Market close: NZ sharemarket falls as investors grow pensive over inflation
12 May, 2021 05:38 AM
3 minutes to read
Shares in Napier Port ended weaker. Photo / Hawke s Bay Today
New Zealand share prices ended weaker on light volume as investors grew pensive about the prospects of inflation and rising bond yields here and around the world. The S&P/NZX50 index finished at 12,564.21, down 75.85 points, or 0.6 per cent, on volume of 55.64 million shares, worth $201.98 million.
There were 96 falls and 51 rises.
Most of the big name stocks were weaker as concerns about US inflation took hold after US year treasury yields gained for the third day in a row. Local 10-year bond yields were at 1.81 per cent, the upper end of their recent 1.6 to 1.9 per cent band.
BUSINESS REPORTERMUSCAT, MAY 8Platts Analytics forecasts global oil supply growth of 3.2 million b/d in 2021 and 5.5 million b/d in 2022. “We see a bit stronger growth than a month ago on higher US and Iran outlook,” says Ash Singh, Manager Supply and Production Analytics, S&P Global Platts.On April 27, Opec+ decided to maintain its production plan from.
Taurua District could grow blueberries, hazelnuts, apples and feijoas - study
6 May, 2021 12:00 AM
3 minutes to read
A new study has found the Taurua District could grow blueberries, hazelnuts, cider apples and feijoas. Photo / 123rf
A new study has found the Taurua District could grow blueberries, hazelnuts, cider apples and feijoas. Photo / 123rf
RNZ
A new study for alternative land uses in the Tararua District shows blueberries, hazelnuts, cider apples and feijoas could be successfully grown in the area.
The report commissioned by The Tararua District Council and done by AgFirst assessed the soil quality, climate and economics of each crop.
Farmers dry Chinese wolfberry in Guazhou county of Jiuquan, Gansu province. CHINA DAILY
When Yang Shengxiang first arrived at Jinhe, a village in Guazhou county, Gansu province, in 2003, all he could see was barren saline-alkali soil surrounded by the endless Gobi desert.
Local farmers led a hard life by growing corn and wheat, until Yang, then 21 years old, taught them how to grow Chinese wolfberry, or Goji berry on the poor soil.
As of 2021, with the construction of the expressways, they managed to transport their Goji berry products to Beijing, Russia and the European Union.
Yang moved to the village together with his family to help the local fight against poverty in 2003. He shared his thoughts with the farmers and gradually earned their trust by helping them repair their houses, doing farm work and building roads.
Insurance premiums grow 5pc in 2019
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Gross direct premiums of insurance companies in the Sultanate increased by 5 per cent to RO 486.5 per cent in 2019, compared to RO 463.5 in 2018, the Capital Market Authority (CMA) – the regulator of the insurance industry – said in a report.
The growth in insurance premiums average 4 per cent in the past five years. Direct gross premiums of general insurance increased by 5 per cent to RO 425.8 million in 2019 compared to RO 403.9 million in 2018. General insurance’s share was 87.5 per cent of the total insurance portfolio accompanied by an increase in gross direct premiums of life insurance by 2 per cent to RO 60.7 million in 2019 compared to RO 59.6 million in 2018. Life insurance’s share was 12.5 per cent of the total insurance portfolio. Takaful products recorded 20 per cent growth in direct premiums during 2019 compared to the previous year. Takaful’s share was 13.2 per cent of the total