Interoil sells downstream business for $525M
INTEROIL has announced the sale of its Papua New Guinea oil refinery and petroleum products distribution businesses to Singapore-based Puma Energy for $US525.6 million. The deal includes adjustments for cash and working capital and is intended to allow InterOil to focus on its higher-returning upstream and LNG business. InterOil’s downstream businesses include the Napa Napa […]
Newsletter Issue 27th June 2014
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From the President’s Desk – 27th June 2014
MINIMUM WAGE In today’s newspaper, and over the last few weeks there have been many reports that the NEC has approved an increase in the Minimum Wage from K2.29 to K3.20 per hour. The PNG Chamber of Commerce has not been formally informed of the Government’s decision nor has it been able to confirm this […]
Telikom signs onto new TV drama series, paving the way for a new television production industry
The signing of the first major backer for a new Papua New Guinea television drama series paves the way to develop a local TV production industry, according to the show’s producers. This week, telecommunications company Telikom PNG entered a sponsorship deal to part-underwrite the first series of the show, Central Giants. Central Giants tells the […]
Newsletter Issue 20th June 2014
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From the President’s Desk – 20th June
NADZAB DEVELOPMENTS We are looking forward to receiving an application for membership from the National Airports Corporation (NAC) to join the Lae Chamber of Commerce. We believe this will improve the two ways communication between our organizations, and this will be beneficial to the development taking place at Nadzab. Two weeks ago I reported a […]
International IP Enforcement Summit calls for united effort to address IP abuses
More than 300 government and business leaders came together in London this week to press for stronger intellectual property (IP) enforcement measures in Europe and worldwide. The International IP Enforcement Summit was hosted by the United Kingdom IP Organization, European Commission, the Office for Harmonization in the Internal Market and the EU Observatory on Infringements […]
Newsletter Issue 13th June 2014
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What’s around the corner for the Pacific economy – BusinessAdvantagePNG
The Pacific’s increasing integration with Asia, elections in Fiji and more leadership from Papua New Guinea are just some of the factors likely to shape the region over the coming year, according to the region’s three top bankers. In exclusive interviews with all three, Business Advantage PNG canvasses their thoughts on the year ahead. ‘There’s […]
Lae Roads Update – 13th June
Shorncliffe Update: Cassowary Rd: (See newsletter for an updated TMP) Huon to Cassowary junction access is limited to Resident. Line Drain, Kerbing Pavement Preparation Continues between Wagtail and Huon Road. Pavement Concrete Continues between Wagtail Street and Finch Street. Temporary access roads are provided near Wagtail Street. Mangola Street: (See newsletter for an updated TMP) […]
Stronger kina will affect exporters – BusinessAdvantagePNG.com
The Bank of Papua New Guinea’s move to strengthen the value of the Papua New Guinea kina against the US dollar has taken business by surprise, with some business leaders saying it will impact on primary industry producers. Key business leaders say that while importers will benefit, the Bank of Papua New Guinea’s move to […]
Newsletter Issue 6th June 2014
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