Best of Business Newstalk ZB

Meat exporters are celebrating news the Government's negotiating a free trade agreement with the United Arab Emirates.

Trade Minister Todd McClay says he hopes to get a deal over the line as soon as possible.

Infometrics Principal Economist Brad Olsen says it's good that we're striking when the iron's hot when it comes to demand from that part of the world.

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The small town of Reefton, located in the West Coast, is sitting on a supply of a valuable mineral.

An Australian mining company believes Reefton could have 5 percent of the world's supply of antimony.

Siren Gold CEO Victor Rajasooriar says it's likely they'll find at least 50,000 to 100,000 tonnes of antimony if they keep drilling.

"We're quite confident with the initial drilling that we've done... there's a lot sitting in that region.

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The country's largest bank has increased its cash profit, despite falling interest margins.

ANZ New Zealand's cash profit rose to $1.15 billion dollars in the six months to March.

That's stable on the previous six months, and up four percent on the same period the previous year.

Chief Executive Antonia Watson says the bank has taken on less provision for 'doubtful' debts this half.

"Revenue is under pressure, costs are under pressure - just like every other business is seeing. But we have had an advantage from that credit provision."

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The OECD has released its detailed biennial report on New Zealand's economy, ahead of the 2024 Budget.

It lays out suggestions to improve productivity - highlighting competition.

NZ Herald Wellington business editor Jenee Tibshraeny says the OECD thinks the Government could more aggressively break up monopolies and duopolies, like supermarkets.

"It did recognise that, in a small country like New Zealand, we have some of these big players dominating key sectors. They have such control over the market - that does stymie the innovation."

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Things are tough in Wellington at the moment, with unemployment biting and public service cuts and staff working from home affecting central city businesses. 

Retail NZ chief executive Carolyn Young and Trinity Group director and Hospitality NZ board member Jeremy Smith joined Nick Mills to talk business in Wellington. 

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Not all agree with the cancellation of this year's New Zealand Fashion Week.

Event organisers pulled the pin after financial pressures on the industry and made it a bi-annual event, starting from next year.

Fashion PR agency Showroom 22 director Murray Bevan says he feels a midway point could've been reached.

"When the chips are down, sometimes you double down on how hard you pushed to pull out of those troughs. And Fashion Week is a massive branding and marketing exercise for designers, so it's a shame that it's gone completely." 

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