New Non-executive Directors join the Teachers Savings and Loans Society (TISA) Community Finance Ltd.
News
International credit rating agency Moody’s has changed its outlook on the Government of Papua New Guinea’s B2 rating from ‘stable’ to ‘negative’. What’s behind the move and what does it mean?
The anticipated signing of a gas agreement for Pasca A, Papua New Guinea’s first undersea gas project, has stalled at the eleventh hour. Developer Twinza Oil says it will stand down its project team due to a last-minute State request it claims would render the project ‘unfinanceable’.
Papua New Guinea’s Tourism Promotion Authority reveals bleak outcome for 2020, Kumul Petroleum Holdings gets three petroleum retention licenses and new equity holders for PNG LNG. The business news in brief.
Port operator International Container Terminals Services is looking to improve efficiency at Papua New Guinea’s ports, and opening the way for new business opportunities.
Palm oil sector issues warning on fertiliser tax, the Ihu Special Economic Zone is launched, and SME loans total K20 million. Your midweek news in brief.
The positive news that the Marape government and Barrick Gold have reach a ‘binding framework agreement’ for the reopening of the Porgera gold mine is being welcomed with relief by almost all concerned.
BSP CEO says second COVID wave will impact PNG’s economic recovery, disappointing formal employment figures and Facebook acts on vaccine misinformation. Your business news in brief.
The Porgera gold mine in Enga Prince looks set to reopen later this year after the Papua New Guinea Government and mine operator Barrick Gold reached a ‘binding framework agreement’ to share future benefits from the mine and boost local ownership.
The Governor of Bank of Papua New Guinea has forecast a recovery for the country’s economy of 2.5 per cent after the sharp contraction of 2020. But he says the national budget and PNG’s foreign exchange reserves will remain under pressure.