PM Edition: Top 10 Business Articles on LiveNews.co.nz for March 31, 2026 – Full Text

Source: Media Outreach

TAIPEI, TAIWAN – Media OutReach Newswire – 30 March 2026 – More than half of Taiwan’s small businesses recorded growth in 2025, while confidence heading into 2026 climbed to its highest level since 2020, according to the Asia-Pacific Small Business Survey 2025–26 conducted by global professional accounting body CPA Australia.

The survey found that 53 per cent of Taiwanese small businesses grew in 2025, slightly below the 57 per cent recorded in the previous survey. Looking ahead, business sentiment strengthened notably. In 2026, 63 per cent of respondents expect their business to grow, while confidence in the local economy also improved, with 61 per cent anticipating economic growth, the highest level recorded since Taiwan was first included in the survey in 2018.

Taiwan’s small and medium‑sized enterprises (SMEs) continue to play a vital role in creating new jobs. In 2025, 31 per cent of SMEs increasing staff numbers, while 44 per cent plan to hire additional employees in 2026.

With rising costs identified as the biggest challenge facing Taiwan’s SME in 2025, many businesses identified cost control as the most positive contributor to business performance last year.

Mr Elic Lam FCPA (Aust.), Honorary Taiwan Advisor at CPA Australia, said Taiwan’s economic fundamentals continue to support small business resilience, “Rising global demand for semiconductors and AI related chips continues to create opportunities for exporters and suppliers across Taiwan’s value chain,” Mr Lam said. “While geopolitical tensions and intensifying competition are adding uncertainty, government support measures for SMEs, including targeted subsidies and tax incentives, together with Taiwan’s resilient domestic demand, are helping to lift business confidence.”

Technology adoption, particularly artificial intelligence (AI), is becoming increasingly widespread among Taiwanese small businesses. The survey found that 33 per cent of small businesses identified AI as the technology they invested in most heavily invested in 2025, up from 29 per cent in the previous year.

Cyber risk among Taiwanese small businesses fell markedly. The share of small businesses reporting losses of time or money due to cyber incidents declined sharply from 59 per cent in 2024 to 27 per cent in 2025, reflecting stronger awareness and the uptake of basic protective measures across the sector.

However, the survey also indicates there is room to strengthen the returns from digital investment. Only 40 per cent of respondents reported that their technology investment in 2025 improved profitability, compared with the survey average of 56 per cent.

Mr Lam noted that Taiwan’s SME sector is undergoing a generational transition that is influencing technology adoption patterns, “Many SMEs in Taiwan are moving from first generation ownership to second or third generation leadership, and technology adoption remains cautious and practical,” he said. “The increase in AI investment reflects both external drivers, such as changing customer expectations and government policy support for digital transformation, as well as internal factors, including younger owners’ familiarity with AI tools and rising operating and staffing costs.”

“To improve profitability, SMEs should focus on applying digital solutions in areas with the greatest impact. For example, as rising costs were identified as the most negative factor affecting performance in 2025, investing in ready-to-use and AI enabled accounting or financial management tools can help reduce operating expenses and lift productivity.”

Access to finance is another notable finding. Financing conditions in Taiwan improved significantly in 2025, even as borrowing softened. Two-thirds of businesses (66 per cent) I said it was easy to access external finance, placing Taiwan among the top three surveyed markets and representing a sharp increase from 28 per cent in 2024. Looking ahead, financing conditions are expected to remain supportive, with 63 per cent anticipating easy access to finance in 2026.

Despite the marked improvement in financing conditions, demand for finance was more subdued. In 2025, 54 per cent of SMEs sought external finance, down from 72 per cent in 2024.

“The Taiwan government has expanded inclusive and guaranteed financing mechanisms to support SMEs, including higher guarantee ratios under the SME Credit Guarantee Fund and preferential loans offered through state affiliated banks,” Mr Lam said. “These measures have made bank financing more accessible for small businesses.”

“Even so, many SMEs remain cautious about taking on new debt. In a stable domestic environment, businesses can maintain steady growth, but external uncertainties drive them to take a prudent approach to borrowing. This aligns well with the government’s policy focus on gradual and resilient SME transformation rather than rapid, high risk expansion.”

Lam concluded, “To navigate international uncertainty and intensifying market competition, Taiwan’s small businesses should make better use of government policy support to upskill their workforce through AI adoption, foster innovation, and diversify export markets by strengthening online sales channels.”

The Asia Pacific Small Business Survey 2025–26 gathered views from 4,166 small businesses across 11 markets in the region, including Singapore, Chinese Mainland and Australia. The Taiwan survey sample comprised 311 small businesses.

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Source: Radio New Zealand

Black market cigarettes are being brazenly sold at heavily discounted prices in Auckland, undermining one of the biggest barriers to smoking – the cost.

The illicit packets of cigarettes and bags of loose tobacco have none of the scary health warnings and carry no information about quitting.

They are typically sold at prices that fail to include the hefty excise tax on tobacco, which Customs says amounts to $30.13 on a packet of 20 cigarettes.

Customs says organised crime is involved, and dairy owners warn it’s only getting worse.

Customs excise duties are taxes added to tobacco and other potentially harmful products.

However, the price of tobacco products being sold on the black market is typically less than half the excise duty that must be paid.

Importing cigarettes without paying the excise duty is illegal, and offenders can be charged with defrauding customs revenue.

It’s also illegal for retailers to sell illicit cigarettes, with offenders facing a six-month prison sentence, a $20,000 fine or both.

Given the stiff penalties business owners face for selling such products, it’s somewhat surprising to find them being sold over a shop counter in suburban Auckland.

Nestled between a hardware shop and a massage parlour, the store in an East Auckland shopping centre looks like any other.

Inside a glass-topped front counter are packets of cigarettes for sale.

The prices of the cigarettes are written on the packets in black marker, ranging from $13 to $15 – less than a third of the usual price.

The East Auckland store is one of a number of outlets in the country’s largest city that RNZ believes is offering illicit tobacco products for sale.

Not only do the products avoid excise tax the government could use in the health system to treat conditions related to smoking, but they also hurt the profit margins of small business owners offering legitimate tobacco products.

Tara Singh Bains, owner of several retail stores in the Auckland suburb of Manurewa, said it was hard for small business owners not to be tempted by the price differences.

“Every pack of 20 cigarettes we sell is priced between $36 to $40, with margins of just $3 or $4,” Bains said.

“Whereas a pack of illegal cigarettes – mainly smuggled from China, including the most popular brand Double Happiness – is sold at $13 to $15. Here the margins can be anything between $8 and $10 per pack,” he said.

“This solid profit, along with the involvement of organised crime groups, is the main reason contraband cigarettes are being brazenly sold across Auckland,” he said.

“People like us who … are doing the right thing are approached regularly by people distributing illicit cigarettes and encouraged to join multiple outlets engaged in this illegal activity.”

Daljeet Singh Sidhu, a retailer based in Papakura, claimed the black market for tobacco products in Auckland was an open secret.

“The surprising thing is everyone in the business community knows who is engaged in selling illegal cigarettes, [but] no action is taken against them,” Sidhu said.

“This lukewarm attitude of authorities is ensuring compliant retailers are weakened, while rogue retailers expand and organised crime gains a stable cash engine.”

Sidhu claimed legitimate businesses had experienced a drop in revenue of more than 75 percent for tobacco sales over the past six months or so.

Himanshu Parmar, vice chairperson of Dairy & Business Owners Group that represents more than 5000 entities nationwide, said members had increasingly complained of how readily available black-market cigarettes had become.

“A number of dairy owners in particular have reported significant hardship because they have chosen not to participate in what has become a very prevalent illegal tobacco sales network,” Parmar said.

“Importantly, this also affects other impulse purchases that typically accompany tobacco sales, such as confectionery, drinks and other small retail items,” he said, noting that the combined sales were a critical part of a store’s daily revenue.

“Successive governments have placed significant emphasis on plain packaging and health warnings to highlight the risks associated with smoking,” he said.

“Illegal cigarettes typically bypass these regulations and do not carry the required warnings about the dangers of tobacco use.

Parmar said adulterated tobacco products were particularly worrying.

“Because these products are part of an illegal supply chain, there are serious concerns about the quality and contents of the tobacco itself,” he said.

“Consumers simply do not know what additional chemicals or harmful substances may be present.”

In 2011, Canada’s national police force warned that adulterated cigarettes could contain significantly more cadmium, lead, tar and carbon monoxide than standard cigarettes.

The issue doesn’t appear to be confined to Auckland.

Jay Patel, owner of a dairy in Hamilton, said his cigarette sales had plummeted in recent months.

“Everyone is selling – why are you not selling?” Patel said, repeating a question he often gets from his customers.

“As a result, my cigarette sales have dropped by almost 80 percent in the past three or four months.”

Patel called for harsher penalties to be introduced, with undercover operations increased to catch those selling illicit cigarettes red-handed.

“The fine for selling illegal cigarettes should be something to the tune of $10,000 or more,” he said.

“The current fines, which these retailers engaging in illicit tobacco trade earn in a day, is nothing more than a slap on the wrist.”

Several retailers in Auckland – who all spoke on condition of anonymity – said they had made multiple complaints about illicit tobacco products to authorities, as well as to their local boards and Takanini MP Rima Nakhle.

RNZ has approached police, Health New Zealand and Ministry of Health for comment on the issue, but they all deferred questions to Customs.

Customs acknowledged that tobacco smuggling had become more organised, large scale and sophisticated.

This came amid warnings New Zealand’s illegal tobacco market would become as bad as Australia’s.

Robert Beaglehole, chair of anti-smoking group ASH, said while it was in smokers’ interests to buy cheaper smokes, it carried risk.

“The danger of that, of course, is that the illegal trade grows and, as we’ve seen in Australia, gets totally out of control,” Beaglehole said.

Beaglehole said an illegal tobacco market could lead to a decline in tax revenue used to fund the very health system that smokers might one day be forced to rely on.

Nigel Barnes, chief customs officer for fraud and prohibition, said seizures figures had been trending upwards for the past decade.

In 2025, Customs seized 11.1 million illicit cigarettes and cigars.

Just 9.2 million illicit cigarettes and cigars were seized in 2024, 8.48 million in 2023 and 4.8 million in 2022.

Seizures of illicit cigarettes and cigars in 2017 amounted to just over 3 million.

Barnes said the illegal tobacco industry was part of the organised crime ecosystem.

“These aren’t opportunists, they’re organised criminal groups by definition,” Barnes said. “It will typically involve multiple people, and there is a lot of money involved.”

Barnes highlighted the price differential between legitimate and illicit tobacco products.

“If they had paid the excise, they’d be selling you that at a massive loss, which is highly unlikely, so that’s a strong indicator that [it’s] illicit tobacco.”

Nakhle said she was concerned by the reports of an increase in illicit cigarette sales in South Auckland.

“This is both a crime issue and a health issue, and it is something that communities in Takanini and across South Auckland are right to be concerned about,” she said.

“People selling cheap, illegal cigarettes are not doing our communities any favours. These actions make smoking more accessible, particularly in lower-income areas, and that cuts across the work that has been done by our government to help people quit.”

Nakhle pledged to continue raising the issue with police and her parliamentary colleagues.

Manurewa Local Board member Marshal Ahluwalia said numerous dairy and small business owners in his area had raised concerns about how the illicit tobacco products were harming their businesses and creating unfair competition for those who followed the law.

“Illegal cigarettes are cheaper, which encourage people to smoke more,” Ahluwalia said.

“Authorities need to take stronger enforcement action,” he said. “At the same time, agencies … should actively confiscate these products and ensure they are removed from the market.”

Meanwhile, retailers pointed to the emergence of “pop-up dairies” that act as fronts for illicit tobacco sales in their complaints to authorities.

Parmar claimed such shops typically displayed basic grocery items worth a total of $1000, with the real focus being the sale of illicit tobacco products to locals.

“I am aware of a small town in South Waikato that now has one of these so-called pop-up dairies,” Parmar said.

“Local retailers have raised concerns with police, but no action has been taken. They were instead advised to contact the health department, which unfortunately has led nowhere so far.”

Customs warned retailers to refrain from selling illicit tobacco products.

“Engaging in the illicit tobacco market … potentially exposes [them] to other organised crime risk types, so it’s to be avoided,” Barnes said.

Parmar urged retailers selling illicit cigarettes to think about the harm they were causing.

“Our advice to anyone involved in selling illegal tobacco is simple: stop immediately,” he said. “It is not worth risking prosecution that could ultimately prevent you from operating a business at all.”

Ahluwalia called on business owners to think about the impact on the wider community.

“No profit is more important than the health and wellbeing of our communities,” he said. “So please just stop.”

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Self-employment is not proving a path to higher incomes for many New Zealanders, new data from Inland Revenue shows.

Many self-employed people were earning less than the median wage, and more than half of those for whom it was their main income stream were not even earning the minimum.

The data supplied to RNZ shows the median income among people who report wages or salaried income in the 2024 tax year was $62,115.

Self-employed people whose self-employed income was more than 50 percent of their taxable income had a median income of less than $45,000.

People reporting business income, and self-employment as a lesser part of their income, had median incomes in line with wage and salary earners.

More business income-earners were at the top end of the income scale.

Inland Revenue said 70 percent of people who reported self-employment income as more than 50 percent of their taxable income were earning less than the median income of all workers, compared to 58 percent of those earning wages and salaries and 55 percent of those with business income making up the majority of their earnings.

In addition, 53 percent of those who were primarily self-employed were earning less than the median wage.

Infometrics chief forecaster Gareth Kiernan said it could reflect the progression of a new business.

“When a person starts out, some will form companies, but many will just work for themselves – and then as their workload increases, they start to take on other people and/or progress to a different trading model, meaning that they shift into the business income categories instead.”

At the University of Otago, economist Dr Murat Ungor said there was a clear skew in the data.

“The lower-income pattern emerges specifically when you narrow the focus to the unincorporated self-employed.

“Their overall median is $50,446, and among those for whom self-employment makes up more than half of total income, it falls further to $44,721; below even the all-individuals median of $45,232.

“By contrast, those who combine self-employment with wages report a much healthier $54,875. The skew, in other words, is concentrated among people whose primary source of income is self-employed income/sole-trader activity.

“Roughly seven in ten people who depend mainly on self-employment report taxable incomes below the national median wage, compared with fewer than six in ten wage earners. One might interpret this as a meaningful gap.”

He said there could be an element of how income was reported affecting the data.

“A salaried employee earning $70,000 typically reports close to that full amount as taxable income, whereas a sole trader invoicing $100,000 or more may deduct vehicle expenses, home office costs, depreciation, subcontractor payments, and prior losses before arriving at a taxable figure, which might land in the $40,000 to $60,000 range despite strong underlying turnover.

“The remainder of the gap reflects genuine earnings volatility. Seasonal work, contract gaps, business start-up losses, and part-year trading all make annual taxable income look weaker for sole traders than for wage earners with stable PAYE salaries.”

He said tough economic conditions recently probably amplified patterns that were already present.

“The lower-income skew among primarily self-employed individuals seems to be a persistent structural feature of how sole-trader income is measured and reported. That said, difficult economic conditions would make it more pronounced, increasing the share of people in the early-loss or low-revenue phase at any given time.”

He said some of the people reporting income of less than $20,000 a year, for example, could be early in their business life.

“Interest rates were high throughout this period as the Reserve Bank sought to reduce inflation by constraining demand, and economic growth was low or even negative in each quarter.

“Someone launching a business in that environment would plausibly show low or nil taxable income in their first filing, not because the business model is flawed, but simply because the conditions were tough and start-up costs absorbed early revenue.

“In general, in many countries, when employment markets tighten, some people move into self-employment not entirely by choice. This kind of reluctant or necessity-driven self-employment tends to produce lower and more volatile incomes than planned entrepreneurship. It seems reasonable that this pattern could also apply to New Zealand during a difficult economic cycle.”

Simplicity chief economist Shamubeel Eaqub said there could be a lot of variation in people’s experience of self-employment.

“There some industries like arts, recreation, where you have to be a self-employed person to be able to do your job, right? If you think about, you know, if you’re a personal trainer, for example.

“And the issue with that data is that we just don’t have any idea what it is that they do, whether it requires a lot of capital outlay, if it doesn’t, how long they work, that kind of stuff.”

He said any costs that were being claimed to reduce income would be business costs reducing what people earned.

“It’s interesting that those people who tend to own businesses tend to have incomes that are a bit more top-heavy versus those who tend to be self-employed and wage earners are somewhere in the middle.”

Hnry chief executive James Fuller said income was not always the primary reason for pursuing self-employment, and when combined with those who earned business income, self-employed people were on average earning more than those working for other people.

“While the varied nature of self-employment, encompassing a wide range of sectors and job types including, but not limited to, midwives, personal trainers, doctors, tradies, travel and tourism, gig workers, contractors, and side hustlers, makes it challenging to definitively provide the average earnings of a self-employed person; the data from Stats NZ relating to the income of those who are self-employed and do not have employees is the most representative and reliable measure of earnings across various sectors.

“Findings in the independent Sole Trader Pulse show that many sole traders consider factors beyond earnings in their decision to be self-employed, the October 2025 STP revealed that 46 percent said they had chosen to be self-employed to avoid being employed by someone else altogether and data from June 2025 showed that 76 percent valued the flexibility to choose the way they worked, as a result of being a sole trader.”

He said a desire for more flexibility, control and work-life balance were often drivers in the decision to pursue self-employment.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

MIL OSI

Source: Radio New Zealand

A kaupapa Māori housing and support provider is warning proposed move-on powers could push vulnerable whānau further away from help, rather than addressing the root causes of homelessness.

It comes after hundreds of people across the motu protested on Sunday, opposing the proposed orders – including an overnight vigil in Wellington cathedral.

Ki Tua o Matariki urged the government to reconsider changes to the Summary Offences Act, which would allow police to move on rough sleepers or people displaying disorderly behaviour.

It would also apply to people who were obstructing or impeding someone entering a business, breaching the peace, begging, or displaying behaviour indicating an attempt to inhabit a public place.

Under the proposal, breaching a move-on order could result in fines of up to $2000 or up to three months’ imprisonment.

The powers could apply nationwide and potentially affect rangatahi as young as 14.

Ki Tua o Matariki Chief executive Zoe Witika-Hawke said the approach risks criminalising hardship.

“Punishing people who cannot afford necessities such as housing, food, or transport does not reduce homelessness, it deepens fear and mistrust,” she said.

Witika-Hawke said from what she sees on the ground, homelessness is not a choice.

“We’re not seeing that people choose homelessness… what we’re seeing is people really wanting their lives to be better.”

She said trust was critical in supporting whānau into stable housing and wellbeing.

“For whānau to engage in support, trust must come first. Pushing people further into the criminal justice system moves them away from the very support that enables long-term wellbeing.”

Ki Tua o Matariki provided housing and wraparound support for mātua taiohi (young parents), hapū māmā and their whānau, including mental health services, education pathways and kaupapa Māori wānanga.

Witika-Hawke said the proposed changes risk sending the wrong message.

“What does that tell our whānau? What does that tell our communities? Are we trying to push people to the corners of society where they become more unwell?”

She said the inclusion of rangatahi raised serious concerns.

“A 14-year-old homeless and moving them on and potentially punishing them with a fine or imprisonment is just unfathomable to us.”

“What we’re seeing is rangatahi who want tautoko (support), but also want to trust the people that are giving the tautoko. And I think once that trust is built, things do change. A 14-year-old on the street does not choose to be homeless.”

The organisation said Māori were disproportionately affected by homelessness, with 2023 census data showing Māori were over-represented in rough sleeping and insecure housing.

Māori women were particularly impacted, with a study by Ihi Research in 2024 finding four out of five homeless women in Aotearoa were Māori.

Hineraukura Martin, a founding member of Māori maternal mental health advisory group Hine Ki Te Wheiao, said the proposal assumed people sleeping rough had somewhere else to go.

“It prioritises public comfort over addressing the structural drivers of homelessness, including inflation, rising living costs, and housing insecurity,” Martin said.

“Treating homelessness as a behavioural issue rather than a systemic one risks ignoring the economic realities many whānau are facing. We believe the focus must shift toward practical, compassionate solutions that respond to the real pressures impacting our communities”

Justice Minister Paul Goldsmith previously said move-on orders were not about criminalising homelessness.

“Only people who refuse those orders will face prosecution. A move-on order is not a criminal charge,” he said.

Goldsmith said the policy was about ensuring public spaces were safe and accessible.

“This is about reclaiming our streets and our city centres for the enjoyment of everybody who visits, works and lives there.”

He said police had “the expertise to connect people with the support services they may require”.

“New Zealanders are fair-minded people, and our culture is one where we seek to help those who are in need, but that doesn’t mean we should accept our city centres, particularly our showcase tourist spots, becoming places of intimidation, and dysfunction,

Police Minister Mark Mitchell previously said officers would use discretion and aim to connect people with support services where needed.

“We’ve got something that will formalise it, that will actually hopefully get them engaging with those services and actually fix those issues, and at the same time we won’t have people living on our streets. I don’t think any fair-minded Kiwi in our country wants to see people out living on our streets.”

But Witika-Hawke argued without investment in housing and support, enforcement alone would not work.

“Targeting the root issue requires investment… more social support, more health support, more opportunities for our whānau to be navigated into homes.”

She said the current climate including rising living costs was already placing pressure on communities.

“People are feeling hopeless. People are feeling like they can’t see an end to the struggle,” she said.

“If you create an environment where you make the struggle harder… then that hope in people’s mental health is going to suffer.”

“I think care, over a punitive approach, is actually what’s going to make the best difference in this moment.”

Ki Tua o Matariki was calling for a shift toward prevention and kaupapa Māori-led solutions.

“Maybe it’s a time to pause and think about developing policies that benefit those that are struggling in the current climate and design things for them rather than the other way around,” Witika-Hawke said.

“Our communities deserve public policy grounded in manaakitanga, not punishment.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

There has been an increase in total petrol and diesel stocks, while jet fuel levels remain normal, according to the latest fuel stocks update.

Data released on Monday afternoon by the Ministry of Business, Innovation, and Employment showed that as of 11:59pm on Wednesday evening, there were 59.3 days’ cover of petrol, 54.5 days’ cover of diesel, and 50.4 days’ cover of jet fuel.

The data combines the stocks that are in-country, on the water within New Zealand’s exclusive economic zone (meaning ships with fuel unloading, ships at berth yet to unload, and ships moving between ports), or on the water outside the EEZ (up to three weeks away).

There were 29.9 days’ of petrol, 21.7 days’ diesel, and 25.3 days’ jet fuel in-country.

There were five ships on the water within New Zealand’s EEZ, containing 12.5 days’ petrol, 6.1 days’ diesel, and 2.0 days’ jet fuel.

A further 10 trips were on the water outside the EEZ, carrying 18.9 days’ petrol, 26.7 days’ diesel, and 23.1 days’ jet fuel.

Earlier on Monday, Prime Minister Christopher Luxon told Morning Report it was “business as usual” for now, and as long as phases one and two of the national fuel plan were effective, people would not have to worry about phases three and four.

“At this point in time we’ve had no indication that our fuel importers who we talk to daily, multiple times a day, have had any cancellation of their forward orders,” Luxon said.

On Friday, the government set out its fuel plan, including the criteria it would consider to make an assessment on whether there needed to be a change in phases.

The criteria included:

• Export restrictions – if any of New Zealand’s source refineries introduce or relax export restrictions
• Changes to New Zealand’s fuel stock levels of plus or minus three days since the most recent published update
• A fuel company informs the government that they are unlikely or unable to fill future orders
• A breach, or a notification of an imminent breach, of the minimum storage obligations
• Any significant policy changes in Australia or from the International Energy Agency
• A significant disruption to regional distribution

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

New Zealand’s tourism industry is feeling the impacts of the Middle East conflict, with businesses experiencing “a sharp increase in business costs“, an industry leader says.

The industry was said to be getting its mojo back in the past 18 months, however the global fuel crisis is making the comeback difficult – from the increases in cost of living, to the cost of travel itself.

Tourism Industry Aotearoa’s chief executive Rebecca Ingram told Midday Report the situation was not ideal, but the industry was used to disruption.

“Whether its earthquakes volcanos that change flight paths, and in this case we’ve got conflict, and it’s times like this we really rally together, we hustle internationally to make sure we stay connected…”

“Many businesses are experiences the sharp increase in business costs as a result of the leap in fuel prices.

“The most obvious price most people think about is jet fuel, but then there’s the jet boats, the lawn mowers that are need to mow all the beautiful lawns and holiday parks and botanic gardens, transport providers, so those costs are feeling pretty squeezy for many.”

Ingram said in a recent survey Tourism Industry Aotearoa, 70 percent of businesses reported experiencing little to no impact.

“What we can see at the initial survey results is that many New Zealanders will have booked and paid for their holidays, but there are some signal some businesses are experiencing cancellations – so 70 percent are saying there is no impact or a small decrease.”

Ingram said it was a “bit of a blessing” that the disruption was happening at the end of the summer season.

But she said one in nine Kiwis had a job in tourism, and the industry would be keeping a “very close eye on the situation in Iran and the disruption that might be possible for the next few months”.

“We will be wanting to work with the government and tourism New Zealand in particular to look at how we can ensure a successful summer 26/27.”

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Source: Radio New Zealand

New Zealand had 1505 more filled jobs in February than same time a year earlier, Stats NZ data shows, but economists say that might be as good as it gets for a while.

There were 2.35 million filled jobs last month.

Public administration and safety was up 3.2 percent year-on-year, while healthcare and social assistance was up 1.7 percent. Education and training jobs were up 1.2 percent.

But construction was down 2.1 percent and manufacturing down 1.6 percent.

Between construction and manufacturing, they lost almost 8000 jobs over the year.

Canterbury had the largest growth year-on-year, up 1.5 percent. Auckland was down 0.4 percent and Wellington down 0.9 percent. Otago was up 1.4 percent and Waikato up 0.9 percent.

Westpac chief economist Kelly Eckhopld said the update was the highest monthly filled jobs figure since November.

It was probably as high as it would go for now, he said.

“We currently forecast very modest positive growth in employment from here until Q3 when we expect decent levels of growth to resume as the Iran War is expected to have died down by then. Hence we are likely very close to peak filled jobs for now but much depends on how the Iran war and the response from business evolves.”

BNZ chief economist Mike Jones agreed the outlook was uncertain.

“Hiring plans may well be impacted. Firms’ intentions to hire for the coming 12 months had climbed to levels well above average, but these plans look set to be tested now that growth expectations are coming under pressure, costs rising aggressively and uncertainty about the outlook in the ascendancy.

“The key question is whether this shock causes firms to rein in hiring plans, or whether it’s of a magnitude that forces them to reduce staffing numbers. I think, at this stage, it’s more likely aggregate employment slows down rather than stalls or contracts. But, as with many aspects of the outlook, much depends on how long this shock goes on for.

“Prospects for a recovery in the labour market this year do appear to have dimmed, with any decline in the unemployment rate looking more like a story for next year.”

Infometrics said any signs the economy was starting to recover would most likely be put on hold.

“The immediate effects are being felt by consumers and businesses at the pump. The secondary effects on business overheads, and the extent to which they will be pushed through to consumer prices, will take longer to materialise. Under these conditions, any confidence employers were starting to feel to take on additional staff will most likely have been undermined.”

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Source: Radio New Zealand

Fuel industry leaders are welcoming the government’s moves to increase fuel capacity, but say while it will help with long-term concerns price spikes are a bigger worry.

With the fuel crisis in its fifth week, the government is moving to shore up storage as an insurance policy in case of supply line failures by announcing plans to access more supply as well as getting more storage tanks into service.

“While fuel importers do continue to indicate confidence in near-future orders and while they are already exploring alternatives to Asia as a source of fuel supply, we believe that some residual risk remains,” Finance Minister Nicola Willis said.

She said Cabinet had agreed to explore additional options to guard against the risk of disrupted fuel supply, and was now “actively seeking proposals for New Zealand refined fuel imports on arrangements that would support additional purchase of stocks through to June”.

The government was assessing a series of unsolicited proposals from businesses to help increase supply, including to trade New Zealand’s access to fuel types the country was unable to use – like crude oil, which would need to be refined – for types it could.

On the fuel storage front, Associate Energy Minister Shane Jones confirmed officials were exploring two proposals, including to get some of the unused storage capacity at Marsden Point operating again after the former refinery was downsized to an import-only terminal.

Waitomo fuel chief executive Simon Parham told RNZ more storage would help in the long-term, but would not bring prices down.

“Through the April, May and even into the June window, stock seems to be on the water, there’s been no cargoes cancelled and no ships turned around, so supply looks like it’s steady but it seems to me they want that little extra insurance.

“Looking at extra storage options in New Zealand is also the right thing to do but we’ve just all got to be realistic that that will come at a cost and someone’s got to pay for it.

“Extra storage here, it won’t help with the cost, it just gives us that little bit more resilience in the long term should these supply shocks happen again.”

Automobile Association fuel spokesperson Terry Collins said more capacity would take time and money to build, and ensuring consistent supply needed to be the priority, with the main risks closely linked to what happens in Iran.

“Channel infrastructure, which was a part of the old refinery, has got additional storage, they’ve offered it to the government, but there’s a lag between getting it ready and the immediacy of what’s happening internationally.

“What we could see, possibly, is in a very short period of time spikes and pressure on fuel [prices] coming in here that we do not have time to address by building or refurbishing storage.

“Really it’s about can we get enough to keep what we’ve got going, now.”

He said the threat of further escalation was making markets nervous.

Hoarding leading to shortages

The government again repeated its warning that “minor hoarding” was leading to shortages at service stations in some regions, including Ōpōtiki, Southland and Nelson.

AA’s Terry Collins said fear of losing out was part of the problem.

“Because of their fear, they think about ‘oh, I’m in an area this could happen’ and by their actions it makes it a self-perpetuating action.”

Waitomo’s Simon Parham said suppliers were doing their best.

“We’re always managing our forecasts, one month, two months, even six months out … that’s what we do day in, day out to make sure products get to service stations,” he said.

“We have seen that increase in demand, admittedly it’s starting to taper off a bit now because that demand has been pulled forward and we’re starting to see a lag – and also prices doing what price does when it gets too high, it causes demand destruction.

“There’s plenty of product there, but it’s not always in the places where you need it.”

He said the most useful regulations for the government to cut would be around heavy-vehicle permits.

“You have to apply on an individual truck and an individual route basis, and what that means is it’s admin-heavy, it takes two to three weeks to get this all approved, and so it really reduces your flexibility in the system.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Fuel industry leaders are welcoming the government’s moves to increase fuel capacity, but say while it will help with long-term concerns price spikes are a bigger worry.

With the fuel crisis in its fifth week, the government is moving to shore up storage as an insurance policy in case of supply line failures by announcing plans to access more supply as well as getting more storage tanks into service.

“While fuel importers do continue to indicate confidence in near-future orders and while they are already exploring alternatives to Asia as a source of fuel supply, we believe that some residual risk remains,” Finance Minister Nicola Willis said.

She said Cabinet had agreed to explore additional options to guard against the risk of disrupted fuel supply, and was now “actively seeking proposals for New Zealand refined fuel imports on arrangements that would support additional purchase of stocks through to June”.

The government was assessing a series of unsolicited proposals from businesses to help increase supply, including to trade New Zealand’s access to fuel types the country was unable to use – like crude oil, which would need to be refined – for types it could.

On the fuel storage front, Associate Energy Minister Shane Jones confirmed officials were exploring two proposals, including to get some of the unused storage capacity at Marsden Point operating again after the former refinery was downsized to an import-only terminal.

Waitomo fuel chief executive Simon Parham told RNZ more storage would help in the long-term, but would not bring prices down.

“Through the April, May and even into the June window, stock seems to be on the water, there’s been no cargoes cancelled and no ships turned around, so supply looks like it’s steady but it seems to me they want that little extra insurance.

“Looking at extra storage options in New Zealand is also the right thing to do but we’ve just all got to be realistic that that will come at a cost and someone’s got to pay for it.

“Extra storage here, it won’t help with the cost, it just gives us that little bit more resilience in the long term should these supply shocks happen again.”

Automobile Association fuel spokesperson Terry Collins said more capacity would take time and money to build, and ensuring consistent supply needed to be the priority, with the main risks closely linked to what happens in Iran.

“Channel infrastructure, which was a part of the old refinery, has got additional storage, they’ve offered it to the government, but there’s a lag between getting it ready and the immediacy of what’s happening internationally.

“What we could see, possibly, is in a very short period of time spikes and pressure on fuel [prices] coming in here that we do not have time to address by building or refurbishing storage.

“Really it’s about can we get enough to keep what we’ve got going, now.”

He said the threat of further escalation was making markets nervous.

Hoarding leading to shortages

The government again repeated its warning that “minor hoarding” was leading to shortages at service stations in some regions, including Ōpōtiki, Southland and Nelson.

AA’s Terry Collins said fear of losing out was part of the problem.

“Because of their fear, they think about ‘oh, I’m in an area this could happen’ and by their actions it makes it a self-perpetuating action.”

Waitomo’s Simon Parham said suppliers were doing their best.

“We’re always managing our forecasts, one month, two months, even six months out … that’s what we do day in, day out to make sure products get to service stations,” he said.

“We have seen that increase in demand, admittedly it’s starting to taper off a bit now because that demand has been pulled forward and we’re starting to see a lag – and also prices doing what price does when it gets too high, it causes demand destruction.

“There’s plenty of product there, but it’s not always in the places where you need it.”

He said the most useful regulations for the government to cut would be around heavy-vehicle permits.

“You have to apply on an individual truck and an individual route basis, and what that means is it’s admin-heavy, it takes two to three weeks to get this all approved, and so it really reduces your flexibility in the system.”

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand