Dene Mackenzie

The Russian-controlled New Zealand Dairies Ltd is thought to be planning to spend another $100 million on the Studholme factory, installing an anhydrous milk fat plant or a second drier.

Property financier Strategic Finance gave its 20,000 investors some good news yesterday with the announcement of a management buy-out backed by BOS International, a subsidiary of Halifax Bank of Scotland.

Former Telecom chief executive Theresa Gattung has lent her support to an ambitious project to develop New Zealand's strong wool industry into an internationally recognised brand.

Prospects for a rapid recovery from New Zealand's partly self-imposed recession were fading fast, Berl senior economist Ganesh Nana said yesterday.

A new company was launched this morning to create an internationally branded New Zealand wool products.

The Reserve Bank has a policy targets agreement with the Government to keep inflation between 1% and 3%. Inflation is now running at 4% and likely to hit 5% in September. Business Editor Dene Mackenzie wondered whether the central bank should be censured for not doing its job.

New Zealand business will have a new home in Shanghai when New Zealand Trade and Enterprise opens its concept centre in October.

The Reserve Bank will be forced to make some tough decisions in the next few days as it prepares to release its ruling on the official cash rate on July 24.

Fruit and vegetable prices rose 5.2% in June, helping push the food price index up 1.3% for the month.

Jean-Philippe Diel is a victim of his own success. The rugby-loving Frenchman has overseen spectacular growth for Samsung in New Zealand. Dene Mackenzie caught up with Mr Diel in Auckland.