About Business Advantage PNG

In brief: ICCC says changes to electricity supply industry may affect Papua New Guinea’s electricity access goals

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The ICCC Commissioner issues warning about ‘complete chaos’ with the National Electricity Authority Act, Treasurer gives hope to potential overseas workers, and Nasfund opens a service centre in Maprik. The business news you need today.

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People moves: Capital Insurance Group, Coffee Industry Corporation

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The Capital Insurance Group announces Acting CEO and the Coffee Industry Corporation welcomes a new Board Chairman.

ICCC proposes to disallow Kina Bank’s acquisition of Westpac’s Pacific assets

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In an interim determination, Papua New Guinea’s Independent Consumer and Competition Commission (ICCC) says it may not allow Kina Bank to buy Westpac’s remaining assets in the Pacific.

People at work: a slice of Papua New Guinea life

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PNG Now photographers Dean Arek and Godfreeman Kaptigua roamed the capital city of Papua New Guinea recently and found a dedicated workforce. The common story of the people photographed and interviewed is that they love their jobs.

People moves: Oil Search, Credit Corp

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Oil Search says goodbye to its Managing Director and Credit Corporation (PNG) welcomes Chair.

In brief: Kina Bank’s new loan for SMEs in Papua New Guinea and other business stories

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Kina Bank announces K50 million for small and medium-sized businesses, Prime Minister Marape’s update on mining projects, and BSP Financial Group cautiously optimistic about Papua New Guinea’s post-COVID recover. The business news you need today. Ports Atlas Steel PNG has been awarded a contract under the PNG Ports Safety and Security Upgrades Program to supply […]

Twinza Oil and Papua New Guinea Government conclude negotiations on Pasca A gas project

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The Papua New Guinea Government and Twinza Oil have concluded negotiations on terms for Pasca A, PNG’s first offshore gas project. While the terms are subject to approval by PNG’s National Executive Council, a signed gas agreement is expected as soon as the end of this month.

People moves: Kokoda Track Foundation, KTHL, NCSL, Save the Children Australia, World Bank

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The Kokoda Track Foundation names new Director, Kumul Telikom Holdings Ltd (KTHL) announces changes, Nasfund Contributors Savings and Loan Society welcomes a Chief Operating Officer, Save the Children Australia announces Pacific representative and the World Bank to welcome new Country Economist.

Geopacific Resources’ ‘phenomenal’ Woodlark project to produce gold within 18 months

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Australian miner Geopacific Resources has secured funding to develop the gold mine on Papua New Guinea’s Woodlark Island in Papua New Guinea’s Milne Bay Province. Business Advantage PNG spoke exclusively to Chairman Ian Clyne and CEO Tim Richards about their expectations for the project.

BSP denies regulator’s anti-money laundering allegations

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BSP Financial Group (BFL) has responded to allegations made by the Bank of Papua New Guinea’s Financial Analysis and Supervision Unit (FASU) that it was in breach of the country’s anti-money laundering laws. Meanwhile, the Bank of PNG’s Governor has distanced the central bank from the allegations made by its own unit.