Business New Zealand

  • Air New Zealand announced an after-tax profit of 463 million New Zealand dollars for the year ending June, an increase of 42 percent over the previous year. Air New Zealand Chief Executive Christopher Luxon said in a statement that competition is increasing because tourism to the South Pacific nation remains strong and lower fuel costs make the country a more...

  • WELLINGTON, Fla. _ KLX Inc. on Wednesday reported fiscal second-quarter profit of $9.6 million. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 49 cents per share. Three analysts surveyed by Zacks expected $392.7 million.

  • WELLINGTON, New Zealand— A former pharmaceutical executive who Chinese authorities accuse of embezzling money and fleeing to New Zealand has settled his case for $31 million, New Zealand police said Tuesday, in a deal that represents an unusual level of cooperation between the two countries. New Zealand authorities refused to answer further questions about...

  • Investors yearning higher yields while keeping a lid on risks have had a hard time of late, but Kiwi bonds may come to the rescue.

  • NZ Bonds

    New Zealand's interest rate differential compared with the rest of the world makes Kiwi bonds attractive, notes Jeremy Sullivan of Hamilton Hindin Greene.

  • SHANGHAI, China, Aug 12- As David Byrne ate breakfast at the Tongli Lakeview Hotel outside Shanghai one Sunday in April, an angry customer was waiting for him. The previous day, he had introduced himself to a roomful of potential customers in the hotel as the new London head of a foreign currency trading platform whose website offered very high returns.

  • SHANGHAI, China, Aug 12- As David Byrne ate breakfast at the Tongli Lakeview Hotel outside Shanghai one Sunday in April, an angry customer was waiting for him. The previous day, he had introduced himself to a roomful of potential customers in the hotel as the new London head of a foreign currency trading platform whose website offered very high returns.

  • WELLINGTON, Aug 12- The Reserve Bank of New Zealand said on Friday it was delaying the start of proposed changes to property investment loan-to-value restrictions nationwide by a month to Oct. 1, in response to feedback from the banking sector. New Zealand house prices have increased by around 50 percent since 2010, driven by strong immigration, low mortgage...

  • Central Banks

    The RBNZ needed to consider how much lower can it cut record-low cash rates in order to derive a weaker kiwi, says UOB's Alvin Liew.

  • WELLINGTON, Aug 11- The Reserve Bank of New Zealand cut interest rates a quarter point to a record low of 2.0 percent on Thursday and flagged the need for more cuts as it struggles to head off the dangers of deflation at home. "Central banks are' reluctant cutters' as they head towards lower bounds," said Jarrod Kerr, a senior interest rate strategist at Commonwealth...

  • New Zealand's central bank cut benchmark interest rate by 25bps to 2.0 percent and indicated at least one more rate cut would be needed.

  • RBNZ Rate

    HSBC's Paul Bloxham says the RBNZ cut rates because inflation is still well below target, even though New Zealand's growth story is still quite good.

  • The central bank faces a challenge on Thursday: Cut aggressively and risk a housing bubble or let disinflation persist with a smaller cut.

  • WELLINGTON, July 29- New Zealand's construction boom led to a 35 percent surge in building consents in the year to June, soothing concern over rising house prices to reinforce expectations that the central bank will reduce interest rates further. The Reserve Bank of New Zealand held interest rates at 2.25 percent at its June review while voicing strong concern...

  • WELLINGTON, July 29- New Zealand's construction boom led to a 35 percent surge in building consents in the year to June, soothing concern over rising house prices to reinforce expectations that the central bank will reduce interest rates further. The Reserve Bank of New Zealand held interest rates at 2.25 percent at its June review while voicing strong concern...

  • Pokemon Go players meet at Sydney Opera House on July 20, 2016 in Sydney, Australia.

    Nintendo's shares fell 10 percent in early trade after they more than doubled in value on the record-breaking success of the "Pokemon Go" mobile game.

  • NZ Housing

    The RBNZ is concerned a downturn in the property market might result in financial instability, says Capital Economics' Paul Dales.

  • WELLINGTON, July 13- New Zealand said on Wednesday it will introduce a registry of foreign trusts that local tax and law enforcement agencies could use to investigate suspected money laundering and tax evasion. New Zealand has long been identified as offering a trust regime popular with the offshore trust business. "Until we resolve that lack of clarity we...

  • SEOUL, July 13- Nintendo's smash hit Pokemon GO is likely to face hurdles in South Korea, where Google mapping functions are restricted due to security issues with North Korea- though some fans are already trekking out to one remote area where it can be played. South Korea is the world's fourth-biggest gaming market after China, the United States and Japan,...

  • WELLINGTON, July 13- New Zealand said on Wednesday it will introduce a registry of foreign trusts that local tax and law enforcement agencies could use to investigate suspected money laundering and tax evasion. New Zealand has long been identified as offering a trust regime popular with the offshore trust business. "Until we resolve that lack of clarity we...