Any thoughts that the New
Zealand economy was improving were dispelled yesterday with
the publication of the influential New Zealand Institute of
Economic Research (NZIER) quarterly survey of business
Financial markets around the world took heart yesterday from
the G20 summit agreement on stronger regulation of financial
markets and a huge input of funding aimed at stimulating
credit markets and helping countries in financial distress.
Treasury has again significantly miscalculated the state of
the economy, with the latest government accounts showing that
tax revenue and receipts are about $1.8 billion lower than
forecast before the election.
Dunedin-based Pacific Edge Biotechnology Ltd has been awarded
a patent in Singapore for its bladder cancer diagnostic in a
step expected to eventually generate annual revenue of more
than $100 million.