In a move that will reassure Papua New Guinea exporters to the United Kingdom, the UK government has confirmed it will maintain the European Union’s current trading arrangements with PNG after ‘Brexit’. Meanwhile, Prime Minister O’Neill has flagged ‘huge incentives’ for investments in agriculture and tourism, Business Advantage PNG reports from London.
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United Kingdom confirms post-Brexit trading arrangements with Papua New Guinea
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1 May 2018 by Leave a Comment
SME credit fund role part of our Papua New Guinea social responsibility, says Kina Bank CEO
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24 Apr 2018 by 1 Comment
Kina Bank is working with the Australian government and other donors to set up a credit fund for small and medium sized business. CEO Greg Pawson has told business leaders in Port Moresby the scheme is part of the bank’s corporate responsibility.
In brief: Papua New Guinea on the cusp of a ‘super cycle’ in mining investment, says the ANZ, and other business stories
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24 Apr 2018 by Leave a Comment
Papua New Guinea economy on the cusp of a mining boom, kina’s fair value ‘around US 23-25 cents’, and niche tourism could nearly triple tourism numbers in 10 years. Your weekly digest of the latest business news.
Standard & Poor’s lowers Papua New Guinea’s rating
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24 Apr 2018 by Leave a Comment
S&P Global Ratings has lowered its long-term foreign and local currency sovereign credit ratings on Papua New Guinea (PNG) to ‘B’ from ‘B+’, but it believes the outlook is ‘stable’. The agency points to bigger than expected fiscal deficits because of ‘a loss of revenue and reconstruction costs after a recent earthqu
Oil prices and silver are up: a monthly review of Papua New Guinea’s commodity and financial markets
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24 Apr 2018 by Leave a Comment
Oil prices are rising and silver is also strengthening. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
In brief: LNG production resumes earlier than expected, and other business stories
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18 Apr 2018 by Leave a Comment
Production resumes at the LNG plant as more reserves found, BHP Billiton to be sued over alleged environmental damage, and talks with China over a free trade agreement. Your weekly digest of the latest business news.
Transparency Initiative report calls for improved systems in extractive sector in Papua New Guinea
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4 Apr 2018 by Leave a Comment
The Extractive Industries Transparency Initiative Report for 2016 has found that improvements are being made to registry and payment systems, but more needs to be done. It notes that budgeting to government revenues remains difficult because of the industry’s volatility and the relatively small number of companies paying full tax.
In brief: Gas from PNG LNG plant to feed the Port Moresby grid in early 2019, and other business stories
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4 Apr 2018 by Leave a Comment
New Port Moresby power plant to be online during early 2019, US equity firm bids A$13.5 billion for Santos, and PNG Post keen to diversify. Your weekly digest of the latest business news.
Central bank Governor calls for plan to make Papua New Guinea self-sufficient in food
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3 Apr 2018 by 6 Comments
The Governor of the Bank of Papua New Guinea has called for a national plan to make the country self-sufficient in food production, with capacity for export. Loi Bakani outlined his proposal at last month’s National Planning Consultative Summit in Lae.
Papua New Guinea Earthquake Update: relief efforts continue as Restoration Authority established
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28 Mar 2018 by Leave a Comment
The Papua New Guinea government has set up a new authority to oversee the restoration of services and infrastructure, following the February 26 earthquake. As humanitarian relief work continues, analysts expect GDP to fall slightly.
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