Bill English, Deputy Prime Minister & Finance Minister of New Zealand, says the $4.7 billion from sales of state assets will be used to rebuild Christchurch and reinvest in public infrastructure.» Read More
Europe's banks prepare for ECB tests with new provisions. LONDON- The tens of billions of euros euro zone banks set aside for loan losses in their latest annual accounts may have substantially reduced the chance of institutions failing ECB stress tests in the next few months.
SINGAPORE/ KUALA LUMPUR- Even before the loss of its Flight MH370, Malaysian Airline System was bleeding cash, prompting talk that it may need another financial rescue from state investor Khazanah Nasional Bhd, its majority shareholder.
Theo Spierings, CEO of Fonterra, says soaring demand from China in the first-half helped the firm post a record payout to its farmer shareholders.
The flashy internet mogul, who also goes by the name Kim Schmitz, is fighting a bid by U.S. authorities to extradite him from the lavish estate he lives in in New Zealand to face online piracy charges over the now closed file sharing site Megaupload.
A rebound in the U.S. and Australian economies will weaken the New Zealand dollar, says Bill English, Deputy Prime Minister and Finance Minister of New Zealand.
Bill English, Deputy Prime Minister and Finance Minister of New Zealand, says while China will see short-term trouble as a result of its credit issues, consumer demand remains strong.
*Xero leads charge, now NZ's 2nd- biggest listed company. WELLINGTON, March 25- New Zealand technology firms are rolling into global markets, selling software to businesses that locks down mundane tasks like accounting and expenses, rather than developing slick social media apps that consumers download free of charge.
WELLINGTON, March 21- Internet entrepreneur Kim Dotcom on Friday suffered another blow to his fight against extradition to the United States to face online piracy charges after New Zealand's highest court rejected his appeal to access evidence to be presented at the hearing.
*Genesis offer to open March 29 after bookbuild. WELLINGTON, March 13- New Zealand is seeking to raise as much as NZ $800 million through the sale of a minority stake in power company Genesis Energy Ltd, setting a low price range and offering other sweeteners to draw investors to the last of its state asset sales.
WELLINGTON, March 13- New Zealand's central bank raised interest rates on Thursday and signalled an aggressive tightening this year, taking the lead among developed economies in lifting rates off record lows as it tries to quell inflation pressures in an outperforming economy.
WELLINGTON, March 13- New Zealand's central bank raised interest rates on Thursday and signaled further rises through early 2017, taking the lead among developed economies in tightening monetary policy as it tries to quell inflation pressures in an outperforming economy.
WELLINGTON, March 13- New Zealand's central bank raised its benchmark cash rate by 25 basis points to 2.75 percent on Thursday, as expected, and flagged a series of further increases to keep inflation pressures in check as the economy gains momentum. New Zealand's 2.75 percent official cash rate compares with Australia's 2.50 percent, the U.S.
WELLINGTON, March 10- New Zealand will hold its general election on Sept. 20, Prime Minister John Key said on Monday, in a vote that is likely to focus on his centre-right National Party's economic record. He said the date was influenced by a Group of 20 summit due to be held in Australia in mid-November, to which New Zealand has been invited to attend as an observer.
*Russia hikes interest rate after rouble slide. *Copper falls to 3- month low on China slowdown concerns. LONDON, March 3- The rising threat of war between Ukraine and Russia spooked markets and sent investors scurrying for relative safety on Monday, pushing stocks down sharply and lifting gold to a four-month high.
TOKYO, March 3- Stocks slid while oil prices shot up on Monday, after Russia bloodlessly seized a part of Ukraine, escalating tensions between Russia and the West to a level not seen since the end of the Cold War.
TOKYO, March 3- Stock prices plummeted while oil prices shot up on Monday as escalating tensions between Russia and the West after Russia bloodlessly seized a part of Ukraine.
TOKYO, March 3- Escalating political tensions in Ukraine pressured Asian stocks on Monday, forcing anxious investors to cut their exposure to riskier assets in favour of traditional safe haven bets such as the Japanese yen and Swiss franc.
WELLINGTON, March 3- The yen rallied to a three-week high against the U.S. dollar on Monday while the Australian and New Zealand dollars stumbled as escalating political tensions in Ukraine prompted investors to dump higher-risk currencies in favour of lower-risk, liquid ones.
Paul Bloxham, Chief Economist, Australia & New Zealand at HSBC, expects the Reserve Bank of New Zealand (RBNZ) to start withdrawing liquidity soon.
Theo Spierings, CEO of Fonterra, says the global dairy trade remains strong even as the firm comes off its peak season and explains the firm's relationship with Danone.