Working together on the next generation of infrastructure

Opinion by Shane Rosenthal, Resident Representative of the Asian Development Bank’s Timor-Leste Resident Mission Last week government officials, development partners and civil society groups will have met in Dili as part of an annual gathering to review achievements over the last year and consider priorities and plans going forward. Participants will speak about successes and…

IMF lowers 2014 global growth forecast

The International Monetary Fund has lowered its 2014 global economic growth forecast, warning of “negative surprises” from the United States and China and geopolitical risks in Ukraine and the Middle East. The IMF projected global growth of 3.4 per cent for this year, down from its April estimate of 3.7 per cent.  In 2013, the…

Condition of bigeye tuna worsening

The Secretariat of the Pacific Community (SPC) this week released new assessments on the status of key regional tuna stocks – skipjack, yellowfin and bigeye tuna – which show that skipjack and yellowfin remain in a reasonably healthy state, but bigeye, the mainstay of the tropical longline fishery, has now been reduced to less than…

PNG, Europe eye more trade

Bilateral trade and exchange between Papua New Guinea and Europe is worth almost K100 million (US$40 million) annually and both governments are positively pursuing ongoing opportunities to expand this further. Prime Minister Peter O’Neill said this on Tuesday when receiving Ambassador of the Kingdom of the Belgium Jean-Luc Bodson who paid a courtesy call on…

Sergeant may lose chance of leading Samoa’s police here

An investigation against a police Sergeant could affect his chance of leading Samoa’s police contingent as part of RAMSI’s peacekeeping mission in the Solomon Islands. Sergeant Lualua Manila is scheduled to lead Samoa’s police contingent to the Solomon Islands later this year.  However, this may not happen if the alleged sexual harassment complaint against him…

PNG records 2172 new HIV cases

OF 31,945 people living with HIV in the country, 2172 of them are new infections. This was revealed during the National Economic Fiscal Commission conference in Kimbe, West New Britain last week. Deputy director ofthe PNG National AIDS Council Secretariat Dr Moale Kariko said prevalence was highest in the National Capital District and the Highlands…

Gold price volatile

THE price of gold has been relatively volatile in the last year ranging from US$1189 (K2,950) to US$1417 (K3,516), St Barbara said. The company has ‘hedged’ 153,000 ounces of future gold production at A$1415 (K3,282) per ounce giving certainty to the revenue it will receive on those ounces.  This meant St Barbara will receive A$1415…

Financial education expo for PNG

The Microfinance Expansion Project through the Centre for Excellence in Financial Inclusion is participating in the national Financial Inclusion Exposition from the 16th -20th July 2014 in Kokopo, East New Britain Province. The event is organised by the Bank of Papua New Guinea with its theme “Save now to make your dreams come true” with…