Hopes are high that an action plan to resolve the problems facing Papua New Guinea’s three main power grids will be endorsed at a key stakeholders’ meeting in Port Moresby this week, according to Gavin Murray, the International Finance Corporation’s (IFC) Country Manager for the Pacific region.
Key meeting this week to agree on Action Plan to boost major Papua New Guinea power grids
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9 Dec 2015 by Leave a Comment
Restructure will see 25% reduction of Ok Tedi staff and switch to ‘fly in-fly out’ operation at Papua New Guinea mine
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9 Dec 2015 by 3 Comments
PNG’s state-owned mine is undergoing a radical restructuring which will result in a 25% workforce cut and see the company move to a Fly-In, Fly-Out operation, says Managing Director and CEO, Peter Graham.
In brief: Oil Search fends off takeover offer after Woodside shelves bid, and other business stories
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9 Dec 2015 by Leave a Comment
Woodside drops takeover bid for Oil Search, coffee pulper machine installed for smallholders in Jiwaka Province, and market conditions force Hides Gas Development Company to cut workforce. Your weekly digest of the latest business news.
Relief in sight for Papua New Guinea businesses wanting foreign exchange, says BSP CEO
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9 Dec 2015 by Leave a Comment
There is some relief ahead for businesses struggling to access foreign exchange, according to the CEO of the country’s biggest bank, BSP. Robin Fleming says investment in the mining and petroleum sector and a new Sovereign Bond are the keys to boosting foreign exchange inflows.
Business and smallholders partnering to export Papua New Guinea coconut products
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9 Dec 2015 by 40 Comments
Niugini Organics, an expanding exporter of organic coconut products made in PNG, is showcasing a business model which benefits smallholder groups in East New Britain. Business Advantage PNG spoke with director Dennis Hill to find out more.
People moves: PNG Power, Credit Corporation, Australian High Commission
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9 Dec 2015 by
Changes to PNG Power’s senior management, a new Chairman at Credit Corp and a new Australian High Commissioner to PNG
People moves: KK Kingston
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2 Dec 2015 by 1 Comment
A new board Chairman and director at KK Kingston
In brief: BSP to finance PNG Ports’ new facilities at Motukea Island, and other business stories
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2 Dec 2015 by Leave a Comment
PNG Ports secures ‘landmark transaction’ with BSP for Motukea Island facilities, impact of kina’s exchange rate over-valuation analysed, and Harmony Gold confirms Kili Teke copper-gold discovery. Your weekly digest of the latest business news.
2016 will bring pressure on Papua New Guinea government finances and currency, says Asian Development Bank
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2 Dec 2015 by Leave a Comment
Papua New Guinea will find itself in a tight fiscal situation in 2016, according to the latest analysis by the Asian Development Bank’s economists. While more efficient public spending could yield large savings, they suggest more may need to be done to arrest the downward pressure on the currency.
National Development Bank aims to become Papua New Guinea’s fifth commercial bank
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1 Dec 2015 by 2 Comments
Papua New Guinea’s state-owned National Development Bank is preparing to apply for a full commercial banking licence by early 2017, according to Managing Director, Moses Liu.
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