New Zealand shares rose to a record led by Freightways after a profit upgrade. Mainfreight and Restaurant Brands paced gains as investors hunted for yield investments after the Reserve Bank kept interest rates on hold. The NZX 50 Index rose 14.305 points, or 0.3 percent, to 5370.18, marking the sixth record close in a row. Within the index, 23 stocks rose, 14 fell and 13 were unchanged. Turnover was $94.3 million. …

Vital Healthcare Property Trust, the country’s biggest listed medical and healthcare property investor, has signalled development plans totalling A$15.5 million in Australia, and has sold a New Zealand property as it looks to exit low-growth assets. The property investor has a A$9.5 million redevelopment plan to expand its Belmont Private Hospital in Brisbane and A$6 million upgrade of its Hurstville …

A quarter of New Zealand’s $35.7 billion of water, wastewater and stormwater infrastructure is more than 50 years old and up to 20 percent needs renewal or is unserviceable, according to the 3 Waters project by Local Government New Zealand, the first national picture ever published of New Zealand’s water assets. Overall, New Zealand’s water infrastructure was sound and performing as needed, but investment …