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MARKET CLOSE NZ shares drop on Cyprus uncertainty, Pumpkin Patch result
March 18 (BusinessDesk) – New Zealand shares fell as risk appetite worldwide was rattled by events in Cyprus and after retailer Pumpkin Patch said inventory disruptions and tough trading hurt sales in its first half. The NZX 50 Index fell 46.031 points, or 1.1 percent, to 4341....

NZ dollar holds near recent lows as Cyprus fears sap risk appetite
March 18 (BusinessDesk) – The New Zealand dollar held near its recent lows following the euro-zone’s bailout plan for Cyprus that included clipping the island’s bank deposits, stoking concern the same demand could occur in nearby nations and spark a run on banks. The kiwi dolla...

Government backs down on car park tax
By Kristen Paterson The Government has abandoned controversial plans to impose a tax on employee- paid carparks in Wellington and Auckland after a backlash that rallied opponents ranging from unions to business lobbies. Finance Minister Bill English said today in a statement t...