logo
New Zealand will make it easier to run businesses in conservation areas

New Zealand will make it easier to run businesses in conservation areas

Straits Times5 days ago
Sign up now: Get ST's newsletters delivered to your inbox
Foreign visitors will also be charged between NZ$20 and NZ$40 (S$15-$30) to access some popular sites, while locals will continue to go free.
NEW ZEALAND - New Zealand will make it easier to run businesses in conservation zones and charge foreign tourists to enter some areas in an effort to create jobs and increase economic growth, Prime Minister Christopher Luxon said on Aug 2.
The decision by the centre-right government, elected in 2023, is part of its efforts to boost New Zealand's tourism industry and stimulate a limp economy.
It also comes at a time when people in countries around the world are protesting what they see as excessive numbers of tourists.
'We're going to fix the Conservation Act to unleash a fresh wave of concessions – like tourism, agriculture, and infrastructure, in locations where that makes sense,' Mr Luxon said in a statement.
Business activities from guided walks and skiing to livestock grazing and infrastructure construction already take place in conservation areas, but permission takes too much time and effort to obtain, he said.
'Unleashing economic growth on one-third of New Zealand's land will create jobs and increase wages across the country,' the statement said.
Foreign visitors will also be charged between NZ$20 and NZ$40 (S$15-$30) to access some popular sites, while locals will continue to go free.
Top stories
Swipe. Select. Stay informed.
Singapore 60 years of building Singapore
World Trump deploys nuclear submarines in row with Russia
Singapore Sheng Siong to open first store in Orchard by end August
Asia 'This isn't some concubine selection': Why matchmaking events for rich Chinese have drawn flak
Life Tastemakers: Burnt-out serial entrepreneur cooks up $16m success with Lau Wang Claypot Delights
Sport Spurs captain Son Heung-min says he is leaving the English Premier League club
Life The story of you: What might Singapore look like for those born today?
Singapore Man in army uniform allegedly vaping on bus released from SAF custody; investigations ongoing
'Tourists make a massive contribution to our economy, and no one wants that to change. But I have heard many times from friends visiting from overseas their shock that they can visit some of the most beautiful places in the world for free,' said Conservation Minister Tama Potaka. REUTERS
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

China export growth unexpectedly quickens despite US tariffs
China export growth unexpectedly quickens despite US tariffs

Business Times

time21 minutes ago

  • Business Times

China export growth unexpectedly quickens despite US tariffs

[BEIJING] China's export growth unexpectedly accelerated last month in the fastest gain since April. Total exports rose 7.2 per cent in July from a year earlier, according to data released on Thursday (Aug 7) by the customs authorities. That's more than economists' forecast for a 5.6 per cent increase. Imports climbed 4.1 per cent, leaving a surplus of US$98.2 billion. The resilience in overseas shipments comes despite the high tariffs imposed by the US, suggesting that global demand remains a significant driver for China's economy. Shipments to the US fell 22 per cent from a year earlier after slumping just over 16 per cent in June. Chinese firms were able to increase their sales in other markets to compensate for the drop to the US, with exports to the European Union rising 9.3 per cent and growing almost 17 per cent to the 10 South-east Asian nations in the Asean group. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up In the first half of the year, exports hit a record as companies tried to ship goods as quickly as possible to avoid the risk of tariffs. The question now is whether that strength continues for the rest of the year, with front-loading expected to fade. High-frequency data indicates that trade activity is slowing, with Chinese ports processing fewer containers in the seven days to Aug 3 than in the previous period, the second straight week of declines. China has also increasingly relied on third countries for the manufacturing of final products or components, a trend that accelerated following US President Donald Trump's first trade war and his imposition of higher restrictions on the world's second-largest economy. China's share of total value-added manufacturing of goods destined for the US through countries including Vietnam and Mexico surged to 22 per cent in 2023 from 14 per cent in 2017, according to Bloomberg Economics. BLOOMBERG

South Korea, US to conduct major joint military drills starting Aug 18
South Korea, US to conduct major joint military drills starting Aug 18

Straits Times

timean hour ago

  • Straits Times

South Korea, US to conduct major joint military drills starting Aug 18

Sign up now: Get ST's newsletters delivered to your inbox SEOUL - South Korea and the United States will conduct major joint military drills starting on Aug 18, officials said, although they will delay parts of the annual exercises that have been a source of tension with North Korea to later in 2025. The 11-day annual exercises, called Ulchi Freedom Shield, will be on a similar scale to 2024 but adjusted by rescheduling 20 out of 40 field training events to September, South Korea's joint chiefs of staff spokesperson Lee Sung-jun said. The allies agreed to reschedule some parts of the drill to September over factors 'including ensuring training conditions during extreme heat and maintaining a balanced combined defence posture year-round,' Mr Lee said at a briefing. 2025's drill will test an upgraded response to heightened North Korean nuclear threats as well as cutting-edge technologies used in modern wars, Mr Lee said, citing conflicts in Ukraine and the Middle East. The exercise will include a scenario of a North Korean missile launch, but will not cover a potential nuclear test by Pyongyang, he said. The decision to spread out the scheduling included reasons such as extreme weather, Mr Lee said, denying there were any political factors behind the move. The drills are due to be staged as the new South Korean government of President Lee Jae Myung seeks to improve strained ties with Pyongyang and revive stalled dialogue with its neighbour. A senior official from South Korea's Unification Ministry, which manages relations between the Koreas, said on Aug 7 that the delay in some training exercises was aimed at easing tensions with North Korea, the Yonhap News Agency reported. Top stories Swipe. Select. Stay informed. Singapore Some ageing condos in Singapore struggle with failing infrastructure, inadequate sinking funds Singapore PUB investigating wastewater discharge in Eunos: Pritam Singapore Water gel guns among newer tools NParks uses to manage monkeys in estates World Trump eyes 100% chips tariff, but 0% for US investors like Apple World Trump's 100% semiconductor tariffs may hit chipmakers in Singapore, other SEA nations Singapore Afraid of small talk? Scared to make a phone call? How social skills workshops are helping young people Singapore ST and Uniqlo launch design contest for Singapore stories T-shirt collection Business DBS shares hit record-high after Q2 profit beats forecast on strong wealth fees, trading income Some analysts were sceptical about Pyongyang's response. 'North Korea won't be satisfied with the adjustment at all,' said Mr Cheong Seong-chang, vice-president at the Sejong Institute in Seoul, a research centre on North Korean affairs. 'What the regime wants is the termination of the drills with the US, not a slight rescheduling,' said Mr Cheong. On Aug 4, South Korea removed loudspeakers blasting anti-North Korea propaganda near its border with the North in a bid to lower friction with Pyongyang. So far North Korea has rebuffed such overtures by Seoul. Ms Kim Yo Jong, the powerful sister of North Korean leader Kim Jong Un, recently said that South Korea's decision to stop the broadcasts was 'not the work worthy of appreciation,' state media KCNA reported. REUTERS

Yangzijiang Shipbuilding shares surge 11% on record first-half earnings
Yangzijiang Shipbuilding shares surge 11% on record first-half earnings

Straits Times

timean hour ago

  • Straits Times

Yangzijiang Shipbuilding shares surge 11% on record first-half earnings

Sign up now: Get ST's newsletters delivered to your inbox Yangzijiang Shipbuilding saw a 36,7 per cent jump in net profit to 4.18 billion yuan (S$748 million) for the six months to June 30. SINGAPORE - Shares of Yangzijiang Shipbuilding soared on Aug 7, after the mainboard-listed company posted a record net profit for the first half of 2025. The stock rallied as much as 11 per cent to $2.92 after its results announcement, and was up 7.6 per cent at $2.83 at the midday trading break. A hefty 69.2 million shares changed hands. Yangzijiang saw a 36,7 per cent jump in net profit to 4.18 billion yuan (S$748 million) for the six months ended June 30, from 3.06 billion yuan in the year-ago period. This was despite a 1.3 per cent dip in first half revenue to 12.88 billion yuan, the company reported b efore the market opened on Aug 7 . The decline in revenue was mainly due to lower contributions from the shipbuilding segment, as the group has begun constructing oil tankers, which it said 'carry a lower average unit price than container ships'. Revenue from the shipping segment also fell 15.4 per cent year on year to 511.4 million yuan, following a drop in charter rates. But revenue from its other businesses - including trading, ship design services and investment properties - climbed 153.2 per cent year on year to 117.1 million yuan in the first half of FY2025. Top stories Swipe. Select. Stay informed. Singapore Some ageing condos in Singapore struggle with failing infrastructure, inadequate sinking funds Singapore PUB investigating wastewater discharge in Eunos: Pritam Singapore Water gel guns among newer tools NParks uses to manage monkeys in estates World Trump eyes 100% chips tariff, but 0% for US investors like Apple World Trump's 100% semiconductor tariffs may hit chipmakers in Singapore, other SEA nations Singapore Afraid of small talk? Scared to make a phone call? How social skills workshops are helping young people Singapore ST and Uniqlo launch design contest for Singapore stories T-shirt collection Business DBS shares hit record-high after Q2 profit beats forecast on strong wealth fees, trading income Contributions from Yangzijiang's associated companies and joint ventures rose 79 per cent year on year to 481.4 million yuan. This included 320 million yuan from Yangzi-Mitsui Shipbuilding, and 160 million yuan from Tsuneishi Zhoushan, in which the group completed a capital injection for a 34 per cent stake in the first quarter of 2025. Looking ahead, the company said the shipbuilding industry faces macroeconomic uncertainties and geopolitical tensions in the near term. Global shipbuilding contracted 54 per cent year on year in the first half of 2025, primarily due to growing concerns over the impact of the US tariffs on global trade volumes. Additionally, proposed US port fees have prompted shipowners to seek alternatives, though limited capacity outside China remains a constraint, the Chinese shipbuilder said. Yangzijiang, however, remains 'cautiously optimistic', given its outstanding orderbook. During the first half year, the group secured contracts amounting to US$537.2 million (S$640.5 million) for 14 vessels, with about 85 per cent for container ships. This raised the group's total outstanding order book to US$23.2 billion for delivery through 2029 and beyond. It expects improved market sentiment and clearer tariff progression in the second half of 2025 to support new orders, and is confident of filling its remaining delivery slots for 2028 and 2029, which largely comprise small to mid-sized vessels.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store