Business News

Regions get boost with Provincial Growth Fund

The $1 billion Provincial Growth Fund launched by the Government today will give New Zealand’s regions a boost and help unlock the potential of our rural and smaller centres, Local Government New Zealand says. The Provincial Growth Fund, launched in Gisborne today by Prime Minister Jacinda Ardern and Minister for Regional Economic Development Shane Jones, detailed the Government’s plans to help New Zealand’s regions maximise their opportunities to boost local economies. New Zealand’s regions are significant contributors to the economy but a range of factors including population and technological changes mean some have struggled. While in recent times economic growth has returned to some areas, this has been uneven and has led to stark discrepancies between sometimes neighbouring regions. LGNZ President Dave Cull says the country’s economic growth strategy needs to consider the nation as a whole and the Government’s commitment to much greater investment in regions is a welcome step. The Fund aims to enhance economic development opportunities, create sustainable jobs, contribute to community well-being, lift the productivity potential of regions, and help meet New Zealand’s climate change targets. “Revitalising the regions, especially those that are not seeing some of the growth others are experiencing, will have benefits not just for those areas but also for the rest of the country,” Mr Cull says. “National success, and achieving our goals of strong and vibrant communities, relies on realising the full economic potential of all regions.” Doing this is a complex task that requires a partnership between local and central government, communities and the private sector. The Provincial Growth Fund acknowledges the important role of local communities in deciding where and how to invest, and LGNZ will work with councils to ensure communities get the most from the Fund. “The approach the Government is taking, with a genuine intent to […]

How to have a good Fourth Industrial Revolution

Trees, please: Take a break from technology. To encourage people to examine the impact of technology on our lives, the artist Lauren McCarthy decided to try to become a human version of amazon.com’s smart home intelligence device Alexa. McCarthy installed a network of remote-controlled smart devices, from cameras and microphones to light switches and appliances, and invited volunteers to stay in her home. Then she tried to anticipate and respond to their needs – like making a bowl of popcorn when she guessed they were hungry—instead of just responding to commands like Alexa does. Get-Lauren touches on common anxieties, starting with the questions of what humans can offer that machines cannot, and what control each of us has over our future and even who we are. “By allowing these devices in, we outsource the formation of our identity to a virtual assistant whose values are programmed by a small, homogenous group of developers,” McCarthy wrote. The Fourth Industrial Revolution has ushered in new technologies that are changing where and how many of us work, what we buy and how we buy it, what we learn and what we delegate to our devices, and how we connect with each other. It’s easy for even tech-savvy individuals to feel that we are helpless in face of these tectonic shifts. What can a single person do? What power does anyone have amid massive social and economic changes? What is within our control and how do we adapt to what is out of our hands? Simply asking those questions is a good start toward managing technology instead of letting it control us. Seeking to understand the changes underway helps us to feel that we are doing something instead of facing complete uncertainty. Assessing how we use technology in the workplace, home, and community helps […]

Old thinking for modern world, Government please explain

EMA is asking the coalition Government MPs to explain how the old world thinking of the proposed Employment Relations Amendment Bill will deliver the productive, high growth economy they say they want. Via an advertising campaign using outdoor billboards, press and digital advertising it is asking Government MPs to “Please Fix the Bill”, at the same time encouraging its members to ask the same of the coalition Government. This is a national campaign involving all four members of the BusinessNZ family (EMA, Business Central, Canterbury Employers Chamber of Commerce, Otago Southland Employers Association). “We wholeheartedly agree with the Government’s goal of developing a modern, nimble and high performing economy, however we would like to understand how labour laws of yesteryear will enable this to happen,” says Kim Campbell, CEO, EMA. “We are deeply concerned that what is being proposed in the Employment Relations Amendment Bill 2018, plus a raft of other related legislation in the pipeline, is old thinking for a modern world. “New Zealand First MPs have the chance to modify parts of this legislation and work with small business to deliver an industrial relations framework that will help them grow their enterprises. “Let’s be clear. We are not against reform. But we are against poorly drafted legislation that has been cobbled together in a hurried manner. What we want is for the Government to pause, consider what the impacts of these changes could be, have an honest conversation around how placing more compulsion into the workplace will drive a modern, nimble economy and reflect on how we can work on this together in a constructive manner. “The Future of Work Forum has yet to convene. And this is the proper forum to nut out the answers to many of the above questions. Therefore it seems out of kilter […]

NZ economy – risky business

The BusinessNZ Planning Forecast for the June 2018 quarter shows that though many key economic indicators remain on the positive side of the ledger, there are a number of risks that could undermine what is currently a generally healthy outlook. BusinessNZ Chief Executive Kirk Hope says the economy is forecast to grow at around 3 percent out to June 2020, but there are risks to achieving this. Both domestic and international, these are combining to keep business confidence in the doldrums. “Policy uncertainty and some ad hoc changes are likely to be driving this continuing nervousness,” Mr Hope says. “These include the political, rather than economic, rationale for effectively banning the issuance of future offshore oil and gas exploration licences. “The jury is still out on whether the range of Taskforce and Working Groups set up will provide consistent policy outcomes that promote increased business competitiveness. “And though the agricultural sector is enjoying higher lamb and dairy prices on the back of improved global demand, the outbreak of mycoplasma bovis will affect productivity.” Internationally, growth forecasts remain solid. However higher inflationary pressures are resulting in rising interest rates, affecting the cost of capital. For equity markets, the potential for a significant market correction cannot be ruled out. Concern remains over the potential escalation of international trade retaliation with more inward-looking international agendas, particularly triggered by moves from the US to increase tariffs on certain products, imposing trade barriers on international trade. The BusinessNZ Economic Conditions Index sits at 9 for the June 2018 quarter, up 2 on the previous quarter and down 5 on a year ago. The Index tracks 33 economic indicators including GDP, export volumes, commodity prices, inflation, debt, and business and consumer confidence. The BNZ – BusinessNZ Performance of Manufacturing Index (PMI) and its sister survey, the […]

Chamber welcomes Council decision on stadium, roads and water in final LTP

The Canterbury Employers’ Chamber of Commerce has welcomed the decision by the Christchurch City Council to prioritise key work in the final LTP agreed to today says CEO Leeann Watson. “We welcome the decisions to accelerate the Stadium project, prioritise the improvement of our worst roads and footpaths, and deal with some of the flooding issues we have in the city. We also welcome the decision around the funding boost for ChristchurchNZ ensuring we can compete to attract major events and the economic benefits they provide to the city” However, The Chamber is disappointed the Council has not been bolder in its approach. “The Chamber’s submission on the Council’s Draft LTP 2018-2028 recommended the development of a new approach to maximise the release of capital from the assets the city owns and sought a commitment to developing an innovative approach to managing assets and services,” said Ms Watson The Chamber’s submission on the Draft LTP recommended: – A commitment to work at pace to get our city not only back to what we would expect from New Zealand’s second largest city, but one focussed on maximising opportunities to develop a vibrant, prosperous and sustainable 21st century city. – A new approach to maximise the release of capital from the assets the city owns, and a commitment to developing an innovative approach to managing assets and services. – A commitment to finding efficiencies in current spending. – A strong pathway indicating investment in infrastructure to ensure we are on the events calendar again in Christchurch, and specifically the delivery of a Multi-Use Arena. – Overall, a commitment to a new, innovative way of thinking that will ensure we can deliver on the vision that the Council is espousing. “We’re pleased the Council supported some of the changes we advocated. However, we […]

Internet of Manufacturing Study Tour – What can we learn from the USA?

Thirty seven representatives from twenty six New Zealand and three Australian manufacturing companies, two business organisations (The Manufacturers’ Network and the EMA) and two government funded innovation agencies (Callaghan Innovation and the Australian IMCRC) have all combined into a study group to investigate advanced manufacturing technology at the Internet of Manufacturing Conference in Chicago and through visits to a number of U.S. manufacturing companies last week. The week was an exciting opportunity to gain insight into what U.S companies are doing in the networked manufacturing and Industry 4.0 space. There is a lot New Zealand manufacturers can learn about what works and what doesn’t – however, at the end of the day, Kiwi manufacturers have to find what works for them. It starts with getting LEAN / Continuous Improvement processes in order and incrementally investing in technology which provides the greatest productivity improvements for their business. The trip included a visit to Haas, a global brand in CNC machines, and a remarkable success story of a manufacturer that has managed to grow rapidly while keeping all of its manufacturing activities in the USA. We also visited the Trumpf Smart Factory in Schaumburg, Chicago. This is a fully operational sheet metal factory that functions as a technology showcase for sales purposes and as an Industry 4.0 technology test lab at the same time, focusing on end-to-end integration of systems and processes. We were able to see an example of individually-customised products coming through the production line, from start to finish, making use of advanced manufacturing technology to make such customisation possible. We also visited two industry-good organisations that were really impressive. One was the Digital Manufacturing and Design Innovation Institute (DMDII), part of UI Labs, a collaboration between industry, government agencies and several universities, with a simple mission statement – […]

Embrace the fourth industrial age—or become a backwater

By Albert Palazzo The world is on the cusp of a new industrial age—the fourth. As with previous industrial ages, those who embrace it first stand to become the dominant powers of the future and will seize the right to set the rules that define the age. Those that are late to the party will struggle to secure their place and avoid a decline into humanity’s future backwaters. Australia has a choice to make: whether to undergo the social, political and cultural disruption that will result from the embrace of emerging technologies, or to continue to support an economy based on the status quo. In making this choice, Australia will also determine its security future. One of the likely changes of the fourth industrial age to which Australia will need to adapt is the decline in relative value of primary resources and manufactured goods compared to information. The rapid growth of additive manufacturing (3D printing) demonstrates this point. 3D factories, using very few staff, are coming into existence. These factories have certain advantages over current means of production. Being additive, 3D printers are very efficient and require less feed stock—iron ore for example—than traditional subtractive manufacturing. They can also be located anywhere, and be arrayed as individual units or in their thousands. That will promote distributed manufacturing. Many countries in Asia, including China, have chosen to lift their people out of poverty by becoming the manufacturer to the ‘Walmarts’ of the world. That model will come undone when every Australian, European, American and even Asian home has a 3D printer with which families can print whatever they want, from food to high-quality clothes and beyond. Value will cease to reside in the product, but will be found in the design. And as the economic foundations of the developing world fail, instability and social collapse […]

Revered nation’s Statoil explorations hushed up here

Norway’s Statoil is one of the major international investors in oil exploration in the New Zealand jurisdiction. Statoil (State oil) operations include among others the 28,000 square kilometre permit in the East Coast and Pegasus basins, southeast off New Zealand’s North Island. Norway was among the most fervent backers of the Paris Climate accords. Norway with a population similar to New Zealand’s has accumulated from its oil developments a sovereign wealth fund superior to Saudi Arabia’s. At a time when New Zealand is in the throes of shutting down its oil exploration sector, Norway, held up as an example of nationwide Green values, seeks to develop its already immense resources. The fact that this Green-revered nation is also one of the major current oil explorers in the New Zealand jurisdiction has been deliberately ignored. The Statoil revelations come at the same time as indications that under pressure to appease its doctrinal wing the Labour coalition government introduced the exploration ban even when it was receiving indications of the presence in New Zealand of Mycoplasma bovis. So far officials have sat on the real problem which is that the existence of the pathogen in New Zealand will give international buyers, already looking at a global over-supply, the opportunity to break contracts. The plausibility notion behind the original anti- oil campaign was to allow New Zealand, in its own popular parlance, to “punch above its weight” in international forums of the well-intentioned kind. Now, in contrast, New Zealand is looking silly having wilfully signalled the end of a major locomotive, pulling, force in its economy at a time when its main force, dairy, was entering a period, to put it mildly, of uncertainty. This in turn is compounded because the main region of oil exploration and production in New Zealand is Taranaki […]

New innovations improving primary industry

Day two of the 50th New Zealand Agricultural Fieldays kicked off with the Innovations Awards breakfast where a selection of New Zealand’s top innovations were on display, all with creative ideas on improving New Zealand’s agricultural industry. New Zealand National Fieldays Society CEO Peter Nation spoke of the importance of innovations at the National Agricultural Fieldays. “One of the main reasons the New Zealand agricultural industry is so recognised and respected around the world is because of the innovations coming from awards like these. The people here today are shaping the future of farming and will be making major changes in in the industry in another 12months.” Says Nation. The entrants were supported by a group of knowledgeable and insightful sponsors who have provided advice around law, research, networking, engineering, technology and science. Judges spoke of how the winners were successful at picking good problems to solve and being very creative in the way they solve them. Innovations that were easy to use, cost-effective, efficient and enhanced value came away with top honours. The 2018 Innovation Award winners are: Fieldays Grassroots Prototype Award – Acuris Systems This prototype robot, autonomously navigates kiwifruit orchards while capturing highly accurate fruit data. This data is then analysed to provide growers with quality information and insights to their orchards performance. Fieldays Grassroots Established Award – Pamu Farming New Zealand Landcorp has just completed its second season of deer milking in partnership with the Peter and Sharon McIntyre. Significant, world first research and intellectual property has been developed from behind the farm gate through to a finished RMP approved product which Pāmu Foods can now use to assess market demand and price tolerance. Fieldays Prototype Highly Commended – Maraeroa C Incorporation. Ginseng Berry Gin is a New Zealand first made from ginseng berries grown in […]

NZ company helping to uberise science

A New Zealand company that is at the forefront of the global fight against air pollution is collaborating with the United States Environmental Protection Agency (EPA) to help advance the research and development of next generation air sensor technology. A five-year Cooperative Research and Development Agreement (CRADA) was signed between the EPA and Aeroqual. The New Zealand-based company has decade long pioneering work in the development of small, low-cost portable equipment that even school children can use. Announcing the agreement, the EPA said next generation air monitoring tools are new technological advances that are increasingly being used by researchers and citizen scientists alike to monitor and measure air quality. EPA’s co-investigators Rachelle Duvall and Russell Long – who will work alongside Aeroqual leads Geoff Henshaw and Kyle Alberti – said the next generation tools are so much more accessible compared to the large, stationary monitors. Duvall says the EPA will benefit from the collaboration by combining their expertise in air measurements with Aeroqual’s expertise in sensor development to advance air quality characterisation using next generation air monitoring tools. “Because these tools are so much more accessible compared to traditional air monitoring equipment and are being used by not only the scientific community but also the general public, it is important for all users to have confidence in the data they are collecting.” The CRADA between Aeroqual and the EPA will investigate new applications, methodologies and technologies for the low-cost measurement of outside air pollutants. While current low-cost air sensors measure common air pollutants, like ozone (O3), nitrogen dioxide (NO2), sulphur dioxide (SO2), particulate matter (PM) (among others), the EPA is also interested in measuring other compounds including air toxics such as volatile organic compounds (VOCs) which cause adverse health effects. Duvall said she hopes the two organisations will improve some […]

«‹ 79 80 81 82 ›»

News Ticker

Business News