The overland monorail tunnel project to take tourists to Milford Sound is more likely to proceed now that the main opposition, the proposed Milford Dart tunnel option, has been declined by Conservation Minister Nick Smith, says the $175 million alternative’s backer. “The tunnel would be competition,” said Bob Robertson, chairman of Infinity Investment Group, which is backing the above ground …

New Zealand shares rose, led Pumpkin Patch as the retailer clawed back a small portion of this year’s 34 percent slide, while Diligent Board Member Services rose after telling the NZX yesterday that it knew of no reason for its recent slide. The NZX 50 Index rose 2.425 points, or 0.1 percent, to 4578.97. Within the index, 26 stocks rose, …

Property for Industry shares have gained to the highest in almost six years and the volume of trading is at an eight-year high as investors prepare for the specialist industrial property company’s elevation in the NZX 50 Index after its merger with Direct Property Fund. The merger almost doubled the enlarged group’s shares on issue to 412 million and increased …