UPDATE: RBNZ's Spencer keeps rates on hold, brings forward timing of rate hikes
(Updates to add detail throughout, comment from economist) By Rebecca Howard Nov. 9 (BusinessDesk) - Acting Reserve Bank governor Grant Spencer kept the official cash rate unchanged at 1.75 percent but brought forward a potential rate hike to June 2019 from September that...
NZ dollar little changed ahead of MPS which has potential to surprise market
By Rebecca Howard Nov. 8 (BusinessDesk) - The New Zealand dollar was little changed ahead of the central bank monetary policy review tomorrow, despite some economists warning the market may be taken by surprise. The kiwi dollar traded at 68.97 US cents as at 5pm, unchange...
Vector plans to sell block of 4.2 mln shares on market
By Rebecca Howard Nov. 8 (BusinessDesk) - Vector is planning to sell 4.2 million of its own shares it currently holds as treasury stock beginning Nov. 9 as part of ongoing capital management. The proceeds of the sale will be initially applied to debt reduction "but will be...
Chitogel inks heads of agreement with big pharma for US launch
By Rebecca Howard Nov. 8 (BusinessDesk) - New Zealand medical science company Chitogel has signed a heads of agreement with a US-based pharmaceutical multinational after getting greenlit by the US Food and Drug Administration for its wound-healing gel. "We just signed the d...
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