O’Neill says Supplementary Budget won’t contain any new taxes, Oil Search MD says oil and gas sector could earn K60 billion over the next seven years, and central bank prepares to use block chain technology. Your weekly digest of the latest business news.
In brief: No new taxes, says Prime Minister, and other business stories
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22 Aug 2017 by Leave a Comment
Join us in Sydney: Thomas, Pesce headline outstanding line-up for 2-in-1 investment conference
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26 Jul 2017 by Leave a Comment
We are really excited about the program we have put together for our first investment conference in two years, which includes two heavyweight keynote speakers plus an impressive cross-section of PNG and international business leaders.
Five questions to economist Rohan Fox on Papua New Guinea’s exchange rates and APEC 2018
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13 Jun 2017 by 4 Comments
Papua New Guinea needs greater flexibility in the exchange rate, Rohan Fox, Lecturer and Research Fellow at the University of Papua New Guinea’s Division of Economics, explains to Business Advantage PNG. He believes APEC will be a boost to the economy but not enough to spark a general recovery.
Papua New Guinea economy stabilising, but financial stresses remain says Bank of PNG
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5 Jun 2017 by 1 Comment
The Papua New Guinea economy is gradually stabilising as it adjusts to the impact of the PNG LNG project, according to the Bank of PNG’s latest Monetary Policy Statement. Real economic growth is predicted to be 2.8 per cent, the kina has been steady, and the 2016 balance of payments was in surplus. But there are financial stresses, as David James reports.
Commodities stable but LNG weak: a monthly review of Papua New Guinea’s commodities and financial markets
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31 May 2017 by Leave a Comment
Commodity prices were reasonably stable over the month and precious metals strengthened. But the weakness in Liquefied Natural Gas (LNG) prices continued. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
In brief: Bank South Pacific expands into Cambodia, and other business stories
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30 May 2017 by Leave a Comment
BSP enters a joint venture deal in Cambodia, management restructure planned for PNG Power, and government shelves GST rise. Your weekly digest of the latest business news.
Excess kina liquidity may open up opportunities for local companies in Papua New Guinea
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24 May 2017 by Leave a Comment
The lack of availability of foreign exchange is creating imbalances within the Papua New Guinea financial system, according to a report by Kina Securities. It says there is a build up of liquidity in kina, which may have implications for the financial strategies of domestic companies.
In brief: Government seeking Budget support of US$500 million, and other business stories
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23 May 2017 by 1 Comment
Government seeking Budget support from World Bank, LNG partners seek huge savings by co-operating, Ok Tedi performing well after seven months. Your weekly digest of the latest business news.
In brief: Tenders out for Highlands Highway upgrade, and other business stories
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17 May 2017 by Leave a Comment
Government puts out tenders for the first part of a K3 billion Highlands Highway upgrade, demand for foreign currency falls, and report that 31 per cent of log exports from illegal SABLs.
Trade strong but foreign exchange and budgetary pressures likely to continue, says Bank of Papua New Guinea
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5 Apr 2017 by Leave a Comment
Papua New Guinea’s economy performed strongly on the trade front in 2016, according to the Bank of Papua New Guinea’s biannual Monetary Policy Statement. However, this did not translate into inflows of foreign exchange, and government revenues are expected to remain under pressure.
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