Port Moresby’s newest hotel, the Stanley, opened in July in central Waigani. It is Papua New Guinea’s biggest hotel and one of the largest in the Southern Hemisphere. Grace Maribu takes a look.
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The greatest challenge facing Papua New Guinea’s financial system and businesses is to establish saving in the country’s mostly unbanked population. That is the message from three of the country’s top bankers.
With an estimated one million Papua New Guineans now connected to a mobile network, is it time for companies to add social media to their marketing strategy? Digital marketing manager Andreia Brodsky outlines what you need to know about this growing marketing channel.
Papua New Guinea’s top bankers discuss the kina, foreign exchange shortages, finance for business and the future of banking services.
The Papua New Guinea government has released its Supplementary Budget to adjust to ‘tough’ economic conditions. It assumes lower economic growth, a weaker exchange rate and higher inflation.
Trade Minister Maru says he will recommend the government abandon its proposed rice policy, Bougainville landowners want government to hold its BCL shares, and Fiji says there are no bans on PNG imports. Your weekly digest of the latest business news.
Air Niugini has assured Cairns businesspeople that it will continue to cater to the business and tourism community, after Qantas confirmed that it will no longer fly the Cairns-Port Moresby route, according to Cairns business leader, Kevin Byrne.
Papua New Guinea’s top two bankers, Loi Bakani, Governor of the Bank of Papua New Guinea and Robin Fleming, Chief Executive of Bank South Pacific, have asserted that the kina is not ‘controlled’. The shortage of foreign exchange is rather due to supply demand imbalances—but there is light at the end of the tunnel.
The recruitment market in Papua New Guinea has been affected by the economic downturn. Business Advantage PNG asks Calum Smith, Vice President of Australasia for international workforce solutions provider Airswift how the market is changing.
A new-format television program about business in Papua New Guinea will commence airing next week on national broadcaster EMTV.