Air Niugini CEO to retire, new Secretary of the Dept of Foreign Affairs and Trade, a new Partner at law firm, Corrs Chambers Westgarth
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New Port Moresby power plant to be online during early 2019, US equity firm bids A$13.5 billion for Santos, and PNG Post keen to diversify. Your weekly digest of the latest business news.
Stephen Howes, Professor of Economics at ANU’s Crawford School of Public Policy, explains why it is that Pacific economies, unlike other developing economies, are so expensive.
The Governor of the Bank of Papua New Guinea has called for a national plan to make the country self-sufficient in food production, with capacity for export. Loi Bakani outlined his proposal at last month’s National Planning Consultative Summit in Lae.
The ratings agency Moody’s has affirmed Papua New Guinea’s B2 rating, but downgraded it from ‘negative from stable’, citing higher government liquidity risks, increased gross borrowing requirements and limited funding sources. It points to a growing reliance on short-term debt.
The Papua New Guinea government has set up a new authority to oversee the restoration of services and infrastructure, following the February 26 earthquake. As humanitarian relief work continues, analysts expect GDP to fall slightly.
Prime Minister O’Neill working on loan to ease foreign exchange pressure, domestic market obligation for future LNG projects, and Western LNG project likely to be stand-alone. Your weekly digest of the latest business news.
New Executive voted in at Lae Chamber of Commerce, a new Director at Nautilus Minerals
Given that there is no investment currently, what is needed to get Australian institutional investors involved in Papua New Guinea? Stephen Nash, former Chief Investment Officer for Nambawan Super, examines one possible initiative: risk sharing.
LNG prices have shown continued weakness and the cocoa price has also dropped. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets.