News

In brief: Share restructuring and recapitalisation at Airlines PNG, and other business stories

Share buyback and recapitalisation at Airlines PNG, lucrative tuna deal signed with United States, and Digicel in talks over buying shares in EMTV. Your weekly digest of the latest business news.
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In brief: Power workers delay strike action for a week, and other business stories

Power workers give management another week to respond to pay claims, the People's Micro Bank to get a full banking licence, Sime Darby withdraws from takeover talks with NBPOL. Your weekly digest of the latest business news.
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Yields expected to double as cocoa industry recovers from cocoa pod borer devastation

Papua New Guinea’s largest cocoa grower, trader and exporter, Agmark, says cocoa yields in East New Britain could double, as a result of new technology arising from the battle to recover from the impact of the cocoa pod borer.
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Companies struggle to pay bills, after the Bank of Papua New Guinea ‘rations’ kina

Restricting the margins at which the kina can be traded against the US dollar has had little positive effect, with some companies struggling to pay bills, as the central bank reportedly restricts the purchase of US currency, Manufacturers Council of Papua New Guinea CEO Chey Scovell tells Business Advantage PNG.
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Papua New Guinea road investment to total K7 billion over the next five years, but maintenance ‘the challenge’

Scheduled road projects in Papua New Guinea will cost around K7 billion over the next five years, according to David Wereh, Secretary of the Department of Works and Implementation, with almost K2.6 billion of works currently under way. But PNG's poorly-maintained existing roads represent a 'time bomb' for the country.
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Central bank governor defends pegging of kina, and other business stories

Central bank governor says economic stability dependent on kina pegging, Panguna landowners support re-opening of gold and copper mine, and 2015 Budget may be a deficit budget with 'no significant strategic changes'. Your weekly digest of the latest business news.
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High interest rates a hurdle for investors, says Nambawan Super, and other business stories

Call for government to lower interest rates, inflation rises and Air Niugini reduces fuel surcharge. Your weekly digest of the latest business news.
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