PRICE OF COOKING OIL TO INCREASE IN COMING MONTHS The country’s consumer watchdog, the Independent Consumer and Competitions Commission (ICCC) is warning consumers to brace for an increase in the price of vegetable cooking oil. The ICCC has made it clear that the increase is solely due to international price increases in vegetable oils, which the ICCC Commissioner and Chief Executive Officer (CEO) Mr. Paulus Ain further elaborated that the looming price increase is attributed to the diminishing supply of palm oil from Southeast Asia, coupled with surges in global demand. The Food and Agriculture Organization (FAO) also showed this…
Author: Emmanuel MAIPE
The West New Britain (WNB) Provincial Government was just recently recognised for its efforts in improving financial inclusion by the Bank of Papua New Guinea (BPNG) and the Center for Excellence in Financial Inclusion (CEFI). This recognition came in the form of a Provincial Engagement Award, which was presented on Friday 22nd November at the APEC Haus in Port Moresby city in the Financial Inclusion Excellence Award, hosted on the evening following the inaugural Financial Inclusion Forum held during the day. There to receive this prestigious award was Mr. Leo Makmani, the West New Britain Provincial Administrator (PA). “It’s a…
The Papua New Guinea (PNG) AFL national men’s team, the Mosquitoes (Mozzies), will bring home the Pacific Cup after a magnificent performance in the inaugural 2024 AFL Pacific Cup yesterday in the grand final showdown against Nauru at the Sunshine Coast, Australia. The Mozzies were crowned inaugural Pacific Cup Champions after defeating Nauru Chiefs 62 to 19 in the Open Men Grand Final on Saturday 23rd November, wrapping up what has been a tough challenge for the PNG national teams that participated in the Under 17 (U17) and the Open divisions against some of the best countries in the sport…
Prime Minister (PM) James Marape has fired back at the Opposition on claims that the government is withholding funds to districts and provinces represented by Members of Parliament who are in the Opposition, calling it a lie and stating that funds have been fairly distributed. Prime Minister Marape in a statement said that he will prove this once the Finance Department makes available printout of the funding, which he would have it published for public scrutiny the distribution in service development funds of District Services Improvement Program (DSIP) and Provincial Services Improvement Program (PSIP). Marape, in turn, criticised Members of…
The much-anticipated inaugural Central Province Investment Conference (CPIC) has now been moved to next year instead of next week as initially scheduled. This was announced by President and interim Chief Executive Officer (CEO) of the Central Chamber of Commence and Industry (CCCI), Linda Paru, stating that deferral will also give enough time for the organising committee to finalise things. The investment conference was originally set for November 27- 28, but now it has been rescheduled to February 27- 28, 2025. Central Governor, Rufina Peter also made a statement on the deferral saying that the upcoming parliament session was the reason…
Investors looking for information on the various key regulatory policies on doing business in Papua New Guinea will have access to all of that in the upcoming 2024 PNG Investment Week in Sydney, Australia next month. Such information is critical for making informed business decisions, especially if one is choosing to invest in PNG, and with this in mind, PNG’s flagship investment promotion event, the 2024 PNG Investment Week has opted to commence its proceedings with a Regulators Forum first before moving on to other things. To take place on Day 1 of PNG Investment Week – Sunday December 8th,…
The much-anticipated full investigation into the East New Britain Palm Oil Limited (ENBPOL) dealings and alleged price fixing is finally set commence next week in Kokopo city, East New Britain (ENB) province. The Minister for International Trade and Investment, Richard Maru, announced this following the arrival of the Chairman, Mr. David Mather to Papua New Guinea from London on Tuesday, who will lead the investigation team. He will be in the beautiful city of Kokopo next week for the investigation to commence from November 24th to 30th, 2024. They will be meeting with the oil palm farmers, the provincial government…
BSP Financial Group Limited has successfully opened its new Telefomin Branch, offering customers better access to all banking services, including ATM services after almost 40 years of limited banking options. BSP Telefomin Branch opened yesterday, Monday 18th November 2024. Housed in the Telefomin District Administration office complex, this new facility will offer full banking services to customers – giving them opportunity to open accounts, over the counter cash transactions, access to lending as well as other products. To support the community after hours, ATMs are available for use by customers. BSP Group General Manager Retail, Ronesh Dayal attended the opening…
Captain Beverly Pakii, Air Niugini’s female pilot continues to make history, this time by becoming the first Papua New Guinean to be certified as an Airbus A220 Captain. She achieved this milestone after successfully completing her type rating with distinction in Montreal, Canada on Monday 18th November. Captain Pakii is among three Air Niugini pilots who started on the Initial A220 Pilot training in Canada as part of the aircraft’s Entry Into Service (EIS). Air Niugini will welcome its first brand new A220 aircraft in September next year, coinciding with Papua New Guinea’s 50th Independence anniversary celebrations. Captain Pakii is…
Kina Bank is urging its customers to fully utilize its Digital Hubs for convenience in banking after the bank launched a series of them in Port Moresby city just recently. Kina Bank Chief Operating Officer, Mr. Roppe Uyassi, said they opened their third digital hub in Port Moresby at the Rangeview Plaza on Tuesday 12th November. “These hubs are an extension of our branches and although they are cashless, they provide our customers with a convenient means to access almost all the services you would expect from a branch and help our customers to transition into greater usage of digital…