Market reaction to the proposed move to make New Britain Palm Oil Limited (NBPOL) a subsidiary of Malaysian company Kulim (Malaysia) Berhad has been generally positive, although one observer questions why PNG-based investors aren’t taking advantage of the fall in NBPOL’s share price.
Nestled in PNG’s Kimbe Bay in West New Britain, Walindi Plantation Resort is a gem for divers eager to encounter some of the most beautiful, unspoiled coral reefs in the world. Sonja Heydeman learns more, as part of our ongoing tour of some of PNG’s leading tourist locations.
The newly-appointed head of the Bougainville landowners group is cautiously optimistic that work to re-open the giant Panguna copper and gold mine could begin within two years.
Cloudy Bay Sustainable Forestry Ltd has achieved another milestone in its drive for sustainable development with the certification by the Forest Stewardship Council (FSC) for responsible forestry management.
Papua New Guinea’s currency, the kina, has lost around eight percent of its value against the US dollar over the past 12 months. What does this mean for business?
Just over one third of Papua New Guinea’s logging exports in 2012 came from Special Agricultural and Business Leases, the majority of which may not have received approval from customary landowners, according to analysis by Paul Barker, Director of the Institute of National Affairs.
A curious thing has been happening in the Pacific. Instead of running trade and investment road-shows in Australia, New Zealand or China, two Pacific Island countries have been courting investment from each other, observes Jenny Hayward-Jones.
In what is believed to be a first for Papua New Guinea, Lihir Island landowners will have access to a new lending scheme to finance their small businesses and help foster economic development on the island.
The Australia/New Zealand representative for PNG’s Tourism Promotion Authority predicts strong growth in domestic tourism, anticipating a drop in travel costs and increased marketing of PNG’s natural scenic spots. Sonja Heydemann reports.
Lae is set to become the South Pacific’s main fish processing centre, with the opening of one massive new cannery this week, the commencement of construction for another, with more on the drawing board.