New Public Interest Directors at PNGX and Inaugural Directors announced at the PNG Independent Commission Against Corruption (ICAC).
In brief: record profits for Nasfund despite challenging year in Papua New Guinea
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30 Mar 2022 by Leave a Comment
Nasfund reports record profits and all-time highs in its annual report, Nambawan Super launches two new products and announces positive results for 2021, and the ICCC revokes its authorisation for PNG Air–Link PNG deal. The business news you need today.
In brief: ICCC approves Telstra’s acquisition of Digicel and other business stories
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21 Feb 2022 by Leave a Comment
Green light for Telstra’s acquisition in Papua New Guinea, Newcrest posts disappointing six month results and flights to Lihir Island resume. The business news your need this week.
Oil Search’s shareholders vote overwhelmingly to merge with Santos
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7 Dec 2021 by Leave a Comment
Oil Search’s shareholders have voted overwhelmingly to approve its merger with fellow petroleum and gas company Santos at a special shareholders meeting. With National Court and ICCC approval also received, the way is clear for the creation of a A$23 billion (K56.88 billion) resources company.
Regulator rejects Kina Bank’s acquisition of Westpac’s Papua New Guinea assets
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14 Sep 2021 by 7 Comments
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.
Kina Bank presents its vision for Westpac to Papua New Guinea’s regulator
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16 Aug 2021 by 1 Comment
If Kina Bank’s acquisition of Westpac’s Pacific operation proceeds, it will be rebranded East West Commercial Bank, a stand-alone ‘Pan-Pacific’ bank to compete against its new parent. That’s according to a presentation made by Kina last week as it tries to convince Papua New Guinea’s Independent Consumer and Competition Commission of the deal’s merits.
In brief: Papua New Guinea SOEs’ tax debt close to K700 million and other business stories
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4 Aug 2021 by 1 Comment
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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28 Jul 2021 by Leave a Comment
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.
ICCC proposes to disallow Kina Bank’s acquisition of Westpac’s Pacific assets
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27 Jul 2021 by Leave a Comment
In an interim determination, Papua New Guinea’s Independent Consumer and Competition Commission (ICCC) says it may not allow Kina Bank to buy Westpac’s remaining assets in the Pacific.
PNG Air’s board pursuing plan to keep Papua New Guinea’s second domestic airline ‘viable’
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19 May 2021 by Leave a Comment
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.
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