Growing the number of skilled workers in the country means growing Papua New Guinea’s Technical Vocational Education and Training (TVET) sector. This was an initiative by Australia and Papua New Guinea through the Comprehensive Strategic and Economic Partnership which was signed during the virtual summit leaders of Prime Ministers James Marape and Scott M...

After submitting its 2018 audit results, PNG Air says that it can continue trading on the PNG National Stock Exchange (PNGX). According to Chief Executive Anthony Pereira, the company has already passed to PNGX its 2017 report. “2017 audited accounts were signed off today (Tuesday) and a copy was handed over to PNGX Markets while 2018 is expected to be si...

In January 2021, the City Pharmacy group of companies welcomes Navin Raju as group CEO. Raju will replace Sir Mahesh Patel as the latter will focus on his duties as the CPL Foundation Chairman and will remain on board as a non-executive director. According to CPL Group Chairman Stan Joyce, who announced the appointment, Mr. Raju is the perfect fit to take...

To continue the development and construction of the Lae-Nadzab four-lane road in the province of Lae Morobe, the government has allocated K19 million. This news is according to Deputy Prime Minister and Minister for National Planning and Monitoring and Member for Bulolo Sam Basil who added that the funding has already been made to the contractor, China Ra...

According to the Kina Bank, investment from resource projects is a prerequisite to medium-term economic growth in PNG. Its mid-year outlook has noted that the estimate of the International Monetary Fund would shrink by 4.9 per cent this year. “PNG, by comparison, is expecting a relatively modest 2 per cent fall in the real gross domestic product (GDP),” t...

According to an economist, many of the Pacific Island countries that rely much on tourism such as Vanuatu and Fiji have been hit hard by the pandemic. Institute of National Affairs Executive Director Paul Barker said the pandemic had caused PNG a major drop in commodity prices such as gas and copper, adding that the government had been “in a severe budget...

The Gobe Haus which was a K26.5 million investment by the Mineral Resources Development Company (MDRC) has brought assets to the company in PNG and the Pacific to a total of K6 billion. According to MRDC board chairman Isaac Lupari, MMDRC’s most recent development was the three-storey office building in Top Town. Deputy Prime Minister Sam Basil expressed ...

The year 2021 will witness Papua New Guinea revealing all agreements related to oil and gas, and mining. This, according to the Head of PNGEITI National Secretariat Mr. Lucas Alkan, who added that all contracts and MOUs signed between two parties next year are required to be disclosed to the public. “The current practice in Papua New Guinea is that once t...

To help with the upcoming 2022 national elections, Prime Minister James Marape said that the government intends to use the biometric voting system. According to him, This same system had been used in different recent elections such as the Goroka Open by-election, the Kupiano ward by-election, Abau, Central, the local level government by-election for the P...

Papua New Guinea’s corporate sector is increasingly embracing gender equality and understanding the importance of women leaders to organisational success and profitability. Never before have so many talented PNG business women been sent on so many leadership courses. However, the extent to which businesses are providing the right environment for their tal...

The ICCC Appointments Committee has recently re-appointed Paulus Ain as the Commissioner and Chief Executive Officer of the Independent Consumer and Competition Commission for the next five years. This was made official by the National Gazette No. G669 of 6th October 2020.Commissioner Ain expressed his gratitude to the government for its decision. He said...

PNGX, Papua New Guinea’s national stock exchange, has recognised JMP Securities Limited (JMP) - which began trading last October 6, 2020 - as a new participating organisation. In a statement, PNGX Chairman David Lawrence, said, “PNGX is very pleased to have JMP Securities joining the market as a new stockbroker. It reflects confidence in the growth opport...

With the support of PNG-Australia Partnership, the Department of Treasury and Asian Development’s Bank (ADB), Private Sector Development Initiative (PSDI), and the Investment Promotion of Authority (IPA) signed a Memorandum of Understanding (MOU) to make doing business together in Papua New Guinea easier and more convenient.Under the MOU, PSDI supports th...

Survival is the first primary focus of businesses following prolonged lockdowns and ‘new normal’ brought on by the global Covid-19 pandemic that has impacted everybody worldwide. This was the crux of the message from acting CEO of PNG Air, Mr Anthony Pereira during a recent interview with PNG Business News at their 7 Mile head office, in Port Moresby. Whi...

PNG is just ripe for new developments. With six multi-million projects valued at K133 billion in the pipeline, the country is just waiting for approval from the government.According to Prime Minister James Marape, the government has been in careful consideration with project developers so that the State and the landowners can have their “fair share''.”“Fo...

The world’s largest shipping group, China Ocean Shipping Company (COSCO) has partnered with the PNG Ports Corporation Limited to expand its services across PNG with bi-monthly vessel calls through Inchcape Shipping Services as its local PNG agents.Its maiden voyage was the container ship. Hansa Cloppenburg, soon to be followed by Tokyo Trader on October 2...