The Acting Chairman of the Securities Commission Alex Tongayu has issued an order that a new levy will be applied to all transactions on the PNGX, Papua New Guinea’s stock market. It has raised concerns that it will impede the growth of the country’s capital markets.
Stock exchange: Could a new levy stifle Papua New Guinea’s capital markets?
Welcome,
24 Feb 2021 by Leave a Comment
Going strong: Lihir forecasts record gold production
Welcome,
24 Feb 2021 by 1 Comment
Newcrest Mining says it can ‘unlock significant value’ at Lihir, Papua New Guinea’s biggest gold mine. David James takes a closer look at a mine forecast to produce over a million ounces a year.
Still a long way to go: business and economic recovery after COVID
Welcome,
22 Feb 2021 by Leave a Comment
Papua New Guinea is experiencing similar stresses to other economies in the Pacific region due to the impact of COVID-19. Two reports, by the Asian Development Bank and Pacific Trade Invest, highlight both the impacts and a way to recovery.
To build or not to build: multibillion dollar Chinese project highlights Western Province’s dilemmas
Welcome,
15 Feb 2021 by 18 Comments
Reports that a Chinese company has put forward a multibillion dollar plan to develop several areas in Western Province have highlighted the lack of investment in one of Papua New Guinea’s most neglected provinces.
Total SA and Papua New Guinea sign key agreement for Papua LNG to move forward
Welcome,
12 Feb 2021 by Leave a Comment
The long-awaited signing of the Fiscal Stability Agreement between the Papua New Guinea government and Total SA has been announced. It opens to the way for the project to go forward.
Nothing to fear: Kina Bank’s executive dismisses claims of ‘duopoly’ in Papua New Guinea
Welcome,
10 Feb 2021 by 5 Comments
Kina Bank will adopt a ‘multi-brand’ strategy after acquiring Westpac PNG, according to Lesieli Taviri, Executive General Manager for Banking. She believes fears about a duopoly are unfounded.
Wafi-Golpu JV explains its deep sea waste disposal plan
Welcome,
9 Feb 2021 by 4 Comments
The Wafi-Golpu Joint Venture has released new information on its proposed DSTP method of tailings disposal for the planned Wafi-Golpu mine in Papua New Guinea. The move is designed to allay environmental concerns, including those expressed by Morobe Governor Ginson Saonu.
Papua New Guinea attracts more enquiries from foreign investors despite COVID-19 crisis
Welcome,
8 Feb 2021 by Leave a Comment
The Investment Promotion Authority has released data on foreign investment trends in 2020 that show the sector of most interest was agriculture. Despite the impact of COVID-19 there was significant investor interest.
Foreign exchange the ‘number one’ concern for Papua New Guinea business, says Chamber head
Welcome,
8 Feb 2021 by Leave a Comment
In this exclusive interview with Business Advantage PNG, Port Moresby Chamber of Commerce and Industry President Rio Fiocco, outlines the numerous challenges facing business in Papua New Guinea as 2021 gets under way.
Total expected ‘shortly’ in Papua New Guinea to advance Papua LNG, says Kumul Petroleum MD
Welcome,
3 Feb 2021 by 4 Comments
The signing of a fiscal stability agreement between Papua New Guinea and French oil major Total looks set to trigger the FEED phase of the multi-billion dollar Papua LNG project. Wapu Sonk, Managing Director of national oil company Kumul Petroleum, tells Business Advantage PNG the signing is expected within the next two weeks.
USD 0.2634
AUD 0.4094
GBP 0.2127
EUR 0.247
NZD 0.4457
JPY 40.76
SGD 0.3586
Recent readers’ comments