New Zealand

Global dairy crisis simmers as supply overwhelms

The weak global diary market, hit by oversupply and a tail-off in Chinese demand that has driven international milk prices down by around 50 percent, is unlikely to pick up anytime soon, analysts say.

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ANZ names Mark Whelan as new Australia CEO

Australia and New Zealand Banking Group (ANZ.AX) on Monday said Mark Whelan will replace Phillip Chronican as the head of its Australian business.

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Asian shares tripped up by surprisingly bullish Fed

Asian shares retreated on Thursday after the Federal Reserve unexpectedly lifted its view on the economy, signaling that the U.S. central bank remains firmly on track with plans to raise interest rates this year.

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Most governments conceal data despite G20 pledges, study says

Myanmar, Haiti and Mali were ranked the least open and transparent countries in a global index of government data released on Tuesday, which found that most governments do not make official data openly available to the public.

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Japan seeks to sell sub-hunting jet to UK as Abe pushes arms exports

Japan is asking Britain to buy its P-1 submarine-hunting jet in a deal that could top $1 billion, a major step in Prime Minister Shinzo Abe's push to arms exports after decades of self-imposed restrictions, people with knowledge of the proposal said.

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Joint venture: Australia marijuana IPO creates market buzz

Australia's first initial public offering in a medicinal marijuana company is three times oversubscribed, giving high hopes to its founder's ambitions to become "the George Clooney of medicinal cannabis".

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Brazil's JBS says $1.25 billion Primo buy to boost Asian sales

Brazil's JBS SA (JBSS3.SA), the world's largest beef exporter, said on Friday its $1.25 billion purchase of Australian processed foods producer Primo Smallgoods would increase its presence in Asia.

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Middle-earth meets Middle Kingdom in NZ-China TV deal

China and New Zealand are to sign a deal which will make it easier to produce television content in the two countries, enabling the South Pacific island nation to showcase its natural landscape to lure more tourists.

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Singapore's GIC sets up New Zealand real estate JV with Goodman Property

Singaporean sovereign wealth fund GIC Pte Ltd [GIC.UL] is making its first investment in New Zealand real estate by forming a joint venture with Goodman Property Trust (GMT.NZ), the pair said in a statement on Monday.

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GE plans stake sale in two South Korean finance JVs

General Electric Co is planning to divest stakes in its joint venture auto-financing and credit card businesses in South Korea, people familiar with the matter told Reuters, as the U.S. conglomerate continues to trim its exposure to the financial services sector.

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Tajikistan most improved in World Bank business ranks

Tajikistan made the greatest strides in business-friendly reforms in the past year, part of an overall trend of improving business regulations across Eastern Europe and Central Asia, the World Bank said in a report released on Tuesday.

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Yen stumbles as strong US earnings revive risk trades

The yen languished at two-week lows against the dollar early on Friday, having come under renewed pressure overnight after an encouraging rally on Wall Street dampened demand for the safe haven currency.

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Asia stocks hobbled by growth woes, China PMI fails to impress

Asian shares sagged on Thursday after a retreat on Wall Street and falling crude oil prices rekindled investor anxiety over slowing global growth, while a mixed picture on Chinese manufacturing failed to impress markets.

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Dollar surges anew, euro zone data eyed

The dollar rose to new multi-year highs against the yen, euro and a basket of currencies on Monday, a three-month-old rally showing no signs of dissipating before a week of important economic set pieces.

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Euro falls to 22-month low versus dollar on diverging rate outlooks

The euro hit a 22-month low against the dollar on Thursday on the prospect of diverging monetary policy between the Federal Reserve and the European Central Bank as rate differentials swing decisively in the greenback's favor.

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