PM Edition: Here are the top 10 business articles on LiveNews.co.nz for September 18, 2026 – Full Text
1. NZ Professionals Set to Benefit as Surging Cook Islands Finance Sector Creates Dozens of Roles – Report
September 17, 2026
Source: Southpac Group
New Zealand lawyers, accountants and compliance specialists are set to benefit from rapid growth in the Cook Islands financial services export sector, where new international trust registrations have risen almost 90 percent in two years, creating a growing shortage of skilled workers.
Industry experts say the expansion could also create opportunities for New Zealand fintech and regulatory-technology firms providing trust administration, compliance, identity verification, cybersecurity and international payment solutions.
A new Cook Islands Government report shows financial and insurance services contributed more than NZ$48 million to the economy in 2024/25, up around 27 percent from NZ$38 million in 2019/20.1
The sector now accounts for 8.54 percent of real GDP, up from 8.32 percent the previous year.
New international trust registrations rose 42 percent in the past year to a record 433, almost 90 percent above the level recorded two years earlier.
The surging sector is helping diversify the tourism-reliant nation through higher-value, low-environmental-impact services that can operate remotely during disruptions to international travel.
The growth is being driven in part by international demand for Cook Islands asset protection trusts. The jurisdiction has developed a global reputation for its asset protection legislation, which has been in place for more than four decades.
Individual providers administer billions of dollars in client assets through international trust structures, much of it for North American clients, with the Government report showing approximately 85 percent of licensed trustee company revenue comes from US clients, primarily through asset protection structures.
Tauranga-based financial services firm Southpac Group, which specialises in international asset protection and trust administration, reports approximately US$4 billion under administration across its international operations.
Southpac Group CEO Mike Arand says demand is being supported by heightened concern about litigation and professional and business risks in North America.
The number of established roles across the wider financial sector increased from 257 in 2020 to 325 in 2025, a rise of 68 roles or approximately 26 percent.
The sector currently has 299 filled positions, with dozens of roles remaining vacant across legal, accounting, trust administration, compliance and technology functions.
Arand says New Zealand is well placed to help meet the demand.
“The jurisdiction has developed a global reputation for its asset protection trust legislation and is now administering billions of dollars in assets for international clients.
“Financial services contribute more than twice as much to the Cook Islands economy as agriculture, fishing and construction combined.
“Continued growth will depend on access to highly skilled professionals. New Zealand is an obvious source of that expertise because of the close legal, economic and constitutional relationship between the two countries.”
Arand says the opportunity extends beyond supplying professional expertise.
“As the Cook Islands industry expands, it will require more sophisticated systems for trust administration, regulatory compliance, identity verification, cybersecurity, payments and international client servicing.”
Southpac Group lawyer and director of business development Matthew Smith says the rise in trust registrations reflects growing international awareness of the need to protect personal wealth before disputes arise.
“We are seeing more business owners and professionals consider asset protection as part of their broader risk-management and succession planning rather than waiting until a legal claim emerges.
“The Cook Islands has a long-established legal framework, but the industry supporting it must continue investing in specialist people, compliance systems and technology as the number and complexity of international structures grow.”
The Cook Islands is self-governing in free association with New Zealand, uses the New Zealand dollar and its people hold New Zealand citizenship.
New Zealand is also home to a substantially larger Cook Islands population than the islands themselves, providing a potential pool of professionals who could return home, work remotely or support Cook Islands firms from New Zealand.
Smith says the concentration of trustee company revenue in the United States has made North American wealth an important driver of the Cook Islands financial services economy.
He says the jurisdiction’s established legal framework and four-decade track record have helped it build credibility among US lawyers, wealth advisers, business owners and professionals.
“The United States has driven much of the sector’s recent growth and will remain its most important market.
“As demand increases, the Cook Islands will need to ensure its legal, regulatory and technology infrastructure continues to meet the expectations of increasingly sophisticated international clients.”
Arand says attracting more international financial services and technology businesses could further expand local employment.
“The next phase is not only about registering more trusts. It is about attracting technology, expertise and investment that deepen the industry’s presence in the Cook Islands.
“The opportunity now is to strengthen its links with New Zealand and ensure its workforce, training systems, regulation and technology develop at the same pace as international demand.”
Asset protection trusts are intended for lawful planning before claims or disputes arise and do not override tax, criminal, insolvency or disclosure obligations.
Cook Islands Financial Services Development Authority, Annual Report 2024-2025, published online in May 2026.
https://cookislandsfinance.com/wp-content/uploads/2026/05/2024-2025-Annual-Report-_online2.pdf
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2. Passing Shower or Gathering Storm? Rising Bond Yield Implications for Financial Institutions
September 17, 2026
Source: Morningstar DBRS
September 8, 2026
Overview
For financial institutions, the implications of rising global bond yields are mixed. Firstly, banks with capital markets businesses are clear winners as they benefit from robust underwriting and trading results. Typically, higher yields would slow debt issuance, but hyperscalers and others appear to be less price sensitive, contributing to very high levels of issuance.
Conversely, noninvestment-grade financial institutions issuers will likely see higher spreads and an increase in overall funding costs, as investors can be more selective while earning an attractive yield on less risky fixed income securities.
Higher rates are also likely to slow originations as the cost of borrowing increases, which may also pressure asset quality, especially for borrowers with floating-rate loans. Subsequently, earnings will be pressured by lower originations, increased credit costs, and a higher cost of funds.
Bank and insurance fixed income securities portfolios will also suffer from unrealized losses, whose effects on earnings and capital can, however, be offset by proper asset-liability matching or interest rate hedging in the short to medium term. Moreover, higher yields will also allow banks and insurers to reinvest their maturing securities at better yields going forward. While there will clearly be some winners and losers, we expect the vast majority of our financial institutions coverage universe to remain resilient and maintain credit profiles commensurate with their current credit ratings.
Key Highlights
- Clear winners are those banks with capital markets businesses that are benefiting from robust underwriting and trading results.
- Conversely, non-investment grade financial institutions issuers will likely see higher spreads and overall funding costs, as investors can be more selective while already earning a nice yield on less risky fixed income securities.
- While there will clearly be some winners and losers, we expect the vast majority of our financial institutions coverage universe to remain resilient and maintain credit profiles commensurate with their current credit ratings.
Exhibit 1: 10-Year Government Bond Yields 2026 Year to Date
Series: U.S.; Germany; United Kingdom; France; Japan.
Source: Morningstar, Inc.
Inflation Expectations and Plenty of Debt Financing Needs Result in Rising Yields
The Iran conflict has added inflationary fears over higher rates for longer. Meanwhile, global debt issuance has grown materially, which is also causing yields to rise. According to the Securities Industry and Financial Markets Association (SIFMA), U.S. corporate debt issuance year-to-date through July 2026 was $1,681.0 billion, an increase of 26.9% year over year, with 2025 being a higher-than-average issuance year to begin with. Including treasuries, mortgage-backed securities, municipals, agency, and asset-backed securities, this total jumps to $7,400.6 billion, an increase of 10.8% (see Exhibit 2). With higher costs, businesses typically pull back on issuance. However, hyperscalers have thus far proven somewhat insensitive to yields as they race to be leaders in artificial intelligence. Issuance is likely to stay elevated for a longer period of time—especially if we layer in other needs for investment such as military spending—with the potential to continue putting upward pressure on yields.
Exhibit 2: U.S. Fixed-Income Securities Issuance (USD billions)
| Category | H1 2025 | H1 2026 |
|---|---|---|
| U.S. Corporates | 1,228.8 | 1,681.0 |
| U.S. Fixed Income | 6,601.3 | 7,400.6 |
Source: SIFMA.
Financial Institutions Asset Quality Performing Better Than Expected
Financial institutions globally continue to demonstrate resiliency despite inflation, trade wars, and heightened geopolitical risk. While some jurisdictions have seen increasing levels of delinquencies, nonperforming loans, and net charge-offs, they generally remain very manageable. Overall, asset quality performance has held up better than we anticipated.
Higher interest rates do affect consumers and businesses, especially those with floating-rate loans. Real estate valuations typically suffer as rates increase, but commercial real estate appears to have stabilized, with minimal issues, and home values in many geographies are stable to increasing. Leveraged corporates are most susceptible to higher rates, as well as lower-income households. Additionally, higher rates will likely also subdue demand for loans, especially residential real estate. Nonetheless, we currently view banks globally as adequately reserved with sound capital if their economies do deteriorate. Similarly, most insurance and non-bank financials continue to manage their balance sheet fundamentals appropriately in the current operating environment.
The Impact on Bond Portfolios of Financial Institutions
Higher yields mean lower prices for bonds, which will lead to higher unrealized losses in bond portfolios. Insurers, which often use fixed-income assets to match future claims and benefits cash flows, typically have the largest fixed-income securities portfolios as a percentage of assets, followed by banks. We note that many banks have reduced exposures in recent years by repositioning their portfolios, especially in the U.S.
Since financial institutions typically have some level of interest rate hedges in place, it is hard to generalize the potential impacts. However, higher yields and interest rates did show some weakness in interest rate management in 2023 when there were several high-profile U.S. regional bank failures. Most banks in our coverage universe, however, do incorporate unrealized losses on securities into their capital ratios. On the positive side, financial institutions can reinvest maturing securities into higher yielding ones, as well as put new premiums to work into higher yielding assets that otherwise would have similar risk profiles.
Leverage and Asset Values
Higher interest rates typically make fixed income securities look more attractive relative to stocks, but stocks have remained at near-record highs. Strong earnings growth has been supportive, but there have been plenty of discussions in the media about a potential bubble. Regardless, investors remain exuberant with markets at or near all-time highs, as evidenced by near-record levels of leverage. The Financial Regulatory Authority reported margin balances of $1.417 trillion at the end of July 2026. As a cautionary note, we believe margin calls can lead to heavy forced selling exacerbating losses, as seen recently with Situational Awareness and the South Korean stock market.
Lastly, the wealth and asset management businesses of financial institutions globally have benefitted from rising global markets. If it holds true that higher yields eventually lead to a correction, we expect earnings for these business lines would be hit from lower fees.
Related Research
- Global P&C Reinsurers H1 2026: Solid Earnings Driven by Lower Cat Losses and Resilient Investment Income, August 13, 2026.
- Key Takeaways from European Banks’ Q2 2026 Earnings Season, August 10, 2026.
- U.S. Banks Deliver Another Strong Quarter in Q2 2026 as Credit Fundamentals Remain Resilient, August 4, 2026.
- European Banking Midyear Outlook: Middle East Conflict Not Derailing Positive Earnings Dynamics, July 20, 2026.
- Finance Company Debt Issuance Holds Steady in H1 2026 Despite Turbulent Environment, July 16, 2026.
- Japanese Mega Banks’ Record F2025 Earnings Reflect a Tailwind from Rising Domestic Rates, July 12, 2026.
- Major Australia Banks H1 2026 Results: Strong Fundamentals Amid Slower Growth and Heightened Uncertainty, July 7, 2026.
- 2026 U.S. Bank Federal Reserve Stress Test Results: Key Takeaways, June 26, 2026.
- Middle East Conflict is Leading to Higher Provisions for Some Global Banks, June 2, 2026.
- Japanese Life Insurers are Managing Mark-to-Market Losses on Bonds While Showcasing Earnings Resilience, May 10, 2026.
- Geopolitical Shock in the Gulf Raises Underwriting Volatility Across Insurance Lines, March 2, 2026.
About Morningstar DBRS
Morningstar DBRS is a leading provider of independent credit rating services and opinions for corporate and sovereign entities, financial institutions, and project and structured finance instruments globally. Rating more than 4,500 issuers and 68,000 securities, we are one of the top four credit rating agencies in the world and a market leader in Canada, the U.S., and Europe in multiple asset classes.
For 50 years, Morningstar DBRS has been committed to bringing greater transparency and a much-needed diversity of opinion in the credit rating industry. Our nimble approach combined with Morningstar’s global scale and resources enable us to respond to customers’ needs in their local markets while also empowering investor success worldwide. Learn more at dbrs.morningstar.com.
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3. Hong Kong Design Centre Welcomes New Policy Measures in the HKSAR’s First Five-Year Plan for Economic and Social Development (2026-2030) and the Chief Executive’s 2026 Policy Address
September 17, 2026
Source: Media Outreach
Supporting Enterprises to Go Global, Strengthening Talent Nurturing, Promoting Design Mega Events, and Reinforcing Hong Kong’s Positioning as an East-meets-West Centre for International Cultural Exchange
HONG KONG SAR – Media OutReach Newswire – 17 September 2026 – Hong Kong Design Centre (HKDC) welcomes the initiatives outlined in The First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026–2030) (The First Five-Year Plan) and the Chief Executive’s 2026 Policy Address, in particular to strengthen support for local design enterprises to go global, nurture design talent, promote design mega events in Hong Kong, and further reinforce Hong Kong’s pivotal role as an ‘East-meets-West centre for international cultural exchange’.
Mr Steve Leung, Chairman of Hong Kong Design Centre, stated, ‘The current-term Government has achieved encouraging results in promoting the development of the design industry. One notable example is the Hong Kong Fashion Fest, an annual mega event launched in response to the Chief Executive’s 2023 Policy Address, which has gained increasing recognition from both the industry and the public, positioning Hong Kong as Asia’s leading fashion design hub. The First Five-Year Plan further enumerates a blueprint and vision for the city’s overall development. The 2026 Policy Address also aligns with and supports the objectives of The First Five-Year Plan by outlining concrete measures to drive development.’
Mr Steve Leung continued, ‘In response to the recommendations set out in the 2024 Policy Address, Hong Kong Design Centre has completed the restructuring of its organisation and functions, and has been progressively implementing a new development roadmap and direction. The Centre will fully align with The First Five-Year Plan and the Government’s initiatives, while actively integrating into and serving the overall national development. Through our various flagship programmes, we will continue to focus on helping design enterprises enhance their products and brand design capabilities and services, strengthening collaboration and interface between start-ups and Chinese Mainland enterprises, and driving Hong Kong’s design industry to go global for more business opportunities.’
To align with the Government’s efforts in implementing the ‘Bringing in and Going Global’ strategy, and to leverage its role as a platform for overseas expansion, HKDC launched its Outreach Programme last year, leading Hong Kong’s emerging designers to participate for the first time in Shanghai Fashion Week and the ‘Think Business, Think Hong Kong’ programme in Milan. This year, the programme will continue across Chinese Mainland and overseas cities, assisting Hong Kong’s design and creative talents to explore new markets, while leveraging Hong Kong’s role as a ‘super connector’ and ‘super value-adder’ in driving global design industry exchange.
Regarding nurturing of talents, HKDC continues to refine its incubation function. A new design incubation programme will be launched this year, assisting potential design enterprises in achieving high-quality development. The programme aims to incubate design start-ups established for one to three years, and provides in-depth support to enterprises established for three to 15 years. Together, these help design businesses across different disciplines and stages of development build a solid business foundation, drive brand upgrading and market expansion, thereby achieving sustainable growth and generating fresh momentum for Hong Kong’s creative economy.
In recent years, the Government has been vigorously promoting the hosting of world-class design mega events in Hong Kong. HKDC is honoured to expand its annual flagship event, Business of Design Week (BODW) in 2026/27, and re-brand BODW in the City as DESIGN@HKG. From November onwards, HKDC will collaborate with venue partners, international and local brands, and designers, to present a wider range of design programmes across different districts in Hong Kong. Through interactive experiences, the initiative will infuse local design culture and creative elements into every corner of the city, encouraging participation from corporate brands, tourists, and the general public. At the same time, leveraging BODW Summit to gather global creative leaders and entrepreneurs to Hong Kong for exchange, while connecting design-themed activities across the city, creates synergy and fosters greater creative atmosphere. The DX design hub in Sham Shui Po will continue to curate a diverse range of thematic design exhibitions, fashion retail and immersive design experiences, energising community creativity, fostering cross-sectoral exchange and commercial collaboration, and promoting the local economy and cultural tourism.
In support of the Government’s drive to reinforce Hong Kong’s position as Asia’s leading hub for fashion design and retail through the continued staging of the annual mega event, Hong Kong Fashion Fest, HKDC is delighted to have partnered for the first time with Camera Nazionale della Moda Italiana (CNMI), the organiser of Milan Fashion Week. Together, HKDC and CNMI co-curated the ‘Future Threads: Menswear’s New Waves Between Italy and Hong Kong’ Exhibition, one of the flagship programmes of this year’s Hong Kong Fashion Fest. Meanwhile, HKDC’s fashion initiative, Fashion Asia Hong Kong, presented its two highlight events ‘Fashion Challenges Forum’ and ’10 Asian Designers to Watch’ Exhibition’, bringing Asia’s avant-garde design to the international stage.
As a strategic partner of the HKSAR Government, HKDC is committed to promoting design and creative culture, with a view to reinforcing Hong Kong’s position as an international design hub. HKDC will continue to fully support the Government’s policy initiatives to foster the development of the cultural and creative industries in Hong Kong. Working hand in hand with the industry, we strive to thoroughly implement Hong Kong’s positioning as the ‘East-meets-West centre for international cultural exchange’ under the National 15th Five-Year Plan.
Hashtag: #HKDC
About Hong Kong Design Centre
The major programmes include Business of Design Week (BODW), bodw Future Lab, DFA Awards, Fashion Asia Hong Kong and DESIGN@HKG (formerly BODW In the City). Since 2024, we have also been operating the DX design hub in Sham Shui Po, dedicated to fostering emerging design talents and facilitating collaborations and exchanges in the design industry, as well as providing visitors an immersive experience through innovative exhibitions, fashion showcases and cultural events.
To achieve our goals we:
- Cultivate a culture of design
- Bridge stakeholders to opportunities that unleash the power of design
- Promote excellence in various design disciplines
About Cultural and Creative Industries Development Agency
The Cultural and Creative Industries Development Agency (CCIDA), formerly known as Create Hong Kong (CreateHK) since 2009, was established in June 2024. CCIDA is a dedicated office under the Culture, Sports and Tourism Bureau of the Government of the Hong Kong Special Administrative Region (HKSAR Government) to provide one-stop services and support to the cultural and creative sectors with a mission to foster a conducive environment in Hong Kong to facilitate development of the arts, culture and creative sectors as industries. CCIDA’s strategic foci are nurturing talent and facilitating start-ups, exploring markets, promoting cross-sectoral and multi-disciplinary collaboration, promoting industrialisation of the arts, culture and creative sectors under the industry-oriented principle, and fostering a creative atmosphere in the community, thereby reinforcing Hong Kong as Asia’s creative capital and our positioning as the East-meets-West centre for international cultural exchange.
Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to some of HKDC’s activities/projects only, and does not otherwise take part in such funded activities/projects. Any opinions, findings, conclusions or recommendations expressed in this publication and relevant materials/events (or by members of the project teams) are those of HKDC only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, the Cultural and Creative Industries Development Agency, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.
The issuer is solely responsible for the content of this announcement.
– Published and distributed with permission of Media-Outreach.com.
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4. Commonsense change to help people get home safely
September 17, 2026
Source: New Zealand Government
Regulation Minister David Seymour and Transport Minister Chris Bishop have today announced the next steps in the implementation of the Ministry for Regulation’s Hospitality Sector Review.
“Today we are deleting more stupid rules and cutting more red tape to help hospitality businesses who want to offer drop-off services to their customers,” Mr Seymour says.
“Currently if a hospitality business accepts financial contributions towards the running costs of their transport service, or charges patrons, it triggers passenger service requirements. This means they are treated like a taxi service. We’re fixing that.
“I heard from one business who were paying about $12,000 per month to offer their customers rides home. That was coming straight out of their pocket. Not being able to cover those costs in a meaningful way prevents more venues from offering this service.
“The Review found that whether a business accepts financial contributions or not has zero effect on how safe the ride service is. It’s just a barrier to more hospitality businesses offering this service for their customers. That’s why the Government is accepting the Ministry for Regulation’s recommendation to scrap those rules.
“There are many places in New Zealand where traditional ride services are unavailable. If the local pub offers a ride service, people who shouldn’t be driving home have a better option.”
Mr Bishop says this is a practical change that will make it easier for hospitality businesses to get people home safely and help reduce the risk of drink driving, particularly in our rural communities.
“Some hospitality businesses, mainly clubs, offer transport services to their customers and members. This is often done to prevent customers or members drinking and driving to make our roads safer.
“We want more hospitality businesses to have the means to offer them, so more Kiwis can benefit from them. That’s why we are making this change.
“These changes have been added the existing transport regulatory reform work programme, with the intention of being in force by mid-2027.
“The Review also found the hospitality sector has experienced inconsistency in how excessive noise is dealt with by councils. The Government intends to improve standardisation of noise controls across the country under the new Planning system which will ensure greater consistency.
“In the meantime, guidance on managing excessive noise is available through the Quality Planning website administered by MCERT, supporting councils to take a more consistent approach to assessing and responding to noise complaints.
“The Government is committed to growing New Zealand’s night-time economy, with recent decisions supporting major events at Eden Park and enabling Christchurch to promote a more vibrant city centre through improved noise controls.”
Original source: https://nz.mil-osi.com/2026/09/17/commonsense-change-to-help-people-get-home-safely/
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5. GDP resilience points to improving outlook for business
September 17, 2026
Source: Employers and Manufacturers Association
The EMA (Employers and Manufacturers Association) says today’s GDP figures, showing 0.2% growth in the June quarter, indicate the economic recovery remains on track despite the impact of the conflict in the Middle East during the quarter.
“When you consider the massive spike in petrol and diesel prices in April, it’s positive that the economy grew at all during the quarter,” says EMA Head of Advocacy Alan McDonald.
“Annual GDP growth for the year ended June 2026 was 1.7%, which is a solid result given the pressures businesses have faced over the past 12 months.
“The June quarter was particularly testing, with energy costs weighing on business confidence. Against that backdrop, even modest growth demonstrates a level of resilience that can’t be overlooked.”
McDonald says many businesses developed contingency plans amid concerns about potential fuel shortages and supply chain disruption following developments in the Middle East.
“There was genuine concern across the business community about how severe the impacts might be. While prices rose sharply and continue to place pressure on businesses, the worst-case scenarios did not eventuate.
“The Government provided reassurance about fuel availability and managed the situation effectively. This helped businesses avoid widespread disruption and supported a faster-than-expected recovery in confidence.”
Recent inflation data shows fuel costs adding to existing pressures and creating challenges for firms already operating on tight margins. Inflation has risen to 4.1%, driven in part by a 71% increase in diesel prices and a 27% increase in petrol prices. The fact that the economy continued to grow highlights the recovery is coming.
McDonald said business feedback from the EMA’s recent regional briefing round suggests a more optimistic outlook is emerging.
“While many businesses are telling us it’s still tough, there is increasing evidence that firms are beginning to look ahead with greater confidence than they were six months ago.”
“Much of the current strength is being driven by the success of our primary industries, but we’re also seeing a growing strength in the performance of the manufacturing sector.
“We’ve now seen growth in three successive quarters, albeit cautious growth. Businesses now need certainty, stability and confidence for growth to continue and to start hiring and investing.”
One of New Zealand’s longer-term economic challenges remains ensuring workers have the skills required by employers, McDonald says.
“We need to remain focused on preparing young people for work and helping more New Zealanders successfully enter the workforce.”
“We also need to think about how we continue upskilling and retraining workers throughout their careers. Strong economic growth ultimately depends on having the skilled workforce businesses need to succeed.”
The EMA expects economic conditions during the September quarter to provide a clearer picture of the strength of the recovery and remains cautiously optimistic about the outlook for growth over the coming year.
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6. “Beijing Declaration on Natural Diamonds and Sustainable Development” Signed in Beijing, Ushering in a New Chapter for China-Africa Natural Diamond Industry Cooperation
September 17, 2026
Source: Media Outreach
The Beijing Declaration recognises the global nature of the diamond industry and acknowledges the connection from the positive socioeconomic impact felt in diamond-producing countries to China’s consumers of diamond jewellery, who are increasingly looking for authenticity and individuality in their jewellery choices.
Hosted by the Shanghai Diamond Exchange, the event and signing ceremony in Beijing brought together government representatives of Botswana, Namibia and South Africa, with senior figures from China’s jewellery industry and the global natural diamond industry. In the spirit of the Forum on China-Africa Cooperation, participants held in-depth exchanges on the current state of the global natural diamond industry, including consumer and retail trends in China, the socioeconomic impact of the natural diamond industry across diamond-producing countries in Africa and future industry cooperation priorities.
Natural diamonds are born of the earth, and behind their value they deliver tangible socioeconomic returns for African diamond-producing nations: driving economic growth, providing jobs, livelihoods and skills development, and supporting conservation and biodiversity. The Beijing Declaration acknowledges natural diamonds’ unique geological origin, rarity and enduring value, as well as their deep-rooted cultural meaning within Chinese traditions as symbols of purity, beauty and eternal commitment. Through the Beijing Declaration, the industry acknowledges that these positive impacts deserve to be better understood by more Chinese consumers.
Rooted in the long-term friendly relations and mutually beneficial cooperation between China and Africa, the Beijing Declaration sets forth a shared vision for advancing sustainable development of the natural diamond industry, aligned with the United Nations Sustainable Development Goals (SDGs) and the African Union’s Agenda 2063.
The Beijing Declaration builds a shared vision for deepening exchange and cooperation across the natural diamond value chain. It proposes support for African diamond-producing countries in enhancing local value creation capacity, strengthening skills training and promoting economic diversification; further enhancing transparent and objective consumer communication on the origin of natural diamonds and their socioeconomic impact; deepening market links between African diamond-producing countries and Chinese consumers; and, relying on existing bilateral and multilateral China-Africa cooperation mechanisms, further expanding exchange and cooperation to jointly promote more inclusive and sustainable economic development.
As an important element of the global natural diamond industry, China’s consumer market is steadily maturing. As a State Council-approved national diamond trading platform, the Shanghai Diamond Exchange plays an important role in connecting the global natural diamond supply chain with Chinese consumers, providing integrated customs, tax and certification services, and serving as a permanent member of the Executive Committee of the World Federation of Diamond Bourses (WFDB). Chinese consumers are extending their attention to natural diamonds to authenticity, traceable provenance, cultural meaning and enduring value.
The key advocates of the Beijing Declaration were:
- Mr. Lin Qiang, President of the Shanghai Diamond Exchange
- H.E. Prof. Lekoko S. Kenosi, Ambassador of Botswana to the People’s Republic of China
- Ms. Nosiphiwo Mzamo, Chief Executive Officer, South African State Diamond Trader
- H.E. Ms. Tonata Itenge-Emvula, Ambassador of Namibia to the People’s Republic of China
The signing was witnessed by global industry representatives including Mr. Al Cook, CEO of De Beers Group, Ms. Amber Pepper, CEO of the Natural Diamond Council and Ms. Emma Wade-Smith on behalf of the World Diamond Council.
Major Chinese jewellery retail brands were also represented at the signing ceremony, including Chow Tai Fook, Lao Feng Xiang, Chow Sang Sang, Lukfook Jewellery, CHJ Jewelry, Chow Tai Seng, Sino Gem and Kimberlite.
Mr. Lin Qiang, President of the Shanghai Diamond Exchange, said:
“We are delighted to welcome delegations from leading African diamond-producing countries to Beijing. Natural diamonds deliver profound socioeconomic benefits to these nations. As China continues its evolution as a major player in the global diamond industry, we are thrilled to lay important foundations for enhanced collaboration between China and African diamond-producing nations. Today represents a meaningful new beginning: for closer connections, deeper mutual understanding and expanded partnerships. The Shanghai Diamond Exchange will keep fulfilling its role as a platform and bridge. We look forward to future interactions that unlock opportunities for mutually beneficial cooperation, and to bringing the authentic stories and genuine value of natural diamonds to growing numbers of Chinese consumers.”
Al Cook, CEO of De Beers Group, said:
“‘Building Forever’ lies at the heart of De Beers’ approach in Africa. We want every diamond discovered to bring real, positive impact for the people and the land where we find these precious stones. We welcome the Beijing Declaration as a new framework to help us better link African diamond-producing countries with Chinese consumers. We are committed to working across the global diamond industry so that natural diamonds can continue to support jobs and livelihoods and protect the natural environment.”
H.E. Prof. Lekoko S. Kenosi, Ambassador of Botswana to the People’s Republic of China, said:
“For Botswana, diamonds represent far more than luxury gemstones; they are an important resource for national development. Discovered shortly after our independence, diamond resources have financed broad access to quality education, healthcare, infrastructure and livelihood opportunities for generations of Batswana people. We have built local industrial capabilities across sorting, cutting and polishing, and our ambition stretches further: to embed greater technology, expertise and economic value within our borders, diversifying our national economy while safeguarding our precious natural heritage through conservation initiatives such as the Okavango Eternal partnership. A diamond may leave Botswana’s soil, yet the human capital, enterprise development capacity and environmental stewardship its revenue creates remain at home. When Chinese consumers select a diamond to mark marriage, family milestones or personal celebration, their choice connects directly to livelihoods, youth opportunity and national development ambitions within producing nations. We do not ask consumers to bear responsibility for our development, but we urge that this full human story of origin be made visible through informed consumer understanding. The signing of the Beijing Declaration opens a promising new chapter for our bilateral ties, enabling diamonds to serve as a bridge of shared progress between our peoples.”
H.E. Ms. Dipuo Bertha Letsatsi-Duba, Ambassador of South Africa to the People’s Republic of China, said:
“I am very honoured to witness this historic moment of the Beijing Declaration. The Declaration establishes a positive and constructive cooperation framework for signatory countries, provides an open basis for dialogue, cooperation and mutual understanding, and enables African producers and relevant parties in China’s natural diamond industry to further recognize the value of natural diamonds in economic growth, employment and sustainable development. Consumer confidence is crucial, especially for natural diamond products with emotional value. We are deeply proud that natural diamonds can lay the foundation for this cooperation and hope the Beijing Declaration will become one of the best multilateral interactions between China and African diamond production partners.”
Signatory governments to the Beijing Declaration, together with industry representatives from natural diamond trading, manufacturing and retail, will continue follow-up exchange and cooperation to further translate the vision set out in the Declaration into concrete actions. Future cooperation directions include promoting industry market data cooperation, carrying out consumer-facing education programmes on the origin and industry impact of natural diamonds, conducting cross-border exchange on global best practices, and exploring more cooperation opportunities through existing China-Africa sustainable development cooperation mechanisms.
Hashtag: #Naturaldiamonds #Diamonds #SustainableDevelopment #BeijingDeclaration
About Shanghai Diamond Exchange
SDE is a member of the World Federation of Diamond Bourses (WFDB), and has a permanent seat in its executive board made of seven people. SDE President Mr. Lin Qiang is the current Vice President of the WFDB. In 2009, SDE was moved into the new China Diamond Exchange Centre building that covers a total floor area of 49,000 square meters. It is a special venue supervised by the Chinese Customs as a bonded zone. SDE provides “one-stop” services to its members with the settled Customs Office, the Diamond Administration Office, the Taxation Bureau, the NGTC Shanghai Lab, banks, customs agents as well as logistics.
By the end of 2024, SDE has about four-hundred corporate members, almost half of which are foreign invested. SDE members enjoy taxation preferential policies. All the diamonds into and out of the venue are free of tariffs. The Customs collect 4% import VAT on the polished diamonds sold to the Chinese domestic market through SDE instead of the original 13%. By building strong relationship with global diamond centers and supporting major events of the jewelry industry, SDE has created tremendous business opportunities for its members.
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. Economy – Exploring the future of banking in New Zealand – Reserve Bank
September 17, 2026
Source: Reserve Bank of New Zealand – Te Pūtea Matua
17 September 2026
The Reserve Bank of New Zealand – Te Pūtea Matua (RBNZ) has today published a Future of Banking study exploring how banking in New Zealand could evolve over the next decade.
The study emphasises that we are living in a period of profound and accelerating change – with rapid technological innovation, advances in AI, new business models and changing consumer preferences all reshaping banking.
“Understanding how banking could change helps us to prepare for emerging risks and opportunities, and remain effective in supporting a sound, efficient and inclusive financial system,” Assistant Governor Financial Stability Angus McGregor says.
The study identifies key drivers of change and outlines three plausible scenarios for banking in New Zealand by 2035, including:
- Better banks – Banking evolves incrementally as incumbent banks adapt effectively.
- Digital banking revolution – Digital banks and fintechs gain significant market share.
- Banking ecosystems – Banking is increasingly delivered through interconnected ecosystems and digital platforms.
Across the scenarios, potential opportunities include strengthened competition, innovation, participation, efficiency and improved consumer outcomes. Change could also amplify existing risks and create new ones, such as increased operational complexity, third-party concentration, AI related risks and increased activity emerging outside the current regulatory perimeter.
The study considers what these changes could mean for New Zealanders, including how people access banking services, who provides them, and how trust and resilience are maintained.
The study does not recommend specific policy positions. It is intended to support preparedness and contribute to public understanding and discussion about the forces that may shape banking in New Zealand over the coming decade.
“We are not seeking to predict the future, and we do not have a preferred scenario,” Mr McGregor says. “The value of this work is in understanding how banking may evolve, so we can be prepared and support a stable financial system, that is competitive, innovative and inclusive, no matter how the future unfolds.”
More information
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8. Tech Events – Personal AI Takes Root in Africa as More Than 400 Attend ClawCon Nairobi
September 17, 2026
Source: ClawCon Nairobi
NAIROBI, Kenya — September 16, 2026: More than 400 developers, entrepreneurs, technology professionals, students and innovators attended ClawCon Nairobi, Africa’s first community-led personal AI conference, held at Strathmore University.
The huge turnout for the inaugural event reflects a growing interest in a new generation of artificial intelligence that is moving beyond simply answering questions to helping people get things done.
Much of the discussion centred on OpenClaw, an open-source personal AI assistant that can run on a user’s computer, server or cloud environment and, with the necessary permissions, connect to selected communication channels, applications and digital services.
The technology is part of a broader shift in artificial intelligence towards AI agents that can carry out tasks, automate repetitive work and coordinate activities across different digital platforms.
For users, this represents a move away from the traditional chatbot model. Personal AI systems can be configured to individual or organisational needs, supporting specific workflows rather than providing generic responses. Potential applications range from research and information management to administrative tasks, software development, content preparation and the coordination of recurring business activities.
Developer and OpenClaw community member Frank Odongkara said the technology could be particularly useful to African entrepreneurs, professionals and students looking for affordable ways to increase their productivity.
“OpenClaw is an exciting technology leap for African entrepreneurs, professionals, and students. It’s now possible to have an intelligent, personal assistant in your WhatsApp DM that is just yours alone. And it costs next to nothing,” he said.
Hosted by First Circle Capital Partner Agnes Aistleitner, ClawCon Nairobi brought together people from across Kenya’s technology ecosystem, including developers, founders, researchers, creators and business operators.
Through demonstrations and discussions, participants explored how personal AI agents could be applied to everyday work, business operations and the development of new technology products.
The turnout also points to a changing conversation around artificial intelligence in Kenya, and by extension, across Africa.
“Interest is no longer limited to using AI products developed elsewhere. Increasingly, developers and businesses are looking at how these technologies can be built, adapted and applied to local needs,” Ms. Aistleitner said.
OpenClaw was created by Austrian software developer and entrepreneur Peter Steinberger, who previously founded PSPDFKit, a document technology company. What began as a personal project has since developed into an international open-source community of developers, entrepreneurs, researchers and users interested in the possibilities of personal AI.
For Africa’s entrepreneurs and small businesses, the potential is significant. Affordable, customisable AI assistants could take on routine administrative work, support research and information management, and help individuals and small teams access capabilities that might otherwise require additional employees or more sophisticated technology infrastructure.
“ClawCon Nairobi highlighted a fundamental change in the way people are thinking about AI. The question is increasingly shifting from what artificial intelligence can generate to what it can actually do,” Ms. Aistleitner added.
As personal AI continues to develop, it could become a new interface between people and the digital tools they rely on every day – with implications for how individuals work, how businesses operate, and how entrepreneurs build new products and services.
About OpenClaw
OpenClaw is an open-source personal AI assistant designed to enable users to configure AI around their individual workflows, tools and communication channels. The platform forms part of the broader emerging personal AI ecosystem focused on automation, personalised assistance and user-controlled AI.
For more information on documentation and installation guidance, please visit https://www.openclaw.ai
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9. Lee Kum Kee Sauce Actively Participates in the 2026 Fortune Global 500 Forum
September 18, 2026
Source: Media Outreach
Dr. Julie Xing, Global Board Chairman and CEO Discusses New Pathways to High-Quality Growth with Global Business Leaders
GUANGZHOU, CHINA – Media OutReach Newswire – 17 September 2026 – Lee Kum Kee Sauce (“Lee Kum Kee”), the century-old sauce brand and the only sauce and condiments brand among this year’s Forum partners, actively participated in the 2026 Fortune Global 500 Forum, held on September 16 in Guangzhou, China. Julie Xing, Ph.D., Global Board Chairman and Chief Executive Officer of Lee Kum Kee Sauce, was invited to speak at a panel discussion and to attend the Most Powerful Women (MPW) Breakfast, joining other leading global business leaders to explore the key pathways for enterprises to achieve sustainable growth.
Dr. Julie Xing, Global Board Chairman and Chief Executive Officer of Lee Kum Kee Sauce, speaks at the panel discussion of the 2026 Fortune Global 500 Forum, exchanging insights with industry leaders.
Under the theme “The New Growth Equation”, this year’s forum brought Dr. Xing and three other industry leaders, including Pingyi Huang, Senior Vice President of Shandong Weiqiao Pioneering Group Co., Ltd.; Weiming Xiang, Vice President, GE Aerospace and President, GE Aerospace Greater China; and John Qu, Senior Partner, McKinsey & Company, for a panel discussion titled “The Invisible Moat: Revaluing Soft Power and Sustainability”. Moderated by Wei Yue, Senior Editor at Fortune China, the discussion explored what truly constitutes long-term advantages that can withstand cycles amid rapid technological iteration and intensifying competition. Topics spanned brand trust and consumer mindshare in consumer goods, data insights and organizational transformation in the AI era, and the pathways and stages of globalization for Chinese enterprises.
During the panel discussion, Dr. Xing points out that a true moat is a 360-degree, multi-dimensional structure built on product quality, consumer experience, emotional value, and innovative scenarios. (Photo credit: Fortune Global 500 Forum)
On the topic of Chinese enterprise globalization, Dr. Xing shared a three-stage pathway from product export to local manufacturing to glocalization, emphasizing that true globalization means deeply understanding local consumers and serving local markets with local insights.
Dr. Julie Xing, named to the 2026 Fortune China MPW list, attends the MPW Breakfast and shares her thoughts on corporate competitiveness in the AI era. (Photo credit: Fortune Global 500 Forum)
During the Forum, Dr. Xing was invited to share her insights at the MPW Breakfast themed “Decision-Making Power in the Age of Efficiency”, where she joined leaders from across industries to discuss opportunities and challenges for businesses in the new era. She highlighted that while AI enhances operational efficiency, human judgment, leadership and long-termism remain more critical competitive advantages.
As a recipient of the 2026 Fortune China’s MPW list, Dr. Xing has earned this recognition for three consecutive years. Launched in 2010, the MPW list is regarded as one of the most representative rankings of women business leaders in China.
The Fortune Global 500 Forum this year brought together representatives from over 350 leading global companies, academic institutions, and business leaders worldwide. Discussions focused on topics including artificial intelligence, global supply chain transformation, sustainable development, and opportunities in emerging markets.
Looking ahead, Lee Kum Kee will continue to uphold its commitment to quality and innovation. Alongside driving business growth, the company will further deepen its sustainability practices, nurture talent, and enhance corporate governance, working with all stakeholders to forge new pathways to high-quality growth.
Hashtag: #LeeKumKee #LKK
About Lee Kum Kee Sauce
About Fortune
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. June GDP figures show there is a long way to go before working people benefit from growth again
September 17, 2026
Source: NZCTU
“The economy grew 0.2 percent in the June quarter, but there is a long way to go before we have dug ourselves out of the hole we have sunk into under this Government”, says NZCTU Te Kauae Kaimahi President Sandra Grey.
“GDP per capita basis is still 1.5 percent below where it was three years ago”, says Grey.
“Growth has been weaker in New Zealand than our peer countries, Australia, the UK, and the US all growing at twice the rate that we did in the June quarter, and the Euro Area growing at thrice the rate”, says Grey.
“There was some growth in construction, which is welcome. But this industry has taken an absolute hammering over the past three years. Compared to the same quarter three years ago, construction output is down almost 10 percent”, says Grey.
“Working families have been struggling with the rising cost of living and job insecurity over recent years and this will remain the case over the next year. This has been restricting consumer spending”, says Grey.
Household spending on durable goods is still lower than it was in the June 2023 quarter and spending on non-durable goods is flat.
“The growth that we have seen has not been shared evenly. The broad measure of business profits has grown much faster than employee compensation”, says Grey.
Annual average growth in operating surplus and mixed income was 7.4 percent while compensation of employees grew just 2.7 percent.
“We have seen a drop in the labour income share over this government’s term. This indicates that more of the economic pie has been going towards business”, says Grey.
“The GDP results should be read alongside the recent employment, wage, and inflation data”, says Grey.
Unemployment has risen to 5.6 percent, and underutilisation to 13.8 percent. Long-term unemployment is up 150 percent since 2023, with around 67,000 Kiwis unemployed for 6 months of longer in the June quarter. Māori and Pasifika communities are experiencing unemployment rates of over 10 percent.
The weak job market is leading to lower wage growth. Annual wage growth for the June quarter was 2 percent on the labour cost index measure and 2.8 percent on the average hourly wages measure. But inflation was 4.1 percent for the same period, meaning wages have been going backwards.
“The job market is in free-fall and working Kiwis are paying the price”, says Grey.
“We’ve had three years of barely any growth, falling real incomes for many households, and rising unemployment and economic insecurity. The Luxon Government has manifestly failed to get New Zealand ‘back on track’,” says Grey.
“Christopher Luxon’s economic plan hasn’t worked. It hasn’t delivered economic growth. It hasn’t delivered a strong job market. It hasn’t delivered improved productivity or real wages. We need a different plan”, says Grey.
Original source: https://nz.mil-osi.com/2026/09/17/june-gdp-figures-show-there-is-a-long-way-to-go-before-working-people-benefit-from-growth-again/
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