New Zealand Financial News

New Zealand needs immigrants to fill skills shortages, Prime Minister Chris Hipkins said, indicating he won’t seek to actively curtail a record inflow of foreign workers if he wins next month’s election. “We are going to have to bring in skilled workers,” Hipkins said at the Bloomberg Address Wednesday in Auckland. “What we will focus on is making sure the immigration that we have is contributing to economic growth and isn’t being used as a substitute for it.” Hipkins, leader of the ruling Labour Party, said governments “can grow the economy just by putting people into it but that’s not going to raise our standard of living.” “We have to carefully consider our immigration settings all the way along to make sure it’s contributing to overall growth per capita,” he said. New Zealand is experiencing near-record net immigration after Hipkins tweaked policy to help solve a damaging worker shortage that was driving up wages and costs. The surge of arrivals has so far helped to calm pressures in the labor market without injecting fresh demand into housing that might trigger a fresh wave of inflation.

IFM Investors’ private equity unit has invested $80 million into software business Tally Group, which specialises in administering and billing for customers who use the grid for drawing and sending power.

Global South," and that at the upcoming Group of 20 meetings being held in New Delhi, that voice will be heard. At the August summit of the BRICS nations — Brazil, Russia, India, China and South Africa — current chair South Africa declared its goal was to «advance the agenda of the Global South.» And ahead of this May's summit of the Group of Seven wealthy democracies in Hiroshima, Japanese Prime Minister Fumio Kishida stressed that the guest nations he had invited reflected the importance of the Global South. The United Nations, the World Bank, U.S. President Joe Biden — everyone seems to be talking about the Global South these days.

The chief executive of THL, which operates a fleet of 7233 rental campervans and motorhomes, is backing the push to open Australia to more competition from international airlines such as Qatar Airways.

UBS co-head of equities Chris Scott is out. Street Talk understands the UBS veteran exited the Swiss investment bank on Thursday following an internal structural shift.

Rugby World Cup campaign begins with a clash against Scotland in Marseille on Sunday. The Springboks, reigning champions, are keen to make their mark in a challenging Pool B that also features Ireland, Romania, and Tonga. The top two teams from the group will advance to the quarter-finals. In their final warm-up match, South Africa impressed by defeating New Zealand 35-7 at Twickenham, building on a previous victory over Wales. Meanwhile, Scotland secured a win against a weakened French squad but faced a narrow loss to a stronger French line-up, displaying potential for the World Cup.

Binance Eastern Europe Vice President Gleb Kostarev and CIS Manager Vladimir Smerkis have announced their departure from the company as the exchange considers a possible exit from Russia.

Reliance Jio has sought flexible use of airwaves between satellite and terrestrial use, noting that the latest changes in technology and standards have allowed for integrated or converged networks. The No 1 carrier has communicated this stance to the Telecom Regulatory Authority of India (Trai) in a letter ahead of expected recommendations on assignment of spectrum for space-based communication services.

Krishna and other deities, in anticipation of Janmashtami. As per a TOI report, business owners in the region have reported a surge in demand this year, with bulk orders pouring in from over 40 countries, including the US, Australia, New Zealand, the UAE, and several European nations. Some projections suggest that Janmashtami sales could exceed a staggering Rs 200 crore. Anil Agarwal, hailing from a family with a rich history in apparel manufacturing, told TOI, «In the run-up to the festival, we've shipped costumes worth crores to overseas destinations and various states across India.

Reliance Jio has shared with Telecom Regulatory Authority of India (Trai) a recent decision taken by New Zealand government allowing use of 24-30 GHz spectrum, part of Ka band, for satellite and mobile services to highlight its point. Jio has stressed that the suggestion for flexible use of spectrum is based upon the latest changes in technology and standards which have allowed the creation of integrated and converged networks. As per Trai’s consultation paper on assignment of spectrum for space-based communication services, Ku band ranges from 10 GHz to 15 GHz while Ka band ranges from 17 GHz to 31 GHz. As per Jio, the New Zealand government has agreed to allocate 24.25-27.5 GHz primarily for mobile use, with an option to include some satellite services in some areas. Bands in the 27.5-28.35 GHz range are to be shared for mobile and satellite services while 28.35-29.5 GHz to be allocated for satellite services with the option to include some mobile use. “The above decisions clearly show that the New Zealand government has recognised the need for flexible use of spectrum in the wake of imminent technological convergence in telecommunication networks under integrated and converged satellite and terrestrial networks,” Jio said in a letter dated September 5 to Trai chairman PD Vaghela. As per Trai, Ku band can be used for both fixed satellite services and mobile satellite services.

Less than a year since returning to banking, Julian Peck, JPMorgan’s head of investment banking for Australia and New Zealand, has hit the ground running with large deals, but admitted there is work to do for the US bank to claw market share away from rivals like Goldman Sachs and Morgan Stanley.

Victoria’s biggest bus operator Ventura Group is understood to be fielding interest from at least two overseas bidders, despite questions raised around its ability to retain juicy government contracts come 2028.

Macquarie Group’s asset management arm downgraded its short-term outlook as it expects returns from potential asset sales to push out into the second half of the investment bank’s 2024 financial year.

NEW DELHI, MUMBAI : For Rahul Sharma, 40, an ardent Indian cricket fan living in Singapore, the eager excitement of watching Team India’s performance at the ICC Men’s Cricket World Cup 2023 in his home country has slowly turned into frustration. Despite having booked flights to India for himself and his family months in advance, his quest to secure tickets, especially for the coveted India matches from BookMyShow, the Indian cricket board’s official ticketing partner, has been fruitless. All he has managed to pick up so far: Tickets for two non-India matches, leaving him still in pursuit of prized India match tickets.

Twiggy dramas and desert jamborees aside, the well-oiled machine that is billionaire Andrew Forrest’s private investment company, Tattarang, rolls on.

By Karin Strohecker and Vincent Flasseur

UFC is making its return to Australia with UFC 293 in Sydney, set to take place on Saturday. In the middleweight division, Israel Adesanya is finding himself with limited opponents to face. Although Dricus Du Plessis was briefly considered, plans have since changed. As a result, Adesanya is now slated to defend his championship belt against Sean Strickland at UFC 293, scheduled for September 9. This exciting event will be hosted at the Qudos Bank Arena in Australia and will be broadcast on ESPN+ in the United States. UFC 293 boasts an enticing main card that kicks off at 10 pm (ET) and is available on pay-per-view ($79.99, via ESPN+). Additionally, two sets of preliminaries will be aired on ESPNews and streamed on ESPN+ starting at 6:30 pm (ET). It's important to note that there is a significant time difference of 14 hours between Sydney and Eastern Standard Time. Israel Adesanya (24-2 MMA, 13-2 UFC) is set to defend his middleweight title for the first time during his second reign as the UFC middleweight champion when he faces off against Sean Strickland. Adesanya initially claimed the title in 2019 and successfully defended it five times before losing it to his kickboxing rival, Alex Pereira, in November 2022. However, in April, Adesanya avenged that defeat with a second-round knockout, regaining the championship belt. The star fighter, who is based in New Zealand, has long been anticipated to headline the UFC's return to Australia.

By Joice Alves

The New Zealand home loan market is irrational, unprofitable and ultra-competitive, major banks say. Still, that has not stopped non-bank lender Pepper Money from picking up HSBC’s mortgage book, as New Zealand’s Commerce Commission launches a probe into the banking sector.

SkyCity Entertainment, the ASX-listed owner of the Adelaide casino, could temporarily lose its licence to operate in New Zealand after it allegedly broke gambling harm minimisation rules.

By Kirsty Needham