Passengers wait at Waitemata Station as trains suspended
Auckland mayor Wayne Brown asked Aucklanders to submit on its annual plan for the chance to win a meal with him at Dragonboat Restaurant - which has now gone into liquidation.
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Techday NZ
a day ago
- Techday NZ
MetaComp completes first cross-border payment using carbon stablecoin
MetaComp has executed what it describes as the first real-world cross-border payment using the CNT Carbon Stablecoin framework, combining blockchain technology with regulated foreign exchange infrastructure and embedded carbon credits. The transaction was completed using MetaComp's StableX platform, enabling a same-day settlement from euros (EUR) to offshore Chinese yuan (CNH). StableX leverages blockchain technology to facilitate settlements more rapidly than traditional multi-day, multi-intermediary methods, while embedding verified carbon credits into each transaction. Transaction details According to MetaComp, the newly applied CNT Carbon Stablecoin framework operates by converting verified decarbonisation activities into programmable, carbon-backed stablecoins. Each unit of the CNT stablecoin issued is directly backed by certified emission reductions, tracked and audited using Alpha Ladder Group's Non-Fungible Digital Twin (NFDT) technology. The company states that the transaction demonstrated both the efficiency of blockchain-facilitated payments and the integration of sustainability through verified carbon credits. This particular CNT carbon stablecoin was underpinned by Chinese Certified Emission Reduction (CCER) credits from a wind power project in Zhangjiakou City, which was co-host of the 2022 Winter Olympics. These credits are registered with China's national carbon credits registry, ensuring traceability and authenticity. The issuance and management of the stablecoin were handled by Alpha Ladder Finance (ALFin), which is regulated under Singapore's Monetary Authority of Singapore (MAS) framework. The stablecoin itself is registered as a Collective Investment Scheme (CIS) unit token under Singapore's Securities and Futures Act. Same-day settlement MetaComp notes that the payment was completed in hours, bypassing several intermediaries and their respective operating hours. The use of programmable stablecoins allowed for near-instant settlement finality, as well as the real-time recording of corresponding data on-chain. The company highlighted the scalability of the approach, with its MAS-regulated payment infrastructure, supported by ALFin in its capacity as a MAS-regulated dealer of securities and CIS, facilitating a compliant cross-border transaction. Integrated sustainability Every CNT carbon stablecoin is created through association with verifiable carbon reduction projects, embedding documented sustainability value into the digital currency. MetaComp argues that such integration allows institutions to consider both financial efficiency and climate benefits in their international money movements. This first real-world transaction shows that sustainable cross-border payments are not a future concept – they are here today," said Tin Pei Ling, Co-President of MetaComp. "By integrating Alpha Ladder's patented CNT framework into our regulated payments infrastructure, we are enabling institutions to move money globally with both financial efficiency and verifiable climate benefit. Regulated infrastructure MetaComp is headquartered in Singapore and operates on a regulated basis through licensing from MAS under the Payment Services Act. The company focuses on providing institutional clients, fintech firms, and other entities with services such as over-the-counter and exchange trading, fiat payment rails, regulated digital asset custody, and prime brokerage. Its Client Asset Management Platform (CAMP) aims to bridge traditional financial services with digital asset capabilities. StableX, described as MetaComp's new cross-border FX and liquidity routing infrastructure, is responsible for the programmable execution and optimisation of multi-currency settlement, using a mix of stablecoins and fiat currencies. Role of Alpha Ladder Group Alpha Ladder Group, which describes itself as a digital green technology enterprise, holds patents on the CNT Carbon Stablecoin framework and the associated NFDT technology. The group's objective is to build interoperable financial systems that prioritise both speed and environmental sustainability in global transactions. The partnership between MetaComp and Alpha Ladder Group reflects a coordinated approach to delivering regulated, sustainability-focused payment solutions targeted at institutional users and supporting the broader move towards integrating ESG compliance in financial services.
RNZ News
a day ago
- RNZ News
Hotel operator in favour of bed nationwide bed levy if no alternative options found
Photo: 123RF A hotel operator says he is in favour of a nationwide bed levy, if no alternative revenue-generating options are found. It comes as Auckland's mayor Wayne Brown asked the government to reconsider its opposition to a bed night levy. Brown has long campaigned for a bed tax on visitors to help fund destination marketing and events. Chief operating officer of Sudima Hotels and Hind Management Les Morgan told Morning Report he supported a levy "if no other choice was given to us". "I think that's the starting point that we want to ensure that all sorts of other options for generating funding for these events is explored," he said. "We certainly want to be seen to be supportive. We want to be part of the architecture to ensure that it's designed correctly." Consultation on Auckland Council's annual plan, which included the proposal for a bed night visitor levy, received more than 13,000 pieces of feedback. Morgan said a levy would become too complicated if it was only introduced in Auckland. "We have something like 16 regional councils across New Zealand. If every council was to impose a different rate, how would that be. "If you journey down the country, would you face 5 percent in one town and 10 percent in the other. "A lot of us sell New Zealand Inc overseas. How are we to explain to a tourist that if arrive here you might pay a different tax?" Having the levy ringfenced for major events held in New Zealand made sense, Morgan said. "If you think of New Zealand collectively, there's an opportunity. Auckland alone can't raise enough funds, for instance, to attract a World Cup. But New Zealand can. "So if there was some framework within that where a percentage of the national pot was put aside to attract these major events, "I think that makes sense that we work together." However, he accepted there was some risk of adding further costs on overseas visitors. "I personally have just come back from a sales trip to China and the Chinese market are are very price sensitive at the moment and so are others. "Our visitors to our shores already face a lot of levies and taxes. They face the IVL at the border, potentially face visa costs, they face surcharges on the aeroplane tickets, they get here and pay GST. They play fuel tax like we do, alcohol tax like we do." "Tourism in New Zealand contributes something like $4.1 billion per annum in GST. So there is a lot of tax coming in. The risk is New Zealand is becomes more expensive." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
The Spinoff
a day ago
- The Spinoff
What's going on with the Auckland Night Markets?
And how much is too much to pay for a market stall? Aucklanders love a market – wandering around an asphalt carpark with a steaming bao or paua pie, surrounded by their compatriots. Markets have become big business, proliferating throughout the city, and providing options every evening for hungry and thrifty locals. For vendors, all of it comes with a cost; time, stock, labour and the money you pay to a market's organisers for your spot. Stall fees at one market have been the subject of recent criticism, simmering on social media before boiling over into mainstream outlets (a Kiwi classic) as business owners complain of unjustified price increases at Auckland Night Markets, which is also the subject of complaints about management behaviour and communication – allegations that have been denied by owner Victoria Yao and director Paul De Jonge. Alright, catch me up, what's happened now? A July 27 TikTok video from small business owner Yuli Wang went viral, claiming vendors were being 'mistreated' and 'taken advantage of' by the Auckland Night Markets organisers, recounting an incident at the markets where she says she was yelled at, and asked to 'pay more' if she wanted to stay. The video racked up 808.2K views, 64.9K likes and 1.4K comments (some of which detailed other accusations). Across several Instagram posts, the official Auckland Night Markets account responded to Wang's tale and claimed fees were 'always communicated and agreed' with stallholders beforehand, denied charging more than quoted, and insisted staff communicated 'firmly but respectfully'. Addressing what appeared to be the incident with Wang, it alleged she occupied 'three stall spaces in the middle of a walkway'. Another vendor, Elote Cartel, who ran a food stall, told the Herald a week later that Yao upped their agreed fee from $300 to $500 at one market due to 'traffic', before agreeing a lower price. Cartel also claimed they were without power for hours at one market, a location they described as 'dirty' and 'like a dungeon'. A former Auckland Night Markets employee said they quit because of concerns about health and safety (including an empty fire extinguisher, which they supplied photos of) and claimed to have witnessed Yao being 'verbally abusive'. It's not the only media attention Auckland Night Markets has had this year. The owners apologised in May after they publicly criticised Vietnamese food stall Hue's Kitchen (a stall within their own market). A stabbing at the Pakuranga market in June led to calls for increased security, with RNZ canvassing concerns of visitors and vendors, and hearing from Yao that security guards would be increased from three to five. Are these concerns from stallholders new? Sort of. It's not the first time stallholder grievances have made headlines. In 2024 Waikato Times reported a vendor's employee was 'screamed at' by a manager of Hamilton Night Markets (which is operated by Auckland Night Markets). Politicians have grumbled too. In 201,7 Pakuranga Labour candidate Barry Kirker expressed frustration to the Eastern Times that 'the Pakuranga markets have a policy of having to pay $500 for a candidate to walk through there and meet people'. The fee gave a party candidate exclusive campaigning rights on a given date, a spot with table and chairs, and all-night mingling with marketgoers. Where did the Auckland Night Markets even come from? You'd have to have been living under a rock to miss its rise over the past 15 years. It was established in 2010 by Victoria Yao (who runs it alongside husband Paul de Jonge, the manager and director) with the idea of replicating the night markets of China, where the couple operated restaurants and bars before moving to Aotearoa. Their first market had 120 vendors and reportedly drew a crowd of 3,000 to the carpark of Pakuranga Plaza mall. After two years it expanded to five locations and, since then, like the Super City itself, the business has sprawled. There are multiple companies associated with its founders; Paul De Jonge is listed as sole director of Auckland Night Markets Limited, Taupo Night Markets Limited, Rotorua Night Markets Limited, and Night Markets Online Limited – he's a 50:50 shareholder in each alongside Zhi Fen Yao; both are also listed as current directors and shareholders of Queensgate Night Markets Limited, Christchurch Night Markets Limited and Hamilton Night Markets Limited (and Blue Frog Hospitality Limited). Auckland Night Markets' website currently promotes 10 locations on different nights of the week. Markets across Tāmaki Makaurau include Silo Park, Papatoetoe, Mount Wellington, Pakuranga, Botany, Henderson, and Kelston. Down State Highway 1, you'll find two in Kirikiriroa (Hamilton CBD and Chartwell) and even Queensgate in Pōneke. That's a big operation, and there are hundreds of vendors involved every week. Sounds like a massive operation with lots of stallholders. How does it work? You can't just rock up with a trestle table and a bain-marie, there are rules, and not just about setting up in the middle of a walkway. Vendors must comply with the Auckland Night Markets' Stallholder Rules. Food Stall Requirements stipulate an A-grade Food Registration License and current Food Control Plan (the Ministry for Primary Industry's template is 191 pages long and has been translated into Hindi, Vietnamese and other languages) which require registration with the council and professional verification. Stalls must have a fire blanket, fire extinguisher, first aid kit – all visible – plus a rubber floor mat and somewhere for handwashing; all electrics must be tested and tagged, and leads or adaptors have to be industrial grade. Filing a Stallholder Applicant Form doesn't guarantee you a spot, the Auckland Night Markets 'reserves the right to accept or decline any application at its sole discretion, without obligation to provide a reason'. Stallholder pricing for Auckland Night Markets varies, and food vendors (who get access to power) pay more than general vendors. A stall at Kelston on Mondays ($100 for food, $30 for general) is less than Pakuranga on Saturdays ($350 for food, $150 for general). During December and school holidays prices go up, $20 for food vendors and $10 for general stalls. Located on the General Info page is a caveat that 'extra charges apply' for high power usage, though exact costs aren't specified. You'll also find, in capitals, a rule about no rules. 'PLEASE NOTE PRICES ARE SUBJECT TO CHANGE WITHOUT NOTICE.' You pay fees to the duty manager on the night of the market, and have a short window of time to set up. $350 is a lot! How does that compare to other Auckland markets? Stallholder prices elsewhere have also raised eyebrows, particularly for council-aligned events. A retail stall at the two-day Pasifika Festival now costs $800. Kai costs even more; prices listed for the 2026 event range from $980 for a hangi/umu/lovo pit or food stall. Want to sell watermelon/pineapple ice cream? That will cost you $1,085 for the stall spot alone. Another annual festival, the BNZ Auckland Lantern Festival, also lists four-digit fees, with stall prices of $5,000 plus GST. (For the 2025 event, Auckland Council partnered with Auckland Night Markets for the four-night festival's food stalls.) Retail and information stall fees varied, topping out at $10,400. Surely there are cheaper markets out there? A food stall at Balmoral's Central Flea costs $70 (unpowered) and general stalls are $50; Britomart Saturday Market is similarly priced, with food and drink stall fees starting at $75, while a non-food space is $65. At Avondale Markets, prices for non-food vendors start at $25 for a casual stall. There's also a new entrant promising 'reasonable' stallholder fees; Open Circle is positioning itself as a 'community-focused market' launching later this year. Can we expect more market stories? Probably. More claims might surface on social media, and reporters are following the story. The Commerce Commission is assessing a number of concerns brought to its attention, though what happens next is as predictable as Auckland weather on market day.
