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WELLINGTON Cheap NHL Hockey Jerseys , March 25 (Xinhua) -- Thousands of New Zealand jobs could be lost if the government and the central bank fail to take action to lower the country's overvalued dollar, the New Zealand Manufacturers and Exporters Association (NZMEA) warned Wednesday.


The New Zealand dollar has hit record highs against the Australian dollar and the Euro Cheap Hockey Jerseys From China , and its overvaluation and high volatility is damaging manufacturers and exporters, NZMEA chief executive John Walley said.


"The Reserve Bank of New Zealand (RBNZ) continues to express concern Cheap Hockey Jerseys China , like a broken record, around the 'unjustified and unsustainable' level of our currency Cheap Custom Hockey Jerseys , but there has yet to be any real action to address the issue," Walley said in a statement.


He also criticized the government for its lack of empathy for the export sector despite its long-standing goal of increasing exports.


"While businesses can hold on for a time under difficult conditions as an overvalued and volatile exchange rate eats away at margins Cheap Hockey Jerseys , this can't go on forever deferred investment from low returns damages future competitiveness, innovation Cheap NHL Jerseys From China , employment and their ability to operate successfully from New Zealand," he said.


"To put this in perspective Cheap NHL Jerseys China , in the past week I have heard from two very different manufacturers who are considering the relocation of operations offshore due to the chronic currency problem. This represents nearly 1,000 good jobs we just can't afford to lose."


He said the expansion of macro-prudential intervention offered a solution to the RBNZ's dilemma of being stuck between an overvalued currency and inflating house prices.


The RBNZ could cut its official cash rate standing at 3.5 percent this year if inflation remained low and the RBNZ and the government took more measures to slow house price inflation.


"This could bring our interest rates closer in line with the rest of the developed world and put our tradable sector in a better position to thrive with a more balanced exchange rate Cheap Custom NHL Jerseys ," he said.


The NZMEA was pleased to see the RBNZ considering a new asset class for residential investment mortgages, both to better reflect their risk Cheap NHL Jerseys , which was higher than owner-occupied mortgages, and to prepare for the potential introduction of macro-prudential tools.


Analysts say inflation is expected to track below the RBNZ's 1- percent to 3-percent target range this year Cheap Jerseys China Wholesale , but the central bank has said it will take a neutral stance on interest rates as house prices in the biggest city of Auckland continue to soar.




RIO DE JANEIRO, Aug. 14 (Xinhua) -- Andy Murray became the first player to win two gold medals in the tennis men's singles event at the Olympic Games when he scraped past Argentine Juan Martin Del Potro 7-5, 4-6, 6-2, 7-5 to retain his London 2012 Olympic Games title on Sunday at the Olympic Tennis Centre.


The newly crowned Rio Games champion hugged Del Potro after the four-hour match, both men with tears in the eyes.


Both Murray and Del Potro, who also took bronze in this event in 2012, both joined Charles Winslow of South Africa and British Josiah Ritchie on a record two Olympic medals in the men's singles.


Men's doubles winner Rafael Nadal of Spain missed the podium after losing to Japanese Kei Nishikori 2-6, 7-6 (7-1) 3-6 in the bronze medal match.


"He played great during the whole match, I didn't play with the right energy during the whole match. I was too tired, especially playing not your 100% against a player like Kei is something almost impossible, but I tried my best and I want to congratulate Kei for a great event," said Nadal, 2008 Olympics singles champion.


Russia's Elena Vesnina and Ekaterina Makarova clinched the women's doubles title in the afternoon after beating Swiss pair Martina Hingis and Timea Bacsinszky 6-4, 6-4.


Vesnina and Makarova lifted the title in their second Olympic trip in one hour and 38 minutes, beating five-time Grand Slam singles winner Hingis, 35, who also has 11 doubles title under her name, and her younger teammate Bacsinszky.


The Russian pair hit 36 winners as compared with 28 from their opponents.


The Russians were happy to wind up their Rio journey from a bad start to a golden end. Vesnina and her partner was stuck at the airport for flight delays in Montreal, where Vesnina was competing with Makarova at the Rogers Cup in preparation for the Olympics. She spent her 30th birthday in the airport terminal there on Aug. 1.


Vesnina said they managed to find the silver lining from the delay.


"We had a tough trip to get here in Rio. We were really distressed in one moment, we missed our connection and we were trying to get here as early as we could because we played the final in Montreal and here we would have different courts, different balls, so we needed to get here early just to get ready.


"But this situation even helped us a little bit to get ready for everything in Rio," she said.


Hingis admitted that they were a little disappointed but said they already did their best.


"With Timea, and this week, I think it's the top position I could be and you just take it as a day and that's why I was emotional. We couldn't have done more than we did, we did the maximum of of our potential," she said. "Of course, you are a little disappointed but, looking back at the journey of what we did we can really take a positive from this week."


In the mixed doubles final, Bethanie Mattek-Sands and Jack Sock won an All-American fight, beating Venus Williams and Rajeev Ram 6-7 (3-7), 6-1, 10-7.




BERLIN, Aug. 22 (Xinhua) -- Dortmund eased 3-0 past fourth-division side Eintracht Trier meanwhile Hamburg craved out a 1-0 win over third-division club Zwickau at the end of the first round in German Cup on Monday.


Last year's finalist Borussia Dortmund scored three goals within 45 minutes.


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