New Zealand shares rose, with the NZX 50 Index nearing its 5-year high, as investors took heart in progress with Christchurch’s rebuild and a hot Auckland property market in driving Fletcher Building to the highest in 16 months. The NZX 50 rose 18.16 points, or 0.5 percent, to 4041.52. Within the index, 21 stocks rose, 21 fell and eight were …

The New Zealand dollar is headed for a 1.4 percent gain this week after Reserve Bank governor Graeme Wheeler quashed expectations for a rate cut, singling out the country’s inflationary pressures as his number one bugbear. The kiwi traded at 83.18 US cents at 5pm in Wellington from 83.12 cents at 8am and 82.87 cents yesterday. The trade-weighted index climbed …

Following in the footsteps of US President Barack Obama, Economic Development Minister Steven Joyce took to Twitter with his latest comments on policy. Joyce took aim at ex-Endace CEO Selwyn Pellett after he took the government to task on R&D grants, the same  program from which Endace received $11.1 million in funding. “I remain unhappy about taxpayers’ previous R&D investment …