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.
Asian Development Bank (ADB)
Major road works in Papua New Guinea are now outsourced to the private sector, under a design-and-build model. The result, says the Secretary of the Works Department David Wereh, is improved performance.
Asian Development Bank analysis showing just how vulnerable Pacific nations are to natural disasters, but what can be done to better manage the risk? Wayne Dorgan from leading Papua New Guinea insurer Pacific MMI calls on disaster co-ordinators in the region to consult more closely with the insurance industry.
A drilling campaign covering 1.5 km in the Gulf region has revealed there is enough high quality coal to run a 50-megawatt power station for 30 years, according to Paul Mulder, CEO of Brisbane-based unlisted miner, Mayur Resources.
Pacific economies are expected to grow an average of 9.9% in 2015, as ‘positive external flows outweigh the impacts of recent disasters’, according to the Asian Development Bank’s Pacific Mid-Year Review.
O’Neill wants PNG to take advantage of global business opportunities, Australia provides additional development funds, and Air Niugini outsources Lihir airport services. Your weekly digest of the latest business news.
Bougainville Copper to seek formal acknowledgment of Bougainville mining rights, Post PNG pays first dividend, and low-cost ‘squatter’ housing project in Fiji. Your weekly digest of the latest business news.
Italian firm to construct giant Chimbo hydro dam, SOEs’ assets valued at K20 billion, and development concept for Elk-Antelope expected by mid-year. Your weekly digest of the latest business news.
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 Asian Development Bank’s departing Papua New Guinea economist, Aaron Batten, says agriculture is the big winner with the current downturn in commodity prices, while its Country Director Marcelo Minc flags further bank investment in PNG.