ASX-listed gold producer, St Barbara Ltd, which owns the Simberi mine in Papua New Guinea’s New Ireland, has posted a full-year net loss of AUD$192 million (K409 million), due primarily to a lower gold price.
Solomon Islands
The Bank of Papua New Guinea warns of economic risks, while Brazil provides some pointers to the employment of more women in the workforce.
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.
Social media is increasingly influencing Papua New Guinea politicians; a warning that government revenues may fall amid a resources downturn; and more.
The Papua New Guinea Government plans to have a trade representative located in Jakarta from next year, as it seeks to boost trade and business links with neighbouring Indonesia.
Although gross domestic product (GDP) growth halved last year in the Solomon Islands, the Central Bank of the Solomon Islands’ (CBSI) 2012 annual report, released last week, makes encouraging reading.
The global media revolution has arrived in Papua New Guinea, with local television company EMTV transforming from a traditional broadcaster into one in step with the digital age.
Papua New Guinea’s gross domestic product is set to increase by 5.5% in 2013, according to the Asian Development Bank’s latest Pacific Economic Monitor, released last week. This is compared to growth of 9.2% in 2012.
The four-year feasibility study on Solomon Islands’ Tina River hydro dam project on Guadalcanal Island is nearing completion and a final report will go to government in September this year.
Economic growth in Solomon Islands is expected to rise at a moderate four to five percent this year, a little lower than the 5.5% growth rate in 2012.