PNG PM defends deals

Friday, November 7, 2008

PAPUA New Guinea Prime Minister Michael Somare and his minister son say they have nothing to hide over property deals in Queensland worth more than $1 million.

The Courier Mail newspaper on Thursday reported that PNG's Ombudsman Commission will investigate the Somares' purchase of an executive-style apartment and a four-bedroom house in Cairns.

Prime Minister Somare bought the $395,000 three-bedroom apartment with a private plunge pool in inner-city Cairns in April last year, in a deal brokered by a Gold Coast lawyer, the paper said.

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Michael Somare has defended his million-dollar property investments in Cairns.

David Mitchell says constructions costs will fall.

Construction costs to drop

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CEC boss Roy Lavis tells people at last night’s meeting that the Cairns property market is still strong.

Crisis buys time

CRISIS? What crisis? Cairns' property industry leaders say there has never been a better time to buy a home or invest in the city. more

Power cut to 300 businesses

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Cairns establishes Guam link

CAIRNS is continuing to build its tourism links with the US Pacific island territory of Guam.
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<strong>Rewarding moment:</strong> CEC chairman and co-founder Roy Lavis.

CEC meets bank debt deadline

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