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May 22, 2012
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The Reserve Bank is holding the official cash rate
at 2.5 percent, as was widely predicted, and its governor Alan Bollard
says future rises may be unnecessary as the climbing dollar is dragging
down the economy. “If this persists, it is likely to reduce the need for further OCR
increases in the short term,” he says. Experts are now pegging a rate rise in September.
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The speed of New Zealand broadband is
creeping up, Akamai’s State of the Internet report shows—but we’ve still
got a long way to go to catch up with the rest of the world. Now in its fourth year, the survey indicates Kiwis are
browsing at an average connection speed of 3.5Mbps (up from just over
2Mbps in 2008) and a peak speed of 13.7Mbps. In
comparison, our US counterparts enjoy average connections of 5.3Mbps,
although that pales beside South Korea’s 14.4, the highest in the world.
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The Commerce Commission has released its final
determination of unbundled bitstream access (UBA) pricing, which would
result in a small decrease in Telecom’s wholesale prices. In reviewing the components which make up the final price, it increased ISP service charges and decreased the cost of data transmission. Telecommunications Commissioner Dr Ross Patterson says removing the margin Telecom earns will promote market efficiency.
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In this day and age, businesses with no online presence are missing out on plenty of opportunities. But according to MYOB, the majority of
Kiwi businesses are nowhere to be found in the digital economy. Its recently completed report, conducted over a year, found only 32
percent of New Zealand businesses have their own website, and just 9
percent sell products or services online.
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It’s a project that’s been
in development for over five years now but in less than two weeks, stage one of
Wynyard Quarter, known as the Tank Farm and dubbed
Auckland waterfront’s “cultural and social heart”, is set to open to the
public. Stage one of the
development came in at a cost of $120 millio—so what can you expect to see for that
kind of money?
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As the name suggests, it’s a concealed pocket in a pair of jeans—or boardies—that you can whip out at any time to put your beer in, solving the age old problem of where to put your beer when you’re in need of a
spare hand. Creator Matthias May says he came up with the idea during an afternoon backyard
dance party. Everyone kept mixing up their beers,
and clearly a beer pocket was the ideal solution. Do you have an innovation to share? Enter the Innovator Awards and you could be up in lights.
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