The security market in Papua New Guinea is one of the country’s largest industries. Brian Kelly, Chief Executive of Black Swan International tells Business Advantage International that to manage staff effectively there needs to be some special management approaches.
Reinvesting earnings and paying attention to the core customers has enabled engineering and industrial suppler Bishops to ride out the peaks and troughs of the Papua New Guinea economy. General Manager Len Pianta explains to Business Advantage PNG how the company has taken a long term view.
Perseverance and execution are the keys to being a successful businessperson, according to Panu Kasar, one of the 12 finalists in the Kumul Gamechangers Competition, which is designed to ‘bring to life’ ideas from the private sector. He explains his ideas to Business Advantage PNG.
The downturn in the Papua New Guinea economy has put pressure on the shipping sector. But Jamie Sharp, Chief Executive of coastal shipping company Bismark Maritime tells Business Advantage International that the market is flattening out.
Ongoing uncertainty in the resources sector has led Nautilus Minerals to seek refinancing to secure the delivery of its Solwara 1 mining project, located in Papua New Guinea’s Bismarck Sea. President and CEO Michael Johnston tells Business Advantage PNG there will be a delay in the delivery of the project.
The recruitment market in Papua New Guinea has been affected by the economic downturn. Business Advantage PNG asks Calum Smith, Vice President of Australasia for international workforce solutions provider Airswift how the market is changing.
The government of Bougainville wants to put the operation of the giant Panguna copper mine out to international tender as soon as possible, President John Momis tells Business Advantage PNG. But key considerations, including the exploration licence, the equity structure, landowner rights and dividends and the rehabilitation of the mine must be decided first.
St Barbara recently announced that gold production from its Simberi mine in New Ireland rose by 39 per cent in the year to June: exceeding ‘the upper end of guidance.’ Managing Director Bob Vassie tells Business Advantage PNG that the company is looking to explore more in Papua New Guinea.
ExxonMobil PNG may have trumped Oil Search’s bid for InterOil Corporation, but Papua New Guinea’s largest company will still benefit from the US major’s US$2.3 billion bid, according to Oil Search’s Managing Director Peter Botten. He tells Business Advantage PNG that the bid by ExxonMobil delivers most of the benefits of Oil Search’s take over offer and pushes the ‘cooperation agenda’.
The Papua New Guinea authorities should allow the currency to fall to its market level to make foreign bond raisings less risky says economist Rohan Fox. He tells Business Advantage PNG that domestic banks are reaching the limits of their capacity to take on government debt, which is increasing the pressure to raise capital internationally.