Fitch Solutions downgrades growth projections for Papua New Guinea, St Barbara Ltd unveils promising feasibility study for its Simberi gold mine, and Kina Bank introduces fee-free account. The news in brief.
Lower demand sees Papua New Guinea’s agricultural exports fall
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27 Apr 2021 by 1 Comment
The latest figures from the Bank of Papua New Guinea reveal the negative impact of the global pandemic on PNG’s agricultural sector. Exports of all the country’s major agricultural commodities fell in the 12 months to September 2020, although the falls were partly offset by improved prices in some cases.
Papua New Guinea’s Parliament adjourned; and vote of no confidence avoided
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26 Apr 2021 by 1 Comment
With increasing numbers of COVID-19 cases in Papua New Guinea, Prime Minister James Marape says it’s ‘no time to play politics’ and has adjourned Parliament until 10 August.
In brief: Link PNG and PNG Air seek to join forces and other business stories
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26 Apr 2021 by Leave a Comment
Link PNG reapplies to get a shareholding in PNG Air, Air Niugini announces new requirements for international travel and BSP launches new cashless product. The business news in brief.
In brief: NCSL’s plans to become ‘best electronic bank’ in Papua New Guinea and other business stories
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21 Apr 2021 by Leave a Comment
NCSL talks about its plans to become an ebank, Papua New Guinea’s Treasurer, Ian Ling-Stuckey reveals potential second economic stimulus package for MSMEs and changes in taxation collection in Bougainville. The business news in brief.
People moves: Teachers Savings and Loans Society
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21 Apr 2021 by Leave a Comment
New Non-executive Directors join the Teachers Savings and Loans Society (TISA) Community Finance Ltd.
Moody’s downgrades Papua New Guinea’s B2 credit rating to ‘negative’
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21 Apr 2021 by Leave a Comment
International credit rating agency Moody’s has changed its outlook on the Government of Papua New Guinea’s B2 rating from ‘stable’ to ‘negative’. What’s behind the move and what does it mean?
Papua New Guinea Government demands make Pasca A gas project ‘unfinanceable’, says Twinza Oil
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20 Apr 2021 by 1 Comment
The anticipated signing of a gas agreement for Pasca A, Papua New Guinea’s first undersea gas project, has stalled at the eleventh hour. Developer Twinza Oil says it will stand down its project team due to a last-minute State request it claims would render the project ‘unfinanceable’.
In brief: PNG Tourism Promotion Authority reveals exit survey numbers and other business stories
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19 Apr 2021 by Leave a Comment
Papua New Guinea’s Tourism Promotion Authority reveals bleak outcome for 2020, Kumul Petroleum Holdings gets three petroleum retention licenses and new equity holders for PNG LNG. The business news in brief.
In brief: Palm oil producers oppose fertiliser tax and other business stories
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14 Apr 2021 by Leave a Comment
Palm oil sector issues warning on fertiliser tax, the Ihu Special Economic Zone is launched, and SME loans total K20 million. Your midweek news in brief.
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