New Zealand

The Commerce Commission is consulting with the telecommunications industry over what price Chorus can charge rivals to access its copper telephone lines, suggesting a review process could be accelerated and the final price backdated. The Commerce Commission is reviewing the price by building a full cost model on Chorus’s unbundled local loop, which lets retailers rent the lines for voice …

The Reserve Bank’s inflation target is crucial if it wants the private sector to believe its projected interest rate path, and means the monetary authority needs consistent communications, deputy governor Geoff Bascand says. The central bank is mandated to provide a type of forward guidance in its policy statements, which is typically the future track of the 90-day bank bill …

Alexander Speirs visits Chinese telecommunications giant Huawei at its Shenzhen HQ and sits down with VP Scott Sykes to discuss the company and its increasing role in New Zealand’s communications ecosystem. “We feel very welcome in New Zealand.” Sykes tells me from the outset. “The New Zealand Government and John Key have been very progressive in embracing communications technology and …

The National-led government has lost its parliamentary majority to pass reforms to the Resource Management Act, with the United Future and Maori parties announcing this morning they will not vote for changes that undermine environmental protections. While both parties support reforms to speed up the resource consenting processes, both believe that proposals to rewrite two fundamental sections dealing with environmental …

Port of Tauranga, the country’s biggest export port, has reported a record profit bang on expectations as it readies a dredging project to prepare for larger ships. Net profit of $112.1 million in the year ended June 30 was up 52 percent on the previous year and in line with First NZ Capital’s expectation of $112.9 million. After a $38.2 …

Neill Williams, a key manager of failed Five Star Consumer Finance, will spend longer in jail after appearing in the Auckland High Court this morning for final sentencing in the long-running case. The 78-year-old is currently serving three years, seven months’ imprisonment on charges previously laid by the Financial Markets Authority. Today’s sentencing on charges laid by the Serious Fraud …

David Ross, the Ponzi-accused former manager of Ross Asset Management, appeared in the District Court in Wellington this morning for substantive hearings on eight Crimes and Financial Advisers Act charges. He was remanded until Aug. 29. All aspects of today’s hearing were supressed. Ross faces charges relating to $384.8 million of assets recorded in the accounts of a Ross vehicle, …

By Pam Graham Rakon, a maker of crystal oscillators used in smart phones and navigation systems, will liquidate its two-year-old Chinese factory if a plan to sell it does not go through. iphone sms spy Shenzhen Stock Exchange-listed ZheJiang East Crystal Electronic Co is buying 80 percent of Rakon Crystal (Chengdu) Co (RCC) for $US18.8 million. Rakon, which will retain …

By Pam Graham The amalgamation of councils in Auckland has worked so well it should be a template for the rest of New Zealand, the lobby group for infrastructure companies says. New Zealand Council for Infrastructure Development (NZCID) chief executive Stephen Selwood pushed for reform of councils in regions at the Local Government New Zealand conference in July and he …

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