The Prime Minister of New Zealand, John Key has said that the government is planning to introduce a land tax on offshore owners of homes in the country.

An overwhelming majority of the residents of New Zeeland still are favourable towards international tourism indicating that it promotes economic growth but the proportion of those feeling that international visitors arriving in New Zealand are putting too much pressure on the country, has grown.

Industry experts have said that the production of New Zealand wine grapes is expected to be much higher than in 2015.

Albert Brantley, the former Chief Executive Officer of Genesis Energy, has been appointed as the head of Christchurch rebuild agency Otakaro Limited.

According to the latest data released, the New Zealand dollar rose above 70 US cents for the first time in around ten months amid speculation that the Federal Reserve might not raise interest rates and the Reserve Bank will not reduce its benchmark rate.

The New Zealand dollar rose to as high as 70.02 US cents and traded at 69.97 cents this evening in on from 69.21 cents yesterday. The trade-weighted index reached 73.50, which is the level recorded on 26 February, compared to 73.06 yesterday.

The Real Estate Institute of New Zealand has said that farm sales have declined by around 10 per cent so far this year compared to the same period of the previous year.