The Bank of PNG (BPNG) claims that rising global inflation has resulted in higher import costs and domestic inflation, which it attributes to increased activity and demand as a result of massive fiscal and monetary stimulus programs. The ongoing Russia-Ukraine war, according to Acting Governor Benny Popoitai in BPNG's quarterly economic bulletin for th...

Remote sections of the nation, such as Morobe's Siassi islands, are no longer neglected, according to James Marape. During his visit to Bunsil Station on central Umboi Island, he launched many impact projects for Pangu MP Hon. Tewai-Siassi District Development Authority (DDA). Kobby Bomareo, M.D. He was joined by the Deputy Leader of Pangu, Hon. Gin...

Photo: PM Marape with Manus Governor Hon. Charlie Benjamin (left), Civil Aviation Minister Hon. Walter Schnaubelt and Speaker and Manus MP Hon. Job Pomat at the new Momote International Airport in Lorengau According to James Marape, his government has boosted expenditures on vital infrastructure across the country, in contrast to the Peter O'Neill dict...

Photo: President Anthony Smaré addressing the attendees at the 34th Annual General Meeting Incumbent president of the PNG Chamber of Mines and Petroleum Anthony Smaré retained his position as President at the Chamber’s Annual General Meeting. Mr Smaré was re-elected unopposed in the Chambers 34th Annual General Meeting held on Thursday 28th of April...

Holiday Inn Express Port Moresby reopened its doors to guests on the 1st of May, 2022. The perfect base to get business done while in Port Moresby or start a PNG adventure, the hotel closed operations on April 16, 2020 following the first travel border closures as a result of the COVID-19 pandemic. Whilst the hotel remained closed for sale from 2020, a...

Photo: BSP Group General Manager for Corporate Banking, Peter Beswick The global economy remains constrained by inflated commodity prices, lingering pandemic effects, and supply bottlenecks. According to BSP Pacific Economic and Market Insight Q1 2022 Report, BSP Group General Manager for Corporate Banking, Peter Beswick said Russia’s invasion of Uk...

Photo: IPA Haus Since 2019, the Investment Promotion Authority has seen a significant increase in PNG businesses registered. The increase in registration came when COVID-19 hit the country, according to IPA managing director Clarence Hoot. “We are slowly seeing registration of businesses, especially from international investors and international ...

“As Bougainville continues to make great headway in its political development, we must also ensure that our socio-economic development is on par with our independence ready mission.” President Toroama made this bold declaration in parliament, emphasising the importance of hastening internal economic development plans. “We already have several high i...

Pacific Trade Invest (PTI) Australia, an agency of the Pacific Islands Forum Secretariat, has launched its 2021 Annual Report. Despite the harsh climate, the report highlighted more than A$27 million in export sales and 17 investment deals brokered in the area. In the aftermath of COVID-19, PTI Australia continues to engage with businesses in Papua ...

PNG DataCo Limited (DataCo) chief executive officer Paul Komboi says there will be a planned outage on the Coral Sea Cable System (CS2) between Port Moresby and Sydney from May 14 to 21. However, according to Komboi, the date might be pushed back to October. “DataCo management has considered this outage a critical precautionary measure to mitigate s...

Photo: Digicel mobile towers in Papua New Guinea. Credit: Jason South The possibility of Vodafone, Digicel, and Telikom PNG sharing towers is still being discussed. Mr Lal stated that Vodafone had first discussed tower leasing and sharing with both Digicel and Telikom/BeMobile, but that no viable agreements had been reached, prompting the company to...

Photo: Qantas has resumed its operations after more than two years.  On Friday, April 22, 2022, services resumed with the arrival of flight QF057 and the departure of flight QF058. Qantas flew to Papua New Guinea to bring supplies to the front lines during World War II. Qantas began flying from Australia to Port Moresby and Lae in 1945, where the...

According to Vodafone PNG, the country's third mobile operator would spend K3 billion in the country, offering chances for Papua New Guineans in terms of growth, prosperity, job creation, and telecommunications affordability and accessibility an official said. Regional chief executive officer Pradeep Lal said the telco (telecommunications company) was ...

Since 2020, international shipping rates for general and containerised cargos have climbed dramatically, having a considerable influence on domestic products pricing. According to statistics accessible to the ICCC, the surge in maritime freight prices was caused by the COVID-19 epidemic and trade imbalances, which resulted in international container sh...

Despite no new resource projects coming online, Prime Minister James Marape claims that the country has been able to report positive growth. According to the Asian Development Bank (ADB), the country's GDP would increase by 3.4 per cent this year and 4.6 per cent next year. Marape stated that the government was handling a debt to GDP (gross domestic...

Photo: PM Marape congratulating Sohe MP Hon. Henry Amuli on his appointment as Minister for Commerce and Industry Minister for Environment Conservation and Climate Change Hon. Wera Mori has been decommissioned by Prime Minister Hon. James Marape in a Cabinet reshuffle made recently (April 13 2022). PM Marape also announced the reshuffle of Minister ...