Edition:
United Kingdom

Praveen Menon

Australian banks need extra $8.5 billion to meet tougher New Zealand capital rules

05 Dec 2019

WELLINGTON/HONG KONG Australia's major banks shrugged off concerns about further weakness in dividend payout ratios and earnings downgrades after New Zealand announced tougher capital requirements on Thursday.

Australian banks await key New Zealand decision on lifting capital ratio

04 Dec 2019

WELLINGTON, Dec 4 New Zealand's central bank is expected to announce tougher bank capital ratio requirements on Thursday, a move that could tighten credit conditions and hurt the bottom line of the major Australian lenders who dominate the market.

NZ holds interest rates, clips doves' wings as kiwi soars

13 Nov 2019

WELLINGTON New Zealand's central bank surprised investors by holding interest rates at an all-time low of 1% on Wednesday saying it saw no urgency to ease policy further, sending the kiwi dollar sharply higher.

New Zealand public hearings highlight dark history of child abuse

08 Nov 2019

WELLINGTON Public hearings in New Zealand on abuse of young people in state and faith-based care have exposed a horrific history of neglect and exploitation as Prime Minister Jacinda Ardern seeks to make the country the best place in the world to be a child.

Former Air New Zealand chief joins opposition ahead of 2020 elections

04 Nov 2019

WELLINGTON The former Chief Executive of Air New Zealand and one of the nation's most prominent businessman, Christopher Luxon, will join the opposition National Party as a candidate in next year's general election.

New Zealand to lift Pacific defense capabilities to protect interests

29 Oct 2019

WELLINGTON New Zealand on Tuesday revealed how it plans to lift its defense capabilities in the Pacific to protect its interest but stayed clear of naming China, whose growing influence in the region has raised concerns, as a reason.

New Zealand plans armed police patrols after Christchurch massacre

18 Oct 2019

WELLINGTON New Zealand officials said on Friday armed police will patrol parts of the country in a trial project following heightened security concerns after a mass shooting in Christchurch in March that killed 51 people.

New Zealand cenbank says lower rates may be needed; annual inflation slows

16 Oct 2019

WELLINGTON New Zealand's central bank signaled more rate cuts, or even unconventional stimulus measures, may be needed to counter global headwinds, as figures on Wednesday showed the country's annual inflation rate slowed in the third quarter.

UPDATE 2-NZ's Fonterra goes back to basics after record annual loss

26 Sep 2019

Sept 26 New Zealand's Fonterra , the world's largest dairy exporter, reported a record annual loss on Thursday, and unveiled a new strategy to phase out overseas "milk pools", cut debt and focus on its local production.

New Zealand to be Middle-earth again in Amazon's The Lord of the Rings series

18 Sep 2019

WELLINGTON/SAN FRANCISCO New Zealand will be home again to hairy feet and pointed-ear Hobbits after Amazon Studios confirmed the Pacific country will be the location for its new "The Lord of the Rings" series, a TV show widely tipped to be the most expensive ever made. | Video

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