Trusted Trans-Tasman exporters will be rewarded with fast-tracked customs processing at Australian and New Zealand borders under a new arrangement between the two countries.
The Australian Department of Immigration and Border Protection and New Zealand Customs Service (NZ Customs) signed a Mutual Recognition Arrangement (MRA) last Friday, to recognise the supply chain security programmes of both countries.
Australian Border Force (ABF) Commissioner Roman Quaedvlieg, and NZ Customs Comptroller, Carolyn Tremain, met at the World Customs Organization’s sessions in Brussels to sign the MRA.
Commissioner Quaedvlieg said the arrangement would benefit members of the Australian Trusted Trader (ATT) programme and the NZ Customs Secure Export Scheme (SES).
“It is anticipated that the MRA will allow $3 billion of New Zealand exports to Australia to be fast tracked,” Commissioner Quaedvlieg said.
“As we increase membership of the ATT programme, we expect that $7.5 billion of Australian exports to New Zealand will benefit from the MRA by 2020.
“The MRA provides benefits to trusted traders of both countries and provides border agencies greater end-to-end assurance of imports and exports.
“Reducing the regulatory duplication between the two schemes will make it easier for Australian and New Zealand businesses to trade with each other and boost the international competitiveness of both countries.”
NZ Customs Comptroller Carolyn Tremain said the two agencies already work closely together and this arrangement will provide further assurance over trans-Tasman trade for both countries.
“The MRA means New Zealand’s Secure Export Scheme members will benefit from a faster and smoother border experience with our closest neighbour, and gives traders on both side of the Tasman a competitive advantage,” Ms Tremain said.
A NZ Customs press release Tuesday 19 July 2016
Trusted Trans-Tasman exporters will be rewarded with fast-tracked customs processing at Australian and New Zealand borders under a new arrangement between the two countries.
The Australian Department of Immigration and Border Protection and New Zealand Customs Service (NZ Customs) signed a Mutual Recognition Arrangement (MRA) last Friday, to recognise the supply chain security programmes of both countries.
Australian Border Force (ABF) Commissioner Roman Quaedvlieg, and NZ Customs Comptroller, Carolyn Tremain, met at the World Customs Organization’s sessions in Brussels to sign the MRA.
Commissioner Quaedvlieg said the arrangement would benefit members of the Australian Trusted Trader (ATT) programme and the NZ Customs Secure Export Scheme (SES).
“It is anticipated that the MRA will allow $3 billion of New Zealand exports to Australia to be fast tracked,” Commissioner Quaedvlieg said.
“As we increase membership of the ATT programme, we expect that $7.5 billion of Australian exports to New Zealand will benefit from the MRA by 2020.
“The MRA provides benefits to trusted traders of both countries and provides border agencies greater end-to-end assurance of imports and exports.
“Reducing the regulatory duplication between the two schemes will make it easier for Australian and New Zealand businesses to trade with each other and boost the international competitiveness of both countries.”
NZ Customs Comptroller Carolyn Tremain said the two agencies already work closely together and this arrangement will provide further assurance over trans-Tasman trade for both countries.
“The MRA means New Zealand’s Secure Export Scheme members will benefit from a faster and smoother border experience with our closest neighbour, and gives traders on both side of the Tasman a competitive advantage,” Ms Tremain said.
A NZ Customs press release Tuesday 19 July 2016
A Reserve Bank Bulletin article published today looks at the risks to financial stability posed by boom and bust cycles that are prevalent features of housing markets in advanced and developing economies around the world. The article finds that macroprudential actions aimed at mitigating risks from housing market cycles may be justified to help preserve financial stability and long-run economic growth.
Read the article: Financial stability risks from housing market cycles
A RBNZ press release Tuesday 19 July 2016
Manufacturers and exporters welcome the Reserve bank of New Zealand’s (RBNZ) proposed expansion of existing Loan to Value Ratios (LVR) today – this should give them more freedom to address continued low inflation and an exchange rate that remains overvalued and challenging for exporters, say the New Zealand Manufacturers and Exporters Association (NZMEA).
NZMEA Chief Executive Dieter Adam says, “We are pleased to see this action from the RBNZ to continue to sure up the financial system against stability risks in the housing sector. We also support their efforts to look into other measures, such as Debt to Income Ratios, as another tool to protect financial stability.”
“We hope this moves gives the RBNZ more certainty to push forward with cuts to our interest rates to better align them with those in the rest of the world. Inflation remains below target and our exchange rate continues to be overvalued, well above forecasts and the Bank’s own targets – prolonged currency pressure on exporters damages their competitiveness and reduces their ability to make much needed investments for the future.
“However, we know from recent experiences that LVR limits only have a limited and temporary effect on house prices. Rising house prices and rental costs are increasingly becoming an issue for employers, including manufacturers, especially in Auckland. We increasingly hear from our members about people looking at jobs in other cities where their salary would go a lot further – adding to an already serious problem of attracting and retaining skilled workers nationwide, but especially in Auckland.
“Keeping house prices and rents in check is first and foremost the responsibility of central and local government. Government needs to find ways to boost the supply of affordable housing in areas suitable for working people, as well as tackling migration-driven demand spikes and some of the longer term tax incentives that encourage investment in existing housing stock over more productive investment. We should let the Reserve Bank focus on getting inflation in line and ensuring financial stability in our banking system, rather than overloading it with demands and expectations to influence developments beyond its current mandate.” says Dieter.
An NZMEA press release Tuesday 19 July 2016
In a first for airlines in the South Pacific, Air New Zealand is giving customers the freedom to use Bluetooth devices ‘gate to gate’ across its entire fleet.
In line with the airline’s commitment to drive innovation, from Thursday customers flying on any service across the airline’s domestic and international network will be able to operate Bluetooth devices from the departure gate to the arrival gate, provided their devices are set to flight mode.
This means customers can remain connected with their wearable Bluetooth tech such as Fitbit devices, Apple watches and Bluetooth headsets, as well as operate a wireless mouse and wireless keyboard during cruise.
Air New Zealand’s General Manager Customer Experience, Carrie Hurihanganui says enabling Bluetooth powered electronic devices onboard is further evidence of the airline’s customer-centric thinking.
“We’re continually working to enhance our customers’ journeys in every way we can. Enabling customers to use their Bluetooth devices from the departure gate right through to arrivals is part of our dedicated focus to meet the needs of our travellers.”
Air New Zealand secured approval from the Civil Aviation Authority of New Zealand for Bluetooth use onboard following comprehensive testing conducted across its fleet.
Use of Bluetooth devices gate to gate will be limited to common lightweight, handheld personal electronic devices (PEDs), or for large PED devices during cruise. High-power industrial devices are not permitted to be used on Air New Zealand aircraft.
Air New Zealand customers will be able to use Bluetooth devices onboard from Thursday July 21st.
An Air New Zealand press release Tuesday 19 July 2016
The program will provide advanced training to smooth the path between the end of pilot training courses and taking up positions, Ardmore Flying School CEO Mike Newman said regarding the memorandum of understanding (MoU) signed with Batam-based FlyBest Flight Academy on fixed-wing flight training.
"What we find happens is often students are only buying the minimum training course that gets them past the legal requirement, and there tends to be an enormous gap between that training program and what the industry is looking for in terms of giving employment outcomes," Newman said. The partnership looks to give several hundred pilots high-standard skills in the 18-month long professional course, he added.
The Indonesian academy is planning to cooperate with its New Zealand counterpart on redesigning the training course by also improving student resources, including providing quality instructors, FlyBest Flight Academy CEO Karin Item said.
"What's interesting is that New Zealand has something we don't have in our program here, which is special training for mountainous areas," Karin said.
She said the course could possibility be designed to be partly carried out in New Zealand, adding that scholarships would hopefully be available in the future. The details of the partnership are still being discussed, Karin continued, unable as yet to provide the monetary value of the deal.
At its current rate, the Indonesian academy produces 30 pilots per year, she said, but the number could be increased through the cooperation. Karin said some graduates of the school have gone on to work in AirAsia Indonesia, adding that internationally recognized skills gained through the renewed program would increase the graduates competitiveness even more.
According to Boeing, from 2014 to 2034, Indonesia will require an average 900 pilots per year, with only 400 graduates from the current aviation schools.
Source: The Jakarta Post
Increasingly awkward national role as US foreign policy cheerleader
US Vice President Joe Biden’s “touchdown” this week in New Zealand presents New Zealand premier John Key with the problem of having to enthuse over several issues that he knows are actually or potentially damaging to the economy, or are being viewed as unlikely to happen.
They are:-
Mr Key will have to keep his mouth shut on the now distinct possibility of a President Donald Trump who has pledged to cancel all such trade treaties on being elected.
From the MSCNewsWire reporters' desk, Tuesday 19 July 2016
Increasingly awkward national role as US foreign policy cheerleader
US Vice President Joe Biden’s “touchdown” this week in New Zealand presents New Zealand premier John Key with the problem of having to enthuse over several issues that he knows are actually or potentially damaging to the economy, or are being viewed as unlikely to happen.
They are:-
Mr Key will have to keep his mouth shut on the now distinct possibility of a President Donald Trump who has pledged to cancel all such trade treaties on being elected.
From the MSCNewsWire reporters' desk, Tuesday 19 July 2016
The Reserve Bank has today released a consultation paper proposing changes to loan-to-value restrictions (LVRs) to further mitigate risks to financial stability arising from the current boom in house prices.
“The banking system is heavily exposed to the property market with residential mortgages making up 55 percent of banking system assets. Investor lending has been increasing rapidly and is a significant contributing factor to the current market strength. The proposed restrictions recognise the higher risks associated with such lending,” Governor Graeme Wheeler said.
Under the proposed new restrictions:
· No more than 5 percent of bank lending to residential property investors across New Zealand would be permitted with an LVR of greater than 60 percent (i.e. a deposit of less than 40 percent).· No more than 10 percent of lending to owner-occupiers across New Zealand would be permitted with an LVR of greater than 80 percent (i.e. a deposit of less than 20 percent).· Loans that are exempt from the existing LVR restrictions, including loans to construct new dwellings, would continue to be exempt.These proposed new restrictions would take effect on 1 September 2016 and simplify the LVR policy by removing the current distinction between lending in Auckland and the rest of the country.
Mr Wheeler said: “The drivers of the housing market strength are complex and action is required on many fronts that extend well beyond financial policy. Broad initiatives to reduce the underlying housing sector imbalances need to remain a top priority.
“A sharp correction in house prices is a key risk to the financial system, and there are clear signs that this risk is increasing across the country. A severe fall in house prices could have major implications for the functioning of the banking system and cause long-lasting damage to households and the broader economy.
“LVR restrictions to date have improved the resilience of bank balance sheets by reducing banks’ exposure to riskier mortgages. This policy initiative is intended to further improve the resilience of bank balance sheets, and it will assist in restraining credit and housing demand.
“We expect banks to observe the spirit of the new restrictions in the lead-up to the new policy taking effect.”
Consultation concludes on 10 August.
Mr Wheeler said that the Bank is progressing its work on potential limits to high debt-to-income ratio lending, which would be a potential complement to LVR restrictions.
“We have had positive initial discussions with the Minister of Finance on amending the Memorandum of Understanding on Macro-prudential policy to include this instrument.”
A RBNZ press release July 19, 2016
Imagine Carless Days For Auckland?
They did little to reduce consumption and were scrapped in May 1980. But in saying that just maybe the principal behind this could help make Aucklanders lifes a little easier on the highways and byways of the city. And as far as business is concerned anything that will help with improving productivity has to be looked at. You would think.
It would have its difficulties for sure, for some the car is an appendage so a day without the car would be just unthinkable! But think of the good it could do. A great way to meet new people. Uber drivers would love it, car pooling would become a must do activity, fuel stations could be gathering points for pick-ups and then throw in the odd Pokemon. So why shouldn't it work?
As in the 70's you would get to nominate your carless day and for this receive a colourful windscreen sticker. There would even be "X" for exempt sticker available for those who qualifed. Campervans and the like you would think.
It is local body election year afterall so maybe it's a platform for one of the Mayoral hopefuls. Don't think it would have suited Len though.
Source: A readers whim.
Palace of the Alhambra, Spain
By: Charles Nathaniel Worsley (1862-1923)
From the collection of Sir Heaton Rhodes
Oil on canvas - 118cm x 162cm
Valued $12,000 - $18,000
Offers invited over $9,000
Contact: Henry Newrick – (+64 ) 27 471 2242
Mount Egmont with Lake
By: John Philemon Backhouse (1845-1908)
Oil on Sea Shell - 13cm x 14cm
Valued $2,000-$3,000
Offers invited over $1,500
Contact: Henry Newrick – (+64 ) 27 471 2242