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Biggest move in 25 years for students

Students will repay taxpayers for their tertiary education through “time worked” under a New Zealand First proposal, says Education Spokesperson Tracey Martin. “Students would still have a debt to their country but we would shift this to a debt of their time and skills – they will use their talents to repay their country’s investment in their education. “A year worked in New Zealand will reduce the skill debt by a year. “It’s time to change the mindset from a financial debt to a skill debt to your country. “We cannot continue to load students up with financial debt. It…

Kiwi car fans shift gear and buy global

Vehicles, parts, and accessories, including more than 260,000 cars, accounted for 10 percent of our $67 billion of imports. This was the second-largest category of goods imports for the June 2016 year. Vehicles were our largest goods import from Japan, the European Union (EU), and Australia, and our third-largest from the United States (US). We also imported vehicles, parts and accessories from some smaller trading partners. In the June 2016 year, vehicles were our largest import from Thailand, our second-largest from Korea, and our fifth-largest import from Taiwan. “Vehicle imports from Thailand have tripled since 2012, and we now import…

The Structural Engineering Society (SESOC) says homeowners should not become unnecessarily concerned about the ductility of steel mesh in their houses.

SESCOC President Paul Campbell says SESOC has been prompted to make these comments following reports in the media that a law firm is proposing a class action in relation to mesh that may not meet The New Zealand Standard. Before changes to the Building Code following the Canterbury earthquakes, many residential slabs were unreinforced. Even if slabs were reinforced, they generally used mesh that was not very ductile. Ductility, or stretch, is a critical steel property for many commercial applications, particularly multi-storey buildings. Mr Campbell says: “Obviously engineers are concerned if mesh that is below standard has been circulated and…

Finalists announced for 2016 NZI Sustainable Business Network Awards

Judges for the 2016 NZI Sustainable Business Network Awards have announced the line-up of finalists. CEO of the Sustainable Business Network (SBN) Rachel Brown says these organisations and individuals are leading the transformation to a more sustainable New Zealand. “These Awards are unique. They recognise outstanding achievement in making New Zealand a more sustainable nation. “Together we can restore New Zealand’s landscapes, oceans and waterways and we can tackle this nation’s social issues. Those leading on this are pioneering new forms of business success. In my book they all deserve to be New Zealander of the year. It can feel…

Consistent approach to regulations and supervision has promoted robust banking system

The Reserve Bank says that its consistent principles and approach to banking supervision have helped create a strong, robust banking system. “Our supervisory philosophy is to implement cost-effective regulations to mitigate market failures and thereby promote a sound and efficient financial sector for New Zealand,” said Head of Prudential Supervision Toby Fiennes in a speech today to the New Zealand Bankers’ Association. “One market failure we focus on is externalities – the costs to wider society that financial institutions have little incentive to take account of when they make commercial decisions. An example would be a financial institution failing in…

Increasingly Confident American Consumers Lap up New Zealand Exports

Recent Rise in US Consumer Confidence suggests US could be a growing market for New Zealand exports, according to ANZ Bank. The cheery US consumer is as likely to be toasting his or her good fortune with a glass of New Zealand sauvignon blanc as a goblet of Californian chardonnay, according to research from ANZ bank, a leading antipodean lender. A growing taste for lamb and eating out at foreign restaurants which use less popular cuts of mutton and lamb, may also characterise the average Americans' changing tastes and habits, suggests the report, which highlights the growing popularity of New…

C.H. Robinson Expands Global Network, Acquires APC Logistics

MINNEAPOLIS--(BUSINESS WIRE)--C.H. Robinson continues to grow its global presence and today announced it has entered into a definitive agreement to acquire APC Logistics, a leading provider of freight forwarding and customs brokerage services in Australia and New Zealand. The two companies have had a long-standing exclusive agent relationship for business in Australia and New Zealand. The agreement is subject to certain customary closing conditions, including regulatory approval. “This acquisition allows us to add great talent to our Global Forwarding team and advances the strategy to expand our global network,” said John Wiehoff, Chairman and Chief Executive Officer of C.H. Robinson.…

Action and aroha needed to reverse creeping “ghettoization” of Auckland

An increasingly divided Auckland of “ghettos and gated communities” is what lies ahead if the city and nation fail to tackle the widening gap between rich and poor. Solutions must come from all quarters – local and central government, iwi, community grassroots, business and philanthropy – and start with empathy, caring, and aroha. Stark warnings and tangible hopes were delivered by speakers in a panel discussion last night on how to make Auckland more inclusive. The event was the first of three in the Ballot Box series, organised by the University of Auckland Business School to inform debate about top…

Airways NZ innovation to address US air traffic controller hiring surge

Air traffic controllers (ATCs) in the United States will be recruited using rigorous pre-screening assessments as Federal Aviation Administration (FAA) steps up a major recruitment drive. Airways International Ltd has won a significant contract with the FAA that will see SureSelect used to identify ATC candidates who have the highest chance of success through training. SureSelect is an industry leading, ATC-specific-recruitment and selection system designed by Airways International Ltd, a global ATC training provider and subsidiary of Airways New Zealand. ATCs are a unique group – it is estimated that only 2-3% of the general population has the right combination…

PolySi® Lubricants Adds Australia and New Zealand Distribution

Sanford, NC - PolySi® Lubricants, a division of PolySi® Technologies, increases its global presence with the addition of Superior Lubricants of Australia as a distributor. Due to growing demand in Australia and New Zealand for silicone and synthetic lubricants, PolySi® Lubricants has added Superior Lubricants to meet local market needs. “PolySi® Lubricants is excited to add Superior Lubricants to its expansive distribution network, enabling us to create custom lubricant solutions that best meet the needs of customers located in Australia and New Zealand”, says CEO Ann Leuth. Superior Lubricants is an independent distributor of industrial, food grade and specialty lubricants.…

New Zealand First to introduce a new bill – the Forests (Realising Forestry’s Potential) Amendment Bill.

Extracts from speech at the NZ Institute of Forestry conference, Dunedin10.20am, 31 August, 2016 Bill will revitalise forestry sector for New Zealand’s long term gain Forestry is New Zealand’s third largest export earner making 3.2 per cent of GD.But it is heading for a crisis.New Zealand’s forests are being cleaned out mostly by foreign owners.Eight of the top 10 forest companies are foreign controlled.One of our greatest former state assets – trees – are being plundered and felled too early.We have no control, no laws and no careful management of one of our greatest resources.The government treats our forests as…

Bulletin article traces history of prudential supervision

A Bulletin article published today provides a short history of the Reserve Bank’s prudential supervisory role, identifying a number of distinct shifts in the prudential supervision regime during the Reserve Bank’s history. The article pays particular attention to the establishment of New Zealand’s first prudential supervision regime in 1986, which laid the foundations for a number of key features that have endured over time, including: a systemic focus; emphasis on failure management; absence of objectives tied to depositor protection; and three pillars of market discipline, self-discipline, and regulatory discipline. The article also reflects the Reserve Bank’s continued evolution and use…