The Crimes (Theft by Employer) Amendment Bill passing committee stage in the House is a win for workers, said NZCTU Te Kauae Kaimahi President Richard Wagstaff. The Bill, which amends the Crimes Act 1961 to clarify that not paying an employee their wages is theft, will now head to Third Reading.
“We are thrilled that this Bill is making its way through the House and looks set to become law,” said Wagstaff.
“Theft is theft. It’s past time that the legal system recognises that ‘theft by employer’ is every bit as serious and criminal as any other type of theft.
“Currently, workers who suffer theft of their wages or minimum entitlements only have civil remedies available to them. Workers must spend their own money to argue their case in the court or the Authority, a cost that is too high for many. Too often cases of ‘theft by employer’ go unpunished and unresolved.
“We acknowledge Camilla Belich and Ibrahim Omer for their leadership on this issue and thank all political parties who have supported it.
“At a time when the workers’ rights in Aotearoa are under attack, we welcome this win for working people,” said Wagstaff.
State Highway 3 is expected to be closed for several hours following a serious single-vehicle crash.
About 8.45am, emergency services were alerted to the crash. Initial indications suggest a van left the road and hit a tree between Maraetaua and Pukenui roads.
One person is reportedly in a critical condition after being ejected from the vehicle, while another is in a moderate condition and is being extracted from the vehicle.
The Serious Crash Unit is attending, and the highway is expected to be closed for some time. Motorists are advised to expect delays.
Auckland Council has recorded $43.2 million in savings so far this year – two-thirds of the annual savings target of $66 million.
The council’s savings initiative is part of an ongoing programme to ensure ratepayers get value for money and cost-effectiveness across the organisation, through clear targets set in the Long-term Plan.
Council savings is supported by Value for Money reviews and a new Better Value Projects initiative which will ensure investments in projects are good value for money.
Through the mayoral proposal for the Annual Plan 2025/2026, Mayor Wayne Brown sought further measures on how council procures and effectively spends ratepayer money on projects.
The new Better Value Projects programme was presented at this week’s Revenue, Expenditure and Value Committee.
“This is very positive progress. We have a responsibility to ensure ratepayers’ money is used efficiently – we need to spend council money like it is our own,” says Mayor Brown.
“I’ve always been clear that we need to stop wasting money. That’s why as a council we need to follow basic rules like setting a maximum price and having a clear definition of the problem you’re trying to solve, before spending ratepayer money.
“We need to consistently deliver every project for Aucklanders effectively and affordably. I’m pleased to see this piece of work coming to life – as a result, Aucklanders can be more assured that council projects are ensuring best value for money.”
Better Value Projects identifies 10 areas that will make the biggest difference to improving value ratepayers receive from the council procuring and delivering capital projects, as well as some operational programmes.
This includes increased use of standard designs; setting maximum prices; added rigour to scoping and design work; additional problem definition and value assessments; and careful selection of providers, across location and performance measures.
Over $150 million savings this year Revenue, Expenditure and Value Committee chair Deputy Mayor Desley Simpson says in addition to Better Value Projects, the council has made great progress on savings, with $43.2 million already achieved.
The $66 million savings target this financial year builds on ongoing savings of $90 million per year, totalling over $150 million savings this year.
“We are looking at every opportunity to ensure cost-efficiency, and it’s paying off. This work directly rewards our ratepayers, helping rates to remain affordable and ensuring every dollar goes as far as it can,” says Cr Simpson.
“Achieving 65 per cent of our 2024/2025 savings target so far is a positive sign that we’re striving hard to deliver on our commitments. Alongside savings, we’re continuing additional programmes to deliver value for money to ratepayers.”
All savings are directly used to keep rates and debt down. For every $25 million of planned savings in the council’s budget, rates rise of around 1 per cent is avoided.
Value for Money reviews The Revenue, Value and Expenditure Committee is also overseeing the council’s ongoing programme of Value for Money reviews.
The reviews approved by the committee this week mean 10 Value for Money reviews will have been undertaken this council term, and in total 20 reviews since the start of the programme in 2017.
Under Section 17a of the Local Government Act, the council’s Value for Money team works across the council group to consider current services and recommend new ways to deliver, while optimising council’s investment in assets, achieving greater integration and cost-effectiveness.
“Continuing to build our savings and value for money work, alongside new options through Better Value Projects, is one way the council demonstrates its efficiency and its focus on delivering value for ratepayers,” says Cr Simpson.
Attributable to Inspector Clifford Paxton, Western Bay of Plenty Area Commander:
Police are aware of a gang related tangi for the father of a prominent gang member, due to take place in the Western Bay of Plenty Area on Friday 21 February.
Bay of Plenty Police will be monitoring the tangi and procession in Waitangi, Te Puke, due to take place around midday.
Motorists are advised to plan ahead as Police believe there could be some disruptions on the road, while attendees make their way to the tangi from Tauranga and other areas.
Police advise those attending that we will not tolerate any unlawful activity, and this will be met with enforcement action where it is identified.
Police will follow up in instances if we are unable to take enforcement action at the time, with information about the offence and offender noted for further action.
If you see any unlawful activity, please contact Police via 111 if it is happening now or 105 if its after the fact either online or over the phone.
Focusing on Three Key Areas to Develop a Professional Basketball Ecosystem and Promote a Healthy and Active Lifestyle
HONG KONG SAR – Media OutReach Newswire – 19 February 2025 – Sun Life and the Basketball Association of Hong Kong, China (BAHKC) held a partnership signing ceremony today (February 19), officially announcing an investment of over HK$10 million for a three-year collaboration. This strategic partnership will focus on three key areas: athlete support, basketball popularization, and community outreach. The initiative reflects Sun Life’s commitment to basketball development and aims to build a professional and sustainable basketball ecosystem in Hong Kong while encouraging the public to embrace an active and positive lifestyle.
Sun Life (right) and the Basketball Association of Hong Kong, China (left) held a partnership signing ceremony.
Extending Global Basketball Support to Drive Local Basketball Development Sun Life has been committed to promoting a healthy lifestyle and believes that basketball, as one of the world’s most popular sports, can enhance physical and mental health and community cohesion. Since 2014, Sun Life has supported the NBA’s Toronto Raptors, becoming the team’s first jersey patch sponsor in 2017. In 2023, Sun Life further strengthened its commitment to basketball by reaching a multi-year sponsorship agreement with Canada Basketball, becoming the official jersey sponsor and Official Health and Wellness Partner for Canadian men’s and women’s national teams, in line with its philosophy of promoting healthy living.
Mr. Clement Lam, Chief Executive Officer of Sun Life Hong Kong Limited, stated at the signing ceremony, “Sun Life’s mission is to help clients achieve lifetime financial security and live healthier lives. Our global headquarter in Canada has been supporting basketball development since 2014 and has actively expanded to many regions in Asia in recent years. This partnership with the Basketball Association of Hong Kong, China, will focus on both commercialization and professionalization, leveraging innovation and diverse collaboration to enhance the local basketball ecosystem, fulfilling our corporate mission.”
Three-Year Partnership Covering Three Key Areas to Achieve Sustainable Development Sun Life is committed to building a sustainable and healthy society and understands the importance of popularization and professionalization for sports development. Therefore, this partnership covers the following three areas.
1. Athlete Support Sun Life will use its insurance expertise to provide medical and accident insurance for members of the Hong Kong basketball team, addressing the long-standing problem of athlete protection. In addition, to help young players achieve the goal of dual development in sports and academics, Sun Life will fund the establishment of a scholarship program by the BAHKC to provide scholarships for members of the Hong Kong U18 and U22 basketball teams who have successfully enrolled in or are currently attending university. It will also establish a youth player internship program to allow players to prepare for their post-retirement career development through workplace seminars and internship opportunities.
2. Basketball Popularization To encourage more people to continue participating in basketball and improve their skills, Sun Life will sponsor various basketball competitions, assisting in revolutionizing the games and promoting basketball development. One of the key projects is the “Hong Kong Open Division Men’s and Women’s Basketball League,” which will be title-sponsored by Sun Life. This will be Hong Kong’s first self-financing league with a promotion and relegation system, establishing a clear development pathway for teams and players while strengthening the competitiveness of local basketball. The league will have no age restrictions, and players of any age can sign up to participate and compete in the same event. It is expected to become the largest and most developmental basketball league in Hong Kong, in line with Sun Life’s philosophy of promoting a healthy and active lifestyle and building a healthy and inclusive community. Glen Yang, a member of the Hong Kong, China Basketball Team, who has participated in professional leagues in Canada, Spain, and Taiwan, agrees that the Open-League will be able to attract more players to participate and contribute to the development of basketball in Hong Kong.
From 2025 to 2027, Sun Life will also sponsor the National Day Cup Basketball Tournament, inviting local universities and tertiary institutions to participate, using basketball to promote community cohesion and provide more resource support for sports development in tertiary institutions. The competition will also invite overseas university teams to participate, strengthening exchanges between Asian university basketball teams, encouraging healthy competition, and thereby improving the competitive level of local basketball.
3.Community Outreach Since 2023, Sun Life has partnered with Beyond Sport, a global foundation promoting sustainable social change through sports, to promote the “Hoops + Health” charity program in Asia, including Hong Kong. Following last year’s collaboration to revitalize the Wah Sum Basketball Court in Fanling, hold basketball coaching workshops, and organize youth basketball activities, this year, they will expand the program and hold free youth basketball workshops in various districts. This encourages young people to develop an optimistic and positive lifestyle, emphasizing both physical and mental well-being.
Mr. Benny Chow, Team Leader of theYouthTeam of the Basketball Team of Hong Kong, China, said, “We will work with Sun Life to deepen the promotion of community basketball and connect it with more professional and comprehensive systematic training. We aim to bring new energy into the local basketball, discover and nurture new talent, and attract more young people to join basketball and even develop basketball careers.”
Sun Life and BAHKC Join Forces to Promote a Healthy and Active Lifestyle Sun Life is committed to promoting basketball, not only to encourage young people to develop healthy living habits through basketball but also to embody the value proposition of Sun Life’s agency team through this passionate sport: “Collaboration,” “Progressive,” and “Impactful.” Mr. Mark Tian, Chief Agency Strategy and Growth Officer of Sun Life Hong Kong Limited stated, “Sun Life values the holistic development of our financial advisors and encourages the team to contribute to the community by actively participating in sports and community activities. Therefore, we have formed a basketball team and will sign up to participate in the Hong Kong Open Division Men’s and Women’s Basketball League sponsored by Sun Life to promote healthy living through action. We hope that through this cooperation, we can showcase Sun Life’s long tradition, dynamic business development, and sustainable future and further embody Sun Life’s team spirit of One Team, One Goal, Win As One.”
Mr. Siu-wong Chan, Executive Vice President and Honorary President of the Basketball Association of Hong Kong, China, added, “Sun Life has been promoting healthy living in different ways and is committed to bringing the community together through sports. Our shared vision for basketball development aligns perfectly. This collaboration will bring new energy to local basketball by not only providing substantial resources to support its growth but also by having Sun Life’s team actively participate in the league. This encourages the public to embrace an active and positive lifestyle.”
Hashtag: #SunLife #BAHKC
The issuer is solely responsible for the content of this announcement.
2024Annual Results – Financial Highlights (Figures for the corresponding period in 2023 are shown in brackets)
Consolidated revenue: HK$ 901 million (HK$ 822 million)
Consolidated net loss attributable to equity holders of the Company: HK$ 230 million (HK$ 466 million)
Basic loss per share: 11.29 HK cents (22.89 HK cents)
No final dividend (No final dividend)
HONG KONG SAR – Media OutReach Newswire – 19 February 2025 – Pacific Century Premium Developments Limited (“PCPD”, SEHK: 00432) has announced its annual results for the year ended December 31, 2024.
The consolidated revenue of PCPD and its subsidiaries (together, the “Group”) amounted to HK$ 901 million, representing an increase of 10% compared to the revenue of HK$ 822 million in 2023.
The consolidated net loss attributable to equity holders of the Company for the year of 2024 was HK$ 230 million, compared to the net loss of HK$ 466 million in 2023.
Basic loss per share for 2024 was 11.29 Hong Kong cents compared to the loss per share of 22.89 Hong Kong cents for the previous year.
The Board of Directors has not recommended the payment of a final dividend for the year ended December 31, 2024.
In 2024, we delivered a robust set of results, indicating that PCPD is now firmly back on a growth trajectory. We had much to benefit from international tourism bouncing back strongly and a devalued yen. In particular, the record-breaking surge in tourism in Japan has helped us achieve a notable rise in occupancy and revenue of Park Hyatt Niseko, Hanazono.
As of the winter season of 2023/24, the number of ski rides encompassing ski lifts and gondolas was up 70% from the pre-pandemic period, namely the winter season of 2018/2019. The tourism boom also had a positive impact on our recreational business in Niseko beyond the white season.
In Jakarta, Indonesia, the occupancy of our premium commercial building, Pacific Century Place, Jakarta (“PCP Jakarta”), was stable throughout the year and remained a consistent revenue contributor to the Group. As of December 31, 2024, the office space committed occupancy was 85%, compared to 83% in the previous year.
Construction of the superstructure at 3–6 Glenealy, Central, Hong Kong, commenced in April, 2024. The work has been progressing well. Completion of the project is scheduled for early 2026.
Cautiously optimistic about the property sectors in Hong Kong, Japan, Thailand and Indonesia in the long run, we are confident of our ability to keep improving our business performance and maximise returns in 2025.
Mr. Benjamin Lam, PCPD’s Deputy Chairman and Group Managing Director, said: “We will keep a close eye on different risk factors and changes. Our approach will remain prudent yet proactive. We will continue to reinforce our business foundation and devise effective strategies to boost profitability, with the ultimate aim of maximising returns for our stakeholders.”
Hashtag: #PCPD
The issuer is solely responsible for the content of this announcement.
RIYADH, SAUDI ARABIA – Media OutReach Newswire – 19 February 2025 – Sahm Capital, the first fintech-driven financial company to secure full Capital Market Authority (CMA) licensing (license no. 22251-25), is proud to announce its participation as a platinum sponsor at the Capital Market Forum (CMF) 2025. Organized by the Saudi Tadawul Group, CMF 2025 took place from February 18–20, 2025, in Riyadh, Saudi Arabia, serving as a premier global platform for fostering interconnectedness between key financial markets worldwide.
This marks Sahm Capital’s second appearance as a sponsor at CMF, underscoring its commitment to expanding its presence in the domestic market and supporting Saudi Arabia’s Vision 2030. The initiative aims to diversify the economy, empower citizens, attract investors, and establish Saudi Arabia as a global leader in innovation and sustainability.
Founded in 2022 and fully licensed by the CMA, Sahm Capital has rapidly grown into a leading fintech player. In October 2023, the company received licenses for Dealing, Advising, and Custody services, followed by the launch of the Sahm trading app in December 2023. The app, a first-of-its-kind platform, has already surpassed 1 million users, making it one of the fastest-growing trading platforms in the region.
In addition to its brokerage licenses, Sahm Capital secured Managing and Arranging licenses from the CMA in October 2024, positioning the company to offer a wide range of financial services, such as investment banking, managing investments and operating funds. Backed by Valuable Capital Group, a multinational entity with regulatory expertise in Hong Kong, Singapore, and the United States, Sahm Capital leverages its global network to deliver comprehensive financial services to a broader investor base.
Hadeel Bedeeri, General Manager of Sahm Capital, commented: “After three years of deepening our roots in Saudi Arabia, we are honoured to be embraced by over a million users. This achievement boosts our confidence as we look to serve a broader audience across the Arab world with high-quality financial services, aiming to help every investor realize their full potential in a thriving, opportunity-rich capital market.”
19 February 2025 – Annual consumer price inflation remains near the midpoint of the Monetary Policy Committee’s 1 to 3 percent target band. Firms’ inflation expectations are at target and core inflation continues to fall towards the target midpoint. The economic outlook remains consistent with inflation remaining in the band over the medium term, giving the Committee confidence to continue lowering the OCR.
Economic activity in New Zealand remains subdued. With spare productive capacity, domestic inflation pressures continue to ease. Price and wage setting behaviours are adapting to a low-inflation environment. The price of imports has fallen, also contributing to lower headline inflation.
Economic growth is expected to recover during 2025. Lower interest rates will encourage spending, although elevated global economic uncertainty is expected to weigh on business investment decisions. Higher prices for some of our key commodities and a lower exchange rate will increase export revenues. Employment growth is expected to pick up in the second half of the year as the domestic economy recovers.
Global economic growth is expected to remain subdued in the near term. Geopolitics, including uncertainty about trade barriers, is likely to weaken global growth. Global economic activity is also likely to remain fragile over the medium term given increasing geoeconomic fragmentation.
Consumer price inflation in New Zealand is expected to be volatile in the near term, due to a lower exchange rate and higher petrol prices. The net effect of future changes in trade policy on inflation in New Zealand is currently unclear. Nevertheless, the Committee is well placed to maintain price stability over the medium term. Having consumer price inflation close to the middle of its target band puts the Committee in the best position to respond to future inflationary shocks.
The Monetary Policy Committee today agreed to lower the Official Cash Rate by 50 basis points to 3.75 percent. If economic conditions continue to evolve as projected, the Committee has scope to lower the OCR further through 2025.
Despite ongoing economic pressures, a new consumer survey by ExerciseNZ reveals a promising outlook for New Zealand’s exercise industry. Conducted by Horizon Research for the past five years, the survey polled New Zealand adults nationwide and highlights a growing interest and uptake in physical activity and structured exercise, presenting significant opportunities for industry growth in 2025.
The survey, conducted in late 2024, is set for release in February 2025.
Richard Beddie, CEO of ExerciseNZ, notes that while economic challenges often impact discretionary spending, exercise remains a priority for many Kiwis. “People increasingly recognise the benefits of regular exercise—not just for physical health but also for mental wellbeing and resilience. Even in times of financial uncertainty, we see continued demand for exercise services, highlighting the industry’s resilience and growth potential,” says Beddie.
Key Findings from the Consumer Report:
Strong Intent to Start Exercise
Over a quarter of a million (309,000) adults plan to begin structured exercise in 2025. 10% of adults are considering joining a structured exercise provider in the next 12 months.
Increased Use of Exercise Professionals
28% of adults (1,075,000 people) pay for one-on-one exercise professionals—a 6% increase from 2023. 15% (595,000 people) see an exercise professional weekly, up 4%. 8% of non-users (309,000 adults) plan to start, indicating 30% growth potential.
High Value Placed on Physical Activity
98% of New Zealanders value physical activity. Top reasons: health benefits (76%), mental health (64%), and feeling good (61%).
Shift in Exercise Preferences
67% of adults exercise, up from 64% in 2023—defying the trend of declining physical activity. 22% (866,000 people) use structured providers, with 12% in group classes and 14% training individually. Small gyms/studios and recreational facilities (both 11%) are growing, while large gyms saw a slight decline (14%).
Despite economic challenges and cost-of-living pressures, the survey shows that New Zealanders are prioritising their health and well-being, with a strong intent to increase physical activity. The exercise industry is well-positioned to capitalise on this trend by offering flexible, affordable, and varied exercise options to meet consumer needs.
Beddie adds, “The findings from this year’s survey are incredibly encouraging. Despite economic challenges, New Zealanders want to exercise more and see the value in professional guidance and structured programs. This presents a significant opportunity for the industry to grow and adapt to evolving consumer needs.”
As the industry gears up for a dynamic year ahead, ExerciseNZ remains committed to supporting exercise professionals, facility operators, and the wider exercise community in navigating growth opportunities while maintaining high service standards and accessibility for all New Zealanders.
SINGAPORE – Media OutReach Newswire – 19 February 2025 – Singapore-based fragrance company Euvella is set to expand its collection with the introduction of two new scents—White Musk and Aquamelon—designed to elevate home ambience through their signature reed diffuser sticks. Slated for a tentative early March release, these new fragrances promise to bring a fresh and sophisticated touch to living spaces.
White Musk, a delicate and refined scent, combines fruity and floral notes with a warm, musky base. The fragrance opens with crisp apple and juicy peach, followed by a floral heart of rose, muguet, and lilac. Finally, the scent deepens with musky and sandalwood undertones, offering a comforting and elegant finish. This scent is ideal for those who appreciate a soft yet enduring fragrance in their homes.
Aquamelon, on the other hand, delivers a vibrant and refreshing experience with its bright and juicy composition. The top notes feature a blend of melon, apple, and aldehydic citrus freshness, leading into a heart of pineapple, grapefruit, galbanum, and rose. The base settles into a sweet combination of peach, sugar, vanilla, and raspberry, creating a delightful contrast between crisp freshness and gourmand warmth. Perfect for those who enjoy invigorating, fruity fragrances, Aquamelon is set to be a standout addition to Euvella’s collection.
Euvella has built a reputation for crafting high-quality fragrances that transform spaces into inviting retreats. With their commitment to premium ingredients and carefully curated blends, Euvella’s latest offerings reinforce their position as a go-to brand for home fragrances.
