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☆ Explainer: When is the New Zealand prime minister election and how will it work?
▼ + stars: | 2023-01-20 | by ( Lewis Jackson | ) www.reuters.com time to read: +2 min

SYDNEY, Jan 20 (Reuters) - New Zealand Prime Minister Jacinda Ardern will step down no later than Feb. 7 after a shock resignation on Thursday in which she said she "had no more in the tank". Leadership hopefuls will gather on Sunday when the centre-left Labour party caucus meets to elect a new leader, who will become prime minister. With Labour holding a majority in parliament, whoever they elect will become prime minister, helming the country for a little more than eight months before a general election set for Oct. 14. The caucus vote will be weighted at 40%, party members at 40% and unions at 20%. Transport Minister Michael Wood and Minister of Justice Kiri Allan are newer faces in parliament, elected in 2016 and 2017, respectively.

☆ PM Ardern shocks New Zealand, says she is stepping down
▼ + stars: | 2023-01-19 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, Jan 19 (Reuters) - New Zealand Prime Minister Jacinda Ardern on Thursday made a shock announcement she had "no more in the tank" to continue leading the country and would step down no later than early February and not seek re-election. Ardern, holding back tears, said that it had been a tough five and a half years as prime minister and that she was only human and needed to step aside. A ruling New Zealand Labour Party vote for a new leader will take place on Sunday; the party leader will be prime minister until the next general election. New Zealand Deputy Prime Minister Grant Robertson, who also serves as finance minister, said in a statement he would not seek to stand as the next Labour leader. Ardern said she was not stepping down because the job was hard, but because she believed others could do a better job.

WELLINGTON, Jan 19 (Reuters) - The shock resignation of New Zealand Prime Minister Jacinda Ardern, who altered the face of global politics when she was elected the world's youngest female head of state, throws a spotlight on the demands faced by women in power. "We need people like Jacinda Ardern in politics. [1/2] New Zealand Prime Minister Jacinda Ardern during the Australia-New Zealand Leaders' Meeting at the Commonwealth Parliamentary Offices in Sydney, Australia, on Friday, July 8, 2022. "Certainly she really challenges the male stereotype of being a prime minister." Former Prime Minister Helen Clark said Ardern had done an "extraordinary job" in leading New Zealand through major crises.

☆ Candidate to replace NZ Ardern to start making their bids
▼ + stars: | 2023-01-19 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, Jan 20 (Reuters) - Candidates to replace Jacinda Ardern as the country's prime minister after her shock resignation are expected to start to emerge on Friday ahead of a leadership vote on Sunday. If a candidate is unable to secure two thirds of the available votes, the leadership contest will go to the wider membership. The winner will become prime minister until the next general election. Ardern's term as leader will conclude no later than Feb. 7 and a general election will be held on Oct. 14. Commentators point to a number of Ardern's ministers as possible candidates for the role, including the former COVID minister and current Minister of Education and Police Chris Hipkins and current Minister of Justice Kiri Allen.

Her successor as Labour leader and prime minister faces a stern test in a general election in October, with support for the party falling and the country expected to fall into a recession next quarter. Despite her high global profile, Ardern's Labour Party has slid in the polls, hurt by rising living costs, growing crime and concern about social issues. That meant that even with traditional coalition partner the Green Party, polling at 9%, Labour could not hold a majority. Ardern most likely stepped down to give the Labour Party a chance to refresh and reposition itself ahead of an election in October, experts said. CONSERVATIVES BUOYEDThe conservative National Party may be buoyed by Ardern's resignation.

☆ New Zealand business confidence at lowest since 1974
▼ + stars: | 2023-01-16 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, Jan 17 (Reuters) - New Zealand's business confidence in the fourth quarter of last year hit its lowest level since 1974 as companies grapple with higher interest rates, cost pressures and soft demand, a private think tank said on Tuesday. A net 70% of firms surveyed expected general business conditions to deteriorate compared with 42% pessimism in the previous quarter, the New Zealand Institute of Economic Research's (NZIER) quarterly survey of business opinion (QSBO) showed. It added that business confidence is now at its lowest level since 1974, while on a seasonally adjusted basis it is the weakest since the survey started in 1970. On a seasonally adjusted basis, 73% expected business conditions to worsen, versus 43% pessimism recorded in the previous period. NZIER said the survey was undertaken following the more hawkish than expected central bank meeting in November and this was weighing on sentiment.

☆ New Zealand breweries see CO2 rationing as shortage hits
▼ + stars: | 2023-01-10 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

REUTERS/Phil NobleJan 10 (Reuters) - New Zealand supplies of carbon dioxide (CO2), used to fizz drinks and in packaging and hospitals, are having to be rationed because of shortages following the closure of the country's only food-grade CO2 production facility. "We are working collaboratively with suppliers, customers and other industry stakeholders to manage the CO2 supply situation," it added. The rationing is the result of the shut down of a CO2 production facility on west coast of the North Island. To try to fill that gap, CO2 imports almost tripled last year, according to Statistics New Zealand data. ($1 = 1.5708 New Zealand dollars)Reporting by Lucy Craymer in Waipu, New Zealand; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

☆ New Zealand won't require Chinese arrivals to show COVID-19 test
▼ + stars: | 2023-01-04 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, Jan 4 (Reuters) - The New Zealand government said on Wednesday it would not require travellers from China to produce a negative COVID-19 test, bucking a trend that has seen a number of nations implement such measures as cases surge in China. New Zealand's COVID-19 minister, Ayesha Verrall, said in a statement that a public health risk assessment had concluded visitors from China would not contribute significantly to the number of cases in the country. "There is minimal public health risk to New Zealand," she said. All international arrivals in New Zealand are asked to test if they become symptomatic and the country provides free tests at the airport. New Zealand is also planning to trial testing waste water on international flights to see if this can replace targetted and voluntary testing of individuals.

Leaving parliament on Saturday, Rabuka told waiting media he was humbled to have become the prime minister of Fiji before being rushed away to be sworn in by the country's president. Biman Prasad, leader of the NFP and the new finance minister, said the incoming government would work for the Fijian people. The prime ministers of both New Zealand and Australia released statements to congratulate the newly sworn-in Rabuka. "We strongly value Fiji as a close friend and partner as we progress our shared priorities for the region," New Zealand Prime Minister Jacinda Ardern said. Anthony Albanese, Australia's prime minister, added in a tweet that he also looked forward to working with Rabuka.

☆ Fiji’s king maker party SODELPA votes to support opposition coalition
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: 1 min

SYDNEY, Dec 23 (Reuters) - Fiji's Social Democratic Liberal Party (SODELPA) said on Friday that it would form a coalition with two other parties, a move that will dislodge current Prime Minister Frank Bainimarama. "We believe we have agreed on a way forward that benefits this country," party leader Viliame Gavoka said in a news conference after an internal party vote. The Pacific island nation's military was called in on Thursday to help police maintain law and order. read moreReporting by Kirsty Needham and Lucy Craymer; writing by Praveen Menon; editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

WELLINGTON, Dec 23 (Reuters) - Fiji's Social Democratic Liberal Party (SODELPA) is due to meet on Friday to decide if its decision to form a coalition with the opposition stands, a move that comes after the Pacific country's military was called in to help police maintain law and order. Fiji is waiting for its president to recall parliament so lawmakers can vote for a new prime minister after a national election last week showed no party received a clear majority. SODELPA, a power-broker holding three seats in the hung parliament, supports policies favouring indigenous Fijians, and on Tuesday signed a coalition agreement with the People's Alliance and the National Federation Party. However, the SODELPA's board is to meet again on Friday, after the validity of the decision to back the coalition was challenged by the party's general secretary and Fiji's Supervisor of Elections. However, opposition parties accuse Bainimarama and his allies of stoking fears of ethnic trouble as a pretext to cling to power.

Prime Minister Frank Bainimarama's Fiji First has not conceded defeat, while a coalition of three parties say they have a combined majority and have agreed on People's Alliance leader Sitiveni Rabuka as prime minister. In a statement on Facebook, Bainimarama said the military "has been deployed to complement the Police in maintaining law and order". Bainimarama has been prime minister for 16 years, taking power in a coup, and later winning two democratic elections in 2014 and 2018. New Zealand's Foreign Minister Nanaia Mahuta said New Zealand was "aware of the statement from Fiji's Police Commissioner". The prime minister must be voted in by more than 50% of lawmakers on the parliament floor.

SYDNEY, Dec 21 (Reuters) - Fiji's parliament has delayed its first sitting, where it had been expected a new prime minister would be sworn in to the Pacific islands nation for the first time in 16 years. People's Alliance leader Sitiveni Rabuka is expected to become prime minister, after three parties signed a coalition agreement on Tuesday after a hung election. The deal would dislodge Fiji First's Frank Bainimarama, who has led Fiji since a 2006 coup. read moreThe constitution requires lawmakers to elect the prime minister from the parliament floor if no one party has won more than 50% of seats. On Wednesday morning New Zealand Prime Minister Jacinda Ardern said New Zealand was yet to congratulate Rabuka as it waited until the "dust settles and there is finality over processes".

☆ Fall in New Zealand confidence raises spectre of deeper recession
▼ + stars: | 2022-12-21 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, Dec 21 (Reuters) - Confidence in New Zealand has slumped in recent weeks, raising concerns the country might be headed toward a deeper recession than most have forecast. The December ANZ Consumer Confidence survey released earlier on Wednesday dropped to its lowest since it began in 2004 and followed on from the Westpac quarterly confidence survey on Monday which also recorded its lowest level since it began in 1988. The ANZ Business Confidence survey also reached a record low. "There can be no doubting the sombre economic mood across the nation at present," Bank of New Zealand Senior Economist Doug Steel said in a note. He said this slowdown was needed to cool inflation pressures but the business confidence survey did not show signs of cost pressures easing.

☆ New Zealand economy grows strongly in Q3, but recession clouds ahead
▼ + stars: | 2022-12-14 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, Dec 15 (Reuters) - New Zealand's economy grew strongly in the third quarter as its international borders fully reopened and travel spending rose sharply, while increased spending in the construction sector boosted building and engineering activity. Official data out on Thursday showed gross domestic product (GDP) rose 2.0% in the September quarter, more than double forecasts for a 0.9% gain and improving on the revised 1.9% rise seen in the second quarter. Annual growth jumped to 6.4%, as healthcare, travel and construction all saw significant growth, while gains were influenced down by the timing of various lockdowns in comparative periods. The strong growth looks set to fade, however, with expectations the central bank’s aggressive tightening cycle will push the economy into a recession next year. On Wednesday, the Treasury forecast the country would see three quarters of negative growth starting in the second quarter of next year, while the Reserve Bank of New Zealand is even more pessimistic, having forecast a year-long recession beginning in the second quarter of next year.

☆ New Zealand economy grows more strongly than expected
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: 1 min

WELLINGTON, Dec 15 (Reuters) - New Zealand's economy grew more strongly than expected in the last quarter in part due to increases in spending on travel now that the country's borders are fully open, along with more activity in the construction sector. Official data out on Thursday showed gross domestic product (GDP) rose 2.0% in the September quarter, beating forecasts of a 0.9% gain and improving on the revised 1.9% rise seen in the second quarter. Annual growth jumped to 6.4%, as health care, travel and construction all saw significant growth. However, that was also biased down by the timing of various lockdowns in 2021. Reporting by Lucy Craymer Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ New Zealand's Ardern hopes to lead trade mission to China once border controls allow
▼ + stars: | 2022-12-09 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, Dec 9 (Reuters) - New Zealand Prime Minister Jacinda Ardern said on Friday she hoped to lead a trade mission to China once border settings are changed to allow travel to her country's biggest trading partner as it emerges from the pandemic. Ardern said New Zealand's trade and economic links with China have proven resilient, despite the challenges of COVID. Delivering a speech marking 50th anniversary of diplomatic relations between the two countries, Ardern said New Zealand's relationship with China was important but complex and evolving. Ardern said "we continue to recognise that there are areas where China and New Zealand do not agree, where our interests or world view differ." While Australia's relationship with China has deteriorated, New Zealand and China's interactions have remained largely cordial.

☆ New Zealand Navy idles ships as labour crisis hits
▼ + stars: | 2022-12-07 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

The bottom line is "workforce issues are impacting ship availability to deliver naval outputs," an August note from the Chief of the Defence Force Air Marshal Kevin Short to the Minister of Defence said. The Defence Force said in May that it would spend 90 million New Zealand dollars ($57 million) over four years to raise the salaries of the lowest-paid workers. Having so few ships available makes it harder for the navy to handle multiple challenges at once, a New Zealand Defence Force (NZDF) spokesperson said. New Zealand's Defence Force is also dealing with ageing equipment and a large number of personnel being assigned to border quarantine facilities. Minister of Defence Peeni Henare acknowledged in an email that staff losses were hurting the Defence Force, but said the government was committed to rebuilding it.

☆ New Zealand announces review of its handling of COVID-19 pandemic
▼ + stars: | 2022-12-05 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, Dec 5 (Reuters) - The New Zealand government said on Monday it would launch an inquiry into the country's handling of the COVID-19 pandemic so future governments could learn from the experience. A Royal Commission, a public inquiry of the highest level in New Zealand, would look at the overall response, the government said in a statement. That would include considering economic measures, such as fiscal and monetary policy responses but without reviewing particular central bank decisions. The aim would be identifying lessons that could be applied in a future pandemic. The government's financial response is also now being blamed by some political opposition parties for contributing to three-decade high inflation.

☆ New Zealand plans law to require Facebook, Google to pay for news
▼ + stars: | 2022-12-04 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, Dec 5 (Reuters) - The New Zealand government said it will introduce a law that will require big online digital companies such as Alphabet Inc's (GOOGL.O) Google and Meta Platforms Inc (META.O) to pay New Zealand media companies for the local news content that appears on their feeds. "New Zealand news media, particularly small regional and community newspapers, are struggling to remain financially viable as more advertising moves online," Jackson said. "It is critical that those benefiting from their news content actually pay for it." The new legislation will go to a vote in parliament where the governing Labour Party's majority is expected to pass it. Australia introduced a law in 2021 that gave the government power to make internet companies negotiate content supply deals with media outlets.

☆ RBNZ Governor says central bank policy now officially contractionary
▼ + stars: | 2022-11-23 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, Nov 24 (Reuters) - New Zealand's central bank governor said on Thursday benchmark interest rates needed to go higher and the country also needed to go into recession to get spiralling inflation under control, which would mean pain for some home owners. As we've said before, inflation is no one's friend and causes economic costs," Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr told a committee at parliament. New Zealand's central bank raised its official cash rate by a record 75 basis points to a near 14-year peak of 4.25% on Wednesday as it struggles to contain inflation near three-decade high. The central bank surprised the market with its hawkish tone and forecast that rates would now peak at 5.5%, compared with a previous forecast of 4.1%. He added that the central bank committee realised it need to do more and sooner to break that spiral.

☆ New Zealand increases funding for Vanuatu wharves
▼ + stars: | 2022-11-23 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

[1/2] New Zealand Foreign Minister Nanaia Mahuta speaks during a session of the UN Human Rights Councill in Geneva, Switzerland February 28, 2022. New Zealand's Foreign Minister Nanaia Mahuta said in a statement on Wednesday that building climate-resilient wharves and establishing reliable and regular shipping services would help the prosperity and wellbeing of the people of Vanuatu. The project is part of the Vanuatu Inter-Island Shipping Support Project, which has among a number of projects, has completed two wharves. New Zealand, alongside the government of Vanuatu and the Asian Development Bank, has been a co-financier of the project since 2012. Foreign investment in wharves in Vanuatu came into the spotlight in 2018 following media reports China wanted to establish a military base in Vanuatu after funding a wharf big enough to handle large warships.

☆ New Zealand's central bank raises rates by 75bps
▼ + stars: | 2022-11-23 | by ( Lucy Craymer | ) www.reuters.com time to read: 1 min

WELLINGTON, Nov 23 (Reuters) - New Zealand's central bank raised interest rates by 75 basis points to a near 14-year high of 4.25% on Wednesday and flagged more hikes to come as it struggles to contain stubbornly high inflation. Fifteen of 23 economists in a Reuters poll forecast the Reserve Bank of New Zealand (RBNZ) would move by 75 basis points, the ninth straight hike since it began tightening in October 2021. It now expects the cash rate to peak at 5.5% in September 2023, according to the monetary policy statement. Reporting by Lucy Craymer; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

WELLINGTON, Nov 22 (Reuters) - New Zealand's central bank is expected to deliver its biggest ever rate point hike this week as it continues efforts to temper inflation ahead of a three-month break. A Reuters poll found 15 of 23 economists expect the central bank to lift the cash rate by a record 75 basis points. HOME AND AWAYNew Zealand-based economists are more hawkish than their international counterparts, unanimously expecting the central bank to hike by 75 basis points. The central bank will also release new economic forecasts and potentially an updated cash rate track. "It all comes down to the language around the OCR (official cash rate) track and its shape," said Kiwibank in a note.

☆ New Zealand delivers record rate hike, flags more to come
▼ + stars: | 2022-11-22 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

The Reserve Bank of New Zealand (RBNZ) raised the official cash rate (OCR) by 75 basis points to 4.25%, its highest since January 2009. The RBNZ also increased the projected peak for the cash rate to 5.5% in September 2023 where it expects it to remain into 2024. The RBNZ has remained more hawkish than its Australia counterpart, which has slowed its rate increases in recent months. Wednesday's ninth straight hike means the cash rate has now risen 400 basis points since October 2021 and is the most aggressive tightening by the central bank since 1999 when the cash rate was introduced. Worrying the bank is non-tradeable inflation--or prices for goods that are not exposed to global markets--which is running at a record.

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