The Bank of Papua New Guinea has released its Quarterly Economic Bulletin for the March and June 2020 Quarters. It shows that the economy and government finances came under great pressure because of the COVID-19 lockdowns, but that the impact was uneven.
Kina Bank’s Chief Executive and Managing Director Greg Pawson is expecting to start the SME Capital Fund this year, which will offer PNG businesses a new way of raising money. He tells Business Advantage PNG it should help business expand.
K92 Mining sets example in the mining industry in Papua New Guinea, Australia commits funds to help PNG get COVID-19 vaccinations and latest survey on COVID-19’s impact on the business community.
A joint communique issued earlier this month by Papua New Guinea’s Prime Minister James Marape and new Bougainville President Ishmael Toroama has committed them to moderated ‘joint consultations’ over the autonomous region’s desired independence. It has again brought focus on the future of the island’s massive Panguna copper and gold mine.
ExxonMobil announces executive changes, the National Development Bank names a new Chief Financial Officer, New Britain Palm Oil appoints new boss, Lae gets a new Consul-General, Pacific Community welcomes a Deputy Director-General Operations and Integration, Capital Insurance Group names Chief Operating Officer, new head for Papua New Guinea Cocoa Board and announcement at Kumul Telikom Holdings.
Mining Minister is optimistic about Wafi-Golpu mining project, Police Commissioner must vacate office before the end of the month and Australia’s Seasonal Worker Program is back.
Peter Aitsi, Group Chief Executive Officer of Credit Corporation PNG, says the COVID-19 pandemic has had a significant impact on operations. He tells Business Advantage PNG that the company is moving to a more agile digital platform and diversifying its product range.
COVID-19 tests now mandatory for incoming flights to Australia, Digicel’s Pacific operations could be up for sale and K92 organises a visit to the Kainantu mine.
A new World Bank report on the economic and employment impact of COVID-19 on Pacific Island Countries has shown that the harm to Papua New Guinea’s economy, labour market and education has been extensive.
New Chair for Kumul Consolidated Holdings, Commonwealth Secretariat welcomes a new Chair.