PNGX, Papua New Guinea’s national stock exchange, has adopted a new Corporate Governance Code for Listed Issuers following public consultation. PNGX, the national stock exchange of Papua New Guinea, is proud to announce the adoption of its new comprehensive Corporate Governance Code. This groundbreaking initiative aims to provide guidance to the Boards...

PNGX, Papua New Guinea’s national stock exchange, welcomes the capital market reforms announced by Minister for International Trade and Investment, Hon. Richard Maru OBE, MP on Friday, 23 June 2023. The Minister announced 3 significant reforms to grow the Papua New Guinean capital market and others to make the existing market more robust. The new co...

Global warming is continuing to cause significant risks to countries around the world, and the impact of climate change is more widespread and severe than anticipated. This has become a constant reminder to economies throughout the globe of the urgency of addressing and disclosing climate risks. In Papua New Guinea, there are so many vulnerable communi...

Prime Minister Hon. James Marape said recently (09.06.23) there was space for more commercial banks to operate in the country to tap into an increasing banking market in Papua New Guinea. The Prime Minister said this as he was providing an update while answering questions raised by the Opposition on the banking situation in the country. “There is a ...

The Inclusive Green Finance Policy was officially launched today at the Hilton Hotel in Port Moresby, Papua New Guinea. The ceremony was presided over by the Rt. Honorable Prime Minister of Papua New Guinea, James Marape, who expressed his honor in inaugurating this significant policy. The Prime Minister encouraged government departments, state-owned ente...

Photo: Professor Stephen Howes. Credit: Australia National University Papua New Guinea is grappling with a foreign exchange shortage, resulting in higher imports and lower exports, according to economist Professor Stephen Howes from the Australia National University (ANU) Development Policy Centre. Speaking at the 38th Australia-PNG Business Forum and ...

PNGX, Papua New Guinea’s national stock exchange, will adopt new Listing Rules from 3 July 2023. The new Listing Rules are a key step towards the development of a more effective secondary market in Papua New Guinea. They contribute to ensuring that PNG has a world class capital market that is internationally respected and recognized. PNGX’s Listing ...

PNGX, Papua New Guinea’s national stock exchange, will move to faster settlement of trading from 3 July 2023. PNGX’s Business Rules, which govern the trading and settlement of all trades on the market by stockbrokers, will be amended to require settlement on the second day after a trade (T+2), which is faster than the current 3 days (T+3). The propo...

Photo: BSP Group General Manager Treasury Rohan George  “Lower commodity prices and the delay in Porgera’s resumption is expected to prolong distress in PNG’s foreign exchange market,” according to the BSP Quarter 1 2023 Economic Insight report. BSP’s Group General Manager for Treasury, Mr. Rohan George said “FX market turnover in the March Quarter ...

The Bank of Papua New Guinea (BPNG) has announced its monetary policy considerations for the next six months until September of this year. The central bank indicated that it will maintain a neutral stance in line with the country's economic developments and medium-term prospects. As required by the country's central banking law, BPNG issued two monthly...

PNGX, Papua New Guinea’s national stock exchange, has today released a proposed new Corporate Governance Code for Listed Issuers for public consultation. PNGX is proposing to introduce a new Corporate Governance Code for the guidance of Boards of listed issuers. The proposed Code contains 17 Standards. Within each of the 17 Standards are a number of...

Photo: Greg Pawson. Credit: Kina Bank Facebook Page Kina Bank's CEO and Managing Director, Greg Pawson, has called for more competition in the banking sector in Papua New Guinea. According to Pawson, the recent 50% increase in corporate income tax to 45% will make it difficult for other banks to compete. He also stated that the decision to increase the...

Photo: BSP’s Acting Group CEO Ronesh Dayal BSP delivers a record K1.136 billion underlying profit, with BSP’s statutory profit reducing to K1.081 billion once the impacts of the new PNG government taxes are applied. Consequently, BSP’s shareholders K1.74 full year dividend was only marginally higher (0.6%) than the prior year’s K1.73. According to B...

Photo: Greg Pawson Kina Securities Limited, has reported an underlying net profit after tax of K106.1 million for the financial year 2022, representing a 10.3% increase from the prior corresponding period (PCP). Kina’s CEO, Greg Pawson, said that the result was "pleasing" and demonstrated the company's commitment to its strategic plan. He also highligh...

"The Bank of Papua New Guinea has an excess of US$3.7 billion (K13 billion) worth of foreign reserves sitting in the bank that can cater for the country for one year," said Prime Minister James Marape in response to questions raised by the Governor for Southern Highlands William Powi in Parliament. He went on to say, "I was informed by BPNG that the Centr...

Photo credit: Internal Revenue Commission PNG - Revenue Haus in Port Moresby The Internal Revenue Commission has collected a record revenue of K15 billion for the public purse this year, according to Prime Minister, James Marape. In a media statement PM Marape has commended the management and staff of Internal Revenue Commission (IRC) for being an e...