Govt promise on oil exploration
Govt promise on oil exploration
Companies with existing oil and gas exploration permits will not be hindered in progressing their work programmes, Energy and Resources Minister Megan Woods said yesterday.
Simon Hartley
Plans to mine under Martha pit
Plans to mine under Martha pit
Oceana Gold's Waihi mine in the North Island's Coromandel may get a 10-year life extension boost, with the decision made to tunnel underground below the historic Martha pit.
Oil, gas tender process on hold
Oil, gas tender process on hold
The Government has postponed an announcement on the annual oil and gas exploration tender process Block Offer 2018 for several weeks.
Retirement village sector rising
Retirement village sector rising
More than 300,000 people over 75 years old are now housed in almost 35,000 retirement village units across the country.
PGG-W revenue up for first half
PGG-W revenue up for first half
Rural service company PGG-Wrightson has posted a half-year rise in revenue to $628.1 million, but adverse foreign exchange rates saw a slight decline in half-year profit, down $400,000 to $14.6...
Reserve Bamk springs no surprises with OCR
Reserve Bamk springs no surprises with OCR
As expected, the Reserve Bank left the official cash rate (OCR) at 1.75% yesterday, given the lack of pressure from inflation on the economy.
Broker surprised by poor Fonterra half-year result
Broker surprised by poor Fonterra half-year result
Fonterra has attracted a minor downgrade from brokers after disclosing a $405million asset value writedown against its stake in Chinese infant formula distributor Beingmate this week.
Coal and gas pick up slack in generation
Coal and gas pick up slack in generation
Renewable energy accounted for 82% of the country's electricity generation at the end of last year, but dry weather at the time required a large boost from coal and gas generation to meet demand.
Beingmate writedown behind Fonterra first-half loss
Beingmate writedown behind Fonterra first-half loss
Fonterra has posted a $348million after-tax loss for first-half trading, having reported a $405million writedown in the value of its controversial 18.8% stake in Chinese infant formula distributor...
Port Otago half-year profit up 69%
Port Otago half-year profit up 69%
Port Otago's strong half-year result and profit has been marred by expectations an asbestos shed demolition will cost $2 million to $3 million - coming off its full-year bottomline result.
Synlait's profit drives shares up
Synlait's profit drives shares up
Synlait shares spiked more than 13% yesterday after the milk processor and infant formula exporter posted a record half-year profit of $40.7million.
Fryatt St shed to be demolished
Fryatt St shed to be demolished
Port Otago has confirmed it will demolish the 325m-long asbestos-tainted shed in Fryatt St, Dunedin, at an estimated cost of $2million to $3million.
Kathmandu buys Oboz Footwear; half-year profit up
Kathmandu buys Oboz Footwear; half-year profit up
Leisure and sports retailer Kathmandu has bought a specialist US outdoors company for up to $NZ103.6 million, alongside posting an improved 23% increase in half-year profit, underpinned by Australian sales growth.
Consumer confidence 'perks up'
Consumer confidence 'perks up'
Households in New Zealand and Australia are showing increased optimism, reversing recent declines, according to separate surveys released yesterday.
Flat result forecast for Fonterra
Flat result forecast for Fonterra
Fonterra is picked to deliver a flat half-year result on Wednesday.
Index at lowest for 13 months
Index at lowest for 13 months
Otago and Southland's manufacturing sector remains in contraction and is at its lowest level for 13 months, mirroring a nationwide levelling off of expansion.
Shell to sell NZ assets to Austrian-owned OMV
Shell to sell NZ assets to Austrian-owned OMV
Royal Dutch Shell plans to sell its remaining New Zealand business to Austrian oil and gas giant OMV AG for $US578million ($NZ794million), part of its $US30billion international divestment programme.
Strike action to resume at Lyttelton
Strike action to resume at Lyttelton
Mediation failed yesterday between Lyttelton Port Company and the Rail and Maritime Transport Union, and strike action is set to resume from midnight next Tuesday.
Sale boosts Abano result
Sale boosts Abano result
Australasian dental group Abano Healthcare is set to report a one-off $2.1million gain in its full-year result, after completing the $17million sale of its Auckland-based Ascot Radiology unit to...
Median house prices increase in Otago, flat in Dunedin
Median house prices increase in Otago, flat in Dunedin
Year-on-year median house prices continued to climb across the country, Otago and Southland both bettering the national average gain of 6.9% for February, which rose from $496,000 to $530,000.