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World Week Ahead New heights, Cyprus deal

The rally that has propelled the Standard & Poor’s 500 Index 9.2 percent higher so far this year may finally-this week-bring the benchmark index to a fresh record. The index is now about 10 points shy of its all-time high of 1,565.15 and it could get the boost it needs as traders position their holdings for the end of the …

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Chileans quick to capitalize on John Key’s Latin American tour

Chilean Economy, Development and Tourism Minister Pablo Longueira is visiting New Zealand this week to carry out discussions on education, Māori economic development and tourism. Minister Longueira, who was invited to visit New Zealand by Prime Minister John Key during his recent Latin America trip, arrived today for a four-day visit. He is accompanied by a 21-strong delegation including the …

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World Week Ahead New heights, Cyprus deal

The rally that has propelled the Standard & Poor’s 500 Index 9.2 percent higher so far this year may finally-this week-bring the benchmark index to a fresh record. The index is now about 10 points shy of its all-time high of 1,565.15 and it could get the boost it needs as traders position their holdings for the end of the …

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Pyne Gould offloads bulk of Perpetual business to van Eyk Research

Pyne Gould Corp, the South Island asset management firm controlled by George Kerr, has sold the bulk of its Perpetual businesses to Australian research and management group van Eyk Research. The Christchurch-based group has sold Perpetual Asset Management and Perpetual Portfolio Management, though hasn’t included Perpetual Trust as previously indicated. The sale was flagged in January, and would see Pyne …

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MARKET CLOSE NZ shares mixed in post-results hiatus; Mainfreight down, AIA up

New Zealand shares were mixed in the post-earnings, ex-dividend hiatus. Mainfreight extended its decline after saying earnings would miss estimates and Auckland International Airport rose after reporting monthly passenger growth. The NZX 50 Index edged up 0.38 points, or 0.01 percent, to 4342.88. Within the index, 23 stocks fell, 16 rose and 11 were unchanged. Turnover was $114 million. Mainfreight, …

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Reserve Bank seeks tougher powers on payment systems

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 …

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