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Economy
NZ railways to get NZ$1.3-billion investment in next 3 years
July 09, 2021 10:35 AM AEST| By RomaSummary Three-year rail investment program pledges NZ$1.3-billion investment. KiwiRail can begin a new era of consistency and success. Responsible for the GDP of the country, this is a much-needed support for KiwiRail. Railways in New Zea.....
More Kiwis show confidence in financial markets, prefer shares to term deposits
July 07, 2021 04:59 PM AEST| By ManikaSummary Confidence in financial markets has risen in the last one year. Investors shifting to shares from term deposits. Investors taking more to online platforms in a DIY mode. Confidence in financial markets has continued to rise in the.....
Strong biz confidence pulls NZ interest hike expectations to Nov; NZD rises
July 06, 2021 06:36 PM AEST| By ManikaNew Zealand's business confidence has shown a sharp rise in Q2, suggesting a strong economic recovery giving rise to sooner-than-expected rate hike. The New Zealand Institute of Economic Research (NZIER) in its quarterly survey of business opinion.....
Is cost of ageing population the main reason for soaring government debt in NZ?
July 06, 2021 10:43 AM AEST| By ManikaSummary Rising debt in New Zealand a cause of worry for Treasury. Says, debt is driven mainly by ageing population and cost of healthcare. Suggests super age should increase from 65 years to 67 years. The New Zealand government is worried.....
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US economy adds 850,000 jobs in June as wages rise
July 03, 2021 03:30 AM AEST| By Team Kalkine MediaSummary It was the biggest gain since August 2020, exceeding economists' estimates but in line with their expectation of a continued improvement in the labor market. The US economy had added 583,000 and 269,000 new jobs in May and April, respec.....
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Will NZ households pay extra for consumer items amid growing inflationary burden?
July 02, 2021 06:36 PM AEST| By SonalSummary ANZ-Roy Morgan Consumer Confidence Index remained steady at 114 in June. The index measures consumer confidence in NZ households every month and the subsequent impact on buying patterns. Inflationary pressures are building up. ANZ.....
New dwellings consent reaches a new annual record in May 2021
July 01, 2021 03:08 PM AEST| By SonalA record number of new homes were consented for the year ended May 2021. Stats NZ released latest building consent figures on Thursday, revealing that the actual number of new dwellings consented stood at 43,466 for the year ended May 2021, the high...
The housing crisis in New Zealand takes a new turn
July 01, 2021 12:25 PM AEST| By RomaSummary Further bad news for new homeowners, buyable homes on a decline. Five Major regions witness a record decline in number of properties. Consumer trend shifting from existing homes, towards construction of new ones. The housing issue.....
Opinion: How Does The Reserve Bank Plan To Balance High Inflation and Low Interest Rates?
June 30, 2021 04:51 PM AEST| By ManikaRising house prices due to a low-interest regime, good economic growth, employment, and GDP numbers better than other countries are all posing a challenge for the dovish Reserve Bank of New Zealand. Should the Reserve Bank continue its expansionary...
New Zealand stares at higher inflation, ANZ calls for increase in OCR this year
June 30, 2021 04:11 PM AEST| By ManikaNew Zealand businesses are seeing a rise in inflation beyond the Reserve Bank of New Zealand’s (RBNZ) target of 2%. ANZ Business Outlook Survey revealed that Companies that were surveyed continued to feel tremendous cost pressure. The Survey.....
RBNZ’s Statement of Intent says vulnerabilities remain despite recovery
June 29, 2021 06:46 PM AEST| By SonalSummary RBNZ provided Statement of Intent 2021-2024 on June 29. Economic activity in NZ returned to pre-COVID-19 levels. However, there are still vulnerabilities with more monetary and fiscal support needed for the recovery process. RBNZ .....
Can rising inflation derail recovering global economy?
June 29, 2021 11:21 AM AEST| By RomaSummary Global economic recovery could be marred by logistical instabilities in East Asia. Big Money countries like the US and G7 members play a strong role in recovery. Is a global inflation crisis on the way? What should be done to avert it?.....
Is New Zealand’s economy on the right track? Should Australia follow in NZ footsteps?
June 28, 2021 07:30 PM AEST| By SonalNew Zealand has now entered a select group of nations whose economies have grown in size since the start of the coronavirus pandemic. The country witnessed a widely unexpected broad-based growth of 1.6% in the March quarter of 2021, in spite of Auckl...
What is the KiwiSaver scheme? How does it help you in saving for retirement?
June 28, 2021 11:42 AM AEST| By SonalKiwiSaver is a government-sponsored voluntary savings program, designed to assist Kiwis in saving for retirement. An individual has an option to give 3%, 4%, 6%, 8%, or 10% of their gross earnings or salary (before tax) to KiwiSaver a...
Microsoft roped in as Principal Partner for COP26 Glasgow Summit
June 26, 2021 01:29 AM AEST| By AbhijeetSummary Microsoft has been roped in as a Principal Partner for the COP26 The summit has eight other domestic corporations and one Japanese MNC All these businesses are playing a vital role in climate change action Microsoft Corporation (N.....
Huge import increases in May give hope to ideal NZ trade recovery
June 25, 2021 02:16 PM AEST| By RomaSummary Things looking up for the NZ trade, imports witness an encouraging rise. May 2021 has been the most productive year for car imports. Dairy exports large contributor to good results. The month of May has shown improvement in import.....
How does New Zealand Stock Exchange operate? What are the good stocks listed on it?
June 24, 2021 10:05 AM AEST| By RomaLike most well-functioning economies, New Zealand has a full-fledged stock exchange. The New Zealand stock exchange, established in the 1870s gold rush, turning into a company that was then shareholder controlled. The exchange essential consi...
Women entrepreneurship initiative in Aotearoa to receive NZ$2.5m
June 24, 2021 09:10 AM AEST| By RomaSummary Initiatives to help woman entrepreneurs marks the positive paradigm shift Women in entrepreneurship will make for a stronger tomorrow for the world Small business owners need to be supported in order to help deal with COVID-related los.....
US home prices surged 23% in May as supplies fell
June 23, 2021 06:57 AM AEST| By Team Kalkine MediaThe average US home prices rose by a record 23.6% to US$350,300 in May from a year earlier as the number of available homes for sale declined amid a robust surge in demand. The demand spiked as mortgages rates fell to record levels during the peri.....
Would NZ$1-billion fund aid in solving New Zealand’s housing crisis?
June 23, 2021 06:00 AM AEST| By Neha SimpyNew Zealand has been struggling with housing crisis for quite some time. To combat the housing crunch and increase its affordability, the Government declared a NZ$3.8-billion Housing Acceleration Fund in March this year. Source: Copyright ©.....
