A new report indicates that most Papua New Guineans still consider house prices to be out of reach, although some believe this is an ideal time for buying.
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The latest business news from Papua New Guinea and the region
ANZ releases a positive economic outlook for PNG, James Marape resigns as Finance Minister and the Boluminski Highway in New Ireland province is open. Your weekly digest of business news.
The March Monetary Policy Statement from the Bank of Papua New Guinea has urged the government to rethink the way it negotiates concessions and tax exemptions with new resources projects. Taking a strong position, it points to how previous agreements have been a factor in foreign exchange shortages and adverse trends in government finances.
The Papua New Guinea State has signed the gas agreement for the US$10 billion (K33.7 billion) Papua LNG project with Total, ExxonMobil and Oil Search. The project, which will double PNG’s gas production, represents the second-largest foreign direct investment ever in the country.
The signing of the Papua LNG project deferred, PNG LNG signs Singapore deal, and Minister flags new Mining Act. Your weekly digest of the latest business news.
Leading social commentator and business analyst Bernard Salt AM and futurist Mark Pesce have been confirmed as the two keynote speakers for this year’s Business Advantage Papua New Guinea Investment Conference, to be held in Sydney on 19 and 20 August.
The State of Papua New Guinea has lost its attempt in the Singapore High Court to wrest control of the remaining assets of PNG Sustainable Development Program Ltd (PNGSDP), worth US$1.4 billion (K4.72 billion).
With the signing of the Papua LNG gas agreement with Papua New Guinea’s government imminent, Managing Director of Total PNG Ltd, Jean-Marc Noiray, shares his thoughts on the US$10 billion Papua LNG project with Business Advantage PNG.
Data costs are likely to fall by 80 per cent because of the Coral Sea Cable System, which is scheduled to be connected to Port Moresby later this year, according to Peter Williams, Chief Executive of Deloitte Digital. He believes Papua New Guinean businesses will have to rethink their approach to investment, hiring, management and technological roll out.
Oil prices have strengthened, but LNG prices have come off sharply. Copper has eased slightly. Business Advantage PNG’s monthly overview of commodity and financial markets.