The current rise in the US dollar is likely to flatten in 2016, offering respite to Pacific curencies, according to ANZ economists, Glenn Maguire and Eugin Lee.
foreign exchange
‘One building at a time’: Papua New Guinea’s K K Kingston prepares for next wave after consolidation
For the last 18 months, leading Lae manufacturer K K Kingston has been consolidating and restructuring. CEO Michael Kingston talks to Business Advantage PNG about the company’s strategy, his optimism for the future, and the issues facing businesses in Papua New Guinea.
While Papua New Guinea-related businesses are divided on the impact of a stronger kina, all agree it will have some effect on their business, according to Business Advantage PNG’s poll.
The sharp fall of Papua New Guinea’s currency, the kina, over the past few months is a cause for concern, with Manufacturers Council of PNG CEO Chey Scovell describing it as a ‘real kick in the guts’ for local manufacturers.