Papua New Guinea is on the verge of a resources boom, according to Kishti Sen, International Economist for the ANZ Banking Group. He told the recent Australia–Papua New Guinea Business Forum that the challenge is to manage the economic cycles.
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New owner of diversified technology company TE sees big future in Papua New Guinea
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1 May 2018 by Leave a Comment
Retailer and wholesaler TE (PNG) is a diversified and adaptable company, says new Managing Director Robbie Huxley. He tells Business Advantage PNG he decided earlier this year to buy the 60-year-old company because he sees a positive future for PNG
PM insists Papua New Guinea economy strong despite critics
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1 May 2018 by Leave a Comment
The Prime Minister Peter O’Neill has criticised external commentators for ‘bias’ when assessing the PNG economy. Speaking at the 34th Australia Papua New Guinea Business Forum in Brisbane, he expressed optimism about the proposed Papua LNG project but said the economy has to be diversified to avoid boom and bust cycles.
United Kingdom confirms post-Brexit trading arrangements with Papua New Guinea
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1 May 2018 by Leave a Comment
In a move that will reassure Papua New Guinea exporters to the United Kingdom, the UK government has confirmed it will maintain the European Union’s current trading arrangements with PNG after ‘Brexit’. Meanwhile, Prime Minister O’Neill has flagged ‘huge incentives’ for investments in agriculture and tourism, Business Advantage PNG reports from London.
SME credit fund role part of our Papua New Guinea social responsibility, says Kina Bank CEO
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24 Apr 2018 by 1 Comment
Kina Bank is working with the Australian government and other donors to set up a credit fund for small and medium sized business. CEO Greg Pawson has told business leaders in Port Moresby the scheme is part of the bank’s corporate responsibility.
In brief: Papua New Guinea on the cusp of a ‘super cycle’ in mining investment, says the ANZ, and other business stories
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24 Apr 2018 by Leave a Comment
Papua New Guinea economy on the cusp of a mining boom, kina’s fair value ‘around US 23-25 cents’, and niche tourism could nearly triple tourism numbers in 10 years. Your weekly digest of the latest business news.
Standard & Poor’s lowers Papua New Guinea’s rating
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24 Apr 2018 by Leave a Comment
S&P Global Ratings has lowered its long-term foreign and local currency sovereign credit ratings on Papua New Guinea (PNG) to ‘B’ from ‘B+’, but it believes the outlook is ‘stable’. The agency points to bigger than expected fiscal deficits because of ‘a loss of revenue and reconstruction costs after a recent earthqu
Oil prices and silver are up: a monthly review of Papua New Guinea’s commodity and financial markets
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24 Apr 2018 by Leave a Comment
Oil prices are rising and silver is also strengthening. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
In brief: LNG production resumes earlier than expected, and other business stories
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18 Apr 2018 by Leave a Comment
Production resumes at the LNG plant as more reserves found, BHP Billiton to be sued over alleged environmental damage, and talks with China over a free trade agreement. Your weekly digest of the latest business news.
Transparency Initiative report calls for improved systems in extractive sector in Papua New Guinea
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4 Apr 2018 by Leave a Comment
The Extractive Industries Transparency Initiative Report for 2016 has found that improvements are being made to registry and payment systems, but more needs to be done. It notes that budgeting to government revenues remains difficult because of the industry’s volatility and the relatively small number of companies paying full tax.
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