In brief: Papua New Guinea government ‘committed’ to resolving royalty dispute at PNG LNG site, and other business stories

Welcome,

Blockade of PNG LNG site now its second week, Trade Minister threatens Fiji over refusal to import PNG products, and fears of job losses if rice import quotas introduced. Your weekly digest of the latest business news.

Survival of Papua New Guinea industry threatened unless greater protection, say business figures

Welcome,

There is a growing call for greater protection of Papua New Guinea industry to respond to allegedly unfair international competition. A number of manufacturers tell Business Advantage PNG that most countries have used protectionism to foster their domestic industries and it is time for PNG to do the same.

Manufacturers survey: adapting to tougher economic conditions

Welcome,

Papua New Guinea’s manufacturers experienced difficult conditions in 2015 and many are concerned that things will get worse before they get better. David James talks to some of the key figures from the sector to find out how they are coping with the tough market conditions.

In brief: manufacturing affected by downturn in the economy and other business stories

Welcome,

Manufacturing affected by downturn in economy, Japanese International Co-operation Agency ready to start Lae-Nadzab Development Project and CPL’s profit comes in at K6.5 million. Your weekly digest of the latest business news.

Six things we learned at Australia–Papua New Guinea Business Forum in Lae

Welcome,

Trade Minister Richard Maru has urged Australian and Papua New Guinean business leaders to look seriously at diversifying their areas of investments.

In brief: Papua New Guinea’s rating outlook falls to negative with Moody’s downgrade, and other business stories

Welcome,

Moody’s lowers Papua New Guinea rating outlook, Australians banned from Bougainville, and PNG to commence free trade talks with China. Your weekly digest of the latest business news.

Papua New Guinea Manufacturers’ Council calls poultry ban ‘premature’

Welcome,

The Manufacturers’ Council has described the ban on some uncooked poultry products from Australia as ‘premature’, and called for the ban to be lifted.

Companies struggle to pay bills, after the Bank of Papua New Guinea ‘rations’ kina

Welcome,

Restricting the margins at which the kina can be traded against the US dollar has had little positive effect, with some companies struggling to pay bills, as the central bank reportedly restricts the purchase of US currency, Manufacturers Council of Papua New Guinea CEO Chey Scovell tells Business Advantage PNG.

Stronger kina will affect exporters, say business leaders

Welcome,

The Bank of Papua New Guinea’s move to strengthen the value of the Papua New Guinea kina against the US dollar has taken business by surprise, with some business leaders saying it will impact on primary industry producers.

Retail and manufacturing sales down in Papua New Guinea

Welcome,

Papua New Guinea’s retailers and manufacturers alike reporting significant drops in revenue this year. How serious is the downturn?