Augusta Capital, the listed property investor and fund manager said it has bought NZME House in Graham Street in the CBD, Auckland for $115.8 million. It said, it purchased the building from Manson TCLM, a family owned property developer in Auckland. Manson has been into property development in New Zealand for thirty years or more. The deal will be settled on August 15. Augusta Capital plans to bundle the property into a syndication investment.

Shares of software company, Wynyard Group, which is a market leader in making crime fighting software, hit a record low when it lifted its one week long trading halt. The company's shares almost halved.

Wynyard's shares dropped about forty percent following the company's disappointing annual result along with majorly discounted rights issue aimed at raising cash.

The housing market is picking up heat in and around Queenstown. That has squeezed out the price gap between Central Otago and Auckland. For the very first time, the mean asking price for Central Otago homes has crossed $800,000.

An investigation has been initiated by the Malaysia Airlines after it admitted a mess up with its flight plan for Kuala Lumpur-bound flight MH132, which headed in the wrong direction after taking off from Auckland Airport on December 25.

It's time to rejoice for Stephen Town Auckland Council's chief executive as he is getting a really good Christmas present, though not right during the time when he needs to buy his gifts.