Motor Vehicle Insurance Limited (MVIL) paid K42.1 million in dividend to Kumul Consolidated Holdings (KCH) for the financial year ending 31 December 2020. Despite the impact of the COVID-19 pandemic, MVIL was able to pay 67% of the budgeted dividend of K63.2m. When presenting the figures, MVIL Managing Director Mr. Michael Makap said the pandemic derailed the company from its strategic direction resulting in a low turnover compared to 2019. In 2019, MVIL achieved budget with an after tax profit of K109.8m compared to budget of K74.0m and paid total dividend of K70.0m inclusive of the K20.0m support to Air Niugini. “Last year, is a little low because of the COVID-19 situation that hit us so bad. We had to close the entity for almost two months. And that brought us a lot of loss revenue," Mr Makap said. He was appreciative of KCH’s support to MVIL and also thanked Minister for State Enterprises Hon. William Duma for his wisdom and guidance. The MVIL Board Chairman Eno Daera gave his assurance to KCH and the Minister that the company will continue to pay dividends, saying that “we will do it (pay dividends) every year and without fail, we will do it next year”.

Commander of the Papua New Guinea Defence Force, Major General Gilbert Toropo, DMS, CBE was pleased to advise that, as part of the ongoing support by the Government of Australia to Papua New Guinea, a delivery of emergency medical supplies is expected to arrive this weekend, onboard an Australian Defence Force C130 transport plane. The emergency supplies are to be flown to Mt Hagen, Goroka, Madang and Lae for distribution to the hospitals there under the supervision of the Provincial and local Health Administrations. Major General Toropo added that this is 'another great example of the Governments and Defence Forces of Australia and Papua New Guinea working together.' Picture courtesy: Australian High Commission

The Foreign Exchange (FX) liquidity has picked up since the second quarter of the year and this has been attributed to strong commodity prices, combined with project specific and donor foreign currency inflows. BSP Financial Group Limited’s Pacific Economic and Market Insights Q3 2021 Report, stated that the PNG Kina has remained unchanged against the US Dollar for a third consecutive quarter, while FX Reserves at the end of June 2021 show a 7 percent quarter on quarter increase, off the back of favourable inflows, according to Bank of PNG. BSP PEM Insight also stated that as of 30th June, 2021, the level of gross foreign exchange reserves was US$2.49 billion. Reserve levels have increased 7 percent quarter on quarter to June 2021, with favourable inflows offsetting the Central Bank’s monthly intervention of US$50 million. While FX liquidity rose 17 percent in the month of September, BSP Group General Manager – Treasury Rohan George said FX turnover over the past 6 months rose by 18%, supported by strong commodity prices, in particular Oil, Copper, Palm Oil, Coffee. “Firmer commodity prices, combined with increased project specific and donor foreign currency inflows offset the lost FX market inflows from the closure of the Porgera Gold Mine.” “Momentum in FX market turnover is likely to increase into year’s end. Outstanding FX orders have increased from low levels seen in June, and this is expected to continue in October and November with pre -Christmas import orders. We expect large foreign currency inflows in late November and December to satisfy any foreign currency backlog. “And to manage reduced FX liquidity, businesses should place FX orders (with correct documentation), as soon as possible, ensure orders are cash backed whilst awaiting execution, tax clearance certificates are current and reflect the expected FX order execution time,” George further stated. It was also reported that the Kina has been stable and unchanged against the US Dollar for the past 11 months; however, the pullback in the AUD/USD, amid Covid-19 related weakness in the Australian economy, strengthened the Kina/AUD, and the Australian dollar is expected to outperform into year’s end as the Australian economy opens up.

From 1st November fully vaccinated passengers can fly into Sydney and travel to NSW, Victoria and ACT without any requirement for quarantine. From 15th December, this will also apply for those travelling to Tasmania. Travel is initially be limited to Australian citizens, permanent residents and special visa holders. We do expect this to extend to business travellers and tourists soon after. Parents , or parents-in-law of Australian citizens and permanent residents , who are fully vaccinated are eligible to apply for approval to travel  to Australia at https://travel-exemptions.homeaffairs.gov.au/tep The requirements for vaccination certificates valid for travel to Australia include that; The certificate is in English; The certificate shows the traveller’s name as it appears in the passport The certificate shows either traveller’s date of birth or passport number The certificate shows the vaccine brand name, and either the date of each dose or the date on which the traveller completed a full course of immunisation. Certificates valid for travel includes (amongst others) the PNG International Certificate of Covid Vaccination (ICCV), the WHO yellow card, or the Australian Covid-19 Digital  Vaccination Certificate. The Green Card PNG Vaccination Certificate is not valid for international travel, as it does not include either the persons Date of Birth or their Passport Number.   However the PNG National Department of Health has been good enough to provide the capability for the ICCV to be issued at the airport prior to the departure of PX001 on Monday 1st, 8th, 15th and 22nd November. For passengers travelling to Sydney with only the Green Card PNG Vaccination Certificate they can have the ICCV issued in the international terminal after completing their PCR test but prior to check-in.  Passengers without any  valid certificate of vaccination valid for travel cannot be checked in. The PNG International Certificate of Covid Vaccination is also available from NDoH at email: martzpogo@gmail.com or  nonwovienna@gmail.com   Presently lead time for this document is three to four weeks. Vaccines deemed acceptable (as at present) for purposes of travel into Australia  are; Pfizer Australia Pty Ltd (Comirnaty) AstraZeneca Pty Ltd (Vaxzevria) Janssen-Cilag Pty Ltd (COVID-19 Vaccine Janssen) (also called Johnson & Johnson) Moderna Australia Pty Ltd.(Spikevax) Coronavac (Sinovac) Covishield (AstraZeneca/Serum Institute of India) Travellers need to have completed two doses  (one dose for Johnson & Johnson),  plus an additional seven days prior to departure. Passengers are required to complete a new “document” being the Australian Travel Declaration/ATD including as part of this an attestation (confirmation)  that the passenger is fully vaccinated and the certificate is valid.   The ATD is a mobile phone App and available for download at the Apple iPhone Store for iPhone, and Google Store for Android phones.  Initial  one off entry of set-up information takes about 15 minutes, so it is recommended this is downloaded and updated prior to coming to the airport. Manual paper forms will be available at check-in if required. Children under 12 are exempted from the vaccination requirements, but children 12-18 who are not fully vaccinated must enter 14 days hotel quarantine (with a parent/ guardian). All passengers departing internationally will still need to complete a negative PCR test at Port Moresby airport, at time of check-in.     Wearing of face masks in the terminals and on board the aircraft is mandatory, hand sanitisers are provided for your protection, and social distancing is followed wherever practical in order to ensure your international travel remains as safe as possible.

A total of 64 students graduated from The University of the South Pacific’s (USP) Niue Campus during the graduation ceremony on 22 October 2021. Of this, 27 students were from the School of Business and Management (SBM); two from the School of Law and Social Sciences (SoLaSS); 22 from the School of Pacific Arts, Communication and Education (SPACE); and 13 from Pacific TAFE. Fifty-eight per cent of the graduates were females. USP Vice-Chancellor and President Professor Pal Ahluwalia welcomed everyone and acknowledged Niue’s Government officials, including the Minister of Education, Honourable Sauni Tongatule. Professor Ahluwalia characterised the 15 master’s certificates awarded by the SBM and SPACE as “significant” and “a tribute to the University’s quality and magnificence.” To the graduands, Professor Ahluwalia said that what they had achieved was a significant accomplishment. He stated that, regardless of their subject of study, graduation was the result of several years of hard work on their part. “Today is a celebration of your achievements, as well as an opportunity for us to express our gratitude to the academic and professional personnel who have worked tirelessly to assist you in reaching your learning objectives.” “It is a compliment to each of you that your practice has produced such remarkable outcomes. I understand that getting to this point took a lot of effort over a long period.” He claims that as an alumnus, the student’s lifelong relationship with USP begins. “Thanks must go to the family and friends, employers, colleagues and mentors who have also played an important role in the success of each graduate,” Professor Ahluwalia emphasised. He said the University worked hard to instill a body of knowledge and a set of values to help students succeed.

We are in a pandemic that is affecting the globe. PNG is no exception. There is so much misinformation, whether deliberate or otherwise, being disseminated in the social media. A notice has been sent out about a “peaceful protest march” planned for Monday November 1. This is over the issue of mandatory vaccination. The notice being circulated is false and misleading. Vaccination is not mandatory and remains a personal choice. Whoever is caught spreading this false information causing pubic tension will be arrested and dealt with accordingly. Under the National Pandemic Act 2020, I as Controller, have issued a number of measures aimed at mitigating the spread of the COVID-19 virus. One such measure includes the ban of gatherings of more than 20 persons. This planned protest march is therefore not approved and against the efforts of the PNG government in stopping the spread of the virus. Also, the decision to decide specific measures for provinces rests in the provincial administration apparatus set up to tackle the pandemic. The NCD Provincial Health Authority, the NCD City Manager and the Office of the NCD Metropolitan Superintendent as a body is entrusted with deciding measures specific to the NCD and this includes whether to have a lock-down or not. This body, together with the National Control Centre, also approves events and activities within the city. Accordingly, this body, nor the NCC have approved this planned protest march for Monday. This march is therefore illegal and will not be allowed to go ahead. Organizers of this march will be identified and dealt with. NCD police have been directed to stop any gathering of more than 20 people around the city. I appeal to our citizens to please work with us. We are in difficult times and need your help, support and cooperation. We are not your enemy. COVID-19 is. So please help us to help you.

As a lead-up to the Indo-Pacific Business Forum October 28-29, American businesses operating in Papua New Guinea (PNG) and companies interested in U.S. markets will soon have the opportunity to join the largest global business network – the American Chamber of Commerce (AmCham). U.S. Embassy Port Moresby and key founding members officially kicked-off the creation of a local chapter of AmCham, enabling businesses to participate in increasing trade and investment between the United States and PNG. The kick-off event was held on October 27 at the Hilton Hotel where representatives from companies, including ExxonMobil PNG Limited and Coca-Cola, attended. Once fully established, the AmCham will deepen the trade and investment relationship between the United States and Pacific Islands by providing information and trade connections to members. The AmCham will also act as a platform to advance women’s and marginalized communities’ economic empowerment by actively recruiting women and minority-owned businesses and advocating for rights and protections across PNG. The AmCham will facilitate connections with U.S. educational institutions, as well as support partnerships in the areas of management, business development, and entrepreneurship. “American businesses embody entrepreneurship, promote equality in the workplace for women and the disabled, and are considerate of their impact on the oceans and land,” said U.S. Ambassador to Papua New Guinea, Vanuatu, and the Solomon Islands Erin E. McKee. “American businesses seek to strengthen the economies and livelihoods of the countries in which they do business, and this new AmCham will leverage the collective power of all of the member companies to bring sustainable and fair business practices to PNG.” ExxonMobil PNG Limited’s Managing Director Peter Larden said, “ExxonMobil PNG is proud to be a founding member of the AmCham in PNG and we look forward to working with other AmCham members to promote investment in Papua New Guinea.” Coca-Cola PNG General Manager (GM) Philippe Mondada added that Coca-Cola would “strongly support the establishment of an AmCham to advance community engagement and partnerships between business and development partners.” AmCham is a collective platform for Pacific and American businesses that helps members reach their full potential to advance the civic and economic development of PNG. The AmCham will provide its members and their employees with access to relevant sources of information, reliable business partners in the United States, and forums to promote their collective knowledge and experience. To boost prosperity in the region, the governments of the United States of America and the Republic of India are holding the fourth Indo-Pacific Business Forum (taking place online October 28-29). The Forum is an opportunity for high-level business executives to meet virtually with senior U.S. officials and business executives from throughout the Indo-Pacific region. Small and medium enterprises can also network and engage with business leaders from around the world. The free virtual panels and discussions center around resiliency and innovation, economic recovery from the pandemic, climate action, and digital innovation. Speeches during the Forum also focus on public health, supply chain diversification in key economic sectors, smart sustainable cities, digital connectivity data flows, climate awareness, and women’s leadership and empowerment. Learn more and register here: https://indopacificbusinessforum.com/  

Facebook is changing its company name as it shifts its focus to the "metaverse" and confronts wide-ranging scrutiny of the real-world harms from its various platforms after a whistleblower leaked hundreds of internal documents. Founder Mark Zuckerberg said Thursday that Facebook will change its corporate name to Meta, effectively demoting Facebook's namesake service to being just one of the company's subsidiaries, alongside Instagram and WhatsApp, rather than the overarching brand. The company formerly known as Facebook also said in a press release that it plans to begin trading under the stock ticker "MVRS" on December 1. A rebranding could be part of an effort to overhaul Facebook's reputation and turn the page following a series of PR nightmares, including misinformation on its platforms, content moderation failures and revelations about the negative effect its products have on some users' mental health. The name change, which was announced by Zuckerberg during the company's virtual reality and augmented reality conference Facebook Connect, aligns with its growing focus on the metaverse, which refers to efforts to combine virtual and augmented reality technologies in a new online realm. "I've been thinking a lot about our identity as we begin this next chapter. Facebook is one of the most used products in the history of the world," Zuckerberg said on Thursday. "It is an iconic social media brand, but increasingly it just doesn't encompass everything that we do." "Today we're seen as a social media company," he added, "but in our DNA, we are a company that builds technology to connect people. And the metaverse is the next frontier just like social networking was when we got started." Zuckerberg, who said he loved studying classics in school, said the name was inspired by the Greek word meta, which means "beyond." "For me, it symbolizes that there is always more to build." The company also replaced its corporate sign, which featured a picture of a "thumbs up," outside of its California, headquarters with one touting its new logo: a blue infinity sign. Facebook did not announce any executive changes on Thursday. But on Zuckerberg's personal Facebook page, his job title was changed to: "Founder and CEO at Meta." When asked by The Verge if he would remain CEO at Facebook in the next 5 years, he said: "Probably. I don't have a specific date how long I want to be doing this for. I guess what I could say is I'm very excited about the next chapter of what we're doing." Zuckerberg kicked off the big product event by teasing a series of new social, gaming and workplace concepts for the metaverse -- and by acknowledging the optics of focusing on such products amid renewed scrutiny of the company. "I know that some people will say that this isn't a time to focus on the future, and I want to acknowledge that there are important issues to work on in the present. There always will be," Zuckerberg said. "So for many people, I'm just not sure there ever will be a good time to focus on the future. But I also know that there are a lot of you who feel the same way that I do." "We live for what we're building," Zuckerberg added. "And while we make mistakes, we keep learning and building and moving forward." Facebook showed a series of concept videos that highlighted its vision for metaverse, such as sending a holographic image of yourself to a concert with a friend attending in real life, sitting around virtual meeting tables with remote colleagues or playing immersive games with friends. Facebook recently said it would hire 10,000 people in Europe to build out the concept. Source: CNN Business

“PNG Power has begun a mass disconnection exercise on industrial customers who are found to be tempering with electricity credit meters and paying less than the expected bills. “The mass disconnection also includes customers with hefty outstanding electricity bills. They are required to settle overdue bills to avoid disconnection by PNG Power technical team. “The disconnected industrial customers will be charged a reconnection fee of K10,000 and an additional advanced bill for a month before electricity supply is restored. “This nationwide disconnection exercise applies to government departments, state owned agencies, manufacturers and commercial retailers. “Moreover, domestic customers on Easipay meters will also be investigated, disconnected and charged accordingly. “Ongoing investigations have revealed that many high consumption industrial customers are tempering with credit meters and this is deemed illegal and amounts to power theft. “More than 10 industrial customers in Port Moresby have already been caught tempering with credit meters. They have been paying less than what they should pay depending on their high consumption ratings. Two (2) of these customers have been back-billed and PNG Power anticipates to recover more than K2 million in bills. “The practice of meter-tempering and overdue outstanding bills has hit hard on PNG Power’s revenue to increase generation capacity and maintaining power reliability in the country. “It is unfair when majority of the industrial customers are being loyal and paying their bills on time, yet many industrial customers stealing electricity. “If you are tempering meters or have not settled your outstanding bills, PNG Power urges you to do the right thing and start paying your overdue bills.”

The National Superannuation Fund Limited (Nasfund) and PNG Cancer Foundation (PNGCF) have signed a Memorandum of Understanding (MoU). This MoU enables the Fund to be the OFFICIAL DISTRIBUTION point for the PNGCF Awareness Information Education Communication (IEC) print materials. Nasfund’s extensive branch network throughout PNG will support the foundation’s public health and education outreach programs. The Fund’s collaboration with PNGCF is important, especially during these times where continuous engagement has become difficult due to the recent COVID-19 surge and the “Niupela Pasin“measures. Being the key distribution point for the foundation’s awareness materials, Nasfund branches will have PNGCF brochures available for members at their service counters. The MOU is a 12-month partnership and it commemorates Pinktober, the international Breast Cancer month. Speaking at the MoU signing Nasfund’s Chief Officer Human Capital Vincent Lialu said, “As part of our Corporate Social Responsibility (CRS) we owe to our members across the country to continuously raise awareness through education and information dissemination on issues surrounding health and well-being. This partnership will see Cancer Awareness print materials displayed at our Branches operations throughout in 15 Branches and 5 Service Centers to be accessible by 600, 000 plus members. The MOU will also see Nasfund Partnering with PNCF to roll its provincial awareness programs through our branches nationwide.” Representing PNGCF was Executive Manager, Priscilla Napoleon who expressed the foundation’s gratitude to Nasfund Board and Management for the timely support. Information pamphlet are available across Fund’s vast branch network to educate and raise awareness for its members on the prevention of cancer and encourage healthy lifestyle choices among Papua New Guineans.

PNG Football Association has finalized its 30 men squad for the upcoming 2022 World Cup OFC qualifiers scheduled in Doha, Qatar in March 2022. PNGFA president John Kapi Natto said the selection of the 30 men train-on squad was collectively done overtime by a team of experienced and upcoming national coaches consisting of coaches Bob Morris, Samson Steven, Erickson Komeng, Nathaniel Vincent and Goalkeeping coach Godfrey Baniau. The team of coaches were closely assisted by PNGFA Technical Director Paul Isorua and Technical Officers Harrison Kamake and Margaret Aka. Kapi Natto said the team of coaches and PNGFA Technical Dept carried out individual player analysis assessments on all the players based in the areas of technical, tactical, athletic and mental capabilities required of a football player. This formed the football part of the selection criteria used to select and trim the train-on squad to 30. Other off the field conduct and Covid-19 requirements are also been undertaken and screened to ensure that all players selected in the final travelling team fully meet the criteria to qualify to travel abroad in these new normal times. “We are proud to announce that New Zealand-based Tommy Semmy has confirmed his availability to join the team whilst David Browne who plays in the Finnish Premier League in Europe is yet to confirmed his availability hence named as 31st player." The final team will be named by incoming new Head Coach Marcos Gusmao once he is in the country next month Mr Isorua said the named 30 men train-on squad is not final and there are still opportunities for potential players not named in the squad to show cause during the current NSL competition matches as the team of coaches will still continue to carry out analysis on all players. Since the host country Qatar has strict Covid-19 visitor entry protocol in place that requires all visitors to be vaccinated and to undergo test 2 days before arrival in country, all travel delegation (player and officials) are encouraged to be vaccinated in order to meet this international travel requirement. The full 30-man squad is; Roland Warisan, Ila Ilarova, Russel Chris, Jordan Tobem (goalkeepers), Alwin Komolong, Philip Steven, Joshua Talau, Felix Komolong, Mathias Oyabuya (Centre Back), Daniel Joe, Koriak Upaiga, Joshua Oscar, Emmanuel Airem, Godfrey Haro (Wing Backs), David Muta, Simon Emmanuel, Michael Foster, Jacob Sabua, Tagi Yasasa (Midfielder), Nigel Dabinyaba, Stahl Gubag, Atti Kepo, Obert Bika, Paul Pala (Wing Midfield), Raymond Gunemba, Kolu Kepo, Mathew David, Jonathan Allan, Patrick Aisa, Tommy Semmy (Strikers)

A coffee fan from the Hellenic Republic of Greece was among the first buyers of the PNG coffee from the till operator on Pavilion duty, Michelle Jerewai (left). The Deputy Commissioner General Mrs Jacinta Warakai-Manua (center) and TPA Lead Ms. Alice Kuaningi were at hand to assist explain the different brands of the organically grown PNG Coffee. Coffee drinkers and chocolate fans have started buying these products since the PNG pavilion started selling them. Pavilion Supervisor Ms Daure Kiromat said since the PNG Pavilion team started selling the products after completing the commercial arrangements relating to tax, banking, bar coding and eftpos machine set-up with the UAE authorities last week, visitors to the pavilion have started buying the commercial products on sale at the pavilion. She said a Dubai Coffee shop owner bought several brands for testing and promised to return to buy more if any of the brands are acceptable to his taste. “The PNG Expo team will eventually match him up with the appropriate PNG Coffee producer(s) once he decides on the brand.” “We also intend to invite him to participate at the next virtual investment forum in November that would feature downstream processing and manufacturing opportunities”, Ms. Kiromat said. Coffee consumption in the Arabic Gulf states, including the UAE is increasing, especially among the young people. There is increasing interest in the Beauty Products, Virgin Coconut Oil and Honey as well. The team is telling the story behind all our products that come from our PNG Farmers and communities and this is drawing much interest and appreciation by the buyers. The interest in PNG products indicates that the country has potentials to access the the UAE market including in the niche and cottage industries product range. The team on the ground led by PNG Expo Commissioner General and PNG Ambassador to Brussels and European Union Ambassador Joshua Kalinoe is keen on making leads and promoting trade and investment in the Middle East during the course of the world expo. SOURCE: PNG WORLD EXPO 2020