As Papua New Guinea business gets back to work for a new year, Business Advantage PNG looks ahead to consider what 2016 may bring.
BSP (including Financial Group)
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.
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.
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Papua New Guinea business sees light at the end of the tunnel
In spite of the talk about an economic slowdown in 2016, Papua New Guinea’s capital, Port Moresby, is a city where plenty is still happening as 2015 comes to a close. Business Advantage International’s Andrew Wilkins reflects on recent discussions with Papua New Guinea business leaders.
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.
Treasurer Patrick Pruaitch denies Budget blowout, Kumul Petroleum to evaluate methanol plant and small rise in inbound tourism. Your weekly digest of the latest business news.
As Papua New Guinea’s business community continues to face foreign exchange shortages, ANZ Bank has called for a relaxation of the enforced trading band for the kina. Meanwhile, analysts say the kina is facing further downward pressure from the US dollar.
Analysts predict Woodside will up its takeover offer for Oil Search, Business leader estimates K1.5 billion in foreign currency waiting for processing, and NZ re-opens its trade office in Port Moresby. Your weekly digest of the latest business news.
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.