Category: Business

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New Zealand Government refuses NGO calls to back end to secret WCPFC Compliance Processes

Source: Press Release Service – Press Release/Statement:

Headline: New Zealand Government refuses NGO calls to back end to secret WCPFC Compliance Processes

The New Zealand Government has officially responded to a letter from NGO Accountability.Fish demanding the participation of observers in the Western and Central Pacific Fisheries Commission (WCPFC) compliance processes and to end the practice of conducting key meetings behind closed doors.

The post New Zealand Government refuses NGO calls to back end to secret WCPFC Compliance Processes first appeared on PR.co.nz.

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International eyes on Cook Strait Ferry fiasco

Source: Maritime Union of New Zealand

The International Transport Workers’ Federation (ITF) Ferry Taskforce is backing the call for the new Interislander ferries to be publicly-owned and rail-enabled.

ITF Ferry Taskforce Chair Ronny Øksnes is in New Zealand to attend the Maritime Union of New Zealand national conference in Wellington.

Mr Øksnes says any decision to privatise the service or take rail from the Cook Strait would endanger Aotearoa’s economic and climate future. 

“We have seen the impact of privatisation of this kind of lifeline service elsewhere in the world and it has inevitably come at great cost to freight customers and to the public.

“Just as significant is the threat that this would pose to rail in Aotearoa New Zealand. Rail produces 70% fewer emissions than road freight and losing that would make it harder to meet international climate obligations.

“There’s also the added cost and risk to any export company that uses rail as part of its domestic supply chain, as the total carbon content of imported goods is becoming more and more important to international consumers.

“The rest of the world is taking carbon out of their supply chains, so putting more in would be a backward step for Aotearoa New Zealand’s exporters.

ITF Maritime Policy Adviser Sadie Saunders, also in New Zealand this week, says “We understand the New Zealand government is concerned about cost, however transport infrastructure is a long term investment that ensures good jobs and efficient supply chains. These are projects that should be measured across decades and in the context of the whole economy.

“This is why we are supporting our Aotearoa New Zealand affiliate members’ calls for new ferries to be publicly owned and rail enabled.”

The International Transport Workers’ Federation (ITF) is a democratic, affiliate-led federation recognised as the world’s leading transport authority. It represents, and is democratically guided by, 16.5 million transport workers internationally.

 

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SINGAPORE AIRLINES’ KRISFLYER SPREADS ITS WINGS IN NEW ZEALAND WITH BNZ REWARDS

Source: BNZ statements

Singapore Airlines (SIA) and Bank of New Zealand (BNZ) have forged a new agreement, announcing BNZ’s Rewards as the inaugural banking partner for the airline’s KrisFlyer loyalty programme in New Zealand.

For the first time, BNZ Advantage Visa credit cardholders can transfer BNZ Points earned from their everyday purchases into KrisFlyer miles, to redeem for flights, KrisShop purchases, Kris+ everyday spend in Singapore and Australia, and exclusive travel experiences.

Key highlights include:

  • Direct transfer of BNZ Points into KrisFlyer miles through the BNZ Rewards portal
  • A conversion rate of 300 BNZ points to 50 SIA KrisFlyer miles
  • Utilisation of a combination of miles and cash for flight bookings
  • Option to use miles for in-flight purchases on KrisShop, offering a wide range of products from jewellery to airline exclusives, fashion, health and wellness items
  • New and existing members can link their KrisFlyer membership for mile transfers through the BNZ Rewards portal.

George Robertson, General Manager New Zealand for Singapore Airlines, said this marks a significant milestone in building out the KrisFlyer loyalty programme partner network to enhance value for eligible travellers across New Zealand.

“We are delighted to join forces with BNZ, welcoming them as our inaugural banking KrisFlyer transfer partner in New Zealand. The launch reflects our continuous efforts to enhance value and deliver superior benefits for our KrisFlyer members.

“Bringing the SIA and BNZ Rewards programmes together reflects our mutual commitment to create more rewarding experiences for our shared customer base. We look forward to continuing to enhance the programme’s value for our KrisFlyer members in the years ahead.”

Ross Jackson, General Manager Payments and Merchant Services for BNZ, also voiced his excitement about this latest addition to BNZ Rewards for customers.

“Our customers have been clear that they enjoy BNZ Reward’s wide-ranging travel options, so we are delighted to be the only New Zealand bank to offer direct transfer of BNZ reward points to KrisFlyer miles.”

The post SINGAPORE AIRLINES’ KRISFLYER SPREADS ITS WINGS IN NEW ZEALAND WITH BNZ REWARDS appeared first on BNZ Debrief.

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Sistema proposes sacking over 100 workers – E tū

Source: Etu Union

Workers at Sistema’s Auckland plant are gutted to learn the company intends to cut their 407-strong workforce to 305, meaning 102 people will lose their jobs.

The plastics manufacturer, which produces popular plastic storage products for both domestic and international markets, says the proposal is the result of declining sales and increasing costs.

Ma Roberts, a Sistema worker and E tū Industry Convenor for Manufacturing and Food, says the news is hard to take.

“We’ve known about this possibility for a while, but for many it still seems like a real surprise,” Ma says.

“Work has been slowing down since last year, and we know the production costs have risen for the company. But people rely on this work to get by, and for many workers this job is the best opportunity they have.”

Ma says the workforce is experiencing a sense of dread about the future.

“Many workers have English as a second language and are worried they could have trouble finding new work. We have older workers too, who could struggle. There is a lot of fear around what is to come.

“It is especially hard this close to Christmas, which is a stressful and expensive time for many people. Employees have seen that work has been quiet for a long time now, so it’s a disappointment that this is being brought up right before Christmas when families are under pressure.

“The company has offered voluntary redundancy which is good, but we will need a fair and transparent process to figure out who gets to keep their job, and those who don’t will need as much support from the company as possible.”

E tū Director Georgie Dansey says she understands the position the company is in, but stresses that the company can do a lot to help support the workers who will lose their jobs.

“As we begin consultation around this proposal, the immediate and longer-term interests of affected workers must be front and centre,” Georgie says.

“There are promising early signs that E tū can work with the company to support the workers. For example, they are offering a paid four-week notice period without a requirement to work, and an extra four weeks’ pay after that. This will certainly help people who have lost their jobs to get back on their feet.

“However, we know there is a lot more companies can do in this situation. We’d like to see support for training and skills development, for example help with developing numeracy and literacy to give workers a better shot in the job market.

“This is what a Just Transition is all about – ensuring the effects of industry pressures do not fall unfairly on the shoulders of the people doing the work.”

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Indian Muneem Inaugurates Its New Office Branch In New Zealand

Source: Press Release Service – Press Release/Statement:

Headline: Indian Muneem Inaugurates Its New Office Branch In New Zealand

Indian Muneem is proud to announce the launch of our new office branch in New Zealand, cementing our place as one of the premier accounting and bookkeeping firms across the globe.

The post Indian Muneem Inaugurates Its New Office Branch In New Zealand first appeared on PR.co.nz.

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DEC Construction Expands Operations to Mangawhai to Address Growing Regional Demand

Source: Press Release Service – Press Release/Statement:

Headline: DEC Construction Expands Operations to Mangawhai to Address Growing Regional Demand

DEC Construction has announced an expansion into Mangawhai, aiming to meet rising demand for skilled building services in the area. Known for its work in Warkworth and surrounding regions, the company’s move is expected to support Mangawhai’s growth.

The post DEC Construction Expands Operations to Mangawhai to Address Growing Regional Demand first appeared on PR.co.nz.

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Rebecca Campbell: Mapping out a career in geoinformatics (SLFM)

Source: Plant and Food New Zealand – Press Release/Statement:

Headline: Rebecca Campbell: Mapping out a career in geoinformatics (SLFM)

Geoinformatics is the analysis of spatial data using technology to understand and solve real-world problems.
Scientist and Scigest podcast host Dion Mundy speaks to fellow Scientist Rebecca Campbell about her journey into geoinformatics and her expertise in analysing spatial aspects of data. Rebecca also talks about her experience as a recipient of the prestigious MBIE Science Whitinga Fellowship and the benefits that this Fellowship has provided her in her career so far. To view our full catalogue of podcasts including extra links on some podcasts please go to our Scigest pages: www.plantandfood.com/scigest

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Solid result as more New Zealanders choose to bank with BNZ

Source: BNZ statements

Bank of New Zealand (BNZ) today announced a statutory net profit of $1,506 million for the 12 months to 30 September 2024, down $3 million or 0.2% which is broadly flat on the prior financial year.

This was driven by lending and deposit growth partially offset by lower net interest margins, higher operating expenses and includes the impact of the sale of BNZ’s wealth business.

BNZ CEO Dan Huggins says this is a solid result in challenging conditions, which reflects BNZ’s continued growth as more New Zealanders choose to bank with BNZ.

BNZ’s total lending increased $4.3 billion or 4.2%, with business lending up $2.0 billion or 4.6% and home lending up $2.4 billion or 4.1%. Total customer deposits increased by $3.8 billion or 4.8%.

Mr Huggins says BNZ continues to support its customers through one of the most difficult economic cycles in recent history.

“With inflation back within the Reserve Bank’s target band and as interest rates begin to fall, this will be welcome news for many households and businesses.

“However, there is always a lag between changes in monetary policy and its impact on the economy, and it will take some time for the benefits to flow through. For customers feeling under pressure our message is get in touch,” says Mr Huggins.

Backing business

Mr Huggins says businesses will be crucial to driving the economic growth that will help power the recovery.

In the 12 months to 30 September 2024, BNZ was the largest lender to New Zealand’s productive sector, with almost half of New Zealand’s total business and agri lending growth coming from BNZ.

“As New Zealand’s largest business bank, we’re proud that we have backed our business customers through the economic cycle with an understanding that while times are tough now, there will be opportunities for growth ahead,” he says.

Supporting home ownership ambitions for all New Zealanders

Mr Huggins says in addition to supporting businesses, BNZ has continued to back customers’ ambitions to buy their first or next home.

“Over the past 12 months, more than 6,500 New Zealanders have chosen BNZ to help them into property ownership, with first home buyers representing around half of that figure,” he says.

“For our existing home loan customers, we have been focused on helping them manage in the current higher interest rate environment.

“Customers are paying close attention to interest rates, and we’ve seen a significant shift towards shorter fixed term loans. Over 70% of our home loan customers are due to roll off their fixed term loans within the next 12 months.”

BNZ has also focused on unlocking home ownership on Māori land. This year BNZ launched and then expanded its innovative funding model which enables iwi, as well as individuals and whānau in Māori land trusts and incorporations, to secure home loans for housing on Māori land at standard home loan interest rates.

“We’re proud that we’ve managed to develop a solution that can not only enable home ownership on whenua Māori, but also acknowledges and protects the deep connection Māori have with their whenua,” says Mr Huggins.

Investing in open banking

With more than 250,000 customers already benefitting from BNZ’s API technology, BNZ has reinforced its market leading position in open banking. This year, BNZ was the first New Zealand bank to deliver on all industry API milestones required to enable open banking in New Zealand, having led the industry to meet each new open banking standard over multiple years.

BNZ recently announced it is backing Payap, an easy-to-use digital wallet and point of sale/e-commerce app powered by open banking and developed by Centrapay. This new way to pay and be paid, has the potential to revolutionise how New Zealanders manage their money and handle payments.

BNZ also announced it has joined forces with leading New Zealand fintech BlinkPay. BlinkPay offers seamless, cost-effective payment services which save customers time and money. BNZ’s investment will help accelerate BlinkPay’s development of new products and services powered by open banking to improve outcomes for consumers across Aotearoa New Zealand.

“These initiatives support industry competition and demonstrate BNZ’s significant investment and commitment to accelerating open banking as we continually strive to make banking simpler and easier for all of our customers,” says Mr Huggins.

An unaudited summary of financial information for the 12 months ended 30 September 2024 follows:

Bank of New Zealand Banking Group

The post Solid result as more New Zealanders choose to bank with BNZ appeared first on BNZ Debrief.

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Unemployment rising shows the need for a plan

Source: Council of Trade Unions – CTU

New labour market data released by Statistics New Zealand today shows a weak labour market and the need for a plan to deliver positive change, said NZCTU Economist Craig Renney.

“Unemployment rose to 4.8% – which is the highest rate it has been since COVID-19.  There are 29,000 more people unemployed since this government took office. Yet there is no plan to help workers – that needs to change,” said Renney.

“It’s clear that some communities are increasingly being left behind. Unemployment for young people is now a real concern, with 20% of 15–19-year-olds unemployed and 8.4% of all 20–24-year-olds unemployed. Māori unemployment is 9.2% and Pacific Peoples unemployment is 9.9%. Unemployment in in Auckland is now 5.2%.

“Wages are also reflecting the softer labour market, with 37% of all workers seeing no pay rise, and 50% of workers seeing an annual pay rise less than the 3.8% increase in household costs reported yesterday. With the minimum wage rising by less than inflation this year, its low-income workers who are bearing the brunt of this Government’s policies.

“This was the first time in 37 quarters that the number of people employed in New Zealand fell. A million fewer hours were worked this year. 367,000 people want more work but can’t currently get it. The numbers unemployed for more than 6 months is at its highest level since 1992.

“The headline rate of unemployment didn’t hit 5%, but the underlying data shows that the labour market is as weak as people fear. There have been significant layoffs at sites across New Zealand which won’t have registered yet in this data.

“The Government’s only plan appears to be welfare sanctions which will only increase hardship for unemployed workers. Workers deserve to know what this government is going to do ensure everyone has access to good, sustainable work,” said Renney.

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BNZ and BlinkPay to accelerate open banking in New Zealand

Source: BNZ statements

BNZ today announced it has joined forces with leading New Zealand open banking fintech BlinkPay.

The investment will enable BlinkPay to accelerate and scale its innovation and product development through access to BNZ’s resources and expertise.

With BNZ as BlinkPay’s new owner, co-founder Adrian Smith becomes the fintech’s CEO, ensuring BlinkPay retains its own leadership and decision-making, along with its entrepreneurial spirit and startup culture.

“As a Māori-led business, we bring unique perspective to financial innovation. BNZ understands and values this – and they’re backing our vision while enabling us to retain our startup DNA,” Smith says.

“Our kaupapa has always been about making financial services work better for all New Zealanders. BNZ’s support gives us the resources to accelerate our mission and help grow the open banking ecosystem across Aotearoa.”

BNZ CEO Dan Huggins says the investment builds on BNZ’s established leadership in open banking.

“BNZ has been at the forefront of open banking in New Zealand since 2018, with more than 250,000 customers already benefiting from innovative financial services enabled by BNZ’s open banking technology.

“This represents the next phase in our journey. With BNZ supporting BlinkPay’s innovation and agility, we can accelerate the development of new products and services that will benefit all New Zealanders.

“We’re proud to be investing in a team that has proven their ability to innovate and deliver.”The partnership will focus on developing new open banking capabilities that improve financial outcomes for consumers and businesses across Aotearoa New Zealand.

The post BNZ and BlinkPay to accelerate open banking in New Zealand appeared first on BNZ Debrief.