Kina Bank sees opportunity to be Papua New Guinea’s leading digital bank

Kina Bank’s vision is to be the country’s leading digital bank, CEO Greg Pawson tells Business Advantage PNG. He says the bank is preparing to take over ANZ PNG’s retail, commercial and SME businesses.

Production from Papua LNG in Papua New Guinea could start in 2024, says Total Managing Director

French super major Total will look to have a final gas agreement with the Papua New Guinea government for the Papua LNG project by March 2019. If the project gets the final go-ahead, production should start in 2024, according to Jean-Marc Noiray, Managing Director of Total E&P PNG.

Essential Port Moresby: a guide

What are the best places to stay in Papua New Guinea’s capital city? Kevin McQuillan provides a guide to some of the best things to see and do in the PNG capital.

Australia announces A$3 billion Pacific Infrastructure Bank package

The Australian Government has announced plans to set up an infrastructure bank as part of a A$3 billion suite of measures aimed at countering China’s influence in the southwest Pacific and lifting its own engagement in the region. Regional analysts say the funds need to go to Micro, Small to Medium Enterprises (MSMEs), as well as SMEs, and for small projects in remote areas.

Five questions for: Papua New Guinea’s Ambassador to APEC, Ivan Pomaleu

APEC’s 21 Leaders gather in Port Moresby next week, the culmination of 10 months of officials’ meetings. Papua New Guinea’s APEC Ambassador, Ivan Pomaleu, tells Business Advantage PNG that making APEC useful for the country will require a long-term commitment.

Boosting digital economy key to developing Papua New Guinea’s MSMEs, entrepreneurs tell APEC forum

The development of micro and small and medium sized businesses (MSMEs) in Papua New Guinea requires innovation, cheaper internet access, embracing a digital economy and creating hubs for sharing ideas, entrepreneurs told an APEC discussion forum in Lae. They say without these elements the government’s goal of creating 500,000 SMEs by 2030 will not happen.

Five questions to Sir Charles Lepani, Director General of APEC 2018

In a little over three weeks, Papua New Guinea will host the annual APEC Economic Leaders Meeting, when 21 world leaders and 10,000 delegates including 2,000 media organisations arrive in Port Moresby. The Director-General of the APEC 2018 Coordinating Authority, Sir Charles Lepani, tells Business Advantage PNG he is confident of a lasting legacy.

US-China trade war creating uncertainty in forestry sector, says Papua New Guinea Forest Industry Association

The forestry sector is keeping a close eye on the US-China trade war, which has created uncertainty in the market, according to Bob Tate, Executive Director of the Papua New Guinea Forestry Industry Association. He told Business Advantage PNG China remains PNG’s dominant export market.

Will Papua New Guinea’s successful sovereign bond issue improve the foreign exchange situation for business?

The success of Papua New Guinea’s first US$500 million bond issue will depend on the government’s spending focus, according to Paul Barker, Director of PNG’s economics research think tank, the Institute of National Affairs. He tells Business Advantage PNG that the private sector has to get access to foreign exchange because of extended delays.

Sovereign bond issue will ‘test’ Papua New Guinea’s market access, says Standard & Poor’s

The Papua New Guinea government has begun spruiking its sovereign bond issue with a series of meetings with investors in Singapore, Hong Kong, London and the US, led by Treasurer Charles Abel. However, while Standard and Poor’s has given the issue a ‘B’ stable rating, others say the government may have to offer a premium to attract investors.