Tuesday, August 2, 2016 — DUBAI, U.A.E., 2 AUGUST 2016 – Emirates has announced that it will resume flights to Conakry, the capital of Guinea, from 30th October 2016.
The flight to Conakry will be linked to Emirates’ four times weekly service between Dubai and Dakar, and will once again provide both business and leisure travellers in Guinea global connectivity through the airline’s network, particularly to destinations in the Middle East, West Asia and the Far East, with one convenient flight connection at its Dubai hub. Key destinations for travellers from Guinea include Dubai, Saudi Arabia, China, Thailand, South Korea, Indonesia and India.
A Boeing 777-300ER aircraft was introduced on the route between Dubai and Dakar today (2 August 2016) ahead of the relinking of Conakry, which will provide additional capacity and an enhanced on board customer experience. The aircraft will be in a three class cabin configuration, with eight private suites in First Class, 42 lie-flat seats in Business Class and 310 spacious seats in Economy Class.
Named the World’s Best Airline 2016 and the airline with the World’s Best Inflight Entertainment at the prestigious Skytrax World Airline Awards recently, all Emirates customers travelling on the aircraft can access over 2500 channels of on demand audio and visual entertainment on its ice system, featuring the latest movies, music, TV programmes, podcast and games. As with all Emirates flights, customers will also enjoy the hospitality of the airline’s multi-national cabin crew, as well as gourmet cuisine and complimentary beverages.
Once Conakry re-joins Emirates’ global network of more than 150 destinations, the airline will serve 28 destinations in Africa, providing expansive connectivity to and from the continent.
In addition to passenger operations, Emirates SkyCargo will also reintroduce its services and offer about 20 tonnes of cargo capacity per flight for key exports such as seafood, fruit, vegetables and textiles, and imports of mobile phones, pharmaceuticals and mining equipment.
Emirates flight EK797 will depart Dubai every Tuesday, and EK795 will depart Dubai every Wednesday, Friday and Sunday at 07h25 and arrive in Conakry at 13h40. The flight will then depart Conakry at 15h10 and arrive in Dakar 16h35. The return flight will depart Dakar at 18h05 and arrive in Dubai at 07h35 the next morning.
Emirates first launched its Dubai-Conakry-Dakar-Dubai route in October 2013. The airline made the decision to suspend services in August 2014 after a review of its operations.
Next generation Mercedes-Benz C Class to get more aluminium and become lighter according to a report from Aluminium Today.
Luxury automotive brand Mercedes-Benz is known to be contemplating a further shift to aluminium in a bid to shed more weight in its next-generation of Merc-Benz C Class models.
With more aluminium in body and frames and advanced new joining processes installed into its U.S. manufacturing plant, the car maker intends to make its new offering much lighter, faster and fuel-efficient while reducing carbon dioxide emissions significantly.
Bulk Carrier’s arrival emphasises port’s role as nation’s fertiliser handling hub.
The arrival at Napier in August of the bulk carrier Mollie Manx emphasises the port’s role as New Zealand’s fertiliser hub.
The 60,000 tonne vessel was built six years ago and calls into Napier before resuming its outward voyage to Laayoune the capital of Western Sahara.
The vessel is registered in the Isle of Man and is owned by LT Ugland Shipping which specialises in owning large-capacity bulk carriers. It was built at the Tsuneishi Phillipine Shipyard.
Vessels in the Ugland fleet are all named after family members or something close to the family, in the case of Molly Manx, the family pet dog.
Port of Napier’s deep-water handling, especially in rapid turnaround, of this type of large scale bulk carrier, ensures that Hawkes Bay remains the centre of the fertiliser sector.
Meanwhile, the family ship owning company is run from the Isle of Man by founder Lars Ugland (pictured) and the Isle of Man flagged vessels are operated by specialist time and voyage charterers.In the Irish Sea, the Isle of Man is a British self governing Crown Dependency and makes its own laws and sets its own taxes. The Isle of Man is a full Maritime Convention nation.
From The MSCNewsWire reporters' desk Sunday 31 July 2016
Ports of Auckland Limited and Napier Port today announced a strategic alliance.
These ports are the gateways to two of the largest North Island provincial economies with significant growth and demands on infrastructure,” says Ports of Auckland Chief Executive, Tony Gibson. The strategic alliance builds on Napier Port and Ports of Auckland’s existing joint venture in Palmerston North’s Longburn regional freight hub and will support Ports of Auckland’s regional freight hub network strategy to manage the growing freight market.
Ports of Auckland Limited and Napier Port today announced a strategic alliance which will provide operational, economic, sustainability and community benefits.
“Ports of Auckland and Napier Port are the gateways to two of the largest North Island provincial economies with significant growth and demands on infrastructure,” says Ports of Auckland Chief Executive, Tony Gibson.
The partnership will allow Napier and Auckland to work together to find ways to optimise services for freight customers and achieve further scale and efficiencies in the supply chain. It will prompt even greater competitive contestability and resilience in New Zealand’s supply chain to help lower costs to exporters and importers.
“There is a natural fit between Ports of Auckland and Napier Port. We share a similar way of working, common customers and supply chain opportunities and have similar ownership structures so that’s a great base to work from,” he added.
Napier Port Chief Executive, Garth Cowie, says the alliance also creates an opportunity to collaborate, share best practice and innovate in technology, health and safety and sustainability practices, areas where both ports are seeking to advance further.
“Napier Port’s vision is to be Central New Zealand’s leading provider of port and logistics solutions. This alliance fits with the natural flow of freight in the North Island, based on ports close to demand centres and Auckland’s weighting towards imports and our strong export base.”
“Both operators are committed to growing our talent so we will be developing a joint talent pool, driving skills development and opportunities like staff exchanges where it makes sense,” he added.
“The alliance is a significant and exciting development for local exporters and the local community,” says Mr Cowie. “Better international freight links will benefit the Hawke’s Bay region, encouraging additional investment and supporting the growth of local employment opportunities.”
“This alliance truly demonstrates what we believe in at ExportNZ, that businesses should consider partnerships and collaboration in order to achieve better results,” said Amanda Liddle, Executive Officer at ExportNZ Hawke’s Bay. “It is a win-win situation for all exporters, as it will lead to an even more streamlined approach.”
The strategic alliance builds on Napier Port and Ports of Auckland’s existing joint venture in Palmerston North’s Longburn regional freight hub and will support Ports of Auckland’s regional freight hub network strategy to manage the growing freight market. This strategy helps to balance freight flows, provides exporters with choice, improves access to overseas markets and reduces exporters’ costs due to supply chain efficiencies.
Today’s development complements the Matariki – Hawke’s Bay Economic Development Strategy $25 million Government package announced last week to support road access improvements to Napier Port.
Richard Holden, Professor of Economics, UNSW Australia says that a large chunk of data was released last week, with more to come this week. And while nothing was either shocking or terrible, there is mounting evidence the world’s economic growth problem is even more entrenched.
Australian inflation was keenly anticipated because of the surprising and concerning low figure last quarter. All groups CPI came with an increase of 0.4% for the quarter, compared to a fall of 0.2% in the prior quarter.
But that puts annual growth over the last 12 months at just 1.0%, well below the Reserve Bank’s target band of 2-3% year. The number was encouraging in part because of the bounce back, but distressing because it puts annual inflation even further away from the RBA target. That increases the already significant likelihood of an interest rate cut, or two, in coming months.
A large chunk of data was released last week, with more to come this week. And while nothing was either shocking or terrible, there is mounting evidence the world’s economic growth problem is even more entrenched.
Australian inflation was keenly anticipated because of the surprising and concerning low figure last quarter. All groups CPI came with an increase of 0.4% for the quarter, compared to a fall of 0.2% in the prior quarter.
But that puts annual growth over the last 12 months at just 1.0%, well below the Reserve Bank’s target band of 2-3% year. The number was encouraging in part because of the bounce back, but distressing because it puts annual inflation even further away from the RBA target. That increases the already significant likelihood of an interest rate cut, or two, in coming months.
As expected, the US Federal Reserve remained cautious, not raising rates, but commenting that “near-term risks to the economic outlook have diminished”. They will probably look to start a tightening cycle of interest rate rises in 25bp increments, perhaps at the next meeting. When the economy was looking stronger late last year, there was discussion of 300bp of increases over a 18-24 month period.
With Australia cutting and the US raising rates the Australian dollar looks likely to fall. The real question is just how much.
Also in the US, less good news was that durable goods orders fell by 4.0% for the month, compared to market expectations of a 1.4% decline. Possibly softening the blow was that a large chunk of the decline was caused by a decrease in aircraft orders, which are notoriously lumpy. For instance, Boeing received 12 aircraft orders in June, down from 125 in May.
Finally, the Bureau of Labor Statistics reported a rise in the Producer Price Index of 0.5% for the June quarter on a seasonally-adjusted basis.
Meanwhile, you might remember Joe Hockey’s admirable goal from the G20 meeting a couple of years ago of a US$2 trillion boost. The IMF instead released figures suggesting that will be missed by US$6 trillion.
To put that in perspective, Australia’s entire GDP was $1.56 trillion. So the G20 basically missed the target by four Australias. Ouch.
Japanese prime minister Shinzo Abe announced plans for a 28 trillion yen (about US$265 billion) stimulus package. This was met with approval by markets, but shows the size of the economic challenges most advanced nations are facing as more and more evidence of secular stagnation mounts.
Over the weekend, US economic growth for the June quarter will be a key measure to watch out for, and will weigh heavily on future Fed rate decisions.
But it seems more likely than not that the Fed will raise rates cautiously, starting with a 25 basis points hike at their next meeting. Meanwhile, expect pressure for an RBA rate cut in Australia and a decline in the Australian dollar if that happens. [NOTE: Since this was written, the RBA yesterday, Tuesday 2 August 2016, cut the cash rate to 1.5% from 1.75%, a new record low.]
Written by Richard Holden, Professor of Economics, UNSW Australia
Disclosure statement: Richard Holden is an ARC Future Fellow.
Vital Signs is a weekly economic wrap from UNSW economics professor and Harvard PhD Richard Holden (@profholden). Vital Signs aims to contextualise weekly economic events and cut through the noise of the data impacting global economies.
A full-page advert in Saturday’s Singapore Straits Times for a two-day ‘Prime New Zealand Properties Expo’, shows how the government is denying reality over foreign buyers.
“If foreign ownership is as small as the government claims it to be, then why would an outfit like Brooke International book a room at the Singapore Hilton and spend $20,000 on an advert for a New Zealand Properties expo?” asked the Rt Hon Winston Peters.
“So what are the benefits of buying in New Zealand according to the advert? They are: ‘No stamp duty’, ‘No restrictions on resale to foreigners’ and ‘A lucrative investment with income up to 30 years’ in ‘fantastic Auckland’ or ‘Queenstown, New Zealand’s adventure wonderland’.
“This advert shows how New Zealand is seen by the rest of the world – an easy place to buy that offers great returns – returns earnt from an already overheated property market in Auckland.
“On the foreign buyer issue this government is spinning faster than an F&P washing machine, but they cannot launder out the cost these foreign buyers are causing to Kiwis.
“We already know the government’s data is bogus because Inland Revenue only records self-declared New Zealand tax residency and that has nothing to do with nationality or visa status. It is shonky window dressing at its worst when we must put New Zealanders first.
“The government must crack down hard on foreign buyers and establish a real register of foreign buyers and not this Clayton’s thing they’ve cobbled together,” Mr Peters said.
A NZFirst press release tuesday 2 August 2016
FunderTech says it has forged a relationship with a Chinese investor club with offices in Shanghai, Beijing, Shenzhen and Chengdu
Auckland-based FunderTech — a company that helps startup tech companies find funding, business development, manufacturing and product distribution opportunities in China — is offering Kiwi startups the chance to pitch to Chinese angel investors writes Stuart Coner on ComputerWorld New Zealand.
FunderTech says it has forged a relationship with a Chinese investor club with offices in Shanghai, Beijing, Shenzhen and Chengdu that will enable five to eight businesses from around the world to pitch in front of 500-800 Chinese angel investors at monthly ‘summit’ conferences.
Trade Minister Todd McClay is travelling to Laos today to participate in a series of Ministerial meetings in the capital city of Vientiane, including the fourth Regional Comprehensive Economic Partnership (RCEP) FTA Ministerial Meeting.
“Following New Zealand’s hosting of the 13th RCEP round in Auckland in June, the Ministerial Meeting will review the overall state of negotiation and look to address key issues, including in services, investment and goods,” says Mr McClay.
“I will continue to press my counterparts to ensure the negotiations deliver a modern, comprehensive and high quality agreement, consistent with the original vision of Leaders.
“The countries involved in RCEP have a combined population of over 3 billion and account for about 27 per cent of global trade. They include six of our top 10 trading partners who took nearly $30 billion of our exports in 2015.
“If RCEP is successfully concluded it will offer New Zealand businesses a single set of rules that deliver access to key markets across Asia, as well as improved trade and investment rules,” says Mr McClay.
While in Vientiane the Minister will also take the opportunity to meet bilaterally with his counterparts from a number of other countries, discussing both the RCEP negotiation and a range of other trade-related issues.
A release from the Beehive, Tuesday 2 August 2016
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