Papua New Guinea’s Prime Minister, Peter O’Neill, has confirmed the government will restructure the country’s interests in oil, gas and mining resources into two separate mining and petroleum companies. All other state-owned enterprises will be absorbed into a third holding company.
The Australia–Papua New Guinea Business Forum in Port Moresby next week will have a special focus on how to improve Papua New Guinea’s vast infrastructure needs.
Air Niugini has paid a divided of K7.6 million (US $3.5 million) to the government for the 2011 fiscal year, its second dividend since corporatisation in 1996.
The Governor of the Bank of Papua New Guinea, Loi M Bakani, has urged the Papua New Guinea Government to fund its projected large deficits over the next few years from the high levels of liquidity in the domestic banking system.
Samoa hosts conference, Marles interviewed, Air Samoa’s weighty publicity, Fiji’s constitution
In a move that will have an immediate impact on internet users in Papua New Guinea, Telikom PNG has cut the fees it charges wholesalers for its internet services by an average of 68%, effective this month.
Papua New Guinea’s gross domestic product is set to increase by 5.5% in 2013, according to the Asian Development Bank’s latest Pacific Economic Monitor, released last week. This is compared to growth of 9.2% in 2012.
IFC Vice President on Papua New Guinea
The four-year feasibility study on Solomon Islands’ Tina River hydro dam project on Guadalcanal Island is nearing completion and a final report will go to government in September this year.
Australia gets a new Parliamentary Secretary for the Pacific while ANZ loses its head of international banking.