Papua New Guinea’s largest cocoa grower, trader and exporter, Agmark, says cocoa yields in East New Britain could double, as a result of new technology arising from the battle to recover from the impact of the cocoa pod borer.
Posts by Business Advantage PNG
A new board member at the Bank of South Pacific
Accountancy firm, Ernst and Young, has appointed Colin Milligan as a tax partner in its Papua New Guinea office.
Restricting the margins at which the kina can be traded against the US dollar has had little positive effect, with some companies struggling to pay bills, as the central bank reportedly restricts the purchase of US currency, Manufacturers Council of Papua New Guinea CEO Chey Scovell tells Business Advantage PNG.
Scheduled road projects in Papua New Guinea will cost around K7 billion over the next five years, according to David Wereh, Secretary of the Department of Works and Implementation, with almost K2.6 billion of works currently under way. But PNG’s poorly-maintained existing roads represent a ‘time bomb’ for the country.
Central bank governor says economic stability dependent on kina pegging, Panguna landowners support re-opening of gold and copper mine, and 2015 Budget may be a deficit budget with ‘no significant strategic changes’. Your weekly digest of the latest business news.
New Britain Palm Oil Limited and the West New Britain provincial government have held preliminary talks which could see electricity generated from the company’s waste products provided across the entire province.
Call for government to lower interest rates, inflation rises and Air Niugini reduces fuel surcharge. Your weekly digest of the latest business news.
The Papua New Guinea economy is facing significant challenges, as growth reaches 20-22% next year, ANZ Asia-Pacific Chief Economist Glenn Maguire told this month’s Papua New Guinea Advantage Investment and Infrastructure Summit in Port Moresby.
Puma Energy is starting to show its colours in Papua New Guinea, with the rebranding of its first service station following the acquisition of InterOil’s downstream assets in PNG earlier this year. It’s part of a regional investment strategy, PNG General Manager Peter Diezmann tells Business Advantage PNG.