Latest news

A new board member at the Bank of South Pacific

Restricting the margins at which the kina can be traded against the US dollar has had little positive effect, with some companies struggling to pay bills, as the central bank reportedly restricts the purchase of US currency, Manufacturers Council of Papua New Guinea CEO Chey Scovell tells Business Advantage PNG.

Central bank governor says economic stability dependent on kina pegging, Panguna landowners support re-opening of gold and copper mine, and 2015 Budget may be a deficit budget with ‘no significant strategic changes’. Your weekly digest of the latest business news.

Call for government to lower interest rates, inflation rises and Air Niugini reduces fuel surcharge. Your weekly digest of the latest business news.

Last week’s elections in Fiji are ‘credit positive’, according to the Moody’s rating agency, after the leader of the 2006, Commodore Frank Bainimarama was sworn in this week as a democratically-elected prime minister.

China lifts freeze on funding for Pacific Marine Industrial Zone, only five SABL leases handed back and Malaysian company to build satellite township in Central province. Your weekly digest of the latest business news.

Local landowner companies benefit from PNG LNG project, PNG Government takes Woodlark stake, and Buka Airport disrupted by shut down. Your weekly digest of the latest regional business news.

There is enough gas capacity in PNG for at least three more LNG trains over the next five-to-seven years, according to Oil Search CEO, Peter Botten, who’s called for gas developers to co-operate and share facilities.

The partial privatisation of Air Niugini will be the first in a series of privatisations. Opening the 2014 Papua New Guinea Advantage Investment and Infrastructure Summit in Port Moresby this week, Prime Minister Peter O’Neill said removing government ownership will reduce waste, inefficiencies and corruption.

A new approach to managing PNG’s economy, Manus Island detention centre to be ‘wound down’, and PNG cricketers turning professional. Your weekly digest of the latest regional business news.