New Zealand Oil & Gas is ramping up spending in exploration and evaluation as it looks to find replacements for its Kupe and Tui oil and gas fields. The Wellington-based company spent $25 million on exploration and evaluation in the three months ended March 31, according to its quarterly cash flow report. Both its Tui oil field and Kupe oil …

New Zealand business confidence extended its slide from a 20-year high, while remaining at elevated levels, amid expectations the central bank will continue to hike interest rates to quell inflation in an accelerating economy. A net 64.8 percent of firms are optimistic about general business conditions this month, down from 67.3 percent in last month’s survey and 70.8 percent in …

Woolworths, Australia’s biggest supermarket operator, said third quarter sales barely budged at its Countdown chain in New Zealand, in the face of a subdued, highly competitive market. New Zealand supermarket sales edged up 0.1 percent to $1.4 billion in the 13 weeks ended April 6, the Sydney-based retailer said in a statement. The strength of the kiwi dollar meant sales …