Items filtered by date: Tuesday, 02 December 2014

Statement by Reserve Bank Governor Graeme Wheeler:

The Reserve Bank today reduced the Official Cash Rate (OCR) by 25 basis points to 2.0 percent.

Global growth is below trend despite being supported by unprecedented levels of monetary stimulus. Significant surplus capacity remains across many economies and, along with low commodity prices, is suppressing global inflation. Some central banks have eased policy further since the June Monetary Policy Statement, and long-term interest rates are at record lows. The prospects for global growth and commodity prices remain uncertain. Political risks are also heightened.

Weak global conditions and low interest rates relative to New Zealand are placing upward pressure on the New Zealand dollar exchange rate. The trade-weighted exchange rate is significantly higher than assumed in the June Statement. The high exchange rate is adding further pressure to the export and import-competing sectors and, together with low global inflation, is causing negative inflation in the tradables sector. This makes it difficult for the Bank to meet its inflation objective. A decline in the exchange rate is needed.

Domestic growth is expected to remain supported by strong inward migration, construction activity, tourism, and accommodative monetary policy. However, low dairy prices are depressing incomes in the dairy sector and reducing farm spending and investment. High net immigration is supporting strong growth in labour supply and limiting wage pressure.

House price inflation remains excessive and has become more broad-based across the regions, adding to concerns about financial stability. The Bank is consulting on stronger macro-prudential measures that should help to mitigate financial system risks arising from the rapid escalation in house prices.

Headline inflation is being held below the target band by continuing negative tradables inflation. Annual CPI inflation is expected to weaken in the September quarter, reflecting lower fuel prices and cuts in ACC levies. Annual inflation is expected to rise from the December quarter, reflecting the policy stimulus to date, the strength of the domestic economy, reduced drag from tradables inflation, and rising non-tradables inflation. Although long-term inflation expectations are well-anchored at 2 percent, the sustained weakness in headline inflation risks further declines in inflation expectations.

Monetary policy will continue to be accommodative. Our current projections and assumptions indicate that further policy easing will be required to ensure that future inflation settles near the middle of the target range. We will continue to watch closely the emerging economic data.

View the Monetary Policy Statement: http://www.rbnz.govt.nz/monetary-policy/monetary-policy-statementWatch the Monetary Policy Statement media conference live-stream at NZT10am: http://www.rbnz.govt.nz/research-and-publications/webcasts

Why you can have confidence in Solar Gard the trusted name in window films

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A huge contract for hundreds of new trains described as the “biggest investment in the railways since the Victorian era” has secured 1,000 British engineering jobs. Operator Abellio has been awarded the East Anglia rail franchise and has ordered more than 1,000 new carriages and engines to run on the line as part of a £1.4bn investment.

The deal will see Bombardier build 660 carriages at its Derby factory, guaranteeing jobs there for the next decade.

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Two major motorway projects in Christchurch are a step closer following the New Zealand Transport Agency’s announcement today that the construction contracts have been let, Transport Minister Simon Bridges says.

The new Christchurch Northern Corridor and stage two of the Christchurch Southern Motorway are the final two projects to be built under the Government’s Roads of National Significance programme.

“The awarding of contracts to build these two Christchurch motorways represent a combined $435 million investment by the Government in Christchurch’s transport network.

“These are critical for improving travel times for commuters, and to support growth and development in Christchurch.”

Once the second stage is built, the Southern Motorway will have double the existing traffic capacity, providing better access between Christchurch and Rolleston.

Combined with the new Western Belfast Bypass (SH1), which is due to open early 2018, the Christchurch Northern Corridor will provide better and more predictable travel times in and out of Christchurch and along the existing routes – Main North Road and Marshland Road.

“As home to New Zealand’s second largest airport and second busiest export port, Christchurch plays a critical role in the economic development of the whole South Island,” Mr Bridges says.

“It is the transport gateway for tourism and business, making access to the city, its freight hubs and export markets critical for the economic success of the whole country.”

Construction for both projects is expected to get underway in October.

Once the rollout is completed, iPass customers will be able to use United Airlines’ Wi-Fi network across 700 aircraft.

iPass customers will be able to connect to the United Airlines Wi-Fi network, after it announced a partnership with the airline.

iPass, which enables subscribers to automatically connect to local hotspots, claims to be the largest Wi-Fi network in the world, with over 57 million hotspots across a wide variety of locations. The agreement means that many iPass customers flying on United will have a seamless Wi-Fi experience as they move from the terminal to the aircraft. The rollout will begin later this year and it will eventually be available on over 700 aircraft.

“United is dedicated to giving our customers the choice to be productive, relaxed or entertained in-flight,” said Scott Wilson, United’s Vice President of Merchandising and eCommerce. “Working with iPass enables us to further deliver on that promise for our customers, who will benefit from faster logins and greater ease of connection.”

“In an increasingly connected world, ubiquitous, reliable and secure connectivity has become a requirement for mobile professionals,” said iPass CEO Gary Griffiths.

“In-flight is a critical venue for keeping United Airlines and iPass customers connected, and United Airlines is an essential addition to our in-flight offering. We are delighted to enter into this partnership with United Airlines.”

A catalogue of Solar Gard products and their problem solving applications. Here you can view a selection of case studies showing the problem and the process that  Solar Gard and the client went through to come up with the solution.  For Solar Gard New Zealand product and installation information contact  Ross Eathorne, principal of SWF Distribution, based in Auckland. He can be reached on 09 441 0440 and by email on This email address is being protected from spambots. You need JavaScript enabled to view it.    www.solargard.co.nz

Solar Gard Case Study #24

New Zealand First understands that Lowe Corporation is undertaking due diligence on Silver Fern Farms’ Fairton (Ashburton) pelt house operation, that will sweeten its balance sheet ahead of a proposed Chinese takeover.

“Silver Fern Farms needs to come clean about what is happening with its Fairton operations,” says the Rt Hon Winston Peters.

“On the timeline set by the quislings who want to sell-out to the Chinese, SFF would already be controlled by China’s Shanghai Mailing, so it seems there is a plan and it is being implemented regardless.

“Fairton is obviously out in the cold because the Islington venison operations are bypassing it for Pareora in South Canterbury. In June, it was also announced that Pareora will take over bobby calf processing.

“There’s a clear agenda given new working conditions and pay were put to Pareora’s workers but not to Fairton’s. According to what we have heard, Lowe Corporation is looking to take over SFF assets similar to what’s happened in the North Island.

“Shareholders need to ask about the details of this deal. For any upfront cash, does it lock them into an exclusive supply contract period at a much higher per-pelt cost?

“Remember, if the Chinese get their way they’ll have a veto over all major business decisions. Higher processing costs will eat into any dividend that must be shared 50:50 with the Chinese, but they’ll also have final say over any dividend payout.

“There’s no free lunch in business unless you are a senior Silver Fern Farms manager, or on its board,” Mr Peters said.

An NZFirst Party news release, Wednesday 10 August 2016

"When it comes to infrared, “if you can’t see it, you can’t measure it”

This is a key point because whether we’re engineers checking bearings or electrical inspectors checking for bad connections, an inspection that is blind to a fault is worse than no inspection, as it can lead to a false sense of security.

To learn more on this subject and and what action you can take Homershams have prepared an article that you can reach here

Monday, August 8, 2016 — DUBAI, U.A.E., 8th August 2016: Emirates announced today an 11% capacity increase to Manchester with the deployment of a third daily A380 on the route. As of 1st January 2017, the replacement of the Boeing 777-300ER will mean that all Emirates flights to Manchester will be operated by the iconic double decker aircraft. The airline also unveiled plans to swap its current A380 service at Birmingham from the morning to the afternoon departure slot, in order to offer customers even more connections beyond Dubai to other Emirates A380 destinations – ensuring a seamless “A380 to A380” experience.

Thanks to the new aircraft deployment, Emirates will offer 2,198 additional weekly seats on the route, enabling further business and leisure travel between Dubai and Manchester. The airline also expects to break the symbolic mark of one million passengers carried on the route for this financial year, attesting to the growing demand in the market. With a total of 517 seats in a three-class cabin configuration, the aircraft features 14 private suites in First Class, 76 flat-bed seats in Business Class and 427 spacious seats in Economy Class.

First and Business Class passengers on the Emirates A380 can spend time during their flight relaxing or networking in the renowned Onboard Lounge on the upper deck of the aircraft. Those in First Class can enjoy the exclusive use of the on-board shower spas to refresh during flights. Premium customers are offered complimentary chauffeur drive to and from Manchester Airport, lounge access and priority check-in. Passengers in all classes will enjoy access to free Wi-Fi and over 2,500 channels of films, TV shows, music and games, through Emirates’ ice Digital Widescreen, which was recently named the World’s Best Inflight Entertainment at the prestigious Skytrax World Airline Awards.

Manchester has been an important destination for Emirates over the last 25 years and the second route launched into the UK after London Gatwick. With 21 weekly flights, Emirates enables convenient and seamless connections to popular destinations such as Bangkok, Perth, Singapore, Mumbai and across Emirates’ global network of over 150 destinations. Flight EK21 will depart from Dubai at 0300hrs and arrive in Manchester at 0700hrs. The return flight EK22 will depart from Manchester at 0845, with a 1945hrs arrival time in Dubai.

Emirates is also adjusting its A380 schedule to Birmingham in order to enable even more convenient A380 to A380 connections via its hub in Dubai. As of 1st January 2017, the A380 will operate flights EK37/38 instead of flights EK39/40 as it currently does. Leaving Birmingham at 2045hrs, EK38 arrives in Dubai at 0740hrs; while EK37 departs from Dubai at 1450hrs to arrive in Birmingham at 1845hrs. The A380 service to Birmingham will continue to operate with a two-class configuration aircraft, offering 615 seats in total. Passengers travelling to other destinations across the UK can also take advantage of Emirates’ codeshare agreement with FlyBe.

Emirates is the world’s largest operator of A380s with 81 currently in its fleet and a further 61 on order. To book your seat on the award-winning Emirates A380, visit www.emirates.com.