Two weeks of national mourning declared after Papua New Guinea’s longest-serving Prime Minister Michael Somare passed away, Ihu Special Economic Zone enters second phase of development and PNG’s exports to China.
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The latest business news from Papua New Guinea and the region
Papua New Guinea has been dealing with a ’triple crisis’, according to Ilyas Sarsenov, Country Economist for the World Bank in PNG. Speaking at a Business Advantage PNG online briefing, he said that the economy has fallen well below previous growth forecasts.
Newcrest Mining says it can ‘unlock significant value’ at Lihir, Papua New Guinea’s biggest gold mine. David James takes a closer look at a mine forecast to produce over a million ounces a year.
A surge of COVID-19 cases in Papua New Guinea, Oil Search posts major loss and NEC endorses the National Energy Authority Bill 2020. The midweek business news, curated for you by Business Advantage PNG.
Papua New Guinea is experiencing similar stresses to other economies in the Pacific region due to the impact of COVID-19. Two reports, by the Asian Development Bank and Pacific Trade Invest, highlight both the impacts and a way to recovery.
A submission to Cabinet is being prepared to clean up the Sinivit mine, 6-Mile market to open next month and Ela Beach opens its Beachside Precinct.
With its domestic services in Papua New Guinea close to pre-COVID levels, national carrier Air Niugini is now looking to increase its international services, as it continues to provide an international economic lifeline for the country.
Mineral Resources Authority to decentralise functions, new hotel in Port Moresby, and Papua New Guinea says goodbye to the submarine cable that connected it to the world for over 15 years.
Bank South Pacific executive says Papua New Guinea’s economy will recover by 2.5 per cent, Marape launches seven projects in Kainantu including the Ramu Hydro Power Station 2 and K1 million allocated for communication towers in Gulf Province.
The long-awaited signing of the Fiscal Stability Agreement between the Papua New Guinea government and Total SA has been announced. It opens to the way for the project to go forward.