The Bank of Papua New Guinea in its latest Monetary Policy Statement is predicting that the Papua New Guinea economy will not go into recession this year and there will be a strong recovery next year. But it says that the COVID-19 pandemic has badly affected many of the key sectors in the economy.
Nambawan Super elects a new Chairman, Westpac announces a Chief Executive, Specialist Business, Chairman of Kumul Telikom Holdings resigns, and CEO confirmed at Capital Insurance.
In spite of the International Air Transport Association reporting global losses for the airline industry up to US$314 billion (K1086 billion), Papua New Guinea’s carriers are keeping essential services going under the toughest business conditions.
A way out of the COVID-19 crisis, the new business reality when the pandemic is over and cocoa production in lockdown. Readings from around the world on business, leadership and management.
Porgera mine output is removed from Barrick’s full year guidance, Westpac announces new division for Westpac Pacific and Australia and New Zealand agree on a ‘trans-Tasman COVID-safe’ travel zone. The business news you need to kick-start your week.
The government’s COVID-19 bond was oversubscribed after the first week, according to Treasurer Ian Ling-Stuckey. He said over K1 billion was raised and that the money will help protect Papua New Guineans from the worst effects of the coronavirus pandemic.
Singapore sees retail landscape change, how work will look post pandemic and COVID-19 infects Chinese-US relations. Readings from around the world on business, leadership and management.
NASFUND welcomes two independent directors to its board, Newcrest gets a new Chief Legal, Risk and Compliance Officer, the Danish Ambassador announces the end of his tenure and ANZ appoints a new member to its Group Executive Committee.
Economists are forecasting a recession in PNG in 2020 as the country struggles to deal with the global crisis caused by the outbreak of the COVID-19 virus. The ratings agency Standard & Poor’s has also downgraded the country’s debt.
The decision by the Marape-Steven government not to extend the Special Mining Lease on the Porgera gold mine is headed for the courts after the National Court of Justice at Waigani ordered both parties to have discussions to resolve the matter.