Papua New Guinea’s top two bankers, Loi Bakani, Governor of the Bank of Papua New Guinea and Robin Fleming, Chief Executive of Bank South Pacific, have asserted that the kina is not ‘controlled’. The shortage of foreign exchange is rather due to supply demand imbalances—but there is light at the end of the tunnel.
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Top bankers set the record straight on Papua New Guinea’s foreign exchange shortage
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31 Aug 2016 by 2 Comments
Opinion: What you need to know about Papua New Guinea’s new Cybercrime Act
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23 Aug 2016 by 23 Comments
The Papua New Guinea Government has passed the Cybercrime Bill, which applies to the use of electronic systems and devices, including: spam, hacking, forgery and computer fraud. Zinnia Dawidi, a lawyer specializing in IT & Telecommunications Law, outlines the implications for businesses and individuals.
Papua New Guinea’s broadband network ‘on track’, but there will be challenges, says analyst
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17 Aug 2016 by 1 Comment
The rollout of PNG’s National Transmission Network is on track for completion later this year. It will transform the nation’s digital highway, but that does not mean there will not be challenges, telecommunications analyst Henry Lancaster tells Business Advantage PNG.
Training of PNG’s LNG technicians steps up
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17 Aug 2016 by 13 Comments
In a bid to promote skills formation in Papua New Guinea’s LNG sector Kumul Petroleum Academy, trading as South Pacific Employment Institute (SPEI), has signed a K9 million technician development agreement with ExxonMobil PNG.
In brief: ‘Clan vetting’ the key to resolving PNG LNG royalty issue, says Energy Minister
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10 Aug 2016 by Leave a Comment
Officials sent to negotiate with Hides landowners over non-payment of royalties from PNG LNG project, Ok Tedi earns K623 million since March, and PNG Post pays K500,000 in dividends. Your weekly digest of the latest business news.
Papua New Guinea’s mid-year economic report paints gloomy picture, with some positives
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2 Aug 2016 by Leave a Comment
The Papua New Guinea government has released its Mid-Year Economic and Fiscal Outlook Report. GDP growth is expected to be weak, tax revenue is lower than expected and public debt is rising above the legislated limit.
The battle for InterOil: what’s in it for Papua New Guinea?
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20 Jul 2016 by Leave a Comment
Next week, the Papua New Guinea-focused gas explorer InterOil may well have a new owner, after its shareholders consider rival offers from Oil Search and ExxonMobil. Business Advantage PNG considers the implications for PNG’s second gas project, Papua LNG and the wider economy.
In brief: New 30-day visa a boost for Papua New Guinea tourism, and other business stories
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20 Jul 2016 by Leave a Comment
Australians can now obtain a 30-day visa on arrival, Botten says Elk-Antelope could need at least two new LNG trains, and Treasurer confident cash flow enough for health, education and infrastructure spending. Your weekly digest of the latest business news.
Running a brewery in Papua New Guinea ‘like farming’, says SP Brewery’s Joyce
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28 Jun 2016 by 1 Comment
Running a manufacturing business in Papua New Guinea is like being a farmer, Managing Director of SP Brewery, Stan Joyce, tells Business Advantage PNG. There are good years and there are difficult years.
AkzoNobel looks to expand for the long term in Papua New Guinea
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14 Jun 2016 by Leave a Comment
Difficult economic conditions can be a time for committed companies to expand market share and establish themselves for the long term. Mikael Ruben, Managing Director of paint manufacturer AkzoNobel tells Business Advantage PNG his company sees the need to remain aggressive in Papua New Guinea.
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