The latest business news from Papua New Guinea and the region
The operators of the Papua project are expected to make a financial investment decision on the project in 2019. But now that Papua New Guinea has ‘proven itself’ as a good manager of major global projects, it should be able to negotiate less generous terms with the operators of the second LNG plant, say economists and investment analysts.
‘First past the post’ voting system to return, expansion of Milne Bay airport, and rugby league now a K15m a year business. Your weekly digest of the latest business news.
Private-public partnerships are the best way for Papua New Guinea to deal with its health needs, Sandeep Shaligram, Chief Executive of Pacific International Hospital tells Business Advantage PNG. He says the hospital is looking to train locals and start a nursing college.
ExxonMobil, Oil Search close LNG production facilites after quake, analysts expect kina to fall ‘over the near-term’, and agreement being finalised to allow Philippines farmers to grow rice in PNG. Your weekly digest of the latest business news.
A ‘cash culture’ in Papua New Guinea is beginning to change and there is more willingness to buy shares, according to Aiabba Minerals Executive Chairman and Managing Director, Moses Mondowa. He tells Business Advantage PNG it is a significant shift for the future success of the country’s resources and business sectors.
Oil prices are up and copper is also strong, but LNG has weakened. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
Papua New Guinea’s APEC year has started, with the first Senior Officials Meeting now under way in Port Moresby. Recent experience shows the year will be successful, according to the country’s APEC Ambassador, Ivan Pomaleu. David Toua, chair of the APEC Business Advisory Council (ABAC) says it is necessary to support globalisation.
Total public debt stands at K23.5 billion, review of gun licences for private security firms likely, and People’s Micro Bank to be commercialised later this year. Your weekly digest of the latest business news.
House prices still remain out of reach for most Port Moresby residents, according to a report by the National Research Institute. It says that changing the approach to customary land has become necessary because state land is running out.
Business Advantage PNG’s PNG 100 CEO Survey of chief executives in Papua New Guinea’s biggest companies has found that profit expectations were only partly met last year, but there are signs of growing confidence in 2018.