Articles by David James

Papua New Guinea at risk of losing foreign investment, says head of think-tank

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Papua New Guinea should seek to attract more foreign investment in the wake of the COVID-19 crisis. But many of its policies are going in the opposite direction, according to Paul Barker, Executive Director of the Institute of National Affairs.

Commodities update: palm oil reverses trend, LNG soars but oil continues to weaken

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LNG prices continue to surge and are now up by over a third this year. But oil prices eased and cocoa prices also fell slightly. Business Advantage PNG’s monthly review of commodity and financial markets.

‘Slow recovery’: Business Council of Papua New Guinea demands focus on economy

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Business in Papua New Guinea has responded well to COVID-19 but is now facing a downturn at the lower end of expectations. David Toua, board member of the Business Council of Papua New Guinea says the focus now needs to turn to the economy.

Digging deeper: resources sector’s contribution undervalued in Papua New Guinea

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The contribution of the resources sector to the Papua New Guinea is being greatly under-estimated according to Maygen Turliu, Director of Tax & Business Services for Deloitte PNG. What appears in Treasury’s Budget is less than a third of its actual contribution.

Metal mayhem: Barrick set to re-open Porgera; Chairman quits Kumul Minerals

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In a surprise development, the Porgera gold mine looks set to re-open, ending a period of intense disagreement between Papua New Guinea’s government and Barrick Niugini, the mine’s operator.

No shore thing: Twinza and Papua New Guinea deal still uncertain

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The Papua New Guinea government hopes that its ‘in-principle’ agreement with Twinza Oil over the Pasca A offshore oil field in the Gulf of Papua will be a template for new oil and gas projects. But the project isn’t across the line just yet.

Bank of Papua New Guinea revises down growth expectations

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In his latest Monetary Policy Statement, the Governor of the Bank of Papua New Guinea, Loi Bakani, forecasts GDP will decline by four per cent in 2020 but rebound slightly next year. He also expressed concerns about changes to the Central Banking Act.

Papua New Guinea businesses continue to struggle financially in COVID-19 crisis

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The Business Council of Papua New Guinea’s second Market Conditions Survey has found almost eight out of ten respondents did not meet their projected revenue and profit results for the first half of 2020.

Harder than expected: introducing Papua New Guinea’s new resources laws

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The Marape government’s proposed introduction of a new Organic Law for mining, and oil and gas projects will do away with Papua New Guinea’s ‘robust’ legal regime, according to Vaughan Mills, Head of PNG Practice for Corrs, Chambers Westgarth.

The road ahead: Papua New Guinea’s GDP could rebound by 3.2 per cent next year says the World Bank

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Two new World Bank reports outline the challenges facing Papua New Guinea in the wake of the COVID-19 economic shutdowns in the Asia-Pacific region.