The New Zealand dollar pared gains in local trading after figures showed Australian exports were flat in November, disappointing investors who were hoping for growth. The kiwi traded at 82.60 US cents at 5pm in Wellington from 83 cents at 8am and little changed from 82.56 cents yesterday. The trade-weighted index was little changed at 78.18 from 78.14. Australia’s trade …

Shell New Zealand and its joint venture partners OMV New Zealand and Mitsui E&P Australia are to drill an exploration well in the Great South Basin, off the South Island’s southeast coast, in a move the energy industry hopes will create ‘the next Taranaki.’ Shell, the operating partner, may begin drilling in 2016. The partners have an interest in two …

Wynyard Group shares climbed to a record after the intelligence software developer announced its latest contract win in the Middle East. The stock rose as high as $1.38 and recently traded at $1.36, up 14 percent on the day. It’s rated a ‘hold’ by two analyst recommendations compiled by Reuters, with a median target price of $1.40. United Arab Emirates …