Sovereign bond issue will ‘test’ Papua New Guinea’s market access, says Standard & Poor’s

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The Papua New Guinea government has begun spruiking its sovereign bond issue with a series of meetings with investors in Singapore, Hong Kong, London and the US, led by Treasurer Charles Abel. However, while Standard and Poor’s has given the issue a ‘B’ stable rating, others say the government may have to offer a premium to attract investors.

Standard & Poor’s lowers Papua New Guinea’s rating

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S&P Global Ratings has lowered its long-term foreign and local currency sovereign credit ratings on Papua New Guinea (PNG) to ‘B’ from ‘B+’, but it believes the outlook is ‘stable’. The agency points to bigger than expected fiscal deficits because of ‘a loss of revenue and reconstruction costs after a recent earthqu

Papua New Guinea’s banks face high economic risks, reflecting debt and resource reliance, says ratings agency, S&P Global

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The economic risks faced by the three main commercial banks in Papua New Guinea are very high, says ratings agency S&P Global Ratings. But Associate Director Andrew Mayes tells Business Advantage PNG, credit risk is ‘well-managed’.

Papua New Guinea interest rates likely to remain stable and inflation to fall, say research groups

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Interest rates are likely to remain at 6.26 per cent for the rest of 2017, and inflationary pressures are expected to moderate, according to the latest economic analysis by Singapore-based BMI Research, a unit of Fitch Group.

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.

Papua New Guinea business sees light at the end of the tunnel

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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.

In brief: Santos rejects takeover bid as ‘opportunistic’, and other business stories

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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.

Ratings agency revises Papua New Guinea outlook down, but maintains rating

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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.

In brief: Woodside Petroleum talks with National Petroleum Co after Oil Search takeover rejected, and other business stories

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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.

In brief: US power and construction company eyes Papua New Guinea as next location, and other business news

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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.