In brief: PM to launch construction phase of Pacific Marine Industrial Zone project, and other business stories

Pacific Marine Industrial Zone construction to start this month, personnel emoluments overruns costing PNG millions, and Newcrest Mining delivers profit. Your weekly digest of the latest business news.
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Five questions for: Arthur Lenoir, Leader of the French Trade Delegation to Papua New Guinea

The entry of the global French-based energy giant, Total SA, has prompted the first French-only trade delegation to Papua New Guinea, which will visit Port Moresby and Lae next week. Delegation Leader, Arthur Lenoir, explains the rationale for the trip to Business Advantage PNG.
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Reserve Bank Governor says Papua New Guinea has a lot to learn from Fiji about tourism

Despite being the biggest Pacific nation, PNG is lagging behind its neighbours, holding only 10% of the regional tourism market, says the Governor of the Bank of Papua New Guinea, Loi Bakani. And on a global scale, PNG ranks last in terms of benefitting economically from tourism.
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Pacific International Hospital targets more affordable health services in Papua New Guinea

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.
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In brief: Tolukuma gold mine sale to lead to restart of operations, and other business stories

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.
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Ratings agency revises Papua New Guinea outlook down, but maintains rating

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.
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Foreign exchange controls affect Papua New Guinea business as ANZ calls for changes to kina trading range

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.
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In brief: Woodside Petroleum talks with National Petroleum Co after Oil Search takeover rejected, and other business stories

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.
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