Briefs

Bank eases stance
IN view of the ongoing improvement in economic activity in the second quarter of 2019, with non-mineral private sector activities remaining robust and stability in other macroeconomic indicators, including inflation and exchange rate, the Bank of Papua New Guinea decided to further ease its stance of monetary policy. Therefore, the monetary policy signalling rate, the Kina Facility Rate for the month of August 2019 was reduced by 50 basis points from 6.00 per cent to 5.50 per cent.

Workers’ pride
SECURITY personnel employed by a landowner contracting company Raibus Security Services Ltd (RSSL) at Basamuk town’s main gate have a huge pride working for the Ramu NiCo project. RSSL guards George Pasuk, Wano Ngorongo, Walter Augustine and Gamog Gubagub said they took pride in their job and that it had allowed them to come in contact with State and business representatives.

Working ties
CHINESE employees working with the country’s first nickel/cobalt mine developer Ramu NiCo Management (MCC) have built a better understanding and working relationship with their local colleagues. This is obvious at MCC Basamuk port where a Chinese foreman Renjie Yu, already had a household name and was well-liked by his local colleagues. Yu, who comes from Tianjin province of China joined the Ramu NiCo project in 2012 and worked at the company’s Basamuk port in Raicoast, Madang.

China warns India
NEW DELHI: China has told India not to block its Huawei Technologies from doing business in the country, warning there could be consequences for Indian firms operating in China, sources with knowledge of the matter said. India is due to hold trials for installing a next-generation 5G cellular network in the next few months, but has not yet taken a call on whether it would invite the Chinese telecoms equipment maker to take part, telecoms minister Ravi Shankar Prasad has said. Huawei, the world’s biggest maker of such gear, is at the centre of a geopolitical tug-of-war between China and the United States. – AFP