| Wellington , Nov 23, 2016 | -International Travel and Migration: October 2016 - New Zealand’s unadjusted annual net gain (more arrivals than departures) of migrants was a record 70,300 in the October 2016 year, Statistics New Zealand said today. This surpasses the previous annual record of 70,000 in the September 2016 year.
“The record annual net gain in migration was driven by the increase in migrant arrivals,” population statistics manager Jo-Anne Skinner said. “At the same time migrant departures decreased, adding to the high net gain.”
Migrant arrivals numbered 126,100 in the October 2016 year, setting a new annual record. Migrant departures were 55,800 in the October 2016 year.Visitor arrivals set new record
Visitor arrivals numbered 260,200 in October 2016, setting a new October record. The latest month’s figure was up 14 percent from October 2015.
In the October 2016 year visitor arrivals hit a record 3.42 million, up 12 percent from October 2015.New Zealanders depart on highest-ever number of overseas trips
In October 2016, New Zealand residents made a record 231,000 trips overseas, up 7 percent from October 2015.
New Zealand residents set a new annual record of 2.55 million overseas trips in the October 2016 year, up 7 percent from the October 2015 year.
WELLINGTON, Nov. 22 (Xinhua) -- New Zealand exports to South Korea have grown strongly since the two countries implemented a bilateral free trade agreement in December last year, Trade Minister Todd McClay said Tuesday.
In the first nine months since entry into force of the New Zealand-Korea Free Trade Agreement, food and beverage exports to South Korea rose 16 percent to 449 million NZ dollars (317.17 million U.S. dollars) compared to the same period a year earlier, McClay said in a statement ahead of the first anniversary of the agreement.
"Those products where tariffs have been eliminated immediately have fared extremely well," said McClay.
Exports of New Zealand cherries to Korea, for example, which previously had a tariff of 24 percent, have more than doubled (221 percent) to 4.3 million NZ dollars (3.04 million U.S. dollars) between January and the end of September while New Zealand wine exports rose 28 percent to 1.9 million NZ dollars (1.34 million U.S. dollars) following the removal of a 15 percent tariff.
Butter exports were up 150 percent to 12 million NZ dollars (8.48 million U.S. dollars) and cheese exports were up 13 percent to 58 million NZ dollars (40.99 million U.S. dollars).
"There has also been significant improvement in export items where tariffs will be removed over time," said McClay.
The value of New Zealand's substantial kiwifruit exports to Korea have grown 18 percent so far this year to reach 65 million NZ dollars (45.94 million U.S. dollars). Avocados are up 39 percent, meat extracts for food preparations up 62 percent, and deer velvet up 81 percent, he said.
Many exporters can look forward to further improvements to their products' competitiveness in the Korean market when the third round of tariff cuts under the FTA (free trade agreement) takes place on Jan. 1, 2017, the minister said.
In the year ending September, South Korea was New Zealand's sixth largest goods export market worth 1.5 billion NZ dollars (1.06 million U.S. dollars).
| Wellington Nov 23, 2016 | -Trade Minister Todd McClay and opposition MPs will travel to Europe and Iran over the next week to take part in a number of trade-related events.
Mr McClay says New Zealand needs to engage more broadly in trade-related activities in Europe and this mission would offer a valuable opportunity to promote New Zealand goods and services in these lucrative markets.
"Italy, France and the United Kingdom are collectively worth more than $9.2 billion of two-way trade and are home to 190 million consumers. That is significant.
“The mission will engage directly with New Zealand businesses and their counterparts in these three countries and we will look to open doors to further enhance our high quality reputation and trade presence.
“I am grateful to New Zealand First Leader and Northland MP, the Right Honourable Winston Peters for agreeing to participate in the business-focused legs of the Europe visit,” says Mr McClay.
The Trade Minister will then travel to Iran with a delegation of 17 New Zealand companies.
“Iran has traditionally been a very important market for our sheep meat and butter. Earlier this year the visiting Iranian Foreign Minister said Iran presented a $1 billion prospect for New Zealand. This mission will be an important first step towards delivering on this exciting opportunity,” says Mr McClay.
Labour has designated their Trade spokesman David Clark to join the Iran delegation.
Mr McClay will also visit Warsaw to lobby the Polish government for an EU-NZ FTA.
While you were sleeping: Fresh record highs
Jetstar boosts regional economies by up to $40m
SI freight charges higher after quake
Beefed-up China trade deal hoped to benefit dairy farmers
Silver Fern sale to complete ahead of schedule
Changing dynamics in household behaviour help explain low inflation
Launch of negotiations to upgrade China FTA announced
The Reserve Bank is taking account of changing household saving and spending behaviours in its inflation forecasts, Deputy Governor Geoff Bascand said in a speech to the Australia National University in Canberra this evening.
Mr Bascand said that Australasian patterns of saving and spending are proving different from other advanced economies.
Internationally, demand dynamics have changed since the global financial crisis (GFC), challenging inflation modelling and, in some cases, inflation-targeting frameworks.
Some economists suggest that we are now in an era of “secular stagnation”, with persistent low demand due to higher saving and a reduced tendency to invest, driving down the long-term real neutral interest rate. Others point to an overhang from earlier excessive debt accumulation and suggest that demand is being depressed by a lengthy period of deleveraging (reduced borrowing).
Across advanced economies, investment has been weak and national saving rates on average haven’t altered significantly since the GFC.
But a different picture emerges in Australasia, which has witnessed an uplift in saving, especially by households, and steady output growth supported by robust investment.
“In Australasia the current outlook looks a lot like that which prevailed before the 2000s. In other advanced economies, weak investment growth, coupled with a disappointing expansion in the supply side of the economy, points to a world more consistent with lower long-term growth expectations.
“To what extent heightened household saving preferences in Australasia represent a permanent shift or a prolonged deleveraging adjustment is uncertain. Some indicators provide tentative support to the view that it represents a prolonged cyclical correction.”
Mr Bascand says the rate of growth of consumption, including the relationship between consumption and wealth, is crucial to the Reserve Bank’s assessment of business cycle dynamics and inflation prospects. Projections of demand arising from historical estimates of consumption from wealth have been over-optimistic. Weaker spending than expected out of higher housing wealth is part of the reason why inflation has been lower than forecast.
He says taking into account the increase in household saving we have seen, the links between interest rates, output and inflation appear stable.
“Currently, we are projecting per-capita consumption growth to improve and provide an impetus to output growth. The acceleration is modest compared to the previous cycle as household saving is expected to remain positive over the forecast horizon.”
Read the speech: Changing dynamics in household behaviour: What do they mean for inflationary pressures?
United States President-elect Donald Trump said today that he will withdraw from the Trans-Pacific Partnership (TPP) on the first day of his presidency.
In a video posted to Twitter, Trump said on day one he would "issue a notification of intent to withdraw from the Trans-Pacific Partnership, a potential disaster for our country. Instead, we will negotiate fair bi-lateral trade deals that bring jobs and industry back onto American shores."
Twelve countries including Canada, Mexico, Australia, Malaysia, Singapore, Brunei, Vietnam, Peru and Chile signed the agreement, which would reduce tariffs to try to boost trade in the region. The deal requires the United States to sign in order to come into force. The TPP excludes China, and was widely seen as an attempt by the United States to secure its leading role in the Asia-Pacific against an emerging China.
The future of the TPP was the main topic at the APEC conference in Peru this weekend, with prime minister John Key saying as he left the summit that he was "“a little more confident that we can get President Trump to come back to the table and have a look at TPP” but New Zealand had a lot of other free-trade opportunities, including good progress on an FTA with Gulf states and the potential to sign one with the European Union next year.
New Zealand and China also agreed to negotiate an update to their existing Free Trade Agreement
WorkSafe has developed a new online tool to help businesses get started with managing their workplace health and safety risks. The ‘Around the Block’ tool is animated and interactive, taking users on a journey through a typical city block.
Thirteen businesses often seen on a city block have been included so far – from cafes and hair salons, to medical centres and petrol stations. Clickable hotspots within each of the interiors identify some of the health and safety risks in that business and provide some information on how to manage them.
Over time, more business types will be added to the block, particularly targeting small and medium sized businesses that make up some 97% of the in New Zealand business landscape.
“Businesses have told us they want to better understand health and safety in their particular business context, so we worked with representative businesses to develop and test the tool. It’s designed to support them with training and involving workers in identifying and managing some of their key health and safety risks,” said Katherine Low, Manager Education and Engagement Strategy at WorkSafe.
The tool, www.worksafe.govt.nz/atb, was built by WorkSafe in collaboration with ACC to help businesses better understand their obligations under the new Health and Safety at Work Act from a risk management perspective.
Henry Ford offered Keith Holyoake a game changer.
| Napier - MSCNewsWire - Tuesday 22 Nov, 2016 | Just over a half century ago Henry Ford proposed to New Zealand prime minister Keith Holyoake a deal that would have forever changed the face of the economy. The deal was this...
If the New Zealand government would allow Ford to bring its cars into New Zealand fully built-up and ready for the road, then the Ford Motor Company, said Mr Ford (pictured at the time) would make New Zealand one of its key centres globally for the supply of castings and forgings.
At this time New Zealand was the acknowledged leader in castings and forgings in Oceania.
The problem the industry had was short-run production. There was not the scale for the long runs required to embed the industry so that it did not have to be protected, which it was, and heavily.
This was the height of the protectionist era. The Ford cars were shipped into New Zealand as kitsets, known as CKDs – completely knocked down. In effect, disassembled vehicles. These were reassembled again in the Hutt Valley providing immense employment and thus contributing to the reverse unemployment of that era. Too many jobs. Not enough people to do them.
The Ford Motor Co had seen all this. Now was the time to put forward the offset in the form of designating New Zealand as what would now be known as a centre of “ excellence” for castings and forgings components.
In the event premier Keith Holyoake whose operating principle was “steady as she goes” turned down the scheme and the CKDs poured into New Zealand for another 20 years.
Henry Ford offered Keith Holyoake a game changer.
| Napier - MSCNewsWire - Tuesday 22 Nov, 2016 | Just over a half century ago Henry Ford proposed to New Zealand prime minister Keith Holyoake a deal that would have forever changed the face of the economy. The deal was this...
If the New Zealand government would allow Ford to bring its cars into New Zealand fully built-up and ready for the road, then the Ford Motor Company, said Mr Ford (pictured at the time) would make New Zealand one of its key centres globally for the supply of castings and forgings.
At this time New Zealand was the acknowledged leader in castings and forgings in Oceania.
The problem the industry had was short-run production. There was not the scale for the long runs required to embed the industry so that it did not have to be protected, which it was, and heavily.
This was the height of the protectionist era. The Ford cars were shipped into New Zealand as kitsets, known as CKDs – completely knocked down. In effect, disassembled vehicles. These were reassembled again in the Hutt Valley providing immense employment and thus contributing to the reverse unemployment of that era. Too many jobs. Not enough people to do them.
The Ford Motor Co had seen all this. Now was the time to put forward the offset in the form of designating New Zealand as what would now be known as a centre of “ excellence” for castings and forgings components.
In the event premier Keith Holyoake whose operating principle was “steady as she goes” turned down the scheme and the CKDs poured into New Zealand for another 20 years.
Tertiary Education, Skills and Employment Minister Steven Joyce has today welcomed figures showing a growing proportion of domestic graduates are completing qualifications in STEM-related subjects (science, technology, engineering and maths).
“More people are qualified to move into jobs where STEM skills are required,” Mr Joyce says. “The Tertiary Education Strategy 2015-2019 set a target to prioritise getting industries the skills they needed. This new report shows that the Government is delivering on that.”
In engineering and related technologies, the number of graduates reached 2,075 in 2015, an increase of more than 500 from 2008. In 2015, engineering graduates represented 5.0 per cent of all graduates at bachelors level or higher, an increase from 4.3 per cent in 2008.
“Further to that, the number of female graduates completing civil engineering qualifications increased 82 per cent from 2008 to 2015. Females now represent 19 per cent of civil engineering graduates. Women completing electrical and electronic engineering degrees also rose 71 per cent from 2008.
“Graduates completing Information technology qualifications increased to 1,610 in 2015, an increase of 515 from 2008. We expect that to increase further with the introduction of three new ICT Graduate Schools in Auckland, Wellington and Christchurch.”
Natural and physical sciences also increased as a proportion of graduates at bachelors level or higher, reaching 9.6 per cent in 2015, up from 9.0 per cent in 2008. The number of graduates completing a qualification in this field was 4,000 in 2015, an increase of 765 from 2008.
Today’s report is an extension of research released earlier this year as part of the What did they do? The field of study of domestic graduates 2011-2014. This extended research now includes figures through to 2015 and draws a comparison back to 2008.
Overall, the number of domestic students completing a qualification at a tertiary education provider was 121,700 in 2015, an increase from 107,285 in 2008.
What did they do? The field of study of domestic graduates 2008-2015 is available at https://www.educationcounts.govt.nz/publications/tertiary_education/education-outcomes/what-did-they-do-the-field-of-study-of-domestic-graduates-2008-2015
More analysis of people completing qualifications at tertiary education providers can be found at http://www.educationcounts.govt.nz/statistics/tertiary-education/retenti...
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