With a new strategy to manage Papua New Guinea’s foreign exchange shortages expected soon, the Bank of Papua New Guinea’s Acting Governor, Elizabeth Genia, has moved to reassure business leaders that a devaluation of the country’s currency is not on the cards.
In direct response to the ongoing disruption of fuel supplies in Papua New Guinea, Petroleum Minister Kerenga Kua has declared an extraordinary 30-day State of Emergency.
The Papua New Guinea kina is starting to experience a very gradual erosion against its key trading currency, the US dollar.
Special Mining Lease application for the Porgera mine lodged, Japanese company JX Nippon to hold a stake of Papua LNG, and Papua New Guinea’s first green finance policy launched. Your business news in summary.
The Bank of Papua New Guinea, the country’s central bank, is undergoing notable changes. Its Chairman, David Toua, comments on what’s behind the changes, the challenges faced by the bank and the road ahead for foreign exchange.
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.
Central bank welcomes a new Acting Governor, the Papua New Guinea Chamber of Mines and Petroleum farewells Executive Director, Nambawan Super gets new board member, changes at Ok Tedi Mining, and Credit Corp announces staff changes.
Business Advantage PNG looks to the year ahead and considers what Papua New Guinea-focused businesses can expect in the coming 12 months.
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.
Steamships to open first Marriott-branded property in Papua New Guinea, exports of mud crabs to Singapore, and temporary disruptions at Lae port. Your business news in a nutshell.