The latest business news from Papua New Guinea and the region
Port Moresby-based retailer/wholesaler Supreme Group found itself needing products and services it couldn’t source in Papua New Guinea, so it decided to create them. Group Managing Director Sanjay Shah, tells Business Advantage PNG that the group has grown quickly and is anticipating more diversification.
To get investment into Papua New Guinea businesses, sound governance is essential. That was the view expressed by super fund managers, bankers and advisers at Business Advantage’s Investment conference in Brisbane.
Air Niugini launches new direct route, Total wins contract for Lihir Gold Mine, and a new state-owned-enterprise is formed. Your weekly digest of the latest business news.
The Papua New Guinea government has begun spruiking its sovereign bond issue with a series of meetings with investors in Singapore, Hong Kong, London and the US, led by Treasurer Charles Abel. However, while Standard and Poor’s has given the issue a ‘B’ stable rating, others say the government may have to offer a premium to attract investors.
Analysis of test results from a potentially new LNG find at the Barikewa-3 well in the Papua New Guinea Forelands is underway but it’s too early to say how that gas will be commercialised, according to well operator, Oil Search. Meanwhile, the signing of a long-term contract for gas from PNG with China confirms demand for gas from China will continue well into the 2020s.
A recent salary survey has identified the need for investment in local talent to support better outcomes for the country’s professionals and organisations. The 2018/19 Papua New Guinea Salary Survey Report by human resources consultancy Peopleconnexion PNG surveyed professionals across the country about salaries and attitudes at work.
Trump pulls out of APEC, China Navigation knocked back, and PNG on the verge of entering international capital markets. Your digest of the latest business news.
A completely redeveloped Loloata Island Resort, just out of Port Moresby, is scheduled to open in February or March of 2019, according to Lew Nielsen, Director of the resort. The signature tourism project is a joint venture of Lamana Development and NASFUND.
Foreign exchange inflows improving, Moni Plus opens in Lae, and changes to boards of government-owned businesses. Your weekly digest of the latest business news.
LNG prices have jumped sharply and the cocoa price has been volatile. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.