Papua New Guinea’s Mid-Year Economic and Fiscal Outlook shows inflation slowing, Airbus wins race to replace Air Niugini fleet, while Securities Commission revokes Melanesian Trustee Services Limited’s trustee license. Your business news in brief.
In brief
The week’s business news in summary. In Brief is sourced from a variety of Papua New Guinea and international media outlets as a service to our readers. Business Advantage PNG makes no claim for the veracity of third party sources.
Energy regulator announces an increase in power prices to support the rehabilitation of PNG Power, Nambawan Super threatens to lock out its government tenants and Wafi-Golpu negotations continue. Your business news in a nutshell.
Puma Energy head asks for help with foreign exchange to avoid fuel shortages, new World Bank report calls for reforms in PNG, Harbourside South development nears completion. Your business news in brief.
Reforms to Papua New Guinea’s capital markets, Securities Commission of PNG to investigate the potential sale of minority stake in Trukai Industries, and Newmont and Newcrest told of government’s expectations. Your news in brief.
Special Mining Lease application for the Porgera mine lodged, Japanese company JX Nippon to hold a stake of Papua LNG, and Papua New Guinea’s first green finance policy launched. Your business news in summary.
Papua LNG spending to help restore Papua New Guinea’s foreign exchange market, Bank of China opens representative office in Port Moresby and New Porgera clarifies future payments to Barrick.
Reduced internet costs could be expected this year, the Finschhafen District Hydropower Project advances and the Prime Minister of India visits Papua New Guinea to participate in forum.
Results of Special Economic Zone (SEZ) Summit expected to help Papua New Guinea develop a new SEZ roadmap, Australia and New Zealand pledge their support to World Bank programs in the Pacific, and Bougainville Copper declares losses for 2022.
Outstanding foreign exchange orders almost K1.5 billion according to Bank of PNG, Newmont makes offer for Newcrest Mining, and progress on Porgera gold mine. Your business news digest.
The Ramu 2 hydro power station looks to be on track, Mining Minister says there is interest again in Solwara 1 deep sea mining project and the IMF makes sizeable contribution to Papua New Guinea’s economy. Your business news today.