Weekly Digest – 21 February 2024

Weekly Digest – 21 February 2024

Getting caught up on a week that got away? Here’s your Weekly Digest of some stories relevant to business and the economy.

Contact Energy announces $153m half-year profit

Contact Energy has reported a strong first-half net profit and is making progress on its renewable energy developments. The large diversified energy company said the result reflected a strong underlying performance on pricing and its strategic plan, which set it up for the balance of the year.

Food prices on the rise again – chocolate, milk and eggs lead the way

Food price inflation returned in January with Stats NZ reporting monthly food prices increased by 0.9 per cent.

Forecast says building activity to return to pre-COVID levels

The Ministry of Business, Innovation and Employment (MBIE) has published the National Construction Pipeline Report 2023 providing a projection of national building and construction activity for the 6 years from December 2022 to December 2028.

Independent ferry service advisory group in place

Appointments to the Ministerial Advisory Group tasked with providing independent advice and assurance on the future of KiwiRail’s inter-island ferry service have been made, State Owned Enterprises Minister Paul Goldsmith says.

Economists: RBNZ will be heartened as survey shows inflation expectations continue to fall

Economists believe the Reserve Bank (RBNZ) will be heartened by new survey results that show business leaders and professional forecasters continue to see inflation tracking down.

Number of $2m-plus home loans has doubled in last four years

The number of Kiwi homeowners with mortgages of at least $2 million has more than doubled in the last four years, according to new data supplied to OneRoof.

Budget 2024: Finance Minister Nicola Willis to unveil Budget on May 30

Nicola Willis will deliver her first full Budget as Finance Minister on May 30.

All but two KiwiSaver funds produced positive returns in December quarter – Morningstar

All but two KiwiSaver funds produced positive returns in the December 2023 quarter – research firm Morningstar said.

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