News

Results of Papua New Guinea’s major companies show some struggling more than others

Recently released results of some of Papua New Guinea's major companies indicate that the economic downturn in 2015 put significant pressure on earnings. However, while energy companies suffered most, PNG's finance sector proved resilient.
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Existing SMEs on new Reserve List of Papua New Guinea businesses will be bought out at current market value, says Minister

Trade, Commerce and Industry Minister Richard Maru says he is compiling a reserve list of businesses that may only be owned and operated by PNG nationals. While Maru has given no timeline for the reintroduction of the Reserve List, he says existing businesses will be bought out at the current value.
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In brief: LNG overtakes gold as top export and other Papua New Guinea news

LNG overtakes gold as PNG's top export, number of female executive appointments in PNG public service low and Bank of South Pacific reports profit rise. Your weekly digest of the latest business news.
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In brief: Ok Tedi mine reopens and other Papua New Guinea business stories

Ok Tedi mine reopens after drought causes suspension, Kumul Petroleum renegotiates UBS loan for Oil Search shares and Steamships announces 11% profit increase. Your weekly digest of the latest business news.
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SME policy launch reflects growing realisation that Papua New Guinea cannot rely solely on the resources sector

The launch of the country’s first master plan to develop the Small and Medium Sized Enterprise (SME) sector reflects a growing acknowledgment by Cabinet ministers that they need to grow sectors other than mining.
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Chinese business delegation in Papua New Guinea to examine investment opportunities

Thirty-six executives from major Chinese energy, forestry, fisheries, tourism and construction businesses are in PNG this week to look for investment and development opportunities. Pacific Trade Commissioner David Morris is leading the delegation. This week’s trip to PNG reflects ‘very strong’ Chinese interest in supporting infrastructure development and in PNG’s capacity to supply China with goods […]
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