BPNG closes down unauthorised foreign exchange trading
Papua New Guinea’s central bank has moved to stop offshore foreign banks, which don’t operate in PNG, trading in the Kina. From this month, people and companies wanting to trade in Kina and foreign currencies will only be able to use one of six authorised dealers. Since July last year, after the Bank intervened to […]
Newsletter Issue 13th March 2015
Click here for our newsletter issued 13th March 2015.
CPL Groups next phase of retail growth
Papua New Guinea’s largest retailer, the CPL Group, does not plan to allow a slowdown in the marketplace to get in the way of its strategy for growth, Chairman Mahesh Patel tells Business Advantage PNG. Despite a challenging retail environment, CPL Group Chairman Mahesh Patel explains says the diversified retail group is not just aiming […]
Opinion: How PNG can lessen the impact of falling energy prices
Progress in fostering economic and social development is threatened by the recent drop in global energy prices. Paul Barker provides practical ways to minimise the impact of the downturn. 2015 has been heralded as the year when PNG will enjoy the highest GDP growth rate in the world, on the back of its first full […]
Newsletter Issue 6th March 2015
Click here for our newsletter dated 6th March 2015.
Fish stocks slump in spite of scheme, says PNG industry
Papua New Guinea’s tuna industry leaders are calling for reform of the regional Vessel Day Scheme, saying it is counterproductive, speeding up stock depletion, with the size of catches getting smaller. The Vessel Day Scheme (VDS) has been operating since 2005, designed to ‘constrain and reduce catches of target tuna species, and increase the rate […]
PNG forest industry leaders call for ‘affordable housing’ project to be completed locally
It’s critical for the future of Papua New Guinea’s forestry and manufacturing sectors that the Government’s planned 40,000 ‘affordable houses’ be built in PNG by local suppliers, industry leaders tell Business Advantage PNG. The O’Neill government announced plans last June for the National Housing Corporation to build a total of 40,000 affordable homes in Port […]
Newsletter Issue 27th February 2015
Click here for our newsletter dated 27th February 2015.
Business and employment travel outperforms leisure travel to PNG
Business and employment travel into Papua New Guinea has more than tripled in the last 15 years, outperforming leisure travel, which has see marginal growth over the last five years. Robert Upe reports. Papua New Guinea tourism was in the world spotlight in 2014, with a startling publicity campaign in New York. Two PNG tribesmen, […]
Accountability the key to success on PNG’s Sovereign Wealth Fund
Papua New Guinea’s Parliament is likely to approve establishing the long-awaited Sovereign Wealth Fund by June, after unanimously voting for its enactment at its first reading last week. The Sovereign Wealth Fund (SWF) is critical for the country’s future, says Paul Barker, Executive Director of the Institute of National Affairs, an industry-funded PNG think-tank, but […]
InterOil chief positive about PNG’s role as LNG provider, despite oil price fall
Papua New Guinea is well positioned to benefit from rising LNG demand, despite falling prices, InterOil’s Managing Director Michael Hession tells Business Advantage PNG. InterOil’s Hession has told Business Advantage PNG he doubts the recent fall in global oil and gas prices will affect InterOil’s plans for the prospective second LNG project, the Elk-Antelope fields. […]
Newsletter Issue 20th February 2015
Click here for our newsletter issued 20th February 2015.
