Papua New Guinea businesses still face serious forex delays, despite interventions

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PNG banks and businesses tell Business Advantage PNG of considerable variation in wait times for foreign exchange, as the country’s central bank acknowledges the economic damage caused. We look at the prospects for improvement.

Papua New Guinea’s banks embrace a digital future

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Banks and finance firms are rolling out digital products to take advantage of increased connectivity across Papua New Guinea, where about 75 per cent of the population remain unbanked. Business Advantage PNG talks to the key players find out what’s coming.

Papua New Guinea’s growing middle class driving housing construction

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Papua New Guinea’s construction sector as a whole has returned to pre-COVID levels, driven in part by a growth in demand for housing. Business Advantage PNG looks at what’s driving the trend.

In brief: Puma Energy foreshadows risk of fuel shortages and other business stories

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Puma Energy head asks for help with foreign exchange to avoid fuel shortages, new World Bank report calls for reforms in PNG, Harbourside South development nears completion. Your business news in brief.

New players to fuel Papua New Guinea’s banking sector growth

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There is broad agreement that Papua New Guinea needs more competition in its banking sector, and several finance companies have flagged their desire to acquire banking licences. What happens next, however, is likely to depend on government action.

In brief: K92 gets lease extension for Kainantu mine and other business stories

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Canadian company K92 Mining gets lease extension, PNG DataCo announces cables damaged after the September earthquake have been repaired and Kina Bank changes plans because of the raise in corporate tax. Your business news, curated and summarised.

People moves: BSP, Barrick Gold, Heduru Moni, Kina Bank, Coca-Cola

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A new Group CEO for BSP Financial Group, Barrick Gold and Heduru Moni announce new Independent Directors, Kina Bank welcomes new Regional Manager and Coca-Cola appoints new marketing executive.

People moves: Kina Bank, Pharmaceutical Society, Air Niugini

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Kina Bank announces a new Business Development Manager, the Pharmaceutical Society of Papua New Guinea appoints new patron, and Air Niugini welcomes two new directors.

In brief: Wafi-Golpu mine negotiations reach ‘final leg’ and other business news

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MRA head says Wafi-Golpu mine negotiations are in their ‘final leg’, fuel prices expected to increase and coffee prices expected to drop. The business news you need this morning.

In brief: Pacific nations decline signing economic and security deal with China & other news

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Pacific nations, including Papua New Guinea, have declined signing a deal with China, Papua New Guinea Customs expects losses of K200 million and Ihu SEZ commences second phase and gathers interest from several countries. The business news your need.