Archive for May, 2011

MAF announces probe into Heitiki infant formula

Article – BusinessDesk

May 31 (BusinessDesk) – The Ministry of Agriculture and Forestry has commenced an investigation into Kaiora New Zealand International, a company alleged to be selling and exporting Heitiki infant formula. Read more »

Sheep and Beef on-Farm Inflation Up

Press Release – Beef And Lamb NZ

NZ sheep and beef farm businesses faced a 4.1% increase in input prices for the year ended March 2011. This was a stark contrast to the year before when farm input prices decreased 2.9%, according to Beef + Lamb NZ’s Economic Service report. Read more »

Serepisos troubles hit HQ

Article – BusinessDesk

May 31 (BusinessDesk) – Lenders on one of Terry Serepisos’s prime assets, including his own head office, are moving to acquire the waterfront Todd Building on Wellington’s central city Hunter Street. Read more »

Dunne: FBT Rate for Low-Interest Loans Falls

Press Release – New Zealand Government

The prescribed rate of interest used to calculate fringe benefit tax on low-interest, employment-related loans is 5.90%, down from the previous rate of 6.24%, Revenue Minister Peter Dunne announced today. Read more »

Committee No Substitute for Jobs

Press Release – New Zealand Labour Party

The Government’s decision to set up a committee of ministers to examine welfare reform is an attempt to shift the blame for the government’s inability to create jobs on to beneficiaries, says Labour’s Employment spokesperson Jacinda Ardern. Read more »

CBD Rail Review Provides Greater Transparency to Auckland

Press Release – New Zealand National Party

The review of the CBD Rail Link is positive in that it provides greater transparency regarding the potential benefits and costs of the project. We need to know what benefits the loop will bring before committing tax and ratepayer money. Read more »

Phosphate and fuel costs push sheep and beef farm inflation

Article – BusinessDesk

May 31 (BusinessDesk)- A strong New Zealand dollar is the only thing to have stood between steeply rising fertiliser and fuel costs in the last year, with on-farm inflation up 4.1% in the year to March. Read more »

Labour Party’s Farm Emissions Just So Much Hot Air

Press Release – New Zealand Climate Science Coalition

“In proposing to fund higher R & D credits from early introduction of ETS charges on New Zealand farmers, the Labour Party shows a tendency to emit its own hot air,” says Terry Dunleavy, secretary of the New Zealand Climate Science Coalition. “Not … Read more »

Dorchester rescue ups net profit, operating losses continue

Article – BusinessDesk

May 31 (BusinessDesk) – Dorchester Pacific reported a $14.1 million annual net profit but that was entirely due to the $22.4 million benefit from last year’s debt-for-equity swap rescue. Read more »

Talented Futures in New Zealand Textiles

Press Release – Apparel and Textiles ITO

A Hawkes Bay textiles production manager is the delighted recipient of the Talented Future Scholarship. John Williams of Cavalier Bremworth in Napier has received the scholarship to enable him to undertake an intensive management training course at … Read more »

Strong business performance reaps rewards

Press Release – Fronde Systems

Leading technology services business, Fronde Systems Group Ltd, has announced double digit revenue growth and an improved operating surplus. “This is a substantial endorsement of our strategy” says Board Chairman, Wayne Norrie. Read more »

Daily deals sites best marketing for service SMEs

Press Release – LivingSocial

Survey figures released this week by LivingSocial ( – the online source for handpicked experiences at a great value – suggest the impact this new marketing channel will have in the New Zealand SME market. Read more »

Argosy Property Trust announces $26.3m profit

Press Release – Argosy Finance

Argosy Property Trust (the Trust) today announced the annual results for the year to 31 March Read more »

CBD Rail Link advocates have failed to sell project

Press Release – Cameron Brewer

“Despite the CBD Rail Link being the most important project for the leadership at Auckland Council, it has so far failed to successfully advocate the project to the Government,” says Auckland Councillor Cameron Brewer. Read more »

Viaduct throws lifeline to disconnected merchants

Press Release – Viaduct eftpos

D-day is here for those merchants who have not met the June 1 deadline to upgrade their eftpos terminals to more secure chip card technology. Read more »

Preferred contractor selected for Rotowaro Opencast Mine

Press Release – Solid Energy NZ

Solid Energy has selected Stevenson Mining Ltd as the preferred contractor to take over from HWE Mining Ltd following expiry of the current contract at its Rotowaro Opencast Mine in the Waikato later this year. This follows full evaluation of both … Read more »

Cathay Pacific Launches Special Fares to UK/Europe

Press Release – Cathay Pacific

Cathay Pacific has released attractive new fares to the United Kingdom and Europe, which start from $2104, plus taxes. Read more »

Horizon Energy earnings flat, flags cost of regulated prices

Article – BusinessDesk

May 30 (BusinessDesk) – Horizon Energy Distribution Ltd., the electricity distribution company, has posted a net profit on par with lasts year’s results, but warned that future profitability could threatened by price regulation changes. Read more »

Telecom credit rating put on watch by Fitch over demerger

Article – BusinessDesk

May 30 (BusinessDesk) – Telecom Corp., which last week won the lion’s share of the government’s $1.35 billion fund to roll-out a national broadband network, has had its credit rating put on rating watch negative by Fitch Ratings over the prospect … Read more »

Forest owners want to talk to councils about roads

Press Release – NZ Forest Owners’ Association

Forest owners have offered to take part in a local body workshop being held next month to discuss the impact of logging trucks on roads in the Manawatu, Wanganui and Taranaki districts. Read more »

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