New Zealand

Sales of Lion Nathan go up

Sales of Lion Nathan go up

It has been confirmed by Lion Nathan that it is fully geared to meet its full year profit guidance, following a growth in group sales by 3 per cent in the first nine months of its financial year.

It was forwarded by the brewer - which is supposed to be bought by Japan's Kirin - that its Australian business has seen an enormous growth in the nine months ended June 30, bringing about a 6 per cent lift in net sales revenue.

Increase noted in manufacturing sector

Business NZ CEO Phil O'Reilly

June became the month to record the highest overall level of manufacturing activity in the last nine months, as production increased notably during the mentioned month.

An upward movement was seen in PMI by 3.1 points from May to 46.2, in the BNZ Capital-Business NZ Performance of Manufacturing Index.

If a PMI reading is above 50, it indicates that manufacturing is generally expanding, and if it is below 50, then it indicates a contraction.

Economic problem worsens due to poor productivity; says Key

John Key, New Zealand’s Prime Minister

John Key, New Zealand's Prime Minister, said on Thursday that there is a dire need for New Zealand to deal with its poor productivity growth, as he thinks that this is the major problem being faced by the economy.

Wednesday saw an impressive speech being delivered by Key on New Zealand's economic performance, to a business audience in Wellington.

New system offered by Govt to deal with internet piracy

New system offered by Govt to deal with internet piracy

It would no longer be easy for copyright cheats to download music and movies from internet, as the Copyright Tribunal has been given the power to fine or disconnect offenders, by the government.

While many not realize it, the fact is that the entertainment industry has to bear a loss of tens of millions of dollars every year in New Zealand due to the illegal downloading of copyrighted material. Piracy has become so common that the govt. has come forward with an aim to put an end to it, by making the legislation tougher.

Air NZ fits blended winglets to wings of 767 aircraft

Air NZ fits blended winglets to wings of 767 aircraft

Air New Zealand hopes to reduce its fuel consumption by more than six million litres a year, by fixing a new 3.4m high wing tips on its fleet of Boeing 767 aircraft.

Today, the airline's first Boeing 767-300ER aircraft, fitted with blended winglets, landed at Auckland International Airport. 

With the help of the blended winglets, the aircraft’s wings become more efficient, as they cut the drag; thereby reducing fuel use and emissions.

Recession fails to affect performance of NZ businesses

Recession fails to affect performance of NZ businesses

A survey conducted on 1,400 businesses has shown that majority of New Zealand firms were holding their own in the economic downturn. 

It was found by the MYOB Business Monitor, a survey conducted by Colmar Brunton, that 60% of the companies surveyed have confirmed that profitability had stayed the same or improved over the past year.

The firms’ actual performance was observed by the survey, carried out in May and June; instead of its confidence, said New Zealand MYOB general manager Julian Smith.