John Key

John Phillip Key (born 9 August 1961) is the 38th Prime Minister of New Zealand, in office since 2008. He has led the New Zealand National Party since 2006.

After a career in foreign exchange, Key entered the New Zealand House of Representatives in 2002 representing the Auckland electorate of Helensville, a seat that he has held since then. In 2004, he was appointed Finance Spokesman for National and eventually succeeded Don Brash as the National Party leader in 2006. After two years as Leader of the Opposition, Key led his party to victory in both the November 2008 and the November 2011 general elections.

Personal Life

Key was born in Auckland, New Zealand, to George Key and Ruth Key (née Lazar), on 9 August 1961. His father was an English immigrant and a veteran of the Spanish Civil War and World War II. He died of a heart attack in 1967. Key and his two sisters were raised in a state house in Christchurch by his Austrian Jewish immigrant mother.

He attended Aorangi School, then Burnside High School, and earned a Bachelor of Commerce degree in accounting from the University of Canterbury in 1981. He has attended management studies courses at Harvard University.

Key met his wife Bronagh when they were both students at Burnside High School. They married in 1984. She also has a BCom degree, and worked as a personnel consultant before becoming a full-time mother. They have two children, Stephie and Max.

On 25 July 2008, Key was added to the New Zealand National Business Review (NBR) Rich List for the first time. The list details the wealthiest New Zealand individuals and family groups. Key had an estimated wealth of NZ$50 million. Key is the wealthiest New Zealand Member of Parliament.

From : www.wikipedia.org

Graeme Hart

Graeme Hart (born 1955) is a New Zealand businessman reported to be the richest person in Australasia with a personal fortune of NZ$8.8 billion (US$6.1b) according to the 2009 Forbes rich list. The 2007 September 22–28 issue of the New Zealand Listener listed Hart as being the 29th most powerful New Zealander. He prefers to stay out of the general media and makes few public appearances.

Much like other leveraged buyout (LBO) private equity investors, Hart has a preference for buying under-performing and under-valued companies with steady cash flows which can be turned around through strong cash management, cost-cutting and restructuring with other businesses. Since his 2006 purchase of Carter Holt Harvey he has focused his acquisitions on the paper packaging sector. His largest acquisition to-date was for Alcoa's Packaging & Consumer group in 2008 for US$2.7bn, later renamed Reynolds Packaging Group. He does not directly manage his businesses, and is focused mostly on the financing related to re-capitalization of the companies.

Unlike other LBO investors however, Hart is not a believer of sharing the returns of the company, and does not allow any member of the team to get any share in the equity of the businesses. In this manner, he ensures that the risk and the substantial rewards of an LBO investment remain solely with him.

Forbes stated that Hart was the 110th-richest person in the world, as of 2009[update].

Early Years

Hart's successful business career has humble origins—in his younger days, he worked as a tow-truck driver and as a panel beater after leaving school at 16.

In 1987, Hart completed an MBA from the University of Otago. His research thesis outlines the strategy for Rank, then a small hire company, to evolve into a major corporation. This strategy relies on using the cash flow of well-performing companies to fund debt, which as it gets paid off, increases the equity value of the initial investors, a.k.a leveraged buyouts.

Hart gained a big break when he purchased the Government Printing Office for less than its capital value in 1990. The purchase was 1.4x Earnings and Hart was provided generous payment terms. Then New Zealand Prime Minister David Lange initially refused to sign off the transaction. The following year he bought Whitcoulls Group which at that time included a retail chain of bookstores as well as office and stationery concerns. He has since sold off these interests.

Personal

Graeme Hart has a residence in Auckland, New Zealand. He attended Mount Roskill Grammar School.Hart says he lacks interest in making money for its own sake. He describes his personal wealth as a "by-product" of what he does.

While he prefers to keep a low profile in the general media he was notable for the launch of his 58m luxury motor yacht Ulysses at Auckland's Viaduct Harbour in January 2006. The yacht is valued at nearly $100M and took five years to complete due to being gutted by a fire during refit by a New Orleans shipyard.

From : www.wikipedia.org

Tokelau [New Zealand]

Three far-flung coral atolls - Atafu, Nukunonu and Fakaofo - make up Tokelau, a Polynesian territory of New Zealand in the South Pacific.

Lying between New Zealand and Hawaii, Tokelau has few physical links with the wider world. There is no airport and it takes more than a day at sea to reach its southern neighbour, Samoa.

Tokelau's electorate, numbering around 600, have rejected self-rule in two separate referendums held in 2006 and 2007.

Overview

Most of the 1,500 islanders live by subsistence farming. Thousands have chosen to leave, usually for New Zealand or Samoa. The latter has a similar culture and language.

The UN has earmarked Tokelau as one of a number of territories where it wants to encourage greater independence. However, Tokelauans voted in February 2006 to retain their colonial status, rather than to take on greater autonomy.

Tokelau has few resources apart from its fishing grounds, but makes some money from the sale of fishing rights and the use of its internet domain. New Zealand provides around 80% of the territory's budget and has tried to allay fears that it will abandon the atolls should Tokelau become autonomous.

Emigrants from other Polynesian islands were the first settlers. Nineteenth-century whalers and missionaries were among the first European visitors to Tokelau, formerly known as the Union Islands.

The atolls became a British protectorate in the late 19th century and for a time were part of the Gilbert and Ellice Islands colony. New Zealand administered Tokelau from 1926.

Like other low-lying Pacific territories, Tokelau is said to be at risk from rising sea levels. It is also vulnerable to tropical cyclones.

In July 2009 Tokelau announced its ambition to become completely energy self-sufficient in a year's time. Tokelau's Ulu (leader), Foua Toloa, said that "we'll try to beat every nation in the world to become the first country to be energy renewable, completely run by solar power and a little bit of coconut oil."

At the end of 2011, Tokelau - together with its Pacific neighbour Samoa - took a radical step to improve regional trade links by "skipping" a day and jumping westward across the international dateline to bring it closer in time to its main trade partners Australia and New Zealand.

Facts

    * Territory: Tokelau

    * Status: Self-governing territory of New Zealand

    * Population: 1,466 (NZ Statistics Office, 2006)

    * Capital: Seat of government rotates annually among the atolls

    * Area: 12 sq km (4.7 sq miles)

    * Major languages: Tokelauan, English

    * Major religion: Christianity

    * Life expectancy: 68 years (men), 70 years (women)

    * Monetary unit: 1 New Zealand dollar ($NZ) = 100 cents

    * Main exports: Copra, handicrafts, stamps and coins

    * GNI per capita: n/a

    * Internet domain: .tk

    * International dialling code: +690

Leaders

Head of state: Queen Elizabeth II

Political leadership revolves around three Faipule, or village heads, who take it in turns to oversee a cabinet - the Council for Ongoing Government - for a year.

The General Fono, an assembly of elected delegates, handles local legislative affairs. It is also responsible for the territory's budget.

Each atoll has a Taupulega, or Council of Elders.

From : BBC News

Niue [New Zealand]

The residents of the Pacific island of Niue are far outnumbered by their compatriots who have migrated to New Zealand.

Home to fewer than 2,000 islanders, the self-governing coral atoll is trying to encourage some of the 20,000 overseas Niueans - many of them New Zealand-born - to return.

Overview

Niue operates in free association with New Zealand, its main source of aid and its biggest trading partner. New Zealand is obliged under the island's constitution to provide "necessary economic and administrative assistance".

Aside from defence matters and foreign relations, Niue runs its own affairs. All Niueans are New Zealand citizens and can take up residency there.

The long-running population decline was aggravated by Cyclone Heta, which devastated the island in 2004. Some observers fear that the community's viability is threatened by migration.

Economic activity revolves around fishing, agriculture and tourism. Surrounded by a coral reef and with a rugged coastline, the island attracts whale-watchers, divers and yachting enthusiasts.

Technology-savvy Niue has embraced the internet. It earns money from the sale of its suffix and in 2003 it became the first territory to offer a free wireless internet service to all residents.

Lying between Tonga and the Cook Islands, Niue was settled by Samoans in the first century AD. Britain's Captain James Cook sighted the island in 1774, dubbing it "Savage Island" after locals thwarted his landing attempts.

British missionaries arrived in the 19th century and the island was subsequently administered from New Zealand. Niueans voted to become self-governing in 1974.

Facts

    * Territory: Niue

    * Status: Self-governing territory in free association with New Zealand.

    * Population: 1,761 (official figure, 2004)

    * Capital: Alofi

    * Area: 260 sq km (100 sq miles)

    * Major languages: Niuean, English

    * Major religion: Christianity

    * Life expectancy: 67 (men), 76 (women) (UN)

    * Monetary unit: 1 New Zealand dollar ($NZ) = 100 cents

    * Main exports: Root crops, coconuts, honey

    * GNI per capita: n/a

    * Internet domain: .nu

    * International dialling code: +683

Leaders

Prime minister: Toke Talagi

Toke Talagi was elected in June 2008 to a serve a three-year term. He gained the backing of parliament for another term in May 2011.

Mr Talagi had previously served in the roles of deputy premier and finance minister. He is also president of the Niue Rugby Union.

Toke Talagi was chair of the regional inter-governmental organization, the Pacific Islands Forum from 2008 to 2009.

From : BBC News

Cook Islands [New Zealand]

The 15 volcanic islands and coral atolls of the Cook Islands are scattered over 770,000 square miles of the South Pacific, between American Samoa to the west and French Polynesia to the east.

A former British protectorate, the territory is a self-governing state in free association with New Zealand.

Overview

Its economy centres on tourism; the territory's natural assets include fine beaches and volcanic mountains.

More than twice as many native Cook Islanders live in New Zealand than live in the islands themselves. Most of them have left in search of a brighter economic future. As New Zealand citizens they can also live in Australia.

The government has encouraged islanders to return. Businesses have been involved in the drive. But the population level has continued to fall.

Black pearls are the chief export. Agriculture, the sale of fishing licences to foreign fleets and offshore finance are also key revenue earners.

The Cook Islands are prone to tropical storms; Hurricane Martin devastated the northern islands in 1997 causing substantial losses for the black pearl industry.

Named after Captain Cook, who explored them in 1773, the islands were once autonomous, home to tribes of mixed Polynesian ancestry. Governments still seek advice on matters of culture, custom and land ownership from a council of hereditary leaders known as the House of Ariki.

Facts

    * Territory: Cook Islands

    * Status: Self-governing territory in free association with New Zealand.

    * Population: 18,000 (UN, 2004)

    * Capital: Avarua, on Rarotonga

    * Area: 237 sq km (91 sq miles)

    * Major language: English and Cook Islands Maori

    * Major religions: Christianity

    * Life expectancy: 70 (men), 76 (women) (UN)

    * Monetary unit: 1 New Zealand dollar ($NZ) = 100 cents

    * Main exports: Black pearls

    * Internet domain: .ck

    * International dialling code: +682

Leaders

Head of state: Queen Elizabeth II, represented by a governor

Prime Minister: Henry Puna

Lawyer and pearl farmer Henry Puna took office in December 2010 after his Cook Islands Party won a comfortable majority in elections.

The Cook Islands Party unseated the Democratic Party which had dominated politics on the islands for the past decade.

Mr Puna's party won a two-thirds majority of the 24 seats in parliament.

Before the elections he was quoted as saying he planned to pay a $770 "baby bonus" to the mother of each child born in the Cook Islands to try reverse a steady decline in population caused by migration to New Zealand.

Mr Puna studied law in Auckland University and the University of Tasmania before returning to practice law in the Cook Islands.

From : BBC News

New Zealand

New Zealand, a wealthy Pacific nation, is dominated by two cultural groups: New Zealanders of European descent, and the minority Maori, whose Polynesian ancestors arrived on the islands around 1,000 years ago.

Agriculture is the economic mainstay, but manufacturing and tourism are important and there is a world-class film industry.

New Zealand has diversified its export markets and has developed strong trade links with Australia, the US, and Japan. In April 2008 it became the first Western country to sign a free trade deal with China.

British sovereignty was established under the 1840 Treaty of Waitangi - a pact between Maori chiefs and the British government over land rights.

The treaty gave rise to land claims which culminated in the "New Zealand Wars", a series of skirmishes between colonial forces and Maori in the North Island.

The government awarded money and land in settlements during the 1990s, but the land issue remains controversial.

In 1984 the government embarked on a dramatic and controversial economic reform programme, which lifted controls on wages, prices and interest rates and removed agricultural subsidies.

The landscape is diverse, and sometimes spectacular. This has fuelled tourism; visitors are drawn to the glacier-carved mountains, lakes, beaches and thermal springs. Because of the islands' geographical isolation, much of the flora and fauna is unique to the country.

New Zealand plays an active role in Pacific affairs. It has constitutional ties with the Pacific territories of Niue, the Cook Islands and Tokelau.

Its troops served in East Timor when violence broke out in the territory in 1999 and were part of a multinational force intended to restore order to the Solomon Islands in 2003. Further afield, New Zealand forces have backed peacekeeping and development efforts in Afghanistan.

But its anti-nuclear stance - including a ban on nuclear-powered or nuclear-armed vessels from its waters - put it at odds with the US in the 1980s.

A significant amount of New Zealand's electricity is generated by hydropower sources and the country has a range of renewable energy sources at its disposal.

Migration patterns have changed, with most incomers coming from Asia and Pacific island states, rather than from the UK and Australia. Officials estimate that Asians will make up 13% of the population by 2021 from about 9% in 2009.

Facts

    * Full name: New Zealand

    * Population: 4.3 million (UN, 2010)

    * Capital: Wellington

    * Largest city: Auckland

    * Area: 270,534 sq km (104,454 sq miles)

    * Major languages: English, Maori

    * Major religion: Christianity

    * Life expectancy: 79 years (men), 83 years (women) (UN)

    * Monetary unit: 1 New Zealand dollar ($NZ) = 100 cents

    * Main exports: Wool, food and dairy products, wood and paper products

    * GNI per capita: US $29,050 (World Bank, 2010)

    * Internet domain: .nz

    * International dialling code: +64

Leaders

Head of state: Queen Elizabeth II, represented by a governor-general

Prime minister: John Key

John Key led the centre-right National Party to victory in the November 2008 general election and again in the November 2011 elections.

His party's 2008 victory ended nine years of Labour-led government.

The National Party fell short of a parliamentary majority in both the 2008 and 2011 elections and was compelled to form a coalition with other parties.

Born in 1961 and brought up in relative poverty by his Austrian-Jewish immigrant mother after the early death of his father, Mr Key became a currency trader and has acquired a substantial personal fortune.

He rose to be head of foreign exchange at Merrill Lynch in Singapore, and served as a member of the Foreign Exchange Committee of the New York Federal Reserve Bank in 1999-2001.

National Party president John Slater encouraged him to enter politics in 2001, and Mr Key was elected to parliament the following year. He was appointed opposition finance spokesman in 2004, and became party leader in 2006 after Don Brash resigned over allegations of election-funding irregularities.

Since taking over the party, Mr Key has positioned it more on the centre ground. His first speech as leader pledged a future government to measures to prevent the creation of an "underclass", and he has said that reducing greenhouse gas emissions by 50% in the next 50 years will be a priority.

New Zealand has a single-chamber parliament, the House of Representatives, which is elected for a three-year term. Coalition governments have been the norm since proportional representation replaced the "first past the post" electoral system in 1993.

From : BBC News