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New Zealand Plans More Digital Skills Investment to Bridge Gap – BNN

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2 years ago

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(Bloomberg) —

New Zealand will make a new investment in the digital technologies sector with the aim of increasing skills development and encouraging local companies to market their talents globally.

The government will allocate NZ$20 million ($13 million) over four years from this week’s budget, Minister for the Digital Economy David Clark said in a statement Monday in Wellington. The spending will support the growth of the Software-as-a-Service community and take a new a marketing initiative led by industry in partnership with government, to the world, he said.

“Through this new funding, the SaaS Community can build its momentum further and expand its network,” Clark said. ‘It will also support the delivery of short courses for digital skills development.”

The government wants to address a shortfall of investment in technology education that has created a skills gap and forced several local companies to shift offshore to find the talent they need. A report from the OECD highlighted a weak pipeline of advanced information technology skills while Wellington-based game developer Pikpok this year opened a studio in Colombia to tap talent there that isn’t available at home.

“We know for the digital sector to grow, it needs access to the right people,” said Clark. “Historically, there has been a ‘skills mismatch’, but the key to future success is training our domestic talent with the right skills, and encouraging New Zealanders to participate, whatever their background.”

Changes to the immigration system will help alleviate some of the immediate pressures on industry, with key roles including software engineers entitled to fast track residency, he said.

©2022 Bloomberg L.P.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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6 days ago

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October 16, 2024

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

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2 weeks ago

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October 11, 2024

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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2 weeks ago

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October 10, 2024

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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