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| July 2010 |
PNG – AUSTRALIA TALK ABOUT WEALTH MANAGEMENT
PNG and Australia held an inter-governmental meeting discussing the management of wealth generated from PNG’s forthcoming LNG project. The meeting reportedly looked at ways PNG could best utilise funds generated from the resource project to secure long term financial benefits. . . . [more]
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PNG INVOLVED IN INTERNATIONAL RESEARCH PROJECT
Researchers from PNG Institute of Medical Research (PNGIMR) are taking part in a major malaria research project that includes PNG as a case study in understanding how national and international programs control the disease. . . . [more]
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NEW AGREEMENT ON KOKODA TRACK
A new joint agreement to protect the special values of the historic Kokoda Track was recently signed by Australia and Papua New Guinea (PNG). The joint understanding agreement aims to support sustainable development of the Owen Stanley Ranges, Brown River Catchment and Kokoda Track region. . . [more]
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STUDY TO SCOPE PNG - CAIRNS SHIPPING ROUTES
The North Queensland Ports Corporation has commissioned a study that will investigate the potential for increased shipping trade between PNG and Cairns. The Corporation has commissioned a three-man team consortium to undertake the research. . . . [more]
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| June 2010 |
MALL DEVELOPMENT DRIVING EMPLOYMENT
 Vision City Waigani Megamall is expected to generate employment for at least 400 people when it opens in September 2010. Developers of Vision City, Rimbunan Hijau, have begun advertising recruitment vacancies for the new shopping centre . . . [more]
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WORLD BANK INVEST USD 140 MILLION
The World Bank’s private lending arm, the International Finance Corporation (IFC), announced the investment of US$140 million in PNG-based Bank South Pacific (BSP). According to media sources the IFC is buying a large stake from the PNG Government-owned investment body – the Independent Public Business Corporation of Papua New Guinea. . . . [more]
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RUGBY LEAGUE MIGHT FOSTER FOR ECONOMIC DEVELOPMENT
Several high profile commentators have suggested there may be potential for Rugby League to facilitate development in PNG. Former NSW Rugby league coach Phil Gould and Massy University academic Dr Rochelle Stewart-Withers have both suggested Rugby League could be used as an effective tool for development in PNG. . . [more]
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PNG WELCOMES NEW AUSTRALIAN PRIME MINISTER
PNG Prime Minister Sir Michael Somare welcomed Australia’s new leader Julia Gillard. Somare congratulated Gillard on attaining the role as Australian Prime Minister, and extended an invitation to visit PNG. . . . [more]
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| May 2010 |
CONSTRUCTION BEGINS ON LNG PROJECT
According to media reports, construction has commenced on the PNG LNG project with the mobilisation of key engineers and contractors. Sale revenues from Oil Search, one of the project partners, have doubled as a result of increasing oil and gas prices. . . . [more]
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AMENDMENTS TO OMBUDSMAN COMMISSION
PNG Member of Parliament, Moses Maladina, believes the Ombudsman Commission will retain its power despite Parliament passing recent constitutional amendments. . . . [more]
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ATTORNEY GENERAL RESIGNS
Allan Marat has resigned from his position as PNG’s Attorney-General. Several news sources believe Marat’s resignation followed tense discussions with PNG Prime Minister Sir Michael Somare. Marat recently voiced concerns over recent constitutional changes and several large scale development projects in the country. . . [more]
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AUSTRALIA SIDELINES EMISSION TRADING SCHEME
The Australian government has formally removed its emissions trading scheme from its current budget, raising questions over the future of carbon markets in Papua New Guinea and Indonesia. . . . [more]
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