Tourism brings in only US$105 million in the first half of 2017, Lae businesses downturn about 30 per cent, says business leader, and SP Hunters win. Your weekly digest of the latest business news.

An IFC-led survey has revealed tourists spent US$105 million in PNG during the first half of 2017 with each visitor spending US$2558 per trip on an average. Meanwhile, more than 5000 tourists attended this year’s Goroka Show creating what’s been reported as the biggest crowd in the show’s 61-year history. The Post Courier said tourists from Japan, China, Australia, Germany, Italy and Africa travelled to the Eastern Highlands for the annual three-day event, the longest running cultural festival in PNG.

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LCCI President, Alan McLay. Credit: The Loop

Lae businesses are struggling with the ‘increasing difficulties brought on by the ongoing foreign exchange shortage, according to Lae Chamber of Commerce Inc President Alan McLay. He told The National the shortage had depleted stocks and replacements were becoming harder to source. He estimates sales have dropped by 30 per cent.

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The SP Hunters Rugby League team has been given a heroes’ welcome home, after winning the Queensland Intrust Super Cup on Sunday, reports RNZI. The Hunters are only back home for a few days before flying to Sydney on Friday ahead of the NRL State Championship match against the Penrith Panthers.

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Nautilus Minerals says it ‘requires significant additional funding’ in order to complete the build and deployment of its under sea floor production system for the Solwara I project. It says failure to obtain US$41 million by the end of 2017 may force the company to take action, including asset sales, joint ventures and capital restructurings.

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Constitutional Law Reform Commission chairman, Dr Eric Kwa, says the draft Independent Commission Against Corruption (ICAC) bill is open for public discussion but there is no time frame as to when the bill gets to Parliament.

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Chingwam Rice Growers Cooperative Chairman Mr Maran with Trukai Industries Rice Development Manager Humphrey Sease

Trukai Industries has opened its new K620,000 mill in Lae. CEO Greg Worthington-Eyre says the project complements the government’s 100-day plan which includes local rice production and focus on the agriculture sector. The new commissioned hulling mill has a storage capacity of 12 tons, and can process between 2.5 ton to 3 tons per hour. It will initially process rice grown in the Markham Valley,

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The value of run-down copra and coffee plantations around the country is estimated at K1.5 billion, according to Trade Minister, Wera Mori. He said the government planned to revive about 300 plantations by engaging communities using the co-operative society model.

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Mayur Resources has raised about K40 million by listing on the Australian Stock Exchange. Managing Director Paul Mulder says the company will use the money to invest in four projects: Orokolo Bay Industrial Sands Project in Gulf; Port Moresby limestone project; Mineral projects in Sitipu, Eastern Highlands and Feniu Island in New Ireland; and the Lae power project.

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The cleanup. Credit: Robertha Leo from NGO Help PNG

And finally, hundreds of volunteers armed with gloves and masks turned up at Port Moresby’s Hanuabada Village at the weekend to clean up tonnes of rubbish. A sea of plastic litter had been collecting underneath the suburb’s stilt houses, choking the shoreline and causing hygiene problems and fire hazards. The clean-up was led by World Vision, funded by the New Zealand government and partnered with organisations from across Port Moresby.