LNG prices have surged clawing back earlier losses, while the oil price is steady and cocoa is also strong: Business Advantage PNG’s monthly overview of commodity and financial markets.
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The latest business news from Papua New Guinea and the region
When it comes to Papua New Guinea’s resources sector, the government wants a better share of the rewards, but the industry is warning that the country is becoming a less attractive destination for investment.
Papua New Guinea and Japan sign a Statement of Intent, PNG launches a National Energy Policy and potential changes to the way Kumul Petroleum Holdings and Kumul Mineral Holdings operate. The business news you need to kickstart your week.
In a development that will give heart to the country’s mining sector, Papua New Guinea’s government has granted a 20-year mining lease to Mayur Resources’ US$350 million (K1.125 billion) Central Cement and Lime Project in Papua New Guinea’s Central Province.
Secretary of the Department of Land and Physical Planning, Benjamin Samson, talks to Business Advantage PNG about how his department’s move into e-government might increase revenue and make life easier for business.
A report on Huawei’s data centre in Papua New Guinea shows it has security vulnerabilities, the Frieda River project gets a no from the East Sepik Provincial Assembly and new internet prices expected this year. The business news you need to kickstart your week.
The Port Moresby ‘lockdown’ is over and Prime Minister James Marape has said that Papua New Guinea will have to ‘adjust to living with COVID-19’. Eleven new measures will help show the way for business and PNG citizens alike.
Papua New Guinea and Australia sign economic partnership agreement, seafood venture for New Ireland, and K200 million for SMEs still on its way. The business news you need to kickstart your week.
COVID-19 has reached Papua New Guinea’s mining sector, with its two major mines announcing cases. Meanwhile, new measures are being introduced in response to the growing numbers of infections.
At a time when private sector investment is stalling, the A$2 billion [K4.96 billion] Australian Infrastructure Financing Facility for the Pacific is ramping up and targeting projects that will help drive Papua New Guinea’s economy.