Papua New Guinea economy on the cusp of a mining boom, kina’s fair value ‘around US 23-25 cents’, and niche tourism could nearly triple tourism numbers in 10 years. Your weekly digest of the latest business news.
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The latest business news from Papua New Guinea and the region
S&P Global Ratings has lowered its long-term foreign and local currency sovereign credit ratings on Papua New Guinea (PNG) to ‘B’ from ‘B+’, but it believes the outlook is ‘stable’. The agency points to bigger than expected fiscal deficits because of ‘a loss of revenue and reconstruction costs after a recent earthqu
Oil prices and silver are up: a monthly review of Papua New Guinea’s commodity and financial markets
Oil prices are rising and silver is also strengthening. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
Hausples.com.pg has released its Real Estate Survey 2018, which shows that the biggest challenge for the market is supply side factors such as land titles, infrastructure and private sector investment. But it says these issues ‘are slowly being addressed’ and that there is ‘unequivocal market demand for housing at various price points.
Paint company Akzo Nobel is taking a new strategic direction in Papua New Guinea, according to Chief Executive Officer, Navin Raju. He tells Business Advantage PNG that the prospects for growth are sound.
Production resumes at the LNG plant as more reserves found, BHP Billiton to be sued over alleged environmental damage, and talks with China over a free trade agreement. Your weekly digest of the latest business news.
Eminent scientist Professor Tim Flannery will be one of the key speakers at this year’s Business Advantage Papua New Guinea Investment Conference at the Sofitel Brisbane Central on 6 and 7 August this year.
Papua New Guinea Commerce Minister wants stock exchange opened up to attract more foreign investment
Commerce and Industry Minister, Wera Mori, says the government is focusing on new laws to open up Papua New Guinea’s capital markets to attract foreign investment. He also told business in Port Moresby this week that the government alone cannot rebuild the country’s economy and has called for a new bond between the state and the business community.
Rise in foreign exchange reserves expected, K1.3 billion required annually for road maintenance work, and Ramu nickel project to have 35 year life. Your weekly digest of the latest business news.
The Extractive Industries Transparency Initiative Report for 2016 has found that improvements are being made to registry and payment systems, but more needs to be done. It notes that budgeting to government revenues remains difficult because of the industry’s volatility and the relatively small number of companies paying full tax.