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.
ANZ (including ANZ PNG)
While reduced global commodity prices are having a major impact on Papua New Guinea government revenues this year, there are ‘incipient signs of a turnaround’, according to data published in the latest ANZ Pacific Quarterly, released this week.
Commercial banks in the Solomon Islands have closed down several logging company bank accounts, in a move that will make it almost impossible for those companies to receive export proceeds.
Three years ago, ‘Airport Economist’ Tim Harcourt came to Papua New Guinea to see how it was coping after the global financial crisis. In this excerpt from his forthcoming book, Trading Places – The Airport Economist’s Guide to International Business, he reflects on what he found.
The Pacific’s tourist sector has been resilient to the falling Australia and New Zealand dollars, according to the July ANZ Bank Pacific Monthly update.
Papua New Guinea’s currency, the kina, has lost around eight percent of its value against the US dollar over the past 12 months. What does this mean for business?
This month, global gold, copper and silver prices hit lows not seen for over two years, causing commentators around the world to suggest that the global mining boom, driven largely by demand from China, is over. How could this effect Papua New Guinea?
Papua New Guinea enters 2013 with a new government in place, a major gas project nearing completion and some ambitious development goals, reports Business Advantage PNG’s Andrew Wilkins.
Australia gets a new Parliamentary Secretary for the Pacific while ANZ loses its head of international banking.
Geoffrey Buchanan has been appointed ANZ’s new Chief Executive Officer for the Solomon Islands. Vanguard International has appointed Peter Garnsey as Executive Director in charge of its labour hire/contractor division.