The past year has been a challenging one for Papua New Guinea’s major businesses but, as we are learning from our own conversations with them, they are nevertheless proving remarkably resilient. Now, all eyes are again focused on the next wave of resources investments.
Waiting times on foreign exchange orders have been falling substantially on central bank interventions and other factors, senior representatives of BSP Financial Group, Kina Bank and Westpac Papua New Guinea reveal to Business Advantage PNG.
The ambitious housing development from Rhodes PNG Limited is a “first of its kind” land-use model that aims to deliver affordable housing to the country’s rising middle class.
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.
While business confidence is largely sustained in this year’s PNG 100 CEO Survey, there are rising concerns about several business impediments. Westpac Senior Economist Justin Smirk provides his analysis of this year’s survey results.
The Papua New Guinea kina is starting to experience a very gradual erosion against its key trading currency, the US dollar.
The results of the 2023 PNG 100 CEO Survey, Papua New Guinea’s annual business confidence survey, have been released. Westpac’s Senior Economist, Justin Smirk, draws on 12 years of survey results to highlight the changes in business conditions and the issues faced by business.
Morobe Governor says Wafi-Golpu agreement will contain risk funding provisions, internet cable breakages set to take months to fix, and superannuation fund puts pressure on government over rent arrears. The business news you need today.
The PNG 100 CEO Survey captured the depth of the COVID crisis through 2021, and is now charting a return of some optimism in 2022, according to analysis provided by Westpac’s Senior Economist, Justin Smirk.
It is back to the drawing board for Kina Bank and Westpac, as Papua New Guinea’s Independent Consumer and Competition Commission has issued a ‘final determination’ declining authorisation of Kina’s proposed acquisition of Westpac Papua New Guinea.