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Tag Archives: New Zealand

Customs arrangement with Hong Kong to benefit New Zealand trade

WELLINGTON: The implementation of a Mutual Recognition Arrangement (MRA) between New Zealand and China’s Hong Kong Special Administrative Region (SAR) will bring significant benefits to New Zealand exporters, a New Zealand customs official said. The MRA between Hong Kong and New Zealand that was signed in June 2018 came into effect on Friday, following a ceremonial announcement in Hong Kong. ... Read More »

Alibaba Group expands presence in Australia, New Zealand

CANBERRA: Chinese online retailer Alibaba Group opened its Australian and New Zealand headquarters in Melbourne on Saturday, its first expansion in the region as it seeks to tap growing global demand for products from the two countries. The group’s billionaire founder Jack Ma, who spent time in Australia as a young man, said he hoped the e-commerce giant would help ... Read More »

New Zealand, china ease customs procedures

WELLINGTON: Exporters in China and New Zealand will see eased customs requirements in the near future. New Zealand will be the first country to have a Joint Electronic Verification (JEV) with China for imports and exports, according to information in a press release issued by Customs Minister Nicky Wagner on April 19th. The JEV will be an electronic data system ... Read More »

New Zealand, Vietnam trade increases 120 % in 2009-2014

HANOI: Vietnam’s economic star is on the rise and New Zealand wants to be there front and centre to cash in on it. Prime Minister John Key is off to Vietnam’s capital Hanoi on Saturday (local time), leading a trade mission aimed at growing the relationship between the two countries. In the five years between 2009 and 2014, two-way trade ... Read More »

New Zealand, EU begin free trade discussions

BRUSSELS: The EU has agreed to start talks on a free trade agreement with New Zealand. The agreement to launch talks was announced in Brussels after Prime Minister John Key met with European Commission President Jean-Claude Juncker and European Council President Donald Tusk. In a joint statement they said the talks would focus on the next steps needed to formally ... Read More »

New Zealand turns to current account deficit in Q2

WELLINGTON: New Zealand has turned to a current-account deficit in the second quarter with the country earning less from the export of travel services, such as tourist spending. THE current-account deficit was $NZ1.2 billion ($A1.07 billion) in the three months ended June 30, from a revised surplus of $NZ821 million a year earlier, Statistics New Zealand said on Wednesday. The ... Read More »

New Zealand cuts extra 0.25% points off interest rates

WELLINGTON: New Zealand snipped a further 0.25 percentage points off interest rates on Thursday, the third reduction this year, and with the central bank suggesting further easing was likely in coming months. The cut in the official cash rate (OCR) to 2.75 percent was widely expected following similar reductions in June and July. “Domestically, the economy is adjusting to the sharp ... Read More »

New Zealand persimmon imports into China

WELLINGTON: New Zealand’s Ministry for Primary Industries and China’s General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) signed an import protocol on 25 June, allowing New Zealand persimmon imports into China. The import protocols require in-orchard pest control, cold treatment and pest-proofing of packaging, explained Ian Turk, Manager of industry body NZ Persimmon Industry Council. “The new protocols introduce ... Read More »

New Zealand persimmon imports into China

WELLINGTON: New Zealand’s Ministry for Primary Industries and China’s General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) signed an import protocol on 25 June, allowing New Zealand persimmon imports into China. The import protocols require in-orchard pest control, cold treatment and pest-proofing of packaging, explained Ian Turk, Manager of industry body NZ Persimmon Industry Council. “The new protocols introduce ... Read More »

Exports of major dairy products decrease from EU, New Zealand

WELLINGTON: Year-on-year exports of major dairy products are down from the European Union (EU) and New Zealand (NZ) when compared to the previous year. Exports from EU between January and May of 2015 were reported to be 1% lower than last year. Whole milk powder (WMP) exports were down by 11% to 161,318t, while the total amount of cheese exported ... Read More »

Exports of major dairy products decrease from EU, New Zealand

WELLINGTON: Year-on-year exports of major dairy products are down from the European Union (EU) and New Zealand (NZ) when compared to the previous year. Exports from EU between January and May of 2015 were reported to be 1% lower than last year. Whole milk powder (WMP) exports were down by 11% to 161,318t, while the total amount of cheese exported ... Read More »

New Zealand export log prices hold steady in July outlook for China’s economy

WELLINGTON: New Zealand export log prices were unchanged this month amid uncertainty about the outlook for China’s economy. The average wharf gate price for New Zealand A-grade logs held at $86 a tonne in July from June, according to AgriHQ’s monthly survey of exporters, forest owners and sawmillers. The AgriHQ Log Price Indicator, which measures average log prices weighted by ... Read More »

New Zealand wool prices ease in first sale of 2015/16 season as demand weaken

WELLINGTON: New Zealand wool prices eased in the first sale of the new 2015/16 season as demand weakened. The price for clean 35-micron wool, a benchmark for crossbred wool used for carpets and accounting for the majority of New Zealand’s production, declined to $5.75 per kilogram at yesterday’s North Island auction, from $5.80/kg at the last auction of the 2014/15 ... Read More »

New Zealand BAT 3.9% decline in annual profit hike in excise tax

WELLINGTON: British American Tobacco Holdings (New Zealand), the nation’s largest cigarette company, reported a 3.9 percent decline in annual profit as it absorbed the government’s latest hike in excise tax. The local arm of British American Tobacco, whose brands include Pall Mall, Benson & Hedges and Dunhill, reported net profit of $126.5 million in calendar 2014, down from $131.6 million ... Read More »

New Zealand General Electric’s finance arm sales down recorded 10% fall in profit 2014

WELLINGTON: GE Finance and Insurance, part of General Electric’s finance arm which is selling down most of its assets worldwide, recorded a 10% fall in profit last year, reflecting a decline in finance income and rising costs. Most of the businesses of GE Capital, the finance unit of New York Stock Exchange-listed GE, are being sold as part of a ... Read More »

New Zealand annual migration rises to fresh record in May

WELLINGTON: New Zealand annual migration rose to a fresh record in May as fewer locals left for Australia, while more returned from across the Tasman, and more students from India and China arrived. The country reported a net gain of 57,800 migrants in the year through May, ahead of a 36,400 gain in the year earlier period, and the 10th ... Read More »

New Zealand annual migration rise to fresh record in May

WELLINGTON: New Zealand annual migration rose to a fresh record in May as fewer locals left for Australia, while more returned from across the Tasman, and more students from India and China arrived. The country reported a net gain of 57,800 migrants in the year through May, ahead of a 36,400 gain in the year earlier period, and the 10th ... Read More »

New Zealand annual migration rise to fresh record in May

WELLINGTON: New Zealand annual migration rose to a fresh record in May as fewer locals left for Australia, while more returned from across the Tasman, and more students from India and China arrived. The country reported a net gain of 57,800 migrants in the year through May, ahead of a 36,400 gain in the year earlier period, and the 10th ... Read More »

New Zealand share market bounces back

WELLINGTON: New Zealand shares have rebounded, tracking broad gains on Wall Street, after a week of declines. THE NZX 50 Index advanced 32.056 points, or 0.6 per cent, to 5781.761 on Friday. Within the index, 26 stocks rose, 19 fell and five were unchanged. Turnover was high at $277 million, including $40m of Meridian Energy and $31m of Trade Me. ... Read More »

New Zealand commercial property in 2014 substantially outshone the global market

WELLINGTON: The performance of New Zealand commercial property in 2014 substantially outshone the global market, according to figures released by Morgan Stanley Capital International (MSCI), which measures the total returns of investment-grade real estate. Over the year, New Zealand commercial property returned 11.3% – versus a global average of 9.9%. New Zealand joins a small group of largely English speaking ... Read More »