A budget deficit for Papua New Guinea but the ADB forecasts massive growth in 2015. Meanwhile, nickel production looks set to rise. The week’s business news in brief.
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InterOil says it will strongly defend the recent deal it signed with French oil company Total SA involving the Elk-Antelope gas fields Gulf Province.
Business Advantage PNG’s exclusive annual survey of PNG’s major companies indicates that the Papua New Guinea economy is undergoing a contraction, although there is still significant confidence in its future.
A new national air traffic management system, Koim declares victory after jailing of MP on corruption charges and Tekikom and Digicel boost remote services. Your weekly digest of the latest business news.
O’Neill appoints Pruaitch as Treasurer, Somare appointed to PNGSDP and three new directors of Bank of PNG.
The Parties to the Nauru Agreement (PNA) agreed at its meeting in Honiara in March 2014 to set limits on tuna catches. Sean Dorney argues Pacific governments now need to address illegal fishing, an errant European Union, and the threat posed by subsidised foreign fishing fleets.
Officials reveal loan share deal signed two weeks ago, Abbott/O’Neill sign a new trade treaty and Bank PNG board happy with economy. Your weekly digest of the latest business and economic news.
Papua New Guinea’s proposed Sovereign Wealth Fund was intended to stabilise the kina and secure assets for the future. But, as Paul Barker from the Institute of National Affairs argues, the government’s borrowing plan for Oil Search shares may jeopardise the fund’s effectiveness.
By introducing a range of specialty services Lae International Hospital has emerged as a leading private health facility in Papua New Guinea’s Morobe Province.
Kina Group has launched Papua New Guinea’s first non-bank EFTPOS cash card.