COVID-19, Porgera and politics may have monopolised the attention of the media, but 2020 brought many other challenges, unexpected changes and triumphs for business. Here’s how Business Advantage PNG reported on this extraordinary year.
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Budget paper: Papua New Guinea’s revenue problem means it must raise more debt
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16 Nov 2020 by Leave a Comment
The suspension of Parliament means that Papua New Guinea’s 2021 National Budget will be delayed until at least next month and possibly longer. Whenever it is finally delivered – and whoever delivers it – the recently released Budget Strategy Paper clearly outlines the challenges it must address.
Blame it on oil and gas prices? Horizon Oil leaves Papua New Guinea
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9 Nov 2020 by 1 Comment
Horizon Oil has announced that it is selling its assets to its co-venturer Arran Energy and pulling out of Papua New Guinea. The prospect of a weak oil price may be to blame, according to one analyst.
‘Promising’ forecast: Papua New Guinea’s economy doing well compared to neighbours, says bank
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29 Oct 2020 by Leave a Comment
Papua New Guinea is increasing its debt by less than other nearby nations and the contraction of its economy is not expected to be as severe as the world average, says a Kina Bank report.
Commodities update: palm oil reverses trend, LNG soars but oil continues to weaken
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28 Oct 2020 by Leave a Comment
LNG prices continue to surge and are now up by over a third this year. But oil prices eased and cocoa prices also fell slightly. Business Advantage PNG’s monthly review of commodity and financial markets.
‘Slow recovery’: Business Council of Papua New Guinea demands focus on economy
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20 Oct 2020 by Leave a Comment
Business in Papua New Guinea has responded well to COVID-19 but is now facing a downturn at the lower end of expectations. David Toua, board member of the Business Council of Papua New Guinea says the focus now needs to turn to the economy.
Work visas in Papua New Guinea
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5 Oct 2020 by Leave a Comment
An overview of the regulations and application procedures for work-related visas in Papua New Guinea, including business visas, restricted entry visas, and APEC visas.
Commodities update: silver loses shine, cocoa melts but LNG prices rise
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29 Sep 2020 by Leave a Comment
LNG prices surged, clawing back most of this year’s losses, but oil prices fell. Silver also lost some of its recent spectacular price gains. Business Advantage PNG’s monthly overview of commodity and financial markets.
Ready for business: Papua New Guinea’s Ihu Special Economic Zone approved
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23 Sep 2020 by 15 Comments
The National Executive Council has given the nod to Papua New Guinea’s first special economic zone. Project Director Peter KenGemar tells Business Advantage PNG about how it could boost local jobs and investment
In brief: Papua New Guinea’s economy has the potential to reach K200 billion in the next 10 years and other business stories
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21 Sep 2020 by Leave a Comment
Papua New Guinea’s Prime Minister talks business during Independence dinner, Tari Airport reopens and Treasurer Ian Ling-Stuckey on the Central Banking Act. The business news you need to know to kickstart your week.
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