After a month of political jousting, the Marape government yesterday survived an Opposition challenge in Papua New Guinea’s Parliament and has apparently legally passed the 2021 National Budget.
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The latest business news from Papua New Guinea and the region
In a move which has major implications for Papua New Guinea’s governance and national budget, the Supreme Court has ruled that the sitting of Parliament of 17 November was unconstitutional and invalid. It has ordered Parliament resume next Monday 14 December.
The prospects for the prices of metals Papua New Guinea exports are mostly positive, reports David James from the recent International Mining and Resources Conference.
Kina Bank has consolidated its position as Papua New Guinea’s second largest bank, and also taken a first step towards becoming a regional bank, by acquiring the assets of Westpac in Papua New Guinea and Fiji.
Supreme Court to make ruling, Telikom PNG cuts fixed-line call services, and a Total delegation readies to talk Papua LNG. The business news you need to kickstart your week.
JMP Securities has acquired Bank South Pacific’s stockbroking business in Papua New Guinea. Co-founder and Managing Director Lars Mortensen tells Business Advantage PNG he sees great opportunity for growth.
The United States and PNG working on trade and investment framework, Supreme Court rules Marape legally elected and Morobe Provincial Government to be first provincial government to engage directly in alluvial mining. The business news you need to kickstart your week.
Papua New Guinea’s tourism, manufacturing, retail and agriculture should be the main targets for further government support, contends Douveri Henao, Executive Director of the Business Council of Papua New Guinea. He also reveals the sectors that had received the biggest boost during the COVID-19 crisis.
Oil and cocoa prices soar while the LNG price stabilises. Business Advantage PNG’s monthly overview of commodity and financial markets.
Oil Search has announced in a recent strategy update that it will continue to reduce costs and pull back on exploration. However, the company says it intends to make the Papua LNG project a priority.