Chief Secretary indicates SABL leases will be returned soon, and Woodside CEO says Oil Search bid his ‘full price’. Your weekly digest of the latest business news.
Bank of Papua New Guinea (BPNG)
The Papua New Guinea government will cut K1.6 billion in expenditure from its 2015 Budget, and may seek further cuts of K1 billion, according to Treasury Secretary, Dairi Vele.
Exports from Papua New Guinea rose 64 per cent in value during 2014 to K21,903.6 million, largely due to the start of LNG production, according to the Bank of Papua New Guinea.
Credit Corp profit down, companies begin closing offshore foreign currency accounts, and new air navigation system to be installed across Papua New Guinea. Your weekly digest of the latest business news.
Four new Knighthoods are among a total of 91 Papua New Guineans recognised by the Queen in this year’s Queen’s Birthday Honours list.
Falling commodity prices and rating outlook drop prompts Budget review, O’Neill supports Madang marine zone and new police chief to boost numbers in Port Moresby. Your weekly digest of the latest business news.
The impact of the fall in LNG prices since the 2015 Budget was prepared in October last year warrants a mid-year mini-Budget, according to prominent economist Paul Flanagan.
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.
Liquidity conditions have emerged as a major source of risk for the PNG economy, as the central bank governor reveals he spent US$570.9 million (K1.48 billion) to support the kina last year.
The Governor of the Bank of Papua New Guinea says his recent directives on dealing in the kina are not meant to frighten or scare the market, but to help address the imbalance in the foreign exchange market and restore order.