Normal services along the Highlands Highways resume, coffee exports steady but expected to fall next year, and China approves loan for Pacific Marine Industrial Zone. Your weekly digest of the latest business news.

Two sections of the Highlands Highway which were blocked by relatives of two policemen killed during last month’s elections have re-opened, allowing normal services to flow. The highway was blocked off for a month, affecting the entire Highlands region.  Lae Chamber of Commerce and Industry President, Alan McLay, said the blockade had been devastating for business, adding that trucking companies were struggling, and on the verge of layoffs.

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Coffee Industry Corporation CEO, Charles Dambui, reportedly says coffee exports are steady, despite the coffee berry borer (CBB) affecting production eight months ago. Dambui said 2016 was a record year, with 1.12 million bags exported, worth K649 million. He said the effects of the CBB would be felt in 2018.

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The Women’s Micro Bank’s Ricky Mitio. Credit: Loop PNG

China’s Exim Bank has agreed to fund the new plan for the Pacific Marine Industrial Zone project in Madang, with a US$152million (K350million) loan,  says Trade Minister Wera Mori.

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The Women’s Micro Bank is releasing seven million shares at K1 per share to members of the PNG Women in Business Foundation, PNG Women in Business Limited and members of the Women’s Micro Bank. Bank Chairman, Ricky Mitio, said the offer would improve the bank’s capital adequacy requirements.

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The Post-Courier reports the Southern Highlands capital, Mendi, is not safe for public and businesses to carry out normal business after a gunfight between supporters of parliamentary candidates and the security forces on Sunday morning. Southern Highlands businessman, Gary Kulangil, said business houses including shops and the Bank South Pacific branch are cutting down on their daily operations and Mendi airport is closed.

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Trukai Industries’ new paddy rice mill in Lae is expected to be completed this month. The mill has a maximum production capacity of 240 tonnes per week, though output will be limited by how much rice can be grown at this stage.

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Kina Asset Management has reported an increase of 48.24 per cent in net profit after tax for the first half of 2017 totalling K5 million, a return of 9.5 per cent. Chairman, Sir Rabbie Namaliu, said the main contributors to the strong performance was the rise in share prices of Commonwealth Serum Laboratories  (37.5 per cent) and Bank South Pacific (6 per cent).

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After extensive trials, S P Brewery will begin using locally-grown cassava in its beer production from mid-2018, CEO Stan Joyce told delegates to the Papua New Guinea Investment Conference in Sydney last week.

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Trukai Industries’ new paddy rice mill in Lae is expected to be completed this month, reports The National. The mill has a maximum production capacity of 240 tonnes per week, though output will be limited by how much rice can be grown at this stage.

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Ok Tedi Mining will pay an interim dividend of US$50 million (K160 million) this month. OTML chairman Sir Moi Avei said the dividend will be split with about K107 million to the state and K53 million to the Fly River provincial government, CMCA (Community Mine Continuation Agreement) and mine communities.

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PNG Power’s Alex Oa. Credit: The National

Six new power generators have arrived from China to replace ageing generators in Wewak, Wabag, Buka, Arawa Kimbe and Kokopo, according to PNG Power’s Acting CEO, Alex Oa.

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Bank South Pacific says its newest subsidiary BSP Finance (Solomon Islands) will open on 18 September to extend its financial and lending activities into broader sectors of the local economy throughout Solomon Islands and the South Pacific region.

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The Edai Town housing estate has sold more than 120 houses in its first phase of development, says Director Kym Yong. She said that most of the home buyers had participated in the government’s first home ownership loan scheme with Bank South Pacific.

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And finally, China plans to ban the production and sale of diesel and petrol cars and vans. The country’s vice minister of industry said it had started ‘relevant research’ but that it had not yet decided when the ban would come into force. Both the UK and France have already announced plans to ban new diesel and petrol vehicles by 2040, as part of efforts to reduce pollution and carbon emissions.