IMD’s annual World Competitiveness Yearbook shows astonishing results

IMD’s annual World Competitiveness Yearbook shows astonishing results

It has been learnt that New Zealand, which was on 18th place initially on the IMD’s annual World Competitiveness Yearbook, has risen to 15th now.

IMD ranked 57 economies, in which the US is still top while Hong Kong has switched places with Singapore to be second and is swiftly closing the gap with the US. Furthermore, fourth rank was still maintained by Switzerland from last year.

Ageing population issue urged to be addressed by Government

Wayne Swan

A retirement investment specialist believes when it comes to the retirement policy, New Zealand should take a leaf out of Australia's book.

Australia's Treasurer Wayne Swan made an announcement in this month's budget that by 2023 the age a person is eligible to receive a pension will increase from 65 to 67.

In addition, retirement tax benefits for higher-paid individuals will be decreased and to pay for a weekly increase for present pensioners the Government would discontinue matching contributions to low and middle-income earners.

NZers feeling more secure about their jobs

NZers feeling more secure about their jobs

It has been specified by Research New Zealand polling that depite increase in jobless people to its highest level in six years, most Kiwis are confident about their job security and believe that the Government is taking the right steps to manage the recession.

It was put forward by the poll that two thirds (68%) of respondents believe the state of the economy is having an impact on their current financial situation and standard of living, and one in six (18%) feel it is having a 'big impact'.

Kordia to present board a trans-Tasman cable in September


September would still see state-owned communications company Kordia presenting a trans-Tasman cable to its board.

It should be noted that the process that could have led the company to spend $15 million to become a cornerstone tenant was pulled.

It was expressed by Kordia general manager for strategic development, Susie Stone that apart from having strong support from the market, Kordia also had enormous customer interest in the venture.

$150m to be invested by Bunnings NZ on Expansion Plans

Bunnings Warehouse

Over the next two years, a sum of $150 million will be invested by DIY home improvement chain Bunnings in to expansion across New Zealand.

Since the brand entered the market in 2001 the Australasian stores by now have 41 retail outlets and $250 million invested in New Zealand and an annual New Zealand turnover of $500 million.

Bunnings general manager Rod Caust said that a very keen business development team is with the company, which is constantly searching for sites across both the North and South Islands.

Six year high hit by NZ’s jobless rate

New Zealand's unemployment

In the first quarter New Zealand's unemployment rate reached a six-year high since the country experienced worsening recession.

In the three months ended March 31st, the jobless percentage increased to 5% from 4.7% in the previous quarter, the latest data from Statistics New Zealand confirms.

The entire number of people without a job was 115,000, in the three months to March 31 up by 7000.