News

In brief: Finance Minister Marape says economy ‘doing well’ and other business stories

Finance minister Marape says PNG economy 'doing well', European Investment Bank invests in PNG for first time in 21 years and Memorandum of Agreements to be presented for seven copper and gold mines. Your weekly digest of the latest business news.
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In brief: Bank of PNG pursuing foreign exchange options and other business stories

Bank of Papua New Guinea negotiating with 'partners' about foreign exchange, Oil Search to address competition issues and Travel Air to resume operations. Your weekly digest of the latest business news.
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Moody’s bullish on longer term future of Papua New Guinea economy

Moody’s recently downgraded its sovereign rating on Papua New Guinea to B2 from B1. But Christian de Guzman, a Senior Analyst in the Sovereign Risk Group for Moody’s Singapore tells Business Advantage PNG that the agency is ‘quite confident’ about the overall economy’s prospects over the medium-term.
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In brief: PM assures students 2016 Papua New Guinea Budget will be implemented, and other business news

O'Neill assures students 2016 Budget will be implemented, Singapore's Jaya Holdings buys Moni Plus for K518million and Bougainville aims for mid-2019 independence vote. Your weekly digest of the latest business news.
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Oil Search’s InterOil acquisition to consolidate company as regional player in oil and gas

Oil Search, Papua New Guinea’s biggest company and largest non-government employer, looks set to consolidate its position as a major player in the Asia Pacific oil and gas market with its $US2.2 billion purchase of InterOil. Chief Executive of Oil Search, Peter Botten, says it will allow the company to be ‘hugely influential in the further development of our world class PNG LNG and Papua LNG assets.’
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