The Papua New Guinea economy is on the edge of a ‘slippery slope’, if the Bank of PNG finances government debt and continues to fix the exchange rate at too high a rate. Former Australian Treasury advisor Paul Flanagan says compounding the problems are rising inflation, falling foreign exchange reserves, and declining private sector credit growth.
Cott Oil and Gas Ltd has undergone a restructure to allow the company to focus on developing what could be Papua New Guinea’s first floating liquefied natural gas (FLNG) project – at the Pandora gas field in the Gulf of Papua. Cott’s Managing Director Andrew Dimsey outlines the company’s plans to Business Advantage PNG.
Earlier this month,Westpac Bank declared the General Manager of Origin Energy PNG, Lesieli Taviri, as this year’s winner of the Westpac Outstanding Women Award in Papua New Guinea. Business Advantage PNG spoke to Taviri about her career and aspirations.
National carrier Air Niugini is aiming to deliver more choice for Papua New Guinean travellers through the establishment of Link PNG, a new low-cost domestic subsidiary.
Gough Whitlam, the Australian Prime Minister who gave Papua New Guinea its independence in 1975, died this week. The ABC’s long-serving Papua New Guinea correspondent, Sean Dorney, reflects on Whitlam’s historic relationship with PNG and the road to independence.
The O’Neill government is preparing to deliver its 2015 budget, against a backdrop of rising government debt and rising expenditure. Business Advantage PNG asks what business needs and what we might expect.
The Chairman of Papua New Guinea’s Independent Public Business Corporation (IPBC), Paul Nerau, has flagged a ‘tsunami’ of government-backed development projects worth billions of kina, including the relocation of Port Moresby’s port and gas-generated electricity.
The steady emergence of Papua New Guinea’s Barramundis national cricket side has led the sport’s managing body in the country to introduce professional player contracts—a major step in the development of the sport in PNG.
The board of Papua New Guinea’s biggest employer, New Britain Palm Oil, has recommended shareholders accept a K5.09 billion (UK 1.07 billion pound) takeover bid from Malaysia’s Syme Darby.
As part of the 2012 Alotau Accord, the O’Neill Government agreed to establish an Infrastructure Development Authority to ‘take ownership’ of Cabinet decisions and oversee major infrastructure projects in Papua New Guinea. Business Advantage PNG spoke recently to the authority’s interim Managing Director, John Kaio.