ANZ revises PNG’s growth forecast upwards

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While reduced global commodity prices are having a major impact on Papua New Guinea government revenues this year, there are ‘incipient signs of a turnaround’, according to data published in the latest ANZ Pacific Quarterly, released this week.

Papua New Guinea, Timor Leste stand out in slowing Pacific economy

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Growth across the Pacific region is expected to slow slightly during 2013, with Timor Leste, Papua New Guinea and Nauru the outstanding performers, according to a mid-year review by the Asian Development Bank.

Around the world: Papua New Guinea PM’s trip to Indonesia and other international stories

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The Papua New Guinea’s PM’s is welcomed in Jakarta, Philippines airline wants to fly to PNG, Dongwon considers the Solomons, and other international stories.

Around the world: ‘Time’ magazine looks at sorcery killings and other international stories

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Time magazine looks at PNG’s sorcery killings, the Wall street looks at ExxonMobil’s ‘PNG gas grab’, submarine cables link Tonga and Vanuatu to Fiji and new PNG investment in Samoa.

Around the world: Samoa hosts conference/Marles interviewed/Air Samoa’s weighty publicity/Fiji’s constitution

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Samoa hosts conference, Marles interviewed, Air Samoa’s weighty publicity, Fiji’s constitution

Around the world: Thai visit, new Vanuatu PM, Fiji elections, weighty Samoa airlink

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he Thai Prime Minister’s visits PNG

Radio Australia interviews the CEO of the Port Moresby Chamber of Commerce David Conn on how the visit went.

Choppy seas for Pacific shipping

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Tough market conditions have led to a sudden shake-up in South Pacific shipping, with Auckland-based Reef Shipping going bankrupt and being acquired by Hawaii-based Matson. Meanwhile, the loss-making (and ship-less) Pacific Forum Line— established in 1976 by the governments of 12 Pacific Island nations—has become wholly-owned by the Government of Samoa.  

How will PNG’s and the Pacific’s economy fare in 2013?

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Business Advantage PNG spoke with the region’s three most senior bankers to get their thoughts on the year ahead. ‘There will be some slowness in the year ahead based on global economic factors, but on the whole I’m reasonably positive,’ says ANZ’s CEO Pacific, Vishnu Mohan (pictured below). ‘I think the good news for the […]

PNG spearheads regional growth

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Papua New Guinea is expected to remain the standout economy in the Pacific over the coming year, with its success having a knock-on effect on neighbouring Solomon Islands. Business Advantage summarises the outlook for the region’s larger economies. Unsurprisingly, the region’s fastest-growing economies are those whose economies are based around exporting natural resources, especially to Asia. ‘In Papua New Guinea […]