ to get foreign currency in, says Bakani

The Governor of the Bank of Papua New Guinea, Loi Bakani, told this week’s Australia–Papua New Guinea Business Forum in Cairns that the bank is ‘determined’ to obtain more foreign currency ‘as soon as possible’ to address the backlog in foreign exchange demand. However, he criticised claims that PNG’s foreign exchange problem could be solved by allowing a free float of the kina, reports David James.

Opinion and analysis

Opinion: it is necessary to protect Papua New Guinea’s industries, says Michael Kingston

Papua New Guinea’s industries need to be protected if the nation is to proceed on the path to full industrialisation, says economist Michael Kingston, Chief Executive of manufacturer KK Kingston. He believes PNG can learn from Asia’s record.

Opinion: Proposed Papua New Guinea Land Act changes would harm investment, says Barker

The proposed amendments to Papua New Guinea’s Land Act are a cause for concern, argues the Institute of National Affairs’s Paul Barker. He says, if implemented, the legislation would scare off foreign investors at a time when the Government is looking for capital to encourage economic diversification.

Read more opinion/analysis

Interviews

A weaker kina may make sovereign bond raising less risky, says economist

The Papua New Guinea authorities should allow the currency to fall to its market level to make foreign bond raisings less risky says economist Rohan Fox. He tells Business Advantage PNG that domestic banks are reaching the limits of their capacity to take on government debt, which is increasing the pressure to raise capital internationally.

Entrepreneur: Roberta Morlin, women’s health app developer

Roberta Morlin is developing an app that will be able to provide direct medical consultation for women in remote PNG. She explains to Business Advantage PNG how it would work and the challenges of being a young entrepreneur in PNG.

Infrastructure

Papua New Guinea could attract big cash for infrastructure, says Pascoe

In an environment of plummeting interest rates, long term infrastructure investment is a sound option for both investors and governments. Financial and business commentator Michael Pascoe, speaking in Port Moresby last week, noted that the difficult global financial environment throws up opportunities for countries like Papua New Guinea.

AES preparing for the next economic upturn

The downturn in the Papua New Guinea economy has presented challenges for Avenell Engineering Systems (AES). But Managing Director Dominic Avenell tells Business Advantage PNG that the company has adapted well. AES is, he says, strengthening its capabilities and preparing for the next upturn.

More on infrastructure ...

Company profiles

Meet Kumulsoft, Papua New Guinea’s home grown software developer

Two years ago, Port Moresby based ICT company, Kumulsoft, branched out into writing tailored software products for local companies and government departments. Now they have six major clients on the books, as well as a number of law firms. Partner Marsh Narewec explains their success to Business Advantage PNG.

Goodman Fielder taking a long term view in Papua New Guinea, says chief executive Lejeune

At a time when many companies in Papua New Guinea are cutting back, Goodman Fielder is looking to ramp up its operations. Jean-Michel Lejeune, General Manager at Goodman Fielder PNG, tells Business Advantage PNG how the PNG subsidiary is looking to expand.

Read more profiles ...

Investment/economy

A weaker kina may make sovereign bond raising less risky, says economist

The Papua New Guinea authorities should allow the currency to fall to its market level to make foreign bond raisings less risky says economist Rohan Fox. He tells Business Advantage PNG that domestic banks are reaching the limits of their capacity to take on government debt, which is increasing the pressure to raise capital internationally.

Survival of Papua New Guinea industry threatened unless greater protection, say business figures

There is a growing call for greater protection of Papua New Guinea industry to respond to allegedly unfair international competition. A number of manufacturers tell Business Advantage PNG that most countries have used protectionism to foster their domestic industries and it is time for PNG to do the same.

Papua New Guinea government facing ‘difficult’ cash flow challenge says ADB

The Papua New Guinea government faces challenges in managing its cash flow, according to Yurendra Basnett, PNG Country Economist for the Asian Development Bank (ADB). The ADB’s Outlook 2016 paper on the Asian region says PNG’s debt servicing costs are likely to rise. ‘Cash-flow management is growing more difficult for the government as commercial banks reach their […]

More articles on investment ...

Latest News

Autonomous Bougainville Government likely to take up extra shares in BCL, says Momis

The Autonomous Bougainville Government (ABG) says it is likely to put exploration licences out to international tender as a first step towards restarting the K177 billion Panguna gold and copper mine. Governor John Momis tells Business Advantage PNG he expects the ABG to take up Rio Tinto’s offer of shares, claiming that the national government should pass on the shares it was given by Rio to the ABG.

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Features

Entrepreneur: Roberta Morlin, women’s health app developer

Roberta Morlin is developing an app that will be able to provide direct medical consultation for women in remote PNG. She explains to Business Advantage PNG how it would work and the challenges of being a young entrepreneur in PNG.

Bank South Pacific's expansion to drive growth in Pacific Island economies

The next phase of Bank South Pacific’s (BSP’s) geographical expansion will create new opportunities for the region’s businesses and consumers alike, according to CEO Robin Fleming. [Read more ...]

Opinion

Opinion: it is necessary to protect Papua New Guinea’s industries, says Michael Kingston

Papua New Guinea’s industries need to be protected if the nation is to proceed on the path to full industrialisation, says economist Michael Kingston, Chief Executive of manufacturer KK Kingston. He believes PNG can learn from Asia’s record.

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