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Photo Credit: Tim Scott, Flickr PNG Ports Corporation Limited is adamant about having huge international shipping boats berth in Papua New Guinea ports. The Lae International Berth is being renovated to meet international vessel requirements, according to Rodney Begley, PNG Ports' chief operations officer. According to him, the berth can accommod...

Photo Credit: PNG Buzz Should the deal be authorized by the ICCC, Kina Securities Limited's position on purchasing Westpac PNG remains on the table, with a discussion of more competition in the banking market. The bank recently met with the Independent Consumer and Competition Commission to explain its acquisition plan for Westpac PNG. Greg Pawso...

Domestic economic activity decreased in 2020, according to economic data accessible to the Bank of PNG, despite a rebound in the December quarter. The drop, according to the Central Bank, was caused by the Coronavirus pandemic, which had a negative influence on the world economy, as well as the government's subsequent containment efforts following the ...

Photo Credit: Loop PNG Anthony Smare has been named the new president of the PNG Chamber of Mines and Petroleum. Anthony Smare is a trained geologist and a seasoned natural resources lawyer and executive who offers a lot of expertise to the job, having previously served on the council of the PNG Chamber of Mines and Petroleum and in an advisory capa...

The K5.7 billion economic recovery and health fund, according to Treasurer Ian Ling-Stuckey, was utilized to preserve the budget and the economy, with the overarching goal of protecting the people. He mentioned this in the Parliament chamber while debating the new normal perspex solution layout, a measure to limit the development of the Covid-19 epidem...

According to the Port Moresby Chamber of Commerce and Industry, disruptions in water and electricity delivery cost firms a substantial amount of money, particularly in the industrial sector. Because to the continuous power and water supply issues in Port Moresby, Chamber president Rio Fiocco stated that operating expenses were rising, particularly for ...

Photo Credit: Oil Search Businesses are waiting for clear answers from the government on when resource projects like Papua LNG and the Pasca A offshore oil and gas project will be operational. According to Rio Fiocco, head of the Port Moresby Chamber of Commerce and Industry, there had been rumors of agreements being signed or close to being complet...

Bougainville has the potential to become a strong local economy that is recognized nationally and internationally.  ABG Minister for Commerce, Trade and Industry Hon. Patrick Nisira said this when speaking on Trade and Investment in Bougainville during the parliament session this week in Buka. Minister Nisira had recently announced that ‘Bougainvill...

Anti-corruption efforts in Papua New Guinea have received a big boost from the European Union, which will invest €5.4 million (about K21.7 million) over three years. Dirk Wagener, a national representative for the United Nations Growth Programme (UNDP), said during the inauguration of an anti-corruption program in Port Moresby that corruption has hampe...

Treasurer Ian Ling-Stuckey applauded the International Monetary Fund's declaration that it will expand aid options for nations affected by the COVID-19 epidemic. These new alternatives will offer nations with money in the Special Drawing Rights, or SDRs, of the International Monetary Fund. The IMF has also stated that it is considering adding to its...

According to Lucas Alkan, the chairman of the PNG Extractive Industries Transparency Initiative (PNGEITI) national secretariat, the new report is more thorough than previous ones. It mirrored data gaps and suggestions in earlier studies, according to Alkan, in order to enhance openness and accountability in the mining and petroleum industries. The r...

Ben Wong has been named temporary chief executive officer of Paradise Foods Ltd for a three-month period. Wong had had senior leadership positions in international corporations and the fast-moving consumer goods industry before joining the company as the group chief financial officer in September 2019, according to Chairman Anthony Smaré. James Rice...

The PNG Extractive Industries Transparency Initiative (PNGEITI) will extend to include three additional non-renewable industries, according to Chris Tabel, deputy head of the national secretariat. The forestry, agricultural, and fisheries industries, according to Tabel, sought to imitate the EITI model. He said that the EITI policy, which is present...

Photo Credit: PNGEITI / Lucas Alkan Among the 35 nations on the Extractive Industries Transparency Initiative list, the Papua New Guinea Extractive Industries Transparency Initiative has made significant progress. The EITI website listed 55 countries incorporated into individual countries at various stages of implementing the EITI Standard; nine cou...

PNG Ports Corporation is redeveloping and investing in its ports in the future as part of its 30-year master plan. Rodney Begley, the chief operating officer of the PNG Ports Corporation, said the company completed a 30-year master plan 18 months ago that included evaluations of every port in the country. “We did an economical assessment, environmen...

The Independent Consumer and Competition Commission (ICCC) has rejected Link PNG's proposal to purchase shares in PNG Air Ltd for the second time. PNG Air Ltd had asked Link PNG Ltd to buy 40% of the company from the National Superannuation Fund and 9% from other shareholders. Last week, the consumer and competition watchdog said that after completi...

Morobe Governor and Deputy leader of the ruling Pangu Pati Hon Ginson Saonu today opened the PNG Extractive Industries Transparency Commission Bill Momase Regional consultation in Lae and gave his backing for the establishment of the Extractive Industries Transparency Commission. He welcomed a State Technical working group comprising the Department of ...

Indonesia border at Wutung Photo: RNZ / Johnny Blades Indonesian Ambassador to PNG, H.E Andrias Supandi has paid a courtesy call on Prime Minister James Marape recently during which they discussed new and ongoing issues of mutual concern. The leaders discussed cooperation on COVID-19 and the reopening of the border, among other things. Both agree...