Southland's February Flood damages' Worth Increased to NZD 29.6 million | NZX Market Update

The insurance customers have got a total of NZD 29.6 million for damages related to the Southland's floods in February. It also confirms the extent of destruction of the natural disaster. The cost to support customers increased significantly from the initial price of NZD 19.7 million in early May. Insurance Council of New Zealand Chief Executive, Tim Grafton said that the situation tells the significance of having insurance during such an unexpected crisis, especially when climate-changing events are likely to increase in the future.

As per the Stats NZ report, in June 2020 quarter, underutilisation rate increased by 12.0 per cent, and the seasonally adjusted unemployment rate dropped to 4.0 per cent, declining from 4.2 per cent for the previous quarter. Hours worked reduced by a record 10.3 per cent. Number of people not in the labour force increased 37,000. Employed people's number fell 11,000. At the beginning of the quarter, New Zealand was in lockdown, and the impact is evident in the results. The wage subsidy scheme was there since 17 March 2020. The fall in the unemployment rate also reflects that the government's efforts to safeguard businesses from the impact of lockdown is working.

TruScreen Limited (NZX:TRU) has appointed renowned medical device distributor, Aspironix as its exclusive distributor for Slovakia, Czech Republic, and Poland. The territories of Slovakia, Czech Republic, and Poland, have a total cervical cancer addressable testing population of more than 17.9 million women, offering a substantial market opportunity for the company.

#Floods #NewZealand #NZX #Kalkine



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