Category: Business

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Banks Peninsula still cut off after floods hit Canterbury

Source: Radio New Zealand

Little River Cafe and store owner Cameron Gordon RNZ/Nathan McKinnon

The town of Akaroa on Canterbury’s Banks Peninsula will remain cut off overnight, with State Highway 75 closed because of slips and flooding that swamped Little River.

A local state of emergency was in place for the peninsula, where several hundred people remained without power and many more affected by telecommunications outages.

Little River flooding in Canterbury RNZ/Nathan McKinnon

Little River Cafe and Store owner Cameron Gordon has lived in the settlement for 20 years but told RNZ he had never seen flooding so bad.

“This is the worst, significantly the worst by far”, he said.

“It’s the deepest water we’ve had and the most damage around town as well, no doubt.”

Gordon said the cafe had flooded five times, most recently last May when a foot of water washed through some businesses.

Flooding at the Little River Cafe on Tuesday. RNZ/Nathan McKinnon

“We can’t do much yet, everything’s covered in water. We’re just sitting and waiting, feeling very frustrated and just over it. Well and truly over it. We’ve done this too many times,” he said.

“Our house also floods regularly with any heavy rain. We just seem to be in low land with pour drainage and seem to cop it. We’ll see what happens, see what the damage is and just go from there.”

A boil water notice was in place for Little River and Wainui, while about 250 households and businesses were expected to be without power overnight.

A damaged fibre line meant One New Zealand and Spark services were off-line but Two Degrees was working.

Civil defence chiefs said people should still call 111 in an emergency because it would go through the Two Degrees network.

Little River flooding in Canterbury RNZ/Nathan McKinnon

Little River Campground owner Marcus Puentener said more than 300 millimetres of rain had fallen in the area, twice what forecasters had predicted.

“Two bridges are down, the driveway is pretty wrecked. A lot of water has come down off the road, out of the river and through the camp area,” he said.

“We’re trapped in Okuti Valley. There’s no power in Okuti Valley. There are slips on the roads blocking some residents in and at the bottom of the road there’s at least a foot, if not more, of water blocking any exit.”

Some tourists had international flights to catch but no way of making them, Puentener said.

Further down the road in Cooptown, Tim Wilson questioned whether there should have been more warning or greater urgency.

“This is right up there,” the long-time local said.

“Maybe it should have been a red weather watch instead of an orange but I don’t know if that makes any difference to the outcome. It’s going to be a big clean up.”

Christchurch mayor Phil Mauger said the the council was talking to the government about getting a Defence Force Unimog into the area.

“Cars can just not get through,” he told RNZ on Tuesday.

“It’s just a matter of just being able to get there with emergency services and get people out safely as well, so that’s the main concern.

“As well as getting power and comms on. People are feeling really isolated so we’ve got to sort that out as quick as we can.”

Heavy rain also caused widespread flooding in Christchurch, where the Heathcote River broke its banks.

People who lived near the river in suburbs like Opawa and Beckenham said they were used to the river flooding but the water was lapping ever-closer to their homes.

Stacey Hurst was not one of the lucky ones.

For the second time since she moved to Eastern Terrace two years ago she was mopping up in her garage after floodwater rushed in on Monday night.

Flooding in Eastern Terrace. Tim Brown/RNZ

“Once we realised it wasn’t going to slow down we moved everything upstairs to minimise the damage,” she said.

“We had an almost identical experience last year with about a foot of water coming into the shed.”

The wake from cars driving down the road made the problem worse, Hurst said.

“It just sends a big wave in here,” she said.

Hurst’s neighbours had avoided water getting into their homes but were shocked by the speed at which the river broke its banks, especially because last year’s floods followed days of heavy rain and coincided with king tides.

Georgia Sytema said the water rose quickly.

“This morning our whole yard was flooded, which doesn’t usually happen, it was up into the driveway. It’s a lot higher than usual,” she said.

Emeline Sales was also nervous as the water rose on Tuesday morning.

“We woke up to a big moat,” she said.

“This is the worst it’s been. It came all the way up to my husband’s car, it was quite deep this time around. It was cutting it close this time.

“It was the drains that started flooding first before the river actually broke. We haven’t had issues with the drains before but that’s what caused all the quite intense surface flooding and then the banks broke.”

Sam Guerin moved to nearby Hunter Terrace about three months ago.

He knew his home was in a flood management area and it was part of the reason he and his partner planned to knock down the house and rebuild further up the site.

Guerin said the scale of flooding was worse than anything he had prepared for.

“We were told that in one of the worst floods in the last 10 to 15 years, the water lapped at the driveway but it’s quite a lot worse than that and it happened so quickly,” he said.

“We were told the last time it flooded was before the council had done a lot of resilience measures, so it was surprising for the water to get as high as it did.”

The family had returned from a night out to find the river had burst its banks, the road was flooded and water was rising about 100 millimetres every hour.

“It was a bit of a sleepless night because we were coming out to check it wasn’t getting too close to the floor level and throughout the evening it was up on our verandah deck,” Guerin said.

“It was getting quite high, so that was a little concerning. It was under the house.”

Woolston was also affected, with Clarendon Terrace residents nervously watching the water as it washed over the riverbanks, onto the road and towards their properties.

Emily Jensen said she moved her cars on Monday night because the road had already flooded.

“I haven’t seen it that high up. I’m really surprised by how much flooding there is just after a day’s rain,” she said.

“It feels a little scary because if you were to think multiple days of rain and king tides on top of that, I don’t know what we’d be looking at.

“I would love to know the council are thinking about what to do in these areas because with climate change and everything’s that happening, it doesn’t feel so good to be down here. Five or six years ago we had a really big flooding event but the water didn’t come up the driveway at all, but now it’s coming up so it’s getting worse.

“It just creates anxiety about what you’re going to wake up to.”

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

LiveNews: https://livenews.co.nz/2026/02/17/banks-peninsula-still-cut-off-after-floods-hit-canterbury/

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A new major streaming service is coming to New Zealand

Source: Radio New Zealand

A new streaming service will launch in New Zealand this year – HBO Max – with Sky TV confirming the end of its deal with the major programme provider.

The HBO Max direct-to-consumer streaming service will be available mid-2026, Warner Bros. Discovery announced on Tuesday.

Details about subscriptions and pricing will be shared down the line, it said in a statement.

Scene imagery from Season 2 of The Pitt, on Neon.

Supplied

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

LiveNews: https://livenews.co.nz/2026/02/17/a-new-major-streaming-service-is-coming-to-new-zealand/

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Infrastructure Plan Contradicts Government Own Spending Priorities

Source: Green Party

The newly released National Infrastructure Plan stands in stark contrast to the Government’s actual spending priorities, the Green Party says. 

“We welcome today’s National Infrastructure Plan, which would take us in the opposite direction of the decisions of Luxon’s Government,” said Chlöe Swarbrick, Green Party Co-Leader and Finance spokesperson.  

“This Plan shows how we can and must invest in resilient critical infrastructure like hospitals and renewables. Yet Luxon’s Government continues to burn taxpayer money on inflaming the climate crisis and inducing congestion through the daft LNG terminal and roads at all costs. 

“Treasury confirmed on Friday that we should be borrowing more to invest in infrastructure that builds real value and expands our productive capacity, which is exactly the vision the Greens have shown can be a reality in our Fiscal Strategy. 

“As parts of our country are underwater in yet another climate emergency, the need for decisive action, leadership and investment has never been more clear. 

“The choice is obvious: invest now in resilience, reducing the cost of living and improving our quality of life – or pay exponentially more for failures and disasters later,” said Swarbrick. 

MIL OSI

LiveNews: https://livenews.co.nz/2026/02/17/infrastructure-plan-contradicts-government-own-spending-priorities/

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Are $7 blocks now normal? What’s going on with the price of chocolate

Source: Radio New Zealand

Unsplash / Tetiana Bykovets

You weren’t imagining it – Valentine’s Day chocolate probably was more expensive this year.

Stats NZ data shows food prices up 4.6 percent in the year to January, after a 4 percent increase in the 12 months to December.

Grocery prices were up 4 percent.

Sirloin steak lifted 22.9 percent over the year, white bread 57.9 percent and takeaway coffee 6.6 percent, to an average $5.16 a cup.

Chocolate was up 20.5 percent to $6.89 per 250 grams.

Infometrics chief executive Brad Olsen said there was usually a price increase for chocolate in either January or February in the lead-up to Valentine’s Day.

“But chocolate prices have now increased 20 percent, that’s three months in a row of double digit annual price increases.”

He said it was the first time in Stats NZ data that chocolate prices had topped $6 on average for 250g and they were close to $7.

“I do suspect part of that as well is some of the pricing changes you’ve seen in recent times … part of that will be around specials that are offered or not, and also the fact that Whittaker’s has raised their chocolate prices as well in the last couple of months. That might well be filtering through into the numbers.”

He said there was international pressure on chocolate prices. Cocoa prices had eased a little from highs earlier in 2025 but New Zealand chocolate prices never lifted as much as cocoa did.

“Long story short, where international chocolate prices were at the end of last year up a good 37 percent from where international cocoa prices were two years ago. I suspect that the increase you’re seeing is a combination of pricing changes coming through in the system already, the usual Valentine’s Day spike, but being amplified by those international chocolate prices or cocoa prices going up, that have taken a while to filter their way through into the system.”

Westpac senior economist Satish Ranchhod said Valentine’s Day was probably not a major driver of the price change.

“Chocolate prices get heavily discounted in November and December in the run up to Christmas. They come off special in January and then get discounted again over February.”

Woolworths was this week selling 250g blocks of Whittaker’s chocolate for $7.49.

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

LiveNews: https://nz.mil-osi.com/2026/02/17/are-7-blocks-now-normal-whats-going-on-with-the-price-of-chocolate/

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Members of Gas Security Fund panel named

Source: New Zealand Government

Gas and energy industry specialist Andy Knight has been named as chair of the expert panel appointed to advise the Government on projects applying to the $200 million Gas Security Fund, Resources and Regional Development Minister Shane Jones says.

“Mr Knight’s depth and breadth of experience in gas industry regulation and energy production and supply makes him uniquely qualified to lead the panel that will provide expert advice on the technically and economically complex projects targeted by the fund,” Mr Jones says.

The $200m Gas Security Fund opened for applications on 12 January 2026. It was created to unlock opportunities to improve gas supply and storage by focusing on activities that have short- to long-term benefits, including from existing sites, in response to declining gas production.

“New Zealand’s history of affordable and secure domestic gas has underpinned major parts of our economy – and this Government wants that to continue by shoring up our domestic supply, supported by the import of LNG which can provide flex to supplement our gas requirements in the meantime,” Mr Jones says.

Two other members appointed to the panel are geophysicist Tim Allan, who has extensive international experience in the industry, and John Pagani who brings experience of working with boards and management of energy firms and industry associations in New Zealand and Australia. Officials continue to assess options for two more members to be appointed in due course.

Mr Jones as Resources Minister and Associate Finance Minister Chris Bishop are the decision-making ministers for applications to the fund. 

“The panel members’ direct commercial and technical oil and gas expertise, and experience of New Zealand’s complex gas exploration and market conditions, means they will be able to provide valuable independent advice,”

“These are high-calibre individuals with impressive technical and industry expertise. We look forward to working with them,” Mr Jones says.

The Gas Security Fund is administered Kānoa – Regional Economic Development & Investment Unit. For more information, including how to apply, go to www.growregions.govt.nz/gas-security-fund. 

Biographies:

Andy Knight

Mr Knight is the former chief executive of The Gas Industry Co, one of the gas sector’s co-regulators. He is chair of Taranaki Iwi Holdings Management and a director of the Energy Efficiency Conservation Authority (EECA) as well as of related iwi entities and private investments. He was previously a director of Powerco, CEO of New Zealand Oil & Gas and has held executive roles with Vector Limited, the NGC Holdings Limited Group of Companies, The Australian Gas Light Company and Fletcher Challenge Energy.

Tim Allan

Mr Allan is a resources industry professional, with more than 30 years’ international experience. Most recently he was the exploration stakeholder lead and senior exploration geophysicist (Australasia) for OMV. His experience covers the full spectrum of oil and gas exploration, appraisal, development and production operations, in a wide range of land and marine environments.

John Pagani 

Mr Pagani is the external relations manager for the Gas Industry Company. He has been involved in the energy sector since 2012 and was previously general manager corporate services at New Zealand Oil & Gas. Mr Pagani has worked with boards and management of energy firms and industry associations in New Zealand and Australia. 

 

MIL OSI

LiveNews: https://livenews.co.nz/2026/02/17/members-of-gas-security-fund-panel-named/

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National Infrastructure Plan Delivered

Source: New Zealand Government

Infrastructure Minister Chris Bishop today welcomed the release of the National Infrastructure Plan and tabled it in Parliament.

“New Zealand’s future prosperity depends on high quality infrastructure. It is central to our quality of life and to the Government’s “Going for Growth” agenda,” Mr Bishop says.

“Delivering and maintaining better infrastructure is a key part of the Government’s plan to fix the basics and build the future New Zealanders both need and deserve.

“Creating a 30-year plan for New Zealand’s infrastructure was a key campaign commitment for the National Party in 2023, and I asked the independent New Zealand Infrastructure Commission to begin work on it shortly after we formed government. 

“The resulting National Infrastructure Plan, released today, sets out a 30-year view of how New Zealand can improve the way it plans, funds, maintains and delivers infrastructure. The final Plan follows consultation on a draft released last year and identifies four themes for change and 10 priority actions for the decade ahead.”

“The Plan does not sugar coat things: New Zealand has real challenges ahead. 

“We spend a lot on infrastructure – around 5.8% of GDP annually over the last 20 years, one of the highest in the OECD – yet we rank towards the bottom for efficiency, and fourth to last in the OECD for asset management. Many central government agencies do not properly understand what they own or have long-term investment plans. The assurance system for new projects and long-term investments is fragmented and inconsistent.

“The Government has spent a lot of time in the last two years making a start on fixing the basics of our system, but there is a lot more to do. The Investment Management System has been strengthened, long-term investment plans are beginning to be developed, and Ministers are demanding higher quality information from agencies. We have launched a comprehensive programme of work to improve asset management in the public sector. 

“On top of this, we have established National Infrastructure Funding and Financing to connect private capital with public projects, clarified roles and responsibilities across the system, published Funding and Financing Principles, updated guidance material for PPPs, and improved the quality and transparency of the National Infrastructure Pipeline.

“It is encouraging that many of the Commission’s top 10 priorities for the decade ahead (page 14) reflect work already underway by the Government:

  • Lifting hospital investment for an ageing population – Health New Zealand now has a long-term capital infrastructure plan, and this Government is providing record investment in both capital and maintenance spending for health.
  • Completing catch-up on water renewals and restoring affordability – The Local Water Done Well reforms are well underway, including stronger economic oversight.
  • Implementing time-of-use charging and fleetwide road user charges – Legislation enabling time of use pricing was passed last year, and the government is working with Auckland Council on scheme options. We have begun the transition to Electronic Road User Charges (E-RUC) across the transport fleet.
  • Prioritising and sequencing major land transport projects – the government will soon publish a Major Transport Projects Pipeline.
  • Managing assets on the downside and prioritising maintenance first – Phase 1 of the government’s Asset Management Work Programme has provided practical tools and guidance to agencies so that they can up their game in asset management. Phase 2 is about driving more fundamental changes to system settings.
  • Identifying cost-effective flood resilience infrastructure – The Government has developed a National Adaptation Framework to help reduce and manage the growing risks we face. The Regional Infrastructure Fund (RIF) has invested nearly $200 million into 74 flood resilience projects across the country.
  • Committing to a durable resource management framework – The government has introduced legislation to replace the Resource Management Act with a more enabling and stable system, with spatial planning and national standards at its heart.
  • Upzoning around key transport corridors – the government’s housing and planning reforms are focused on enabling transport-oriented-development, particularly around the new City Rail Link stations.
  • Taking a predictable approach to electrification – we are focused on creating stable policy settings to unlock investment in electricity generation and transmission.

“The Plan contains a series of recommendations for long-term system shifts, including legislative change to require long-term investment and asset management plans, a consolidated assurance function for Ministers, and better linkages between the Commission’s assessment of long-term needs and fiscal strategy.

“We will be studying these recommendations carefully and the Government will publish a response to the plan in June 2026.

“As part of our response to the National Infrastructure Plan I intend to engage with other political parties in Parliament. Infrastructure Commission officials will make briefings available to parties who wish to take a deeper dive into the detail behind the recommendations, and I will be writing to Parliament’s Business Committee seeking time for a special debate on the Plan. 

“Infrastructure lasts for generations. Where we can build durable consensus, we should.

“Fixing the basics and building the future of New Zealand infrastructure is central to lifting living standards and driving our prosperity. The National Infrastructure Plan is a great contribution to this shared agenda for everyone in New Zealand. Now it is up to all of us to do the hard work required to turn ambition into delivery.”

MIL OSI

LiveNews: https://livenews.co.nz/2026/02/17/national-infrastructure-plan-delivered/

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Farmer rescues sheep stranded in Banks Peninsula floodwaters

Source: Radio New Zealand

Farm assistant wades in to rescue stranded sheep after huge downpours at Teddington, Banks Peninsula. Supplied

A Banks Peninsula farm worker had to swim stranded sheep to safety after huge downpours at Teddington.

More than 280mm of rain has fallen on parts of the Banks Peninsula from Sunday night to Tuesday morning. MetService meteorologist Silvia Martino said persistent rain was expected for much of the rest of Tuesday. An orange heavy rain warning was in until 6pm

Farmer Sir David Carter said more than 250mm of rain fell overnight at his property.

“The rain gauge was overflowing this morning. I’ve never seen so much rain and I’ve been farming here for 40 years.”

Carter said paddocks were flooded and trees were are down, which left him stranded on the farm.

“We moved stock to higher ground last night because we knew this was coming, but a farm assistant had to swim nine sheep to safety at 6.30am.

Farm worker rescues stranded sheep after huge downpours at Teddington, Banks Peninsula. Supplied

“I’d say there will be slips on the hills but we won’t know the extent of the damage until the rain stops.”

He said he didn’t think they had had stock losses.

Opawa flooding

In Christchurch, Stuart Payne, an Opawa resident of 35 years, told RNZ it was the second-worst flooding he’d seen in the area.

He said the response from council for the city’s metropolitan areas was delayed, despite flooding in various parts of the city, while most of the focus was currently on the Banks Peninsula.

Flooding in Opawa, Christchurch. Supplied / Stuart Payne

He also questioned why the region hadn’t been placed in a state of emergency. No declaration had been made by 10am on Tuesday.

“Maybe they’ve been caught out.”

Payne sent RNZ photos from his drive on Fifield Terrace, where surface flooding has covered the road.

“It’s like a massive lake.”

Flooding in Opawa, Christchurch. Supplied / Stuart Payne

His property was raised and wasn’t at risk of flooding, he said.

At 8.40am, Christchurch City Council published a list of city road closures on its website.

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

LiveNews: https://livenews.co.nz/2026/02/17/farmer-rescues-sheep-stranded-in-banks-peninsula-floodwaters/

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Live weather: Floods close roads around Banks Peninsula as downpour moves south

Source: Radio New Zealand

Akaroa hit by flooding as storm moves south. RNZ / Nathan Mckinnon

Christchurch and Banks Peninsula are being lashed by heavy rain as the wild weather moves south, causing flooding in Akaroa.

MetService said a deep low east of New Zealand is moving slowly southwards, bringing more heavy rain to the lower North Island and eastern South Island.

However, it said the south-to-southwest gales over central New Zealand are easing.

Banks Peninsula is under an orange heavy rain warning until 6pm, with up to 100 mm of rain on top of what has already fallen.

A heavy rain watch is in place for Christchurch (apart from Banks Peninsula), and Canterbury Plains and Foothills between the Rangitata River and Amberley until 10am.

A heavy rain watch for Dunedin (east of Pukerangi) will linger for longer, and is due to expire at 9pm.

Christchurch City Council said it was closely watching the weather, with roading crews on standby overnight. Some surface flooding has already been reported, but more will be known as day breaks.

State Highway 75 between Christchurch and Akaroa was closed at 11pm on Monday because of flooding. An update on the road is due by 7am.

MetService said has also issued heavy swell warnings for the Wellington and Wairarapa coasts from midday, saying large waves and dangerous sea conditions are expected. Coastal inundation is possible about exposed coasts.

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

LiveNews: https://livenews.co.nz/2026/02/17/live-weather-floods-close-roads-around-banks-peninsula-as-downpour-moves-south/

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How much do you really need to retire early?

Source: Radio New Zealand

One expert says there’s a meaningful gap between a basic and a more comfortable retirement. 123.rf

You’ve probably heard warnings about how New Zealanders are likely to need to work until later in life.

Treasury has pointed out the pressure an ageing population will put on the country’s finances – and the message was repeated at last week’s University of Waikato economic forum by Milford Asset Management.

But what if you’re having none of that, and actually want to retire early?

It’s not impossible, but might require a bit of planning.

How much do you need?

One way to retire is to amass a significant enough sum of money that you can tap into a bit of it each year to replace your income.

This is what most people are already planning to do with KiwiSaver – but if you’re retiring early, your amount may need to be larger because you won’t have the support of NZ Super until you are 65.

Koura founder Rupert Carlyon said people should figure out what they were spending money on at present and which expenses might stop if they stopped working. Then they would need to think about additional things they might start spending money on.

Once you know what you need to be able to pay for each week, you can work backwards to determine what lump sum you need to generate sufficient income to cover that.

He said it would work for most people to draw down 4 percent of the value of their investment portfolio each year.

“The amount you need is going to be quite a lot … basically for simplicity’s sake, you kind of times [your income] by 20. If I’m saying I want $100,000 a year to live off for the rest of my life, I’m going to times that by 20, and that’s about my number.”

That calculation would mean that someone wanting $100,000 a year would need to have $2 million saved. But that does not account for NZ Super being available from 65, which would provide a portion of the $100,000 annual income.

Ana-Marie Lockyer, chief executive at Pie Funds, said based on a “no frills lifestyle” as described by Massey University’s Retirement Expenditure Guidelines, someone would need about $350,000 to $500,000 if they wanted to retire at 60 and about $550,000 to $700,000 if they wanted to retire at 55.

“These are indicative figures and assume you own your home mortgage-free. Home ownership makes a significant difference. If you’re still carrying a mortgage or renting, the amount required increases substantially.

“Lifestyle expectations also matter – there’s a meaningful gap between a basic and a more comfortable retirement. Location plays a role too, with Auckland, Wellington and Christchurch generally more expensive than provincial areas.”

Pie Funds chief executive Ana-Marie Lockyer. Supplied / Pie Funds

Other people might live off the income their investments generated, such as rental properties.

Investment coach Steve Goodey said people could retire when they had a big enough portfolio of properties.

“A minimum four or five if they have low or no debt.”

He said people could aim to have seven and then sell a couple when they were ready to retire to reduce their debt.

Claire Matthews, author of the Massey University guidelines, said the amount people needed to save would depend on what their goals were for retirement, and whether they were planning to work at all.

They would also need to consider whether they were happy to use up all their money or wanted to preserve some.

Claire Matthews, author of the Massey University guidelines. RNZ/Nikki Mandow

“Owning your own home without debt would be helpful. But perhaps early retirement means living in a campervan and travelling around the country, in which case you don’t need a house – although it’s not as simple as that sounds.”

Opes Partners economist Ed McKnight said some people might be able to live on a partner’s income.

“Property investors might have rentals paying them an income. But most Kiwis will be relying on liquid assets – cash, shares, or managed funds they can draw down. And this needs to be outside KiwiSaver, since you can’t touch that until 65 either.

“Where does this money come from? Some people save it up. But more often it comes from selling an investment property or a business.

“One of our clients has a significant managed fund investment and draws down $60,000 a year. Her returns are strong enough that the balance doesn’t really go down.”

He said people should talk to a financial adviser to run through the numbers.

“Because it’s scary watching your balance drop. But if you run the numbers and know your spending will decrease once NZ Super kicks in, that gives you the confidence to actually pull the trigger.”

Opes Partners economist Ed McKnight. Supplied / Ed McKnight

How much will your expenses really drop?

If you own your own home, there are likely to be some costs that you can’t avoid.

RNZ earlier found that just rates and insurance would add at least $6000 in costs each year.

“The first $100 to $150 a week of your income is just rates and insurance before we’ve even started on maintenance,” Carlyon said. “There’s all these kinds of costs that are absolutely skyrocketing,”

He said people who retired early generally weren’t doing it to sit around not doing much, so you’ll need to be realistic about how much money you will really need.

Can you rely on the government?

You could retire and decide to live off government support but it’s probably not advisable or much fun.

Basic JobSeeker for a single person is only $361.32 a week after tax and before additional supports. You can’t access the accommodation supplement if you have more than about $8000 in assets.

There are also expectations that people receiving a benefit of this nature are looking for work.

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

LiveNews: https://nz.mil-osi.com/2026/02/17/how-much-do-you-really-need-to-retire-early/

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Insurance costs drop for some households – as other struggle to get it at all

Source: Radio New Zealand

The median price for insurance for a large house in Auckland had dropped 11 percent year-on-year, Consumer NZ said. RNZ

Aucklanders may finally be getting some relief on their insurance premiums – but the same cannot be said for Wellington and Christchurch, and some people are struggling to get it at all.

Consumer NZ said its latest survey of house and contents insurance premiums showed the median price for insurance for a large house in Auckland had dropped 11 percent year-on-year.

But in Wellington and Christchurch, the cost of insurance was up 10 percent.

Wellington was the most expensive city in the country for house insurance. The median cost of house and contents cover for a standard home was $3824 a year, Consumer’s insurance expert Rebecca Styles said.

Dunedin has the cheapest home insurance options, with the median cost for house and contents insurance for a standard home coming in at $2227.

The quotes were based on a couple with a standard-sized house insured for $560,000 and contents for $90,000, and a family of four with a large house insured for $840,000 and contents for $140,000.

Styles said people could often save money by shopping around.

“When we compared policies with the same excess and sum insured across the six centres, we found the median potential saving was about $550.

“More than eight in 10 people have had the same insurance provider for at least three years. When people decide to switch, it’s usually because of price, and with some of the savings available, we can see why.”

She said people who could find a better price elsewhere could use that to try to negotiate a discount with their current provider.

Opting for a higher excess could also mean lower premiums. But Styles said people should not set their excess so high they could not cover it if they had to claim.

“Ask your insurer if your premiums would be cheaper if you installed an alarm or security cameras – the savings might subsidise the installation costs. If you can afford to, pay your premiums annually – you should get a discount.”

Styles said 1 percent of the 3000 people who responded to the survey said they could not switch because no other provider would offer insurance.

The Auckland drop was coming on the back of a large spike after Cyclone Gabrielle and the Auckland Anniversary weekend flooding, she said. It could be that flood mitigation efforts and infrastructure improvements were also reducing risk.

But people in high risk areas were likely to find it harder to find insurance, she said.

“I think in Wellington and Christchurch, it’s the same old thing of earthquakes, floods and landslides. And it just means that we’re paying more and more for insurance in those regions.

“With the reports of AA Insurance not covering some postcodes, and I think other insurers are weighing up risk across the country, they’re always monitoring their risk portfolios and making sure they don’t have too much risk in one area more so than another. And, if we don’t do anything about a climate adaptation framework, practically in terms of infrastructure – there’s just more and more frequent extreme weather events and flooding – if the infrastructure doesn’t keep up with that, I think prices will just keep going up and up.”

If someone was struggling to find suitable cover, they could contact the Natural Hazards Commission and ask about its natural hazards cover, which offered more limited protection, she said. “It’s sort of the insurance of last resort for natural hazards. So it would be for your house, it wouldn’t be for your contents.”

She said the government’s investigation into the insurance market would help in terms of giving people assurance about whether they were paying fair price.

“We eagerly await the outcome of that, given it’ll be at least six months.”

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

LiveNews: https://nz.mil-osi.com/2026/02/17/insurance-costs-drop-for-some-households-as-other-struggle-to-get-it-at-all/

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“The Olympics of Astrophysics and Space Science” APRIM2026 Makes Hong Kong Debut

Source: Media Outreach

Gathering Global Experts Delivering Insights from the forefront of Space Science and Sustainability

HONG KONG SAR – Media OutReach Newswire – 16 February 2026 – In a landmark development for the region’s scientific community, Hong Kong has been selected to host the Asia-Pacific Regional IAU Meeting (APRIM) for the first time. Dubbed the “The Olympics of Astrophysics and Space Science,” this prestigious event will take place from May 4 to 8, 2026, at the Hong Kong Convention and Exhibition Centre (HKCEC).

Organised by the International Astronomical Union (IAU) and hosted by The University of Hong Kong’s Laboratory for Space Research (LSR), the conference will feature Nobel and Shaw laureates, together with other distinguished scientists from around the world. As a leading astronomical gathering in the Asia-Pacific, the event represents a significant milestone for Hong Kong, underscoring its pivotal role in fundamental research, STEM education, and international collaboration.

A Convergence of Minds in a Burgeoning Space Hub

Professor Quentin Parker, Chair of the APRIM2026 and Director of the HKU Laboratory for Space Research, noted that bringing the “The Olympics of Astrophysics and Space Science” to Hong Kong demonstrates the city’s capacity to serve as a global nexus for astrophysics and space science.

“As Chair of this historic meeting, I am honoured to welcome the global Astrophysics and Space Science community to Hong Kong. We aim to use this platform not only to showcase our city’s capabilities in the ‘New Space’ era but to inspire the next generation of scientists to pursue the unknown,” said Prof. Parker.

Professor Xue Suijian, former Deputy Director of the National Astronomical Observatories of the Chinese Academy of Sciences, attributed the IAU’s decision to Hong Kong’s highly international environment and academic excellence. He highlighted the city’s growing contributions to deep-space exploration, planetary science, and big data analysis, cementing its role as a bridge for international scientific exchange.

Bridging Fundamental Research and Future Possibilities

While rooted in academic rigour, APRIM 2026 also addresses the paradigm shift from government-led initiatives to the democratised era of “New Space.” The conference offers a platform that links theoretical astrophysics with real-world applications.

Aligning with the global scientific agenda, the conference is expected to bring together nearly 1,000 experts. Discussions will span from the origins of the universe to emerging directions in space exploration, covering key areas such as Planetary Science, Stellar Evolution, and Cosmology. The event will also seek to bridge academia and industry, exploring how frontier technologies can contribute to addressing global challenges.

Championing Space Sustainability

A defining feature of APRIM2026 is its focus on “Space Sustainability.” With the growing density of satellite constellations in low Earth orbit, the scientific community faces urgent challenges, particularly in relation to space debris and light pollution.

Through dedicated sessions and public engagement, the conference will tackle these critical issues, advocating for responsible stewardship of the cosmic environment. By integrating these discussions with outreach sessions including youth-focused workshops, the event aims to cultivate a scientifically literate generation ready to steward the future of space exploration.

Professor Luis C. Ho, Director of the Kavli Institute for Astronomy and Astrophysics at Peking University, described the meeting as a vital platform for strengthening Asia-Pacific research collaboration. He noted that the event marks a shift from pure fundamental research to industrial application, allowing high-tech solutions to serve the public and open the “blue ocean” of the space economy.

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

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

LiveNews: https://livenews.co.nz/2026/02/16/the-olympics-of-astrophysics-and-space-science-aprim2026-makes-hong-kong-debut/

Posted on

Wild weather: Strongest winds to hit Wellington in a decade

Source: Radio New Zealand

Taihape weather – flooding and slips aftermath – 16 February 2026 RNZ/Dan Jones

The winds that struck Wellington today were the strongest in more than a decade, says MetService.

Gusts of 193 kilometres an hour were recorded at Mt Kaukau, and 128 kilometres at hour at Wellington Airport – the highest for both since 2013.

There has also been an orange heavy rain warning for the eastern hills of Wellington, also Wairarapa, and the Tararua Range, issued tonight.

The warning is due to expire at 11pm.

About 15 to 25 mm of rain is expected, on top of what had already fallen today.

But attention is turning further south, especially to Banks Peninsula, which is under an Orange Rain Warning and where up to 100-millimetres of further rain could fall.

Christchurch City Council said it was closely watching the weather and was aware of reports of surface flooding.

It said roading crews were being put on stand-by overnight, and more will be known in the morning.

More than 30,000 properties lost power today as wild winds brought trees and power lines down across much of the lower North Island.

Powerco said about 23,000 properties across its network have lost connections and in the Wellington region, about 10,000 have their connections cut.

Manawatū-Whanganui has been hit badly, and the region is under a state of emergency.

Meanwhile, homes on Lincoln Road in Masterton were evacuated due to the threat of falling trees.

Air NZ cancelled flights in and out of several major centres, including the capital, citing strong winds.

“Safety is paramount and we are continuing to closely monitor conditions, with winds expected to reduce later this morning when we expect to resume services,” chief operating officer Alex Marren said.

See how today’s events unfolded with RNZ’s live blog:

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

LiveNews: https://livenews.co.nz/2026/02/16/wild-weather-strongest-winds-to-hit-wellington-in-a-decade/

Posted on

Housing market’s ‘tale of two islands’

Source: Radio New Zealand

Auckland and Wellington stand out as being more oversupplied, say housing experts. RNZ

New Zealand’s housing market is a “tale of two islands”, one economist says – as the fortunes of sellers and house hunters in the South Island rapidly diverge from their northern counterparts.

Real Estate Institute data on Monday added to this picture.

National median prices were up 0.4 percent between January 2025 and last month to a median $753,106. Excluding Auckland, they were up 1.4 percent to $700,000.

But while Auckland and Wellington prices are still down 23.6 percent and 26.9 percent since their post-Covid peak, the West Coast hit a record high of $480,000, up 9.3 percent year-on-year

Southland’s prices were up 5.7 percent year-on-year, Otago’s 6.7 percent and Canterbury 3.4 percent.

An example of what is for sale in Southland for the median price. Supplied

Only Nelson was down 8.9 percent.

But in the North Island, only Waikato, Hawkes Bay and Auckland had a lift in median sales prices in January compared to a year earlier. The increases were 1.4 percent, 2.4 percent and 1.1 percent, respectively.

House price index data shows Auckland prices are down 1 percent a year over five years, and Wellington is down 3 percent a year over the same period, but Christchurch is up 5.4 percent a year, Queenstown 8.1 percent and Invercargill 5.2 percent. Otago and Southland prices are also at new records.

BNZ chief economist Mike Jones said it was a “tale of two islands”.

“The North Island market, if you put all those parts of the country together, is operating at quite a different pace from the south.

“It’s becoming more and more difficult to even talk about the New Zealand housing market as an entity, because it is so divergent amongst those regions.”

He said there was a slow shift south happening as more people migrated within New Zealand.

“Also you’ve got the commodity cash coming through, which is bolstering some of those rural and regional incomes. That’s a story that continues to play out. And then probably the third one is just an affordability dynamic as well, which is that all of these markets, whether it’s in the South Island particularly, are cheaper relative to incomes and rents than the likes of Auckland and Wellington.”

What $950k could buy you in Auckland. Supplied

He said he might have expected the difference to start to narrow but there was no sign of that yet.

“I think with those fundamentals still in place, people still moving south, regional economies performing relatively better, we’ll probably see a little bit more divergence.

“The correction in national house prices ended in April 2023. In the 33 months since, house prices have declined an additional 1.4 percent in Auckland and an additional 3.2 percent in Wellington. At the same time, in Canterbury, Otago and Southland, they’ve gone up 17 percent and 20 percent… So it really shows you how divergent the market has been.”

Jones said there had also been a more aggressive supply response in Auckland, with more building giving buyers more choice.

“If you look at listings per region, certainly Auckland and Wellington stand out as being more oversupplied … there are a few signs of that dynamic slowing down.

“We’re actually getting construction activity start to pick up again, even as population growth is still pretty low.”

Steve Goodey, a property investment coach, said there was “no yield” for investors in Auckland at the moment. “I’m advising clients not to go there for cash flow if that’s what they are after.”

He said there were discounts to be had but not yield. “I like smaller town but not tiny ones.”

He said he had invested recently in Invercargill, Whanganui and Hawera.

Areas like Tokoroa were cheap but there was no prospect of price rises, he said. “While cash flow is what keeps the vehicle of your investing going, capital gains are what makes you wealthy over time.”

Kelvin Davidson, chief property economist at Cotality, said his data showed sales activity outside the main centres picking up fastest.

He said it was likely Auckland and Wellington could lag for a while.

“If you look at house prices, we’ve got a projection that we get a national average rise this year of 5 percent. I wonder if that is probably going to be a bit below 5 percent with the way things are going but as a round number, call it 5 percent.

“It wouldn’t surprise me if. say, Auckland and Wellington are below that number and Invercargill, Nelson, some of these more second-tier cities are a bit stronger. I could see that lasting for a while just reflecting the shape of the economy at the moment.”

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

LiveNews: https://nz.mil-osi.com/2026/02/16/housing-markets-tale-of-two-islands/

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Ushering in a Year of Prosperity: Celebrating Thailand’s Chinese New Year Festival Siam Paragon Joins Forces with TAT and Kasikornbank to Launch “Siam Paragon A Prosperous Chinese New Year 2026”

Source: Media Outreach

Showcasing Spectacular Entertainment and Chinese Cultural Performances, Featuring Renowned Chinese Artist “Zhu Zhengting” to Bless the People of Thailand in the Heart of the City

BANGKOK, THAILAND – Media OutReach Newswire – 16 February 2026 – Siam Paragon, Thailand’s premier global landmark and the top destination in the hearts of Thai people and international tourists, has partnered with the Tourism Authority of Thailand (TAT) and Kasikornbank, ushers in a grand celebration for the Year of the Horse. The event “Siam Paragon A Prosperous Chinese New Year 2026,” bringing an array of rare cultural performances from China to offer a magnificent experience in the heart of Bangkok, The celebration also features special performances by leading Thai artists and an exclusive appearance from Chinese superstar “Zhu Zhengting,” who flew in to deliver New Year blessings to Thai fans at Parc Paragon, Siam Paragon.

The Grand Opening Ceremony, held on 14 February 2026, was honored by the presence of Atthakorn Sirilatthayakorn, Minister of Tourism and Sports, alongside Mr. Han Zhiqiang, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Thailand, who both joined in delivering Chinese New Year blessings. Also in attendance were Thapanee Kiatphaibool, Governor of the Tourism Authority of Thailand (TAT); Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Group; and Mayuree Chaipromprasith, President of Corporate Affairs and Communications at Siam Piwat Co., Ltd., all gathered amidst a grand and festive atmosphere. The event captivated the audience with special performances, including “Chinese New Year Welcome Dance” from China and the “Siam Noble Steed Dance” from Thailand, symbolizing the deep-rooted ties between the two nations. The celebration also featured rare and exquisite Chinese cultural showcases from four renowned troupes originating from Beijing, Chongqing, Henan, and Fujian.

The highly anticipated highlight was the appearance of renowned Chinese artist “Zhu Zhengting,” who joined the festivities to wish fans wealth, happiness, and prosperity for the year ahead, while delivering a special performance as a New Year gift. Additionally, the celebration featured mini-concerts by leading Thai T-Pop artists, including Better Weather and Daou Pittaya, who brought joy and left a lasting impression amidst the spectacular sight of giant auspicious lanterns illuminating the entire of Parc Paragon.

The grand celebration of “Siam Paragon A Prosperous Chinese New Year 2026″ presents a magnificent parade of entertainment to deliver joy and prosperity for the Year
of the Horse, running from today until 18 February 2026. In addition to the spectacular colors of giant auspicious lanterns and exquisite cultural performances from the People’s Republic of China, there are concerts from leading Thai artists performing on a rotating schedule to provide non-stop fun at Parc Paragon and Fashion Hall.

The lineup includes:

  1. 15 February 2026: Enjoy performances by HERS and MEAN Band;
  2. 16 February 2026: Meet 2Ectasy, Jeffy, Kakagoesbackhome, and Slapkiss;
  3. 17 February 2026: Have fun with SERIOUS BACON and Klear;
  4. 18 February 2026: Concluding with Wanyai and OABNITHI.

Simultaneously, Siam Paragon is packed with activities to enhance luck and wealth across various areas, featuring many more highlights such as:

  • Be mesmerized by the art installation “The Fortune Guardians,” depicting a pair of lions in a rhythmic and lively spirit of celebration, created by Suthipa Kamyam, a renowned artist and illustrator who has collaborated with numerous international brands. She has transformed the Jewel zone and Cascade on the M Floor into an artistic landmark for the Chinese New Year, symbolizing the opening of gates to welcome positive energy, inviting luck and joy to flow in and reach all visitors.
  • The Sculpture Exhibition by Ren Zhe: This exhibition features the work of the renowned Chinese sculptor, celebrated for his masterful fusion of Eastern cultural roots with a contemporary global perspective. His powerful sculptures are imbued with dynamic movement, harmoniously communicating Eastern philosophical values through modern materials. The exhibition will be on display from 5 March 2026 at the Glass Wall on the M Floor.
  • NEXTOPIA, the prototype for the world of tomorrow, welcomes the Chinese New Year festival with the heartwarming concept “Let Good Things Grow: Lucky in Love, Lucky in Green.” This initiative invites everyone to share positive energy through self-care, meaningful connection with others, and sustainable growth alongside the planet. Visitors can immerse themselves in contemporary interactive activities and workshops that are engaging and accessible to all ages. We invite you to fulfill your special moments at NEXTOPIA with eco-friendly, heart-healthy menus amidst a romantic atmosphere and melodies —perfect for hanging out until midnight.
  • For those seeking spiritual guidance and an opportunity to give back, the Siriwattana Cheshire Foundation under the Royal Patronage of Her Majesty the Queen presents the “Siriwattana Fortune Telling for the Disabled” charity event. To welcome the Year of the Horse, the event features 40 renowned experts specializing in various disciplines. The event takes place from February 13–20, 2026, at Crystal Court, 2nd Floor (North Zone), Siam Paragon, from 10:30 AM to 7:00 PM. Fortune-telling tickets are available at the venue for 400 THB.

Beyond the exceptional experiences offered across all zones, Siam Paragon delights shoppers with the exclusive “A Prosperous Chinese New Year 2026,” promotion, running from today until 22 February 2026, featuring discounts of up to 50% at participating stores. Shoppers meeting the spending requirements can receive Siam Gift Cards and Paragon Department Store Cash Coupons with a total value of up to THB 1,700. Special privileges are also available for Kasikornbank credit cardholders, while ONESIAM members can earn 4x ONESIAM Coins upon qualifying spend, along with up to 15% credit cashback from participating credit cards, or 0% interest installments for up to 6 months on Siam Gift Card purchases.

Additionally, the special “Lucky with Love” promotion will run from today until 17 February 2026. Shoppers meeting the spending requirements can redeem Siam Gift Cards and Paragon Department Store Cash Coupons with a total value of up to THB 31,800, plus an additional bonus of up to 1,550 ONESIAM Coins when spending via ONESIAM KBank Credit Cards. Furthermore, purchases of THB 2,000 or more will be rewarded with an extra Ang Pao (containing gift vouchers or discount coupons from participating stores). For top spenders at participating luxury brands, an exceptional prize of 2 Baht weight of gold, valued at THB 149,500 (price as of 26 January 2026), will be awarded to those with a cumulative spend of THB 4 million or more.

Experience the grandeur of the Chinese New Year celebration, a spectacular and radiant start to a prosperous Year of the Horse at “Siam Paragon A Prosperous Chinese New Year 2026.“ Join the festivities at Siam Paragon from today until 20 February 2026. For more information, please visit Facebook: SiamParagon

Hashtag: #SiamParagon #SiamParagonCNY2026

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

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

LiveNews: https://livenews.co.nz/2026/02/16/ushering-in-a-year-of-prosperity-celebrating-thailands-chinese-new-year-festival-siam-paragon-joins-forces-with-tat-and-kasikornbank-to-launch-siam-paragon-a-prosperous-chinese-new/

Posted on

Services sector growth slows but stays in expansion

Source: Radio New Zealand

123rf

  • Services sector expands at a slower pace in January
  • Sales activity continues rising, employment falls
  • Proportion of negative comments increases
  • BNZ says economy is on the right track

The services sector recovery slowed to a crawl last month.

The BNZ-BusinessNZ Performance of Services Index (PSI) fell by 0.8 points to 50.9 in January, below its long-term average of 52.8.

A reading above 50 indicates the sector, which accounts for nearly three quarters of the economy, is expanding.

BusinessNZ’s chief executive Katherine Rich said despite the slowdown in January the sector remained on the right side of the ledger after such a lengthy period of contraction.

Activity/sales was the only sub-index to rise in January, with a softer reading for new orders/business, while stocks/inventories, supplier deliveries, and employment moved further into contraction.

The proportion of negative comments climbed to 58.7 percent, with firms reporting low confidence, holiday shutdowns and high operating costs.

BNZ senior economist Doug Steel preferred to concentrate on the direction of travel of the data, rather than one month’s results, saying that “the big question to end 2025 was whether the economy may be turning”.

“Data since then has given us confidence that recent positive momentum can be sustained. The economy is growing.”

The combined PSI/PMI activity indicators are consistent with BNZ’s forecasts of rising GDP this year, according to Steel.

He expected the Reserve Bank to leave interest rates unchanged this week, but a key question for the Reserve Bank would be when does increasing economic growth start translating into higher inflation.

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

LiveNews: https://nz.mil-osi.com/2026/02/16/services-sector-growth-slows-but-stays-in-expansion/

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Storm News – ASB activates support for customers affected by severe weather

Source: ASB


With severe weather affecting regions across North Island, ASB is offering support options for customers who are impacted by the weather and worried about finances.

 

Targeted support for personal, farming and business customers affected by the extreme weather will be offered on a case-by-case basis, with options including:

  • Deferring loan repayments for up to three months or interest only for three months.
  • Immediate consideration of requests for emergency credit card limit increases.
  • Tailored solutions for eligible ASB business and rural customers including access to working capital of up to $100,000.

 

ASB Executive General Manager for Personal Banking Adam Boyd says ASB wants to hear from any affected customers needing financial assistance or extra support.

 

“We recognise this will be a challenging time for some communities. Any personal, business or farming customers who are worried about their finances following the severe weather are encouraged to get in touch. Our teams have practical options available and are here to help.”

 

ASB’s branches in Masterton and North City are closed today. Lambton Quay is open with reduced staff. All other ASB branches remain open, and customers are advised to check ASB’s branch locator tool for their nearest branch and opening hours.

 

To discuss support options, personal customers should call ASB’s contact centre on 0800 803 804. Alternatively, customers can email hardship@asb.co.nz.  Affected ASB business and rural customers should speak to their relationship manager or call 0800 272 287.

 

Further detail on ASB’s extreme weather support is available here: https://www.asb.co.nz/page/extreme-weather-support.html

More information and full terms, fees and charges can be found on ASB’s website.

MIL OSI

LiveNews: https://livenews.co.nz/2026/02/16/storm-news-asb-activates-support-for-customers-affected-by-severe-weather/

Posted on

Storm News – Multi-day Severe Weather Event Continues – MetService

Source: MetService

Covering period of Monday 16th – Tuesday 17th of February

  • Heavy Rain Warnings and Strong Wind Warnings continue for the central and southern North Island and eastern South Island 
  • Heavy Swell Warnings in force for the southeastern coasts of the North Island.

A deluge of rain and relentless winds continue to impact a vast area across the central and eastern North Island and northeastern South Island today (Monday), with large waves affecting the southern and eastern coasts of the North Island. Eyes gradually turn towards the South Island through the day as the moisture-rich low tracks southwards. Heavy Rain is expected to continue through into Tuesday for the eastern South Island.  

What happened overnight Sunday (15th of Feb) into Monday (16th of Feb)?

The tables below show some rainfall accumulations and gust speeds from last night.

– Gisborne, Taupō, Waiouru, Wellington, Whanganui and Kaikōura have already exceeded the amount of rainfall they would typically expect to receive in February.  
– Baring Head Wave Buoy in Wellington Harbour recorded a Significant Wave Height of 7.54 metres at 11:06 pm (Sun). Note, Significant Wave Height is the average height of the highest one-third of waves.
– Mt Kaukau and Wellington Airport measured their strongest winds since June 2013 when they reached 202 km/h and 143 km/h respectively.
– The Kelburn weather station recorded its strongest winds from a southerly direction since June 2013 when a southerly wind of 141 km/h was measured.

What is expected over the next 24 hours?

Heavy Rain and Strong Winds are expected to ease in the central North Island through this (Monday) afternoon and the lower North Island and northeastern South Island this evening. The focus of Heavy Rain moves southwards and is forecast to continue to affect the Canterbury Plains and Banks Peninsula, as well as Dunedin into Tuesday and Warnings and Watches are place.  

MetService meteorologist Alanna Burrows says, ‘Please stay alert and keep up to date with the latest warnings in your area at metservice.com/warnings as well as advice from the Civil Defence and other local agencies.’

For media enquiries or to arrange an interview with one of our meteorologists please call 04 4700 848 or email metcomms@metservice.com

Understanding MetService Severe Weather Warning System

Severe Thunderstorm Warnings (Localised Red Warning) – take cover now:

This warning is a red warning for a localised area.
When extremely severe weather is occurring or will do within the hour.
Severe thunderstorms have the ability to have significant impacts for an area indicated in the warning.
In the event of a Severe Thunderstorm Red Warning: Act now!

Red Warnings are about taking immediate action:

When extremely severe weather is imminent or is occurring
Issued when an event is expected to be among the worst that we get – it will have significant impact and it is possible that a lot of people will be affected
In the event of a Red Warning: Act now!

Orange Warnings are about taking action:

When severe weather is imminent or is occurring
Typically issued 1 – 3 days in advance of potential severe weather
In the event of an Orange Warning: Take action.

Thunderstorm Watch means thunderstorms are possible, be alert and consider action

Show the area that thunderstorms are most likely to occur during the validity period.
Although thunderstorms are often localised, the whole area is on watch as it is difficult to know exactly where the severe thunderstorm will occur within the mapped area.
During a thunderstorm Watch: Stay alert and take action if necessary.

Watches are about being alert:

When severe weather is possible, but not sufficiently imminent or certain for a warning to be issued
Typically issued 1 – 3 days in advance of potential severe weather.
During a Watch: Stay alert

Outlooks are about looking ahead:

To provide advanced information on possible future Watches and/or Warnings
Issued routinely once or twice a day
Recommendation: Plan.

MIL OSI

LiveNews: https://livenews.co.nz/2026/02/16/storm-news-multi-day-severe-weather-event-continues-metservice/

Posted on

A2 Milk posts net profit of over $112 million for six months to December

Source: Radio New Zealand

123RF

Infant formula maker A2 Milk showed a solid lift in first half profit on the back of double digit growth in sales allowing an increase in dividend.

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

  • Net profit $112.1m vs $102.5m
  • Revenue $993.5m vs $836.5m
  • Operating earnings $155m vs $130.9m
  • Net cash $896.9m vs $1.01b
  • Interim dividend 11.5 cents per share vs 8.5 cps
  • Forecast mid-teens revenue growth, increased full year profit

Sales of infant milk formula (IMF) to China led an overall near 19 percent rise in revenue, boosted by its acquisition of a manufacturing plant at Pokeno, and further improvement in the fledgling US market.

“We continue to execute our growth strategy with a focus on maximising opportunities in China infant milk formula, adjacent categories and new markets,” chief executive David Bortolussi said.

“Infant milk formula remains central to our growth strategy and continues to outperform the China market, delivering 13.6 percent year-on-year revenue growth.”

Bortolussi said English label IMF sales were significantly stronger through on-line retail platforms, while there had been a stabilisation of the once important daigou channels – sales by third parties of A2 IMF.

Fresh milk sales improved in Australia and the United States, while the company looked to diversify with new nutritional products.

“Recently launched kids and seniors nutrition products have accelerated our growth in other nutritionals, strengthening our position in these growing and exciting categories.”

Bortolussi said the US operation was close to break even after posting initial big losses and the company hoped to get approval from the Food and Drug Administration to sell infant formula in the US.

He said the Pokeno manufacturing plant acquired last year was securing and diversifying its supply chain last year, and the company was shifting more production to the plant from Synlait Milk’s Canterbury plant.

Bigger sales and profits

Looking forward A2 expected double digit revenue growth, with a full year profit ahead of last year’s $202.9m.

“Our upgraded outlook means we are now on track to achieve our $2 billion medium term sales ambition in FY26, a full year ahead of plan,” Bortolussi said.

The company increased its interim dividend and reaffirmed plans for a $300m special dividend from its $897m cash holdings.

Forsyth Barr senior analyst Matt Montgomerie said the result was strong and better than analysts had been expecting, and noted the company had a track record of exceeding it forecasts.

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

LiveNews: https://nz.mil-osi.com/2026/02/16/a2-milk-posts-net-profit-of-over-112-million-for-six-months-to-december/

Posted on

Contact Energy net profit up 44 percent to $205 million in six months to December

Source: Radio New Zealand

RNZ / Nate McKinnon

Contact Energy’s half-year profit is up 44 percent, despite a 5 percent dip in revenue.

The company has made a first half net profit $205 million in the six months ended December, with underlying profit up 24 percent to half a billion dollars ($500m).

Contact was also in a trading halt until Tuesday, as it looked to raise $525m to advance investment into new battery, solar and geothermal developments.

Key numbers for the six months ended December 2025 compared with a year earlier:

  • Net profit $205.0 vs $142.4m
  • Revenue $1.62b vs $1.71b
  • Underlying profit $500m vs $404m
  • Interim dividend 16 cents a share vs 16 cps

Contact said the improved underlying profit result was driven by a significant lift in renewable generation, with an output of 97 percent renewable energy in the first half (1H26).

“1H26 was transformational, with the completion of the Manawa acquisition and the welcoming of its people and assets to Contact,” Fuge said, referring to last year’s near $2b takeover of the generation company.

“The strong performance of the combined entity set us up well for the year ahead as we take significant steps to execute the Contact31+ strategy.”

As part of that strategy, the company’s planned to raise $525m* with potential to increase its renewable energy generation.

This included funding for development of a Tauhara 2 steamfield, the Glenbrook battery 2.0 and its investment in the Glorit solar farm.

The proceeds were also expected to accelerate development pipeline opportunities.

“We already we have plans for another $2.4b of renewable energy projects, and we will continue to invest in building this country.”

Fuge said the company was expanding to meet future demand.

“Contact is taking significant steps to ensure its readiness to support New Zealand’s growing electricity demand, with 3-5TWh (terawatt hours) of new grid demand expected in the next five years,” Fuge said.

“We’re investing in the infrastructure required to support a more renewable, resilient and affordable energy future for New Zealand.

“I think New Zealand can be incredibly proud of where they’ve got to on the renewable energy transition,” Fuge said.

“And I think for the country, the most important thing is that we continue to build the infrastructure that keeps this country resilient, and as well as that, we look to decarbonise those areas of the economy which are nowhere near 50 percent renewable yet.

“And I think that’s where we now have to turn our focus – really focus on the big things that kind of make a real difference, rather than the last 2 or 3 percent.”

Offers to buy the rest of King Country Energy

Contact also separately announced it had made an offer to purchase the remaining 25 percent of King Country Energy from King Country Trust for $47m, which would give it full ownership if the the regional generator. The payment would be made by way of a new issue of Contact shares to the Trust.

Contact expected to make a full year underlying profit of $965m, with a full year dividend of 40 cents per share.

*Capital raise details

Contact planned to raise $450m with an issue of about 51.4m of new ordinary shares, representing about 5.2 percent of current issued capital, at a placement price of $8.75 per new share, which represented a discount of 7.2 percent of the last traded price, excluding the dividend.

Retail Offer

Contact intended to raise $75m through a non-underwritten retail offer of new shares to eligible existing shareholders in New Zealand and Australia, with the ability to scale applications, or accept over subscriptions at Contact’s.

The new shares to be issued at the lower of the placement price or a 2.5 percent discount to the five-day volume Weighted Average Price over the five-trading day period ending on the 6 March closing date of the offer.

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

LiveNews: https://nz.mil-osi.com/2026/02/16/contact-energy-net-profit-up-44-percent-to-205-million-in-six-months-to-december/

Posted on

Lee Kum Kee Sauce Serves as Platinum Sponsor of the 2026 Chinese New Year Festival & Market Day

Source: Media Outreach

AUCKLAND, NEW ZEALAND – Media OutReach Newswire – 16 February 2026 – Lee Kum Kee Sauce (“Lee Kum Kee”), the global leader of Asian sauces and condiments, marked a successful debut as the Platinum Sponsor of the 2026 Chinese New Year Festival & Market Day in Auckland. Co-hosted by the Auckland Chinese Community Centre (ACCC) and Channel 33, this festival was held on 14 February 2026, in celebration of the upcoming Year of the Horse, bringing together families, community groups, and cultural performers.

The Lee Kum Kee booth draws strong crowds at the 2026 Auckland Chinese New Year Festival & Market Day.

Set against the backdrop of the Auckland Showgrounds, the festival featured over 200 specialist stalls offering traditional Chinese hot delicacies, festive foodstuffs and traditional arts and crafts, attracting over 20,000 visitors. The extensive entertainment programme included lion dances, traditional Chinese songs and performances that brought the spirit of the celebrations to life.

Lee Kum Kee set up a captivating booth experience for festivalgoers of all ages, allowing them to explore an extensive range of sauces through delectable tastings, exclusive promotional sales, and the exciting “Chopstick Lucky Dip” prize-giving game, which drew enthusiastic participation throughout the event.

A visitor tries his luck by drawing chopsticks from the luck dip game.

Gary Hui (left), Business Development Director – Oceania of Lee Kum Kee Sauce, presents a cheque to the ACCC as a Platinum Sponsor of the event.

In serving the local community, Lee Kum Kee aims to bring traditional festive moments to life. Gary Hui, Business Development Director – Oceania of Lee Kum Kee Sauce, remarked, “Spring Festival represents family, togetherness, and the joy of sharing meals. We are proud to support an event that reflects these values. Whether you are discovering new tastes or enjoying familiar favourites, we hope this festival brings joy and connection to all.”

(Fourth from left) Vincent Wong, President – APAC of Lee Kum Kee Sauce, pictured with the New Zealand market team at the booth.

A trusted household name for generations, Lee Kum Kee is renowned for its authentic Asian sauces that inspire home cooking and festive dining. Through on-going community partnerships and cultural celebrations, Lee Kum Kee remains committed to supporting local communities while promoting Chinese culinary culture worldwide through the joy of food.

https://www.LKK.com

Hashtag: #LeeKumKee #LKK

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

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

LiveNews: https://livenews.co.nz/2026/02/16/lee-kum-kee-sauce-serves-as-platinum-sponsor-of-the-2026-chinese-new-year-festival-market-day/