{
}
Foxconn has signed an agreement to produce a new electric vehicle for Mitsubishi, with initial manufacturing set to take place in Taiwan. The EV, a revised version of the Model B prototype, is expected to launch in Australia and New Zealand by 2026, aligning with Mitsubishi's goal to electrify its fleet by 2035. This partnership highlights a growing trend of automakers outsourcing production to specialized manufacturers to streamline operations and accelerate the transition to electric vehicles.
Sony has increased the prices of some PlayStation 5 consoles in select markets, including Europe, Britain, and Australia, due to challenging economic conditions, while the U.S. remains unaffected. The PS5 digital edition will see a price rise of over 10%, with similar adjustments in New Zealand and parts of the Middle East and Africa. The PS5 Pro's price will remain unchanged despite these adjustments.
The UAE has signed its 27th Comprehensive Economic Partnership Agreement (CEPA) with the Republic of the Congo, advancing its strategy to lower trade barriers and enhance economic diversification. With eight agreements in force and 14 pending ratification, the UAE aims to boost non-oil foreign trade to Dhs4tn by 2031, while also engaging in talks with the EU for a potential agreement. The CEPA program, launched in September 2021, is pivotal for strengthening the UAE's global trade position and attracting foreign investment.
Bilateral trade between New Zealand and the UAE surged to $762 million in 2024, with a notable $240 million in the last quarter alone. The Comprehensive Economic Partnership Agreement (CEPA) is set to triple trade to $5 billion by 2032, enhancing investment opportunities in sectors like infrastructure and renewable energy.
Australian non-bank lender Bizcap has launched in Singapore, its fourth market, funding over SG$6 million in transactions and partnering with over 100 local brokers. The company offers loans from SG$5,000 to SG$500,000, utilizing automated bank statement aggregation for quick assessments, aiming for same-day funding for eligible SMEs. Bizcap plans to introduce new products and expand into other Asian markets within three years, capitalizing on the growing alternative lending sector in Singapore.
Major stock indexes in Asia plummeted following the implementation of President Trump's 104% tariffs on China, triggering fears of a recession and a sell-off in Treasuries. The US dollar weakened against safe-haven currencies, while the yuan hovered near its lowest level since 2007. Analysts warn that the escalating trade war could significantly impact the global economy, with JPMorgan estimating a $400 billion tax hike on US households and businesses due to the tariffs.
UBS forecasts that the Reserve Bank of New Zealand (RBNZ) may implement a significant 50 basis point rate cut in April, driven by the adverse effects of U.S. tariffs on global growth. The bank suggests a terminal rate of 3.0%, potentially dipping below the neutral rate due to economic slack.While initially expecting a gradual approach with 25 basis point cuts, UBS now sees the need for a more aggressive stance as the tariffs pose downside risks. RBNZ officials have acknowledged the detrimental impact of tariffs on growth, with potential inflationary effects in the long term.
UBS forecasts that the Reserve Bank of New Zealand (RBNZ) may implement a significant 50 basis point rate cut at its April meeting due to the adverse effects of US tariffs on global growth. This aggressive move could lower rates to 3.0%, potentially dipping below the neutral rate amid economic downturns. The RBNZ's proactive stance contrasts with other central banks, as it navigates the complexities of tariffs that could lead to disinflation in New Zealand while impacting inflation dynamics.
Rabobank NZ reported a 10.6% decline in net profit after tax for 2024, totaling $195.30 million, attributed to stagnant income growth, rising operating expenses, and increased impairment charges. Despite these challenges, the bank's agricultural lending portfolio grew to $13.75 billion, securing its position as the second largest agricultural lender in the country. Operating expenses rose by 6% to $216.42 million, while impairment charges more than doubled, impacting profitability.
The UAE is set to achieve a $1 trillion trade target through its Comprehensive Economic Partnership Agreement (CEPA) program, having signed 26 agreements with international partners by early 2025. This initiative, launched in September 2021, aims to diversify the economy and enhance trade, with significant growth in non-oil trade with countries like India and Turkey. The UAE is also finalizing a CEPA with Japan, further expanding its global trade network and aligning with its 'We the UAE 2031' economic vision.
NZL
Country
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Foxconn to manufacture Mitsubishi's new electric vehicle model in Taiwan
United States Dollar
Mitsubishi Motors Corporation
Hon Hai Precision Industry Co., Ltd.
NZL
AUS
JPN
TWN
Young Liu
Show more
03:30 22.04.2025
sony raises playstation 5 prices in select markets amid economic challenges
11:19 14.04.2025
UAE expands global trade network with 27 comprehensive economic partnership agreements
Euro
United States Dollar
Apple Inc.
CAF
NZL
BLR
KGZ
AUS
CRI
KHM
KEN
KOR
ARM
SRB
IDN
UKR
IND
RUS
VNM
JOR
TUR
GEO
COG
ISR
CHL
COL
MUS
MAR
KAZ
MYS
ARE
Show more
08:03 11.04.2025
UAE New Zealand trade surges to 762 million with growth prospects to 5 billion
New Zealand Dollar
United States Dollar
United Arab Emirates Dirham
Apple Inc.
Microsoft Corporation
NZL
ARE
Todd McClay
09:45 10.04.2025
Bizcap expands into Singapore's alternative lending market with rapid loan assessments
Singapore Dollar
British Pound Sterling
New Zealand Dollar
United States Dollar
SGP
NZL
GBR
AUS
Show more
04:12 10.04.2025
global markets plunge as trump's tariffs on china take effect
Swiss Franc
New Zealand Dollar
Japanese Yen
Chinese Yuan
United States Dollar
JPMorgan Chase & Co.
MSCI Inc.
Reserve Bank OF NEW Zealand BANK
Nomura Holdings, Inc.
JPN
USA
NZL
CHN
Ting Lu
Donald Trump
Show more
07:33 09.04.2025
ubs forecasts potential 50 basis point rate cut by reserve bank of new zealand
New Zealand Dollar
United States Dollar
British Pound Sterling
Royal Bank of Canada
NZL
AUS
CAN
USA
Kellyanne Conway
Bobby Orr
Show more
13:55 03.04.2025
ubs forecasts potential 50 basis point rate cut by rbnz amid tariffs
New Zealand Dollar
Australian Dollar
Canadian Dollar
United States Dollar
NZL
AUS
CAN
USA
Kellyanne Conway
Bobby Orr
Show more
13:53 03.04.2025
rabobank reports 10.6 percent profit decline amid rising costs and competition
23:35 02.04.2025
UAE aims for one trillion dollar trade with 26 new CEPA agreements
United States Dollar
Apple Inc.
Samsung Biologics Co.,Ltd.
UKR
KEN
CAF
IND
GEO
ARE
TUR
NZL
JPN
IDN
Show more
11:07 02.04.2025
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Finance Mergers & Acquisitions
Global Financial Events
Market Analysis and Predictions
Industry Mergers & Acquisitions
Banking Regulations
Financial Scams and Security
Retail and Consumer Goods
CEO Changes
Global Trade Developments
Central Bank Actions
Supply Chain Management
Startups & Entrepreneurship
Government Policies
Energy Sector Developments
AI Innovations
Government Economic Policies
Hedge Funds & Private Equity
Countries:
Companies:
Barclays PLC
Tesla, Inc.
JPMorgan Chase & Co.
Bank of America Corporation
NVIDIA Corporation
The Goldman Sachs Group, Inc.
Wells Fargo & Company
Apple Inc.
UniCredit S.p.A.
UBS Group AG
Amazon.com, Inc.
Banco BPM S.p.A.
Credit Suisse Real Estate Fund Siat
Citigroup Inc.
Google Inc.
Deutsche Bank RV Global PP
Morgan Stanley
BNP Paribas SA
ING Groep N.V.
Capital One Financial Corporation
Currencies:
United States Dollar
Euro
Indian Rupee
Swiss Franc
Chinese Yuan
British Pound Sterling
Japanese Yen
Danish Krone
Hong Kong Dollar
Australian Dollar
United Arab Emirates Dirham
Swedish Krona
Singapore Dollar
South Korean Won
Canadian Dollar
Russian Ruble
Vietnamese Đồng
Malaysian Ringgit
Offshore Chinese Yuan
Kuwaiti Dinar
People: