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Fonterra Scare Affected All New Zealand?s Exports, Key Says

By Ressieewalt(view all posts by Ressieewalt)
at 09:21 AM Thursday 15 August, 2013
under General

Completion of the innovative structure, designed by Japanese architect Shigeru Ban, marks a major milestone in the city's recovery from the devastating 6.3-magnitude quake that levelled much of the downtown area, acting dean Lynda Patterson said. "The old cathedral symbolised the city in many ways and we think this cathedral is a symbol that Christchurch is regrouping and rebuilding," she told AFP. "The community has a cathedral again. It's a place where people can come for quiet contemplation in the city centre and somewhere we can hold concerts and art exhibitions." Built from 600-millimetre (24-inch) diameter cardboard tubes coated with waterproof polyurethane and flame retardants, the cathedral is a simple A-frame structure that can hold 700 people. Despite the unusual building material, it has a design life of 50 years, with the Anglican Church planning to use it as a cathedral for at least a decade while it builds a permanent replacement for the late 19th-century building lost in the quake. It has a concrete base, with the cardboard tubes forming two sides of the A-frame and containers helping brace the walls. One end of the cathedral will be filled with stained glass and a polycarbon roof will help protect it from the elements.
More: http://www.foxnews.com/world/2013/08/15/new-zealand-quake-city-opens-cardboard-cathedral/

With all the noise of this last week, people are connecting the dots, and thats why this is happening, Spierings said, according to an interview transcript. A report by Sri Lankas Industrial Technology Institute said two batches of milk powder contained DCD, and the countrys ministry of health had told Fonterras Sri Lanka division in a letter of its ban on local adverts, Sanath Mahawithanage, associate director of regulatory affairs at the companys unit, said by phone yesterday. Dairy products are New Zealands biggest foreign-exchange earner, accounting for 28 percent of overseas sales in an economy where exports make up about a third of output. Fonterra accounts for about a third of the worlds trade in dairy products and posted revenue of NZ$19.8 billion ($15.9 billion) in the year through July 2012. Currency, Stock The countrys dollar dipped to 76.93 U.S. cents Aug. 5, its lowest level since July 8, after Fonterra announced the Chinese import ban.
More: http://www.bloomberg.com/news/2013-08-11/new-zealand-ministers-to-visit-china-over-fonterra-contamination.html

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New Zealand central bank spells out house loan limit rules

The Reserve Bank of New Zealand (RBNZ) said after consultation with the banks and public it would limit the amount of high loan-to-value ratio lending (LVR) that banks would be able to do. "LVR restrictions on residential mortgage lending can help to dampen excessive house price growth in periods when credit growth is boosting housing demand beyond housing supply," RBNZ deputy governor Grant Spencer said in a statement. He said the approach was like setting a "speed limit", and would still allow many high-LVR loans to be made. As an example, the RBNZ free said such a speed limit might see banks allowed to have no more than 15 percent of new lending on loans of more than 80 percent of a property's value. Industry commentators and the banks' own industry group, the Bankers Association, have questioned whether restrictions will work, and suggested borrowers will seek alternate sources such as family, and non-bank lenders to get around any rules.
More: http://www.reuters.com/article/2013/08/13/us-newzealand-economy-macro-idUSBRE97C03H20130813

New Zealand Dollar Higher Late, Bolstered by Improving Data

Highlighting New Zealands high-end accommodation, restaurants and attractions, the week-long tour will explore both islands, visiting Wellington, Christchurch, Queenstown, Milford Sound and Auckland. The visit began yesterday at Auckland International Airport with a VIP welcome followed by a powhiri at Te Manukanuka o Hoturoa Marae. India has been identified by Tourism New Zealand as an emerging market providing enormous opportunity for New Zealand, with its strong economy leading to a growth in personal spending and outbound travel. Tourism New Zealands Regional Manager of South and South East Asia, Mischa Mannix-Opie, says the visit is part of Tourism New Zealands work to build both awareness and travel connections to New Zealand, to accelerate the growth of quality visitor arrivals. We see this famil as an opportunity to showcase New Zealand in a modern and refreshed way, to help ignite these industry leaders interest in developing new itineraries to sell destination New Zealand to their customers, she says. The famil is being co-hosted by Max Workouts Azahar Hamid, the Regional Senior Vice President of South Asia and Middle East for Malaysia Airlines.
More: http://www.eturbonews.com/37060/new-zealand-show-travel-leaders-india

New Zealand on show for travel leaders from India

dollar. RBC Capital Currency Strategist Sue Trinh said job ads, the manufacturing purchasing managers' index and consumer confidence all continued to improve in July "so Kiwi's outperformance was consistent with that against a backdrop where the USD was broadly offered versus the majors." According to the ANZ-Roy Morgan August measure of Consumer Confidence "consumers remain in a buoyant mood," while manufacturing activity continued to expand in July, according to the BNZ Capital-BusinessNZ seasonally adjusted manufacturing index. Data from ANZ Bank also indicated that job advertising gained in July. Ms. Trinh said investors will now be focusing on a raft of U.S. data, in particular the closely watched consumer price index "to the extent that it will help shape market expectations about the timing of tapering." In late Wellington trading, the New Zealand dollar was at US$0.8056 compared with US$0.7982 late Wednesday, and at A$0.8779 from A$0.8773. New Zealand government bonds fell and a local bond trader said there was only tepid demand at the government's tender.
More: http://online.wsj.com/article/BT-CO-20130815-700795.html

New Zealand Flight Authority Grants Permit for Piloting Jetpacks

Reuters 9 hours ago Eurosport - New Zealand's Liam Messam (ground) scores the first try during the Autumn International rugby union match between Wales and New Zealand at the Millennium Stadium Related Content Bet on Rugby - Bet 25 and get 25 free Messam had been named earlier on Thursday to start the match at blindside flanker but was a late withdrawal from the click team as they finalised their preparations before flying to Australia. "Gutted to miss on pulling on the black jersey for this weekend," Messam said on his official Twitter account. "Time to ice up and rest up and next week is a new week." Local media said Messam could be out for as long as three weeks. The All Blacks were en route to Australia and unavailable for immediate confirmation. Steven Luatua would instead make the trip to Sydney after initially being released to play for Auckland in New Zealand's domestic provincial championship this weekend, the New Zealand Herald reported.
More: http://uk.eurosport.yahoo.com/news/rugby-messam-late-withdrawal-new-zealand-side-041252801.html

Championship - Messam a late withdrawal from New Zealand side

The company is getting ready to debut the jetpack by the end of the year and anticipates that the CAA will be as excited about that as the company is. Peter Coker, the CEO of Martin Aircraft, said that the CAA has been very flexible and accommodating, so far. "We worked very closely with them throughout the testing process," he told ABC News. "They came and watched us do a remote test flight and then gave us the license for a manned test flight." Though the CAA currently places an elevation restriction on how high the jetpack can go, it is capable of much greater heights. A recent outdoor test with a dummy pilot reached 5,000 feet before launching a parachute and gliding back down to land. Because of the Martin jetpack's relatively light weight, 132 pounds, Martin Aircraft has classified it as a microlight aircraft. It would fall under similar regulations to what the Federal Avaiation Administration has set up for ultralight vehicles in the United States.
More: http://abcnews.go.com/Technology/zealand-flight-authority-grants-permit-piloting-jetpacks/story?id=19962279

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