New Zealand Activity Index (NZAC) has been launched today.The index is launched under the collaboration of the Reserve Bank of New Zealand, Treasury, and Statistics New Zealand. The idea behind the index is to provide timely insight to government, policymakers, economists and the general public about the impact of COVID-19 on NZ economy and for tracking the economic recovery at the right time. The NZAC shall briefly inform about job vacancies, traffic volumes, electricity generation, consumer spending, unemployment, economic outlook and manufacturing expectations.
Fuel prices for Kiwi motorists are set to go up tomorrow as increases on road user charges (RUC) for light vehicles and petrol excise duty are introduced overnight. According to the Ministry of Transport, the petrol excise duty will increase 3.5 cents to roughly 70 cents per litre while road user charges will increase by an "equivalent amount" of around 5 per cent. The cost of a road user charges distance licence for a light vehicle will be $76 per 1000 km, including GST.
Cirque du Soleil Entertainment Group filed for protection from creditors after the coronavirus pandemic forced it to close shows around the world, bringing one of the best-known brands in live performance to its knees. The Montreal-based company, which has about US $1.6 billion in debt and other liabilities, requested protection through the Companies' Creditors Arrangement Act in Canada on Monday afternoon. Cirque du Soleil laid off 4,679 employees - about 95 per cent of its workforce - on March 19 after shutting down 44 productions to comply with government orders around the world. It has only one active show right now, in China.
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