Tag Archives: ECONOMY

New Zealand Brewing Report Shows the Benefits of One of New Zealand’s Favorite Drinks | Instant News


  • New Zealand beer sales contributed $ 2.7 billion dollars to the economy
  • The closure of bars and restaurants due to the first COVID-19 lockdown cost the industry an estimated $ 300 million in sales
  • Brewing contributed $ 810 million to the government last year in GST and Excise Taxes
  • Low and no-alcohol beer has grown 256% since 2015
  • Tourists spent $ 400 million on beer in the year ending March 2020
  • There are 257 Breweries in New Zealand, more factories per 10,000 people (0.51) than the UK (0.42), Australia (0.29) and the United States (0.23).

Research from the New Zealand Institute of Economic Research (NZIER) reveals that the brewery industry in New Zealand is a significant contributor to the economy. Research shows that the brewing industry provides a strong GDP input and is a sizeable source of revenue for the government.

The findings, released today, follow research commissioned by The Brewers Association of New Zealand to evaluate key areas of the brewing industry and their contribution to the economy..

The study revealed that from grain to glass, New Zealand’s brewing industry is worth $ 2.7 billion through March 2020. In this value chain, $ 634 million in value added (GDP). The brewing industry also supports more than 7,000 jobs through brewing and the purchase of intermediate inputs for the brewing process, paying over $ 470 million in salaries.

“It’s important to recognize the significant contribution to New Zealand’s economy is being made by the brewing sector. Especially when economic conditions are difficult, ”said Dylan Firth, Executive Director of The Brewers Association of New Zealand

Mr Firth highlighted the significant revenue received by the government with the brewing industry contributing $ 810 million last year in GST ($ 407 million) and Excise Tax ($ 403 million).

“While it is great to recognize the fantastic contribution the brewing sector is making to New Zealand. There is no doubt that COVID-19 has affected this sector. The sector values ​​and GDP data in this report are for the end of March 2020 and therefore the full impact of COVID-19 has not been included in the data. However, sales under license will likely be most affected by COVID-19, as lack of tourism, forced closures and social distancing requirements will affect sales at licensed companies. “Said Firth

“The closure of licensed companies due to early closings cost the industry about $ 300 million in sales. Even when taking into account the slight increase in outdoor sales in the June quarter. “Said Firth

“Over the coming years, the industry is facing challenges with reduced demand from international visitors, as COVID-19-related border closings have reduced tourist numbers by a bit. Before COVID-19, tourists spent $ 400 million on beer each year. “Said Firth

“One of the most dramatic things about this report that we have seen in New Zealand over the last few years, is consumers turning to low, no-alcohol beer. Beers with a low alcohol content (less than 1.15 percent) have seen substantial growth with a 256% increase in volume since 2015. “said Firth

“The Brewers Association supports moderate and responsible beer consumption, an increase in the low category and no category that really reflects this in our society either. I think it’s important for us to recognize the positive impact our sector has on government revenue, but in a social sense. There is a positive social element that comes from sharing beer with friends and family and we must celebrate this together with the fact that this industry provides strong economic value to the country. “

“It’s clear that New Zealand is still a country that enjoys beer and its diversity. We have 257 different factories in the country, Compared to other countries, New Zealand (0.51) has more factories per 10,000 people than the UK (0.42), Australia (0.29) and the United States (0.23) . The opportunity for New Zealanders to enjoy the wide variety of quality beers on offer certainly reflects the value of this sector “said Mr Firth.

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China’s wine tariffs will hurt small Australian producers: Trade groups | Instant News


Wine bottles imported from Australia are on display for sale in supermarkets on November 27, 2020 in Hangzhou, Zhejiang Province, China.

Long Wei | VCG | Getty Images

Small exporters, grape growers and regional communities will feel the brunt of China’s decision to impose high tariffs on Australian wines. That’s according to Tony Battaglene, chief executive of Wines and Wines Australia, a national association of wine and wine producers.

China’s commerce ministry on Friday announced initial anti-dumping duties ranging from 107% to 212% on imports of Australian packaged wine, which took effect the following day. The following China’s anti-dumping investigation to be imported wine from Australia earlier this year.

“It will have a devastating impact,” Battaglene said Monday on CNBC. “Asian Squawk BoxHe explained that the bigger Australian wine exporters with diversified portfolios will likely be able to overcome China’s decision although they will also feel the pain.

“Grape growers, regional communities and small exporters have little adaptability. They are the ones who will suffer,” Battaglene said.

Entering another market in a short period of time is not easy because it takes time, relationships and money to develop that market, he added. “We don’t have that. This is our peak export time – 50% of our product went to China in the last four months of this year. It’s closed. So this product has nowhere else to go.”

Chinese market

‘Extreme disappointment’

Economists said that any potential import restrictions from China on Australian mining exports would have a greater impact as they take up a large share of the export basket. The majority of China’s iron ore imports, which are needed in steelmaking, are sourced from Australia, according to Oxford Economics. He added, given the difficulty of finding alternative sources in the short term, China has not imposed strict regulations on Australian iron ore exports.

The second largest economy in the world remains Australia’s largest trading partner in goods and services and accounts for around 27.4% of Australia’s trade with the world, according to government data.

Earlier this month, China and Australia were signatories to the world’s largest trading bloc – the Regional Comprehensive Economic Partnership, or RCEP.

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AstraZeneca says COVID-19 vaccine needs ‘additional study’ | great Britain | Instant News


AstraZeneca may have to run additional global trials to assess the efficacy of the COVID-19 vaccine, after concerns have emerged about the effectiveness of its injections.

British company chief executive Pascal Soriot was quoted as saying in a Bloomberg News report on Thursday that additional studies will be run to evaluate a lower dose that performs better than the full amount in the AstraZeneca study.

“Now that we have found what appears to be a better efficacy, we have to validate this, so we need to do additional studies,” Soriot was quoted as saying.

Soriot said it would probably be “another international study, but this one could be faster because we know the efficacy is high, so we need a smaller number of patients”.

The news comes as AstraZeneca, and its partner the University of Oxford, have faced questions about its success rate which some experts say could hinder its chances of gaining swift approval by US and EU regulators.

Some scientists have doubted the strength of results released on Monday that show the experimental vaccine is 90 percent effective in a subgroup of trial participants who, by mistake initially, received half the dose followed by the full dose.

Soriot said he does not expect additional tests to delay approval of British and European regulations.

Clearance from the US Food and Drug Administration (FDA) may take longer because the agency is unlikely to approve a vaccine based on research conducted elsewhere, especially in light of questions about results, he said.

Authorization in several countries is still expected before the end of the year, he added.

AstraZeneca chief researcher Mene Pangalos told Reuters on Monday that researchers had discovered the half-dose regime by accident, saying the experimental subgroup was given the smaller initial dose by mistake.

He previously said that the company would initiate discussions with the FDA to change the design of the experimental COVID-19 vaccine trial to add a more effective dosing regime.

‘The vaccine works’

While this could be a setback for British company Chris Smith, consultant virologist at the University of Cambridge, says the mistake could actually benefit AstraZeneca.

“What they found… was that they had one group of individuals who had a response rate of more than 90 percent to their vaccine, and another group who responded less well, down 60 or 70 percent,” Smith told Al Jazeera.

“Then, by analyzing the data, they found that individuals who got the smaller amount first and then the larger dose actually responded better than people who got the two doses higher,” he said.

“If that turns out to be the case, then the 100 million doses of vaccine the UK has purchased from AstraZeneca, instead of treating half the population, would provide sufficient coverage for the entire population,” added Smith.

Meanwhile on the same day, the UK Government’s Chief Scientific Advisor Patrick Vallance said that the main point about AstraZeneca’s vaccine against COVID-19 is that it works, when asked about the doubts that have arisen about the vaccine.

“The main result is that the vaccine is working and that’s very exciting,” Vallance told a press conference with Prime Minister Boris Johnson.

Chief Medical Advisor Chris Whitty, answering the same question, said there is always a scientific debate about almost anything.

“The main thing from our point of view is to leave this in the hands of regulators … They will make judgments with lots of data that are not currently in the public domain on efficacy and safety,” Whitty said.

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Hyundai Santa Fe Hybrid confirmed for New Zealand – but no plug for now – News | Instant News


Hyundai New Zealand will add a hybrid version of the new Santa Fe 2021 launched in the middle of next year – although it will not feature plug-in technology. At least not at first.

The Santa Fe hybrid will feature a 1.6 liter turbo-petrol engine with a 44kW electric motor and a 1.5kWh battery. Total system output will be 169kW / 350Nm (no fuel economy figures have been shared yet) and while specifications are yet to be finalized, Hyundai NZ said it anticipates the hybrid will become AWD.

But that won’t be Add-ons Hybrid Electric Vehicle (PHEV). This will be a petrol-electric powertrain similar to the one used by Toyota in the upcoming RAV4 and Highlander models.

That’s the direct difference between the equally new (and closely related) Santa Fe and Sorento of its sister brand Kia, which has been announced. PHEV version for the first quarter of 2021.

Sorento PHEV combines a 1.6 liter turbo-petrol engine with a 13.8kWh lithium-ion battery pack and a 66.9kW electric motor. The pure electric range will be about 50 km; the system produces 195kW / 350Nm.

Although the brands come from the same enclosure, they are distributed by different companies in NZ: Hyundai is independent and locally owned, while Kia is a subsidiary of the factory.

In short, no love was lost between the two on local soil. So it’s no surprise that Hyundai says it’s very comfortable with its conventional hybrid options and it hasn’t been possible to prove whether there is a demand for the Santa Fe Plug-in Hybrid Vehicle (PHEV).

“We know from competing brands that have a hybrid variant, they are doing quite well,” said Gavin Young, technical boss of Hyundai NZ.

“Our customers ask questions and we know there is interest. We know there is space we can fill.

With all the coverage we did with EVs and Nexo, we knew that early adopters wanted the technology.

“We’re also working with Australia to see what the market looks like for the plug-in variant, but that’s not yet determined. There has to be demand.”

Sales statistics seem to support that view. Only 610 PHEVs have been sold in NZ this year, compared to the 1189 BEVs and 6,844 petrol-electric hybrids.

Meanwhile, Hyundai has launched the diesel and petrol variants of the Santa Fe 2021 in NZ. Although it looks similar to the previous version, except for the new grille which is scalloped and carries most of the body panels, it uses a new platform, with new technology.

There are three powertrains: 2.5-liter 132kW / 232Nm petrol with 6-speed automatic and AWD, a core 2.2-liter 148kW / 440Nm turbo diesel engine with 8-speed automatic dual clutch and AWD, and a return of the V6 petrol model: 200kW / 331Nm from a 3.5-liter engine. , with an 8-speed automatic (not the new diesel dual clutch) and FWD only.

Across entries, Elite and Limited specs, prices range from $ 62,990 to $ 89,990.

The $ 90k price tag for the 2.2D Limited flagship is attractive because the model shares a similar high-tech suite, including remote parking and a high-resolution display in-dash blind, to Kia Sorento Premium. But Kia costs just $ 76,990.

Again, Hyundai NZ is comfortable with that. General manager Andy Sinclair pointed out that the gap is smaller than before ($ 20k on the previous model) and the Santa Fe is the top seller in this segment – with Limited being the most popular variant.

“If people buy a cheaper car, they are still a cheaper car – maybe a much cheaper car – when they exchange them,” Sinclair said. “What we prove with our brand is when people buy [Hyundai], they get a strong residual value.

“There is a big difference in NVH [between Santa Fe and Sorento], there are indeed differences in the materials used, but the biggest difference is the brand. People trust our brand. “

To view all the Hyundai Santa Fe models currently listed on DRIVEN, click here

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China is stepping up virus testing on imported food packaging | Instant News


Chinese officials say the country is stepping up virus checks on imported food packaging as colder weather brings a new wave of coronavirus infections to several overseas countries.

The packaging was “not exempt” from carrying the virus, deputy director of the National Center for Food Safety Risk Assessment Li Ning told reporters.

While the coronavirus positivity rate for tests on the pack was only 0.48 per 10,000, that proportion increases with the number of tests performed, Li said.

He said the virus was “to some extent” transmissible to humans from packaging, although Li or other officials at Wednesday’s press conference did not mention such a confirmed case.

Through its mask mandate, mass testing, lockdown and case tracking, China has largely eliminated cases of local transmission, causing it to pay extra attention to the threat of infection from abroad. China’s National Health Administration on Wednesday reported five new cases, all imported, bringing China’s total to 86,469, including 4,634 deaths.

Stopping the spread of the virus is “like a war,” demands swift and decisive action, said Wu Zunyou, CDC Head of Epidemiology.

“Victory only comes after the entire nation is united in its efforts. On this front, technical strategy, strong leadership and coordinated action all play an important role, “said Wu.

The coronavirus is known to be more stable in colder conditions, drying, and disinfectant packaging at freezing temperatures creates “special challenges,” said Zhang Liubo, the Center for Disease Control’s chief disinfection officer.

Even when disinfection is successful and the virus is no longer contagious, traces of the virus can remain on the packaging, resulting in a positive result, Zhang said.

However, “to date, we have not encountered any infections caused by direct consumption of these cold chain products,” said Zhang.

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