A US$500 million Eurobond to be issued later this year, Government owes US$88 million to local businesses and February earthquake bill to cost five percent of government expenditure. Your weekly digest of the latest business news.
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In a move that will reassure Papua New Guinea exporters to the United Kingdom, the UK government has confirmed it will maintain the European Union’s current trading arrangements with PNG after ‘Brexit’. Meanwhile, Prime Minister O’Neill has flagged ‘huge incentives’ for investments in agriculture and tourism, Business Advantage PNG reports from London.
Kina Bank is working with the Australian government and other donors to set up a credit fund for small and medium sized business. CEO Greg Pawson has told business leaders in Port Moresby the scheme is part of the bank’s corporate responsibility.
A new Executive Officer at the Lae Chamber of Commerce and Industry and the South Pacific Tourism Organisation reappoints Deputy Chairperson
Papua New Guinea economy on the cusp of a mining boom, kina’s fair value ‘around US 23-25 cents’, and niche tourism could nearly triple tourism numbers in 10 years. Your weekly digest of the latest business news.
S&P Global Ratings has lowered its long-term foreign and local currency sovereign credit ratings on Papua New Guinea (PNG) to ‘B’ from ‘B+’, but it believes the outlook is ‘stable’. The agency points to bigger than expected fiscal deficits because of ‘a loss of revenue and reconstruction costs after a recent earthqu
Oil prices and silver are up: a monthly review of Papua New Guinea’s commodity and financial markets
Oil prices are rising and silver is also strengthening. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
Hausples.com.pg has released its Real Estate Survey 2018, which shows that the biggest challenge for the market is supply side factors such as land titles, infrastructure and private sector investment. But it says these issues ‘are slowly being addressed’ and that there is ‘unequivocal market demand for housing at various price points.
Paint company Akzo Nobel is taking a new strategic direction in Papua New Guinea, according to Chief Executive Officer, Navin Raju. He tells Business Advantage PNG that the prospects for growth are sound.
Diversified corporate and retail enterprise Brian Bell Group is celebrating its 60th year in 2018. Chairman Ian Clough tells Business Advantage PNG the company is investing in people, infrastructure, and new retail strategies in preparation for its next phase of growth.