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.
In brief: Wafi-Golpu agreement to contain risk funding provisions and other business stories
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27 Sep 2022 by Leave a Comment
The 2022 PNG 100 CEO Survey: the return of optimism
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4 May 2022 by Leave a Comment
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.
Regulator rejects Kina Bank’s acquisition of Westpac’s Papua New Guinea assets
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14 Sep 2021 by 7 Comments
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.
Kina Bank presents its vision for Westpac to Papua New Guinea’s regulator
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16 Aug 2021 by 1 Comment
If Kina Bank’s acquisition of Westpac’s Pacific operation proceeds, it will be rebranded East West Commercial Bank, a stand-alone ‘Pan-Pacific’ bank to compete against its new parent. That’s according to a presentation made by Kina last week as it tries to convince Papua New Guinea’s Independent Consumer and Competition Commission of the deal’s merits.
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.
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.
2021 PNG 100 CEO Survey: a snapshot of the effects of COVID-19 in Papua New Guinea [analysis]
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21 May 2021 by Leave a Comment
The annual Business Advantage/Westpac PNG 100 CEO Survey has captured the depth of the COVID-19 crisis and the sense of uncertainty that exists among businesses in Papua New Guinea. Westpac’s Senior Economist Justin Smirk takes a closer look.
In brief: PNG Tourism Promotion Authority reveals exit survey numbers and other business stories
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19 Apr 2021 by Leave a Comment
Papua New Guinea’s Tourism Promotion Authority reveals bleak outcome for 2020, Kumul Petroleum Holdings gets three petroleum retention licenses and new equity holders for PNG LNG. The business news in brief.
In brief: Third mobile carrier getting ready to roll by year-end and other business stories
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31 Mar 2021 by Leave a Comment
Communications Minister confident in a new telco by year-end, the ICCC initiates review of Kina’s takeover of Westpac, and Ok Tedi Mining pledges K10 million in COVID-19 relief. Your business news in brief.
Nothing to fear: Kina Bank’s executive dismisses claims of ‘duopoly’ in Papua New Guinea
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10 Feb 2021 by 5 Comments
Kina Bank will adopt a ‘multi-brand’ strategy after acquiring Westpac PNG, according to Lesieli Taviri, Executive General Manager for Banking. She believes fears about a duopoly are unfounded.
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