Recent developments in the Papua New Guinea’s resources sector should boost confidence, according to international ratings agency Fitch Solutions. Its latest outlook on the country, however, warns of ‘policy uncertainty and ongoing risks to social stability’.
The future of one of Papua New Guinea’s highest profile green energy projects, PNG Biomass, appears under a cloud following the move by state-owned utility PNG Power to potentially cancel the power purchase agreement it has with the project.
St Barbara has suspended operations of its Simberi project until it is safe to restart, Air Niugini relaxes COVID-19 restrictions for national flights, and global shortage of storage containers might impact Papua New Guinea’s trade. The business news in brief.
South Pacific Brewery elects a new Chairman, plus a new GM for Airways Residences.
Steamships partners with Emstret Holdings to help SMEs deliver its products, NDB still to loan out to SMEs, and K1 million for the honey sector. The business news in brief.
BSP Financial Group, the Pacific’s largest bank, finally listed on the Australian Securities Exchange yesterday. The move creates a new market for its existing shares and positions the bank to tap into new sources of capital in the future.
BSP Financial Group Limited receives approval to list on the ASX; a new State Negotiating team to be reappointed to the P’nyang gas project, and Joint post-referendum talks between government and Bougainville fruitful. The business news in brief.
Global telecommunications company Speedcast has been working in Papua New Guinea for over 12 years. Tony Waters, Senior Sales Director, says the advances in satellite communication could mean high-speed internet access at a good price for the country’s 22 provinces.
Papua New Guinea’s National Government and Bougainville continue post-referendum talks, Bank South Pacific signs MoU with the Department of Finance for an online payment solution and Newcrest pledges zero carbon emissions by 2050. The business news in brief.
The Embassy of the People’s Republic of China gets a new head, Qantas welcomes new Regional Manager, Oil Search appointment for the PNG Orchids, Autonomous Region of Bougainville names key post-referendum figure, and new Fellow inducted into the Institute of Directors.