The advent of electronic banking in Papua New Guinea has the potential to significantly modernise and expand the country’s financial system Greg Pawson, General Manager of Westpac Pacific tells Business Advantage PNG.
Sections
Now a Chief Financial Officer based in the UK, Aarish Shah occupied senior executive roles in Papua New Guinea for nearly a decade. Here he reflects on the lessons he learned from running businesses in PNG—lessons that he believes are ‘poignantly transferable to life and business anywhere.’
In the second of a two-part series, Steamships Managing Director Peter Langslow tells Business Advantage PNG that his diversified company is looking to upgrade its manufacturing activities, upgrade more hotels and is planning more property development in Papua New Guinea.
The difficulty in getting foreign exchange is making goods made in Papua New Guinea more attractive, local manufacturers tell ‘Business Advantage Boardroom’, which aired last night on national broadcaster, EMTV. But a lack of protection against cheap overseas competition remains a problem.
The big mover this month was palm oil, which was up 20.5 per cent for the month according to Kina Securities. Oil prices have continued to hold up but LNG prices have eased. Business Advantage PNG’s monthly overview of commodity and financial markets.
Despite 2016 being ‘a relatively quiet time’, Steamships Managing Director Peter Langslow, in the first of a two part series, says his diversified company is becoming more efficient and continuing to invest in its operations in PNG in preparation for the next upturn.
‘Six month farmers’ are a big problem in Papua New Guinea’s coffee industry Tom Kukhang, the Coffee Industry Corporation’s (CIC’s) Chief Scientist tells Business Advantage PNG. But there is a solution.
InterOil shareholders have overwhelmingly approved a revised takeover bid from ExxonMobil, despite opposition from InterOil founder, Phil Mulacek.
Papua New Guinea’s forestry faces fierce competition and pricing challenges, Chief Executive of the Forest Industries Association, Bob Tate, tells Business Advantage PNG. He says developments in China are troubling for the sector.
The Chief Executive of Papua New Guinea’s Ok Tedi mine, Peter Graham, tells Business Advantage PNG that the company is now in the top quartile of global copper producers. He says revised company estimates indicate the mine—for many years one of PNG’s major sources of foreign exchange—should have a longer life.