AGP Executive Report

Telecommunications Manufacturing: Tait Communications has opened a multi-million-dollar Christchurch testing lab, with a specialist chamber offering capabilities not available elsewhere in New Zealand. Energy: Monumental Energy plans to take a stake in the onshore Maata oil field in Taranaki, near existing production facilities; meanwhile, the Government has extended its strategic diesel reserve to August 2027. Maritime Technology: Ocius has opened an Auckland maintenance base for the Navy’s Bluebottle uncrewed vessels and is recruiting engineering staff. Construction: Fletcher Building reported higher first-quarter volumes, though residential work lagged. National construction activity rose 2.7% in the June quarter, and new-home consents were up 21% in the year to August. Mining: Resources Minister Shane Jones says the Government may refine fast-track rules, arguing the process is holding up projects.

Fuel Security: The Government has extended its 550,000-barrel strategic diesel reserve at Marsden Point until August 2027, citing diesel’s importance to farms, freight and other essential services. Business Conditions: Company distress remains high: 1,072 winding-up applications were filed by the end of September, the most for that period in a decade, and insolvency appointments are on track for their highest annual total since the global financial crisis. Food Innovation: The planned closure of Palmerston North’s FoodHQ research hub has drawn concern that New Zealand could lose capacity to develop food products and technology, including emerging proteins and aquaculture. Primary Sector: Tora Collective’s sustainably harvested, caught-to-order wild crayfish won gold in the New Zealand Food Awards’ Primary Sector category; judges also praised its use of producer-harvested seaweed packaging. Water Services: Watercare apologised after a billing error prematurely deducted more than $6 million from nearly 44,000 customer accounts.

Markets: The NZX 50 fell 0.6% as weakness spread across Asia. PGG Wrightson rose after lifting its earnings outlook, while SkyCity advanced after securing the right to apply for an online casino licence. Maritime Technology: Australian firm Ocius has opened a New Zealand facility to maintain the Navy’s Bluebottle surveillance vessels, supporting local technical jobs and fleet availability. Transport and Activity: Heavy vehicle traffic rose 2.2% in September, a sign freight activity rebounded after a weak August; light traffic also increased but remained below year-earlier levels. Telecommunications: Australia’s GenusPlus is set to acquire New Zealand contractor UCG, which works on Chorus’s fibre network, in a deal expected to add to earnings. Agriculture and Exports: New Zealand food and fibre exports have reached a record $65.2 billion, while dairy and meat prices are lifting rural confidence. Energy: ASB says energy costs are now the second-biggest concern for New Zealand businesses, with one in three firms raising prices.

Economic Development: The Greens’ proposed $5.9 billion plan aims to add 64,000 jobs over four years, including through higher research funding, clean-energy investment and support to commercialise Kiwi innovation. Aluminium Industry: A ministerial decision not to safeguard imported extrusions drew a sharp response from an industry group, which says imports have risen 34% this year and local processors and jobs are at risk. Aged Care: Heritage Lifecare is expanding its national network with the purchase of New Zealand Aged Care Services, adding 15 care homes, eight villages and 926 beds. Agriculture: Rural confidence is recovering as milk and meat prices strengthen, while food and fibre exports have reached a record $65.2 billion. Clean Energy: A Christchurch company has developed a new solar battery and installed one for a major Australian customer, showcasing local technology with export potential. Business Costs: Energy costs remain a major concern for New Zealand firms, with an ASB survey finding they are the second-biggest worry and a third of businesses have lifted prices.

Trade and Energy: China says it is ready to deepen services trade with New Zealand and expand cooperation in electric vehicles, solar and wind power. Markets: The NZX 50 rose 0.6% as falling oil prices and bond yields lifted major shares, including Fisher & Paykel Healthcare and Infratil. Air Freight: Texel Air has added a Boeing 737 freighter in New Zealand, citing demand for capacity and more flexible links between freight hubs and regional destinations. Wine: Treasury Wine Estates is selling Rosemount, Ingoldby and Secret Stone to the Oatley family as it narrows its portfolio; Rosemount returns to the family that founded it. Farm Sector: Food and fibre exports have reached a record $65.2 billion, while a separate report says half of New Zealand farms have lost mobile coverage across most of their land since the 3G shutdown. Fuel Costs: Petrol has hit record highs, adding pressure for businesses and households as crude producers and refineries benefit from elevated prices.

Fuel Costs: 91 petrol has averaged $3.60 a litre, with crude producers and refiners benefiting most from the price surge; higher fuel costs are adding pressure for businesses and households. Workplace Safety: A roofing company was sentenced after a worker fell seven metres through a fragile roof panel, with WorkSafe citing failures in risk assessment, training and supervision. Agriculture: Pāmu’s first Foundation Scholarship will support a Taranaki student aiming for a career in animal science. New Zealand and Mongolia also discussed cooperation in sheep farming, meat exports and renewable energy. Exports and Logistics: Food and fibre exports have reached a record $65.2 billion, while a new intermodal freight hub at the Port of Tauranga adds capacity to the supply chain. Farm Resilience: National has pledged fertiliser security deals and $300 million in water-storage loans, while new reporting suggests half of farms have lost mobile coverage across most of their land since the 3G shutdown. Manufacturing and Innovation: Plans to turn waste wood into biochemicals and biofuels are gaining attention, even as Lawter prepares to close its Mount Maunganui manufacturing plant.

Freight & Logistics: 3 Islands Intermodal has opened a major freight hub at the Port of Tauranga, strengthening capacity at a key export gateway. Jobs & Skills: NZIER says youth unemployment has reached a crisis level, with young jobseekers shut out as AI looms over the recovery. Primary Industries: National is proposing fertiliser security deals and $300 million in water-storage loans. Federated Farmers says the water scheme should go further; meanwhile, Tatua has reported a record shareholder payout as primary industries lag in adopting AI. Energy & Transport: Petrol prices have topped $3.50 a litre, alongside a reported 206% surge in EV registrations. Construction: Work has begun on the country’s highest road bridge at Waikare Gorge, as building costs rise sharply.

Youth Employment: NZIER says unemployment has reached 25.3% for 15- to 19-year-olds and 12% for 20- to 24-year-olds, warning that an economic recovery may not be enough as AI adds uncertainty to job prospects. Freight and Logistics: 3 Islands Intermodal has opened a new hub at the Port of Tauranga, bringing staff together to strengthen its regional freight base. Texel Air has added a converted Boeing freighter to its New Zealand operation, with another due in January; its Auckland- and Christchurch-based aircraft carry cargo for NZ Post and Freightways, as well as fresh produce and e-commerce goods. Agriculture and Water: National is proposing fertiliser security deals and $300 million in loans for water storage, while Federated Farmers says the scheme should go further. Exports and Business Costs: New Zealand’s food and fibre exports have reached a record high, but a business survey identifies energy costs as a major concern.

Farm Security: National has proposed negotiating fertiliser supply agreements and offering $300 million in low-cost water-storage loans if elected, alongside a $10 million fund to support domestic nitrogen production. Business Costs: Energy has become New Zealand firms’ second-biggest concern, an ASB survey found, with a third raising prices to manage the pressure. Food and Fibre: Exports reached a record $65.2 billion, while Tatua reported a record payout to shareholders. Zespri is also weighing changes to its China supply model as Chinese-grown kiwifruit competes with New Zealand fruit. Wine: New Zealand wine exports rose 6%, adding momentum for the sector. Vehicle Market: Petrol’s rise to $3.35 a litre coincided with a 206% year-on-year surge in EV registrations in the third quarter.

Business Costs: Energy is now the second-biggest concern for New Zealand businesses, an ASB survey found, with a third reporting price increases. Food and Fibre: Exports reached a record $65.2 billion, while sheep and beef farmers face strong meat prices but continued pressure on wool. Farm Infrastructure: National is promising $300 million in low-cost loans for water-storage projects if re-elected. Federated Farmers welcomed the plan but says government seed funding is also needed to get construction under way. Fisheries: National proposes a new Waiheke marine reserve, an expanded Goat Island reserve and a review of bottom trawling, alongside a $20 million fund for fishing technology. Power Resilience: Mahurangi residents are seeking alternatives to diesel backup as outages disrupt homes, water and sewerage; Vector says $13 million of resilience investment is under way. Electrical Safety: MBIE has restored a ban on certain changes to mains earthing systems after inspectors warned of potentially lethal risks.

Agriculture and Exports: New Zealand’s food and fibre exports reached a record $65.2 billion, while wine exports rose 6%. National has pledged $300 million in low-cost loans for farm water storage if elected. Energy Costs: More than two-thirds of businesses say energy costs are a concern, and nearly one-third have raised prices in response, an ASB survey found. One in five reported cutting production or hours. Infrastructure and Construction: A proposed $500 million dry dock has backing from residents but faces calls to move it away from homes; residential building costs also climbed sharply in the third quarter. Industry: Lawter plans to close its Mount Maunganui manufacturing plant, with Whareroa Marae welcoming the change. Renewables: Lodestone Energy is adding business customers to its solar portfolio, while a new solar and battery project for Masterton has secured a long-term partnership.

Financial Regulation: The FMA cancelled Sydney-based auditor Scott Bennison’s New Zealand licence, citing failures to meet conditions while reviewing Greenfern Industries’ 2024 accounts. Wine and Food Exports: Wine export volumes rose 8% to 306.2 million litres, earning NZ$2.108 billion, even as the 2026 grape harvest fell 15%. Food and fibre exports hit a record NZ$65.2 billion, up 8% in the year to June. Farm Investment: National says it would negotiate fertiliser supply agreements and offer $300 million in concessional loans for water storage if re-elected. Industrial Energy: Lodestone Energy signed electricity supply deals with Briscoe Group and Farro, adding to demand for renewable power and more predictable costs. Maritime Infrastructure: Residents support a proposed $500 million Northland dry dock but want it moved farther from homes; the project is being fast-tracked and has $100 million set aside from the Regional Infrastructure Fund. Manufacturing and Skills: Lawter plans to close its Mount Maunganui manufacturing plant, while Massey University will add 15 domestic veterinary places a year from 2027, backed by a $6 million government grant.

Energy: New Zealand’s push to ease energy constraints is sharpening the focus on supply, with offshore gas investment and faster development among options in the policy debate. Renewables: Yinson Renewables has secured about NZ$290 million in financing for its 94.6MW Mt Cass wind farm, under construction on the South Island and expected to power about 40,000 homes from 2028. Freight and ports: InfraRed has agreed to buy logistics operator C3, whose 15 New Zealand and Australian sites handle about half of the country’s log exports and half of containers at the Port of Tauranga. Technology: The new chief executive of the New Zealand Institute for Advanced Technology, Roman Reyhani, brings experience commercialising technologies across energy, mining, advanced manufacturing and AI. Meanwhile, New Zealand’s primary industries are lagging in AI adoption, raising questions about how quickly the sector can capture productivity gains. Business costs: Residential building costs rose sharply in the third quarter, adding pressure for construction firms and projects.

Technology: The new New Zealand Institute for Advanced Technology has appointed Roman Reyhani as chief executive. His experience includes commercialising technologies in energy, mining, manufacturing and AI. Retail: The Commerce Commission is taking PD Mart to court, alleging it sold 57 types of non-compliant products, including children’s goods and car seats. Aviation: Labour has pledged all-in airfare pricing, automatic refunds for major cancellations and fairer airport access for smaller airlines if elected. Infrastructure: Construction has begun on a 260-metre bridge over Waikare Gorge, set to become the country’s highest road bridge; completion is expected within four years. Logistics: Infrastructure investor InfraRed has agreed to buy NZ-headquartered C3, which handles about half of New Zealand’s log exports and operates 15 port and inland sites across New Zealand and Australia. Food and farming: Canterbury’s Gladfield Malt has bought the former Malteurop site in Ashburton, retaining its staff and securing a key grain-handling asset. Meanwhile, a survey found only 9% of primary-industry businesses feel ready to adopt next-generation AI, with skills shortages a major hurdle.

Markets: The NZX 50 fell 0.1% as oil prices and bond yields rose. Freightways was hit by higher fuel costs, while Infratil’s CDC data-centre valuation was trimmed on the higher-rate outlook. Packaging: Opal has completed the sale of its bags business, including its New Zealand operation, to Bag Solutions Partners. The NZ business will transition over coming weeks, with no production interruptions expected. Forestry technology: Christchurch firm’s 160kg AI-powered drone is due early next year, targeting wilding pines and other invasive plants with automated spraying. Cyber security: The National Cyber Security Centre reported 92 incidents needing specialist support in the second quarter, up from 77 in the first, despite overall reports remaining steady. Climate and farming: New Zealand recorded its highest greenhouse-gas concentrations yet in 2025, as temperatures and glacier loss add to risks for agriculture and other industries.

Climate & Energy: New Zealand’s greenhouse gas levels are at record highs, with a new report warning of more intense heatwaves and major glacier melt risk, a shift already affecting nature, communities and business planning. Banking Competition: Labour says it will make it easier for new players to challenge the big four banks, proposing an e-money licence, fair access to payments infrastructure, and a 24/7 real-time payments system by 2030. Small Business Costs: National unveils a 47-point small business plan aimed at cutting compliance burdens, including first-employee support, simpler seasonal hiring, and faster minor employment dispute pathways. Transport & Aviation: Air New Zealand’s Napier approach incident ended safely after a mayday linked to nose-wheel steering; passengers disembarked normally and the aircraft will be assessed before returning to service. Defence Manufacturing: Nioa and Macrodyne Technologies explore munitions manufacturing opportunities, focusing on advanced filling tech and pressed explosives capabilities. Retail & Consumer Tech: Visa research finds rising stablecoin interest in Asia Pacific, but low understanding and trust remain barriers. Hospitality & Jobs: CityFitness plans up to $100m expansion with as many as 50 new clubs and up to 1,000 jobs, including women-only gyms. Aviation Security: Police confirm a Flydubai co-pilot accused in a hijack attempt spent part of his flight training in New Zealand.