The Bank of Papua New Guinea (BPNG) on Monday launched the Green Finance Center (GFC), an innovative approach to mitigate the risks of climate change impacts on the business sector. The Bank’s Governor, Ms. Elizabeth Genia said that the launching itself is a milestone achievement for BPNG and the country as it aims to achieve sustainability in the local business sector in the face of climate change. “The official launching of the Green Finance Center within the Center for Excellence in Financial Inclusion (CEFI), represents reaching a significant milestone on the journey towards managing climate change risks,” Ms. Genia said.…
Author: Emmanuel MAIPE
The members of the NASFUND Contributors Savings and Loan (NCSL) Limited can expect their accounts to be credited this week with the latest interest following an impressive profit made in 2023 by the savings and loans society. At its Board meeting on Friday, 22nd March, the NCSL received the audited accounts for 2023 and announced a net profit of K 9.7 million for the 2023 financial year. After 20% statutory reserving, this will be credited overnight (Tonight) to the savings accounts of the more than 147,000 members and paid in addition to the current interest rates which members are already…
The rise in crime rate as a result of the deteriorating law and order situation in the country has prompted the Papua New Guinea Chamber of Resources and Energy (PNG CORE) to initiate a Security Summit to look at ways to address this matter. The one-day event, which will take place in the city of Port Moresby on April 17th 2024, will bring together government, state security agencies, industry project operators, and security providers to discuss issues of importance for the sector, and country. In announcing the Summit, PNG CORE Chief Operating Officer, Mrs. Pansy Taueni-Sialis said that this event…
Additional aviation fuel and diesel fuel have finally arrived in country to address the current fuel shortage crisis. The shipment was recently discharged at NapaNapa just outside the city of Port Moresby, all thanks to new arrangements made under the Essential Services Act to address the fuel situation. The National Government through an NEC decision, mandated Kumul Petroleum Holdings Limited (KPHL) to find commercial solution to help the country manage the energy crisis. KPHL took over a shipment of fuel brought in by ExxonMobil, purchased in US dollars and sold to Puma Energy in Kina, for Puma to supply the…
The current wet weather has wreaked havoc in some parts of the country resulting in deaths and destructions, but there is some good news to all these gloom in that the government has now moved to provide immediate relief assistance to the displaced people. Prime Minister (PM) James Marape just recently announced the activation of comprehensive relief operations to assist areas impacted by the adverse wet weather conditions experienced in the country. This initiative, spearheaded by the Department of Works and Highways, the National Disaster Center, and the Papua New Guinea Defence Force (PNGDF), aims to mitigate the challenges faced…
The official start of the Port Moresby AFL 2024 season has been pushed back to this weekend to give time for the preparation of the Colts Oval before the matches are held. President of the Port Moresby AFL Association, Mr. Douglas Lai confirmed that the pre- season should start this weekend. “This week, we will be clearing and cleaning the field, cut the grass and do line markings to mark the boundaries,” said President Lai. He added that this week they’ll be looking at securing a sponsor for this season as well and that is expected to be announced, along…
The Independent Consumer and Competitions Commission (ICCC) has revealed a number of factors that are behind the increases in the domestic price of rice products, which it has been monitoring for some time. The ICCC Commissioner and Chief Executive Officer (CEO), Mr. Paulus Ain, said the domestic price for rice products have remained high for some time and further increased in early 2023 to the beginning of 2024 as a result of a number of global and domestic factors. Rice, being one of the declared goods directly under the ICCC price monitoring oversight, and as part of ICCC’s price monitoring…
The population in the rural parts of the country can expect better internet access using their devices all thanks to Telikom’s new OneWeb partnership with SkyTel. Through this partnership, Telikom customers can now stay connected through Low Earth Orbit Internet with OneTel, delivering high- speed internet coverage wherever they are operating. Simply put, OneWeb means that no location in Papua New Guinea (PNG) has to be remote. Now, mining companies, local communities and government operations can benefit from high-speed internet connections via satellite. “OneWeb is designed for PNG conditions,” said Telikom Chief Executive Officer (CEO), Mr Amos Tepi. SkyTel CEO,…
A local female entrepreneur, who has been supporting local taro farmers in the Morobe province by exporting their products to overseas markets, has been encouraged to continue with what she is doing with the help of the government to further grow the market opportunity of quality taro from Papua New Guinea (PNG). Mrs. Anna Wissink is the Managing Director of Muruk Tropical Produce Limited. The company exports frozen taros from PNG to selected markets in the United State of America (USA) and Australia. She operates by buying fresh taros from the farmers in the five districts of Morobe Province; that…
Footy fans in the city of Port Moresby have something to look forward to this weekend, the start of the 2024 AFL season; however, they might be disappointed because the season opener will now depend on the weather. Port Moresby AFL Association President, Mr. Douglas Lai said as per the calendar for the 2024 season, the pre- season is schedule to start this Saturday 16th March at the Colts Oval, but this might be pushed back to a later date due to the current bad weather being experienced in the city. “If it continues to further rain throughout the week,…