Papua New Guinea’s new Prime Minister announces his cabinet, PNG Air Limited enters into a code-sharing agreement with Virgin Australia, and Australia commits to helping the Solomon Islands develop infrastructure. Your weekly digest of business news.

Prime Minister James Marape announced the names of the 33 ministers that constitute his cabinet. They were sworn in at Parliament House on 6 June.

Fourteen ministers served in O’Neill-Abel government too but only four of them (Minister for Public Service Westly Nukundj; Minister for Commerce and Industry Wera Mori; Minister for Immigration and Border Security Minister Petrus Thomas, and Minister for Tourism, Arts and Culture Emil Tammur) occupy the same role.

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The Independent Consumer and Competition Commission (ICCC) has granted authorisation to PNG Air Limited to enter a code-share agreement with Virgin Australia for services between Brisbane, Queensland, and Port Moresby. (Post Courier)

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During his visit to Honiara, Australia’s Prime Minister, Scott Morrison, pledged AU$250 million (K585 million) to help the Solomon Islands develop infrastructure. (ABC)

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Aust & Hachmann (Canada), a company that imports, stocks and distributes vanilla products across North America, Japan, China, Brazil, Australia and Israel, has published a new vanilla market update. The document suggests that Papua New Guinea will produce about 150 to 200mt of vanilla beans in 2019. It also highlights the fact that Papuan growers will have to improve their quality standards if they want to ‘secure a long-term foothold in both the industrial and food service sectors.’ (Post Courier)

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The Highlands Highway has so many potholes that damage to trucks, trailers and heavy equipment is frequent and expensive. The extensive damage to the highway is forcing companies to open workshops in Mt Hagen rather than just Lae. Mapai Transport is one of the companies that has opened a workshop in Mt Hagen. ‘Whether you are driving an old or new truck along the Highlands highway, the probability of trucks falling victims to the effects of the deteriorating highway in unavoidable,’ explained Luke Konge of Mapai Transport Mt Hagen. (Post Courier)

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Peter Botten, Oil Search’s Managing Director, reportedly said during a conference at the Sydney Mining Club that he doesn’t ‘envisage there will be any changes to the Papua LNG agreement.’ Botten also suggested that the P’nyang gas agreement, which still needs to be finalised, could resemble a deal already ‘brokered in the Papua LNG project led by Total’. (Reuters)

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Puma Energy’s General Manager, Hulala Tokome, told the Post Courier that he is optimistic about the barrel price for oil for the year despite pressures on the international market. (Post Courier)

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Crater Gold Mining Limited has announced a new loan agreement for AU$500,000 (K1.2 million). According to the company’s release, the funds will be used ‘to further develop the High Grade Zone (“HGZ”) at the Crater Mountain Project in Papua New Guinea.’ (Crater Gold)

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Prime Minister James Marape has met with representatives of Barrick Gold Corporation and Zijin Mining Group, and has reaffirmed his commitment to working with them and the local communities in Porgera. An application to extend Porgera’s mining lease for another 20 years in under review.

Porgera joint venture owners meet with PNG PM https://t.co/0HCVnWf4lJ pic.twitter.com/UmtafbSSDF

— PNG News & Info (@PngPles) June 5, 2019

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A new partnership agreement between PNG DataCo and the National Broadcasting Corporation (NBC) will involve PNG DataCo leasing 11 NBC sites to install cable landing stations under the Kumul Submarine Cable and provide capacity for 12 sites, including: Alotau, Lae, Madang, Popondetta, Vanimo, Wewak, Kimbe, Kokopo, Manu, Kavieng, Kerema and Goroka. (Post Courier)

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Last week, the government released K20 million to the Bougainville Referendum Commission. (The National)

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Governor Nakikus Konga has revealed his plans to open a coffee factory in East New Britain Province. The factory would be sited at Kabakaul, along the Tokua corridor. (Post Courier)

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After almost 18 months of negotiations, PNG Power’s 2019 Enterprise Agreement was signed last week in Port Moresby. It will benefit over 3000 employers. (Post Courier)

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The Brian Bell Group has stopped using single-use plastic bags and has substituted them with paper bags. Brian Bell is also asking its customers to bring recycled bags, or bilums, when shopping. (EMTV)

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The Papua New Guinea Tourism Promotion Authority has chosen Example, a Sydney-based communications agency, to be its PR company. Example’s focus will be on ‘driving increased visitation from Australia and New Zealand’. (Travel Weekly)

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