The newly formed Monetary Policy Committee (MPC) of Papua New Guinea has kept the Kina Facility Rate (KFR) unchanged at 4.0%, while lowering the Cash Reserve Requirement (CRR) to 11%, in its inaugural meeting held on March 11. The decisions were announced in a media release issued by Bank of Papua New Guinea (BPNG) Governor Elizabeth Genia, who chairs ...

In the lush plains of Cape Rodney in the Abau District, within Papua New Guinea’s Central Province, more than a thousand rubber trees stand as silent witnesses to decades of agricultural ambition and, more recently, to a growing sense of abandonment. Once a hub of rural enterprise and a key player in the nation’s cash crop economy, the region’s rubber ...

The Kerowagi District in Papua New Guinea's Simbu Province recently launched the Kerowagi Rugby Football League (KRL) Commissioning as part of the government's efforts to empower youth and develop communities through sports. Member of Parliament Hon. Francis Kikin Siune, in an exclusive interview with PNG Business News, emphasized the district's motto,...

Cricket Papua New Guinea (CPNG) recently received support through a partnership between the Australian Defence Force (ADF), the Australian government PacificAus Sports program, and Cricket Australia (CA). Representatives from the ADF presented approximately 20 boxes of Cricket Australia merchandise to Cricket PNG in a handover ceremony held at Amini P...

The Cape Rodney Farmers & Settlers Association (CRFSA) in Abau District, Central Province is leading Papua New Guinea’s rubber production push with an ambitious development plan. The group announced a 10-year plan to cultivate 100 million rubber trees across the country, potentially turning thousands of hectares of arable land into productive rubbe...

Port Moresby buzzed with cultural displays and insightful discussions as Papua New Guinea inaugurated its National Tourism Conference and EXPO on April 9, marking 50 years of showcasing the nation to the world and heralding a new era of sustainable and inclusive tourism. Under the theme "Indigenizing Culture, Modernizing Infrastructure, and Promoting P...

The Chair of the Monetary Policy Committee and the Governor of the Bank of Papua New Guinea (BPNG), Elizabeth Genia, hosted a breakfast presentation on the 2025 Economic Outlook of PNG at the Royal Papua Yacht Club on April 9. Genia spoke on the March 2025 Economic Outlook, outlining sweeping changes in monetary policy, economic trends, and financial s...

Remington Technology has once again been recognised by Konica Minolta with the Sales Achievement Award for the Pacific Island region, after exceeding our annual sales target for the second year in a row. As Papua New Guinea’s only authorised Konica Minolta dealer, this back-to-back win highlights the strength of our partnership and the results our team...

After a rebound in economic growth in 2024 at 4.3% driven by both resource and non-resource sectors, Papua New Guinea’s (PNG) economy is forecast to grow by 4.2% in 2025 and moderate further to 3.8% in 2026 amid development challenges and rising geoeconomic risks, says the Asian Development Outlook (ADO) April 2025. Power blackouts, security challenges...

Prime Minister Hon. James Marape, while launching the inaugural PNG National Tourism Conference and Expo recently at the Hilton Hotel, highlighted that tourism, along with agriculture and fisheries, holds the greatest potential to significantly transform PNG’s economy and foster inclusive development across communities. Prime Minister Marape said given...

Economic growth in the Pacific is projected to moderate to 3.9% in 2025 and 3.6% in 2026, according to the Asian Development Outlook (ADO) April 2025, the Asian Development Bank's (ADB) flagship economic publication, released today. The outlook reflects anticipated easing in tourism, a key growth driver in many economies in the subregion, and muted petrol...

Prime Minister Hon. James Marape has reaffirmed his government’s commitment to energy reform, economic transformation, and responsible leadership as Papua New Guinea approaches its 50th year of independence. The Prime Minister was speaking at the National Power Sector Forum, jointly hosted by the Government of Papua New Guinea and the Asian Development...

Prime Minister Hon. James Marape has issued a powerful call to action for Papua New Guinea to transform its agriculture sector through unified public-private partnerships, during the official opening of the National Agriculture Industry Public–Private Sector Partnership Conference in Lae. The five-day conference, which ran from 7–11 April 2025, brought...

Prime Minister Hon. James Marape has reaffirmed agriculture as the cornerstone of Papua New Guinea’s future economic growth, urging all stakeholders to rally behind a united national effort to unlock the full potential of the agriculture sector. Delivering the keynote address at the closing of the National Agriculture Industry Public-Private Sector Par...

Westpac is pleased to announce the appointment of Andrew Cairns as its new Chief Executive for Papua New Guinea, effective immediately. Andrew brings extensive leadership experience across banking, social finance, telecommunications, and corporate social responsibility. Having worked in Australia, the South Pacific, Asia, and the USA, he has a proven t...

Ok Tedi Mining Limited’s (OTML) Managing Director & Chief Executive Officer (CEO), Kedi Ilimbit, has congratulated The North Fly District Development Authority (NFDDA) and the PNG Sustainable Development Program (SDP) on the successful opening of the new Kiunga Airport Terminal. Mr Ilimbit made the comments following the opening of the terminal and...

Petroleum Minister, Hon. Jimmy Maladina has invited China State Construction Engineering Corporation to look at the petroleum industry as a choice of investment saying Papua New Guinea has a lot of potential. Minister Maladina told Mr. Wen Bing, the President of Chinese construction giant, the China State Construction Engineering Corporation (China Sta...

Compliance to policies, mining laws and upholding ethical values have been the corner-stone of the Mineral Resources Authority’s (MRA) delivery of regulatory services to the country’s mining industry and government, said the MRA’s Managing Director Jerry Garry. Mr Garry was speaking during the hand-over, take-over ceremony of the Mining Ministry betwee...

The country’s total mineral export revenue in 2024 was K19 billion said Mineral Resources Managing Director Jerry Garry. It is expected that this year, total export revenue will be K30 billion, subject to gold price, low exchange rates, and attainment of full production in Porgera Mine. Mr Garry made these announcements during a hand-over, take-over...

The Minister for International Trade and Investment, Hon. Richard Maru, officially discharged the Papua New Guinea (PNG) team to the World Expo 2025 in Osaka, Japan which will be held from April 13 to October 13, 2025. “The Commissioner General of Section PNG, Ambassador Gabriel Dusava and his core team will depart this weekend, and in the coming weeks...

The Minister for International Trade and Investment, Hon. Richard Maru, after his visit to Finschhafen in Morobe Province today says he is impressed with the proposed Finschhafen Integrated Special Economic Zone (SEZ). Minister Maru visited the proposed hydro sites and the locations for the proposed limestone mining project and cement production, and t...

Mayur Resources Limited is pleased to provide an update on the construction progress at the Central Lime Project (CLP), located in Papua New Guinea. Development activities continue, with significant milestones achieved in wharf construction, site preparation, and early infrastructure works. The Company continues to de-risk the Project through strategic...

The Papua New Guinea Chamber of Resources and Energy (PNG CORE) provides further details on its Climate Change Policy initiative to address the challenges and opportunities of climate change in Papua New Guinea (PNG). This policy aligns with the International Standard for Sustainable Development and emphasises PNG CORE’s commitment to collaboration and...

Kumul Petroleum Holdings Limited (KPHL), Papua New Guinea’s national petroleum and energy company, has successfully completed its seismic acquisition campaign across the Kimu and Barikewa petroleum retention licences, where it acts as operator. KPHL Managing Director Wapu Sonk confirmed the milestone, stating: “On Wednesday, 26th March, we complet...