Banking and finance

IMF report says Papua New Guinea Government taking initiative but challenges remain considerable

A report on the state of the Papua New Guinea economy by the International Monetary Fund (IMF) says the Government has taken some ‘bold steps’ in its economic management. But it contends that the challenges are considerable and would be best managed with an 'active' approach to macroeconomic management.
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Mastercard talks smart chip technology in Papua New Guinea

Mastercard is working with its banking partners to introduce smart card chip technology and contactless payments to Papua New Guinea (PNG). Craig Kirkland, Director of Pacific Islands for Mastercard talks to Business Advantage PNG about this technology and why PNG is an important market for the company.
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Oil and gas prices strong: a monthly review of Papua New Guinea’s commodities and financial markets

Oil and gas prices are up and copper is also strong. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets comes to you from this week's PNG Mining and Petroleum Conference in Port Moresby.
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Smartphones can transform Papua New Guinea’s economy, says futurist Mark Pesce

Smartphone technology can transform the economy, futurist Mark Pesce told the Business Advantage Papua New Guinea Investment Conference in Sydney earlier this month. He painted a long-term picture in which digital technology will allow the country to reap the benefits of the post-industrial era.
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Kina overvalued and one option is to have dual exchange rate, says economist

The kina is more than 20 per cent overvalued, according to Marcel Schroder, a lecturer in economics at the Development Policy Centre in the Australian National University (ANU), speaking to a joint University of Papua New Guinea/ANU event in Port Moresby. One option is to introduce a dual exchange rate for a limited time.
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European Investment Bank looking to expand in the Pacific, says regional Head

The European Investment Bank has received a mandate from the European Union to invest in infrastructure projects in the Pacific, including in Papua New Guinea. Head of the EIB’s Pacific Regional Office, Adam Bruun explains to Business Advantage PNG some of the priorities and operational practices of the Bank.
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Credit Corp to open operations in Timor Leste, says CEO

While it is adapting to increased competition and quieter market conditions at home, PNG’s largest finance company, Credit Corporation, is not standing still. Chief Executive Tor Bowen tells Business Advantage PNG that the company will open its first South East Asian operation, in neighbouring Timor Leste.
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Inside Papua New Guinea’s largest private equity fund

Kennedy Wemin, the Chief Executive of Melanesian Trustee Services limited (MTSL), Trustee and Interim Manager of Papua New Guinea’s unit trust fund, Pacific Balanced Fund (PBF) tells Business Advantage PNG that the difficult economic conditions create opportunities as well as challenges. He outlines some of the fund's future options.
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