PM Edition: Top 10 Business Articles on LiveNews.co.nz for April 2, 2026 – Full Text

Source: New Zealand Government

Open Banking will be extended to business banking channels, opening the door to a broad range of tools and services for businesses, Commerce and Consumer Affairs Minister Scott Simpson and Small Business and Manufacturing Minister Chris Penk say. 

It means businesses can share their banking data with trusted providers, unlocking faster loan comparisons, automated accounting, and smarter cashflow tools to boost competition and productivity.  

 “This is about making life easier for businesses. It means fintechs can develop new tools for businesses which can mean less time on paperwork and admin, and more time focusing on customers and growth,” Mr Simpson says. 

“Simple things like automated accounting tools and streamlined payment systems can save businesses hours every day.” 

In the United Kingdom, businesses using Open Banking tools saved around 150 hours a year on basic tasks.  

“That’s nearly a month of time gained, and that’s time that can be spent growing the business, supporting staff, or serving customers.” 

“Since regulated open banking launched in December 2025, major banks have rolled out services to customer banking channels, with fintechs already delivering innovative new tools to New Zealanders.”

Cabinet has confirmed that banks will not be required to enable regulated Open Banking for large corporates and institutions. International examples show limited demand, and use case for Open Banking among larger entities. 

Minister Penk says Open Banking is particularly valuable for small businesses because it tackles several of their biggest constraints at once. 

“Small businesses can struggle to secure loans because they lack long credit histories or substantial collateral, but Open Banking products allow lenders a clearer picture of how a business is actually performing.

“Cash flow is also one of the biggest pain points, which fintechs can use Open Banking to address by bringing accounts from different banks into one place, helping owners track money in and out in real time so they can avoid shortfalls and make better spending decisions.

“For smaller operators with fewer staff, manual reconciliation, invoicing, and financial tracking take up valuable time. Services harnessing Open Banking can automate these tasks, reduce paperwork and errors, and free up capacity to focus on running the business,” Mr Penk says.

“Open Banking will boost competition, improve productivity, and give businesses better choices. This next step means more businesses will start to see those benefits in their day-to-day operations.” 

“Easy access to Open Banking tools and their wide range of benefits is all about boosting productivity and reducing the burden on small businesses. It’s a key priority for this Government,” Mr Simpson says. 

MIL OSI

Source: Radio New Zealand

It’s that time of year again – but before you unwrap the chocolate bunnies, be sure you’re aware of what Easter weekend holiday closures and shop hours will be.

What will be open?

Good Friday is a public holiday, and so is Easter Monday.

However, the trading restrictions that mean many stories will close are only in effect on Good Friday and Easter Sunday.

The government requires retail stores to close for three-and-a-half days a year – Good Friday, Easter Sunday, Christmas Day and Anzac Day morning until 1pm.

Dairies, service stations and cafes are allowed to open under certain conditions.

However, to complicate things, local councils can also make some exceptions.

There are three types of exemption to the shop shutdowns:

• tourist resorts such as Taupō and Queenstown on Easter Sunday only
• places where the local council has said shops can open on Easter Sunday only
• certain kinds of shops (limited to “small grocery shops”, service stations, takeaways, bars, cafes, duty-free stores, “shops providing services” (and not selling things), real estate agencies, pharmacies, garden centres (only on Easter Sunday), public transport terminals, souvenir shops and exhibitions “devoted entirely or primarily to agriculture, art, industry and science”).

Everyone else has to keep the doors shut on Good Friday and Easter Sunday, including department stores and supermarkets.

Which means that if you’re going shopping on Thursday, you might face a horde of shoppers desperately stocking up for the prospect of a day or two without the shops open. Be prepared.

So the shops are open on Easter Monday?

Yes – although they can choose to close if they want, so check first. Supermarkets and such should generally be open though, if you need to stock up on your chocolate.

Wait, so why isn’t Easter Saturday a holiday? How come Monday is the public holiday and not Easter Sunday?

We don’t make the rules.

Will there be surcharges?

Shop owners typically cite increased wage costs for employees who work on public holidays.

Some places may add a surcharge over Easter weekend, but there are strict guidelines from the Commerce Commission about how much and when.

They’ve got to clearly disclose the surcharge in advance, not hidden behind the counter or on a note put back in the employee toilets.

Businesses can’t mislead about why they’re doing a surcharge – the Commerce Commission notes that “For example, a business must not claim it is applying a surcharge on Easter Sunday because it is a public holiday. This would be inaccurate because the only public holidays over the Easter weekend are Good Friday and Easter Monday.”

If a surcharge feels misleading, you can report it to the Commerce Commission.

What if you have to work?

You usually can only be required to work public holidays if it is stated in your employment agreement and the public holiday is on a day you will normally work.

If you’re working on a public hoilday, you generally must be paid time and a half and given a day in lieu.

Okay, so can I get a drink?

There have been restrictions about buying alcohol over Easter, but that is likely to change a little this year.

A member’s bill from Labour MP Kieran McAnulty that passed its third reading Wednesday would amend the Sale and Supply of Alcohol Act to allow premises that are already open on Good Friday, Easter Sunday, Anzac Day morning and Christmas Day to sell alcohol under normal licence conditions.

It is possible it may receive royal assent on Thursday, in time for Good Friday. However, the bill would not change rules around bottle shops or supermarket alcohol sales.

What else should I know?

While you’re at it, don’t forget that Daylight Saving time ends on Sunday, too. It’s all go this four-day weekend.

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

Source: Media Outreach

HONG KONG SAR – Media OutReach Newswire – 1 April 2026 – Hong Kong Science and Technology Parks Corporation (HKSTP) celebrated the launch of ‘Global Connect – Global Innovation Exchange (GIE),’ a platform that creates a pull for innovation and technology (I&T) ecosystems from the World to Hong Kong, to pour collective efforts into maximising exposure and impact of emerging startups and solutions.

The GIE was designed to bridge for China-HK-International with I&T developments, where year-long international engagement activities are in the works, including a curated series of country-and market-focused networking events, with UK, France, and Germany lined up from April to June, as well as success story sharing sessions, opportunity overviews, and potential partnership projects examinations, building as a two-way gateway enabling overseas innovators leverage the city as a springboard into the vast opportunities in the Greater Bay Area (GBA) opportunities, while supporting companies moving from the Chinese Mainland to Hong Kong and onward to international markets.

Representatives of 17 countries were in presence, apart from local bodies, in supporting the cause that tech ventures are to be introduced to markets overseas, and vice versa. Maurits ter Kuile, Consul General of the Netherlands in Hong Kong and Macao, stated: “Hong Kong is an interesting spot for Dutch companies that are looking to explore the Chinese market. Language, regulations, taxes and an international orientation, are part of the attraction. As a Dutch government body that is looking to support them, we would say that the GIE looks like an appealing concept to give them a leg up.”

Panel discussions on Hong Kong’s unique position on the world stage as a multicultural anchor for the flow of capital in and out of Asia, echoed the notion. Johannes Hack, Chairman of European Chamber of Commerce, said “One of the challenges when setting up a partnership is understanding the other side’s value drivers. Only when you truly match what each side expects can the joint business flourish. Hong Kong is an excellent place to establish common ground and HKSTP is a great partner to support finding a shared vision.”

Terry Wong, CEO of HKSTP, said “We introduced ‘Global Connect – Global Innovation Exchange’ with heart full of confidence that it will bring convergence of all efforts under one platform, so that international networks, delegations, and I&T communities are able to connect better with more seamless access to even broader resources.”

The Network represented not an event, but an enunciation of commitment to contribute in driving an influx of cross-border business matching and investment opportunities, further strengthening the city’s appeal as an international I&T hub, and continuing the momentum of technological advancement in the GBA and beyond.

Hashtag: #HKSTP

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.

Source: Media Outreach

Ingdan Posts Landmark Full-Year Results with 50.1% Revenue Growth, Backed by Robust AI Chip Demand and Expanding Proprietary Product Portfolio

– Published and distributed with permission of Media-Outreach.com.

Source: Radio New Zealand

Business confidence is under pressure, with nearly two-thirds of small- and medium-sized businesses experiencing a drop in revenue over the past year – with income down a quarter for a further 17 percent.

Insurer Vero’s annual SME Insurance Index indicates more than one in five (21 percent) businesses were not confident in their own business, with just 36 percent feeling confident.

Vero executive general manager Sacha Cowlrick said businesses were under pressure to cut costs, but warned against dropping insurance.

“Having adequate [insurance] cover could be the difference between folding under pressure and finding a way through.”

External concerns dominate

The survey of 550 SME business owners found most were experiencing pressures outside of their direct control, including increasing costs (88 percent) and the economic downturn (83 percent).

Political upheaval was also a concern for many. Changes to tax policy (69 percent), regulatory changes (61 percent) and political instability (61 percent) were top of the list.

“This is compounded by the current volatile global landscape, adding another layer of unpredictability to an already complex operating environment for SMEs,” Cowlrick said.

“There is no doubt that there are very real macro-pressures concerning SMEs, but it’s critical that business owners focus on the things they can control in order to give them the best chance of weathering the storm.”

Resilience tested

Nearly half (47 percent) of businesses said they never or rarely conducted formal risk analyses, with more than half (53 percent) operating without any structured risk management framework, though six in 10 businesses expected to face at least one major operational risk this year.

The survey found about a quarter (24 percent) believed their business was very resilient.

“Business resilience isn’t just about bouncing back after an event. It’s about understanding your exposures and making informed decisions before something happens,” she said, adding that an insurance broker could help businesses develop a resilience strategy.

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

Source: New Zealand Government

It’s a pleasure to be here at the Sprout Summit, surrounded by people who are quite literally designing the future of agrifood, ag‑tech and deep‑tech innovation in New Zealand.

The theme of this year’s summit “The Catalyst: Connecting Industry, Innovation, and Investment”, is timely. 

It speaks to the kind of system New Zealand needs to build: one where science, ideas, and capital connect seamlessly, and where innovation can move quickly from concept to commercial reality.

New Zealand is at an important economic turning point.

After several difficult years, marked by high inflation, weak productivity and declining business confidence, the economy is slowly turning a corner, notwithstanding external shocks.

Strengthening that recovery, and our ability to rebound after shocks, and lifting New Zealand’s long-term economic performance is a priority for the Government. 

That is why two of this Government’s major agendas – Going for Growth and the Science, Innovation and Technology System Reforms – are deeply intertwined; the latter being one of the five key mechanisms in the Going for Growth agenda.

Nowhere is that more obvious than in the sectors represented here today: agritech, agrifoodtech, deep tech, and biotechnology, sectors where New Zealand has natural advantages, deep expertise and global potential. 

We need smarter, more resilient technologies in energy, transport, and food production. Agritech and agrifood innovation are important components to resilience.

Opportunities in advanced technologies 

Advanced technologies are already reshaping the agrifood economy — from AI enabled automation, to climate resilient crop systems and precision fermentation.

We also see it through companies like Halter, which is demonstrating how locally developed technology can scale globally while delivering tangible productivity gains on farm. 

As you know, Halter has pioneered virtual fencing and precision livestock management through its solar-powered smart collars and software platform, enabling farmers to herd, monitor and manage cattle remotely without physical fences. 

Adoption across New Zealand’s dairy and beef sectors has been rapid, driven by clear benefits including reduced labour pressure, improved animal welfare, better pasture utilisation and increased farm system flexibility. 

Backed by significant venture capital – just last week the business attracted funding valuing it at more than $2 billion – and led by a strong, farmer-focused product vision, it has become a flagship example of agritech commercialisation. It shows how advanced technology, when deeply grounded in real farm needs, can achieve strong market traction and global growth potential.

I am pleased to have Halter founder and chief executive Craig Piggott on the PIMSITAC board, which I will speak more of shortly. 

A further example of agritech success is last year’s Prime Minister’s Science Prize awards that went to AgResearch for developing an endophyte microorganism which enhances the health and productivity of the ryegrass common on New Zealand farms.

We need more of these stories across the economy. 

Innovation is critical to resilience

Our ability to turn research into innovation, and innovation into growth is going to be critical to economic resilience and building our future success.

In Denmark – a country like New Zealand of around five million people – recent pharmaceutical breakthroughs have delivered a modern economic miracle – creating a tidal wave of growth, employment, and opportunity.

When I came into this role, one thing was immediately clear: New Zealand produces excellent science, but our system does not consistently turn those ideas into commercial success.

The Science Advisory Group report identified this as one of many problems to fix, including too much competition, too little competition, underutilisation, poor collaboration, poor connection with industry, poor alignment with government priorities, complex disconnected funding panels, and poor commercialisation. Apart from that, everything was fine! 

Too many promising ventures stall at the research and proof of concept stages and cannot develop to a stage in which they can access venture capital. 

They can also lack the capability support and capital they need to scale.

Too much intellectual property is left on the shelf, including IP disclosures that become effectively dormant.

Comparing public science funding with Australia suggests we do well at the discovery phase but do not push on into spinouts and start-ups, as well as they do. 

Changes to science system

Part of this is in our hands, where capital flows in our economy have been misaligned for years. Not enough investment has been targeted at the creation of new technologies, new products, and new companies.

That is why the Government is undertaking the most significant modernisation of the science, innovation and technology system in more than three decades.

Our goal is simple: A science system that produces world‑class research and turns it into world‑class companies.

Key reforms in the past year alone show the huge amount of work that’s been done in just one year holding the portfolio, including:

• A shift to a strategy‑driven funding system that aligns public investment with national research priorities
• A new national intellectual property framework to strengthen incentives and pathways for researchers to commercialise breakthrough ideas.
• Consolidation of the seven CRIs into three Public Research Organisations, including the Bioeconomy PRO, which will be pivotal for agrifood and agritech innovation.
• Creation of PMSITAC as the national strategic science council.
• Creation of Research Funding New Zealand, aligning investment with national priorities and economic opportunity.
• Establishment of the New Zealand Institute for Advanced Technology, backed by $231 million, with a statutory mandate to commercialise frontier technologies such as quantum, AI and synthetic biology.

Our science reforms must be matched with strong support for businesses at every stage of the commercialisation pipeline.

At the early stage, our revamped science system will ensure public R&D investment is maximised.

At the scaling stage, tools like Elevate, the R&D Tax Incentive, InvestNZ and NZTE are helping firms grow globally.

In the middle, the critical point between proof of concept and investability, we see great opportunity for improvement.

This is where capability support such as incubators, accelerators, commercialisation coaches; and early capital such as PreSeed‑ Accelerator Fund, Technology Incubators, Aspire; must be aligned. 

We are now working to ensure a joined‑up, coherent pathway so founders can get the right support at the right time.

Role of PMSITAC 

Last year in his state of the nation speech, the Prime Minister also announced the establishment of the Science, Innovation and Technology Advisory Council (PMSITAC) to set research priorities and ensure funding is targeted for maximum impact. I chair that council and acknowledge deputy chair and chief science advisor John Roche from MPI who is also in the room.

Earlier this year, the Prime Minister asked the Council to be bold; to tell the Government how to build a system that is focused, effective and equipped for the future. 

He said that the prize – if we can get it right – could be game-changing for New Zealand.

The council’s role was not simply to diagnose long-standing issues, but to chart a path forward. 

The Council has done just that and delivered recommendations which the Government is backing.

Today, I am pleased to announce the release of the Prime Minister’s Science, Innovation and Technology Advisory Council (PMSITAC) Report on Prioritisation in New Zealand’s Science, Innovation and Technology System.

It sets out how we will refocus science investment into areas that will make the biggest difference for New Zealand. 

This report focuses on science funding in the portfolio and not the almost equal amount of science funding in other portfolios including MPI, DoC, TEC, Centres of Research Excellence, and TREF – previously PBRF. Those funds are outside this report.

This report focuses on science funding in the SIT portfolio, and not the almost equal amount of science funding elsewhere, including MPI, DoC, Callaghan, TEC and MoE funded centres of research excellence, and TREF previously known as PBRF, the $315 million a year which funds university research. Those funds are outside this report. 

The key elements of the report are:

1. Four priority pillars
2. Investigator-mission led reweighting
3. Rebalancing agriculture and environmental investment with advanced technology
4. A simplified strategic and funding pathway with reduced bureaucracy.

1 – Priority pillars 

The Council’s report signals four areas, or pillars, where Government’s science investment can make the biggest difference for New Zealand. 

These are:

• Primary Industries and Bioeconomy
• Technology for Prosperity
• Environmental Sustainability and Resilience
• Healthy People and a Thriving Society

These four pillars reflect where New Zealand has existing strengths and capability, but also where there is opportunity for us to do more. The SAG report consistently focused on science prioritisation that we are or should be good at.

For investors, the PMSITAC report is a strong signal of long-term‑ policy alignment.

The Council’s advice is clear:

New Zealand under invests in advanced technology research, and is overweighted in agricultural and environmental research, compared to similar economies, including taking into account the primacy of our agricultural sector.

Some of this reflects how our system and economy has evolved. 

However, if we want science and innovation to more strongly drive economic performance, wellbeing and national resilience, we need a different balance of investment.

At the heart of the report is a new Technology for Prosperity pillar, which will crosscut across all science endeavours.

It is not designed to grow a single sector, but to build national capability. 

Investments in areas such as quantum technologies, AI modelling, next generation sensing and engineered biological systems, will enable innovation across all four pillars, including agrifood and agritech.

2 – Investigator/mission-led reweighting 

The Council recommends adjusting the funding balance within these pillars to be 60 per cent mission-led (aligned to national priorities and outcomes) and 40 per cent investigator-led (competitively funded, curiosity-driven research).

This replaces the current approximate 45 per cent mission-led and 55 per cent investigator-led balance, and positions New Zealand alongside other leading small, advanced economies who are similarly positioning towards more mission-led science.

3 – Rebalancing agriculture and environmental investment with advanced technology

The Council recommends that we increase investment in advanced technology through a gradual reallocation of some of the agriculture and environmental research funding. 

Cross cutting will clearly position some of this funding back into those areas, just from a different pillar and with an emerging technology lens. For example, through something like AI-driven robotic harvesting technology. 

This does not mean starting again or discarding what we do well.  Rather, it is to build on our existing strengths and direct more investment toward areas where New Zealand has a genuine comparative advantage, where we need research that addresses the unique needs and challenges of New Zealanders, and where emerging technologies are shaping future opportunities.

In short, redirect resources for an outsized impact.

Will humanities and social sciences still be supported? 

Yes. It is a whole pillar in itself; one of the four.

Is matauranga still supported?

Yes. The $42 million biodiversity platform is evidence of that. 

Will investigator-led, foundational research still be supported?

Yes. Up to 40 per cent of research funding would still fit into this category. 

4 – Simplified science funding with less bureaucracy

The fourth key to the report is simplified science funding with less bureaucracy. The PMSITAC Priorities Report provides a clear path forward. It will inform the development of the Science Investment Plan or SIP, which will set New Zealand’s long‑term research priorities and align public investment with national missions. This plan will be released later this year.

The upcoming Science Investment Plan is the response to this report and will direct Research Funding New Zealand – RFNZ – as the one-stop-shop that operationalises the the PMSATIC strategy. This will be done through Pillar Investment Plans – PIPS.

The simplified system then has:

• PMSITAC, sets out national priorities
• SIP, to detail the strategy
• RFNZ, to operationalise the national strategy
• PIP, to operationalise pillar strategies.

I know that is a few new acronyms, but this aligns with simplified science funding structures in other small, advanced economies. That is less bureaucracy and more funding for researchers. 

This more aligned approach will help ensure New Zealand’s deep‑tech, agrifood and advanced‑technology sectors are positioned to take full advantage of future opportunities, here and globally.

Shifting investment priorities

This transition must be supported by the foundations of the system — our workforce, our research infrastructure, our commercialisation pathways, and our global partnerships.

It strengthens the fundamentals of New Zealand’s agrifoodtech opportunity by shifting investment toward the data, biology, engineering and automation layers that form the foundation of globally scalable agritech companies.

This moves public investment toward platform technologies, for example AI, genomics, sensors, synthetic biology and digital twins, that can generate intellectual property and global revenue. 

For the investment community, this alignment reduces policy risk and increases confidence that New Zealand will continue to produce agri-tech companies at scale capable of competing in large international markets.

The changes also aim to improve the efficiency of the innovation-to-commercialisation pipeline. A more mission-led system, clearer national priorities and simplified funding architecture mean fewer fragmented projects and more concentrated effort behind technologies with real market pull. 

These proposals improve the risk–return profile of agri-tech investment. Stronger upstream public investment lowers technical and regulatory risk, clearer priorities support better capital allocation, and a growing advanced-technology talent base strengthens the founder pipeline. 

This aims to translate into higher-quality deal flow, faster time to scale, and increased potential for international partnerships, follow-on capital and exits. 

Shifting our funding in this way will mean we see more of the benefits that investments in advanced technology is already delivering – boosting farm productivity, reducing environmental impacts, and enabling smarter, data-driven decisions that improve health, resilience and sustainability across New Zealand.

In a tight fiscal environment, public investment must be targeted, efficient and evidence-based‑. Every dollar must do real work.

Funding needs confidence

This report describes reprioritisation and not a reduction in science funding. 

We all agree that more funding is important if we are to retain research capability and deliver on the potential New Zealand has. That funding needs to come from both private and public sources.

As you all know, funding for any venture requires a business case. 

In a sense, the science and research reforms we are undertaking is part of a developing “business case” that the Government needs, to give it the confidence to consider putting more funding into the sector. 

It’s a highly competitive process getting the attention and time of politicians that is needed for consideration of any new money. The case has to be strong.

We all need to prove that we are fixing the basics – by establishing these new entities, having them running smoothly, making sensible and informed decisions that support the national interest and the priorities laid out. 

The Government is committed to building a prosperous future.

We can make policy and create interventions, but it will also require evidence, to build confidence that the sector is contributing and worth investing more in.

Evidence that is easy to digest, links to national benefit and demonstrates that it is delivering real results and returns.

Close 

In closing, I want to thank the Council for their expertise and contribution. Their advice is helping ensure New Zealand’s science and innovation investments deliver enduring value for the country.

To everyone here today, founders, CEOs, researchers, farmers, investors — thank you for the ambition, creativity and drive you bring to this sector. You are building the future of New Zealand’s bioeconomy and delivering solutions the world needs.

Alongside you, I have built the second largest biotechnology Institute in the world and a focused, simplified funding mechanism to advance those goals. 

With a modernised, prioritised science and innovation system, aligned investment signals, and a growing advanced technology capability base, I am confident that New Zealand can remain a global leader in agrifood and agritech-‑innovation.

MIL OSI

Source: GlobeNewswire (MIL-NZ-AU)

NEW YORK, April 01, 2026 (GLOBE NEWSWIRE) — Hall Chadwick Acquisition Corp. (Nasdaq: HCACU) (“HCAC”) and REEcycle Holdings, Inc. (“REEcycle”) today announced the execution of a non-binding Letter of Intent (“LOI”) for a proposed de-SPAC business combination.

The proposed transaction values REEcycle at approximately US$600 million, assuming no redemptions by HCAC public shareholders, with REEcycle existing shareholders expected to roll 100% of their equity into the combined publicly listed entity. The transaction is expected to include a minimum US$50 million PIPE financing at US$10.00 per share, providing committed capital at closing and supporting the execution of REEcycle’s near-term growth strategy.

The transaction comes at a pivotal time for U.S. critical minerals policy. China currently controls an estimated 90% of rare earth separation and processing and ~93% of permanent magnet manufacturing globally.¹ In response, the U.S. Government, through Department of Defense and Department of Energy initiatives, has committed billions of dollars to strengthening domestic critical mineral supply chains, including rare earth processing.² REEcycle has been awarded and is drawing upon US$5.1 million of Defense Production Act funding, supporting the advancement of its domestic rare earth processing capabilities.

REEcycle is advancing a technology-led solution to rare earth supply constraints. Its proprietary recycling process extracts and separates rare earth elements from end-of-life electronics and industrial products, offering a faster, lower-capex and scalable alternative to traditional mining. This approach enables near-term domestic supply while reducing exposure to geopolitical disruption.

The global rare earth market was valued at approximately US$19 billion in 2025 and is projected to reach ~US$36.7 billion by 2034, with recycling expected to grow at an accelerated rate as demand for domestically sourced materials increases.³

REEcycle’s Executive Chairman and largest shareholder is Mick McMullen, a highly respected mining executive with over 30 years of leadership experience across global mining and capital markets. He is best known for his tenure as President and CEO of Detour Gold Corporation, where he grew the company’s market capitalisation from C$2.1 billion to C$4.9 billion in nine months, culminating in its acquisition by Kirkland Lake Gold.⁴ His investment in REEcycle reflects strong conviction in recycling-led onshoring.

“We are addressing a critical U.S. supply gap with a faster and more capital-efficient solution than traditional mining, scalable across the U.S. and globally. This is both a technology opportunity and a national security priority.”

— Mick McMullen, Executive Chairman, REEcycle Holdings

Hall Chadwick Acquisition Corp. raised US$207 million in its Nasdaq IPO in November 2025 and is focused on transactions in critical minerals and industrial technology sectors.

“REEcycle represents a rare combination of proprietary technology, experienced leadership, and direct alignment with U.S. critical minerals strategy. We see this as a platform capable of becoming a meaningful domestic supplier, and we are excited to bring that opportunity to public investors.”

— Alex Bono, CEO, Hall Chadwick Acquisition Corp.

Exclusivity

The parties have agreed to a 60-day exclusivity period to undertake due diligence and negotiate a definitive Business Combination Agreement.

Non-Binding Letter of Intent

The LOI is non-binding and subject to the execution of definitive agreements, completion of due diligence, required approvals, and customary closing conditions. There can be no assurance that a transaction will be completed.

Important Information

This press release contains forward-looking statements regarding the proposed business combination, including expected structure, financing, timing and benefits. These statements involve risks and uncertainties that could cause actual results to differ materially, including the ability to execute definitive agreements, obtain approvals, satisfy closing conditions and maintain listing status. This press release does not constitute an offer or solicitation of securities. In connection with the proposed transaction, HCAC intends to file a registration statement on Form S-4 with the SEC. Investors are urged to review these materials when available at www.sec.gov. No obligation is undertaken to update forward-looking statements except as required by law.

1 CSIS, “China Rare Earth Restrictions,” 2025.
2 U.S. State Dept., “Critical Minerals Fact Sheet,” 2026.
3 Grand Research Store, “Rare Earth Market Report,” 2025
4 Globe and Mail, “Kirkland–Detour Gold deal,” 2019; Business Wire, “Kirkland Lake Gold acquisition,” 2019.

– Published by The MIL Network

Source: Radio New Zealand

A trucking sector veteran says the soaring price of diesel is the worst he’s seen in his 35 years in the industry.

The US and Israel’s ongoing war on Iran has caused a global fuel crisis which is now in its fifth week as Iran continues to block most shipping through the Strait of Hormuz which is used to transit about one-fifth of the world’s oil and gas.

It has hugely disrupted key supply chains and pushed Brent crude oil over $115 a barrel, pushing up prices at the pump.

The price of diesel has nearly doubled in the space of a month since the conflict in the Middle East.

In New Zealand on Wednesday morning, the Gaspy website showed the price of diesel was $3.51 on average – more expensive than the price of unleaded 91 priced at $3.43.

David Hill, general manager of Hawke’s Bay’s Emmerson Transport, said their fuel bill had gone up 110 percent, and they had no choice but to pass that on to their customers.

“In the 35 years I’ve been involved in the road transport industry, we’ve never seen increases of this magnitude,” he said.

“Most operators obviously are having issues with funding that,” he added.

Hill said prudent operators would take into account the “Fuel Adjustment Factor” (FAF), and set their rates at the end of the month for the following month.

However, he said some operators were on fixed price arrangements – such as quarterly pricing – and would not be able to adjust their prices.

Hill said his company had taken a hardline approach to FAF, and their customers had been understanding.

“Most responsible corporates these days accept what the situation is and work with their providers… because we’re gonna do nobody any favours the stakeholders or our staff – if we go outta business due to the fact that we’ve not recovered the fuel FAF.”

Hill said the current situation was comparable to the diesel spike during the Global Financial Crisis – but he added that even then, the New Zealand currency had a stronger exchange rate to the US dollar than now.

Tour bus operator forced to implement fuel surcharge

Meanwhile, a tour bus operator has had to implement a fuel surcharge to accommodate for the growing diesel prices.

Ready 2 Roll offers tours and airport transfers in the central North Island.

Director Carleen Dahya told Morning Report they had seen nearly a $100 increase at the pump in just over a week.

“Already a vehicle that was costing us $140 to fill up a week and a half ago is now $250.”

Dahya said they were currently charging a 12 percent surcharge, but the effects would take time to flow through.

“We’re not going to start to recover that until sort of a month’s time because we’ve honoured bookings that we’ve already got because it’s not their fault – it’s not our fault, but we’re the ones who have to wear it.”

She said even with adding the 12 percent on, with the cost of diesel, the numbers were tight.

“It’s going to be an interesting process moving forward, how many times we have to increase our surcharge to keep up with the fuel increases.”

Dahya said the current situation was a nightmare.

“With the diesel prices as well as road user [charges], it’s going to kill us.”

She said they were also seeing a trend of people cancelling due to disruption the fuel crisis was having their travel plans.

Finance Minister says tax relief won’t work

Finance Minister Nicola Willis has rejected any tax relief for the transport industry saying it would not work.

She acknowledged the diesel price was very high saying it reflected the fact that diesel was one of the fuel’s that had been most disrupted by the crisis in the Middle East.

“It’s cost to get into New Zealand has gone up considerably and that’s where you’ve seen the biggest price rises.”

Diesel users pay their road tax through the road user charge, where as petrol users just pay it at the pump as the tax is added to the price of their fuel, she said.

“The challenge we face is that if we were to take away that tax that would put a half billion dollar hole in our road funding which would only multiply every time you extended that reduction … and then we would simply not have enough funding available to maintain our roads.”

She said officials have also been clear that there may come a time when road users would be asked to conserve fuel.

“Our officials have been very clear that sending a price signal that you’re taking away a tax at the same time as you’re asking for restraint doesn’t make sense, it’s very contradictory.”

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

MIL OSI

Source: Media Outreach

SINGAPORE – Media OutReach Newswire – 31 March 2026 – Apical, through its business unit PT Sari Dumai Oleo (PT SDO), recently inaugurated the Rumah FABA Kreasi Muda in Lubuk Gaung, Sungai Sembilan, Dumai, Riau. The initiative forms part of the company’s efforts to support community empowerment through productive economic activities.

Rumah FABA Kreasi Muda serves as a production facility for concrete blocks and paving stones using Fly Ash and Bottom Ash (FABA) – non-hazardous by-products generated from Apical’s power plant – as alternative raw materials. These materials are processed into construction products that can support infrastructure development in the surrounding community.

In his remarks, PT SDO Head of General Affairs, M. Jaya Budi Arsa, said the initiative was introduced to strengthen economic independence in communities around the company’s operational areas. “We established Rumah FABA Kreasi Muda to create new business opportunities and support the economic independence of nearby communities. We hope this facility will help enhance residents’ skills and capacity to run sustainable businesses,” he said.

To support the programme’s implementation, Apical, a member of the RGE group of companies founded by Sukanto Tanoto, has provided assistance through the construction of the production facility, the supply of equipment and the provision of a steady supply of FABA as an alternative raw material. This support is intended to enable the community to carry out production in a structured manner while gradually developing independently managed businesses.

Lubuk Gaung Subdistrict Head Syafrianto, S.Sos., M.IP., noted that the Rumah FABA initiative has had a direct impact on youth engagement and local economic development. He also emphasised the importance of continued guidance to ensure the business can grow sustainably.

“Rumah FABA provides space for young people in Lubuk Gaung to take part in productive activities and access new job opportunities. Moving forward, ongoing support will be key to ensuring the business continues to grow and deliver long-term benefits,” he said.

Rumah FABA Kreasi Muda is expected not only to create employment opportunities but also to strengthen the community’s capacity to manage businesses independently. By repurposing available materials, the programme generates added value while promoting resource efficiency.

In line with Apical’s 5Cs business philosophy – doing what is good for Community, Country, Climate and Customer, and only then will it be good for the Company – the company aims to ensure that its operations deliver balanced benefits for society, the environment and long-term business sustainability.

Apical — Leading Vegetable Oil Processor

Hashtag: #RGE #Apical #Palm #CommunityEmpowerment #Indonesia

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.