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Shanghai Daily reports officials have found no dairy products with the potentially harmful chemical residue that was detected in some New Zealand dairy products. Shanghai Food Safety Office director Yan Zuqiang said the city’s food safety watchdog has done on-site inspections at local dairy product manufacturing lines, especially for products for children, and all the products have been tested as safe. The …

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Kathmandu, the outdoor equipment retail chain, boosted first-half profit by as much as 75 percent on the strength of sales across the Tasman. Net profit was between $9.5 million and $10.5 million in the six months ended Jan. 27, compared to $6 million a year earlier, the retailer said in a statement. That came from a 13 percent increase in …

The government has launched the cornerstone of its policy to encourage new, high value, high-tech products and services across science, engineering, design and technology disciplines. To be known as Callaghan Innovation, the institution brings together the former crown research institute Industrial Research Ltd, the business investments team at the Ministry for Business, Innovation and Employment, the Auckland Foodbowl initiative, and …

By Pam Graham Reserve Bank governor Graeme Wheeler has tax and regulation reforms on his wish-list to foster local savings and investment, saying they would help improve the nation’s economy. In his first public speech of the year, Wheeler told the Canterbury Employers’ Chamber of Commerce the first way to lift the country’s economic performance is through raising savings and …

The impact of the detection of chemical residues in dairy products originating from New Zealand found in Chinese market is still spreading as consumers turn to European brands. help writing an essay Peoples Daily – which is the Chinese Communist Party mouthpiece reports –  although New Zealand insists dicyandiamide (DCD) is less toxic than table salt, reporters found that many consumers still have doubts about New Zealand milk powder. And urchasing agents are getting extremely busy withEuropean milk powder business. According to Taobao, China’s largest e-commerce platform, in the last seven days, New Zealand milk powder traded indexwere down 24.1 percent. On Jan. 27, the index once declined to zero, which means a marked decline in sales of New Zealand milk powder. Many foreign milk powder sellers are posting the official statement on their home pages, claiming they don’t sell products of the Fonterra Group. A Taobao shopkeeper told reporter, despite having put on New Zealand officials’ statement on the webpage, recently the business has been “down” a lot. After training,the shop now requires customer service staff to be patient to explain to consumers and clear their doubts. At the same time, some milk powder brands from Europe began to expand their market share in China. According to media reports, recently, DM Stores, a large supermarket chain in Germany implemented restrictions for the purchase of infant formula; each customer can only buy up to four boxes each time. At the same time, the Netherlands requires each customer can only buy a jar of milk powder. Affected by the “restriction”, many European milk powder e-shops are considering raising prices. A Taobao shopkeeper advises reporter “to take advantageof the opportunity and buy more. If the restrictions are put into effect for a long time,price will continue to rise.”

– New Zealand shares continued their strong run-up since the New Year, with Fletcher Building hitting a new five year high of $9.52, although Fonterra Shareholders Fund units dropped back below $7 for the first time this year as fallout from the DCD issue continued. The NZX 50 Index rose 5.101 points, or 0.12 percent to 4,252.647, its highest since …

The New Zealand dollar pared gains from a more optimistic Reserve Bank review today after rating agency Standard & Poor’s joined the dots between a slowing Australian economy and the possible peak of the nation’s mining boom. The kiwi dollar rose to 83.47 US cents at 5pm in Wellington from 83.11 cents just before the RBNZ announcement, but was down …

Godfrey Hirst, the biggest carpet maker in Australia and New Zealand, has bought Oamaru’s unprofitable yarn-spinning plant from Japan’s Sumitomo Corp, effectively putting 192 staff on notice as it looks at ways to turn the operation around. The company, which bought the Feltex business out of receivership, was granted Overseas Investment Office approval to buy the assets last month. It …

An unnamed Swedish institution has been cleared to buy eight Waikato dairy farms from local billionaire Graeme Hart’s Carter Holt Harvey by the Overseas Investment Office. Southern Pastures Limited Partnership was given a green light to buy 3,205 hectares of land in December for an undisclosed sum, according to a decision summary published today. The farms have been for sale …