Capital raising launched by Santos, Australia to provide drought relief for Papua New Guinea and National Fisheries Authority secures South Korean contract. Your weekly digest of the latest business news.
Posts by Business Advantage PNG
Unrest in Papua New Guinea’s second city, Lae, has caused major disruptions for the city’s business community this week. Fortunately, as Lae Chamber of Commerce President Alan McLay told Business Advantage PNG, Lae has avoided serious damage and things are now returning to normal.
The Papua New Guinea Government has made tough decisions in its 2016 Budget to avoid a cash and macroeconomic crisis. Business Advantage PNG talks to some experts on how the budget measured up to expectations, and what is still needed.
Heim leaves Deloitte for Kumul Consolidated Holdings, a new Managing Director for Santos in 2016, and Harmony Gold appoints new CEO.
The message from the New Caledonia Business Lunch in Sydney, Australia, on 4 November was that there are plenty of opportunities for international service providers in the French Pacific territory of New Caledonia.
The ongoing restructure of Airlines PNG Ltd has provided the company with an opportunity to refresh its brand, starting significantly with a change of its name to PNG Air. Chairman Murray Woo tells Business Advantage PNG more about the rebranding.
Following on from the Governor of the Bank of Papua New Guinea’s recent comments about the need to develop Papua New Guinea’s tourism industry, Melanesian Tourism Services’ Managing Director Sir Peter Barter argues for urgent cooperation between government and industry.
New Singapore Ambassador to PNG
Yesterday, Papua New Guinea’s Treasurer Patrick Pruaitch presented both the 2016 National Budget and a Supplementary Budget for 2015. Both budgets – highly anticipated given the PNG Government’s need to address lower revenues – make cuts to projected expenditure and find additional revenue resources in order to keep the budget deficit under control.
Now in its fifth month, PNG’s drought is having its biggest impact in high altitude locations and on the fringe of the Central Highlands, according to Agricultural Scientist, Dr Mike Bourke. He told Business Advantage PNG that this year’s drought is at least as bad as the 1997 drought, which affected nearly a million people in rural PNG.