Papua New Guinea’s very own gourmet chocolate may have only been on sale for a few weeks, but its production line has already been honoured with a visit from the recent business delegation that accompanied the Thai Prime Minister.
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The latest business news from Papua New Guinea and the region
From this month, the European Union (EU) won’t be accepting illegally produced wood products. What impact will its decision have on PNG’s forestry sector?
Papua New Guinea’s first listed investment company, Kina Asset Management Ltd, (KAML) has announced a net profit of K4.73m ($US2.21m) in 2012, compared to a net loss of K9.43m (US$4.41m) the previous year.
Papua New Guinean finance company Credit Corporation, the target of recent buyout interest from BSP, has posted increased profits of K106.11 million in the financial year ending 31 December 2012.
The codeshare arrangement between Airlines PNG and Virgin Australia should be allowed to continue, according to a draft decision released yesterday by the Papua New Guinea Independent Consumer and Competition Commission (ICCC).
Oil and gas exploration and production company, Oil Search, has reported a US$175.8 m profit in its preliminary annual results, a 13% fall on last year, which the company attributes to high exploration expenses.
New Britain Palm Oil Limited reported a 70.4% gross profit decrease to US$81.6m in 2012.
PNG’s first privately-built hydro electricity power station has opened in Bulolo, Morobe Province.
Electronic submission of tax returns and assessments, and a simpler Papua New Guinea tax system are just two of the measures to be delivered under the Internal Revenue Commission’s (IRC) new 2013 to 2017 corporate plan, launched last month.
The Papua New Guinea branch of global consulting firm Deloitte Touche Tohmatsu is opening a branch in the Solomon Islands capital, Honiara.