Sunday , May 26 2019
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New Zealand

Kim Dotcom et al seek further delay to extradition

Kim Dotcom and his fellow Megaupload co-accused have again sought to delay their extradition fight with the US, claiming natural justice has been denied as they’re unable to pay for expert witnesses outside New Zealand. In the Court of Appeal Justices John Wild, John Fogarty and Jillian Mallon reserved their decision, while Justice Wild said they were “presented with an impossible task” given the size of the submissions …

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Shake-up ahead for mobile and online content providers in major NZ telecoms review

New Zealand’s government has commenced the biggest review of the telecommunications and broadcasting markets since the advent of the internet with today’s release by Communications and Broadcasting Minister Amy Adams of a discussion paper for public submissions. “Regulating Telecommunications for the Future” kicks off a full review of the Telecommunications Act 2001 to reflect the fact that current regulations were created in an …

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Ossis targets UK market to expand sales of 3D titanium implants

Ossis Ltd, which uses 3D printing technology to custom design titanium implants for patients with severely damaged bones and joints, is expanding outside of Australasia to the UK. The Christchurch-based company this year doubled monthly sales of the implants to four or five across New Zealand and Australia. It’s now in talks with a UK distributor to enter that market in the next few months, giving it a springboard to …

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NZ wool trades at record high amid tight supply

By Tina Morrison Sept. 4 (BusinessDesk) – New Zealand wool is trading at record high prices, pushed up by strong demand and limited supply, though the outlook is murky. The price for clean 29-micron wool changed hands at a record $10.45 a kilogram at yesterday’s North Island auction, up from $9.95/kg at the previous North Island auction on Aug. 13, according to …

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Inland Revenue seeks feedback on withholding tax on foreign property buyers

The Inland Revenue Department is proposing to introduce a withholding tax on foreign buyers of residential property from July next year as part of the government’s plans to crackdown on speculators. The tax department is proposing to implement the tax, which would require an amount to be withheld on the sale of residential property, to support the introduction of the …

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BNZ grows worried about ‘near-recession’ as Key talks economy up

The Bank of New Zealand is increasingly concerned the economy is grinding to a halt following today’s confirmation in the ANZ Bank Business Outlook survey of slumping business confidence. “As each day passes, the likelihood of our alternative scenario, of an economy stumbling to near-recession, increases,” said head of research Stephen Toplis in analysis released at much the same time as …

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NZ dollar falls as business confidence sinks to 6-year low, US jobs data eyed

The New Zealand dollar fell after figures showed business confidence sank to a six-year low this month, stoking speculation the Reserve Bank will be prepared to make deeper cuts to interest rates to revive an economy showing little sign of accelerating inflation. The kiwi fell to 64.21 US cents as at 5pm, in Wellington, from 64.53 cents at the New York close on …

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