New Zealand Business News

The backdrop of rising equities and recovering risk appetite encouraged investors to ditch ‘safe-haven’ currencies like USD and JPY in favour of growth sensitive currencies like NZD,” said Danica Hampton, currency strategist at Bank of New Zealand. “Upbeat global data,...

Since the downturn, National Property has sold retail property in Auckland and Tauranga to reduce its gearing to 22.5% and cut its debt with Bank of New Zealand to $51.5 million from $106 million a year earlier. It also secured...

The rural property market is unlikely to be offset with the increased dairy payout; lifestyle blocks and grazing still big sellers

Turners & Growers 25 November 2009 Gibbs Dismisses Zespri’s “hysterical” Claims Turners & Growers Chairman, Tony Gibbs today dismissed Zespri’s claims over concerns being raised about the monopoly internationally as typically “hysterical” and said they were simply another smokescreen...

However, concerns about the largest shareholder selling out and high debt levels have resulted in a lack of support and the company is deferring its plans. Synlait says it has had strong support for an IPO from institutions and the...

Synlait Milk's plans for a $150 million float on the NZX by Christmas have been deferred due to lack of support, but could be resurrected in 2010. Canterbury-based Synlait had been looking to raise the extra funds from local and...

The evidence that the current tariffs of 10% on clothing and shoes serve no useful purpose is compelling...All that they achieve is to make clothing and shoes, which are practically all imported, more expensive for consumers...The Treasury had a look...