Power workers give management another week to respond to pay claims, the People’s Micro Bank to get a full banking licence, Sime Darby withdraws from takeover talks with NBPOL. Your weekly digest of the latest business news.
BSP (including Financial Group)
A new board member at the Bank of South Pacific
Foreign investment in the Fiji economy is expected to return, following the first democratic election since the 2006 coup. Tourism, infrastructure and natural resources are three sectors expected to benefit, but economists and business leaders say that will depend on political and policy stability, as Kevin McQuillan reports.
The Papua New Guinea Advantage Investment and Infrastructure Summit was held in Port Moresby this week. Over two days, delegates heard about Port Moresby becoming ‘the Dubai of the Pacific’, tax incentives in the 2015 Budget and how to develop relationships with Chinese business. Here are some highlights.
A new approach to managing PNG’s economy, Manus Island detention centre to be ‘wound down’, and PNG cricketers turning professional. Your weekly digest of the latest regional business news.
Japan funding K2 billion for roads and bridges, the National Executive Council prevents PNG Power from defaulting on overdraft and PanAust buys 80% share of Frieda River project. Your weekly digest of the latest business news.
The International Finance Corporation (IFC) has negotiated an additional US$50 million in funding for the Bank of South Pacific, to expand its financing and promote private sector growth.
Cabinet considers a plan to turn the lush Ramu Valley into a Special Economic Zone, Microbank aims at 50,000 customers and Nambawan Super’s overseas investments down 20 per cent. Your weekly digest of the latest business news.
A new player is preparing to enter Papua New Guinea’s palm oil industry, after Malaysian conglomerate Sime Darby was selected as the preferred bidder for Kulim Malaysia’s shares in PNG’s largest agribusiness, New Britain Palm Oil (NBPOL). What do analysts think of the move?
The PNG Government plans to rebuild the country’s military barracks by 2017, InterOil halts drilling at Wahoo-1, and Bank of South Pacific plans share buyback. Your weekly digest of the latest business news.