The year 2021 will witness Papua New Guinea revealing all agreements related to oil and gas, and mining. This, according to the Head of PNGEITI National Secretariat Mr. Lucas Alkan, who added that all contracts and MOUs signed between two parties next year are required to be disclosed to the public. “The current practice in Papua New Guinea is that once t...

To help with the upcoming 2022 national elections, Prime Minister James Marape said that the government intends to use the biometric voting system. According to him, This same system had been used in different recent elections such as the Goroka Open by-election, the Kupiano ward by-election, Abau, Central, the local level government by-election for the P...

Papua New Guinea’s corporate sector is increasingly embracing gender equality and understanding the importance of women leaders to organisational success and profitability. Never before have so many talented PNG business women been sent on so many leadership courses. However, the extent to which businesses are providing the right environment for their tal...

The ICCC Appointments Committee has recently re-appointed Paulus Ain as the Commissioner and Chief Executive Officer of the Independent Consumer and Competition Commission for the next five years. This was made official by the National Gazette No. G669 of 6th October 2020.Commissioner Ain expressed his gratitude to the government for its decision. He said...

PNGX, Papua New Guinea’s national stock exchange, has recognised JMP Securities Limited (JMP) - which began trading last October 6, 2020 - as a new participating organisation. In a statement, PNGX Chairman David Lawrence, said, “PNGX is very pleased to have JMP Securities joining the market as a new stockbroker. It reflects confidence in the growth opport...

With the support of PNG-Australia Partnership, the Department of Treasury and Asian Development’s Bank (ADB), Private Sector Development Initiative (PSDI), and the Investment Promotion of Authority (IPA) signed a Memorandum of Understanding (MOU) to make doing business together in Papua New Guinea easier and more convenient.Under the MOU, PSDI supports th...

Survival is the first primary focus of businesses following prolonged lockdowns and ‘new normal’ brought on by the global Covid-19 pandemic that has impacted everybody worldwide. This was the crux of the message from acting CEO of PNG Air, Mr Anthony Pereira during a recent interview with PNG Business News at their 7 Mile head office, in Port Moresby. Whi...

PNG is just ripe for new developments. With six multi-million projects valued at K133 billion in the pipeline, the country is just waiting for approval from the government.According to Prime Minister James Marape, the government has been in careful consideration with project developers so that the State and the landowners can have their “fair share''.”“Fo...

The world’s largest shipping group, China Ocean Shipping Company (COSCO) has partnered with the PNG Ports Corporation Limited to expand its services across PNG with bi-monthly vessel calls through Inchcape Shipping Services as its local PNG agents.Its maiden voyage was the container ship. Hansa Cloppenburg, soon to be followed by Tokyo Trader on October 2...

In spite of the pandemic, the assets of the Petroleum Resources Kutubu has grown from K400 million in 2008 to K2.3 billion. This was revealed by Mineral Resources Development Company (MDRC) Managing Director Augustine Mano at Aiyo Primary School, Kutubu, Southern Highlands Province who said that this growth was part of his commitment to the Fasu landowner...

In a market survey participated by business leaders, more than 60 per cent have shown that they are not going to lay off employees during this time, according to the PNG Business Council. Executive Director Douveri Henao said that this is a good sign and that companies are now employing measures such as using a skeletal workforce and reduction of work hou...

“The demand for gold almost always rises as the economy worsens. And that is just what is happening today,” New Ireland Governor Sir Julius Chan said in a statement during a meeting with Kumul Petroleum Holdings Limited (KPHL) board in the province. He added, “In less than two years, gold has gone from US$1,200 (K4,197) per ounce to nearly US$2,000 (K6,9...

For the development of their renewable energy park, landowners from Markham Valley, Morobo have signed lease agreements and development with PNG Biomass, saying that the lease enables construction, site clearing, and operation of the park. The agreement between these two sanctions is sure to benefit landowners.Operated by the Mark Markham Valley Biomass L...

As part of the agenda of the government, New Deputy Prime Minister Sam Basil who is also the Minister for National Planning has vowed to link PNG beginning from Morobe to Port Moresby - which ultimately costs between K400 and K500 million. According to Mr Basil, the road runs from Kasengare, Kaitaipi, Rupila, Omu, Guari, Tapini and Aropokina to link to th...

In a move that slowly opens the economy and boosts the tourism industry, Papua New Guinea has opened its borders for four more countries - Singapore, Hong Kong, Solomon Islands, and Japan. This comes after PNG has already opened its doors to Australia.According to pandemic response controller David Manning, passengers are still required to obtain approval...

To expand the small and medium enterprises (SMEs) and fund additional strategic projects that enhance digital leadership in the country, Kina Bank is planning to raise around A$91 million (K224mil). According to Kina Bank chief executive officer Greg Pawson, they want to be more competitive in lending particularly for large SMEs, commercial and corporate ...