Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

NZ central bank vacating Wellington HQ for 3 months

NZ central bank vacating Wellington HQ for 3 months due to asbestos

By Rebecca Howard

Aug. 10 (BusinessDesk) - New Zealand's central bank is vacating its Wellington headquarters for about three months to remediate asbestos issues.

The central bank's currency, payments and settlements, and markets operations will not be affected as "we are able to undertake our currency operations in the building, as usual, with confidence," it said in a statement. According to the bank, the ground and basement levels were constructed differently than the higher levels and are safe.

All other critical real-time banking functions are being operated from the Auckland premises.

The decision comes after ongoing asbestos remediation was proving too complex and disruptive, it said.

"The final straw was yesterday when a trace amount of airborne asbestos was detected in one floor’s lift foyer. The amount detected is low risk but the health and safety of all building occupants is our priority. The floor – level 6 - was vacated immediately."

Central Bank governor Adrian Orr said “we expect to move back into the building after three months, when building-wide remediation work is finished and safety tests have been completed and signed off by specialist asbestos firm Major Consulting Group."

Other tenants are making arrangements for temporary accommodation including the Parliamentary Commissioner for the Environment, Parliamentary Counsel Office, State Services Commission, and NZ Defence Force.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Ground Rules: Government Moves To Protect Best Growing Land

“Continuing to grow food in the volumes and quality we have come to expect depends on the availability of land and the quality of the soil. Once productive land is built on, we can’t use it for food production, which is why we need to act now.” More>>

ALSO:

Royal Society: Calls For Overhaul Of Gene-Technology Regulations

An expert panel considering the implications of new technologies that allow much more controlled and precise ‘editing’ of genes, has concluded it’s time for an overhaul of the regulations and that there’s an urgent need for wide discussion and debate about gene editing... More>>

ALSO:

Retail: Card Spending Dips In July

Seasonally-adjusted electronic card spending dipped in July by 0.1 percent after being flat in June, according to Stats NZ. Economists had expected a 0.5 percent lift, according to the median in a Bloomberg poll. More>>

ALSO:

Product Stewardship: Govt Takes More Action To Reduce Waste

The Government is proposing a new way to deal with environmentally harmful products before they become waste, including plastic packing and bottles, as part of a wider plan to reduce the amount of rubbish ending up in landfills. More>>

ALSO:

Earnings Update: Fonterra Sees Up To $675m Loss On Writedowns

“While the Co-op’s FY19 underlying earnings range is within the current guidance of 10-15 cents per share, when you take into consideration these likely write-downs, we expect to make a reported loss of $590-675 million this year, which is a 37 to 42 cent loss per share." More>>

ALSO: