Canadian oil and gas producer TAG Oil has gained resource consents to drill two exploratory wells in the first search for oil and gas on the East Coast of the North Island. The company, which has extensive onshore production wells and processing facilities in Taranaki, already faces some public opposition to the East Coast plans, based largely on fears the …

Quadrant Private Equity has completed its sale of 18.6 percent of Summerset Group and the retirement village operator’s shares have been taken off trading halt. The sale of the 40 million shares was managed by UBS New Zealand. It leaves Quadrant with 37.2 percent of the company. Quadrant acquired the 50 percent of Summerset it didn’t already own in 2010 …

The New Zealand dollar edged higher against the greenback after Cyprus delayed a vote on its EU bailout amid talk the proposal may be watered down. The kiwi rose to 82.48 US cents from 82.33 cents at 5pm in Wellington yesterday. The trade-weighted index rose to 75.86 from 75.75. Cypriot ministers are seeking to revise the plan that would impose …