Mountains of slag all over the world are a Kiwi company's idea of great riches.
The waste from mines is dumped into mounds so big that they can generate their own weather patterns -- but New Zealand company Avertana says they can each be worth half a billion dollars.
Avertana is a start-up company that has received a kickstart from a new fund set up by The Icehouse innovation hub and its investors ICE Angels.
The "Tuhua" fund has raised $10 million dollars to target 25 Kiwi start-up companies.
ICE Angels CEO Robbie Paul says the idea is to be a game changer.
Continue to read the full article on Newshub || April 18, 2017 |||
Reinforces New Zealand connections with doomed Atlantic Liner
New Zealand’s connection to the world’s most famous shipwreck the Titanic has become reinforced with the entry by Ocean Gate into the passenger tour business starting next year with scheduled dive tours to the wreck.
Ocean Gate is organised by Stockton Rush (pictured above) who is part of the family of the late Stockton Rush 11 who invented the high end terrestrial tourist business in New Zealand.
United States oilman Stockton Rush 11 developed Takaro Lodge in the South Island southern lakes district as a conservation and tourist centre for the rich.
The problem for the Lodge was that Mr Rush’s development coincided with the Labour government of Prime Ministers Norman Kirk and Wallace Rowling.
At this time the Labour government was anxious to be seen to be returning to its working class roots.
The publicity surrounding Takaro Lodge and especially its bathroom fittings which were said to be gold plated, along with the moneyed celebrities who stayed there meant that the Lodge became a target for government-inspired obstacles.
The current Stockton Rush is similarly in the premium tourist business, though this time of an undersea nature, and based in the United States.
Round dive costs have been calculated on an inflation adjusted formula relating to a first class trans-Atlantic berth on the Titanic itself (pictured below), this being in the region of NZ$150,000.
A qualified aerospace engineer and commercial pilot, Mr Rush is supervising the construction of his passenger dive craft known as Cyclops 2.
The Rush family’s tourist-based connection with New Zealand and the Titanic supplements the better known one of film magnate James Cameron and New Zealand.
It was Mr Cameron’s film, coincidentally financed by Rupert Murdoch, a continuing New Zealand omnipresence, that re-ignited the curiosity about the disaster and its causes and effects.
Subsequently New Zealand relatives have been discovered of Frederick Fleet the crows nest look out who first sounded the alarm about the imminence of the iceberg.
Mr Fleet later testified at the court of inquiry that the absence of any binoculars at his post meant that his warning came too late.
Meanwhile the Stockton Rush of Takaro Lodge fame an imposing-looking man who resembled the actor James Garner died at the age of 69 in 2000.
Mr Cameron with his numerous projects with New Zealander Peter Jackson resides in the Wairarapa Valley in which he has established a health foods grocery.
Lookout Frederick Fleet died in 1965.
| From the MSCNewsWire reporters' desk || Tuesday 18 April 2017 |||
Scientists have used some surprising and ingenious methods to get Greenshell™ mussels to breed in captivity and their efforts could soon be worth $200 million a year to the New Zealand economy.
Warm baths and vibrating devices are just two of the clever tricks New Zealand scientists have employed to get the famous (and somewhat shy) Greenshell™ mussels to breed on cue. The first crop from the SPATNZ hatchery is now ready to harvest and to eat, after years of investigative work in Nelson, New Zealand.
Scientist and SPATNZ boss, Rodney Roberts says it’s taken quite a bit of experimenting to get the mussels to give up their secrets.
“Normally these mussels breed in the wild and we wait for their babies, known as spat, to wash up on beaches attached to seaweed or land on catch ropes. That made life difficult for New Zealand mussel farmers, who had to cross their fingers and hope they would have enough spat for their farms from year to year.”
“We had to work pretty hard to figure out how to get the Greenshell™ mussels to breed reliably in our hatchery. We experimented with lighting, different bath temperatures and sounds and we finally settled on a combination of light, temperature and small vibrations that seems to really get the mussels going, encouraging them to produce maximum quantities of sperm and eggs.”
Rodney says the process might sound funny, but it has yielded seriously good results.
“We are now able to produce billions of mussel eggs each month and the great news is that these are growing into strong, faster growing and more consistent mussels.”
Mussel farmers agree. Bruce Hearn, who farms in the Marlborough Sounds and is also the Chairman of Aquaculture New Zealand says he’s incredibly excited about what it means for the industry.
“There are a lot of aspects to wild spat, it differs in quantity and quality, you never know when it is coming and when you can get it so there is no certainty. One of the advantages of hatchery spat is that we will know when we are getting it and we can plan for it. That will make a huge difference. It may be hard to appreciate just how much difference it will make, but that is a huge advantage on its own.”Gary Hooper the CEO of Aquaculture New Zealand agrees.
Hatchery spat is a game changer for our industry, it opens up all sorts of opportunities around selective breeding and product development in high value areas like nutraceuticals and superfoods. New Zealand mussels are already world famous but the hatchery unlocks a new level of innovation to take our industry to another level.”
The SPATNZ hatchery and the science behind it is the result of a collaboration between the Ministry for Primary Industries (MPI) and New Zealand’s oldest and biggest seafood company, Sanford, through the Primary Growth Partnership.
Sanford CEO, Volker Kuntzsch, who is a scientist himself (he has a Masters in Zoology), says he’s delighted to see the innovations at SPATNZ paying off.
“It’s always very satisfying when scientists can say that they’ve done it – they’ve confronted a problem head on in a smart way and they’ve solved it. Sanford is delighted that our mussel farmers will get real and significant benefits from SPATNZ’s hard work.”
Sanford and MPI are each investing $13 million into this PGP programme over its lifetime. Sanford and its contract growers will initially benefit from the research and technology but a requirement of this Primary Growth Partnership programme is that in time the technology will be shared with everyone in the industry.
MPI’s Director Investment Programmes Justine Gilliland says MPI is excited by the progress of the SPATNZ PGP programme and its prospects.
“The key things that we think are amazing opportunities for the programme are around not only the product in its raw form, those beautiful Greenshell™ mussels that we all love to eat, but also the opportunity for example, with nutraceutical products.“One of the requirements of PGP programmes is that, at the end of the day, the knowledge is disseminated more widely to the industry. We are really excited about the opportunity that the SPATNZ programme presents for the rest of the industry in New Zealand.”
Dan McCall, SPATNZ Operations Manager, says the whole programme is paying off, both in the hatchery and on the plate.
“It's really exciting. It’s a team effort and there have been many people over the years who have been involved, and now it is a reality. It’s great! We have already tasted a sample. We cooked some up for lunch the other day and yeah, we know they are good, we know they are delicious.”SPATNZ hatchery mussels are at harvest size now in the Marlborough Sounds and close to 500 tonnes of them will be harvested over the coming months.
Background
• The SPATNZ hatchery opened in 2015 in Nelson New Zealand and hatchery spat are currently growing on mussel farms in Pelorus Sound in Marlborough• 17 people are employed by SPATNZ at present• Greenshell™ mussels is the trademarked trading name for New Zealand green lipped mussels and sales of them in 2016 were worth around $350m• Greenshell™ mussels have anti-inflammatory properties and other characteristics that make them suitable for nutraceuticals• Aquaculture generally is worth around $530m to New Zealand annually and the industry wants to grow to be a billion dollar sector by 2025• When the programme reaches the end of its second stage, SPATnz expects to have developed hatchery methods capable of producing spat for around 30 thousand tonnes a year of adult mussels. Last year the industry produced a total of just over 80 thousand tonnes of Greenshell™ mussels• Mussels can swim. When they are in the larval stage they spend three weeks swimming around looking for a place to land, settle and grow.
| A SPATNZ release || April 10, 2017 |||
Emirates has today introduced a range of sizzling fares for travel from New Zealand in time to enjoy the Europe summer across a range of 39 destinations.
The latest offers include flights directly into and out of favourite sea and river cruise connection points as well as rail links. And New Zealand travellers can also choose to enter Europe or the UK through one gateway and return from another point on the extensive Emirates network.
“We recognise that many travellers, especially those visiting friends and relatives, are not always in a position to make their bookings early, and these fares for travel into the peak northern summer months will be good news for a wide range of people,” said Emirates’ New Zealand regional manager, Chris Lethbridge.
“They will also very much suit the premium leisure market, which commonly books later.”
Emirates has five daily A380 double-decker services out of New Zealand to Dubai and beyond - one from Christchurch and four from Auckland, including a non-stop service to Dubai.
“The Dubai hub provides great connections onwards to Europe, with Emirates’ flights reaching most destinations only six or seven hours later.”
From Auckland, Economy Class return fares include Paris from $1,729, Rome from $1,759, Frankfurt from $1,779, London and Manchester from $1,809, Birmingham from $1,909; Dublin from $1,869. Business Class return fares start at just $6,919 to Rome, $6,949 to London, and $6,999 to Paris, among others.
From Christchurch, Economy Class return fares include Amsterdam and Bologna from $1,929; Paris and Frankfurt from $1,979; London from $2,049, and Copenhagen from $1,989, among others. Business Class return fares start at $7,409 to Amsterdam, $7,509 to Frankfurt and $7,529 to London.
All fares are inclusive of taxes. Terms and conditions and various travel dates apply. For bookings or more details visit emirates.com/nz, your local travel agent, or contact Emirates on 0508 EMIRATES (0508 364 728).
| An Emirates release || April 17, 2017 |||
Trade Minister Todd McClay travels to Malaysia today for high-level talks with Malaysian Trade Minister Mustapa Mohamed and to mark 60 years of successful bilateral relations between the two countries.
Mr McClay will also speak about trade and investment opportunities in New Zealand at a business forum in front of 150 of Malaysia’s top executives and investors.
“We have made a lot of progress in 60 years, particularly since a free trade agreement (FTA) was signed between our two countries in 2010,” Mr McClay says.
“Malaysia is now our 10th largest two-way trading partner and in 2016 we exported more than a billion dollars of goods and services to them.
”Malaysia is also a big investor around the world and I will be talking to key business people about opportunities for greater two-way investment, including in New Zealand’s booming tourism, hotel and hospitality sectors.”
Malaysia is a founding member of the Association of Southeast Asian Nations (ASEAN) who are forecast by 2050 to consume three times more dairy and double the amount of fruit and meat than they consumed in 2007.
“The Asia-Pacific is the fastest growing region in the world and this presents a huge number of opportunities for our farmers, growers, exporters and our wider economy,” Mr McClay says.
“In January our FTA saw tariffs eliminated from 99.5 per cent of New Zealand’s exports to Malaysia. So we are very well placed to increase our trade and investment with this lucrative market.”
| A Beehive release || April 17, 2017 |||
The Reserve Bank today released a new edition of its popular guide to managing the risks involved in saving and investing.
‘Upside, downside: A guide to risk for savers and investors’ was commissioned by the Reserve Bank and written by investment commentator Mary Holm for ordinary New Zealanders.
Since original publication in 2012 the guide has received two significant revisions to take account of changing KiwiSaver rules and other developments.
“I’m delighted to be able to bring this book up to date for 2017 and beyond, and hope the updated version proves as useful for a wide range of New Zealanders as its predecessors,” Mary Holm said.
‘Upside, Downside: a guide to risk for savers and investors’ is available free of charge, only as a downloadable PDF from the Reserve Bank website.
More information: Upside, Downside: a guide to risk for savers and investors (PDF 1.3MB)
| A RBNZ release || April 13, 2017 |||
Ξ Rise in Aluminium Prices Could Prompt Increases in Exports from China
Ξ Control risks as soon as they are identified
Ξ Augmented Reality Is Helping Factory Workers Become More Productive
Ξ McClay in talks to promote trade and investment with Malaysia
Ξ New edition of ‘Upside downside: a guide to risk for savers and investors’
We use linked employer-employee data from 2004–2012, combined with individual qualifications data from 1994–2012, to study how graduates with different skills fare in the labour market in the six years after studying.
We find that graduates experience improvements in earnings, and that they systematically move between jobs, industries and locations in a pattern that is consistent with their securing better job matches, particularly for high level STEM graduates.
We then estimate joint production function and wage equations to see how the skill composition of a firm’s employees correlates with productivity, and compare this with how the skill composition correlates with its wage bill.
Our results suggest that degree graduates make a growing positive contribution to production in the six years after graduation, with associated wage growth.
There is variation in relative productivity and wages across groups of graduates that differ by field of study and level of qualification.
Productivity and the Allocation of Skills (2 MB)
Productivity and the Allocation of Skill Executive Summary (1.2 MB)
| A Motu economic research release || April 13, 2017 |||
BNZ parent National Australia Bank is major force in introducing Islamic banking
Rugbyman Sonny Williams made it clear that he was no longer going to prance around pitches attired in kit promoting usury.
Rugby officials instantly kicked for touch. They heaped upon themselves sackcloth and ashes.
All Black branding sponsor Bank of New Zealand kept quiet.
It might have been viewed though as another publicity opportunity.
BNZ parent National Australia Bank is a major force in opening up Australasia to Islamic investors from the Gulf and Southeast Asia that seek to adhere to religious principles such as bans on interest and gambling.
If the BNZ had applied islamic banking principles in taking a share of ownership in the assets in which it had invested its clients’ money, it might still be owned in New Zealand.
Instead it charged interest on its loans. This was reinforced by seeking to impose penalties when the borrowers failed to pay their interest.
Interest and penalties are both taboo under islamic financing.
Islamic banking turns on joint risk-sharing as opposed to risk-transfer, which islamics describe as usury.
Islamic mortgages centre on the bank taking the responsibility of purchasing a property and then re-selling it to the buyer. This arrangement enables the buyer to repay the bank in installments in which process the bank receives also its profit.
This arrangement is designed to ensure that the bank takes its share of the risk, in this case owning the building, and recovering its profit, the installment payments, while shouldering its continued share of the risk.
The point being that at no stage is interest (usury) levied.
Nobody gets paid for renting out money. Islamic banking embraces risk-sharing as opposed to risk-transfer.
Islamic banking principles though continue to underpin Occidental merchant banking in which the bank takes on the risk of a venture by taking on ownership.
Money as money must not be used to make more money.
So why did islamic financing become sidelined by the Western model which centres on the diametric opposite practice of using money to make money via the charging of interest?
The problem was that the degree of concensus required to arrive at a common valuation of the asset to be financed and thus the proportion of risk involved began to become increasingly cumbersome in the face of the standardised model developed in the Occident.
In Europe charging a cut and dried level of interest regardless of the success of the asset or otherwise became so much easier to implement.
Curiously, the other two Abrahamist/book religions, Judaism and Christianity, have at one stage or another shaken from their shoes the dust of usury and tested instead the risk-balancing islamic system..
But the standardisation of administration and thus the efficiency inherent in the Western technique in the end compensated for its own drawback in which the advantages are seen to be weighted in favour of the lender, the bank.
It is said that Williams was converted in the French port of Toulon nearly 10 years ago while he was a local team member.
Toulon’s cathedral was once a mosque.
Pressure will now be being brought onto the athlete to lead by example.
The issue has so far been viewed exclusively in moral and/or sports gear outfitting terms.
It should also be seen, as perhaps Williams intends, as the start of a wider evaluation of islamic finance.
One such source of interest might be from those who have enlisted in class actions against banks over the bank infliction on them of penalties.
Islamic finance principals hold that penalties may not be levied.
Instead failures to perform to the original agreement require that donations be made to charities – and not to the bank.
| From The MSCNewsWire reporters' desk || Friday 14 April 2017 |||
Most people’s encounters with CNC machining happen either before factory installation—in advertisements or at tradeshows—or afterward, when the machine is already up and running.
Unless you take part in an installation personally, you don’t often get the opportunity to see all the intermediate steps: prepping the factory floor, unloading the machine, bringing it into the facility and getting it in place.
Fortunately, Norwegian drone manufacturer, GRIFF Aviation recently released a video documenting the company’s receipt and installation of a Mazak Integrex i-400 multi-tasking machine.
The Integrex i-400 combines the capabilities of a turning center and 5-axis machining center with the aim of enabling part production in a single setup. It weighs over 20 tons, which made the installation a challenge, to say the least.
According to GRIFF Aviation, using the Integrex i-400 will enable the company to produce a complete set of drone parts in 48 hours.
For more information, visit the websites for Mazak and GRIFF Aviation.
| An engineering.com release || April 12, 2017 |||
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