The New Zealand government posted a smaller operating deficit than forecast in the May budget on a bigger corporate tax take and less spending on the Canterbury earthquake than expected, and is sticking to its target to reach a surplus by the 2015 financial year. The operating balance before gains and losses (obegal) was $4.41 billion in the 12 months …

Port of Tauranga, New Zealand’s largest export port, may increase its dividend payout ratio and make additional capital payments to investors as cash flows return to normal levels after a period of higher spending, according to brokerage Craigs Investment Partners. The port company will probably spend an average $48 million a year over 2012-16 to complete its current expansion and …

Telecom Corp, the country’s biggest telecommunications operator, is looking to latch on to rapidly growing data usage with the launch of its 4G mobile services next month. The Auckland-based company will open its long-term evolution mobile network, as the technology is known, on Nov. 12 to customers in Auckland, Wellington and Christchurch on 4G-capable devices at no entry cost, it …