Papua New Guinea's central bank 'determined' to get foreign currency in, says Bakani
he Governor of the Bank of Papua New Guinea, Loi Bakani, told this week's Australia–Papua New Guinea Business Forum in Cairns that the bank is 'determined' to obtain more foreign currency 'as soon as possible' to address the backlog in foreign exchange demand. However, he criticised claims that PNG's foreign exchange problem could be solved by allowing a free float of the kina, reports David James. Read on...
Local developer's mobile apps making it easier to do business in Papua New Guinea
From self-service to bringing buyers and sellers together, software developer Shadrach Jaungere's smartphone apps are making it easier for Papua New Guineans to do business. And there are more to come, reports Kevin McQuillan. Read on...
Commodity price falls creating currency volatility, says analyst
The kina has fallen in value this year, but Papua New Guinea’s dependence on commodity exports means that it can be expected to fall further, says Rohan Fox, Lecturer and Research Fellow at the University of Papua New Guinea’s Division of Economics. He tells Business Advantage PNG that the country faces a difficult task managing the impact of sharp fluctuations in commodity prices. Read on ...
Lae Chamber of Commerce call for action over lack of foreign exchange, and other business stories
Lae business leader warns of job cuts if forex problem not solved soon, Tourism Minister says PNG lags behind Vanuatu and Fiji in tourism spend, and 1,000 SMEs to close when asylum seeker centre closes. Your weekly digest of the latest business news. Read on..
Nambawan Super, CPL Group
A new Chief Financial Officer at Nambawan Super, and board re-appointments at City Pharmacy Group. Read on...