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The New Zealand dollar is heading for a 0.2 percent weekly decline against the greenback, after the prospect for higher US interest rates pushed the local currency to a seven-month low. The local currency traded at 81.37 US cents at 5pm in Wellington from 81.51 cents on Friday in New York last week. It traded at 81.43 cents at 8am, up …

Queenstown Airport Corp, the nation’s fourth busiest airport, handled a record number of passengers this winter as it benefited from increased flights and capacity, prompting it to install a $450,000 ‘pop-up’ tent structure for international passengers as it finalises plans for expanding its terminal. Trans-Tasman flights were 25 percent ahead of last winter, with the airport hitting a record 20 international flights on …

Pacific Edge, the non-invasive bladder cancer test maker, has appointed former McKinsey & Co consultant Charles Sitch to its board. Sitch will join the Dunedin-based company’s board on Nov. 1 as an independent director, Pacific Edge said in a statement. Sitch is also a director of Spark New Zealand, and was previously a senior director at McKinsey, working with executives …

New Zealand consumer confidence rose in September from a 10-month low, as households adjust to a more moderate pace of economic growth. The ANZ-Roy Morgan Consumer Confidence Index rose 2 points to 127.7, paring August’s 7 point drop to 125.5. The current conditions index rose to 124.1 from 123.4 and the future conditions index increased to 130.2 from 126.9. Almost all …

Vocus Communications, the ASX-listed telecommunications company, has declared its $115.8 million acquisition of privately owned New Zealand fibre optic cable network operator FX Networks unconditional. The Sydney-based company has received acceptances totalling 99.87 percent of FX Networks’ voting stock, with one shareholder holding out, Vocus said in a statement to the ASX. It will look to enforce mop up provisions under …

Goodman Property Trust, which is selling assets to fund development, will spend $33.4 million on four developments and has sold the Carter Holt Harvey Packaging Facility in Christchurch for $16.37 million to an undisclosed buyer. The four developments are expected to generate around $2.8 million of annual income and boost valuation gains between 10 percent and 15 percent, Goodman (NZ), the manager …

Christchurch City Holdings, the city council’s investment and infrastructure unit, has declared its takeover of Lyttelton Port Co unconditional after satisfying the last of its requirements. Christchurch City Council’s investment and infrastructure unit, was offering $3.95 a share, and a 20 cents per share special dividend for a total of $4.15 to mop up the remaining stock after entering into …

New Zealand’s annual net migration rose to a record in August, exceeding Treasury’s forecasts, and spurred by more migrant arrivals and the ongoing decline of Kiwis leaving for Australia. The country gained a net 43,500 migrants in the year ended Aug. 31, the highest ever gain, according to Statistics New Zealand. Annual arrivals reached a new high of 103,900, while …

New Zealand exporter of biogas technology Greenlane Biogas has been sold to a listed UK company for $25 million. Pressure Technologies said it had bought the business and certain assets of the New Zealand company, which is a global developer and supplier of patented technology for upgrading raw biogas into high purity bio-methane. The deal takes effect from Oct. 1 …

The New Zealand dollar advanced as investors bet on stability ahead of the general election tomorrow and as weaker US data weighed on the greenback. The kiwi rose to 81.43 US cents at 8am in Wellington, from 81.06 cents at 5pm yesterday. The trade-weighted index advanced to 78.48 from 78.28 yesterday. New Zealand holds its general election tomorrow, with Radio New Zealand’s …