Growth across the Pacific region is expected to slow slightly during 2013, with Timor Leste, Papua New Guinea and Nauru the outstanding performers, according to a mid-year review by the Asian Development Bank.
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The latest business news from Papua New Guinea and the region
Following recent announcements that it will aim to reduce operating costs at its Papua New Guinea sites, Newcrest Mining Ltd will cut at least 150 jobs from its workforce at the Lihir gold mine.
Papua New Guinea must be more than an exporter of raw materials and must embrace innovation and new technologies to open up new business opportunities, according to the president of the Asian Development Bank, Takehiko Nakao.
Commodities prices have been sold off heavily over the past week on worries that the global economy will slow. What does this mean for Papua New Guinea’s agricultural producers?
Market reaction to the proposed move to make New Britain Palm Oil Limited (NBPOL) a subsidiary of Malaysian company Kulim (Malaysia) Berhad has been generally positive, although one observer questions why PNG-based investors aren’t taking advantage of the fall in NBPOL’s share price.
The newly-appointed head of the Bougainville landowners group is cautiously optimistic that work to re-open the giant Panguna copper and gold mine could begin within two years.
Cloudy Bay Sustainable Forestry Ltd has achieved another milestone in its drive for sustainable development with the certification by the Forest Stewardship Council (FSC) for responsible forestry management.
Papua New Guinea’s currency, the kina, has lost around eight percent of its value against the US dollar over the past 12 months. What does this mean for business?
Just over one third of Papua New Guinea’s logging exports in 2012 came from Special Agricultural and Business Leases, the majority of which may not have received approval from customary landowners, according to analysis by Paul Barker, Director of the Institute of National Affairs.
In what is believed to be a first for Papua New Guinea, Lihir Island landowners will have access to a new lending scheme to finance their small businesses and help foster economic development on the island.