CEO Danny Robinson walks Business Advantage PNG through plans to become a niche commercial bank after the [bank] regulator recently fast-tracked the finance company’s application for a full banking licence in Papua New Guinea.
Credit Corp PNG CEO explains why the company is on the cusp of a major transformation
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17 May 2023 by 1 Comment
Foreign exchange shortages still biting business in Papua New Guinea
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27 Oct 2022 by 1 Comment
The Bank of Papua New Guinea expects a ‘windfall’ from higher international commodity prices to alleviate some of the country’s foreign exchange shortages. However, anecdotal evidence suggests the forex situation is actually getting worse.
Latest Central Bank figures indicate Papua New Guinea’s economy is rebounding
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11 May 2022 by Leave a Comment
Recently released data from Papua New Guinea’s central bank indicates the country’s economy bounced back significantly in the September 2021 quarter on the back of a massive increase in export receipts due to higher commodity prices. While private sector employment and sales also rose, the bank warns inflation is also on the march.
Election time: Papua New Guinea in 2022 [opinion]
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25 Jan 2022 by Leave a Comment
What can we expect from Papua New Guinea’s 2022 National Elections? And what are the major challenges facing the winner? Stephen Howes considers.
In brief: new resources projects moving forward Prime Minister Marape tells resources industry and other business stories
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6 Dec 2021 by Leave a Comment
New resources projects moving forward, Prime Minister Marape tells resources industry, Fortescue’s CEO visits the Purari hydropower project and the ADB welcomes changes to Kumul Consolidated Holdings legislation. The business news you need today.
In brief: BSP Financial Group announces half year results and other business stories
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25 Aug 2021 by Leave a Comment
BSP Financial Group and Oil Search present half year results, Papua New Guinea signs agreement with the Organisation for Economic Co-operation and Development. The business news you need today.
ICCC proposes to disallow Kina Bank’s acquisition of Westpac’s Pacific assets
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27 Jul 2021 by Leave a Comment
In an interim determination, Papua New Guinea’s Independent Consumer and Competition Commission (ICCC) says it may not allow Kina Bank to buy Westpac’s remaining assets in the Pacific.
BSP denies regulator’s anti-money laundering allegations
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14 Jul 2021 by Leave a Comment
BSP Financial Group (BFL) has responded to allegations made by the Bank of Papua New Guinea’s Financial Analysis and Supervision Unit (FASU) that it was in breach of the country’s anti-money laundering laws. Meanwhile, the Bank of PNG’s Governor has distanced the central bank from the allegations made by its own unit.
Gradual devaluation of Papua New Guinea’s currency would be ‘helpful’, says banker
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9 Jun 2021 by 7 Comments
Papua New Guinea’s currency, the kina, has been steady this year after weakening against a number of major currencies in late 2020. Should it be devalued further? We asked Jonathan Prince, Treasurer at Westpac PNG, to consider the consequences.
In brief: Bank of Papua New Guinea to undergo review and other business stories
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9 Jun 2021 by Leave a Comment
The Bank of Papua New Guinea to be reviewed, Porgera jobs plan, and new strategic plan for women in coffee. The business news in brief.
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