Foreign exchange turnover growth was driven by both increased BPNG interventions and higher receipts from commodity exports. According to the 2022 BSP Quarter 4 Pacific Economic and Market Insights Report, foreign exchange (FX) market turnover for 2022 increased by 17.3% compared to the prior year. BSP Group General Manager for Treasury Mr. Rohan George said, “FX turnover in 2022 was supported by strong commodity prices, in particular Oil, Copper, Palm Oil, and Coffee. These firmer commodity prices assisted to offset the lost FX inflows from the closure of the Porgera gold mine.” “BPNG intervention in the FX market in the…
Author: PNG Haus Bung
Peru has closed its famous tourist site Machu Picchu indefinitely over the ongoing protests against the country’s new president. The government said it closed the site, and the Inca trail hike leading up to it, to protect tourists and citizens. Hundreds of people who were stuck for hours at the foot of the 15th Century Inca citadel have now been rescued. The violent protests, which have seen dozens of people killed, began when Peru’s previous leader was ousted. Rail services to Machu Picchu were suspended on Thursday after some train tracks were damaged, allegedly by protesters. It left 418 people…
Minister for Foreign Affairs Justin Tkatchenko MP, has tasked the Eminent Persons Group (EPG) responsible for revising Papua New Guinea’s Foreign Policy White Paper, to conduct an independent review of past revision endeavours to establish a modern direction for international diplomacy. “This priority objective for the EPG will become the basis of the Foreign Policy White Paper to clearly reflect the sovereignty of Papua New Guinea and how the Government will coordinate its Regional and International Engagements moving into the future,” said Minister Tkatchenko. In an official press conference today, Minister Tkatchenko introduced the EPG Members that comprises of Sir…
Prime Minister James Marape has presented a total of K28 million in cheques to Enga Province. During his official two-day visit to Enga Province, last Friday (20/01/23), PM Marape made these cheque presentations, to the Wapenamande MP, Hon. Miki Karok and the Enga Governor, Sir Peter Ipatas, in Wapenamanda. The Prime Minister was warmly welcomed and hosted by Wapenamanda Open MP and Vice Minister for Works and Highways Hon.Miki Kaeok, where the PM Marape presented the cheques, totalling up to K28 million. K5 million was presented to start work on the newly proposed Wapenamanda-Lower Lai-Baiyer road while another K5 million…
“Avengers” star Jeremy Renner says he broke more than 30 bones in the New Year’s Day snowplow accident that sent him to the hospital for more than two weeks. Renner, who plays superhero archer Hawkeye in the Marvel movie and TV “Universe,” posted a photo on Instagram with a caption that read: “Morning workouts, resolutions all changed this particular new years …. Spawned from tragedy for my entire family, and quickly focused into uniting actionable love I want to thank EVERYONE for their messages and thoughtfulness for my family and I …. Much love and appreciation to you all. These 30 plus broken…
If you’re finding it hard to see the stars in the sky where you live — you’re not alone. Data collected by citizen scientists around the world over the past 12 years shows that the night sky is disappearing due to rapid increases in light pollution. The data, reported in the journal Science, indicates the change in visibility reported is equivalent to an average increase in sky brightness of 9.6 percent per year. “The rate at which people are reporting that they see fewer stars was shockingly fast,” said Christopher Kyba, who led the study. Connie Walker, an astronomer and founding…
Boroko Police in the nation’s capital Port Moresby have arrested and charged 25 people for illegal street vending in a public place and they are now detained in the cells awaiting their court appearances. According to the Officer in Charge of Boroko Support unit Senior Constable Petrus Mund, the 25 people were street vending around the Stop and Shop area, the Tabari bus stop, and near the banks which are not designated areas for vending. Most of those who were arrested and charged were selling betel nut, while a few were selling other items. NCD Metropolitan Superintendent Silva Sika, said…
A butcher died while trying to slaughter a pig in Hong Kong on Friday, the city’s police said. The 61-year-old butcher, who worked in the Sheung Shui Slaughterhouse on the city’s northern outskirts close to its border with mainland China, was knocked to the ground by the struggling pig and sustained a wound from a 40 centimeter (15 inch) meat cleaver, police told CNN. The butcher had been about to kill the pig – which he had already shot with an electric stun gun – when it regained consciousness and knocked him over, police said. A colleague found the man…
North Queensland forward Coen Hess believes new recruit James Tamou is “back where he belongs” with the veteran prop set to take his career full circle in 2023. The two hard-running middle forwards will be looking forward to reuniting in the upcoming NRL Telstra Premiership season after the former Australian representative prop announced he would finish his decorated NRL career with the club which handed him his debut 14 years ago. Reflecting on his formative years as a Cowboy, 26-year-old Hess said Tamou was an important mentor when he burst onto the NRL scene in 2015 and believes the former Wests Tigers…
Millions of football fans celebrated in the streets of Argentina and partied through the night after their team’s epic World Cup victory last month. But one farmer in the country decided to pay his own a-MAIZE-ing tribute. He planted a specially designed cornfield, which has now created this huge image of Lionel Messi’s famous face! In fact it’s so big, you can see it from space! Farmer Maximiliano Spinazze was so happy about Argentina becoming World Champions that he decided to get to work on his Messi masterpiece. He used a special coding machine which was able to use an algorithm to…