Swiss Banks Accused of Hiding Indonesian Billions

Asia Sentinel, Source: https://www.asiasentinel.com/ Thwarted in the courts and snubbed by the Swiss government, the estate of the late Indonesian diplomat Adam Malik is demanding that Switzerland establish a commission to help it recover what are described as billions of Swiss francs in accounts and gold deposited during the tumultuous... more →
Posted in: Oceania Asia

BREAKING NEWS: PMJM’S PORGERA TRIP STOPPED BY LANDOWNERS DEMANDING A COPY OF THE FRAMEWORK AGREEMENT

Since the government and Enga Provincial government announced your major deal with Barrick over a month ago, no one has seen the copy of the signed Agreement including Mineral Resources Enga who are supposed to be signatories of the Agreement (they did not sign) and Kumul Minerals Board and Management who are the SML11 owners and... more →
Posted in: Papua New Guinea

Kina Bank setting international standards: Competition boost

May 19, 2021 by toksavebot, EMTV Online Kina Bank is resetting its Indicator Rate for lending to business in a move that reflects international standards and will drive competition in banking in Papua New Guinea (PNG). In a bold move the bank will reduce its Indicator Lending Rate (ILR), effective 1 June 2021, to 6.25%. The ILR in... more →
Posted in: Papua New Guinea

Many lack financial literacy skills: Trainer

Thomas Honga and Dr. Francis Odhuno giving their report findings recently. Photo: PNGNRI
May 18, 2021 by toksavebot, Post Courier Online | BY PATRICK TOM Many people in the macro small to medium business space still lack financial literacy skills thus it is important to undergo these training for growth and success. Professor Binta Abubakar of Oshoma Business Consultant said 85 per cent of the MSMEs are women doing business... more →
Posted in: Papua New Guinea

Media Release: BSP Reduces Equity on SME Credit Enhancement Scheme Loan

MEDIA RELEASE | WEDNESDAY 12th MAY, 2021 BSP PNG | Owners of Small to Medium Enterprises in Papua New Guinea can now access the National Government supported loan facility – SME Credit Enhancement Scheme Loan at the BSP Financial Group Limited (BSP) with a lower equity requirement and higher maximum loan amount effective immediately. BSP... more →
Posted in: Papua New Guinea

106 New Investments Registered in 2020

Despite the COVID-19 outbreak taking full force in March of 2020 when Vanuatu and many investor source destinations close their borders, foreign investment interest in Vanuatu continued to be registered by the Agency. According to the Vanuatu Foreign Investment Promotion Agency (VFIPA) the total number for New Investments registered... more →
Posted in: Vanuatu

Aid not helping businesses: Barker

By DALE LUMA, The National PNG BUSINESSES have not seen the direct impact of the Government’s K5.6 billion economic stimulus because it was more of an alternative budget financing plan than a stimulus plan, an economist says. Institute of National Affairs executive director Paul Barker told The National that “it must be recognised... more →
Posted in: Papua New Guinea

Economy needs to be on mainstream: Economist

By DALE LUMA, The National PNG INSTITUTE of National Affairs (INA) executive director Paul Barker says the country is currently caught up in an economic side-alley and needs to get back out into the mainstream. Barker said Moody’s (international credit rating agency) downgraded PNG’s rating from neutral to negative on the basis... more →
Posted in: Papua New Guinea

Editorial: Be careful with investment deals

THE Government appears to be treading on a fine line in dealing with multinationals in the mining and hydrocarbon sectors. It has only a year to see the successful conclusion of at least one major project agreement, if at all. The protracted court battle and renegotiations with Barrick Niugini Ltd over the reopening of the Porgera... more →
Posted in: Papua New Guinea
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