NZIER sees the government's nine-day fortnight scheme as an expensive waste


If adhered to the New Zealand Institute of Economic Research latest report, the government's nine-day fortnight scheme may just be an expensive waste.

Today, a discussion document was released by the economic consultancy that focused at the most effective means of dealing with the rising unemployment rate.

The document said international research has shown direct job subsidies to be expensive and tended to be extremely inefficient at creating or retaining actual jobs.

Survey shows; more farmers getting pessimist

New Zealand farmers

New Zealand farmers are quite concerned over commodity prices and global market issues and many of them hold a viewpoint that the agricultural economy would worsen in the next 12 months. A new survey has put forward that there has been a 4% increase to 33% in those who think agricultural economy would worsen in the next 12 months, up from 29% at the last survey.

New Zealand Treasury predicts 1% drop in GDP

New Zealand

It was put forward by the New Zealand's Treasury on Monday via a report that it hopes the real GDP to drop nearly 1% in the March quarter. Furthermore, in the first quarter, the demand and output declined again, leading to decreases in capacity utilization and the demand for labor.

It has been predicted that output in significant trading partners of New Zealand weighted by their share of exports is expected to decrease nearly 2.5% this year. 

Kordia buys Wellington-based hosting company iServe


Wellington-based hosting solutions company iSERVE has been bought by State owned internet service provider Orcon.

New Zealand's second largest specialty hosting business iSERVE and more advanced hosting services would be controlled by Orcon. 

Orcon CEO Scott Bartlett said in a statement, “We have a strong presence in the internet environment but we want to go beyond just broadband and hosting is one area where we believe we can add zing.”

Pak 'n Save Supermarket opens after 20 years of legal battle

Pakistan Supermarket

After nearly 20 years of fighting a legal battle, Supermarket Pak 'n Save finally opened its doors in North Shore City.  

The Wairau Rd land was bought in the year 1989 and ever since the company has been waiting to open a store.

In October 2004, it received resource consent, and the building was completed in 2005.
However a challenge was made by rival chain Progressive Enterprises to Foodstuffs' resource consent and the result was a prolonged court battle.

Jasons Travel Media reports lower profit

Jasons Travel Media

Jasons Travel Media has informed that its annual profit in the year to March 31 will be lesser than projected.


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