Fonterra supplying Sri Lanka on extended credit line

The dairy giant said its priority is the safety of its people during ongoing protests. (Image: Getty)

Wed, 13 Apr 2022

Dairy giant Fonterra says its main priority is the safety of its people as Sri Lanka grapples with its worst economic crisis in 70 years.Sri Lankans have taken to the streets to protest food shortages, soaring prices and power cuts. The government meanwhile defaulted on its debt overnight, much of it owed to China. “It is a very challenging environment right now in Sri Lanka. Our number one priority is the safety of our people and their families, and we are doing what we can to support them in different ways,” Fonterra's ch...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market close

NZ sharemarket flat amid Tourism Holdings trading halt

The S&P/NZX 50 Index closed at 11,874.04, up 6.46 points or 0.05%.

Graham Skellern 6:15pm

Infrastructure

Auckland airport releases terminal details, hits back at airline claims

Oliver Lewis 3:00pm

Markets

BNZ's 1H profit and margins ease

Net profit was down 5.3% on the previous year's first half.

Rebecca Howard 11:18am

Sponsored

Cyber alerts in New Zealand on the rise

A shortage of security experts puts pressure on combating threats

Fortinet

Sponsored

Avoiding mistakes many investors make

Managing emotions key to securing long-term returns.

Milford

More Primary Sector

Primary Sector

Dairy Goat Co-op chair Campbell Storey to step down

He won't go until the annual meeting in September, however.

Riley Kennedy 5:00am

Primary Sector

John Penno quits Synlait board as George Adams elected chair

Synlait Milk co-founder John Penno has quit the company’s board, and George Adams has taken over as chair.The debt-laden milk processor told the New Zealand stock exchange (NZX) on Wednesday that Adams, who joined the board in March as an independent director, would take over fro...

Riley Kennedy 01 May 2024