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In brief: Kumul Submarine Cable System completes connections and other business stories

25 May 2020 by Leave a Comment
The Kumul Submarine Cable lands in Bougainville , the Pasca A gas project is on its way to becoming the first offshore field development in PNG and the PNG Tourism Promotion Authority reveals the impact COVID-19 on the tourism industry. The business news your need to kickstart your week.
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Crisis management: taking care of business during Papua New Guinea’s SOE

25 May 2020 by Leave a Comment
The first in a series of Business Advantage PNG online business briefings tackled the issue of managing your business during the COVID-19 crisis. Mahesh Patel, CEO of CPL Group, and Wayne Osterberg, KPMG PNG’s Director Advisory Services, looked at the critical issues during Papua New Guinea's state of emergency.
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Papua New Guinea Treasurer details K600 million stimulus package

18 May 2020 by 2 Comments
Papua New Guinea's National Executive Council has announced that K600 million will start to flow to the health, security, agriculture, business and household sectors as a first step in the government’s K5.7 billion coronavirus Economic Stimulus Package. Treasurer Ian Ling-Stuckey said this is K100 million more than was initially planned.
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In brief: Wafi-Golpu negotiations to resume and other business stories

18 May 2020 by Leave a Comment
PNG’s Prime Minister green-lights Wafi-Golpu negotiations, Twinza’s Pasca A project is next on the government's list and Vision City Mega Mall announces rent assistance for businesses. The business news you need to kickstart your week.
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No recession for Papua New Guinea post COVID-19, says Central Bank

18 May 2020 by Leave a Comment
The Bank of Papua New Guinea in its latest Monetary Policy Statement is predicting that the Papua New Guinea economy will not go into recession this year and there will be a strong recovery next year. But it says that the COVID-19 pandemic has badly affected many of the key sectors in the economy.
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In brief: Barrick removes Porgera mine’s production from guidance and other business stories

11 May 2020 by Leave a Comment
Porgera mine output is removed from Barrick’s full year guidance, Westpac announces new division for Westpac Pacific and Australia and New Zealand agree on a 'trans-Tasman COVID-safe' travel zone. The business news you need to kick-start your week.
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War chest: oversubscribed COVID-19 bond will help Papua New Guinea fight virus

11 May 2020 by 2 Comments
The government’s COVID-19 bond was oversubscribed after the first week, according to Treasurer Ian Ling-Stuckey. He said over K1 billion was raised and that the money will help protect Papua New Guineans from the worst effects of the coronavirus pandemic.
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Headed for recession: bank and rating agencies’ bleak forecast for Papua New Guinea in 2020

6 May 2020 by Leave a Comment
Economists are forecasting a recession in PNG in 2020 as the country struggles to deal with the global crisis caused by the outbreak of the COVID-19 virus. The ratings agency Standard & Poor’s has also downgraded the country’s debt.
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Porgera fallout: Prime Minister moves to reassure Papua New Guinea’s miners

29 Apr 2020 by 7 Comments
Prime Minister James Marape moves to allays concerns among Papua New Guinea's mining companies following the decision not to renew the special mining lease for the Porgera gold mine. Meanwhile, the mine's temporary closure is already affecting local business.
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