PM Edition: Here are the top 10 business articles on LiveNews.co.nz for June 21, 2026 – Full Text
1. 99.5 per cent benefiting from KiwiSaver change
June 20, 2026
Source: New Zealand Government
99.5 per cent of people contributing to KiwiSaver through their wages or salaries can look forward to greater security in retirement thanks to the increase in contribution rates, Finance Minister Nicola Willis says.
“Almost three months after the default contribution rate for the scheme was lifted, only half a per cent of regular contributors have opted out of the increase.
“This means hundreds of thousands of Kiwis will be better off in retirement.”
KiwiSaver has just under 3.5 million members of whom about 1.8 million are contributing to their accounts through employee deductions. Of those 1.8 million, just 9300 have opted out of the increase that took effect on 1 April, choosing instead to remain on the previous 3 per cent rate.
“I’m delighted that so many New Zealanders have recognised the value of increasing their contributions and having those increases matched by their employers.
Effectively this means the contributions to the KiwiSaver accounts of 1.8 million New Zealanders have increased from 6 to 7 per cent of their wages or salaries.
“It says a lot about Kiwis’ priorities that even while financial conditions are tough for many, the vast majority are choosing to take the opportunity to save for a better financial future.
“Small differences in weekly contributions make a big difference over the life of a superannuation scheme.”
The default contribution rate increased from 3 to 3.5 per cent on 1 April and will increase a further 0.5 per cent on 1 April 2028.
“That means an 18-year-old earning the minimum wage of just under $50,000 who joined the scheme on April 1 will have $930,000 in their KiwiSaver at age 65 if their earnings follow a typical trajectory,” Nicola Willis says.
“That is $190,000 more than they would have had with the old 3 per cent contribution rate.
“Most New Zealanders have already embraced KiwiSaver as a simple way of saving to supplement their income in retirement. These changes will provide them with greater financial security.
“They also mean young New Zealanders will be better placed to get a foot on the property ladder as KiwiSaver balances can be put towards the purchase of first homes.”
Original source: https://nz.mil-osi.com/2026/06/20/99-5-per-cent-benefiting-from-kiwisaver-change/
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2. Successful debut of International Symposium on Emergency Response and Aeromedical Services in Hong Kong
June 20, 2026
Source: Media Outreach
HONG KONG SAR – Media OutReach Newswire – 20 June 2026 – Hong Kong’s Government Flying Service (GFS) held its inaugural three-day International Symposium on Emergency Response and Aeromedical Services (ISERAS) (June 16-18), bringing together more than 230 policymakers, experts and academics, and industry representatives from over 70 institutions and accredited organisations.
With participants from places including Hong Kong, the Chinese Mainland, Australia, the United Kingdom, Austria, Indonesia, Singapore and Thailand, the event aimed to foster closer co-operation in emergency linkage, resource sharing, and professional training among different regions.
The inaugural International Symposium on Emergency Response and Aeromedical Services was held in Hong Kong from June 16 to 18. Photo shows the Under Secretary for Security of the Hong Kong Special Administrative Region (HKSAR) Government, Michael Cheuk (fifth left); the Director General of the Rescue and Salvage Bureau of the Ministry of Transport of the People’s Republic of China, Wang Lei (fifth right); the Controller of the Government Flying Services of the HKSAR Government, Captain Eddie Liu (fourth right), and other guests at the opening ceremony.
The symposium featured a series of plenary sessions, panel discussions, technical visits, and live demonstrations jointly conducted by the GFS and various government emergency units. A number of memoranda of understanding were signed during the event, to deepen collaboration between the GFS and the Chinese Mainland as well as domestic and international emergency, aviation, and medical institutions.
Speaking at the opening ceremony, the Under Secretary for Security, Michael Cheuk, said that the challenges of emergency response as a result of the realities of climate change are evolving at an unprecedented pace.
“A shift to proactive prevention, continuous enhancement of international and cross-regional collaboration, and enhanced experience and insight sharing among stakeholders are key to rising to new and complex challenges,” Mr Cheuk said, adding that the collaborative spirit of ISERAS will forge stronger partnerships, further strengthen emergency response capabilities, and secure a safer future for communities.
The Director General of the Rescue and Salvage Bureau of the Ministry of Transport of the People’s Republic of China (CRS), Wang Lei, also attended the symposium and delivered a keynote presentation on air rescue capabilities and strategic development in the South China Sea.
The symposium concluded with an interdepartmental counter-terrorism drill and exchange session, with the participation of the GFS, the Hong Kong Police Force and the Hong Kong Fire Services Department, showcasing Hong Kong’s professional capabilities in responding to terrorist attacks.
The symposium concluded with an interdepartmental counter-terrorism drill.
The Controller of the GFS, Captain Eddie Liu, said that the GFS has always played an important role in emergency response and rescue. “In addition to assisting in search and rescue, providing air ambulance and other emergency aeromedical services, the GFS also shoulders the responsibility of maintaining internal security of the HKSAR,” he said.
“In emergencies such as terrorist attacks, the GFS would make rapid deployment to assist the disciplined services in conducting air assault, offering all-round support to the HKSAR Government’s overall counter-terrorism efforts.”
Since its establishment in 1993, the GFS has served at the forefront of round-the-clock search-and-rescue and emergency aeromedical operations, while the ISERAS aims to collectively build a truly transnational pool of professional expertise, thereby underscoring Hong Kong’s status as an aviation hub for emergency response in Asia.
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Hashtag: #HongKong #BrandHongKong #GFS #Emergency #Response #Aeromedical #Symposium
The issuer is solely responsible for the content of this announcement.
– Published and distributed with permission of Media-Outreach.com.
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3. Property Market – Conditions may be ripe for a ‘bargain’ property trade up – Cotality
June 18, 2026
New analysis by Cotality finds that trading up from a three-bedroom to a four-bedroom house typically still commands a six-figure premium.
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4. ZEEKR Surpasses 800,000 Global Deliveries and Unveils Global Expansion Strategy for Dual Flagship 9-Series Models
June 19, 2026
Source: Media Outreach
HONG KONG SAR – Media OutReach Newswire – 19 June 2026 – The 2026 International Automotive and Supply Chain Expo (Hong Kong) officially opened today. Under the theme “Luxury, Elevated to a New Realm”, ZEEKR unveiled the global expansion strategy for its dual flagship 9-Series models — the ZEEKR 9X and ZEEKR 009 Grand.
As a key gateway connecting China with global markets, Hong Kong serves as an important benchmark for the premium automotive industry and a strategic platform for luxury brands expanding internationally. Launching the global strategy for the 9-Series in Hong Kong marks a significant new chapter in ZEEKR’s growth across the global premium new energy vehicle market.
800,000 Deliveries Milestone Underscores ZEEKR’s Global Growth Momentum
Strong market performance continues to support ZEEKR’s expansion in the global premium new energy vehicle segment. As of June 16, 2026, ZEEKR’s cumulative global deliveries officially exceeded 800,000 vehicles, marking a major milestone for the brand.
In Hong Kong, ZEEKR has maintained strong momentum. From January to May 2026, ZEEKR captured a 40.7% market share of Hong Kong’s luxury vehicle segment, ranking first among all luxury automotive brands. The ZEEKR 009 ranked as Hong Kong’s best-selling luxury MPV, while the ZEEKR 7X became the city’s best-selling luxury SUV.
Across key international markets, ZEEKR continues to achieve strong results. In Thailand, the brand was the best-selling luxury pure-electric MPV brand in 2025 and retained its leadership position from January to May 2026. In Malaysia, ZEEKR ranked No.1 among luxury pure-electric brands during the same period, with the ZEEKR 7X leading the luxury electric SUV category and the ZEEKR 009 remaining the top-selling luxury electric MPV. In Australia, ZEEKR continued to lead the luxury SUV segment priced above AUD 65,000 from January to May. In Mexico, the ZEEKR 7X secured the monthly luxury EV sales title in both April and May.
Dual Flagship 9-Series Models Showcase ZEEKR’s Technology-Luxury Vision
At this year’s expo, ZEEKR is showcasing five models spanning family mobility, executive transportation and flagship luxury, highlighting the breadth of its premium product portfolio.
The ZEEKR 9X, ZEEKR’s new global flagship of ultra-luxury SUV, is built on the SEA-S architecture and features a 900V high-performance silicon carbide electric drive system delivering more than 1,030 kW of maximum power. Four integrated safety structures combined with extensive use of 2,000 MPa ultra-high-strength steel contribute to a torsional rigidity rating of 41,600 N·m/deg, setting a new benchmark for safety in the hybrid SUV segment. The ZEEKR 9X recently opened pre-sales in the Middle East, where it has received strong market interest. The model is scheduled to expand into key markets across Latin America, Central Asia and Europe.
The ZEEKR 009 Grand, the brand’s global ultra-luxury four-seater flagship MPV, features a 720-degree comprehensive safety architecture and the world’s first integrated die-cast C-ring cabin structure, delivering segment-leading rear-seat protection. The second row is equipped with two ultra-soft aniline leather executive seats featuring 20 massage points and an industry-leading seven-zone graphene heating system, creating an exceptional luxury experience for rear passengers. The right-hand-drive version of the ZEEKR 009 Grand is scheduled to launch in Hong Kong in the fourth quarter of 2026.
The ZEEKR 8X, a super hybrid high-performance flagship SUV, also makes its Hong Kong debut. Built on the SEA-S Super Hybrid Architecture, the ZEEKR 8X delivers a flagship experience across four key dimensions: performance, intelligence, safety and comfort.
Expanding Global Capabilities and Opening a New Chapter of Technology Luxury
As its product lineup continues to grow and its international footprint expands, ZEEKR is accelerating the development of a comprehensive global operating system spanning R&D, product planning, market operations and customer services. Today, ZEEKR’s overseas business covers more than 60 major cities worldwide with a rapidly growing global user base.
As the global automotive industry accelerates toward electrification and intelligent mobility, the luxury vehicle market is entering a new era in which technological innovation is redefining the premium experience. Leveraging Hong Kong’s position as a globally connected international hub, ZEEKR will continue to deepen its global presence and advance the evolution of luxury through innovation. Through cutting-edge technologies, exceptional products and comprehensive lifecycle services, ZEEKR is committed to delivering a distinctive technology-luxury mobility experience for customers around the world.
Hashtag: #ZEEKR
The issuer is solely responsible for the content of this announcement.
– Published and distributed with permission of Media-Outreach.com.
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5. Vingroup Rises 11 Places In Fortune Southeast Asia 500, Ranking Among The Region’s Top 30 Largest Companies
June 17, 2026
Source: Media Outreach
HANOI, VIETNAM – Media OutReach Newswire – 17 June 2026 – Vingroup ranked 26th in Fortune’s Southeast Asia 500 ranking, rising 11 places from 37th in 2025 and 19 places from 45th in 2024. The Group continues to be the highest-ranked private enterprise in Vietnam.Advancing in the ranking for two consecutive years underscores Vingroup’s scale, competitiveness, and sustainable growth momentum, while highlighting its increasingly prominent position among the region’s leading companies.
This marks the third year that Fortune has published its Southeast Asia 500 ranking. The list ranks companies based on total revenue across seven countries in the region, including Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
According to Fortune, Vingroup ranked as the No. 1 private enterprise in Vietnam and No. 26 among the 500 largest companies in Southeast Asia. This year’s Southeast Asia 500 recognizes companies that are well positioned to capitalize on shifts in global supply chains and the rapid growth of strategic industries such as electric vehicles and artificial intelligence.
In addition to its scale of assets, Vingroup was highly recognized for its financial performance and operational efficiency. According to Fortune, in 2025, Vingroup recorded revenue of USD 12,760.6 million, representing year-on-year increases of 69.1% compared to the figures reflected in the 2025 ranking. Vingroup recorded net profit of USD 436.5 million and total assets of USD 42,536.4 million.
Vingroup is a diversified conglomerate operating across Industrials – Technology, Real Estate and Services, Infrastructure, Green Energy, Culture and Social Enterprises.
Within the Industrials – Technology pillar, VinFast reinforced its leading position in Vietnam’s automobile and electric two-wheeler markets while continuing its global expansion.
In 2025, VinFast delivered nearly 200,000 electric vehicles worldwide, up 102% year-on-year. The result exceeded the Company’s 2025 target and marked the highest annual delivery volume since its inception. In the first quarter of 2026, VinFast delivered 58,577 electric vehicles across all markets, representing a further 61% increase compared with the same period last year.
Within the Real Estate and Services pillar, Vinhomes maintained its market-leading position with 32 residential developments in operation, home to approximately 650,000 residents. In 2025, Vinhomes recorded contracted sales of VND 205.3 trillion, up 98% year-on-year, with more than 34,000 units delivered. Its unrecognized contracted sales backlog reached VND 186.4 trillion, providing a solid foundation for future growth. Consolidated net revenue totaled VND 153.3 trillion, up 49.8% from 2024, while net profit after tax reached VND 43.3 trillion, up 23.6% year-on-year and exceeding the Company’s annual target.
In 2026, Vinhomes launched a series of large-scale urban developments across Vietnam, including the 6,200-hectare Vinhomes Global Gate Ha Long in Quang Ninh Province, the 512-hectare Vinhomes Hai Van Bay in Da Nang, and the 1,080-hectare Vinhomes Saigon Park in Ho Chi Minh City. These developments are expected to reshape Vietnam’s urban landscape while contributing to the sustainable growth of the real estate market.
Meanwhile, Vinpearl continued to lead Vietnam’s hospitality, tourism and entertainment sector, operating 60 facilities across 20 provinces and cities. Its ecosystem includes more than 17,500 rooms across a network of five-star hotels and resorts; 15 VinWonders theme parks; six championship golf courses; and three international-standard convention centers and theaters under the VinPalace brand. The portfolio also features two semi-wildlife conservation parks and an equestrian academy. In addition, Vinpearl’s signature live-action performances in destinations such as Nha Trang and Phu Quoc attract millions of visitors each year.
Within the Infrastructure pillar, VinSpeed has commenced construction of Vietnam’s first two high-speed rail projects: the Ben Thanh – Can Gio line in Ho Chi Minh City and the Hanoi – Quang Ninh line. Launched in April 2026, the Hanoi – Quang Ninh route is the country’s first interregional high-speed railway project. Beyond creating a powerful growth engine for Northern Vietnam’s key economic region, the project represents an important step toward enhancing the nation’s long-term competitiveness.
Within the Green Energy pillar, VinEnergo announced its expansion plans across Asia and Europe, supported by a renewable energy project pipeline with a total capacity of 10 GW that has already secured development agreements. In Vietnam, the company has obtained investment registration certificates for four renewable energy projects.
Within the Social Enterprises pillar, VinUniversity became the youngest university in Vietnam to receive the FIBAA Quality Seal in March 2026. In healthcare, Vinmec inaugurated its 10th hospital, spanning over 31,000 sqm, with 114 inpatient beds and a designed capacity of 135,000 patient visits annually.
At the end of 2025, Vingroup launched its Culture pillar to preserve and promote Vietnamese cultural values and bring them to the world. In May 2026, the Group introduced V-Film, a film and television production and distribution company, with the goal of supporting the development of a professional, modern, and globally integrated Vietnamese film industry.
Looking ahead, Vingroup remains committed to accelerating its core business activities, leveraging the strengths of its diversified ecosystem, enhancing operational efficiency, and expanding its international presence. Through these efforts, the Group aims to achieve its 2026 targets while further strengthening its position as one of the region’s leading enterprises.
Hashtag: #Vingroup
The issuer is solely responsible for the content of this announcement.
– Published and distributed with permission of Media-Outreach.com.
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6. World Refugee Day: Almost 2 million children estimated to have returned to “unliveable conditions” in Syria in 18 months
June 19, 2026
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7. Ministerial Appointments – Surgeons respond to Minister’s decision not to reappoint MCNZ councillors
June 17, 2026
The Royal Australasian College of Surgeons notes that four senior leaders of the Medical Council of New Zealand (MCNZ) have not been reappointed to further terms including the Chair, ENT surgeon Dr Rachelle Love.
MCNZ plays a critical role in safeguarding patient safety and maintaining public trust through the impartial regulation of the medical profession.
The Minister of Health holds the statutory authority to make appointments to MCNZ.
Dr Ros Pochin, Chair of the RACS Aotearoa New Zealand National Committee, says the exercise of this power must be carefully balanced against the fundamental principle of professional independence.
“The Medical Council’s effectiveness relies on its perceived and actual independence.”
RACS acknowledges Dr Love’s strong leadership during her time as MCNZ Chair. Her guidance during the response to the Royal Inquiry into Abuse and the work with Lake Alice survivors was a particular standout.
Dr Pochin describes her as a “strong and inspirational leader who has garnered huge respect amongst her profession and the support of the full Medical Council.
“She has demonstrated an unwavering commitment to patient safety and the surgical community.”
Improving all patient outcomes and supporting the growth of the medical workforce are at the heart of both RACS and the Medical Council ‘s core business. The promotion of cultural safety and competence improves the health of all New Zealanders. It is fundamental to an equitable model of care and accepted as a key competency for all RACS Fellows and members of all other medical colleges.
“Cultural safety and its impact on improved health outcomes for all New Zealanders is supported by evidence and data,” says Dr John Mutu-Grigg, Chair of the RACS Māori Health Advisory Group.
“This fact is accepted nationally, internationally, and is recognised in law and is fundamental to an equitable model of care.”
Dr Pochin adds: “We need independent institutions that provide evidence-based leadership and make decisions in the best interests of patients and the profession. The Medical Council is key in this respect.”
RACS welcomes Dr Ken Clark as the new Chair of MCNZ and remains committed to working constructively with the New Zealand Government and all relevant stakeholders to uphold the highest standards of medical professionalism, governance, and patient care.
About the Royal Australasian College of Surgeons (RACS)
RACS is the leading advocate for surgical standards, professionalism and surgical education in Australia and Aotearoa New Zealand. The College is a not-for-profit and supports the ongoing development, maintenance of expertise and lifelong learning that accompanies the surgical practice of more than 8500 Fellows, 1300 surgical Trainees, and Specialist International Medical Graduates. RACS also supports healthcare and surgical education in the Asia-Pacific region and is a substantial funder of surgical research. www.surgeons.org
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8. Glow Festival by Prudential Expands in Sentosa Partnership, Bringing Global Headliners and Its Biggest Edition Yet to Singapore
June 19, 2026
Source: Media Outreach
Over 70 wellness sessions across six immersive festival zones from sunrise yoga and seafront runs, to strength training, breathwork, creative workshops and recovery experiences, offering something for everyone, across all ages and abilities.
This year marks a significant new chapter for the festival through a three-year partnership with Sentosa Development Corporation (SDC), Singapore Tourism Board (STB), Prudential Singapore (“Prudential”) and Exceed Sports & Entertainment, the founder of Glow Festival. Together, they share a long-term vision to grow Glow into a defining global wellness event for Singapore, one that invites people of all ages and abilities to engage with wellbeing in ways that feel accessible, social and culturally relevant.
“Glow Festival was created to reimagine how people experience wellness, making it more social, inclusive and culturally relevant,” said Martin Capstick, CEO of Exceed Sports & Entertainment and Founder of Glow Festival. “Our partnerships with Prudential, SDC and STB mark a significant step forward, allowing us to scale the festival. In 2026, this comes to life through an expanded programme, global talent and immersive formats that bring people together in new ways.”
EVERY BODY CLUB BY PRUDENTIAL: MIND, BODY AND FUEL
Returning as Presenting Sponsor for the third consecutive year, Prudential brings back Every Body Club at Glow Festival. Every Body Club is Prudential’s partner ecosystem for health, community and wellness. This year at Glow Festival, Prudential has an experiential space that invites visitors to pick up small steps to improve their wellbeing such as healthy bites and sports accessories. Prudential customers also enjoy exclusive access to physiotherapy and chiropractic consultations.
Toni Fung, Chief Customer and Marketing Officer, Prudential Singapore, said: “We are pleased to be back as the Presenting Sponsor of Glow Festival for the third consecutive year. While health and protection remain a key part of what we do, wellbeing is becoming increasingly important and deeply personal as people live longer lives. Our partner ecosystem presented through Every Body Club offers something for everyone, whether they are starting their wellness journey, staying active and connected as they age, or pursuing fitness goals.”
“Sentosa’s golden beaches and abundant greenery create the perfect environment for immersive wellness and restoration. This strategic partnership brings Glow Festival to life across our island, from the dedicated Festival Grounds at Palawan Green to extended programming with our island hospitality partners. The combination of beachfront locations, coastal breezes, and tranquil spaces helps guests disconnect from daily pressures and reconnect with their wellbeing in ways that feel authentic and restorative. This is the transformative wellness experience we want to offer our guests,” said Michael Ma, Assistant Chief Executive (Business & Digital Technology Group) of Sentosa Development Corporation.
A DAY-TO-NIGHT PROGRAMME ROOTED IN MOVEMENT AND COMMUNITY
Across the festival period, visitors can explore more than 70 wellness sessions spanning sunrise yoga, seafront runs, strength training, breathwork, creative workshops and recovery experiences. Designed to be inclusive and accessible, the programme caters to all levels from those beginning their wellness journeys to seasoned practitioners.
At the heart of the daytime lineup is a roster of globally recognised fitness personalities. Joe Wicks, widely known as The Body Coach, brings his signature high energy approach to movement, while Chontel Duncan leads strength focused sessions grounded in performance and empowerment. Completing the lineup is Emi Wong, one of Asia’s most influential digital fitness creators, known for workouts that have resonated with millions around the world.
LIVE MUSIC TAKES OVER AFTER DARK
As the sun sets, Glow shifts into a different rhythm, with live music anchoring the evening programme.
Multi-platinum global superstar Jason Derulo, whose era-defining hits and electrifying stage presence have captivated audiences around the world, will bring his explosive performance style to the Glow stage on Friday 17 July. Headlining Saturday 18 July are acclaimed Korean indie band Hyukoh, whose globally respected musicianship, authenticity and devoted international following, have established them as one of Asia’s most compelling live acts and festival favourites across the world. Closing the festival on Sunday 19 July is Grammy-winning singer-songwriter Alessia Cara, celebrated for her soulful voice, powerful storytelling and chart-topping anthems that have inspired a generation.
Together the line up reflects Glow’s evolving identity, where wellness and culture intersect in a shared, collective experience.
FESTIVAL EXPERIENCE – SIX ZONES ACROSS PALAWAN GREEN
From 17 to 19 July, the Festival Grounds at Palawan Green will feature six immersive zones, anchored by the iconic Cupola Stage, which serves as both the festival’s main stage and its central gathering point. Featuring the signature overhead canopy first introduced in 2019, this expansive 2,000 sqm space will host large-scale group movement sessions led by global fitness personalities by day, and performances by global music acts by night.
Surrounding this are five additional zones, each offering a distinct experience:.
- Flow Studios
Dedicated movement spaces that will host a diverse lineup of classes throughout the festival, including yoga, pilates, barre, mobility training and functional fitness sessions.
- Mind Oasis
A calming sanctuary focused on mental wellbeing, featuring guided meditation, breathwork and mindfulness sessions, alongside intimate conversations on topics such as stress management, sleep optimisation and sustainable wellbeing. - Makers Meadow
A creative corner offering hands-on workshops and craft experiences that encourage self-expression and mindful engagement. - Recharge Bay
A recovery-focused zone with ice baths, guided stretching, muscle recovery treatments and relaxation spaces designed to support post-workout recovery. - Glow Commons
A curated mix of F&B concepts designed to fuel, refresh and indulge across the day. Highlights include Blue Smoke in collaboration with Bobby Supatra, bringing together a unique one-off menu created exclusively for Glow, alongside local favourites such as Dearborn, KORIO and Acai Collective.
ISLAND-WIDE ACTIVATIONS
Running throughout the festival period from 10 to 19 July, Glow will extend beyond the main Festival Grounds with a curated programme of wellness offerings that will be available across Sentosa’s most iconic hospitality spaces including Raffles Sentosa Singapore, Sofitel Singapore Sentosa Resort & Spa, Amara Sanctuary Resort Sentosa, W Singapore Sentosa Cove and Shangri-La Rasa Sentosa.
Lilian Chee, Director of Sports, Singapore Tourism Board, said: “We are excited to partner with Exceed Sports & Entertainment to bring Glow Festival back for its fifth and most ambitious edition. This year’s festival features expanded programmes, bringing together renowned wellness practitioners, innovative products and immersive experiences. This aligns with STB’s Tourism 2040 vision to develop Singapore as a compelling destination, with wellness and quality leisure events identified as key growth opportunities. As wellness tourism continues to grow globally, this homegrown festival showcases Singapore’s wide breadth of wellness activities while delivering meaningful experiences for locals and visitors, strengthening our position as a leading urban wellness destination.”
TICKETING INFORMATION
Tickets for Glow Festival will be available across a range of options designed for individuals, groups and families, including Day Passes ($59–$75) for daytime wellness programming, Evening Passes ($89–$110) for sunset sessions and headline performances, and Weekend Passes ($199–$229) for full access across all festival days at the Palawan Green Festival Grounds, with free entry for children under six and reduced pricing for ages six to twelve. More information and tickets are available at https://glowfestival.sg/.
For media enquiries please get in touch with glowfest@wcommunications.sg.
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Hashtag: #GlowFestival
The issuer is solely responsible for the content of this announcement.
– Published and distributed with permission of Media-Outreach.com.
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9. Tax Reform – Facebook just the tip of the iceberg of Big Tech tax minimisation – new report
June 18, 2026
Recent reporting has highlighted Facebook’s practice of minimising the tax they pay in Aotearoa New Zealand, but fresh analysis released by the Better Taxes for a Better Future campaign shows this is a widespread practice among multinational tech companies – not just Facebook, and the amount of money being moved offshore is increasing, taking our tax revenue with it.
In an update to the 2025 Big Tech Little Tax report, author Nick Miller reviews the most recent financial statements of some of the biggest technology companies and looks back over the last 5 years to examine the trends.
“Google NZ paid away about 92% of its revenue in so called “service fees” to an associated company in Singapore in 2021 and has continued to do so every year, In that [5 year] period, its New Zealand revenues have increased by 66%…Google NZ has paid an aggregate sum of nearly $4.75bn to Google Asia Pacific Pte in Singapore while its average annual payment of corporate income tax [in New Zealand] has been about $6m.”
“[Amazon Web Services New Zealand Ltd’s] revenues have increased by over 400% in the same 5 year period. The amount paid out as a service fee to its parent and other group companies quickly rose in 2022 to over 70% of revenue and has remained at that level. AWS NZ has therefore paid away almost $1.25bn to Amazon group companies over the 5 years while paying just over $10m in tax.”
[Report extract]
The updated report also looks at the two Uber operating companies and finds that they appear remarkably similar to Google and Facebook in terms of the size of the “service fees” paid to associated companies, how little taxable profits are reported and that almost no corporate income tax is paid here.
“This updated research shows that for at least the past five years, many of these Big Tech companies have been describing as “service fees” payments to group companies that appear likely to be mainly for the use of intellectual property. These ought to be regarded as “royalties” under existing New Zealand law and double taxation agreements, and subject to withholding taxes,” says report author, Nick Miller.
“By miscategorising these payments, companies that are earning aggregate revenues of billions of dollars in New Zealand are avoiding these taxes and minimising the overall tax they are contributing back into our economy.”
Another area of concern is the practice adopted by Microsoft and Amazon data centres operating in New Zealand whereby the local subsidiaries receive a service fee from group companies while the actual revenue earned by the centre seems likely to be reported elsewhere.
There are still more companies that we don’t know anything about because they are not required to file financial statements because their assets were less than $22 million or their revenue was less than $11 million.
“These companies include MasterCard NZ, Netflix NZ, Booking,Com, AirBnB even though it is obvious that the revenues earned in New Zealand by these groups are going to be many times greater than $11m…these companies operate a “service company” model in which the New Zealand subsidiary is remunerated for services while the revenue generated by the activities of the subsidiary here is paid offshore.”
[Report extract]
“Overall a conservative estimate of the tax loss to New Zealand over the last five years is over $600 million from just eight of the big tech companies. This excludes many tax minimising multinationals, including those that aren’t disclosing their financials,” says Miller.
“Just this week we’ve seen Elon Musk be crowned the first trillionaire, and tech loomed large in the NBR’s Rich List. These companies are generating enormous profits for their executives and shareholders, relying on our infrastructure and services, but are not paying their fair share to maintain them. The Government needs to stand up for local businesses and hard working New Zealanders and make Big Tech pay.”
Read the updated analysis: https://www.bettertaxes.nz/big_tech_little_tax_update?e=a058f8e1b0ba0a060f4e57ba89e35ae1&utm_source=tja&utm_medium=email&utm_campaign=big_tech_update&n=3
Read the 2025 Big Tech Little Tax full report. See recommendations from Big Tech Little Tax report here: https://www.bettertaxes.nz/big_tech_little_tax?e=a058f8e1b0ba0a060f4e57ba89e35ae1&utm_source=tja&utm_medium=email&utm_campaign=big_tech_update&n=5
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10. New parents to receive increased support
June 18, 2026
Source: New Zealand Government
The amount paid to parents taking time off from work to care for their new children will increase from 1 July 2026, Workplace Relations and Safety Minister Brooke van Velden announced today.
The maximum weekly paid parental leave rate will increase to $811.05 per week from $788.66, in line with movement in average weekly earnings.
“Eligible parents can count on this valuable financial support for up to 26 weeks when taking leave from their job to care for their new child,” says Brooke van Velden.
“The first weeks after the arrival of a new baby are incredibly special, and crucial for parents being able to bond with their child.
“I also recognise that this time will look different depending on a person’s circumstances, and our paid parental leave scheme accounts for that.
“While this most often applies to parents with a newborn, it also applies to those who have suffered miscarriage or stillbirth to allow time away for rest and recovery in these difficult situations. Support is also available to those who have adopted or had a child born through surrogacy.
“As an expectant mother myself, I give my congratulations to every Kiwi awaiting the arrival of their baby and wish them a speedy recovery and special time with their baby in the months ahead.”
For more information about parental leave including eligibility, payments and returning to work visit the Employment New Zealand website.
Notes for editor:
The increase to paid parental leave rates is a legislated annual increase under the Parental Leave and Employment Protection Act 1987. It applies to employees and self-employed parents.
Under the Parental Leave and Employment Protection Act 1987, eligible parents are entitled to payments equal to their normal pay up to the current maximum rate. The maximum rate is adjusted annually to account for any increase in average ordinary time weekly earnings.
The minimum paid parental leave rate for self-employed people will increase to $239.50 per week from $235.00. This reflects the increase to the minimum wage effective from 1 April 2026.
Original source: https://nz.mil-osi.com/2026/06/18/new-parents-to-receive-increased-support/
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