Page 6 - New Zealand

Xi Jinping vows to protect foreign investors ramps up charm offensive

'Development is the top priority of the Communist Party of China in governing and rejuvenating the country,' Xi told New Zealand Prime Minister Chris Hipkins

New Zealand PM's plane so prone to breakdowns he took backup on China visit

New Zealand's aging air force fleet has a track record of stranding politicians due to mechanical problems

Man attacks diners with axe at New Zealand's Chinese restaurants, 4 hurt

At least four people were injured after a man armed with an axe allegedly attacked diners at several Chinese restaurants in Auckland, New Zealand police said, adding that suspect was arrested at scene

Cybertruck's prototype spotted arriving in New Zealand by plane: Report

Elon Musk-owned Tesla's much-awaited Cybertruck's prototype has been spotted arriving in New Zealand by plane, possibly for the electric pickup truck's last winter testing

New Zealand's economy dips into recession as higher interest rates bite

New Zealand's economy has dipped into recession as higher interest rates take their toll, new figures released Thursday show. Gross domestic product fell by 0.1 per cent in the March quarter, following a revised 0.7 per cent fall in the previous quarter, Statistics New Zealand said. That fulfils the nation's definition of a recession, which is at least two consecutive quarters of negative growth. The slowdown comes after New Zealand's central bank raised its benchmark interest rate 12 straight times to 5.5 per cent as it tries to tame inflation. The rate is at its highest level since 2008, making it more expensive for people to borrow money for homes, cars and other purchases. The Reserve Bank of New Zealand has indicated it doesn't plan to raise the rate any further for now and that its next move will be a cut. The downturn in growth was in line with economists' expectations, and the currency was little changed, with one New Zealand dollar trading at around 62 U.S. cents. Taken ov

Foreigners now flocking to New Zealand, net immigration surges in April

New Zealand has loosened immigration policy, allowing more foreign workers to enter the country to ease labor shortages that had became acute when the border was shut during the Covid-19 pandemic

India, New Zealand hold meeting, agree to work on areas of mutual interests

India and New Zealand have held first round table joint meeting, where both sides acknowledged huge potential in a mutual partnership and need for bringing in synergy for enhanced economic relations

New Zealand's bank hikes key interest rate to 5.5%; cut may follow next

New Zealand's central bank raised its benchmark interest rate again on Wednesday to 5.5 per cent but signalled its next move would be a cut, sparking a sell-off in the currency. Wednesday's quarter-point rate rise was the 12th straight hike imposed by the Reserve Bank of New Zealand since October 2021. But for the first time since the tightening cycle began, the bank projected the next move would be a cut, which would likely come later next year. The projection was more dovish than markets had expected and caused the New Zealand dollar to drop by more than 1 per cent to trade at a little below US 62 cents. Like many central banks around the world, the Reserve Bank of New Zealand has been raising rates to try and tame inflation, which in New Zealand has fallen from a recent peak of 7.3 per cent last June to 6.7 per cent. That remains well above the bank's target inflation rate of around 2 per cent. New Zealand's unemployment rate remains low at 3.4 per cent, putting upward pressur

PM Modi, New Zealand counterpart discuss full range of bilateral ties

Prime Minister Narendra Modi on Monday met his New Zealand counterpart Chris Hipkins during which they discussed the full range of bilateral ties and ways to expand cooperation in various sectors like trade and commerce, education and sports. Modi arrived here on Sunday on his maiden visit to Papua New Guinea to host a key summit between India and 14 Pacific island countries to boost bilateral ties. Modi met Hipkins on the sidelines of the Forum for India-Pacific Islands Cooperation (FIPIC) summit. "Giving fresh impetus to India-New Zealand relationship. PM @narendramodi met PM @chrishipkins of New Zealand in Port Moresby. The two leaders, in what was their first interaction, discussed expanding cooperation in various sectors including trade & commerce, education, culture, sports and people-to-people ties," the Ministry of External Affairs tweeted. "Had an excellent meeting with New Zealand PM @chrishipkins and discussed the full range of India-NZ relations. We talked about how t

Tsunami warning issued in New Caledonia after 7.7 magnitude earthquake

Earthquake hits the South Pacific French territory of New Caledonia, and tsunami warnings are issued in the coastal areas. New Zealand is also assessing the tsunami threat on its west coast.

Hostel fire that killed 6 people was arson, says New Zealand police

New Zealand police said Wednesday they believe a fire that killed at least six people in a Wellington hostel was arson and launched a homicide investigation. Police Inspector Dion Bennett said they haven't yet arrested anybody but they have a list of people they want to speak to and hope to quickly identify any suspects or persons of interest. He declined to say if they had found accelerant or other evidence of criminal behavior at the scene. Police said there had been a couch fire at the Loafers Lodge hostel about two hours before the large, fatal fire on Tuesday. They said the couch fire was not reported to emergency services at the time, and they were investigating to see if there was any link between the two fires. Bennett also told reporters there was more reconnaissance and examination to be done in some unstable parts of the four-story hostel building and his gut feeling was the death toll could rise. The homicide investigation represents a change in outlook by police, who o

At least 10 people killed in fire at hostel in New Zealand's Wellington

It has been confirmed by authorities this morning that there were no sprinklers in the building - and there are still 20 people unaccounted for

New Zealand govt to speed up 5G rollout to towns, rural black spot areas

The New Zealand government is signing contracts with major telecommunications network operators to speed up the rollout of 5G to regional towns, especially rural black spot areas, across the country.

Emergency declared in New Zealand amid floods; school student missing

Authorities in Auckland declared a state of emergency Tuesday as flooding again hit New Zealand's largest city. Further north in the city of Whangarei, a high school student was missing after a school group that was exploring caves got into trouble when floodwaters hit. Fire and emergency crews said they had responded to more than 200 calls, most of them in Auckland. Many were for floodwaters entering buildings, but they had also responded to landslides, falling trees and trapped cars. Severe weather has plagued the North Island this year. In January, four people were killed when floodwaters hit Auckland. In February, 11 people died when Cyclone Gabrielle hit. Prime Minister Chris Hipkins said it was a difficult time for the region. We will get through this. We will support Auckland through it, he told reporters. We know that it's tough coming on top of everything else that they've been dealing with, but right now my request to people is just to keep yourself safe. Authorities sa

Ex-New Zealand Prime Minister Jacinda Ardern to join Harvard this year

Former New Zealand Prime Minister Jacinda Ardern, who helped lead her country through a devastating mass shooting, will be joining Harvard University later this year, Kennedy School Dean Douglas Elmendorf said Tuesday. Ardern, a global icon of the left and an inspiration to women around the world, has been appointed to dual fellowships at the Harvard Kennedy School. She will serve as the 2023 Angelopoulos Global Public Leaders Fellow and a Hauser Leader in the school's Center for Public Leadership beginning this fall. Jacinda Ardern showed the world strong and empathetic political leadership, Elmendorf said in statement, adding that Ardern will "bring important insights for our students and will generate vital conversations about the public policy choices facing leaders at all levels. Ardern, who was just 37 when she became prime minister in 2017, shocked New Zealanders when she announced in January she was stepping down from the role after more than 5 years because she no longer h

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7.2 magnitude earthquake hits New Zealand, authorities asses Tsunami threat

Kermadec Islands of New Zealand was rocked by a 7.2 magnitude earthquake on Monday, the National Center for Seismology tweeted.According to the NCS, the earthquake occurred at 6.11 am, Indian Standard Time."Earthquake of Magnitude:7.2, Occurred on 24-04-2023, 06:11:52 IST, Lat: -29.95 & Long: -178.02, Depth: 10 Km, Location: Kermadec Islands, New Zealand," National Center for Seismology tweeted.According to the National Center for Seismology, the latitude was -29.95 and the Longitude was -178.02 while the depth of the earthquake was noted to be 10 km at the Kermadec Islands of New Zealand.No casualties have been reported so far.Further details are awaited.

Superheated storms increasingly affect people's health, say experts

"Seafood can be poisoned by silt and wastewater runoff into the sea; flooded housing can become contaminated and moldy; and the mental health impacts of storms are often hidden and underestimated"

Motherhood no hurdle to leadership: Ex-New Zealand PM Ardern quits politics

"I leave knowing I was the best mother I could be," Ardern said in her valedictory speech to parliament

New Zealand's central bank hikes key interest rate by 50 bps to 5.25%

New Zealand's central bank surprised economists on Wednesday by imposing an aggressive half-point rate rise to bring its benchmark interest rate to 5.25%. It was the Reserve Bank of New Zealand's 11th straight rate hike as it tries to cool inflation, which is running at 7.2%, far above the bank's target level of around 2%. It brings the key rate to its highest level since the Global Financial Crisis in 2008. New Zealand's benchmark rate is now among the highest in the developed world, and the bank's aggressive action stood in contrast to Australia's central bank, which on Tuesday decided to pause its round of rate hikes and leave its benchmark rate at 3.6%. Most economists had expected the Reserve Bank of New Zealand to impose a more modest quarter-point rise after the nation's economy contracted in the December quarter and a destructive cyclone hit in February, killing 11 people and causing billions of dollars in damage to homes and infrastructure. The currency rose on the ...