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.
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.