Mineral Resources Enga signs ‘milestone agreement’ towards the reopening of the Porgera mine, negotiations for sale of Telikom PNG and Air Niugini to upgrade fleet. The business news you can’t miss.
Bank of Papua New Guinea (BPNG)
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.
What can we expect from Papua New Guinea’s 2022 National Elections? And what are the major challenges facing the winner? Stephen Howes considers.
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.
Barrick’s CEO Mark Bristow is in Papua New Guinea to advance Porgera talks, K92 Mining announces expansion, and Eastern Highlands Province in lockdown. The business news you need today.
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.
Fortescue and Papua New Guinea Government sign landmark agreement to venture into green energy productions, the Bank of PNG flags two new projects and Minister apologises over Pasca A negotiations. The business news you need today.
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 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.
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.