Policy
Explore the latest government news by BusinessDesk.
Infrastructure
CORRECT: Napier Port priced at top of the range; locals nab 20%
(Fixes level of priority entitlements, adds detail in 2nd paragraph) By Paul McBeth Aug. 8 (BusinessDesk) - Napier Port shares will sell at $2.60 - the top of the indicated range - after a bookbuild was significantly oversubscribed and investors at the front of the queue pi...
Finance
RBNZ confident steep rate cut, government largesse will jump-start economy
By Rebecca Howard Aug. 7 (BusinessDesk) - New Zealand's central bank is confident its 50 basis point rate cut coupled with the government's spending programme will be enough to jump-start the economy, but economists are sceptical. "We believe the Reserve Bank is more hopefu...
Finance
Govt officials eye default KiwiSaver settings to promote ethical investment
By Paul McBeth Aug. 7 (BusinessDesk) - Ministry of Business, Innovation and Employment and Treasury officials want feedback on whether the government should alter default KiwiSaver provider settings to promote responsible investment. The government departments are holding...
Finance
UPDATE: RBNZ slashes cash rate to 1%, dollar tumbles
(Updates with detail throughout) By Rebecca Howard Aug. 7 (BusinessDesk) - The Reserve Bank slashed the official cash rate by 50 basis points to 1 percent due to a softer outlook for employment and inflation, slower economic growth and weaker global conditions. The New Zeal...
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