While reduced global commodity prices are having a major impact on Papua New Guinea government revenues this year, there are ‘incipient signs of a turnaround’, according to data published in the latest ANZ Pacific Quarterly, released this week.
Latest news
The latest business news from Papua New Guinea and the region
Twitter, the world’s fastest-growing social media platform, will make a presentation to delegates of the Papua New Guinea Advantage international investment summit in Port Moresby next month, organisers have confirmed.
Commercial banks in the Solomon Islands have closed down several logging company bank accounts, in a move that will make it almost impossible for those companies to receive export proceeds.
The Independent Public Business Corporation says it is now talking directly with Vodafone UK to bring the global telecommunications giant to run BeMobile PNG.
Melbourne-based mining company, Newcrest Mining Ltd, which has extensive mining assets in Papua New Guinea, has ended the financial year with a net loss of AUD$5.778 billion (K 12.29 billion) for 2012–13.
The Papua New Guinea government is looking for a new partner to develop the country’s second mobile phone carrier, Bemobile, after the Fiji National Provident Fund suddenly pulled out.
Prime Minister O’Neill’s promise to leave the management of Ok Tedi Mining Ltd in place when his government takes over the mine is ‘very reassuring’, according to the company’s managing director, Nigel Parker.
For the first time since Fiji’s 2006 coup, the annual Australia-Fiji Business Forum was held in Australia earlier this week.
The Lae Chamber of Commerce (LCCI) says the Rudd–O’Neill asylum seeker deal ‘will be positive for business’, according to chamber president, Alan McLay.
More than 70 business delegates representing 53 Papua New Guinea companies from various industries are participating in a trade show in the Solomon Islands this week.