In brief: Foreign exchange inflows improving, and other business news

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Foreign exchange inflows improving, Moni Plus opens in Lae, and changes to boards of government-owned businesses. Your weekly digest of the latest business news.

Domestic credit in Papua New Guinea sound, say finance executives

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Businesses in Papua New Guinea may be finding it hard to get foreign exchange, but credit quality within the domestic economy remains relatively healthy. Finance executives and analysts tell Business Advantage PNG that there has been only a slight deterioration of kina-denominated credit, despite the weak economy.

Singapore emerging as a regional option for Papua New Guinea companies

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Businesses in Papua New Guinea seeking to establish a presence in the Asian region are increasingly looking at Singapore as a stepping-stone to expand their market reach or increase their shareholder base. There is also growing interest from Singapore-based businesses looking at the PNG market.

‘The new PNG cyberspace’: ecommerce set to take off in Papua New Guinea

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With Papua New Guinea’s soon-to-be-completed National Transmission Network likely to bring improved internet speeds and reliability by the end of the year more PNG companies are expected to explore the possibility of selling goods and services online. Andrew Wilkins looks at the potential for ecommerce.

Papua New Guinea’s Moni Plus to list on Singapore stock exchange

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Financial institution Moni Plus is preparing to list on the Singapore Stock Exchange. Managing Director David Kelso tells Business Advantage PNG that the company intends to expand its shareholder base and move into new markets.

In brief: PM assures students 2016 Papua New Guinea Budget will be implemented, and other business news

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O’Neill assures students 2016 Budget will be implemented, Singapore’s Jaya Holdings buys Moni Plus for K518million and Bougainville aims for mid-2019 independence vote. Your weekly digest of the latest business news.

Forex exemptions granted to Papua New Guinea insurers

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The Bank of PNG has granted exemptions to some PNG insurance companies from the tight foreign exchange restrictions, to enable the general insurers to meet their reinsurance commitments to international reinsurers.

Papua New Guinea kina set to fall further, say analysts

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Papua New Guinea’s currency, the kina, has fallen over the last year; many are predicting it will go lower. Business Advantage PNG talks exclusively to two analysts about where the currency is headed and how it will affect business conditions.

Foreign exchange controls affect Papua New Guinea business as ANZ calls for changes to kina trading range

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As Papua New Guinea’s business community continues to face foreign exchange shortages, ANZ Bank has called for a relaxation of the enforced trading band for the kina. Meanwhile, analysts say the kina is facing further downward pressure from the US dollar.

Bank of Papua New Guinea closes down unauthorised foreign exchange trading

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Papua New Guinea’s central bank has moved to stop offshore foreign banks, which don’t operate in PNG, from foreign exchange trading in the Kina.