In brief: Leading banker calls for more foreign exchange injection, and other business stories

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.

Papua New Guinea Investment Conference ‘a resounding success’

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.

Inside Papua New Guinea’s largest private equity fund

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.

In brief: Asian Development Bank downgrades Papua New Guinea’s growth outlook, and other business stories

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.

In brief: Papua New Guinea forex pressure to ease by the end of April says BSP CEO, and other business stories

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.

People Moves: Newcrest, Melanesian Trustee Services, New Guinea Energy

New Directors at Newcrest, a new Chairman at Melanesian Trustee Services, and a new Chairman and interim Managing Director at New Guinea Energy

Holiday Inn Express expands Port Moresby’s hotel market

Holiday Inn Express Port Moresby is the latest in a succession of new hotels opening – or set to open – in Papua New Guinea’s capital. Business Advantage PNG asks InterContinental Hotels’ Tim Pollock where this three-star property fits in PNG’s hospitality market, and discusses the challenges of running a hotel in PNG.