Search Results: 2022

Group photo with the Tourism Minister and agency heads of the NCC and NMAG, including the board, management and staff of the PNG Tourism Promotion Authority.  Credit: Roan Paul Photography The Tourism Promotion Authority proudly launched its four-year Corporate Plan 2023-2026, at The Stanley Hotel in Port Moresby, last week Friday 17th March, 2023.  ...

Photo: PM Marape meeting with the Korean delegation leader Park Byeong-seug, who is representing Korean President H.E. Yoon Suk Yeol. Trade between Republic of Korea and Papua New Guinea was worth US$1.8 billion (K6.33 billion) in 2022, a massive 240 per cent increase from 2021, according to a high-level Korean delegation visiting PNG. The delegatio...

Photo Credit: Papua LNG - Map showing 260 km of offshore pipeline and 60 km of onshore pipeline extending from Elk and Antelope fields to Caution Bay On March 07, 2023, in separate announcements, Santos, TotalEnergies, and Exxon announced the Papua LNG project had launched the first phase of a fully integrated front-end engineering and design (FEED) fo...

Photo credit: PNG Tourism Promotion Authority The Tourism Promotion Authority (TPA) has confirmed that over 100 cruise liners will be visiting PNG this year, bringing in an estimated US$40 million (about K137.10 million), according to an official. During the launch of the TPA Corporate Plan 2023-2026 in Port Moresby on Friday, CEO Eric Uvovo stated tha...

Photo credit: EMTV Kumul Minerals Holdings Ltd (KMHL) has made a significant contribution to the State, paying K105 million in dividends. The payment was handed over to State Enterprises Minister William Duma by KMHL Chairman Dr Ila Temu. Speaking about the dividend payment, Dr Temu said, "Kumul Minerals hold 67 per cent in Ok Tedi, through the Governm...

Photo: On January 17th, Ambassador Jacques Fradin met with Hon. Mannaseh Makiba, Minister for Bougainville Affairs, to discuss important matters of mutual interest. Photo credit: European Union in Papua New Guinea European Union (EU) shares the same values of nation building as Bougainville according to Ambassador Jacques Fradin, Head of Delegation to ...

Photo: Looking back: Happy memories with the locals at Yandera, Madang Province in 2014. From 2006 until 2014, the Yandera Project was owned and managed by the Australian company, Marengo Mining Limited, with Mr Les Emery as their CEO. (Photo credits: Mr Les Emery) The Yandera Project in Madang Province, PNG, is considered to be one of the world's larg...

Photo: Kedi Ilimbit The Ok Tedi Mining Limited Board of Directors has appointed Kedi Ilimbit as the Acting CEO of the Company at its meeting on Wednesday 08th March. The appointment is in accordance with Mr Ilimbit’ s current position as the Deputy CEO and General Manager Community & Operations Support. The OTML Board acknowledges Mark Thomps...

Photo: NSL CEO and Deputy CEO in a recent radio interview. Credit: NSL Nambawan Super Limited is expecting a negative outcome on its 2022 returns as some of its investments have come under pressure due to the combination of high inflation, supply chain disruption, and the rise in fuel and energy prices. This also includes the introduction of the add...

Photo: Indian High Commissioner to PNG, Inbasaker Sundaramuthi Papua New Guinea is one of the best and most ideal places on earth for tourists. White sandy beaches, beautiful people, and local traditions are among some experiences the country has to offer to its visitors. Recently, Indian High Commissioner to PNG, Inbasaker Sundaramuthi, revealed th...

Photo: Panguna Mine - Credit: Ilya Gridneff/AAP The Department of Mineral and Energy Resources (DoMER) has set its strategic objectives for the next five years, according to Secretary Mr. Peter Kolotein. These are being captured in the Bougainville Integrated Strategic Development Plan (BISDP) 2023-2027 and the DOMER Strategic Plan 2023-2027 to be l...

PNGX, Papua New Guinea’s national stock exchange, has today released a proposed new Corporate Governance Code for Listed Issuers for public consultation. PNGX is proposing to introduce a new Corporate Governance Code for the guidance of Boards of listed issuers. The proposed Code contains 17 Standards. Within each of the 17 Standards are a number of...

Santos recently announced the Papua LNG joint venture has launched fully-integrated front-end engineering and design (FEED) for the Papua LNG project in Papua New Guinea. Papua LNG is expected to have liquefaction capacity of up to six million tonnes of LNG per annum with first production expected by the end of 2027 or early 2028. Following pre-FEED...

Photo: PM Marape with France President H.E. Emmanuel Macron in Libreville, Gabon. Prime Minister Hon. James Marape says his bilateral meeting with France President H.E. Emmanuel Macron is very good for relationships between France and Papua New Guinea. He said this after the two leaders met in Libreville, Gabon, on the sidelines of the ‘One Forest S...

Photo credit: World Bank / Denisa Maňásková, 2023 The World Bank has predicted that Pacific economies will return to growth this year after three years of economic contraction due to the COVID-19 pandemic. Stephen Ndegwa, the Country Director of Papua New Guinea and the Pacific, noted that "Pacific countries' economic prospects were clearly improvin...

Photo: Greg Pawson. Credit: Kina Bank Facebook Page Kina Bank's CEO and Managing Director, Greg Pawson, has called for more competition in the banking sector in Papua New Guinea. According to Pawson, the recent 50% increase in corporate income tax to 45% will make it difficult for other banks to compete. He also stated that the decision to increase the...

Photo: BSP’s Acting Group CEO Ronesh Dayal BSP delivers a record K1.136 billion underlying profit, with BSP’s statutory profit reducing to K1.081 billion once the impacts of the new PNG government taxes are applied. Consequently, BSP’s shareholders K1.74 full year dividend was only marginally higher (0.6%) than the prior year’s K1.73. According to B...

Photo: Steamships new head office, the completed @345 on Champion Parade, formerly Burns House. Port Moresby listed Steamships Trading Company Ltd has announced a stronger than expected year in 2022, for the group, as the PNG economy recovered well from the constraints imposed as a result of the COVID-19 pandemic. 2022 results show improved revenue acr...