HOME ABOUT US ADVERTISE SUBSCRIBE SITE MAP HELP CONTACT WORK FOR US   Wednesday 8 September 2010 Make PNG my HomePage    ECONOMY STORIES [ 173 Results - Showing Results 1 to 30 ] Kina slips from recent highs against Aussie dollar (Thursday, 6 November 2008) THE KINA has retracted from previous highs against the Australian dollar as the Bank of PNG’s mid-rate puts it at A55.73c – a 7% drop from A59.93c on Friday and a double-digit fall from just over a week ago. Full Story... Soaring precious metal demand fails to overwhelm Perth Mint (Friday, 31 October 2008) DESPITE a recently lagging gold price, strong demand for physical gold and silver overseas has triggered shortages but Australia’s Perth Mint remains well supplied with its full range of items, especially following a delivery last Friday. Full Story... ANZ: Credit squeeze and risk impact resource project lending (Thursday, 30 October 2008) THE combination of the difficult lending environment, slashed commodity prices and poor PNG rankings this year in global risk assessment reports has led PNGIndustryNews.net to talk to major lender ANZ about its resource project financing criteria and plans. Full Story... Expect surprises from China: economist (Thursday, 30 October 2008) THE global recession will be buffered by urbanisation and industrialisation in China, however further bad news can be expected in the near term, a senior economist has warned. Full Story... Kina holds sway against US dollar, soars against axed Aussie dollar (Tuesday, 28 October 2008) THE KINA is continuing to gain ground against the Australian dollar as commodity prices take their toll on PNG’s neighbour. Full Story... Line up your funding ducks (Tuesday, 28 October 2008) THAT funding is harder to come by and debt is more expensive will come as no surprise to most miners. However, one Australian resources advisor said companies can still get money, but only if they have all their ducks in a row. Full Story... Base metal massacre (Thursday, 23 October 2008) BASE metals took a hammering overnight as the global economic slowdown reduces demand for commodities, while the Australian share market plunged 4% in morning trade with major resource stocks leading the downward charge. Full Story... Local POMSoX companies outperform amid world financial crisis (Thursday, 16 October 2008) KINA Securities chief executive Syd Yates has confirmed local stocks on the Port Moresby Stock Exchange were mirroring emerging stock markets and outperforming the global crisis. Full Story... International markets show some recovery (Tuesday, 14 October 2008) AMERICAN, European and Australian markets have rallied in the past 24 hours as bulls return to the fray after last week’s stock market carnage. Full Story... Mutual fund redemptions force major share sell-off (Tuesday, 14 October 2008) AS THE world financial crisis hit commodities and resource companies hard last week, the share prices of PNG-focused companies have also been slammed by mutual fund redemptions. Full Story... No country will avoid slowdown: IMF (Thursday, 9 October 2008) THE International Monetary Fund has warned it is too late to avoid a major downturn, but has called for strong and coordinated actions from world leaders and policymakers to prevent worst case scenarios. Full Story... Kina gets stronger (Thursday, 9 October 2008) MASSIVE falls in the Australian dollar have the kina reaching high ground this week as one kina now equates to A58.55c. Full Story... Key PNG commodities take a bashing (Thursday, 9 October 2008) MARKET mayhem is hammering commodity prices, especially copper, nickel and oil, all of critical importance to PNG’s export revenue. Full Story... Lihir: Strong gold prices supported by credit crisis, production costs and demand (Tuesday, 7 October 2008) LIHIR Gold does not anticipate the gold price going far backwards in the context of the current world financial crisis and rising production costs, and strong demand for jewellery. Full Story... Sharp falls on commodities and markets to impact PNG (Tuesday, 7 October 2008) PNG is set to face fallout as further stock market carnage this week hits key PNG-focused companies and commodities, with a 7% copper price dive in a single day. Full Story... Treasurer indicates PNG is shielded from troubled financial markets (Thursday, 2 October 2008) GROWING world economic turmoil has so far left PNG unscathed as Treasurer Patrick Pruaitch puts in a timely reminder about the nation’s healthy cash position and loose ties to troubled financial markets. Full Story... ASEAN sees Asian benefits from Western economic meltdown (Thursday, 2 October 2008) ASIAN mining sectors are well-placed to weather the financial storm according to a leading figure of the Association of South East Asian Nations. Full Story... Asia Pacific millionaires get richer (Friday, 26 September 2008) DESPITE the downturn, the combined wealth of millionaires in the Asia Pacific region rose 12.5% last year to a staggering $US9.5 trillion (K24.19 trillion, $A11.3 trillion) driven by demand for commodities, according to a new report by Merrill Lynch and Capgemini. Full Story... Nasfund looking at a cool 25% return despite financial storm (Thursday, 25 September 2008) NATIONAL Superannuation Fund anticipates a return of around 25% for the year despite continued market volatility marked by bank failures and the US Federal Reserve Bank’s $US700 billion (K1.78 trillion) planned purchase of devalued American debt-based securities. Full Story... Kina jumps 18% on Aussie dollar, 4% on US dollar (Thursday, 25 September 2008) PNG’s kina has enjoyed considerable appreciation over the past three months, gaining more than 18% in value to the Australian dollar, but National Superannuation Fund sees a small turnaround ahead. Full Story... Pruaitch delivers supplementary budget report (Thursday, 25 September 2008) THE 2008 Supplementary Budget surplus has dropped 39% from earlier expectations chiefly on the back of falling commodity prices. Full Story... ASIC bans short selling, market bounces (Tuesday, 23 September 2008) THE Australian Securities and Investments Commission has followed the lead of regulatory bodies in the United States and Europe, and banned covered and naked short selling in an attempt to bring stability back into the market. Full Story... Megaprojects moving ahead despite concerns over rising inflation (Thursday, 18 September 2008) COMMUNITIES celebrated PNG’s 33rd Independence Day on Tuesday with thousands of people gathering at various venues throughout the nation to commemorate the day. Full Story... Spike in gold price resurrects Lihir Gold (Thursday, 18 September 2008) THE turmoil in international markets this week that kicked off with the bankruptcy of US investment giant Lehman Brothers has led to a sharp resurgence in the gold price in overnight trading, with Lihir Gold cited as a worthy buy. Full Story... PNG in bottom half of countries for business (Thursday, 18 September 2008) PNG is ranked 95th out of 181 economies as a nation to conduct business in according to a yearly report from the World Bank’s International Finance Corporation. Full Story... ADB sees inflationary gloom while PNG beats growth expectations (Thursday, 18 September 2008) ASIAN Development Bank has released an updated report warning of more inflation in food and oil prices while high-priced exports have PNG and the Solomon Islands leading growth in the Pacific region. Full Story... Credit crunch far from over, Australia far from safe (Thursday, 18 September 2008) DON’T dream it’s over. The credit crisis, that is, despite the fact that Australia should ride out the turmoil better than the United States or Europe. Full Story... Pacific economic growth to cut unemployment, poverty: ABD (Thursday, 11 September 2008) ECONOMIC growth in the Pacific generally, led by Papua New Guinea, is gathering steam and could help reduce poverty and unemployment, according to the Asian Development Bank’s latest Pacific Economic Survey 2008. Full Story... Four companies set to list on POMSoX (Tuesday, 9 September 2008) The Port Moresby Stock Exchange is set to pass the level of 20 listings with at least four more public companies lining up to list on the exchange, which has hosted successful floats for New Guinea Energy, Airlines PNG and Kina Asset Management in recent months. Full Story... Lihir landowners get asset windfall (Thursday, 4 September 2008) PNG’s Mineral Resources Development Company has transferred nearly half a billion kina (about $US195 million) worth of assets to Mineral Resources Lihir. Full Story... 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