Nine members of the PNG delegation to the Dubai Expo, led by deputy commissioner Jacinta Manua, have already departed the country. They will erect the Papua New Guinea pavilion. “This is an important exercise which will go right throughout the world,” Manua said. “We have been preparing for over a year or so and are now ready for Dubai.” Forei...

Malaysia has a $5 billion (K17 billion) investment in Papua New Guinea, according to Mohamad Nasri Abdul Rahman, Malaysia's High Commissioner to PNG. Nasri stated that Malaysia was delighted and looking forward to contributing more to PNG's socio-economic development at the Malaysia Day celebrations over the weekend. “Both countries have been workin...

A new World Bank report on the challenges facing the Pacific region’s outer island communities identifies investment in people and livelihoods as a key for inclusive economic growth.     Archipelagic Economies: Spatial Economic Development in the Pacific looks at the challenges Pacific governments must address to provide services and infrastructure to ...

Telikom PNG Ltd interim chief executive officer Amos Tepi said the Telikom-bmobile merger should be finalized by the end of the month. Tepi stated that the merger was roughly 85% complete. “We are just looking at the regulatory and legal aspects and once that is over, we are going over the line so we should meet the deadline,” he said. “It’s all ...

The Independent Consumer and Competition Commission and the National Information and Communication Technology Authority have signed a memorandum of understanding to handle customer ICT concerns. According to ICCC Commissioner Paulus Ain, there has always been a missing connection between the ICCC and the NICTA in terms of where the legislation stands i...

David Manning, the Police Commissioner and Controller of PNG's National Pandemic Response, has approved the release of new measures to combat the COVID-19 pandemic. These new measures, which took effect on September 15, 2021, were developed in response to the ongoing threat of COVID-19 while also ensuring continuity and normalcy in all aspects, accordi...

According to PNGX chairman David Lawrence, listing on the PNG Stock Exchange (PNGX) for the benefit of PNG investors should be a requirement for doing business in the nation. After Santos said it had entered into a merger implementation agreement with Oil Search PNG Ltd, Lawrence said that the firms had not stated whether Santos will be listed on the P...

Kina Securities Ltd's attempt to purchase Westpac PNG Ltd was denied by the Independent Consumer and Competition Commission (ICCC) (Westpac). After going through the ICCC Act's procedures, ICCC commissioner and chief executive officer Paulus Ain verified this. On March 17, Kina Securities submitted an application to purchase 89.91 per cent of Westpa...

Retail internet rates would be decreased by around 50% by the end of next year, according to Dataco PNG Ltd chief executive officer Paul Komboi. Wholesale prices had already been slashed by nearly 40%, he said at an investment conference. However, due to market competition, it was not cut at the retail level. “I hope in 2022, we will see at least...

According to PNG Ports Corporation chairman Kepas Wali, the Motukea international port facility west of Port Moresby will undergo a multi-million kina makeover next month. It is estimated that the repair and reconstruction work will take ten months and cost K56 million. “The pavement covering the Motukea international terminal surface has deteriorat...

Market capitalisation will drop by 30 per cent if Oil Search leaves the PNG Stock Exchange (PNGX) due to a possible Santos merger, says PNGX chairman David Lawrence. The PNG stock market is currently valued at K120 billion, according to the PNG Securities Commission, with 13 businesses listed. According to Lawrence, Oil Search is an important compon...

Head of the PNGEITI Mr Lucas Alkan last week in Wabag at the opening of the consultation. The Head of the PNG Extractive Industries Transparency Initiative (EITI) Mr. Lucas Alkan has issued a strong challenge to stakeholders in the extractive industries to embrace and promote the work of EITI in Papua New Guinea to derive best value from the industry. ...

According to Nambawan Super Ltd, the 6% of wages that people must put to superannuation after income tax is too excessive. Chief Executive Officer Paul Sayer said the majority of members will pay at least 22% income tax on their employee contributions. He claimed it was unjust since some members would pay up to 42 per cent of their gross revenue in ...

Photo Credit: The Australian -  Telstra CEO Andy Penn According to a source, Australia's Telstra CEO Andy Penn visited the nation last month to negotiate the possible acquisition of Digicel Pacific. According to the Australian Financial Review, Penn visited PNG to discuss the prospective purchase of Digicel Pacific with the country's political autho...

The government has improved its economic management to ensure that billions in concessional discoveries are brought into the country to help alleviate the country's currency problems. In a recent speech to Parliament, Treasurer Ian Ling-Stuckey stated. that the government is now attempting to assist businesses in creating a favourable climate. “Busi...

An economist claimed that earning more foreign cash through exports than imports is a simple strategy to ensure adequate foreign exchange. This was said by Corinna Economic Advisory economist Saul Eslake recently. Agriculture, he noted, was PNG's export strength. “PNG authorities need to manage the economy carefully that is through a monitoring p...