Category: Finance

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Who will be eligible to get an extra $50 a week as part of the fuel crisis package?

Source: Radio New Zealand

The policy was estimated to cost $373 million if it ran for a full year. (File photo) RNZ / Quin Tauetau

The government announced almost 150,000 families will receive an extra $50 a week to help ease the pain caused by soaring petrol prices, but who can expect to see that money show up in their account next month?

Speaking at a media conference on Tuesday, Finance Minister Nicola Willis said the relief would come through a boost to the in-work tax credit – part of the Working for Families scheme.

People would start seeing the full benefit in their bank accounts from 7 April, if they were paid weekly, or 14 April, if they were paid fortnightly.

Who will get $50 a week?

Only low-to-middle-income workers who have children would be eligible for the payments, Willis said.

Finance Minister Nicola Willis making the announcement on Tuesday. Samuel Rillstone/RNZ

It excluded beneficiaries, superannuitants and those without children.

Prime Minister Christopher Luxon and Willis said for beneficiaries, there would be usual increases on April 1 which “working families” did not automatically get.

“And I’d also note, working families face the obligation to get to and from work each day. Beneficiaries do not face that obligation,” Willis said.

“The policy is carefully targeted to families in the squeezed middle – parents who are working hard for a living, are not eligible for main benefits, and yet have modest household incomes with which to support their children,” Willis said.

“We know these families will be hit particularly hard by the global fuel-price shock. We are delivering them timely relief.”

In the current tax year, the cut-off for receiving the tax credit was around $89,000 of annual household income for a family with one child, $112,000 for a family with two children and $135,000 for a family with three children.

Willis said the government could not relieve price pressures for all businesses and families who were feeling price pressures. She said “large, untargeted government spending programmes” could make the situation worse by driving up inflation and debt.

She said while families that missed out would also have welcomed support, the government was “limited by the big increase in debt that occurred in the aftermath of Covid”.

“If it’s not you getting the support today, just know it might be your friend, it might be your family member, it might be the person serving you at the cafe today. Working families who cannot easily avoid higher fuel costs.”

How long will it continue?

The temporary increase would last for as long as one year, or until the price of 91 octane petrol dropped below $3 a litre for four weeks in a row, Willis said.

How do you get it?

Families who were already receiving the in-work tax credit (IWTC) payments, would not need to do anything to receive the money, the government said, with Inland Revenue automatically delivering the increase.

For people who didn’t receive the IWTC payments who thought they might be available, they needed to contact Inland Revenue.

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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/2026/03/24/who-will-be-eligible-to-get-an-extra-50-a-week-as-part-of-the-fuel-crisis-package/

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Green light for Te Awa Lakes

Source: New Zealand Government

Around 1,500 new homes are set to be built as part of the new Te Awa Lakes development thanks to the Government approving the use of an Infrastructure Funding and Financing (IFF) Act Levy for this development, says Housing Minister Chris Bishop.

“To make New Zealand’s housing more affordable, our cities need to grow both up and out – we need bigger cities, and we need more houses. Te Awa Lakes is one of many developments that is making our growth agenda a reality,” Mr Bishop says.

“One factor holding back new housing is infrastructure. We’ve heard loud and clear from developers and councils that there are significant bottlenecks when it comes to the provision of enabling infrastructure, including local government authorities’ financing constraints.

“Councils are responsible for delivering infrastructure such as water and roading but have maximum levels of debt that they’re allowed to take on. These borrowing constraints can delay investment in infrastructure for new, otherwise commercially viable housing developments.

“Developers with viable housing projects should not be held back by this.

“The IFF Act was originally enacted to make it easier for developments to get off the ground through innovative approaches to funding infrastructure that bypass these constraints.

“The model works by establishing a Special Purpose Vehicle (SPV) for a project – separate from council’s balance sheets. The SPV then repays any finance raised by charging a levy to homeowners and landowners who benefit from the infrastructure.

“Essentially, the IFF Act model allows growth to pay for growth.

“The Government has approved an IFF Act levy for Te Awa Lakes, an approximately 2,500-property development northwest of Hamilton. The Levy will fund up to $50 million of water and roading infrastructure, supporting 1,500 of these new properties. The first homes are expected to be delivered as early as 2029.

“This is a fantastic outcome for Hamilton, one of New Zealand’s fastest growing cities.

“The Levy will be administered by Hamilton City Council and will be repaid over a 30-year period beginning 1 July 2027. The levy will be fully disclosed to potential buyers, allowing them to factor it in before making any decisions.

“To date, only two IFF Act Levies have been authorised, and neither were for new housing developments – falling well short of the intent and ambition of this legislation.

“While the Te Awa Lakes development is a good start, we know there are other viable, developer-led projects that are being held back by these constraints.

“That’s why in November 2025, the Coalition Government introduced the IFF Act Amendment Bill, which enhances the Act’s usability, removes unnecessary barriers to uptake, and broadens project eligibility.

“We are making the Act more viable and flexible so developers, councils, and other infrastructure providers can get on with building the infrastructure our growing communities need. We expect to pass this Bill into law before the election.

“In addition to the IFF Act Levy, Te Awa Lakes is also being supported by this Government’s Greenfield Model, which we established in Budget 2025. The Greenfield Model is administered by National Infrastructure Funding and Financing Limited and supports development by lowering financing costs during the project’s construction period – which will ultimately flow through to lower levies for future homeowners.

“This Government is committed to housing growth by freeing up land for development, improving infrastructure funding and financing, and incentivising growth. The IFF Act model is just one of several tools in our Going for Housing Growth toolkit to ensure that infrastructure is not an excuse to prevent growth.”

Notes to Editors

What this means for future buyers:

For people looking to buy in Te Awa Lakes, the levy means part of the cost of the enabling infrastructure is paid gradually over time rather than being built into the upfront purchase price. The levy is transparent and disclosed early and only applies to properties that benefit the most from the new infrastructure. This approach helps brings new housing options to the market at different price points sooner, while ensuring the development has the essential services it needs from day one.

MIL OSI

LiveNews: https://livenews.co.nz/2026/03/24/green-light-for-te-awa-lakes/

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Fuel crisis package: Nearly 150,000 families to receive $50 a week

Source: Radio New Zealand

Prime Minister Christopher Luxon and Finance Minister Nicola Willis announcing the fuel support package on Tuesday. Samuel Rillstone/RNZ

Almost 150,000 families will receive an extra $50 a week for up to a year to help ease the pain from soaring petrol prices driven up by the war in the Middle East.

Speaking at a media conference at the Beehive on Tuesday, Finance Minister Nicola Willis said the relief would come through a boost to the in-work tax credit – part of the Working for Families scheme.

That means only low-to-middle-income workers who have children are eligible. It excludes beneficiaries, superannuitants and those without children.

“The policy is carefully targeted to families in the squeezed middle – parents who are working hard for a living, are not eligible for main benefits, and yet have modest household incomes with which to support their children,” Willis said.

“We know these families will be hit particularly hard by the global fuel-price shock. We are delivering them timely relief.”

The temporary increase would last for as long as one year, or until the price of 91 octane petrol dropped below $3 a litre for four weeks in a row, Willis said.

About 143,000 households would start seeing the full benefit in their bank accounts from 7 April, if they were paid weekly, or 14 April, if they were paid fortnightly. A further 14,000 households would receive the support but at a lesser rate.

In the current tax year, the cut-off for receiving the tax credit was around $89,000 of annual household income for a family with one child, $112,000 for a family with two children and $135,000 for a family with three children.

The policy was estimated to cost $373 million if it ran for a full year, or less if it did not, Willis said.

Willis said that cost would come out of the government’s operating allowance for this year’s Budget, meaning it had already been factored into Treasury’s fiscal forecast.

“Funding the policy this way will not add to forecast debt or inflationary pressures. It is consistent with the government’s fiscal strategy which seeks to balance the books and bend the debt curve down.”

Willis said the government could not relieve price pressures for all businesses and families who were feeling price pressures. She said “large, untargeted government spending programmes” could make the situation worse by driving up inflation and debt.

“The government is conscious that a careless response to this crisis could have long-lasting and painful consequences. We saw this in the aftermath of Covid, where excessive spending more than doubled debt and sent inflation soaring and mortgage rates skyrocketing. Kiwis are still grappling with the effects of that today.”

More to come …

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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/2026/03/24/fuel-crisis-package-nearly-150000-families-to-receive-50-a-week/

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Watch: $50 a week for some families as fuel crisis relief package unveiled

Source: Radio New Zealand

People struggling with fuel costs will be eligible for an extra $50 a week – if they qualify for the in-work tax credit.

Finance Minister Nicola Willis announced the support package at Parliament on Tuesday afternoon.

It would be available from April 7.

Petrol prices in some locations have reached $4 a litre for premium, while diesel is up more than $1 a litre in the past month, Gaspy data shows.

About 20 percent of the world’s supply usually transits through the Strait of Hormuz, which Iran has cut off in retaliation over the US-Israel attack.

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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/2026/03/24/watch-50-a-week-for-some-families-as-fuel-crisis-relief-package-unveiled/

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Watch live: $50 a week for some families as fuel crisis relief package unveiled

Source: Radio New Zealand

People struggling with fuel costs will be eligible for an extra $50 a week – if they qualify for the in-work tax credit.

Finance Minister Nicola Willis announced the support package at Parliament on Tuesday afternoon.

It would be available from April 7 and eligibility would be expanded to an estimated 14,000 families.

Petrol prices in some locations have reached $4 a litre for premium, while diesel is up more than $1 a litre in the past month, Gaspy data shows.

About 20 percent of the world’s supply usually transits through the Strait of Hormuz, which Iran has cut off in retaliation over the US-Israel attack.

RNZ will be streaming the announcement from 12.30pm and blogging the updates as they happen. Refresh the page if you cannot see the video at the top of this page.

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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/2026/03/24/watch-live-50-a-week-for-some-families-as-fuel-crisis-relief-package-unveiled/

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Live: Government’s fuel crisis relief package unveiled

Source: Radio New Zealand

Prime Minister Christopher Luxon and Finance Minister Nicola Willis are set to reveal the details of a support package aimed at helping Kiwis through the ongoing fuel cost crisis.

Willis has hinted it would be targeted towards low- and middle-income families.

There has been speculation it will involve adjustments to Working for Families, including the In-Work and Independent Earner tax credits.

Petrol prices in some locations have reached $4 a litre for premium, while diesel is up more than $1 a litre in the past month, Gaspy data shows.

About 20 percent of the world’s supply usually transits through the Strait of Hormuz, which Iran has cut off in retaliation over the US-Israel attack.

RNZ will be streaming the announcement from 12.30pm and blogging the updates as they happen. Refresh the page if you cannot see the video at the top of this page.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

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

LiveNews: https://livenews.co.nz/2026/03/24/live-governments-fuel-crisis-relief-package-unveiled/

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Fuel prices to stay high for at least 100 days, officials tell Labour

Source: Radio New Zealand

Labour leader Chris Hipkins. RNZ / Mark Papalii

It will be 100 days of hiked up fuel prices at the pump even if the conflict in the Middle East was to end today, according to government officials.

Labour leader Chris Hipkins and finance spokesperson Barbara Edmonds were briefed by officials from the Department of Prime Minister and Cabinet and the mega-ministry, MBIE, on Tuesday morning.

“They indicated to us they’re expecting, and the government is expecting this to go on for months … that the escalated price in fuel is going to go on for months,” Hipkins told media on his way to caucus.

The officials were asked to brief the Opposition and gave a number of 100 days when asked how long the pain at the pump would continue beyond the conflict ending.

Hipkins said there were a number of questions officials were unable to answer.

“They weren’t able to tell us anything about the changes in fuel specifications that they agreed to yesterday, they couldn’t tell us what that actually means in practice, they weren’t able to tell us how much storage there might be available, they weren’t able to tell us what might trigger an increase in the government’s alert level framework,” he said.

“We’re very much relying on publicly available information.”

Hipkins used that as his defence for not having an alternative plan for what Labour would do to help New Zealanders feeling the pinch, if it were in government.

He ruled out any wage subsidy support for employees but has indicated Labour would go further than the government in other support.

However, when pressed on what that means he was unwilling to give details.

The Prime Minister and Finance Minister Nicola Willis are due to announce a “temporary, timely, and targeted” support package at Parliament on Tuesday afternoon.

Later this week Willis is expected to give an update on the national fuel plan and what the various alert levels would practically mean for New Zealanders.

*RNZ will be streaming the fuel support announcement from 12.30pm and blogging the updates as they happen.

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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/2026/03/24/fuel-prices-to-stay-high-for-at-least-100-days-officials-tell-labour/

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Fuel ‘demand restraint’ being considered by government, Shane Jones says

Source: Radio New Zealand

Shane Jones. RNZ / Mark Papalii

The government will be hearing from officials later this week on possible steps towards “demand restraint”, Associate Energy Minister Shane Jones says.

Petrol prices have increased by almost $1 per litre on average in the past month, according to price tracker Gaspy, and diesel even more, as global energy markets react to Iran’s military grip on the Strait of Hormuz following the war launched by the US and Israel.

Around 20 percent of the world’s supply usually transits through the strait.

The government is expected to unveil a support package later on Tuesday which it says will be highly targeted and temporary. Finance Minister Nicola Willis has regularly stated there have been no plans to restrict usage, with stockpiles remaining healthy and supplies still arriving as scheduled.

The latest data from the 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.

Jones, speaking to Morning Report on Tuesday morning, said New Zealand consumed 24 million litres a day – nearly half of which was diesel, a third petrol and the rest aviation fuel.

Towards the end of the week… we’re going to be briefed at a granular level by the officials who are in contact with different industry groups as to the steps we would take if we move towards demand restraint.

“I am focused more on enhancing advancing, broadening and simplifying access to greater levels of supply.”

Reports from importers such as Z Energy were coming in daily, he said.

“We have never once been told that they are unable to deliver, or contracts are being terminated. Naturally, we’re watching that with a pair of hawk eyes. The challenge remains… the access of the refineries owned by Exxon and other such global giants to enough feedstock so they can produce the fuel in suitable quantities.”

Channel Infrastructure chief executive Rob Buchanan and Regional Development Minister Shane Jones atop a 30-million-litre jet fuel tank. RNZ / Peter de Graaf

New Zealand no longer refines crude oil, with the Marsden Point facility shutting down a few years ago.

“The fuel import companies are operating exactly within their statutory envelopes. They are observing what they promised to bring to New Zealand.

“If we are to increase and store more diesel fuel in New Zealand, we need to increase the storage. And I keep saying, the reason we can’t do that at scale is because they closed down the refinery, and I don’t care if you get annoyed with me saying that. I want New Zealanders to bear that in mind. This is the consequence of closing down the refinery.”

Jones has falsely claimed the Labour government closed the refinery down, repeating that claim again on Morning Report. Refining NZ (now Channel Infrastructure), a private company, made the call to end refining at the Marsden Point site and transition to being an import-only hub. The government considered stepping in, but decided against it, with advice to ministers being that risks to fuel security were “very low”, because any event that cut off the supply of refined oil would likely cut off crude as well.

Jones said the government was working with Channel to “enhance” how much product could be stored at Marsden.

“That will give us additional diesel storage. However, I don’t want any Kiwi this morning to doubt whether there’s diesel in the country on its way. There certainly is.”

Speaking to Morning Report after Jones, Labour leader Chris Hipkins said it was a “private decision made by the fuel industry” that would not have hindered New Zealand’s fuel security.

“Marsden Point was refining crude oil that was imported from overseas, so the same supply constraints would be hitting us now whether MarsdenPoint was operating or not.”

He suggested it was ironic that coalition MPs were criticising Labour for having spent “too much money” during the Covid response, yet were now saying “we should have kept a refinery that was going out of business because it was obsolete technology and because it wasn’t economic”.

Asked whether the crisis had shifted his thinking on electrification and moving away from fossil fuels, Jones said it was a “fair point” to stay open-minded.

“There is a source of hydrogen energy in New Zealand. It’s called white hydrogen. It’s called natural occurring hydrogen. I met last week with the Auckland University who are doing extraordinary work in Wairarapa, and they believe they’ve tapped into a vein of infinite power of a hydrogen character, of all places in the hills and the valleys of the Wairarapa coast.

“So I think it’s a fair point that you’re making that we need to be open-minded. And then I say to Kiwis, OK, how do you imagine we’re going to pay for it? To do that, certain things, if we are to underwrite this electrification journey, will have to go by the way.

“And that’s why we have an election. No doubt people will be contesting all of those ideas.”

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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/2026/03/24/fuel-demand-restraint-being-considered-by-government-shane-jones-says/

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Government set to unveil details of fuel support package

Source: Radio New Zealand

Cabinet has signed off on what support the government will offer in the face of rising fuel costs. RNZ / Dan Cook

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.

Finance Minister Nicola Willis. RNZ / Samuel Rillstone

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.

The Citizens Advice Bureau says people are going to need significant support as fuel prices continue to rise. RNZ / Mark Papalii

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.”

Infometrics chief executive and principal economist Brad Olsen. RNZ / Samuel Rillstone

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.

Labour leader Chris Hipkins. RNZ / Mark Papalii

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

LiveNews: https://livenews.co.nz/2026/03/24/government-set-to-unveil-details-of-fuel-support-package/

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DFI Reinforces Commitment to People, Products and Planet in 2025 Sustainability Disclosure

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.

DFI Retail Group Sustainability Disclosure 2025

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.

LiveNews: https://livenews.co.nz/2026/03/23/dfi-reinforces-commitment-to-people-products-and-planet-in-2025-sustainability-disclosure/

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Man arrested following park assault

Source: New Zealand Police

Please attribute to Detective Senior Sergeant Paula Drewery, Taranaki Area Investigations Manager:

Police investigating a serious assault in King Edward Park in Stratford on Friday evening have arrested one person.

A 23-year-old man will appear in the Hawera District Court today on wounding with intent to cause grievous bodily harm.

Police previously asked the public for assistance to locate the offender, following a person being found seriously assaulted by an unknown man at the park.

They were transported to hospital with serious injuries and are thankfully recovering.

Police are grateful for the community’s assistance. It has been a fantastic response to be provided with information that helped investigative staff to quickly apprehend the offender.

Police want to reassure the community that this was an isolated incident and there is no ongoing risk to the public.

ENDS

Issued by Police Media Centre

MIL OSI

LiveNews: https://livenews.co.nz/2026/03/23/man-arrested-following-park-assault/

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Live: Oil prices rise as fall out from Middle East crisis continues

Source: Radio New Zealand

Oil prices have risen as the fall out continues from the Middle East crisis.

Brent Crude oil rose about US$1 to be just above US$113 a barrel in early Asia trade.

The New Zealand share market has retreated sharply, with the benchmark NZX50 down 1.4 percent shortly after 11am.

Meanwhile, Finance Minister Nicola Willis said on Sunday New Zealand’s fuels stocks remain at seven weeks’ worth, including stockpiles.

Fuel price app Gaspy has altered features in an attempt to avoid errors and deliberate misinformation about current prices of petrol.

And the government has announced a $50 million plan to double electric EV chargers in New Zealand.

Follow all the updates in our live blog at the top of this page.

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

LiveNews: https://livenews.co.nz/2026/03/23/live-oil-prices-rise-as-fall-out-from-middle-east-crisis-continues/

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Greens Offer Votes To National Party For Immediate Relief In Fossil Fuel Crisis

Source: Green Party

The Green Party is offering its votes to the National Party to get on with passing a sensible and urgent fossil fuel crisis relief package. With the Greens’ and National’s combined 63 votes, no other political party’s support is necessary.

The Green’s proposed package includes:

  • Making public transport free for users;
  • A Relief Payment for low income people or people who live rurally to help meet additional transport costs;
  • A Windfall Profits Tax to prevent corporate price gouging;
  • Reversing changes to school bus eligibility and routes, and temporary expansion of eligibility for school buses;
  • Reversing the Government’s intended reduction in Total Mobility Support for disabled people; and
  • Increase mileage rates to the 23,000 care and support workers to meet their actual travel costs.

“We agree with the Prime Minister that hope is not a plan. That’s why the Green Party is presenting our plan to support our country through the fossil fuel crisis, targeting support to those who need it most, and reducing demand for petrol,” said Green Party Co-leader Chlöe Swarbrick.

“New Zealanders expect politicians to do everything we can to support people through this immediate crisis, and to minimise future vulnerability by reducing fossil fuel dependence. That’s why we have written to the Prime Minister and Minister of Finance offering our votes to make these obvious solutions a reality, urgently.

“Free public transport is a no-brainer. We remove the barriers to access, reduce congestion, and free up fuel supply for those who don’t have a public transport option.

“If the Government means what it says about ‘preparing for the worst’, now is the time to pull the plug on exorbitantly expensive, low-value projects like the Roads of National Significance and LNG import facility. The Green Party is ready, willing and able to provide the support necessary to invest in building real resilience through renewable energy generation.

“The Green Party’s Fossil Fuel Crisis Relief Payment would be targeted at adults earning under the median income and also people living rurally, where public transport is not available,” said Green Party Co-leader Marama Davidson.

“The Fossil Fuel Crisis Relief Payment will put money in the pockets of those being squeezed the hardest and those with few other transport options, easing stretched household budgets right now.”

“Petrol companies shouldn’t be unreasonably profiting from this or any economic crisis. A windfall tax would mean any exorbitant profits are redirected to our communities.”

“We need to ensure that corporations aren’t profiting while people in our communities who are struggling or have no alternative transport options pay the price. The Green’s package will provide immediate help for those who need it, reduce demand for petrol, and keep a check on corporate greed,” said Davidson.

Read the letter here.

MIL OSI

LiveNews: https://livenews.co.nz/2026/03/23/greens-offer-votes-to-national-party-for-immediate-relief-in-fossil-fuel-crisis/

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Charging ahead: 2,500+ EV chargers on the way

Source: New Zealand Government

The number of electric vehicle (EV) public chargers around New Zealand will more than double thanks to $52.7 million in zero-interest loans from the Government and co-investment from ChargeNet and Meridian, Transport Minister Chris Bishop and Energy & Climate Change Minister Simon Watts say.

“Many New Zealanders have thought about getting an EV, even before the fuel challenges we’re currently facing. But research shows that the lack of public chargers is holding many back from making the switch to an EV,” Mr Bishop says.

“The private sector is reluctant to invest in charging infrastructure until there’s sufficient demand, but demand won’t grow until the lack of public chargers stops putting buyers off. Just as the previous National-led Government did with the ultrafast broadband network rollout, we’re taking action to break that deadlock.”

ChargeNet and Meridian Energy were selected through a contestable, value-for-money bid process. Both companies are co-investing a combined $60 million of their own capital alongside the Government loans, taking the total investment to over $110 million.

“Concessionary loans bring forward private investment in public EV charging infrastructure by lowering the cost of capital, while keeping the taxpayer’s contribution to a minimum,” Mr Bishop says.

“In this case, the average loan per charge point is $20,000, but once repayments are factored in, the net cost to the Crown is around $10,000 per charger, roughly a quarter of what a direct grant would cost.

“We’re also changing our planning rules to make the installation of public EV chargers a permitted activity under the RMA, meaning in most cases no consent is required – another factor that will help to speed up delivery.”

The 2,574 new charge points include 1,374 DC fast chargers and 1,200 AC chargers. DC fast chargers deliver power directly to the battery and can charge a car in 20 to 60 minutes, making them suited to highways and destinations where people stop briefly. AC chargers are slower and better suited to places where cars are parked for longer periods, like shopping centres, workplaces, and residential areas.

“About half the new chargers will be spread across Auckland, Hamilton, Tauranga, the Wellington region, Christchurch, and Dunedin, with the other half throughout the regions, so drivers outside the main centres will benefit too,” Mr Bishop says.

“New Zealand currently has a bit over 1,800 public charge points, which is among the lowest charger-to-EV ratios in the OECD. Another 161 charge points are also in progress. Combined with the investment being announced today, the national total will be around 4,550. The Government is working towards 10,000 charge points by 2030, roughly one for every 40 EVs.”

“Owning an EV in New Zealand already makes strong financial sense. Electricity is cheaper than petrol and almost entirely generated from renewable sources like wind, geothermal, solar, and hydro,” Mr Watts says. 

“Kiwis are already making the shift to electric vehicles as a cost-of-living choice, and we have seen uptake grow. In February 2026, EV sales were up 10.5 per cent on the same month last year – and anecdotal evidence suggests even greater interest over the past couple of weeks as conflict in the Middle East has seen fuel prices increase.

“At a time when global fuel markets are volatile, that matters. 

“A better charging network means more New Zealanders can take advantage of it, and that’s good for household budgets and our emissions profile alike. EVs produce at least 60 percent fewer lifecycle emissions than petrol vehicles.”

Notes to editor: 

  • Concessionary loans are loans at below-market interest rates (in this case, zero-interest) which incentivise charge point operators to invest in charging infrastructure ahead of demand. The repaid capital can be used for new loans if co-investment is still required or allocated to other initiatives.
  • The loans are administered by National Infrastructure Funding and Financing (NIFFCo), the successor organisation to Crown Infrastructure Partners (which delivered Ultra-Fast Broadband). EECA will provide assistance as required.
  • The Government has allocated $66.145m of capital funding for concessionary loans.
  • The concessionary loans will fund up to 50 percent of project capital costs, have a zero percent interest rate, and a maximum tenure of 13 years. The loans have been awarded through a contestable co-investment bid process.
  • Applications were assessed against value-for-money criteria to ensure loans are awarded to projects of greatest benefit and that New Zealand’s EV charging network grows at pace.
  • Consumer monitoring by EECA consistently shows that some of the main perceived disadvantages of EVs include that the driving range is not suitable for long distance travel, and that there are not enough public chargers available. Increasing the availability of public charging infrastructure gives drivers the confidence to switch to an electric vehicle. See EECA’s EV Charging research October 2025 update – EV Charging Research 

MIL OSI

LiveNews: https://livenews.co.nz/2026/03/23/charging-ahead-2500-ev-chargers-on-the-way/

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Live: Fuel price fears grow as Trump and Iran trade threats

Source: Radio New Zealand

US President Donald Trump has vowed to ‘obliterate’ Iran energy facilities if it doesn’t’ open the Strait of Hormuz.

The threat has added to worries in global markets.

Meanwhile, Finance Minister Nicola Willis said on Sunday New Zealand’s fuels stocks remain at seven weeks’ worth, including stockpiles.

Fuel price app Gaspy has altered features in an attempt to avoid errors and deliberate misinformation about current prices of petrol.

And the government has announced a $50 million plan to double electric EV chargers in New Zealand.

Follow all the updates in our live blog at the top of this page.

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

LiveNews: https://livenews.co.nz/2026/03/23/live-fuel-price-fears-grow-as-trump-and-iran-trade-threats/

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Watch: Nicola Willis visits fuel import terminal at Marsden Point

Source: Radio New Zealand

Finance Minister Nicola Willis on Sunday afternoon will be visiting Channel Infrastructure’s Marsden Point Energy Precinct.

The visit comes amid fears of an energy crisis, with the global price of oil skyrocketing in the wake of the US and Israel’s attack on Iran.

Iran’s response has included threatening ships passing through the Strait of Hormuz, a key channel for the transportation of fuel exports from the Middle East, and strikes on US-friendly neighbours’ energy infrastructure.

Marsden Point is New Zealand’s fuel import terminal, and until 2022 also had an oil refining facility. New Zealand now relies on imported refined fuels, without a facility to refine raw products.

Senior coalition politicians are at odds over whether the facility should have been closed.

Marsden Point. RNZ / Peter de Graaf

Willis told Morning Report on Friday price increases were extremely tough and affecting all New Zealanders, but some were feeling it more than others.

“I can’t solve the pain for everyone. The cost of doing that would potentially involve levels of spending that would drive inflation higher, and certainly would put us in a more fragile position in terms of debt.

“So what we are looking at, is there something very targeted and temporary that we could do to assist those workers in particular who are most acutely impacted by these household budget squeezes?”

IRD and Treasury have been asked to come up with a package that could be implemented with urgency ahead of the Budget.

Willis will talk to the media at 2pm – watch it live here.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

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

LiveNews: https://livenews.co.nz/2026/03/22/watch-nicola-willis-visits-fuel-import-terminal-at-marsden-point/

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Fitch outlook reaffirms case for fiscal discipline

Source: New Zealand Government

Global economic volatility makes the Government’s programme of fiscal consolidation more important than ever, Finance Minister Nicola Willis says.

“Fitch Rating’s decision to place New Zealand’s AA+ long-term credit rating on negative outlook is a reminder of why fiscal discipline is so important. 

“Over the past two years, this Government has pursued a balanced fiscal strategy – lifting investment in frontline services like health, education, and law and order, while charting a credible path back to surplus. That has required hard decisions: $43 billion of savings across the last two Budgets, with further savings planned in Budget 2026.

“The Government remains committed to achieving its three fiscal goals – reducing spending as a proportion of GDP, returning the headline operating balance measure to surplus and bending the debt curve down. 

“Treasury’s preliminary economic forecasts — prepared before the latest volatility in the Middle East — showed New Zealand’s economic recovery gaining momentum, with growth of around 3 per cent by early 2027 and a corresponding improvement in revenue that would support a more positive fiscal outlook

“Those forecasts will now need to be revised. Energy market disruption adds real uncertainty, and that is precisely why careless spending is off the table.

“My focus remains on a balanced approach: investing in frontline services like health, education and law and order and keeping debt at prudent levels.

“Increasing borrowing, spending and debt, as some political parties have proposed, would damage New Zealand’s reputation for responsible fiscal management and lead to increased borrowing costs for all Kiwis.”

 

MIL OSI

LiveNews: https://livenews.co.nz/2026/03/21/fitch-outlook-reaffirms-case-for-fiscal-discipline/

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Wealth for Good in Hong Kong Summit to be held next Tuesday to chart new milestone in global family office succession

Source: Media Outreach

HONG KONG SAR – Media OutReach Newswire – 20 March 2026 – The Government announced that the Wealth for Good in Hong Kong (WGHK) Summit will return next Tuesday (March 24). Under the theme “Building Lasting Legacies”, this year’s summit in its fourth edition highlights the wave brought by continuous growth of family office assets and generational wealth transition in recent years. In addition to serving as an exchange platform for overseas, Mainland and local family office decision-makers and successors, the WGHK Summit is also an occasion for them to experience firsthand how Hong Kong leverages its solid financial foundation to facilitate wealth succession and value appreciation.

Co-organised by the Financial Services and the Treasury Bureau and Invest Hong Kong (InvestHK), the WGHK Summit will once again convene influential family office decision-makers and successors from around the world in Hong Kong. Participants from Asia, Europe, the Americas, Oceania, the Middle East, and Africa will join attendees from the Chinese Mainland and Hong Kong in insightful sharing. This year’s summit is going to showcase Hong Kong’s profound strengths and development potential through three core themes: “Strategic Asset Management for Family Legacy”, “Cultural Value Foundation for a Thriving Market”, and “Smart Tech Innovation Driving Capital Appreciation”. A number of heavyweight speakers will inspire the participants with their visionary thinking on the future of the family office ecosystem.

Nowadays, quite a number of family offices are deepening their philanthropic endeavours. Taking advantage of Hong Kong’s diverse and vibrant philanthropic ecosystem, a special fireside chat on “Sports and Philanthropy” is set for the summit to explore how sports and philanthropy can work together to create positive value for society.

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “The global landscape is evolving fast these days with geopolitics getting more complex. There has never been a better time for hosting the WGHK Summit than now to give family offices looking for diversified allocation and risk dispersion an occasion to connect with each other and explore opportunities. Hong Kong offers a highly favourable development environment with numerous potential and predictability for family offices, underpinned by our diversified international financial markets coupled with resilience, robust and transparent legal and tax systems, world-class financial and professional services, and well-developed ecosystems for philanthropy, arts, and innovation. The WGHK Summit is a flagship event hosted by our Government to showcase to the global wealth owners the unique advantages of this city. We will continue to consolidate Hong Kong’s leading position as a family wealth hub in the Asia-Pacific region, and adopt a multipronged approach to keep fostering the development of the family office sector through measures in areas such as tax concessions, talent attraction, investment facilitation and building of an ecosystem. All these will make Hong Kong even more attractive in all aspects to global family capital, positioning this city as the most preferred platform for ultra-high-net-worth families worldwide to manage their cross-border wealth.”

The Director-General of Investment Promotion at InvestHK, Ms Alpha Lau, noted, “According to the latest market study, the number of single-family offices in Hong Kong surpassed 3 380 by the end of 2025, reflecting a growth of over 25 per cent in two years – a testament to Hong Kong’s attractiveness as a global family office hub. The WGHK Summit serves as a pivotal platform for Hong Kong to deepen connections with the global family office community and foster cross-border collaboration. Against the backdrop of increasing trend of reallocation of global capital toward Asia, alongside rising trade protectionism and geopolitical uncertainty, Hong Kong will continue to leverage its unique advantage of enjoying strong support from the motherland and being closely connected to the world. We will provide global families with a predictable, one-stop environment for establishing a presence and operating in Hong Kong, helping them capture growth opportunities on the Chinese Mainland and in Asia, and steadily advancing long-term investment and multi-generational succession through diversified asset allocation and professional risk management.”

The WGHK Summit will feature a distinguished line-up of guest speakers:

  • Dr Han Bicheng – Founder and Chief Executive Officer (CEO), BrainCo
  • Mr Maximilian Kaufmann – Representative of Major Shareholder of Leica Camera AG
  • Mr William Heinecke – Founder and Chairman, Minor International PCL
  • Mr François Pictet – Managing Partner, Pictet Group
  • Mr Yao Ming – Founder of Yao Foundation; Former Chairman of Chinese Basketball Association; NBA All-Star
  • Mr Qiu Heng – Chief Marketing Officer, AgiBot
  • Ms Irene Lee – Chairman, Hysan Development Company Limited
  • Dr Ren Feng – Co-CEO and Chief Scientific Officer, Insilico Medicine
  • Mr Wesley Ng – CEO and Co-founder, CASETiFY
  • Mr Winfried Engelbrecht-Bresges – CEO, The Hong Kong Jockey Club; and
  • Mr Michael Wilding – Group Chief Operating Officer, ZURU Group

Beyond the WGHK Summit, the Milken Institute and Bloomberg LP (Bloomberg) will also host the Global Investors’ Symposium (March 23) and the Family Office Forum (March 25) respectively in the same week, focusing on wealth management and global investment trends. The synergy generated by these three major forums will showcase Hong Kong’s unique charm in the family office landscape to the fullest to international capital, allowing participants to interact, exchange ideas, and explore opportunities together in Hong Kong.

Hashtag: #WGHK

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/2026/03/21/wealth-for-good-in-hong-kong-summit-to-be-held-next-tuesday-to-chart-new-milestone-in-global-family-office-succession/

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Phuket Sees Increasing Number of Americans Looking to Buy Property for Lifestyle and Investment

Source: Media Outreach

Growing international demand, strengthened long-haul connectivity, and the continued evolution ofLaguna Phuket are reinforcing Thailand’s largest island as a secure, globally connected and structurally mature place to live and invest.

PHUKET, THAILAND – Media OutReach Newswire – 20 March 2026 – Phuket’s transformation from a leisure destination into an established international residential market continues to gain momentum, supported by expanding air connectivity and rising interest from globally mobile investors and families.

The island has seen steady growth in long-term residents and international property buyers, reflecting a broader shift toward geographic diversification and lifestyle-driven asset allocation. Increasingly, Americans are exploring markets that combine quality of life with infrastructure reliability and clear long-term residency pathways.

Compared with many major U.S. coastal cities, Phuket offers significantly lower living costs while maintaining international-standard healthcare, hospitality infrastructure and strong global connectivity.

Thailand welcomed more than 35 million international visitors in 2025, including approximately 1.2 million from the United States. Long-haul arrivals exceeded 11 million, up 13% year-on-year and generating approximately 668 billion baht in tourism revenue, underscoring continued international confidence.

Thailand is accessible from the U.S. via major hubs including Tokyo, Seoul, Hong Kong, Singapore and Bangkok, with travel times comparable to many trans-Pacific routes. Expanding airline networks are further improving access through key Asian gateways.

Improved connectivity is driving interest in extended stays, remote work flexibility and international property ownership, with more visitors exploring long-term residency alongside leisure travel.

Phuket offers international-standard healthcare, leading international schools, yacht marinas, championship golf courses, premium retail and dining, and reliable high-speed connectivity. The island combines resort-style living with the infrastructure required for full-time residence.

Industry research ranks Phuket among the world’s leading destinations for branded residences, alongside Dubai, Miami and New York. Foreign buyers account for more than 60% of prime condominium purchases, reflecting broad global participation. Direct air links to more than 80 cities reinforce integration into global travel networks.

Thailand’s long-term visa framework provides renewable pathways for retirees, investors, entrepreneurs and remote professionals. For buyers of select premium residences, Banyan Group facilitates Thailand Elite long-term residency visas, aligning property ownership with multi-year entry privileges.

At the centre of this evolution is Laguna Phuket, developed by Banyan Group. Over 35 years it has grown into one of Asia’s most established integrated resort and residential communities. Spanning more than 1,000 acres along Bang Tao Beach, it includes six hotels, an award-winning golf course, wellness facilities, RAVA beach club and more than 3,000 branded residences. Approximately 5,000 additional residences are planned across Laguna Phuket and neighbouring Laguna Lakelands.

Banyan Group Residences, ranked fifth worldwide and number one in Asia in branded residences, plans to launch approximately US$1 billion in new residential projects in Phuket.

Phuket today represents more than a resort destination. It has matured into a stable, internationally integrated residential market offering infrastructure reliability and long-term growth potential for American families and investors seeking global diversification.

Hashtag: #BanyanGroup

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/2026/03/21/phuket-sees-increasing-number-of-americans-looking-to-buy-property-for-lifestyle-and-investment/

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China’s 2026 Government Work Report Indicates a New Cycle of Quality Enhancement for Commercial Real Estate Stock

Source: Media Outreach

Cushman & Wakefield Interpretation Report Highlights Eight Impact Areas for Real Estate Market

HONG KONG SAR – Media OutReach Newswire – 20 March 2026 – Global real estate services firm Cushman & Wakefield has released its China’s Two Sessions 2026: Interpreting the Government Work Report publication. Against a backdrop of increasingly complex domestic and international conditions, the 2026 government work report outlines more flexible and adaptive targets for national economic development. These policy directions will have a profound influence on the real estate sector. The market’s transition from focusing on incremental expansion to revitalizing and optimizing existing assets — combined with the accelerating integration of artificial intelligence across industries —will reshape market structures, redefine asset values, and reconfigure spatial development patterns in far-reaching ways.

Macroeconomic Stability Strengthens the Foundation for Commercial Real Estate Stabilization

China’s core economic targets for 2026 are clearly defined, with GDP growth set between 4.5%–5%, balancing the dual objectives of stabilizing growth and adjusting structure. This forms a strong macro foundation for the stabilization and gradual recovery of the commercial real estate sector. Between 2024 and 2025, GDP growth remained steady at around 5.0%. For 2026, the fiscal deficit ratio is maintained at a relatively high 4.0%, with RMB4.4 trillion in local special‑purpose bonds. The quota for ultra‑long‑term special treasury bonds is further expanded to RMB1.3 trillion. Coordinated fiscal and monetary policies will continue to support leasing demand recovery and improved business sentiment in the commercial property market.

Accelerated Industry Transformation Sees Quality Enhancement of Existing Assets Become the Core Theme

The report emphasizes a three‑pronged approach of “city‑specific policies to control new supply, reduce inventory, and improve quality”, while encouraging diverse channels to revitalize existing housing stock and advancing the construction of “good homes.” This marks an accelerated shift from incremental expansion to quality enhancement of existing assets. In 2024, China’s real estate value‑added as a proportion of GDP was just 6.3%, far below the 12.56% average of developed economies. This reflects a structural imbalance characterized by heavy investment in development and insufficient focus on services and leasing. The ongoing transition will make asset management, property services, and leasing operations increasingly central to asset valuation.

Consumption‑Driven Momentum Creates a New Growth Window for Retail Properties

Consumption‑boosting policies are injecting new vitality into the retail property market. The government work report allocates RMB250 billion of ultra‑long‑term special treasury bonds to support product upgrades and replacement, complemented by RMB100 billion in coordinated fiscal‑financial funds — creating a RMB350 billion consumption stimulus package. In 2025, China’s total retail sales of consumer goods exceeded RMB50 trillion, with per‑capita GDP reaching USD13,953, signaling a critical inflection point where service‑oriented consumption accelerates. With services currently accounting for just 46.1% of consumption, there remains significant room for growth. Policies promoting “high‑quality service consumption” and “new consumption scenarios,” combined with the promotion of staggered school holidays in spring and autumn, will create opportunities for high‑quality shopping centers focused on experiential and social retail formats.

AI‑Powered Intelligent Economy Drives an Upgrade in Office Market Demand

The rapid evolution of the intelligent economy is reshaping office market demand. The work report calls for expansion of “AI+,” wider deployment of intelligent agents, and accelerated development of large‑scale computing clusters, indicating the transition of AI into commercialized and scaled applications. In 2025, China’s core digital economy industries accounted for more than 10.5% of GDP, with the target set at 12.5% during the 15th Five‑Year Plan. AI‑related companies are expected to become key new leasing drivers in 2026. This will also stimulate a fresh investment cycle for data centers and industrial parks, with core computing hub cities — in the Beijing‑Tianjin‑Hebei region, Yangtze River Delta, and the Guangdong‑Hong Kong‑Macao Greater Bay Area — set to benefit first.

Capital Market Reforms Expand, Enabling a Full “Investment–Financing–Management–Exit” Cycle for Commercial Real Estate

Capital market reforms continue to support expansion in commercial real estate investment. The work report calls for deepened reform of comprehensive investment and financing mechanisms, expanded exit channels for private equity and venture capital, and accelerated growth of the public REITs market. By 2025, China’s public REITs issuance exceeded RMB210 billion, making it the largest REITs market in Asia. In 2026, commercial public REITs enter their first year of development, with pilots extended to hotels and commercial offices. This establishes a “dual‑engine” landscape of “infrastructure + commercial real estate” and enables a more complete investment‑financing‑management‑exit cycle

Further Opening‑Up Boosts Cross‑Border Logistics and Foreign Investment Demand

China’s opening‑up objectives in 2026 feature two core characteristics: expanding services sector openness to attract foreign investment, and promoting standardized, high‑quality development of cross‑border e‑commerce. In 2025, China’s cross‑border e‑commerce imports and exports totaled RMB2.75 trillion, with growth outpacing overall trade for the fourth consecutive year. The sector’s demand for high‑specification warehouses — characterized by high density and rapid turnover —continues to rise. Cushman & Wakefield data shows that the warehouse market is experiencing volume growth alongside price adjustment, with notable regional differences. As cross‑border e‑commerce becomes more regulated, and cold‑chain logistics demand continues to expand, green‑certified, intelligent high‑spec warehouses are expected to gain a competitive advantage.

Advancement of New Urbanization Brings Opportunities for Urban Clusters and Urban Renewal

A notable highlight among 2026 urbanization policies is the first‑ever proposal to build “innovation‑driven industrial communities and business communities.” This concept breaks the traditional boundary between industrial parks and business districts, fostering integrated complexes that combine office, commercial, and residential functions. The report also supports the development of world‑class city clusters in the Beijing‑Tianjin‑Hebei region, the Yangtze River Delta, and the Greater Bay Area, while enhancing the dual‑city Chengdu‑Chongqing Economic Circle and accelerating growth in the middle‑Yangtze city cluster — further intensifying regional differentiation in the commercial property market. Urban renewal and revitalization of existing stock assets are core pillars of the current urbanization strategy. Policies promoting the reuse of existing land and idle buildings align closely with efforts to revitalize existing housing stock. For owners and operators of prime urban assets, regeneration projects offer strategic opportunities for repositioning and value enhancement.

Green Transformation Prompts Sustainability Certifications to Become a Key Competitive Advantage

The work report dedicates a standalone section to the green transition, announcing dual controls on total carbon emissions and intensity, as well as new policy tools such as zero‑carbon parks and a national low‑carbon transition fund. In 2025, China’s national carbon market saw 235 million tons of allowances traded, with transaction value reaching RMB14.63 billion, up approximately 24% year‑on‑year. Carbon costs have become an increasingly important factor in corporate leasing and location decisions. With 97.9% of newly built urban buildings in 2024 meeting green standards, green retrofits of existing buildings are gaining momentum. Commercial properties certified under LEED, WELL, and China’s Green Building Label standard enjoy notable advantages in rental premiums and tenant attraction.

Sabrina Wei, Chief Policy Analyst and Head of Research, North China, Cushman & Wakefield, said, “The 2026 government work report outlines a clear development vision for commercial real estate characterized by macroeconomic stability, targeted policies, and structural transformation. A GDP growth rate of 4.5%-5% will provide market stability, a RMB350 billion consumption stimulus will activate demand for retail properties, “AI+” will reshape the office market; capital market reforms and public REITs will enable a full “Investment–Financing–Management–Exit” cycle, urban renewal will unlock values of existing assets, and green certification will define new competitiveness for the industry. As the real estate industry transitions from a construction‑focused model to one centered on operations and services, institutions with strong capabilities in asset management and high‑quality operational service delivery will be best positioned to capture the emerging opportunities of this transformative new cycle.”

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