In brief: Oil Search says there is ‘distribution’ problem with payouts, and other business news

Oil Search acknowledges problems with payouts, Frabelle denies shut down and the ICCC starts legal proceedings against Steamships. Your weekly digest of the latest business news.

People moves: Bank South Pacific, Bougainville Referendum Commission, 2019 Asia Pacific Business Forum

Ni-Vanuatu to head up BSP operations in Port Vila, former Irish PM nominated to head the Bougainville Referendum Commission, new Chair of the 2019 Asia Pacific Business Forum

Five questions to economist Rohan Fox on Papua New Guinea’s exchange rates and APEC 2018

Papua New Guinea needs greater flexibility in the exchange rate, Rohan Fox, Lecturer and Research Fellow at the University of Papua New Guinea’s Division of Economics, explains to Business Advantage PNG. He believes APEC will be a boost to the economy but not enough to spark a general recovery.

In brief: Maru wants Papua New Guinea-Fiji trade dispute resolved by October, and other business stories

Trade Minister Richard Maru wants trade issues with Fiji resolved this month, UBS buys into Kina Securities, and ANZ offers debit cards in PNG.

US$200 million in finance for private sector climate change projects

Climate change is the ‘single greatest threat to the livelihoods, security and wellbeing of the peoples of the Pacific’, according to the Pacific Islands Forum Secretariat (PIFS). But the region is showing leadership and there are opportunities for Papua New Guinea to gain access to climate finance.

Chinese business delegation in Papua New Guinea to examine investment opportunities

Thirty-six executives from major Chinese energy, forestry, fisheries, tourism and construction businesses are in PNG this week to look for investment and development opportunities. Pacific Trade Commissioner David Morris is leading the delegation. This week’s trip to PNG reflects ‘very strong’ Chinese interest in supporting infrastructure development and in PNG’s capacity to supply China with goods […]

In brief: Oil Search fends off takeover offer after Woodside shelves bid, and other business stories

Woodside drops takeover bid for Oil Search, coffee pulper machine installed for smallholders in Jiwaka Province, and market conditions force Hides Gas Development Company to cut workforce. Your weekly digest of the latest business news.

In brief: Santos aims to improve balance sheet by raising funds, and other business stories

Capital raising launched by Santos, Australia to provide drought relief for Papua New Guinea and National Fisheries Authority secures South Korean contract. Your weekly digest of the latest business news.

Meet the Pacific’s new man in Beijing

David Morris is the Pacific’s new Trade Commissioner to Beijing. He talks to Business Advantage PNG about the changing nature of China’s economy and the trade and investment opportunities for the Pacific Islands that can arise from being part of China’s new ‘Maritime Silk Road’.

In brief: Power workers delay strike action for a week, and other business stories

Power workers give management another week to respond to pay claims, the People’s Micro Bank to get a full banking licence, Sime Darby withdraws from takeover talks with NBPOL. Your weekly digest of the latest business news.