First-home buyers around the country are already becoming
better off with the decline of banks' mortgage interest
rates, as home affordability comes a step closer.
A privately owned property portfolio of 19 supermarket sites
around the country - possibly valued at several hundred
million dollars - has been put up for sale.
The New Zealand dollar surprisingly traded up half a cent
against its US counterpart, after the Reserve Bank cut the
official cash rate by 25 basis points yesterday.
The Reserve Bank's interest rate cut yesterday is expected to
keep price pressure on Auckland's heated market, with more
cuts in the pipeline this year.
Port Otago outlined several new projects to 100%-owner the
Otago Regional Council yesterday, including warehouse
expansion, earthworks at Flagstaff Hill overlooking Port
Chalmers and Dunedin property developments.
The first sub-$4 dairy forecast payout has been posted - of
between $3.65 and $3.95 per kilo of milk solids for the
current season - by Open Country Dairy, the country's second
largest milk processor.
China's offloading of 33 tonnes of gold in two minutes in
Shanghai has pushed global gold spot prices to a five-year
low - raising $US1.3billion ($NZ1.97billion) for the Chinese
A red flag has gone up over the level of finished product
being held by Fonterra and its potential to be written down
in value, further undermining the giant milk processor's
Niche producer a2 Milk Company's board has rejected last
month's takeover talks, and confirmed other ''interested
parties'' were also seeking a stake in the company.
China's staggering sharemarket rout of more than $US3
trillion ($NZ4.6 trillion) has shown the level of volatility
to which China is exposed.
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