What measures are in place to ensure transparency and good corporate governance in the sector?
Financial Services
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Banks may have to adopt a policy of caution over the coming months, waiting to see how the dust settles from Egypt’s long-running political turmoil and how the installation of Mohammed Morsi as head of state will affect the economy and their business.
The largest of the Pacific Island nations, Papua New Guinea (PNG) occupies the eastern half of New Guinea and hundreds of nearby islands. A mountainous and forested terrain has led to astonishing cultural and linguistic diversity, even as it inhibited development.
Economic update | Kuwait: Improving transparency
30 Jul 2012
New corporate governance rules announced by the Central Bank of Kuwait (CBK) in June should continue to strengthen the banking sector and address issues that have been attributed to a weak corporate governance framework.
PNG’s insurance sector is seeing strong growth from a low base, with general insurance assets rising from PGK700m ($333m) in 2006 to PGK1.2bn ($571m) in 2009. Given the relative newness of insurance products to the country’s populace, non-life premiums outweigh life. High-volume subsectors include property, motor and civil construction insurance, but most of the major projects that fuel PNG’s...
Chapter | Capital Markets from The Report: Papua New Guinea 2012
With only 20 firms listed, the Port Moresby Stock Exchange (POMSoX) is subject to volatility, but market capitalisation is on an upward growth trend. Like the country’s formal economy, the bourse is dominated by mining and energy firms, along with related sectors like financial services and transport. PNG also has a thriving primary bond market, driven by commercial banks purchasing T-bills and C...