Features

Consumer trust the key to boosting mobile banking in the Pacific

The key to boosting the use of mobile phone banking services in the Pacific is ‘trust’ in the system, particularly as mobile phone providers begin … [read on ...]

mobile phones

Entrepreneurs: Local developer’s mobile apps making it easier to do business in Papua New Guinea

From self-service to bringing buyers and sellers together, software developer Shadrach Jaungere's smartphone apps are making it easier for Papua New … [read on ...]

It entrepreneur and App designer, Shadrach Jaungere

Port Moresby’s Harbourside cuisine revolution

A burgeoning middle class, an increase in expatriate workers and some entrepreneurial initiative is transforming the local cuisine. One of the more … [read on ...]

OLYMPUS DIGITAL CAMERA

APEC to reveal tourism as Papua New Guinea’s ‘sleeping giant’

The hosting of the APEC Summit in Port Moresby in 2018 has sparked a flurry of investment in tourism infrastructure. It promises to kick start Papua … [read on ...]

Kenu and Kundu festival 2  CREDIT David Kirkland Photography

Surging Japanese trade and Chinese investment to integrate Papua New Guinea into Asian region

Papua New Guinea’s first LNG project has transformed the country's exporting landscape, with Japan overtaking Australia as its No.1 trading partner. … [read on ...]

A submarine cable map of the Asian region. Credit: Telegeography

Latest news

In brief: PM assures students 2016 Papua New Guinea Budget will be implemented, and other business news

O’Neill assures students 2016 Budget will be implemented, Singapore’s Jaya Holdings buys Moni Plus for K518million and Bougainville aims for mid-2019 independence vote. Your weekly digest of the latest business news.

Oil Search’s InterOil acquisition to consolidate company as regional player in oil and gas

Oil Search, Papua New Guinea’s biggest company and largest non-government employer, looks set to consolidate its position as a major player in the Asia Pacific oil and gas market with its $US2.2 billion purchase of InterOil. Chief Executive of Oil Search, Peter Botten, says it will allow the company to be ‘hugely influential in the further development of our world class PNG LNG and Papua LNG assets.’

Frieda River ‘one of largest’ undeveloped copper-gold deposits in world, says PanAust

PanAust has released its feasibility study into the Frieda River mine in Sandaun Province, claiming it is ‘one of the largest undeveloped copper-gold deposits in the world’, with an initial 17-year mine life. The company’s intention is to take a staged approach to development.

Read more News

Mining & petroleum

Oil Search’s InterOil acquisition to consolidate company as regional player in oil and gas

Oil Search, Papua New Guinea’s biggest company and largest non-government employer, looks set to consolidate its position as a major player in the Asia Pacific oil and gas market with its $US2.2 billion purchase of InterOil. Chief Executive of Oil Search, Peter Botten, says it will allow the company to be ‘hugely influential in the further development of our world class PNG LNG and Papua LNG assets.’

Frieda River ‘one of largest’ undeveloped copper-gold deposits in world, says PanAust

PanAust has released its feasibility study into the Frieda River mine in Sandaun Province, claiming it is ‘one of the largest undeveloped copper-gold deposits in the world’, with an initial 17-year mine life. The company’s intention is to take a staged approach to development.

More on mining and petroleum ...

PNG’s forex crisis

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.

Commodity price falls creating currency volatility, says analyst

The kina has fallen in value this year, but Papua New Guinea’s dependence on commodity exports means that it can be expected to fall further, says Rohan Fox, Lecturer and Research Fellow at the University of Papua New Guinea’s Division of Economics. He tells Business Advantage PNG that the country faces a difficult task managing the impact of sharp fluctuations in commodity prices.

Papua New Guinea kina set to fall further, say analysts

Papua New Guinea’s currency, the kina, has fallen over the last year; many are predicting it will go lower. Business Advantage PNG talks exclusively to two analysts about where the currency is headed and how it will affect business conditions.

Opinion and analysis

Opinion: Seven key challenges facing Papua New Guinea … and how to tackle them (part 2)

In the first article in this two-part series, Jenny Hayward-Jones outlined seven key issues that confront Papua New Guinea’s emerging leaders. In this second part, she identifies the long-term trends that will challenge PNG and four areas of reform that would—if focused on—yield the greatest gains for the country.

Opinion: Seven key challenges facing Papua New Guinea … and how to tackle them (part 1)

There are many challenges facing Papua New Guinea but which are the most critical to address first? In the first of a two-part series, Jenny Hayward-Jones outlines seven key issues that confront the nation’s emerging leaders. In the second part, she identifies which areas to target first. Trying to solve all of them at the same time, she believes, will not deliver the progress Papua New Guineans expect.

Read more opinion/analysis

Interviews

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.

Six questions for: Katsuo Yamashita, Chairman, Japan Papua New Guinea Association

The relationship between Japan and Papua New Guinea has developed to the point where this year—thanks to liquefied natural gas—Japan is expected to be PNG’s largest export destination this year. Business Advantage PNG asks Katsuo Yamashita, the Chairman of the Japan PNG Association, about the growing links between the two countries.

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

What’s next for Papua New Guinea’s PNG LNG project?

Papua New Guinea’s transformational PNG LNG project has been exporting gas to Asian markets since 2014. But what’s next for the project and its developer, ExxonMobil? Business Advantage PNG speaks with Andrew Barry, the Managing Director of ExxonMobil PNG Limited, to find out.

Ela Motors takes long-term view of Papua New Guinea market

Papua New Guinea’s largest motor dealer, Ela Motors, is planning further investment in Papua New Guinea as part of moves to bolster its already-strong position in the domestic vehicle market.

Read more profiles ...

Investment/economy

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.

Commodity price falls creating currency volatility, says analyst

The kina has fallen in value this year, but Papua New Guinea’s dependence on commodity exports means that it can be expected to fall further, says Rohan Fox, Lecturer and Research Fellow at the University of Papua New Guinea’s Division of Economics. He tells Business Advantage PNG that the country faces a difficult task managing the impact of sharp fluctuations in commodity prices.

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 articles on investment ...

Latest News

In brief: PM assures students 2016 Papua New Guinea Budget will be implemented, and other business news

O’Neill assures students 2016 Budget will be implemented, Singapore’s Jaya Holdings buys Moni Plus for K518million and Bougainville aims for mid-2019 independence vote. Your weekly digest of the latest business news.

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Features

Consumer trust the key to boosting mobile banking in the Pacific

The key to boosting the use of mobile phone banking services in the Pacific is ‘trust’ in the system, particularly as mobile phone providers themselves begin providing financial services, according to a new report by the Asian Development Bank (ADB).

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: Seven key challenges facing Papua New Guinea … and how to tackle them (part 2)

In the first article in this two-part series, Jenny Hayward-Jones outlined seven key issues that confront Papua New Guinea’s emerging leaders. In this second part, she identifies the long-term trends that will challenge PNG and four areas of reform that would—if focused on—yield the greatest gains for the country.

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Kina exchange rate

  •  USD 0.3725
  •  AUD 0.4840
  •  GBP 0.2503
  •  EUR 0.3476
  •  JPY 44.4900
  •  SGD 0.5035