Business, resources & economy Feed

Gold refinery proposal doesn’t add up

ALLAN BIRD
| Governor, East Sepik Province

Generated with AI (22 March 2024  7.49 am)
The gold refinery of our dreams (Generated with AI, 22 March 2024, 7.49 am)

WEWAK - The Marape government’s proposed legislation to establish a gold refinery in Papua New Guinea seems to be another cargo cult endeavour that will bring little or no value for money for our country.

The proponents have zero experience in refineries or gold bullion and they don't understand the refinery business or business in general.

Continue reading "Gold refinery proposal doesn’t add up" »


New BCL chiefs to redevelop Panguna

MEDIA STATEMENT

David Osikore
New CEO of Bougainville Copper, David Osikore, has worked for more than 30 years in the PNG and Australian mining industries 

BUKA - Bougainville Copper Limited (BCL) has announced the appointments of David Osikore as managing director and chief executive officer and Johnny Patterson Auna as chief financial officer and company secretary.

The appointments follow significant progress made by BCL over the past five months as it prepares to transition from a caretaker mode to a more operational exploration phase.

Continue reading "New BCL chiefs to redevelop Panguna" »


BCL granted five-year exploration extension

MEDIA RELEASE
| Bougainville Copper Limited

BCL PIC
Bougainville president Ishmael Toroama and BCL chairman Sir Melchior Tomot (centre) hold the ELO1 exploration licence extension in the presence of government and company officials

BUKA - Bougainville Copper Limited (BCL) yesterday confirmed that the Autonomous Bougainville Government (ABG) has taken a decision to award a five-year extension of the company’s exploration licence for the Panguna project in Central Bougainville.

At a ceremony in Buka to mark the granting of the extension, Bougainville President Ishmael Toroama said Panguna was a high impact project for Bougainville and that the licence would pave the way for redevelopment of the mine.

Continue reading "BCL granted five-year exploration extension" »


Can kava become a big export earner?

NEWS DESK
| PNG Business News

PORT MORESBY - Minister for International Trade and Investment, Richard Maru, wants to see the establishment and commercialisation of the kava industry in Papua New Guinea.

Minister Maru expressed his enthusiasm after learning from Fijians who attended the recent World Indigenous Business Forum in Port Moresby that the demand for kava in Fiji and the Pacific had outgrown supply.

Continue reading "Can kava become a big export earner?" »


Bville govt & BCL now on the same path

ISHMAEL TOROAMA
| President, Autonomous Bougainville Government

PANGUNA - I am pleased to advise that good progress has been made in our ongoing discussions with Bougainville Copper Limited (BCL) aimed at amicably ending long-running Judicial Review proceedings in the National Court of Papua New Guinea.

Back in January 2018, the ABG refused an extension of BCL’s EL01 exploration licence and three months later the company was granted leave by the court for a judicial review of the decision. The proceedings have remained ongoing ever since.

Continue reading "Bville govt & BCL now on the same path" »


Economy ready to grow & Boroko revived

NEWS DESK
| PNG Business New

Boroko
An informal street dump in Boroko. The once garden suburb must be cleaned up says prime minister Marape   (Image by Malum Nalu)

PORT MORESBY - James Marape has expressed confidence that the Papua New Guinea economy is on the brink of an unprecedented surge, fuelled by the advancement of major resource projects.

The prime minister emphasised that this remarkable economic expansion will inevitably foster the growth of the micro, small, and medium enterprises (MSME) sector.

Continue reading "Economy ready to grow & Boroko revived" »


Fed up with Oz, trade minister looks to China

NEWS DESK
| Radio New Zealand

Richard Maru (Johnny Blades  Radio New Zealand)
Trade minister Richard Maru is frustrated with Australia's lazy attitude to trade with PNG and has his eyes on China - “Enough is enough. Starting from this year, we are moving on"  (Image - Johnny Blades,  Radio New Zealand)

AUCKLAND - Papua New Guinea's trade minister Richard Maru has complained that its trade deal with Australia has been skewed in the Aussies' favour for decades and says the country will trade more with China.

Maru said Beijing should now become PNG's focus for trade and investment because not enough is being done to assist exports to Australia.

Continue reading "Fed up with Oz, trade minister looks to China" »


Toroama - ‘We're onto these Aussie conmen'

KEITH JACKSON

panguna_mine_2021
Panguna copper and gold mine, 2021 - the end of the rainbow for Australian (and the world's) con artists

NOOSA - Bougainville president Ishmael Toroama has firmly stated his government will not allow foreign investors on Bougainville to breach its laws to exploit its people and resources.

Toroama made the statement after the Bougainville Executive Council decided to refuse two mineral license applications from the Paruparu Joint Venture, a partnership between Wyndale Holdings and local company Karatapo Resources.

Continue reading "Toroama - ‘We're onto these Aussie conmen'" »


‘Incredible’ Kostas Constantinou dies at 66

KEITH JACKSON

Akostas
Sir Kostas Constantinou - “His impact will be greatly missed but his  vision will be cherished, especially through his philanthropy"


NOOSA – The death of leading Papua New Guinea business figure and philanthropist, Sir Kostas Constantinou at the age of 66, has deprived the country of the head of its most prominent, wealthy and politically-connected family.

In the 1950s, his father George migrated to PNG with his Greek Cypriot family to make their fortune.

Continue reading "‘Incredible’ Kostas Constantinou dies at 66" »


The very risky business of investing in PNG

TONY DEGEN

Degen    plantation homestead before

Degen      plantation homestead after
The plantation homestead before and its demolition by villagers angry at the PNG government's land use practices

MADANG – I’m an investor in the Papua New Guinean agricultural and livestock industry and purchased a state agricultural lease on the north coast near Madang.

By August last year, I had paid all the required fees and charges like stamp duty and assured myself that the title was clear.

Continue reading "The very risky business of investing in PNG" »


Shiprider agreement must go beyond fisheries

DUNCAN GABI

Gabi    US PNG agreement
Despite calls for more public consultation, US Secretary of State Antony Blinken and PNG defence minister Win Bakri Daki ink the defence cooperation and shiprider agreements at APEC House in Port Moresby (Radio New Zealand | Samuel Rillstone)

WEWAK - The defence cooperation agreement between the United States and Papua New Guinea signed late last month, and its associated shiprider agreement offer potential benefits for our fisheries industry.

But in addition to helping PNG protect its sovereignty, it’s crucial to consider the agreements broader implications and to explore other avenues for economic growth and development.

Continue reading "Shiprider agreement must go beyond fisheries" »


We have been betrayed by the global elite

A fitzPHILIP FITZPATRICK

TUMBY BAY - Australia, like many other developed nations, claims it has no responsibility for CO² emissions from the coal, iron ore and gas it exports.

If Australia accepted that responsibility it would blow its emission reduction targets sky high and fail every test of being a responsible and ethical nation.

Continue reading "We have been betrayed by the global elite" »


Play with dynamite, expect an explosion

_Capture
From the song ‘Me and Bobby McGee’, written by Kris Kristofferson in 1969 and most famously sung by Janis Joplin, who recorded it shortly before her death from a drug overdose in 1970

CHRISTOPHER OVERLAND

ADELAIDE - In the distant past, there arose priestly castes, or classes, whose members purported to have special insight and understanding about the world; an understanding that hugely surpassed that of ordinary folk.written by

Through certain rituals and the possession of uncommon skills - such as the ability to read and write, or through mastery of astronomy or great talent for mathematics - they secured influence, authority and power.

Continue reading "Play with dynamite, expect an explosion" »


Complacency feels good, but it might kill you

PHILIP FITZPATRICK

TUMBY BAY - Australia has changed considerably since the sleepy 1950s and a major influence can be put down to immigration.

Left to our own devices we’d probably still be dozing in the warm sunshine of national complacency.

Complacency
Complacency about climate change and its effects is beginning to look more and more like a scourge, even a killer. And yes, we're bloody complacent

 

Continue reading "Complacency feels good, but it might kill you" »


Taking back PNG? This new law gives it away

Warime Guti -
Warime Guti - "Let us work together to create a sustainable future that values the protection of our natural resources and respects the rights and well-being of its people"

WARIME GUTI

LAE - The Papua New Guinea Environmental Alliance (PNGEA), a representative of civil society organisations, is deeply concerned about the national government’s push to establish special economic zones throughout the country.

We’re concerned about the impact of the Special Economic Zone Authority Act of 2019, legislated to identify environmentally important areas and consider the well-being of communities within and near planned zones.

Continue reading "Taking back PNG? This new law gives it away" »


Modi PNG trip expands India’s balancing act

Korybko’sANDREW KORYBKO
| Andrew Korybko’s Newsletter

MONTREAL - India is the only Great Power whose growing ties in any region aren’t seen by the New Cold War’s Chinese and Western protagonists as a threat to their interests.

This makes these nations amenable to accepting India’s envisaged balancing role in the countries they’re competing over, like those in the Pacific.

Continue reading "Modi PNG trip expands India’s balancing act" »


Robbing the people to boost the profiteers

Blackbirding in Melanesia State Library of Queensland)
'Blackbirding' in Melanesia in the late 19th century was an approved way of stealing people's liberty to profit business. Later governments became smarfter and sold the people's property instead (State Library of Queensland)

PHILIP FITZPATRICK

TUMBY BAY, SA – In the world over, for many years now, both conservative and progressive governments have been privatising public services.

The argument runs that services like health, water, electricity, gas, transport and telecommunications can be operated much more efficiently, effectively and cheaply by business than government.

That this is a capitalist fallacy is now readily apparent.

Continue reading "Robbing the people to boost the profiteers" »


Coffee, coconut, oil palm go bigtime in PNG

New Guinea Highlands Coffee
The pick of the crop (New Guinea Highlands Coffee)

NEWS DESK
| PNG Business News

PORT MORESBY – Papua New Guinea’s agriculture sector has experienced a major upswing in production, says agriculture minister, Aiye Tambua, with coffee, coconut, and oil palm leading the way.

According to the Coffee Industry Corporation, the country exported 840,000 bags of coffee in 2022, up from the previous year's 750,000.

Continue reading "Coffee, coconut, oil palm go bigtime in PNG" »


Finance guru appointed to board of BCL

MaryanneHasola
Maryanne Hasola (PNG Report)

MEDIA RELEASE
| Bougainville Copper Limited | Edited

PORT MORESBY - Bougainville Copper Limited has confirmed the appointment of Maryanne Hasola to the company’s board as an independent non-executive director.

Ms Hasola, from Bana District in Bougainville, is a well-regarded women’s leader who brings to the role more than 23 years’ experience in accounting and auditing in the Internal Revenue Commission of Papua New Guinea.

Continue reading "Finance guru appointed to board of BCL" »


Foreign loggers said to be defying court bans

New Timber Barons coverMEDIA RELEASES
| Act Now PNG | Edited Extracts

PORT MORESBY - More than 30 large-scale logging projects in Papua New Guinea appear to be operating in defiance of a court ban issued by the deputy chief justice in June 2021.

Together the logging operations accounted for 40% of PNG’s total log exports in the 12 months to June 2022.

Continue reading "Foreign loggers said to be defying court bans" »


Our art is glorious but not taken seriously

Kauage
This Kauage painting is the first thing visitors see when they enter my house. PNG paintings have been sold for up to $US5,000 (K18,000), yet PNG does little to  promote art as an industry - KJ

HAZEL KUTKUE
| Sipikriva Girl

BRAUN, MOROBE – I have observed that many Papua New Guinean artists and artisans, hoping to sell their work, display photographs of their art in social media, at local fairs and at monthly craft markets.

Among these artists and artisans are people who are extraordinarily talented.

And these people share a common opinion: Why doesn't their own government, and even their own people, recognise that art is a goldmine?

Continue reading "Our art is glorious but not taken seriously" »


Solwara Warriors want ban on seabed mining

Anthony
Anthony Walep is a lawyer assisting the Alliance of Solwara Warriors and the Centre for Environmental Law and Human Rights (CELCOR)

PAUL OEKA
| PNG Business News

MADANG - The Alliance of Solwara Warriors, a coalition of coastal communities, has appealed to the Papua New Guinea government to cancel seabed mining and exploration licenses in the country.

The Alliance also called for the termination of Nautilus Minerals’ mining license, which is still active even though the company went bankrupt in 2019.

Continue reading "Solwara Warriors want ban on seabed mining" »


Malaysian investors are keen on PNG

Richard Maru and Melvin Aun (Richard Maru)
Richard Maru and Melvin Aun (Richard Maru)

NEWSLETTER
| PNG Business News

PORT MORESBY - Outgoing Malaysian high commissioner to Papua New Guinea, Melvin Cheah Chee Aun, has left the country with one regret: Covid-19 had prevented him from assisting many more Malaysian investors keen to invest in PNG.

In his parting message to international trade and investment minister, Richard Maru, Aun requested him to travel to Malaysia to meet five major Malaysian investors who want to explore investment opportunities in PNG.

Continue reading "Malaysian investors are keen on PNG" »


Bougainville's energetic economic program

Shadrach
Bougainville chief secretary Shadrach Himata (Roselyn Ellison, Nationalpic)

KEITH JACKSON
| Sources: Bougainville News & New Dawn FM

BUKA – In a comprehensive statement on the Bougainville economy, chief secretary, Shadrach Himata, has stated that the province’s internal revenue of K20 million could increase to as much as K55 million this year.

Himata said there are many economic projects in the pipeline including a gold refinery in Arawa, due for completion in the second quarter of this year, a limestone project at Manetai, powered by the Panguna hydro, and a water bottling plant in Toniva scheduled to begin operations mid-year.

Continue reading "Bougainville's energetic economic program" »


LNG project generates K16.5 billion for PNG

Spirit of Hela LNG tanker (Santos)
LNG tanker 'Spirit of Hela' (Santos)

NEWSLETTER
| PNG Business News

MAKATI, PHILIPPINES - The PNG LNG project generated K16.5 billion for Papua New Guinea over the eight years of production from 2014 to 2022.

This includes K7.5 billion paid to Kumul (PNG’s national petroleum company) from the state's 19.4% equity, K1.3 billion to the Mineral Resources Development Corporation, K800 million in royalty payments, K700 million in development levy payments and K6.2 billion in tax payments.

Continue reading "LNG project generates K16.5 billion for PNG" »


K90m to boost PNG technical & skills training

Business   ADB Director for PNG & Pacific David Hill & PNG Treasurer Ian Ling-Stuckey ('ADB in the Pacific'  Facebook)
ADB Director for PNG & Pacific David Hill and PNG Treasurer Ian Ling-Stuckey ('ADB in the Pacific' Facebook)

NEWS DESK
| PNG Business News

PORT MORESBY - The Asian Development Bank (ADB) and the Papua New Guinea government have signed loan and grant agreements of more than $66 million (K90 million) to help improve PNG’s technical and vocational education and training (TVET) program.

The agreements, part of the Improved Technical and Vocational Education and Training for Employment Project approved on 29 November, were signed by PNG Treasurer Ian Ling-Stuckey and ADB Country Director for Papua New Guinea David Hill.

Continue reading "K90m to boost PNG technical & skills training" »


I’m an Indigenous female entrepreneur: Let me introduce myself

Prisilla Manove
Prisilla Manove

PRISILLA MANOVE
| Prisilla’s Notes*

GOROKA - My father’s father lived in a complete agrarian society. What that means is that everything they ate they grew; everything they needed they made.

All labour and life revolved around both the harvest and ceremonies celebrating the harvest.

For my people, these practices happened up until the mid-21st century in the Highlands of Papua New Guinea. Fragments of them still happen today.

Continue reading "I’m an Indigenous female entrepreneur: Let me introduce myself" »


Can onetime ‘greatest of friends’ restore relationship they both desperately need

(PNG Business News)
Papua New Guinea's prime minister James Marape greets his Australian counterpart Anthony Albanese (PNG Business News)

KEITH JACKSON

NOOSA – It’s always good to see Rowan Callick’s byline in The Australian or anywhere else, and the other day it was a delight to read the commentary that followed.

Callick’s an excellent journalist - a former Australian Journalist of the Year with a couple of Walkley Awards and three books to his credit.

Continue reading "Can onetime ‘greatest of friends’ restore relationship they both desperately need" »


There are ways to keep our country united

A G SATORI

PORT MORESBY - I am not as pessimistic as Mathias Kin about the future of Papua New Guinea as a capable and united country.

Highlanders are most enterprising and will pull a good sweat to achieve something.

It is this attribute the nation should try to harness in a proper way.

Continue reading "There are ways to keep our country united" »


With foresight, PNG can be a force of nature

KANNI WIGNARAJA & DIRK WAGENER
| United Nations Development Programme

PORT MORESBY - Papua New Guinea’s natural beauty is undeniable. Home to lush tropical rainforests, magnificent mountains and pristine islands and seas, PNG is one of the world’s 17 megadiverse countries, accounting for about five percent of global biodiversity.

A little-known fact is that the country’s rainforest is the third largest in the world.

PNG also lies at the heart of the Coral Triangle – a region that is home to 76% of all known coral species.

Continue reading "With foresight, PNG can be a force of nature" »


Julie Bishop delivers hard truths to PNG

JOHN KURI

PORT MORESBY - If Julie Bishop was from Papua New Guinea I reckon she would have started her opening address with, “Stay where you are, you have a lot going for you but you don’t seem to know it.”

But fortunately and unfortunately she did not.

Fortunately because the grand occasion of the investment conference at the Hilton Hotel in Sydney was probably geared to hear her telling PNG the truth. (Although a version of her comments which seems to be untrue went viral in PNG.)

Continue reading "Julie Bishop delivers hard truths to PNG" »


17m population shock was hidden from public

The 17 million population estimate rang alarm bells in Canberra and was considered so sensitive the PNG government initially refused permission for it to be published

Koki in Port Moresby  Papua New Guinea
Koki, a suburb of Port Moresby best known for its market and other commercial activities

BEN PACKHAM & TICKY FULLERTON
| The Australian

CANBERRA - A new United Nations study has found Papua New Guinea could have a population of 17 million – almost double the official estimate.

The new population forecast would, if accurate, would slash measures of PNG’s living standards and ramp up concerns over its fragility as a nation state.

Continue reading "17m population shock was hidden from public" »


Life itself is threatened by the profit motive

We have created a civilisation capable of destroying the environment on a global scale and that is exactly what is happening.  The warning bells from history are ringing loudly but our leaders and too many of the rest of us are not listening

Wafi-golpu-top

CHRIS OVERLAND

ADELAIDE – The proposal by Newcrest Mining and Harmony Gold to dump plans to dump hundreds of millions of tonnes of mining waste into Huon Gulf shows why the people of Planet Earth are collectively doomed to disaster.

There is no chance this side of hell that international capitalism will stop despoiling the planet as long as there is money to be made.

Continue reading "Life itself is threatened by the profit motive" »


Morobeans resist mining waste ocean dump

“The legacy we want to leave our children is simple. We want them to be able to live in an environment that is clean, healthy and safe. We do not want an ocean full of toxic waste” - Reverend Yasam Aiwara

Huon

NEWS DESK
| Say No to Wafi-Golpu

LAE - A coalition of Papua New Guinean and Australian civil society organisations has launched an international campaign to stop plans to dump hundreds of millions of tonnes of mining waste into Huon Gulf.

The Say No to Wafi-Golpu DSTP group is fighting to protect the ocean, marine ecosystems and coastal communities of Huon Gulf from becoming a dumping ground for the Wafi-Golpu copper and gold mine, one of the largest in the world, operated by Newcrest Mining and Harmony Gold.

Continue reading "Morobeans resist mining waste ocean dump" »


Bougainville is heading the same way as PNG

We live in a neo-liberal system that greatly benefits the few while harming the many who live in increasing poverty. It allows foreign companies to exploit and an elite to flourish while it subjugates the ordinary people by imposing limits on how they can benefit from development. It is a system that is unsustainable

Buka passage
The Buka passage (Pinterest)

CHRIS OVERLAND

ADELAIDE - It’s wonderful to read Leonard Fong Roka’s words about his beloved Bougainville once again. His is a voice that deserves to be heard.

Earlier this week, he drew attention to the grievous failure of Papua New Guinea's ruling elites to deliver anything of real substance to the people who elected them to govern (‘Independence? Can We Get There From Here?’).

Continue reading "Bougainville is heading the same way as PNG" »


Independence? Can we get there from here?

The problem is not too few resources, a small population, a lack of investor confidence or some other excuse the politicians use to cover their incompetence. The problem is poor leadership

Bougainville

LEONARD FONG ROKA

PANGUNA - Bougainville is a small island with enough resources for its population and we should be able to deliver good lives to ourselves.

Sure, there’s the crisis of global warming to harm her, but this is a world crisis which we do not face alone.

Continue reading "Independence? Can we get there from here?" »


Bougainville’s nation-building goes off track

The government is telling the world about our forthcoming independence while in practice inviting foreigners to take over our available resources and turn Bougainvilleans into beggars

Village track (Jeremy Weate)

LEONARD FONG ROKA

PANGUNA - From childhood and into maturity most Bougainvilleans have being subjected by our elders to the word ‘Independence’.

Especially around Panguna in Central Bougainville, my own mama graun, we grew up with all the associated politics of our island forcefully seeking to become a nation in its own right.

Continue reading "Bougainville’s nation-building goes off track" »


Quake signals danger for Wafi-Golpu project

As deadly earthquakes pose catastrophic risks to communities, all levels of government have been asked to pause the Wafi-Golpu deep sea tailings pipeline proposal until consent has been given by affected communities

A large crack in a highway near Kainantu following the 7.6 magnitude Morobe earthquake that killed at least seven people
A large crack in a highway near Kainantu following the 7.6 magnitude Morobe earthquake that killed at least seven people

NOOSA - Following the deadly Morobe earthquake 10 days ago, a coalition of Papua New Guinean and Australian civil society organisations have called for a pause to the Wafi-Golpu gold mine project.

The quake had a magnitude of 7.6 and the organisations want the geology to be fully understood and for Morobe communities to be consulted, especially on the risks of deep sea tailings placement (DSTP) to their livelihoods and health.

Continue reading "Quake signals danger for Wafi-Golpu project" »


Marape says PNG's prospects now look strong

“I want to warn the country about ‘lazy man expectations’ that money from oil, gas and mining would be a permanent solution for our economy; far from it” – James Marape

Marape speaks in parliament
James Marape speaking in parliament this week

JAMES MARAPE MP
| James Marape News Page | Edited

WAIGANI – The story of Papua New Guinea is not bad as many people make it out to be.

By 2027, the Budget will be in surplus and by the mid-2030s PNG will have paid its total sovereign debt on the way to becoming a K200 billion economy.

Continue reading "Marape says PNG's prospects now look strong" »


Corruption is suffocating economic growth

Corruption is a huge problem in PNG and has a huge economic cost. PNG is ranked by Transparency International as one of the most corrupt countries in the Asia-Pacific region

Eddie Tanago 2
"Research by Act Now! showed how just a one-point improvement in PNG’s corruption score could boost the economy by K10 billion a year or 14%, equivalent to over K1,200 for every woman, man and child in PNG" - Eddie Tanago

NEWS DESK
| Act Now!

PORT MORESBY - Effective action against corruption is essential for economic growth and it should be the number one priority for the new Marape government.

Recent findings by the National Research Institute has reaffirmed the importance of good governance and the rule of law in attracting new investment, increasing employment opportunities and boosting government revenues.

Continue reading "Corruption is suffocating economic growth" »


China gold has been tarnished under Marape

When prime minister O’Neill visited China frequently. “Peter O’Neill could not resist red carpets, and the Chinese rolled them out for him,” Paul Barker, PNG Institute of National Affairs

Tallest building in PNG  the Noble Centre
The 23-storey Noble Center, the tallest building in PNG built at a cost of $95 million (K230 million) by the China Railway Construction Engineering Group, was denied an occupancy certificate by the city building authority last September. It remains unoccupied

HAMISH McDONALD

| The Monthly | Extract

MELBOURNE - Heading a new term of government, prime minister James Marape said he would issue a list of business categories reserved for Papua New Guineans below a certain investment level.

“I am not going to be prime minister to see the erosion of business opportunities for PNG nationals, like restaurants, guesthouses, lodges, being filled by entrepreneurs or businessmen from outside,” he said.

Continue reading "China gold has been tarnished under Marape" »


The insidious cancer that is corruption

Corruption is an insidious cancer in the social, economic and political fabric of the nation. It will have to be stamped out if Papua New Guinea is ever to reach its true potential

Overland
Tolai man uses tabu (shell money) to buy a soft drink in a Chinese store (Claudio Sieber)

CHRIS OVERLAND

ADELAIDE – Let us suppose that the Royal Papua New Guinea Constabulary (RPNGC) was not both corrupted and inefficient.

If this was so, then the PNG’s Chinese traders, described by Hamish McDonald in the current issue of The Monthly (link here $ or read an extract here), might have sufficient confidence in the system so they would not feel compelled to adopt some of the extrajudicial measures referred to in the article.

Continue reading "The insidious cancer that is corruption" »


The new breed of Chinese trading in PNG

'Operating with cash only, ignoring company or goods-and-services tax obligations, importing goods through sometimes unorthodox channels....the Fujian businesses have been unbeatable competition at the bottom end of the consumer market'

Chinese business in PNG
"Periodically, mobs attack and ransack Chinese stores in PNG towns, as they also have in Honiara, the Solomon Islands capital"

HAMISH McDONALD
| The Monthly | Extract

MELBOURNE - Who should Australia believe about China’s business and strategic interests in Papua New Guinea?

Aiambak, 469 kilometres up the Fly River from the Torres Strait, is on the frontier of China’s contemporary reach into the wider world.

Continue reading "The new breed of Chinese trading in PNG" »


Old Melanesia offers lessons to a grim future

When they say ‘gold is a resource’, then anything in and around it is useless. The people living on the land above the gold, anything else in the ground and down the rivers are seen as a nuisance

Agric

EMMANUEL PENI
| Presentation at the Lowy Institute

SYDNEY - Papua New Guineans are proud and resilient people. We come from a bloodline of some of the most ingenious and innovative people.

Our ancestors sailed the oceans before others did. Our ancestors invented agriculture! Let that sink in.

Continue reading "Old Melanesia offers lessons to a grim future" »


Heritage, bilums & cultural appropriation

The truth is that imitation and exchange have long been integral in the development of human societies. Begging, borrowing or stealing other people’s ideas drives socio-cultural and economic change around the globe

Bilums

CHRIS OVERLAND

ADELAIDE - Raymond Sigimet’s article, The cruel and brazen theft of bilum designs, has raised a significant issue and in so doing exposes a veritable witches brew of tricky problems.

Rightly, he regards the use of traditional bilum designs for other purposes as an example of what is commonly called 'cultural appropriation' – which occurs when cultural features or artefacts of a group are adopted by other groups or individuals in an exploitative or disrespectful way.

Continue reading "Heritage, bilums & cultural appropriation" »


The cruel & brazen theft of bilum designs

The sale of these splendid (and strong) string bags and other products based on bilum design is putting money into the hands of many creative and hard-working women who sustain this national art

Bilum designs on fabrics for sale (Florence Jaukae  Facebook)
Bilum designs on fabrics displayed for sale (Florence Jaukae,  Facebook)

RAYMOND SIGIMET

DAGUA - The bilum is no ordinary string bag. It is part of the Papua New Guinea persona.

It is part of our identity. It is a national symbol. It is a shared experience in our diversity.

Papua New Guinea bilum designs are unique to our country.

Continue reading "The cruel & brazen theft of bilum designs" »


Training provides financial literacy ability

‘Papua New Guineans are lost today because we were not taught financial literacy in the education system. It’s one of the key components of giving people a good life’

A
Business seminar participants at the Lamana Hotel (Geraldine Maien)

SHARON TEINE
| Journalism Student | University of PNG

PORT MORESBY – Investing safely in online in global forex trading featured at a business seminar in Port Moresby last weekend.

The two-day program at the Lamana Hotel was facilitated by Peter Kinjap, director of Howarig Traders, a locally registered enterprise.

Continue reading "Training provides financial literacy ability" »


Is the debt bomb beginning to explode?

This is the context within which the problems confronting Papua New Guinea must be understood. It seems destined to be presented with a series of very unpleasant debt refinancing decisions over the next several years

Bomb

CHRIS OVERLAND

ADELAIDE - It is difficult to comprehend that only now is the International Monetary Fund belatedly issuing warnings about debt in South East Asia, the Pacific and elsewhere.

The proverbial writing has been on the wall for literally years that the world's mountainous debt was, in reality, a 'debt bomb' waiting to go off.

Continue reading "Is the debt bomb beginning to explode?" »


IMF warns that rising debt puts PNG at risk

"There are many countries in the region which are facing high debt numbers. And some of these are in debt distress territory. So that’s something which we have to watch out for"

Downtown
Downtown Port Moresby and dockland

RAVI BUDDHAVARAPU
| CNBC | Edited

SINGAPORE - Rising debt levels driven by inflation and tightening financial conditions across Asia and in Papua New Guinea are cause for concern, according to the International Monetary Fund’s Krishna Srinivasan.

“If you look at debt for the region, if you look at Asia’s share of total debt, aggregate debt, that’s gone up quite sharply,” Srinivasan, director of the Asia and Pacific Department at the IMF, told CNBC on Wednesday.

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China's moves take shape in Torres Strait

All the indications are that there is much more push and shove to come before we know whether China will have a tangible presence on the Torres Strait – and whose military and navy will occupy two proposed bases at Ihu

Ihu Zeng Aeo dig first soil
Ihu Special Economic Zone groundbreaking ceremony by cheerful Chinese ambassador Zeng Fanhua and PNG foreign minister Soroi Eoe. The project is of vast importance to the impoverished Gulf Province but poses strategic problems for Australia as China seeks to consolidate its interests in the Torres Strait region

KEITH JACKSON

NOOSA - Reports in the Australian media that China is readying to build a military base at Ihu Papua New Guinea’s Gulf Province have been dismissed as “baseless and hype” by the Chinese embassy in Port Moresby.

China has reacted with anger to media reports that the developing Ihu Special Economic Zone at Kikori in Gulf Province will be a platform for a Chinese military base.

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