Banking and finance

‘SMEs are hurting’: ANZ’s Mark Baker on the bank’s post-COVID challenges in Papua New Guinea

Renegotiating terms or refinancing are proving to be the best way to deal with the shock caused by COVID-19 according to Mark Baker, Managing Director of ANZ Bank Papua New Guinea. In an exclusive interview he tells Business Advantage PNG that improving confidence is the big challenge.
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Foreign investment in Papua New Guinea falls as Minister flags new laws

Foreign direct investment into Papua New Guinea dropped in the first quarter of 2020, according to Investment Promotion Authority figures. Meanwhile, business expresses concern over proposed changes to PNG's investment laws.
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Trade slump: how border closures affect Papua New Guinea’s exports

Papua New Guinea’s trade is likely to be sharply affected by the COVID-19 crisis and the closure of international borders, according to a report by the National Research Institute. It makes suggestions about how PNG’s traded sector can be supported.
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‘Crisis breeds innovation’: Tapioca Delight launches new online payment system

Tapioca Delight is spearheading change in Papua New Guinea, by becoming the first SME to start accepting online credit and debit card payments via Bank South Pacific's internet payment gateway. Gabriella Munoz speaks with owner Ginia Sialis to find out more.
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Headed for recession: bank and rating agencies’ bleak forecast for Papua New Guinea in 2020

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.
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