PM Edition: Here are the top 10 business articles on LiveNews.co.nz for May 17, 2026 – Full Text
1. Global Trade – What Trump and Xi chose NOT to say on trade will worry global markets – deVere Group
May 16, 2026
May 15 2026 – Donald Trump leaves Beijing declaring success after two days of high-level talks with Xi Jinping, but the absence of concrete detail from the summit between the leaders of the world’s two largest economies is where investors should focus their attention, according to Nigel Green, CEO of deVere Group.
“The headlines sound reassuring, but the substance underneath them remains remarkably thin.
“Markets heard promises of stronger ties, major purchases and stabilised relations. What they did NOT hear was, perhaps, far more important.”
Trump claimed China would buy 200 Boeing aircraft, alongside significant increases in purchases of US agricultural goods and energy exports. Yet no formal agreement has been released publicly by Beijing, no timetable has emerged, and no financial framework has been disclosed.
“Global investors are being asked to price optimism without documentation,” notes the deVere CEO.
“Aviation orders, agricultural commitments, and trade pledges only matter if there’s enforceable detail attached to them. Right now, there’s very little of that.”
US-China trade exceeded $575 billion last year despite years of tariffs, export controls and strategic hostility.
China remains central to global manufacturing supply chains, while the US remains one of China’s most important export destinations. Financial markets have been desperate for signs that tensions between Washington and Beijing are easing in a meaningful way.
Nigel Green argues the summit delivered optics rather than resolution.
“Unfortunately, there was no serious public breakthrough on tariffs, semiconductors, export controls, rare earth minerals or industrial subsidies,” he says.
“Those are the core disputes shaping the economic relationship. None of them disappeared because the language between the two leaders softened.”
Rare earths remain among the most strategically sensitive issues.
China controls roughly 70% of global rare earth production and close to 90% of processing capacity. Those materials are essential for semiconductors, EVs, military systems, aerospace manufacturing and advanced tech infrastructure.
Yet despite months of pressure from US industry groups and mounting concern over supply-chain vulnerabilities, the summit produced no detailed framework around future access or export guarantees.
“Rare earths sit at the centre of the global industrial race,” explains Nigel Green. “Washington wanted stability. Markets wanted visibility. Neither emerged from Beijing.”
Semiconductors represent another major silence.
The US continues restrictions on advanced AI chip exports to China, while Beijing accelerates efforts to build domestic alternatives and reduce reliance on American tech.
The deVere chief executive says the omission carries enormous implications for investors globally.
“AI has become one of the most powerful investment themes in the world economy,” he says.
“But the infrastructure behind AI is increasingly shaped by geopolitical confrontation. The summit offered no indication that either side is prepared to retreat.”
Taiwan also remained unresolved beneath the diplomatic theatre.
Xi Jinping reportedly reiterated Beijing’s hardline position during private discussions, while Trump avoided major public escalation. Markets interpreted the restraint positively, but Nigel Green warns the underlying tensions remain acute.
“Taiwan is one of the single biggest geopolitical risk factors facing global markets. Any deterioration would instantly hit semiconductors, shipping routes, defence spending, commodity prices and global equities.”
The summit also failed to produce meaningful clarity around the future of tariffs imposed during the original US-China trade war.
Average US tariffs on many Chinese goods remain significantly above pre-2018 levels, while Beijing has maintained retaliatory measures across multiple sectors. Global manufacturers have spent years restructuring supply chains around the uncertainty.
Nigel Green says businesses were hoping for a clearer direction.
“Corporate leaders wanted evidence of a longer-term framework for economic engagement,” he says.
“Instead, they received broad political language designed to calm sentiment without addressing the structural fractures underneath.”
He also points to the contradictions inside the economic announcements themselves.
US Trade Representative Jamieson Greer spoke about large future agricultural purchases from China, while Treasury Secretary Scott Bessent suggested some key commodity arrangements had already effectively been settled under earlier agreements.
“Mixed messaging creates more uncertainty, not less,” concludes Nigel Green.
“Washington and Beijing may have lowered the temperature publicly, but the unresolved economic conflict beneath the surface remains very much alive.”
deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.
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2. Big screens, small towns, booming audiences.
May 16, 2026
Source: Radio New Zealand
Tamasin Prince’s story of how she came to own the Starlight Cinema in Taupō is like a typical three-act movie structure.
Act I: Setup
When Prince was a child, her father cleaned the cinema, which opened in 1960. The 40-year-old spent hours watching films while her dad vacuumed dropped popcorn.
”I just grew up feeling like movies were my comfort kind of thing.”
The original location of Starlight in Taupō .
supplied
– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
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3. Wellington’s Loafers Lodge fire still taking toll three years later
May 16, 2026
Source: Radio New Zealand
On the third anniversary of the fatal Loafers Lodge fire, the senior station officer who lead the response says crews were confronted with an “absolute nightmare of a scene”, which escalated rapidly.
Michael Wahrlich, Melvin Parun, Peter O’Sullivan, Kenneth Barnard and Liam Hockings died, when the the blaze, which was deliberately lit, swept through the multi-storey budget accommodation building with nearly 100 people inside.
Operating out of Newtown fire station on 16 May, 2023, senior station officer Clark Townsley was charged with making the first decisions on how to fight the fire.
He said residents and people were beginning to gather on the street, as fire crews arrived, and thick black smoke was already pouring from the upper windows of the building.
Clark Townsley was the senior station officer charged with making the first decisions at the Loafers Lodge fire. Supplied
A nightmare scene
“It’s amazing how quick you kick into gear,” Townsley said. “You go from being at the station and, within about three minutes, you’re at an absolute nightmare of a scene.
“The gravity of it was almost instantaneous. This is a highly densely tenanted building and the smoke was just so thick.
“It was quite terrifying.”
Inside the building, Townsley had only moments to assess the extent of the blaze and to determine the safety of the structure.
“I’d never ask anybody to do anything I wouldn’t,” he said. “Sending some of your friends into a potentially catastrophic incident, it’s not something you take lightly.
“It was either ‘we do something or people will die’, and ‘if we do do something, people might die’. We’ve got training, we’ve got equipment, those people inside they’ve got nothing, so we had to give it a go.”
Crews got to work fighting the fire, while Townsley began to organise teams to search for trapped residents.
Firefighters try to contain the Loafers Lodge blaze. Supplied / Axel Dann
“While I was doing that, I’m getting – over the radio – that there’s people inside still and then, as I’m trying to deal with that, there’s people on the roof,” he said. “As I was delegating the aerial [appliance] to get those off, then the ambulance officer comes and tells me that there’s people jumping out of the window.
“This all happened well inside the first 10 minutes.”
Fire crews withdraw as conditions become unsurvivable
Conditions inside the building deteriorated rapidly and firefighters were forced to withdraw from the building.
“Once the crews started saying that the roof was coming in on them and that they were starting to see conditions for flash over [the simultaneous ignition of any combustible materials in an enclosed area] – which is almost unsurvivable conditions for people inside – we were lucky to get our guys out.
“Subsequently, talking to one or two [firefighters], they said they thought they were going to die inside. We pushed all of the limits and tactics to their absolute limit.
“Everybody gave 100 percent to everything they did in there. We tried everything we could, but the conditions were horrific.”
Lasting impact of Loafers Lodge fire
Townsley said, when he came away from the fire, 15 people were still unaccounted for. The feeling of that moment has stayed with him to this day.
“That’s a lot,” he said. “Five is a lot.
“One is too many, but you have to remind yourself that building had the capacity for 105 people.
“You have to be positive. We did everything we could to help those people in there.
Prime Minister Chris Hipkins, Wellington Central MP and Finance Minister Grant Robertson, and Wellington Mayor Tory Whanau at the scene of the Loafers Lodge fire. RNZ / Angus Dreaver
“Obviously, it doesn’t sit well with me. We play to win, we don’t go in there to lose lives.”
Townsley testified in court proceedings where Esarona Lologa was convicted of the murder of five victims of the fire.
Townsley, who Wellington branch president of the New Zealand Professional Fire-fighters’ Union, refused a citation for his work on the fatal blaze, calling it “premature and inappropriate”.
He said he’d had the opportunity to talk to some of the survivors of the fire, and the experience had given him an insight into the community and relationships among the building’s residents.
He spoken to one former resident, who had taken nearly a year to find a new place to live, as he struggled to feel safe in the standard of accommodation offered by social services.
“All of these things start making you think a little bit more about what we do and how we do it, with other agencies, and things like health and mental health,” Townsley said. “They’re all very much interlinked and now I see how important these safety nets in our communities really are.”
He said the fire had also taken a toll on the crews who fought the blaze.
“It’s not done without leaving a little bit of scar tissue. It always leaves you with a bit of something.”
Fire and Emergency said its thoughts were with those who lost loved ones during the Loafers Lodge fatal fire, those who survived this tragic event and those impacted by it.
“This includes our own people, who faced severe fire conditions, yet performed multiple rescues that evening, as well as our 111 calltakers.
“By the very nature of what we do, our people can be exposed to traumatic events. When this happens, Fire and Emergency New Zealand has processes in place to ensure we offer them comprehensive support.
Firefighters tackle the Loafers Lodge fire. RNZ / Angus Dreaver
“This includes wellbeing advisors and psychologists, our employee assistance programme and peer support network, all of which are available to all our personnel, career and volunteer.
“Our people’s safety, health and wellbeing are paramount. We are continuing and will continue to provide support to those involved in the Loafers Lodge response.”
Loafers site to be redeveloped
In late 2025, Wellington developer Primeproperty Group agreed to purchase the property.
The group said it had bought the ground floor of the building, but the remainder of the property would remain under the ownership of the existing owner until April 2027.
It said it was in the early stages of working out what to do with the site, including potential redevelopment for modern apartments, a medical centre or a mixed-use combination of both.
“At this stage, our focus is on understanding the site fully, and ensuring any future considerations are approached thoughtfully, responsibly and with appropriate respect for those affected.”
The group said it recognised the deep significance the site held for many people, and that it was approaching its involvement with care, humility and sensitivity.
“While the events that occurred can never be forgotten, we hope any future decisions regarding the site can balance remembrance and dignity with the opportunity for the building to eventually become a safe, positive and caring place again for future occupants and the wider community.”
Wellington City missioner hoping for closure
Wellington City missioner Murray Edridge said he was delighted Primeproperty had plans to redevelop the site.
Loafers Lodge in Wellington. RNZ / Samuel Rillstone
“In its current form, it just reminds people every day of the trauma of what happened three years ago.”
Also retraumatising for residents in the last 12 months, he said, had been the murder trial for Esarona Lologa.
“They got to live it all again and that was a terribly difficult process for them.”
Edridge said he believed Lologa’s conviction did not give many residents the closure they hoped for.
A second trial is scheduled for later this year for four people involved with the management and operation of the building.
Each face 10 charges of manslaughter, with two charges relating to each of the five victims.
“I am hopeful that the trial this year of those who were responsible for the building will, in fact, bring that closure,” said Edridge, who still works closely with several of the former Loafers Lodge residents.
“Regardless of the outcome of that trial, it sends a message to building owners, to operators throughout this country that, actually, you need to take responsibility for the people you look after and care for, and make sure they’re OK. I think that’s a really healthy and helpful message to be giving.”
Councillor says families need conclusion
Wellington City Councillor Nureddin Abdurahman said families who had lost their loved ones needed a conclusion.
Loafers Lodge resident Chris lays flowers near the building for his friends he lost. RNZ / Angus Dreaver
Families still had unanswered questions about what exactly happened that day and a lot of pain.
He also hoped the end of the court case this year would help bring the chapter to a close for some.
Reviews that followed the fire
A Wellington City Council audit released in June 2023 found 25 similar buildings to Loafers Lodge in the capital. Twenty-one had a current building warrant of fitness, one never had one and three did, but they were not current.
Following the fire, the Ministry of Business, Innovation and Employment (MBIE) launched a probe into 37 buildings like Loafers Lodge – buildings that were at least three storeys tall, a boardinghouse and had no sprinklers. It found more than 100 problems, including smoke detectors not working and unmonitored alarm systems.
Tenancy compliance and investigations team national manager Brett Wilson said boardinghouse compliance remained a priority for MBIE.
Loafers Lodge caught fire in the early hours of 16 May, 2023. RNZ /Angus Dreaver
“The team works with boardinghouse operators to ensure they are meeting their safety obligations, including a recent operation in Auckland, where 15 properties were visited,” he said. “MBIE has also been focused on providing education and information to tenants on the different types of tenancies, and associated rights and responsibilities.”
Building system, delivery and assurance head Simon Thomas said it also worked closely with local governments in relation to building warrants of fitness and compliance schedules, and had provided guidance on how to improve compliance.
Last year, central government also confirmed it would amend the building code to better protect New Zealanders, following strong calls for change, as part of the nationwide fire safety review.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
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4. Growers benefit as Govt strengthens plant rights
May 15, 2026
Source: New Zealand Government
The Government is strengthening plant variety rights (PVR) to protect investments underpinning high‑value exports, regional jobs and global demand for New Zealand produce, Trade and Investment and Agriculture Minister Todd McClay and Commerce and Consumer Affairs Minister Cameron Brewer say.
“High‑value horticulture relies on years, often decades, of breeding, testing and commercialisation. Strengthening the Plant Variety Rights Act 2022 gives New Zealand the intellectual property settings it needs to compete internationally, protect our investment and grow export returns,” Mr Brewer says.
“From drought-resistant grass seed that benefits pastoral farmers, to higher-yielding and better-tasting produce for New Zealanders and our export markets, these changes will provide vital support for growers,” Mr McClay says.
“In 2024, 75 per cent of the $3.5 billion in export returns from kiwifruit and an estimated 55 per cent of the $979 million in export returns from apples came from plant variety rights‑protected varieties. This shows the vital contribution that new plant varieties make to growing export earnings and taking us closer to New Zealand’s ambitious goal of doubling the value of exports in 10 years.
“A successful sector means thriving communities, economic growth, secure jobs and a prosperous economy.”
“Zespri’s projections show that extending the PVR term by five years for SunGold Kiwifruit alone would mean additional revenue of around $1.8 billion over five years from the time of the extension, to the kiwifruit industry and the Biosecurity Science Institute,” Mr Brewer says.
“Growers will also benefit from additional returns as PVR varieties maintain their market value for longer, allowing growers to continue to build high value demand ahead of supply.
“Directly and indirectly we all benefit when our domestic growers are thriving.
“Breeding and importing new varieties can be a long, expensive and uncertain process. Breeders and importers take a significant risk, and we need to ensure they are supported in this process.”
The Government is also restoring provisional protection, so breeders are covered from day one of their rights application instead of when it is granted.
“This means plant breeders can take immediate legal action if new varieties are stolen and commercially exploited during the application process, which can take up to five years and sometimes much longer,” Mr Brewer says.
“By providing greater certainty and support, we are empowering plant breeders to keep innovating – driving economic growth and ensuring New Zealand remains competitive on the world stage,” Mr McClay says.
“The National-led Government is fixing the basics and building the future by making common-sense changes for industry that help support more opportunities for New Zealanders.” Mr Brewer says.
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5. Asia NZ Foundation – Top Southeast Asian tech entrepreneurs visiting New Zealand this month
May 15, 2026
Source: Asia New Zealand Foundation
- Kanlaya, Phommasak, Co-founder & COO, Lailaolab ICT Solutions Co., Ltd.
- Vinh, Nguyen, CTO, VinDynamics
- Aimi, Ramlee, Co-founder/Director of Digital Innovation & Growth, Tyne Solutions
- Matilda, Narulita, CEO & Co-founder, Nexmedis
- Yik Wai, Chee, Co-founder & Chief Operating Officer, Grafilab
- Ana Paula, Da Costa Xavier, CEO, Simile
- Tanakrit, Sermsuksan, Founder, SEA Bridge
- Rothsethamony, Seng, CEO and Co-Founder, Bamnang Academy
- Shenny, Tang, Sdn Bhd & Head of Growth, Innov8 Labs.
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6. Bora Navigates A Transitional 1Q26 And Sets A Strong Foundation For Rest Of The Year
May 13, 2026
Source: Media Outreach
Transformational Acquisitions Expected to Contribute to Long Term Growth Starting 2Q26
1Q26 Business and Financial Highlights
- The Company reported 1Q26 revenues of NT$4,001 million, down 17.68% sequentially, with basic EPS of NT$0.21. Gross margin stabilized quarter-over-quarter. The quarter reflected temporary slowdown across both businesses: pricing and demand variability in the generics market through January and February left Upsher-Smith’s 1Q26 revenue 18.63% below the trailing four-quarter run rate, while the scheduled annual maintenance of 6 weeks of our Maryland fill-finish facility limited fixed-cost absorption during the quarter, weighed on earnings quality.
- March saw a rebound in both businesses as conditions improved for both the top and bottom lines with steady demand. During the quarter, the Company advanced Maple Grove site ramp-up significantly, with several multi-year CDMO agreements signed or progressing across pharma clients of various sizes. Additionally, the Company continues to win new CDMO business as 12-month rolling backlog arrived at US$315 million. With a healthy order book at North American sites entering the second quarter, we expect fixed-cost leverage to resume, driving profit improvement as utilization builds across the installed asset base. Meanwhile, Upsher-Smith has successfully defended market share and is deploying lifecycle management initiatives that reinforce our ability to set the cadence of sales in a dynamic competitive environment.
- Non-operating loss primarily reflected a wider equity loss from affiliate Tanvex Biopharma, together with higher tax expense driven by annual 1Q recognition of tax from undistributed earnings of the previous year.
- Disciplined OPEX control has driven expenses down 14.87% quarter-over-quarter and 14.41% year-over-year. This signals that resources have settled in as we begin to see advantages in scale; The Company expects ROA and ROIC to trend gradually upward, albeit with some quarter-to-quarter variability as operating leverage builds.
- Board of Directors approved the acquisition of the CDMO business of MacroGenics Inc. (NASDAQ: MGNX), for total consideration of US$122.5 million, leading to a total 12-month rolling backlog upon closing to approximately US$375 million.
- Sunway Biotech’s Board approved the 100% acquisition of Weider Global Nutrition (“WGN”), an iconic Phoenix-based American sports nutrition brand with a strategic Costco U.S. supplier relationship, commercial presence in 60+ countries, and established positions on Amazon and Walmart. The transaction completes Bora Group’s three-platform architecture, namely CDMO, pharma sales, and nutraceuticals operated under our “dual engine” strategy.
- Share capital increased 0.04% during the quarter from employee stock option exercise.
Mr. Bobby Sheng, Chairman of Bora Group, stated, “The beginning of 2026 was eventful and challenging both in the world and at Bora. We have seen supply chain disruptions, inflation from wars, and continuous geopolitical tensions. Yet through it all, Bora Group’s disciplined approach to growth-oriented investment remained unwavering.
Our CDMO business CAPEX-to-revenue ratio reached an all-time high of over 10% in 2025, marking another year of upward progression and bringing the Company to a level comparable with established global CDMO peers. This marked a deliberate shift in where we direct investments from capacity-led expansion that defined our earlier growth chapters to a sharper focus on capability demands and modality, anchored in innovation and technology. Over the past 18 months, we have pursued an ambitious growth trajectory against a dynamic macroeconomic backdrop – recalibrating expectations, sharpening our strategy, and reaffirming long-term plans. The underlying demand environment supports our conviction: global pharma is growing at 5-8% per year, biologics CDMO outsourcing demand at 15%+ and small-molecule outsourcing demand at 8-10%. With our investment foundation now in place, we believe our CDMO business is positioned to compound organically at 13-23% annually.
In the first quarter, we executed a series of organizational adjustments, each aligned to a specific dimension of customer demand. We established the MSAT (Manufacturing, Science and Technology) function within the CDMO business, the R&D backbone of the platform, to deepen scientific and technical capability across our entire client base, an increasingly critical asset as small and mid-sized biotech and pharma clients rethink their supply chain. In parallel, we repurposed the Strategic Enterprise Account Management team into a networked model to serve clients for whom customer proximity is paramount. Together, these capability investments target specific customer pain points and position Bora to navigate the evolving political and economic landscape and capture a new chapter of commercial momentum.
To sum up, CDMO business in 1Q26 delivered US$27.2 million in total external wins on top of orders on hand, 60% or 7 molecules from pre-commercial programs. For context, full-year 2025 saw 16 pre-commercial molecule signings; 1Q26 alone has already secured nearly half that count in a single quarter. This run-rate acceleration is a leading indicator: as our capability investments take hold, forward visibility and growth potential are set to compound. Bora’s CDMO business has entered a new phase. Reinforcing this trajectory, the Group’s recently announced acquisition of MacroGenics’ Rockville, Maryland CDMO facility adds a substantial commercial-stage monoclonal antibody programs backlog and manufacturing expertise to the Group. Equipped with five 2,000-liter and two 500-liter single-use bioreactors and integrated QC and analytical labs and currently generating more than half of revenues from commercial manufacturing, the transaction marks a pivotal step in scaling Bora’s integrated biologics CDMO platform, known as Bora Biologics. DS and DP capabilities shall be integrated over the next 12–18 months to offer global biotech customers a single partner from development through commercial supply in the U.S..
On the pharma sales side, the Group faced competition across a handful of core generic products. Upsher-Smith is navigating the competitive landscape with a clear focus on the most margin-accretive opportunities while continuing to scout niche, brand-oriented assets. Near-term, DLS market share has been defended; over the medium term, sustained market share maximization of the infantile spasm franchise coupled with swift pipeline replenishment weighted toward differentiated assets is critical. In the first quarter, we saw unique patients for VIGAFYDE grew by more than 140% over same period last year and a continuous increase in new patients. Both healthy signs of steady execution pace building up to durable resilience in the pharma sales business.”
1Q26 Operational Achievements & 2026 Outlook
Global CDMO Operations
Revenues declined 24.62% year-over-year and 30.15% quarter-over-quarter including internal orders, mainly due to above-mentioned maintenance at fill and finish facility in Maryland, a routine cycle factored into our operating plan, and seasonality at Canada site. To scale biologics CDMO one-stop-shop platform in commercialized projects with SUB (Single Use Bioreactors) in the US; Board of Directors approved the acquisition of Rockville, Maryland based drug substance facility from MacroGenics for US$122.5 million.
Following closing, Bora Group intends to leverage the Rockville Site in cooperation with Tanvex Biopharma (TWSE: 6541), which operates the Group’s biologics CDMO franchise under the “Bora Biologics” brand. Together with Bora’s sterile drug product capabilities, this is expected to expand and strengthen the Group’s end-to-end biologics platform. The Rockville facility has operated as an outsource manufacturing partner since 2022 and is equipped with five 2,000-liter and two 500-liter single-use bioreactors and fully integrated QC and analytical laboratories and has been inspected by both the U.S. FDA and Japan’s PMDA.
During the quarter, 0.44 billion doses, or 108 molecules, were developed and manufactured. Excluding internal orders, the business accounted for 37.73% of consolidated revenues. Contribution from the top 20 global pharmaceutical companies stood at 32.10%.
As the Company continues to expand its CDMO capacity and capabilities, this year’s CAPEX plan is closely linked to the contracting cadence of a key customer anchored at Bora’s North American CDMO network. The Group expects to complete Maple Grove’s capital expenditure program in the first half of the year, sequencing the investment to grow in step with major pharmaceutical partners’ supply chain plans and optimize return on capital deployed.
Pharma Sales Operations
Discontinued operations impact in 2025 has materially abated this quarter, positioning Upsher-Smith to re-accelerate organic growth in 2026. Management has defined two strategic priorities for 2026, designed to enhance capital efficiency and sharpen commercial focus:
First, R&D capital allocation optimization. 505(b)(2) Pipeline programs have been transferred to Salus Therapeutics, an equity-method affiliate. Under this structure, Upsher-Smith retains the right to economic participation in commercial outcomes while shareholders’ exposure to early-stage development and regulatory risks, and associated cash burden is meaningfully reduced. The decision is consistent with the Group’s capital discipline observed across businesses.
Second, institutionalizing pipeline expansion capabilities. An integrated business development and medical affairs function is being established to systematically evaluate in-licensing, co-promotion, and bolt-on opportunities. This integrates Bora’s proven asset-selection and M&A strategy directly into Upsher-Smith’s commercial infrastructure, enabling franchise compounding through targeted external sourcing rather than capital-intensive internal development. These lifecycle initiatives focus but are not limited to pediatric epilepsy opportunities.
Collectively, Management expects Upsher-Smith to evolve fully into a capital efficient, commercially led, and therapeutically centered vehicle designed to deliver sustained shareholder value before exiting 2026.
Recent Investor Conference
Bora will host English online earnings call at 7:30 a.m. Taiwan time on May. 14th, 2026. The event will cover the Company’s 1Q26 financial and business results and 2026 outlook.
English Online Earnings Presentation Link: https://events.q4inc.com/attendee/372103448
Bora will participate in 2026 Yuanta Securities Investment Forum in June. For 1:1 meetings with management, please contact your Yuanta representative.
Bora 2026 Earnings Schedule
Q2 2026: Expected in the 2nd week of Aug 2026
Q3 2026: Expected in the 2nd week of Nov 2026
Q4 2026: Expected in the 2nd week of Mar 2027
Hashtag: #BoraPharmaceuticals
The issuer is solely responsible for the content of this announcement.
– Published and distributed with permission of Media-Outreach.com.
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7. Partial sell-off of Kiwibank back on the government’s agenda
May 13, 2026
Source: Radio New Zealand
RNZ / Marika Khabazi
Kiwibank has been instructed by the government to once again look at its options for long-term growth, including revisiting the possibility of partial privatisation.
The taxpayer-owned bank had previously looked at raising $500 million in capital from local investors, but ditched that plan last year.
The new request is included in a letter of intent to Kiwibank’s parent company Kiwi Group Capital (KGC) from State-Owned Enterprises Minister Simeon Brown.
“We expect KGC to undertake work on alternative growth scenarios, along with the capital required for these.” Brown said.
He went on to note in the letter that KGC should now engage with Treasury about how much capital might be required for different growth scenarios.
In accompanying Cabinet paper, Brown and Finance Minister Nicola Willis signalled that while the government wanted Kiwibank to grow into a market disrupter that can boost competition, the government’s coffers were constrained and it was unlikely to be in a position to provide extra capital.
“The Crown could continue to be the sole provider, or be one of the contributors, of additional capital,” the paper said. “However, this would see Crown funding directed to Kiwibank and away from other priorities. Given the significant constraints we are facing, the Crown is not in a position to support this course of action.”
State-Owned Enterprises Minister Simeon Brown. RNZ / Nick Monro
The paper also noted that if Kiwibank was to grow and increase competitive pressure, it would need to know in advance that it had access to capital markets.
Last year KGC said that the easing of the Reserve Bank’s capital settings, combined with Kiwibank’s recent $400m Tier 2 capital raise via bonds, meant it could grow without the need for additional equity.
The government had approved the possible partial public listing for Kiwibank to acquire new capital, but had stressed it could only proceed with an electoral mandate.
National promised no asset sales this term.
The Commerce Commission’s banking study in 2024 said Kiwibank should be given a financial boost to become a maverick challenger to the big four.
Kiwibank’s response
In a statement to RNZ, Kiwibank’s parent company KGC stressed it had sufficient capital to fund its lending growth in the medium-term and noted that the Crown had asked it to work with Treasury on new options for raising capital in future that could boost Kiwibank’s ongoing competitive potential.
“This process will consider a range of factors including investor feedback, market conditions and growth scenarios, as well as the potential amount, sources and timing of any future capital requirements” the statement said.
It went on to stress that it was early-stage work, and no decisions had been made on timeframes.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
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8. Air New Zealand cuts 5% of its flights, jobs could go
May 14, 2026
Source: Radio New Zealand
Supplied
Air New Zealand has cut 5 percent of flights and will start to consolidate other routes after the July school holidays, chief executive Nikhil Ravishankar says.
It comes as the airline is expecting a full-year pre-tax loss of between $340 and $390 million due to the soaring cost of jet fuel.
Talking to Checkpoint on Thursday, Ravishankar said domestic demand was already soft before the war in Iran, and the crisis had only made it more acute.
“Cost-of-living challenges are real and so where we’ve gone in with price increases, we are starting to see the fact that we are getting to the limits of certain markets and the ability to absorb those costs.
“So, we’re being very thoughtful about what we do with price increases.”
He said the airline was eyeing up further cuts to flights after the July school holidays.
Air New Zealand had already cut 5 percent of its flights in response to the war, which had triggered “genuinely unprecedented” fuel prices but ruled out a request for financial assistance from the government.
“We are paying over double what we normally pay for fuel. Recovery will have a long tail. But it all depends on when the conflict will end and how the fuel price recovers.”
Conflict in the Middle East has pushed up fuel prices. AFP
Ravishankar said reducing the frequency of flights, not routes, was the goal – for example instead of flying twice daily between destinations, the airline might fly once.
“That’s by-and-large frequency cuts, so we’re cutting flights that are middle of the day, non-peak flying.”
Ravishankar said it was yet to be finalised which flights would be lost, but the airline was targeting long-haul, international routes between August and October.
He said there would be fewer cuts on regional and domestic routes and expected customers would be advised in June.
Ravishankar said the sharemarket had been informed Air NZ would preserve all costs associated with supporting customers.
He said the first priority was to ensure the airline continued operating a safe, punctual, and reliable service at an affordable price.
“There are a lot of costs that go into running 500 flights a day… so those costs, we’re making sure that they are right, but we’re protecting that.
“But what we’re also doing is going through every single line item in the business and making sure any of the costs that we can live without for now – as we’re dealing with the crisis, that we… remove those costs from the business.”
Ravishankar said despite the difficulties the airline was facing, he loved his job and the role was a privilege.
“This is one hell of an airline. It’s one of the great New Zealand iconic brands, and even today one of the most respected airlines in the world.
“The plans that we have in place ensure New Zealand has a world-class airline into the future.”
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
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9. ACES Institute Confers Distinguished Fellow Recognition upon Letright CEO Ren Li
May 14, 2026
Source: Media Outreach
Ren Li with the ACES Institute and Monash University team following the leadership dialogue and fellowship conferment.
Held at the Plenary Theatre at Monash University Malaysia, the forum, titled Responsible Leadership in Asia: A Case Dialogue on Practice and Impact, brought together business leaders, academics, and sustainability advocates to examine how companies can scale globally while maintaining responsible governance.
The recognition marks the latest milestone for Li, a previous recipient of the Responsible Business Leader accolade (ACES Awards 2024) and Entrepreneur of the Year (ACES Awards 2025). Under his leadership, Letright has emerged as one of China’s premier outdoor furniture exporters, operating in over 70 countries.
Speaking at the dialogue, Li emphasized that responsible leadership should be an industry-wide standard rather than a niche competitive advantage. “I welcome competition because responsible business leadership should continue expanding across the industry,” said Ren Li. “The market is large enough for everyone. What matters more is building businesses that grow sustainably and responsibly over the long term.”
Moderated by Associate Professor Dr. Esther Chong of Monash University Malaysia’s School of Business, the discussion explored ethical decision-making across global supply chains. “Ren Li’s journey demonstrates that profitability and principled leadership can reinforce one another,” noted Dr. Chong.
Dr. Shanggari Balakrishnan, President of the ACES Institute and CEO of MORS Group, stated that the fellowship reflects the organization’s mission to champion ethical leadership. “Ren Li represents a new generation of leaders who understand that accountability, resilience, and purpose are central to long-term success,” she said.
The dialogue successfully bridged academic insight with real-world executive experience, offering a closer look at applying responsible principles amid growing global scrutiny. The event concluded with a networking luncheon for representatives from academia and the international business community.
Hashtag: #ACESInstitute
The issuer is solely responsible for the content of this announcement.
– Published and distributed with permission of Media-Outreach.com.
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10. Christopher Luxon embracing ‘anti-migrant rhetoric’ of coalition partners – Hipkins
May 14, 2026
Source: Radio New Zealand
Labour leader Chris Hipkins RNZ / Marika Khabazi
Labour’s leader says the Prime Minister is embracing the “anti-migrant rhetoric” of his coalition partners.
Prime Minister Christopher Luxon told business leaders on Wednesday that immigration was an emerging political issue, and the party would put social cohesion ahead of business profits.
Speaking to reporters after his ‘State of Auckland’ speech on Thursday, Labour leader Chris Hipkins said Luxon is buying into a view on immigration that isn’t true.
“Christopher Luxon is clearly embracing the anti-migrant rhetoric that his colaition partners are adopting and he should be pushing against it – not trying to appease it.”
Hipkins said migrants brought a huge amount to New Zealand, and the country didn’t have to choose between immigration and profitability for businesses.
Meanwhile, a demographer believes Luxon is promising a solution to an immigration problem that does not exist.
Independent think tank Koi Tū senior fellow and distinguished professor emeritus Paul Spoonley told Morning Report on Thursday while immigration had become a polarising globally, that was not necessarily the case in New Zealand.
He said immigration had risen a bit as an issue, but it was not a top 10 concern for New Zealanders – as identified in the latest Ipsos issues monitor. He said polling showed the majority of New Zealanders viewed immigration positively.
“I can only assume that the prime minister is beginning to react to his two coalition partners both of whom seem to want to make immigration a central issue for the coming election, but also to see immigration as somehow being divisive and an issue for New Zealanders – I don’t think it is.”
Spoonley said New Zealand’s points-based system was strict compared to many other OECD countries where immigration had become polarising.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
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