Posts by Business Advantage PNG

Standard & Poor’s ratings agency has maintained its year-long rating of Papua New Guinea’s economy as stable, but has some concerns.

The entry of PanAust—a new player in PNG’s mining sector—is good news for the giant Frieda River gold and copper mining project in East Sepik Province. The move has also been welcomed by analysts.

Airlines PNG appoints a new Chief Commercial Officer in a restructure, while there is a leadership change at Cloudy Bay Sustainable Forestry.

Recruitment agencies servicing Papua New Guinea say the employment of expatriates has fallen over the past year. However, as our survey of the sector suggests, there is optimism about all employment in 2014, as new ventures come on stream to replace the giant PNG LNG project.

Trade Minister, Richard Maru, has amended Papua New Guinea’s takeover code, introducing a new national interest test for anyone acquiring shares in PNG companies. The law firms who represented Kulim (Malaysia) Berhad in its recent failed bid for New Britain Palm Oil say the lack of definition about what is ‘the national interest’ will discourage foreign investment in PNG and PNG companies.

The O’Neill government seeks legal advice on the Nautilus ruling and other local and international stories.

With money finally in the bank and an experienced hand at the helm, are the fortunes of PNG’s troubled mobile phone company Bemobile about to turn? Business Advantage PNG spoke with Sundar Ramamurthy – who last week became its ninth CEO and its fourth in a year – to find out.

Pacific Trade Commissioner resigns

The great untapped investment area in Papua New Guinea is infrastructure, according to Syd Yates, ‎Executive Director of investment fund Kina Asset Management Limited (KAML).

Credit Corporation shareholders decide not to sell up to BSP, while Papua New Guinea business visa fees rise sharply and Ok Tedi landowners threaten to close the mine in the latest dispute over the government’s takeover.