The New Zealand dollar recovered from intraday lows amid buying ahead of the monetary policy statement on Thursday, as traders speculate the central bank could be less dovish than the market is pricing. The kiwi rose to 85 US cents from 84.88 cents at 8am to be lower than in late trading yesterday at around 85.13 cents. The trade weighted index traded at 79.28 from …

The cost of the US$27 million exploratory oil and gas Oi well offshore Taranaki has risen to US$40 million, largely as a result of the drilling partners being forced to plug and abandon the first well, which encountered technical difficulties at a depth of 1,507 metres. The Oi-1 well is a partnership between operator AWE (31.25 percent), Pan Pacific Petroleum (50 percent) …

A sharp slowdown in China’s growth, financial market volatility, a sustained decline in commodity prices and a drop in house prices are the biggest potential risks facing the New Zealand economy, according to an assessment by the International Monetary Fund. The IMF gives New Zealand a broadly favourable appraisal in its latest country report, noting that economic growth is “becoming increasingly …