Donations pour in to help Tongan families, plus more NZ news

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Donations pour in to help Tongan families, plus more NZ news

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NZ news
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Highlights

  • Donations are being called for helping tsunami-hit Tongan families.
  • NZ business confidence takes a dip owing to rising inflation.
  • NZM completes the acquisition of BusinessDesk.

Let us take a peek at some of the attention-grabbing news from Kiwiland.

NZ news, NZM, house prices

Source: © 2022 Kalkine Media®

Donations pouring in to be sent to affected Tongan families

A voluntary relief committee is urging donations from various container companies and families across the country to send them to the affected Tongan families.

Related Read: How is Tonga coping with the underwater volcano?

Care packages containing groceries and non-perishable food items like flour, rice and sugar would be sent to the island nation, which was hit by the enormous underwater volcanic eruption and subsequent tsunami waves.

Launch of new technology for connecting rural communities

Connected Farms, an agri-tech company, has launched ZOLEO Satellite Communicator for smooth communication across rural communities across Kiwiland.

The technology provides two-way satellite communication connecting even the remotest regions where mobile coverage is erratic.

The said device would ensure zero delays in case of raising alarms in emergency situations.

NZ business confidence takes a dip

According to a recent survey, NZ business confidence dropped sharply in the last three months of 2021, owing to rising inflationary pressures and labour market conditions.

Interesting Read: Is NZ Economy Under Strain? Here's What ANZ Business Outlook Survey Says

It was revealed that about 34% of the firms anticipate business conditions to deteriorate in the future, as compared to 11% from the September-quarter survey, majorly on account of the pandemic, capacity constraints and cost pressures.

Banks reject home loans on account of frivolous spending

Reports reveal that NZ banks are refusing home loans for barmy shopping like buying Christmas presents, spending money on pets and petrol, etc., thereby impelling the government to examine whether the banks are making too much of new finance rules, which have been developed to shield vulnerable borrowers from predatory lenders.

Do Read: 5 NZX retail stocks to look at as card spending rises

It is noted that CCCFA, i.e., the Credit Contracts and Consumer Finance Act, had mandated the lenders to go through thorough checks, thereby ensuring that loans are affordable to their customers.                          

NZM completes the acquisition of BusinessDesk, a premier news website business

NZME Limited (NZX:NZM), the country's popular integrated media company, today confirmed the completion of the acquisition of BusinessDesk.

Must Read: NZME (NZX:NZM): Why did it buy BusinessDesk?

The said acquisition would accelerate the growth of both the companies and would strengthen the country’s business community by delivering unrivalled and in-depth coverage of business news.

House prices and sales volume decline, cites reports

A recent report suggests that national house prices and sales volumes slumped towards the end of 2021, owing to tougher lending rules being imposed.

As a result, a decline in the number of home buyers is seen, particularly among first-time buyers.

It is anticipated that the trend is likely to be seen this year as well, as the interest rates are anticipated to increase further, leading to a gradual slowdown in rising prices of houses.

Also Read: What does 2022 look like for global housing market?

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