Discussions are underway to establish a sister-city initiative between Papua New Guinea's Capital Port Moresby and Da Nang city in Vietnam. This was agreed to in a bilateral meeting between Foreign Affairs Minister Justin Tkatchenko and Vietnam’s Foreign Minister Bui Thanh Son during the APEC Summit in Bangkok, Thailand. PNG Minister Tkatchenko, who...

Following the government's Budget 2023 proposal to hike corporation tax from 30% to 45%, Kina Bank is abandoning all of its plans to grow by opening additional offices nationally. Greg Pawson, the chief executive of Kina, stated that the bank was against any rise in corporate tax on the banking industry. “To put into perspective, it is an additional...

Photo: Richard Maru. Credit: Richard Maru Facebook Page Richard Maru, the minister of foreign trade and investment, says he is eager to promote trade and investment with Indonesia. “Our people go to the border to trade with Indonesia. There is big trade happening there, but our two governments have not made the time to enter into a formal trade and ...

Photo: Deputy Prime Minister John Rosso  Deputy Prime Minister John Rosso has said that the 2023 National Budget will focus on law and order to ensure confidence in economic development activities. Mr Rosso who is also the Lands and Physical Planning Minister further hinted during grievances debate in Parliament. He said the budget will also focu...

Additional company tax on the banking sector will increase from 30 to 45 percent treasurer Ian Ling-Stuckey said when presenting the 2023 budget in parliament recently. This is expected to raise K240 million in 2023 to fund core vital services. The additional company tax was initially imposed on companies declaring huge profits such as BSP and Digicel ...

Photo: Musje Werror The Board of Ok Tedi Mining Ltd announced that it has accepted the resignation of Managing Director and CEO, Musje Werror. OTML Board Chairman, Dr. Roger Higgins, made the announcement today. Dr. Higgins thanked Mr Werror for his contribution to Ok Tedi over many years, starting as a graduate trainee, working across all aspect...

Photo: Treasurer Ling-Stuckey delivers the 2023 Budget in Parliament today. Picture courtesy of PARLIAMENT MEDIA Prime Minister Hon. James Marape says the K590 million in cost-of-living relief, provided for in the biggest-ever K24.567 billion 2023 Budget handed down recently (November 29, 2022) by Treasurer Hon. Ian Ling-Stuckey, shows that it is a “Pe...

The Port Moresby Chamber of Commerce and Industry (POM CCI) held its 67th Annual General Meeting at the Lamana Hotel on the 24th of November 2022 , present to witness the occasion were its members, executives and various stakeholders.  The meeting was officially opened by the President and Master of Ceremony Mr. Rio Fiocco who gave his opening remarks ...

Prime Minister Marape headlines a star line-up of speakers at the 16th PNG Mining and Petroleum Conference, in Sydney in December, to promote international investment in PNG.   Already over 1000 attendees are registered to attend, as the Conference features a dynamic and engaging program centered around Prime Minister Marape’s announcement of 4 new mega p...

Photo: PM Marape and Governor Bird in discussions with representatives of Pacific Elite Palm Oil Group in Singapore on Monday (November 21, 2022). Prime Minister Hon. James Marape has given his support to development of the oil palm industry in Papua New Guinea on a massive scale. PM Marape gave his support after he and East Sepik Governor, Hon. All...

Photo: PM Marape and Chinese President Xi Jinping before their bilateral meeting in Bangkok, Thailand, on the sidelines of APEC 2022. Prime Minister Hon. James Marape says Chinese President Xi Jinping has given him an undertaking to buy more or all that Papua New Guinea produces. The undertaking was made during a bilateral meeting between President ...

Photo: Mr Musje Werror The Ok Tedi Mining Limited (OTML) Board Chairman Dr. Roger Higgins is concerned with the media reports on the purported removal of Mr Musje Werror. Mr Werror remains the Managing Director and CEO of OTML. Dr. Higgins makes particular reference to and agrees with the statement by the Minister for State Enterprise Hon. Willia...

Photo credit: PNGEITI - Porgera Mine The Porgera chamber of commerce and industry hopes that the re-opening of the mine will go ahead as planned. Chamber president Nickson Pakea said the mine must be re-opened next month as announced recently by Prime Minister James Marape. Pakea said the mine closure had led to criminal activities. “The mine ...

Photo credit: Shuttershock The government rating's outlook has been improved by Moody's Investors Service from "negative" to "stable." The move from negative to stable is attributed to "a stabilisation in the Government's debt load coming in part from the positive terms of trade shock from better global prices for Papua New Guinea's commodities expo...

The Queensland government through the Ministry of Treasurer and International Trade and Investment will be appointing a Queensland Trade Commissioner for the Pacific by next year 2023. This is part of the Queensland government’s effort in strengthening the trade, economic and relationship that exists between Papua New Guinea and Queensland. Queensla...

Photo credit: Papua New Guinea Today The Papua New Guinea Independent Commission Against Corruption (ICAC) launched its Anti-Corruption and Integrity Strategy 2023-2025 in Port Moresby recently. The two-year Strategy is a roadmap for combating corruption within ICAC. The document is an outcome of a Memorandum of Understanding between ICAC and its...