Search Results:

Prime Minister Hon. James Marape hits the ground running in the frontier-breaking clean green energy projects he has been championing over the last two years when he met with leaders of Fortescue Future Industries (FFI) in Singapore recently to progress the talks further. He said from Singapore FFI has voiced its intention to partner Papua New Guinea i...

This month, James Marape is re-elected as the Prime Minister of Papua New Guinea. Despite a general election that was scourged with moments of violence, death, destruction of infrastructure, and claims of election fraud, Marape is back in the office as the country's leader. In the current election, Marape's Pangu Party earned at least 36 of 118 seats a...

Photo: PM Marape addressing Parliament on Tuesday, August 9, 2022 Prime Minister Hon. James Marape says his Government will do its “utmost best” for the people of Papua New Guinea. He said this recently (Sunday, August 14, 2022) as he goes through the process of selecting ministers and laying the groundwork for the next five years. “On August 30,...

EU Funded UN Joint STREIT Programme in Papua New Guinea establishes a renewable energy-powered facility to support local government authorities in East Sepik Province, in delivering effective services to rural farmers and entrepreneurs.  With generous support of the European Union, the FAO-led EU STREIT Programme officially opened a new 3 cluster offic...

Certified Practicing Accountants of Papua New Guinea will be hosting their 23rd annual conference with about 400 participants nationwide expected to attend the two day conference organized by CPA PNG in Lae Morobe Province from August 18 to19, 2022 CPAPNG was established in 1974 and has come a long way with a lot of achievements along the way. Over the...

Bank South Pacific's Financial Group Ltd Chief executive officer Mr. Robin Fleming has recently announced that the bank has granted more than K200 million as loans to small to medium enterprises under its credit scheme facility that the then Marape government had released to the bank to support Small to Medium Enterprise (SME) and local businesses during ...

Photo: The Caretaker Cabinet with Governor-General Sir Bob Dadae in Government House Prime Minister Hon. James Marape says he will take no more complacency from heads of Government departments and agencies to move Papua New Guinea forward. He said this in no uncertain terms during a meeting with them on Loloata Island recently (Thursday August 11 20...

The National Fisheries Authority named Justin Ilakini as its new Managing Director in an official statement on July 28. Ilakini has extensive knowledge of the fishing industries in both Papua New Guinea and the region. He was born and raised in Gavuone Village, Central Province, and served with the NFA for eight years before accepting advising position...

Treasurer Ian Ling-Stuckey cites the International Monetary Fund's (IMF) 6.8% inflation forecast for Papua New Guinea. “PNG’s economy can be greatly affected by shifts in the global economy,” he said. “The latest IMF World Economic Outlook released last week increased inflation predictions for developing countries to an extraordinary 9.5 per cent av...

Photo credit: Islands Business The Madang business community wishes to contribute more to the growth of the Pacific Marine Industrial Zone (PMIZ) in the region. The development of the project, according to Kevin Murray, president of the Madang Chamber of Commerce and Industry, would have a favourable effect on the city's economy. A committee has ...

Photo credit: Centre for Excellence in Financial Inclusion Financial information is vital to making informed decisions and NASFUND Contributors Savings and Loan Society (ncsl), as a financial institution, endeavors to provide necessary training and awareness to empower people to make good financial decisions. On Monday 01 August, ncsl and Centre for...

Sir Wilson Kamit has been named chairman of the board of directors of TISA Community Finance Limited, a fully owned subsidiary of Teachers Savings and Loan Society, beginning July 21, 2022. Sir Wilson, according to TISA's chief executive officer Michael Koisen, brings to the TCF board a wealth of knowledge and managerial experience that will help the s...

There have been many divestments and reinvestment in the country by foreign enterprises in past years, according to the Investment Promotion Authority (IPA). According to IPA managing director Clarence Hoot, 165 foreign enterprise certificates were awarded for the first half of this year as opposed to 364 for the entire previous year. “We are seeing...

Photo credit: Papua New Guinea Customs Service The PNG Customs Service and Investment Promotion Authority (IPA) have renewed their partnership to work together in relation to trade, border protection and facilitation, promoting investment including intellectual property enforcement. In order to advance their continuous collaboration, customs chief c...

The Independent Advisory Group overseeing the review of the Central Banking Act 2000 and Financial Sector Regulation has been given the clearance to go ahead with Phase II of the review. Chairman Robert Igara in a public notice said: “With the successful completion of IAG’s phase I work and decision of the National Executive Council in November 2021, t...

“Foreign Exchange (FX) market inflows gained momentum in June Quarter. FX inflows are expected to seasonally taper in September Quarter, and outstanding FX orders build-up again,” says BSP Group General Manager – Treasury, Rohan George. “As FX flows can be lumpy, we expect there to be periods where outstanding FX orders build up,” said George. Accor...

The price of goods and services have continued to increase since the second quarter of 2021, with Consumer Price Index (CPI) rating closing the first quarter of this year at 6.9 percent – the highest level rating since 2010. To counter this high domestic inflation, the Bank of PNG has tightened the Monetary Policy by increasing the Kina Facility Rate (...

Prime Minister Hon. James Marape, MP says the completion of Telstra’s acquisition of Digicel Pacific this month is demonstration of international confidence in the Papua New Guinea economy. “The government has worked to liberalise the telecommunication market, and to also even out the playing field so that we attract important investments, and build im...