In line with the downward cyclical trend still buffeting the industry globally, the mining sector in Papua New Guinea remains in a cooling period in terms of exploration and production activity. To counter act tighter profit margins brought on by sluggish global demand for minerals and the corresponding drop in commodity prices, mining companies across PNG have responded by increasing...
Much of Papua New Guinea’s economic success over the past decade, along with its prospects for future growth going forward, can be tied directly to the energy sector. The efficient construction and operational launch of the country’s first liquefied natural gas (LNG) programme the $19bn PNG LNG project not only secured unprecedented foreign direct investment (FDI) into the country and provided...
In Papua New Guinea insurance makes up a small part of the economy by international standards, with the penetration rate at less than 2% of GDP compared to a global average of 7.5%, according to the UN Development Programme. Insurance in the country is also a sector of great opportunity. Access is straightforward given the regulations and low capital requirements, so international...
After a number of challenging years, Papua New Guinea’s capital markets seem to be finding their footing and may be on the cusp of great and positive change. In 2015 the country had its first initial public offering in three years, and it was a significant listing: a major local financial services group with part ownership of the stock exchange. Also, in 2016 a key stock started trading again...
Papua New Guinea’s banking sector is adjusting to the slowing of economic growth and to the foreign exchange shortage that is affecting local businesses. However, despite many challenges, the institutions remain well capitalised and highly profitable, and in some cases are maintaining positive profit growth. More than just holding its own, the sector is developing in significant ways that...
Situated at the eastern-most point of the New Guinea islands and in a different time zone from the rest of Papua New Guinea, the Autonomous Region of Bougainville is composed of two large islands, Buka and Bougainville, separated by a narrow tidal channel. Together with 168 smaller islands and countless atolls, it forms an archipelago that is geographically, geologically and culturally closer...
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