Key developments in New Zealand market today

Highlights

  • New traffic light settings for NZ regions announced by the national government as the country prepares to step into the COVID-19 Protection Framework on Friday.
  • The NZ government imposes a travel ban on nine South African nations as a new variant spread in these countries.
  • New Plymouth’s Primo announced Taranaki’s top business for 2021.

With the start of a new week, let us skim through the latest happenings around the Kiwi nation.

NZ news, COVID-19, APL, NZR

Source: Copyright © 2021 Kalkine Media

Traffic light settings of NZ regions announced

The NZ government has announced new traffic light settings lately. Regions like Auckland, Northland, Whakatane, etc., will move into red, while parts of North Island and all of the South Island to go into the orange zone. 

These would be reviewed in two weeks and again on 17 January.

Transition payment being offered to businesses

The Kiwi Government will provide transition payment to those businesses which will be impacted as the country move to a new traffic light framework, particularly those pertaining to Auckland, Waikato and Northland regions.

The said payment would be NZ$4000 per business.

Travel ban on 9 South African nations

After the detection of a potentially dangerous new COVID-19 variant, Omnicron, in South Africa, the Jacinda Ardern-led government has announced a travel ban from the nine southern African countries, namely South Africa, Zimbabwe, Mozambique, Seychelles, Namibia, and others.

A Quick Read: Where to travel as COVID-19 continues

It is noted that only Kiwi citizens from these countries are allowed to travel to New Zealand, with mandatory 14-day isolation in MIQ facilities.

APL suffers reduced profits in its half-year performance

Asset Plus Limited (NZX:APL), which manages a huge property portfolio comprising commercial and industrial buildings across NZ cities, has published its half-yearly results ended 30 September 2021.

Must Read: Do 5 NZX penny stocks have the potential to turn into multibaggers?

Its profit after tax dropped to NZ$2.52 million from NZ$11.53 million of the preceding period, majorly on account of its businesses being significantly impacted by the pandemic.

In spite of these, APL showed resilience and managed to declare a quarterly dividend of 0.45 cps, payable on 14 December.

NZR discloses its plans to go for equity raising

The New Zealand Refining Company Limited (NZX:NZR) revealed its plans to raise around NZ$43.5 million to support its new venture as it commences its terminal operations from next year onwards.

It will be utilised for private storage services.

Related Read: 4 Oil and Gas Stocks Garnering Investors’ Attention- ZEL, NZO, NZR, VCT

Taranaki’s top business award goes to Primo

New Plymouth-based Primo, offering broadband services, has been announced 2021 Taranaki’s top business.

Interesting Read: New Zealand nominees for International Business Award 2021 announced

The Company topped in three categories, namely the Technology, Business Continuity and Best Medium Business.

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