The latest business news from Papua New Guinea and the region
The kina has fallen in value this year, but Papua New Guinea’s dependence on commodity exports means that it can be expected to fall further, says Rohan Fox, Lecturer and Research Fellow at the University of Papua New Guinea’s Division of Economics. He tells Business Advantage PNG that the country faces a difficult task managing the impact of sharp fluctuations in commodity prices.
BSP committed to IFC foreign exchange loan facility, PNG to have its first dairy farm, and Kina Asset Management investments up in first quarter. Your weekly digest of the latest business news.
E-commerce, empowering women in business and anti-dumping measures were highlights of last month’s APEC Business Advisory Council (ABAC) meeting in Port Moresby. Business Advantage PNG asked Douveri Henao, Lead Staffer for ABAC, for his response to the meeting.
The government announces the board of the new SME Corporation, a new General Manager at Link PNG, a new chief of staff for the PM, and two new board members at the PNG Chamber of Mines and Petroleum
Sir Mekere Morauta calls for ‘genuine government effort’ to resolve K2 billion dispute, IFC approves credit facility and Manus business leaders want to be treated as a ‘special case’, if detention camps close. Your weekly digest of the latest business news.
France’s Total SA has confirmed its plans to commence construction for Papua LNG, the country’s next big liquefied natural gas project. Business Advantage PNG spoke with Philippe Blanchard, Managing Director of its PNG subsidiary, Total E&P PNG, to learn more about its race to start construction in 2018.
In an environment of plummeting interest rates, long term infrastructure investment is a sound option for both investors and governments. Financial and business commentator Michael Pascoe, speaking in Port Moresby last week, noted that the difficult global financial environment throws up opportunities for countries like Papua New Guinea.
The Bank of PNG has granted exemptions to some PNG insurance companies from the tight foreign exchange restrictions, to enable the general insurers to meet their reinsurance commitments to international reinsurers.
Total SA Chairman says company is planning to commence construction of LNG plant in 2018, Ramu NiCo ordered to stop operating nickel mine and Harmony Gold reports ‘continuing exploration success.’ Your weekly digest of the latest business news.
Business Advantage International’s PNG 100 CEO Survey of chief executives of Papua New Guinea’s biggest corporations has found that many business leaders struggled to meet their expectations for profits in 2015. Only 4 per cent exceeded what they expected. But despite the tough times last year, the mood is cautiously optimistic.