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NZ services sector activity slips in November, remains elevated
Dec. 16 (BusinessDesk) – New Zealand services sector activity slipped from a six-year high in November, while remaining at an elevated level, adding to other recent evidence that momentum in the economy is picking up pace. The BNZ-BusinessNZ Performance of Services Index (PSI)...
Argosy sells under-performing Ellerslie property at just below book value
Dec. 16 (BusinessDesk) - Argosy Property, the fourth-biggest listed property investor by market value, has sold an underperforming office building in Auckland’s Ellerslie for $10.4 million. The sale was at 92 percent of book value and is part of Argosy’s plan to ditch underper...
Commonwealth Bank to sell down Kiwi Income stake after ceding management contract
Dec. 16 (BusinessDesk) - Commonwealth Bank of Australia, the biggest lender by market value across the Tasman, plans to sell down its 8.6 percent stake in Kiwi Income Property Trust after ceding the management contract for $70.5 million. The Australian bank has hired Goldman S...
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