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Archive for the ‘NEW ZEALAND’ Category

RESERVE BANK FIXES ON RISK FACTORS IN NEW RULES FOR FINANCE COMPANIES (New Zealand)

Posted by Gilmour Poincaree on January 26, 2009

4:00AM Monday Jan 26, 2009

by Adam Bennett

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in BANKING SYSTEMS, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INTERNATIONAL, MACROECONOMY, NEW ZEALAND, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES | Leave a Comment »

FREE TRADE BEST HOPE OF GETTING THROUGH (New Zealand)

Posted by Gilmour Poincaree on January 26, 2009

4:00AM Monday Jan 26, 2009

by Owen Hembry

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in AGRICULTURE, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, NEW ZEALAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, THE FLOW OF INVESTMENTS | Leave a Comment »

‘50,000 JOBS TO GO’ AS ECONOMY SHRINKS (New Zealand)

Posted by Gilmour Poincaree on January 24, 2009

4:00AM Saturday Jan 24, 2009

by Brian Fallow

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

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PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOREIGN WORK FORCE - LEGAL, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATIONAL WORK FORCES, NEW ZEALAND, RECESSION, THE WORK MARKET, THE WORKERS, THE WORKING ENVIRONMENT, UNEMPLOYMENT | Leave a Comment »

CAR LOANS FUEL $97M WRITE-OFF (New Zealand)

Posted by Gilmour Poincaree on January 24, 2009

4:00AM Saturday Jan 24, 2009

by Tamsyn Parker

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in AUTOMOTIVE INDUSTRY, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SCAMS, FRAUD, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NEW ZEALAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | Leave a Comment »

NEW ZEALAND WIND FARM SITE ‘EXCEPTIONAL’

Posted by Gilmour Poincaree on January 23, 2009

1/22/2009 4:25:14 PM GMT

A service of YellowBrix, Inc.

PUBLISHED BY ‘ENERGY CURRENT’

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PUBLISHED BY ‘ENERGY CURRENT’

Posted in AEOLIC, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, GLOBAL WARMING, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NEW ZEALAND, POLLUTION, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | 2 Comments »

SPECTRE OF DEFLATION COULD BRING 1960s INTEREST RATE

Posted by Gilmour Poincaree on January 20, 2009

4:00AM Tuesday Jan 20, 2009

by Stephen Johnson – AAP

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in AUSTRALIA, BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, DEFLATION, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, NEW ZEALAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

MOMENTUM AND CONFIDENCE IS CRITICAL

Posted by Gilmour Poincaree on January 19, 2009

4:00AM Monday Jan 19, 2009

by Mike Moore

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in 'DOHA TALKS', AGRICULTURE, BANKING SYSTEMS, CHINA, COMMERCE, COMMERCIAL PROTECTIONISM, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FOOD PRODUCTION (human), FOREIGN POLICIES, G20, GERMANY, INTERNATIONAL, INTERNATIONAL RELATIONS, JAPAN, NEW ZEALAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, UNITED KINGDOM, USA, WORLD TRADE ORGANIZATION | Leave a Comment »

FEDS DRAGGING CHAIN OVER ELECTRONIC TAGS (New Zealand)

Posted by Gilmour Poincaree on January 19, 2009

4:00AM Monday Jan 19, 2009

by Owen Hembry

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in CATTLE, CATTLE FARMING, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NEW ZEALAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | Leave a Comment »

FARM WORKERS REAPING HEALTHIER PAY INCREASES (New Zealand)

Posted by Gilmour Poincaree on January 19, 2009

4:00AM Monday Jan 19, 2009

by Owen Hembry

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in AGRICULTURE, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INTERNATIONAL, NEW ZEALAND, RECESSION, THE FLOW OF INVESTMENTS, THE WORK MARKET | Leave a Comment »

NZ’S TUI OIL PRODUCTION HITS 20 MILLION BARRELS – THE TUI AREA OIL FIELD IN NEW ZEALAND’S OFFSHORE TARANAKI BASIN REACHED ANOTHER SIGNIFICANT MILESTONE WITH THE PRODUCTION OF THE 20 MILLIONTH BARREL OF TUI OIL (New Zealand)

Posted by Gilmour Poincaree on January 11, 2009

Friday, January 09, 2009

by Pan Pacific Petroleum NL

PUBLISHED BY ‘RIGZONE’

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PUBLISHED BY ‘RIGZONE’

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NEW ZEALAND, PETROL, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

CHRISTINE IP SPEARHEADS ANZ PUSH INTO CHINA (New Zealand)

Posted by Gilmour Poincaree on January 10, 2009

January 10, 2009

by Lyndal McFarland – Dow Jones Newswires

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in BANKING SYSTEMS, CHINA, COMMERCE, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIES, INTERNATIONAL, MACROECONOMY, NEW ZEALAND, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

INVESTOR SAYS FIRM MISSED PAYMENT

Posted by Gilmour Poincaree on January 8, 2009

4:00AM Thursday Jan 08, 2009

by Tamsyn Parker

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in AUSTRALIA, BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INTERNATIONAL, NEW ZEALAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

AVERAGE HOUSEHOLD NET WORTH PLUMMETS AGAIN (New Zealand)

Posted by Gilmour Poincaree on January 8, 2009

11:15AM Thursday Jan 08, 2009

NEWSTALK ZB

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATIONAL WORK FORCES, NEW ZEALAND, RECESSION, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS | Leave a Comment »

TELEMARKETER WINS UNJUSTIFIED DISMISSAL CASE (New Zealand)

Posted by Gilmour Poincaree on January 8, 2009

11:38AM Thursday Jan 08, 2009

NZPA

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INTERNATIONAL, JUDICIARY SYSTEMS, NATIONAL WORK FORCES, NEW ZEALAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, TELEMARKETING INDUSTRIES, THE WORK MARKET, THE WORKING ENVIRONMENT | Leave a Comment »

NZ AIRLINE JETLINER OPERATES PARTLY ON VEGETABLE OIL – JATROPHA: BOEING AND VIRGIN ATLANTIC CARRIED OUT A SIMILAR TEST FLIGHT THAT INCLUDED A BIOFUEL MIXTURE THAT WAS DISMISSED AS A PUBLICITY STUNT BY ENVIRONMENTALISTS

Posted by Gilmour Poincaree on December 31, 2008

Wednesday, Dec 31, 2008

Associated Press – Wellington

PUBLISHED BY ‘THE TAIPEI TIMES’ (Formosa – Taiwan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE TAIPEI TIMES’ (Formosa – Taiwan)

Posted in AIR TRANSPORT INDUSTRY, BIOFUELS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, NEW ZEALAND, O BIODIESEL, RECESSION, REFINERIES - PETROL/BIOFUELS, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES, VEGETABLE OILS | 1 Comment »

AIR NZ COMPLETES BIOFUEL TEST FLIGHT (New Zealand)

Posted by Gilmour Poincaree on December 31, 2008

Tue, Dec. 30, 2008

Energy Current

PUBLISHED BY ‘ENERGY CURRENT’

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PUBLISHED BY ‘ENERGY CURRENT’

Posted in AIR TRANSPORT INDUSTRY, BIOFUELS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NEW ZEALAND, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

END OF THE ELDORADO DREAM: A plunging pound and property crash have left thousands of expat Britons on the breadline

Posted by Gilmour Poincaree on December 20, 2008

1:31 AM on 20th December 2008

by Tom Rawstorne

PUBLISHED BY ‘THE DAILY MAIL’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE DAILY MAIL’ (UK)

Posted in ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, NEW ZEALAND, POUND (Britain), RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

NEWFOUNDLAND SEIZES ASSETS OF ABITIBIBOWATER – Government responds to impending mill closing by ordering forestry giant to surrender timber and water rights, hydro plants

Posted by Gilmour Poincaree on December 20, 2008

December 17, 2008

by Oliver Moore – With reports from Konrad Yakabuski and David Ebner

PUBLISHED BY ‘THE GLOBE AND MAIL’ (Canada)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE GLOBE AND MAIL’ (Canada)

Posted in ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, NEW ZEALAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY | Leave a Comment »

INDIGENOUS RIGHTS ROW THREATENS RAINFOREST PROTECTION PLAN – Green groups accuse US, Australia, New Zealand and Canada of deleting lines on indigenous peoples’ rights in draft agreement in Poznan on climate change and deforestation

Posted by Gilmour Poincaree on December 9, 2008

Tuesday December 9 2008 – 18.06 GMT

by David Adam – guardian.co.uk

PUBLISHED BY ‘THE GUARDIAN’ (UK)

Talks aimed at finding ways to protect tropical forests in a new global deal on global warming hit problems today after a row over the rights of indigenous people.

Green groups accused the US, Australia, New Zealand and Canada of deleting a line about indigenous peoples’ rights from a draft agreement due to have been published tonight, as part of UN talks on climate change.

The original confidential draft, seen by the Guardian, talked of “noting the rights and importance of engaging indigenous peoples and other local communities”.

The amended version mentions only “recognising the need to promote the full and effective participation of indigenous and local communities”. The change sparked protests at the Poznan meeting by delegates representing indigenous groups from Panama and the US.

Campaigners said the suggested change would leave indigenous people across the world vulnerable to exploitation under proposals to pay tropical nations not to cut down forests.

A joint statement from groups including Friends of the Earth and the Rainforest Foundation condemned the change as “totally unacceptable”. It said: “The forests being targetted… are those which indigenous peoples have sustained and protected for thousands of years. The rights of forest peoples to continue playing this role, and being rewarded for doing so, has to be recognised.”

Talks continue, but the row threatens to derail attempts to agree a rulebook for forest-protection schemes, which was supposed to have paved the way to include them in a new global climate deal to succeed the Kyoto protocol. Deforestation causes almost a fifth of greenhouse gas emissions.

Negotiators had said such an agreement on forests was one of the few breakthroughs expected at the Poznan talks, which are largely a preparatory meeting for more serious negotiations next year.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE GUARDIAN’ (UK)

Posted in AUSTRALIA, CANADA, ECONOMY, ENVIRONMENT, INTERNATIONAL, NATIVE PEOPLES, NEW ZEALAND, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

FARMERS QUIT FIGHT OVER LAKE (New Zealand)

Posted by Gilmour Poincaree on December 5, 2008

4:00AM Friday Dec 05, 2008

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Federated Farmers will not appeal against the Environment Court decision confirming Waikato Regional View of Lake Taupo, New Zealand in 2001Council moves to protect Lake Taupo from “dirty dairying” and other farming run-off.

The court recently upheld the council’s “Lake Taupo variation” to its regional plan, and Federated Farmers said at the time it was likely to appeal.

The council’s variation imposes controls on farms arounf Lake Taupo in a bid to protect the lake from nitrogen run-off, setting a precedent for capping nutrient applications in other regions.

Federated Farmers has been a strong critic of making farming a controlled activity under the Resource Management Act.

Yesterday, it said its decision not to appeal was “taken with a heavy heart” after legal advice.

“The implications of the Environment Court decision is gut-wrenching for the farmers affected,” said Federated Farmers president Don Nicolson.

He claimed the court decision should have no implications for other regions.

“If other councils think about using this decision in their plans, the federation is ready for a major fight.”

The previous Government said some unacceptable trends such as pollution and nutrient run-off needed to be reversed to improve and protect special places such as Lake Taupo, the Rotorua lakes and Lake Ellesmere.

A regional plan to protect Lake Taupo from the effects of nitrogen run-off from farms proposes spending $82 million to reduce the levels of nitrogen running into the lake by 20 per cent over the next 15 years.

Capping the amount of nitrogen farmers can lose from their land would mean each farmer could be given a nitrogen allocation in proportion to their land’s present losses.

Some farmers may have to reduce stocking rates and may need to remove stock over the winter months, when animal wastes are most likely to contaminate water.

Mr Nicolson said there was too much emphasis on environmental sustainability in the RMA and not enough on economic issues.

“This decision under the RMA gives councils around Taupo the mandate to dictate stock levels, wiping thousands off the value of each hectare,” he said.

Federated Farmers’ Ruapehu president Lyn Neeson and Rotorua/Taupo president Gifford McFadden will meet farmers on December 16.

Farms in the region are on light, porous soils and regulators are concerned that nutrient run-off is worsening degradation of the lake’s water quality.

– NZPA

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in AGRICULTURE, ECONOMY, ENVIRONMENT, INTERNATIONAL, JUDICIARY SYSTEMS, NEW ZEALAND, WATER | Leave a Comment »

DOHA TALKS MAKE HEADWAY

Posted by Gilmour Poincaree on November 29, 2008

Nov 28, 2008 1:19 PM

PUBLISHED BY ‘TVNZ’ (New Zealand)

Talks to unstick the Doha Flag Raising Ceremony The United Nations flag is raised outside the Doha Sheraton Convention Centre, as representatives of the Government of Qatar turn over the facilities to United Nations authorities in preparation for the opening of the Follow-up International Conference on Financing for Development to Review Implementation of the Monterrey Consensus. Representing the Government of Qatar - Mohamed Abdullah Al-Rumaihi Deputy Minister, Ministry of Foreign Affairs -  Representing the United Nations - Shaaban M. Shaaban Under-Secretary-General for General Assembly and Conference Management - Sha Zukang Under-Secretary-General for Economic and Social Affairsworld trade round have made some headway, ambassadors to the World Trade Organisation (WTO) said on Thursday.

New Zealand ambassador Crawford Falconer, who chairs the WTO negotiations on agricultural products, said that countries have begun to budge from their positions in the wake of a high-level political push for an agreement.

“I have seen some material change, but not all the things I would like to have seen have happened,” he told reporters after an evening meeting at the WTO’s Geneva headquarters.

US President George Bush and other leaders have been pushing for a breakthrough in the seven-year-old WTO talks as a means to bolster the troubled global economy.

A new WTO agreement would cut subsidies and tariffs on a wide range of traded goods and cross-border services, prying open food, fuel, transportation and other markets and therefore encouraging global economic activity.

WTO Director-General Pascal Lamy has been looking for signs of movement in technical talks between diplomats before inviting trade ministers to Geneva to hammer out a deal in agricultural and manufactured goods – the two main areas of the Doha accord.

Talks earlier on Thursday skated over sensitive issues such as the levels of US subsidies on cotton, and a controversial facility to let poor countries shield subsistence farmers during crises, envoys said.

“We had more positive discussions than we had before,” Brazil’s WTO ambassador Roberto Azevedo said of those talks.

A dispute about the “special safeguard mechanism” for farmers caused a meeting of ministers in July to fail, with India squaring off against the United States and other countries who said the facility could actually close off existing markets instead of opening up new ones.

Azevedo told journalists that in Thursday’s talks on that mechanism “there wasn’t exactly convergence or agreement, but there was no clear-cut rejection.”

“You learn in these negotiations to read between the lines,” he said. “There was certainly more engagement, more interaction than there was before.”

Diplomats that a ministerial meeting next month could start around December 13, though no dates are expected to be set until Sunday or later.

Estimates of the benefits of the WTO accord vary widely. A recent study from the US-based International Food Policy Research Institute said more than $US1 trillion of trade was at stake.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘TVNZ’ (New Zealand)

Posted in AGRICULTURE, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, G20, INTERNATIONAL, INTERNATIONAL RELATIONS, NEW ZEALAND, QATAR, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE PRESIDENCY - USA, USA, WORLD TRADE ORGANIZATION | Leave a Comment »

WHY WE NEED MORE NEGATIVE PRESS

Posted by Gilmour Poincaree on November 18, 2008

3:33 PM Tuesday November 18, 2008

DAVID CHAPLIN by David Chaplin

I was at a conference last week where a woman stood up and blamed the press for creating the global financial crisis (or “the GFC” as insiders now refer to it).

The cheek of it, the session wasn’t even about media incompetence. I took offence on behalf of journalists everywhere. If anything, I’d argue that the media wasn’t negative NEGATIVE PRESS - by Kaitlyn McKinley enough in the couple of years leading up to July 2007 when everything started to sink.

Perhaps the press should’ve been a bit harder on, say, CDOs (the now-infamous collateralised debt obligation investments) or pointed out more forcefully the dangers of excessive debt building up in the world’s financial system or just generally tried to poop the party.

A more sceptical media might’ve been able to pierce a little sooner the giant bubble of “greed, jealousy and hubris”, as Jack Brennan, head of Vanguard (one of the world’s largest fund managers), described the state of the pre-GFC financial world.

Brennan, speaking via video at the same Auckland conference (a gathering of Australian superannuation industry types), told the delegates "greed, jealously and hubris" enabled intelligent people to ignore known risks in the pursuit of easy money.

There are a couple of reasons why the financial media was helpless in the face of exuberance. Partly, PRINTING WORKSHOP - Photo - Warren Bucklandit’s because we were enjoying the party too. But it’s true too that almost no-one else was willing to predict how and when it would all come crashing down – what’s a journalist without “sources”?

And then there’s the legal constraints. Well before the collapse of Bridgecorp, for example, it was well-known in media circles that the company was in trouble. Bridgecorp, however, had a particularly belligerent approach to the press, which killed off plenty of negative stories.

Blue Chip also kept its lawyers on speed-dial. Although, I didn’t know that when a financial adviser whispered to me at a conference a couple of years ago: “Have you heard of a crowd called Blue Chip… they’re doing dodgy things mate.”

Should’ve followed that one up.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’ (Pakistan)

Posted in BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INTERNATIONAL, NEW ZEALAND, THE MEDIA (US AND FOREIGN) | Leave a Comment »

MANY AMERICAN MEAT EXPORTERS OBTAIN HALAL CERTIFICATE FRAUDULENTLY (Dubai)

Posted by Gilmour Poincaree on November 14, 2008

Published: November 13, 2008, 23:54

by Nadia Saleem, Staff Reporter

Dubai: Ninety-five per cent of American food items found in supermarket shelves in the UAE and some HALAL MEATother Gulf countries are not halal even though they may be certified as such, an industry specialist said at the Halal World Expo in Abu Dhabi.

Jalel Aossey, director of Midamar, a US-based international supplier of halal food and foodservice equipment, said that there is a significant flow of non-halal food items in the region from meat-supplying countries, and the Gulf countries need tougher regulations to stop that flow.

“On one side you have producers who genuinely don’t know what they have to comply with because of a lack of education from the industry. But you also have companies and exporters that are deliberately defrauding governments and consumers by not complying with regulations because they don’t want to pay the fees and the transition costs to make halal products,” Aossey said.

Corrupt certifiers

Nearly 1.8 billion Muslims around the world as well as some non-Muslims are fuelling the halal food industry, generating sales of $2.1 trillion annually, according to recent reports. The attractive halal food industry is drawing many dubious players.

“Corrupt certifiers get a taste for the money generated producing “paper halal certificates” for companies without actually performing any work,” Aossey said.

On regulatory measures, Aossey said, “People have to realise that it is not impossible, and that it’s not too costly to put the correct halal standards in place here. There’s a big misconception about how difficult this process is.”

Noor Al Deen Abdullah, executive director of Kasehdia, a communications and consultancy company in Malaysia, and publishers of The Halal Food Journal earlier told Gulf News, “The global halal industry is still in its infancy because huge awareness is required, especially in the Middle East.”

The major producing nations are Australia, New Zealand, Brazil and Canada, Abdullah said, from where halal and non-halal meat is supplied.

Aossey said that inspection teams can be sent to the various countries where food is being produced to allow it to be inspected, at that country’s cost. “This is nothing when you consider the huge dollar volume of food products exported to the UAE and other Gulf countries.”

In the UAE, 80 per cent of imported food is said to be halal, coming from countries such as Brazil and Australia.

Facts

What is halal meat?

Halal (or permissible) in Islam is the meat of animals that have been slaughtered reciting the name of Allah on them and all the blood has been drained from the carcass.

Additional criterion that make meat halal are that the animal should not be dead prior to slaughter, since carrion is forbidden and that the animal is from those that are allowed according to Islamic teachings.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘GULF NEWS’ (Dubai)

Posted in AUSTRALIA, BRASIL, CANADA, COMMERCE, COMMODITIES MARKET, CRIMINAL ACTIVITIES, FRAUD, INDUSTRIAL PRODUCTION - USA, INTERNATIONAL, MEAT, NEW ZEALAND, PECUÁRIA, REGULATIONS AND BUSINESS TRANSPARENCY, SETOR EXPORTADOR, THE ARABIAN PENINSULA, UNITED ARAB EMIRATES | Leave a Comment »