Fitch Solutions downgrades growth projections for Papua New Guinea, St Barbara Ltd unveils promising feasibility study for its Simberi gold mine, and Kina Bank introduces fee-free account. The news in brief.
Papua New Guinea’s budget challenges outlined in two new reports
Welcome,
Two new reports have outlined the revenue challenges being faced by Papua New Guinea’s government in the face of the COVID-19 pandemic.
Headed for recession: bank and rating agencies’ bleak forecast for Papua New Guinea in 2020
Welcome,
Economists are forecasting a recession in PNG in 2020 as the country struggles to deal with the global crisis caused by the outbreak of the COVID-19 virus. The ratings agency Standard & Poor’s has also downgraded the country’s debt.
Papua New Guinea LNG production predicted to double within 10 years, reports Fitch Research
Welcome,
Papua New Guinea’s LNG exports will more than double over the next 10 years, as a result of the planned expansion works, according to Fitch Solutions’ Senior Country Risk Analyst, Raphael Mok. But, he tells Business Advantage PNG, the government must address landowners’ backlash against royalty payments.
Merger of Telikom PNG, PNG DataCo and bmobile may lead to lower costs, say analysts
Welcome,
IT analysts and industry insiders tell Business Advantage PNG that the Papua New Guinea Government’s decision to merge bmobile and PNG DataCo under a Telikom PNG renamed Kumul Telikom is likely to increase competition and innovation. But the move will not be without challenges.
Unrest poses threat to investment in Papua New Guinea says report
Welcome,
An increase in the number of protests, blockades, and inter-clan rivalry in Papua New Guinea poses ‘downside risks’ to Papua New Guinea’s economic growth recovery, according to a report by BMI Research, a subsidiary of the Fitch Ratings Agency. It warns it could lead to delays or cancellations of investment projects.
Recent readers’ comments