New Zealand’s ultra-fast broadband initiative is threatened by a regulatory process that is “weird” to foreign investors, could ultimately be redundant, and is producing the opposite of the intended effect of splitting Telecom in two, says Chorus chief executive Mark Ratcliffe. Ratcliffe used a speech to a Commerce Commission conference on proposals to regulate prices for unbundled bitstream access to …

Opus International Consultants, the NZX-listed engineering consultancy, has relented on plans to seek approval to make capital contributions to a Middle East joint venture in perpetuity. Chairman Kerry McDonald said Opus will seek approval from minority shareholders for any contributions to a JV with Opus International (M) Bhd (OIMB) that exceed 20 percent of its market capitalisation. The change of …

Burger Fuel Worldwide, the fast food chain franchisor, boosted annual profit 55 percent as sales in the Middle East continued to surge. The company won’t pay a dividend as it builds up cash for investments. Net profit rose to $1.1 million, or 2.05 cents per share, in the 12 months ended March 31, from $708,000, or 1.32 cents, a year …