In Brief: Papua New Guinea Budget deficit rises to 9.4% of GDP, and other business stories

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Treasury says Deficit rises to 9.4% of GDP, foreign advisers ban, and parliament passes Sovereign Wealth Fund bill. Your weekly digest of the latest business news.

In brief: Share restructuring and recapitalisation at Airlines PNG, and other business stories

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Share buyback and recapitalisation at Airlines PNG, lucrative tuna deal signed with United States, and Digicel in talks over buying shares in EMTV. Your weekly digest of the latest business news.

People moves: Kina Petroleum, MRDC, Marengo Mining and PIPSO

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A new board member at Kina Petroleum, a new chairman of the Mineral Resources Development Corp., and other new appointments.

PM O’Neill flags major restructure of Papua New Guinea’s state-owned assets

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Papua New Guinea’s Prime Minister, Peter O’Neill, has confirmed the government will restructure the country’s interests in oil, gas and mining resources into two separate mining and petroleum companies. All other state-owned enterprises will be absorbed into a third holding company.