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Some $18 billion of new residential housing in Canterbury, accounting for almost half the region’s rebuild, will be the key driver behind New Zealand’s 2.5 percent annual rate of growth over the next four years. The Treasury sees gross domestic product growth of 2.5 percent in the year ended March 31, slipping to 2.4 percent in 2014 before rising to …

Compared to the last four budgets, this year’s reflects an economy moving out of recession and into calmer waters. The global financial crisis is still a risk, but we’re not in the maelstrom anymore. For now, at least. Yet if the fastest annual growth rate we can expect over the next two years is 3 percent – – with the …

Senior executives of newly listed, state-controlled MightyRiverPower are in line for shares in lieu of cash bonuses worth $1.2 million for the year to June 30, one of the company’s first disclosures to the NZX and ASX as a listed company show. Some $418,750 of that total will be owed to chief executive Doug Heffernan, assuming bonus benchmarks are met. …

Ryman Healthcare, the retirement village operator whose shares have jumped by more than a third this year, boosted annual profit 13 percent as increased sales of units lifted its fee income and as the value of its property portfolio continued to climb. Net profit rose to $136.7 million, or 27.5 cents per share, in the 12 months ended March 31, …

The New Zealand dollar strengthened against major currencies as investors take advantage of a dip in the kiwi to buy ahead of the government budget today. The kiwi rose to 82.36 US cents from 82.13 cents at 5 pm yesterday. The trade-weighted index gained to 77.48 from 77.13 yesterday. New Zealand’s currency has been trading under 82 US cents this …

Telecom, which is aiming to cut its workforce by as much as 16 percent this year, said annual earnings will be at the low end of guidance because of competition in fixed-line sales and a margin squeeze at its Gen-i unit. Adjusted earnings before interest, tax, depreciation and amortisation would be between $1.04 billion and $1.06 billion, the company said …

Momentum helped lift Wall Street to records earlier in the day, even as US and European economic data disappointed some investors about the pace of the recovery. The Dow Jones Industrial Average climbed to a record high of 15,301.34, while the Standard & Poor’s 500 Index hit a record 1,661.49 in morning trading before giving up some of those gains …

With the 2013 Pacific Partnership Forum just days away from opening, new research has been released reinforcing the importance of the United States as a trading partner for New Zealand. The research, commissioned by the NZ US Council was conducted by the New Zealand Institute of Economic Research and analyses the economic and trade relations between the US and NZ. …

New Zealand shares rose, led by Fisher & Paykel Healthcare, as the maker of breathing masks and respirators benefited from a kiwi dollar at a two-month low. NZX rose to a six-year high in anticipation of fees from new listings. The NZX 50 Index edged up 0.5 percent, or 0.01 percent, to 4646.32. Within the index, 25 stocks rose, 20 …

The New Zealand dollar pared its decline during the local session as exporters took advantage of the strengthening greenback to ramp up their hedging with a cheaper entry point. The kiwi increased to 82.13 US cents at 5pm from 81.88 cents at 8am, down from 82.90 cents yesterday. The trade-weighted index fell to 77.13 from 77.46 yesterday. New Zealand’s currency …