Wellington - A minister in New Zealand's Labour-led coalition government announced on Sunday that he is switching sides and will only serve in a conservative administration after next month's general election.

Peter Dunne, minister of revenue and leader of the United Future party, said he would only support a government formed by the opposition National Party if it wins the election on November 8.

Wellington , Oct 25 : New Zealand is looking to help North Korea pay for imports of heavy fuel oil as a reward for Pyongyang’s disablement of the Yongbyon nuclear facility.

Japanese newspaper Yomiuri Shimbun reports that the Ministry of Foreign Affairs and Trade in Wellington said that the country was discussing offering financial assistance for heavy oil aid for North Korea through six-party talks.

Wellington - New Zealand's Asian community - the fastest-growing group in the nation of just under 4.3 million - is poised to make its voice heard as never before in parliament after next month's general election.

Up to four other Asians could join current members Chinese migrant Pansy Wong and Pakistani Muslim Ashraf Choudhary in the House of Representatives after the poll on November 8.

They will not be a huge bloc in the parliament of about 120 seats, but will have an important profile, given predictions that the number of Asians could near 800,000, close to the estimated indigenous Maori population, inside two decades.

Wellington - Next month's New Zealand general election might not be the predicted sure thing for the conservative opposition National Party, an opinion poll released Thursday night indicated.

Although the Nationals remained well ahead of the Labour Party, which has led minority coalition governments for the past nine years, the Greens, who are seen as certain potential partners for Labour, are showing their biggest level of voter support in five years, the TV3 poll found.

The Nationals are backed by 45.1 per cent of committed voters while Labour is supported by 37.4 per cent. But the Greens are on 8.8 per cent, which with Labour would produce a virtual tie in the election on November 8.

Wellington - The New Zealand stock market fell by more than 3 per cent Thursday, following the downward trend on markets worldwide, despite an unprecedented 1-percentage-point cut in the central bank's benchmark interest rate.

The NZX50 index ended the day down 92 points to 2,807, a fall of 3.18 per cent from Wednesday's close.

Earlier, the Reserve Bank slashed its benchmark interest rate by 1 percentage point to 6.5 per cent, the third cut in 13 weeks after five years with no reductions.

Wellington - New Zealand's central bank cut its benchmark interest rate by an unprecedented 1 per cent to 6.5 per cent on Thursday, its third cut in 13 weeks after making no reductions for five years.

Governor of the Reserve Bank Alan Bollard cited "ongoing financial market turmoil and a deteriorating outlook for global growth" as main reasons for the record cut, which had been widely predicted.