The New Zealand dollar is heading for a 1.2 percent weekly gain on a trade-weighted basis after figures showed the economy grew at almost twice the Reserve Bank’s expected pace in the fourth quarter and amid talk Fonterra Cooperative Group may hike its payout next week. The kiwi rose to 76.46 on the trade-weighted index at 5pm in Wellington from …

The Reserve Bank is seeking to strengthen its oversight over payment and settlement systems, and wants to bring the financial markets watchdog on side to help with securities market settlement systems. The central bank is seeking submissions on proposals to bolster its oversight powers and give it the ability to impose penalties and management regimes for failing systems. The bank …

Apple Sales New Zealand, the local unit of the iPad and iPod maker, posted a 38 percent jump in full-year sales to $571 million, though the tax department received a payment amounting to just 0.4 percent of that. Apple’s New Zealand sales topped the half billion dollar mark in 2012 after rising to $414 million in 2011, according to its …