Monday , June 18 2018
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O’Sullivan: McCully’s controversial Saudi deal lacked control


Murray McCully’s controversial $10 million deal to buyoff an aggrieved Saudi Arabian investor and his Government and remove a block to a free trade deal bypassed the normal Government channels. It’s arguable that the Ministry of Foreign Affairs and Trade (Mfat) has simply been used as a slush fund. But …

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O’Sullivan: Saudi deal: bribe or facilitation payment?


Auditor-General Lyn Provost must investigate Murray McCully’s secret Saudi deal, which is attracting far too much adverse comment on the international stage to be easily swept under the carpet. Cabinet documents do not shed sufficient light on why McCully spearheaded an initiative which at its kindest interpretation resulted in a …

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NZ posts bigger-than-expected trade surplus in March


New Zealand recorded a bigger-than-expected trade surplus in March, as exports fell less than forecast. Statistics New Zealand said the trade surplus was $631 million in March, bigger than the $341 million expected in a Reuters poll of economists and compared with a February surplus of $83 million. Excluding the …

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Minister opens NZ primary sector Shanghai office

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Economic Development Minister Steven Joyce has officially opened the Shanghai office of Primary Collaboration New Zealand (PCNZ) – a coalition of New Zealand food and beverage companies pooling their expertise in China. Joyce, who is currently visiting Shanghai to foster business ties between New Zealand and China, says the new …

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Fonterra buys 18.8% of China’s Beingmate for about $755 million


Fonterra Cooperative Group, the world’s largest dairy exporter, has acquired 18.8 percent of Shenzen-listed Beingmate Baby & Child Food, falling short of the stake of up to 20 percent it was seeking in a partial tender offer. The transaction, valued at 3,464 million RMB (NZ$755 million) is well above the $615 …

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