A revitalised dairy industry aims for cheaper products on Papua New Guinea’s supermarket shelves by October

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The first of 500 cows arrive in Papua New Guinea from New Zealand this week, (25 May) as a commercial-scale dairy industry gets closer to production in Central Province. And the CEO of Innovative Agriculture Industries, Ilan Weiss, says milk products will be on local supermarket shelves by October.

Releasing more land key to increasing Papua New Guinea home ownership

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Demand for housing in Papua New Guinea is strong but there is a shortage of supply, according to the latest survey by Hausples, a Port Moresby-based real estate technology company.

Opinion: The Institute of National Affairs reaches a milestone as the voice of reason in Papua New Guinea

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The Papua New Guinea Institute of National Affairs celebrates 40 years this year as the country’s leading ‘think tank’, research and public policy advisory service for government and business on key economic issues. Executive Director, Paul Barker, reflects on its history and achievements.

Opinion: Proposed Papua New Guinea Land Act changes would harm investment, says Barker

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The proposed amendments to Papua New Guinea’s Land Act are a cause for concern, argues the Institute of National Affairs’s Paul Barker. He says, if implemented, the legislation would scare off foreign investors at a time when the Government is looking for capital to encourage economic diversification.

Third stage of minimum wage increase for Papua New Guinea workers effective from July

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The minimum wage in PNG will rise to K3.50 an hour from 1 July, from the current rate of K3.36.

In brief: Pacific Marine Industrial Zone gets the go ahead, and other business stories

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Government tells Chinese company to start building Madang’s Pacific Marine Industrial Zone, new Tourism Minister unimpressed with Tourism Promotion Authority and second LNG ship is named Kumul. Your weekly digest of the latest business news.

In brief: Bank of Papua New Guinea seeks K793 million loan to assist foreign exchange backlog, and other business stories

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Central bank seeks temporary loan to cover backlog of demand for foreign currency, district grants and non-tax paying companies under fire and kina to fall to its lowest level since 2003 if current rate of depreciation continues. Your weekly digest of the latest business news.

Second mine suspension in Papua New Guinea highlights drought impact

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The suspension of a second mine in Papua New Guinea has highlighted the impact of the El Nino drought, which is also severely affecting the agriculture industry. Just how long the drought continues for will determine the long-term effects, according to Paul Barker, the Executive Director of the Institute of National Affairs.

Ok Tedi mine closure could cost Papua New Guinea K2.7 billion

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The El Nino weather pattern which has seen the temporary closure of the Ok Tedi mine could potentially last for up to a year, according to former senior PNG agriculture business executive, Bob Hansen, adding the loss of mining income could be as much as K2.77 billion a year.

Plenty of growth yet in China for Papua New Guinea business

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China’s economy has promising prospects even as it adapts to a ‘new normal’ stage of its economic development. So what impact will a lower Chinese growth rate have on Papua New Guinea? Business Advantage PNG asks three regional analysts.