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Mortgage applications rose nearly 20 percent in December from a year ago and people are also taking out more personal loans, in what personal credit rating agency Veda says proves the economy is recovering. Veda sees 98 percent of all credit applications and says it sees evidence of a revitalised credit cycle and indicates New Zealanders are increasingly confident about …

Ebos Group is progressing a couple of acquisition opportunities after indicating to shareholders last year that it was looking to follow up the successful purchase of Masterpet. Market observers have identified SVS, New Zealand’s leading full service provider of products to the veterinary industry, as a nice fit. Ebos chief executive Mark Waller told BusinessDesk that Ebos had talked to …

The government is setting up a fund to play a “bridging role” for investments in regional water storage and irrigation projects to facilitate private investment. A yet-to-be-named Crown-owned company will take minority stakes in water projects with a long-term goal of getting out and leaving the projects to the private sector. While the government hopes to “get our money back”, …

It’s Wednesday evening in Shanghai and the theme for the day was undoubtedly the dairy industry. First up was Howard Moore, Managing Director of Taranaki Dairy Technologies, who met with Fran and I for an extended coffee break in the morning. Howard and his business has gained a unique foothold in the market by doing just what Dr. Li talked …

An Auckland foreign exchange trader is facing 15 charges of theft, dishonesty and false statements ina case involving the alleged misappropriation of $837,046 for personal use and mis-statement of clients’ financial positions by some $4 million. The circumstances of the charges, lodged by the Serious Fraud Office in the Auckland District Court, bear similarities to the Financial Markets Authority swoop …

Comvita, which uses produces health products from manuka honey and olive leaves, has bought an 85 hectare organic olive estate with potential to expand its production of olive leaf extracts by 130 percent over the next five years. The price paid for Organic Olives (Aust) by Comvita’s Australian subsidiary is undisclosed. The estate comprises some 7,000 certified organic olive trees, …

The New Zealand dollar is firmer ahead of Australian inflation data and after the Bank of Japan came out with an open-ended stimulus programme. The kiwi was at 84.04 US cents at 8am, up from 83.99 cents at 5pm yesterday. It fell to 74.51 yen, from 75.17 yen at 5.20pm on Tuesday after the Bank of Japan disclosed monetary policy …

Wall Street advanced amid optimism that quarterly corporate earnings will continue to surpass modest expectations. Shares of Freeport McMoRan, Travelers Cos and DuPont received a boost from their results that bettered expectations, rising 5.1 percent, 2.8 percent and 1.8 percent respectively. Johnson & Johnson, however, failed to deliver, and shares were last 0.6 percent lower. So far, 73 percent of …

New Zealand stocks eased slightly until a late rally, in line with cautious sentiment across the Asian region ahead of a crucial Bank of Japan decision to loosen monetary policy, announced just before 5pm local time. The NZX50 Index rose 1.90 points, or 0.45 percent, to 4,187.082. Within the index, 27 stocks rose, 16 fell and seven were unchanged. Turnover …

The New Zealand dollar rose during the local trading day as market-watchers across Asia waited for a crucial Japanese monetary policy decision. That decision came just after 5pm and saw the Bank of Japan announce a doubling in the country’s inflation target to 2 percent and adoption of a US Federal Reserve-style quantitative easing programme of bond-buying. Bloomberg reported the …