International ratings agency Standard and Poor’s has revised its outlook for Papua New Guinea from ‘stable’ to ‘negative’. While maintaining PNG’s B+/B rating, S&P’s Director of Sovereign & Public Finance Ratings explains to Business Advantage PNG why there’s a one-in-three chance the rating could be lowered in the next 12 months.
Australian businesses eager to earn a dollar in Papua New Guinea should understand they need to be seen as committed long-term to the market to be successful, says Australia’s Senior Trade Commissioner to PNG, David Knapton.
Chief Secretary indicates SABL leases will be returned soon, and Woodside CEO says Oil Search bid his ‘full price’. Your weekly digest of the latest business news.
Cabinet re-appoints CEO of NICTA, a new CEO for ANZ Bank, and Finance Dept Secretary confirmed
While the number of work permits Papua New Guinea has issued to Pacific Islanders has quadrupled in the last ten years, Pacific workers still make up just one per cent of the total foreign work force in the Pacific’s largest economy. But that may be about to change.
As Papua New Guinea’s business community continues to face foreign exchange shortages, ANZ Bank has called for a relaxation of the enforced trading band for the kina. Meanwhile, analysts say the kina is facing further downward pressure from the US dollar.
The completion of the Kulum Flyover project proved that Papua New Guinea was capable of delivering significant road infrastructure developments at an international standard under tight time constraints. Lead contractor, New Zealand’s Hawkins Group, executed a project that provided a number of lessons for infrastructure developments in the future.
Woodside talks to National Petroleum Company, ratings agency expects oil prices to fall further, and illegal logging continues, says Oro Governor, Your weekly digest of the latest business news.
Enerpac appoints a Country Manager, a new Chairman of Tari Provincial Hospital
A shift in priorities continues at the University of Papua New Guinea (UPNG) with the recently named PNG School of Business and Public Policy established to improve the performance of the public service sector in the country as part of the Pacific Leadership and Governance Precinct.