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Papua New Guinea’s foreign exchange and budget situation improving, says central bank Governor

29 Jan 2019 by Leave a Comment
The Governor of the Bank of Papua New Guinea, Loi Bakani, says the foreign exchange market is on track to return to normalcy. In an exclusive interview with Business Advantage PNG, he says the PNG LNG project has begun paying taxes for the first time, which is improving the Government’s budgetary position.
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In brief: State-owned enterprises told to lift performance and other business stories

22 Jan 2019 by Leave a Comment
Papua New Guinea's state-owned enterprises given pep-talk by Minister, new Credit Guarantee Corporation to be established and Ramu NiCo sales fall. Your weekly digest of the latest business news.
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Innovative Agro Industry planning four new agricultural projects in 2019

22 Jan 2019 by 1 Comment
After the successful launch of its first dairy farm and the 9 Mile Highlands Produce Depot last year, Innovative Agro Industry has four major expansion projects underway for 2019. Business Development Manager, Gallit Tamir, tells Business Advantage PNG, they include a second dairy farm, a frozen French fries processing plant, and large-scale coffee, cocoa, grain, stock feed processing and poultry production projects.
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In brief: Papua LNG project to put Papua New Guinea as leading LNG exporter, and other business stories

15 Jan 2019 by Leave a Comment
Forex turnover more than K4b in October, call for joint PNG-Australia coastguard initiative, and one kina chocolate bar on sale locally. Your weekly digest of the latest business news.
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MOU signed for Wafi-Golpu copper-gold mine in Papua New Guinea

21 Dec 2018 by 2 Comments
Developers Newcrest Mining and Harmony Gold have signed a memorandum of understanding with the Papua New Guinea Government for the development of the Wafi-Golpu copper-gold mine in PNG's Morobe Province. While the MOU indicates negotiations are proceeding well, there is still plenty of work to be done before the project gets a green light from government, local communities and investors.
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Electrification Partnership beginning of new era for PNG Power

12 Dec 2018 by 4 Comments
Carolyn Blacklock, the acting Managing Director of PNG Power, says the money that will come from the Papua New Guinea Electrification Partnership established at APEC will greatly assist the roll out of electricity. She says PNG Power has sharply increased the number of connections it is making and is aiming to concentrate on hydropower.
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‘Fundamental change’ needed with Papua New Guinea state-owned enterprises

11 Dec 2018 by 3 Comments
Kumul Consolidated Holdings, the holding company for Papua New Guinea’s state-owned enterprises (SOEs), has released its Year in Review. It says that 2018 has been ‘particularly difficult and challenging’ for the country's SOEs and that a fundamental change is necessary if the enterprises are to expand.
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APEC hailed by organisers as a success for Papua New Guinea despite tensions

11 Dec 2018 by 2 Comments
Papua New Guinea’s hosting of APEC 2018 was a success, say three senior figures involved in its organisation. Ivan Pomaleu, PNG’s APEC Ambassador, suggests that the country achieved all of its goals in spite of the lack of a consensus within the group of 21 nations.
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