More than 100 officials - trade officials, regional agencies and other international organizations - across the Pacific nations attended a virtual E-commerce regional workshop.This workshop, which was part of the E-commerce initiative, talked about the importance of E-commerce and its benefits to the economies. The workshop also explored the state-of-play...

Bank South Pacific (BSP) chief executive officer Robin Fleming said that companies are interested in updates on resources related projects, which will help them plan out the direction for future investments.According to Fleming, the improvements of the projects such as the Papua LNG, Wafi-Golpu and the Porgera mine would give businesses clear direction. “...

Cocoa farmers have a chance to grow their production now and for new growers to begin supplying. According to chief executive officer James Rice, Paradise Foods Ltd is set to build a K55 million Queen Emma Chocolate factory in Lae that will create 75 jobs and support more cocoa farmers. “I like to create jobs,” Rice said. “We have had a lot of regions th...

Cabinet has approved K10.2 million in assisting COVID-19 research, including the development of research laboratories and the procurement of sampling of drugs.According to Prime Minister James Marape, the funds may also be used on the drug trials - if the Health Department approves. He said that this initiative was a “genuine pursuit by some of our own yo...

Institute of National Affairs (INA) executive director Paul Barker said that the government must implement measures to provide jobs, boost the economy and improve revenue. This also includes paying off debt. He also added that what is needed in this economy are some public sector reform and expenditure control, saying that the budget must zero in on prior...

Deputy Head of PNGEITI National Secretariat Christopher Tabel stressed on the importance of ensuring contract transparency and systematic reporting is built into transparency mechanisms in contracts and MoAs. The recent participation of the PNG Extractive Industries Transparency Initiative (PNGEITI) in the week-long review of the Woodlark Mining Project ...

According to Kumul Consolidated Holdings Limited (KCHL), the government will sell off its companies that are not making money. These include Datec, EMTV and FM100.KCHL managing director Isikeli Taureka said that the National Executive Council (NEC) had already approved of this sale. “EMTV and FM100 are all up for sale because they are not going to bring i...

New Zealander Aaron Underdown has replaced Moses Liu as the managing director of National Development Bank after six years in his position.Underdown joined NDB in March as the group executive manager risk and compliance (chief risk officer) and served for 25 years as a senior risk professional in different fields - property and asset finance, agriculture ...

Because Australia has pledged to provide economic assistance of A$596 million in the year 2020/21 and has agreed to suspend interest and principal repayments for the US$300 million concessional loan given last November 2019, Treasurer Ian Ling-Stuckey has expressed his gratitude for their strong support for the people of PNG. In addition, Australia is pro...

Particular areas in the laws on resources projects should guarantee that the State, investors and the people benefit, said Petroleum Minister Kerengua Kua. According to Kua, the laws need to be reformed so that the government should not have to borrow to finance commercial projects. He mentioned that previously the state had given 100 per cent ownership t...

Following the opening of its gas plant outside Port Moresby recently, NiuPower, a joint venture between Kumul Petroleum Holdings and Oil Search Ltd. has been supplying power to the area since November, according to chief executive officer Michael Uiari.He said that power supply is enough in the city but more investments are needed for distribution and tra...

In response to business news making allegations against his past business work, Autonomous Bougainville Government President Ishmael Toroama says that any foreign investment is done according to the Bougainville Inward Investment Act 2014.“This act regulates all investment into Bougainville and parties wishing to bring investors into Bougainville must abi...

The frequent blackouts in PNG are caused by technical challenges. This was revealed by PNG Power Limited Managing Director Flagon Bekker who said that the blackouts are attributed to the challenges of PNG Power’s (PPL’s) ageing infrastructure, in addition to an ongoing transition.He said, “PNG Power acknowledges that this is not an acceptable level of per...

In partnership with Cathay Pacific Airways, Air Niugini will resume its operations between Port Moresby and Hong Kong. In a statement, Air Niugini said that it will use it's Boeing 767 aircraft to operate its service. At the onset, flights will operate at least once a week every Wednesday. The code-sharing with Cathay Pacific, as well as with Air France, ...

In response to the announcement made by Investment Promotion Authority (IPA) managing director Clarence Host of the proposed amendments to the IPA Act (1992), the Independent Consumer and Competition Commission (ICCC) has welcomed these changes. According to ICCC commissioner and chief executive officer Paulus Ain, many businesses across the country are o...

Because of the poor work quality, the second phase of the multi-million kina Lae Port Tidal Basin has been suspended. According to State Enterprises Minister Sasindra Muthuvel, they will now move on to the third phase. “The third phase has now being brought in as the second phase is said to be the Huon Industrial hub or the Lae Tidal hub,” he said. “They ...