The prime minister has said that the country’s economic outlook is looking promising with further improvements to the county’s economy expected going forward. This might come as some good news for the people especially when things have been quite tough with the increases in price of goods and services. Prime Minister (PM) James Marape announced that Papua New Guinea’s economic outlook is showing significant improvement, driven by stronger growth, low and stable inflation, and a substantial easing of foreign exchange (FX) shortages. In addition to this, Marape said the country is also ranked amongst the fastest growing economies in the…
Author: Emmanuel MAIPE
The Independent Consumer and Competitions Commission (ICCC) will now be reviewing the 2024 Prices Order for the Stevedoring and Handling services provided at Lae and Port Moresby international ports after it recently revoked it, following a direction issue by the National Court. According to a statement released by the ICCC, a comprehensive review undertaking by the ICCC in 2023, determined that the ICCC will apply price controls on stevedoring and handling services provided at the Motukea International Container Terminal Limited in Port Moresby city, and the South Pacific International Container Terminal Limited in Lae city. Based on that pricing review…
The result for the first ever grand final match for the Gerehu Magpies in the Port Moresby Moni Plus 2024 AFL season was perhaps something they did not expect, with the boys from the Moresby North- West suburb drew with the Gereka Bombers and will share the Premiership. The Senior Men’s grand final match commenced after 3pm with both teams taking the field. The opening goal of the match came from the Bombers, securing their 6 points. The first- quarter saw the Magpies take the lead with 2- goals and 2- behinds, securing a total of 14 points, while the…
The Port Moresby Moni Plus 2024 Australian Football League (AFL) Grand Final matches are all set for tomorrow, and for the Gerehu Magpies senior men’s team, this is their maiden showdown in the competition. PNG HAUSBUNG had a chat with the Head Coach of the Gerehu Magpies, Mr. Rodney Wasman this week where he shared with us the story of their journey to this level in the city competition. Mr. Wasman said the Gerehu Magpies AFL Club was established in 2012 in the Port Moresby Premier AFL competition with both the men’s and women’s teams. Since then, they have had…
The National Fisheries Authority (NFA) will now better manage and support beche- de- mer fishery farmers and investors in the country with the newly revised National Beche- de- mer Fishery Management plan that was ratified just recently. NFA Managing Director, Mr. Justin Ilakini said the decision to close the beche-de- mer fishery is intended to allow stocks to fully recover and to provide sufficient time to review and update the National Beche-de-mer Fishery Management Plan, so to ensure it reflects the evolving dynamics of the fishery and the ecosystems that support its viability. “The revised management plan will continue to…
Financial literacy continues to be delivered to the people of Papua New Guinea (PNG) with the aim to empower people with the financial knowledge capacity to handle their money better, and financial institutions are very much in the forefront of this in partnership to deliver it. Just recently, one such financial institution is ANZ where it went into partnership with Santos to help more Papua New Guineans improve their money skills, knowledge and confidence, through its MoneyMinded training program. ANZ PNG Country Head, Lachlan Halstead, said: “We are pleased to deliver MoneyMinded training, ANZ’s flagship adult financial education program, to…
Papua New Guinea (PNG) continues to be a preferrable investment destination that has attracted a lot the world’s biggest names in business. That was the statement from Prime Minister (PM) James Marape when addressing the 2024 Business Advantage PNG Investment Conference at the Brisbane Convention Centre in Brisbane, Australia, when assuring foreign investors of the favourable business climate the country offers. Firstly, the prime minister apologized for being unable to attend the conference in person because of very busy work schedule, the prime minister addressed the gathering online and carried on his advocacy for PNG as an investment destination. “Papua…
The Port Moresby Moni Plus AFL 2024 season is drawing to a close with the grand finals set for this weekend to be played out at the Colts Oval. The Port Moresby AFL Association (POM AFL) President, Mr. Douglas Lai expressed delight that the season is coming to a close with not major hiccups so far. “The Moni Plus sponsored POM AFL 2024 season has gone very well since the start and this weekend we will be having our grand finals for the season for the men’s division,” said the POM AFL President. “We’ve had no major problems throughout the…
The Department of Works and Highways now has a new Acting Secretary following the recent termination of the former Secretary. Prime Minister (PM) James Marape on Tuesday 13th August confirmed that Cabinet has made the decision to appoint Deputy Secretary, Mr. Gibson Holemba to replace former Works & Highways Secretary Mr. David Wereh. The prime minister also confirmed that Mr. Wereh is being posted overseas to take up appointment as Papua New Guinea’s ambassador to the Philippines. Marape said a formal letter signed by the Governor-General effecting the decision has been dispatched to Mr. Wereh, and that he was looking…
Tax holidays, although a good incentive for investments especially in the extractive industry, has the potential to lead to poor tax revenue collection from the sector in the long run. This was revealed in a research which was conducted by Ms. Ann- Tania Sipori at the recent 2nd Geoscience, Exploration & Extraction 2024 (GEE 2024) Conference in Port Moresby city. Before presenting the findings of her research to the audience in a packed APEC Haus, Ms. Sipori, who is the Mineral Resources Development Company (MRDC) Technical Manager, made it clear that the research she conducted was independent and does not…