Two Chinese companies to build Ramu 2 power project, 95 per cent of logs sent to China, and Lae business leaders welcome ADB loan for key roads. Your weekly digest of the latest business news.
Latest news
The latest business news from Papua New Guinea and the region
Papua New Guinea’s economy performed strongly on the trade front in 2016, according to the Bank of Papua New Guinea’s biannual Monetary Policy Statement. However, this did not translate into inflows of foreign exchange, and government revenues are expected to remain under pressure.
A major reform will see all Papua New Guinea’s state-owned telecommunications companies grouped under a single board for the first time. The Chairman of the new-look Kumul Telikom, Mahesh Patel, speaks exclusively to Business Advantage PNG about his board’s priorities for increased competition and ‘slashed’ internet prices.
Trukai to expand its Papua New Guinea rice production despite uncertainty, says CEO Worthington-Eyre
With the Papua New Guinean Government remaining tight-lipped on progression of its proposed rice policy, Trukai Industries is going ahead with the expansion of its rice business, Chief Executive Officer Greg Worthington-Eyre tells Business Advantage PNG.
Where in the world is Yamaha’s biggest boat manufacturing project? It’s in Papua New Guinea, Takeshi Abe, Chief Executive Officer of Ela Motors, tells Business Advantage PNG. He says a new 23-footer boat has been specifically designed to meet PNG flotation standards—and it’s being made in-country.
The big mover this month was the cocoa price which was up 6.6 per cent for the month according to Kina Securities. Otherwise commodity prices moved sideways or weakened. Business Advantage PNG’s monthly overview of commodity and financial markets.
A young Papua New Guinean entrepreneur is bringing Silicon Valley to PNG to help boost financial inclusion in the country. Day One Investments’ Shane Ninai tells Business Advantage PNG of his plans to encourage the use of the virtual currency, Bitcoin.
An increase in the number of protests, blockades, and inter-clan rivalry in Papua New Guinea poses ‘downside risks’ to Papua New Guinea’s economic growth recovery, according to a report by BMI Research, a subsidiary of the Fitch Ratings Agency. It warns it could lead to delays or cancellations of investment projects.
Government to spend K300 million buying into Star Mountain Plaza project, Bougainville President supports new-look BCL, and Trade Minister seeks ban on Fiji imports. Your weekly digest of the latest business news.
If the giant Panguna copper mine on Bougainville is ever to re-open, many complex problems must be solved, including the status of the former miner, Bougainville Copper Limited (BCL). In this exclusive interview with Business Advantage PNG, BCL Chairman Rob Burns outlines its strategy to return to mining.