Mastercard is working with its banking partners to introduce smart card chip technology and contactless payments to Papua New Guinea (PNG). Craig Kirkland, Director of Pacific Islands for Mastercard talks to Business Advantage PNG about this technology and why PNG is an important market for the company.
Papua New Guinea’s 2018 Budget signals a shift away from dependence on the resources sector
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29 Nov 2017 by Leave a Comment
The Papua New Guinea government has handed down its 2018 Budget. It indicates that the government is looking to focus more on the non-mining sectors of the economy.
O’Neill tells Papua New Guinea resources sector there will be no new taxes
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29 Nov 2017 by Leave a Comment
Papua New Guinea’s Prime Minister, Peter O’Neill, told the PNG Mining and Petroleum Conference yesterday that there would be no new taxes for the resources sector. Meanwhile, presentations by the major industry players suggest the next 12 months will be critical in determining the future growth of the sector.
Oil and gas prices strong: a monthly review of Papua New Guinea’s commodities and financial markets
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29 Nov 2017 by Leave a Comment
Oil and gas prices are up and copper is also strong. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets comes to you from this week’s PNG Mining and Petroleum Conference in Port Moresby.
Australian government commits to building an undersea telco cable to Port Moresby
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17 Nov 2017 by 3 Comments
The Prime Minister of Australia, Malcolm Turnbull and the Prime Minister of Papua New Guinea, Peter O’Neill have announced they will be working together to lay a new undersea high speed telecommunications cable from Australia to Port Moresby. The move is expected to contribute to closer economic integration between the two neighbouring countries.
Tax amnesty relief for business in Papua New Guinea
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15 Nov 2017 by Leave a Comment
The Commissioner-General of the Internal Revenue Commission (IRC), Betty Palaso, has announced a temporary tax amnesty for business in Papua New Guinea. Penalties that would normally be imposed by the IRC on late lodgement of annual tax returns and late payments will not be applied for the rest of 2017.
Oil Search to triple output in a decade, says Botten
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15 Nov 2017 by Leave a Comment
Oil Search may look to list its power business on the Papua New Guinea stock exchange, Peter Botten, Managing Director of Oil Search tells Business Advantage PNG. He says that in 10 years he hopes the company’s production will have tripled.
Port Moresby Governor to consider offering settlement residents title
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14 Nov 2017 by 1 Comment
The National Central District has launched an urban development program, which will run into the middle of next year. Governor of Port Moresby, Powes Parkop, said he will be looking to upgrade Port Moresby’s settlements and explore ways to offer residents title.
Airways Hotel GM says APEC will boost whole hotel sector in Papua New Guinea
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8 Nov 2017 by Leave a Comment
The General Manager of Port Moresby’s Airways Hotel, Sushil Gordon, tells Business Advantage PNG that increased competition will be a boost to Papua New Guinea’s whole hospitality sector. He says next year’s APEC meeting represents a great opportunity.
Investment Promotion Authority figures show keen interest in forestry in Papua New Guinea
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31 Oct 2017 by 4 Comments
Proposals for investment in Papua New Guinea’s forestry sector are almost as high as in its mining and petroleum sector, according to figures from the Investment Promotion Authority. The IPA has also flagged a crackdown on compliance.
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