The government announces the board of the new SME Corporation, a new General Manager at Link PNG, a new chief of staff for the PM, and two new board members at the PNG Chamber of Mines and Petroleum
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Sir Mekere Morauta calls for ‘genuine government effort’ to resolve K2 billion dispute, IFC approves credit facility and Manus business leaders want to be treated as a ‘special case’, if detention camps close. Your weekly digest of the latest business news.
France’s Total SA has confirmed its plans to commence construction for Papua LNG, the country’s next big liquefied natural gas project. Business Advantage PNG spoke with Philippe Blanchard, Managing Director of its PNG subsidiary, Total E&P PNG, to learn more about its race to start construction in 2018.
In an environment of plummeting interest rates, long term infrastructure investment is a sound option for both investors and governments. Financial and business commentator Michael Pascoe, speaking in Port Moresby last week, noted that the difficult global financial environment throws up opportunities for countries like Papua New Guinea.
The Bank of PNG has granted exemptions to some PNG insurance companies from the tight foreign exchange restrictions, to enable the general insurers to meet their reinsurance commitments to international reinsurers.
Moody’s downgrades Papua New Guinea ratings, National Broadband Network to be launched by year’s end, and warnings of a ‘crisis’ in the oil services industry. Your weekly digest of the latest business news.
Papua New Guinea’s first LNG project has transformed the country’s exporting landscape, with Japan overtaking Australia as its number one trading partner. China will also become a major source of funds, taking over from Australia and global lending agencies. But don’t expect the broader bilateral relationships to change quickly.
A new Director at Kina Securities, a new General Manager (HR) at BSP, the Group CEO of Credit Corp to retire and a new Country Manager at AirSwift
MiBank appoints a new Chairman, Papua New Guinean appointed to head up the Parties to Nauru Agreement, a new Country Manager for AirSwift
Total SA Chairman says company is planning to commence construction of LNG plant in 2018, Ramu NiCo ordered to stop operating nickel mine and Harmony Gold reports ‘continuing exploration success.’ Your weekly digest of the latest business news.