Founded by Max Farndale 1947 - 2018
Dec 7, 2017 - New Zealand's burgeoning fintech sector is coming of age with the likes of the Reserve Bank thinking more deeply about the impact changing technology will have on the broader financial system. The central bank identified the new wave of fintech as having "the potential to significantly change the structure of the financial sector" in its six-monthly financial stability report last week, singling out blockchain, crypto-currencies, application programming interfaces (APIs), big data and artificial intelligence, and digital platforms for peer-to-peer services among the most important.
Head of financial stability Bernard Hodgetts said in an interview last week that the central bank is thinking deeply about various scenarios arising from the new technology, and has identified open banking - which decentralises banking through third-party APIs - and crypto-currencies as areas where it can beef up its research.
"We've put quite a bit of thought into what sort of scenarios might lead to the core banking system suddenly facing more competition than it previously did," Hodgetts told BusinessDesk. "The core level of profitability of the system could potentially be competed away if you had some form of new entrant into the market that could take business away from the banking sector and I think the banks would be very mindful of that risk."
The Reserve Bank's decision to highlight fintech in the report follows earlier efforts by the likes of the Ministry of Business, Innovation and Employment and the Financial Markets Authority to support innovation in financial services, and the bank wants to work with other authorities to make sure it doesn't stifle digital innovation.
Continue here to read the full article on ShareChat || December 6, 2017 |||
Dec 7, 2017 - Thai Airways celebrates 30 years of flights between Auckland and Thailand today, marking a longstanding commitment to New Zealand as the only carrier to consistently service the Auckland-Bangkok route. On 6th December 1987, the first official Thai Airways passenger jet service, operated by a DC-10 aircraft, touched down at Auckland Airport.
Initially operated as a direct twice weekly service between Bangkok and Auckland, over the last thirty years the service has increased to daily with the recent launch of the new 787-9 Dreamliner on 17 November. The new offering marks a two-way tourist capacity increase from its five times per week service.
The new Dreamliner flight has added 600 weekly seats to the service, which serves as a popular connecting route to the rest of Asia and beyond to Europe.
Thai Airways Vice President of Alliances and Commercial Strategy Development Mr. Krittaphon Chantalitanon and Director of Sales, Australia, New Zealand and Pacific, Mr. Prin Yooprasert arrived yesterday from Thailand to attend today’s official celebrations.
Mr. Chantalitanon said that Thai Airways are proud of the legacy that the airline has established here in New Zealand.
"Over the last 30 years, Thai Airways has provided both New Zealand travellers and exporters access to Asia and beyond. Given that Thailand is now a leading tourist destination and New Zealand’s eighth largest export market, this is a relationship we are committed to growing."
"The increase to a daily flight service with last month’s launch of the new Dreamliner is testament to the growing significance of this route," says Mr.Chantalitanon.
Thai Airways operates 100 aircraft to 63 destinations in 33 countries across Asia/Pacific, Europe and the Middle East.
Over a million Kiwis have travelled to Thailand since 1987. Today Thailand is one of the top holiday destinations for New Zealanders.
Thai Airways 30th Anniversary will be officially celebrated tonight at the ANZ Viaduct Events Centre where long supporting travel agents and cargo agents will be recognised for their contribution to the airline over the last thirty years.
| A Thai Airways release || December 6, 2107 |||
Dec 7, 2017 - Health Minister Dr David Clark says he is taking action following the release of the Stage 2 findings from the Government Inquiry into Havelock North Drinking Water. “All New Zealanders should expect to have access to clean drinking water and, following this report, some will ask whether their water is safe. This report highlights that little has been done in this space for nine years,” Dr Clark says.
“The inquiry found that 80 per cent of residents have access to water which meets current standards. The inquiry raised concerns about the other 20 per cent.
“My priority, in reviewing the recommendations, remains the health of every New Zealander.
“Overall, this report raises serious concerns about oversight and infrastructure. We will be pursuing solutions to address any problems identified.
“I’ll be briefing Cabinet before Christmas on the next steps – both short and long term.”
Dr Clark acknowledged the scope of the report.
“Much of what we’re reading about today reflects yet another problem inherited from the previous Government and their nine years of neglect.
“I am expecting the Ministry of Health to take the report’s findings very seriously.
“The inquiry indicates that while drinking water standards instituted in 2007 represented international best practice at the time, since then New Zealand’s standards have not kept up with the world. This is a failure of the previous Government, and one we will take control of and address,” Dr Clark said.
The report is available here: https://www.dia.govt.nz/Government-Inquiry-into-Havelock-North-Drinking-Water
| A Beehive release || December 6, 2017 |||
Dec 5, 2017 - The Government’s policy of a year’s free tertiary education for eligible students will benefit workers and business alike, says E tū. Of the 80,000 students forecast to take up the offer next year, 50,000 are expected to enrol in NZQA accredited industry training.
In the case of industry training, eligible students will enjoy two years fee free.
“There are currently about 11,000 construction apprentices but there’s a need for another 40,000 workers over the next five years,” says E tū’s Industry Coordinator, Engineering and Infrastructure, Ron Angel.
“We should have begun training five years ago, but the next best time to start is right now, so this will certainly provide a boost for the relevant Industry Training Organisations to promote apprenticeships,” he says.
“This is an opportunity for more firms to take that jump and say, ‘yeah, I’m taking on an apprentice’, and having a go at it.”
Ron says the policy will also sit well alongside the Government’s focus on forestry and regional development.
“There are huge opportunities in forestry and the primary sector where we can add value to workers and get highly trained, highly skilled people who know there’s a future and a career ahead of them,” he says.
Electrician and E tū Executive member, Ray Pilley says the trades have been neglected for too long and anything which promotes trades to young people is good.
“I’m an electrician and I’ve been in the industry for over 30 years. I’ve had a fantastic career. It’s well paid and you’ve got a job for life.
“The old saying is true – got a trade, got it made.”
| An E tū release || december 5, 2017 |||
Dec 5, 2017 - The Government has today made good on its 100-day promise of delivering the first year of fees-free post school training and education and industry training from 1 January next year, says Education Minister Chris Hipkins. “This Government has taken the first major steps to break down financial barriers to post-school training and education. Next year, around 80,000 people will be eligible for fees free post-school training and education.
“It comes on top of our recent announcement of $50 increases in student allowance and student loans weekly living costs limits, which will make more than 130,000 students $50 a week better off.
“The policy is a major investment in New Zealanders and the New Zealand economy.
“It’s great news for young people who are finishing school and adults who have in the past been put off because of the cost, and it provides a genuine incentive to keep learning. This government is passionate about life-long learning. “Employers have also been calling for bold forward thinking to build a future workforce with new skills to meet changing demands. That’s what this policy will deliver.
“We expect the policy to halt, and over time reverse the current trend of fewer people going into post-school training and education. We have budgeted for a 3% increase in equivalent full-time students in 2018, equating to about 2000 extra students.
“The Government has budgeted for up to $380 million in the current financial year across the fees-free policy and the $50 increases to student loans and allowances.
“Of the about 80,000 eligible students, estimates are that about 50,000 will train or study at a polytechnic, as industry trainees, at a wānanga or a PTE. The remainder will study at university.
Eligibility and implementation
Mr Hipkins said the policy details released today confirm the eligibility for fees-free in provider-based education and industry training.
“If you're a New Zealander who finished school in 2017, or if you will finish school during 2018, you qualify for a year of free provider based tertiary education or industry training in 2018. If you're not a recent school leaver, and you've done less than half a fulltime year of education or training, you also qualify,” Mr Hipkins said.
The Tertiary Education Commission (TEC) will be responsible for implementing the fees-free policy, Mr Hipkins said.
“The TEC is working with Tertiary Education Organisations (TEOs) to ensure effective implementation of the fees-free policy, minimising any extra work TEOs may have to do. The TEC has set up a fees-free website to help prospective students and trainees confirm their eligibility for free fees. The TEC is being supported by other agencies, including the Ministry of Social Development, Ministry of Education and Inland Revenue.
“I appreciate that enrolled and prospective learners have had to wait some time before seeing the final details of the fees-free policy and I thank them for their patience; however, I’m sure learners will be happy with the result,” Mr Hipkins said.
More information for prospective students and trainees is at the fees-free website www.feesfree.govt.nz.
Further information for tertiary education providers and industry training organisations is available on the TEC’s website – www.tec.govt.nz.
The Government is committed to being transparent about how it develops and implements its policies. Cabinet papers on the Fees Free and student support costs polices are at: http://education.govt.nz/ministry-of-education/information-releases/100-days.
| A Beehive release || December 5, 2017 |||
Palace of the Alhambra, Spain
By: Charles Nathaniel Worsley (1862-1923)
From the collection of Sir Heaton Rhodes
Oil on canvas - 118cm x 162cm
Valued $12,000 - $18,000
Offers invited over $9,000
Contact: Henry Newrick – (+64 ) 27 471 2242
Mount Egmont with Lake
By: John Philemon Backhouse (1845-1908)
Oil on Sea Shell - 13cm x 14cm
Valued $2,000-$3,000
Offers invited over $1,500
Contact: Henry Newrick – (+64 ) 27 471 2242
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