Ok Tedi’s cashflow plus new loan to ease foreign exchange situation, feasibility study to look at water pipeline from Highlands to Queensland, and illegal fishing in Pacific costs US$660 million a year. Your weekly digest of the latest business news.
Recently released results of some of Papua New Guinea’s major companies indicate that the economic downturn in 2015 put significant pressure on earnings. However, while energy companies suffered most, PNG’s finance sector proved resilient.
LNG overtakes gold as PNG’s top export, number of female executive appointments in PNG public service low and Bank of South Pacific reports profit rise. Your weekly digest of the latest business news.
The launch of the country’s first master plan to develop the Small and Medium Sized Enterprise (SME) sector reflects a growing acknowledgment by Cabinet ministers that they need to grow sectors other than mining.
Oil Search leader says PNG ‘well placed’ to manage low commodity price regime, Ok Tedi expected to be profitable, and BSP reports 5 per cent profit increase. Your weekly digest of the latest business news.
In spite of a ‘challenging’ 2015 and tough market conditions, the latest Bank South Pacific analysis suggests that the ‘worst period may be over’ in Papua New Guinea. However, it is cautious about the prospects for the government’s planned US$1 billion ‘circuit breaker’ sovereign bond issue.
The creation of a registry of personal assets to be used as loan security will boost the small business sector, according to Moses Liu, the Managing Director of the National Development Bank.
As Papua New Guinea business gets back to work for a new year, Business Advantage PNG looks ahead to consider what 2016 may bring.
There is some relief ahead for businesses struggling to access foreign exchange, according to the CEO of the country’s biggest bank, BSP. Robin Fleming says investment in the mining and petroleum sector and a new Sovereign Bond are the keys to boosting foreign exchange inflows.
PNG Ports secures ‘landmark transaction’ with BSP for Motukea Island facilities, impact of kina’s exchange rate over-valuation analysed, and Harmony Gold confirms Kili Teke copper-gold discovery. Your weekly digest of the latest business news.