A new industrial manufacturing facility has won the Supreme Award in the prestigious Property Council New Zealand Rider Levett Bucknall Property Industry Awards 2017.
The Sistema manufacturing facility received the Rider Levett Bucknall Supreme Award, after being awarded the ‘Best in Category’ for the Yardi – Industrial Property Award at the annual black-tie gala dinner at Spark Arena in Auckland on 16 June.
The state-of-the-art 55,000-square meter manufacturing facility, located in Mangere, Auckland, is also home to Sistema’s international headquarters.
Featuring a strong operational focus, the buildings design was a stand-out for Chief Judge Andrew Evans due to the attention given to all aspects of work flow, future flexibility, divisibility, and expansion.
“The functionality of the design ensures a smooth and logical flow of materials, people, and resources through the production process, facilitating the efficient operation of a world-class business,” he said.
These standout attributes were also recognised by Newell Brands, a US Fortune 500 company that recently acquired the Sistema plastics business, and in the process signed a long-term lease for the continued occupation of the building.
Mr Evans added, “The project is world class and demonstrated a high level of consultation and collaboration between the design teams, builder, and occupier.
“I am also delighted to see the Supreme Award go to an industrial development that is pushing the boundaries in design and functionality, delivering the most significant industrial building in New Zealand.
“This building displays the innovation and attitude that has made Sistema Plastics a world leader.”
Over 1,500 property professionals from around New Zealand attended the Rider Levett Bucknall Property Industry Awards.
A former New Zealand trade negotiator has been appointed the Government's key adviser for securing trade deals with countries outside the European Union.
Crawford Falconer, who has previously described Brexit as a "enormous opportunity", will work with International Trade Secretary Liam Fox to draw up deals ready to go as the UK leaves the EU.
A former vice minister for international trade and foreign affairs and ambassador to the World Trade Organisation, the academic is currently a trade professor at Lincoln University.
It comes as Mr Fox prepares to visit Washington on Monday for talks about future trade links between the UK and the US after Brexit.
He said: "Britain is a great global trading nation and, as we leave the EU, we will embrace the world and seek to build an outward-looking Britain that is confident on the world stage.
"We're attracting the very best global talent to the Department for International Trade and as an international economic department Crawford brings extensive experience of trade negotiation and foreign affairs and will play a key leadership role, with ministers and the first permanent secretary as we further build our trade capability."
The government has faced criticism that it does not have the skills and manpower needed to carry out complex deals for the country's future after Brexit.
In his role as chief trade negotiation adviser and second permanent secretary at the Department for International Trade (DIT), Mr Falconer will be responsible for boosting the negotiating skills in the team as well as developing free trade agreements and market access deals outside the EU.
Officials said more than 3,000 people now work for the department.
Speaking earlier this year at the Legatum Institute think tank, Mr Falconer said Brexit was a "potential game changer" and countries like Australia, New Zealand and Mexico would want to work with the UK.
"It's a bit like somebody who has woken up after a long sleep. They don't quite realise that they are the sleeping giant," he said.
"I think there is a dawning realisation that there's a huge strategic opportunity."
Speaking about his appointment, Mr Falconer, who holds dual New Zealand/ British nationality, said: "As the UK prepares to leave the EU, it will be top of the Government's agenda to turn the enormous new opportunities opening up for the UK into win-win agreements with our trading partners around the globe.
"That will bring tangible new gains to us at home, and it will bring gains to those trading partners that join us.
"As the world's fifth largest economic power, the UK will bring much needed leadership to the international trade agenda. I am absolutely delighted to join this hugely exciting new journey."
| An AOL release || June 17, 2017 |||
An article published today in the Reserve Bank Bulletin provides an overview of the importance of benchmarks, which are used to price, value and evaluate financial market transactions.
The Bulletin article notes the need for financial market benchmarks to be reliably measured, transparent and supported by strong governance arrangements. The article also explores the way that regulators worldwide are implementing reforms for interest rate benchmarking systems and processes. This follows the erosion in trust in benchmarks that occurred after the LIBOR scandal, where a number of international banks in London were found to have manipulated the LIBOR benchmark interest rates.
Significant work has been undertaken in recent years to improve the reliability, transparency, and governance in New Zealand’s key short-term interest rate benchmark, known as BKBM. The New Zealand Financial Markets Association has carried out this work and has generally brought BKBM in line with guiding principles published by the International Organization of Securities Commissions and Financial Stability Board.
The Bulletin article notes that significant declines in volumes traded during the BKBM rate set in recent years have raised concerns about the reliability of the BKBM as a benchmark rate. The Bulletin article discusses this trend as well as potential solutions for a recovery in the efficiency and liquidity of the New Zealand bank bill market.
More information: Developments in financial market benchmarks
| A RBNZ release || June 16, 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