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Yahoo
5 hours ago
- Politics
- Yahoo
New Zealand faces most challenging security environment in recent time, report shows
By Lucy Craymer WELLINGTON (Reuters) -New Zealand is facing the toughest national security challenges of recent times with increasing threats of foreign interference and espionage, particularly from China, according to an intelligence report released on Thursday. The New Zealand Security Intelligence Service (SIS) report said there was almost certainly undetected espionage activity harming the country's interests and that foreign states continue to target critical organisations, infrastructure and technology to steal sensitive information. 'Some states, including China, Russia and Iran, are willing to engage in covert or deceptive activity in order to influence discussions and decisions, or gain access to technology and information that can help them meet these goals ... New Zealand has been targeted by some of these activities,' the report said. China was a particularly "assertive and powerful" actor in the region and had demonstrated both a willingness and capability to undertake intelligence activity that targets New Zealand's national interests, it added. The Chinese Embassy in New Zealand did not immediately respond to a request for comment. The report titled New Zealand's Security Threat Environment is released annually as part of a government shift to better inform New Zealanders about risks the country is facing. The country, part of the Five Eyes intelligence and security alliance, has increasingly amped up its rhetoric over the growing influence of China in the region and a rise in geopolitical tensions, committing earlier this year to spend more on defence. Director-General of Security Andrew Hampton said the threats need to be taken much more seriously than they are currently. 'Our threat environment is deteriorating and that has a direct impact on our safety and security,' he said in a statement released alongside the report. The report also pointed to the growing threat of violent extremism and said the most plausible attack scenario remains a lone actor who has been radicalised online. 'Grievances and polarising issues in the online information space are almost certainly driving support for a range of violent extremist ideologies within New Zealand,' the report noted. Solve the daily Crossword
Yahoo
a day ago
- Business
- Yahoo
NZ central bank cuts rates to 3-year low, flags more easing; kiwi $ tumbles
By Lucy Craymer WELLINGTON (Reuters) -New Zealand's central bank cut its policy rate by 25 basis points to a three-year low of 3.00% on Wednesday, and flagged further reductions in coming months as policymakers warned of domestic and global headwinds to growth. The New Zealand dollar fell as much as 0.8% to $0.5845, while two year swap rates slumped as deep as 2.96% -- their lowest level since early 2022 -- as the decidedly dovish stance caught markets off guard. Shop Top Mortgage Rates Your Path to Homeownership Personalized rates in minutes A quicker path to financial freedom The Reserve Bank of New Zealand said the economy had stalled in the second quarter, and that the committee debated holding rates as well as reducing them by 25 basis points or 50 basis points. The cut in the official cash rate by a quarter point was in line with a Reuters poll in which all but two of the 30 economists surveyed correctly forecast the RBNZ's decision, after the bank held policy steady in July. The central bank has slashed rates by 250 basis points since August 2024 to underpin a fragile recovery, taking advantage of expectations inflation will return to 2% next year and to buffer the economy from a broad shakeup in U.S. tariff policy. 'There are upside and downside risks to the economic outlook. Cautious behaviour by households and businesses could further dampen economic growth. Alternatively, the economic recovery could accelerate as the full effects of interest rate reductions flow through the economy,' the RBNZ said in its accompanying policy statement. The central bank forecast in its Monetary Policy Statement that the cash rate will be at 2.71% in the fourth quarter of 2025, below a forecast of 2.92% in May. In the first-quarter of 2026 it expects it to average 2.55%, lower than the previously forecast 2.85%. "If medium-term inflation pressures continue to ease as expected, there is scope to lower the OCR further," the statement added.A global front-runner in withdrawing pandemic-era stimulus, the RBNZ lifted rates 525 basis points between October 2021 and September 2023 to curb inflation in the most aggressive tightening since the official cash rate was introduced in 1999. The punishing borrowing costs, however, took a heavy toll on demand and tipped the economy into recession last year. While, the South Pacific nation has emerged from the slump, growth remains weak and is being further hampered by a slowdown in the global economy and the government's tight fiscal policy. Adding to the domestic economic stress, unemployment is also rising. New Zealand's annual inflation remains within the RBNZ's 1%-3% target band at 2.7% and the central bank is forecasting it will increase to 3.0% in the third quarter. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Straits Times
12-08-2025
- Business
- Straits Times
New Zealand politician removed from parliament following comments in Palestinian debate
Sign up now: Get ST's newsletters delivered to your inbox A pedestrian walks past the New Zealand Parliament Buildings in Wellington, New Zealand, June 14, 2022. REUTERS/Lucy Craymer/File Photo WELLINGTON - New Zealand parliamentarian Chloe Swarbrick was ordered to leave parliament on Tuesday during a heated debate over the government's response to Palestine. An urgent debate was called after the centre-right government said on Monday it was weighing up its position on whether to recognise a Palestinian state. Close ally Australia on Monday joined Canada, the UK and France in announcing it would recognise a Palestinian state at a U.N. conference in September. Swarbrick, who is co-leader of the Green Party, said New Zealand was a 'laggard' and an 'outlier' and the lack of decision was appalling before calling on some government members to support a bill to 'sanction Israel for its war crimes." The bill was proposed by her party in March and is supported by all opposition parties. 'If we find six of 68 Government MPs with a spine, we can stand on the right side of history," said Swarbrick. Speaker Gerry Brownlee said that statement was 'completely unacceptable' and she had to withdraw it and apologise. When she refused, Swarbrick was ordered to leave parliament. Brownlee later clarified Swarbrick could return on Wednesday but if she still refused to apologise she would again be removed from parliament. Top stories Swipe. Select. Stay informed. Singapore Power fault downs MRT service on stretch of North East Line; recovery may take 2-3 hours Singapore Live: NEL MRT service between Farrer Park and Buangkok stations restored Business Singapore raises 2025 economic growth forecast but warns of uncertainty from US tariffs Singapore Circle Line to close early most Fridays and Saturdays, start late most weekends from Sept 5-Dec 28 Business Goh Cheng Liang, Nippon Paint billionaire and richest Singaporean, dies aged 98 Business StarHub buys rest of MyRepublic's broadband business in $105m deal; comes after Simba buys M1 World After tariff truce extended, a Trump-Xi summit in China? Asia Death of student in Sabah raises hurdle for Malaysian PM Anwar as he faces tough state polls soon New Zealand has said it will make a decision in September about whether it would recognise Palestine as a state. Foreign Minister Winston Peters told parliament that over the next month the government would gather information and talk to partners, which would inform cabinet's decision. 'We'll be weighing this decision carefully rather than rushing to judgement,' Peters said. Along with the Green Party, opposition parties Labour and Te Pati Maori support recognition of a Palestinian state. Labour parliamentarian Peeni Henare said New Zealand had a history of standing strong on its principles and values and in this case 'was being left behind.' REUTERS
Yahoo
09-07-2025
- Business
- Yahoo
New Zealand central bank holds cash rate at 3.25%
By Lucy Craymer WELLINGTON (Reuters) -New Zealand's central bank held the benchmark interest rate at 3.25% on Wednesday, but said it expected to lower the cash rate if medium-term inflation pressures continued to ease as projected. The decision was in line with a Reuters poll in which 19 of 27 economists surveyed forecast the Reserve Bank of New Zealand would hold the cash rate for the first time since it started a cutting cycle in August 2024. The central bank has cut rates by 225 basis points since August, but with inflation at 2.5% and concerns that trade tensions could add to price pressures, the central bank has adopted a more cautious approach. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Straits Times
05-06-2025
- Politics
- Straits Times
New Zealand parliament confirms unprecedented lengthy suspension of Indigenous lawmakers
FILE PHOTO: Police stand guard as protesters gather on the grounds of New Zealand Parliament, as they demonstrate against what they consider as government encroachment on freedoms, in Wellington, New Zealand, August 23, 2022. REUTERS/Lucy Craymer/File Photo WELLINGTON - New Zealand's parliament agreed on historically lengthy suspensions for three Indigenous lawmakers who last year performed a haka, a traditional Maori dance, disrupting the reading of a controversial bill. A parliamentary privileges committee in May recommended the suspension of the three Te Pati Maori parliamentarians for acting in "a manner that could have the effect of intimidating a member of the house." The three performed the haka last November ahead of a vote on a controversial bill that would have reinterpreted a 185-year-old treaty between the British and Indigenous Maori that still guides the country's policy and legislation. The government voted through the suspensions, which will see Te Pati Maori co-leaders Debbie Ngarewa-Packer and Rawiri Waititi stood down from parliament for 21 days, and representative Hana-Rawhiti Maipi-Clarke for seven days. While the members are suspended, they will not be paid or be able to vote on legislation. Suspending lawmakers is rare in New Zealand's parliament with only three members suspended in the past 10 years, according to New Zealand parliamentary services. Before Thursday, the longest suspension was for three days, according to New Zealand representatives who spoke earlier in the day. Maipi-Clarke told parliament ahead of the vote that the suspension was an effort to stop Maori from making themselves heard in parliament. 'Are our voices too loud for this house? Is that the reason why we are being silenced? Are our voices shaking the core foundation of this house? The house we had no voice in building… We will never be silenced and we will never be lost,' she said. Judith Collins, who heads the privileges committee and serves as attorney-general, had previously told parliament that the haka forced the speaker to suspend proceedings for 30 minutes and that no permission had been sought to perform it. "It's not about the haka ... it is about following the rules of parliament that we are all obliged to follow and that we all pledged to follow," Collins said. The opposition Labour party called for a compromise and proposed censure instead of suspension. Labour considers the suspension to be 'inconsistent with the fundamental nature of this democracy,' Labour parliamentarian Duncan Webb said on Thursday. "This decision is wildly out of step with any other decision of the privileges committee," said Webb. The haka was traditionally a way for Maori to welcome visiting tribes or to invigorate warriors ahead of battle. It is now performed at important events as well as ahead of matches by New Zealand's rugby teams. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
