New Zealand shares closed lower on Thursday hauled by Telecom, which declined on media reports that mobile phone rates could be hacked if the Government takes on some new rules.

The NZX-50 Index dropped 0.7%, or 21 points, to 3,045.72.

A UK based services provider Company, Vertex has announced to generate as many as 600 job opportunities in the next two years in Ballarat.

The IT employer has its clientele extending over the US, the UK and India. Currently, it has about 800 professionals working with it.

The service center in Ballarat will commence in September 2010. Premier, John Brumby, said the expansion will enhance the income in the economy with least $15 million of income each year.

Greenstone Energy, which grabbed up the rights of the Shell retail and distribution business in the month of April, is set to create 12 jobs in this nation by moving its call centre back from the Philippines.

Greenstone said that a pact for the call centre was finalized today and the facility would be operating in New Zealand from August 1.

The New Zealand tourism industry is gearing up to face a new threat coming in the form of cash-strapped Governments taking the trouble-free way out by taxing international air travelers.

According to Kiwi Income Property Trust, changes of tax in the Government's budget have abridged the prosperity of investors in listed property trusts, many of whom are retirees. The trust fell 1.1% to 92 cents.

The kiwi might drop further after reports and later Government officials denied and recommended that Spain was approaching a fiscal bailout following the diverse data from the US.

Where many people asserted that now will be the best time to purchase a major household article, the ANZ-Roy Morgan Consumer Confidence poll has revealed that the patron confidence has faced an immediate decline this month.