Casino to drive PNG’s next wave of development: Marape
Prime Minister James Marape shared his vision Friday on the nation’s future at the groundbreaking ceremony of the Paga Hill Special Economic Zone (SEZ) satellite
Economy
Millions ‘not properly audited’ for APEC: PNG Auditor General
More than K500 million (US$127 million) of public funds expended to deliver Apec 2018 in Port Moresby could not be properly audited because of poor or no
Congress candidates tackle CNMI economy, federal rules and the China factor
The CNMI faces many obstacles to building a resilient and sustainable economy. Challenges include limited natural
Palau signs FY 2025 Budget Act, averting government shutdown
The Palau national government avoided a shutdown with the signing of the Fiscal Year 2025 Unified Budget Act on 30 September
Pacific utilities advised to set strategic planning to gain savings from renewable energy investments
Renewable energy can bring cost savings for Pacific utilities, but achieving these benefits requires strategic
K1billion in foreign exchange backlog in PNG banks, forum told
Papua New Guinea foreign exchange backlog among commercial banks has increased to more than K1 billion (US$255 million) in the past six
PNG producer lobbying to get more out of kava
A Papua New Guinea kava supplier, Ocean Kava Limited is lobbying for Fiji's government to change its kava import
The “Palauan Dream”
Palau’s tourism industry may be slowly recovering, but there are concerns that its young people are not participating in the
Unrest-hit New Caledonia airlines in search of new markets
New Caledonia‘s domestic carrier Air Calédonie is set to launch a bi-weekly international connection to neighbouring Vanuatu. The new link is set to start operating from 3 October with two return flights, one
Regional Kava Strategy launched: Tonga’s Princess urges protection against cultural misappropriation
Tongan Princess Angelika Lātūfuipeka Tuku’aho has issued a passionate call for the protection of kava’s cultural and economic value at the launch of the Regional Kava Development Strategy on Wednesday, emphasising
Opinion: As Western banks leave the Pacific, a new player emerges
Australian banks are gradually withdrawing from the Pacific Islands, leaving the region at risk of being totally disconnected from the global banking system. Bendigo Bank is exiting Nauru, while Westpac has floated
BPNG to continue Kina intervention
The Bank of PNG says to ensure a gradual and stable adjustment of the nominal exchange rate over time, it will continue to intervene to support the crawl-rate and reduce outstanding orders in the foreign exchange
Arkansas lawmakers approve emergency rule to grant SNAP benefits to Marshallese migrants
A legislative subcommittee on Thursday approved an emergency rule to comply with a new U.S federal law that extends certain public assistance programme benefits to migrants from the Marshall Islands. Arkansas is home to
Kiribati, Niue and Tuvalu struggle to keep up with high cost of living
Purchasing basic commodities, such as food, has been a big challenge for residents of Kiribati, Niue and Tuvalu, which are most affected by global inflation, according to the Asian Development Bank’s latest economic
Opinion: Free(r) movement at the Forum
The annual Pacific Islands Forum Economic Ministers Meeting (FEMM) always has a wide-ranging agenda. This year the FEMM, which was held at the start of August in Suva, endorsed the now-finalised but yet-to-be-released
Fiji Cabinet removes duties on EU goods under iEPA
Fiji’s cabinet has approved the implementation of the Interim Economic Partnership Agreement (iEPA) with the European Union (EU) and decided to remove duties on certain goods from EU countries. This move is part of
Jet fuel import facility to be online by 2025: Kumul Petroleum Holdings
Kumul Petroleum Holdings (KPHL) expects its new jet fuel import facility at Motukea Port to come into operation by the first quarter of 2025, KPHL Managing Director Wapu Sonk told the 2024 Business Advantage PNG
Migrant workers feeling the impact of New Zealand’s economic crisis
Hundreds of jobs in the New Zealand meat sector have been “discreetly” lost over the last 18 months and this is due to a decline in livestock breeding numbers, industry officials say. In January last year, the
More gold to be mined, says PM Marape
Papua New Guinea has an estimated 100 million ounces of gold that is yet to be mined, says Prime Minister James Marape. Marape said this when closing the three-day Geoscience, Exploration and Extraction Conference 2024
Economic diplomacy: Banking on the Pacific
Rebuilding regional banking is unlikely to pay dividends without an underlying business revival. Australia’s oldest bank changed its name from the Bank of New South Wales to Westpac in 1982, reflecting apparent
Key UN report lends weight to Pacific plan for shipping emissions levy
Pacific governments say an official UN report shows their push for a levy on all shipping emissions – with the revenues redistributed to poorer nations – is fairer, cheaper and more effective than other green
Pacific resilience fund needs US$380m in two years’ to reach half-billion goal
Tonga has the backing of Pacific economic ministers to host the regional community resilience financing facility. The Pacific Resilience Facility (PRF) was endorsed by the Pacific Islands Forum (PIF) leaders to
Financial crisis looms over OACPS, SG Chikoti urges immediate action
The Organisation of African, Caribbean, and Pacific States (OACPS) faces significant financial challenges that threaten its operations, said Secretary-General Georges Rebelo Pinto Chikoti at the 117th Session of the