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
Australia to arm PNG patrol boats
The Australian Department of Defence has announced it will arm the Papua New Guinea Defence Force’s four new Guardian-class Patrol Boats. The equipment will be delivered through the Pacific Maritime Security Programme
E-Commerce trailblazer: Banz Kofi
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 Mount Hagen coffee
PNG: Coping with COVID
By early June, Papua New Guinea’s COVID-19 cases stood at 15,938 and 15,088 of that number have recovered. There have been 162 deaths, and at the time of reporting, there were 688 active cases. So how is the PNG
Probe into Pacific Maritime Industrial Zone project financing
Papua New Guinea Treasurer Ian Ling-Stuckey has announced a new study aimed at resuming work on the long-delayed Pacific Maritime Industrial Zone project in Madang. PMIZ has been a white elephant sitting on the fringes
Violence against women in Pacific politics
As with their sisters around the world, many women in the Pacific Islands are victims of violence. While much of this violence occurs within the family, a socio-cultural environment accustomed to violence against women
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 vaccine expiring soon
With the AstraZeneca Covid-19 vaccine from the Covax facility expiring next month, Papua New Guinea health officials are concerned that some may waste due to the slow uptake among health workers and the public. Deputy
Weightlifters Toua and Morea settling in well pre-Olympics: Coffa
Papua New Guinea Olympics hopefuls, weightlifters Dika Toua and Morea Baru have both settled in well in Melbourne, Australia for their preparations for the Tokyo Olympic Games in July. Oceania Weightlifting Federation
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
Delving into digital: Kina finds its sweet spot
The entry of Papua New Guinea’s Kina bank into the fairly competitive Fiji market later this year will bring a range of digital products that should stimulate further innovation in the sector and more choice for
Delving into digital: Kina finds its sweet spot
Kina Bank is set to bring new digital products to Fiji when it acquires Westpac's Fiji
PNG growth may be unstable due to second wave: BSP
Bank South Pacific says while PNG’s 2021 economic growth is projected to recover to 3.5%, growth “may be unstable owing to external and domestic factors and strong headwinds from the COVID-19
Sope’s history lesson
Vanuatu’s former Roving Ambassador and former Prime Minister, Barak Sope, has disputed claims that the late Sir Michael Somare was a supporter of West Papua. Sope says it is important that original political leaders
The art of listening
At the celebration of Sir Michael Somare’s life at Suva’s Sacred Heart cathedral this month, Archbishop Peter Loy Chong spoke about the willingness to listen as one of the Grand Chief’s defining characteristics.
Farewell to the Chief
After three weeks of mourning, Papua New Guinea’ founding father, Sir Michael Somare, was laid to rest at Kreer Heights in Wewak, East Sepik Province on March 16. In Port Moresby, a national Haus Krai saw thousands of
COVID-19 vaccine doses earmarked for Pacific Islands by July
Twelve Pacific Island countries are expected to receive vaccines for the coronavirus in the first half of this year through the COVAX initiative, with the region’s largest nation Papua New Guinea expected to receive
Kina’s Westpac offer: why a banking duopoly would be bad for PNG
The much-anticipated bid for Westpac Pacific (PNG and Fiji) operations by Kina Securities (the owner of Kina Bank) was finally confirmed last month. The offer did not come as a surprise as Westpac moved its Pacific
Worry for PNG business leaders
At a brief sitting of Papua New Guinea’s parliament in November – with all Opposition MPs absent – the James Marape government passed its 2021 Budget, before abruptly adjourning until next April. Treasurer Ian
BSP on par with global peers, indicates ASX listing interest, eyes Australasia
Papua New Guinea’s regional bank BSP will revisit an earlier plan to list on the Australian Stock Exchange (ASX). In a message to shareholders last week informing them on the progress of the company, BSP Group