ASB Bank warns on dividends after profit dip

ASB Bank

11% drop in ASB Bank's profits, as the bank reported a $238m operating profit for the six months to December 2008.

The drop further includes a $41 million that also includes loss that grew from applying new global accounting rules.

In 2007 the profits during the same period were $267 million.

ASB chairman Gary Judd said, "Total bank assets increased by 16.3 per cent, with lending balances rising 8.6 per cent."

Plunge in Fuel prices in New Zealand

Plunge in Fuel prices

Recently, a drop was witnessed in the prices of the fuels since prices were cut by the oil companies by 3 cents per litre.

Mushroom farm future still uncertain

Mushroom farm future still uncertain

New Zealand Mushrooms had received interim orders from the Environment Court either to shut its composting plant or control the odour so that it does not spread beyond its jurisdiction.

Vodafone Australia and Hutchison Telecommunications likely to merge

Vodafone Australia and Hutchison Telecommunications likely to merge

Vodafone Australia and Hutchison Telecommunications have proposed to merge and would operate under the brand name of Vodafone, VHA.  After the merger VHA’s revenue shall go up to $ 4 billion and its customers to about 6 million.

Fletcher sells head office premises for $36 million

Jonathon Ling

Auckland head office premises of Fletcher Building have been sold to Bay of Plenty property development company Carrus Corporation for $36 million.

Flooding hits Manawatu

Flooding hits Manawatu

An advice to remain really careful has being handed over to Manawatu motorists, following the heavy rains which caused surface flooding in Palmerston North and Wanganui today.

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