The seventy (70) per cent (%) Motor Vehicle Insurance Limited (MVIL) shares in BSP sold by the State was purchased by the Mineral Resources Development Company (MRDC), a Papua New Guinean buyer and not a foreign investor as speculated following the announcement recently. This was revealed by the Minister for State Enterprises, William Duma this week, putting it out there for the public and business community to know and easing some concerns that were raised regarding the future of the MVIL and its ownership. “Ownership of these shares in BSP remains within our country, giving the opportunity for everyday Papua…
Author: Emmanuel MAIPE
Passengers and crew members on board an Air Niugini international flight into Port Moresby city this morning, are all safe and accounted for after the aircraft experienced a difficulty whilst landing at the Jackson International Airport. Air Niugini confirms this, stating that flight PX011 from Manila to Port Moresby landed safely at 08:25 this morning. Shortly after touchdown, one of the aircraft’s tyres deflated, and the aircraft came to a controlled stop on the runway. All passengers and crew members remained safe and on board throughout the response. According to Air Niugini, after assessment and consultation with the flight crew…
The BSP Financial Group Limited has become a Gold Sponsor for the much-anticipated 2025 Special Economic Zone (SEZ) Summit with a sponsorship of K200, 000 presented this week to the Minister for International Trade and Investment. The presentation event took place on Tuesday 15th July at the BSP Ravalian Haus in Port Moresby city where Minister for International Trade and Investment, Richard Maru, MP, thanked BSP for its contribution and support of the summit, emphasizing the critical role of public-private partnerships in achieving economic independence. “We appreciate BSP’s commitment as Gold Sponsor. The bank’s support sends a clear message —…
The matter of medical professionals working at the cancer unit facility at Lae Angau Memorial Hospital being on casual salary has not been resolved at this time, prompting the Opposition to call on the prime minister and questioning why nothing has been done about it yet. Opposition Leader Douglas Tomuriesa was in Lae city recently where he visited the hospital’s cancer unit when he was confronted with this issue that is still lingering despite many calls to the Health Department and the National Government. Speaking at a press conference this afternoon in Port Moresby city, Tomuriesa said the cancer unit…
The country is marking 50 years of independence, celebrating strong unity and diversity and what better way to do it than celebrating it as well with a financial institution that has been around since the early days of Papua New Guinea’s journey as a country. That institution is the TISA Bank, born from the service and sacrifice of the country’s very own Teachers, Policemen and Women, Soldiers, Nurses, Doctors, and public servants, TISA Bank isn’t just another institution. In a statement, TISA Bank says it takes pride in charting a bold path forward, with plans to open more than 20…
Members of the National Superannuation Fund (Nasfund) are being advised that this week, branches throughout the country will be closed temporarily for a few days. According to Nasfund, this temporary closure is for an upcoming staff engagement event which is part of the superfund’s commitment to fostering a positive and productive work environment. “This engagement event is crucial for our team’s development and overall service improvement. We appreciate the understanding and support of our members, employers and stakeholders during this period,” said Nasfund’s Chief Executive Officer (CEO) Rajeev Sharma. The closure will take place on the following dates: · Nasfund…
Polling for the Usino- Bundi Open seat by election in the Madang province is expected to commence tomorrow and candidates and their supporters are being urged to conduct themselves accordingly. Madang Provincial Election Manager Mr. Sponsa Navi says it is important that the by election is free, fair and safe for everyone. “The voters themselves, be sure that you are voting for the right person and not to be forced to cast your vote. You have your own free will and constitutional right to choose your own leader, so, vote wisely,” Mr. Navi urged. The Provincial Election Manager also warned…
The National Airport Corporation (NAC) recently experienced attacks by criminals on its contractors working on two separate airports projects in the country, something that is being strongly condemned by authorities and the business community. Air Niugini is one organization that also strongly condemns such lawless actions against the NAC contractors working on building and improving airport facilities in the country. Air Niugini Chief Executive Officer (CEO), Mr. Gary Seddon said, “These cowardly attacks are an affront to the collective efforts aimed at enhancing Papua New Guinea’s air transport infrastructure.” Air Niugini stands in solidarity with the NAC and all stakeholders…
Polling for the four national seats going for by election this year commenced over the weekend on Saturday 12th July as per the Papua New Guinea (PNG) Electoral Commission (EC) schedule; however, polling so far for one by election seat is being delayed. The by election polling being delayed here is for the Usino- Bundi seat in Madang province and it is due to certain issues being faced by provincial electoral office on ground. According to the Madang Provincial Election Manager Mr. Sponsa Navi, this delay was due to the access to election funds and security issues. However, he hopes…
The National Superannuation Fund (Nasfund) branch in Wewak, East Sepik province will now be operating out of a new location commencing tomorrow, Monday 14th July. Nasfund says its valued members, employers and the public can access the new office site located at the Tang Mow Plaza on level 3. This relocation marks the conclusion of Nasfund’s temporary arrangement with BSP Financial Group Limited, who kindly provided office space during this period. Nasfund’s Chief Executive Officer (CEO) Rajeev Sharma is grateful for this arrangement. “The Fund extends its sincere appreciation and acknowledgment to Mr. Mark Robinson, Chief Executive Officer of BSP…