NASFUND’s new Chairman, Australia appoints Consul-General in Lae, EMTV loses CEO, a new NZ High Commissioner, Japan’s Ambassador leaves, new Port Moresby General Hospital CEO, inaugural chairman of Porgera Chamber of Commerce, new board member at Geopacific Resources.
Papua New Guinea ready to seek sovereign bond funds, Air Niugini affected by economic slowdown, Qantas begins daily Brisbane-Port Moresby service. Your weekly digest of the latest business news.
The governor of the Bank of Papua New Guinea, Loi Bakani, says that the shortage of foreign exchange is ‘an issue based on supply and demand of foreign currency for kina.’ One way to increase demand for a nation’s currency is to modernise the bond markets. A World Bank report has looked at some options.
Global and domestic factors have combined to slow Papua New Guinea’s economy. However, as Andrew Wilkins discovers, the Pacific nation’s business leaders are still confident about its future prospects.
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.
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.
Kina Group is set to become Papua New Guinea’s fourth retail bank, when it takes over the Malaysian-owned Maybank (PNG) in late July, ahead of a possible stock market listing.
Motukea Island Port project expressions of interest called for, PM dismisses ‘secret deals’ with Rio Tinto, and Star Mountains project JV launches exploration campaign. Your weekly digest of the latest business news.
PNG Bank governor says shortage of forex affecting businesses, interest rates comparatively ‘very high’, and ANZ identifies small inflation rise. Your weekly digest of the latest business news.
A new MD for Ok Tedi Mining, appointees to the new PNG Rubber Board, an acting CEO for the PNGRFL and others appointments