PNG News, Wherever You Are
“downdraft” in the Chinese economy and the effect of ongoing trade negotiations are among the top concerns in the global economy, though U.S. growth is still solid, a Federal Reserve governor said on Wednesday.
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Asian share markets were in a muted mood on Thursday and looked set for a sleepy session with China still on holiday and no major economic data on the diary.
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The Australian dollar remained near a two-week low on Thursday, as investors wagered that interest rates would most likely be cut this year due to mounting growth risks at home and abroad.
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U.S. oil prices dipped on Thursday after U.S. crude inventories rose and as production levels in the country stayed at record levels, but OPEC-led supply cuts and the crisis in Venezuela supported markets.
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A newly-established village resort on New Ireland’s west coast is seeking support to grow the tourism industry. The Kokola Rainforest Beach Retreat is an initiative combining the area’s tourism and agriculture sectors.
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A special government-appointed inquiry excoriated Australia’s financial sector for misconduct on Monday, referring two dozen cases to regulators for possible legal action but leaving the structure of the country’s powerful banks in place.
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Australia’s corporate regulators will be subjected to a new oversight body in a shake-up of the banking sector recommended on Monday by a high-powered independent inquiry into financial sector greed and malpractice.
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The Bank of PNG held a press conference today (January 25) following the public’s concerns over the current kina exchange rate and foreign exchange market.
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A secondary school in Port Moresby was forced to turn away 152 of its Grade Nine students due to the lack of space to accommodate them.
Parents of students turned away have rallied together to postpone classes for Grade Nines classes, until this issue has been sorted.
Government accounts officially opened yesterday, Monday, January 14, paving the way for the State to begin payments for programs budgeted for under the 2019 National Budget.
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