Westpac remains committed to supporting both graduates and employees new to the banking industry by providing opportunities to build essential banking knowledge. As part of this, ten staff members from various functions recently earned their Fundamentals of Banking certification from the Institute of Banking and Business Management (IBBM). The program provided essential training in banking principles, financial literacy, and customer service excellence, reinforcing Westpac’s commitment to building a knowledgeable and skilled workforce. The Fundamentals of Banking course ensures employees have a strong foundation in key banking concepts, enabling them to deliver exceptional service and support financial inclusion efforts in Papua…
Author: Maxine KAMUS
As Papua New Guinea looks forward to celebrating its 50 years of Independence, major business houses in the country such as banks and superfunds will be closing their doors tomorrow Wednesday 26, February to commemorate the fourth anniversary of the founding Father of PNG the Late Grand Chief Sir Michael Somare. The National Superannuation Fund (Nasfund) in a public notice stated that all its branches will be closed on Wednesday 26 February 2025 to commemorate the memory of the Late Great Grand Chief Right Honorable Sir Michael Thomas Somare. “All our branches will be closed on Wednesday 26, February and…
A final dividend of K1.21 per share was declared and is payable on 21 March 2025, which brings BSP Financial Group Limited’s (BSP) full year dividend for Financial Year 2024 to K1.66 per share, a 16% increase on FY24. BSP’s Group CEO Mark Robinson, was delighted to report that a record pre-tax profit for the Group, of just over K1.8 billion, up a healthy 18% on FY23. When commenting on the key Group highlights, Mr Robinson said the Group’s strong results were underpinned by the lift in volumes and revenue in nearly all their businesses, which was offset in FY24…
Simberi Gold Operations has achieved a key milestone in its expansion efforts, successfully processing the first ore through the newly commissioned MMD Sizer on February 13, 2025. The milestone marks a significant step in ramping up operations, with throughput reaching 500tph on the first day of testing. Simberi Gold Mine stated that the commissioning process saw the completion of key components, including belt tracking, dry commissioning, and the construction of a ramp for loader access. “Initial results indicate excellent material handling, with minimal slippage and a finer product size, demonstrating the effectiveness of the new crushing circuit.” Operations training with…
The National Airport Corporations (NAC) will now reintroduce the pay parking at the Port Moresby International Airport effective February 24, 2025. In a statement, the National Airport Corporations stated that they will be reintroducing Pay parking at the Port Moresby Jackson International Airport for both the Domestic and International terminals effective February 24, 2025. “Pay parking was previously offered at the Domestic Terminal, however, it was temporarily discontinued due to unforeseen circumstances.” “It is now being re-introduced to ensure that the public car park areas are well maintained and are safe and secure for all airport users,” NAC said. Effective…
Minister for Petroleum Jimmy Maladina has acknowledged the recent report in The Australian regarding Twinza Oil’s proposed financial restructuring. The process, led by Tor Investment Management through a Receiver-led Scheme of Arrangement in Australia, will allow existing convertible noteholders to convert a portion of their debt into equity. This court-supervised restructuring is not an insolvency or bankruptcy proceeding and is expected to be completed within three to six months. “This development was brought to the Department’s attention before filing and is fully accounted for in the recently signed Gas Agreement between Twinza Oil, MRDC, and the State of Papua New…
Australia Deputy Prime Minister and Minister for Defence Richard Marles hosted Papua New Guinea Defence Minister Dr. Billy Joseph for the 2025 Australia-Papua New Guinea Defence Ministers Meeting in Brisbane. Both Australia and PNG Defence Ministers reaffirmed the defence relationship as a key pillar of the Comprehensive Strategic and Economic Partnership between the two countries and discussed an ambitious agenda to modernise their longstanding defence partnership. Reflecting on PNG’s 50 years of independence, both Ministers recalled the creation by PNG’s leaders of the PNG Defence Force (PNGDF) in 1975 from the Pacific Islands Regiment and the Australian Army. “The closeness…
Landowners representing the Petroleum Development License two (PDL 2) areas in Kutubu, Southern Highlanders Province and the Southeast Mananda of Hela Province have removed the 14 days ultimatum given to the Government through Petroleum Minister Jimmy Maladina yesterday at Airways after a peaceful discussion with the Minister. The petition given to the Government through the petroleum minister was to address the issues affecting the rights and benefits of the people. The three agenda they presented to the Government that needs to be address was: The petroleum minister to immediately make a ministerial determination Under Section 168A of the Gas and…
The Minister for Petroleum Jimmy Maladina has confirmed that he will proceed with filing a Supreme Court reference to seek legal direction on the implementation of the Ministerial Determination on impacted Petroleum Development License two (PDL 2) and to clarify whether the Kutubu beneficiaries are preserved under the Oil and Gas Act. Minister Maladina said that to ensure clarity and certainty, he is seeking the Supreme Court’s guidance on this matter. He stated that both parties (Landowner Group the Fasu and Foe Tribe) have been invited to join the proceedings should they wish to do so. Minister Maladina said that…
Nambawan Super Limited (NSL) announced the appointment of Ms. Paula Allen as an Independent Trustee Director on the NSL Board. NSL stated that Ms. Allen brings over 25 years of executive and director experience across a variety of sectors, including superannuation, finance, wealth management, technology, emerging technologies, and infrastructure in both Asia and Australia. “Throughout her career, Ms. Allen has held numerous high-level positions, including Director, Adviser, Chief Executive Officer, Head of Strategy, and roles focused on Operations, Merger and Acquisition advice (including superannuation and investments), Finance, Technology, and Change Projects.” “Her extensive experience includes serving as Chair on various…