Loi Bakani says managing a depreciating kina is ‘very difficult’, Canadian court to hear appeal against InterOil buyout, and Coffee Industry Corp steps up rehabilitation program. Your weekly digest of the latest business news.
Latest news
The latest business news from Papua New Guinea and the region
Gas prices have surged over the last month, returning to the price level of a year ago. Oil prices are also up strongly over the month. Coffee prices have moved sideways, while cocoa prices have fallen and palm oil prices are slightly down. Business Advantage PNG’s monthly overview of Papua New Guinea’s commodities and financial markets.
While market conditions continue to challenge junior mining companies working in Papua New Guinea, some small mining companies such as Gold Mountain and Frontier Resources are experiencing encouraging results from their exploration programs in the country.
While a consultancy’s report has shown that internet costs in Papua New Guinea are amongst the highest in the world, prices are falling. Encouragingly, an agreement announced this week could see internet costs fall even further.
The downturn in the Papua New Guinea economy has put pressure on the shipping sector. But Jamie Sharp, Chief Executive of coastal shipping company Bismark Maritime tells Business Advantage International that the market is flattening out.
Loi Bakani, Governor of the Bank of Papua New Guinea has presented his Economic Outlook. It contains a few surprises.
The holding company for Papua New Guinea’s state-owned enterprises, Kumul Consolidated Holdings, is making its first foray into agriculture, establishing a joint venture in East Sepik Province with Israel’s L R Group.
Eighty per cent of Interoil shareholders approve of ExxonMobil’s takeover bid, PNG economy to grow by two-to-three per cent, and plans for a new shipyard in Madang. Your weekly digest of the latest business news.
Oil prices remain strong, but gas prices continue to move sideways. Silver continues to surge and gold prices are strong over the year. Business Advantage PNG’s monthly overview of commodity and financial markets.
The late Sir Mick Curtain should be remembered for many of the infrastructure projects in Papua New Guinea that were undertaken over the last 50 years, according to Prime Minister, Peter O’Neill.