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New Zealand has recently implemented new visa rules that allow foreign visitors to work remotely while in the country, aiming to attract highly skilled individuals, particularly IT workers from Southeast Asia and the US. The government hopes that these changes will position New Zealand as a welcoming destination for global talent. While the new rules take effect immediately, visitors working for more than 90 days may face tax implications. This initiative is part of New Zealand's efforts to revive its economy by leveraging tourism, which is a significant contributor to the nation's revenue and job creation. [Extracted from the article]

New Zealand is planning changes to its "golden visa" program to attract more wealthy immigrants who invest in the country. The program, which historically brought in an average of NZ$1 billion a year, has seen a decline in applications due to rule changes in 2022. The government aims to emphasize the need for foreign capital to achieve economic objectives and recognizes the value that investor migrants bring beyond just money. Discussions are ongoing about potential reforms to the visa program, including the possibility of allowing foreigners to buy expensive houses if they also invest in the country. [Extracted from the article]

President-elect Donald Trump's nomination of Jared Isaacman, a financial technology executive with ties to SpaceX founder Elon Musk, as the new head of NASA has been welcomed by Rocket Lab USA Inc. CEO Peter Beck. Beck believes that having an astronaut lead the space agency is beneficial due to the industry knowledge and passion they bring. Rocket Lab, the second-most prolific American launcher, has seen investor optimism and stock price increases following the election, with recent contracts with NASA for missions to Mars and space-grade solar cell production. [Extracted from the article]

Australian billionaire Richard White has settled an out-of-court legal case with wellness entrepreneur Linda Rogan, whom he pursued for bankruptcy. White, the CEO of WiseTech Global Ltd., faced allegations of expecting sexual favors in exchange for business investments. The settlement comes amidst increased scrutiny of White's alleged inappropriate behavior, leading to a 15% drop in WiseTech's shares. The case has garnered significant attention from Sydney's business elite. [Extracted from the article]

The article discusses the scandal surrounding Australian billionaire Richard White, CEO of WiseTech Global Ltd., who is facing allegations of inappropriate behavior with women. The case involving his alleged former lover, Linda Rogan, was settled out of court, leading to a significant drop in White's wealth. The situation has raised concerns among investors and impacted the company's reputation, with the stock price plummeting. Despite White's successful business ventures, his personal conduct has come under scrutiny, affecting both his fortune and the company's standing in the market. [Extracted from the article]

The article from Bloomberg.com discusses the scandal surrounding Australian billionaire Richard White, the CEO of WiseTech Global Ltd., who is facing allegations of inappropriate behavior with women. The revelations from a court battle with an alleged former lover have caused WiseTech's shares to plunge 15%, wiping $2.9 billion from White's fortune. The situation has raised concerns among investors and experts about the impact on the company's reputation and the challenges faced by the board in addressing the allegations. [Extracted from the article]

The New Zealand government has been advised by the antitrust watchdog to provide state-owned Kiwibank with more capital in order to increase competition in the banking sector. The Commerce Commission's final report states that the nation's four largest banks, all of which are Australian-owned, do not face strong competition in personal banking services. The Commission recommends capitalizing Kiwibank to create a disruptive competitor in the sector, and also suggests that the government consider adopting open banking as a long-term solution. The inquiry was initiated due to concerns about excessive profits made by the main lenders while New Zealanders faced rising living costs. [Extracted from the article]

Australian super funds have expressed support for Prime Minister Anthony Albanese's plan to stimulate green manufacturing industries, stating that it would attract private capital and aid in reducing emissions. The proposed Future Made in Australia bill aims to promote domestic manufacturing and high-tech industries, similar to the US's Inflation Reduction Act. However, the bill's passage is contingent on the support of the Greens, who are concerned about public funding for fossil fuels. [Extracted from the article]

A significant number of New Zealanders are leaving their country to move to Australia due to better pay and lower living costs. In 2023, almost 1% of New Zealand's population, or 44,534 people, relocated to Australia. The net migration loss, taking into account Australians moving to New Zealand, was 27,011, the highest since 2013. The two countries have taken different approaches to the post-pandemic cost-of-living crisis, with New Zealand experiencing a double-dip recession and Australia focusing on a soft landing for its economy. The higher wages and relocation packages offered in Australia, along with the ease of starting a job without a visa requirement, have attracted many New Zealanders. This migration has helped address Australia's skills shortages but has left essential services in New Zealand, such as hospitals, understaffed. The struggling economy, weak job market, and high cost of living in New Zealand have also pushed young people to seek opportunities in Australia. [Extracted from the article]

Defending Olympic women's football champions Canada have been accused of using a drone to spy on the New Zealand team ahead of the Paris Games. The incident occurred during a training session in France, and the New Zealand team reported it to the police. Canada has apologized and is conducting a review with the International Olympic Committee. Espionage in sports is not uncommon, as teams and athletes often seek ways to gain an advantage. [Extracted from the article]

Guzman y Gomez, a Mexican-themed fast-food chain, was founded in 2006 by Steven Marks and Robert Hazan in Sydney, Australia. The chain has since expanded to have 185 restaurants in Australia, 17 in Singapore, five in Japan, and four in the US. The company recently went public on the Australian Securities Exchange with a valuation of A$2.2 billion. Despite some skepticism from analysts about its valuation, Guzman y Gomez plans to continue expanding and aims to have 1,000 restaurants in Australia. [Extracted from the article]

New Zealand's efforts to combat climate change by planting more trees have been met with controversy and mixed results. A government watchdog, along with international agencies and environmental advocates, is calling for a radical overhaul of the country's forestry development incentives, arguing that afforestation should not be used as a cheap way to offset fossil fuel emissions. While New Zealand has added significant forested areas since 2019, the growth has encroached on farmland and caused environmental damage. Experts also argue that continually planting more forests is not a long-term solution to reducing CO2 emissions. The government is considering revisions to the emissions trading scheme to address concerns about land use change, but limiting forestry credits is not currently being considered. One potential solution proposed by the watchdog is using forests to offset methane emissions from livestock, as methane has a shorter lifespan in the atmosphere compared to carbon dioxide. [Extracted from the article]

The New Zealand government is being urged by the country's antitrust watchdog to increase Kiwibank's access to capital in order to create more competition in the banking market. Currently, the market is dominated by four major Australian-owned lenders who prioritize maintaining profit margins. The lack of a disruptive force in the market leads to sporadic and unsustainable competition between these major players. The Commerce Commission also recommends that the Reserve Bank review its prudential capital settings to ensure fair competition and that open banking be fully operational by mid-2026. The draft report is subject to consultation before a final report is published in August. [Extracted from the article]

New Zealand has implemented travel bans on "extremist Israeli settlers" who commit violent attacks against Palestinians in the West Bank. The country views Israeli settlements in the occupied Palestinian territories as a violation of international law and a hindrance to a two-state solution. This move aligns New Zealand with the US and the UK, who have also taken action against Israeli settlers involved in violence. Additionally, New Zealand has designated Hamas, including its political wing, as a terrorist entity following a massacre in Israel. [Extracted from the article]

ANZ Group Holdings Ltd. has successfully overturned a decision by the Australian Competition and Consumer Commission (ACCC) to block its $3.2 billion purchase of Suncorp Group Ltd.'s banking arm. The Australian Competition Tribunal ruled that the acquisition would not substantially lessen competition and would provide net public benefits. The deal still requires final approval from the Queensland state government and Treasurer Jim Chalmers. ANZ CEO Shayne Elliott believes the acquisition will bring significant opportunities for ANZ, Suncorp Bank, and their customers, as well as major public benefits for Queensland. [Extracted from the article]

Nick O'Kane, the head of commodities at Macquarie Group Ltd., will be stepping down from his position later this month. O'Kane, who earned more than top Wall Street executives such as Jamie Dimon and Jane Fraser, will be leaving to pursue opportunities outside of Macquarie. Simon Wright, the current head of the financial markets unit, will replace him. O'Kane's departure was unexpected, and Macquarie's shares fell as a result. The bank stated that O'Kane made a significant contribution and is leaving for personal reasons. [Extracted from the article]

This article provides a comparison of the cost of living in five major financial hubs in the Asia Pacific region: Tokyo, Hong Kong, Shanghai, Sydney, and Singapore. Tokyo ranks highest in terms of cost of living, with relatively low international school fees and steady rents. Hong Kong comes in second place, followed by Shanghai and Sydney. Singapore, despite being the most expensive city, has attracted wealthy individuals due to its low tax rates and reputation for safety. The article also includes information on salaries, taxes, dining options, and other factors that contribute to the cost of living in each city. [Extracted from the article]

Bitcoin has experienced a significant increase in value this year, surpassing stocks and gold. This comes after a period of volatility for the cryptocurrency industry, with notable figures facing legal issues and fines. The recent surge in Bitcoin's price is attributed to expectations of interest rate cuts by the Federal Reserve and the anticipation of greater demand from exchange-traded funds. Additionally, the upcoming Bitcoin halving event, where the rewards for miners are reduced, is also driving the price. However, there are concerns about potential setbacks, such as changes in interest rate expectations or complications with planned ETFs. Experts have varying opinions on Bitcoin, with some predicting further growth and others expressing skepticism. [Extracted from the article]

Top officials from New Zealand's central bank, including Reserve Bank Governor Adrian Orr, had a positive meeting with the new National Party-led coalition government. The meeting focused on the near-term outlook for the economy and the central bank's goal of reducing inflation. This meeting was highly anticipated due to previous tensions between Orr and the National Party. The new government plans to strip the central bank of its dual mandate and return it to a sole focus on inflation, and the central bank will continue to use Māori language in its communications despite the government's plans to curb its use. [Extracted from the article]

Australia's cost-of-living crisis is affecting even high-income households, according to data from financial comparison site Finder. The survey found that 34% of households earning at least A$150,000 are cutting back on expenses, such as avoiding bars and pubs, reducing vacations, and spending less on non-essentials. Even gym memberships are being cut back by 17% of high-income households. The rising cost of living, surging inflation, and interest rate hikes have led to financial stress for many Australians, including those with mortgages. This crisis is not unique to Australia, as similar cost-of-living issues are being seen in other wealthy countries as well. [Extracted from the article]

Australia's cricket team has won the World Cup, defeating India in a thrilling match. The victory earned Australia $4 million in prize money, while India received $2 million. This win adds to Australia's impressive collection of cricket titles, as they currently hold the ICC World Test Championship, the Men's Cricket World Cup, the Women's World Cup, and the T20 World Cup. The Australian media praised batsman Travis Head for his outstanding performance in the match. [Extracted from the article]

Australia's cricket team has achieved a remarkable year by winning the Cricket World Cup against India. The team's victory was unexpected, as India was the favorite to win. This win adds to Australia's previous successes in the ICC Men's Cricket World Cup and the World Test Championship. The Australian women's team also holds the ICC Women's World Cup and T20 World Cup trophies. The captain of the Australian team, Pat Cummins, described the win as the "pinnacle" of international cricket. The media has praised batsman Travis Head for his outstanding performance in the match. [Extracted from the article]

(Bloomberg) -- New Zealand's center-right political parties have begun to jockey for position as Prime Minister-elect Christopher Luxon prepares to enter talks to form a coalition government. "It's better for the center-right parties to be working together in government rather than having New Zealand First outside, where they could turn into one of National's biggest opponents.". [Extracted from the article]

(Bloomberg) -- One thing's certain in New Zealand politics - you can never discount Winston Peters. New Zealand's switch to a proportional representation electoral system in 1996 played into Peters' hands, giving smaller players a better chance of getting more seats in parliament. [Extracted from the article]

Te Pati Maori rode a wave of discontent stemming from the Labour government's handling of co-governance, which polarized voters. In a fifth Maori electorate, Labour's Deputy Leader Kelvin Davis has only a slim majority over Te Pati Maori's Mariameno Kapa-Kingi, which may be over-turned as votes from overseas or made in other electorates are counted in coming days. Te Pati Maori took four of the seven Maori electorate seats, which are traditionally held by the Labour Party, with more than 90% of results counted. [Extracted from the article]

"I think they really need to unleash the private sector much more to really capture productivity growth", Park said at an Asia Society event in Melbourne on Wednesday. (Bloomberg) -- China needs to do more to allow the private sector to create productivity growth, Asian Development Bank Chief Economist Albert Park said, adding that the slowdown in the world's second biggest economy was a combination of cyclical and structural issues. China Should "Unleash" Private Sector to Lift Productivity: ADB. [Extracted from the article]

(Bloomberg) -- A man strolls out of a New Zealand supermarket carrying bags stuffed with nine stolen legs of lamb. Shoplifting and retail theft in New Zealand increased 45% in 2022 compared with 2021, according to figures released by police this month, which includes theft reported directly to them and through Auror. [Extracted from the article]

(Bloomberg) -- In practice debates before previous New Zealand elections, Nicola Willis used to play the role of formidable female politicians. She acted the parts of Helen Clark and Jacinda Ardern when preparing the leaders of her National Party for their head-to-head clashes during the 2008 and 2017 campaigns. Willis has stood by the policy and said last week she would resign as finance minister if National failed to deliver tax relief. [Extracted from the article]