The most happening developments in NZ market today

Highlights 

  • New Zealand’s COVID-19 cases continue to rise, with the Government making it mandatory for teachers and most of the healthcare workers to receive double vaccine doses.
  • South Island struck by a 5.3 earthquake, light shaking reported.
  • Christmas celebrations in Auckland Park to be cancelled, the venue shifts to Christchurch.

Let us take a quick snapshot of the latest happenings in the Kiwi nation.

Covid-19, NZ economy, Foodstuffs, travel, and tourism sector

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COVID-19 report

NZ has reported 43 new COVID-19 cases from the community, out of which 40 are from Auckland, while three belongs to Waikato.

In order to prevent the spread of the virus, the NZ Government has announced compulsory vaccination for teachers and healthcare workers, with a ‘no jab, no job’ policy. 

Healthcare workers including doctors, nurses, etc., must be doubly jabbed by 1 December, while the teachers should receive the two vaccine doses by 1 January.

Interesting Read: How is New Zealand gearing up for vaccine passports by December this year?

South Island hit by a quake

An earthquake of 5.3 magnitude hit South Island before 3 pm on 12 October, with tremors being felt even near Nelson and Wellington.

Having a depth of 150 km, light shaking was recorded, with 17,000 people reported having felt the quake.

Do Read: What causes an earthquake? All you should know

Auckland’s Christmas celebrations in the park stand cancelled

In the wake of the present lockdown situation, Christmas celebrations in Auckland Park have been cancelled.

The show will now be held in Christchurch in late November, a TV broadcast of which will be aired in December.

Can’t Miss Reading: Is it too early to panic for Christmas?

Foodstuffs to remove frozen products of Sealord, the NZ seafood brand

Foodstuffs erases some of the biggest NZ seafood brands of the company Sealord to make room for overseas frozen products like Alaskan pollock.

The move would reduce Sealord’s presence from 80% to just 20% in local markets.

Interesting Read: Foodstuffs To Divest Its 9% Interest In The Warehouse Group

Scholarships announced by The Advice Hub

The Advice Hub, a local financial advisory firm, has announced a paid scholarship programme for those facing financial struggles amid the pandemic, particularly women, Pasifika, and Māori communities.

Related Read: NZ provides instant help to Maori and iwi groups hit by the pandemic

It will fund the course fees of 100 scholarships, thereby enabling the recipients to become licensed financial advisers.

Government subsidies help the tourism and travel sector stay afloat

Ever since the Delta outbreak, the NZ government has extended subsidies worth NZ$3.9 billion, to support its tourism and travel operators.

Related Read: Is there any respite from pandemic to 3 NZX travel and tourism stocks?

It is noted that applications for the third round of resurgence payment opened last week, helping businesses with meeting their fixed costs, like rent, etc.

David Parker, Minister of Revenue, stated that the said scheme would be available until the entire country shifts to alert level 1 for a month.

The assisted dying act to come into force next month

A three-member committee has been formulated to oversee the implementation of the assisted dying act, which would be made legal soon.

The said law will come into effect on 7 November.

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