The New Zealand dollar fell against the euro after the Cypriot government stitched together a lifeline from the European Union and International Monetary Fund to keep the Mediterranean nation from defaulting and forcing the first euro-exit. The kiwi fell to 64.05 euro cents at 5pm in Wellington from 64.22 cents on Friday in New York. The local currency traded at …

Synlait Farms, the Canterbury dairy farmer whose owners tried unsuccessfully to raise funds for its milk processing associate in a 2009 IPO, is to have its stock quoted on the Unlisted platform starting tomorrow. The company runs 12,970 cows on 13 farms in Canterbury. The listing is to “provide options to enhance liquidity to shareholders,” founder Juliet Maclean said. “Synlait …

China Construction Bank, the world’s second biggest lender by market value, has got board approval to set up a subsidiary in New Zealand. The bank’s board, which counts former Prime Minister Dame Jenny Shipley among its directors, unanimously approved a proposal to set up a subsidiary in Auckland, with a capital injection of US$50 million. The resolution was one of …