Friday , September 20 2019
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New Zealand

OPI’s White sentenced to 250 hours community work, A$100,000 penalty

By Suze Metherell Sept. 23 (BusinessDesk) – Craig White, a former director of OPI Pacific Finance, has been sentenced to 250 hours of community work and A$100,000 in reparations after pleading guilty to two Securities Act charges laid by the Financial Markets Authority. White pleaded guilty on Friday to two charges under the Securities Act including distributing an advertisement and signing off …

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Wynyard Group’s security software used to help catch global wildlife traffickers

By Fiona Rotherham Sept. 23 (BusinessDesk) – Wynyard Group, the security software firm, says its software is being used to help track down global wildlife trafficking – the fourth-largest illegal trade in the world after drugs, humans and weapons. Auckland-based Wynyard’s investigative case management software is being used to help the recently-launched, Dutch lottery-funded Wildlife Justice Commission chase organised criminals operating across many …

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NZ ‘holding our ground’ in TPP dairy talks, says Groser

By Pattrick Smellie Sept. 23 (BusinessDesk) – New Zealand negotiators are “holding our ground” in talks to conclude the Trans-Pacific Partnership trade and investment treaty with some improved access expected for dairy exports to the highly protected markets of North America and Japan, says Trade Minister Tim Groser. He acknowledged that comments from Prime Minister John Key on Monday, that whatever deal was achieved …

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China’s Guoxin International commits US$2 bln to Christchurch rebuild

By Pattrick Smellie Sept. 23 (BusinessDesk) – Christchurch City Council is rolling out the welcome mat for Guoxin International Co, one of China’s largest infrastructure development companies, which is committing to raise a US$2 billion fund for investment projects in the city as it enters the mature phase of its post-earthquake reconstruction. While the letter of cooperation and friendship signed between Guoxin …

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Key gives guarded view on TPP dairy deal prospects

By Pattrick Smellie Sept. 21 (BusinessDesk) – Prime Minister John Key has given a guarded view of New Zealand’s chance of striking the “high quality” deal it has always sought in the 12 nation Trans-Pacific Partnership trade and investment negotiations, saying that “at least it will be the very best we can do.” International reports suggest a final ministerial meeting will …

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Synlait annual profit slumps 46% as lactoferrin sales struggle, cuts forecast payout

By Paul McBeth Sept. 22 (BusinessDesk) – Synlait Milk, which counts China’s Bright Dairy & Food as its biggest shareholder, posted a 46 percent drop in annual profit as lactoferrin sales missed expectations and it kept milk payments high enough to ensure supply. Synlait cut its payout forecast for the current season. Net profit dropped to $10.6 million, or 7.21 cents per share, …

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Rugby World Cup puts CSx’s concussion software on the try line

By Fiona Rotherham Sept. 22 (BusinessDesk) – Concussion management software developed by Kiwi technology company CSx has been put to the test by teams in Rugby World Cup 2015 as a UK medical chief calls for rule changes to protect players from head injuries. The Auckland-based company, founded by former sports therapist Ed Lodge and bankrolled by Blues co-owner Murray …

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SkyCity get Auckland Council resource consent for convention centre

By Jonathan Underhill Sept. 18 (BusinessDesk) – SkyCity Entertainment Group, New Zealand’s only listed casino company, said it has gained resource consent approval for the convention centre. The company gets some $458 million of gaming concessions as a result of agreeing to build the convention centre in a deal with the government. In May, SkyCity lifted the minimum it will invest in the development to $430 million …

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Buller Electricity to team up with Pioneer Generation in Pulse takeover bid

By Paul McBeth Sept. 18 (BusinessDesk) – Lines companies Buller Electricity and Pioneer Generation plan to mount a takeover of electricity retailer Pulse Energy, though haven’t settled on an offer price yet. Pulse Energy was told by its 56 percent shareholder Buller Electricity that the West Coast-based lines company will team up with Otago-based Pioneer to buy the remaining Pulse …

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