O’Neill sacks two more Cabinet ministers, Exxon expects LNG exports to start early and Ok Tedi Mining profits plunge 80%. Your weekly digest of the latest business news.
ANZ (including ANZ PNG)
PNG’s new Petroleum Minister, officials in Abu Dhabi to negotiate Oil Search bond buyback, and the cost of Manus Detention Centre detailed. Your weekly digest of the latest business news.
Competition concerns over Elk-Antelope share holdings, ABG keen to re-open Panguna and Treasurer orders bank charges review. Your weekly digest of the week’s business news.
The ANZ Bank last month predicted the kina will fall by up to 10% in value by the end of 2014, in anticipation of income from the LNG project. Paul Barker from the Institute of National Affairs, looks ahead several years to when that income begins to have ‘a substantial impact’.
A new, independent director at New Britain Palm Oil, two new executives at InterOil, and other appointments.
The value of the Papua New Guinea’s currency, the kina, is expected to fall as much as ten per cent over the coming year, after stabilising for the last two months, according to Lead Pacific Economist at ANZ Bank, Daniel Wilson.
While its bullish prediction of US$23 billion in export earnings for Papua New Guinea by 2030 may have garnered the headlines, there’s a lot more to ANZ’s ‘Bold Thinking: Imagining PNG in the Asian Century’ report, released this week.
A new ring road being built ahead of the 2018 APEC summit, diplomats warned and other local and international stories.
The sharp fall of Papua New Guinea’s currency, the kina, over the past few months is a cause for concern, with Manufacturers Council of PNG CEO Chey Scovell describing it as a ‘real kick in the guts’ for local manufacturers.
The annual Papua New Guinea Advantage investment summit was held this week in Port Moresby. After two days of discussions, presentations, speeches, dinners and question-and-answer sessions, here are five observations.