“It is a big market and demand is very strong. Between the first half and second half this year, demand growth is almost about 2 million barrels (per day), which is very robust,” he said. “So everybody has a role to play.”Read more
Oil prices have weakened, but copper has seen an upwards run. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.Read more
“Just that name puts fear even if it’s just a rumor that they might be going into your space,” said Alan Lancz, president of Toledo, Ohio-based investment advisory firm Alan B. Lancz & Associates Inc., who has been an investor for more than 30 years. “To be over all these different sectors and all these different spaces, I can’t recall anything like that.”Read more
Oil prices have recovered and coffee and cocoa are strong. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.Read more
In a ministerial meeting in St. Petersburg on Monday, Saudi Energy Minister Khalid al-Falih said the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC partners were committed to extending their existing deal to cut output by 1.8 million barrels per day (bpd) beyond March 2018 if necessary.Read more
Visa, which generates revenue by facilitating credit- and debit-card transactions, has benefited from increased consumer spending in the United States as well as results from Visa Europe, which it bought last June for about $23 billion.Read more
Cooperation amongst the energy majors in Papua New Guinea is leading to greater efficiency and higher international standing, according to industry leaders and analysts. What is happening in PNG appears in stark contrast to recent experiences in Australia’s LNG industry.Read more
‘We hope to make the task of all PNG-focused companies easier in the future—allowing them to spend less time selling PNG itself, and more time selling their own ideas, products and services.’Read more
According to the Centre for Excellence in Financial Inclusion (CEFI) approximately 85 per cent of PNG’s population does not have adequate access to financial services. A majority of this unbanked population are women.
The Bank of Papua New Guinea (BPNG), a member of the Alliance for Financial Inclusion (AIF) endorsed the Denarau Action Plan in 2016 to close the gender gap in financial inclusion.Read more
Central Bank governors and representatives from financial institutions around the Pacific gathered in Kokopo, East New Britain for the 3rd annual Pacific Islands Regional Initiative Leaders Roundtable.
The two-day meeting is hosted by the Central Bank of Papua New Guinea and the Alliance for Financial Inclusion, based in Kuala Lumpur.Read more