Posts by David James

Retailer and wholesaler TE (PNG) is a diversified and adaptable company, says new Managing Director Robbie Huxley. He tells Business Advantage PNG he decided earlier this year to buy the 60-year-old company because he sees a positive future for PNG

The Prime Minister Peter O’Neill has criticised external commentators for ‘bias’ when assessing the PNG economy. Speaking at the 34th Australia Papua New Guinea Business Forum in Brisbane, he expressed optimism about the proposed Papua LNG project but said the economy has to be diversified to avoid boom and bust cycles.

S&P Global Ratings has lowered its long-term foreign and local currency sovereign credit ratings on Papua New Guinea (PNG) to ‘B’ from ‘B+’, but it believes the outlook is ‘stable’. The agency points to bigger than expected fiscal deficits because of ‘a loss of revenue and reconstruction costs after a recent earthqu

Oil prices are rising and silver is also strengthening. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.

Hausples.com.pg has released its Real Estate Survey 2018, which shows that the biggest challenge for the market is supply side factors such as land titles, infrastructure and private sector investment. But it says these issues ‘are slowly being addressed’ and that there is ‘unequivocal market demand for housing at various price points.

Paint company Akzo Nobel is taking a new strategic direction in Papua New Guinea, according to Chief Executive Officer, Navin Raju. He tells Business Advantage PNG that the prospects for growth are sound.

Diversified corporate and retail enterprise Brian Bell Group is celebrating its 60th year in 2018. Chairman Ian Clough tells Business Advantage PNG the company is investing in people, infrastructure, and new retail strategies in preparation for its next phase of growth.

The Extractive Industries Transparency Initiative Report for 2016 has found that improvements are being made to registry and payment systems, but more needs to be done. It notes that budgeting to government revenues remains difficult because of the industry’s volatility and the relatively small number of companies paying full tax.

The ratings agency Moody’s has affirmed Papua New Guinea’s B2 rating, but downgraded it from ‘negative from stable’, citing higher government liquidity risks, increased gross borrowing requirements and limited funding sources. It points to a growing reliance on short-term debt.

LNG prices have shown continued weakness and the cocoa price has also dropped. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets.