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Business Report for Monday, March 15, 2010

15/03/2010 6:56:01

Trade unions from countries involved in this week's Trans Pacific Partnership talks are calling for an agreement that protects workers.

New Zealand will open the five days of trade talks with the United States, Brunei, Chile and Singapore in Melbourne today.

CTU president Helen Kelly says a declaration has been signed by unions from all those countries calling for a new and fairer deal in trade agreements.

"We want issues like issues like labour rights, environmental protection and the right of governments to government to be at the foremost of any

trade agreement."

Ms Kelly says she supports trade agreements, but it must not happen without consultation in the community.

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China is bracing for another tough year despite recent economic growth, but opposes foreign pressure to appreciate the value of its currency.

U.S. President Barack Obama has asked China to allow the yuan to rise in value, amplifying complaints that Beijing artificially keeps the yuan undervalued to boost exports.

CNN reports that China's Premier Wen Jiabao says it is going to be a complicated year for China's economy which still faces a lot of uncertainties. He says China will keep its currency stable, because the tactic has already played an important role in the global economic recovery.

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February was a record breaking month for Christchurch Airport, with nearly 142,000 passengers passing through.

It beats the previous record set in February 2008 by more than 2,000 people.

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To the markets, where the NZX50 begins the week two points higher on 3,225.

On Wall Street, the Dow Jones Industrial Average is up 12 points on 10,624.

The New Zealand dollar is trading at 70.17 US cents, 76.58 Australian cents, 50.96 euro cents, 63.50 yen and 46.11 pence.

The 90 day bank bill rate is 2.73 percent and the TWI is 64.64.

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