Displaying cultural richness and variety, attendees have been reminded of the significance of foreign money as a reflection of PNG identification, values, and traditions. The Assistant Governor of Corporate Affairs, Mr Ron Sikar, gave the opening speech and officially declared the exhibition open on behalf of the Governor of BPNG, Elizabeth Genia, in her absence. “It is an honour to stand earlier than you right now as we open the Kina and Toea Exhibition, a showcase of our nation’s wealthy and evolving financial historical past as part of the Bank’s 50th anniversary celebrations,” Governor Genia said. She highlighted that the event is particularly important because it precedes the 50th anniversary of each the nation’s forex and the nation itself. Governor Genia additionally launched the Bank’s Vision 2050, launched in line with the anniversary celebrations.
Shells, notably the Kina and Toea, weren’t solely mediums of commerce but in addition symbols of wealth, social status, and cultural practices. “Deeply embedded in our traditions and cultural practices, shell cash additionally represented social standing, and it was used in marriages, deaths, and different significant ceremonies and events,” Genia defined. The arrival of colonisers marked a turning point in the nation’s economic history, leading to the introduction of up to date currencies on 19 April 1975.
The native palm oil industry holds shiny prospects for growth especially in the European Union market, main gamers s… Even as the Philippines and China’s maritime dispute heats up, distancing from Beijing is probably not in Manila’s best pursuits because of the financial advantages and strategic leverage that the relationship provides. The Financial Markets Authority surveyed banks, monetary advisors and insurance coverage companies to determine how AI is getting used in the sector. The Institute of Chartered Accountants of Bangladesh yesterday awarded 22 listed and non-listed companies throughout thirteen completely different sectors for presenting the most effective annual stories, built-in reporting, and corporate governance disclosures. Universal College Bangladesh, a pioneering worldwide training supplier in the country, signed a memorandum of understanding with Eastern Bank PLC with a imaginative and prescient to bridge the hole between trade and academia.
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August 12, 2024
The Indonesian Government has recommended that PNG adopt a similar strategy and implement a ban on raw material exports. “Our government has already declared its intention to pursue downstream processing, and we do not have to reinvent the wheel. Indonesia is correct next door, able to share its experience and supply assist,” mentioned Minister Maru. He continued, “For nearly five decades, PNG’s engagement with Indonesia has largely focused on border and security talks, which have not resulted in improved border services, direct delivery links, job creation, or significant commerce between our countries. It’s time for PNG to establish a sturdy commerce and investment relationship with Indonesia, which has already mastered downstream processing and worth addition. “Under the Marape-Rosso Government, PNG should shift away from being a mere exporter of raw supplies.
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The week’s finest stories, handpicked by BBC editors, in your inbox every Tuesday and Friday. Kamala Harris and Donald Trump shook hands once more on Wednesday on the event, hours after their debate showdown. As NYC turns 400, probably the greatest ways of understanding what propelled the town’s astronomical development is by paddling the rivers that constructed it.