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…
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…
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…
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…
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…
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…
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…
WORLD BANK COMMITS US$200 MILLION TO SUPPORT PNG ROADS, NUTRITION AND EMPLOYMENT
The World Bank’s Board of Executive Directors has approved three new projects with a combined commitment of over US$200 million (PGK722 million). The projects will…
MORE ACTION REQUIRED TO PROMOTE GOOD GOVERNANCE
Good governance provides a conducive environment for investment and opportunities for employment, which in turn generate government revenue from taxes. However, promoting good governance has…
TIMELY ACTION BY GOVERNMENT IS CRITICAL TO REALISE GROWTH PROJECTED BACKED BY THE EXTRACTIVE SECTOR
The PNG economy stands to make a quick recovery and growth can pick up this year if the Government acts early to facilitate recovery in…