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Cocaine smugglers ‘targeting NZ’

A South American drug syndicate appears to be targeting New Zealand, as the amount of seized cocaine this year has increased more than 10-fold on two years ago, says the Customs Department. Customs has intercepted more than 10kg of cocaine this year, compared to just under 3kg in 2009 and 733 grams in 2008. “The high purity of the cocaine ... Read More »

NZ dollar eases against the Aussie

The New Zealand dollar eased against the Aussie after the International Monetary Fund lifted its 2018 economic growth forecast for Australia while lowering its global expectations. The kiwi traded at 90.95 Australian cents at 5pm in Wellington from 91.13 Australian cents at 8am and from 91.23 cents yesterday. It traded at 64.44 US cents from 64.39 cents yesterday, with US ... Read More »

Man who ‘used Irish backpackers to smuggle cocaine into New Zealand and Australia’ has €50k fortune seized, court hears

POLICE in New Zealand have frozen the bank account of a Dublin man with links to the Kinahan cartel. A court heard allegations that Fran Fennell had used a network of Irish backpackers to smuggle cocaine. Socialite Fennell, who gardai suspect operated as a cocaine dealer to the stars in Dublin, was named in New Zealand’s High Court this month ... Read More »

New Zealand determined to stamp out people smuggling

The global fight against people smuggling and human trafficking will be more effective when governments and businesses combine their powers, continuing the momentum of the Government Business Forum at the Bali Process, says Minister of Immigration Iain Lees-Galloway. Minister Lees-Galloway highlighted the need for government and business to work together at the Seventh Bali Process on People Smuggling, Trafficking in ... Read More »

New Zealand resident involved in people-smuggling to be deported

A Pakistani man involved in a people-smuggling operation in America, who gained residence in New Zealand, is the subject of a fraud investigation and is going to be deported. But he has been told he can make a fresh application for residence. In 2005, the stepfather-of-two was caught by a United States border patrol crossing from Canada, driving a van ... Read More »

NZ economy may not be as slow as business confidence suggests – for now

A boost in farm production during autumn could have seen strong economic growth in the June quarter, but any disappointment could tip the scales towards an interest rate cut. Statistics New Zealand will release figures on how quickly the New Zealand economy grew in the three months to June 30. Despite months of headlines about weak business confidence and the ... Read More »

New Zealand financial services company Booster buys Sileni’s Hawke’s Bay business

Hawke’s Bay-based Sileni Estates has found a new partner to steer it through “severe headwinds” in the Australian wine market. Sileni Estates has secured a purchaser for its Hawke’s Bay business to ensure the continued operation and supply of its wine, with New Zealand financial services company Booster, coming on board through its Booster Tahi Limited Partnership. The business will ... Read More »

Drug couriers caught smuggling $2m of ecstasy into New Zealand jailed

Two drug couriers caught trying to smuggle 5kg of ecstasy, with a rough street value of $2 million, into New Zealand hidden in a suitcase, have today been jailed for nearly six years. Israeli citizens Vadim Shkolnitski, a 36-year-old truck driver, and 33-year-old dive shop owner Vladimir Turovsky were caught with vast quantities of the powdered drug stashed inside a ... Read More »

Booking slip-up on Air New Zealand costs $1000

An Auckland man who made a booking for a colleague through Air New Zealand’s website is warning of the danger of getting the name wrong on reservations The man, a seasoned flyer who has done a lot of his own travel arrangements, said he was asked to make a booking for a colleague for a trip to New York. It ... Read More »

Invocare expands its NZ funeral business

Invocare, New Zealand’s largest funeral company, has been expanding its reach across the country, with three new funeral homes purchased in the past three months, adding an extra $12 million to the firm’s annual revenue. Sydney-based Invocare has made nine acquisitions across Australia and New Zealand so far this calendar year, it said in a statement to the ASX yesterday. ... Read More »

Bar high for NZ rate cut – economists

Economists agree the risk of a New Zealand rate cut is real but most don’t actually expect it to happen. The central bank kept the official cash rate at a record low 1.75 percent last Thursday and pushed out the timing of the first rate hike. Governor Adrian Orr reiterated that “the direction of our next OCR move could be ... Read More »

New Zealand determined to stamp out people smuggling

The global fight against people smuggling and human trafficking will be more effective when governments and businesses combine their powers, continuing the momentum of the Government Business Forum at the Bali Process, says Minister of Immigration Iain Lees-Galloway. Minister Lees-Galloway highlighted the need for government and business to work together at the Seventh Bali Process on People Smuggling, Trafficking in ... Read More »

Tanker smuggling migrants intercepted on way to NZ

Authorities said the tanker was carrying 131 Sri Lankans when it was intercepted on Tuesday. There were 98 men, 24 women, four boys and five girls. Three Indonesians and four Malaysians on a fishing boat used to transport the migrants to the vessel were also arrested. Malaysia’s national police chief Mohamad Fuzi Harun said the large-scale and cunning human smuggling ... Read More »

NZ business confidence hits 10-year-low in ANZ survey

Pessimism among New Zealand businesses has reached its worst point in a decade, according to a bank survey, continuing a trend emerging since the Labour-led Government took power. ANZ’s latest survey today showed a net 45 per cent of respondents in July expected the country’s economy to worsen in the year ahead, compared to 39 per cent last month. ANZ ... Read More »

Drug couriers caught smuggling $2m of ecstasy into New Zealand jailed

Two drug couriers caught trying to smuggle 5kg of ecstasy, with a rough street value of $2 million, into New Zealand hidden in a suitcase, have today been jailed for nearly six years. Israeli citizens Vadim Shkolnitski, a 36-year-old truck driver, and 33-year-old dive shop owner Vladimir Turovsky were caught with vast quantities of the powdered drug stashed inside a ... Read More »

Drug couriers caught smuggling $2m of ecstasy into New Zealand jailed

Two drug couriers caught trying to smuggle 5kg of ecstasy, with a rough street value of $2 million, into New Zealand hidden in a suitcase, have been jailed for nearly six years. Israeli citizens Vadim Shkolnitski, a 36-year-old truck driver, and 33-year-old dive shop owner Vladimir Turovsky were caught with vast quantities of the powdered drug stashed inside a Samsonite ... Read More »

Microsoft announces 2018 New Zealand Partner Awards winners

The Microsoft New Zealand Partner Awards recognise innovative partners who are demonstrating inventive use of digital technology, with the awards open to all Microsoft partners big and small. The streamlined ceremony saw the awards pivot to a greater focus on customers. This year’s winners include Lexel Systems for their innovative approach to My Food Bag in the Modern Workplace category. ... Read More »

Mark Lister: Is it time to panic about the sharemarket?

Interest rates in the US are a major focal point at the moment. They’re going up because the US economy is strong, but if they rise too much they could derail that growth story. The American equivalent of the OCR is higher than ours for the first time since March 2000, while the US 10-year Treasury yield is oscillating around ... Read More »

Baby-faced crypto billionaire mulls next move

With his baby face, eyeglasses and go-to outfit of T-shirt, jeans and sneakers, Jihan Wu looks more like a geeky teenager than a self-made billionaire. But thanks to an early foray into cryptocurrencies, the soft-spoken 32-year-old is sitting on what may be one of the industry’s largest fortunes. Wu runs Bitmain Technologies, the world’s dominant producer of cryptocurrency mining chips. ... Read More »

Wendy’s staff plan protest outside Auckland store after Employment Court injunction

Wendy’s workers will be gathering outside on the company’s Auckland stores this evening to protest issues around annual leave, lieu days, and a controversial training programme. This despite the fast food joint getting an injunction to stop picketers trespassing on company land. Unite national director Mike Treen said negotiations with the fast food company had broken down after a year ... Read More »