The Bank of Papua New Guinea has released its Quarterly Economic Bulletin for the March and June 2020 Quarters. It shows that the economy and government finances came under great pressure because of the COVID-19 lockdowns, but that the impact was uneven.
Kina Bank’s Chief Executive and Managing Director Greg Pawson is expecting to start the SME Capital Fund this year, which will offer PNG businesses a new way of raising money. He tells Business Advantage PNG it should help business expand.
How did the informal economy developed in Papua New Guinea? John David Conroy, Visiting Fellow at the Australian National University’s Crawford School, explores informality in PNG and its repercussions.
K92 Mining sets example in the mining industry in Papua New Guinea, Australia commits funds to help PNG get COVID-19 vaccinations and latest survey on COVID-19’s impact on the business community.
John Byrne, President of the Lae Chamber of Commerce, tells Business Advantage PNG that, although there is an underlying level of confidence in PNG’s second city, infrastructure projects and investment are urgently needed.
A joint communique issued earlier this month by Papua New Guinea’s Prime Minister James Marape and new Bougainville President Ishmael Toroama has committed them to moderated ‘joint consultations’ over the autonomous region’s desired independence. It has again brought focus on the future of the island’s massive Panguna copper and gold mine.
ExxonMobil announces executive changes, the National Development Bank names a new Chief Financial Officer, New Britain Palm Oil appoints new boss, Lae gets a new Consul-General, Pacific Community welcomes a Deputy Director-General Operations and Integration, Capital Insurance Group names Chief Operating Officer, new head for Papua New Guinea Cocoa Board and announcement at Kumul Telikom Holdings.
Mining Minister is optimistic about Wafi-Golpu mining project, Police Commissioner must vacate office before the end of the month and Australia’s Seasonal Worker Program is back.
Peter Aitsi, Group Chief Executive Officer of Credit Corporation PNG, says the COVID-19 pandemic has had a significant impact on operations. He tells Business Advantage PNG that the company is moving to a more agile digital platform and diversifying its product range.
A new lender, Savi Moni, is entering Papua New Guinea’s financial services market. Founder and Managing Director Nick Keane tells Business Advantage PNG that the aim is to minimise the burden on employers, provide affordable and responsible loans, and promote financial wellbeing.