via Post Courier

GLOBAL mining giant Rio Tinto has started to cut staff numbers in its Australian operations, and intends closing its Sydney office as it battles falling commodity prices and threats to demand from Europe’s debt crisis.
Rio Tinto’s Australian manager David Peever told Reuters by telephone that around 30 support and services staff in Sydney and an undisclosed number of employees at the company’s much larger operation in Melbourne in would be cut.

What do the National Goals and Directive Principles mean to you?

1. Pick one out of the five National Goals and Directive Principles and write about what it means to you in 1,500 words or less before Monday the 27 of August 2012.
2. Competition is open to Students in the following categories: Tertiary, College and Highschool.
3. Entries can be in English or Tok Pisin

via PINA

Papua New Guinea’s investment in Australia reached US$1.2 billion, equal to 12.8% of gross domestic product (GDP) in 2010, according to Asian Development Bank country economist Aaron Batten.

This was 350% higher than the amount of money invested by Australian companies in PNG, he said.

by Patrick Paniwa Sakal & Gynnie Kero

TAX concessions for mining, oil and gas were given under the tax law, a well-placed source in Internal Revenue Commission said.

via The National online

OFFICIALS from Indonesia and Papua New Guinea hope to schedule a meeting in which the return of graft fugitive Djoko Tjandra will be the topic for discussion.
Foreign Affairs Minister Marty Natalegawa confirmed the Indonesian government’s interest in such a meeting while discussing a letter sent by PNG.

Congratulations Mr O'Neill, Prime Minister of Papua New Guinea!

We are aware that this is a vital stage in structuring how, when and whether or not policies are implemented in the next five years.

While you are in the process of appointing the best people who would best serve the interest of all Papua New Guineans we would like to remind you and our new government the following:

By GORETHY KENNETH



By MALUM NALU

GENEROUS tax concessions given to mining and gas companies are contributing to low government revenue per capita, according to Asian Development Bank country economist Aaron Batten.

He said the average effective tax on PNG’s mining, oil and gas companies was now on the low side of fiscal regimes across the world

by Mark Straton