Wealthy royal families’ bid for Santos rejected, the high cost of domestic violence to business, and poor economic news prompts fall in business confidence. Your weekly digest of the latest business news.
ANZ (including ANZ PNG)
Cabinet re-appoints CEO of NICTA, a new CEO for ANZ Bank, and Finance Dept Secretary confirmed
As Papua New Guinea’s business community continues to face foreign exchange shortages, ANZ Bank has called for a relaxation of the enforced trading band for the kina. Meanwhile, analysts say the kina is facing further downward pressure from the US dollar.
A new NZ Trade Commissioner, a new Fiji Trade Commissioner and the CEO of ANZ Bank to step down
ANZ’s timely discussion paper, ‘Powering PNG into the Asian Century’, argues for further reform in Papua New Guinea’s electricity sector and a greater reliance on newer, cleaner energy technologies.
More high-quality exports needed for PNG, new approaches will assist PNG in meeting energy demand, and Japan’s Pan Pacific expects copper recovery. Your weekly digest of the latest business news.
Retailers, tourism operators and the hospitality industry are the main business beneficiaries of the 2015 South Pacific Games being hosted in Port Moresby, according to ANZ Economist Dan Wilson.
Ratings agency Standard & Poor’s says PNG’s banks operate in a ‘high risk’ environment, with regulation and supervision ‘comparatively lenient’.
Papua New Guinea’s economy is now emerging from a period of hiatus following the completion of its massive liquefied gas project. Andrew Wilkins talks exclusively to some of PNG’s top executives to find out their views on the economy.
The fall in global oil and gas prices will reduce the Papua New Guinea government’s revenue by at least K1.1 billion in 2016. A new Budget strategy is needed, argue economists Stephen Howe and Paul Flanagan, who suggest a solution may lie in the government selling its Oil Search shares.