TNM

NZ Refining reported rise in profit

NZ Refining reported rise in profit

New Zealand Refining Co., operating the only refinery in New Zealand at Marsden Point, near Whangarei, which had forecasted a profit for the year ending on December 31, between $115-125m in the month of October, had a profit higher by 11 percent of $124.9 million, on account of high refining margins and a favourable exchange rate. Its Revenue increased 18 percent to $397.8m.

$1 air fare offered by budget Airline Jetstar

$1 air fare offered by budget Airline Jetstar

Australian budget airline, Jetstar, in a bid to expand into the New Zealand market sold 30,000 $1 fares, one way on all the domestic routes between Auckland, Christchruch, Wellington and Queenstown, within three hours and had an overwhelming response in New Zealand and Australia.

These special web fares are available for the travel from July 22 to September 22, subject to the availability of seats on selected days and flights, excluding the public and school holidays.

Air NZ launches Masterton to Auckland service

Air NZ launches Masterton to Auckland service

On Monday the first commercial flight out of Masterton in almost 10 years left at 7.05 am.

The service has been commenced by An Air New Zealand subsidiary, Eagle Air on six days a week to Auckland. Hood aerodrome underwent an upgrade costing $1.2 million.

It should be noted here that it is the time when Air New Zealand is scaling back operations in some other centers and the new route is starting.

Eagle Air says, "There is demand for the service and the indications are that it will be well supported."

More personal details sought by credit agencies

More personal details sought by credit agencies

It has recently come to vision that credit companies would be able to gain more access to the financial details of people who are seeking to borrow money under a proposal being investigated by privacy watchdogs.

Under this proposal, the credit companies would be able to find out whether previous credit applications had been approved, what they were for, who lent the money, what the credit limit was, and whether the account was still open.

As of now, they can only scrutinize how many times an individual has applied for credit and any negative details.

Rural property prices hold their ground

Rural property prices hold their ground

On Monday, REINZ released the latest data according to which, turnover for the three months to January 2009 was one of the lowest on record, with just 305 sold compared with the three months to January 2008 when 732 properties sold.

Peter McDonald, REINZ national councilor and rural spokesperson said, "One of the factors having the greatest impact on turnover is the availability of cash, or the lack thereof."

Jetstar tipped to move into domestic market

Jetstar tipped to move into domestic market

Since the Qantas kangaroo's budget subsidiary Jetstar has tipped to move into the New Zealand domestic market, it seems that the former might soon disappear from New Zealand skies.

Jetstar that already flies Trans-Tasman from Christchurch will soon commence the same service from Auckland. Now the domestic market would also be tackled by it.

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