#nasfund

In brief: ADB to loan K3.19 for Highlands Highway upgrade, and other business stories #PNG

Government puts out tenders for the first part of a K3 billion Highlands Highway upgrade, demand for foreign currency falls, and reports that 31 per cent of log exports are from illegal SABLs. Your weekly digest of the latest business news.

The  Government has secured a K3.19 billion loan from the Asian Development Bank to upgrade and maintain the Highlands Highway. Works and Implementation…

In brief: PanAust revises up its estimate of the Frieda River project, and other business news #PNG

Value and risk profile for Frieda River project improves, claims excess kina is resulting in more domestic investment, and corruption estimated to have cost Papua New Guinea K1.5 billion last year. Your weekly digest of the latest business news.

PanAust has updated its estimate of the Frieda River copper/gold project, reporting the economic value and risk profile for the project ‘has been…

In brief: BCL talks about re-opening Panguna, investors confident in PNG despite low global energy prices, and other business stories #PNG

Bougainville Copper talks with Bougainville government and landowners about re-opening Panguna, investors confident in PNG despite low global energy prices, and more improvements on the way for Jacksons Airport. Your weekly digest of the latest business news.

Bougainville Copper Limited (BCL), under a new regime, is keen on re-opening the Panguna mine with promises of more equitable sharing of…

People moves: Bank of Papua New Guinea, KPMG, NASFUND #PNG

Managing Director of Paradise Foods steps down, Bakani re-appointed as Central Bank Governor, KPMG appoints a new Managing Partner, four new NASFUND executives. The Managing Director of Paradise Foods, David Peate, has stepped down after serving 45 years with the company. The Chief Financial Officer, Michael Shields, has been appointed interim CEO. He joined Paradise in September, 2016, after…

Why modernising Papua New Guinea's bond markets may help solve the foreign exchange crisis #PNG

The shortage of foreign exchange is ‘an issue based on supply and demand,’ says the Governor of the Bank of Papua New Guinea, Loi Bakani. One way to increase demand for a nation’s financial assets is to deepen its bond markets. Business Advantage PNG considers some options.

PNG has a current account surplus but financial account deficit Source: Bank of PNG’s Economic Outlook

A possible first step…

Papua New Guinea's economy under pressure but fighting back #PNG

Global and domestic factors have combined to slow Papua New Guinea’s economy. However, as Andrew Wilkins discovers, the Pacific nation’s business leaders are still confident about its future prospects. Parliament Haus  Source: Business Advantage PNG The Pacific’s largest economy is still in a hiatus, and the slump has been more prolonged than many expected. GDP growth is expected to be modest in…