New Zealand

New house price index developed by RBNZ and REINZ

Reserve Bank Assistant Governor, John McDermott

The Reserve Bank Assistant Governor, John McDermott, said that the new monthly housing price index would give the trends of the housing market faster than before.

The Central Bank has developed a stratified house price index with the help of Real Estate Institute of New Zealand (REINZ).

This index would also give detailed suburb-level data, besides REINZ's staple median house price data.

Hike seen in NZX profits after asset sales

Hike seen in NZX profits after asset sales

The profit of NZX has been inflated to above $60 million, with ebitdaf excluding one-off items, for the first half of the year.

The net profit of $60.76 million is 1222% more as compared to the last year's profits of $4.97 million.

The sky-rocketing increase has been due to the sales of TZ1 Registry and the ownership share in the Bond Exchange of South Africa.

After excluding one-off items, the company showed a 16% increase in ebitdaf amounting to $10.19 million.

Callplus comes out with new Slingshot plans for users

Callplus comes out with new Slingshot plans for users

A wide array of plans has been rolled out by new mobile virtual network operator (MVNO) Callplus, which mainly focus on prepay customers with low rates for calls and text messages.

Mark Callander, Callplus general manager said that the consumer offerings will be made under the Slingshot brand, with two plans to become available later this week. The first, Mobile 1, which will carry a cost of $10 a month, will have a contract period of six months.

Plumbers course fought for by Unitec

TEU president Tom Ryan

TEU president Tom Ryan holds the viewpoint that due to recent moves by the Plumbing, Gasfitting, Drainlaying & Roofing Industry Training Organization (ITO), quality of trades education, and ultimately the safety of the public, are under threat.

In recent times, ITO has been stressing on polytechnics to decrease the length of study for plumbing theory from 22 weeks to 11 weeks.

Supreme Court urged to recall its decision by Saxon growers

Supreme Court urged to recall its decision by Saxon growers

Recently, the Supreme Court passed a decision against a group of Saxon merino wool growers, who are now demanding for it to be recalled, since they are claiming that one of the judges Justice Bill Wilson - who also happens to be a co-shareholder and director in a thoroughbred company - broke the law.

The Wool Board was represented by Alan Galbraith, QC, in a dispute with the growers over wool levies.

R&D focus maintained by Meat and Wool New Zealand

Meat and Wool New Zealand

As per the media reports, impressive investment is being maintained by Industry organization Meat and Wool New Zealand, amidst recession in research and development (R&D).

The company, according to CEO Scott Champion, has maintained a healthy value in research and development investment, by predicting matching funding from the government's Primary Growth Partnership fund.

The company had promised $190 million over the next four years towards the fund, which is a part of the government's Budget delivered in May.

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