{"id":12880,"date":"2024-02-16T07:30:30","date_gmt":"2024-02-15T18:30:30","guid":{"rendered":"https:\/\/crunchaccounting.co.nz\/?p=12880"},"modified":"2024-02-15T20:40:47","modified_gmt":"2024-02-15T07:40:47","slug":"business-update-16-february-2024","status":"publish","type":"post","link":"https:\/\/crunchaccounting.co.nz\/business-update-16-february-2024\/","title":{"rendered":"Business Update \u2013 16 February 2024"},"content":{"rendered":"<p>Welcome to our Weekly Business Update \u2013 stay in the know with some recent news updates relevant to business and the economy.<\/p>\n<h2>NZ beef and lamb exporters hope for New Year boost in China<\/h2>\n<p>Companies are <a href=\"https:\/\/www.rnz.co.nz\/news\/country\/508811\/nz-beef-and-lamb-exporters-hope-for-new-year-boost-in-china\" target=\"_blank\" rel=\"noopener\">hopeful Chinese shoppers will buy New Zealand red meat this Chinese New Year<\/a>. Meat processor Alliance is busy pushing New Zealand lamb, beef and venison into China \u2013 just in time for Chinese New Year celebrations, which kick off when the new moon rises on 20 February.<\/p>\n<h2>Super Fund\u2019s returns back in black after stellar year for stocks<\/h2>\n<p>The New Zealand Superannuation Fund has <a href=\"https:\/\/www.nzherald.co.nz\/business\/super-funds-returns-back-in-black-after-stellar-year-for-stocks\/7C5YVNQNN5FU7OPWCA4KR7HOCU\/?lid=jzlbft9h94gb&amp;utm_source=newsletter&amp;utm_medium=nzh_email&amp;utm_campaign=News_Direct_Business_Headlines&amp;uuid=24000100d9764715a6452c56f10570ae\" target=\"_blank\" rel=\"noopener\">made up for previous losses<\/a> with a 16.03 per cent return in 2023, taking its worth to almost $70 billion.<\/p>\n<h2>ANZ picks two more Reserve Bank rate hikes ahead<\/h2>\n<p class=\"\">Strong employment data has prompted <a href=\"https:\/\/www.nzherald.co.nz\/business\/grim-warning-anz-picks-two-more-reserve-bank-rate-hikes-ahead\/KK35EIGCIVBUDIRFRJYUABAHPE\/?lid=ha6nhq23sgk3&amp;utm_source=newsletter&amp;utm_medium=nzh_email&amp;utm_campaign=Top_Stories_Newsletter&amp;uuid=24000100d9764715a6452c56f10570ae&amp;utm_content=1.+USE+THIS+ONE\" target=\"_blank\" rel=\"noopener\">ANZ economists to change their forecast<\/a> for the Reserve Bank\u2019s rate path this year. In bad news for mortgage holders, it is now forecasting<b>\u00a0<\/b>25 basis point hikes in both February and April, taking the OCR to 6 per cent \u2013 from its current level at 5.5 per cent.<\/p>\n<h2>Westpac lowering some fixed housing rates, term deposits<\/h2>\n<p class=\"\">Westpac says it will <a href=\"https:\/\/www.nzherald.co.nz\/business\/westpac-lowering-some-fixed-housing-rates-term-deposits\/565POA7FYJA7RD3HANBX5ETSHA\/?lid=ugyycj7ucc7i&amp;utm_source=newsletter&amp;utm_medium=nzh_email&amp;utm_campaign=Top_Stories_Newsletter&amp;uuid=24000100d9764715a6452c56f10570ae&amp;utm_content=1.+USE+THIS+ONE\" target=\"_blank\" rel=\"noopener\">lower fixed housing rates<\/a> across a range of terms from one year to five years. The bank said it would decrease some fixed home loan rates from 10 to 20 basis points.<\/p>\n<h2>Auckland fuel tax ending<\/h2>\n<p class=\"\">The <a href=\"https:\/\/www.nzherald.co.nz\/nz\/prime-minister-chris-luxon-and-transport-minister-simeon-brown-to-make-announcement-in-auckland\/EEXKHAM3UNGQTHQ7DUSSWEWOG4\/?lid=2lmcctqrwmii&amp;utm_source=newsletter&amp;utm_medium=nzh_email&amp;utm_campaign=Top_Stories_Newsletter&amp;uuid=24000100d9764715a6452c56f10570ae&amp;utm_content=1.+USE+THIS+ONE\" target=\"_blank\" rel=\"noopener\">Auckland regional fuel tax is ending<\/a>, Prime Minister Christopher Luxon and Transport Minister Simeon Brown have announced. The pair made the announcement, saying the tax was not being used to fund projects that met the Government\u2019s and mayor Wayne Brown\u2019s transport priorities.<\/p>\n<h2>The NZ Infrastructure Commission\u2019s Geoff Cooper outlines how thinking slowly and acting fast could improve NZ\u2019s infrastructure<\/h2>\n<p>New Zealand should be working towards a 100-year planning horizon when it comes to infrastructure, and viewing planning as \u201can exercise in dynamism and inquisition\u201d rather than a \u201cbureaucratic exercise.\u201d That\u2019s the view of <a href=\"https:\/\/www.interest.co.nz\/economy\/126203\/nz-infrastructure-commissions-geoff-cooper-outlines-how-thinking-slowly-and-acting\" target=\"_blank\" rel=\"noopener\">Geoff Cooper, General Manager of Strategy at the New Zealand Infrastructure Commission.<\/a><\/p>\n<h2>NZ makes \u2018Climate risk disclosure\u2019 mandatory for big business<\/h2>\n<p>Publicly listed companies, insurers, banks, non-bank deposit takers, and investment managers in New Zealand will now have to make their <a href=\"https:\/\/www.theepochtimes.com\/world\/nz-makes-climate-risk-disclosure-mandatory-for-big-business-5580539?utm_source=Aomorningbriefnoe&amp;src_src=Aomorningbriefnoe&amp;utm_campaign=Aomb-2024-02-07&amp;src_cmp=Aomb-2024-02-07&amp;utm_medium=Aoemail&amp;cta_utm_source=Aomorningbriefnoecta&amp;est=hCUVJSXoMUXDm%2F%2B9xtPSGDeeJGEQCNJc2KldLuEoq84czcBySqsSfuSf9ZM0kSis\" target=\"_blank\" rel=\"noopener\">climate-related disclosures<\/a> public after the government made reporting mandatory.<\/p>\n<h2>Get in touch<\/h2>\n<p>Contact us if you have any questions or want to discuss the next steps for your business.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to our Weekly Business Update \u2013 stay in the know with some recent news updates relevant to business and the economy. NZ beef and lamb exporters hope for New Year boost in China Companies are hopeful Chinese shoppers will buy New Zealand red meat this Chinese New Year. Meat processor Alliance is busy pushing &hellip; <a href=\"https:\/\/crunchaccounting.co.nz\/business-update-16-february-2024\/\">Continued<\/a><\/p>\n","protected":false},"author":12,"featured_media":12830,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[102,105],"tags":[],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Business Update \u2013 16 February 2024 - Crunch Accounting Services<\/title>\n<meta name=\"description\" content=\"Welcome to our Weekly Business Update \u2013 stay in the know with some recent news updates relevant to business and the economy. NZ beef and lamb exporters\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crunchaccounting.co.nz\/business-update-16-february-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business Update \u2013 16 February 2024 - Crunch Accounting Services\" \/>\n<meta property=\"og:description\" content=\"Welcome to our Weekly Business Update \u2013 stay in the know with some recent news updates relevant to business and the economy. 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