PNG’s Investment Promotion Authority to deregister firms
Papua New Guinea Investment Promotion Authority (IPA) expects the number of companies listed in its system to drop, due to its cleansing exercise, an official says. Managing director Clarence Hoot said those companies
PNG businesses struggle due to shortage of foreign currency
The shortage of foreign currency currently faced in the country is causing many Papua New Guinea business houses to see a decline in their sales and profit. City Pharmacy Ltd Group, one of the biggest retail businesses
CEO Alabaster exits Air Niugini
Papua New Guinea’s national airline company Air Niugini Limited’s chief executive officer Bruce Alabaster has stepped down from his position. Air Niugini chairman Sir Kostas Contantinou announced that Alabaster
Impressive results excite new BSP boss
New BSP Financial Group chief executive officer, Mark Robinson is impressed with steady results produced by BSP Group, not just for one year but for a longer period of time. He said the result does not only reflect a
Palau Senate bill eyes changes in labour law
The Palau Senate is eyeing amendments in the existing labour law to allow for a more “progressive labor workforce.” Senate Bill No. 11-82, which was on first reading and referred to a Senate Committee for further
Vanuatu regulates cultivation of cannabis and hemp
The regulations for the importation, cultivation, processing and export of medical cannabis and industrial hemp in Vanuatu were officially signed Wednesday. A person or business wanting to legally cultivate cannabis and
Improve PNG trade standards: Minister Maru
More effort and focus need to be put into improving standards and requirements for PNG products to be sold on international markets, says International Trade and Investment Minister Richard Maru. Maru was comparing
PNG population outgrows job market: Barker
Papua New Guinea’s population has outgrown the number of jobs in the formal employment space, according to the country’s Institute of National Affairs (INA) executive director, Paul Barker. Barker said the
Pacific Islands Economic Outlook 2023
After two long years of COVID-19 and the tourniquet it applied to the lifeblood of Pacific economies— connectivity and tourism — what can our region expect in 2023? The United Nations predicts the global economy
Whipps responds to concerns over Chinese interests
Palau’s President Surangel Whipps Jr has responded to an investigative report that has revealed activity in Palau by “organised criminals with links to the Chinese Communist Party”, by stating that there is
Superfunds to host investment forum in PNG
Nasfund and Nambawan Super will be co-hosting the Pacific Island Investment Forum on behalf of the PNG Superannuation Industry in Port Moresby from 27-31 March, 2023. The Pacific Islands Investment Forum (PIIF) is an
