O’Neill defends loan to buy into Oil Search, economy vulnerable unless security boosted, Manus Detention Centre focus of Abbott/O’Neill talks. Your weekly digest of the latest business news.
In brief: O’Neill defends loan, call to boost police/military, Abbott in PNG
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20 Mar 2014 by Leave a Comment
In brief: PM takes over Treasurer’s role, first LNG shipments ahead of schedule and Ok Tedi Mining profits plunge
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12 Mar 2014 by Leave a Comment
O’Neill sacks two more Cabinet ministers, Exxon expects LNG exports to start early and Ok Tedi Mining profits plunge 80%. Your weekly digest of the latest business news.
ANZ revises PNG’s growth forecast upwards
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21 Aug 2013 by
While reduced global commodity prices are having a major impact on Papua New Guinea government revenues this year, there are ‘incipient signs of a turnaround’, according to data published in the latest ANZ Pacific Quarterly, released this week.
In brief: new Petroleum Minister, Oil Search bond buyback and other stories
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26 Feb 2014 by Leave a Comment
PNG’s new Petroleum Minister, officials in Abu Dhabi to negotiate Oil Search bond buyback, and the cost of Manus Detention Centre detailed. Your weekly digest of the latest business news.
Solomons’ banks close foreign logging company accounts
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15 Aug 2013 by 1 Comment
Commercial banks in the Solomon Islands have closed down several logging company bank accounts, in a move that will make it almost impossible for those companies to receive export proceeds.
In brief: competition concerns over Oil Search, Bougainville mine and a review of bank charges
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19 Feb 2014 by Leave a Comment
Competition concerns over Elk-Antelope share holdings, ABG keen to re-open Panguna and Treasurer orders bank charges review. Your weekly digest of the week’s business news.
Opinion: Sovereign Wealth Fund key to the fall or rise of the kina
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12 Feb 2014 by 1 Comment
The ANZ Bank last month predicted the kina will fall by up to 10% in value by the end of 2014, in anticipation of income from the LNG project. Paul Barker from the Institute of National Affairs, looks ahead several years to when that income begins to have ‘a substantial impact’.
People moves: NBPOL, InterOil and other senior appointments
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29 Jan 2014 by
A new, independent director at New Britain Palm Oil, two new executives at InterOil, and other appointments.
Papua New Guinea currency may fall another 10 per cent: ANZ
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28 Jan 2014 by Leave a Comment
The value of the Papua New Guinea’s currency, the kina, is expected to fall as much as ten per cent over the coming year, after stabilising for the last two months, according to Lead Pacific Economist at ANZ Bank, Daniel Wilson.
Memoir: Exporting along the Kokoda Trail
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25 Jul 2013 by
Three years ago, ‘Airport Economist’ Tim Harcourt came to Papua New Guinea to see how it was coping after the global financial crisis. In this excerpt from his forthcoming book, Trading Places – The Airport Economist’s Guide to International Business, he reflects on what he found.
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