Features

Hotel investments transforming Port Moresby into regional conference venue

By the time of the APEC Summit in 2018, Port Moresby could have as many as 2590 high-end hotel rooms, and conference capacity for many thousands. … [read on ...]

Stanley lobby

Demand for affordable housing sees price rises, according to Papua New Guinea property survey

Demand for residential houses among the growing urban population, especially in Port Moresby, has increased but the supply of quality and affordable … [read on ...]

New housing in the outer Port Moresby suburb of Baruni Credit: BAI

Business Advantage Boardroom, Episode 1: Papua New Guinea’s top bankers discuss the financial services sector

Papua New Guinea's top bankers discuss the kina, foreign exchange shortages, finance for business and the future of banking services with Business … [read on ...]

Business Advantage Boardroom panelists

What’s behind Papua New Guinea’s supplementary budget?

The Papua New Guinea Government has released its 2016 Supplementary Budget to adjust to ‘tough’ economic conditions. It assumes lower economic growth, … [read on ...]

Port Moresby town. Source: Business Advantage International

Industry diversification a must, say ADB and Manufacturers Council

The economic and financial stresses being experienced in the PNG economy are in part due to the narrowness of the industry base, according to a report … [read on ...]

LNG ship feature

Latest news

Tributes for Sir Mick Curtain, ‘promoter of Papua New Guinea’s potential’

The late Sir Mick Curtain should be remembered for many of the infrastructure projects in Papua New Guinea that were undertaken over the last 50 years, according to Prime Minister, Peter O’Neill.

Asian Development Bank puts case for greater private involvement in state-owned enterprises

Increasing private sector involvement in Papua New Guinea’s state-owned enterprises (SOEs) would be a ‘powerful mechanism’ for improving the sector’s efficiency, according to a new report by the Asian Development Bank.

Improved banking services held back by high internet prices, say bankers

The potential for improved financial and other services delivered via the internet in Papua New Guinea is high, the nation’s top bankers tell Business Advantage PNG. But costs have to fall first.

Read more News

Mining & petroleum

Oil up, gas down and palm oil surging: a monthly review of commodity prices and financial markets

Palm oil was the biggest mover in the month, while gold, coffee and oil prices remain strong. Gas prices, however, continue to be weak and in the currency markets, the kina continues its slide against the yen. Business Advantage PNG’s monthly overview of commodity and financial markets.

What is stopping Papua New Guinea’s Panguna mine from re-opening?

The government of Bougainville wants to put the operation of the giant Panguna copper mine out to international tender as soon as possible, President John Momis tells Business Advantage PNG. But key considerations, including the exploration licence, the equity structure, landowner rights and dividends and the rehabilitation of the mine must be decided first.

More on mining and petroleum ...

PNG’s forex shortage

Top bankers set the record straight on Papua New Guinea’s foreign exchange shortage

Papua New Guinea’s top two bankers, Loi Bakani, Governor of the Bank of Papua New Guinea and Robin Fleming, Chief Executive of Bank South Pacific, have asserted that the kina is not ‘controlled’. The shortage of foreign exchange is rather due to supply demand imbalances—but there is light at the end of the tunnel.

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.

Opinion and analysis

Opinion: Is it time for Papua New Guinea business to get serious about social media?

With an estimated one million Papua New Guineans now connected to a mobile network, is it time for companies to add social media to their marketing strategy? Digital marketing manager Andreia Brodsky outlines what you need to know about this growing marketing channel.

Opinion: What you need to know about Papua New Guinea’s new Cybercrime Act

The Papua New Guinea Government has passed the Cybercrime Bill, which applies to the use of electronic systems and devices, including: spam, hacking, forgery and computer fraud. Zinnia Dawidi, a lawyer specializing in IT & Telecommunications Law, outlines the implications for businesses and individuals.

Read more opinion/analysis

Interviews

Nautilus Minerals working on restructure for Solwara 1, says CEO

Ongoing uncertainty in the resources sector has led Nautilus Minerals to seek refinancing to secure the delivery of its Solwara 1 mining project, located in Papua New Guinea’s Bismarck Sea. President and CEO Michael Johnston tells Business Advantage PNG there will be a delay in the delivery of the project.

Trends in Papua New Guinea’s recruitment market: five questions for Airswift’s Calum Smith

The recruitment market in Papua New Guinea has been affected by the economic downturn. Business Advantage PNG asks Calum Smith, Vice President of Australasia for international workforce solutions provider Airswift how the market is changing.

Infrastructure

Hotel investments transforming Port Moresby into regional conference venue

By the time of the APEC Summit in 2018, Port Moresby could have as many as 2590 high-end hotel rooms, and conference capacity for many thousands. Hoteliers tell Business Advantage PNG that the increase in scale and quality means the capital could become a world-class regional conference venue.

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.

More on infrastructure ...

Company profiles

Wantok Clothing: the Papua New Guinea-owned company that made the Olympic uniforms

For the first time the uniforms of Papua New Guinea’s Olympic athletes have been fully made locally by a PNG-owned company. That company is Wantok Clothing and founder Genevieve Igara tells Business Advantage PNG that it has shown what is possible.

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.

Read more profiles ...

Investment/economy

Asian Development Bank puts case for greater private involvement in state-owned enterprises

Increasing private sector involvement in Papua New Guinea’s state-owned enterprises (SOEs) would be a ‘powerful mechanism’ for improving the sector’s efficiency, according to a new report by the Asian Development Bank.

Saving key to improving credit to Papua New Guinea business, say top bankers

The greatest challenge facing Papua New Guinea’s financial system and businesses is to establish saving in the country’s mostly unbanked population. That is the message from three of the country’s top bankers.

What’s behind Papua New Guinea’s supplementary budget?

The Papua New Guinea government has released its Supplementary Budget to adjust to ‘tough’ economic conditions. It assumes lower economic growth, a weaker exchange rate and higher inflation.

More articles on investment ...

Latest News

Tributes for Sir Mick Curtain, ‘promoter of Papua New Guinea’s potential’

The late Sir Mick Curtain should be remembered for many of the infrastructure projects in Papua New Guinea that were undertaken over the last 50 years, according to Prime Minister, Peter O’Neill.

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Features

Hotel investments transforming Port Moresby into regional conference venue

By the time of the APEC Summit in 2018, Port Moresby could have as many as 2590 high-end hotel rooms, and conference capacity for many thousands. Hoteliers tell Business Advantage PNG that the increase in scale and quality means the capital could become a world-class regional conference venue.

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: Is it time for Papua New Guinea business to get serious about social media?

With an estimated one million Papua New Guineans now connected to a mobile network, is it time for companies to add social media to their marketing strategy? Digital marketing manager Andreia Brodsky outlines what you need to know about this growing marketing channel.

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