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Pacific Games 2015 offers opportunities for business

13 Feb 2013 by
Papua New Guinea business is set to receive a major boost from supplying the Pacific Games 2015, as Games CEO Peter Stewart explains. On 4 July 2015, 4000 athletes and officials from 22 countries across the Pacific region will assemble in Port Moresby for the Pacific Games 2015. The work to prepare for the quadrennial Games […]
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Choppy seas for Pacific shipping

1 Feb 2013 by Leave a Comment
Tough market conditions have led to a sudden shake-up in South Pacific shipping, with Auckland-based Reef Shipping going bankrupt and being acquired by Hawaii-based Matson. Meanwhile, the loss-making (and ship-less) Pacific Forum Line— established in 1976 by the governments of 12 Pacific Island nations—has become wholly-owned by the Government of Samoa.  
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Combustible Fiji

29 Jan 2013 by Leave a Comment
The hand-picked Chairman of Fiji’s Constitution Commission, Kenyan-born barrister Yash Ghai, fell foul of Fiji’s military government for printing 600 copies of the country’s newly-completed draft constitution. These were confiscated and set on fire in front of him by police before the ink had dried. While the Australian Government focused on the positives, praising the […]
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How will PNG’s and the Pacific’s economy fare in 2013?

29 Jan 2013 by
Business Advantage PNG spoke with the region’s three most senior bankers to get their thoughts on the year ahead. ‘There will be some slowness in the year ahead based on global economic factors, but on the whole I’m reasonably positive,’ says ANZ’s CEO Pacific, Vishnu Mohan (pictured below). ‘I think the good news for the […]
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PNG and Fiji formalise closer business ties

17 Dec 2012 by
If foreign investors have generally been wary of investing in Fiji since the 2006 coup, Papua New Guinea has been the exception. Most notably, in 2009, PNG’s Bank of South Pacific lived up to its name by acquiring Fiji’s Colonial Banking Group and has subsequently invested heavily to strengthen its local presence. A year earlier, […]
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PNG spearheads regional growth

1 May 2012 by Leave a Comment
Papua New Guinea is expected to remain the standout economy in the Pacific over the coming year, with its success having a knock-on effect on neighbouring Solomon Islands. Business Advantage summarises the outlook for the region’s larger economies. Unsurprisingly, the region’s fastest-growing economies are those whose economies are based around exporting natural resources, especially to Asia. ‘In Papua New Guinea […]
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Solomon Islands mining industry bounces back

1 Feb 2012 by Leave a Comment
While Solomon Islands lies in the mineral-rich Pacific Ring of Fire, its mining sector has yet to mirror the success of Papua New Guinea, the region’s minerals powerhouse. But the obstacles are being removed. Mining in the Solomon Islands reached its nadir in May 2000, when its only gold mine, Gold Ridge on Guadalcanal, was […]
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BSP leads Papua New Guinea’s charge into the Solomons

1 Feb 2012 by Leave a Comment
Papua New Guinea firms are playing a key role in the Solomon Islands as investment floods in. The opening of a landmark new head office building in central Honiara marks the final stage of the takeover by Bank South Pacific (BSP) of the former National Bank of Solomon Islands (NBSI). It also symbolizes the pivotal […]
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Solomon Islands: from bust to boom [economic update]

1 Feb 2012 by Leave a Comment
Less than a decade after its economy lay in ruins, the Solomon Islands is in remarkably good shape. The Solomon Islands has undergone an economic transformation over the past decade. Its GDP has more than doubled since 2003, with its Central Bank estimating 2011 GDP growth at 8.2%, up from 7.2% a year earlier. Meanwhile, […]
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