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New Zealand interest rates expectations favor NZD bears


WELLINGTON: The New Zealand Dollar remains unable to sustain a push higher as the macroeconomic data continues to prevent a risk-on rally, which NZD benefits from to be sustained. Unfortunately, unable to sustain a rally doesn’t bring a lot of optimism to bulls as worries about RBNZ & continued pain in the dairy industry continues to be a drag on ... Read More »

New Zealand business sets to trade with Iran


WELLINGTON: New Zealand businesses are set to have an easier time trading with Iran after the domestic processes to lift the United Nations sanctions against the Middle-East nation were completed. Companies will no longer have to register with the Ministry of Foreign Affairs and Trade to trade with Iran as of today according to Foreign Minister Murray McCully. “We are ... Read More »

New Zealand exports of fruit, vegetables raise in 2015

fruits veg

WELLINGTON: The New Zealand export of fresh fruit and vegetables has grown considerably in 2015 compared to the previous year. This is shown in figures from Fruit and Vegetables Facts. In total New Zealand was able to sell 1.27 million tonnes of fresh fruits and vegetables abroad in the last year. This was a record with an increase of 18%. ... Read More »

FlexiGroup H1 cash profit climbs 4% to $44.3 mln


WELLINGTON: FlexiGroup acting chief executive David Stevens says big revenue falls in its leasing arm are being reversed and expects strong interest in solar batteries to boost the earnings of its biggest business, Certegy. On Wednesday, the equipment financier and credit card issuer reported a 4 per cent rise in 2016 first-half cash profit to $44.3 million and confirmed full-year ... Read More »

Queenstown Airport boosts H1 profit 31%


WELLINGTON: Queenstown Airport lifted first-half profit 31 percent as domestic and international passenger numbers grew. Net profit rose to $6.2 million in the six months ended Dec. 31, from $4.7 million a year earlier, the company said in a statement. Revenue rose 19 percent to $15.7 million. “Sustained domestic and international passenger growth, driven by increased capacity and full aircraft, ... Read More »

New Zealand avocado exports volume drop 40%


WELLINGTON: Avocados are in short supply in New Zealand following last year’s bumper crop and a cold spring that have seen export volumes drop by 40 per cent. The smaller volume of avocados has seen prices jump on the domestic market, though despite the increase in price, avocados are reportedly still selling fast due to growing demand. Figures released by industry ... Read More »

New Zealand strawberry exports increase to meet new markets


WELLINGTON: New Zealand strawberry growers have seen increased demand for exports as markets open up around the world. “It’s broader now, in terms of where we can go, so it’s opened up opportunities for us a bit more,” North Island grower Phil Greig says. “We definitely did more export this season. We always do a lot through Asia – Hong ... Read More »

Suncorp’s general NZ business posts 21% drop in 1H profit


WELLINGTON: Suncorp Group, the ASX-listed general and life insurer whose local brands include Vero, AA Insurance and Asteron Life, posted a 21 percent drop in first-half profit from its New Zealand general insurance business as claims grew at a faster pace than premiums. The insurer’s New Zealand general insurance business reported a segment profit of A$60 million in the six ... Read More »

New Zealand beef exports to Taiwan rise in 2015


WELLINGTON: Beef exports to Taiwan rose to a record in 2015, propelling it to the country’s third-largest beef market behind the US and China. In 2015, New Zealand’s beef exports to Taiwan jumped 36% to $188.6 million, while the volume increased 20% to 23,442 tonnes, according to Statistics NZ data compiled by the Meat Industry Association. That pushed it above ... Read More »

Auckland property values down


WELLINGTON: Cooling Auckland housing market helped slow the pace of property value growth across New Zealand as regulatory curbs imposed last year continue to dent investor demand in the country’s biggest city. The average value of a New Zealand home rose almost 13 percent to $556,206 in January from a year earlier, slowing from a 14 percent annual increase in ... Read More »

Air New Zealand to invest $25 mln improving Queenstown flights

air nz

WELLINGTON: Air New Zealand passengers should be facing less disruption flying in and out of Queenstown Airport following a $25 million plan. The national carrier announced on Thursday evening it will fit its 68-seat ATR turboprop fleet with new navigation technology. Known as Required Navigation Performance (RNP AR) technology it enables specially trained pilots to fly to lower altitudes with ... Read More »

Pipfruit New Zealand expects to hit $1 bln in exports early


WELLINGTON: Export apple returns have increased by 105 percent in the past four years from $341 million in 2012 to an estimated $700 million this season. Pipfruit New Zealand chief executive Alan Pollard said 2022 was the target for a billion dollars in export returns but it now looked like that would be achieved by 2020. He said growth would be ... Read More »

New Zealand honey exports soar 41% to new record in 2015


WELLINGTON: New Zealand honey exports soared 41 percent to a new record last year as the country benefited from demand for high-value manuka honey. The value of honey exports jumped to $285 million in 2015 from $202 million in 2014, according to the latest Statistics New Zealand data. The country’s honey exports have surged from just $36 million a decade ago, ... Read More »

New Zealand dollar heads 1.4% fall


WELLINGTON: The New Zealand dollar is heading for a 1.4 per cent fall on a trade-weighted basis this week after the Reserve Bank’s acceptance that it may have to cut rates and Fonterra Co-operative Group’s downgraded forecast for the farmgate payout this season eroded investors’ appetite for the kiwi. The trade-weighted index fell to 71.05 at 5pm yesterday from 72.08 ... Read More »

New Zealand imports rise to record high last year


WELLINGTON: New Zealand imports rose to a record high last year as a decline in the value of the currency pushed up values. The country’s imports increased 2.5 per cent to $52.53 billion compared with the year earlier, according to data from Statistics New Zealand. Annual exports slid 2.2 per cent to $49 billion. The annual trade deficit widened to ... Read More »

New Zealand wine exports reach record $1.5 bln high for 2015


WELLINGTON: New Zealand wine exports have reached a new record high of $1.54 billion for the 2015 year, up 14% on 2014 according to New Zealand Winegrowers.  New Zealand wine exports have reached a new record high of $1.54 billion for the 2015 year, up 14% on 2014 according to New Zealand Winegrowers. ‘The new record level of wine exports ... Read More »

New Zealand imports rise to record high in 2015


WELLINGTON: New Zealand imports rose to a record high last year as a decline in the value of the currency pushed up values. The country’s imports increased 2.5% to $52.53 billion compared with the year earlier, according to data from Statistics NZ. Annual exports slid 2.2% to $49 billion. The annual trade deficit increased to $3.55 billion from $1.18 billion in ... Read More »

New Zealand shares rise slightly


WELLINGTON: The New Zealand share market managed to eke out a small gain on Wednesday, rising 6.28 points or 0.1% to close the session at 6148.43. Accounting software firm Xero (XRO.NZ) was among the day’s gainers, rising 1.19% to NZ$17.00. Gas and electricity distributor Vector (VCT.NZ) was also up, gaining 2.21% to NZ$3.24; while fellow energy company Meridian Energy (MEL.NZ) ... Read More »

Air New Zealand signs deal with STA Travel to boost revenue


WELLINGTON: Air New Zealand has signed a three year partnership with STA Travel to boost revenue and promote inbound tourism to the youth and student market. The deal will focus on generating sales using  STA Travel’s global distribution network in the priority markets of New Zealand, Australia, United Kingdom, North America and Asia. Air New Zealand chief sales and commercial ... Read More »

New Zealand export log prices jump


WELLINGTON: New Zealand export log prices jumped higher this month, as falling oil prices pushed down shipping rates while a decline in the kiwi dollar made the country’s goods more attractive to overseas buyers. The average wharf-gate price for New Zealand A-grade logs rose to $115 a tonne in January, from $104 a tonne in December, according to AgriHQ’s monthly ... Read More »