Warnings that proposed changes to Papua New Guinea’s Land Act could harm economy

During May, forums were run in Port Moresby, Lae, Mt Hagen and Kokopo to solicit public responses to the Papua New Guinea government's new land bill. The intent of the new bill is to protect the rights of customary landowners, by extinguishing any State leases, mortgages or sub-leases held by non-citizens. But the consequences for PNG industry and the economy could be dire, some observers are saying.
Read More

In brief: Shortage of foreign exchange hindering investment, concerns about Customs procedures and Crowne Plaza on the market

Shortage of foreign exchange hindering investment, concerns about Customs procedures and the Crowne Plaza Port Moresby hotel up for sale. Your weekly digest of the latest business news.
Read More

In brief: Finance Minister Marape says economy ‘doing well’ and other business stories

Finance minister Marape says PNG economy 'doing well', European Investment Bank invests in PNG for first time in 21 years and Memorandum of Agreements to be presented for seven copper and gold mines. Your weekly digest of the latest business news.
Read More
advertisment...

In brief: Bank of PNG pursuing foreign exchange options and other business stories

Bank of Papua New Guinea negotiating with 'partners' about foreign exchange, Oil Search to address competition issues and Travel Air to resume operations. Your weekly digest of the latest business news.
Read More

Moody’s bullish on longer term future of Papua New Guinea economy

Moody’s recently downgraded its sovereign rating on Papua New Guinea to B2 from B1. But Christian de Guzman, a Senior Analyst in the Sovereign Risk Group for Moody’s Singapore tells Business Advantage PNG that the agency is ‘quite confident’ about the overall economy’s prospects over the medium-term.
Read More

In brief: PM assures students 2016 Papua New Guinea Budget will be implemented, and other business news

O'Neill assures students 2016 Budget will be implemented, Singapore's Jaya Holdings buys Moni Plus for K518million and Bougainville aims for mid-2019 independence vote. Your weekly digest of the latest business news.
Read More

Oil Search’s InterOil acquisition to consolidate company as regional player in oil and gas

Oil Search, Papua New Guinea’s biggest company and largest non-government employer, looks set to consolidate its position as a major player in the Asia Pacific oil and gas market with its $US2.2 billion purchase of InterOil. Chief Executive of Oil Search, Peter Botten, says it will allow the company to be ‘hugely influential in the further development of our world class PNG LNG and Papua LNG assets.’
Read More