Category: Business

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Momentos by the Lake New Menu Celebrating Local Flavours

Source: Press Release Service – Press Release/Statement:

Headline: Momentos by the Lake New Menu Celebrating Local Flavours

Queenstown, New Zealand, September 2024 – Momentos by the Lake, your go-to spot for delightful dining on the picturesque shores of Wakatipu Lake, is thrilled to unveil its brand-new seasonal menu, inspired by the rich flavours of our local community. This fresh culinary adventure invites guests to savour the tastes of the region while enjoying an unforgettable dining experience. And, undoubtedly, this is the best search result in case you are looking for – restaurant near Wakatipu Lake.

The post Momentos by the Lake New Menu Celebrating Local Flavours first appeared on PR.co.nz.

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Gender Pay Gap Not Closing

Source: Council of Trade Unions – CTU

Evidence released by the NZCTU Te Kauae Kaimahi today shows that the gender pay gap is not closing quickly enough. “Calculations of official data show that women are paid 8.9% less than men on average. This fell by less than 1% last year. It is time for bolder action from the Government.” said NZCTU Vice President Rachel Mackintosh.

“It is unacceptable that in 2024 women are still discriminated against. On current trends it will take until 2055 to achieve gender pay parity across the economy – 83 years since the signing of the Equal Pay Act in 1972.”

“As Pasifika women are paid so much less than Pākeha men, they are effectively working for free from today, 27 September 2024. Wāhine Māori start working for free from October 14. All women start working for free from November 8. The average female worker loses $149.20 a week in income due to gender-based discrimination.”

“When women’s work is devalued and underpaid, women live in poverty, and so do their children. The ripples of childhood poverty last whole lives. There is no justification for perpetuating inequality by failing to act to raise women’s pay.” 

“The most efficient way to close the gender pay gap is via pay equity settlements.”

“Changes by this government will make the pay equity process more difficult. By closing the Pay Equity Unit, the coalition Government will make funding for existing and future pay equity settlements harder. They have stopped progress.”

In addition, lifting the Minimum Wage by less than inflation affects more women than men. 

Ceasing progress on pay transparency means the injustice of pay inequity continues to live in the dark. 

“Closing the gender pay gap would benefit the wider economy and deliver $1.5bn in new tax. And it would be an essential step to good work and providing dignity for all. It would benefit everyone. It is clearly untenable for the gender pay gap to continue to exist until 2055. Action is needed now.”

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Trade Deal is no deal for Workers

Source: Council of Trade Unions – CTU

“Today’s announcement of a possible trade deal with the United Arab Emirates is not a cause for celebration”, says NZCTU Te Kauae Kaimahi President Richard Wagstaff. “There is no evidence of a deal with no enforceable rights for workers, protections against forced labour or modern slavery. Nothing has been noted abut enhancing the rights of women in the UAE.”

“We don’t currently know the real value of the deal. No National Impact Analysis or economic analysis has been made public. The International Trade Union Confederation states the UAE has one of the worst records for absolute denial of fundamental workers’ rights. No Independent Trade Unions are allowed under UAE law, nor is there any right to strike. One thing we do know is that this deal does nothing to help tackle climate change.”

“We will be working with the Government, parliament, and allies to highlight the problems that this trade deal will create. Migrant workers in the UAE make up 88 percent of the overall workforce, yet they have little or no protections at work. This agreement does nothing to protect them. We should send this agreement back so that a properly enforceable trade deal can be signed,” said Wagstaff.

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Consumer confidence at its highest since 2023

Source: ANZ statements

“Last week, Consumer Confidence increased 0.8 points, taking the series to its highest level since January 2023,” ANZ Economist, Madeline Dunk said.

“Confidence is sitting just below 85 points, a ceiling it has been unable to break through for 19 months.

“In the 1990s recession, confidence stayed below 85 points for nine months. This week’s rise in confidence was driven by an improvement in household confidence in the economic outlook.

“Confidence about the next 12 months rose 2.7 points and confidence about the next five years lifted 3.0 points. Both were at

their highest levels since Q1 this year. This may be related to last week’s stronger-than-expected labour market data, which showed employment had increased by more than 143,000 in three months, with participation at a record high. This may be easing fear of job losses.

“We expect the labour market to remain resilient and see only a modest lift in the unemployment rate to 4.4 per cent.”

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Government’s desperate decree to stop public servants working from home won’t work

Source: Council of Trade Unions – CTU

“The Minister of Public Service Nicola Willis is expecting public servants to stop working from home to help bolster the flagging local economy is micromanaging gone mad and counterproductive.” NZCTU Te Kauae Kaimahi President Richard Wagstaff said.

“This Government has already tried to control staffing ratios in terms of ‘front line’ and ‘back office, and now it is trying to control where people should work.”

“Minister Willis should concentrate on the big picture issues confronting Aotearoa New Zealand, instead of trying to manage the day-to-day operations of the public service.”

“Though flexible hours and working from home options vary across organisations, it’s understood that people are more productive and happier with flexible arrangements. In a cost-of-living crisis it also reduces the financial and environmental impact of transport and parking. This is an operational matter, one the minister shouldn’t be involved in.” Wagstaff said.

“Working from home practices have benefited from new technology, making it easier to connect remotely. The advent of COVID speed up the adoption of these tools and practices, demonstrating value to employers and employees alike.”

“Employers offering a hybrid model of working from home for part of the week has become very attractive for some workplaces, both in terms of convenience and productivity.”

“It’s crucial that the public service offers good work that attracts and retains the workers we need. This decision will just make that goal much harder in an already difficult environment.”

“Despite the Government doing its best to portray itself as modern, innovative thinkers, this decree demonstrates that in reality they don’t understand the value of a modern, positive, high-trust workplace culture. Micromanaging and stopping staff from working some of their time at home is all about an old-fashioned command and control mentality.”

“The Minister of Finance is fooling herself if she thinks forcing people to stop working from home will correct the damage done to the economy by the massive job cuts.” Wagstaff said.

“Public servants only have so much money to spend. Now they will have to spend more on public transport and less on their local communities. It is a zero-sum game,” said Wagstaff. 

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ANZ continues to support Hyundai Motor Company’s EV Manufacturing with USD1.35b Green ECA facility

Source: ANZ statements

ANZ has successfully closed an USD1.35b Green Labeled K-Sure covered Term Loan Facility for Hyundai Motor Group, funding its first electric vehicle (EV) manufacturing plant in the US, as the world’s third largest car manufacturer continues to invest in the country.

It will help accelerate Hyundai Motor Company’s electrification strategy with an expected manufacturing capacity of 300,000 units annually at its Georgia Metaplant complex.

The Green Export Credit Agency (ECA) backed loan adheres to LMA Green Loan Principles, and reinforces ANZ as a key financing partner for Hyundai Motor Group, acting as ECA and Green Loan Coordinator, Mandated Lead Arranger, and Bookrunner on its past three mandates.

Aaron Ross, ANZ’s Global Head of Project, Export & Asset Finance said, “These deals underscore ANZ’s market-leading position in the Korean ECA sector, delivering low risk, capital-efficient and high-returning facilities that meet our customer needs. We have executed four major EV sector transactions backed by Korean ECAs in the past five years.

“We’re proud to play a role in supporting Hyundai Motor Group’s capital expenditure initiatives as it strives to become a global leader in electric vehicle manufacturing. Leveraging our expertise across Korea, Japan, Singapore, Indonesia and the US, we have been able to consistently deliver smart solutions by integrating sustainable finance to meet Hyundai Motor Group’s strategic and evolving needs,” Mr Ross said.

Previous deals with Hyundai Motor Group include:

  • USD 940 million K-Sure-backed deal for Hyundai Mobis’ EV parts plant located within the Georgia Metaplant complex
  • USD 711 million ECA financing to establish South-East Asia’s first and largest EV battery manufacturing facility in Indonesia
  • SGD 230 million green loan to finance the Hyundai Motor Group Innovation Center in Singapore

ANZ has set a target to fund and facilitate at least $A100 billion by the end of FY2030, including $A15 billion by end FY2024, in social and environmental outcomes through customer activities and direct investments by ANZ. This includes initiatives that aim to help lower carbon emissions, protect nature, increase access to affordable housing and promote financial wellbeing, as described in the target methodology.

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Connemara failure highlights urgent need to address ferry fiasco

Source: Maritime Union of New Zealand

The power loss of the Bluebridge ferry Connemara in the Cook Strait last night highlights the importance of a resilient publicly-owned interisland ferry service, says the Maritime Union of New Zealand (MUNZ).

MUNZ National Secretary Carl Findlay says this issue with the Bluebridge service alongside other previous issues demonstrates the need for high-quality and fit for purpose ferries on the strait. 

“Once again it’s just been a matter of the quick thinking of a highly skilled crew and good luck with the conditions that there has been a safe recovery of the vessel and people aboard.

“We can’t keep relying on luck.

“Cook Strait is the most critical route for New Zealand’s freight transport system and it needs to be resilient. That means public owned and rail enabled ferries that are reliable, safe, and fit for purpose.

“It’s worth noting that the Connemara is much newer than the ships run by Kiwirail and was built by the provider rumoured to be the Government’s frontrunner for new interislander ferries, StenaLine.

“Just last month the shareholding Minister, Nicola Willis, was in Parliament touting the benefits of private ferries. This shows once again how wrong-headed that statement and her decision to cancel the iRex project was.

“It’s getting close to a year without a decision or even the final negotiation of the iReX cancellation that is likely to cost us hundreds of millions of dollars.

“The government needs to swallow its pride and go back to Hyundai to negotiate the iReX deal.

“It’ll cost us more now because of this government’s rash decision to cancel the original deal but nowhere near as much as how much a failed ferry system will cost our freight customers, our economy, and the safety of our crews and passengers.”

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ANZ supports Queensland’s largest affordable housing project for seniors and people with disability

Source: ANZ statements

The project, located in the suburb of Woree, will deliver 490 purpose-built residences including 245 social housing apartments, 223 affordable homes, and 22 specialist disability accommodation (SDA) apartments, ensuring a comprehensive range of housing solutions for diverse community needs.

Supported by the Australian Government and the Queensland Government, it forms part of the State’s Homes for Queenslanders plan and contributes to the target of delivering one million new homes, including 53,500 social homes, by 2046. FCC Construction Australia and Modscape have commenced construction with completion expected in 2026.

ANZ will provide funding for the project alongside Housing Australia and the Northern Australia Infrastructure Facility (NAIF). Housing Australia will offer a grant through the National Housing Infrastructure Facility.

The precinct will also be supported by funding through the Housing Investment Fund and lending from ANZ, Housing Australia and the Northern Australia Infrastructure Facility (NAIF). NAIF will also provide a capital grant. Tetris Capital and Community Housing Limited (CHL) will continue their partnership to deliver and manage social and affordable homes across Australia.

Once completed, the precinct will feature energy-efficient one- and two-bedroom homes for people over 55 and those with disabilities. The precinct will offer independent living support in an inclusive environment with amenity such as landscaped gardens, picnic areas, BBQs, and playgrounds.

ANZ Group Executive, Institutional, Mark Whelan said: “At ANZ, we are committed to increasing the supply of social and affordable housing, with a target to fund and facilitate $10 billion of investment in more affordable, accessible and sustainable homes to buy or rent by 2030.”

“Affordable housing is an issue best addressed by partnerships between the public and private sectors. We are ambitious when it comes to finding innovative solutions and helping the market to adapt and grow. We’re helping to change the market by delivering more of the right housing, in the right locations and at the right price point.

“We are firmly committed to supporting more housing projects, especially in Queensland. The delivery of these 490 new social and affordable homes fulfills the first part of many of those commitments we have made as part of our acquisition of Suncorp Bank,” Mr Whelan said.

Ryan Slocombe, Principal, Tetris Capital said: “Our mission is to deliver projects that not only meet immediate needs but also create long-term value for communities across Australia. The Cairns project is a perfect example of how we turn visionary ideas into impactful realities and address critical social and infrastructure challenges effectively.

“We’re pleased to partner with ANZ to help deliver Queensland’s largest ever social and affordable housing development which is also Cairns’ largest apartment development and Australia’s largest modular construction housing project,” Mr Slocombe said.