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In brief: Trade Minister says Papua New Guinea will break global trade laws with proposed rice plan, and other business stories

31 Aug 2016 by Leave a Comment
Trade Minister Maru says he will recommend the government abandon its proposed rice policy, Bougainville landowners want government to hold its BCL shares, and Fiji says there are no bans on PNG imports. Your weekly digest of the latest business news.
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Top bankers set the record straight on Papua New Guinea’s foreign exchange shortage

31 Aug 2016 by 2 Comments
Papua New Guinea’s top two bankers, Loi Bakani, Governor of the Bank of Papua New Guinea and Robin Fleming, Chief Executive of Bank South Pacific, have asserted that the kina is not ‘controlled’. The shortage of foreign exchange is rather due to supply demand imbalances—but there is light at the end of the tunnel.
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Oil up, gas down and palm oil surging: a monthly review of commodity prices and financial markets

24 Aug 2016 by Leave a Comment
Palm oil was the biggest mover in the month, while gold, coffee and oil prices remain strong. Gas prices, however, continue to be weak and in the currency markets, the kina continues its slide against the yen. Business Advantage PNG’s monthly overview of commodity and financial markets.
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What is stopping Papua New Guinea’s Panguna mine from re-opening?

24 Aug 2016 by Leave a Comment
The government of Bougainville wants to put the operation of the giant Panguna copper mine out to international tender as soon as possible, President John Momis tells Business Advantage PNG. But key considerations, including the exploration licence, the equity structure, landowner rights and dividends and the rehabilitation of the mine must be decided first.
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In brief: BSP in joint venture with Kumul to expand insurance subsidiary, and other business stories

24 Aug 2016 by Leave a Comment
A new insurance joint venture, an ultimatum on corned beef trade ban, plans to limit rice imports. Your weekly digest of the latest business news.
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Papua New Guinea’s broadband network ‘on track’, but there will be challenges, says analyst

17 Aug 2016 by 1 Comment
The rollout of PNG's National Transmission Network is on track for completion later this year. It will transform the nation's digital highway, but that does not mean there will not be challenges, telecommunications analyst Henry Lancaster tells Business Advantage PNG.
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In brief: Papua New Guinea government ‘committed’ to resolving royalty dispute at PNG LNG site, and other business stories

17 Aug 2016 by Leave a Comment
Blockade of PNG LNG site now its second week, Trade Minister threatens Fiji over refusal to import PNG products, and fears of job losses if rice import quotas introduced. Your weekly digest of the latest business news.
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