Tomscoll says government must invest in agriculture if the economy is to survive, government waiting for Chinese funding of PMIZ a year after launch, and O’Neill discusses closer ties with Thailand. Your weekly digest of the latest business news.
Westpac
Westpac appoints a new Managing Director for PNG, a new Vice-Chancellor at the University of Goroka, and PNG woman elected to the International Olympic Committee
Competition Commission concerned about possible monopoly in gas sector, O’Neill to issue statement on government shareholding in BCL and ANZ Bank CEO says there may be a need for a Supplementary Budget. Your weekly digest of the latest business news.
Ok Tedi’s cashflow plus new loan to ease foreign exchange situation, feasibility study to look at water pipeline from Highlands to Queensland, and illegal fishing in Pacific costs US$660 million a year. Your weekly digest of the latest business news.
Suspension of operations at Porgera mine lifted after 16 days, consumers to wait for imported vegetables, and Woodside reiterates ‘fairness’ of Oil Search takeover offer. Your weekly digest of the latest business news.
Pacific Marine Industrial Zone construction to start this month, personnel emoluments overruns costing PNG millions, and Newcrest Mining delivers profit. Your weekly digest of the latest business news.
A new Head of Retail Banking at Westpac, an interim Manager for Defence Commercial Inc., and a new Media Consultant at the International Finance Corporation
Vanuatu’s Reserve Bank rejects sale of Westpac Vanuatu to BSP, Airlines PNG invited to fly into Samoa and ‘show cause’ notice issued over slow progress of new Lae highway. Your weekly digest of the latest business news.
Bank of South Pacific finalises purchase of Westpac’s Tonga, Samoa and Cook Islands banks; Special Economic Zone agreement in East Sepik and Santos reportedly buying into P’nyang gas field. 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’.