In brief: Barrick executives visit Papua New Guinea and other business stories

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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.

In brief: ‘historic’ green energy agreement between PNG and Fortescue Minerals and other business stories

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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.

Lower demand sees Papua New Guinea’s agricultural exports fall

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The latest figures from the Bank of Papua New Guinea reveal the negative impact of the global pandemic on PNG’s agricultural sector. Exports of all the country’s major agricultural commodities fell in the 12 months to September 2020, although the falls were partly offset by improved prices in some cases.

Diversify and conquer: what the future holds for Credit Corp in Papua New Guinea

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Peter Aitsi, Group Chief Executive Officer of Credit Corporation PNG, says the COVID-19 pandemic has had a significant impact on operations. He tells Business Advantage PNG that the company is moving to a more agile digital platform and diversifying its product range.

What’s on the agenda for Papua New Guinea business in 2021?

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With the Marape government surviving a challenge late last year and vaccines for the COVID-19 virus starting to emerge, Business Advantage PNG considers what business in Papua New Guinea can expect from the year ahead.

Commodities update: palm oil reverses trend, LNG soars but oil continues to weaken

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LNG prices continue to surge and are now up by over a third this year. But oil prices eased and cocoa prices also fell slightly. Business Advantage PNG’s monthly review of commodity and financial markets.

It’s time to devalue the kina, says Business Council

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The Business Council of Papua New Guinea has present its latest macroeconomic outlook, which outlines the risks faced by PNG’s economy and what business needs to recover from the COVID-19 downturn.

In brief: Barrick removes Porgera mine’s production from guidance and other business stories

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Porgera mine output is removed from Barrick’s full year guidance, Westpac announces new division for Westpac Pacific and Australia and New Zealand agree on a ‘trans-Tasman COVID-safe’ travel zone. The business news you need to kick-start your week.

Thinking about PNG’s COVID-19 economic response [opinion]

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Three academics, Dek Joe Sum, Maholopa Laveil and Stephen Howes, analyse Papua New Guinea’s monetary easing measures in response to COVID-19.

How Papua New Guinea’s central bank plans to sell government debt

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The Bank of Papua New Guinea is looking to sell government debt to international and local investors. Its Governor, Loi Bakani, outlines the challenges to Business Advantage PNG and their connection to PNG’s ongoing foreign exchange shortages.