Latest news with #Tuffley
Scoop
14 hours ago
- Business
- Scoop
Rural Resurgence Powers South Island Into Lead In ASB's Latest Regional Economic Scoreboard
Canterbury in top spot for Q1 2025 South Island still proving more robust than the North Trouble in the Capital: Wellington remains in 15th place Strong commodity prices and soaring food and fibre exports have helped power the South Island to a strong start to 2025, with Canterbury, West Coast, Otago and Marlborough in the top four spots of ASB's Regional Economic Scoreboard for Q1. Canterbury has kicked off 2025 on a high, securing first place off the back of a broad-based recovery across retail, housing and consumer confidence. 'The scoreboard is reflecting what many in the regions already know - rural New Zealand is doing the heavy lifting right now,' says Chief Economist Nick Tuffley. 'South Island regions are benefiting from strong commodity tailwinds and resilient export demand, especially across dairy, meat, forestry and horticulture.' The rural-led momentum comes as the Government forecasts record-breaking export earnings for New Zealand's food and fibre sector, which are expected to rise 12% to $54.6 billion in the year ahead. Fieldays 2025 has put a national spotlight on the sector's strength, with farmers, growers, fishers and foresters driving a powerful export rebound. According to Tuffley, 'We're seeing the impact of that performance filter through to local economies, particularly in regions like the West Coast, which has posted its best result in four years, and Canterbury, where rural strength is boosting confidence across the board.' The West Coast made a remarkable leap into second place, thanks to robust construction activity and a rebound in retail sales. Meanwhile, Otago slipped to third, ending its long streak of scoreboard wins, despite Queenstown's ongoing tourism strength. In contrast, Wellington ranked 15th for the third consecutive quarter, with Auckland in 10th place. While inflation is easing and interest rates have been cut, households are still feeling the squeeze. 'It's clear that the rural and urban economies seem to be moving at different speeds across the country,' says Tuffley. 'It's regional New Zealand, particularly the food and fibre sector, that's doing the hard work of pulling the national economy forward. Meanwhile, places like Wellington continue to face a range of challenges including employment, construction and consumer confidence.' Looking ahead, ASB sees early signs of recovery emerging across the country, aided by the Reserve Bank's 225 basis points of OCR cuts to date. However, global uncertainty continues to cast a shadow over the pace and strength of that recovery. The full ASB Regional Economic Scoreboard, along with other recent ASB reports covering a range of commentary, can be accessed at our ASB Economic Insights page: @ASBBank @ASBMarkets About the ASB Regional Economic Scoreboard The NZ Regional Economic Scoreboard takes the latest quarterly regional statistics and ranks the economic performance of New Zealand's 16 Regional Council areas. The fastest growing regions gain the highest ratings, and a good performance by the national economy raises the ratings of all regions. Ratings are updated every three months, and are based on 8 measures, including population, employment, retail trade, house prices, house sales, construction, consumer confidence, and new car registration. ASB Bank Helping you get one step ahead. In 1847, ASB opened as the Auckland Savings Bank with the pledge: 'to serve the community; to grow and to help Kiwis grow'. And that is very much what ASB is about today. ASB is a leading provider of integrated financial services in New Zealand including retail, business and rural banking, funds management and insurance. ASB strives to consistently provide its customers with outstanding service and innovative financial solutions. They're dedicated to providing simple financial products that allow their customers to bank with them how and when they want. We all have our own ways to measure progress, and our own stories about the things that matter to us. Whatever way you choose to measure progress, and whatever your goals, ASB is there to help you get one step ahead.
ABC News
06-05-2025
- ABC News
Police clock teen e-bike riders going 120kph on Gold Coast Highway
Police say they have clocked two teenagers going 120kph on an e-bike on the Gold Coast, but they have not been charged. The boys, 16 and 17, were allegedly spotted on an electric dirt bike on Sundale Bridge in Southport at 1am on Saturday while doing wheelstands and riding erratically. With the police helicopter watching overhead, officers did not stop the bike until it ran out of battery and they moved in. A Queensland police spokesperson said no formal charges had been laid against either teenager, but investigations were continuing. "Officers continue to review all available vision to establish who committed the alleged offences," the spokesperson said in a statement. Gold Coast police officer Jason Tuffley said the kind of bike used by the pair could not be registered. Queensland Police Service (QPS) says e-bikes are becoming increasingly problematic. ( ABC News ) "They can reach incredible speeds, however they're not registered and riders don't have a licence to operate them on the road," Acting Superintendent Tuffley said. " They are for all intents and purposes a trail bike. " Urgent need for parliamentary inquiry The Queensland government last week announced a parliamentary inquiry into the use of e-scoters and e-bikes to improve safety and address community concerns about their rise in popularity. A similar inquiry in New South Wales earlier this year found Eight Queenslanders died in e-bike and e-scooter incidents last year. Injuries associated with their use have skyrocketed in recent years. Superintendent Tuffley said Queensland's inquiry was urgently needed as police were doing all they could to deal with a rapid rise in the number of e-vehicles. He said it was a complex issue. "The riders are typically juveniles who are not licensed or qualified to travel at that speed on the roads," he said. "And it is not in police or community interest to pursue a juvenile operating one of these vehicles. "The problems are only going to increase if it's not addressed." Technological approach Gold Coast Mayor Tom Tate said he was disappointed e-bike riders continued to flout road rules. He said it appeared police and lawmakers were fighting a losing battle with existing legislation and it was time for a technological approach. "We should insist on every single e-bike having speed control, meaning that when they hit certain areas there's a maximum speed they can go," Councillor Tate said. Tom Tate wants e-bikes to be speed-limited in some areas of the Gold Coast. ( ABC Gold Coast: Steve Keen ) "It might be that together with the state government that in certain areas the maximum speed is 20 kilometres per hour and when they [e-bike riders] get into that zone the speed comes straight down. " That's the sort of technology we've got to do because to put other legislation in, they [e-bike riders] will just keep going. " He said e-bike riders were "taking their life in their hands" when riding at high speeds and suggested introducing riders to crash and trauma victims as part of an education program. "That, and an advertising campaign — a shock one — that has a truthful, shocking attitude that shows you're not just going to harm yourself, but you're going to harm other people too," Cr Tate said.
Yahoo
16-03-2025
- Business
- Yahoo
Companies join forces to raise $1.5 billion for Amazon protection: 'The difference between success and failure'
Two of the largest environmental nonprofits and a carbon market project developer have collaborated to launch a conservation initiative that will help preserve the Amazon rainforest. Silvania, a $500 million nature and biodiversity investment vehicle backed by Swiss trading company Mercuria, initiated its first major campaign in conjunction with Conservation International and The Nature Conservancy, and it's called the Race to Belém. It was announced in late January during the World Economic Forum's annual meeting in Davos and hopes to raise $1.5 billion from the private sector ahead of COP30 in Belém, Brazil, in November. According to a news release, the Race to Belém will work with "Indigenous peoples, local and traditional communities, farmers, as well as state and federal government to reduce deforestation at scale." It will sell jurisdictional reducing emissions from deforestation and forest degradation in developing countries, or JREDD+, credits. The Brazilian state of Tocantins has already established a JREDD+ program and will be the first to scale thanks to the Race to Belém. Additionally, Silvania has committed up to $100 million to jump-start the program by matching every tonne purchased by a Brazilian state with a dollar in upfront capital. The initiative will deploy the capital immediately and roll out additional phases over the next three to five years. Race to Belém CEO Keith Tuffley told Reuters that prices for the carbon credits will be negotiated with prospective investors, leading to potentially hundreds of millions of tonnes in carbon savings. "The consensus is that private sector engagement is now more critical than ever. The urgency to address climate challenges has only increased, and the Race to Belém highlights this by calling for transformative private investments," Tuffley said. Though the legitimacy of carbon markets has been questioned, their goal is to allow companies or individuals to purchase carbon credits from entities that will offset their planet-warming gas production by reducing, sequestering, and avoiding pollution. Do you think America does a good job of protecting its natural beauty? Definitely Only in some areas No way I'm not sure Click your choice to see results and speak your mind. The Amazon is one of the most vital ecosystems in the world, harboring 30% of Earth's species and holding 20% of all freshwater. It also acts as a carbon sink for the planet and is a source of many foods and pharmaceuticals. However, deforestation has destroyed over 54.2 million hectares in the last two decades, and continued degradation could result in severe repercussions both regionally and globally. While the Amazon has a long road to recovery, restoration efforts by government officials and researchers have helped mitigate the years of abuse the rainforest has suffered. "High-integrity jurisdictional credits offer a foundational tool for flipping the economic script at the scale we need, providing critical resources for Indigenous peoples and local communities who steward these lands," Conservation International CEO M. Sanjayan said. "We have 10 months until we unite in the heart of the Amazon at a defining moment for people and the planet, and upfront capital will be the difference between success and failure," The Nature Conservancy CEO Jennifer Morris added. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
