Mainfreight Ltd., the biggest trucking firm on the NZX 50 Index, which currently is wrestling with tough conditions in most markets, has rolled over about NZ$200 million of bank facilities, which gives it ongoing access to funds.
Negotiations with its banks, Westpac and Commonwealth Bank, were concluded by the company, in which they agreed to renew facilities made up of NZ$125 million and US$50 million, to run through until June 2012.
As per the media reports, TelstraClear is upgrading its hybrid fibre coaxial networks, which will help it provide 'WarpSpeed - Next Generation Broadband' with the capability of delivering 100Mbps.
It is being said that the meaning of 'fast' will be redefined for the users, by the investment of nearly $10m in DOCSIS3 infrastructure [Data Over Cable Service Interface Specifications] on TelstraClear's Wellington and Christchurch networks.
March of 2010 will see network rollouts commencing, with services to be progressively introduced as the market demands.
Dick-Smith recently opened a new-look Queen Street store, which can be seen as the maiden example of the change to the electronic retailer's branding.
The new store is slicker, apart from being more established. The store boasts of interactive areas, which will enable customers to touch, feel and test the products they are interested in.
At the annual meeting of listed electricity company TrustPower today, it called for a partial privatization of New Zealand's energy SOEs. The company specified that security of power supply ensured by a 20% float.
The meeting was addressed by Chairman Bruce Harker, who said that the company expected that the ministerial review of the New Zealand energy market, announced in April, would take a closer look at commercial accountability when it comes to power supply.
It has appeared that mobile terminations rates are to be halved by Telecom, the full reduction of which won't come until 2015.
Telecom has offered to decrease mobile termination rates, from 15 cents per minute today down to 7 cents by 2015, in its submission to the Commerce Commission.
It should be noted that the latest move comes after Vodafone proposed to extend its termination deal with 2 Degrees to any other mobile entrants. However, the terms of Vodafone's deal are unknown because of the contractual obligations with 2 Degrees.
A record after-tax net profit of $9.7 million has been reported by specialist medical company Abano, amidst improved demand across all healthcare sectors.
The company says that for the year ending May 31, the profit was up 24% on last year.
Earnings before interest, tax, depreciation and amortization (editda) of $31.5 million has been reported Abno, which is higher 35% from last year; with a 21-cents-per-share dividend for the 2009 financial year.
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