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The New Zealand dollar was little changed against its trans-Tasman counterpart after the Reserve Bank of Australia kept its key rate at a record low, while saying a weaker currency was desirable to foster balanced economic growth. The kiwi traded at 92.53 Australian cents at 5pm in Wellington from 92.65 cents immediately before the release, and 92.45 cents yesterday. It …

The Reserve Bank of Australia said its currency, near a 4 1/2-year low, remains over-valued and needs to decline further to assist the economy across the Tasman, which is growing at a moderate pace. The central bank kept its cash rate unchanged as expected at a record low 2.5 percent, where it has been since August 2013. Governor Glenn Stevens issued a statement …

Delegat’s Group, the listed winemaker, plans to put a toehold in China next year as part of a long-term goal of boosting overall sales by 52 percent in the next five years. The Auckland-based company set up an in-market sales team in Japan this year and plans to do the same with three to four staff in Shanghai next year to push …

New Zealand shares rose, led by Chorus, after the Commerce Commission lifted the amount the network operator can charge on its regulated copper lines. Spark New Zealand fell on the regulator’s decision. The NZX 50 Index edged up 0.413 points, or 0.01 percent, to 5430.035. Within the index, 24 stocks rose, 19 fell and seven were unchanged. Turnover was $146 million. In a draft determination issued this …

Nikko Asset Management New Zealand, the local subsidiary of the Japanese investment firm, said funds under management topped $4 billion for the first time as the country’s relatively high yields on offer in a low-interest-rate world attracted foreign investors. The local fund manager has increased its assets under management by 14 percent in the past 12 months, aided by the lure of …

Enprise Group, the accounting software reseller which debuted on the NZAX yesterday, narrowed its first-half loss as its Australian unit turned to a profit and it reduced costs. The Auckland-based company’s loss narrowed to $79,000 in the six months ended Sept. 30, from $110,000 in the same period a year earlier, it said. Sales slipped 3.1 percent to $3.4 million, while …

New Zealand commodity prices declined for the ninth consecutive month in November, to the lowest level since February last year, as milk powder prices fell to five-year lows. The ANZ Commodity Price Index dropped 1.6 percent to 286.3 last month, 12.4 percent lower than its reading the same month a year ago and the lowest for a November month since 2012. Skim …

New Zealand tractor sales hit their highest level in a decade in the third quarter as farmers benefiting from this year’s record milk payout and the high local currency bought new equipment. Tractor registrations rose 8.8 percent to 925 in the three months through September, from the same quarter a year earlier, according to Land Transport Safety Authority figures published by Statistics …

Spark New Zealand, formerly Telecom Corp, is reviewing its prices, saying today’s Commerce Commission draft decision on wholesale copper line pricing threatens to push up the telecommunications company’s costs. The shares fell. Auckland-based Spark anticipates input costs will rise by an annual $60 million as a result of Telecommunications Commissioner Stephen Gale’s proposal to raise the monthly total charge allowable for the unbundled …

Shares of Chorus, the regulated telecommunications network operator, jumped as much as 17 percent after the Commerce Commission lifted the prices it can charge for access to the traditional copper lines network for broadband internet services. The shares rose as high as $2.50, the highest the shares have traded since October last year, when the antitrust regulator priced its copper …