Port Moresby load shedding after shortfall in generation capacity, Fiji TV says sale of EMTV still in progress, Eastern Highlands coffee producers may switch to robusta. Your weekly digest of the latest business news.

PNG Power Executive Director John Mangos says the company is fast-tracking additional machines to stabilise the power supply in Port Moresby. The company says the capital will be on load shedding for an indefinite period due to a shortfall in generation capacity.

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Fiji TV has confirmed the proposed sale of Media Niugini (owner of EMTV) to Telikom PNG is still on, despite the Fiji Sun reporting the deal had fallen through. In a company statement, Fiji TV said: ‘Intense negotiations are in progress between right holder, Telikom PNG, and FTV in order to complete the transaction as soon as practically possible’.

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Coffee Competition winners. Credit: Post Courier

Agriculture Minister Tommy Tomscoll says Eastern Highlands Province may have to switch to growing Robusta coffee from Arabica, because of temperature changes in the province. He was speaking at the 2015 National Coffee Cupping competition, which was won by Avina Coffee Cooperative from Eastern Highlands. Runner-up was Rangimar Coffee Producers from Morobe, and third was Rainbow-Untoa Kosa from Eastern Highlands. It’s the second year of the competition.

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Kramer Ausenco has been appointed to redevelop the area in Port Moresby along the foreshore between Paga Hill and the Navy Base, following the relocation of port operations to Motukea. The project includes high-end hotel accommodation, residential apartments and commercial offices.

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Digicel PNG says it is in discussions with the commercial banks, the Central Bank and the PNG Government on ways to purchase foreign currencies, given the current shortage of foreign currency in the market.

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Security group, Glencar, is on the market to be sold by expression of interest. The directors say the sale includes SECURITYPlus and Shoreline Technologies Ltd, together with all property interests. After 20 years in PNG, they say they are selling for health and family reasons.

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Artist’s impression of Star Mountain Plaza. Credit NDY

The Mineral Resource Development Company is to build the country’s first and single biggest landowner investment project on behalf of its subsidiary companies. Star Mountain Plaza will be built on Ward Road, Hohola, consisting of a 212-room five star Hilton Hotel, a 3900 square feet multilevel convention and performing arts centre, and a 160-apartment residential tower.

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A group of British business leaders arrive in Port Moresby on a trade and investment mission early next month, following the first UK-PNG Trade and Investment Forum, held in London earlier this year.

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The developer of the iconic picnic spot Ela Beach, Tangil Okuk, director of Awaks Holdings, says he plans to reclaim a further 40 metres of the sea to create a small recreational area for the public. Okuk says he will not take away the recreational area of the beach.

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Six small island nations vulnerable to climate change have called for a global moratorium on new coal mines. Meanwhile, illegal loggers will face hefty fines and imprisonment, as part of its efforts to stop deforestation and slow climate change, says Varigini Badira, director of the PNG Office of Climate Change.

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Fiji’s economy grew by 5.3% last year, according to the Fiji Bureau of Statistics, surpassing the Reserve Bank of Fiji’s estimate of 4.5%. The biggest driver of growth was the transport sector which increased by 1.9%.

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The International Energy Agency says six liquefied natural gas (LNG) projects under construction in Australia at a cost of A$200 billion will struggle to break even because of the oil price slump. Even if oil prices recovered and averaged $US60 a barrel for the next few years, Australia’s LNG industry will struggle to be profitable.

The Dragon Dream airship. Credit: BBC

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And finally, the airship could be set to quite literally make a big comeback. An American firm is looking at designing an airship which could be more than 169m long and be able to carry a cargo of 66 tonnes.