Finance Minister Bill English has welcomed the International Monetary Fund’s assessment of the Government’s plan to return to surplus by 2014/15.
In its preliminary concluding statement on New Zealand, published today, the IMF notes the Government’s medium-term deficit reduction plan is aimed at limiting the increase in public debt to guard against future economic risks and [...]

A bill that is critical to restoring investor confidence in New Zealand’s financial markets passed its first reading in Parliament today.
Commerce Minister Craig Foss says the Financial Markets Conduct Bill provides a once-in-a-generation opportunity to make New Zealand’s financial markets more efficient.
The Bill is the result of a comprehensive review of securities law and builds [...]

The Government will deliver Budget 2012 on Thursday, 24 May, Finance Minister Bill English announced today.
“It will focus on implementing the Government’s clear and comprehensive plan to build a more productive and competitive economy,” he says.
Within that plan, the Government has set out its priorities. They are:
• Responsibly managing the Government’s finances.
• Building a more [...]

Lower Government spending has offset lower than expected tax revenue, helping keep the Government’s finances on track in the six months to 31 December 2011, Finance Minister Bill English says.
The Crown accounts show tax revenue was $400 million below forecast and revenue $743 million lower overall. However this was offset by lower core Crown expenses [...]

Direct Capital announced Friday that its investment in Scales Corporation has now been completed following the obtaining of shareholder approval for the transaction.
Through its Direct Capital IV and Pohutukawa II funds, along with co-investment partners, New Zealand Superannuation Fund and ACC, the acquisition of the 79.7% shareholding in Scales was first announced in May 2011 [...]

According to Reuters, Heartland New Zealand Ltd Tuesday increased its capital raising for the acquisition of PGG Wrightson Finance. Heartland increased its capital raising to $58 million, with $35 million to be raised from existing shareholders via a share purchase plan.
The share purchase plan would raise $35 million, Heartland said in announcing further details of [...]

The New Zealand Herald Tuesday reported that manufacturing firm Scott Technology is looking to raise $9.5 million from shareholders to shore up its balance sheet, build stock and pursue new business opportunities, says its boss.
The Dunedin-based company has announced a one-for-four renounceable rights issue open to existing investors. According to the Herald, at $1.20 per [...]

The New Zealand Herald Tuesday reported that Heartland New Zealand, the lender built from the merger of Marac Finance and Canterbury and Southern Cross building societies, is expanding in rural lending with the $100 million bid for PGG Wrightson’s finance unit.
According to the Herald, Heartland Chief executive Jeff Greenslade told the newspaper that the acquisition [...]

The receivers of the South Canterbury Finance Group announced Monday that GE Capital’s New Zealand Equipment Finance business has acquired over NZ$100 million of commercial loan book assets from Face Finance Limited, a subsidiary of South Canterbury Finance Limited.
Face Finance primarily focuses on ‘big ticket’ financing in the transport and infrastructure sectors. It has operated [...]

My ATM Holdings has entered into shareholder agreements through its wholly owned subsidiary MY EFTPOS Limited to acquire 30 per cent of Integrated Payments Limited (IPL) in New Zealand.
Integrated Payments operates an EFTPOS deployment business and is the first deployer in New Zealand to offer terminals that surcharge credit cardholders. New Zealand’s EFTPOS network of [...]