PNG Cyber Monitor

News that matters in Papua New Guinea Image for illustration only. For image text, go to  https://visual.ly/community/infographic/business/emerging-markets-are-characterized-high-income-disparities High global prices in minerals, commodities brighten PNG’s future PORT MORESBY: The future for Papua New Guineans and their country will be bright as long as the prices of minerals and commodities remain high. With the government’s initiative to set up a Santiago Principles’ -based Sovereign Wealth Fund (SWF), good governance of the people and country’s wealth is given prominence. And windfalls from the high global prices of minerals and commodities will beef up the SWF with high revenue. The excess savings in SWF can then be invested globally into high-return activities and then used to develop the country, transforming it into an emerging market economy. This was reported by The National : Striving to transform economy

Science & Technology Image for illustration only. For image text, go to  https://www.techrepublic.com/pictures/photos-the-worlds-self-driving-cars-racing-toward-2020-and-beyond/  (The world's self-driving cars, in photos) Autonomous EV hits major technology snags PORT MORESBY: Tesla, the world’s largest Electric Vehicle (EV) and autonomous car manufacturer was recently reported to be struggling financially. It reported accumulated losses of up to US$700 billion (K2.37 billion) to date, after failing to meet its target launch of its EVs and autonomous cars in 2017. That all but confirm that autonomous EV technology is still just not there yet. PNG Cyber Monitor reproduces below two AP news reports giving five common sense reasons why experts think autonomous cars are many years away and Tesla claiming to have developed a new computer chip for autonomous driving: Five reasons experts think autonomous cars are many years away TECH NEWS Wednesday, 24 Apr 2019 10:30 AM MY

Science & Technology Image for illustration only. Fir image text, go to  https://www.eetimes.com/document.asp?doc_id=1334009#  (The Race for a Better EV Battery) Battery that can power EVs more than 900km in a single full charge developed in labs in Germany PORT MORESBY: In the global race to come up with the most efficient battery to power Electric Vehicles (EVs), a Swiss startup claims it has developed a non-flammable, lithium-based battery capable of offering cars over a 900km range. The high-density Innolith Energy Battery uses an inorganic electrolyte to power the battery and is being developed in Innolith AG laboratories in Germany. Read on for an update on the furious race in the global battery technology for EVs: Swiss startup announces EV battery with over 900km range TECH NEWS Monday, 8 Apr 2019 9:30 AM MYT The company opts for inorganic materials to power their EVs instead of organic materials. — AFP Relaxnews Innolith AG, a Swiss startup spec

World Finance & Economy Image for illustration only. For image text, go to  https://www.forbes.com/hong-kong-billionaires/#22383d363e46  (Hong Kong's Richest 2019) Is lower growth of millionaires in HK a global worry? PORT MORESBY: The South China Morning Post (SCMP) reported that Hong Kong’s millionaires swelled at the slowest since 2014 due to the trade war-induced bear market. Is that really anything for the rest of the world to worry about? If the global economic outlook is gloomy for China and the rest of the world, then what about the recent news that Hong Kong has overtaken Japan as the world’s 3rd largest stock market. That also means China is practically the world’s 2nd and 3rd largest stock market! (Read this earlier posting for context: https://pngcybermonitor.blogspot.com/2019/04/china-now-worlds-no-2-3-largest-stock.html (China now World's No. 2 & 3 largest stock markets?) PNG Cyber Monitor reproduces below the SCMP report: Wealth H

Science & Technology Image for illustration only. For image text, go to  https://pandaily.com/chinas-three-major-telecom-operators-confirm-5g-schedules-and-6g-in-the-works/  (China’s Three Major Telecom Operators Confirm 5G Schedules and 6G in the Works) https://news.cgtn.com/news/3d3d414d7a637a4e32457a6333566d54/index.html  (China launches 5G network in Shanghai railway station) https://consumer.huawei.com/en/press/news/2019/huawei-launch-mate-x-5g-foldable-phone/  (Huawei Launches HUAWEI Mate X,the World’s Fastest 5G Foldable Phone) The global 5G intense hype PORT MORESBY: As super high-telecommunications technology developed nations continue to claim to be the first to launch 5G, talk of 6G is already in the works. It doesn’t matter whether one is the first to launch 5G because science and technology is ever evolving, improving or upgrading. So, it is rather perplexing why there is now a global debate on who was the first to launch 5G. At the end, it is not who was the

Supermarket sales/deals for the week Visual for illustration only Be a smart consumer! PORT MORESBY: Groceries and food are a daily necessity for everyone. It is with this in mind that PNG Cyber Monitor is making a weekly compilation of deals offered by supermarkets here. Be a smart consumer, get the best out of your kina by checking out the prices and planning your shopping. The list below is a service for the convenience of our readers and followers. This is it: Brian Bell Celebrating Mum’s Day Sunday May 12: More than 100 items listed for special sale plus over K30,000 in prizes for mum! 8 X K2,000 major prizes plus 24 X K500 Brian Bell gift vouchers & More! - As advertised in The National on Monday April 15, 2019 Stop&Shop Promo from April 22 to May 12: Spend K90 or more to patricipate in Mother’s Day Lucky Draw for a chance to win mum a share of K180,000. - As advertised in The Nation al on Friday April 26, 2019 Promo from April 25 to 28: Local P

World Finance & Economy Image for illustration only. For image text, go to  https://www.azquotes.com/quotes/topics/survival-of-the-fittest.html Communist China told to ‘Let the fittest survive’ in business PORT MORESBY: The head of China’s largest and oldest state-owned company in Hong Kong wants the communist government to let competitive forces play a bigger role in certain market-oriented industries. China Resources Group chairman Fu Yuning said the government should continue to dominate industries monopolised by state entities, such as power distribution and transmission, but industries that are already populated by private enterprises or quasi-state companies should be allowed to compete. “Let the fittest survive,” he added. Will communist China take heed of Fu’s advice? Read on for the details: China Business Head of China’s biggest state firm in Hong Kong urges Beijing to deepen market reforms · Fu Yuning, chairman of China Resources Group, says comp

News that matters in Papua New Guinea Image is for illustration only. For image text, go to  https://www.weforum.org/agenda/2017/10/what-you-need-to-know-about-sovereign-wealth-funds/  (What is a sovereign wealth fund?) Can a SWF propel PNG into a wealthy, developed nation? PORT MORESBY: It is not surprising that Papua New Guinea (PNG)’s government has set the wheels in motion to establish a resource-based Sovereign Wealth Fund (SWF) to steer its people and country into a developed nation in the 21st Century digital era. After all, SWFs from all over the world manage a total of US$7.45 trillion (K25.18 trillion) in assets, up 13% from last year, according to a new report from research firm Preqin. And in a matter of only five years of setting up the Timor-Leste Petroleum Fund (TLPF), the tiny state's SWF ballooned from US$205 million (K692.9 million) to US$6.9 billion (K23.3 billion). That means Timor-Leste’s 1.4 million nationals have K23.3 billion in SWF assets,