The New Zealand dollar was little changed against its trans-Tasman counterpart after the Reserve Bank of Australia kept its key rate at a record low, while saying a weaker currency was desirable to foster balanced economic growth. The kiwi traded at 92.53 Australian cents at 5pm in Wellington from 92.65 cents immediately before the release, and 92.45 cents yesterday. It …

The Reserve Bank of Australia said its currency, near a 4 1/2-year low, remains over-valued and needs to decline further to assist the economy across the Tasman, which is growing at a moderate pace. The central bank kept its cash rate unchanged as expected at a record low 2.5 percent, where it has been since August 2013. Governor Glenn Stevens issued a statement …

Delegat’s Group, the listed winemaker, plans to put a toehold in China next year as part of a long-term goal of boosting overall sales by 52 percent in the next five years. The Auckland-based company set up an in-market sales team in Japan this year and plans to do the same with three to four staff in Shanghai next year to push …