The Bank of Papua New Guinea argues that the government should fund its spending plans from the domestic banking system. Meanwhile, the government is ramping up its borrowing from foreign sources. Who is right?
Posts by Business Advantage PNG
The Pacific’s tourist sector has been resilient to the falling Australia and New Zealand dollars, according to the July ANZ Bank Pacific Monthly update.
Australia will send up to 50 police officers to Papua New Guinea by the end of the year to help tackle the country’s growing law and order problem. The deal is one of a series of agreements arising from the 21-hour visit to Papua New Guinea this week by Australia’s Prime Minister, Kevin Rudd, to meet his PNG counterpart, Peter O’Neill.
Telikom PNG is upgrading and expanding its network, after earlier this month signing a K600 million (US$200 million) deal with Chinese technology provider Huawei. Chairman Mahesh Patel outlines where the money will be spent and commits the state-owned telco to improving its customer service.
More than 400 delegates attended the inaugural SME Summit in Madang earlier this month. PNG’s Indigenous Business Council President Sir Nagora Bogan explains what will be required to encourage more Papua New Guineans to start their own small and medium-size enterprises.
InterOil Corporation has announced that Dr. Michael Hession has joined the company as Chief Executive Officer, following the retirement of Phil Mulacek.
An Australian diplomat in PNG nominates and then withdraws from the race to replace former PM Julia Gillard, while raw coffee prices fall as consumption flatlines.
Closer economic engagement with Far North Queensland, law and order, and health will be on the agenda when Australian Prime Minister Kevin Rudd visits Papua New Guinea today. Rudd will be the second Australian Prime Minister to visit PNG in the past two months, following former PM Julia Gillard’s visit in May.
Construction of a new private wharf and boat ramp in Port Moresby will be completed by the end of the year, according to Karthik Pajjala, General Manager of Avenell Engineering Systems Ltd, the builders of the wharf.
Sonja Heydeman discovers Madang Resort on the northern coast of mainland Papua New Guinea, as part of our series on the country’s most attractive tourist spots.