BSP Financial Group (BFL) has responded to allegations made by the Bank of Papua New Guinea’s Financial Analysis and Supervision Unit (FASU) that it was in breach of the country’s anti-money laundering laws. Meanwhile, the Bank of PNG’s Governor has distanced the central bank from the allegations made by its own unit.
In brief: Freeport to acquire assets in Papua New Guinea and other business stories
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12 Jul 2021 by 1 Comment
Potential new owner for the Yandera copper project, proposed levy for balsa wood and BSP Financial Group halts trading on the ASX amidst accusations of breaches to anti-money laundering laws. The business news in brief.
Registrations open for the 2021 Papua New Guinea Investment Conference
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7 Jul 2021 by Leave a Comment
Registrations are now officially open for the 2021 Business Advantage Papua New Guinea Investment Conference and the provisional program has been released. The digital conference will take place from 7 to 9 September 2021.
People moves: Deloitte PNG, Credit Corp, Steamships, Coffee Industry Corporation
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7 Jul 2021 by Leave a Comment
Deloitte PNG announces the names of its two new partners, Credit Corp’s Chief Risk Officer bids adieu, changes to Steamships board and new board appointed for the Coffee Corporation Industry.
In brief: More than a billion kina for ‘maritime infrastructure’ and other business stories
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7 Jul 2021 by Leave a Comment
PNG Ports announced a K1.1 billion partnership with Australia for maritime infrastructure, Geopacific Resources gets funding for Woodlark Island gold mine and new training program for SMEs. The business news in brief.
World Bank increases support for Papua New Guinea
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30 Jun 2021 by 3 Comments
The World Bank has approved US$100 million (K352 million) in concessional funding to support Papua New Guinea in its response to COVID-19, and ‘lay important foundations for a sustainable recovery’. The funding will not be without risk, however.
In brief: PNG Power workers demand clarity and other business stories
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30 Jun 2021 by Leave a Comment
PNG Power workers protest lack of consultation and transparency, China delivers 200,000 doses of the Sinopharma vaccine to Papua New Guinea and Kina Asset Management Limited presents its annual report.
People moves: PNG Power, Credit Corp PNG, PNG Defence Force, Oil Search, Newcrest Mining, Paradise Foods
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30 Jun 2021 by Leave a Comment
PNG Power Managing Director resigns, Credit Corporation PNG announces changes to its board, new appointment at PNG Defence Force, changes at Oil Search board, Newcrest Mining welcomes a new Director and Paradise Group CEO steps down.
In brief: BSP refutes allegations of breaches to anti-money laundering laws and other business stories
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23 Jun 2021 by Leave a Comment
BSP Financial Group Limited responds to accusations, Air Niugini temporarily suspends flights to Cairns and Memorandum of Understanding signed to boost green finance initiatives.
People moves: Employers Federation of PNG
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23 Jun 2021 by Leave a Comment
The VP of the Employers Federation of PNG says goodbye.
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