AGP Executive Report

NZX & Corporate Moves: New Zealand shares edged lower as Auckland Airport’s cautious outlook weighed, while several firms rallied on earnings broadly in line with expectations, including Spark, Skellerup, SkyCity, Heartland and Seeka; M&A in Health Research: Advent International agreed to buy a majority stake in New Zealand Clinical Research Group, valuing it at about $1b with Waterman Capital keeping a minority; Medical Cannabis Supply: Tilray lifted global medical cannabis cultivation capacity to about 275 metric tonnes, expanding output in Quebec and Portugal to meet international demand; Manufacturing Export Push: South Auckland aluminium can maker Recorp expanded into Australia, supplying beverage brands from its Manukau plant; Energy Records: Solar generation rose 66% in 2025 to a record high, with geothermal also hitting a record and renewables reaching 47.7% of supply; Construction & Materials Innovation: Neocrete raised US$3.5m to scale low-carbon concrete additives after commercial deployment in Brunei; Immigration & Skills: NZ published the trades and technician occupations eligible for a new SMC Resident Visa pathway from Aug 24, 2026; Banking Deal Watch: A court reserved its decision on an injunction to block the proposed TSB–Heartland amalgamation, with a ruling expected early next week.

Auckland Transport: The NZ Transport Agency has published a new Auckland Motorway Strategic Plan, aiming to squeeze more capacity from the existing network with smarter traffic management, faster crash responses, small upgrades and time-of-use charging. Māori Capital & Logistics: Cardinal Logistics has been sold to a consortium of long-term NZ investors including multiple iwi commercial entities, marking a new ownership era for the supply-chain business. Consumer Protection: The Financial Markets Authority flags recurring gaps in how add-on insurance and extended warranties are sold and monitored, saying insurers can’t outsource responsibility for fair outcomes. Retail Distress: Retail insolvencies jumped 74% in Q2 as pressure shifts from construction to the shop floor, with households staying cautious on discretionary spending. Agriculture & Food: Pāmu reports its strongest FY26 result on record, while NZVeg backs government action to restore confidence for vegetable growers in key regions. Energy & Infrastructure: Infrastructure New Zealand kicks off Building Nations 2026 in Christchurch, arguing NZ needs a national economic ambition to guide long-term infrastructure choices. Tertiary Reform: NZQA seeks feedback on a new iQAF-style rating approach for non-university providers, moving beyond simple compliance. Tech & Payments: Spark says mobile service revenue is back in growth under its SPK-30 strategy, and Jamf launches native AI governance controls for managed Mac fleets across Australia and NZ. Climate Risk: The Climate Change Commission warns NZ isn’t adapting fast enough, with most hazard spending still going to responding after disasters rather than reducing future risk.

NZX & Corporate Watch: New Zealand’s NZX 50 climbed for a second day, led by strength in Ebos Group and Fletcher Building, while the market also digested updates from My Food Bag and a leadership change at NZX itself. Construction & Finance: Fletcher Building says it has offloaded its troubled construction division to VINCI Construction, framing the sale as a major distraction-reducer for the group. Urban Planning & Housing Supply: The Government is creating an “independent economic umpire” via an Urban Land Market Officer to push councils toward more competitive zoning for apartments, townhouses and industry. Payments & Productivity: The RBNZ argues modern payments should be treated like core infrastructure, with potential economy-wide gains from faster, more competitive systems. Energy Transition: Mercury has reached a final decision on the 192MW Puke Kapo Hau wind farm expansion, while JA and Fisher & Paykel Healthcare are rolling out a large rooftop solar project in Auckland. Tech & Disruption: Google Workspace is reporting service slowness in NZ/Australia, and the RBNZ is pressing ahead with retail payments modernisation. Transport & Trade: BYD NZ is set for its biggest-ever monthly shipment, using coastal shipping to clear backlog and bring new Atto 2 plug-in hybrid and Atto 3 Evo models. Health & Research: Medicines New Zealand recognised phage therapy and innovative medicines research at its 2026 awards.

Climate & Courts: Parliament has voted 67–53 to bar climate change damages claims against companies, ending the Mike Smith v Fonterra case path and locking in a new tort liability rule. Energy Costs: Energy and Commerce ministers say power bills are being driven by electricity network costs, urging distribution companies to help make power more affordable. Payments Modernisation: The Reserve Bank says upgrading New Zealand’s retail payments could lift the economy by $700m–$1.3b a year, arguing the current system is reliable but behind global best practice. Food Safety: Food Standards Australia and New Zealand issued recalls for Mr Chen’s Szechuan Chilli Oil (undeclared peanuts) and Walter’s banana loaf (labelling issue). Primary Industries: Dairy prices rose at Global Dairy Trade, while Zespri says the kiwifruit season is on track and Bay of Plenty orchard confidence is returning. Trade & Ports: Auckland launched a 10-year cruise plan aimed at winning more turnaround visits as ship calls keep falling. Capital Markets: NZX has appointed Hishaam Mirza as its next chief executive, starting 14 September. Aged Care: Hato Hone St John welcomed recommendations to strengthen care at home and reduce avoidable hospital transfers. Animal Welfare: SAFE launched a campaign to end factory farming in Aotearoa, backed by a public petition. Tech & Youth: OpenAI rolled out ChatGPT for Teens with safeguards, including reminders that AI isn’t human. Insurance Education: Banqer says students who get caught uninsured in its simulation take out cover at more than twice the rate of those never caught.

Energy & Markets: Mercury Energy says residential power price rises will stay at or below CPI as it reports record results, while NZX sentiment gets a lift from strong hydro and renewables; Corporate Governance: Spark appoints Vince Hawksworth as chair, and The Works faces another boardroom fight over “in-person engagement”; Food & Agriculture: A new $1.5m Poultry Biosecurity Grant opens for bird-proofing sheds ahead of H5 bird flu risk, and Zespri is tracking well through its global sales push; Aquaculture: Ngāi Tahu Seafood’s Hananui salmon farm is the first aquaculture project approved under NZ’s fast-track process; Infrastructure & Transport: Vector and Mercury updates underline ongoing network and generation investment; Local Business: Stationery maker Candida is considering closing NZ manufacturing, putting 100+ jobs at risk; Logistics & Iwi: An iwi-backed group buys Cardinal Logistics, signalling more Māori investment in transport and supply chains.

Payments Modernisation: The RBNZ has been endorsed by the Finance Minister to lead a strategy to modernise New Zealand’s payments system, with feedback sought on key issues and workstreams aimed at faster, more innovative retail payments. Energy & Solar Rules: Government agrees to legalise plug-in solar, but won’t yet say when the ban lifts; separately, new Electricity Authority requirements will push power companies to check customers are on the best plans and limit “bill shock” catch-ups to six months. Electricity Networks: Vector reports revenue up 12% to $1b and record Auckland network investment of $512m, while Mercury rebounds on strong hydro and lifts its dividend. Data Centres & AI Power: Datagrid begins “horizontal construction” for its Southland AI data centre campus, with earthworks underway after earlier grid and substation moves. Biosecurity & Farming: A new $1.5m poultry biosecurity grant will reimburse eligible operators up to 50% (max $25k) to prepare for possible H5 bird flu. Food & Consumer Safety: Consumer NZ says a Christchurch family won a Disputes Tribunal order for Kmart to reimburse $15k+ after play sand was found to contain tremolite asbestos. Ports & Freight: Lyttelton Port commits $821m to a new deepwater wharf and container terminal, targeting major capacity gains from 2031. Local Governance & Law: Rotorua Lakes Council was ruled to have acted unlawfully over sewerage works near sacred Lake Rotokākahi.

NZX Market Watch: New Zealand’s S&P/NZX 50 slid about 1% as A2 Milk dragged on weak China sales and Freightways disappointed despite meeting expectations, while retailers stayed softer after spending data and the kiwi held up on a softer inflation read. Healthcare Accountability: A tetraplegic man was left alone for more than 12 hours after Healthcare NZ failed to provide 24-hour support, with the Health and Disability Commissioner finding the service fell short. Construction & Tourism: EVT Hotels and Resorts has started building a new Rydges in Tauranga (158 rooms, plus conference space), betting on port-linked demand. Energy & Infrastructure Skills: GHD appointed Andrew Jackson as regional general manager for New Zealand Pacific, pointing to major work in resilience, energy transition and water transport. Clean Tech IPO: Palmerston North solar robotics firm SunScout raised $15.5m via an IPO, planning a manufacturing plant in Austin. Forestry Governance: Gisborne forestry slash and sediment rules are being reset after the government said the council’s approach was too tough, with a facilitator appointed. Food & Retail Pressure: A2 Milk’s profit fell 44% on China disruptions, while supermarkets and retailers face ongoing cost-of-living and security pressures.

Dairy Earnings Shock: a2 Milk’s full-year profit fell 44% after China-label infant formula shortages forced customers to switch brands, though stock levels are now improving and recovery is expected through 2027. Housing & Construction: Housing and Infrastructure Minister Chris Bishop says there’s no legal way to pause fast-track housing, while engineers warn Standards NZ’s draft building standard process is making it harder to review and could hit the construction sector. Property Market Pressure: More homes are selling for a loss, with 13.1% of resales loss-making in the latest quarter—investors hit hardest—signalling ongoing strain for buyers and sellers. Energy Transition Pipeline: Meridian has consent to build a 110MW solar farm near Morrinsville, adding up to 200GWh a year, as Northland’s renewable growth faces bottlenecks but keeps building momentum. Tech & Capital: A Dealroom report puts New Zealand’s venture-backed enterprise value at NZ$133b, but raises the question of whether the country can retain more of the economic upside. Policy & Public Services: ACT’s push to remove “good employer” requirements from the public service is drawing fire from unions, while the ombudsman ruling on withheld LNG modelling adds pressure to improve transparency around energy projects. Workforce & Skills: Netball NZ faces a potential player exodus as domestic league uncertainty pushes talent offshore, and a separate overseas report highlights how tech-heavy vehicles are worsening technician shortages.

Addiction Support Tech: Waikato DHB will trial New Zealand’s first smartphone app for people recovering from alcohol or other drug issues, aiming to keep people connected to clinicians and recovery supports 24/7. Auckland Heritage Uncovered: St James Theatre’s original 1928 Spanish Mission tower has been revealed again on Queen Street after more than 70 years hidden behind cladding, with restoration work set to continue. Transport & Infrastructure: The public got its first look inside Auckland’s City Rail Link Karanga-a-Hape Station ahead of the September 13 opening, part of a decade-long build. Energy Cost Relief (Fiji/NZ partnership): Kadavu’s Vunisea power station has commissioned a solar hybrid system, cutting diesel use by about 8,000 litres a month and saving roughly $336,000 a year. Travel Retail Spirits: Strange Nature has signed SipWell as its European travel retail distribution partner, pushing its NZ-made alcohol-free wine and gin into duty-free channels. Policy & Governance: An Auckland academic argues for structural regulation to rein in big tech platform power, while ACT and Opportunity Party proposals keep heating up the debate over public service rules and political influence.

Conservation Protest: Thousands of New Zealanders rallied nationwide to demand the Coalition Government “keep its hands off” public conservation land, targeting the Conservation Amendment Bill as a threat to nature protection and wildlife. Energy Policy Clash: New Zealand’s fast-track approvals delivered a split message: a Taranaki onshore petroleum mining permit for the Puka field approved, while Genesis’ Foxton solar farm cleared the fast-track process, approved as a major renewable boost. LNG vs Renewables: Labour escalated the energy fight over an imported LNG terminal, arguing new expert modelling shows low need for LNG and warning it could lock the country into costly fossil-fuel exposure instead of accelerating renewables and dry-year security options. Curriculum Reset: The national curriculum overhaul is sparking pushback from teachers over workload and pace, with concerns also raised about how mātauranga Māori, Te Tiriti obligations, local histories and climate change are being handled. Climate Court Fight: The Mike Smith v Fonterra case is framed as a major climate accountability showdown, with the Government seeking legal changes that would limit what courts can ultimately decide. Food & Consumer Trust: A survey found big gaps between what brands promise and what customers experience, with “loyalty tax” and confusing specials singled out—especially in utilities and other everyday services. Land Back: Te Rūnanga o Toa Rangatira bought Pikarere Farm, reconnecting Ngāti Toa with 740 hectares of ancestral coastal whenua in Porirua.

Health Insurance Pressure: More New Zealanders are dropping private cover, with claims rising 75% and average payouts climbing as affordability bites. Transport Infrastructure Funding Gap: Wellington’s SH1 Mt Victoria/Terrace Tunnel fast-track has started, but major construction still has no money or start date—critics call it a “ghost project”. Telecom Regulation: The Commerce Commission says wholesale fibre competition isn’t strong enough to deregulate key services, keeping regulation in place. Food & Biosecurity: Sardine deaths deepen as Pilchard Herpesvirus is found in all tested fish in South Africa, while NZ and the region watch for wider impacts. Agriculture Exports: APEDA and Tripura’s organic sector link up with international buyers including New Zealand to expand global market access. Energy & Industry: A deep-sea mining survey mission launches in the Clarion-Clipperton Zone, aiming to build a minerals supply chain while modelling environmental impacts. Public Conservation Fight: Thousands protest against changes to public conservation land, warning of more mining and commercial exploitation. Workforce & Skills: NZ’s job-matching platform is being upgraded as demand for AI skills grows while overall job ads keep sliding. Regional Trade Links: Thailand and New Zealand move to deepen cooperation across agriculture, digital innovation, renewables and supply chains.

AI for trades: Sophiie AI has raised A$5m seed funding to expand its AI operating system for trades and service businesses, with growth across Australia, New Zealand and the UK and plans to push into the US later this year. Natural hazard insurance: IAG NZ warns that if the Government keeps its current pace on flood and other hazard risk reduction, insurers may have to rethink what they can afford to cover. Home lending pressure: ASB’s parent CBA points to higher NZ swap rates and tougher fixed-rate competition compressing margins as ASB’s June-year profit fell. Food integrity: Avocado oil sold in New Zealand is at the centre of purity claims after lab testing commissioned by an industry group alleged undeclared dilution, with one named brand rejecting the allegations. Media jobs: RNZ says it will cut about 25–30 roles as government funding drops again. Tourism and compliance: A Queenstown tourism “heli-crayfish” experience has led to sentencing for illegally gathering crayfish without the right permit. Regional adaptation: Managed retreat is moving from fringe to mainstream climate adaptation, creating new demand across engineering, housing and insurance. Markets: NZX 50 rose for a second week, helped by recovering tourism and gains at SkyCity and lenders.

NZX Market Wrap: The S&P/NZX 50 rose for a second week, helped by recovering tourism and strength in SkyCity, while Heartland and ANZ held up as property sentiment cools. Aviation Disruption: Fog is grounding and delaying flights, with Wellington hit after Auckland restrictions earlier in the day. Energy & Renewables: Meridian reported record July demand and lifted renewable generation, while Contact and Meridian’s monthly update suggests South Island hydro schemes remain full. Food & Drink: New Zealand Spirits Awards 2026 crowned top distilleries across the country, with small producers punching above their weight. Forestry Oversight: Gisborne District Council has commissioned an independent review of its forestry consenting and compliance systems amid concerns about risk, costs and processing times. Solar for Schools: Kaikōura schools are among 500 nationwide selected for the Government’s solar on schools programme. Security & Diplomacy: NZSIS says China is the only state spying “at scale” in New Zealand; China’s embassy rejects the claims. Trade & Cooperation: Vietnam’s top leader’s NZ visit is framed as a push toward more practical cooperation, including AI, smart agriculture and food tech. Biosecurity/Industry: Avocado oil makers are calling for tougher purity testing after claims of dilution in products sold in Australia and New Zealand.

Energy Transparency: The chief ombudsman says officials wrongly hid modelling behind Labour’s LNG import terminal plan for Port Taranaki, with the released slides questioning whether LNG would lower average electricity prices and arguing there were other energy-security options. South Island Growth: Christopher Luxon told a Christchurch business conference his commitments include freight hub investment, mining policy under fast-track approvals, and new requirements for data centre projects to come with firmed generation. Insurance & Finance: IAG NZ reported a drop in insurance profit and slower gross written premium growth, while RBNZ signals tighter scrutiny ahead for lenders and insurers. AI & Cyber Risk: CyberCX warns severe findings are common in AI security testing, with manufacturing, construction, healthcare and logistics flagged as high-risk. Water & Infrastructure: Masterton cut network water loss to 15% by using more accurate meter data for leak detection, while Whakatāne’s Ōhope Waterways subdivision will be chip sealed despite resident pushback. Trade & Agriculture: New Zealand and Vietnam expanded market access for products including honey, deer velvet and venison, plus cooperation across agriculture, fisheries and forestry. Health & Tech: A Christchurch woman says an ADHD diagnosis helped her beat opioid addiction, and another case shows AI medical transcription can hallucinate serious claims. Regional Services: Ambulances from northern Auckland are being diverted to Whangārei Hospital due to North Shore being too full.

Energy & Resources: New Zealand has granted a new 10-year energy mining permit in the Taranaki Basin for the Puka field and the Oru prospect, with the government saying it will help bring more gas to the domestic market. Finance & Payments: RBNZ Assistant Governor Angus McGregor says a prudential levy won’t change how the RBNZ operates, while the bank prepares an issues paper later this month on modernising New Zealand’s payments system toward faster, more resilient real-time options. Banking: ASB reported cash net profit of $1.318b, down 2%, with a $135.6m class action settlement driving costs up 16%. Trade & Agriculture: Prime Minister Christopher Luxon and Vietnamese President To Lam agreed new steps to deepen the NZ–Vietnam comprehensive strategic partnership, including an agricultural package expanding market access for honey, deer velvet and venison. Markets: NZX 50 rose 0.6% as inflation expectations cooled, with gains led by Mainfreight, Freightways and Auckland Airport. Aviation/Logistics: RUA Gold says it has received a five-year permit to drill the Glamorgan gold system and is advancing the Reefton project toward potential production.

Agri-Exports: The Philippines has sent its first commercial cacao shipment to New Zealand—6,000kg from Davao—aiming to open a new market for farmers and help cut the country’s trade deficit. Cruise Competitiveness: Auckland unveiled a 10-year cruise plan (2026-2036) to protect and grow high-value calls as New Zealand faces softer deployment; the NZ Cruise Association also re-elected chair Tansy Tompkins, warning the industry is still in a tough global fight. Trade Barriers: ExportNZ says non-tariff barriers cost exporters more than $9b a year, pushing for faster removal of certification, standards and labelling hurdles—plus e-labelling and digital trade standards. Space & Security: NZSIS says it disrupted a Chinese-linked attempt to install satellite tracking equipment, while Rocket Lab detailed its Narrow Cape “Ghost” project plans. Housing & Infrastructure: Kāinga Ora’s Arlington reset will deliver 104 social homes in Wellington; meanwhile South Island leaders dispute road funding gaps, arguing underinvestment is forcing poorer outcomes. Tech & Data Centres: PractiTest launched an AWS hosting region in Australia for customers across NZ/APAC. Property Market: REINZ reports July sales down 10% year-on-year as buyers take longer to decide.