Despite cuts to foreign aid spending in this year’s Australian Federal budget, released this week, Papua New Guinea will gain an extra A$59 million (K155 million) and regional programmes also stand out as the beneficiaries from this year’s budget, according to analysts.
Canadian mining company Nautilus Minerals will accelerate its range of seabed mining projects across the Pacific, after finally signing a US$120 million (K336 million) agreement with the Papua New Guinea government to develop its Solwara 1 mining project in the Bismarck Sea.
While businesses are open again in the centre of Honiara, Solomon Islands, after last week’s devastating floods, transport appears to be the main problem facing business owners.
New Caledonia’s tourism industry finally seems intent on fulfilling its tremendous potential, as new high-end properties open and direct flights to Melbourne are launched.
The Californian-based Neptune Pacific Line has agreed to buy a 50 per cent controlling interest in the Pacific Forum Line from the Samoan government.
There’s a new Liberal-National Coalition government in Canberra, led by Tony Abbott. Jenny Hayward-Jones considers the implications for Papua New Guinea and the Pacific.
Construction of Papua New Guinea’s national broadband network is progressing, with major milestones set be reached by mid 2015, according to technology consultant Sundar Ramamurthy, who is assisting the PNG government’s Independent Public Business Corporation on the project.
While reduced global commodity prices are having a major impact on Papua New Guinea government revenues this year, there are ‘incipient signs of a turnaround’, according to data published in the latest ANZ Pacific Quarterly, released this week.
We put five quick questions to international economist Tim Harcourt, who will visit Papua New Guinea next month for the 2013 Papua New Guinea Advantage investment summit.
For the first time since Fiji’s 2006 coup, the annual Australia-Fiji Business Forum was held in Australia earlier this week.