Nambawan Super Limited (NSL) has announced a Net profit of K144million for the year 2022, which resulted in the declaration of an interest rate of 1.6% to be paid to members’ accounts. The NSL Chief Executive Officer (CEO) that although it was a slight increase in interest rate from last year, it was still a good result given the challenges globally and domestically the superfund faced last year. “I’m sure many of our members will be disheartened by this result, it’s completely understandable to feel that way when investments one has made don’t go as expected.” “The result for 2022…
Author: Emmanuel MAIPE
The Australian Football League (AFL) Junior Development team in the West New Britain (WNB) province has so much lined up for this school term; however, the program is being delayed a bit by the recent unrest experienced in the province. The Junior Development Coordinator Mr. Alphonse Jambarufo said the programs went well during term one of the school year, but term two has been a challenge with the increase in law and order issues and now the unrest. “It is really a tragic moment for us, but we are grateful that there is now more security on ground and we…
The country’s consumer watch dog, the Independent Consume and Competitions Commission (ICCC) has announced that the country should see the prices of goods, including fuel to drop in the next six months. The ICCC Commissioner and Chief Executive Officer, Mr. Paulus Ain said in a press conference this morning that the expected decline in price has to do with the good performance in the global market according to the Food and Agriculture Organization (FAO) latest report. “The price of agricultural items globally are doing well despite the war in Ukraine and oil prices are also doing well,” said the Commissioner.…
Although Prime Minister (PM) James Marape welcomes foreign investments into the country’s energy sector, what he wants to see in the future is major companies in Papua New Guinea (PNG) tapping into this area by making investments as well in electricity production. It was this that prompted him to make a call during his keynote speech at the Edevu Hydropower Reservoir Impoundment ceremony held in the Central province recently, to PNG companies to consider this in the future. “I call on those of you who have capacity in our country, including those superfunds to be adventurous. We have superfunds with…
The country continues to develop and the economy continues to expand as well meaning that there will be more demand for electricity supply for the industries and businesses for their operations, something which the government wants to address through private sector investments in the energy sector. That was made known by Prime Minister (PM) James Marape when giving his keynote address at the Edevu Hydropower Reservoir Impoundment ceremony for the new hydropower project in the Central province on Friday 21st April. Marape said that there is no doubt that demand will continue to increase with the expansion of Port Moresby…
Prime Minister (PM) James Marape has assured the landowners of the land where the new state of the art hydropower dam project in Edevu in Central province stands that their outstanding land issues will be sorted out in due course. The PM said this during the Edevu Hydropower Reservoir Impoundment ceremony on Friday 21st April. Marape told the landowners and their leaders that he and his team of ministers will be meeting with the Central Province Governor Rufina Peter and Member for Hiri Koiari Keith Iduhu on Tuesday 25th April to discuss and sort out the matter of the outstanding…
Fuel pumps at PUMA service stations in the city of Port Moresby are pumping Unleaded Petrol in full again after the resupply arrived a day early. Re-fueling commenced at all PUMA Energy locations covering Port Moresby since midday yesterday, Saturday 22nd April. “Our team has delivered a great outcome for Port Moresby and managed a potentially challenging situation both professionally and efficiently,” commented PUMA Energy Country Manager, Mr. Hulala Tokome. “While there were circumstances out of our control (weather related in Australia), it is vital that we manage any situation. Our team has done this, minimizing disruptions to all our…
The residents of Central province and the nation’s capital Port Moresby should soon receive uninterrupted power supply from the Edevu Hydro Project in the upper Brown River in the Hiri Koiari district of Central province as the massive hydro dam prepares to come on line. This after the Prime Minister (PM) James Marape pushed the button to flood the valley floor with water to signify the final stages before the dam becomes operational. The significant ceremony took place on Friday 21st April at Edevu and was witnessed by the project developer, the landowners, and the provincial government and national government…
Fuel consumers should see the issue with fuel rationing in the city of Port Moresby ease up by this weekend when fuel distributor PUMA Energy receives its re- supply of fuel. The current fuel rationing carried out by PUMA in the city is due to the recent severe cyclonic weather in Northwest Australia, preventing the supply ship from heading out. According to PUMA Energy, the re-supply ship has been delayed by several days and is now planned for arrival on Saturday 22nd April to correct the Unleaded Petrol (ULP) shortage being experienced. “PUMA Energy is constantly monitoring our fuel supplies…
The BSP Financial Group Limited (BSP) is advising its customers that some of them will not be able to access the mobile banking services at this time as it continues to fix up its new Banking System glitches. In a notice today, BSP advised that the customer balance view function on BSP Mobile Banking *131# is unavailable at this time. The bank said that some customers may not be able to view their account and balance information. BSP team is working on fully restoring the services for customers to access. BSP once again apologizes for the inconveniences caused and thanked…