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


Business welcomes Waitomo’s arrival in Wellington City

Businesses will welcome today’s opening in Wellington City of fuel cost-cutter Waitomo’s second site in the region, says Business Central.

"This is further good news because competition is always good for any market, and particularly when it involves a disrupting company like Waitomo," says Chief Executive John Milford.

"It’s particularly good when it comes to a place like Wellington that has been paying some of the highest prices in the country.

"Their presence tends to force down the prices offered by nearby competitors, and that has proved to be the case since they opened in Upper Hutt six weeks ago, where prices have been down as low as 20c across all brands.

"Yesterday, fuel prices there were up to 16c per litre lower than in Wellington, and I believe Waitomo will have the same effect after they open today on Hutt Road.

"It’s good news for businesses that rely on transport to move goods, especially coming a day after the Government’s 3.5c tax rise."


© Scoop Media

Business Headlines | Sci-Tech Headlines


Up 17.% In June Year: Fuel And Rent Drive Inflation

The consumers price index (CPI) rose 0.6 percent in the June 2019 quarter, due to higher prices for petrol and rent, Stats NZ said today. More>>


Services: Softer June Points To Economic Slowdown

Activity in New Zealand's services sector softened in June, adding to a picture of lacklustre economic growth. The BNZ-BusinessNZ performance of services index fell 0.8 of a point in June from May to a seasonally adjusted 52.7. More>>


Incomings: Migration Remains High

Annual net migration was provisionally estimated at 50,200 (± 800) in the year ended December 2018 compared with 52,600 in the previous year, Stats NZ said. More>>


BusinessDesk: ComCom Files High Court Proceedings Against Westpac

The commission alleges the bank breached the Credit Contracts and Consumer Finance Act 2003 by failing to provide key information it was required to give customers under the law. More>>