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.

Opinion: Papua New Guinea through the lens of Australian newsprint media

Australian National University researcher Anthony Swan explores how Australians’ perceptions of Papua New Guinea are influenced by the Australian media.

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.

In brief: LNG overtakes gold as top export and other Papua New Guinea news

LNG overtakes gold as PNG’s top export, number of female executive appointments in PNG public service low and Bank of South Pacific reports profit rise. Your weekly digest of the latest business news.

Papua New Guinea drought still affecting economy, in spite of rainfall

Although many parts of the country are returning to normal, the Papua New Guinea drought is continuing to affect both its formal and informal economies. Business Advantage PNG receives an update on the situation from agricultural expert, Dr Mike Bourke.

In brief: Ok Tedi mine may resume operations in March, and other business stories

The Ok Tedi mine expected to start again in March, the US formally withdraws from fishing treaty, and unions call on government to honour superannuation commitments. Your weekly digest of the latest business news.

Impact of 2015 Papua New Guinea drought may be worse than 1997, reports agricultural scientist

Now in its fifth month, PNG’s drought is having its biggest impact in high altitude locations and on the fringe of the Central Highlands, according to Agricultural Scientist, Dr Mike Bourke. He told Business Advantage PNG that this year’s drought is at least as bad as the 1997 drought, which affected nearly a million people in rural PNG.

More Pacific Island workers coming to Papua New Guinea, but numbers remain low

While the number of work permits Papua New Guinea has issued to Pacific Islanders has quadrupled in the last ten years, Pacific workers still make up just one per cent of the total foreign work force in the Pacific’s largest economy. But that may be about to change.

Overcoming chronic lack of skilled tradespeople in Papua New Guinea requires more government funding, say industry leaders

An analysis of foreign workers coming to Papua New Guinea since 2000 indicates a chronic lack of skilled tradespeople, according to Lae-based business leaders. While skills training initiatives are under way, an expected surge in mining projects over the next few years highlights the urgency for more skilled workers.

Papua New Guinea Budget review welcomed

The PNG Government’s decision to review the 2015 Budget has been welcomed, while another prominent economist suggests further foreign investment can be attracted by improved policy settings.