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The New Zealand dollar extended gains through the local session after Australian growth renewed investors’ interest in the trans-Tasman currencies after rising dairy prices and strong US equity markets sparked off an earlier rally. The kiwi rose to 83.28 US cents at 5pm in Wellington from 83.18 cents at 8.30am and 82.92 cents yesterday. The trade-weighted index advanced to 76.32 …

Veteran corporate raider Sir Ron Brierley cashed in more Guinness Peat Group shares as the investment firm he helped found draws closer to next incarnation, while at the same time chairman Rob Campbell, who’s leading the transformation, built up his stake. On March 4, Sir Ron sold 5 million shares at 48.5 Australian cents apiece, totalling some A$2.43 million, or …

Fresh from its big win in the Court of Appeal on the use of Optional Convertible Notes to avoid corporate tax, the Inland Revenue Department is warning individual taxpayers who have reduced their tax through income diversion schemes to come forward by March 31. By making a voluntary disclosure and reordering their tax liabilities within the concession period, taxpayers will …

Thank you for welcoming me here today. This is my first visit to Colombia, and the first visit of a New Zealand Prime Minister to this country. Today also happens to be an anniversary for Colombia and New Zealand. On March 6th, 1979, New Zealand accredited its first ambassador to Colombia, formally establishing diplomatic relations between our two countries. So …

Fulton Hogan, the privately-held construction firm, says it has ironed out the problems associated with its Pacific Highway project in New South Wales and has recorded a strong first-half result, without disclosing what it is. The Christchurch-based company resolved contractual matters on the rain-delayed Pacific Highway project, which was seen as one of the major causes behind its 90 percent …

Snakk Media, the latest brainchild of Hyperfactory co-founder Derek Handley, almost doubled its share price upon listing on the stock exchange’s small-cap NZAX bourse, and signalled plans for a share purchase plan in the second quarter. The stock traded at 12 cents, almost twice the 6.5 cents it listed at, in a compliance listing on the market, meaning no funds …

New Zealand’s building work grew for a fifth quarter in the final three months of 2012, though the pace of residential construction growth slowed in the period. The volume of all building work grew a seasonally adjusted 1.8 percent in the three months ended Dec. 31, slowing from a 9.8 percent pace of expansion in the September period, according to …

The value of cash market trading on New Zealand’s stock exchange jumped 58 percent in February from the same month a year earlier as low interest rates keep investors looking for better returns. Total trades increased 4.8 percent to 81,624 last month from February 2011 with the total value traded at $3.5 billion, according to the NZX’s monthly metrics. Average …

The death of Venezuelan President Hugo Chavez had the Prime Minister’s staff burning the midnight oil at a humid hotel on the Colombian coast to recalibrate the Chilean part of his four country Latin American swing to accommodate the wish of Chilean President Sebastian Pinera to attend Chavez’s state funeral. The state funeral is due to take place in Caracas …

Primary Industries Minister Nathan Guy has extended the official drought areas across the North Island, meaning government support programmes can be rolled out to those areas. A state of drought has been officially declared in South Auckland, Waikato, Bay of Plenty and Hawkes Bay, Guy said in a statement. That covers Auckland Council area south of the Harbour Bridge, all …