Papua New Guinea businesses donate K80 million in cash and aid for earthquake relief

Papua New Guinea businesses have donated at least K80 million in cash and equipment to aid February’s earthquake relief program.

In brief: Public debt stands at 31.9 per cent of GDP, and other business stories

Total public debt stands at K23.5 billion, review of gun licences for private security firms likely, and People’s Micro Bank to be commercialised later this year. Your weekly digest of the latest business news.

In brief: Tourism brings in only US$105 million in the first half of 2017, and other business stories

Tourism brings in only US$105 million in the first half of 2017, Lae businesses downturn about 30 per cent, says business leader, and SP Hunters win. Your weekly digest of the latest business news.

Brand poll shows that well-established companies dominate in Papua New Guinea

A new online survey by Business Advantage PNG to identify Papua New Guinea’s most recognisable local brands suggests that there are four stand out companies. So, what makes brands ‘stick’ with consumers?

Lae’s Unitech undergoes ‘cultural change’ to produce better qualified students

Albert Schram, Vice-Chancellor of the University of Technology (Unitech) in Lae, tells Business Advantage PNG that the institution is undergoing a broad ‘cultural change’. The aim is to create closer ties with business in order to produce better qualified graduates.

In brief: PanAust revises up its estimate of the Frieda River project, and other business news

Value and risk profile for Frieda River project improves, claims excess kina is resulting in more domestic investment, and corruption estimated to have cost Papua New Guinea K1.5 billion last year. Your weekly digest of the latest business news.

Trukai to expand its Papua New Guinea rice production despite uncertainty, says CEO Worthington-Eyre

With the Papua New Guinean Government remaining tight-lipped on progression of its proposed rice policy, Trukai Industries is going ahead with the expansion of its rice business, Chief Executive Officer Greg Worthington-Eyre tells Business Advantage PNG.

In brief: Foreign currency issues continue to cause problems, and other business stories

Foreign currency issues continue to cause problems, profit announcements for Nambawan Super and Bank South Pacific and InterOil acquisition finalised. Your weekly digest of the latest business news.

In brief: Further delay in start of Pacific Marine Industrial Zone, and other business stories

China wants extra loan to fund PMIZ, unions concerned about housing tax on employees, Bank PNG questions accuracy of IMF economic report. Your weekly digest of the latest business news.

Rice policy may end our rice production in Papua New Guinea, says Trukai CEO

The effect of the government’s proposed rice policy will basically ‘shut us down’, says Greg Worthington-Eyre, CEO of the country’s main rice importer and producer, Trukai Industries. His warning follows a prediction of price rises by the Independent Consumer and Competition Commission, and a warning by the Australian government the policy could breach WTO rules.