There's been a victory in the long quest for a Russia free trade deal.

Specialist companies see big opportunities in store with prospects of a Russian trade deal.

When it comes to fish, New Zealand is often held up as an exemplar of what happens when you get things right.

NZ recorded its first annual trade surplus in nearly eight years in the year to April, Statistics NZ says.

The dairy industry will pump $1 billion extra into the economy based on next season's Fonterra milk price forecast, says Westpac bank.

Dairy products helped push the value of exports to more than $4 billion for only the second time on record.

The Reserve Bank has slightly opened its forecast window for the first rate hike by a month or two in this morning's statement.

Fonterra has announced it is increasing its forecast milk price payout by 40 cents, to $6.10 per kg.

Air NZ is bearing the brunt of financial losses caused by the the Iceland volcano disruption, an expert says.

The volcanic ash cloud over Europe has a local oyster farmer worried, while a salmon exporter is seeing a rise in offshore orders.

Export New Zealand will today start counting the cost to local businesses of the huge disruption to flights into and out of Europe.