Telikom PNG launches a COVID-19 helpline, mining companies announce contingency plans and studies conducted at the Frieda River project site to be finalised. The news you need to kickstart your week.
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The latest business news from Papua New Guinea and the region
With the first case of COVID-19 in PNG announced at the weekend, there are warnings there could be essential-item shortages and changed working conditions, but business has been preparing for its arrival.
The rapid spread of the coronavirus COVID-19 has disrupted global economic activity and led to a fall in financial markets. But the story is very different for big companies in Papua New Guinea, although there will be some adverse impacts, especially in the oil and gas sector.
As Papua New Guinea’s near neighbour, Australia, sees panic buying and mass event cancellations, PNG’s government and state-owned entities are using its global head start to set up a raft of new measures.
The World Bank predicts lower export revenue for Papua New Guinea, fuel prices set to fall, and retailer appeals for calm. The business news you need to kickstart your week.
Papua New Guinea’s Government is set to rely heavily on concessional finance from multilateral institutions, according to ratings agency Moody’s. The agency is maintaining a B2 rating for PNG debt but has some surprising revelations about the country’s finances.
Analysts have contrasting views on the effect of the oil price war between Russia and Saudi Arabia on long-term oil and gas projects in Papua New Guinea. David James considers these, and the likely impact on domestic petrol and diesel prices.
The National Airport Corporation signs an agreement to upgrade Kavieng Airport, NKW Fresh signs a deal to support farmers in Morobe Province and Air Niugini turns around K133 million loss in 2018 to a profit. The news you need to kickstart your week.
With lower prices, and more investment in customer service and infrastructure, state-owned telco Bmobile says it is ‘competition ready’ in the face of a dominant existing market leader and a new competitor due later this year.
Papua New Guinea’s mining sector recorded its lowest result for five years in the Fraser Institute’s annual Investment Attractiveness Index. We consider the reasons, and their impact on PNG’s global competitiveness.