The New Zealand dollar dropped after the Reserve Bank said it’s looking at ways to restrict lending on residential property investments, stoking speculation it would then have more room to cut interest rates. The kiwi fell to 75.52 US cents at 5pm in Wellington from 75.88 cents immediately before the release, to be little changed from 75.55 cents yesterday. The trade-weighted index was at …

New Zealand companies looking to do business in India should move beyond a mutual love of cricket and not wait for a free-trade agreement before seeking opportunities in the fast-growing Indian economy, says Sunil Kaushal, chairman of the India-New Zealand Business Council. “While much of the focus is on the prospect for a free trade agreement with India, waiting for its conclusion before acting …

Seeka Kiwifruit Industries, the country’s biggest kiwifruit grower, doesn’t expect earnings to be materially affected by a fire that destroyed a shed at its Oakside post-harvest site in Tauranga, with insurance likely to cover the costs. The fire destroyed the shed and significantly affected a coolstore containing about 250,000 trays, though more detailed investigations are underway, the Te Puke-based company …