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Banking and finance

Papua New Guinea economy stabilising, but financial stresses remain says Bank of PNG

5 Jun 2017 by 1 Comment
The Papua New Guinea economy is gradually stabilising as it adjusts to the impact of the PNG LNG project, according to the Bank of PNG's latest Monetary Policy Statement. Real economic growth is predicted to be 2.8 per cent, the kina has been steady, and the 2016 balance of payments was in surplus. But there are financial stresses, as David James reports.
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Commodities stable but LNG weak: a monthly review of Papua New Guinea’s commodities and financial markets

31 May 2017 by Leave a Comment
Commodity prices were reasonably stable over the month and precious metals strengthened. But the weakness in Liquefied Natural Gas (LNG) prices continued. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
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Excess kina liquidity may open up opportunities for local companies in Papua New Guinea

24 May 2017 by Leave a Comment
The lack of availability of foreign exchange is creating imbalances within the Papua New Guinea financial system, according to a report by Kina Securities. It says there is a build up of liquidity in kina, which may have implications for the financial strategies of domestic companies.
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Papua New Guinea’s banks face high economic risks, reflecting debt and resource reliance, says ratings agency, S&P Global

16 May 2017 by Leave a Comment
The economic risks faced by the three main commercial banks in Papua New Guinea are very high, says ratings agency S&P Global Ratings. But Associate Director Andrew Mayes tells Business Advantage PNG, credit risk is ‘well-managed’.
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Opinion: What Papua New Guinea must do to achieve digital financial inclusion

9 May 2017 by Leave a Comment
Papua New Guinea has a high level of mobile phone penetration, but Tony Westaway, Chief Executive of MiBank, believes the country has significant barriers to overcome if it is to achieve optimum financial inclusion in the digital age. He outlines some of the issues to Business Advantage PNG.
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How the Pacific’s three biggest banks approach the region: CEOs explain

8 May 2017 by Leave a Comment
The Pacific’s three biggest banks: Bank South Pacific, ANZ and Westpac have distinct approaches to the Pacific region. Their top executives outline their strategies to Business Advantage PNG. Bank South Pacific, Papua New Guinea’s biggest domestic bank, is looking to expand into the region. Chief Executive Robin Fleming says one market that is performing well is […]
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Commodity prices weak but precious metals up: a monthly review of commodity and financial markets

26 Apr 2017 by Leave a Comment
It has been a bad month for most commodity prices, but not precious metals. The weakness in Liquefied Natural Gas (LNG) prices has continued, with the price falling sharply over the last month. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
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