New Zealand’s central bank, the Reserve Bank of New Zealand (RBNZ) has admitted that it had made an intervention in the foreign exchange markets in the previous month in order to lower the value of the currency.
While speaking in front of the Parliament's finance and expenditure select committee, Governor Graeme Wheeler said, “That intervention will not materially change the level of the exchange rate but could take potentially the tops off rallies. In terms of activity, there's been an intervention.”
The Reserve Bank of New Zealand has said that its proposed Open Bank Resolution (OBR) policy is a part of the contingency plans that would ensure the survival of the banks in the country in case of a banking industry collapse in the New Zealand economy.
The Real Estate Institute in New Zealand has said that the national house prices have reached their highest level ever.
The data released by the institute on Thursday shows that the median house price during the month of March touched $400,000, which is its highest level ever. The average house prices have risen 8 per cent or $30,000 to $400,000 compared to the same month of the previous year. The shortage of housing options has kept the prices high, mainly in areas including Auckland and Christchurch.
Auckland, April 11 : Indian shuttlers Ajay Jayaram and Arvind Bhat moved into the men's singles third round of the New Zealand Open Grand Prix here at the North Shore Events Centre Thursday.
However, it was the end of the road for fifth seed Anand Pawar, 14th seed Chetan Anand, fourth seed R. M. V. Gurusaidutt, and for Sarada Jasti in women's singles.
Christchurch, March 30 : New Zealand batsman Jesse Ryder has come out of an induced coma and is talking to family and friends but doesn't have any memory of the attack that put his life in severe danger.
Ryder was put in a state of induced coma after a bar brawl here threatens to end his cricketing career.
However by Friday he had given a "thumbs up" to his neurosurgeon after his sedation levels were lowered.
Christchurch, March 29 : New Zealand cricketer Jesse Ryder is now stable and gave a "thumbs up" to his neurosurgeon Friday after his sedation levels were lowered.
A bar brawl here has left Ryder in a state of induced coma and also threatens to end his cricketing career.
Ryder's manager Aaron Klee said the cricketer was doing fine and gave a thumbs-up to the doctors treating him. Klee said Ryder is now in stable condition, but was still on support system.
Auckland, March 28 : The cricketing world was Thursday abuzz with prayers and best wishes on Twitter for New Zealand batsman Jesse Ryder, who was assaulted outside a bar at Christchurch and is now in coma.
"Four men" attacked Ryder as he left Aikman's Bar in Merivale shortly after midnight (around 12.30 a. m. local) early Thursday after having "a few drinks" with Wellington Firebirds teammates, The New Zealand Herald reported.
The "brutal assault" has left Ryder in an induced coma with a fractured skull and multiple injuries.
According to the latest figures released, the total number tourist arrivals in New Zealand recorded an increase of 9 per cent during the month of February compared to the same month of the previous year.
Data released by Statistics New Zealand showed that the tourist arrivals in the country rose by 22,000 to 281,000 during the month. Experts say that the number of tourists increased during the month partially due to the Chinese New Year as higher number of tourists arrived from China, Hong Kong and Taiwan.
Labour communications spokeswoman Clare Curran has claimed that telecommunication service provider, Telecom is planning to axe about 1500 jobs soon.
It is believed that the Department of Conservation is planning to cut jobs as part of its efforts to restructure the banks in the coming week. Ms Curran, while speaking in the country's parliament, indicated that the company will announce that it cutting 1500 jobs but said that it is a conservative figure and the exact figure could be close to the estimate.
Global financial institution, the International Monetary Fund (IMF) has warned that the rising housing prices might affect economic stability in New Zealand.
The IMF said that the government is taking appropriate steps to address the situation but added that the rising property prices in Auckland and other parts of the country could affect the economic growth in the country. IMF experts have said that the property speculation could destabilize the economy of the country.
According to the latest figures released, the total spending on high-tech goods and services from information and technology increased $3 billion in just two years.
Statistics New Zealand has said that high-tech goods and services from the country are now worth $23 billion to the country's economy. The statistical agency said that the increase could be because an increasing number of goods are now included in information and communication technology sector.
According to the latest data released about workplace equality, the total number of women holding senior management positions has fallen across New Zealand, which was once a leader in the having the most women in leading positions.
Grant Thornton’s International Business Report (IBR), which was released on the occasion of International Women’s Day on March 8, showed that the total number of women in senior managerial positions across the country has fallen to 28 per cent.
According to the latest figures released, the housing prices in New Zealand have risen to its highest level ever during the previous month. The prices of houses in the country touched record high due to the limited supply of houses.
Todd Corporation, a family owned business based in New Zealand, has said that it is planning to invest in a project to develop the largest methanol plant in North America.
Famers and other residents facing the effects of a drought like situation in Auckland south of the Harbour Bridge, the entire Waikato region and parts of Rotorua have indicated that they are uncertain about when a drought might be declared by the authorities.
Wellington, Feb 26 : Young adults having multiple sex partners are at greater odds of developing alcohol or drug dependency and they breed social disorders, reveals a New Zealand research.
The findings from Otago University which emerge from the long-running Dunedin Multidisciplinary Health & Development study show that the odds of substance disorders were much higher for young women.
Substance disorder involves not only significant use of the substance but also impairment in social, occupational or recreational activities, the journal Archives of Sexual Behaviour reports.
Finance Minister Bill English has said that it will not let Solid Energy will not be let to go under receivership but pointed out that the government is not planning to inject any capital into the company.
While speaking in Beehive, Mr. English said that the government has not decided to inject any fresh capital into the company and also that no formal government guarantee has been offered to the company. Solid Energy is likely to remain in business during the difficult two to three month period when the government, the company and its bankers will try to find a survival plan for the coal company.
Wellington, Feb 21 : Telecommunications giant Ericsson is to build its second fiber ducting plant in New Zealand, the New Zealand government announced Thursday.
The Sweden-based firm would invest about 15 million NZ dollars ($12.51 million) in a new facility in Porirua, near capital Wellington, Commmunications and Information Technology Minister Amy Adams said in a statement.
The plant would produce optical fibre ducting for the government's Ultra-Fast Broadband Initiative (UFB), which aims to reach 75 percent of the population, and potentially also for export to the Asia-Pacific region, she said.
According to reports, German automaker BMW's recent announcement of a worldwide recall of over half a million cars, due to an electrical fault which causes the engine to stall, will affect 32 cars in New Zealand.
As per the reports, the 32 BMW vehicles affected by the recall in New Zealand include a mix of 1 Series and 3 Series, from the model years of between 2007 and 2011. The vehicles identified for the recall in the country will be checked for a flawed battery connection which leads to the halting of the vehicles.
Wellington, Feb 19 : Web giant Google has said that working at home or ''teleworking'' is not the best environment for new ideas to grow and thrive.
According to Google''s chief financial officer Patrick Pichette, very few employees at Google work from home because it is counterintuitive and could isolate employees from other staff, Stuff. co. nz reports.
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