New Head of Transaction Banking and Head of Business Execution, new First Secretary for Infrastructure at Aussie High Comm, new COO at Remington Group and new appointments to the Minimum Wages Board.
People moves: ANZ, Australian High Commission Papua New Guinea, Remington Group, Minimum Wages Board
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6 Nov 2024 by Leave a Comment
Bank of Papua New Guinea program aims to generate funds for green projects
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23 Oct 2024 by 2 Comments
The Green Finance Centre was founded this year under the aegis of the Bank of Papua New Guinea, with the aim of creating a framework to facilitate investments in areas such as renewables and climate resilience. Its head Mohinesh Prasad shared the centre’s plans and progress in a speech to the 2024 Business Advantage PNG Investment Conference.
Opinion: A fix to PNG’s kina and forex woes
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25 Sep 2024 by 6 Comments
The Bank of Papua New Guinea and the International Monetary Fund believe continued depreciation of the kina is the way to alleviate the country’s ongoing foreign exchange shortages. ANZ economists Kishti Sen and Tom Kenny argue there are better alternatives.
New banks in Papua New Guinea to ‘change the game’
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27 Aug 2024 by 1 Comment
Credit Corporation was one of two financial institutions to receive PNG commercial banking licences this month, with more new banks planned. Credit Corp’s Chief Executive Danny Robinson outlines his bank’s digital-first approach, while the IFC’s Kevin Gani explains the path forward for other prospective banks.
Papua New Guinea businesses still face serious forex delays, despite interventions
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23 May 2024 by 1 Comment
PNG banks and businesses tell Business Advantage PNG of considerable variation in wait times for foreign exchange, as the country’s central bank acknowledges the economic damage caused. We look at the prospects for improvement.
Cocoa drives Papua New Guinea’s cash-crop boom
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21 May 2024 by 1 Comment
Papua New Guinea (PNG) is poised to record its best-ever annual cash-crop export revenue in 2024, largely on the back of surging global cocoa prices, notes ANZ economist Kishti Sen.
Papua New Guinea’s banks embrace a digital future
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18 Apr 2024 by 1 Comment
Banks and finance firms are rolling out digital products to take advantage of increased connectivity across Papua New Guinea, where about 75 per cent of the population remain unbanked. Business Advantage PNG talks to the key players find out what’s coming.
State of Emergency declared to ‘maintain and stabilise’ Papua New Guinea’s fuel supply
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2 Aug 2023 by 2 Comments
In direct response to the ongoing disruption of fuel supplies in Papua New Guinea, Petroleum Minister Kerenga Kua has declared an extraordinary 30-day State of Emergency.
In brief: Puma Energy foreshadows risk of fuel shortages and other business stories
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19 Jul 2023 by Leave a Comment
Puma Energy head asks for help with foreign exchange to avoid fuel shortages, new World Bank report calls for reforms in PNG, Harbourside South development nears completion. Your business news in brief.
Papua New Guinea’s currency flagged to continue ‘gentle’ fall
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5 Jul 2023 by Leave a Comment
The Papua New Guinea kina is starting to experience a very gradual erosion against its key trading currency, the US dollar.
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