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Foreign Affairs Minister Murray McCully announced the completion of a third New Zealand-funded solar power system in Tokelau – meaning almost 100 per cent of the territory’s electricity needs are met through solar generation. “The Tokelau Renewable Energy Project is a world first. Tokelau’s three main atolls now have enough solar capacity, on average, to meet electricity needs,” McCully says. …

John Key will take the political temperature of the administration in 2013. Prime Minister John Key will now have to wait until 2013 to take the political temperature of the new Chinese Administration. The Key Government this week finally postponed plans to celebrate the 40th anniversary of diplomatic relations between New Zealand and China until next year. This is no …

GLOBAL MARKETS: US bond and equity market remained in shutdown mode as post-tropical cyclone Sandy slammed into New Jersey , with a reported 13-foot storm surge inundating low lying areas including New York ’s subway system (see below). In Europe , markets were quiet and rangy, although sentiment remained positive on solid earnings reports from BP and Deutsche Bank AG. …

Haier has got over the 90 per cent threshold to take full control of Fisher & Paykel Appliances. It will now compulsorily acquire remaining shares and delist the company. Haier New Zealand Investment’s offer for all the shares in Fisher & Payel Appliances went unconditional last week. NZ Inc earlier reported Haier  received the Overseas Investment Office ‘s consent to proceed with …

GLOBAL MARKETS: Our London colleagues report that it was all about Hurricane Sandy overnight  with the closure of many markets, including the bond market. With trading on US Treasuries closed and further bad headlines and data out of Europe , German bunds were very well supported, as were Australasian bonds. There is still no official opening time for the CME …

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 …