Shares of Air New Zealand rose 6 cents today to trade at $1.50, ahead of the announcement at the annual general meeting in Auckland that the company is to extend its share buyback scheme for a further year. Air NZ shares closed last night at $1.44, opened at $1.455 and by 11.45am were trading at $1.50. The buyback was announced …

Reserve Bank governor Graeme Wheeler has reiterated that his two biggest challenges are the over-valued currency and the housing market, in the 2013 annual report, which shows the central bank made a dividend payment of $175 million in the latest financial year. “The two most significant challenges facing the bank at present are the overvalued New Zealand dollar and overvalued …

Vital Healthcare Property Trust, New Zealand’s largest listed medical and healthcare property investor, plans to spend A$28 million to redevelop a hospital in Sydney and A$1.9 million to extend a hospital near Newcastle, to meet rising demand for healthcare services. Vital Healthcare plans to add new operating theatres, extend day surgery facilities, add new inpatient wards, convert shared rooms to …