Papua New Guinea’s Mid-Year Economic and Fiscal Outlook shows inflation slowing, Airbus wins race to replace Air Niugini fleet, while Securities Commission revokes Melanesian Trustee Services Limited’s trustee license. Your business news in brief.
Melanesian Trustee Services
Construction milestone for PNG’s tallest building, renewed support for fisheries training and PNG launches legal action in Australia. Your weekly digest of the latest business news.
BSP wants another US$100-200m foreign exchange injection, Air Niugini expects local business benefits from Rugby League games, and gold refinery to expand. Your weekly digest of the latest business news.
Leading financiers have called for better international marketing of the country’s financial system and assets. They told the Business Advantage Papua New Guinea Investment Conference, that it is an important step towards creating more mature financial markets.
The Business Advantage Papua New Guinea Investment Conference was held last week in Sydney, successfully showcasing the nation’s potential as an investment destination and canvassing different views from the business community about the opportunities and challenges. A clear picture of the country’s—and the Pacific region’s—great untapped potential emerged.
Kennedy Wemin, the Chief Executive of Melanesian Trustee Services limited (MTSL), Trustee and Interim Manager of Papua New Guinea’s unit trust fund, Pacific Balanced Fund (PBF) tells Business Advantage PNG that the difficult economic conditions create opportunities as well as challenges. He outlines some of the fund’s future options.
Bank of Papua New Guinea negotiating with ‘partners’ about foreign exchange, Oil Search to address competition issues and Travel Air to resume operations. Your weekly digest of the latest business news.
Papua New Guinea’s growth forecast downgraded by Asian Development Bank, Bank of PNG says growth this year will partly be driven by non-mineral sector activity, plus claims PNG’s global corruption rating will depend on government commitment to accountability. Your weekly digest of the latest business news.
Ok Tedi’s cashflow plus new loan to ease foreign exchange situation, feasibility study to look at water pipeline from Highlands to Queensland, and illegal fishing in Pacific costs US$660 million a year. Your weekly digest of the latest business news.
New Directors at Newcrest, a new Chairman at Melanesian Trustee Services, and a new Chairman and interim Managing Director at New Guinea Energy
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