This Analytical Note examines how New Zealand’s tax and transfer system affects financial incentives to work, using Effective Marginal Tax Rates (EMTRs) as the main measure. EMTRs show how much of each additional dollar earned is lost through taxes and benefit reductions. High EMTRs are an unavoidable feature of any targeted welfare system that aims to support those most in need while managing government costs.
Key findings include:
Most New Zealanders (94%) face EMTRs below 50%, with only 6% experiencing EMTRs over 50%. However, the distribution of EMTRs varies significantly across different family types.
Families without children generally experience lower EMTRs and therefore higher work incentives, as they are less likely to receive government support payments that reduce with increases to income. Around 90% of these families have EMTRs at their marginal tax rate.
In contrast, many families with children face much higher EMTRs and lower work incentives, particularly single-parent families. These high EMTRs come from a combination of factors including income tax and reductions in benefit, Working for Families tax credits, and Accommodation Supplement. 13% of couple-parent families and 30% of single-parent families have EMTRs greater than 50%.
A small number of families have EMTRs higher than 100%, and these are all families with children.
This analysis highlights the complex interplay between various elements of the tax and transfer system in New Zealand. It demonstrates that most people keep a reasonable amount of their additional earnings when they work more hours, but parents -especially single parents – often face significant financial penalties for working more. These findings provide valuable insights into the structure of New Zealand’s welfare system and its potential impacts on labour market participation across different demographic groups.
Disclaimer: The views, opinions, findings, and conclusions or recommendations expressed in this paper are strictly those of the authors. They do not necessarily reflect the views of the New Zealand Treasury or the New Zealand Government. The New Zealand Treasury and the New Zealand Government take no responsibility for any errors or omissions in, or for the correctness of, the information contained in papers and articles.
The driver of a stolen vehicle who allegedly ran a red light and fled from Police will front court today.
At about 2.20am, officers observed a Toyota Hilux Surf travelling at speed on Ronwood Avenue, Manukau, where it allegedly failed to stop at a red light.
Counties Manukau South Area Response Manager, Senior Sergeant Minho Lee, says the vehicle then continued on and entered the Southern Motorway where the Police Eagle helicopter took over observations.
“The vehicle was tracked until it exited at Beach Road, and was spiked on Rosehill Drive however it continued on.”
Senior Sergeant Lee says the vehicle then stopped outside an address on Great South Road, Opaheke where the two occupants fled on foot through properties.
“The pair has then entered a property, where they were taken into custody without incident.
“This incident involved good coordination between a range of Police resources overnight, resulting in our staff working together to ensure this incident could be brought to a safe conclusion.”
A 19-year-old man will appear in Papakura District Court today charged with unlawfully taking a motor vehicle, failing to stop, driving with no license, dangerous driving and possession of cannabis.
If you’re travelling the Hawke’s Bay state highway network, you can expect to see a renewed level of activity from NZ Transport Agency Waka Kotahi and Transport Rebuild East Coast crews for 2025.
Crews are back at work repairing and renewing state highways to ensure more efficient travel and safer, more resilient roads.
Work at many sites on State Highways 2, 5 and 50 are underway or about to get underway in the coming weeks, with stop / go traffic management and temporary lower speed limits in place.
NZTA is reminding everyone using the state highway network around the region to plan their journeys and expect delays. While summer maintenance work has been staged to reduce the overall impact on road users, there is likely to be delays to people’s travel – with cyclone recovery work, annual road renewals and other projects underway.
Please allow extra time to travel around the region and use NZTA’s Journey Planner to check for updates.
The dates below are weather dependent.
SH2 (north of Napier) sites underway or starting this month
Night works currently underway: SH2 closure with no detour between Waihua Bridge and Ohinepaaka Stream Bridge repairs. Forecast rain postponed this work, now starting again tonight (Wednesday 22 January) through until Friday 24 January, 8pm to 5am each night. Related traffic bulletin
Resurfacing Mohaka slow vehicle bay, is underway, with line marking expected this week. Related traffic bulletin
Sandy Creek recovery – stabilising three underslips with soil nails. This recovery site is underway at the moment and expected to be complete in May. Stop/go traffic management is in place with delays of 5 minutes expected.
Devil’s Elbow recovery work continues with expected delays of between 5 and 10 minutes. Most of the work in this area is expected to be completed by mid year with one remaining site, to the south of the Elbow, to be completed at the end of 2025.
Tangoio Falls Reserve underslip recovery continues with stop /go traffic management and expected delays of 5 minutes. This project will be finished by the end of January
SH2 Hawke’s Bay Expressway
From Sunday 26 to Friday 31 January, sections of SH2 Hawke’s Bay Expressway will be closed from 8pm to 5am each night. The work will be finished by 5am on Saturday 1 February.
Sunday 26 Jan – Between Pākōwhai Road and Evenden Road, 8pm to 4am for flexible median barrier repairs. Local road detour suitable for all vehicles.
Monday 27 – Wednesday 29 Jan – Between Prebensen Drive and Taradale Road roundabouts, closed for 3 nights. Local road detour suitable for all vehicles.
Thursday 30 Jan – Kennedy Road on ramp, closed for 1 night. Local road detour suitable for all vehicles.
Thursday 30 – Friday 31 Jan – Between Meeanee Road and Pākōwhai Road/Links Road, closed for 2 nights. Local road detour not suitable for heavy vehicles.
SH2 Central Hawke’s Bay sites underway or starting this month
Taniwha Station Road road rebuild is expected to finish early February, with possible delays of 10 minutes.
Waipawa road rebuild between Victoria Street and Tamumu Road started Monday 13 January and is expected to finish mid-March. Related traffic bulletin
SH5 sites underway or starting this month
Gum Trees South road rebuild is underway and is expected to finish mid-February with possible delays of 10 minutes.
Hukatara road rebuild is expected to start end of January and finish in February. Possible delays of 10 minutes.
SH50 sites underway or starting this month
Watson’s South road rebuild continues and is expected to finish in February. Possible delays of 5 minutes.
Sections of SH50 between Ongaonga and Takapau will be under stop/go traffic management from Monday 27 January to Friday 31 January, 6am to 6pm each day. Crews will be installing rumble strips. Possible delays of 5 minutes.
Night works, full closure: Resealing between Korokipo Road and Franklin Road on Friday 24 and Saturday 25 January. Road closed from Pākōwhai Road/Links Road to Korokipo Road from 8pm to 5am each night. Light vehicle detour available.
The resealing works planned for Monday 27 January to Friday 31 January along sections of SH50 between Ngaruroro River Bridge at Omahu/Fernhill and Omarunui Road, have been rescheduled to the following week (Monday 3 February to Friday 7 February). That work will take place during the day between 7am and 5pm. Please expect delays of up to 10 minutes to journey times as sections of the road will be under stop/go traffic management.
Smoother journeys are coming for motorists through Waharoa, with resealing works getting underway in early February for essential maintenance of State Highway 27 (SH27).
NZ Transport Agency Waka Kotahi (NZTA) Waikato System Manager, Andy Oakley, says the section of state highway outside the Matamata Aero Club needs attention.
”We’re completing the reseal work in 2 stages. It includes 4 weeks of daily road closures to allow work to be carried out safely and efficiently.
“Stage 1 entails 5 days of stop/go traffic management, between 6am and 6pm, from Tuesday 28 January to Saturday 1 February. People can expect delays of up to 20 minutes while this work is underway. Outside of this time, both lanes of the road will reopen.
“Stage 2 requires the road to be fully closed for 4 weeks, between Monday 3 and Friday 21 February, so we can complete the repair and reseal on SH27.
“We want to upgrade this road as quickly as we can and using full closures allows us to do this. We appreciate this will cause some disruption, but it will result in a better roading network for everyone to enjoy,” says Mr Oakley.
While the road is closed, the following detour routes are available and add approximately 13 minutes to journey times:
Northbound
Traffic on SH27, turn right onto Wardville Road, turn left onto Alexandra Road, turn left onto Diagonal Road towards SH27 where the detour ends.
Southbound
Southbound traffic on Walton and Wairere Roads, turn left onto SH27, turn right onto Diagonal Road, turnright onto Alexandra Road, turn right onto Wardville Road and proceed towards SH27 where the detour ends.
Southbound traffic on Kereone Road, proceed onto Diagonal Road, turn right onto Alexandra
Road, turn right onto Wardville Road and proceed towards SH27 where the detour ends.
Southbound traffic on SH27, turn left onto Diagonal Road, turn right onto Alexandra Road, turn
right onto Wardville Road and proceed towards SH27 where the detour ends.
Heavy vehicles please follow the instructions on the VMS boards. The HPMV detour will add approximately 75 minutes to journey times.
“The state highway network plays a critical role in New Zealanders lives, and we want to make sure it is up to the standard people expect.
“We’d like to thank people for their patience while this important maintenance work is carried out.
“The works are weather dependent and if you’re travelling through the area, make sure to plan ahead and check Journey Planner,” says Mr Oakley.
Increased maintenance and resilience are a priority for the government and this work forms part of the government’s $2.07 billion investment into road and drainage renewal and maintenance across 2024-27 via the State Highway Pothole Prevention fund
San Francisco, Jan. 22, 2025 (GLOBE NEWSWIRE) — San Francisco, California –
EarlyBirds, a leading global open innovation ecosystem, is proud to announce that its Cofounder and CEO, Kris Poria, will be speaking at Avalon 2025 – The Australian International Airshow, the premier aviation, aerospace, and defense event in the Southern Hemisphere. Taking place on March 26-27, 2025, this globally recognized event brings together industry professionals, government representatives, and thought leaders to address critical challenges and explore emerging opportunities in the aerospace sector.
Kris Poria, a Top Technological Innovation Voice on LinkedIn, will present on “Horizon Scanning for Aerospace: Staying Ahead of Emerging Technologies and Threats.” This insightful session will focus on how aerospace and defense organizations can proactively monitor technological advancements and industry trends to enhance national security, optimize operational capabilities, and maintain a competitive edge in a rapidly evolving landscape.
Staying ahead in aerospace requires more than just adapting to change; it demands proactive engagement with emerging technologies and disruptive innovations. EarlyBirds provides the strategic tools and intelligence needed to anticipate challenges and seize new opportunities, says Kris Poria. The company’s approach is designed to empower organizations with real-time insights that enable them to respond effectively to the dynamic challenges posed by the rapidly evolving aerospace industry.
The presentation aligns closely with the evolving strategic priorities of the United States’ new administration, which has placed a renewed emphasis on the space sector as a cornerstone of national security and economic growth. As aerospace and defense sectors witness heightened interest in space exploration, EarlyBirds’ capability to map innovation ecosystems and track technological developments is more relevant than ever. The increasing reliance on space-based technologies for defense, communications, and intelligence purposes underscores the need for organizations to stay ahead of emerging trends.
EarlyBirds has been at the forefront of enabling aerospace and defense organizations to navigate the complexities of technological innovation. Through its advanced Ecosystem Maps and Challenger Program, EarlyBirds empowers organizations to gain real-time insights into disruptive technologies, identify and engage with innovators and subject matter experts, develop strategies to integrate emerging capabilities into their operations, and achieve speed-to-market by rapidly deploying Minimum Viable Capabilities (MVCs).
Our goal at EarlyBirds is to foster a culture of proactive innovation that helps aerospace leaders not just respond to changes but actively shape the future, adds Jeff Penrose, COO of EarlyBirds. By leveraging our global network of over five million innovators, we bridge the gap between operational challenges and technological solutions. The company’s innovative approach helps organizations move beyond traditional procurement processes, enabling them to adopt agile strategies that prioritize flexibility and responsiveness.
As the aerospace sector continues to evolve, organizations are under increasing pressure to balance operational efficiency with sustainability goals. EarlyBirds provides valuable insights into sustainable technologies that can help companies reduce their environmental impact while maintaining competitiveness. By partnering with EarlyBirds, organizations can explore a wide range of sustainable solutions, from energy-efficient propulsion systems to advanced materials that enhance performance and durability.
EarlyBirds invites aerospace and defense professionals attending Avalon 2025 to join the discussion and explore how horizon scanning can enhance their strategic planning. Connect with EarlyBirds at the event to discover how our platform can support your innovation journey. The event provides an excellent opportunity for industry professionals to engage with thought leaders, gain valuable insights, and explore collaborative opportunities that can drive future growth and development.
For more information, visit https://earlybirds.io and follow our updates leading up to the event.
About EarlyBirds: EarlyBirds is an award-winning open innovation ecosystem that enables businesses and government organizations to collaborate with innovators, scale-ups, and startups to address strategic and operational challenges. Recognized as the ‘Global Open Innovation Platform of the Year,’ EarlyBirds empowers organizations to drive innovation, improve sustainability, and accelerate the adoption of emerging technologies across various industries, including defense, aerospace, energy, and sustainability.
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For more information about EarlyBirds, contact the company here:
EarlyBirds Mr Kris Poria support@earlybirds.io EarlyBirds USA Inc., 548 Market St, San Francisco, CA 94104 USA
HONG KONG SAR – Media OutReach Newswire – 22 January 2025 – Yeebo (International Holdings) Limited (“Yeebo” or the “Company”, stock code: 259, which together with its subsidiaries is referred to as the “Group”) announced that the board of directors of the Company (the “Board”) resolved to declare a special dividend of HKD1.8 per share today.
The Board declared a special dividend following the Group’s disposal of 127,578,590 shares of Nantong Jianghai (stock code: 002484.SZ), representing approximately 15% of Nantong Jianghai’s issued shares. After the transaction, Yeebo stays on as a strategic shareholder with a substantial 13.81% stake and continues confidence in Nantong Jianghai’s robust growth prospects. As at 22 January 2025, the closing price of Nantong Jianghai was RMB26.77 per share, and the market value of the Group’s interest in Nantong Jianghai was approximately RMB3.1 billion.
The disposal generated net proceeds of approximately HK$2.2 billion, which will enhance Yeebo’s financial strength and catalyze further business expansion and development. The special dividend will be payable on or around 24 February 2025, to the shareholders of the Company whose names appear on the register of members of the Company on 12 February 2025.
Mr. Douglas Fang, Chairman of Yeebo, said, “We are delighted to announce the completion of this transaction and the distribution of a special dividend to our shareholders. This reaffirms our dedication to value creation and the commitment to rewarding our shareholders for their ongoing support. By maintaining a strategic stake in Nantong Jianghai, we anticipate continued benefits from its future growth, delivering even greater rewards to our shareholders.
“We will also use some of the proceeds to further develop our core business. Over the past 18 months, we have also expanded into the field of artificial intelligence (AI) and AI compute, making significant strides in this emerging high-growth area. This advancement will drive future growth and long-term development.”
Hashtag: #Yeebo
The issuer is solely responsible for the content of this announcement.
-Medical trend rates in the APAC region rank second-highest globally, according to report
SINGAPORE – Media OutReach Newswire – 22 January 2025 – Aon plc (NYSE: AON), a leading global professional services firm, has released its 2025 Global Medical Trend Rates Report. The report forecasts a projected 11.1 percent rise in the Asia Pacific region (APAC), which is higher than the global projected increase for 2024 of 9.7 percent, which represented the highest increase forecasted in 10 years.
Trend rate figures represent the percentage increase in medical plan costs per employee – both insured and self-insured. Knowing estimated costs in advance can help organisations budget and adjust their benefits philosophy in response, ensuring programs are sustainable.
This year’s report projects APAC will experience the second highest year-over-year trend rate increase after the Middle East and Africa, which has the highest trend rate of any region at 15.5 percent.
Forecasted Medical Trend Rate from 2024 to 2025
2024
2025
Asia Pacific
9.7%
11.1%
Global
10.1%
10.0%
Europe
10.4%
8.9%
North America
7.6%
8.8%
Latin America and Caribbean
11.7%
10.7%
Middle East and Africa
15.1%
15.5%
“The biggest rise in medical utilisation and inflation are now behind us in APAC, but recovery in insurer profitability is expected to keep medical trend rates in the double digits for 2025 and 2026,” said Alan Oates, head of global benefits for Asia Pacific at Aon.
“The high medical trend rate can also be attributed to a higher incidence of cancer and chronic conditions than before the COVID-19 pandemic. Managing the impact of medical inflation therefore should be a top priority for all southeast Asia markets and especially important in New Zealand, Papua New Guinea, Thailand and Vietnam, which are seeing 50 to over 100 percent increases compared to last year,” Oates explained.
The survey further revealed that prescription and specialty medications, including weight loss medication, innovations in medical technology, and geopolitical factors, are significantly impacting medical trend rates in APAC and around the world. In addition, support for emotional health as the fastest-growing claim in Aon’s APAC client portfolio, wellbeing initiatives designed to mitigate stress, along with other plan enhancements, are also contributing to the double-digit medical trend.
“Although most insurers are still raising premiums, we are seeing a slight drop in some markets where risk appetites are returning among insurance providers that were quick to take corrective measures in previous renewal periods. As these insurance providers can now offer competitive pricing terms, we are encouraging clients to test the market as there is increasing value in doing so,” said Marina Sukhikh, professional services industry practice leader, global benefits for Asia Pacific at Aon.
How are Companies Addressing Rising Costs? Wellbeing programs, plan design changes, alternative financing, data and analytics and flexible benefits are among the top strategies employers are expected to undertake in 2025 to affordably promote a healthy workforce.
Sukhikh said, “Aon has observed growing co-investment in wellbeing initiatives by employers and insurers. Greater investment is being matched with greater scrutiny into investment return, and wellbeing programs are increasingly being integrated and aligned with prevention strategies. For example, more initiatives are targeting physical inactivity, poor stress management, hypertension, high cholesterol and other risk factors driving chronic conditions that lead to adverse future claims.”
“We are encouraging clients to seek a more integrated value-based outcome from insurers where they are cooperating in the sharing of data, investment in wellbeing and offering creative solutions for design and financing. Sophisticated analytics tools, such as Aon’s Health Risk Analyzer, are helping companies leverage a growing volume of multi-source data, not just to identify and mitigate today’s risks but to accurately predict and prepare for the risks of tomorrow. Technology is helping us identify under-served populations and anticipate opportunities faster than ever,” added Sukhikh.
According to Aon’s 2024 Global Benefits Trends Study, employers in around 60 percent of countries are expected to use flexible benefit plans to address diverse workforce needs while controlling overall benefit costs. Meanwhile, one in three are actively considering alternative benefits financing arrangements, such as multinational pooling, global underwriting and captives.
“More than at any point in the last 10 years we have observed employers taking steps to reduce plan design due to affordability. Flexibility and choice have been a valuable tool in design change because employees generally place a greater value on shorter-term flexibility and choice than they do on longer-term core benefits. Alternative funding will not materially reduce cost, which is generally determined by claims and scale, but it can smooth cost volatility over a longer period than is possible with direct insurance and that is helpful in this volatile market,” Oates added.
Read Aon’s 2025 Global Medical Trend Rates Report.
About the report: The report is based on insights from 112 Aon offices that broker, administer, or advise on employer-sponsored medical plans in each of the countries covered in the report. The findings reflect the medical trend expectations of Aon professionals based on their interactions with clients and carriers represented in the portfolio of the firm’s medical plan business in each location.
As employer-sponsored medical plans become a larger part of total rewards spend and pressure mounts to accurately forecast and manage costs, this report is a valuable resource for organisations to plan global budgets and benefits strategies for 2025 and beyond.
Read Aon’s 2025 Global Medical Trend Rates Report.
Hashtag: #Aon
The issuer is solely responsible for the content of this announcement.
HANOI, VIETNAM – Media OutReach Newswire – 22 January 2025 – V-GREEN has signed a Memorandum of Understanding (MoU) with eTreego, a Taiwanese green energy company, to significantly expand VinFast electric vehicle charging station infrastructure. This partnership aims to install 100,000 charging portals in VinFast’s three key Southeast Asian markets, Indonesia, the Philippines and Vietnam, underscoring V-GREEN’s commitment to building a comprehensive electric vehicle ecosystem and meet the growing demand for green transformation across Southeast Asia.
Mr. Nguyễn Thành Dương, CEO of V-GREEN (6th from the left), and Mr. Chin Pin Chien, Chairman of eTreego (7th from the left).
Both parties will actively research and work towards strategic goals, including building and operating 100,000 franchised charging portals for VinFast electric vehicles by 2030. Specifically, in the second quarter of 2025, eTreego will deploy 200 pilot charging portals in Vietnam, before expanding into VinFast’s two key international markets: Indonesia and the Philippines.
According to the MoU, eTreego will be the charging station product supplier for V-GREEN. Furthermore, eTreego agrees to lease designated locations and facilitate introductions to potential partner sites in key areas for the development and expansion of V-GREEN’s charging station network.
Both parties will also actively work to promote other green initiatives, including developing a Carbon Credit Certification project for V-GREEN’s charging stations.
Additionally, the two Companies will explore collaborative opportunities to expand VinFast’s electric vehicle supply chain and enter new international markets, seizing the significant opportunities in the global green transportation sector.
Partnering with eTreego is a strategic move by V-GREEN, established by VinFast founder Pham Nhat Vuong, to accelerate its global expansion and solidify its position as a frontrunner in sustainable mobility solutions. This collaboration will significantly enhance V-GREEN’s growing network of VinFast electric vehicle charging stations across the region, reinforcing its commitment to building a world-class green infrastructure.
Leveraging its extensive expertise and commitment to sustainable solutions, eTreego recognizes the immense growth opportunities presented by the Southeast Asian EV market, particularly within VinFast’s electric vehicle ecosystem.
Mr. Chin Pin Chien, Chairman of ETreego Co., Ltd, highlighted, “eTreego highly appreciates the growth potential of the electric vehicle market in Vietnam and Southeast Asia. In the future, we will increase investment in research and development to provide the necessary products, services, and technical support for VinFast electric vehicle ecosystem. The collaboration between eTreego and V-GREEN will support VinFast’s increasingly sustainable transportation network, meeting the strong demand for green transformation in Southeast Asia.”
Mr. Nguyen Thanh Duong, CEO of V-GREEN, remarked, “We are confident that eTreego’s global reputation, expertise, and experience will be invaluable in scaling up V-GREEN’s charging infrastructure. By joining forces, eTreego and V-GREEN will contribute to building a comprehensive VinFast electric vehicle ecosystem, delivering exceptional value to both companies, consumers, and driving the global green transportation revolution.”
Indonesia and the Philippines have been identified as key markets for V-GREEN’s international expansion. In a significant milestone, V-GREEN has recently inked a Memorandum of Understanding with the diversified Prime Group to deploy approximately 100,000 VinFast electric vehicle charging stations across Indonesia within three years, with a projected total investment of up to USD 1.2 billion.
V-GREEN’s charging stations will form the backbone of VinFast’s growing green transportation ecosystem across Southeast Asia. In Indonesia and the Philippines, VinFast has delivered a diverse range of smart, modern electric vehicles, introduced pioneering sales and after-sales policies. By continuously expanding its dealer network, VinFast is committed to providing customers in the region with high-quality vehicles, inclusive pricing and excellent after-sales policy.
https://vinfastauto.com/
Hashtag: #Vingroup
The issuer is solely responsible for the content of this announcement.
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 22 January 2025 – The U.S. dollar has been appreciating almost relentlessly since the end of September. In just three and a half months, the Dollar Index (DXY), which measures the value of the greenback relative to a basket of six major foreign currencies, including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc, was up more than 10% (from 27 September low to 13 January high). On 13 January, it breached the critical 110.00 level and although it has since declined slightly, it remains by far the best-performing currency among other major currencies this year so far.
‘The reasons for such an impressive rally are plentiful and diverse, but generally it all boils down to the widening interest rate differentials between the United States and other major economies’, says Kar Yong Ang, a financial market analyst at Octa Broker. Indeed, the Federal Reserve (Fed), the U.S. central bank, currently maintains its benchmark interest rate in the range of 4.25-4.50%, which is the second highest level among eight industrialized economies. Most importantly, however, unlike most other central banks, the Fed is not expected to cut the rates aggressively in 2025 as the U.S. economy continues to demonstrate striking resilience, marked by robust labour market data and strong consumer spending. In addition, geopolitical uncertainty and the risk of trade wars have fuelled safe-haven demand for the U.S. dollar. In fact, the election of Donald Trump as the next U.S. president largely served as a catalyst for the recent rally in the U.S. dollar.
‘It was always assumed that Donald Trump’s victory in the presidential race would be bullish for the U.S. dollar as his trade and immigration policies were viewed as inflationary. Therefore, the market started to price in that outcome well in advance and the dollar began its ascent one month before the election’, says Kar Yong Ang, a financial market analyst at Octa Broker. Specifically, Trump has explicitly threatened to impose trade tariffs on Eurozone and Canada, which clearly had a bearish impact on their currencies. For example, the Euro, which has a dominant 58% weight in the DXY, has lost more than 8% against the U.S. dollar since 25 September 2024. The biggest losers, however, have been risk-sensitive currencies such as the Australian dollar (AUD) and the New Zealand dollar (NZD) (see the chart below) both of which devalued by more than 10%.
Major Currencies Performance Since October 2024
Source: Octa Broker calculations
To put it simply, the U.S. dollar is rising because of fear that Trump’s policies might spur inflation at best and trigger an all-out trade war at worst. In addition, the U.S. economy is outperforming most of its peers so the Fed is highly likely to ease its monetary policy at a much slower pace compared to other countries. Indeed, a recent Bloomberg survey forecasts a modest 1% growth for the Euro Area this year, slightly better than the 0.8% projected for 2024 but well below the long-term average of 1.4%. It is no surprise that the market continues to expect three or four 25-basis point rate cuts by the European Central Bank (ECB) in 2025 compared with just one or two by the Fed over the same period. In these circumstances, it is hard to expect EURUSD to rebound substantially from its recent lows. ‘I think there is more than a 50% chance that EURUSD will decline towards parity at some point this year and may even temporarily drop below the 1.0000 mark’, comments Kar Yong Ang, adding that Eurozone faces a number of structural challenges ranging from high energy costs and deindustrialization to geopolitical tensions and fiscal instability.
As for the DXY, its rally has started to show some signs of exhaustion lately. Technically, there is a bearish divergence between the DXY price and the Relative Strength Index (RSI). Furthermore, fundamentally, a lot of bullish factors have been already priced in and bulls lack new impulses for the next move higher. ‘I think the market has overly priced in all the dollar-related positives and the greenback actually looks slightly overvalued at this point. I think betting on its continuing appreciation is risky’, says Kar Yong Ang. Indeed, in some respect, the market has factored in a less likely scenario—i.e., that Donald Trump will impose blanket tariffs and destabilize global trade. While such a scenario is certainly possible its probability is relatively low. For example, Bloomberg reported that the U.S. could take a measured approach towards tariffs. ‘The market is forward-looking. Just like it started to price in Trump’s victory well before the elections, so it may now begin to price out the underlying bullish expectations and anticipate a downturn in a classical “buy the rumour sell the news” fashion’, concludes Kar Yong Ang, a financial market analyst at Octa Broker.
Hashtag: #Octa
The issuer is solely responsible for the content of this announcement.
HONG KONG SAR – Media OutReach Newswire – 22 January 2025 – The annual flagship event in the innovation and technology (I&T) sector, the Hong Kong Techathon+ 2025, co-organised by the Hong Kong Science and Technology Parks Corporation (HKSTP) and local higher education institutions, has successfully concluded on 19 January. This year’s event reached a new record in participation, attracting over 1,800 local and international talents in I&T, forming over 380 teams.
Co-organised by HKSTP and local higher education institutions, the Hong Kong Techathon+ 2025, an annual intercollegiate I&T event, reached a new record in participation this year, attracting over 1,800 local and international talents in I&T, forming over 380 teams.
The participants included more than 100 non-local innovators and 40 teams from the mainland China, the US, Malaysia, Thailand, Singapore, Taiwan, Macao, Australia, Portugal, and Brazil, who travelled to Hong Kong specifically to compete in this prestigious contest for 10 Gold Awards and the New Innovation Award under four themes, namely Trusted AI and & Data Science, Sustainability and Environment, Social and Governance (ESG, Digital Economy and Smart Cities. Finally, the team “Eleuto” from The Hong Kong University of Science and Technology won the Gold Award in the category of Sustainability and ESG under the Local University Student Group as well as the New Innovation Award by creating a communication solution for the paralyzed who are unable to speak or type.
Now in its ninth year, the Hong Kong Techathon+ aims to build a global, intercollegiate platform that connects I&T talents and startups from both local and international backgrounds. The event promotes mutual learning and exchange among these talents and startups, deepens their understanding of Hong Kong’s I&T ecosystem, and provide opportunities to international innovators and teams to develop their projects in Hong Kong and eventually join the city’s I&T ecosystem.
Offering More I&T Opportunities for Overseas Talent and Startups The Hong Kong Techathon+ event, co-organised by HKSTP and 13 local tertiary institutions, featured 10 returning universities from last year: City University of Hong Kong, Hong Kong Baptist University, Hong Kong Metropolitan University, Lingnan University, The Chinese University of Hong Kong, The Education University of Hong Kong, The Hang Seng University of Hong Kong, The Hong Kong Polytechnic University, The Hong Kong University of Science and Technology, and The University of Hong Kong. Additionally, this year welcomed three institutes under the Vocational Training Council – Technological and Higher Education Institute of Hong Kong, Hong Kong Institute of Vocational Education, and Hong Kong Institute of Information Technology. The event also has 18 overseas partnering institutions supporting the recruitment of overseas contestants.
This year marks the second consecutive edition of the Hong Kong Techathon+ with participation from non-local tech startups. Representatives from leading international institutions, including the University of California, San Diego from the US, National University of Singapore, Chulalongkorn University in Thailand, and the University of Queensland in Australia, took part in the competition. Additionally, HKSTP specially arranged a five-day immersive programme, including a variety of tours and lectures for the non-local tech startups participating in the competition. These included a visit to the Hong Kong Science Park Shenzhen Branch, aimed at deepening their understanding of the I&T ecosystems in Hong Kong and the Greater Bay Area. Meetings with investors were arranged before the competition for the non-local teams. Experienced mentors from relevant sectors also provided guidance to the contestants.
Albert Wong, CEO of HKSTP, said during the opening ceremony, “For many years, HKSTP has been relentlessly promoting the development of I&T in Hong Kong. This year, the Hong Kong Techathon+ 2025 has expanded its network of partners both locally and internationally, attracting an even greater number of I&T talents and startups from the city and beyond. Through this competition, participants can learn from one another and inspire each other’s creativity. I wholeheartedly wish all the outstanding teams success as they pursue their dreams of innovation and harness technology to create a positive impact on the world.”
Over 100 Teams Compete for HK$10 Million in Seed Funding Across Four Major Themes During the finale, competing teams developed innovative and feasible solutions within four major themes: “Trusted AI & Data Science”, “Sustainability & ESG”, “Digital Economy” and “Smart Cities”. The competition included both local and non-local tracks for university teams respectively. For local tracks it further divided into student and open groups. In addition to receiving a cash prize of HK$10,000, the gold medal winners of each category also competed on site for the New Innovation Award with a prize of HK$100,000.
All winning teams will receive initial startup capital as well as eligibility for various incubation support programmes from co-organisers and partners* including direct admission into HKSTP’s Ideation Programme and have chance to get access to over HK$10 million in seed funding, where they will further develop their innovative ideas with comprehensive entrepreneurial support and gain practical experience to help them evolve into the next generation of I&T entrepreneurs.
Amazon Web Services (AWS) is Hong Kong Techathon+ 2025’s exclusive tech enabler. Robert Wang, Managing Director, Hong Kong & Taiwan, AWS, said, “AWS has been committed to providing leading technologies and platforms for startups since day 1. Our long-term collaboration with HKSTP through co-development programme has led to many successful projects in the areas of cloud and artificial intelligence (AI). This year, we are pleased to be the exclusive technology enabler for Hong Kong Techathon+ 2025. Through our leading expertise and technology in cloud and AI, combined with the efforts of HKSTP in nurturing creativity and innovative talent, we will continue to contribute to building a thriving innovation and technology ecosystem in Hong Kong.”
*Subject to the admission criteria of respective programmes
List of Awardees of the HK Techathon+ 2025:
New Innovation Award Winning Team: Eleuto Tertiary Institution: The Hong Kong University of Science and Technology
Local Student Group
Technology Theme
Award
Winning Team
Tertiary Institution
Trusted AI & Data Science
Gold
Cofluence
The Hong Kong University of Science and Technology
Sustainability & ESG
Gold
Eleuto
The Hong Kong University of Science and Technology
Digital Economy
Gold
AIVOICE LIMITED
The Hong Kong University of Science and Technology
Smart Cities
Gold
ReTouch
The Chinese University of Hong Kong
Local Open Group
Technology Theme
Award
Winning Team
Tertiary Institution
Trusted AI & Data Science
Gold
EmoFriends
The Hong Kong Polytechnic University
Sustainability & ESG
Gold
JAPJAP – zero food waste
The Hong Kong Polytechnic University
Digital Economy
Gold
i Vision
The Education University of Hong Kong
Smart Cities
Gold
Edge AI-assisted health monitoring system based on optical fiber sensor
The Hong Kong Polytechnic University
Non-local Group
Technology Theme
Award
Winning Team
Tertiary Institution
AI & Digital Economy
Gold
DeepChem Automatic Intelligent Synthesis Platform
Beihang University
(participate the Techathon+ via the
International Strategic Technology Alliance)
Sustainability & Smart Cities
Gold
Spatiotemporal integrated eDNA high-resolution intelligent monitoring of biodiversity
Nanjing University (participate the Techathon+ via the
International Strategic Technology Alliance)
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