Bank of Papua New Guinea’s quarterly report indicates economy patchy

The Bank of Papua New Guinea’s latest Quarterly Economic Bulletin points to a ‘slight improvement’ in economic activity in the September quarter driven by higher government expenditure and a marginal increase in private sector lending. It records an improvement in exports and commodity prices and a slowing in the increase of inflation, but lower employment levels.

Papua New Guinea must promote its financial system to the world, say financiers

Leading financiers have called for better international marketing of the country’s financial system and assets. They told the Business Advantage Papua New Guinea Investment Conference, that it is an important step towards creating more mature financial markets.

Governor of Bank of PNG tells conference higher food production critical

Diversification of the Papua New Guinea economy is critical to maintaining economic growth according to Loi Bakani, the Governor of the Bank of Papua New Guinea. He told the PNG Investment Conference in Sydney that a particular area of concern is the high level of food imports.

In brief: Employment Act review underway, and other business stories

Employment and IR laws under review, Police Commissioner appeals for end to blockade of Highlands Highway, and new Agriculture Minister promises to pursue K20m for coffee borer repair. Your weekly digest of the latest business news.

In brief: No new taxes, says Prime Minister, and other business stories

O’Neill says Supplementary Budget won’t contain any new taxes, Oil Search MD says oil and gas sector could earn K60 billion over the next seven years, and central bank prepares to use block chain technology. 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.

Five questions to economist Rohan Fox on Papua New Guinea’s exchange rates and APEC 2018

Papua New Guinea needs greater flexibility in the exchange rate, Rohan Fox, Lecturer and Research Fellow at the University of Papua New Guinea’s Division of Economics, explains to Business Advantage PNG. He believes APEC will be a boost to the economy but not enough to spark a general recovery.

Papua New Guinea economy stabilising, but financial stresses remain says Bank of PNG

The Papua New Guinea economy is gradually stabilising as it adjusts to the impact of the PNG LNG project, according to the Bank of PNG’s latest Monetary Policy Statement. Real economic growth is predicted to be 2.8 per cent, the kina has been steady, and the 2016 balance of payments was in surplus. But there are financial stresses, as David James reports.

Commodities stable but LNG weak: a monthly review of Papua New Guinea’s commodities and financial markets

Commodity prices were reasonably stable over the month and precious metals strengthened. But the weakness in Liquefied Natural Gas (LNG) prices continued. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.

In brief: Tenders out for Highlands Highway upgrade, and other business stories

Government puts out tenders for the first part of a K3 billion Highlands Highway upgrade, demand for foreign currency falls, and report that 31 per cent of log exports from illegal SABLs.