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The New Zealand dollar held near its recent lows following the euro-zone’s bailout plan for Cyprus that included clipping the island’s bank deposits, stoking concern the same demand could occur in nearby nations and spark a run on banks. The kiwi dollar traded at 82.27 US cents from 82.29 cents at the start of the day and down from 82.72 …

The Government has abandoned controversial plans to impose a tax on employee- paid carparks in Wellington and Auckland after a backlash that rallied opponents ranging from unions to business lobbies. Finance Minister Bill English said today in a statement that while the proposed tax was made as a matter of fairness, the government needed to be pragmatic in a situation …

The New Zealand dollar may fall this week, with the US Federal Reserve’s statement on Thursday and fallout over Cyprus’s bailout likely to trump local economic growth and balance of payments data. The kiwi dollar recently traded at 82.23 US cents, down from 82.72 cents in New York trading on Friday. It may trade in a range of 81 cents …

Dunedin-based bladder cancer detection test inventor Pacific Edge believes it could be turning over $100 million a year in the United States within five years, following the registration of its own diagnostic laboratory in Pennsylvania. The closely held, NZX-listed company announced the registration milestone today, saying its Hershey, Pennsylvania laboratory had received CLIA (Clinical Labour Improvement Amendment) registration, allowing it …

Patchy rains have provided relief for some farming areas and left others without substantive moisture, says Chris Kelly, chief executive of state-owned Landcorp, New Zealand’s biggest farmer. The West of the North Island saw higher rainfall, with 15-40 millimetres from Northland to Waitomo down through to Taranaki. The West Coast, which applied for drought status last week, received 20-40 mm …

NZ Pork, the lobby group for the nation’s pig farmers, has lost its appeal against changes to import health standards that will allow raw meat from countries with Porcine Reproductive and Respiratory Syndrome (PRRS) into New Zealand. The disease, also known as blue-ear pig disease, causes still-born piglets and respiratory illnesses in young pigs. It costs the US swine industry …

New Zealand’s services sector grew at the fastest pace in four months in January, adding to signs that business activity has strengthened in recent months. The BNZ-BusinessNZ Performance of Services Index rose 2.7 points to 55.5 in February, the highest reading since October last year and the high recorded for the month of February since the survey began in 2007. …

Xero, the cloud-based computing company whose shares have more than tripled in the past 12 months, isn’t yet large enough to consider a US listing, says founder and chief executive Rod Drury. The shares dipped from Friday’s record high. “A US listing is certainly something a business with global aspirations would consider,” Drury said in a statement. “We have been …

New Zealanders continue to feel relatively chipper about their economic circumstances, despite the national spread of drought conditions and a string of high profile job cuts, according to the latest Westpac McDermott-Miller confidence survey. However, public servants are less optimistic than private sector workers and a gap is opening between mens’ and womens’ confidence levels, which Westpac senior economist Felix …

Pumpkin patch, the children’s clothing chain, returned to profit in the first half as costs to close underperforming stores in the US and UK a year earlier weren’t repeated. Sales fell on tough trading conditions and inventory disruptions. Profit was $4.7 million in the six months ended Jan. 31, from a loss of about $30 million a year earlier, the …