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China, New Zealand Customs to enhance trade facilitation

CANBERRA: Customs Minister Nicky Wagner says New Zealand and China Customs authorities are going to establish a system to enhance trade assurance and facilitation under the New Zealand China Free Trade Agreement. Ms Wagner and NZ Customs officials met with the Vice Minister of the General Administration of China Customs Mr Sun Yibiao and his delegation in Auckland today to ... Read More »

New Zealand ports facing loss due to slow down of shipment at ports

WELLINGTON: From potatoes and vegetables to apples and hay, growers in many parts of the West Coast are going in loss due to slow down at ports. Product isn’t getting shipped and growers face decisions on how much to plant for 2015. Stan Boshart was headed for a meeting with a rye grass grower when he received a text from ... Read More »

New Zealand construction, infrastructure giant Downer shows $NZ3.78b revenue, down by 8.8%

WELLINGTON:Construction  and infrastructure giant Downer EDI has reported a revenue and profit dip for its half-year trading. Downer, for the half-year ended December, booked revenue of $A3.6 billion ($NZ3.78 billion), down 8.8% or $A345.1 million on a year ago. Earnings before interest and tax (ebit) was down 11.5%, from $A160.1 million to $A141.7 million. After-tax profit for the group declined ... Read More »

Dredging plan at Wellington port to cost $20-40 million

WELLINGTON: A proposal to dredge Wellington Harbour to accommodate larger ships is being met with surprise. The project is expected to cost between $20-40 million. CentrePort currently handles about 100,000 containers a year compared with the nearly 970,000 by Ports of Auckland in the year ended June last year. Transport planning and economics consultant Richard Paling said the plan is ... Read More »

NZ Customs seizes 22kg meth, clutches two Taiwanese smugglers

TAIPEI: Kiwi Police and Customs have made New Zealand’s second-biggest methamphetamine haul, finding 22 kilograms of the drug hidden in cargo from Taiwan here the other day. Police said the drug, with an estimated street value of $22 million, was seized here the other day as part of an operation codenamed Georgie. Two Taiwanese nationals have been arrested and charged ... Read More »

New Zealand customs service completes first stage of automation process

WELLINGTON: New Zealand Customs Service has completed the first stage of a project to automate non-production and production environments. The project enables the team working on the Joint Border Management System to automate the current manual configuration process. Read More »

New Zealand exports rise 1% to $12 billion in Dec

WELLINGTON: A jump in beef export prices and a lift in log sales overseas helped total exports rise almost 1 per cent to $12 billion in the December quarter. The strong meat and log sales helped offset an ongoing dive in dairy exports as global prices slumped last year. Statistics NZ said the seasonally adjusted value of goods exported rose ... Read More »

175th anniversary: NZ Customs handles 11.2m travellers, collects $11.847b, says Ms Wagner

WELLINGTON: Customs Minister Nicky Wagner greeted the New Zealand Customs Service on the eve of its 175th anniversary of service protecting New Zealand’s borders. Customs was established on 28 January 1840 in Kororareka, Bay of Islands, and is New Zealand’s first fully-fledged government department. “Customs, despite being the oldest, has also become one of the most tech-savvy government departments,” Ms ... Read More »

New Zealand lamb wool prices rise on increased China demand

WELLINGTON: New Zealand lamb wool prices have risen to a three-year high on increased demand for the fibre from clothing manufacturers in China. The price for lambs wool jumped 10 cents to $6.10 per kilogram at last week’s North Island auction, matching a price last seen in January 2012, according to AgriHQ. The price for 35-micron clean wool, a benchmark ... Read More »

New Zealand dollar drops at lowest since November 2011 against greenback

WELLINGTON: The New Zealand dollar touched US74.25 cents, its lowest level since November 2011 when the NZ dollar hit US73.71 cents, it was well down from its New York close on US74.50 cents, and it was hovering at US74.35 cents. Catherine Beard of Export NZ said the drop would not just benefit those exporting to the US but anyone trading ... Read More »

New Zealand, Australia banking group plans to issue $750 million of capital notes

SYDNEY: Australia and New Zealand banking group has announced plans to issue $750 million of capital notes in what is likely to be the first ASX listed hybrid of 2015. But the bank is being forced to pay up to 1 per cent more to issue this form of capital following a blow-out in margins that followed an enormous $3 ... Read More »

NZ, Australian dollars drift near multi-month highs vs euro

WELLINGTON: The Australian and New Zealand dollars drifted near multi-month highs versus the euro on Monday, with financiers awaiting key monetary data out of China and a most important policy declaration in Europe later this week. Trading is expected to be subdued with US markets shut for a holiday. The beleaguered euro held at NZ$1.4831, just above a lifetime low ... Read More »

New Zealand’s Kea Petroleum to shut production at Puka Field site in Taranaki

WELLINGTON: The price of oil has dropped about 60 per cent since June and the oil and gas industry around the world and in this country was feeling the pinch. Kea Petroleum announced it would shut down production at its Puka Field site in Taranaki as a result of plunging oil prices. In a written statement, the company said it ... Read More »

New Zealand airlines mulling tax for parents flying with children on their laps

WELLINGTON: Airlines are mulling over charging toddler tax for parents flying with children on their laps. Air travel with under-two year kids can be fraught at the best of times. But most airlines allow non-seated passengers to fly without charge, or ask for a nominal fee, which is one less thing for families to worry about. A new proposal, by ... Read More »

New Zealand food prices rise 0.3% in 2014

WELLINGTON: New Zealand registered higher prices for fruit, yoghurt and chicken which surged by 0.3 percent in December. Chicken prices rose 2.6 percent and soared one percent higher than their previous peak in December 2013. Fruit, including kiwifruit, apples and oranges, cost 4.2 percent more while vegetable prices dropped almost one percent. Although yoghurt prices jumped 14 percent, the price of ... Read More »

NZ residential house prices rise 4.9%, up NZ$22,652 in 2014

WELLINGTON: New Zealand residential house prices showed an increase for the whole year of 2014. It was a mixed year for the property market with uncertainty associated with the loan-to-value restrictions, interest rate hikes and an election. The QV residential house prices rose 4.9 percent or NZ$22,652 during 2014 from NZ$466,022 in December 2013 to NZ$488,674 in December 2014. In ... Read More »

NZ navy attempts to board two illegal fishing boats in Southern Ocean

WELLINGTON:  The New Zealand government was granted permission to board the Kunlun and the Songhua by Equatorial Guinea under whose flag they sail but the captains of both refused to cooperate. The crew of HMNZS Wellington had observed the two ships, as well as the Yonding, fishing illegally for Patagonian toothfish in the Ross Sea near Antarctica. All three, which ... Read More »

Australian dollar vs New Zealand dollar records modest gains

CANBERRA: The Australian Dollar vs New Zealand Dollar recorded modest gains ahead of New Zealand Card Spending and House Prices figures. The Australian Dollar shares have an extremely close relationship with Australia’s largest export, iron ore.  Iron ore fell by around 50% in 2014 and inspired notable losses for the ‘Aussie’ exchange rate. However, last week saw Australia’s largest trading partner, ... Read More »

New Zealand dollar rises against greenback

WELLINGTON: New Zealand dollar rose as lower US wages caused investors to question how quickly the Federal Reserve will hike interest rates when it starts tightening monetary policy this year. The kiwi increased to 78.54 US cents in Wellington from 78.38 cents and 78.35 cents in New York. The trade weighted index declined to 79.77 from 79.98 last week. Sam ... Read More »

Wanted South Korean fishing boat turns up at Uruguay port

SOUTH KOREA: The wanted South Korean fishing boat that was been searched for by New Zealand, having cloaked up nearly half a million dollars in fines has been found in South America. Environmental group Greenpeace says Oyang 75, accused of pirate fishing internationally, is now at a dock in Montevideo, the River Plate capital of Uruguay. New Zealand courts have already ordered ... Read More »