TNM

Year 2008 sees 0.9% growth in NZ population

population

According to latest Statistics New Zealand figures, the population of New Zealand has reached 4.29 million. There was an increase in the population by just over 39,000 or
0.9% last year compared with more than 41,000, or 1%, in 2007.

Since there was a fall in net migration, the growth in population was lower in 2008 than in 2007.

Transpower cops flak over cable collapse

Transpower

Today morning, power lines fell on nearly 20 suburban Auckland houses. However, no causalities were reported and all the residents have been safely evacuated from their homes. Some of the terrified residents had been trapped for hours.

As of now, the inspectors from Transpower were at the scene trying to clear away the broken 200,000 volt line which lies sprawled across homes, gardens and road.

"The cause of this morning's line plunge was still under investigation," said Transpower spokeswoman Adele Fitzpatrick.

Telecom’s profit likely to be down by 30%

Telecom's second quarter results are expected to post a 30% fall, after tax, and would not be a surprise as it is within the market predictions, a net profit of $121 million is expected.

According to ABN Amro Craigs broker, Peter, the share price of Telecom is not likely slide. Mr. Peter said, "Telecom will be reporting `Ferrit free', displaying some retail revival and mobile survival, which were all key messages from its first AGM under its new Chief Executive, Paul Reynolds."

Shell NZ reviews its downstream businesses

Royal Dutch Shell Plc

Royal Dutch Shell Plc., Europe's largest oil company, third-biggest shareholder after BP and Mobil, has under taken a review of its investments in New Zealand and its 
17% stake in the nation's only refinery at Marsden Point. 

Fruit and veggies lead food price rise

New Zealand

According to Statistics New Zealand's latest food price index fruits and vegetables are getting increasingly expensive even though the global recession saw a widespread fall in the prices of the commodities.

Electricity grid to get $50m upgrade in April

Transpower

Today, Transpower accelerated $50 million of work on the national grid, thus much required work on high-voltage power pylons will now be maintained from April on, which otherwise could have been waiting up to 10 years. 

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