Two Papua New Guinea hotels have shut their doors temporarily because of the COVID-19 state of emergency and others have put in place tough measures to guarantee their survival.
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The latest business news from Papua New Guinea and the region
Papua New Guinea’s largest company, Oil Search, is proposing to raise US$700 million (K2.4 billion) to strengthen its balance sheet in response to declining oil prices. The company’s stake in the PNG LNG project may also eventually be on the table.
With Papua New Guinea’s second case of COVID-19 discovered in East New Britain, the province’s businesses are getting ready for weeks of disruption.
Papua New Guinea’s financial institutions offer businesses support for State of Emergency, Oil Search cuts staff, and Air Niugini to resume flights. The business news you need to kickstart your week.
Papua New Guinea’s government has announced its Budget deficit will balloon to more than K6 billion, the biggest in the nation’s history. Treasurer Ian Ling-Stuckey has announced a well-targeted stimulus, but the International Monetary Fund needs to come to the party.
With the recent death of more than 300 pigs in the Highlands region from African swine fever, the deadly virus has finally arrived in Papua New Guinea. What can the country and its farmers do to fight it?
The oil price has cratered and LNG prices have also been weak. Copper is down sharply and the cocoa price is also off sharply. Business Advantage PNG’s monthly overview of commodity and financial markets.
The Minister for Agriculture puts measures in place to stop the spread of the African swine fever and protect the pork industry, Prime Minister James Marape announces stimulus package and ICCC monitors shops to avoid price spikes in essential items. The business news you need to kickstart your week.
How is the 14-day state of emergency (SOE) affecting Papua New Guinea businesses? That all depends on the business you are in. We do a sector-by-sector breakdown.
After the coronavirus (COVID-19) arrived in Papua New Guinea this weekend, Prime Minister James Marape acted swiftly to shut the country down for 14 days – but what does that mean in practice?