Analysis: Papua New Guinea companies using rationalisation to adapt to weaker economic conditions

The sluggish Papua New Guinea economy is triggering a bout of rationalisation, two of the recent examples being in the banking and manufacturing sectors.

In brief: Steamships sells Laga to Paradise, and other business stories

Steamships sells Laga to Paradise, Credit Corp profit falls, and Papua Niugini Freezers begins exports to Solomon Islands. Your weekly digest of the latest business news.

In brief: Oil Search says there is ‘distribution’ problem with payouts, and other business news

Oil Search acknowledges problems with payouts, Frabelle denies shut down and the ICCC starts legal proceedings against Steamships. Your weekly digest of the latest business news.

In brief: Employment Act review underway, and other business stories

Employment and IR laws under review, Police Commissioner appeals for end to blockade of Highlands Highway, and new Agriculture Minister promises to pursue K20m for coffee borer repair. Your weekly digest of the latest business news.

In brief: Chinese companies win bid to build Ramu 2 power project, and other business stories

Two Chinese companies to build Ramu 2 power project, 95 per cent of logs sent to China, and Lae business leaders welcome ADB loan for key roads. Your weekly digest of the latest business news.

Port Moresby’s remarkable dining boom

A boom in new restaurants is improving the quality and variety of dining options in Papua New Guinea’s capital, Port Moresby, as never before, observes Andrew Wilkins.

Steamships MD Peter Langslow sees future in property development (Part 2)

In the second of a two-part series, Steamships Managing Director Peter Langslow tells Business Advantage PNG that his diversified company is looking to upgrade its manufacturing activities, upgrade more hotels and is planning more property development in Papua New Guinea.

How Steamships is preparing for the next upturn (Part 1)

Despite 2016 being ‘a relatively quiet time’, Steamships Managing Director Peter Langslow, in the first of a two part series, says his diversified company is becoming more efficient and continuing to invest in its operations in PNG in preparation for the next upturn.

Why many Papua New Guinea companies become conglomerates

Conglomerates have become rare in developed economies; the strategy of diversifying across different industry sectors tends to be punished by investors who prefer specialized players. But in Papua New Guinea industry diversification is commonly used as a way to grow.

In brief: Oil Search and ExxonMobil buy gas licences in Gulf, and other Papua New Guinea business stories

Oil Search and ExxonMobil buy into gas licences in Gulf of Papua, Sir Mick Curtain, founder of Curtain Bros, dies, and trade disagreement with Fiji resolved. Your weekly digest of the latest business news.