New era for agro industry

The Australia-PNG Business Council Forum, held in Port Moresby last month, revealed the new era for the agro industry in the country.

The Business Council of PNG (BCPNG) tells Loop PNG that in five to 10 years’ time, bolder investments and technology will make agriculture ventures much more high yielding and technology intensive.

BCPNG Executive Director, Douveri Henao, says coupled with strong business models, the potential to grow the industry and involving locals is greater than ever before.

Investors confident in PNG economy: Sonk

Sonk made this remarks this afternoon when asked about the investors’ confidence in the country in a media conference in Port Moresby.

He said investors have already adjusted to the changing commodity prices.

“The fact still remains that the commodity prices will not change overnight but will take time to gradually change.

“Investors are beginning to accept the fact that the oil price will not change sooner but will take time.”

However, given the declining commodity prices, Sonk said investors have shown confidence to invest in the country.

Businesses must reinvest in PNG: O’Neill

“Companies cannot expect to take from the country only; they must give back to the country as well, give back more so to the people,” O’Neill said.

He made this comment during the launching of the rebranding of Oil Search Foundation yesterday.  

The foundation is the humanitarian arm of Oil Search Limited.      

“Thanked Oil Search directors and management for generous financial commitment of the betterment of the people, it will change lots of life in the country,” O’Neill said.

Marape blasts Micah for stopping investors

Marape said his statement was one of the most reckless statements by a Member of Parliament in the history of the nation.

“He is telling investors to wait until next year to create new jobs.

“How could any Member of Parliament actively campaign against the creation of new jobs for our country?"

Marape said the investment climate in Papua New Guinea remains positive and the economic fundamentals of the economy are sound.

“We are facing global economic headwinds with depressed commodity prices, but the market is returning to better pricing levels.”

US stocks rise, led by energy stocks as oil prices climb

Nine of the 10 industry groups in the Standard and Poor's 500 index gained. Energy and financial stocks rose most. Chipmaker Atmel jumped after accepting a bid from Britain's Dialog Semiconductor.

KEEPING SCORE: The Dow Jones industrial average climbed 90 points, or 0.6 percent, to 16,471 as of 12:24 p.m. Eastern time. The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 1,965 and the Nasdaq composite gained one point, or less than 0.1 percent, to 4,828.

US stocks open lower as Fed uncertainty weighs on markets

The Dow Jones industrial average fell 207 points, or 1.2 percent, to 16,462 as of 9:35 a.m. Eastern time Friday.

The Standard & Poor's 500 dropped 21 points, or 1.1 percent, to 1,968 and the Nasdaq composite declined 55 points, or 1.1 percent, to 4,838.

Financial stocks, which would benefit from higher interest rates, dropped the most in early trading.

Stocks, trading, investors, Dow Jones industrial average, Standard & Poor's 500

The government reported early Thursday that spending surged in May by the biggest amount in six years. That's a sign of stronger economic growth ahead.

The Dow Jones industrial average rose 32 points, or 0.2 percent, to 17,996 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index rose two points, or 0.1 percent, to 2,110.

The Nasdaq composite gained eight points, or 0.2 percent, to 5,129.

IAC/InteractiveCorp rose 4 percent after the company said it would spin off and Tinder, two dating sites, into a separate company.

Stocks make slight gains amid optimism on Greek debt deal

The Dow Jones industrial average rose 24.29 points, or 0.1 percent, to 18,144.07. The Standard & Poor's 500 index added 1.35 points, or 0.1 percent, to 2,124.20 and the Nasdaq composite rose 6.12 points, or 0.1 percent, to 5,160.09.

Prepaid debit card company Green Dot was among the biggest gainers. Its stock soared 40 percent after the company announced it had renewed its partnership with Wal-Mart for another five years. Netflix climbed in after-hours trading following the company's announcement that its board had approved a plan to split its stock.