Oil and LNG prices are showing strength but cocoa and palm oil prices price have weakened. Business Advantage PNG’s monthly review of Papua New Guinea’s commodity and financial markets.
News
The Asian Development Bank will start redeveloping the entire Highlands Highway simultaneously rather than doing it in sections, according to David Hill, Country Director for the ADB. He outlined the ADB’s focus on improving both physical and digital connectivity in Papua New Guinea.
Financial analysts Fitch Solutions is forecasting higher economic growth for Papua New Guinea next year. But it says the kina is overvalued, which may pose problems in the future if the the Government’s proposed sovereign bond issue is successful.
Departure at ICTSI South Pacific, Eastern Highlands appointment
Kina Asset Management’s half-year net profit, Range View precinct under way, and a local tech company trials its own messaging app. Your weekly digest of the latest business news.
Port Moresby-based retailer/wholesaler Supreme Group found itself needing products and services it couldn’t source in Papua New Guinea, so it decided to create them. Group Managing Director Sanjay Shah, tells Business Advantage PNG that the group has grown quickly and is anticipating more diversification.
To get investment into Papua New Guinea businesses, sound governance is essential. That was the view expressed by super fund managers, bankers and advisers at Business Advantage’s Investment conference in Brisbane.
Air Niugini launches new direct route, Total wins contract for Lihir Gold Mine, and a new state-owned-enterprise is formed. Your weekly digest of the latest business news.
A new Chairman for Solar Solutions, and a new board for KAL
The Papua New Guinea government has begun spruiking its sovereign bond issue with a series of meetings with investors in Singapore, Hong Kong, London and the US, led by Treasurer Charles Abel. However, while Standard and Poor’s has given the issue a ‘B’ stable rating, others say the government may have to offer a premium to attract investors.