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

Link PNG and PNG Air Merger talks resurface

LINK PNG and PNG Air have reapplied to the Independent Consumer and Competition Commission (ICCC) for Link PNG to acquire a minority shareholding in PNG Air. In a joint statement, both PNG Air and Link PNG said ICCC’s approval would be beneficial to Papua New Guineans job security across both airlines and the continuation of the... 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

BSP Launches BSP Pay – “No Card, Just Pay”

BSP Launches BSP Pay – “No Card, Just Pay”
BSP PNG | In recognising the rapid adoption and increasing trend of digital commerce in the region, BSP Financial Group Limited (BSP) is introducing the new digital payment service, BSP Pay, which allows any BSP account holder in PNG to make payments online securely and instantly, without the use of card details. BSP Digital General... more →
Posted in: Papua New Guinea
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