Barrick’s CEO Mark Bristow is in Papua New Guinea to advance Porgera talks, K92 Mining announces expansion, and Eastern Highlands Province in lockdown. The business news you need today.
In brief: BSP Financial Group announces half year results and other business stories
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25 Aug 2021 by Leave a Comment
BSP Financial Group and Oil Search present half year results, Papua New Guinea signs agreement with the Organisation for Economic Co-operation and Development. The business news you need today.
In brief: ‘historic’ green energy agreement between PNG and Fortescue Minerals and other business stories
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18 Aug 2021 by 2 Comments
Fortescue and Papua New Guinea Government sign landmark agreement to venture into green energy productions, the Bank of PNG flags two new projects and Minister apologises over Pasca A negotiations. The business news you need today.
ICCC proposes to disallow Kina Bank’s acquisition of Westpac’s Pacific assets
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27 Jul 2021 by Leave a Comment
In an interim determination, Papua New Guinea’s Independent Consumer and Competition Commission (ICCC) says it may not allow Kina Bank to buy Westpac’s remaining assets in the Pacific.
BSP denies regulator’s anti-money laundering allegations
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14 Jul 2021 by Leave a Comment
BSP Financial Group (BFL) has responded to allegations made by the Bank of Papua New Guinea’s Financial Analysis and Supervision Unit (FASU) that it was in breach of the country’s anti-money laundering laws. Meanwhile, the Bank of PNG’s Governor has distanced the central bank from the allegations made by its own unit.
Gradual devaluation of Papua New Guinea’s currency would be ‘helpful’, says banker
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9 Jun 2021 by 7 Comments
Papua New Guinea’s currency, the kina, has been steady this year after weakening against a number of major currencies in late 2020. Should it be devalued further? We asked Jonathan Prince, Treasurer at Westpac PNG, to consider the consequences.
In brief: Bank of Papua New Guinea to undergo review and other business stories
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9 Jun 2021 by Leave a Comment
The Bank of Papua New Guinea to be reviewed, Porgera jobs plan, and new strategic plan for women in coffee. The business news in brief.
Lower demand sees Papua New Guinea’s agricultural exports fall
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27 Apr 2021 by 1 Comment
The latest figures from the Bank of Papua New Guinea reveal the negative impact of the global pandemic on PNG’s agricultural sector. Exports of all the country’s major agricultural commodities fell in the 12 months to September 2020, although the falls were partly offset by improved prices in some cases.
Economy on the mend, says Bank of Papua New Guinea Governor
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12 Apr 2021 by Leave a Comment
The Governor of Bank of Papua New Guinea has forecast a recovery for the country’s economy of 2.5 per cent after the sharp contraction of 2020. But he says the national budget and PNG’s foreign exchange reserves will remain under pressure.
COVID silver linings: Bank of Papua New Guinea releases economic bulletin and not all is bad news
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1 Feb 2021 by Leave a Comment
The Bank of Papua New Guinea has released its Quarterly Economic Bulletin for the March and June 2020 Quarters. It shows that the economy and government finances came under great pressure because of the COVID-19 lockdowns, but that the impact was uneven.
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