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 […]

Is more affordable housing on the way in Papua New Guinea?

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With the Papua New Guinea Government highlighting the need for more affordable housing in the country, not-for-profit organisation, Community Housing, believes it has the solution.

Foreign workers: who’s coming to Papua New Guinea and from where?

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The number of foreign workers coming to Papua New Guinea is growing, with an annual net gain of up to 34,000 since 2007. Carmen Voigt-Graf reports that on recent growth rates, The Philippines will soon overtake Australia as the main source of foreign workers.

In brief: relocation of Port Moresby Port to Motukea Island site backed by review, and other business stories

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Motukea Island a ‘suitable site’ for Port relocation, majority of Papua New Guinea SMEs in retail, and PNG first Pacific nation to join alliance. Your weekly digest of the latest business news.

People moves: Santos, National Research Institute, PNG Rugby League

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A new Chairman for Santos, the Director of the National Research Institute to stand down, the CEO of the PNG Rugby League quits.

In brief: Newcrest output at Lihir ‘below expectations’ despite improvement, and other business stories

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Production issues hit Newcrest, Digicel launches cloud-based product, and Mitsui delivers PNG LNG carrier. Your weekly digest of the latest business news.

In brief: Share restructuring and recapitalisation at Airlines PNG, and other business stories

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Share buyback and recapitalisation at Airlines PNG, lucrative tuna deal signed with United States, and Digicel in talks over buying shares in EMTV. Your weekly digest of the latest business news.

In brief: Ratings agency warning on debt and other business news

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Moody’s warns debt could prompt downgrade, tax review committee considers capital gains tax and an EU warning to curb illegal fishing in PNG. Your weekly digest of the latest business news.