Papua New Guinea government seeks to encourage more investment by opening stock exchange to more competition

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Prime Minister Peter O’Neill says a planned ‘shake up’ of the Port Moresby Stock Exchange (POMSoX) will lead to more innovation and increased domestic and international investment.

Oil Search records US$175.8m profit

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Oil and gas exploration and production company, Oil Search, has reported a US$175.8 m profit in its preliminary annual results, a 13% fall on last year, which the company attributes to high exploration expenses.

New Britain Palm Oil profit drops by 70%

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New Britain Palm Oil Limited reported a 70.4% gross profit decrease to US$81.6m in 2012.

Papua New Guinea’s capital markets

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After strong performances in 2009 and 2010, the Port Moresby Stock Exchange (POMSoX) experienced a tough 2011, as did many bourses around the world. The Kina Securities Index, which measures the health of PNG’s stock exchange, reported a 22.21% fall in 2011, but this fall should be seen in context. The region’s major exchanges—the Nikkei […]