Saturday, May 05, 2012

Welcome to Diwai Hut, Goroka

By MALUM NALU

Diwai Hut, North Goroka, is a 100% nationally-owned guest house in North Goroka that is set in a stunning location, with spectacular views of North Goroka looking towards University of Goroka, as well as one of the best kept gardens in Goroka.
I enjoy having breakfast and then walking out to the verandah at the back of the restaurant, which offers spectacular views.
Next time you're in Goroka, stay at the Diwai Hut.














Fom Goroka to Port Moresby

By MALUM NALU

Below are pictures of my flight last Sunday, May 29, from Goroka to Port Moresby, starting from when the Air Niugini Q400 left Goroka Airport to when we prepared to landing in Port Moresby.
These include some stunning aerial shots of the skyway between Goroka and Port Moresby.
Enjoy.

















Pictures of a flight from Port Moresby to Goroka

By MALUM NALU

It was a week ago today, Saturday, May 28, 2012, that I flew from Goroka to Port Moresby to cover the visit by former kiap (patrol officer) Bob Cleland, as well as attend the launching of the 2012 Goroka Show.
Here are pictures of the flight from Port Moresby to Goroka, from board in Port Moresby to disembarking in Goroka, plus some amazing aerial shots.
Enjoy.


















PNG 2012 budget to be affected by global demand for commodities


By MALUM NALU

Papua New Guinea’s budget revenue forecast in 2012 and the medium term is expected to be affected by global demand for primary commodities, according to Bank of PNG’s quarterly economic bulletin.
Governor LoiBakani said global demand for primary commodities was expected to decline in 2012 and in the medium term, in response to a weak global demand and improvement in supply conditions.
“However, oil price is expected to remain elevated as a result of supply constraints associated with the geopolitical tensions in the Middle East and North Africa,” he said.
“This is likely to affect PNG’s budget revenue forecast in 2012 and the medium term. 
“As of March 23, 2012, the prices of gold fell to US$1,654.10 per ounce after a high of US$1,718.28 at the beginning of the month, while the price of oil continues to remain volatile and traded at US$105 per barrel.
“The International Monetary Fund (IMF) projects inflation in the advanced economies and some of the emerging economies to ease further towards the end of 2012 as a result of the low global demand and expectations for low inflation.
“According to the FAO Food Price Index (FFPI), international food prices have started to pick up again to an average point of 215.3 in February 2012, after dropping to its lowest level of 210.8 points in December 2011.”
 Bakani said inflationary pressures in the domestic economy would come mainly from domestic demand pressures associated with high inflows and spin-off activities relating to the construction of the LNG project and increased government spending.
“The upside risks to domestic inflation will stem from: the volatility in import prices; a fall in prices of export commodities; depreciation of the kina exchange rate; and higher than budgeted government expenditure,” he said.
“The government must be disciplined in its spending, particularly during the national election period, to keep within the 2012 budget.”

Friday, May 04, 2012

East New Britain's ailing cocoa industry gets a new lease on life


By ABIGAIL APINA

East New Britain’s ailing cocoa industry – which has lost millions of kina because of the dreaded cocoa pod borer (CPB) - has received a shot in the arm with the establishment of a K2.8 million project for rehabilitation work, The National reports.
 The PNG Cocoa Coconut Institute (PNGCCI) has reported that in East New Britain alone, cocoa production had dropped from 20, 227 tonnes to 8,000 tonnes per year between 2004-2005 and 2009-2010,  representing a drop in monetary value from K141.6 million to K56 million over the period.
 NGIP Agmark signed an agreement with PNG Sustainable Development Program (PNGSDP) and PNG Cocoa Coconut Institute (PNGCCI) last Friday to work together cocoa rehabilitation in East New Britain.
 PNGSDP is providing K2.8 million and will manage finances while Agmark will implement the project. 
 PNGCCI will provide technical advisory services to the project and provide lead in the household survey, monitor and evaluate the project.
 The project includes establishment of farmer training and dormitory facilities, and facilitates training of farmers on industry best agronomic practices of growing and managing cocoa trees for maximum production.
 It is understood that the training facility will be constructed at Tokiala, one of Agmark’s plantation in ENB.
 Nurseries and bud wood gardens will also be established in various project sites where they will be easily accessible by the farmers.
 The project will establish nurseries at strategic locations to supply 234, 591 cocoa seedlings equivalent to 282 hectares of new cocoa plantings to 1, 172 households.
 Each household will receive 200 seedlings for planting and these households will be from Kadaulung, Sikut, Warongoi, Toma, Bitagalip, Tokiala and inland Baining.
 The agreement states that production and productivity in the cocoa industry has declined significantly over the last 10 years due to age and senility of current of current cocoa plantings, incursion of the cocoa pod borer (CPB) and farmers not having access to good planting materials.
 It highlighted that since CPB was first detected in the province in 2006, it has become a significant economic pest with drastic decline in cocoa production as infestation levels over the economic threshold limit of 50-60 percent.
 The impact of CPB on individual farmers and the provincial economy was devastating as smallholders were now switching away from cocoa farming to other subsistence activities.
According to an overview of the project, the combined impacts of these factors have devastated the industry.
 It said 97% of cocoa production came from smallholders and over 76% of households rely on cocoa for incomes.
 It said impact on rural livelihood was particularly severe with a significant flow on effects on health, education services and general business as people’s main source of income declined.
 The K2.8 million project is expected to make a substantial contribution to the rehabilitation of smallholder cocoa production in East New Britain and other cocoa-producing areas.
 The project will end on March 2015.

InterOil sets first quarter 2012 conference call date

InterOil Corporation (POMSoX: IOC), today announced that it will release financial and operating results for the first quarter of 2012 before the market opens for trading on Monday, May 14, 2012 with full text of the news release and accompanying financials available on the company’s website at
www.interoil.com.
 A conference call will be held on Monday, May 14, 2012, at 7:30 a.m. Central (8:30 a.m. Eastern) to discuss the financial and operating results, as well as the company’s outlook.
The conference call can be heard through a live audio web cast on the company’s website at
www.interoil.com or accessed by dialing (612) 288-0337.
A replay of the broadcast will be available soon afterwards on the website.