Recent developments in the Papua New Guinea’s resources sector should boost confidence, according to international ratings agency Fitch Solutions. Its latest outlook on the country, however, warns of ‘policy uncertainty and ongoing risks to social stability’.
A couple of weeks ago, Business Advantage International hosted a small, high-level gathering of PNG-focused business leaders in Sydney, Australia.
The future of one of Papua New Guinea’s highest profile green energy projects, PNG Biomass, appears under a cloud following the move by state-owned utility PNG Power to potentially cancel the power purchase agreement it has with the project.
St Barbara has suspended operations of its Simberi project until it is safe to restart, Air Niugini relaxes COVID-19 restrictions for national flights, and global shortage of storage containers might impact Papua New Guinea’s trade. The business news in brief.
South Pacific Brewery elects a new Chairman, plus a new GM for Airways Residences.
Steamships partners with Emstret Holdings to help SMEs deliver its products, NDB still to loan out to SMEs, and K1 million for the honey sector. The business news in brief.
BSP Financial Group, the Pacific’s largest bank, finally listed on the Australian Securities Exchange yesterday. The move creates a new market for its existing shares and positions the bank to tap into new sources of capital in the future.
The Australia–Papua New Guinea Business Council is holding its 36th business forum and trade expo this week in Brisbane. Business Advantage PNG reports from the event, which is both a physical and online event this year.
BSP Financial Group Limited receives approval to list on the ASX; a new State Negotiating team to be reappointed to the P’nyang gas project, and Joint post-referendum talks between government and Bougainville fruitful. The business news in brief.
The annual Business Advantage/Westpac PNG 100 CEO Survey has captured the depth of the COVID-19 crisis and the sense of uncertainty that exists among businesses in Papua New Guinea. Westpac’s Senior Economist Justin Smirk takes a closer look.