In brief: Papua New Guinea to issue Eurobond later this year, and other business stories

A US$500 million Eurobond to be issued later this year, Government owes US$88 million to local businesses and February earthquake bill to cost five percent of government expenditure. Your weekly digest of the latest business news.

Papua New Guinea businesses donate K80 million in cash and aid for earthquake relief

Papua New Guinea businesses have donated at least K80 million in cash and equipment to aid February’s earthquake relief program.

O’Neill tells Papua New Guinea resources sector there will be no new taxes

Papua New Guinea’s Prime Minister, Peter O’Neill, told the PNG Mining and Petroleum Conference yesterday that there would be no new taxes for the resources sector. Meanwhile, presentations by the major industry players suggest the next 12 months will be critical in determining the future growth of the sector.

In brief: CPL recovering from fire at headquarters and warehouse, and other business stories

‘Too early’ to identify cause of fire at country’s largest retailer’s headquarters and warehouse, assessment of submarine cable underway, and Competition Commission says InterOil takeover may affect market for pipelines. Your weekly digest of the latest business news.

Papua New Guinea using multiple energy sources to meet growing need

Papua New Guinea is taking a multi-pronged approach to its energy provision. Business Advantage PNG takes a look at the nation’s approach to meeting its power needs.

In brief: Foreign currency issues continue to cause problems, and other business stories

Foreign currency issues continue to cause problems, profit announcements for Nambawan Super and Bank South Pacific and InterOil acquisition finalised. Your weekly digest of the latest business news.

InterOil shareholders approve revised takeover proposal

InterOil shareholders have overwhelmingly approved a revised takeover bid from ExxonMobil, despite opposition from InterOil founder, Phil Mulacek.

In brief: Business leaders predict job losses, pessimistic about revenue growth in 2017, and other business news

‘More jobs to go’ warning if business continue to rationalise, O’Neill says $S300m loan to be used foreign exchange, Australia funding APEC 2018 to fend off China. Your weekly digest of the latest business news.

In brief: Vote on revised InterOil takeover bid in February, and other business stories

InterOil shareholders to vote on revised takeover bid by ExxonMobil in February, government debt rises in September quarter, Oil Search and Kumul Energy to evaluate proposed power projects. Your weekly digest of the latest business news.

InterOil ponders appeal after Canadian court upholds appeal against takeover by ExxonMobil

The Chairman of InterOil, Chris Finlayson, says the company is considering an appeal to the Supreme Court of Canada after a court upheld an appeal against the US$2.5 billion (K7.9 billion) sale of InterOil to ExxonMobil. Meanwhile, the man behind the appeal, Phil Mulacek, tells Business Advantage PNG he’s open to dialogue.