The 2016 Budget was one of emergency for PNG. Adjusting to a 20% collapse in revenue caused by plummeting commodity prices and an economic slow-down, the government has implemented harsh expenditure cuts.The Lowy Institute’s Jonathan Pryke examines the budgetary impact of holding the APEC summit in Port Moresby in 2018.
Claims by the international media, and one outlet in particular, about the conditions and communities along the Kokoda Track have threatened the reputation of the tourism and trekking industry in PNG, writes Genevieve Nelson, the CEO of the Kokoda Track Foundation.
As Papua New Guinea business gets back to work for a new year, Business Advantage PNG looks ahead to consider what 2016 may bring.
There is some relief ahead for businesses struggling to access foreign exchange, according to the CEO of the country’s biggest bank, BSP. Robin Fleming says investment in the mining and petroleum sector and a new Sovereign Bond are the keys to boosting foreign exchange inflows.
Papua New Guinea will find itself in a tight fiscal situation in 2016, according to the latest analysis by the Asian Development Bank’s economists. While more efficient public spending could yield large savings, they suggest more may need to be done to arrest the downward pressure on the currency.
The level of domestic in Papua New Guinea is ‘’simply unacceptable, it is a shame on our communities and it is a shame on our nation’, according to Prime Minister, Peter O’Neill. In a speech marking White Ribbon Day, Peter O’Neill called on leaders in business, communities, and the professions to take a lead in eliminating domestic violence. The following is an edited extract of his speech.
A company’s Human Resources division can play a critical role in a firm’s strategic planning. Its knowledge of a workforce’s skills and its role in establishing a company’s values and culture can make a major contribution to a company’s bottom line, says Dean Kuri of Lae’s Bonn HR Consulting.
The Papua New Guinea Government has made tough decisions in its 2016 Budget to avoid a cash and macroeconomic crisis. Business Advantage PNG talks to some experts on how the budget measured up to expectations, and what is still needed.
Following on from the Governor of the Bank of Papua New Guinea’s recent comments about the need to develop Papua New Guinea’s tourism industry, Melanesian Tourism Services’ Managing Director Sir Peter Barter argues for urgent cooperation between government and industry.
Native advertising has come of age. That was the message from Native Advertising seminar at the 2015 World Publishing Expo in Hamburg.