Future Budgets expected to see significant tax changes, Sovereign Wealth Fund to be finalised in 2018, and PNG Air enters freight market. Your weekly digest of the latest business news.
National Development Bank
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.
Competition concerns prompt Total to build separate LNG pipeline, NICTA chief admits PNG has no cyber attack defence mechanisms, and BCL to step up community engagement. Your weekly digest of the latest business news.
Fiji’s trade Minister lifts ban on PNG food products, K65 million sought to contain coffee berry borer, and O’Neill warns of crackdown on companies not paying taxes. Your weekly digest of the latest business news
The greatest challenge facing Papua New Guinea’s financial system and businesses is to establish saving in the country’s mostly unbanked population. That is the message from three of the country’s top bankers.
Papua New Guinea’s top bankers discuss the kina, foreign exchange shortages, finance for business and the future of banking services.
John Momis told to ‘carefully consider’ equity offer from Rio Tinto, ExxonMobil declines to confirm or deny InterOil bid, and Supreme Court orders parliamentary vote on no confidence motion. Your weekly digest of the latest business news.
Trade, Commerce and Industry Minister Richard Maru says he is compiling a reserve list of businesses that may only be owned and operated by PNG nationals. While Maru has given no timeline for the reintroduction of the Reserve List, he says existing businesses will be bought out at the current value.
The launch of the country’s first master plan to develop the Small and Medium Sized Enterprise (SME) sector reflects a growing acknowledgment by Cabinet ministers that they need to grow sectors other than mining.
Duma to review SOEs before privatisation process, Santos reported to be selling PNG LNG stake, KCH receives study on proposed 1800MW hydro dam. Your weekly digest of the latest business news.