In brief: Asian Development Bank downgrades Papua New Guinea’s growth outlook, and other business stories

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Papua New Guinea’s growth forecast downgraded by Asian Development Bank, Bank of PNG says growth this year will partly be driven by non-mineral sector activity, plus claims PNG’s global corruption rating will depend on government commitment to accountability. Your weekly digest of the latest business news.

In brief: Bank of Papua New Guinea seeks K793 million loan to assist foreign exchange backlog, and other business stories

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Central bank seeks temporary loan to cover backlog of demand for foreign currency, district grants and non-tax paying companies under fire and kina to fall to its lowest level since 2003 if current rate of depreciation continues. Your weekly digest of the latest business news.

In brief: manufacturing affected by downturn in the economy and other business stories

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Manufacturing affected by downturn in economy, Japanese International Co-operation Agency ready to start Lae-Nadzab Development Project and CPL’s profit comes in at K6.5 million. Your weekly digest of the latest business news.

In brief: Mining resumes at the Porgera gold mine following partial closure, and other business stories

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Suspension of operations at Porgera mine lifted after 16 days, consumers to wait for imported vegetables, and Woodside reiterates ‘fairness’ of Oil Search takeover offer. Your weekly digest of the latest business news.

In brief: PM to launch construction phase of Pacific Marine Industrial Zone project, and other business stories

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Pacific Marine Industrial Zone construction to start this month, personnel emoluments overruns costing PNG millions, and Newcrest Mining delivers profit. Your weekly digest of the latest business news.

Second mine suspension in Papua New Guinea highlights drought impact

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The suspension of a second mine in Papua New Guinea has highlighted the impact of the El Nino drought, which is also severely affecting the agriculture industry. Just how long the drought continues for will determine the long-term effects, according to Paul Barker, the Executive Director of the Institute of National Affairs.

In brief: Papua New Guinea Government may review petrol supply regime, and other business stories

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O’Neill indicates government may open up petrol supply market, Australia questions if vegetable import ban breaches global trade rules, and plans for an 800,000 hectare forest in Western Highlands. Your weekly digest of the latest business news.

In brief: Highlands Pacific makes nickel discovery at Sewa Bay, and other business stories

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Sewa Bay shows potential for Highlands Pacific, El Nino weather conditions to continue into 2016, and import ban on fruit and vegetables. Your weekly digest of the latest business news.

In brief: US power and construction company eyes Papua New Guinea as next location, and other business news

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Pernix Group looks to expand into Papua New Guinea, European Investment Bank invited into PNG and Finance Minister says LNG is not ‘a waterfall’ of money.

In brief: Business endorses new Papua New Guinea police chief, and other business stories

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Business endorses new Police Commissioner, Kumul Flyover opens, and Oil Search chief says low prices are here to stay. Your weekly digest of the latest business news.