Commerce and Consumer Affairs Minister Jacqui Dean has today released the terms of reference for a review of the Copyright Act 1994. “Copyright affects how people create, distribute and access information,” Ms Dean says. “It is important we ensure our copyright regime is fit for purpose in today’s rapidly changing technological environment. “Launching a review now will also build on the insights of the Government’s Study of the role of copyright and designs in the creative sector, completed last year. “The Study highlighted a range of opportunities and challenges faced by users, creators and owners of digital content. This review…

Revenue Minister Judith Collins has today signed a new tax protocol between New Zealand and Hong Kong. The protocol updates the existing double tax agreement between New Zealand and Hong Kong, to allow full exchange of information on tax matters between the two jurisdictions. Once in force, the updated double tax treaty will require both Hong Kong and New Zealand to automatically exchange tax information with each other, in line with the G20 and OECD Automatic Exchange of Information global standard. “This will allow New Zealand to meet its international obligations to complete the first automatic exchange of information by…

Palmerston North City is the quintessential university town. It is the second youngest city in New Zealand per capita with an average age of 33, due to its large student population of nearly 20,000 tertiary students, Grant Smith, the Mayor of Palmerston North City, tells GovInsider. The city has plans to attract young people not just to study, but to live in the city. “We’ll grow by another 20-30,000 people in the next twenty years,” says Smith. For a city with a population of 90,000, that is a substantial 30% increase. But Smith notes that the council “[needs] to be…

Gull NZ will continue business as usual despite Caltex’s acquisition. Australian fuel retailer Caltex is all set to take over New Zealand fuel retail chain Gull, as part of its plans to expand its retail business. The deal, worth $325 million, is now expected to be completed by July 3, after it received regulatory approval from the New Zealand Overseas Investment Office. Under the terms of an agreement entered into in December 2016, the transaction will result in Caltex acquiring Gull’s Mount Maunganui import fuel terminal and retail operating assets. According to Caltex, the acquisition will optimise its infrastructure position,…

Early stage technology businesses in the regions can expect an easier pathway to support, thanks to the expansion of Callaghan Innovation’s founder incubators, says Science and Innovation Minister Paul Goldsmith. Founder incubators are, as the name suggests, centred around a start-up founder, and bring groups of start-ups together, sometimes in a shared working space, to provide services to help with technology and market validation, business planning and investment preparation, among other support. “Following an extensive tender process, Callaghan Innovation has awarded six providers one and two-year contracts for founder incubator services, beginning 1 July 2017,” Mr Goldsmith says. The six…

Statement by Reserve Bank Governor Graeme Wheeler: The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 1.75 percent. Global economic growth has increased and become more broad-based. However, major challenges remain with on-going surplus capacity and extensive political uncertainty. Headline inflation has increased over the past year in several countries, but moderated recently with the fall in energy prices. Core inflation and long-term bond yields remain low. Monetary policy is expected to remain stimulatory in the advanced economies, but less so going forward. The trade-weighted exchange rate has increased by around 3 percent since May, partly in…

Rockwell Automation has appointed Scott Wooldridge as Managing Director for Australia and New Zealand. In the role, Wooldridge will oversee sales and business operations in Australia and New Zealand and be responsible for the company’s Growth and Performance Strategy, involving the overarching responsibility for people and strategy in relation to sales, service, delivery, projects and customer care. “I’m looking forward to working closely with our key distributors, system integrators, end users and OEMs to make sure they continue to be well supported with industry leading power, automation and data management solutions and services,” said Wooldridge. “These Rockwell Automation solutions provide…

A leading New Zealand tech businessman and a former refugee, Mitchell Pham, will deliver a speech in Auckland tonight as part of World Refugee Day. Pham runs the Augen Software Group and is chair of NZTech and Fintech NZ. He is a trustee of the Auckland Refugee Family Trust (ARFT) which has helped settle 116 people in Auckland over the last five years. The families have come from Afghanistan, Congo, Eritrea, Ethiopia, Iraq, Myanmar, Pakistan, Somalia and Uganda. Pham will be a speaker at the ARFT and New Zealand Red Cross art exhibition and charity fundraising event in Devonport, Auckland,…

Listed companies and other financial markets businesses will now have alternative options for sending annual reports, saving them money and time, says Commerce and Consumer Affairs Minister Jacqui Dean. “Cabinet has agreed to changes to the Financial Markets Conduct Regulations 2014 which will allow ‘FMC reporting entities’ to reduce the number of annual reports they send,” Ms Dean says. “This will result in time and cost savings, and a reduction in the amount of paper required. “Currently companies are required to send to every shareholder a hardcopy of their annual report or a notice asking if the shareholder would like…

The Commerce Commission has published one-page summaries of key performance measures for each of New Zealand’s 29 electricity lines companies. The summaries are designed to promote a better understanding of each lines company’s performance by providing high-level statistics such as profitability, capital and operating expenditure, asset condition, revenue and network reliability. Commissioner Dr Stephen Gale said that the Commission has pulled together the data to make it easily accessible for industry, Government agencies and consumers, and to enable comparison across lines companies. The statistics are sourced from more detailed public disclosures. “Electricity companies reach every New Zealand household and business…

The government's principal means of evaluating the success of Callaghan Innovation, the agency tasked with accelerating the commercialisation of innovation, is how much businesses are spending on research and development, Science and Innovation Minister Paul Goldsmith told Parliament's education and science select committee. So far, it's falling short of its target. This year's budget included a $373 million increase in spending for science and innovation in a bid to help diversify the economy support more jobs and higher wages, including a $74.6 million boost for Callaghan Innovation R&D grants. In response to questions from Labour's research and innovation spokeswoman Megan…