Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search


Good Work Pays Off - No problems for YLeap


Good Work Pays Off - No significant problems for February 29 (Leap Year)

“It appears as if the good work undertaken by New Zealand organisations has paid off,” says Basil Logan, Chairman of the Y2K Readiness Commission.

“No significant problems to computers or equipment relating to 29 February have been reported.”

February 29 was a date many experts thought might cause problems because computers might not recognise 2000 as a leap year.

“The low level of incidents is not surprising,” Basil Logan, said. “We know that organisations tested for 29 February when they undertook their initial testing for year 2000 computer problems and that work seems to have paid off. “ However, the Y2K Readiness Commission will monitor the situation again tomorrow, the first day of March, ” Mr. Logan said.

“A minor problem has been reported by the banking sector as a result of the changeover of computer systems to the 29th of February (leap year). The problem is not widespread and affects a few merchants using electronic banking transaction systems. The banking sector is managing the issue and we have been advised that there is no impact on cardholders or individual transactions.

“The Y2K Readiness Commission believes that date problems with computer systems and equipment are now unlikely to cause many widespread problems. Any problems that do occur over the next 12 months are likely to be organisation specific and capable of being handled by normal management processes, Mr. Logan said.


© Scoop Media

Business Headlines | Sci-Tech Headlines


"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>


Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>


Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>