Banks trading ‘well and above’ preferred kina rate, minister wants business contracts under K10 million to be reserved for Papua New Guineans, and Bakani says reserves will last seven months. Your weekly digest of the latest business news.
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InterOil Corporation has finalised a US$300 million loan, which it will use to explore the Eastern Papua Basin of Papua New Guinea.
Prime Minister Peter O’Neill refuses to step aside after corruption claims, courts approve UBS loan repayments and Papua New Guinea’s financial system is worth nearly K40 billion. Your weekly digest of the latest business news.
The Managing Director of St Barbara steps down and a new Attorney-General.
While Papua New Guinea-related businesses are divided on the impact of a stronger kina, all agree it will have some effect on their business, according to Business Advantage PNG’s poll.
The Bank of Papua New Guinea’s move to strengthen the value of the Papua New Guinea kina against the US dollar has taken business by surprise, with some business leaders saying it will impact on primary industry producers.
Moody’s warns debt could prompt downgrade, tax review committee considers capital gains tax and an EU warning to curb illegal fishing in PNG. Your weekly digest of the latest business news.
Developing Papua New Guinea’s national infrastructure will be a key focus of the major business event taking place in Papua New Guinea this year: the 2014 Papua New Advantage Investment and Infrastructure Summit.
Last week, the Papua New Guinea’s central bank acted to raise the value of the nation’s currency against the US dollar by around 20%. What affect will that have on your business? Tell us in this special poll.
The Bank of Papua New Guinea this week made a surprising move to support a weakening currency, at the same time acting to restrict the margins being made by the country’s foreign exchange dealers.