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Thursday 07th April, 2016
It's becoming more common for businesses to invest in research and development, leading to gains through innovation.
Statistics New Zealand has just released the latest data on the topic, showing about half of all companies are spending money on developing better goods and services.
The government's welcoming the figures, happy more firms are taking a leadership approach to product enhancement.
Research and development is seen as an effective way to diversify and strengthen the economy.
Associated spending rose by almost $200m last year, to $1.4b.
Wednesday 06th April, 2016
New Zealand Post is planning to sell almost half of Kiwibank to other government agencies.
The deal is expected to be confirmed later this financial year and values Kiwibank at $1.1b.
It would see the New Zealand Super Fund owning 25% of the company.
The Accident Compensation Corporation would own 20%.
Kiwibank is a subsidiary of New Zealand Post, and the deal would mean it stays within state ownership.
The government would have a right of first refusal over any further sale of shares.
Thursday 31st March, 2016
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The Otago Community Trust is pledging to donate a further $6m over the next 12 months.
The trust gives money to community groups and organisations during several funding rounds throughout its financial year.
It's prioritising grants for projects involving house insulation, cycleways, youth health and well-being, and rural health.
Already the trust's spent $1.2m on those initiatives this financial year to date.
The organisation has almost $260m invested.
Since its inception in the mid 1990s it's donated more than $145m.
Tuesday 29th March, 2016
Dunedin City Council debt is slightly higher than budgeted for this financial year to date.
The latest figures show the council's net deficit was $5.8m for the eight months to the end of February.
That's almost $400,000 worse than budget.
It's due to lower returns on international investments, higher depreciation costs and reduced revenue.
But the council's also had less expenditure than expected for the same period, and lower interest costs.
Over the long term it's paying off debt faster than planned.
Thursday 24th March, 2016
A local manufacturing company is celebrating a 75% increase in its half-yearly profit.
Scott Technology had a surplus before tax of $2.8m for the six months to the end of February.
That compares to its $1.6m profit for the first half of the 2015 financial year.
The company's half-yearly revenue has almost doubled, to $42.8m.
Its orders are at a record high, in part due to expanded operations.
Scott Technology's now planning to buy part of a German engineering company.
Wednesday 23rd March, 2016
The Bradken foundry in central Dunedin has been sold, after two years on the market.
It's not clear whether all five of the company's titles behind the Dunedin Railway Station have been sold, or to whom.
Property agents are keeping tight-lipped about the deal, saying the owner must give permission for public comment.
Bradken's Australian headquarters has previously refused to comment about the premises and its local operations.
It listed the Tewsley Street complex in early 2013 after leasing the Hillside workshops foundry for five years.
Thursday 17th March, 2016
A flourishing services sector, including retail and accommodation, is boosting the country's gross domestic product.
Last year the economy's value was $246b in current prices.
GDP has been rising in conjunction with service industries, which are up 0.8% overall.
Growth in trade and hospitality was offset slightly by a slowing down in the agriculture and manufacturing sectors.
Household spending increased by 1% last year, with more money going into restaurant and ready-to-eat meals, as well as travel and accommodation.
Wednesday 16th March, 2016
A drop in export earnings is driving down the country's account balance, to a $1.9b deficit.
That was in the last quarter, when the value of exported goods fell by almost $600m.
Import values were also reduced, following a record high in the previous quarter.
The dairy downturn is largely being blamed for decreasing export revenue.
Farmers are bracing themselves for a low seasonal payout, as the industry continues to decline.
Thursday 10th March, 2016
Retail spending continues to increase throughout the country, with large growth in the consumables and hospitality industries.
They were both up almost 2% last month, collectively expanding by $45m.
The sector's total electronic spending in February reached $4.6b.
That's an almost 10% jump from the corresponding period last year.
The expansion was despite a significant drop in fuel, down $12m for the month.
Wednesday 09th March, 2016
Otago's gross domestic product has risen to just over $10b.
At the latest count it equated to about 4% of the national total, which was worth more than $241b.
The region's had steady growth, with GDP doubling since the millennium.
Per capita Otago's sitting in the middle of the pack, with seven regions doing better and the same number falling behind.
The North Island is leading the way, representing just over two thirds of the country's economy.
Taranaki has the highest performance taking population into account.