The governor of the Bank of Papua New Guinea, Loi Bakani, says that the shortage of foreign exchange is ‘an issue based on supply and demand of foreign currency for kina.’ One way to increase demand for a nation’s currency is to modernise the bond markets. A World Bank report has looked at some options.
Trade Minister Richard Maru wants trade issues with Fiji resolved this month, UBS buys into Kina Securities, and ANZ offers debit cards in PNG.
Competition Commission concerned about possible monopoly in gas sector, O’Neill to issue statement on government shareholding in BCL and ANZ Bank CEO says there may be a need for a Supplementary Budget. Your weekly digest of the latest business news.
A new board at K92 Mining, Director re-elected at Kina Securities, new CFO at ANZ , Melbourne
ANZ appoints Pacific Regional Executive, new Government Ministers, a new board member at MiBank, Newcrest appoints a new External General Manager and a new Director-General at the Melanesian Spearhead Group.
ANZ Bank’s regional CEO to retire, senior management changes at Santos
Steamships’ Chairman retires, a new ANZ CEO for Cook Islands
The current rise in the US dollar is likely to flatten in 2016, offering respite to Pacific curencies, according to ANZ economists, Glenn Maguire and Eugin Lee.
Stanley Petroleum appoints first woman chair, senior management changes at ANZ Bank
PNG Ports secures ‘landmark transaction’ with BSP for Motukea Island facilities, impact of kina’s exchange rate over-valuation analysed, and Harmony Gold confirms Kili Teke copper-gold discovery. Your weekly digest of the latest business news.