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.
Chief Secretary indicates SABL leases will be returned soon, and Woodside CEO says Oil Search bid his ‘full price’. Your weekly digest of the latest business news.
As Papua New Guinea’s business community continues to face foreign exchange shortages, ANZ Bank has called for a relaxation of the enforced trading band for the kina. Meanwhile, analysts say the kina is facing further downward pressure from the US dollar.
Major road works in Papua New Guinea are now outsourced to the private sector, under a design-and-build model. The result, says the Secretary of the Works Department David Wereh, is improved performance.
Two new milestones on the way to boosting electricity access to 70 per cent of Papua New Guineans households are due this month. Business Advantage PNG speaks with Roberto Aiello, Senior Energy Specialist with the World Bank, which is supporting the PNG government with its energy development plans.
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.
LNG focus for Oil Search, ANZ warns on debt risk, and Barrick plans to offload Porgera mine. Your weekly digest of the latest business news.
Elk-Antelope arbitration hearing in London completed, fuel supplies to return after roadblocks eased, and Santos delivers sales records. Your weekly digest of the latest business news.
Papua New Guinea has fallen two places in the latest World Bank Group assessment of the ease of doing business in world economies, released last week.
The extension project at Lae Port reaches a conclusion, PanAust feasibility study at Freida River on target, National Executive Council endorses PNG Sovereign Wealth Fund. Your weekly digest of the latest business news.