Papua New Guinea has been dealing with a ’triple crisis’, according to Ilyas Sarsenov, Country Economist for the World Bank in PNG. Speaking at a Business Advantage PNG online briefing, he said that the economy has fallen well below previous growth forecasts.
New director joins Oil Search board.
The Acting Chairman of the Securities Commission Alex Tongayu has issued an order that a new levy will be applied to all transactions on the PNGX, Papua New Guinea’s stock market. It has raised concerns that it will impede the growth of the country’s capital markets.
St Barbara Ltd welcomes a new General Manager and UNICEF appoints a new representative for its Children’s Emergency Fund in Papua New Guinea.
Newcrest Mining says it can ‘unlock significant value’ at Lihir, Papua New Guinea’s biggest gold mine. David James takes a closer look at a mine forecast to produce over a million ounces a year.
A surge of COVID-19 cases in Papua New Guinea, Oil Search posts major loss and NEC endorses the National Energy Authority Bill 2020. The midweek business news, curated for you by Business Advantage PNG.
Papua New Guinea is experiencing similar stresses to other economies in the Pacific region due to the impact of COVID-19. Two reports, by the Asian Development Bank and Pacific Trade Invest, highlight both the impacts and a way to recovery.
A submission to Cabinet is being prepared to clean up the Sinivit mine, 6-Mile market to open next month and Ela Beach opens its Beachside Precinct.
With its domestic services in Papua New Guinea close to pre-COVID levels, national carrier Air Niugini is now looking to increase its international services, as it continues to provide an international economic lifeline for the country.
Coca-Cola Amatil announces executive changes and the National Procurement Commission welcomes a Provincial Procurement Committee.