Papua New Guinea’s economic growth and low debt has pleased international credit rating agency Moody’s, although local businesses and financial institutions will be largely unaffected by its latest rating.
News
Papua New Guinea has passed new laws increasing the penalties for white-collar crime, as it revived the death penalty for crimes such as aggravated rape, pack rape, or where the victim is a child under 10 years of age.
Indonesia and Papua New Guinea have ratified their double taxation treaty, in a sign of developing closer economic relations.
The PNG parliament’s decision to toughen sentences for serious crimes evokes widespread coverage
State utility PNG Power has been authorised to start negotiations with Hong Kong-based liquefied gas and power company, Energy World Corporation, to build a new 30MW-to-80MW diesel and gas-fuelled power plant in Port Moresby.
Bank of South Pacific has announced the resignation of company director John Jeffery.
Papua New Guinea’s much-anticipated second gas project could turn out to be an extension of its first, as ExxonMobil commences exclusive negotiations with InterOil and Pacific LNG.
Social media is increasingly influencing Papua New Guinea politicians; a warning that government revenues may fall amid a resources downturn; and more.
Japanese investment in Papua New Guinea’s gas resources has increased, with Japan’s second largest gas company buying a 40% stake in Australia’s Horizon Oil, which has an interest in several PNG petroleum leases.
Thoughts on why so many Australian ministers to visit PNG recently, closer trade ties with Indonesia loom, and Vanuatu’s new PM discusses changing the status quo.