RAJEEV SHARMA REPLACES IAN TARUTIA AS NASFUND CEO
The Nasfund Board today announced the appointment of Mr. Rajeev Sharma as its Chief Executive Officer replacing Ian Tarutia who is retiring on the 31st March, 2023. The Board and…
PNGEITI CALLS FOR TRANSPARENCY MECHANISMS TO BE BUILT INTO THE SWF ARRANGEMENT
Transparency mechanisms built into the topical Papua New Guinea Sovereign Wealth Fund (SFW) will enable an effective functioning of the fund, according to the PNG Extractive Industries Transparency Initiative. PNGEITI…
FEMALE LAWYER MADE BARRICK NIGUINI LTD PNG COUNTRY MANAGER
Barrick Niguini Ltd, operator of the giant Pogera Mine in Enga has named Ms Karo Maha-Lelai as Country Manager to oversee its PNG operations. Lelai who had a short stint…
PNGLNG PARTNERS IMPLORED TO DISCLOSE NATURE OF TRANSACTION
An undertaking by state owned Kumul Petroleum Holdings Limited (KPHL) to increase its PNGLNG equity through a conditional arrangement between PNGLNG partner Santos has raised concerns over the lack of…
KUMUL OFFERS TO ACQUIRE 5% OF PNGLNG FROM SANTOS
Santos yesterday advised it has received a binding conditional offer from Kumul Petroleum Holdings Limited (Kumul) to acquire a 5 per cent project interest in PNG LNG for asset value…
NASFUND ANNOUNCES NEW BOARD CHAIR IN TAMZIN WARDLEY
The Nasfund Board today announced the appointment of Ms. Tamzin Wardley as the Fund’s new Chairperson from the 1st October 2022. Ms. Wardley has over 20 years of Financial and…
PNG ECONOMY RETURNS TO GROWTH BACKED BY HIGHER COMMODITY PRICES- 4 % EXPANSION PROJECTED
The Papua New Guinea economy is forecast to expand by four percent in 2022, up from one percent in the previous year, according to the latest World Bank Economic Update,…
FOREIGN EXCHANGE MARKET INFLOWS GAIN MOMENTUM IN THE JUNE QUARTER
“Foreign Exchange (FX) market inflows gained momentum in June Quarter. FX inflows are expected to seasonally taper in September Quarter, and outstanding FX orders build-up again,” says BSP Group General…
NORMAL BANKING SERVICES AFTER SHORT DISRUPTIONS: BSP
Bank South Pacific (BSP) will provide normal banking services to its customers today after it closed all branches in NCD at 2pm yesterday. BSP Group Chief Executive Officer Robin Fleming…
US$ 200 MILLION FOREX RELIEF: THANKS TO WORLD BANK
A World Bank commitment of US $ 200 million to help the PNG Government address critical development priorities stands to ameliorate cyclical forex constraints PNG business are faced with. The…