NZX revenue up
NZX said revenue rose 6.7 percent to $16.5 million in the September quarter with all divisions contributing to the growth.
In particular, the stock exchange operator experienced continued strong performance from its capital markets businesses and a busy period for contract development work in the company's market operations business.
NZX said it saw a flurry of Initial Public Offerings at the beginning of the quarter but activity in capital markets in general slowed towards the end of quarter as the markets awaited the outcome of New Zealand's general election.
New capital listed over the period fell 26.7 percent compared with the same quarter last year which included the listing of Z Energy.
Heartland New Zealand credit rating lifted
Heartland New Zealand said Fitch Rating has raised its long-term credit rating on the bank from BBB- to BBB.
Fitch said the upgrade reflects Heartland's falling non-core assets, improving asset quality and stronger earnings.
At the end of June, Heartland's non-core assets were $41 million and the company expects it to drop to $26 million by year's end.
The Fitch upgrade follows a similar rating improvement from Standard & Poor's earlier this year.
NZ backs global tax evasion effort
Revenue minister Todd McClay said New Zealand will support moves towards a global automatic exchange of information aimed at cracking down on tax evasion.
Mr McClay said multinational companies using base erosion and profit shifting measures to avoid tax is a global problem.
To begin with, New Zealand is set to begin exchanging information from 2018 on a voluntary basis with mandatory reporting starting in 2019 to give the financial industry sufficient time to comply.
