Kiwi Income Property Trust, the owner of Auckland’s Sylvia Park Shopping Centre, reported a 15 percent fall in annual earnings due to a drop in rental income and expects to pay a smaller return to investors in 2014. Distributable earnings, the favoured profit measure for property investors which strips out unrealised movements in the value of the portfolio, fell to …

The New Zealand dollar fell after a report that the US Federal Reserve is planning to slow its policy of quantitative easing, increasing the attractiveness of US dollar assets. The kiwi fell to 82.74 US cents from 82.98 cents in late New York trading on Friday. The trade-weighted index fell to 77.45 from 77.56. The US dollar rose against other …

SkyCity Entertainment Group has gained a 27-year extension to its Auckland casino licence and can add 230 slot machines and 40 gaming tables in exchange for meeting the $402 million construction, fit-out and land costs of a new convention centre in the city. The company is gaining concessions with a net present value of $316 million, according to a base …