APEC Study Centre for improving innovation in Papua New Guinea to open

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The PNG APEC Study Centre is to be officially opened next week at the National Research Institute. According to Dr Thomas Webster, Professorial Research Fellow at the NRI, the aim of the centre is to improve the understanding and enabling of innovation in Papua New Guinea.

Releasing customary land for housing essential as state land runs out, says NRI

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House prices still remain out of reach for most Port Moresby residents, according to a report by the National Research Institute. It says that changing the approach to customary land has become necessary because state land is running out.

The final outcome of the Papua New Guinea elections may be drawn out

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Vote counting in the Papua New Guinea general election is continuing, with the results yet to be announced. The final shape of the government will take time to emerge.

In brief: Tenders out for Highlands Highway upgrade, and other business stories

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Government puts out tenders for the first part of a K3 billion Highlands Highway upgrade, demand for foreign currency falls, and report that 31 per cent of log exports from illegal SABLs.

In brief: Sir Michael Somare retires after 49 years in politics, and other business stories

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Founding Prime Minister retires, new US Embassy to be built, NRI questions land allocation for petroleum park. Your weekly digest of the latest business news. Papua New Guinea’s longest serving MP and first Prime Minister, Grand Chief Sir Michael Somare, has bowed out of politics after 49 years. The former Prime Minister said at an NBC Press Club interview […]

In brief: Agriculture Minister calls for annual 10% Budget investment in sector and other business stories

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Tomscoll says government must invest in agriculture if the economy is to survive, government waiting for Chinese funding of PMIZ a year after launch, and O’Neill discusses closer ties with Thailand. Your weekly digest of the latest business news.

Opinion: Business development in Papua New Guinea hampered by ‘man-made constraints’ says Charles Yala

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Man-made constraints to business are the real obstacles to business development, according to Dr Charles Yala, the Director of the National Research Institute. In an address to the Australia-PNG Alumni Conference, Dr Yala said the country’s leaders need to ‘think outside the box’ and harness ‘our natural beauty and landscape’.

Demand for affordable housing sees price rises, according to Papua New Guinea property survey

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Demand for residential houses among the growing urban population, especially in Port Moresby, has increased but the supply of quality and affordable houses has seen prices rise ‘exhorbitantly’, according to a new survey of the housing market by consultancy Niugini Land and Property.

Higher government spending could reduce Papua New Guinea’s debt burden, says economist Satish Chand

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Papua New Guinea’s debt levels relative to the size of its economy could actually go down if the government increased spending, according to Satish Chand, Professor of Finance in the School of Business at the University of New South Wales. Mounting an argument that goes against conventional wisdom, he contends that as long as the government investment is well managed and receives a strong return, the long term benefits will outweigh the short term risks.

In brief: Total SA to start construction of LNG plant in 2018 and other business stories

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Total SA Chairman says company is planning to commence construction of LNG plant in 2018, Ramu NiCo ordered to stop operating nickel mine and Harmony Gold reports ‘continuing exploration success.’ Your weekly digest of the latest business news. The Chairman and Chief Executive Officer of oil and gas company Total SA, Patrick Pouyanné, says the company is planning to […]