Oil prices are up and copper is also strong, but LNG has weakened. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
BSP (including Financial Group)
Papua New Guinea is getting its house in order as it anticipates a period of stronger economic growth, driven in part by significant new investment in mineral production and infrastructure. In the first of a two-part series, Andrew Wilkins discusses its economy with business leaders and assesses where it is most likely to head.
Foreign exchange issues will continue in the short term according to Robin Fleming, Chief Executive of Bank South Pacific [BSP]. But he tells Business Advantage PNG that there are better longer-term prospects and that Papua New Guinea’s biggest bank is thriving in a challenging economic environment.
Mastercard is working with its banking partners to introduce smart card chip technology and contactless payments to Papua New Guinea (PNG). Craig Kirkland, Director of Pacific Islands for Mastercard talks to Business Advantage PNG about this technology and why PNG is an important market for the company.
The Solomon Islands economy has experienced steady growth over the last two years. Derek Aihari, Director of InvestSolomons tells Business Advantage PNG that the country is looking to develop its already close links to Papua New Guinea.
Promotion for Bank South Pacific’s NCG Area Manager, Papua New Guinea representative at pageant selected
Australia undermines Chinese bid to build undersea cables, gas-fired power project approved by NEC, and Frieda River gold project to start in 2019. Your weekly digest of the latest business news.
Kumul Petroleum signs MOU for design of floating LNG plant, K64 million tourism support for Milne Bay and ENB provinces, and BSP reports K185 million Q3 profit. Your weekly digest of the latest business news.
BSP wants another US$100-200m foreign exchange injection, Air Niugini expects local business benefits from Rugby League games, and gold refinery to expand. Your weekly digest of the latest business news.
A new Director at BSP, Senior appointments at Bougainville Copper