Search Results: 2022

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...

Photo: Greg Pawson Kina Securities Limited, has reported an underlying net profit after tax of K106.1 million for the financial year 2022, representing a 10.3% increase from the prior corresponding period (PCP). Kina’s CEO, Greg Pawson, said that the result was "pleasing" and demonstrated the company's commitment to its strategic plan. He also highligh...

Photo: Prime Ministers Marape and Rabuka in Suva, Fiji Prime Minister Hon. James Marape says Fiji and Papua New Guinea must work together for the greater good of the Pacific Islands’ family of nations. He said this on Tuesday (February 21, 2023) after a bilateral meeting with Fiji Prime Minister Hon. Sitiveni Rabuka in Suva. PM Rabuka is also Chair ...

Photo: An empty service station at 8-Mile in Port Moresby after the fuel bowsers ran dry. The Government is now in serious discussions with Kumul Petroleum Holdings Ltd (KPHL) and three multi-national petroleum companies to find solutions for the fuel shortage in the country, with a major announcement expected soon, Prime Minister Hon. James Marape has...

Photo: Prime Ministers Albanese and Marape at Commander’s Beach at Moem Barracks in Wewak last month.- PM’s Office Media Prime Minister Hon. James Marape has welcomed the successful outcomes of the 29th Australia–Papua New Guinea Ministerial Forum which was held in Canberra, Australia, on February 17, 2023 “I welcome the outcomes of the very-success...

Photo: Managing Director with three awards: International Travel Award-Best Boutique Hotel 2022, World Luxury Hotel Award - Luxury Business Hotel 2022, and Luxe Global Awards-Best Luxury Hotel & Conference Center 2022 Situated at a hilltop haven at the center of Port Moresby overlooking the Seaview of Ela Beach is the remodeled, prestigious, and mo...

Photo credit: Geopacific Resources Geopacific Resources Limited is pleased to provide an update on corporate and project activities conducted at the Woodlark Gold Project together with an outline of planned future work programs for 2023. Outcomes from 2022 In February 2022 Geopacific announced suspension of development activities at the Project d...

Photo: 2023 Regional Tourism Consultation Workshop participants made up of the New Guinea Islands tourism industry and the PNG Tourism Promotion Authority.  The Papua New Guinea (PNG) Tourism Promotion Authority (TPA) has commenced a series of regional consultations on the development of a new PNG National Tourism Policy and Marketing Strategy. The ...