Waitematā Police is seeking information about a fire at a Rānui house in the early hours of the morning.
Emergency services attended Vino Cina Heights after midnight, with the roof fully alight.
A scene examination was completed today at the address alongside a fire investigator.
“We believe this fire has been caused by a flare, which is commonly used by boaties and one that launches a projectile,” acting Detective Inspector Megan Goldie, Waitematā CIB says.
“Based on enquiries so far it appears this is an accidental fire as a result of reckless actions.”
It’s by good fortune only that Police are not dealing with fatalities.
“The house is completely uninhabitable and has been extensively damaged.”
Acting Detective Inspector Goldie says Police is seeking information about two people seen running away from the area.
“As a result of an area canvass this morning, residents have reported seeing two people running away after a loud bang was heard.”
A short time later the fire began.
Acting Detective Inspector Goldie says: “If you have any information, we need to hear from you.
“I would also call on those people who are involved to do the right thing and own up to what has happened.”
Anyone with further information to assist us should contact 105 using the reference number 260211/6037.
Information can also be provided anonymously via Crime Stoppers on 0800 555 111.
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 11 February 2026 – XTransfer, the world’s leading B2B cross-border financial platform, was honoured to be invited to join the Malaysia Economic Forum (Forum Ekonomi Malaysia 2026).Bill Deng, Founder and CEO of XTransfer, shared insights on how Malaysia can accelerate technology application and innovation to help micro, small and medium enterprises (MSMEs) scale exports under the 13th Malaysia Plan (13MP), during FEM 2026’s panel discussion, “Made by Malaysia: Accelerating Technology Applications & Innovation”.
Bill Deng (second from the right), Founder and CEO of XTransfer, joins as a speaker at Forum Ekonomi Malaysia 2026.
Bill was honoured to join YB Tuan Liew Chin Tong, Deputy Minister of Finance of Malaysia, and Mr Ooi Ching Liang, Senior Director of Engineering at SkyeChip, for a discussion focused on strengthening high-growth, high-value industries, advancing R&D commercialisation, increasing productivity and competitiveness, and supporting MSMEs in global value chains.
Drawing on XTransfer’s work with MSMEs across markets, Bill noted that many Malaysian businesses are “able to export,” but face persistent barriers to scaling exports. The most common issues are trust, compliance, and scale, which often surface as payment delays, repeated documentation requests, FX uncertainty, and working capital pressure as orders grow.
“For B2B SMEs in foreign trade, the biggest constraint isn’t demand. It’s the operational complexity behind cross-border payments, foreign exchange, and compliance,” Bill said. “In particular, AML requirements can be difficult for both traditional banks and SMEs to manage efficiently, creating friction that slows down legitimate trade.”
Bill highlighted a structural shift in global trade flows from a single dominant corridor to non-U.S., intra-Asia, and broader South–South routes. This trend is increasingly clear in real SME transaction patterns. Bill shared, “In 2025, XTransfer’s average collection amount from Asia, Africa, and Latin America grew by 106% year-on-year, with Africa exceeding 270%, Latin America reaching 94%, and ASEAN reaching 82%.”YB Liew noted the trend and thinks it is a direction Malaysia should pursue.
XTransfer also said it plans to establish Malaysia as its regional compliance centre, citing Malaysia’s strong geographic and time-zone advantages, a mature regulatory environment, availability of talent in compliance and risk operations, and cost efficiency. “Malaysia gives us the talent, governance environment, and regional proximity to scale compliance as intra-Asia and emerging-market trade accelerates,” Bill added.
BEIJING, CHINA – Media OutReach Newswire – 11 February 2026 – As China marks Xiaonian, or Little Chinese New Year, there is growing evidence of its ancient traditions evolving into global lifestyle trends. CGTN published an article analyzing how this prelude to the Year of the Horse – from the folk ritual of “sweeping the dust” to the cross-cultural fusion of the Spring Festival Gala – illustrates China’s growing global cultural resonance.
As the lunar calendar turns its final pages, China enters a period of joyful anticipation known as Xiaonian, or Little Chinese New Year. Often celebrated as the Festival of the Kitchen God, it marks the official start of the “busy year” – a traditional term for the intense, joyful period of preparing food, cleaning homes, and shopping for the upcoming Spring Festival.
The Spring Festival is a deeply significant time for family reunion. In 2024, UNESCO inscribed the “Spring Festival, social practices of the Chinese people in celebration of the traditional Chinese New Year” onto the Representative List of the Intangible Cultural Heritage of Humanity.
While daily routines continue to evolve, they remain anchored in rituals that provide a sense of normalcy and meaning. It is perhaps no wonder that in a climate of uncertainty, traditional Chinese lifestyles are finding a new audience beyond the country’s borders, with the Spring Festival chief among those unique traditions that are fast becoming a shared human experience.
Diverse traditions, shared aspirations
In a prelude to the broader celebrations, Xiaonian, observed on February 10 and 11 this year, kickstarts a focused period of preparation. According to ancient lore, families offer Zaotang, or sticky “Kitchen Candy,” to the Kitchen God to ensure he delivers a favorable report on the household’s conduct before he ascends to the heavens. This lighthearted tradition marks the beginning of several symbolic rituals aimed at welcoming a fresh start.
A key element of this transition is donning new clothes. In Chinese culture, the New Year represents a moment when “all things are renewed,” and wearing new garments symbolizes shedding the “dust” or misfortunes of the past to embrace auspicious energy for the year ahead. Alongside this personal renewal, families nationwide engage in “sweeping the dust,” a deep-cleaning ritual to purify the home and prepare it for new blessings.
Whereas these practices are universal, celebratory flavors vary by geography. In the north, families traditionally gather over steaming plates of dumplings, whereas in the south, the menu often features sweet rice cakes (Niangao) and glutinous rice balls (Tangyuan).
As Mao Qiaohui, a researcher at the Institute of Ethnic Literature at the Chinese Academy of Social Sciences, explains, these variations highlight the inclusive nature of Chinese civilization.
“Although folk customs differ between different regions across China, this diversity reflects the cultural pluralism within the Spring Festival tradition,” she notes. “Different regional identities contribute to a shared pursuit of harmony and reunion.”
The vitality of these traditions is also evident in local craftsmanship. In northern regions like Shandong and Henan, artisans are currently making Huamo, decorated steamed buns, featuring horse designs for the upcoming zodiac year. Meanwhile, in Shuozhou, Shanxi Province, intangible heritage inheritors are carving spirited stallions onto traditional gourds. These creations reflect the regional diversity of the festival and a collective desire for progress in the year ahead.
Cultural dialogue: From global stage to daily life
The festive atmosphere is reflected further in preparations for the Spring Festival Gala (Chunwan), produced by China Media Group.
Recent rehearsals show performances meshing traditional Chinese culture with international artistry. One performance piece combines the wooden clog dance of the Hani and Lisu ethnic groups with the rhythmic tap of Spanish Flamenco and Hungarian folk dance. And with global stars like Jackie Chan and Lionel Richie on the bill, the Gala’s stage is set to become a stage for the world to come together.
The reach of the gala has expanded far beyond a domestic audience. Through the “Spring Festival Gala Prelude” events held in the United States, Russia, France, Italy, and several African nations, the program has become a gateway to Chinese New Year customs and cultural exchange.
This interest extends beyond art and into the lives of people worldwide, as seen in the #BecomingChinese trend. This phenomenon features international social media users adopting elements of Chinese daily life – such as keeping a thermos of hot water handy, wearing quilted indoor slippers or practicing mindful movement with Baduanjin exercises.
The festival is no longer a distant event but a gateway to Chinese lifestyle, rooted in ancient wellness wisdom and constantly updated by modern convenience, and the first step to a journey of exploration into a culture that values ritual, safety and hospitality.
Whether through global broadcasts or shared daily habits, the Spring Festival increasingly strengthens a sense of cultural empathy between China and the rest of the world.
Northlanders will now be able to access key vascular surgery procedures at Whangārei Hospital, marking an important step in improving access to essential specialist care in the region.
“People in Northland who need renal fistula surgery or varicose vein treatment will now be able to receive that care closer to where they live, without having to travel to Auckland,” Mr Brown says.
“Travelling for treatment can be stressful and disruptive for patients and their families, and providing these procedures locally is a practical step that will make a real difference.”
The new service builds on the vascular outpatient clinics and nurse specialist support that Auckland-based teams have provided for some time. While specialist teams have regularly travelled north to support patients, until now surgery itself could only be completed in Auckland.
“Delivering these procedures monthly at Whangārei Hospital is the next stage in strengthening the vascular service for Northlanders.
“It expands on the longstanding support provided by visiting vascular teams and reflects a commitment to ensuring more care is delivered as close to home as possible.”
Clinical nurse specialists have also been recruited to coordinate care, provide pre- operative and post operative support, and ensure patients have a seamless experience across both local and visiting services.
“Improving access to quality health services in regional and rural New Zealand is a priority for the Government. Strengthening services in places like Northland is an important part of fixing the basics and building a health system that works better for patients across the country,” Mr Brown says.
LONDON, UK – Media OutReach Newswire – 11 February 2026 – In the 1930s, De Beers redefined the role of diamonds in society, celebrating them as masterpieces of nature and craftmanship. Before this, diamond jewelry pieces were treasures exchanged discreetly amongst society’s elite, as luxury houses, fearful of diminishing their mystique, fostered only private relationships with their clients. De Beers revealed the wonder of diamonds to a wider audience, shifting the perception of them from luxury item to a gift integral to romantic milestones and aspirational, glamorous lives, as well as a way of marking personal achievement.
De Beers Group And Assouline Celebate The Launch Of “A Diamond Is Forever: The Making Of A Cultural Icon 1926-2026”
When copywriter Frances Gerety captured the diamond’s essence with the phrase “A Diamond Is Forever” in 1947, the declaration enshrined the diamond as a promise of love and endurance, a sentiment resonating far beyond the notion of a simple gift. Gerety’s words, seen on archival advertisements, magazine placements, and celebrity endorsements, reflected the deep cultural connection between diamonds and enduring relationships. Commissioned artwork from artists such as Pablo Picasso, Salvador Dalí, and Raoul Dufy draw a direct line between a diamond’s rarity—each one formed deep within the earth over billions of years—and the creative genius of fine art. By sharing these artistic visions with the world, De Beers revealed the wonder of diamonds—nature’s oldest treasure—to a wider audience, elevating their aura and allure while preserving the sense of rarity and significance that sets them apart.
For a century, the story of diamonds has been one of transformation and continuity. In the 1960s, stars like Elizabeth Taylor and Marilyn Monroe adorned themselves with diamonds, embodying the elegance and glamour associated with the gemstone. The 1990s “Shadows” campaign, with its evocative pairing of diamonds and the neoclassical composition Palladio by Karl Jenkins, captured the essence of the diamond: authentic, unique, and everlasting.
In recent years, the conversation around diamonds has expanded to include provenance, sustainability, and ethical stewardship, affirming the diamond’s place as a symbol not just of love but of responsibility and conscience. Much like walking through a gallery that traces the evolution of artistic expression, A Diamond Is Forever offers a view into how diamonds have come to embody the shifting ideals and aspirations of society itself.
Agriculture Minister Todd McClay has today hosted a celebratory barbecue for farmers, industry representatives and MPs to mark the upcoming National Lamb Day on 15 February.
“As we honour the legacy of the pioneers behind the first shipment of frozen sheep meat to the United Kingdom, we also celebrate lamb exports exceeding $4 billion for the first time last year,” Mr McClay says.
“Today we acknowledge the red meat sector and its significant economic contribution to New Zealand, as well as the hardworking men and women behind that success.
“Agriculture is the backbone of our economy. Meat and wool export revenue alone is forecast to increase seven per cent to $13.2 billion in the year to 30 June 2026.
“The efforts of New Zealand’s hard-working sheep and beef farmers support tens of thousands of jobs, and the sector is crucial to New Zealand’s ambitious goal of doubling the value of exports in 10 years.
“This Government is focused on building the future. We’re cutting red tape through significant reforms, building trade, boosting farmgate returns, and investing in the health of rural New Zealand,” Mr McClay says.
“Since coming to Government, we have concluded, signed and entered into force the NZ–UAE Comprehensive Economic Partnership Agreement, finished negotiations with the Gulf Cooperation Council, and secured a high-quality, once-in-a-generation Free Trade Agreement with India.
“We’ll continue removing barriers to trade, opening doors to new partners and making the most of strong trading relationships.”
SINGAPORE / KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 11 February 2026 – Point Hope, a local investment firm, has published a new research note examining the implications of accelerating artificial intelligence (AI) investment, infrastructure constraints, and evolving competitive dynamics within equities markets.
The research addresses two dominant concerns currently shaping investor sentiment. The first is whether AI will disrupt incumbent businesses, particularly in capital-light software sectors. The second relates to whether physical constraints — especially power generation, permitting, and grid capacity — may slow the rollout of AI infrastructure and temper expectations embedded in current market valuations.
According to the firm’s analysis, both concerns warrant careful consideration. Power generation remains capital-intensive and time-consuming, suggesting that AI deployment is likely to progress unevenly rather than in a linear fashion.
At the same time, the scale of capital investment underway is unprecedented. Large technology companies have outlined plans for an estimated US$600–700billion of AI-related capital expenditure in 2026, with a significant portion directed toward data centres, chips, servers, and supporting infrastructure. These commitments reflect their belief that AI will become a core input across the global economy.
The research argues that for equity investors, the more consequential question is not whether AI adoption will continue, but how it will reshape competitive advantage among incumbent businesses.
Recent market volatility has highlighted increasing scepticism toward established software companies, particularly those operating capital-light, subscription-based models. However, Point Hope cautions against assuming widespread displacement. Large software incumbents that possess entrenched enterprise relationships, network effects, and proprietary data, are likely to also have high switching costs for their customers, particularly in regulated or mission-critical environments.
Furthermore, the research notes that technological adoption does not necessarily imply wholesale reinvention. In many cases, AI is expected to reinforce incumbents’ competitive positions rather than undermine them.
This durability-focused perspective underpins Point Hope’s long-term equity investment approach, which emphasises resilience to disruption, cash-flow generation, and the ability to compound value across market cycles.
“We view earnings and cash-flow durability as the ultimate arbiters of value,” says Guan Zhen Tan, Chief Investment Officer of Point Hope. “That perspective encourages patience during periods when market narratives move faster than fundamentals.”
Point Hope’s research concludes that while markets will ultimately resolve these questions through earnings releases in the coming months, periods of heightened narrative-driven volatility may reward patient investors willing to prioritise fundamentals over short-term themes.
Please attribute to Acting Detective Senior Sergeant Karli Whiu:
Hastings Police are seeking information as they investigate a serious stabbing that occurred in the early hours of Saturday morning 7 February.
At around 3.25am, Police were called to a report of a stabbing at an address in the Karamu Road North area.
Officers located a man with severe injuries. Police immediately provided first aid before paramedics transported him to hospital, where he underwent surgery. He remains in a critical condition.
The alleged offender fled the scene prior to Police arrival.
At approximately 6am, Police received information about a man hiding at a property on Mayfair Avenue, not far from where the incident occurred. The man was located and arrested without further incident.
He has been charged with wounding with intent to cause grievous bodily harm and has been remanded in custody.
Police are now seeking CCTV footage from residents in the surrounding area that may have captured information between the time of the incident and his arrest. Residents are asked to carefully check the time settings on their cameras, including any daylight‑savings adjustments, to ensure footage covers the relevant period.
Police are also asking local residents to check their properties for any items that may have been discarded by the alleged offender.
Anyone with information is asked to make a report at 105.police.govt.nz, clicking ‘Update Report’, or by calling 105. Please use reference number 260207/3403.
Alternatively, information can also be shared anonymously through Crime Stoppers, by calling 0800 555 111.
The Government has instigated an independent review of New Zealand’s monetary policy response to the Covid-19 pandemic.
Finance Minister Nicola Willis says the purpose of the review is to identify any lessons New Zealand could learn to improve the monetary policy response to future major events.
“An independent review means the conclusions found can be objective and constructive.
“The Reserve Bank of New Zealand took unprecedented action in response to the Covid-19 pandemic. This included reducing the Official Cash Rate to 0.25 per cent, and the use of additional monetary policy tools, including a Large Scale Asset Purchase (LSAP) programme.
“These actions helped to preserve jobs and keep businesses afloat, but the indirect impacts included decades-high inflation, and losses of about $10.3 billion on the LSAP programme and a significant spike in asset values with house prices increasing 30 per cent in one year.
“The purpose of the review is to learn from experience. It will focus on decisions by the Monetary Policy Committee (MPC), and analysis provided by the Reserve Bank to support those decisions. This includes MPC decision making and communication, the use of additional monetary policy tools, and the coordination of monetary and fiscal policy.”
Monetary policy experts Athanasios Orphanides and David Archer have been appointed to conduct the independent review.
Dr Orphanides is a former governor of the Central Bank of Cyprus and member of the Governing Council of the European Central Bank, and a professor of the Practice of Global Economics and Management at the Massachusetts Institute of Technology.
Mr Archer is a former Reserve Bank assistant governor and former head of the Central Banking Studies Unit at the Bank for International Settlements.
The review is expected to be completed in August 2026 and publicly released in September 2026.
Construction is underway to expand and upgrade Palmerston North Hospital’s emergency department, Health Minister Simeon Brown says.
“This redevelopment is a practical, front-line investment that will make a real difference for patients and staff, helping to reduce wait times while improving safety, privacy, and the overall flow of care,” Mr Brown says.
The $14.455 million project is part of the Government’s $100 million hospital infrastructure programme funded through Budget 2025, accelerating improvements across health facilities nationwide.
“The upgrade will increase emergency department capacity by around 40 percent, delivering 15 additional points of care, a new mental health assessment room, and redesigned spaces that support better patient flow, privacy, and safety.
“Palmerston North Hospital’s emergency department was built 25 years ago, and demand now far exceeds what it was designed for. This redevelopment will deliver a modern, efficient, patient-centred environment that is better equipped to respond to growing demand and seasonal pressures, including winter.”
Palmerston North Hospital’s emergency department is the central hub for emergency care across the MidCentral district, supporting Whanganui Hospital, Dannevirke Community Hospital, and Horowhenua Health Centre.
“This investment strengthens the wider regional network and helps ensure people across region can access timely emergency care close to home.”
Mr Brown says the Government’s $100 million investment programme is delivering 21 local projects across the country to expand and upgrade clinical spaces, strengthen essential infrastructure, and reduce the risk of disruption to critical health services.
“Our Government is focused on practical improvements that strengthen hospital services and put patients at the centre, with targeted upgrades that lift capacity where it is needed most, including here at Palmerston North Hospital.”
The emergency department will remain open throughout the redevelopment, which is expected to be completed in June 2026.
“This work is being carried out while keeping services running, ensuring patients can continue to access care as we build the capacity Palmerston North needs for the future,” Mr Brown says.
A message from HM King Charles III on the 100th anniversary of the constitutional relationship between Tokelau and New Zealand
To the people of Tokelau, Malo Ni! My wife and I have such fond and lasting memories of meeting members of the Tokelauan community during our visits to New Zealand, and so it gives me great pleasure to extend my warmest greetings to you on the very special occasion of the 100th anniversary of Tokelau’s unique relationship with New Zealand.
The flag of Tokelau depicts a canoe under full sail, voyaging towards the stars of the Southern Cross; stars which have helped Tokelauans navigate the Pacific waters for centuries. On this milestone anniversary, I hope that all Tokelauans can take pride in their nation’s voyage over the past 100 years and your many achievements in that time. The Tokelauan voice is vital on the global stage, reminding the world of the urgency with which we must all act to ensure that the rich natural beauty and vibrant cultural heritage not only of your nation, but also of so many small island states around the world, continue to thrive in the years to come.
Although, sadly, I am unable to join you in person as you embrace this opportunity to reflect on the past and look towards the future, I particularly wanted to send you my very best wishes for your celebrations.
Source: Te Herenga Waka—Victoria University of Wellington
A new study analysing COVID-19 vaccine uptake has found markedly lower vaccination rates among Māori, which researchers link to existing inequities in healthcare access.
The study looked at vaccination rates from December 2020 to May 2023, finding 28.4 percent of Māori were unvaccinated during this period, compared with 14.7 percent of non-Māori.
“Based on these numbers, we estimate 78,880 fewer Māori were fully vaccinated than would have been the case if vaccination rates were the same for both groups,” said Dr James Mbinta, lead author of the study and a research fellow at Te Herenga Waka—Victoria University of Wellington.
The study also found marked differences in rates of partial vaccination, with Māori more likely to receive only the first dose of the COVID-19 vaccine and not go on to get the second dose.
Enrolment in a primary health organisation (PHO) was flagged as a key factor influencing whether Māori received at least one dose of the vaccine. The study also found those living in lower-income households and in lower-quality and crowded housing were less likely to be vaccinated.
“For Māori, the likelihood of being partially or fully vaccinated was higher among those enrolled in a PHO. This highlights the need for vaccination strategies that include improving PHO enrolment, especially for populations that have a known higher risk of severe health outcomes from COVID-19,” said co-author Andrew Sporle (Ngāti Apa, Rangitāne, Te Rarawa), an honorary academic in the Department of Statistics at Auckland University and managing director of research firm iNZight Analytics.
Previous research has shown Māori have higher rates of both hospitalisation and death from COVID-19 compared with the general population.
“Our findings highlight the crucial need to ensure vulnerable populations can access healthcare. Targeted approaches, using evidence from data generated by rigorous studies such as this, are needed to address health disparities and ensure equitable access to healthcare resources,” said co-author Professor Colin Simpson, a senior adviser in the School of Health at Te Herenga Waka and professor in the Faculty of Medical and Health Sciences at Auckland University.
ASB has reported a cash net profit after tax (NPAT) of $719 million for the six months to 31 December 2025, up 1% on the prior comparative period. Statutory NPAT was $765 million.
Since December 2024, home lending has grown 8%, while business and rural lending grew by 4%. Total customer deposits increased by 5%.
Net customer margins remain flat, reflecting higher home lending margins and lower deposit margins. Net Interest Margin (NIM) was up 6 basis points driven by higher earnings due to timing effects from interest rate hedges.
ASB KiwiSaver Scheme funds under management grew by more than $1.7 billion to more than $20.6 billion, thanks to continued strong returns to customers and top quartile performing funds.[1] Collectively, ASB Group Investments manages more than $31 billion for investors across its range of five products.
Operating expenses were $839 million, an increase of 21% largely driven by the settlement of the Credit Contracts and Consumer Finance Act 2003 class action proceedings, and investments in people, technology modernisation, digital experience and regulatory compliance.
Chief Executive Vittoria Shortt says “While the geopolitical outlook remains uncertain, we are seeing more confidence in the economy, supported by lower interest rates and good export earnings in key sectors. This is evident in the uptick we’ve seen in business lending, with more lending growth across small business, commercial and rural this half than in the previous financial year.
“We remain well positioned to support our personal and business customers as they continue to tackle higher costs, navigate volatility or transition to growth.”
Investing in our customer experience
“We continue to make significant investments so customers choosing to bank with ASB have a simple and modern experience, where they feel informed and confident about making important financial decisions and safer knowing we actively seek to protect them from fraud and scams.
“Through our technology modernisation we are simplifying the way we work and the services we provide, removing overlap and complexity and offering products that might better suit our customers’ changing needs.
“We have a focus on service excellence and meeting customers’ expectations of faster and simpler processes, with quicker decisions on their home loan applications. Building on our capability for single home loan applications to be started digitally through the ASB Mobile App, in November we extended this functionality to include joint home loan applications. Customers can track the progress of their application and view indicative pricing in the ASB Mobile App, so they remain informed at every step.”
Further customer protections
“Fraud and scams remain an issue for New Zealand, and we continue to seek to make banking with us safer with enhanced customer protections against economic crime.
“We are now able to share data between banks related to digital fraud and money mule activity through the Fraud Reporting Exchange and New Zealand Data Exchange. We remain available to assist customers 24/7 on our 0800 ASB FRAUD line.”
Investing in New Zealand
“While we’ve seen business lending growth pick up, with increases across agricultural and property lending, for long-term prosperity New Zealand needs to become more productive.
“We are backing business customers to boost their productivity using artificial intelligence and technology in partnership with the New Zealand Product Accelerator and universities. Following a successful pilot, the programme is being scaled up this year to match up to 100 ASB business customers with AI, business analytics and data science masters’ students to work on their business.
“We are continuing to show up for rural New Zealand with offerings to help with transformation and succession through our Every Hectare Matters programme, and reduce costs with ASB’s Smart Solar 0% lending to assist the switch to renewable, resilient energy. We are supporting the future of the dairy industry and empowering the next generation of farmers towards the goal of farm ownership with financial support and expertise in partnership with the New Zealand Dairy Industry Awards and Fonterra.
“These initiatives are highly valued by the rural sector, as a result we have grown our rural lending more than any other bank in the 12-months to September 2025.[2]
“Long-term prosperity also requires that we have enough housing to support our growing population and easier access to more affordable housing solutions. We have doubled our commitment to $1 billion to accelerate the development of social and affordable housing and the long-term delivery of thousands of new homes. To date we have committed $517 million for social and affordable housing, and this half we committed nearly $50 million to a Māori social housing provider in Tāmaki Makaurau to deliver more than 150 homes.”
Saving for the future
“Regular savings provide a pathway to long-term financial wellbeing and broader economic resilience for Aotearoa.
“We have put a lot of effort into the ASB Investment Funds and the ASB KiwiSaver Scheme so we can offer competitive investment options for customers. We have multiple top performing KiwiSaver funds with low fees, and this is a powerful combination that can make a big difference for our nearly half a million ASB KiwiSaver Scheme members who stand to benefit when purchasing a first home and/or in retirement.
“We remain focused on how we can help tamariki build financial literacy and early savings habits. In November, we reintroduced our Kashin moneybox to celebrate ASB’s 150 years of supporting Kiwi kids to get one step ahead with money. We’ve seen a notable increase in the opening of new Headstart accounts, helping children to start their savings journey. We continue to support the delivery of financial education nationwide with nearly 45,000 students participating this half in our GetWise and Tikitiki o Pūtea programmes in schools.”
[1]ASB KiwiSaver Scheme Conservative, Moderate, Balanced and Growth funds are in the top quartile for 12-month performance to 31 December 2025, Morningstar KiwiSaver Survey (Dec 2025).
2RBNZ quarterly release, 12-months to September 2025.
Income Statement ($ millions)
For the half year ended 31 December
2025
2024
Dec 25 vs Dec 24 %
Net interest income
1,602
1,471
9
Other operating income
233
233
–
Total operating income
1,835
1,704
8
Operating expenses
(839)
(695)
21
Operating performance
996
1,009
(1)
Loan impairment expense
(3)
(17)
(82)
Net profit before tax
993
992
–
Corporate tax expense
(274)
(278)
(1)
Cash net profit after tax (“Cash profit”1)
719
714
1
Reconciliation of Cash profit to Statutory profit
Cash profit
719
714
1
Reconciling items:
Hedging and IFRS volatility2
7
(7)
large
Notional inter-group charges3
53
71
(25)
Reporting structure differences4
6
6
–
Tax on reconciling items
(20)
(21)
(5)
Net profit after tax (“Statutory profit”)
765
763
–
Performance indicators (cash basis)
6
Net interest margin (%)
2.35
2.29
6 bpts
Return on assets (%)
1.0
1.1
(10) bpts
Operating expenses to total operating income (%)
45.7
40.8
490 bpts
Return on average total equity (%)
12.0
12.6
(60) bpts
Statutory Balance Sheet ($ billions)
As at 31 December
2025
2024
Dec 25 vs Dec 24 %
Advances to customers
118.7
111.6
6
Total assets
139.7
131.9
6
Deposits and other borrowings
94.5
94.8
–
Total liabilities
127.4
120.5
6
Cash profit reflects the Banking Group’s underlying operating results and excludes items that introduce volatility and/or one-off distortions which are not considered representative of ongoing financial performance. These items are calculated consistently year on year and do not discriminate between positive and negative adjustments.
Hedging and IFRS volatility includes unrealised fair value gains or losses on economic hedges that do not qualify for hedge accounting and unrealised fair value gains or losses on the ineffective portion of hedges that do qualify for hedge accounting under NZ IFRS. These fair value gains or losses are excluded from Cash profit/(loss) since the asymmetric recognition of the gains or losses does not affect the performance of the Banking Group over the life of the hedge.
This represents the recognition of a notional cost of capital from the ultimate parent and other allocated costs which are not included in Statutory profit. Comparative information (including the tax impact) has been restated to conform to presentation in the current period. As a result, the return on average total equity and operating expenses as a percentage of total operating income have been restated accordingly.
The results of certain business units within the CBA Group are excluded from Cash profit for management reporting purposes but included in Statutory profit.
[1]ASB KiwiSaver Scheme Conservative, Moderate, Balanced and Growth funds are in the top quartile for 12-month performance to 31 December 2025, Morningstar KiwiSaver Survey (Dec 2025).
[2]RBNZ quarterly release, 12-months to September 2025.
This policy outlines the commitment of the Office of the Privacy Commissioner (OPC) to equal employment opportunity, diversity and inclusion and to eliminating the barriers that cause or perpetuate inequalities in employment.
OPC aims to provide equal employment opportunities to make the most of the talents of all our people and attract top talent to the organisation. This policy applies to all OPC employees, including those on secondment to us.
Policy Statement
OPC is committed to upholding its responsibilities as an Equal Employment Opportunities employer and creating a workplace that attracts, retains and values a diverse workforce.
2.2. To achieve this OPC seeks to:
a) provide equal opportunities for recruitment, retention, development, and promotion of all its current and prospective employees, regardless of gender, sex, marital status, religious/ethical belief, ethnic or national origins, disability, age, political opinion, employment status, family status, or sexual orientation
b) develop and maintain a workplace culture that values and supports diversity and inclusion
c) ensure that it provides a safe, supportive, and healthy environment for all employees that is conducive to quality service delivery
d) provide a workplace that welcomes, respects, and includes rainbow and takatāpui communities
e) identify and seek to eliminate all aspects of policies and procedures or other institutional barriers that cause or perpetuate inequality in respect of the employment of any person or group of persons
f) ensure all staff appointments are made solely on the basis of merit, and that all promotions, advancements, salary reviews and professional/career development opportunities are based solely on merit
g) seek to improve employment opportunities for groups who are traditionally under-represented in either occupational groups or levels of seniority, in particular women, Māori and Pacific people
h) not tolerate any form of unfair discrimination in the workplace on any ground, including gender, sex, marital status, religious/ethical belief, ethnic or national origins, disability, age, political opinion, employment status, family status, or sexual orientation
i) promote equal employment opportunities as an integral part of OPC workplace policies and practices
j) monitor, review and evaluate progress towards achieving equal employment opportunities. This includes assessing and, if required, reducing identified gaps at all levels of the organisation.
Responsibilities
General Manager
Framework development, implementation and compliance monitoring. Progression against OPC’s Kia Toipoto and DEI Action Plans.Supporting and training for OPC leaders and teams.
Managers
Creating an environment that promotes EEO/diversity. Understanding their obligations under applicable legislation and processes and ensuring compliance.Ensuring that all practices and procedures that apply to the staff for whom they are responsible are consistent with this policy.
All employees
Accountability for themselves and their activities to act in accordance with our EEO principles and OPC values.
Thousands more plumbing and drainage products already used widely in Australia can now be accessed easily by Kiwi tradies and do-it-yourself homeowners. “The Government is focused on fixing the basics and building a better future for New Zealand, and that means making it easier and more affordable to deliver the homes and public buildings that will ease house prices and lift living standards,” Building and Construction Minister Chris Penk says. “It’s great to see the Ministry of Business, Innovation and Employment (MBIE) recognise a second tranche of overseas building products certified under the reputable Australian WaterMark scheme, issuing 54 recognition notices that cover around 38,274 products.
“A first round in October made it easier to bring more than 90,000 WaterMark-approved products onto the market, including tapware, water service products, and sanitary and stormwater drainage products.
“While these materials are already tried and tested in Australia and familiar to many tradies in New Zealand, Kiwi builders and designers previously had to individually demonstrate that each product met Building Code requirements when applying for consent to use it.
“By amending the Building Act through the Overseas Building Products Amendment Bill, MBIE can now recognise building products already certified under overseas schemes in comparable countries in the tens of thousands, rather than one at a time. “The granting of these recognition notices means Building Consent Authorities must accept the products as compliant, reducing unnecessary red tape, costs, and delays while allowing a more diverse range of materials to be used.
“Supply chain shocks and shortages choke building productivity. Better access and greater choice provide industry with more resilience and increases market competition to put downwards pressure on prices for tradies and homeowners.
“As MBIE continues to review overseas building products under the new law, tradies and homeowners can expect even better access to essential materials, including plasterboard, cladding, windows, and doors.”
Notes to editor:
“Recognition notice” is the official term for approval of an overseas building product or standard by MBIE.
Notices are not a blanket approval for all WaterMark certificates. Only products that have a valid, up‑to‑date certificate listed on a current notice can be used as meeting the required standards.
Recognition notices are now publicly available at www.building.govt.nz, along with a diagram showing how these overseas standards fit within New Zealand’s building regulatory framework.
Pets are not permitted in New Zealand’s national parks or on DOC land where dogs are prohibited – even if the hounds are inside vehicles – and owners could face a $400 infringement fee.
DOC Principal Investigations Officer Marlous Heijs says staff at Aoraki/Mount Cook are seeing more canines in cars because they’re monitoring vehicles during the paid parking pilot running at Whitehorse Hill.
Staff have issued seven infringement notices in less than two months.
“We know this is an issue right around the country, but over the past couple of months our staff have seen it first hand at Aoraki, where they’ve spoken to people and gathered information and evidence,” she says.
“Some of the photos are quite classic. The dogs are clearly enjoying hanging out the windows and taking in the mountain air – but the issue of dogs in national parks is serious.”
“The rules are there to protect our precious native species. Dogs are loveable and popular pets, but they can have a massive impact on protected birds, plants and animals – and any pet can make a mistake and attack wildlife, defecate or dig something up,” she says.
A report compiled and released by DOC’s National Compliance Team in October 2025 revealed 75 recorded incidents of dogs attacking, killing, or harassing wildlife between 9 September 2020 and 12 August 2025.
“People sometimes plead ignorance of the rules or try and argue their pets staying in the vehicle don’t present an issue, but we’ve seen dogs being let out to have a run around and to toilet,” Marlous says.
“There is also an animal welfare issue, given how long it takes to drive to Aoraki and the amount of time people spend there,” she says.
Last December the SPCA issued a media release asking people to be more aware over summer about the risk of leaving their pets in cars during the hot December/January months.
SPCA receives hundreds of calls every summer about dogs left in hot cars – a preventable and heartbreaking welfare issue.
“You wouldn’t leave a child in a hot car,” says SPCA CEO Todd Westwood. “Please do the same for your furry family members.”
Todd says SPCA is reminding the public even on mild days, the temperature inside a car can rise rapidly. On a 21°C day, a car parked in the shade with windows down can still reach more than 31°C in just 10 minutes, and more than 40°C in 30 minutes.
“Dogs cannot cool themselves effectively in enclosed spaces. Panting alone is not enough. Parking in the shade or lowering windows does little to reduce the risk.”
Marlous says she’s surprised at what some pet owners do and it’s not just dogs. People have brought in cats and even goats into various national parks around the country wanting to walk the tracks.
She says it’s a pet owners’ responsibility to do research before taking pets onto public conservation land.
Roads running through some national parks in New Zealand are administered by Waka Kotahi/NZTA and as public roads, you are permitted to drive through them with a pet in your car. Aoraki/Mount Cook is not one of them.
“Many of the roads within Aoraki Mount Cook National Park are administered by DOC and are known as a ‘park road’. This includes most of the roads within Mount Cook Village and the road to White Horse Hill Carpark where many short walks start. These roads are part of the National Park therefore the same rules apply (no dogs in vehicles). These are all well signposted, and there is plenty of information online about where you can (and can’t) take your dog.”
Marlous Heijs says the clear message for everyone is pet owners have a key role to play in looking after nature.
“Our message is ‘leave your dog at home if you’re going naturing in a national park’. There are plenty of other places to go with your dog, but this isn’t one of them.”
NATURE LOOKS DIFFERENT FROM HERE
Nature isn’t scenery. Nature is a society that we rely on for everything, every day. It’s behind our identity and our way of life.
Defence Minister Judith Collins departs today for Germany to attend the international Munich Security Conference.
“In a turbulent and unpredictable world, the Munich Security Conference is an important opportunity to debate key security issues that impact New Zealand,” Ms Collins says.
“This year the conference brings together global decision-makers and military leaders from more than 100 countries, working to bolster cooperation, collective security and the peaceful resolution of conflicts.”
During the three-day conference Ms Collins will hold bilateral meetings with a number of New Zealand’s long-standing defence partners, including the United Kingdom’s Secretary of Defence, John Healey, and NATO Secretary General, Mark Rutte.
She will also speak at a session focused on the interconnected nature of security challenges in the Indo-Pacific and Euro-Atlantic regions.
“I look forward to sharing New Zealand’s perspectives on a range of international issues, particularly the interconnected security challenges facing both of our regions such as Russia’s illegal invasion of Ukraine and escalating strategic competition.
“As a small nation reliant on trade at the bottom of the southwest Pacific, we must take every opportunity to sit at the table and advocate for our interests and values.”
Ms Collins will return to New Zealand on 16 February.
Consumer NZ expects power prices to increase by about 5% in 2026 – a blow to households already hit with a 12% increase to power bills last year.
Households should brace for another big bump in power prices in the year ahead. The price predictions from Consumer NZ come at a time when nearly half of all New Zealanders are concerned about the cost of their household energy.¹
“Power bills are hiking up because of an increase in lines charges’ costs – that’s the cost of delivering power to your house, and it’s the amount on your bill that stays the same regardless of how much power you use,” said Paul Fuge, Powerswitch manager.
The lines charge makes up just over one-third of the power bill, and a small hike to that fixed cost makes a big difference to monthly bills.
Consumer recommends budgeting for an increase to power bills from the end of April. Customers can expect line charges alone to climb by an average of $5 per month through to 2029.
“The lines charge will add an average of $5 per month to your bill, but this figure will vary depending on where you live and who your retailer is. As well as the fixed costs, we expect consumers will face increases to the cost of the electricity they use too,” said Fuge.
Why power prices keep going up
The cost of running and maintaining the electricity networks has increased, and this cost flows through to people’s power bills.
“It’s an unfortunate reality that households are being asked to shoulder higher charges to have electricity delivered to their homes. But at the same time, heavy rainfall over summer – so extensive that major hydro lakes are spilling water –has driven down wholesale electricity prices. Those lower generation costs should be easing the pressure on consumers by offsetting these rising lines charges. That doesn’t seem to be happening. And that’s deeply unfair.”
The impact of ever-increasing power bills
Consumer’s research found that, last winter, one in five New Zealanders went to bed early to stay warm, one-quarter of people went without heating when it was cold and nearly one in five people cut back on food or other essentials to pay a power bill.²
“These drastic measures to manage power bills are not limited to one age group – young adults, older New Zealanders and everyone in between are being forced into uncomfortable and sometimes unsafe choices.
“Based on our price predictions for 2026, we think the situation will only get worse,” says Fuge.
Consumer’s tips for managing power price surges
Check you’re on the cheapest plan – Power retailers are constantly changing their offers. Just because you picked the cheapest plan last year, it doesn’t mean it’s the best plan available now. You can find if there’s a plan that’s better for you through the free and independent power comparison website Powerswitch.
Keep your eye out for April price rises – Power retailers typically increase their prices from April. Mark a date in your diary for after 1 April to check in with Powerswitch to see if there are further savings you could make by switching then.
Understand your power usage – If you can do most of your power-hungry activities, like running your washing machine and dryer, in off-peak periods, you could make big savings. Off-peak periods are usually late at night, the middle of the day and weekends. You need to be on a time-of-use plan to save the most from your off-peak power usage. Being careful with when you use your power could potentially help you offset the price rises that we are predicting.
Notes
¹ Consumer NZ Sentiment Tracker January 2026 ² Consumer NZ Sentiment Tracker October 2025
Consumer NZ’s Sentiment Tracker is an online survey based on a nationally representative sample of the New Zealand population. Results are weighted by age, gender and region based on Stats NZ 2018 Census data. Respondents are sourced from Dynata, an external panel provider. Surveys are conducted quarterly with at least 1000 respondents, with a margin of error of +/-3.1%.
The PSA is calling on the Ministry of Social Development (MSD) to pause a proposal to cut security guards from three to two at 20 offices around the country until the union is satisfied that proper risk assessments have been carried out.
MSD is planning to introduce the two-guard model at smaller centres across the country from Waiuku through to Gore (see note below).
“Every worker deserves to be safe at work, and this decision risks repeating the mistakes of the past,” said Fleur Fitzsimons, National Secretary for the Public Service Association Te Pūkenga Here Tikanga Mahi.
“The PSA formally asked for site specific risk assessments to be undertaken in a letter to MSD on 3 February 2025.
“The PSA met with MSD this week to discuss concerns that the proposal to reduce security guards was developed without consultation with workers who would be most impacted.
“MSD claims to have undertaken a site assessment, but this has not yet included consultation with workers on the sites or the union. The voice of workers and the union is critical for risks to be properly considered.
“We have asked for a copy of the so-called site assessments so we can determine if they adequately assess risk facing our members. MSD has not agreed to provide the assessments but has agreed to discuss them further with the PSA.”
MSD has now committed to engaging with PSA members at each site which is a welcome development, but we have no commitment that decisions to reduce security guard numbers will be re-visited.
“We remain concerned that the approach from MSD disrespects the vital role security guards play in keeping both MSD workers and members of the public safe. They can de-escalate tense situations before they spiral out of control.
“People often come to MSD offices at the most stressful times of their lives – dealing with unemployment, housing insecurity, or financial hardship. Sometimes they take their frustrations out on frontline staff.
“In an environment of increased unemployment and lack of housing, this is exactly the wrong time to be reducing security.”
The PSA will continue to press MSD for specific risk assessments that reflect the concerns of workers for each of the 20 impacted sites before the proposal can be finalised.
Note: the impacted offices are in Alexandra, Balclutha, Cambridge, Dannevirke, Feilding, Foxton, Gore, Greymouth, Marton, Matamata, Ngāruawāhia, Ōtaki, Queenstown, Stratford, Taihape, Te Kūiti, Wainuiomata, Waitara, Waiuku and Westport
The Public Service Association Te Pūkenga Here Tikanga Mahiis Aotearoa New Zealand’s largest trade union, representing and supporting more than 95,000 workers across central government, state-owned enterprises, local councils, health boards and community groups.