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Covid-19 has done little to dampen investment in New Zealand startups. A report from the business advisory firm, PwC, shows angel investment in the six months to June was down by just 5 percent on the year earlier, with $33.6 million pumped into fledgling firms. A total of 41 deals were completed over the period, […]
A 10 percent increase in the government’s GST returns this year is raising further questions about the huge uptake of the government’s $14 billion wage subsidy scheme. Latest figures show total net GST paid by businesses to Inland Revenue increased by $1.184bn for the first seven months of the year. There was a drop off […]
KiwiRail is working around the clock to improve the movement of freight to and from the country’s two biggest ports, Auckland and Tauranga, which are congested. The domestic supply chain is congested, with industrial action at Australian ports and disruption in other key markets, combined with the annual pre-Christmas freight rush and peak export season. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
