Paradise Foods’ new Group CEO plans to double the business

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Paradise Foods Limited is the oldest food manufacturer in Papua New Guinea and its new Group CEO, James Rice, is tasked with ensuring the company is number one across its food categories. In this exclusive interview with Business Advantage PNG, Rice shares his plans to double the business.

In brief: Papua LNG project to put Papua New Guinea as leading LNG exporter, and other business stories

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Forex turnover more than K4b in October, call for joint PNG-Australia coastguard initiative, and one kina chocolate bar on sale locally. Your weekly digest of the latest business news.

In brief: Air Niugini launches new direct routes, and other business news

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Air Niugini launches new direct route, Total wins contract for Lihir Gold Mine, and a new state-owned-enterprise is formed. Your weekly digest of the latest business news.

In brief: US, Australia and Japan announce new infrastructure fund for the Pacific, and other business stories

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Galip nut industry taking off, Horizon Oil reports strong quarter, and two online marketplaces launched. Your weekly digest of the latest business news.

Analysis: Papua New Guinea companies using rationalisation to adapt to weaker economic conditions

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The sluggish Papua New Guinea economy is triggering a bout of rationalisation, two of the recent examples being in the banking and manufacturing sectors.

In brief: Steamships sells Laga to Paradise, and other business stories

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Steamships sells Laga to Paradise, Credit Corp profit falls, and Papua Niugini Freezers begins exports to Solomon Islands. Your weekly digest of the latest business news.

Papua New Guinea’s vanilla sector success relies on education and regulation

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PNG was the second-largest global grower of vanilla last year, producing about 250 metric tonnes, but leading processor and exporter, Paradise Spices, is calling for regulation of the sector to resolve supply and quality issues. Karina Makori, the company’s General Manager tells Business Advantage PNG inflated prices have halted production of vanilla products for the past nine months.

People moves: Paradise Foods, Frabelle Fishing Corp

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A new CEO for Paradise Foods, a new General Manager at Frabelle

People moves: Paradise Foods, Bank of Papua New Guinea, KPMG, NASFUND

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Managing Director of Paradise Foods steps down, Bakani re-appointed as Central Bank Governor, KPMG appoints a new Managing Partner, four new NASFUND executives.

PNG Manufacturers look to the future

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There is no question that Papua New Guinea’s manufacturers-which account for about 9% of the country’s GDP – have been caught up in the general downturn in the country’s economy, with a combination of lower investment in the mining and petroleum sectors, lower commodity prices and a stronger currency slowing growth and reducing domestic demand.