Mobile phone competition in Papua New Guinea and Solomon Islands is about to get tougher, after a deal which will see about US$250m (K550 million) in new funding for PNG’s second carrier, BeMobile, which will see it relaunched as Vodafone BeMobile.
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Papua New Guinea’s gross domestic product is set to increase by 5.5% in 2013, according to the Asian Development Bank’s latest Pacific Economic Monitor, released last week. This is compared to growth of 9.2% in 2012.
The four-year feasibility study on Solomon Islands’ Tina River hydro dam project on Guadalcanal Island is nearing completion and a final report will go to government in September this year.
Economic growth in Solomon Islands is expected to rise at a moderate four to five percent this year, a little lower than the 5.5% growth rate in 2012.
A small nation with vast reserves of natural resources… sustained and stellar GDP growth despite a challenging operating environment… tension between foreign investors and those in the local population who believe their birthright is being sold off too cheaply… a copper and gold mine large enough to contribute a third of the nation’s GDP.
With a new investment guide just published on New Caledonia, we find out what is happening in Papua New Guinea’s French-speaking Melanesian neighbour.
Papua New Guinea business is set to receive a major boost from supplying the Pacific Games 2015, as Games CEO Peter Stewart explains.
Tough market conditions have led to a sudden shake-up in South Pacific shipping, with Auckland-based Reef Shipping going bankrupt and being acquired by Hawaii-based Matson
The hand-picked Chairman of Fiji’s Constitution Commission, Kenyan-born barrister Yash Ghai, fell foul of Fiji’s military government for printing 600 copies of the country’s newly-completed draft constitution. These were confiscated and set on fire in front of him by police before the ink had dried.
Business Advantage PNG spoke with the region’s three most senior bankers to get their thoughts on the year ahead.