PM Edition: Top 10 Business Articles on LiveNews.co.nz for March 24, 2026 – Full Text

MIL OSI

Source: Media Outreach

HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 23 March 2026 – On March 20, 2026, in Ho Chi Minh City, Vincom Retail hosted the event “The New Era – Partnering to Shape the Future”, welcoming more than 500 domestic and international partners. The large-scale forum served as a platform for stakeholders to exchange market perspectives, update on emerging trends, and explore collaboration opportunities as Vietnam’s retail sector enters a new growth cycle.

The event brought together 500 key partners, including leading international retail brands such as UNIQLO, MUJI, Decathlon, Pandora, CGV, AEON Beta Cinema, SuperPark, KOHNAN, Central Retail, WinMart, Starbucks, Dookki, Guardian, and MEDICARE, alongside major domestic brands and chains including ACFC, Maison, Phoenix Group, Golden Gate, Aladdin Group, Takahiro, RuNam, Highlands Coffee, and The New Playground…

At the event, Vincom Retail’s leadership emphasized the rapid transformation of the retail industry, where shopping malls and commercial streets are evolving beyond traditional retail spaces to become lifestyle destinations. These destinations integrate immersive experiences, foster community connections, and lead modern consumption trends. This shift reflects changing consumer behavior, with a growing preference for experience, emotion, and interaction over mere purchasing and ownership.

Setting the direction for future growth, Vincom Retail unveiled its strategic vision toward 2030, focusing on developing world-class destinations. The company aims to position itself as a leading retail real estate developer and operator in Asia, setting benchmarks in trend leadership and customer experience, with a diverse and expansive asset portfolio and an extended international footprint supported by a global ecosystem. This unique platform enables pioneering brands and concepts to converge and co-create breakthrough experiences, many of which are being introduced in Vietnam for the first time, delivering fresh value to consumers while shaping the future of retail and establishing new regional standards.

In terms of product strategy, Vincom Retail is focusing on two core formats. Vincom Mega Mall is positioned as a “Mega Shoppertainment Destination”, a large-scale experiential hub that leads market trends. Meanwhile, Vincom Collection is developed as a “Retail-tainment Destination”, combining shopping and tourism, built around five key pillars: Play – Discover – Shop – Savor – Relax.

A prime example is the “super destination” model integrating Retail – Tourism – Entertainment at Vinhomes Green Paradise Can Gio, featuring 15 next-generation retail complexes. Among them, Vincom Mega Mall Can Gio and Vincom Collection Cosmo Bay are the first projects to be unveiled, promising multi-layered experiences that harmonize with nature and prioritize sustainable operations.

Beyond strategic insights, the forum also featured real-world success stories and forward-looking perspectives from pioneering brands that have helped shape Vietnam’s evolving experiential retail landscape. Mr. Vu Ngoc Thuan, Founder of restaurant chains Longwang, Tianlong, Bo To Quan Moc, and GMaster, shared: “Partnering with platforms like Vincom provides a strong launchpad for brands to accelerate growth, expand further, and professionalize according to international standards.”

Mr. Shin Jae Hyuk, representative of Dookki, also highlighted growth strategies to capture market opportunities: “Together with our trusted partner Vincom, we will continue to create new milestones for Vietnam’s F&B market. Our goal is not only to sell tteokbokki, but to deliver the joyful culture of Korean cuisine to customers at an accessible price point.”

Vincom Retail plays a critical role as a developer, platform, and connector, bringing international brands to Vietnam while supporting Vietnamese brands in their journey to expand globally.

Additionally, SuperPark, a global indoor activity park brand, shared insights into the development of family-oriented active entertainment, one of the fastest-growing trends in next-generation shopping malls. These real-world examples highlight the strong opportunities for brands to collaborate with Vincom Retail to scale operations, develop innovative retail concepts, optimize performance, and enhance customer experience.

As the market enters a new phase of growth, the event not only facilitated strategic dialogue but also strengthened sustainable partnerships between Vincom Retail and its stakeholders. As a market pioneer, the company continues to support brands in scaling up, elevating business models, and capturing long-term growth opportunities. Notably, emerging super destinations such as Can Gio – envisioned as a future national tourism hub – are expected to serve as powerful growth drivers, contributing to the transformation of Vietnam’s retail landscape.

Vincom Retail is currently the largest retail real estate developer in Vietnam and ranks among the top three in Southeast Asia by scale. The company operates 90 shopping malls with a total gross leasable area of 1.9 million square meters, and manages 5,500 shophouses totaling 1.5 million square meters across 31 out of 34 provinces and cities nationwide, partnering with more than 1,000 brands.

Hashtag: #VincomRetail

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.

Source: Radio New Zealand

Attendance services warn rising fuel prices are likely to drive up truancy.

Two service providers, one in rural Northland the other in Auckland, say transport costs are a big driver of student absences and they expect it to get worse.

Meanwhile, one of the providers, Mangere East Family Service Centre, said long-term truants had often lost the physical fitness they needed to cope with a school day and had to be eased back into classes.

The centre was the new attendance service provider for 22 schools in the area after the government regnegoiated 83 contracts last year.

Chief executive Caroline Tana-Tepania said bidding for the contract was a logical progression because its social workers in schools were already working a lot with truants.

Even so she was surprised by the scale of the problem in the area – so far the centre had been charged with tracking down 400 children who were not enrolled in any school, about 230 of them historical cases from last year.

“I knew that it was an issue, but I certainly wasn’t aware of the extent of the numbers,” she said, adding that schools would be starting to alert the service to their chronic truants.

Anika Channa managed the centre’s nine-person attendance team and had previously worked in attendance for three-and-a-half-years.

She said one of the biggest changes she had noticed in the government’s attendance service overhaul was greater involvement of other social services.

“In my experience, there are a lot of factors as to why children are not going to school. It’s actually not just that they don’t want to go. There’s barriers like transport, housing, health. So having those community organisations involved helps us navigate the families into the correct supports for them,” she said.

In addition, the service’s ‘attendance navigators’ now stayed in contact with children after they returned to school to ensure they maintained their attendance and dealt with any new barriers to attendance that might crop up.

“It just means that we’re able to intervene more quickly rather than having to wait for another referral to come through,” she said.

Channa said a major group of chronic truants was the children of families who had moved out of the area, but kept their children enrolled in a Māngere school.

She said many such families struggled to get their children to school every day and the rising price of petrol would make that problem worse.

Channa said finding non-enrolled children took a “bit of investigation”.

Often the family was not at their last recorded address and attendance officers had to ask schools for children’s emergency contacts, often members of their extended family, in order to track them down.

Channa said once children had been found, they had to be eased back into school.

“Going straight back into school for five days is just so much for them, it’s very overwhelming. It’s not just going to school, it’s socialising, it’s being out in the environment,” she said.

She said that was because many truants spent their time “bed surfing”.

“They just stay in bed and so when they go out to do anything, they get really, really tired so it takes them some time to adjust.”

Channa said consistency and “awhi” or support were the keys to a successful return to school.

Transport a massive problem

Ara Whakamaua has been the attendance service for 26 schools across Hokianga and Kaipara for more than three years.

Director Lisa Halvorson said it usually worked with more than 500 students each year, successfully closing 70-80 percent of the cases by returning children to class or finding other education options for them.

She said this year was already “way better”, thanks largely to a new computer system that showed when and where children last attended school.

“Already we’re seeing that the closure rates are reducing and that the active cases are turning around a lot faster. So that’s really pleasing to see,” she said.

“In the past, we have just been chasing kids to look for them. Whereas now we actually have that last point of contact and we’ve got the ability then to see … a little bit of a pattern or to see how often they were attending and what that looked like. So it does make it so much easier,” she said.

Halvorson said there were a lot of reasons families might not send their children to school.

“Some of it can be as simple as the child doesn’t have the right PE uniform or no shoes, they don’t have a school bag or a lunch box or a drink bottle, and so the whakamā about that child walking into a school without that is hard,” she said.

“Transport is a massive one for us in our region, so the ability for our whanau to have warranted and registered cars or to be able to afford to run their children to school – we’re talking some distances of children having to travel 30 kilometres to get to the closest school one way.”

She said some cases had relatively simple solutions while others involved multiple agencies.

“They just don’t have a pair of shoes on their feet then sure, we’ll go to the Warehouse and buy them a pair of shoes and put them into school,” she said.

“If it’s a bit bigger than that, then yes, there are other avenues that we can support whanau to complete application forms or do hardship grants … We also connect with a lot of other social services in our regions.”

She said the job was rewarding when families received the help they needed and created stability for their children.

“To get the kids back to school and have a sense of well-being and self-worth and some mates around them and a bit of social connection, that goes a long way,” she said.

“Once we see the right supports in place, and then you see the attendance stabilise, and then you see the whanau feel a bit more confident, and then everyone’s navigating the system really well. That’s a massive win,” she said.

“Some of those children would never have had that stabilisation in their lives, because sometimes you’re dealing with little six and seven-year-old children, they’re too young, they don’t know any better.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

The Citizens Advice Bureau says people are going to need significant support as fuel prices continue to rise, and is hopeful whatever relief the government is set to offer will include support for those not in paid work.

Cabinet has signed off on what support the government will offer, with details to be released later on Tuesday.

The Finance Minister has hinted it would be targeted towards low and middle income families.

“It must be targeted, it must be timely, and it must be temporary and not drive inflation or debt higher, because as we steer New Zealand through this immediate challenge, we must also continue to look to the future and bend the debt curve down,” Nicola Willis said on Monday.

The fact the Inland Revenue Department and Treasury had been tasked with going over the options, and a previous admission from the government it would use existing mechanisms, indicated it could be looking at changes to Working for Families.

The In-Work Tax Credit (IWTC) was paid out depending on someone’s income, the weeks they worked, and how many children they had.

In April, the government would raise the abatement threshold (the income level at which the credit would reduce) from $42,700 to $44,900.

There was also the Independent Earner Tax Credit (IETC) for people earning between $24,000 and $70,000.

The IETC was designed to help people on lower to middle incomes that were not eligible for Working for Families.

People earning between $24,000 and $66,000 received a tax credit of $10 per week. It decreased by 13 cents for every dollar someone earned over $66,000.

Asked on Monday whether the abatement thresholds would be temporarily changed, Willis said she would wait to comment until the details of the package were announced.

The Citizens Advice Bureau’s national policy advisor Louise May said there were already “high levels of stress” amongst the client base, and the latest hike in the cost of living could plunge people further into hardship.

“We’ve got a lot of clients coming in for help who are just unable to make ends meet. That includes clients with work and those without, and we are really concerned that those clients are going to be in even more dire financial and material hardship situations,” she said.

May hoped both people in work and people receiving income support who did not have paid work were offered relief, and also called for relief for support services such as food banks and emergency accommodation.

“Any measure to increase money coming into the pockets of people who are struggling should definitely be looked at. One thing we’re really concerned about is the fact that there hasn’t been mention of families who don’t have paid work,” she said.

“We think it’s really important that any relief package that’s introduced as a result of this latest crisis also includes families and people who don’t currently have paid employment. They are the ones who are going to be most affected.”

May said it was not just about what people were paying at the pump, but rent and food prices were also high, and people were struggling.

Infometrics chief executive and principal economist Brad Olsen said changes to the IWTC or IETC would be quick and effective.

He said the difficulty of using the tax system was it would not be as easy for households to see the money come into their back pockets compared to a helicopter payment such as the 2022 Cost of Living Payment, but it would mean the government could run it out quickly and then run it back quickly.

“It does seem like probably the best way to move things through is to use the tax system. Whether or not it’s enough, any little bit will help at the moment, given the sorts of pressures that some households are under. I guess the most workable thing using the tax system around the Independent Earner Tax Credit and the In Work Tax Credit is that they can be targeted to those on lower incomes already, and so you are getting the support there through to people who probably need it most.”

Olsen said the government would be trying to balance providing support and limiting the costs.

“There’s no extra money in the system, and to fund whatever package the government is coming out with either requires an increase in debt or something else in the government system to be cut back on,” he said.

“They want to provide as much support as possible, but keep the limitations tight so they’re not sort of spending a huge amount. And for some people, that does mean that they will feel that they’re not getting the support they might expect from government. But equally, the wider you go, the more money it costs, and therefore at some point, the more the country has to repay.”

Olsen said one of the risks of using tax system changes was they were sometimes “so fiendishly complex” that households may not know what they were entitled to, and sometimes neither did the government.

“They get too much or too little, and then you only find out after the fact that they actually either deserve more, or sometimes in the worst case, they have to start paying this money back, which would almost be the complete opposite of what the government wants to try and support at the moment.

“So you want to, from a government point of view, try and balance these changes, to make them as absolutely blunt and simple as possible, to get that money out the door, to support those who need it, but also have it go through enough of a workable system, which is a more complex tax system that we have to try and provide that sort of targeted focus.”

Labour leader Chris Hipkins was reserving judgement on what the government would offer until he had seen the details, but said the “principle” was that it should be offered to all people on low and fixed incomes.

“Anyone on a fixed income or a low income is going to be suffering at the moment because of the high price of fuel. That includes superannuitants, it includes people living on benefits, it includes people caring for others and not currently earning an income, not just those who are on low incomes in the workforce.”

Hipkins would not, however, offer up what Labour would do differently if it was in power, saying it was up to the government to present a plan.

“At the moment, the onus has to be on the current government to lead the country through that,” Hipkins said.

The Green Party has proposed an urgent support package including free public transport, relief payments for low income and rural people to help meet additional transport costs, temporarily expanding eligibility for school buses and reversing cuts to school bus routes, reversing planned cuts to the Total Mobility Scheme, increasing mileage rates to care and support workers who receive well below standard IRD mileage, and a windfall profits tax.

Asked why the Greens could propose policies but Labour could not, Hipkins said minor parties could “promise a lot of things” during election campaigns.

“They get a lot more luxury to promise whatever they want, compared to the bigger parties,” Hipkins said.

In a post on social media on Monday night, Prime Minister Christopher Luxon said he had spoken with Singapore Prime Minister Lawrence Wong about what more they could do to deal with difficulties in fuel and other supply chains.

Luxon said about a third of New Zealand’s fuel was refined in Singapore and the two leaders agreed it was important to keep the trade of essential goods flowing between the two countries.

“We’re working hard to ensure New Zealand’s fuel needs are met amidst the conflict in the Middle East, which is causing disruption to supply and higher prices at the pump,” he said.

“When I visit Singapore in May, we will sign the Agreement on Trade in Essential Supplies, a deal that will help keep supply chains flowing for fuel, food and other products.

“Building on the great platform we’ve built with one another, we also talked about what further work our Governments can do together as we navigate through these supply chain challenges.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Media Outreach

HONG KONG SAR – Media OutReach Newswire – 23 March 2026 – DFI Retail Group (DFI or the Group) is pleased to announce its 2025 Sustainability Disclosure, highlighting the Group’s continued progress and commitment to advancing sustainability across Asia.

In 2025, DFI delivered strong progress on key sustainability commitments:

• 22% reduction in Scope 1 and 2 greenhouse gas emissions compared to the 2021 baseline, with a target of 50% reduction by 2030.
• Waste diversion rate improved to 66%, up from 61% in 2024, with a target of achieving 80% by 2030.
• Invested US$3.9 million in community initiatives across markets.

The Group also advanced Scope 3 decarbonisation across supply chain of four key commodities – rice, coffee, dairy and beef. Initiatives included the launch of 380 tonnes of Low-Carbon Rice achieving a minimum 30% on-farm emissions reduction, sourcing 100% deforestation-free certified coffee beans for 7CAFÉ Hong Kong, Macau, and Singapore, and IKEA, and partnering with The Mills Fabrica to launch the DFI Sustainability Innovation Challenge to identify global solutions for beef and dairy emissions.

Scott Price, Group Chief Executive, DFI Retail Group shared, “We remain committed to our purpose of sustainably serving Asia for generations with everyday moments. In 2025, we made clear progress on our pathway to reduce Scope 1 and 2 emissions by 50% by 2030, with investments in refrigerant management, energy efficiency and behaviour change initiatives across our operations. At the same time, we continued to deliver affordable, sustainable products that meet customer expectations, including the introduction of Low-Carbon Rice in Hong Kong and the expansion of our ‘Grounds to Green programme’ at 7Eleven. These efforts, together with disciplined waste and packaging management, keep us firmly on track to meet our 2030 sustainability targets.”

Erica Chan, Group Chief Legal, Sustainability and Corporate Affairs Officer added, “Strong governance and transparency remain central to how we deliver on our sustainability ambitions. By streamlining our disclosure and enhancing our materiality assessment, climate scenario analysis, and transition plan, we are aligning with global standards such as IFRS S1 and S2. This ensures stakeholders gain a clear, holistic view of our progress and priorities, while reinforcing our commitment to creating long-term value across People, Products, and Planet.”

In 2025, DFI continued to be guided by its Sustainability Framework, centred on the three pillars of People, Products and Planet, with Governance as the cornerstone. This framework remains integral to the Group’s approach, ensuring robust leadership and oversight while driving initiatives that empower people, expand sustainable product choices, and reduce environmental impact across operations and supply chains.

Highlights of 2025 Initiatives:

1. People: DFI Group and its business formats continued to support communities through Our Community Giveback initiatives, investing US$3.9 million and reaching 1.25 million beneficiaries across 12 markets. The Health and Beauty segment launched professional health services at Mannings and Guardian, extending access across more than 450 pharmacies in all markets. For team members, capability building was strengthened through major initiatives such as the launch of DFILEARN, enhanced leadership programmes, and structured career development frameworks, empowering growth across all levels of the business. At the same time, DFI upheld rigorous standards for suppliers, maintaining 100% ethical audits of Own Brand factories in high-risk countries and reinforcing responsible practices across supply chains through comprehensive assessments, audits, and engagement.
2. Products: In 2025, 48% in-scope Own Brand products carried third-party sustainability certificates, up from 28% in 2024. At the same time, 83% Own Brand plastic packaging component that is recyclable, reusable or compostable, keeping us on-track to meet the target of at least 85% by 2030. The expansion of the 7Eleven’s ‘Grounds to Green” Coffee Grounds Upcycling Programme further reflected our efforts to embed circularity principles where relevant. The programme repurposed used coffee grounds into natural fertiliser to grow fresh produce, which was then incorporated into 7-SELECT juices and ready-to-eat items.
3. Planet: DFI recorded a 22% reduction in Scope 1 and 2 emissions in 2025, compared to our 2021 baseline, on track towards our 50% reduction target by 2030. As refrigerant leaks remain one of the primary sources of these emissions, the Group continued upgrading refrigeration systems and, in April 2025, commissioned the first CO₂-based natural refrigerant system in Hong Kong’s food retail sector at the Cloudview Market Place store in North Point. This was followed by the installation of a sub-critical CO₂ refrigeration system in Oliver’s The Delicatessen in Central Hong Kong in September 2025, marking important milestones in advancing low-carbon operations across the portfolio. Waste diversion improved from 61% to 66% in 2025, as part of our efforts to achieve 80% waste diversion by 2030.

By embedding sustainability into our strategy, operations, and value chain, we are not only tackling today’s challenges but also building a resilient, responsible business that creates lasting value for our customers, communities, and the environment.

For detailed information on the various sustainability initiatives undertaken by DFI, please refer to the Sustainability Disclosure in the Integrated Annual Report 2025. To learn more about DFI’s efforts, please visit DFI’s website.

https://www.dfiretailgroup.com/en/

Hashtag: #DFIRetailGroup #SustainabilityDisclosure #PeopleProductsPlanet #Mannings #Guardian #7-Eleven #Wellcome #MarketPlace #IKEA #yuu

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.

Source: Radio New Zealand

Fonterra’s first half result is expected to deliver to expectations, but with a murky outlook as the war in Iran threatens global supply chains, along with rising energy and other costs.

Generate KiwiSaver investment specialist Greg Smith said strong demand for dairy products as well as the low value of the New Zealand dollar would help Fonterra through the ongoing volatility, though there could be some disruption to its cheese exports to places such as the United Arab Emirates, as an example.

“So there are some impacts there, and product that potentially will need to be re-routed,” Smith said.

The market consensus for the six months ended January was for revenue in the order of $11 billion, with an underlying profit of $976 million and a normalised net profit of $445m.

The first half dividend was expected to be about 21 cents per share, in addition to a special Mainland dividend in a range of 14-to-18 cps, following the completion of the sale of Fonterra’s Mainland Group of global consumer and associated business to Lactalis for $4.22b.

Where is the growth coming from?

The company was forecasting growth in its ingredients and food services business to fill any gap left by the sale of the consumer business by the year ending July 2028.

“Unlike other company results, I think the focus this time in particular (will be) less on the numbers… and I think that’s principally reflecting the strategic reset that’s underway,” Forsyth Barr senior equities analyst Matt Montgomerie said.

Two key focuses will be on where Fonterra’s debt levels, following the divestment and how the ingredients and food services businesses were planning to fill the earnings gap left by the sale of the consumer businesses.

Forecasts

• FY26 forecast earnings guidance from continuing operations at between 45 and 65 cents per share.
• Current season forecast Farmgate Milk Price midpoint $9.50 per kgMS – range of $9.20-$9.80 per kgMS.
• Target to close Mainland underlying earnings gap of $300m – FY28 to match FY25.

“Delivery and execution and messaging around that target is the key for the next few years,” Montgomerie said.

Who will lead Fonterra?

Fonterra chief executive Miles Hurrell resigned this month following a 25-year career with Fonterra, including eight years as chief executive after the resignation of the late Theo Spierings in 2019, who failed to connect with farmer-shareholders and left the company in a poor financial position, with high debt levels to deal with.

Montgomerie said farmers will want to see someone who operates in a similar mode to Hurrell, who was able to relate to farmers on a day-to-day business and deliver on the turnaround strategy.

“The farmers are looking for consistency and continuity. Obviously, change can bring about new perspectives, but I would be surprised if there are any notable changes in strategic direction with the new CEO,” he said.

“It feels like there’s a strong desire to provide sort of an opportunity for someone internally to continue the strategic direction of the business. But I think the key thing is that reliability and trust from a farmer point of view, but then also Fonterra’s customers all around the world.”

Smith said the next chief executive will have “big gum boots to fill”.

“I’m sure there’ll be a swathe of high quality internal candidates put forward but also no doubt there’ll be a global benchmark process,” he said.

“I don’t really think there’ll be a significant change in strategy, given all the effort that has gone into refocusing and simplifying the business.”

The bigger picture?

Smith said the sale of the Mainland business will give the New Zealand economy a much needed boost.

“The Mainland sale is going to inject potentially around $3 billion, if not more into the Kiwi economy,” Smith said.

“So that’s a positive story for the second half of the year, economically.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

ASB’s latest Regional Economic Scoreboard shows Canterbury leading New Zealand’s regional growth, Auckland making strong gains, and Wellington slipping to the bottom of the rankings.

Canterbury scored back-to-back economic wins in ASB’s latest regional economic survey.

Canterbury finished the final quarter of 2025 on a strong note, once again topping ASB’s Regional Economic Scoreboard as the country’s best‑performing regional economy.

Otago and Waikato tied for second place, while Auckland jumped from seventh to fourth.

ASB said Canterbury secured its third quarterly win of 2025, outperforming the rest of the country in employment, retail spending, housing activity and population growth.

Chief economist Nick Tuffley said the South Island continued to lead New Zealand’s multi‑speed recovery.

“Canterbury has delivered back‑to‑back wins to close out the year, supported by strong dairy incomes, steady jobs growth, resilient consumer spending and the recovery of the tourism sector,” he said.

Otago’s ranking was boosted by a strong tourism rebound, while Waikato benefited from a robust primary sector and an improving labour market.

ASB expects the upcoming Fonterra capital return from the sale of Mainland to further lift dairy farming regions through increased spending and investment.

Auckland’s rise was driven by gains in retail spending, construction activity and consumer confidence, although its labour market remains subdued.

Tuffley said Auckland’s move up the rankings showed the economic upswing was widening beyond the regions that led earlier in the cycle.

At the other end of the table, Wellington finished last, weighed down by ongoing weakness in the housing market, construction activity and discretionary spending, despite relatively strong employment growth.

Tuffley said Wellington’s economy should improve, helped by low interest rates, but emerging challenges could slow the pace of recovery.

Nationally, ASB said the economy showed signs of growth in the final quarter of 2025 as lower interest rates lifted retail spending and employment indicators stabilised.

However, Tuffley warned the conflict in the Middle East would pose fresh headwinds through higher energy costs and rising inflation.

“The situation and extent of any impact to growth and inflation is highly uncertain and will depend on how long the conflict goes on for,” he said.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Fonterra delivered a strong first half result, beating market expectations, while lifting its full year earnings outlook and forecast farmgate milk price.

The co-operative said a “favourable product mix and resilient global demand for high value dairy Ingredients and Foodservice products” enabled Fonterra to deliver and better than expected result.

The dairy co-operative’s net profit for the six months ended January rose 3 percent, with group revenue up 9 percent.

Key numbers for the six months ended January compared with a year ago:

• Net profit $750m vs $729m
• Revenue $1.231b vs $1.107b
• Earnings per share 45 cents vs 44cps
• Normalised earnings per share 51 cps vs 47cps
• Return on capital 11.2% vs 10.4%
• Interim dividend 24cps vs 22cps
• Special Mainland dividend 16cps – Capital return of $2 a share – expected to be paid 14 April

Current forecast vs previous forecast

• FY26 forecast earnings guidance from continuing operations between 50 – 65cps vs 45 -65 cps
• Current season forecast Farmgate Milk Price midpoint $9.70 per kgMS vs 9.50 per kgMS.
• Reaffirms target to close Mainland underlying earnings gap of $300m – FY28 to match FY25

Outgoing chief executive Miles Hurrell said the changes to the forecast Farmgate Milk Price and earnings reflected improvement in global commodity prices and the co-op’s strong underlying

margins and cost control.

However, he said significant volatility remained, particularly as the conflict in the Middle East continued.

“The underlying performance of Fonterra’s continuing business is stable, allowing the Co-op to return all earnings associated with the Mainland Group business and lift our forecasts for the remainder of the year ahead,” Hurrell said.

“Demand for our products is strong, and we’re focused on our plan to maximise both the Farmgate Milk Price and earnings.”

The co-op also delivered a return on capital of 11.2 percent, in line with its target range.

“The first half of the year has been shaped by strong milk flows, with the Co-op collecting record milk volumes in the South Island so far this season,” Hurrell said, though several adverse weather events had put pressure on operations.

“Our performance shows that we are growing the high-value parts of our business through optimal allocation of milk solids across our product mix, which is driving a strong return on capital for shareholders and unit holders.”

Managing geopolitical volatility

Hurrell said war in the Middle East was having an impact on its supply chain through the region, with potential to increase Fonterra’s inventory levels and costs over the course of the second half of the year.

There was also the potential for further volatility in global commodity prices, he said.

“The conflict is a complex and dynamic situation that is changing daily, but we are confident that we’re on the right track to get product to customers.”

He said Fonterra’s business was designed to manage volatility.

“Our scale and strong relationships with customers and logistics provider Kotahi will help us to navigate through these challenges better than most.

“With this in mind, we remain focused on delivering on our strategic targets.”

Where the growth is coming from

The company said it was focused on deepending its position as a world-leading provider of dairy ingredients.

“In line with the co-op’s strategy, we have continued to focus on optimising our product mix by allocating milk solids effectively to the highest accessible demand.

“With milk collection tracking at 2.3 percent growth year-on-year, we have leveraged flexibility in our asset network and increased the manufacture of our highest returning product portfolios, such as cheese and proteins,” it said in its interim report.

Fonterra said it was also expanding its Foodservice business in and beyond China to grow earnings.

“Diversifying our cream portfolio and expanding our customer base remains a key focus. Anchor Easy Bakery Cream continues to perform strongly in China, valued for its functionality, quality and accessible price point.

“The cream has now launched in Indonesia and Thailand, with other markets across Southeast Asia to follow.”

In addition the company said it was investing more in operations.

“During the half, we continued to invest in our assets to drive growth in our Foodservice and Ingredients businesses, and in projects intended to improve energy security, operational resilience, and reduce the Co-op’s emissions.”

It was also investing more in science and technology.

“In line with our strategy, the co-op has continued to advance its innovation pipeline across products, processes, data and new business models.

“Our team and dedicated research and development centre remains focused on core dairy and advanced nutrition, manufacturing performance and capability, and strengthening in-market application capability to support long-term growth, efficiency and resilience.”

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

MIL OSI

Source: Radio New Zealand

The finance minister will reveal “targeted and temporary” support for hard-hit families on Tuesday, as fuel costs continue to rise.

Nicola Willis gave notice of the announcement at Monday’s post-Cabinet media briefing, alongside Prime Minister Christopher Luxon and Associate Energy Minister Shane Jones.

Jones also announced plans to align New Zealand’s fuel standards with that of Australia, allowing the import of fuel destined for Australia to New Zealand instead.

Willis said the decisions on support had been taken at Cabinet, and while some of the details were still being worked out, that would not affect how quickly families could get it.

“This conflict is impacting just about every New Zealander, it has pushed up the price of petrol, diesel and jet fuel and those increases are already hurting our people and our businesses. Unfortunately the government is not in a position to mitigate that impact on everyone,” she said.

“The approach we are taking is consistent with the findings of the Royal Commission of Inquiry into the response to the Covid pandemic, which highlighted the damage that can be done by untimely, untemporary and untargeted spending.”

It was unclear when the support would be rolled out, with Willis saying that would be made clear when it was announced.

Motorists should fuel up as and when they needed to, she said, with the government’s solution set to target income rather than fuel prices.

‘No concerns’ about fuel supply

For now, there were no concerns about fuel supplies in New Zealand, she said.

“To date, all shipments have arrived as scheduled and fuel importers have not raised any concerns about shipments that are due here in future.

“It remains the case that we have to be prepared for the possibility of disruptions in the medium to longer term, particularly because the refineries in Southeast Asia from which we import more than 90 percent of our fuel may have challenges getting the feedstock crude oil that they need.”

Luxon said the country had at least enough fuel for the next seven weeks, although the government was preparing in case of long-term further disruption.

“If you are someone who has just faced a 30 percent increase in your fuel bill or a 60 percent increase in your diesel bill since the actual crisis, since this conflict has commenced, it’s real.

“We cannot do the Covid learnings and mistakes, which was just spray a heap of money around that has short term gain but long term pain – massive long-term pain – and equally we’ve got to find a way to get people support in a temporary, targeted kind of way.

“The reality is that we are not going to be able to alleviate the pressure of rising prices for everyone, but what we’ve been clear about are the parameters for any support that we provide, which is that it must be targeted, it must be timely, and it must be temporary and not drive inflation or debt higher.”

The latest data from Ministry of Business, Innovation and Employment showed stocks for about 47 days of fuel, including about 50 days worth of petrol, 46 days of diesel, and 45 of jet fuel.

The data, accurate to last Wednesday, marks about two days fewer than was reported last week.

One new fuel shipment arrived on Sunday, and two more – carrying between them another 20 days of each kind of fuel – are expected to arrive in the next fortnight.

The next update is due on Wednesday, but the ministry says New Zealand is not yet experiencing the kind of sustained disruption that would justify emergency measures under the national fuel plan.

Luxon said nothing had changed about New Zealand’s position on the Iran conflict, but that Iranians “holding hostage a whole bunch of ships to bring fuel and critical supplies … that’s not acceptable”.

“What we want to see is a quick resolution to this conflict and that means that actually respecting civilians and civilian infrastructure is really important … we think the best thing is de-escalation.”

Willis confirmed some consideration had been given to which industries could be prioritised if fuel rationing was needed, but this would not be revealed until a later date.

“We will not be having to hit the button tomorrow, but we will outline what our proposed phasing of response is … we recognise that it’s useful for people to understand what could be coming under a range of scenarios,” she said.

She noted the high prices would also naturally limit fuel use.

“It is pinching people’s pockets already and that is changing people’s choices. So Auckland transport have reported they had their biggest day of public transport use in seven years, I think that’s people deciding to use their cars a little bit less because it’s pretty expensive right now.”

‘Anzac pact’ in fuel and other standards

Jones outlined the government’s plan to temporarily allow fuel that meets Australian specifications to be supplied to the New Zealand market for up to a year.

Fuel companies had said this could allow them to secure shipments more quickly, and from a wider pool of suppliers.

Jones said long-range vessels typically carried about 120 million litres, and New Zealand consumed about 24 million litres of fuel a day – with about 47 percent of that being diesel, about 35 percent being petrol, and the remainder being aviation fuel.

“Should such a vessel be on its way to Australia then we would have the ability to also benefit from such a vessel.”

He said fuel refined to Australian standards was compatible with New Zealand vehicles, and met safety and quality expectations, pushing back on the suggestion it would allow dirtier fuels than under current standards.

“It’s unkind of us to refer to our Aussie compatriots as dirty,” he said. “There’s two things – whether or not fuel used in a high-temperature northern Australian environment, we are advised that a lot of that fuel is suitable for the North Island … with the South Island the fuel importers assure us that they will have the optionality to service both of those markets.”

He said officials had spoken to Australian counterparts.

“We pushed the idea that at some point in time we should explore and ANZAC pact and I would say to you this is the first step that we’re taking to join forces.

“It’d be fair to say that I’ve got a fair degree of support in our Cabinet to actually move towards permanent harmonisation of not only these standards but a variety of other standards in the economy.”

Willis and the associate ministers of finance would make further improvements, he said.

The government would not follow Australia’s lead in relaxing standards to allow higher-sulphur fuel, he said, at least not yet.

“At this stage it’s not our intention to do so, however, we will take advice should the situation change – and that could be an option that expands our supply.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand