News

In brief: Oil Search and ExxonMobil buy gas licences in Gulf, and other Papua New Guinea business stories

Oil Search and ExxonMobil buy into gas licences in Gulf of Papua, Sir Mick Curtain, founder of Curtain Bros, dies, and trade disagreement with Fiji resolved. Your weekly digest of the latest business news.
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Demand for affordable housing sees price rises, according to Papua New Guinea property survey

Demand for residential houses among the growing urban population, especially in Port Moresby, has increased but the supply of quality and affordable houses has seen prices rise ‘exhorbitantly’, according to a new survey of the housing market by consultancy Niugini Land and Property.
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In brief: Maru wants Papua New Guinea-Fiji trade dispute resolved by October, and other business stories

Trade Minister Richard Maru wants trade issues with Fiji resolved this month, UBS buys into Kina Securities, and ANZ offers debit cards in PNG.
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Rice policy may end our rice production in Papua New Guinea, says Trukai CEO

The effect of the government’s proposed rice policy will basically ‘shut us down’, says Greg Worthington-Eyre, CEO of the country’s main rice importer and producer, Trukai Industries. His warning follows a prediction of price rises by the Independent Consumer and Competition Commission, and a warning by the Australian government the policy could breach WTO rules.
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