A rising middle-class in Papua New Guinea is seeing the emergence of a wider variety of food and beverage businesses, particularly in Port Moresby. It also reflects, say food specialists, an increasing demand for high quality food products in PNG.
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The developing retail environment in Papua New Guinea will soon include expanded duty-free shopping at the refurbished Jacksons International Airport.
The fall in global oil and gas prices will reduce the Papua New Guinea government’s revenue by at least K1.1 billion in 2016. A new Budget strategy is needed, argue economists Stephen Howe and Paul Flanagan, who suggest a solution may lie in the government selling its Oil Search shares.
A new director for Airlines PNG and a new country manager appointed by DHL
The next 12 months or so is a time to digest and consolidate, says Peter Langslow, the incoming head of one of Papua New Guinea’s largest and oldest companies, Steamships Trading Company. He told Business Advantage PNG, however, it is also a time to prepare for fresh opportunities.
National Petroleum Company to appoint a specialist debt-raising adviser for new oil and gas projects, Treasury says public debt above 35% limit and anti-corruption hotline more successful than expected. Your weekly digest of the latest business news.
Liquidity conditions have emerged as a major source of risk for the PNG economy, as the central bank governor reveals he spent US$570.9 million (K1.48 billion) to support the kina last year.
The number of foreign workers coming to Papua New Guinea is growing, with an annual net gain of up to 34,000 since 2007. Carmen Voigt-Graf reports that on recent growth rates, The Philippines will soon overtake Australia as the main source of foreign workers.
Motukea Island a ‘suitable site’ for Port relocation, majority of Papua New Guinea SMEs in retail, and PNG first Pacific nation to join alliance. Your weekly digest of the latest business news.
New MD at Crater Gold, Acting General Manager at Port Moresby Stock Exchange, new senior appointments at Puma