No hard devaluation of the kina, says Bank of Papua New Guinea Governor

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With a new strategy to manage Papua New Guinea’s foreign exchange shortages expected soon, the Bank of Papua New Guinea’s Acting Governor, Elizabeth Genia, has moved to reassure business leaders that a devaluation of the country’s currency is not on the cards.

State of Emergency declared to ‘maintain and stabilise’ Papua New Guinea’s fuel supply

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In direct response to the ongoing disruption of fuel supplies in Papua New Guinea, Petroleum Minister Kerenga Kua has declared an extraordinary 30-day State of Emergency.

In brief: Puma Energy foreshadows risk of fuel shortages and other business stories

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Puma Energy head asks for help with foreign exchange to avoid fuel shortages, new World Bank report calls for reforms in PNG, Harbourside South development nears completion. Your business news in brief.

Foreign exchange shortages still biting business in Papua New Guinea

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The Bank of Papua New Guinea expects a ‘windfall’ from higher international commodity prices to alleviate some of the country’s foreign exchange shortages. However, anecdotal evidence suggests the forex situation is actually getting worse.

In brief: China to support Papua New Guinea’s Ihu Special Economic Zone and other business news

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China reaffirms its commitment to supporting the development of the Ihu Special Economic Zone, Vanimo Airport officially reopens, and Ok Tedi Mining to open a museum to highlight its history and legacy. The business news you need this week.

Rising oil price to impact Papua New Guinea, says Puma Energy Country Head

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The rising oil price will have a significant impact on Papua New Guinea this year, according to the Country Manager and Director for Puma Energy, Hulala Tokome.

In brief: new resources projects moving forward Prime Minister Marape tells resources industry and other business stories

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New resources projects moving forward, Prime Minister Marape tells resources industry, Fortescue’s CEO visits the Purari hydropower project and the ADB welcomes changes to Kumul Consolidated Holdings legislation. The business news you need today.

In brief: Link PNG and PNG Air seek to join forces and other business stories

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Link PNG reapplies to get a shareholding in PNG Air, Air Niugini announces new requirements for international travel and BSP launches new cashless product. The business news in brief.

Five questions for Puma Energy’s Hulala Tokome

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Puma Energy is Papua New Guinea’s largest fuel importer and operates the country’s only oil refinery. In this exclusive interview, Puma’s PNG Country Manager Hulala Tokome reveals how it is changing its business model in PNG.

In brief: leading PNG companies announce 2020 financial results and other business stories

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Credit Corporation, NGIP Agmark and Kina Asset Management release their 2020 financial year results. The latest business news in brief.