In brief: Broadening of Papua New Guinea tax base predicted, and other business stories

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Future Budgets expected to see significant tax changes, Sovereign Wealth Fund to be finalised in 2018, and PNG Air enters freight market. Your weekly digest of the latest business news.

In brief: Tenders out for Highlands Highway upgrade, and other business stories

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Government puts out tenders for the first part of a K3 billion Highlands Highway upgrade, demand for foreign currency falls, and report that 31 per cent of log exports from illegal SABLs.

Commodity price falls creating currency volatility, says analyst

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The kina has fallen in value this year, but Papua New Guinea’s dependence on commodity exports means that it can be expected to fall further, says Rohan Fox, Lecturer and Research Fellow at the University of Papua New Guinea’s Division of Economics. He tells Business Advantage PNG that the country faces a difficult task managing the impact of sharp fluctuations in commodity prices.

In brief: Papua New Guinea government suspends vegetable import ban, and other business stories

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Ban imported vegetables suspended for three months, Mainland CEO calls for tougher bio security measures, and Oil Search confident, despite low oil prices. Your weekly digest of the latest business news.

In Brief: Papua New Guinea Budget deficit rises to 9.4% of GDP, and other business stories

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Treasury says Deficit rises to 9.4% of GDP, foreign advisers ban, and parliament passes Sovereign Wealth Fund bill. Your weekly digest of the latest business news.

In brief: Sovereign Wealth Fund & Corruption Commission legislation before parliament, and other business news

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Proposed Sovereign Wealth Fund reaches third reading stage, Air Niugini ‘on track’ for 50% sell-off, and second LNG plant to create 10,000 jobs. Your weekly digest of the latest business news.

In brief: PNG Ports seeks interest for design and construction of Motukea Island wharf, and other business stories

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Motukea Island Port project expressions of interest called for, PM dismisses ‘secret deals’ with Rio Tinto, and Star Mountains project JV launches exploration campaign. Your weekly digest of the latest business news.

Accountability the key to success of Papua New Guinea’s Sovereign Wealth Fund

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Papua New Guinea’s Parliament is likely to approve establishing the long-awaited Sovereign Wealth Fund by June, after unanimously voting for its enactment at its first reading last week.

In brief: Air Niugini expands services with Melanesian partnership, and other business stories

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Air Niugini secures agreement with Air Vanuatu and Solomon Airlines, Cue Energy rejects takeover offer, and Steamships closes Highlands Highway operations. Your weekly digest of the latest business news.

Record Budget and higher deficit feature in 2015 Papua New Guinea Budget forecasts

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The Papua New Guinea Treasurer Patrick Pruaitch has presented a record K16 billion national budget for 2015, but with an increased deficit of K2.272 billion.