Papua New Guinea’s growth forecast downgraded by Asian Development Bank, Bank of PNG says growth this year will partly be driven by non-mineral sector activity, plus claims PNG’s global corruption rating will depend on government commitment to accountability. Your weekly digest of the latest business news.
Papua New Guinea lenders welcome registry of personal assets
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27 Jan 2016 by 1 Comment
The creation of a registry of personal assets to be used as loan security will boost the small business sector, according to Moses Liu, the Managing Director of the National Development Bank.
In brief: Ok Tedi mine may resume operations in March, and other business stories
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20 Jan 2016 by
The Ok Tedi mine expected to start again in March, the US formally withdraws from fishing treaty, and unions call on government to honour superannuation commitments. Your weekly digest of the latest business news.
Key meeting this week to agree on Action Plan to boost major Papua New Guinea power grids
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9 Dec 2015 by Leave a Comment
Hopes are high that an action plan to resolve the problems facing Papua New Guinea’s three main power grids will be endorsed at a key stakeholders’ meeting in Port Moresby this week, according to Gavin Murray, the International Finance Corporation’s (IFC) Country Manager for the Pacific region.
2016 will bring pressure on Papua New Guinea government finances and currency, says Asian Development Bank
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2 Dec 2015 by Leave a Comment
Papua New Guinea will find itself in a tight fiscal situation in 2016, according to the latest analysis by the Asian Development Bank’s economists. While more efficient public spending could yield large savings, they suggest more may need to be done to arrest the downward pressure on the currency.
In brief: Santos rejects takeover bid as ‘opportunistic’, and other business stories
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28 Oct 2015 by Leave a Comment
Wealthy royal families’ bid for Santos rejected, the high cost of domestic violence to business, and poor economic news prompts fall in business confidence. Your weekly digest of the latest business news.
Outsourcing of road design and construction paying off, says Papua New Guinea’s roads chief
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21 Sep 2015 by 5 Comments
Major road works in Papua New Guinea are now outsourced to the private sector, under a design-and-build model. The result, says the Secretary of the Works Department David Wereh, is improved performance.
Disaster planning in the Pacific: insurance industry can help
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19 Aug 2015 by Leave a Comment
Asian Development Bank analysis showing just how vulnerable Pacific nations are to natural disasters, but what can be done to better manage the risk? Wayne Dorgan from leading Papua New Guinea insurer Pacific MMI calls on disaster co-ordinators in the region to consult more closely with the insurance industry.
Sufficient coal in Papua New Guinea to supply a 50-megawatt power station for 30 years, says Mayur Resources
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29 Jul 2015 by 14 Comments
A drilling campaign covering 1.5 km in the Gulf region has revealed there is enough high quality coal to run a 50-megawatt power station for 30 years, according to Paul Mulder, CEO of Brisbane-based unlisted miner, Mayur Resources.
LNG and tourism behind Pacific economy’s 9.9% growth, says Asian Development Bank report
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22 Jul 2015 by Leave a Comment
Pacific economies are expected to grow an average of 9.9% in 2015, as ‘positive external flows outweigh the impacts of recent disasters’, according to the Asian Development Bank’s Pacific Mid-Year Review.
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