The NZ Government issued its response to the Productivity Commission’s report on housing affordability. “High house prices matter because many New Zealanders spend a large portion of their incomes on housing and that has helped fuel household debt and contribute to damaging imbalances in the economy,” Finance Minister Bill English says. “In particular, high housing debt diverts money from more …

Foreign Affairs Minister Murray McCully is off to  Papua New Guinea  to meet members of the new government, including Prime Minister Peter O’Neill and Foreign Minister Rimbink Pato. The meetings will include discussions on Asia-Pacific regional issues, trade and investment links, aid, and political and economic developments in Papua New Guinea and Bougainville. McCully will travel to the Highlands region …

For the first time NZ Defence Force health personnel are joining their counterparts from the People’s Liberation Army China and the Australian Defence Force to build linkages around humanitarian assistance and disaster relief operations. Seven Defence Force personnel are participating in Exercise Cooperation Spirit 2012, which is being hosted by the Australian Defence Force (ADF) from 29 October to 2 …

The Fonterra Shareholders’ Fund will raise as much as $525 million selling shares in an indicative price range of $4.60 to $5.50 apiece, giving outside investors exposure to up to 7 percent of the dairy cooperative’s equity, offer documents show. The final price will be set by a bookbuild among institutions and NZX firms on about Nov. 27. Fonterra unveiled …

Australian Minister of Agriculture, Fisheries and Forestry Hon Joe Ludwig will visit New Zealand for bilateral and primary industries meetings over the next two days. Ludwig, who will be joined by Primary Industries Ministers from NSW, Victoria, Queensland and the Northern Territory, will meet with NZ Primary Industries Minister David Carter. “This visit is a valuable opportunity to discuss two-way …

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.5 percent in his debut review, and is keeping close tabs on the level of inflation after it dropped below the bank’s target band in the September quarter. Wheeler reintroduced the caveat that the record-low setting for the benchmark rate remains appropriate “for now” and brought inflation back in …

Finance Minister Bill English has welcomed strong investor demand today for the Government’s first issue of September 2025 inflation-indexed bonds. In the first issue of inflation-indexed bonds by the New Zealand Government since 1999, the Debt Management Office today issued $2.5 billion of the 2 per cent coupon bonds. The deal was heavily oversubscribed, with bids in excess of $4 …

State Services Minister Dr Jonathan Coleman and Women’s Affairs Minister Jo Goodhew welcomed the release of a new survey showing positive progress for women in the public sector. The State Services Commission has today released its 2012 Human Resources Capability Survey which has recorded in increase in the number of women appointed to senior leadership roles. At just over 42 …

Zespri Chairman John Loughlin will stand down as chairman and a director early next year. Loughlin joined the Zespri Board as one of three independent directors in 2002 (the other five directors are grower-directors) assuming the chairmanship in August 2008. |The  Zespri Board will now undertake a search for an independent director with the necessary commercial and financial skills and …

Haier New Zealand Investment Company Ltd (Haier) has received necessary approvals from China’s National Development and Reform Commission (NDRC) to proceed with its offer to acquire all the shares in Fisher & Paykel Appliances Holdings Ltd. The offer remains subject to other regulatory approvals, including from the New Zealand Overseas Investment Office. About Haier Group Haier Group is a global …