More high-quality exports needed for PNG, new approaches will assist PNG in meeting energy demand, and Japan’s Pan Pacific expects copper recovery. Your weekly digest of the latest business news.
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The latest business news from Papua New Guinea and the region
The 30 per cent jump in the value of Kina Securities when it listed jointly on the Australian Securities Exchange and the Port Moresby Stock Exchange last Thursday ‘exceeded our expectations’, Chief Executive Officer Syd Yates tells Business Advantage PNG.
The El Nino weather pattern which has seen the temporary closure of the Ok Tedi mine could potentially last for up to a year, according to former senior PNG agriculture business executive, Bob Hansen, adding the loss of mining income could be as much as K2.77 billion a year.
Treasury says Deficit rises to 9.4% of GDP, foreign advisers ban, and parliament passes Sovereign Wealth Fund bill. Your weekly digest of the latest business news.
A drilling campaign covering 1.5 km in the Gulf region has revealed there is enough high quality coal to run a 50-megawatt power station for 30 years, according to Paul Mulder, CEO of Brisbane-based unlisted miner, Mayur Resources.
Vanuatu’s Reserve Bank rejects sale of Westpac Vanuatu to BSP, Airlines PNG invited to fly into Samoa and ‘show cause’ notice issued over slow progress of new Lae highway. Your weekly digest of the latest business news.
Pacific economies are expected to grow an average of 9.9% in 2015, as ‘positive external flows outweigh the impacts of recent disasters’, according to the Asian Development Bank’s Pacific Mid-Year Review.
Proposed Sovereign Wealth Fund reaches third reading stage, Air Niugini ‘on track’ for 50% sell-off, and second LNG plant to create 10,000 jobs. Your weekly digest of the latest business news.
Retailers, tourism operators and the hospitality industry are the main business beneficiaries of the 2015 South Pacific Games being hosted in Port Moresby, according to ANZ Economist Dan Wilson.
The selection of the two key sites to develop Papua New Guinea’s Elk Antelope LNG fields was a difficult task, requiring a full set of studies to reach a decision, according to Philippe Blanchard, the Managing Director of Total PNG, the lead operator of the project.