Latest news

Papua New Guinea agribusiness Mainland Holdings is launching into new agricultural sectors to reduce its reliance on imports. Chief Executive David Alcock told the Australia Papua New Guinea Business Forum that the company intends to grow sorghum and soya beans to use as stockfeed in partnership with local farmers.

Papua New Guinea is on the verge of a resources boom, according to Kishti Sen, International Economist for the ANZ Banking Group. He told the recent Australia–Papua New Guinea Business Forum that the challenge is to manage the economic cycles.

A court hearing this week (17 May) in Port Moresby will help determine if there is a judicial review of the Bougainville government’s decision to refuse the extension of an exploration licence for the Panguna copper mine. Also that day, a federal court hearing will be asked to rule on the release of documents showing the relationship between dissident landowners and a Perth-based company seeking exploration rights to Panguna.

Bougainville referendum on agenda, Irish potatoes harvested in trial, and Mining Minister reassures landowners. Your weekly digest of the latest business news.

A proposed timber processing facility near Lae is positioned to fill a niche and play an important role in the forestry industry’s future, according to Tony Bartlett, forestry research program manager at the Australian Centre for International Agricultural Research (ACIAR).

APEC’s focus will be on the services trade and the digital economy, Alan Bollard, Executive Director of the APEC Secretariat, told the Australia Papua New Guinea Business Forum and Trade Expo in Brisbane last week. He said the APEC region now represents about half the world economy.

Retailer and wholesaler TE (PNG) is a diversified and adaptable company, says new Managing Director Robbie Huxley. He tells Business Advantage PNG he decided earlier this year to buy the 60-year-old company because he sees a positive future for PNG

A US$500 million Eurobond to be issued later this year, Government owes US$88 million to local businesses and February earthquake bill to cost five percent of government expenditure. Your weekly digest of the latest business news.

In a move that will reassure Papua New Guinea exporters to the United Kingdom, the UK government has confirmed it will maintain the European Union’s current trading arrangements with PNG after ‘Brexit’. Meanwhile, Prime Minister O’Neill has flagged ‘huge incentives’ for investments in agriculture and tourism, Business Advantage PNG reports from London.

Kina Bank is working with the Australian government and other donors to set up a credit fund for small and medium sized business. CEO Greg Pawson has told business leaders in Port Moresby the scheme is part of the bank’s corporate responsibility.