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In brief: Sir Michael Somare retires after 49 years in politics, and other business stories

11 Apr 2017 by Leave a Comment
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. Papua New Guinea’s longest serving MP and first Prime Minister, Grand Chief Sir Michael Somare, has bowed out of politics after 49 years. The former Prime Minister said at an NBC Press Club interview […]
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Merger of Telikom PNG, PNG DataCo and bmobile may lead to lower costs, say analysts

11 Apr 2017 by 1 Comment
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.
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Total close to decision on cooperation with PNG LNG plant, says MD Blanchard

11 Apr 2017 by 1 Comment
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.
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In brief: Chinese companies win bid to build Ramu 2 power project, and other business stories

5 Apr 2017 by Leave a Comment
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.
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Trade strong but foreign exchange and budgetary pressures likely to continue, says Bank of Papua New Guinea

5 Apr 2017 by Leave a Comment
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.
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Lower prices the ‘bottom line’ with Kumul Telikom reforms, says Chairman

4 Apr 2017 by 1 Comment
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.
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Trukai to expand its Papua New Guinea rice production despite uncertainty, says CEO Worthington-Eyre

4 Apr 2017 by 4 Comments
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.
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Yamaha’s Papua New Guinea boat manufacturing setting new standards, says Ela Motors CEO

29 Mar 2017 by 36 Comments
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.
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Cocoa surges but oil and gas prices remain weak: a monthly review of Papua New Guinea commodity and financial markets

29 Mar 2017 by Leave a Comment
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.
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Young Bitcoin entrepreneur brings Silicon Valley to Papua New Guinea

24 Mar 2017 by 152 Comments
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.
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