Banking and Finance – ASB makes further drops to interest rates

Source: ASB

ASB has today reduced five of its fixed home lending rates by up to 16 basis points, including two of its most popular terms.

ASB’s Executive General Manager Personal Banking Adam Boyd says “We know there are many New Zealanders looking to refix their mortgage or take on the significant title of homeowner this year, and we’re pleased to support them with lower rates. Those considering our 12-month fixed home loan will be paying 2.50% less interest than they would have been 18 months ago. On a loan of $500,000, this reduction in interest translates to an extra $12,500 a year which will make a real difference to many households across the country.”

ASB also reduced some term deposit rates by between 5 and 20 basis points.

All rate decreases are effective immediately.

 

  Fixed home lending term

Previous rate

New rate

Rate decrease

6-month

5.45%

5.29%

– 16 bps

1-year

4.95%

4.89%

– 6 bps

3-year

5.15%

5.09%

– 6 bps

4-year

5.59%

5.49%

– 10 bps

 

Banking Appointments – ASB appoints Frank Jasper as Chief Investment Officer

Source: ASB

 

ASB has appointed Frank Jasper to the new role of Chief Investment Officer (CIO), strengthening ASB’s in-house investment management expertise.

 

Frank has a proven track record of success as an investment manager, including time as a Senior Portfolio Manager and then Chief Investment Officer at Fisher Funds, with more than 20 years of experience in the industry.

 

Frank will work closely with ASB investment partner, BlackRock, which will see clients continue to benefit from BlackRock’s global reach, expertise, and proven performance.

 

“I look forward to building on ASB’s strong investment track record, working alongside BlackRock to continue to deliver strong returns for our clients in a rapidly changing environment.

 

Delivering strong investment returns is only part of the puzzle to unlock greater wealth for Kiwi. I am very passionate about helping our clients, and all New Zealanders, to feel empowered to make better investment decisions, which will have a great long-term impact on their finances.” says Frank.

 

ASB General Manager Wealth Emma-Jayne Liddy says Frank is a fantastic addition to the ASB team, bringing valuable experience and perspective both from his role on our Investment Committee and beyond, and is joining at a critical time for this part of the business.

 

“It’s an exciting time for our Wealth business. We are proud of our strong investment track record, with the Morningstar KiwiSaver Survey placing our 12-month returns in the top quartile across all our diversified funds as at 31 March 2025. Additionally, the MJW 2025 Investment Survey has placed us in first place for one-year returns, across our Growth, Balanced and Moderate KiwiSaver funds, and we were also a finalist for Fund Manager of the year for 2025 in the Morningstar Awards for Investing Excellence. We want to continue building on this success for our clients.

 

With a volatile market, the recent changes to KiwiSaver announced by the Government, and an uncertain geopolitical environment, it’s important for our clients and all New Zealanders to have confidence in their investments.

 

We have a big role to play here and we’re looking forward to Frank’s leadership and expertise to help set the business up to deliver on its ambition.” says Emma-Jayne.

 

Frank Jasper started in his new role in June 2025. Alongside his new role as ASB CIO, Frank will continue as a member of the ASB Investment Committee, which he has been a part of since 2022.

Energy Sector – Ten years on: Young energy leaders raise the profile

Source: BusinessNZ

New Zealand’s brightest young energy professionals are focused on raising their collective voice and bringing the energy sector closer together.
After a decade of fostering connection and careers within the energy sector, the Young Energy Professionals Network (YEPN) welcomes two new co-Chairs, Beca’s Industrial Energy Lead Andrew Wallace and Aurecon’s Lead Energy Consultant Danielle Manners.
Manners says she wants the professionals she represents to feel heard within the sector.
“Having ‘young’ in the title shouldn’t detract from the real value we bring to industry. Our members have proven themselves to be a switched-on bunch, who are eager to grow and collaborate together. 
“There is so much enthusiasm, potential and fresh thinking that we can harness to really transform the energy sector.”
Her fellow Chairperson Wallace says he’s keen to further elevate the YEPN as a collaborative leader within the energy sector.
“The challenges and opportunities in front of us, including the hard conversations around energy, are best tackled together. I can't wait to see what we can achieve as we engage with those currently in the network and those who will join us along the way.”
In a joint statement, outgoing co-Chairs Esther Evening and Elliott Powell say the network has grown significantly over their three years at the helm.
“It has been especially rewarding to see YEPN play a role in shaping career pathways, supporting high school and university engagement, and encouraging young people to consider a future in energy.
“The strength of the network today reflects the passion and commitment of the volunteers who have helped make it what it is, and we are proud to have been part of that journey.”
The YEPN was established by the BusinessNZ Energy Council (BEC) in 2015. Executive Director Tina Schirr says leading the YEPN is a strong commitment to the energy sector, and it’s incredible to see new Chairs eager to step up.
“Both Andrew and Danielle are welcome additions to the legacy of the YEPN, bringing fresh insights, new direction, and the kind of leadership needed to tackle energy issues of today.
“BEC thanks Esther and Elliott for their contributions and wishes a warm welcome to Danielle and Andrew. Ten years on, we are thrilled with the YEPN initiative and excited to see what’s next for this innovative group.”
Notes:
– The YEPN is a network designed to upskill its members through knowledge sharing and collaboration within the energy sector
– BEC is New Zealand’s only member organisation of the World Energy Council

Te Kuaka Condemns Illegal US Strike on Iran and calls on NZ to pledge non-participation in a US-led war on Iran

Source: Te Kuaka Spokesperson, Dr Arama Rata

Te Kuaka, an independent organisation advocating for a progressive and principled New Zealand foreign policy, expresses grave concern over the United States' unprovoked bombing of Iranian nuclear facilities. This attack constitutes a clear violation of international law and the sovereignty of states.

This act of aggression was conducted without United Nations authorisation or credible justification under international law and risks catastrophic regional escalation. Furthermore, the US Constitution reserves war powers to Congress, making this attack an alarming breach of US democratic process.

New Zealand can play a role in the world by upholding peace, multilateralism, and international law. We call on the New Zealand government to take the following actions:

  1. Publicly condemn this unlawful military strike and demand an immediate de-escalation.

  2. Commit to no involvement, whether direct or indirect, in US military action against Iran.

  3. Immediately withdraw NZDF personnel from the US-led Red Sea operation.

  4. Pursue diplomatic solutions through the UN rather than unilateral aggression.

  5. Call for other states to denounce these acts as a violation of international law and a challenge to fundamental principles of state conduct within the UN system.

New Zealand demonstrated moral leadership when it refused to join the illegal 2003 invasion of Iraq. This principled stand upheld our nation's commitment to international law and independent foreign policy. Today, we face a similar test of our values. Just as we rejected participation in that disastrous war, New Zealand must again resist pressure to support unlawful US military action.

Te Kuaka urges the government to uphold an independent foreign policy that prioritises peace, human rights, and international law over militarism and aggression.

Advocacy – US starts new horror show for Israel – PSNA

Source: Palestine Solidarity Network Aotearoa (PSNA)

The Palestine Solidarity Network Aotearoa is calling out for New Zealanders to condemn the US bombing of Iran.

PSNA Co-Chair, Maher Nazzal, says he hopes, but does not expect, that the New Zealand government will be critical of the US for its war escalation.

“Israel has once again hoodwinked the United States into fighting Israel’s wars.

“Israel’s Prime Minister has declared Iran to be on the point of producing nuclear weapons since the 1990s.  It’s all part of his big plan for expulsion of Palestinians from Palestine to create a Greater Israel, and regime change for the entire region.”

“Israel knows Arab and European countries will fall in behind these plans and in many cases actually help implement them.”

“It is a dreadful day for the Palestinians.  Netanyahu’s forces will be turned back onto them in Gaza and the West Bank.”

“It is just as dreadful day for the whole Middle East.  Trump has tried to add Iran to the disasters of US foreign policy in Iraq, Syria and Afghanistan.  The US simply doesn’t care how many people will die.”

Maher Nazzal
Co-Chair PSNA

Advocates – Palestine Forum Condemns Desecration of Palestinian Flag by Destiny Church Supporters

Statement from the Palestine Forum of New Zealand

The Palestine Forum of New Zealand condemns in the strongest terms the disgraceful and provocative act committed by individuals associated with Destiny Church, who tore up a Palestinian flag and stomped on it. This shameful display is not only deeply offensive to the Palestinian people but also to all those who uphold the values of dignity, justice, and the right to national identity.

Such hateful and divisive actions have no place in Aotearoa New Zealand — a country built on principles of diversity, mutual respect, and the protection of all communities' rights to peaceful expression. The Palestinian flag represents resilience, heritage, and a legitimate struggle for freedom and justice.

We call on community leaders, human rights advocates, faith communities, and all fair-minded New Zealanders to reject this behaviour and stand in solidarity with the Palestinian people against acts of hatred, provocation, and intolerance.

Palestine Forum of New Zealand
Justice, Dignity, Freedom.

Global survey finds 8 out of 10 people support taxing oil and gas corporations to pay for climate damages

Source: Oxfam Aotearoa

A majority of people believe governments must tax oil, gas and coal corporations for climate-related loss and damage, and that their government is not doing enough to counter the influence on politics of the super-rich and polluting industries. These are the key findings of a global survey, which reflects broad consensus across political affiliations, income levels and age groups. Today’s study, which was jointly commissioned by Greenpeace International and Oxfam International, was launched at the Bonn UN climate meetings (SB62 16-26 June), where governments are discussing key climate policy priorities, including ways to mobilize at least US $1.3 trillion annually in climate finance for Global South countries by 2035. The poll was conducted across 13 countries, including most G7 countries. The study, run by Dynata, comes with additional research by Oxfam showing that a polluter profits tax on 590 oil, gas and coal companies could raise up to US $400 billion in its first year. This is equivalent to the estimated annual costs of climate damage in the Global South. Loss and damage costs from climate change to the Global South are estimated to reach between $290bn to $580bn annually by 2030.
Key findings of the survey include:
  • 81% of people surveyed support new taxes on the oil, coal and gas industry to pay for damages caused by fossil-fuel driven climate disasters like storms, floods, droughts and wildfires.
  • 86% of people in surveyed countries support channelling revenues from higher taxes on oil and gas corporations towards communities who are most impacted by the climate crisis. Climate change is disproportionately hitting people in Global South countries, who are historically least responsible for greenhouse gas emissions.
  • When asked who should be taxed to pay for helping survivors of fossil-fuel driven climate disasters, 66% of people across countries surveyed think it should be oil and gas companies compared to than 5% who support taxes on working people, 9% on goods people buy, and 20% in favour of business taxes.
  • 68% felt that the fossil fuel industry and the super-rich had a negative influence on politics in their country. 77% say they would be more willing to support a political candidate who prioritises taxing the super-rich and the fossil fuel industry. 
Oxfam’s research finds that 585 of the world’s largest and most polluting fossil fuel companies made $583 billion in profits in 2024, a 68% increase since 2019. The annual emissions of 340 of these corporations (for whom data was available) accounted for over half of global greenhouse gas emissions caused by humans. Their emissions in just one year are enough to cause 2.7 million heat-related deaths over the next century. A polluter profits tax on these companies would ensure that renewable energy is more profitable than fossil fuels, encouraging companies to invest in renewables, as well as avoid more deaths driven by fossil fuelled climate change. This new tax must be accompanied by higher taxes on the super-rich and other polluting companies. Governments should impose such taxes nationally and engage positively at the UN to ensure a fair global tax agreement.
Nick Henry, Climate Justice Lead for Oxfam Aotearoa, said: “This new poll shows that people support Oxfam’s call for our leaders to make polluting corporations pay for the damage they cause to our climate.”
“People understand that storms, floods, drought, wildfires, and other extreme weather events are being fuelled by oil and gas corporations. Instead of leaving communities exposed to deal with these devastating costs alone, governments can unlock huge sums of money to invest in climate solutions through making dirty energy companies pay,” said Rebecca Newsom, Global Political Lead for Greenpeace’s Stop Drilling, Start Paying campaign. “The Polluters Pay Pact unites communities on the frontlines of climate disasters, concerned citizens, first responders like firefighters and humanitarian groups around the world to call on politicians to act now through making polluters, not people, pay for climate damages.”  
Amitabh Behar, Executive Director of Oxfam International, said: “Mega-rich coal, oil and gas companies have known for decades about the damage their polluting products wreak on humanity. Corporations continue to cash in on climate devastation, and their profiteering destroys the lives and livelihoods of millions of women, men and children, predominantly those in the Global South who have done the least to cause the climate crisis. Governments must listen to their people and hold rich polluters responsible for their damages. A new tax on polluting industries could provide immediate and significant support to climate-vulnerable countries and finally incentivise investment in renewables and a just transition.”
Nick Henry continued: “Rather than subsidising new oil and gas drilling, and fast-tracking coal mines, our Government should be holding fossil fuel companies responsible for the costs facing our communities to adapt to climate change.”
NOTES:
  • The research was conducted by market research company Dynata in May-June, 2025, in Brazil, Canada, France, Germany, Kenya, Italy, India, Mexico, the Philippines, South Africa, Spain, the UK and the US. Together, these countries represent close to half the world’s population. Results available here.
  • Oxfam’s polluter profits tax model is explained in this blog and methodology note attached. The methodology note also explains the basis for the emissions of fossil fuel companies and their impacts on heat-related deaths. These deaths were calculated on the basis of emissions in 2023. 

Health – New drug report shows record need for harm reduction and support services

Source: NZ Drug Foundation Te Puna Whakaiti Pāmamae Kai Whakapiri

A new report that pulls together the most recent data on drug consumption, prevalence of use, price and availability shows illicit drug use continues to steadily increase across the board, with the NZ Drug Foundation warning that investment in harm reduction, early intervention and support hasn’t kept pace. (ref. https://drugfoundation.us3.list-manage.com/track/click?u=12b1eb03b683b7209e15a8fcb&id=94b2792155&e=19a223383c )

The Foundation’s latest annual Drug use in Aotearoa report for 2023/24 shows sharp increases in methamphetamine and cocaine consumption, and an uptick in frequency of use.

Drug Foundation Executive Director Sarah Helm says the report underlines the need for greater investment in harm reduction and support services.

“This report shows there is more need than ever for accessible harm reduction information and early intervention so that we can help people prevent issues before they arise,” she says.

“The sharp increase in cocaine and methamphetamine use has happened against the backdrop of long-term under-investment in addiction services and the sector is now under intense strain. We urgently need to turn that around.”

While New Zealand has historically seen low levels of cocaine use, consumption increased 229% in 2024 compared with the previous three years’ average. Methamphetamine use increased 74% over the same period.

Helm says the report also shows that people are using cocaine and methamphetamine more often.

“Information from the NZ Drug Tr

India: Stop unlawful deportations and protect Rohingya refugees – Amnesty International

Source: Amnesty International

The Indian government must immediately halt all deportations of Rohingya men, women and children, recognize them as refugees and treat them with the dignity and protection they deserve under international human rights law, Amnesty International said ahead of World Refugee Day.  

In just the last month, the Indian authorities allegedly deported at least 40 Rohingya refugees, including children and older people, by forcing them off a naval ship and giving them life jackets before abandoning them in international waters near Myanmar. In a separate incident, authorities also forced over 100 Rohingya refugees across the border into Bangladesh.

“From Zoroastrians and Tibetans to Afghans, Bangladeshis and Sri Lankan Tamils, India has long been a sanctuary for those fleeing persecution. But the Government of India’s recent actions which includes dumping Rohingya refugees at sea and forcefully deporting refugees without following any due procedure, unfortunately betrays this proud tradition. History will remember how the government chose to treat the persecuted when they knocked on our door for safety,” said Aakar Patel, chair of the board of Amnesty International India.

 

“The Indian government treats us like criminals”

On 8 May, Indian authorities detained at least 40 Rohingya refugees living in Delhi, many of whom held identification documents issued by the UN Refugee Agency (UNHCR), according to their relatives who spoke with Amnesty International. The refugees were then blindfolded, flown to the far-off Andaman and Nicobar Islands, and transferred onto an Indian naval vessel.

In the Andaman Sea, the refugees were allegedly given life jackets and forced into the water, leaving them with no choice but to attempt to swim to an island in Myanmar's territory. Speaking to Amnesty International, a relative of one of the Rohingya refugees said, “Once they reached ashore, they called us using the phone of a fisherman… After that we haven’t heard from them. We are very worried about their safety.” While the refugees are believed to have reached the shore safely, their current location and condition remain unknown.

A few days later, over 100 Rohingya refugees detained at the Matia Transit Detention Centre in Assam, the largest such facility in India, were transported by bus and then forced across the eastern border into Bangladesh, reportedly without being granted access to any formal legal process or asylum review.

On 17 May, two Rohingya refugees filed a petition urging India’s Supreme Court to intervene and immediately halt further deportations. However, the Supreme Court dismissed the plea, with the judge questioning the credibility of the “beautifully crafted story” lacking substantive evidence, while criticizing the timing of the petition filed during the recent India-Pakistan conflict.

Speaking to Amnesty International on the condition of anonymity due to the fear of reprisal, a Rohingya refugee based in India said, “We are living in constant fear of being deported. Even though we hold UNHCR refugee cards, the Indian government treats us like criminals. In the past few months, so many of my relatives and fri

Matariki – Matariki Message from HM King Charles III

Matariki Message from HM King Charles III
Source: New Zealand Government House – for  HM King Charles III
E mihi ana ki a Matariki mā Puanga.
My wife and I send our warmest greetings to all those in Aotearoa New Zealand celebrating Matariki, the Māori New Year. This year, I particularly acknowledge those iwi and regions that look to the star Puanga, or Rigel, to signal the New Year.
The rising of Matariki and Puanga on the Eastern horizon heralds a time to reflect on the past, to remember absent loved ones and to prepare for a prosperous future. It also marks a time where many different peoples and communities come together in celebration, united under the same night sky.
Regardless of how, or whether, one marks the lunar calendar, this moment offers an opportunity to learn and share knowledge, and to embrace the diverse traditions that shape Aotearoa New Zealand’s unique identity.
I wish you all a bright year ahead. Mānawatia a Matariki.
CHARLES R.