High debt and deficit levels are why the ratings agency S&P has kept its Papua New Guinea country rating at B+/B, with a negative outlook. S&P Director, Craig Michaels, tells Business Advantage PNG higher commodity prices are the key to lifting the rating.
The big mover this month was the cocoa price which was up 6.6 per cent for the month according to Kina Securities. Otherwise commodity prices moved sideways or weakened. Business Advantage PNG’s monthly overview of commodity and financial markets.
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 spite of the talk about an economic slowdown in 2016, Papua New Guinea’s capital, Port Moresby, is a city where plenty is still happening as 2015 comes to a close. Business Advantage International’s Andrew Wilkins reflects on recent discussions with Papua New Guinea business leaders.
Wealthy royal families’ bid for Santos rejected, the high cost of domestic violence to business, and poor economic news prompts fall in business confidence. Your weekly digest of the latest business news.
International ratings agency Standard and Poor’s has revised its outlook for Papua New Guinea from ‘stable’ to ‘negative’. While maintaining PNG’s B+/B rating, S&P’s Director of Sovereign & Public Finance Ratings explains to Business Advantage PNG why there’s a one-in-three chance the rating could be lowered in the next 12 months.
Woodside talks to National Petroleum Company, ratings agency expects oil prices to fall further, and illegal logging continues, says Oro Governor, Your weekly digest of the latest business news.
Pernix Group looks to expand into Papua New Guinea, European Investment Bank invited into PNG and Finance Minister says LNG is not ‘a waterfall’ of money.
Business endorses new Police Commissioner, Kumul Flyover opens, and Oil Search chief says low prices are here to stay. Your weekly digest of the latest business news.
Ratings agency Standard & Poor’s says PNG’s banks operate in a ‘high risk’ environment, with regulation and supervision ‘comparatively lenient’.