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NZ puts 23 oil and gas exploration permits up for tender
By Hannah Lynch June 08 (BusinessDesk) - The Ministry of Economic Development has put 23 exploration blocks, mainly offshore, up for tender in its annual tender round. The government department is looking for companies to explore the onshore and offshore areas from 2013. The bl...
Traders less certain NZ will follow Australia and cut rates; no change seen at next OCR review
By Jonathan Underhill June 08 (BusinessDesk) - Traders have pared their bets that the Reserve Bank of New Zealand will follow Australia in cutting interest rates though global risks, especially Europe, and a tepid local recovery will keep the official cash rate unchanged next we...
Telecom affirms second-half guidance as cost cutting offsets increased rivalry
June 8 (BusinessDesk) – Telecom, the biggest company on the NZX 50 Index, affirmed its second-half guidance, saying cost cutting and lower borrowing costs have helped keep earnings on track even as competitors chased market share. Second-half earnings before interest, tax, depre...
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