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New Zealand recorded a trade deficit in January, reflecting a larger-than-expected decline in exports led by dairy products, while imports rose. The deficit was $305 million last month, for an annual trade gap of $1.3 billion, according to Statistics New Zealand. That compares to the forecast in a Reuters survey of a $100 million surplus. Exports fell to $3.35 billion …

The government is backing the New Zealand Venture Investment Fund with a further $60 million as part of its efforts to encourage more private investment. The latest injection follows a previous $40 million underwrite and is on top of the $160 million the government has already allocated to the venture capital programme. “The underwrite facility is a contingent liability rather …

A2 Corp, which markets milk products with a protein variant claimed to have health benefits, reported an 82 percent slide in first-half profit as the cost of setting up its UK joint venture eroded the bottom line. The shares gained 3.9 percent as it affirmed its annual earnings forecast. Net profit dropped to $243,000, or 0.09 cents per share, in …

Guinness Peat Group expects to rebrand itself as UK threadmaker Coats, its biggest asset, in the second half of 2013, having slipped into the red last year on a fine handed down by the European Court. The London-headquartered firm made a loss of 3 million pounds in the 12 months ended Dec. 31, compared to a profit of 1 million …

Energy efficient lightbulb innovator and marketer Energy Mad has issued the latest in a string of downgrades since its listing in late 2011 and is now projecting a loss of $1.1 million for the year to March 31. That compares with a $4 million forecast profit in its 2011 prospectus and a revision just two months ago to expect a …

PGG Wrightson, the rural services company controlled by Singapore-based Agria, listed first-half profit by 55 percent on earning s growth from retail and Ag services, allowing it to declare a 2.2 cents a share interim dividend. Profit rose to $4.8 million in the six months ended Dec. 31, from $3.1 million a year earlier, the company said in a statement. …

Fonterra Cooperative Group, the world’s biggest dairy exporter, has held its forecast farmgate payment on expectations of higher global prices in the second half of the season, and wants to grow its winter milk supply, meaning a tinkering with the capital structure. Farmers are still expected to be paid $5.50 per kilogram of milk solids, with forecast earnings per share …

The New Zealand dollar fell below 83 US cents and breached a key technical support level on fears the inconclusive Italian election could herald a return to populist, anti-EU policy, which could spread to other indebted nations in the region. The New Zealand dollar fell to 82.58 US cents from 83.39 cents at 5pm in Wellington yesterday. The currency broke …

US Federal Reserve chief Ben Bernanke and the latest economic data provided the right mix for investors – further stimulus to underpin an accelerating recovery. Reports on US consumer confidence and the housing market were better than anticipated. The Conference Board’s consumer sentiment index rose to 69.6 this month, from a downwardly revised 58.4 in January, while new home sales …

Hawaiian Airlines  are increasing the number of flights from three to four per week during the peak period of September 19 to October 11.that due to strong demand for their impending service connecting Auckland and Honolulu. The Auckland to Honolulu service, which is scheduled to commence on March 13, will provide an extra four flights to the schedule during school …