National News
People urged to seek help early if struggling financially due to Covid-19
People are being urged to seek financial help as soon as they find themselves struggling as a result of the Covid-19 pandemic. The Financial Services Complaints service, funded by registered financial service providers, expects complaints to increase by as much as 30 percent once government and lender support packages come to an end. “We know […]
Tourism industry in talks on rebuilding from Covid impact
The tourism industry is facing a multi-billion dollar loss of revenue after borders closed and international travel screeched to a halt. Earlier this year, New Zealand experienced its first day of no overseas visitors in decades when hundreds of flights would usually arrive and depart daily. Industry leaders are meeting in Wellington today to discuss […]
Wealth tax predicted as anger over inequality ‘reaches boiling point’
Rising public anger about growing inequality is likely to force the imposition of a capital gains or wealth tax in the next few years, according to the chief economist of Westpac. In its latest monthly report the bank’s economists said the economy had done better than expected as it absorbed the shock of a global […]
Solid lift in profit for Port of Napier
The Port of Napier has weathered the impact of the Covid-19 pandemic and a fall in cargo volumes with a solid lift in profit. The company has reported a profit of $22 million for the year ended September compared with a forecast of $20m in last year’s share float documents and an actual profit of […]
Foreign investment fell by 70 percent in first 6 months of 2020
Local private equity firms may benefit from a closed border, as it restricts foreign competition from the New Zealand investment market. A survey of foreign investors by the law firm Simpson Grierson shows nearly three-quarters of respondents either delayed or cancelled their plans to invest in New Zealand due to Covid-19. “With so much uncertainty […]
Government facial recognition tech deal offers wide access
The government has done a deal over facial recognition technology that throws access to it wide open. The Department of Internal Affairs has signed a master agreement with a leading global biometrics tech supplier that just about any organisation, public or private, can be allowed to join. Documents released under the Official Information Act show […]
KiwiSaver funds used to back local tech start-ups
Kiwi Wealth KiwiSaver members will be helping back New Zealand tech start-ups through a $54 million investment from the fund into a venture capitalist company. The Movac Fund 5 is a $250m fund that would back New Zealand tech start-ups and growth companies. The investment was the first time a KiwiSaver provider had backed such […]
Tech sector revenue increases by almost $1b
New Zealand’s tech sector has defied the economic downturn unleashed by the Covid-19 pandemic with strong revenue, export, labour and investment growth. The annual technology industry report known as TIN, indicates sector revenue rose by nearly a billion dollars, or by 8.9 percent this year over last to $12.7b. Financial technology (Fintech) was leading the […]
Tech sector revenue increases by almost $1b
New Zealand’s tech sector has defied the economic downturn unleashed by the Covid-19 pandemic with strong revenue, export, labour and investment growth. The annual technology industry report known as TIN, indicates sector revenue rose by nearly a billion dollars, or by 8.9 percent this year over last to $12.7b. Financial technology (Fintech) was leading the […]
Wairoa-Napier log trains get back on track
Log trains will return to the Wairoa-Napier line from today. Services were temporarily suspended earlier this year due to Covid-19’s impact on the forestry industry. There would be two return trains each weekend with roughly 24 wagons, the equivalent of 24 truckloads of logs, KiwiRail chief operating officer Todd Moyle said. There were significant numbers […]