The Teachers Savings & Loans Society Limited or TISA is urgently calling for the immediate termination of Danny Robinson, the Chief Executive Officer (CEO) of Credit Corporation. According to statement released by TISA this afternoon, the call was made following his premature announcement of the granting of a banking license, because this very action constitutes a serious violation of Port Moresby Stock Exchange (POMSoX) rules, resulting in the indefinite suspension of trading of Credit Corporation shares. “Danny Robinson’s actions were premature, immature, and reflect a level of desperation and incompetence that is unacceptable for the leader of a publicly traded…
Author: Emmanuel MAIPE
The Chief Secretary to Government today presented a cheque to the CPL Group as part of the National Government’s second relief assistance package for Stop & Shop outlets and facilities destroyed during the Black Wednesday riots and lootings that took place in Port Moresby and parts of the country. The presentation took place this morning in front of the newest Stop & Shop retail outlet, which was opened for business just yesterday, at the Rainbow Estate in the city of Port Moresby. The Chief Secretary, Mr. Ivan Pomaleu, when presenting the cheque of K16.1 million support to the CPL Group,…
The National Housing Corporation (NHC), perhaps one of the most important state entities, is currently going through an overhaul to improve on its services to the people of Papua New Guinea, especially those wanting affordable housing. Under the new Managing Director, Mr. Abel Tol the NHC is upskilling its workforce, and in the process of having its own digital platform, Corporate Plan and a new policy to go by. Mr. Tol at the two-day 2nd Business Regulators Summit in Port Moresby this week said since taking up office in July 2023, he has sent NHC technical officers to get further…
The government’s regulating agencies were put in the spotlight today at the 2nd Business Regulators Summit in Port Moresby city, with calls from business houses and stakeholder partners, urging them to shape up in enabling a conducive business environment for Papua New Guinea (PNG). The first critique came from the PNG Chamber of Resources and Energy (PNG CORE) when the Ms. Gretel Orake, who is the Managing Poly & Analysis, plainly stating that the regulators in the mining and petroleum sectors need to pull up their socks when it comes to going through the process of approving and issuing of…
Enhancing interoperability between state agencies and regulators using technology, is something that must be further improved to enable the ease of doing business in Papua New Guinea (PNG). This was stressed by the Minister for Information and Communication Technology, Tomothy Masiu when highlighting its importance during the 2nd Business Regulators Forum in Port Moresby city. The minister made mention that it was for this reason to enhance this connectivity between regulators like NICTA or the National Energy Authority with the government agencies that the national government has invested in significant strides in adopting digital transformation in the last four years.…
The two- day PNG Regulators Summit commenced today with much to discuss and cover on improving digital connectivity and interoperability between government agencies and regulators, to improve the ease of doing business and overall service delivery in Papua New Guinea (PNG). The Investment Promotion Authority (IPA) in partnership with the Department of Information, Communication and Technology (DICT) is hosting this 2nd PNG Business Regulators Summit in Port Moresby city with the theme, “Interoperability; Connect and Co-Create.” The IPA Managing Director, Mr. Clarence Hoot, in his opening speech said the Summit aims to identify synergies amongst the government and the statutory…
The Minister for International Trade and Investment in a recent statement says Papua New Guinea (PNG) is all set for the 2025 World Expo in Japan; however, the matter with the space limitations at the Expo, could see PNG resort to other methods to showcase the country to the world. But before this statement was releases, Minister Richard Maru was interviewed by PNG HAUSBUNG after coming back form the recent 10th Pacific Island Leaders Meeting (PALM) in Tokyo, Japan where he said the upcoming World Expo in Osaka, Kansai, Japan will be very different from the last one held in…
Cheques from private sector companies are no longer being accepted by the BSP Financial Group after the bank phased out the acceptance of these cheques late last month. “As of 30th of June 2024, BSP Group has successfully phased out private sector cheques from our banking system, aligning with Bank of PNG’s directive,” said BSP Group CEO Mr. Mark Robinson. Mr. Robinson said Bank of Papua New Guinea’s decision discontinues the use of cheque payments among private sector banking service users; however, cheques issued by the public sector and state-owned enterprises will remain valid and accepted. “To ensure a smooth…
The Investment Promotion Authority (IPA) in partnership with the Department of Information, Communication and Technology (DICT) will be hosting the 2nd PNG Business Regulators Summit in Port Moresby next week starting on Tuesday 30th July. The theme of the summit is “Interoperability; Connect and Co-Create” and aims to identify synergies amongst the government and the statutory regulatory agencies to take stock of reforms and progress being undertaken to achieve the National Government’s e-commerce agenda and digital transformation. The IPA hosted the inaugural Regulators Summit back in 2019 from 19th – 20th September, under the Theme: ‘Efficient Regulations; Productive Economy’. The…
Four people including a nine-year-old girl, are now safe and sound after being rescued from their recent ordeal on the waters of Morobe province all thanks to the swift response by PNG Ports Corporation Limited (PNG Ports). According to a statement from PNG Ports, the group was en route to Lae city from the Morobe Patrol Post when their boat capsized at around 6pm in the evening on Tuesday 23rd July. On board were the skipper of the boat, a young man, and a mother with her daughter. When the boat overturned, three clung to the floating vessel while the…