The New Zealand dollar climbed to a new five-year high against its Australian counterpart after Reserve Bank governor Graeme Wheeler signalled steeper interest rate hikes next year to quell looming inflation pressures, underlining the disparity between the two nations’ economies. The kiwi climbed as high as 91.73 Australian cents, and was at 91.63 cents at 5pm in Wellington from 90.62 …

Profitless wind energy firm Windflow Technology is going back to shareholders for another $4 million as it continues to seek sales in the UK and develops a new version of its pioneering two-bladed wind turbine for lower windspeeds in collaboration with US-based General Dynamics. The NZAX-listed company has extended its debt facilities by 4 million pounds sterling to 7.4 million …

Reserve Bank governor Graeme Wheeler has reservations about New Zealand’s increasing concentration of exports into China, which now dominates foreign purchases of local agricultural products. Wheeler told Parliament’s finance and expenditure select committee in Wellington that dairy prices have climbed 50 percent this year, describing it as “a massive increase.” China takes about 25 percent of New Zealand’s dairy exports, …