Blog

Photo: 123RF The cost of sending our goods overseas has risen again due to ongoing tensions in the Red Sea. A report from the Ministry of Foreign Affairs and Trade said global shipping rates have nearly doubled since late April, however they remain far below the peak reached during the Covid pandemic. "The main reason is the current disruption in the Red Sea, which has stretched global shipping capacity, with more shipping needed to service European and Asian routes. "Since December, there has been a 50 percent fall in shipping traffic navigating the Suez Canal, offset by a 70 percent jump in sailings around the less direct Cape of Good Hope," the report said. Houthi rebels began attacking ships in the Red Sea in October last year after the start of the Israel-Hamas war. Export NZ execut...

ANZ economists have updated their forecast for the year ahead. File picture. Photo: RNZ / Marika Khabazi Falling interest rates are unlikely to be enough to boost house prices through the rest of this year, the country's biggest bank says. ANZ's economists have updated their forecast for the year ahead. Instead of 1 percent house price growth over this calendar year, they expect a drop of 1 percent. They said while they had brought forward their expectations for an official cash rate cut from February to November - and there was a chance it would be earlier still - that was because the economy was weaker than expected, which would have an effect on house prices. "On the one hand there appears to be a slightly brighter sliver of light at the end of the interest rate tunnel but on the ot...

Only casino games would be allowed for the online casinos. Photo: 123rf The government plans to auction off licences for online casinos, but is proposing a range of regulations to minimise harm and boost tax revenue. Internal Affairs Minister Brooke van Velden has outlined the system to be applied to online casinos, with a limited number of licences to be available for three-year terms with operators required to meet certain standards before offering services. New Zealand-based online casinos are illegal at present, but SkyCity Entertainment operates one based in Malta and has long called for a regulated industry. "This is not intended to increase the amount of gambling New Zealanders do, but to ensure operators meet requirements for consumer protection and harm minimisation, as well as...