Port Moresby’s newest hotel, the Stanley, opened in July in central Waigani. It is Papua New Guinea’s biggest hotel and one of the largest in the Southern Hemisphere. Grace Maribu takes a look.
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The greatest challenge facing Papua New Guinea’s financial system and businesses is to establish saving in the country’s mostly unbanked population. That is the message from three of the country’s top bankers.
With an estimated one million Papua New Guineans now connected to a mobile network, is it time for companies to add social media to their marketing strategy? Digital marketing manager Andreia Brodsky outlines what you need to know about this growing marketing channel.
Papua New Guinea’s top bankers discuss the kina, foreign exchange shortages, finance for business and the future of banking services.
The Papua New Guinea government has released its Supplementary Budget to adjust to ‘tough’ economic conditions. It assumes lower economic growth, a weaker exchange rate and higher inflation.
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.
Palm oil was the biggest mover in the month, while gold, coffee and oil prices remain strong. Gas prices, however, continue to be weak and in the currency markets, the kina continues its slide against the yen. Business Advantage PNG’s monthly overview of commodity and financial markets.
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.
The economic and financial stresses being experienced in the PNG economy are in part due to the narrowness of the industry base, according to a report by the Asian Development Bank. There is a compelling argument for industry diversification; Chey Scovell of the Manufacturers Council says the focus should be on creating stable employment.
The Papua New Guinea Government has passed the Cybercrime Bill, which applies to the use of electronic systems and devices, including: spam, hacking, forgery and computer fraud. Zinnia Dawidi, a lawyer specializing in IT & Telecommunications Law, outlines the implications for businesses and individuals.