China’s banking heavyweight registered as bank in NZ
The Reserve Bank today announced that it has registered the Industrial and Commercial Bank of China to provide banking services in New Zealand.ICBC is incorporated in China and will operate in New Zealand as a branch, the RBNZ said. According to S&P Global, ICBC has about $4.3 tr...
PSI at lowest since 2007
Activity in New Zealand’s services sector ground to a halt during April, according to the BNZ - BusinessNZ Performance of Services Index.A PSI reading below 50.0 indicates it is declining. April marked the lowest level of activity since the survey began in 2007 at 25.9 but BNZ se...
PaySauce completes capital raising
PaySauce has completed the final instalment of its $5.8 million capital raising.The payroll software company today issued the remaining 1.65 million shares - two weeks earlier than expected - to bring another $560,000 into the business.Chair Nick Lewis said having an oversubscrib...
Freightways arranges extra $50m of funding
Freightways has increased its banking facilities by $50 million to ensure the firm can cope with the weaker economy.Chief executive Mark Troughear said some facilities that had been set to mature in 2021 had also been extended by two years.Troughear said the firm had been nimble...
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