Weekly Digest – 31 May 2023
Welcome to our Weekly Digest – stay in the know with recent news updates relevant to business and the economy.
Consumer confidence ‘extremely low’ amid rising rates
Consumer confidence in New Zealand is extremely low due to rising interest rates, with the Westpac McDermott Miller Consumer Confidence Index dropping to its lowest level since 2011. This is due to a combination of factors, including the housing market, the cost of living, and the global economic outlook.
Brave in Business e-Learning series launched for small businesses
The Ministry of Business, Innovation and Employment (MBIE) has launched a free e-learning series called Brave in Business to help small businesses in New Zealand. The series covers topics such as business planning, marketing, finance, and legal issues. It is designed to help small businesses become more resilient and successful.
Have vested interests knee-capped the Emissions Trading Scheme?
The article discusses how vested interests have prevented the Emissions Trading Scheme (ETS) from achieving its full potential. It argues that the ETS has been undermined by a lack of political will and a lack of public understanding of the scheme. It also suggests that the ETS needs to be better communicated and more widely supported in order to be successful.
From The Netherlands To Taranaki: World’s Lightest Solar Panels To Power Aotearoa’s National Future Energy Centre
The National Future Energy Centre in Aotearoa, New Zealand, is set to be powered by the world’s lightest solar panels, imported from the Netherlands. The panels are lightweight, durable and efficient, and will help the Centre to become a leader in renewable energy.
AgriTechNZ News: recognising agritech’s impact
AgritechNZ has released a report that highlights the impact of agritech on the New Zealand economy. It found that agritech contributes $2.3 billion to the economy and supports over 10,000 jobs. The report also found that agritech has the potential to increase productivity and reduce environmental impacts.
Queenstown’s reputation takes a hit as housing crisis worsens
Queenstown’s housing crisis has worsened, leading to a decrease in its reputation as a desirable place to live. This has been caused by a lack of housing, high rental prices, and an influx of people coming to the area. This has caused a strain on the local infrastructure and has led to an increase in homelessness.
High demand for Auckland CBD office, retail space
Demand for office and retail space in Auckland CBD is increasing as the city returns to life. This is due to the city’s strong economy, population growth, and the government’s focus on infrastructure. This has resulted in a shortage of available space, pushing up rental prices and creating competition for tenants.
NZ dollar appeal down 3 percent after halt on further OCR hike
The New Zealand dollar has dropped 3% after the Reserve Bank of New Zealand announced that it will not be raising the Official Cash Rate any further. This decision has caused the NZD to lose its appeal to investors.
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