GP stops uploading patient notes to MyIndici as a precaution

Source: Radio New Zealand

MyIndici said it hasn’t been compromised. 123rf

A Wellington GP clinic has stopped uploading consultation notes to patient portal MyIndici as an extra layer of protection for patients’ data.

MyIndici said it hasn’t been compromised, but there have been two high-profile security breaches involving health data at other companies in the past few months – ManageMyHealth, and then MediMap.

Newlands Medical Centre, in response to questions from RNZ, said: “Whilst we have no concerns re Indici security, we made a decision to discontinue open notes as an added layer of protection for the security of our patients’ data. We will not be providing any further comment.”

But Valentia Technologies, the company behind patient portal MyIndici and the associated practice management system Indici, said it had not experienced any breach or security issue.

A spokesperson said the ability to control access to patient notes at either a practice-wide or individual patient level had been a long-standing feature of the Indici system, and prior to the news of the ManageMyHealth breach, some GPs already had their systems set up so patients wouldn’t see their notes on the portal.

Has your GP stopped uploading notes to its patient portal? Email me on kate.green@rnz.co.nz

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Watch: Students share what Polyfest means to them

Source: Radio New Zealand

Students performing at this weeks ASB Polyfest say the festival is a celebration of their diverse identities.

More than 11,000 performers from 73 schools are set to grace the stage over the next three days.

Polyfest is the world’s largest secondary school Pasifika cultural festival held annually since the late 1970s.

For Baradene College students Izzy Porter and Marlo O’Hagan representing Fiji, the event means “sharing our cultures” and “being able to represent our families and our ancestors on the stage”.

Baradene Fiji group at the ASB Polyfest 2026. 18 March 2026 RNZ Pacific / Tiana Haxton

For Manurewa High School’s Ayveah Mizziebo, “It’s a way to learn about my culture outside of my home, my church, my family, and to embrace other people’s cultures as well.”

Manurewa High School at the ASB Polyfest 2026. 18 March 2026 RNZ Pacific / Tiana Haxton

AUT student representative Lolomanaia Filia’i said Polyfest was all about identity.

“Finding who you are through culture, through food, through dance, through music.”

Tangaroa College student Breona Nassau said “regardless of whether or not you are the culture that you’re performing for, just representing that, and you know doing your best”.

Southern Cross Campus student Faith Fomai said the event was about “learning your roots, staying put, like, stick to your roots, our voices and our culture”.

St Cuthbert’s College student Bailey Li said Polyfest meant cultural diversity.

Bailey li, a Korean student from St Cuthbert’s College, says Polyfest means cultural diversity. 18 March 2026 RNZ Pacific / Tiana Haxton

“It allows everyone to perform their culture, represent other cultures, as well as be aware of other cultures and their beauty.”

For Iris Wen it was about “getting together and celebrating different cultures with different causes”.

A Chinese fan dance by St Cuthbert’s School at the ASB Polyfest 2026. RNZ Pacific / Tiana Haxton

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Body found in search for man missing in Lake Manapouri

Source: Radio New Zealand

The man fell overboard into the lake last Saturday.

Police searching for a missing man in Lake Manapouri over the past week, have recovered a body on Thursday.

Last Saturday, around 6.15pm, police were told a man had fallen overboard from a vessel 1km offshore in Lake Manapouri.

While formal identification is yet to take place, police believe it is likely to be the missing man.

Police Search and Rescue and the Police Dive Squad, assisted by the Royal New Zealand Navy, conducted extensive searches of the lake and surrounding areas over the last few days.

Today, the Police Dive Squad and the New Zealand Navy recovered the man’s body from the lake.

Sergeant Alun Griffiths said officers have offered their condolences to the man’s family.

“I would also like to thank all those involved in the search – we are especially grateful for the assistance of the New Zealand Defence Force in providing specialist expertise that allowed this extended search to be concluded,” he said.

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Clark Laidlaw extends time as Hurricanes head coach

Source: Radio New Zealand

Clark Laidlaw head coach of the Hurricanes before Super Rugby Pacific – Hurricanes v Chiefs at Sky Stadium, Wellington, New Zealand on Saturday 13 April 2024. Photosport / Elias Rodriguez

Head coach Clark Laidlaw will continue to guide the Hurricanes after re-signing with the franchise to the end of the next Super Rugby season.

Laidlaw’s contract renewal extends his tenure as head coach of the men’s team to a fourth season since joining the Hurricanes from the All Blacks Sevens ahead of the 2024 campaign.

New Hurricanes coach Clark Laidlaw. Andrew Cornaga/Photosport

The 48-year-old has led the Hurricanes to a semi-final and a qualifying final over the past two seasons, and has guided the team to the top of this year’s Super Rugby Pacific standings after five rounds.

Laidlaw said he’s thoroughly enjoyed his time at the Hurricanes.

“It’s a huge honour and privilege to continue serving the club. I really feel like I’m at home here. I love being involved with the team. We play a brand of rugby that really fits with my thinking on the game,” Laidlaw said.

“We’re building a squad and a club with new owners and new leadership, and I feel I really align with how they see it, so that was a big part of my decision to stay. The identity of the team and the way we want to play the game is something I really align with as well.

“Some days you feel like you’re only getting started. I’m a couple years in, but I still think there’s loads to develop, loads for me to be better at, loads for the team to grow into, and this is the place I want to do that.”

Prior to his appointment as Hurricanes head coach, the former Scottish sevens international – who became a New Zealand citizen late last year – had been an assistant coach at the club between 2013 and 2015.

Laidlaw has previously coached the All Blacks Sevens and has had roles with London Irish, New Zealand U20, Samoa, Taranaki, and Wellington sevens.

He won the 2018 Sevens World Cup, 2018 Commonwealth Games, 2020 World Sevens Series, and a silver medal at the 2020 Tokyo Olympics while All Blacks Sevens head coach.

Interim Hurricanes chief executive Tony Philp was thrilled to secure Laidlaw’s services for another season.

“We’re excited that Clark has signed on with the Hurricanes until 2027,” Philp said.

“He embodies our values and has a unique ability to get the best out of people. Clark cares first, which fosters an environment of deep connection that then enables performances to be proud of.

“Having him on board for another year will ensure our culture deepens.”

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Takeaways from US intelligence officials’ testimony amid war with Iran

Source: Radio New Zealand

By Aaron Blake, CNN

Director of Defense Intelligence Agency James Adams III, US Director of National Intelligence Tulsi Gabbard, and Acting Commander of US Cyber Command William Hartman testify during the Senate Committee on Intelligence hearing. AFP / OLIVER CONTRERAS

Analysis – Top Trump administration officials testified publicly on Thursday (NZT) for the first time since the launch of the Iran war three weeks ago.

Officials including Director of National Intelligence Tulsi Gabbard, CIA Director John Ratcliffe and FBI Director Kash Patel testified in front of the Senate Intelligence Committee, where they were pressed on the administration’s often-confusing and contradictory claims about the Iran war and the underlying intelligence.

The testimony came a day after the director of the National Counterterrorism Center, Joe Kent, became the highest-profile Trump administration official to resign over the war. Kent did so while suggesting the administration had lied about Iran posing an imminent threat.

Here’s what to know from Wednesday’s hearing:

Intel officials contradicted or failed to back up Trump’s biggest claims about the war

The biggest question going into the hearing was what these officials would say about the Trump administration’s many dubious claims about the Iran war. These officials see the intelligence after all, and they were testifying under penalty of perjury.

Wednesday (local time), they repeatedly either contradicted Trump and the administration’s claims or failed to back them up.

Officials repeatedly contradicted or failed to support Donald Trump’s claims about the war with Iran. AFP

On Iran’s nuclear program, Trump has stated that Iran had “attempted to rebuild their nuclear program” after his June strikes on that program, and he said in his State of the Union address last month that they were “starting it all over.”

White House adviser Steve Witkoff went further, saying Iran was “probably a week away from having industrial-grade bomb-making material.” And the White House has cited an “imminent nuclear threat” posed by Iran.

But Gabbard in her prepared opening statement told a far different tale.

“As a result of Operation Midnight Hammer (in June), Iran’s nuclear enrichment program was obliterated,” she said. “There has been no efforts since then to try to rebuild their enrichment capability.”

Gabbard notably did not read this portion of her opening statement. When pressed on why, she said it was because her “time was running long.”

When asked by Democratic Sen. Jon Ossoff of Georgia whether that remained the assessment of the intelligence community, she said, “Yes.”

Also in his State of the Union address, Trump claimed Iran was building intercontinental ballistic missiles (ICBMs) that would “soon reach the United States of America.”

But that’s not what US intelligence has said. And Gabbard in her prepared statement reiterated a previous assessment that Iran “could use” existing technology “to begin to develop a militarily viable ICBM before 2035 should Tehran attempt to pursue that capability.” Gabbard said that assessment would be updated in light of the current war.

When Senate Intelligence Committee Chairman Tom Cotton of Arkansas cited other analysts’ estimates that Iran could have had an ICBM “to threaten the United States in as few as six months,” Ratcliffe declined to put a date range on it.

Ratcliffe instead said Cotton was right to be concerned, and that “if left unimpeded … they would have the ability to range missiles to the continental US.”

But he did not echo the six-month timeframe – or Trump’s claim that it could be “soon.”

And lastly, Gabbard also would not back up Trump’s claim this week that no experts had predicted Iran would respond to being attacked by attacking its Gulf neighbours. In fact, Iran has spoken publicly about that possibility, and it was no secret.

When Democratic Sen. Ron Wyden of Oregon asked about Trump’s claim, Gabbard avoided directly answering the question.

When pressed by Democratic Vice Chairman Mark Warner of Virginia, Gabbard said she wasn’t “aware of those remarks” and declined to say whether she briefed Trump on the possibility – citing “internal conversations.”

The very mixed signals on Iran as an ‘imminent’ threat

Joe Kent in his resignation letter said Iran did not pose an imminent threat. ANNA MONEYMAKER / AFP

Perhaps the central issue is a more subjective one – whether Iran posed an “imminent” threat that warranted going to war.

The Trump administration has offered a series of different reasons why that was the case, many of which haven’t withstood scrutiny.

Kent in his resignation letter said Iran did not pose such an imminent threat. And afterward Gabbard – who before joining the administration strongly opposed war with Iran – issued a carefully worded statement in which she didn’t pass judgement on the claim herself. She instead cast it as Trump’s call to decide whether the threat was “imminent.”

But that in and of itself was remarkable – Trump’s own DNI declining to call the threat “imminent,” in the judgement of herself or the intel community.

The hearing didn’t provide too much evidence that the intelligence showed an imminent threat.

The testimony about Iran’s nuclear intentions and ICBM program didn’t suggest those were imminent threats.

When asked by Ossoff whether the intelligence showed an “imminent nuclear threat,” Gabbard responded, “The only person who can determine what is and is not a threat is the president.”

“It is not the intelligence community’s responsibility to determine what is and is not an imminent threat,” Gabbard maintained.

Ossoff rejected Gabbard’s stance, saying making such independent determinations was in fact the job of the intelligence community.

In his own comments, Ratcliffe reflected on Iranian-backed attacks on Americans in the region and said it has long posed an “immediate” threat.

“I think Iran has been a constant threat to the United States for an extended period of time and posed an immediate threat at this time,” Ratcliffe said.

Ratcliffe was also asked about whether he disagreed with Kent about Iran’s capabilities, and he said, “I do.”

But the exchange largely focused not on Iranian attacks on the US homeland, but rather attacks on Americans in the Middle East, including via Iran’s proxy groups.

And none of the witnesses described Iran as an “imminent” threat to the United States, in their own words.

Democrats didn’t dwell on Kent

While Kent’s resignation was major news, the Democrats on the committee declined to lean too hard on his account.

Warner brought up Kent’s claim about there being no imminent threat early in the hearing. Later, Republican Sen. John Cornyn of Texas asked Ratcliffe about whether he disagreed with Kent.

But the hearing didn’t get into the nitty-gritty of Kent’s claims, including his meeting before he resigned with Gabbard and Vice President JD Vance, both of whom have also been reluctant to vocally support the Iran war.

So why did Kent get short shrift?

Part of the reason could be that Democrats were wary of aligning themselves too much with him. Kent has a history of associating with extremists on the right, and his resignation letter accused Israel of being behind not just the Iran war, but also the Iraq war and the Syrian civil war.

Trump’s allies have criticised the political left for leaning so heavily on Kent’s account.

Democrats on Wednesday seemed to reason that they could get at the crux of Kent’s resignation without invoking him personally.

Gabbard provides little clarity on Fulton County search

It’s not as current an issue as the Iran war, but Gabbard’s presence at an FBI search of a Fulton County, Georgia, elections office two months ago raised more than a few eyebrows. And given concerns about the Trump administration’s activities vis-à-vis the 2026 midterm elections, it’s likely we’ll hear more about it.

The administration struggled mightily to explain why Gabbard, whose purview generally involves foreign threats, was present at the search. The search itself was controversial, too, given the affidavit used to get the search warrant recycled a series of dubious and debunked claims about the 2020 election.

Gabbard initially said Trump sent her. But then the White House distanced itself, with Trump saying Attorney General Pam Bondi had sent Gabbard (“she went at Pam’s insistence”) and that he didn’t even know why Gabbard was there. Then Gabbard claimed both Trump and Bondi had sent her, but Bondi declined to confirm it.

The situation remained clear as mud after Wednesday’s (local time) hearing.

Gabbard reiterated that she was at the Fulton County search “at the request of the president.”

Gabbard declined to say how Trump conveyed this request to her, but she said he asked her to “help oversee” the search.

But when Warner pressed her on why Trump would be involved or even aware of an FBI search, Gabbard suggested it was possible Trump wasn’t aware of the details behind the search.

CNN

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Greenpeace targets PM’s office over possible NZ minerals deal with US

Source: Radio New Zealand

The scene of the protest on Thursday. Supplied

Pictures of US President Donald Trump, Prime Minister Christopher Luxon, and US flags have been plastered on the prime minister’s electorate office in the Auckland suburb of Botany on Thursday morning.

A sign which reads ‘Trump War Minerals HQ’ with a cutout of a bald eagle preying on a Kiwi bird was also put up outside the office.

Greenpeace has claimed responsibility.

In a statement, campaigner Juressa Lee said they were protesting a potential deal for New Zealand to supply rare and critical minerals to the US.

She said a minerals deal would lead to more mining projects, causing “environmental destruction”, and also make New Zealand complicit in the war in the Middle East.

“We know a minerals deal would be bad for the land and sea of Aotearoa. But since the United States and Israeli governments launched a military attack on Iran in clear breach of international law, the stakes are even higher.

“We’re calling on Luxon to say no to a minerals deal with Trump. We’re also inviting the public to show their strong opposition to this deal if they’re concerned about complicity in warmongering and the exploitation of our environment for military aggression.”

Luxon has previously said New Zealand is among more than 40 countries talking to the US about supplying minerals, and no Cabinet decisions have been made.

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Helicopter sent to scene of crash in central Otago

Source: Radio New Zealand

RNZ / REECE BAKER

There has been a serious crash on the Cardrona Skifield Road.

Police were called to the single vehicle crash around 10.30am on Thursday.

St John have also sent a helicopter to the scene.

The Serious Crash Unit has been advised.

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New figures show slow growth in job market

Source: Radio New Zealand

The latest SEEK employment report shows job ads rose 0.9 percent in February. 123rf

A slow warming in the job market appears to be broadening out into a more meaningful market shift.

The latest SEEK employment report shows job ads rose 0.9 percent in February, the ninth consecutive monthly increase. It took annual ad growth to 12.2 percent, the strongest annual rise since 2022.

SEEK country manager Rob Clark said the growth was led by industries like construction, engineering and farming.

“If you track the last 18 months, we had a significant decline in job advertising, then it was pretty flat and now we’re seeing growth,” Clark said.

“What that says is that people are a bit more optimistic, they’re seeing some more growth opportunities, and typically that translates to hiring more people, and because we’re seeing it across most industries and most geographies, that implies that it’s a genuine market movement.”

The report shows there is less competition for the jobs being advertised, with applications per ad falling 2.4 percent from the month prior, off the peak seen in August last year.

Only a few sectors are in decline and they include retail and consumer products, as well as banking and financial services. All of the largest sectors saw improvement, according to SEEK’s report.

“The longer-term picture is roles in engineering, farming, construction, trades, healthcare are all growing at about 20 percent year-on-year,” Clark said.

“So they’re the key drivers of activity at the moment.”

Whether the momentum is likely to continue in the same direction is unclear, said Clark, although confidence could take a hit as a result of the Middle East conflict.

South Island regions still the engine driving jobs growth

The South Island showed some of the strongest growth year-on-year with Otago up 23 percent, Southland up 21.3 percent and West Coast up 20.9 percent and Canterbury up 20 percent.

“What we’re seeing is the South Island growing well ahead of everywhere else, and obviously they have a strong agricultural base,” Clark said.

“We’re seeing growth there driven by both a strong ag sector and population movement with a lot of internal migration from other parts of New Zealand to the South Island, because there are more opportunities there.”

Urban centres like Auckland and Wellington are showing little momentum, according to the SEEK report.

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Inflating cost of running a farm now structural – report

Source: Radio New Zealand

AFP / William West

The cost of running a farm in New Zealand is more than a quarter higher than it was before the Covid pandemic.

ANZ’s latest Agri Insights report, which analysed financial performance across more than 4000 dairy, red meat, kiwifruit, arable and pipfruit customers over five years, found farm operating costs across the board were 27 percent higher than before Covid.

This was driven largely by increased labour and input costs like fertiliser, and on-farm cost inflation becoming structural.

The gap between average farms and the top performers continued to widen, pointing to significant untapped productivity potential, with leading operators consistently generating materially higher earnings per hectare through system optimisation rather than expansion.

The report’s co-author and ANZ’s head of strategy and execution – business and agri Marcus Bousefield said it showed farms must lift productivity just to stand still.

“Really everything is up on that pre-Covid area in terms of costs. We’ve seen it as a structural shift as opposed to just being inflationary and moving with the inflation cycle.”

Despite having the largest cost increases – which was reflective of their labour-intensive nature and impacts of wage pressures during and after the pandemic – the report found both dairy and kiwifruit had some of the strong returns.

Total kiwifruit farm income rose 59 percent driven by the maturing of post-PSA plantings and higher orchard productivity, while dairy also saw higher earnings per hectare achieved through improved milk production per cow and better herd performance, rather than expansion.

Red meat farms had modest income growth, with a wide gap between top-performing operators who earned about 80 percent more per hectare than poorer-performing counterparts.

Pipfruit faced the most challenges, including labour shortages and multiple weather events.

Bousefield said the report showed the strongest performances were linked to reinvestment and commitment to improving productivity.

“You can look to the singular price in commodity prices being a key leader of performance but that is always outside of farmers’ control.

“It’s really the sum of the parts of all the other components that drive the topline revenue piece that has a bigger bearer on what we saw as performance of the top 25 percent.”

Bousefield said this included factors like the execution of buying and selling, crop management and animal efficiency, particularly in the dairy sector.

He said farming was multi-generational industry where decisions made today would pay off in later years. He said it was at a junction point where stronger markets, coupled with agritech advances provided opportunity to improve efficiencies on farm.

Bousefield cautioned that conflict in the Middle East would continue to create global uncertainty in the shorter term.

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Conan O’Brien funded Sona’s IVF, so she made him Godfather of twins

Source: Radio New Zealand

Sona Movsesian and Conan O’Brien are co-workers but also “just two people who really care about each other”.

Making the 62-year-old comedian a Godfather to her two sons was also a way to present them with someone who has a great work ethic and character to try and emulate, Movsesian tells RNZ’s Afternoons.

“Plus Conan loves the Godfather movie, I know it’s his favourite movie. When we asked him, my husband quietly put on the Godfather theme, and we said, ‘we want to ask you a question…’”

This video is hosted on Youtube.

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Crashes cost up to 70% more than expected, Transport Ministry finds

Source: Radio New Zealand

The Ministry of Transport currently factors elements such as road closures, emergency service response, and the social costs for the life lost into the total cost of a road fatality. RNZ

A transport consultancy firm says analysis of traffic data reveals the total cost of a crash is up to 70 percent higher that previously calculated.

The Ministry of Transport currently calculates the social cost of a road fatality at more than $15 million, which includes elements such as the road closure, emergency service response, and the social costs for the life lost.

But Abley Principal Transportation Planner Chris Blackmore told Nine to Noon data analysis shows that the impact of a crash on the overall road network is not factored into that calculation.

“There’s a lot of big immediate costs that we see when you look at the impacts of road trauma – be that FENZ, hospital admission, recovery costs.

“We do occasionally take into account any easily visible impacts of closing a road … but at the moment that’s only really included at a high level, and it ignores a lot of the secondary and following impacts.”

Councils and the Transport Agency had traditionally relied on physical equipment such as pneumatic road tubes to measure traffic data.

“That’s really what has prevented, up until now, having a more holistic view of the impacts of what we call network disruption.”

But a system called TomTom Area Speed enabled the analysis of more information, and more sophisticated data about the wider impacts crashes had, Blackmore said.

TomTom takes information from sources such as Apple, data from the cars themselves, and other apps motorists might be using to show exactly how widespread the congestion is, for how long, and what activities might be affected.

Blackmore provided the example of a crash between a bus and a car on Auckland’s Tamaki Drive, which closed the significant connection between the eastern bays and the city centre for more than 24 hours.

“What we could see with TomTom was that as that link closed, people had to find their way around.

“Say five O’clock, six O’clock in the morning, that’s all right … but what happens when you get into the peak hour … we see all of the other connections from the eastern bays massively overloaded.

The TomTom data showed exactly how people reacted to road closures, he said.

“Some people do u-turns, some people turn of earlier and try and get through some back roads, some people try to tough it out in the queue.”

When the data was added up, it revealed the overall impact the crash had on travel times, and the total disruption to the road network.

Crashes on rural roads also could carry a heavy unseen cost, Blackmore said, using the example of a crash on State Highway 6 near Kington in Otago.

“What we saw there was that travel time increases weren’t as significant because there’s not a heap of congestion. People could figure out that there’s a crash before they started driving down State Highway 6 and make their choices.

“But we did see hundreds of thousands of extra kilometres that people had to travel, and that has impacts on people’s lives and their routines as well.”

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Cost of driving 15km in Auckland nearly double that of public transport – AT

Source: Radio New Zealand

It’s now costing people nearly double to drive their own cars. RNZ / Cole Eastham-Farrelly

Public transport is nearly half the price of driving to work in Auckland as fuel prices surge amid the escalating conflict in the Middle East

It comes amid huge uncertainty on the price of petrol in New Zealand following Israel’s attack on the world’s largest natural gasfield in Pars overnight, AA is warning.

The attack has increased uncertainty and seen Brent Crude prices surge to $US110 a barrel by 11am on Thursday (NZT).

Auckland Transport said before the Iran conflict began late last month, the cost of public transport was roughly the same as the cost of driving a vehicle with single occupancy in Auckland.

It’s now costing people nearly double to drive their own cars.

“The cost of petrol has risen at least 50 cents per litre since then, with a 15-kilometre single person commute now costing roughly 80 cents per kilometre, which is equal to about $12 for the total trip.”

AT said this did not include any parking costs.

“On public transport, that same 15-kilometre trip would typically cost $4.90 and would be a significantly faster journey due to congestion and the availability of bus lanes, frequent rail and ferry services.”

“We can confidently say that the cost of driving 15-kilometres in or out of the city is now roughly double the cost of travelling the same distance by public transport.”

AT said the first week of March was the was the busiest for the public transport network this year with 2.217 million trips on bus, train and ferry services – up from 2.174 million trips, the same time last year.

It said this was likely just a result of more people using public transport rather than concerns over the cost of fuel.

However it expects the trend will continue upward as the fuel crisis developed.

Auckland Transport said despite big numbers of travellers, it has plenty of capacity across the network.

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Economy grew by 0.2 percent in last three months of 2025

Source: Radio New Zealand

RNZ / Quin Tauetau

  • Economy grows 0.2 pct in December quarter, 1.3 pct on year ago
  • Data at the low end of expectations
  • Previous quarter revised to 0.9 pct growth from 1.1 pct
  • Primary sector and tourism industries lead growth
  • Manufacturing flat, construction sector contracts
  • Data not likely to change Reserve Bank holding cash rate at 2.25 pct next month.

The economy posted tepid growth at the end of last year as the rural sector and tourism growth offset soft manufacturing and weak construction before the Middle East conflict threatened to stymie recovery.

Stats NZ data showed gross domestic product (GDP), the broad measure of economic growth, rose 0.2 percent in the three months ended December, to be 1.3 percent higher than a year ago. On an annual average basis, the economy grew 0.2 percent over the year.

Expectations were for quarterly growth in a range of 0.2 to 0.5 percent, although the growth of the previous quarter was revised lower to 0.9 percent from 1.1 percent.

Stats NZ spokesperson Jason Attewell said it was the first time the economy had posted annual growth in more than two years.

“GDP has now risen in three of the last four quarters.”

Turned the economic corner

The strongest sectors were primary industries, which grew 0.9 percent, and service industries, which make up about 70 percent of the economy and grew 0.7 percent.

Attewell said strong spending by overseas visitors in the quarter boosted a broad range of businesses.

“This flowed through to parts of the economy that service tourism, such as rental car hire, retail trade [and] accommodation.”

Exports of goods and services were up 0.1 percent, with higher meat and forestry exports offsetting lower dairy sales.

There were positive contributions from real estate and financial services, retail, recreation, and energy and water industries.

The main drag on growth was from construction, which was down 1.4 percent on the previous quarter because of a fall in non-residential building.

Individual shares of the economy – per capita GDP – were unchanged for the quarter, to be 0.4 percent lower than a year ago.

The country’s purchasing power (disposable income) was also flat for the quarter, but 1.5 percent ahead of a year ago.

Derailed recovery ?

The GDP reading has already been discounted by economists as historical information overtaken by the Middle East conflict.

The latest monthly partial monthly read on inflation and a further slip in consumer confidence driven by a surge in fuel prices are seen as pointers for future activity.

Forecasts before the hostilities were for a gradual pick-up in growth this year to more than 2.5 percent, rising towards 3 percent in 2027.

The Reserve Bank last month held the official cash rate (OCR) at 2.25 percent and signalled rates would be held at an “accommodative level” to support the economy.

Economists have highlighted the uncertainty caused by the US/Israel-Iran war and its ability to derail economic activity through higher inflation, disruption to supply chains, and dampening of household and business demand and activity.

New Zealand’s quarterly growth rate was the same as or close to those in the US, UK, EU, and Japan, but lagged Australia’s 0.8 percent.

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Rocket Lab wins record contract with US Department of War

Source: Radio New Zealand

Rocket Lab founder and chief executive Sir Peter Beck. Supplied / Rocket Lab

Rocket Lab has won a US$190 million (NZ$327m) contract from the United States Department of War, formerly the Department of Defence, for a series of hypersonic test flights using its HASTE launch vehicle.

It is the largest single contract in the NZ-founded company’s history and lifts its total order backlog to more than US$2 billion (NZ$3.44b).

The four‑year agreement covers 20 test flights of Rocket Lab’s Hypersonic Accelerator Suborbital Test Electron (HASTE) rocket, a modified version of its Electron launcher designed to carry suborbital payloads of up to 700 kilograms at speeds above Mach 5.

The launches will be carried out under the Multi‑Service Advanced Capability Hypersonic Test Bed (MACH‑TB) 2.0 programme – a partnership between the Department of War and the Naval Surface Warfare Centre Crane Division that aims to accelerate hypersonic flight testing and related technologies.

Rocket Lab has already conducted several HASTE missions since 2023 under the MACH‑TB programme.

Rocket Lab founder and chief executive Sir Peter Beck said the expanded partnership with the Department of War and MACH‑TB would help strengthen US national security by providing rapid and affordable hypersonic testing.

“Our advanced technology, responsive launch schedules, and mass production of our HASTE hypersonic rockets are enabling faster progress across a range of hypersonic experiments by our government and industry partners,” he said.

Sir Peter described the new deal as “another proud moment for the team that builds the strength and resiliency of the United States’ aerospace efforts”.

The contract takes Rocket Lab’s launch backlog to 70 missions, and the company has sold 28 launches in the first quarter of 2026 – almost as many as it sold during the whole of 2025.

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Vigilantes racially profiling Asian community at Auckland rockpools

Source: Radio New Zealand

Starfish at Army Bay. MARK LENTON / SUPPLIED

A week since a two-year harvesting ban on the Hauraki Gulf coast in north Auckland came into force, no fines have been handed out.

It is now illegal to take seaweed, shellfish, and other rockpool sea life from intertidal zones along the Whangaparāoa Peninsula, and further north at Kawau Bay and Ōmaha Bay.

Fisheries north regional manager Andre Espinoza said officers had “educational discussions” with six groups who were planning to harvest at the newly protected beaches this past week.

All were cooperative and unaware of the rules.

“You’re always going to have a few people who are unaware,” Espinoza said.

“There’ll be a very small minority that will just continue doing it anyway, and they’re the ones that are very much of interest to fishery officers.”

He said they had several conversations with people about taking seaweed.

“After a big storm, and seaweed has been washed up, you can take it if it’s above the high water mark. If it’s below the high water mark, it’s prohibited to take.

“People who take seaweed are across the spectrum, pretty much all ethnicities. People use it for gardening and various purposes.

“Seaweed has its place in the ecosystem, so it’s really important everyone sticks to the rules so we can see recovery faster.”

People harvesting sea life at Army Bay before the ban was introduced. Protect Whangaparoa Rockpools

He said racism, particularly targeting Asian communities, has been troubling.

“Some bus tour groups intercepted by very passionate locals looking to do the right thing were church groups, not there to gather shellfish but for a picnic. But because they were of a certain ethnic group, they’ve been challenged for being at that beach.

“There is a very small minority who take it too far and judge people based on their race. We have on a number of occasions had complaints saying a certain ethnic group has arrived at the beach, they must be doing something wrong.

“It’s something that I really struggle with on a personal level, the profiling and dehumanisation.”

He said Fisheries was focused on educating, not shaming. About 60 signs have been put up in the area, and the new rules are being promoted on social media platforms, including Facebook, RedNote, and Sky Kiwi.

He encouraged people to report any suspected illegal activity through the appropriate channels.

Protect Whangaparāoa Rockpools founder Mark Lenton said people using the rockpool issue to voice hate speech was shameful.

“It doesn’t help the cause. It doesn’t help the credibility,” Lenton said.

“Blaming any single ethnicity for what’s going on is just plain stupid.”

He believed it would take more than two years for the rockpools to recover and that it would be a long-term commitment.

“We need to discourage the promotion of this term called beachcombing, which actively encourages people to go to a beach and take whatever they can find whenever they can find it.

“That’s the attitude we need to shift, and that also is done through targeted education.”

Chief executive of the Ngāti Manuhiri Settlement Trust, Nicola MacDonald, applied for the ban. She said beaches were for everybody.

“It is not a vigilante witch-hunting exercise, because nobody wins out of that.

“People who may be indulging in harvesting like that will continue to take those practices elsewhere and harvest in areas that may not be protected, and we don’t want that.”

She called for more education, which was inclusive of Aotearoa’s diverse communities, so everyone could understand why people were concerned about the amount being taken from rockpools.

“We want people to understand these are species that we absolutely protect so that our children, our next generations, don’t have dead oceans.”

Sir Peter Blake Marine Education and Recreation Centre general manager Yuin Khai Foong agreed that education was crucial to protect marine life across the country.

“We have this displacement effect that kind of says, well, if we can’t collect here, then a very natural and understandable human response to that is to go somewhere else. That’s because legislation has boundaries.

“Education doesn’t really have boundaries. So it’s a really good complement to legislation, if we understand why the legislation had to be put into place and why the marine ecosystem is so important.

“It’s about people understanding what a rockpool actually is, what the species are, how they work together, how the whole ecosystem functions, and that the health of the ocean ultimately is going to impact the health of humans.”

But he said a kind approach was needed to raise awareness.

“As a migrant from Southeast Asia, a lot of my views on conservation have been through fundamentally my parents, understanding why we made the move to New Zealand and how special New Zealand is as a country and celebrating all those things.

“And then having the lived experience that I’ve had of engaging in natural spaces and engaging in the ocean, reinforced why our country is so special and why it’s so important that we take care of it.

“If we don’t take care of it, we’ll lose it.”

Meanwhile, Luella Bartlett, from the community group Protect Piha Rockpools, said harvesting on Auckland’s West Coast had not slowed down, and a similar ban was desperately needed for places like Muriwai, Bethells, and Piha.

She said if harvesting continued at its current rate, they would not only lose species like green shell mussels, but the snapper that fed on them.

Racism had also been an issue there.

“People are making assumptions that aren’t necessarily true. It’s causing huge social problems.”

She said a two-year ban was their best course of action, and her group had been talking to the local iwi about applying for one.

Suspected illegal harvesting or fishing activity can be reported to the toll-free HOTLINE at 0800-4-Poacher (0800-476-224).

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All bets off over NZ petrol prices after Iran gas field strike, AA says

Source: Radio New Zealand

RNZ / Dan Cook

All bets are off on the price of petrol in New Zealand following Israel’s attack on the world’s largest natural gasfield in Pars overnight, AA is warning.

Brent Crude prices have surged since the attack, climbing to $US109 a barrel by 9am on Monday (NZT).

AA’s transport policy adviser Terry Collins says the move from military to economic targets marks an escalation in the war that will drive up the price of oil and petrol.

Pars is the Iranian sector of the world’s largest natural gas deposit, which Iran shares with Qatar across the Gulf.

Iran has vowed to retaliate.

Collins told Morning Report after prices appeared to stabilise on Wednesday, they were once again uncertain.

Israel’s attack marked the first reported strikes on Iranian energy infrastructure in the Gulf during the US-Israeli war, a major escalation that prompted Tehran to warn its neighbours that their energy installations would be targeted “in the coming hours”.

Oil prices shot up after the attack in a conflict that has already halted shipping from the world’s most important energy-producing region and could now bring lasting damage to its infrastructure.

Before the overnight attack, Finance Minister Nicola Willis said she was looking at targeted, temporary support for some households if the Middle East conflict worsened.

She said the help could be available, for example, to a cleaner needing to drive to work early in the morning when there was no public transport – a proposal welcomed by E tū union member Ayesha Paki.

She has a 30-minute drive, six days a week, to her job at Auckland Airport.

“Everything is expensive and now the petrol has affected all of us cleaners and low pay workers. We are so worried,” she said.

Willis said the government was “anticipating, and to the extent possible mitigating the impact on the New Zealand economy, including what could potentially be acute cost of living pressures for some households”.

Westpac chief economist Kelly Eckhold said if the crisis were to continue, the price of oil could hit US$200 a barrel, which would take retail petrol prices past $4.

More to come…

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‘Colonial-style arrogance’: China unhappy with NZ-Australia statement

Source: Radio New Zealand

author:rnz digital reporters_]

The Chinese Embassy. RNZ / REECE BAKER

The Chinese Embassy says New Zealand and Australia’s recent comments on China are unwarranted and inappropriate, accusing the nations of “inexplicable colonial-style arrogance”.

Australian Deputy Prime Minister and Minister for Defence Richard Marles and Minister for Foreign Affairs Penny Wong hosted New Zealand Minister of Defence Judith Collins Minister of Foreign Affairs Hon Winston Peters MP on 17 March in Canberra.

Earlier this month, Australia raised concerns with China after what it called an “unsafe and unprofessional” close call between two military helicopters.

In a joint statement on Tuesday, the two defence ministers called behaviour by China in the South China Sea “unsafe and unprofessional”.

They “reiterated concerns about the intensification of destabilising activities and instances of unsafe and unprofessional behaviour by China in the South China Sea”

Ministers also expressed concerns about human rights violations in Xinjiang and Tibet, and Hong Kong authorities’ targeting of pro-democracy activists within Hong Kong and overseas.

The embassy said it firmly denied the allegations. It says those issues are China’s internal affairs and they would not accept international interference.

New Zealand and Australian ministers also called on China to use its influence to stop Russia’s war on Ukraine.

“The statement overlooks the root cause of the ongoing military actions in the Middle East conducted in blatant violation of international law and the basic norms governing international relations, which have resulted in civilian casualties and disruptions to the global economy,” a spokesperson for the embassy said.

“It also remains silent on the two countries’ own poor records concerning human rights and ethnic minority issues.

“Instead, it contains unwarranted, inappropriate, and extensive comments on China’s internal affairs. As a Chinese saying goes, one should first ensure one’s own conduct is beyond reproach before criticising others.”

The embassy blamed other nations for tensions in the South China Sea, reiterating China’s claim over Taiwan.

“A small number of extra-regional countries have travelled vast distances to the South China Sea to engage in shows of force and deliberately stoke tensions under various untenable pretexts, thereby serving as a primary source of instability in the region.”

The embassy said the comments damaged the countries’ relationships with China.

“We urge the New Zealand side to take a clear-eyed view of the prevailing situation, to approach China’s development and the China-New Zealand relationship in an objective and impartial manner, and to work in the same direction as China – doing more to build mutual trust and advance practical cooperation.”

Collins brushed off China’s comments.

“When China sent its task group down to the Tasman Sea, circumnavigated Australia as well, did live firing, interrupted… around 50 civilian flights to New Zealand, we upheld China’s right to use international law, the UN Convention [on] the Law of the Sea, to be in that area,” she told Morning Report on Thursday.

“And what we’ve simply said is, ‘Please give us more notice if you’re doing low firings, because civilians don’t like…having to be diverted like that.’ It’s very similar in terms of the Australian recent transit that they did up north.

“They were very concerned about some of the behaviour towards them. I think it’s always important to avoid miscalculation when it comes to aircraft, ships, and people.”

She was not concerned about being called names, saying she had been “called a lot of names in politics”.

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Call for low-emission zones in Auckland

Source: Radio New Zealand

Traffic jam in Auckland. 123RF

Health researchers are calling for policy changes to combat air pollution in Auckland, saying traffic is silently killing locals.

More than 700 Aucklanders die every year from air pollution from traffic, compared to 2000 deaths nationally, according to a new report by the University of Auckland.

It’s similar to the number of people who die from smoking cigarettes, with almost 4000 more ending up in hospital, the report said.

Dr Jamie Hosking, a public health researcher at Waipapa Taumata Rau University of Auckland, said petrol and diesel burn produce the gas nitrogen dioxide and small particles of soot, smoke, dust and chemicals.

“Those particles are really, really fine, so we can’t see them,” Dr Hosking told Morning Report. “But because they’re so fine, they get right down into our lungs and cause damage there, and can even get through into our bloodstream and cause inflammation there and give us problems such as heart disease, strokes, lung cancer and in our kids, asthma as well.”

Dr Hosking said it is really difficult for individuals to combat air pollution.

“We can’t avoid breathing in polluted air. The solution here is with our councils and with the government,” he said.

The report outlines several solutions on both a national and city level, such as investing in better public transport, raising vehicle emission standards, improving air quality monitoring and introducing equitable congestion charges.

Dr Hosking said central cities around the world, such as London, have implemented low-emission zones, which means only the cleanest cars can come into central city areas.

“That’s been really effective at lowering air pollution and giving them cleaner air,” he said.

“That’s really good for people’s health and something that we could be putting in place in Auckland.”

The report would be presented to Auckland Council’s Transport Committee, where researchers will call for urgent action towards the city’s air pollution.

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Families open up homes to homeless teens under The Safety Net programme

Source: Radio New Zealand

[brightcove]https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6391056234112

When Auckland couple Sue and Tony Kerr first opened their door to a homeless teenager as part of an organised programme to shelter young people in crisis, they were nervous about how it would go.

They are retired and worried the generation gap might prove problematic, that their home cooking would be left uneaten and that their things might be stolen.

“I was worried about security, needlessly, and that they might take anything that was precious to us and we haven’t found that was an issue,” Sue said.

“They always joined us for dinner … ate lots of vegetables so it was fine.”

They are one of six host homes in west Auckland in a programme called The Safety Net, who house homeless rangatahi to get them off the streets while more permanent housing is found.

It was working so well the programme was looking to expand into other parts of the city.

A recent report by youth support organisation Kick Back found teen homelessness was getting worse, with 22 percent of young people sleeping rough when they first sought support.

The Kerrs lived in Hobsonville and in between grandchildren’s visits they had so far had eight young people stay.

“It’s definitely given me more compassion and understanding about the problem and the need. If you can just help them this short time, all eight of them have apparently been helped into better accommodation. It’s just great to know we’ve helped.”

They had been hosting homeless young people for over a year – often for just a week at a time – one young man even stayed during Christmas 2024.

“I was putting up the Christmas tree which of course our sons always used to do … and I asked him if he’d like to join in and he had never decorated a Christmas tree before and I thought that is so sad he loved doing it, he was very proud of the outcome.”

They first heard about The Safety Net through their church, had a spare room and said they strongly felt it was something God wanted them to do.

Sue and Tony Kerr, host family for The Safety Net. RNZ / Marika Khabazi

Tony said having young people stay had opened his eyes to their struggles.

“The benefit has been benefiting them. It’s given me greater insight into what goes on that we didn’t have before.”

Josh Hendry oversaw The Safety Net and said since it began two years ago they had found stable housing for 36 rangatahi who were hosted by families short-term, just a few nights or a week.

He said often teenagers had left home due to a family breakdown, whether that was violence or substance abuse or even just a lack of beds for families living in poverty.

Hendry worked closely with his brother Aaron who ran the youth advocacy organisation Kick Back, helping young people off the streets.

“There’s very little youth specific housing for our young people but one significant gap that we’ve seen is for 16 and 17 year olds, where their reason for experiencing homeless might be to do with a family breakdown for a variety of reasons.”

He said it could take up to eight weeks for a young person in that situation to access government support, through the Youth Payment.

“In the meantime, how do we expect a young person to access housing when they can’t actually have the financial support when they need it.”

He said The Safety Net had six host homes, which included families, couples and singles, and wanted to expand in other suburbs by partnering with organisations. It was funded through grants and the hosts were volunteers.

Hendry said there was an extensive sign-up for host families to ensure they matched the tikanga of the programme, as well as police and reference checks.

He said they took care to match young people with suitable host homes, ensuring ongoing support for both the young person and hosts who also came from a variety of backgrounds.

“One of the big concerns is people have a lot of stigma around our young people and they’re actually just like any other young person. The potential with The Safety Net is we can intervene early, we can prevent our rangatahi from having a long term experience of homelessness, from experiencing all of the trauma that comes with that.”

Hendry said all the young people who were in education and hosted in homes were able to maintain their schooling, more than 80 percent had been housed and 30 percent had safely reconnected with whanau.

“We’ve seen amazing outcomes for our young people. When we provide an immediate safe, supportive caring place for our young people right when they need it most the ability to really change the trajectory of where that could have gone.”

He said the government’s proposal to give police more power to move on those rough sleeping or begging in public, from the age of 14 years old, was concerning because young people travelled to the city to access support.

“A lot of the young people we work with, even out west, will go to the city centre to get support so they’ll go to places like the Front Door or Rainbow Youth.

“The Safety Net is a direct solution to that. Rather than punishing people for being in the situation they’re in, if we actually provide them support we can really see that change.”

Massey Community Trust general manager Josh Hendry. RNZ / Marika Khabazi

No longer homeless

Late last year, Tina spent two weeks living in an alleyway while still attending high school because she had been kicked out of home.

She is 17 years-old and said it was a sensitive situation and she spent a few nights staying with a friend but was too ashamed to ask for help.

“I was very ashamed and embarassed to tell people that I was quite homeless during that time.”

So she sought shelter where she could hide – no one knew she was there.

“I was staying in my alleyway for two weeks and then that’s when I got tired of living that kind of life, I really did need help so I went to my school teacher and told her what happened and that’s when I found out about The Safety Net.”

Tina was placed with a host home where she stayed a few nights.

“I actually opened up to them, the host family that took me in. They were very sweet I loved them I really miss them as well.”

She said The Safety Net helped her to find a flat and she was now studying at tertiary level.

“It helped me build so much confidence in myself and now I’m doing everything that I love to do … I’m happy where I am now.”

Tina wanted to encourage other young people struggling with homelessness to ask for help.

“It’s always good to ask for help, it’s the bravest thing that you could do. One of the bravest things that I have accomplished was to ask for help and I stopped being embarassed.”

Another 17 year old, Mae, left home to escape escalating domestic violence last year and sought refuge at a hospital’s emergency department.

She said they let her sleep on a bench for a few nights while a social worker tried to find her somewhere to go but there was a lack of housing.

“The options were that I would have to sleep on the street and risk my safety or I would have to go back to the house I left and pretty much go through hell again.”

Mae said The Safety Net stepped in and gave her hope – she spent her first night with a host home in her room because she was so nervous but quickly found her feet.

“Being in a stable environment, it made me realise what I went through at my old house wasn’t normal. I realised what safety feels like and it was actually the first time I relaxed,” she said.

Mae was now living in stable housing with others her age, studying at tertiary level.

“Honestly it’s healing, I can imagine if I hadn’t have left home I wouldn’t have gotten as far as I have now.”

The hosts

In the last year, Ottolien Pentz had hosted six young people in her spare room, usually for less than a week each time.

She fostered about 25 children when her own were growing up and said teenagers were actually easier to have because they could voice their thoughts.

Each time she got a knock at her door, Pentz knew the young person would be feeling nervous about staying with a stranger.

“Most of them after a little [while] would say ‘I thought it would be really scary and I wondered if I would be safe’ and it’s a lovely surprise that they were safe and that there’s goodness in the world.”

Pentz said The Safety Net helped her as a host to set reasonable boundaries and whare rules that she talked the teenagers through when they arrived.

And she told them she would like them to rest and think about their next step, what they would like out of life.

“One of them said I felt cared for for the first time … and that I’m valuable enough that I can want good things,” Pentz said.

“Just for a few days there was none of the negative things in life. That’s what makes me sad, some people’s lives are in such a discombobulation that simple things are big things.”

Sue and Tony said they could get called at short notice to host a young person and that had been challenging because they liked to plan ahead.

But they wanted to help the teenagers who had no-one else to rely on – they said one of their sons experienced mental health issues and would unlikely have survived had it not been for their stable family home.

“It’s just tragic really, one young person said that at home they didn’t get enough food … they didn’t on the whole talk about the worst of the trauma but it is just so sad,” Sue said.

Hendry said they would like more host homes to come on board because having a stable roof, even for a few nights, gave young people a fresh perspective.

“One young person told me how she’d stayed in her room all night but she’d just stayed awake listening to the whanau laughing and having fun in the kitchen, because for her that was something she hadn’t really experienced.”

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Whatever happened to NFTs?

Source: Radio New Zealand

Bored Ape / Nike / Beeble / Cyber Cosmos

Four years ago, non-fungible tokens (NFTs) were everywhere.

The tokens, which provide digital ownership of an asset, often art, were being traded and promoted by celebrities in New Zealand and around the world.

Former All Black Dan Carter co-founded Glorious, to help artists sell their digital art in the form of NFTs. Rich-lister Craig Heatley reportedly invested.

Brooke Howard-Smith co-founded NF Labs, with a series of Fluf World NFTs, and at one point partnered with rapper Snoop Dogg.

But while it was reported that more than US$2.7 billion in NFTs was being traded at the peak of the market, it now looks like quite a different picture.

In 2023, researchers said, across 73,000 NFT collections, 95 percent were valued at zero ether – the ethereum cryptocurrency used to buy them.

The Bored Ape Yacht Club collection, which Justin Bieber is reported to have spent more than US$1m for a slice of, is estimated to be down 97 percent from its all-time high.

CryptoPunks are down 89 percent. Mutant Ape Yacht Club is down 98 percent.

Forbes said this week Bored Ape Yacht Club had a floor price of US$12,000 – down from a peak of US$394,764.

University of Otago senior lecturer Olivier Jutel said the drop had been dramatic.

“There is myriad reasons for that but essentially if I had to put it in a nutshell, people have been grasping around for some essential use chain for the blockchain. And Web3 and NFTs were the most frothy sort of future vision here.”

He said it was unlikely there would be a resurgence.

“I really don’t think so … Facebook spent $40 billion on the metaverse … but nobody wanted this.

“Essentially our economies are so bedazzled and captured by number go up, valuation, financialisation, that it’s so unmoored from the real economy.

“I know the real economy could be a problematic concept, but crypto, blockchain and Web3 are the height of this kind of complete detachment.”

But University of Auckland commercial law professor Alex Sims said the underlying technology of NFTs could still be useful, even if NFTs had been overhyped.

“[You] can make a loose analogy with NFTs and the dotcom bubble.

“Lots of enthusiasm, massive bubble but the underlying tech and infrastructure was built, as well as the beginning of a culture shift … Although, unlike the dotcom bubble it’s unlikely that many NFT projects will grow to large ones, unlike say Amazon, Google, Netflix, eBay …”

She said some NFTs still had value but many did not.

“They aren’t worth the stupid money that people were paying for them … a lot of the big name NFTs are worth a fraction of what they were bought for if people bought them at the top of the market.

“But many are still worth money, just a lot less than some people paid for them.”

She said Damien Hurst’s The Currency project and its Tender NFTs could have more lasting value than some other NFT projects because they had a famous artist behind them.

“While the Tender NFTs have fallen from around US$29,000 in February 2022 to about US$1880 each, if people bought the NFTs directly when they released for US$2000 – then they haven’t lost that much money, just over 10 percent.

“As I said quite a few times at the time of the NFT bubble. Only buy an artwork NFT if you like the artwork or you want to support the artist. Don’t buy them for speculation as you are likely to lose your money. And I’ve predictably been proven right.”

Swyftx NZ country manager Paul Quickenden said there were a few things people could think about if they were weighing up similar new investments that might pop up in future.

“I think that the key tenets are always the same … is there a good sound business case or use case for the project or whatever they’re trying to do?

“Can you identify the team and are they reputable? Does what they’re trying to do make sense?

“It’s also a question of time. In any transaction, there’s a buyer and a seller. And the seller is thinking that the time is right to get out.

“And the buyer is thinking there’s more opportunity for it to go up. And only one of those two people are going to be right.”

He said just because people were “piling in”, it did not mean it was a good time to buy.

“You have to evaluate the project, but also just what’s going on in that market? Because if it feels very frothy, then there’s a really good chance that, you know, you might be caught up in a wave that’s going to crash.”

Glorious and NF Labs have not yet responded to requests for comment.

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