In brief: Kina expected to weaken, and other business news

Kina expected to weaken, Total aims for transparency, and Air Niugini defers planned flights to Shanghai. A weekly digest of the latest business news.

ADB’s Papua New Guinea head reveals more details of the Highlands Highway upgrade

The Asian Development Bank will start redeveloping the entire Highlands Highway simultaneously rather than doing it in sections, according to David Hill, Country Director for the ADB. He outlined the ADB’s focus on improving both physical and digital connectivity in Papua New Guinea.

MYEFO report says Government wants to bring forward sovereign bond raising to solve forex shortages

The Government’s Mid-year Economic and Fiscal Outlook (MYEFO) statement has indicated that it is in the ‘advanced stages’ of negotiating the country’s first sovereign bond later this year. The strategy is being adopted to solve the nation’s foreign exchange shortages, but it does carry risks.

Higher commodity prices are boosting Papua New Guinea’s economy, says ADB economist

The Papua New Guinea economy is set to grow steadily, according to Edward Faber, Country Economist for the Asian Development Bank (ADB). He told the Business Advantage PNG Investment Conference in Brisbane that the fate of the economy heavily depends on export prices.

In Brief: Oil Search makes gas discovery and other business news

A new gas discovery by Oil Search, special economic zone proposed for West Sepik province and new climate deal inked. Your weekly digest of the latest business news.

Join us in Sydney: Thomas, Pesce headline outstanding line-up for 2-in-1 investment conference

We are really excited about the program we have put together for our first investment conference in two years, which includes two heavyweight keynote speakers plus an impressive cross-section of PNG and international business leaders.

People moves: Asian Development Bank

The Asian Development Bank has appointed Ma Carmela Locsin as the new Director General for its Pacific department.

In brief: National Transmission Network ready by the end of 2017, and other business stories

Broadband network to be completed by the end the year, Oil Search concludes five-year credit agreement and ADB approves funding Highlands Highway project. Your weekly digest of the latest business news.

Ten-year project to repair and maintain Papua New Guinea’s critical Highlands Highway to start by year’s end, says Wereh

Work on the ‘most critical’ 90-kilometre section of the Highlands Highway will begin later this year, under an ambitious 10-year repair and maintenance program, funded by the Asian Development Bank. Works Secretary David Wereh tells Business Advantage PNG, he is already looking to use the funding model to ‘fix’ 16 High Priority roads in other parts of the country.

People moves: Asian Development Bank, UPNG, Chinese Embassy, PNG High Commissioner to UK

A new Country Director for the Asian Development Bank, Vice-Chancellor of UPNG steps down, the new Chinese Ambassador presents his credentials, and PNG’s UK High Commissioner takes on a key EU role