Billionaire Li Ka-shing’s Cheung Kong Infrastructure Holdings (CKI) is describing New Zealand as a core investment destination after it beefed up its presence with $501 million purchase of EnviroWaste. The biggest user of waste material by mass in Hong Kong is looking to leverage its expertise in materials handling as it expands into waste management, while collecting a steady income …

Wall Street was mixed as concerns about the US debt ceiling, and the potential impact on the economy, moved to the fore. Treasury Secretary Timothy Geithner warned that failure to lift the US$16.4 trillion debt limit by early March would “impose severe economic hardship.” Fitch Ratings on Tuesday said it expects that Congress will raise the debt ceiling and that …

T he New Zealand dollar rose on indications that the economy is finally gaining momentum without setting off inflation and after US Federal Reserve chairman Ben Bernanke indicated quantitative easing to stimulate the US economy would continue throughout 2013. The kiwi was at 83.94 US cents at 5.25pm, from 83.94 US cents at 8am and 84.02 US cents at 5pm …

Toll Holdings has revealed a possible cost of $19 million from its battle with the Inland Revenue Department over the use of optional convertible notes to shuffle trans-Tasman income. But the company has yet to include provisioning in its accounts for the possible loss of its tax dispute as a key Court of Appeal decision is still pending on the …

The share price of Diligent Board Member Services rose as much as 2 percent after the provider of software for company directors posted record sales in 2012. Diligent said fourth-quarter new sales of US$6.4 million (NZ$7.6 million) took annual new sales to US$26.3 million, a 66 percent increase over the previous year. The Asia-Pacific region experienced exceptional growth in the …

New Zealand’s economy surged in the December quarter to the best level since mid-2007, according to the Quarterly Survey of Business Opinion, which shows firms are more optimistic and output is increasing across the board. The survey, conducted by the New Zealand Institute of Economic Research (NZIER), shows a rebound in activity, particularly in Canterbury but also a “very good …

The New Zealand dollar was testing 84 US cents in early trading after having a strong session overnight as the US dollar weakened. The kiwi was at 83.94 US cents at 8am, up from 84.02 US cents at 5pm on Monday. It traded as high as 84.30 overnight. Support at 83.60 cents held on Monday so the kiwi resumed its …

New Zealand shares rose in relatively light trading, the positive tone led by high-yielding retailer Pumpkin Patch and the country’s largest construction company, Fletcher Building. The NZX 50 Index rose 22.16 points, or 0.53 percent, to 4153.91 at 5pm. Within the index, 26 stocks rose, while 10 fell, leaving 14 unchanged. Turnover was $69.0 million in light early new year …

The New Zealand dollar nudged higher on Monday after falling late last week and a test of higher levels is in prospect this week if data is supportive. The kiwi was at 84.02 US cents at 5pm, up from 83.71 US cents at 8am but still down from 84.25 US cents at 5pm on Friday. The NZIER business confidence survey …

The price of internet connection to the rest of the world is dropping again as New Zealand’s only international cable owner, Southern Cross Cables, announces a 20 percent cut in its capacity prices. However, critics of the single carrier say it should be cutting its fees much harder to encourage the uptake of fast internet services which government policies have …