The Bank of Papua New Guinea has released its Quarterly Economic Bulletin for the March and June 2020 Quarters. It shows that the economy and government finances came under great pressure because of the COVID-19 lockdowns, but that the impact was uneven.
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COVID silver linings: Bank of Papua New Guinea releases economic bulletin and not all is bad news
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1 Feb 2021 by Leave a Comment
People moves: ExxonMobil, NDB, NBPOL, Twinza, Minister for Foreign Affairs, Pacific Community, Capital Insurance Group, Papua New Guinea Cocoa Board, Kumul Telikom Holdings
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27 Jan 2021 by Leave a Comment
ExxonMobil announces executive changes, the National Development Bank names a new Chief Financial Officer, New Britain Palm Oil appoints new boss, Lae gets a new Consul-General, Pacific Community welcomes a Deputy Director-General Operations and Integration, Capital Insurance Group names Chief Operating Officer, new head for Papua New Guinea Cocoa Board and announcement at Kumul Telikom Holdings.
COVID-19 hit to Papua New Guinea’s economy is giving rise to ‘new poor’, says World Bank
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20 Jan 2021 by 2 Comments
A new World Bank report on the economic and employment impact of COVID-19 on Pacific Island Countries has shown that the harm to Papua New Guinea’s economy, labour market and education has been extensive.
What’s on the agenda for Papua New Guinea business in 2021?
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18 Jan 2021 by 4 Comments
With the Marape government surviving a challenge late last year and vaccines for the COVID-19 virus starting to emerge, Business Advantage PNG considers what business in Papua New Guinea can expect from the year ahead.
2020: the year in review for Papua New Guinea business
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9 Dec 2020 by 1 Comment
COVID-19, Porgera and politics may have monopolised the attention of the media, but 2020 brought many other challenges, unexpected changes and triumphs for business. Here’s how Business Advantage PNG reported on this extraordinary year.
Budget paper: Papua New Guinea’s revenue problem means it must raise more debt
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16 Nov 2020 by Leave a Comment
The suspension of Parliament means that Papua New Guinea’s 2021 National Budget will be delayed until at least next month and possibly longer. Whenever it is finally delivered – and whoever delivers it – the recently released Budget Strategy Paper clearly outlines the challenges it must address.
Blame it on oil and gas prices? Horizon Oil leaves Papua New Guinea
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9 Nov 2020 by 1 Comment
Horizon Oil has announced that it is selling its assets to its co-venturer Arran Energy and pulling out of Papua New Guinea. The prospect of a weak oil price may be to blame, according to one analyst.
‘Promising’ forecast: Papua New Guinea’s economy doing well compared to neighbours, says bank
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29 Oct 2020 by Leave a Comment
Papua New Guinea is increasing its debt by less than other nearby nations and the contraction of its economy is not expected to be as severe as the world average, says a Kina Bank report.
Commodities update: palm oil reverses trend, LNG soars but oil continues to weaken
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28 Oct 2020 by Leave a Comment
LNG prices continue to surge and are now up by over a third this year. But oil prices eased and cocoa prices also fell slightly. Business Advantage PNG’s monthly review of commodity and financial markets.
‘Slow recovery’: Business Council of Papua New Guinea demands focus on economy
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20 Oct 2020 by Leave a Comment
Business in Papua New Guinea has responded well to COVID-19 but is now facing a downturn at the lower end of expectations. David Toua, board member of the Business Council of Papua New Guinea says the focus now needs to turn to the economy.
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