Loan losses quantified as PNG Inquiry prepares to release report
Papua New Guinea lost US$432 million on a loan arranged by the Sydney office of the Union Bank of Switzerland in 2014, far more than earlier
Papua New Guinea
Weaving a path to sustainability
As founder and creative director, Jessica Cassell’s ambition for Papua New Guinea’s Bilum & Bilas is for the venture to be well-known internationally as “a brand that has best practice around in working with
Oil Search and Santos merger reflects funding worries for new projects
The proposed merger of oil and gas companies Oil Search and Santos could put downward rating pressure on Santos, according to S&P Global Ratings, while other analysts predict more global mergers and acquisitions in
“We can’t just sit back and wait for the tourists to come”
By Samantha Magick Banz Kofi’s online business was transformed when owner Patrick Killoran negotiated a significant reduction in freight rates. Last year during COVID, while regular sales out of the company’s
Pacific artist soars to the top of the world
Justin Wellington By Rowena Singh Spend a bit of time on TikTok and the chances are you will pretty quickly come across someone dancing to the iconic track “Iko Iko” performed by Pacific music star Justin
Oil Search rejects Santos bid
Oil Search rejected an unsolicited scrip-based takeover proposal from Santos Ltd that valued the Papua New Guinea-focused oil and gas producer at AUD$8.8 billion (US$6.5 billion), the two companies said on Tuesday.
COVID-19 Delta variant reported in PNG
A single positive COVID-19 case with the Delta mutation has been detected in Papua New Guinea. Deputy Controller of the PNG COVID-19 National Pandemic Response Dr Daoni Esorom confirmed a 65-year-old Philippine national
BSP and FASU clash over alleged money laundering warning
The Bank South Pacific Financial Group Ltd (BSP) has always complied with its anti-money laundering and counter-terrorist financing (CTF) obligations in Papua New Guinea, says chairman Sir Kostas Constantinou. He made
The crisis of governance in PNG’s power sector
The recent spate of power outages (70 in a week according to the Post Courier), and the sudden resignation of yet another PNG Power Chief Executive Officer after only nine months in the job have brought into stark
Gender-based violence report to go to PNG parliament
Papua New Guinea Special Parliamentary Committee on Gender-Based Violence (GBV) will table a report for the August session of parliament which will include concrete, practical recommendations for action aimed at
Pacific artist soars to the top of the world
Spend a bit of time on TikTok and the chances are you will pretty quickly come across someone dancing to the iconic track “Iko Iko” performed by Pacific music star Justin Wellington, aka ‘JW’. While Pacific
We need arrests
Testimony to the PNG Parliamentary Committee on Gender-Based Violence This is the edited testimony of Ms Denga Ilave, Lae Operations Director for Femili PNG, delivered on Monday 24 May to PNG’s Special Parliamentary
PNG economy may recover when second LNG project begins, but debt will rise
Ratings agency, S&P Global Ratings expects the Papua New Guinea to recover when the second LNG project commences next year, but has maintained a Negative outlook for the economy. In its latest review of the South
PNG economy, health hit hard
The impact of COVID-19 is accentuating trends that had already developed over the last decade, says University of Papua New Guinea lecturer in economics, Maholopa Laveil. He lists amongst these trends: “falling
Can sharing the joy of tax increase government revenue in PNG?
Around the world, tax compliance is a serious problem with big consequences. The case is no different in Papua New Guinea (PNG). It is an important concern of the current government. In July 2019, Prime Minister James
Australia appoints its first Indigenous person as Consul-General
Australia first Indigenous Consul-General, Benson Saulo says he’s keen to share Australia’s Indigenous culture and connecting with First Nations businesses and leaders in the US as part of his trade and investment
PNG rejects observer suspension on fishing vessels
The Papua New Guinea Fishing Industry Association (PNGFIA) has rejected the recent suspension by the Western and Central Pacific Fishing Commission (WCPFC) of observer coverage services on board purse seine fishing
Porgera extension rejection reflects policy of economic nationalism
The Papua New Guinea government’s decision not to extend the mining lease on the economically important Porgera gold mine has shocked the joint venture operator, but the K17 billion (US$4.8 billion) Wafi-Golpu
Four more species of “walking sharks” found off PNG
Marine scientists have found four new species of shark in waters off Milne Bay, PNG and off Indonesia which evolved to use their fins as feet and can walk across the ocean floor. Walking sharks, also called
What has trade protection done for PNG manufacturing?
2019 was meant to mark the end of the PNG government’s 20-year Tariff Reduction Program (TRP), introduced in 1999 and designed to reduce tariffs gradually to a uniform 10% across the different tariff categories. In
O’Neill matter still tied up in courts
The arrest warrant against former Papua New Guinea Prime Minister, Peter O’Neill has been withdrawn by police – but the matter is still making its way through the courts. The warrant related to alleged
PNG journo reinstated
Two days after terminating his employment, Papua New Guinea’s EMTV has re-instated News and Current Affairs manager Neville Choi, and he says he will be back at work this morning. Choi was sacked for what EMTV