The CEO of Papua New Guinea’s largest superannuation fund expects 2016/17 to be another year of low growth, with a pickup from 2018 onwards. Nambawan Super’s Garry Tunstall also tells Business Advantage PNG he expects the fund will slightly increase its international investments this year.
Recently released results of some of Papua New Guinea’s major companies indicate that the economic downturn in 2015 put significant pressure on earnings. However, while energy companies suffered most, PNG’s finance sector proved resilient.
Ok Tedi mine reopens after drought causes suspension, Kumul Petroleum renegotiates UBS loan for Oil Search shares and Steamships announces 11% profit increase. Your weekly digest of the latest business news.
The Ok Tedi mine expected to start again in March, the US formally withdraws from fishing treaty, and unions call on government to honour superannuation commitments. Your weekly digest of the latest business news.
Suspension of operations at Porgera mine lifted after 16 days, consumers to wait for imported vegetables, and Woodside reiterates ‘fairness’ of Oil Search takeover offer. Your weekly digest of the latest business news.
Pacific Marine Industrial Zone construction to start this month, personnel emoluments overruns costing PNG millions, and Newcrest Mining delivers profit. Your weekly digest of the latest business news.
O’Neill indicates government may open up petrol supply market, Australia questions if vegetable import ban breaches global trade rules, and plans for an 800,000 hectare forest in Western Highlands. Your weekly digest of the latest business news.
Sewa Bay shows potential for Highlands Pacific, El Nino weather conditions to continue into 2016, and import ban on fruit and vegetables. Your weekly digest of the latest business news.
PNG Government likely to prepare mini-budget, Pacific Assurance Group urges Bank of PNG to lift restrictions, and Lihir mine temporarily ceases operations. Your weekly digest of the latest business news.
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.