PNG Bank governor says shortage of forex affecting businesses, interest rates comparatively ‘very high’, and ANZ identifies small inflation rise. Your weekly digest of the latest business news.
ANZ (including ANZ PNG)
Papua New Guinea is well positioned to benefit from rising LNG demand, despite falling prices, says InterOil Managing Director, Michael Hession.
LNG focus for Oil Search, ANZ warns on debt risk, and Barrick plans to offload Porgera mine. Your weekly digest of the latest business news.
Pacific leaders have been the recipients of largesse from India’s Prime Minister and China’s President, who met in Fiji last week. Meanwhile, a new ANZ report details the increasingly close links between China’s aid and its investment in the Pacific.
Westpac CEO to retire, New CEO for ANZ in Vanuatu
Failure to set up the Sovereign Wealth Fund criticised, Telikom undertakes ‘due diligence’ on EMTV, and a call to continue tax breaks for resource sector investors. Your weekly digest of the latest business news.
Call for government to lower interest rates, inflation rises and Air Niugini reduces fuel surcharge. Your weekly digest of the latest business news.
The Papua New Guinea economy is facing significant challenges, as growth reaches 20-22% next year, ANZ Asia-Pacific Chief Economist Glenn Maguire told this month’s Papua New Guinea Advantage Investment and Infrastructure Summit in Port Moresby.
Foreign investment in the Fiji economy is expected to return, following the first democratic election since the 2006 coup. Tourism, infrastructure and natural resources are three sectors expected to benefit, but economists and business leaders say that will depend on political and policy stability, as Kevin McQuillan reports.
The Papua New Guinea economy faces a conundrum: how to finance deficit spending as cheaply as possible. ANZ analysts suggest a global bond issue as a solution. At the same time, ANZ CEO Mike Smith urges a national discussion about how to capitalise on the Asian Century.