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PNG’s banking sector is dominated by three major players: BSP, ANZ and Westpac. The challenges they face are familiar to emerging markets, including limited capital, riskier commercial loans and a largely unbanked population. The current issue is an excess of liquidity, as banks have accumulated plenty of cash through a build-up of foreign exchange reserves, yet are hesitant to lend it out. To...

PNG’s GDP grew 8.9% in 2011, thanks in large part to the fact that construction work on the PNG LNG project is in full swing. While growth likely cannot sustain such a high pace, government officials hope that revenues from the LNG facility will catalyse an economic transformation. Analysts, however, are worried about Dutch disease, where resource-driven growth drives inflation and makes local...

This chapter focuses on PNG’s rich natural resources, its ethnic diversity and relations with regional neighbours, with a specific focus on trade between mineral-rich PNG and resource-hungry China. This chapter includes viewpoints from Prime Minister Peter O’Neill; Julie Bishop, Australia’s Shadow Minister for Foreign Affairs and Deputy Leader of the Opposition; and William Hague, UK Secretary...

This chapter provides information about RAK’s geography, economy, population, natural resources and political system. It also includes an overview of the large-scale development programmes that have been put in place in RAK over the past 10 years – projects that have aided the emirate’s reputation as an up-and-coming player in the Middle East and further afield. The industrial sector, which today...

With one of the best health care sectors in the Middle East, Jordan is the regional leader for medical tourism. The Ministry of Health (MoH) is working to boost efficiency and reduce wasted expenditure through initiatives such as the development of an e-health platform. This will provide an electronic platform for the storage, retrieval and updating of electronic health records, and will be...