A new Executive Officer at the Lae Chamber of Commerce and Industry and the South Pacific Tourism Organisation reappoints Deputy Chairperson
News
Papua New Guinea economy on the cusp of a mining boom, kina’s fair value ‘around US 23-25 cents’, and niche tourism could nearly triple tourism numbers in 10 years. Your weekly digest of the latest business news.
S&P Global Ratings has lowered its long-term foreign and local currency sovereign credit ratings on Papua New Guinea (PNG) to ‘B’ from ‘B+’, but it believes the outlook is ‘stable’. The agency points to bigger than expected fiscal deficits because of ‘a loss of revenue and reconstruction costs after a recent earthqu
Oil prices and silver are up: a monthly review of Papua New Guinea’s commodity and financial markets
Oil prices are rising and silver is also strengthening. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
Hausples.com.pg has released its Real Estate Survey 2018, which shows that the biggest challenge for the market is supply side factors such as land titles, infrastructure and private sector investment. But it says these issues ‘are slowly being addressed’ and that there is ‘unequivocal market demand for housing at various price points.
Paint company Akzo Nobel is taking a new strategic direction in Papua New Guinea, according to Chief Executive Officer, Navin Raju. He tells Business Advantage PNG that the prospects for growth are sound.
Production resumes at the LNG plant as more reserves found, BHP Billiton to be sued over alleged environmental damage, and talks with China over a free trade agreement. Your weekly digest of the latest business news.
Ni-Vanuatu to head up BSP operations in Port Vila, former Irish PM nominated to head the Bougainville Referendum Commission, new Chair of the 2019 Asia Pacific Business Forum
Eminent scientist Professor Tim Flannery will be one of the key speakers at this year’s Business Advantage Papua New Guinea Investment Conference at the Sofitel Brisbane Central on 6 and 7 August this year.
PNG was the second-largest global grower of vanilla last year, producing about 250 metric tonnes, but leading processor and exporter, Paradise Spices, is calling for regulation of the sector to resolve supply and quality issues. Karina Makori, the company’s General Manager tells Business Advantage PNG inflated prices have halted production of vanilla products for the past nine months.