Construction activity is likely to soar this year after the
number of building consents issued reached their highest
level for seven years in November.
In an intriguing move, New Zealand Oil and Gas (NZOG) has
acquired 20% of Australian-listed oil and gas explorer Cue
Energy, buying its stake from Todd Energy.
New Zealand is in the midst of a period of modest deflation.
But it is not born of weak domestic demand.
Forsyth Barr acted swiftly yesterday in downgrading The Warehouse Group's
prospects for the current financial year after the unexpected
profit downgrade announced earlier.
The Warehouse Group trading update released yesterday was
described as a ''shocker'' after the company downgraded its
profit forecast for the first half of the trading year ending
on January 25.
Whole milk powder prices were yet to show the type of
recovery required to support Fonterra's $4.70 per kilogram of
milksolids farm-gate milk price, Forsyth Barr broker Andrew
Rooney said yesterday.
Otago had a rush of new property listings in December, an
increase of 22.1% compared with December last year, and the
second-highest increase in the country behind Wellington.
Oil prices have tumbled to fresh five and a-half-year lows as
Saudi Arabia ruled out cutting production and commentary
indicated no early end to the supply glut.
The prospects of further interest rate rises by the Reserve
Bank become more distant by the day as oil prices plunge,
along with prices of other resources.
Oil and gas exploration in New Zealand could slow as the
price of oil continues to slide and some projects become
uneconomic, Craigs Investment Partners Peter McIntyre said
cars for sale
Submit your news & photos - Login or
Opinion? Have your say - Login or Register
event or notice
Add a photo
Make ODT my
Otago Daily Times print and digital edition, The
Star - Dunedin, The News - Central Otago, The
Ensign - Gore, Southland Express -
Invercargill, The Courier - Timaru, Queenstown Times - Queenstown, Mountain Scene -
Queenstown, Extra! schools
Times South Canterbury