Regulator rejects Kina Bank’s acquisition of Westpac’s Papua New Guinea assets

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It is back to the drawing board for Kina Bank and Westpac, as Papua New Guinea’s Independent Consumer and Competition Commission has issued a ‘final determination’ declining authorisation of Kina’s proposed acquisition of Westpac Papua New Guinea.

In brief: Papua New Guinea SOEs’ tax debt close to K700 million and other business stories

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The Internal Revenue Commission’s potential plans for state-owned enterprises debt to be repaid, Fiji welcomes Kina Bank, and Link PNG’s proposed acquisition of PNG Air rejected again. The business news you need to know today.

In brief: ICCC says changes to electricity supply industry may affect Papua New Guinea’s electricity access goals

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The ICCC Commissioner issues warning about ‘complete chaos’ with the National Electricity Authority Act, Treasurer gives hope to potential overseas workers, and Nasfund opens a service centre in Maprik. The business news you need today.

PNG Air’s board pursuing plan to keep Papua New Guinea’s second domestic airline ‘viable’

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It will take ‘the next two to three years’ before PNG Air, Papua New Guinea’s second domestic airline, can foresee a return back to pre-COVID levels of business activity, according to statement issued to Papua New Guinea’s stock exchange yesterday.

In brief: African swine fever reaches Papua New Guinea and other business stories

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The Minister for Agriculture puts measures in place to stop the spread of the African swine fever and protect the pork industry, Prime Minister James Marape announces stimulus package and ICCC monitors shops to avoid price spikes in essential items. The business news you need to kickstart your week.

In brief: State-owned enterprises told to lift performance and other business stories

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Papua New Guinea’s state-owned enterprises given pep-talk by Minister, new Credit Guarantee Corporation to be established and Ramu NiCo sales fall. Your weekly digest of the latest business news.

In brief: Trump pulls out of APEC, and other business news

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Trump pulls out of APEC, China Navigation knocked back, and PNG on the verge of entering international capital markets. Your digest of the latest business news.

In Brief: Oil Search makes gas discovery and other business news

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A new gas discovery by Oil Search, special economic zone proposed for West Sepik province and new climate deal inked. Your weekly digest of the latest business news.

In brief: Fiji codeshare takes off, and other business stories

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Fiji codeshare gets off the ground, trade talks with Australia, and Goroka Airport now welcoming jets. Your weekly digest of the latest business news.

In brief: Papua New Guinea on the cusp of a ‘super cycle’ in mining investment, says the ANZ, and other business stories

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Papua New Guinea economy on the cusp of a mining boom, kina’s fair value ‘around US 23-25 cents’, and niche tourism could nearly triple tourism numbers in 10 years. Your weekly digest of the latest business news.