The latest business news from Papua New Guinea and the region
The long-awaited Pacer-Plus Pacific trade agreement is expected to be signed in early June, after the 14 Pacific countries concluded their talks in Brisbane last week. But Papua New Guinea and Fiji have said they will not participate. Business Advantage PNG asked World Trade Organisation negotiator, Edwini Kessie, what PNG is missing out on.
Bank South Pacific postpones its proposed listing on the ASX, Asian Development Bank Director predicts growth to rise in 2018, and K20 million to help fight coffee borer. Your weekly digest of the latest business news.
High debt and deficit levels are why the ratings agency S&P has kept its Papua New Guinea country rating at B+/B, with a negative outlook. S&P Director, Craig Michaels, tells Business Advantage PNG higher commodity prices are the key to lifting the rating.
Local Papua New Guinea businesses are expected to provide core services to ensure the success of the 2018 APEC summit in Port Moresby, says APEC Papua New Guinea Co-Ordination Authority CEO, Christopher Hawkins.
Founding Prime Minister retires, new US Embassy to be built, NRI questions land allocation for petroleum park. Your weekly digest of the latest business news.
IT analysts and industry insiders tell Business Advantage PNG that the Papua New Guinea Government’s decision to merge bmobile and PNG DataCo under a Telikom PNG renamed Kumul Telikom is likely to increase competition and innovation. But the move will not be without challenges.
The operator of the second Papua New Guinea LNG project says overcoming technical and environmental issues will determine if Total joins the existing PNG LNG trains. Managing Director, Philippe Blanchard, says a decision will be made within the next 5-6 months.
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.
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.