Archive for March, 2009

MARKET CLOSE: NZX 50 falls; Michael Hill, NPX drop

Article – Businesswire

March 31 – New Zealand shares fell, driving the NZX 50 Index to its biggest decline this month after the Obama administration gave automakers one last chance to restructure, while forcing General Motors CEO Rick Wagoner to resign.
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Historic global event a local success

Press Release – Christchurch City Council

History was made on Saturday night when an estimated one billion people in 4,000 cities switched off for Earth Hour – making it the largest environmental event on the planet – ever.
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Meridian land swap plan a poor deal

Press Release – Forest And Bird

Forest & Bird rejects Meridian Energy’s proposed land swap to mitigate its planned destruction of the Mokihinui River on the West Coast. “Meridian is trying to offer this farm land as a sweetener so it can flood the wild Mokihinui River valley for …
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RBNZ buying currency when it should be selling

Press Release – Manufacturers and Exporters Association

The New Zealand Manufacturers and Exporters Association (NZMEA) is backing calls to intervene in currency markets if necessary in order to keep the dollar at a stimulatory level. The Bank of New Zealand has flagged this possibility in response to a rising …
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Following your favourite world sporting events

Press Release – Expedia

With great international travel deals, New Zealanders can look forward to attending their favourite international sporting events
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Thumbs Up To Govt Broadband Investment Strategy

Press Release – City Link

Today’s announcement by Communications Minister Steven Joyce outlining the Governments broadband strategy, has been welcomed by CityLink CEO Neil de Wit. CityLink provides dedicated fibre services and PublicLAN Broadband to Wellington business & Government …
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Fibre Plan Sending the Right Signals to Industry

Press Release – NZ Council for Infrastructure Development

“Government’s announcement of a $1.5 billion plan to roll out fibre to the home and business is sending the right signals to industry”, says New Zealand Council for Infrastructure Development. High speed broad band connectivity is the infrastructure …
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Business Confidence Slightly Improved

Press Release – JP Morgan

·        Business confidence improved marginally ·        Firms’ own activity expectations worsened ·        RBNZ to deliver further cuts to OCR
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Biggest installation of cables NZ has ever seen

Press Release – Institution of Professional Engineers New Zealand

IPENZ commends the Government’s broadband investment initiative – however considerable attention will need to be given to the logistics of installing the huge lengths of cable required to deliver the new high speed broadband. “More than 25,000 km of …
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Sixteen law changes due tomorrow, April 1st

Press Release – Employers and Manufacturers Association Northern

Sixteen law changes due tomorrow, April 1st Employers have a great deal of change to understand and implement from tomorrow, April 1st. The Employers & Manufacturers Association (Northern) says its list (below) of 16 major areas of law change relate …
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Architectural Projects Honoured

Press Release – New Zealand Institute of Architects

Hyde Park Corner memorial among outstanding projects honoured in NZIA 2009 New Zealand Architecture Awards
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Make your tax cut work for you

Press Release – Retirement Commission

Retirement Commissioner Diana Crossan is urging New Zealanders to make the most of their tax cut which comes into effect 1 April. An increase in the minimum wage also comes into effect tomorrow. “Don’t let the extra money slip through your fingers. …
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Trade Me buys Holiday Houses

Press Release – Trademe

New Zealand’s largest eCommerce business Trade Me today announced they have acquired an online holiday accommodation booking business for an undisclosed sum. “Holiday Houses has a great brand, a strong following and the widest selection …
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Ensuring the future health of the finance sector

Press Release – Reserve Bank

Everyone including depositors, the Reserve Bank, trustees and non-bank deposit takers has a role in ensuring the future health of the finance sector, Reserve Bank Head of Prudential Supervision, Toby Fiennes, said today. Speaking to a business audience, …
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Government direction on broadband welcomed

Press Release – Local Government NZ

“We are pleased the Government has recognised that ultra-fast broadband development cannot be left up to the commercial sector,” said Lawrence Yule, President of Local Government New Zealand. The Government is proposing to establish a Crown-owned company …
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Time For A Fiscal Diet – Not A Tax Deferral

Press Release – ACT New Zealand

“It is time for New Zealand to face facts and realise that the Government needs to go on a fiscal diet”, ACT New Zealand Finance Spokesman Sir Roger Douglas said today. “The bureaucracy has become engorged on an endless buffet of taxpayer dollars. …
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Contact boosts cash as most holders keep bonus

Article – Businesswire

March 31 – Contact Energy, the largest power company on the NZX 50 Index, said shareholders elected to keep 77% of bonus shares issued in the first half, leaving some NZ$49 million of cash to strengthen its balance sheet.
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PM to attend East Asia Summit and visit China

Press Release – New Zealand Government

Prime Minister John Key will attend the East Asia Summit in Thailand from 11-12 April and will then visit the People’s Republic of China. He will join leaders from the 10 ASEAN countries, China, the Republic of Korea, Japan, India, and Australia at …
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GMT Valuation Result

Press Release – Goodman NZ

Goodman (NZ) Limited, the Manager of GMT, advises a 10.2% reduction in the carrying value of the Trust’s property portfolio following the independent revaluation of its assets for the year ended 31 March 2009. The portfolio has a total value of $1.5 …
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Tax cuts offer nothing to most Maori families

Press Release – New Zealand Labour Party

National’s tax cut package will deliver nothing to the majority of Maori families struggling to make ends meet, says Maori Affairs spokesman Parekura Horomia. “Nearly three quarters, or 71 per cent, of taxpayers in the Maori electorates earn less than …
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