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Retailers will be pleased by news reports that Revenue Minister Todd McClay is taking a paper to Cabinet this month that will allow New Zealand retailers to compete on a fair basis with foreign websites by substantially reducing the threshold at which GST and duty is levied on imported goods.
ASB has reduced its one-year home loan fixed interest rate special to 4.69% p.a for a limited time.
Business confidence slipped further into the red in July. Other indicators are holding up better but still flag an economy that's slowing, according to the July ANZ Business Outlook survey.
InternetNZ held its Annual General Meeting last night and its members voted on a new Council for InternetNZ.
Jamie Baddeley was successfully re-elected as President and Joy Liddicoat was also re-elected as Vice President.
The Majestic Church in Christchurch has sold its high profile Cranmer Court site to a joint venture that is planning an upmarket residential development.
The site is on the corners of Kilmore, Montreal and Peterborough Streets, opposite Cranmer Square.
By Ric Spooner (Chief Market Analyst, CMC Markets)
NgÄi Tahu Property Chief Executive, Tony Sewell, has announced that he will be leaving NgÄi Tahu Property to explore new business opportunities.
Australia is proposing changes to its GST import threshold to try to even the playing field for its local retailers.
- The USD advanced as markets continued to digest the post-meeting FOMC statement.
- Headline Q2 US GDP data disappointed expectations, but underlying details were better and Q1 GDP growth was also revised higher.
By Betty Lam (Sales Trader, CMC Markets)
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