New Zealand’s government will raise as much as NZ$736 million ($639 million) from the initial public offering in Genesis Energy Ltd., the nation’s biggest electricity retailer.
New Zealand’s Labour Party can widen the central bank’s mandate without jeopardizing the control of inflation if it wins this year’s election, finance spokesman David Parker said.
New Zealand’s dollar, the best- performing major currency this year, is too strong and poses a challenge for the nation’s exporters, according to Finance Minister Bill English.
The following is a selection of the most important news affecting the oil market.
New Zealand’s annual economic growth exceeded 3 percent for a second straight quarter, buoyed by dairy exports, adding to signs of increasing inflation pressure that may require higher borrowing costs.
New Zealand’s government began marketing the sale of a stake in Genesis Energy Ltd. in the final planned asset sale ahead of elections due Sept. 20.
As a senior World Bank official in Washington from 1997 to 2010, Graeme Wheeler saw how the U.S. subprime mortgage crisis unleashed a global financial meltdown.
New Zealand’s government said it may offer a smaller stake in state-owned Genesis Energy Ltd. to boost the price after raising less than expected from its asset- sales program.
New Zealand Finance Minister Bill English said the nation’s currency is unlikely to weaken even as economic growth slows and the central bank puts interest-rate increases on hold.
New Zealand’s economic rebound is “patchy” and the government isn’t expecting a significant increase in revenue that would help narrow its budget deficit, Finance Minister Bill English said.
"Already, NZ $620 million has been committed through the bookbuild."
- Bill English on Mar 27, 2014