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CYPRUS REJECTS LEVY PROPOSAL: Overnight, the focus remained on the Cypriot deposit levy/bailout issue.  In latest news the vote of ‘Plan B’ has just failed. Overnight the Cyprian parliament debated a ‘Plan B’ as they rejected the current governing party’s request to postpone the vote and ‘Plan A’ was a show stopper. ‘Plan B’  was  only slightly modified from the first cut as …

Transport Minister Gerry Brownlee welcomed the new open skies air services agreement between New Zealand and Brazil. “Brazil is touted to become one of the world’s most powerful emerging economies,” Brownlee says. “It will also host the next FIFA World Cup and Olympic Games. “Travel between New Zealand and Brazil is increasing, with around 10,000 Brazilians visiting New Zealand each year and over …

New Zealand banks face what’s expected to be the biggest class suit the country’s seen over $1 billion in default fees claimed by lenders over the past six years. Three of Australasia’s biggest law firms will announce the class suit to reclaim the fees, according to a statement. The fees are charged when customers overdraw their accounts, pay credit card …

If Hugo Chavez was in John Key ‘s place he’d bellow ‘Vete al inferno’ if asked if he planned to go to the funeral of a political leader who was his polar opposite. He’s not of course. Chavez is dead. Finally. Succumbed to cancer. Poisoned by the Americans says Vice President Nicolás Maduro. As he would. Let’s face it the …

The value of cash market trading on New Zealand’s stock exchange jumped 58 percent in February from the same month a year earlier as low interest rates keep investors looking for better returns. Total trades increased 4.8 percent to 81,624 last month from February 2011 with the total value traded at $3.5 billion, according to the NZX’s monthly metrics. Average …

The death of Venezuelan President Hugo Chavez had the Prime Minister’s staff burning the midnight oil at a humid hotel on the Colombian coast to recalibrate the Chilean part of his four country Latin American swing to accommodate the wish of Chilean President Sebastian Pinera to attend Chavez’s state funeral. The state funeral is due to take place in Caracas …

Primary Industries Minister Nathan Guy has extended the official drought areas across the North Island, meaning government support programmes can be rolled out to those areas. A state of drought has been officially declared in South Auckland, Waikato, Bay of Plenty and Hawkes Bay, Guy said in a statement. That covers Auckland Council area south of the Harbour Bridge, all …

Blue Star Group, the revitalised printing operation under new ownership, has bought a New Zealand labels unit from the receivers of ailing rival Geon Group. The sale was completed yesterday and will see the transfer of 38 Geon employees and their entitlements to Blue Star, receivers Andrew Greenfell and William Black of McGrathNicol said in a statement. No price was …

Prime Minister John Key says he and Mexican President Enrique Peña Nieto have committed to strengthening the trade relationship between New Zealand and Mexico, following bilateral talks in Mexico City. “Mexico and New Zealand have shared a friendly relationship for 40 years. President Peña Nieto and I agreed the trade relationship between our two countries, while healthy, could be strengthened …