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Pacific International Hospital, Papua New Guinea’s only private hospital offering advanced tertiary healthcare, continues to introduce medical treatment not previously available in the country at its new facility in Port Moresby. CEO Dr Amyna Sultan told Business Advantage PNG that the PIH is now focused on making this treatment more affordable for average families.

A World Bank report says Papua New Guinea government spending should be curbed to avoid a possible ballooning budget deficit.

Singapore company aims to recapitalise and restart Tolukuma gold mine, NPCP to contribute K450 million to Supplementary Budget, and PNG Defence Force ventures into business. Your weekly digest of the latest business news.

International ratings agency Standard and Poor’s has revised its outlook for Papua New Guinea from ‘stable’ to ‘negative’. While maintaining PNG’s B+/B rating, S&P’s Director of Sovereign & Public Finance Ratings explains to Business Advantage PNG why there’s a one-in-three chance the rating could be lowered in the next 12 months.

While the number of work permits Papua New Guinea has issued to Pacific Islanders has quadrupled in the last ten years, Pacific workers still make up just one per cent of the total foreign work force in the Pacific’s largest economy. But that may be about to change.

As Papua New Guinea’s business community continues to face foreign exchange shortages, ANZ Bank has called for a relaxation of the enforced trading band for the kina. Meanwhile, analysts say the kina is facing further downward pressure from the US dollar.

Woodside talks to National Petroleum Company, ratings agency expects oil prices to fall further, and illegal logging continues, says Oro Governor, Your weekly digest of the latest business news.

A shift in priorities continues at the University of Papua New Guinea (UPNG) with the recently named PNG School of Business and Public Policy established to improve the performance of the public service sector in the country as part of the Pacific Leadership and Governance Precinct.

Analysts predict Woodside will up its takeover offer for Oil Search, Business leader estimates K1.5 billion in foreign currency waiting for processing, and NZ re-opens its trade office in Port Moresby. Your weekly digest of the latest business news.

A decision on who will build a second K300 million berth at the Port of Lae is expected by the end of 2015 and construction due to commence in 2016, according to PNG Ports’ Chief Executive Officer, Stanley Alphonse. A new industrial park and an international operator for the port is also on the cards.