The US dollar’s weighting has slipped in the Reserve Bank of New Zealand’s new trade-weighted index, which adds the Chinese yuan to a line-up of 17 currencies skewed to Asia and intended to more accurately reflect New Zealand’s modern trade profile. The expanded TWI represents the biggest overhaul of the currency basket since it was introduced in the 1970s  as …

Tauranga-based electricity company Trustpower says it remains committed to its renewable energy projects in Australia, in spite of the uncertainty created by the review of the Renewable Energy Targets policy by the federal government. Meridian Energy canned a 34 Megawatt hydro scheme in Northern Queensland last week, citing the uncertainty created by a long-running review of the RET, which Prime …

Kiwi Income Property Trust unitholders have overwhelmingly voted in favour of corporatisation, completing a year-long transformation that saw the property trust taking management in house by buying out Commonwealth Bank of Australia. A total of 99.9 percent of votes cast were in favour of turning the trust into a company, which is to be called  Kiwi Property Group Ltd. Its units …