Though the Reserve Bank's home loan speed limits emerge to be having an effect on New Zealand's housing market yet economists are of the opinion that the real picture will not emerge until November's figures are released.
The central bank this week released statistics relating to its high loan-to-value ratio (LVR) mortgage lending, otherwise known as low-deposit lending.
John McDermott, the Reserve Bank's assistant governor said raising the country's savings rate will assist lessen New Zealand's dependence on foreign funding and ultimately drive down an overrated kiwi dollar. Today in Wellington in a speech to Federated Farmers, McDermott said the New Zealand dollar was overvalued.
Forbes Media LLC, the publisher of famous Forbes magazine, is reportedly working with bankers to sell its brand.
According to a leaked memo, which was sent by Chief Executive Officer (CEO) Mike Perlis to the company employees, the publisher has hired the services of Deutsche Bank AG to examine the potential sale.
The memo also claims that Deutsche Bank was hired after the company received interest from prospective buyers.
Fair Play on Fees is a campaign targeting being organised against New Zealand's registered banks over allegedly charging its customers unfair penalty fees. The campaign aims at reclaiming the exceptional fees charged when customers overdraw their accounts or pay credit card bills late by the banks.
Kiwibank is the second bank which has been targeted with class action taken against it.
A record profit of more than $3.5 billion was made collectively by the four most important banks of New Zealand.
ANZ, Westpac, ASB and BNZ together fetched profits of more than 9 per cent on 2011/12 - a boost of $303 million.
According to the latest reports, the Meridian Energy claims that Bank of New York Mellon Corp. has just 3.98% share of the company, whereas, on the other hand the bank claims a much higher share in the Meridian Energy.
The company was listed in the New Zealand stock exchange on Tuesday and says that the bank is claiming more than the actual figures.
Good News USA
- Vodafone NZ’s new ‘Red Home’ packages will offer UFB and 150 TV channels
- Vodafone NZ’s full-year profit plunged by more than two-thirds to $56 million
- Vodafone adding 34 European countries to ‘AU$5 per day’ international roaming option
- Telstra launches its new ‘Every Day Connect Data Share Packages’
- Voyager signs “multimillion-dollar deal” with submarine cable group Hawaiki