NZME will pay $55 million in cash and issue shares giving Australia's Fairfax Media a 41 percent stake if a planned merger of New Zealand's dominant publishers is given the go ahead.

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The New Zealand dollar surged to a 16-month high after prices rose at the latest GlobaldairyTrade auction and data showed growth in the US services sector was weaker than expected.

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The Guardian reports that New Zealand has the world’s most frenetic property market, with prices in Auckland now outstripping London, and possibly dashing the hopes of British buyers hoping to escape Brexit. In a global ranking of house price growth by estate agents Knight Frank, New Zealand was second to Turkey, but once the impact of inflation was stripped out it came top with 11% annual growth.

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The Engineer reports that a group proposing the UK’s first new university in 30 years believes it’s time for a revolution in the way we teach engineering.

The engineering skills problem isn’t going away. Despite the efforts of various outreach programmes, publicity campaigns and government initiatives, the number of businesses complaining about the quality and quantity of engineering graduates remains stubbornly high.

While the number of engineering students has grown in line with the wider take-up of higher education, the latest skills survey from the Institution of Engineering and Technology (IET) found around 40 per cent of engineering firms struggle to recruit graduate engineers, with 54 per cent saying graduate skill levels did not meet reasonable expectations.

So is it time for a revolution in the way we teach engineering in the UK? A group proposing to build the UK’s first new university in 30 years believes so and plans to initiate just that. Called the New Model in Technology & Engineering (NMITE), the private university aims to create a supply of work-ready engineers to support local engineering firms in its planned home in Herefordshire from 2017.

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The country’s biggest plastic packaging manufacturer, Pact Group, has announced that it will acquire Australian Pharmaceutical Manufacturers for $90 million, continuing the company’s aggressive goal of building its revenues to $5 billion through acquisitions.

News.com.au reports that the price for APM, which serves the nutraceuticals market, was 6.5 times APM’s earnings before interest, tax, depreciation and amortisation.

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Comvita plans to acquire 51 percent of its Chinese distributor in a $30 million all-stock deal that will see the owners of Shenzhen Comvita Natural Food Co lift their holding in the New Zealand manuka honey products company to more than 11%

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Tianjin Airlines is a regional airline headquartered in Tianjin Binhai International Airport passenger terminal building, Dongli District, Tianjin, People's Republic of China.

Tianjin Airlines, which is Auckland's Chinese carrier, will launch the first Chinese flights from Auckland to Chongqing and Tianjin of China in December 2016. The flights will operate between Tianjin, Chongqing and Auckland three times a week using an A330 aircraft.

It will be the first Oceania route for Tianjin Airlines, which plans to use an A330 aircraft on the new routes to two of China's most important economic centers. In May 2016, Tianjin Airlines imported its first A330 aircraft, since then 9 international routes have been in operation, including Tianjin-Moscow and Tianjin-Chongqing-London, which showed the internationalization of Tianjin Airlines by leaps and bounds.

The launch will involve direct flights from China's fourth largest city, Tianjin to Chongqing, one of the world's largest urban centers and a major manufacturing and transportation hub in southwest China, and then fly to Auckland three times per week all year-round.

Chongqing is a major economic center of the Yangtze basin and has a population of more than 30 million. Chongqing has invested heavily in infrastructure and is very well connected to the rest of China. These infrastructure improvements have led to the arrival of numerous foreign direct investors in industries including car manufacture, finance and retailing.

With a population of more than 15 million, Tianjin is the largest coastal city in northern China and the major gateway port serving the capital Beijing. It is also home to a Special Economic Zone where key experimental economic reforms are taking place, and has become a hub of advanced industries and financial activities with 285 of Fortune 500 companies now having presence there.

The A330 selected by Tianjin Airlines is designed to carry 260 passengers with 18 business class seats and 242 economy class seats. Auckland Airport estimates that Tianjin Airlines' new service will add 83,000 seats for Auckland route every year and will provide a $102 million boost to the New Zealand tourism industry.

Norris Carter, Auckland Airport's general manager – aeronautical commercial, says the airport warmly welcomes Tianjin Airline's announcement. With more and more Chinese people travelling to New Zealand, attracted by its safety and unique scenery, "This is great news for Auckland Airport as well as for our city and the country."

"China is a rapidly developing source market for New Zealand tourism and this new route flying directly to Auckland provides another option for Chinese visitors to experience New Zealand," Carter said.

University of Otago Associate Prof Stephen Moratti has been granted $81,309 to develop new gel technology to achieve controlled drug release, including after surgery. His grant was one of 10, totalling $826,000, provided throughout the country as part of the Science for Technological Innovation National Science Challenge, and announced last week by Science and Innovation Minister Steven Joyce.

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Emirates’ Earlybird fares from New Zealand announced today include a host of Europe destinations - among them London from $1,959 return - across the network of 38 European cities that it flies to directly.

The Earlybird fares, for travel in 2017, include 17 points in Europe that will be accessible by A380 flights all the way from New Zealand, including one from Auckland with just one stop, in Dubai.

The list of return economy fares from Auckland and Christchurch includes popular destinations such as Amsterdam (from $1,889, all taxes included), Paris and Barcelona (from $1,939), Rome (from $1,969) and Frankfurt (from $1,979).

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Hilton has announced the opening of Chateau on the Park - Christchurch, a DoubleTree by Hilton.

Formerly Chateau on the Park, the property is adjacent to Hagley Park, within walking distance to Christchurch Botanic Gardens and the western business district, and a five-minute drive into the city.

The hotel will be the second DoubleTree by Hilton to enter New Zealand and joins four Hilton Worldwide hotels in Auckland, Taupo and Queenstown.

It has been fully refurbished and offers 192 guest rooms, a Den Bar, Garden Court Brasserie, and seven meeting spaces as well as a business centre, heated outdoor swimming pool and a fitness room.