New Zealand business confidence continued its half-pipe lift, rising further in May the third monthly rise in a row. A net 11% of businesses are optimistic about prospects over the coming year. Gains were evident across all the subsectors. Construction remains the most upbeat sector and agriculture the least, according to the ANZ business outlook.
According to the survey conducted on 1500 businesses nationwide, a net 30 percent of businesses are upbeat about their own prospects over the year ahead. That’s down a couple of points from last month, but barely a wobble really.
Here is the key take-away of the report.
- Profit expectations rose from +16 to +20. That’s the fourth month on the magic carpet higher.
- Employment intentions increased from +13 to +18. Sentiment is broadly balanced as to whether the unemployment rate will move up or down. Construction and services sectors say down, with both leading the charge. Construction sector employment intentions hit a 2-year high.
- Investment intentions were up from +11 to +15.
- Export intentions were a tad lower (+21 versus +22). No news here.
- Exports have been in the moguls for a while.
- Residential investment intentions were unchanged at +36 while commercial construction rose from +24 to +29.
- Inflation expectations were unchanged at 1.4%, although pricing intentions moved from +17 to +22. Still on the bunny slopes.
The picture, after adjusting for seasonality, is largely the same.
The economic trail remains well groomed. Migration is strong. House prices are booming (so much so that it’s turning into a challenging chute run with some nasty rocks to avoid down the trail).
The construction and tourism sector are slaloming incredibly well. Financial conditions are still supportive despite the still high NZD causing some slushiness.
“There are few sectors we can point to as being on the rocks. New Zealand is in the enviable position of having credibility, competency and stability in the Government arena. It’s something we can take for granted, and is a missing base in many countries around the globe,” said Australia and New Zealand Banking Group (ANZ), the largest bank in New Zealand.
Ellah Lakes Partner Ondo State Government to Develop Oil Palm, Cassava in the State
The management of Ellah Lakes Plc said it has partnered with Ondo State Government to develop and manage 5000 hectares of land for the purpose of cultivating oil palm and cassava in Ondo State, Nigeria.
The company stated in a statement signed by Kenechi Ezezika, Company Secretary, Ellah Lakes Plc.
Speaking on the development, the Chief Executive Officer, Chuka Mordi said: “This is a significant landmark for the Company in the development of our landbank, & we are very excited to be working with ODSG.
“I am delighted that we are fulfilling our strategic objective of progressively expanding our land bank & diversifying our portfolio and production base. I am also glad to say that the intercropping programme in Edo State is progressing steadily & we have achieved our first milestone of 100Hectares of Cassava with the participation of personnel of the Agricultural Development Program (ADP), in Edo State”.
The Special Adviser on Development & Investment to the Ondo State Governor/ Chief Executive Officer of Ondo State Development and Investment Promotion Agency (ONDIPA), Mr. Akinboye Oyewumi, who also spoke on the development said: “We are pleased with this collaboration with Ellah Lakes Plc., and we look forward to a mutually beneficial, valuable and fruitful venture.”
Unilever Nigeria Appoints Mr Jaime Aguilera as a Non-Executive Director
Unilever Nigeria Plc announced it has appointed Mr. Jaime Aguilera as a Non-Executive Director of the company effective from January 2021.
The company stated in a statement filed with the Nigerian Stock Exchange.
Mr Jaime Aguilera worked with Coca-cola, Nestle and Procter & Gamble before joining Unilever as Executive Vice President Unilever Eastern Europe in September 2016.
Therefore, his experience spans from Europe, Americas and Asia.
His key expertise areas are “in Sales & Marketing and he has lead teams in Spain, Brazil, South Eastern Europe, Middle East, Mexico and Global teams.
“In 2009, he joined Unilever Spain as EVP & Chairman and then moved to his current role as Unilever Executive Vice President Africa, leading the Unilever business in Africa. Jaime is of Spanish origin and is an alumnus of the Universidad Pontificia de Comillas- ICADE. Jaime majored in Economic Sciences, Management & Business Administration.”
MTN Nigeria, Gameloft Partner to Increase Access to Variety of Exciting Games
MTN Nigeria announced it has partnered with Gameloft, a leader in the development and publishing of games, to increase access to a variety of fun and exciting games online.
The telecommunications giant in collaboration with its new partner, Gameloft announced the launch of MTN Gameworld, a new gaming platform for its subscribers.
According to MTN, the new platform will allow the Nigerian growing gaming community access to a lot of unique games online through an extensive premium catalogue from Gameloft and other renowned publishers.
Commenting on the partnership, Srinivas Rao, the Chief Digital Officer, MTN Nigeria, said, “We are constantly seeking to deliver innovative products that support the aspirations of our customers, whilst delivering superior user experience. This partnership allows us to provide our customers with access to a variety of exhilarating games from Gameloft and other leading publishers at an affordable rate.”
MTN Gameworld will allow subscribed customers access to a variety of games, which they can play at subsidised data rates through the MTN Gameworld app. Android, iOS and Windows phone users can subscribe via SMS, app, web, USSD menu (*447#), 131 USSD menu and any other MTN customer channel.
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