MIL Email Publisher (NZ)

Source: Te Kāhui Tika Tangata Human Rights Commission

Aotearoa New Zealand can be a society where digital technologies support dignity, equality, and participation for all.

As artificial intelligence (AI) becomes increasingly embedded in everyday life, the Human Rights Commission is calling for a human rights and Te Tiriti o Waitangi-based approach to ensure these technologies serve people fairly, transparently and responsibly.

Today the Commission releases its report, AI and Digital Technologies: A Human Rights and Te Tiriti o Waitangi Approach, which outlines how Aotearoa New Zealand can harness the benefits of emerging technologies while protecting people's rights and freedoms.

Chief Human Rights Commissioner Dr Stephen Rainbow says decisions being made today will shape New Zealand's digital future for generations.

“The question is not whether we use AI, but how we use it. We have an opportunity now to build systems that respect human rights and ensure the widest possible access to the benefits of AI. Getting this right will help unlock the benefits of technology and build the public trust and confidence essential to the adoption of AI.”

The report provides a foundation for policy development, practical action and public dialogue on how AI can be adopted, used and governed in ways that respect human rights, honour Te Tiriti o Waitangi and ensure the widest possible benefits to society. It also highlights that New Zealand does not need to start from scratch when responding to AI. Existing human rights protections, domestic legislation, international standards, and Te Tiriti o Waitangi already provide strong foundations for governance and accountability of AI.

The report emphasises the importance of Indigenous rights and Māori participation in decisions about digital technologies, data and AI governance.

Rongomau Taketake Indigenous Rights Governance Partner Dayle Takitimu says Te Tiriti o Waitangi provides essential guidance for New Zealand's approach.

“Māori, like all peoples, have the right to determine how data relating to their communities, interests and identities is collected, used, governed and protected. As AI systems increasingly draw on language, knowledge and data, it is critical that Māori rights, interests and authority are respected.

“A Te Tiriti-based approach is not simply about managing risk. It is about recognising tino rangatiratanga, protecting taonga, and ensuring Māori are active partners in shaping Aotearoa's digital future. If we get this right, we can create technology that benefits everyone while honouring our constitutional foundations.”

Dr Rainbow says that while these technologies can create significant benefits, there are also significant risks including the amplification discrimination, a lack of transparency and accountability as well as risks to privacy and lack of access to redress.

“People have a right to know when technology is being used to make decisions about them, what information is being used, and how they can challenge those decisions. Human rights are not a barrier to innovation. They are the foundation for innovation that people can trust.”

The Commission says a human rights approach provides a practical pathway for balancing innovation with protection, ensuring technology works for people and communities, and building the public trust necessary for AI to be used in a way that can benefit all of us.

To learn more and to download a copy of the report or its executive summary, visit the Human Rights Commission website.

Te Kāhui Tika Tangata Human Rights Commission offers a free and confidential information and dispute resolution service.

Go to the Human Rights Commission complaints page for more information.

Source: New Zealand Nurses Organisation

Dozens of NZNO’s Total Care Health North Island members will hold a full withdrawal of labour strike on Friday 7 August from 8.30am to 4.30pm. The pickets take place in Hamilton, Auckland and Havelock North (Hawke's Bay).

Working under the ACC Nursing Services Contract for Total Care Health by Access, they provide essential care to patients with complex health needs and those requiring wound care under ACC criteria.

NZNO delegate and Total Care nurse, Krystal Lewis, says:

“Our nurses are on the road up to seven days a week, travelling far and wide to assess, treat, support, and prevent clients from requiring hospital admission. They deliver highly skilled, compassionate care in people's homes, often in challenging and isolated environments.

“Despite the vital role we play in keeping people well and reducing pressure on hospitals, our value is not reflected by our employer. We remain the lowest-paid community nursing workforce, despite the complexity, responsibility, and flexibility our roles demand.”

Auckland

When: 10.30am – 11.30pm, Friday 7 August

Where: 24 Manukau Road, Epsom

Hamilton

When: 11.30am – 12 noon, Friday 7 August

Where: 133 Collingwood Street, Hamilton East

Havelock North

When: 11am – 12 noon, Friday 7 August

Where: 3 Martin Place, Havelock North

Source: deVere Group

AI investors should follow three priorities for the rest of 2026, warns the CEO of one of the world's largest independent financial advisory organisations, as sharp swings are exposing which parts of the AI trade are built on real demand and which are not.

Nigel Green of deVere Group's comments come as this year's AI rally is splintering sharply, and this week is making the reason for urgency unmistakable.

Global AI investment is projected to exceed $2.5 trillion in 2026, yet the disconnect between roughly $400 billion in infrastructure spending and only around $100 billion in enterprise AI revenue has become impossible to ignore.

A recent Bank of America fund manager survey found 45% of respondents now flag an AI bubble as the market's greatest tail risk, up from just 11% a few months earlier, with more than half saying they believe AI stocks are already trading in bubble territory.

“The pattern is on full display this week, and it is exactly why investors cannot afford to wait for clarity before adjusting their approach,” says the deVere CEO.

“Asian stocks slipped on Thursday as a recent tech-led rally on Wall Street paused, with the MSCI Asia Pacific Index down 0.2% and South Korea's Kospi falling 1%.

“The S&P 500 pulled back from a record high, and an index of semiconductor stocks lost more than 1%, even as Nvidia itself advanced.

SpaceX tumbled 14% despite posting strong earnings, ahead of the release of roughly $101 billion of shares becoming available for trading Thursday.

One session captured the whole story: strong results still triggering a sharp share-price fall, and a broadly steady chip sector still unable to prevent a sector-wide pullback.

The same split has shown up repeatedly in recent weeks.

Nvidia shares fell 5% in a single session after reports it was pursuing a payment guarantee of up to $250 billion for OpenAI's data centre lease, alongside discussions for up to $350 billion in additional financing, pushing the company's market cap below Apple's for the first time in over a year. Its five-year credit default swap premium surged by the largest single-day amount on record on the news.

SK Hynix posted record quarterly revenue, up 257% year-over-year with a 76% operating margin, and still fell 9% on the earnings call, underscoring how quickly sentiment has turned even for companies delivering strong results.

Nigel Green says this is the moment investors need to stop treating the AI trade as settled and start applying real scrutiny.

“Markets are no longer giving AI companies the benefit of the doubt just because they are spending heavily,” he says. “What happened this week, and in the previous weeks, should be a wake-up call. Strong earnings did nothing to stop a 14% single-day fall. This only happens when investors have already decided that headline growth is not enough on its own anymore.

“Waiting for more certainty before adjusting positioning is itself a risk now.”

He sets out three priorities investors should apply to the AI trade through year-end.

1. Differentiate within the sector rather than treating it as one bet.

Micron, Applied Materials, and Cisco have each posted genuine earnings strength this year on the back of real component shortages and cloud-provider demand, with Cisco raising its 2026 revenue guidance to $62.8 to $63.0 billion on solid AI data-center orders. This stands in sharp contrast to companies whose growth increasingly depends on vendor financing arrangements between suppliers and their own customers.

“The AI trade stopped being a single story months ago, and treating it as one is the fastest way to get this wrong,” Nigel Green explains.

“Some companies are seeing real, measurable demand for the physical components that power this build-out. Others are increasingly reliant on complex financing arrangements to sustain their growth narrative.

“Lumping them together in one portfolio decision is no longer defensible.”

2. Watch balance sheets, not just growth stories.

SpaceX has erased roughly $1.2 trillion in market value since its record-setting June IPO, sitting 47% below its June 16 closing high, pressured by lock-up expirations, Starship test setbacks, and now a fresh $101 billion share unlock landing squarely on an already battered stock.

Meanwhile, Alphabet, Amazon, Meta, and Microsoft's collective 2026 capital expenditure is set to jump 77% to a record $725 billion, well above the $500 billion analysts originally expected, against a combined contractual backlog across the group of roughly $2.1 trillion.

“The stocks under the most pressure this year aren't simply the ones spending the most on AI infrastructure,” notes Nigel Green.

“They're the ones carrying the largest financing entanglements and debt-guarantee exposure. Investors screening for growth alone, without looking at what sits underneath it, are missing the signal that actually matters right now.”

3. Expect volatility around each earnings date rather than a steady trend.

The price-to-earnings ratio has climbed above 40, a level last seen before the dot-com crash, and this week's 14% swing in SpaceX shares on strong earnings, not weak ones, shows exactly how easily financing can unlock events and overwhelm fundamentals in the short term.

“This year has taught investors that AI-adjacent stocks can move 5% to 10%, and sometimes considerably more, in a single session on financing news alone, in either direction,” Nigel Green says.

“Investors need to size positions accordingly, because waiting for a calmer market before adjusting exposure is not a realistic strategy right now.

“Sharp single-day moves around individual earnings dates are very different from a gradual repricing of the sector, and the two need to be told apart urgently.”

Nigel Green concludes that the investors who move decisively now, rather than waiting for the picture to become fully clear, will be the ones best positioned through year-end.

“The investors who do well for the rest of 2026 are likely to be the ones who stopped asking whether AI as a sector is a good bet months ago.

“The more useful question is which parts of the AI trade are built on real demand and which are built on financing structures that still need to prove themselves.

“Getting that distinction right, and acting on it sooner rather than later, is the work in front of every investor holding AI exposure today.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

Source: Cotality NZ

Thursday 6 August 2026

Interest rates, credit rules, and shifting buyer behaviour are inextricably entwined with the health of the housing market. In line with the recent slowdown in property sales activity, mortgage lending has lost significant momentum – with growth dipping near zero in May and June marking a nearly three-year low. Below, we break down 10 key trends currently shaping the market.

Interest-only (I-O) lending remains ‘under control’. At around 14% of new loans to owner-occupiers in June and 28% to investors (by value), I-O activity is running at its lowest levels for more than a decade. This could signal reduced willingness by banks to lend on this basis and/or reduced demand for it, but it also shows that people aren’t generally needing to look at I-O finance to assist with cashflow pressures.

Repayment problems are low. Another indicator showing that households are generally managing to keep up with their debt commitments is that only 0.6% of the value of outstanding loans is ‘non-performing’ (either 90+ days overdue or considered impaired by the bank, i.e. that they won’t recover at least some of the interest or principal). This is around half the level seen after the GFC.

Banks’ allowances for bad debts have eased downwards. As a proportion of all outstanding loans, RBNZ figures suggest an industry-wide bad debt provision worth about 0.21%, back down to late 2022 levels.

The loan to value ratio rules are not a major restraint right now. In June around 16% of lending to owner-occupiers was done at less than 20% deposit, well below the cap of 25% and even the banks’ potentially self-enforced threshold of 20%.

First home buyers continue to take full advantage of conditions. Even though we’re operating below the overall LVR caps, FHBs are still ploughing in, accounting for around 70% of all low-deposit/high LVR lending in June – or put another way 55% of all FHB loans are being done at less than 20% deposit (or greater than 80% LVR).

Investors may be nearing the limit for low-deposit finance. Nearly 5% of lending to investors in June was done below 30% deposit (>70% LVR), which is a lot less than owner-occupiers/FHBs, but still testing the speed limit for investors of 10% officially or, of more relevance, the banks’ own self-enforced limit of perhaps 5%.

Serviceability testing is a bigger factor than debt to income limits. Recently only around 10% of lending has been done at high DTIs (after exemptions, such as new-builds), well below the speed limit of 20%. In other words, anyone finding they can’t get a loan is probably being turned down because of banks’ own internal affordability assessments (e.g. could the borrower afford the loan at a theoretical rate of perhaps 7%) rather than the official credit rules themselves.

Loan choices are getting longer. In late 2024, less than 10% of new loans were being fixed beyond 12 months and that number was still less than 20% as recently as November 2025. But it’s jumped up to the mid-50%’s for the past five months (with the two-year rate very popular), as borrowers look to protect against any further interest rate increases in a world of higher inflation and heightened uncertainty. The shift longer will generally be applying to people re-fixing existing mortgages as they roll over too.

Existing borrowers are still shopping around. Meanwhile, given that 10% of current loans are floating and 30% are fixed but due to reprice within the next six months, there’s still quite a bit of flexibility to switch lenders – and often take an attractive cashback incentive. Aside from the switching/refi bonanza in December 2025 when all the banks offered 1.5% cash, June’s figure of $2.3bn remained the highest since July last year (and the fourth highest on record back to 2017).

NZ’s LVR is low but it’s concentrated. Recently the stock of outstanding mortgages went above $400bn for the first time, having only gone above $300bn as recently as December 2020. Compared with our estimate of the value of NZ’s housing stock (almost $1.7trn), mortgage debt is low – or ‘paper equity’ is high. But for the estimated one-third of households that carry all of that debt, the swings and roundabouts of mortgage rates and credit policy are more acute.

Looking ahead, with interest rates potentially coming under renewed upwards pressure in the next few months, overall new lending activity may remain in a slowdown. But at least repayment stresses are at a low base, and first home buyers look likely to remain a fruitful group for lenders. The constant need to retain existing borrowers as their fixed rates expire will be a focus, while simultaneously competing to win market share from rival banks.

Source: GlobalData

6 August 2026

Following the Reserve Bank of India’s decision on 05 August 2026 to keep the repo rate unchanged at 5.25% with a neutral stance;

Jaison Davis, Economic Research Analyst at GlobalData, a leading intelligence and productivity platform, provides his perspective:

“This is a deliberate pause, and the RBI can afford it. Inflation is set to rise in the near term. The RBI reads that rise as food- and fuel-led and temporary. A hold at 5.25% avoids tightening into an economy that is already absorbing an external demand shock. The neutral stance is the smart choice. It keeps the option to cut later if growth slows. It also avoids a signal that could unsettle the rupee or the bond market.

“GlobalData sees India’s real GDP growth at 6.66% in 2026 and 6.68% in 2027, and inflation at 4.77% in 2026 and 4.47% in 2027. Inflation stays above the RBI’s 4% target, but it is not out of control. Growth is still strong. That mix supports a steady rate rather than a cut.”

“The growth outlook is the harder call. The US tariff on Indian goods now stands at 18%. That is down from a peak of 50%, but it still weighs on exporters. Sectors such as textiles, gems and jewellery, leather and auto components are the most exposed. They make up more than half of India’s exports to the US. The RBI is keeping rate cuts in reserve until this drag becomes clearer.

“The external side also argues for caution. The rupee has been near record lows this year. It fell to 96.84 against the dollar in May. Foreign investors withdrew about $13.7 billion. Oil is another risk. GlobalData warned in March that the Gulf conflict could push oil toward $100 a barrel. Brent then peaked near $126, and it is firming again. A cut now would widen rate gaps and add pressure on the rupee. That would be a poor trade.

“From here, the main question is how long the pressure lasts. If inflation peaks in the third quarter as expected and growth cools, a cut could come in the second half of FY27. If food, fuel or the rupee spring a surprise, the hold will last longer. For businesses and borrowers, the message is simple. Plan for the repo rate to stay at 5.25% for now. Do not assume the next move is a cut.”

GlobalData is watching three triggers for follow-up analysis. The first is the US and Iran talks. A firm deal would calm the Strait of Hormuz and ease oil and inflation pressure. A breakdown would do the reverse. The second is US tariff policy on pharmaceuticals. The sector is exempt today. Taxing it would hit one of India’s strongest export lines. The third is AI adoption by India’s top IT firms. If it displaces entry-level jobs, weaker wages and spending could push the RBI toward a cut over time.

GlobalData Plc (LSE:DATA) operates an intelligence platform that empowers leaders to act decisively in a world of complexity and change. By uniting proprietary data, human expertise, and purpose-built AI into a single, connected platform, we help organizations see what is coming, move faster, and lead with confidence. Our solutions are used by over 5,000 organizations across the world’s largest industries, providing tailored intelligence that supports strategic planning, innovation, risk management, and sustainable growth.

Source: Royal New Zealand Returned and Services’ Association

6 August 2026

The Royal New Zealand RSA is calling on the Government to provide greater, sustained funding for New Zealand Defence Force remuneration, saying investment in people must keep pace with New Zealand's defence ambitions.

The RNZRSA welcomes the additional funding provided for Defence pay through Budget 2026. However, the average 2.2 per cent pay increase announced on Friday is well below annual inflation of 4.1 per cent. For most serving personnel, the increase has therefore not kept pace with rising prices, leaving them worse off in real terms.

RNZRSA National President Tony Hill said the Government must adequately fund the NZDF to recruit, retain and properly remunerate the people needed to deliver its growing capability.

“Ships, aircraft and technology only become defence capability when there are enough trained and experienced people to operate and maintain them,” Mr Hill said.

“Military personnel step up and accept obligations well beyond those found in most workplaces, including postings, separation from family, irregular hours, injury or worse, and the liability to serve wherever New Zealand needs them. Their remuneration should properly reflect that commitment.”

The recent pay increase provided larger targeted increases for colonel-equivalent and brigadier-equivalent personnel, whose remuneration was assessed as being around 33 per cent below relevant market benchmarks. Mr Hill said addressing that gap may have been necessary to retain experienced senior leaders, but the outcome would understandably be difficult for junior personnel to accept.

“Senior leadership takes many years to develop and retain, but junior personnel are also essential to the capability of the NZDF,” Mr Hill said.

“It is difficult for them to see larger increases directed elsewhere while their own pay is going backwards against the cost of living.”

The targeted increases have taken an important step towards correcting the significant market imbalance affecting senior military leaders. The RNZRSA is now calling on the Government to turn its attention to improving remuneration for junior personnel, experienced non-commissioned officers and critical technical and specialist roles, where pay pressures risk undermining retention and adding to existing workforce gaps.

It is also asking the Government to ensure workforce planning sits alongside major capability investment, so new ships, aircraft, technology and infrastructure are matched by the people needed to operate and sustain them.

The RNZRSA is seeking greater transparency around remuneration decisions and market comparisons, action on pay compression, completion of wider reforms already identified by NZDF, and a review of accommodation assistance to ensure rising housing costs do not further disadvantage serving personnel.

“The Government has set a welcome ambition to build a stronger Defence Force. It must now properly fund the people required to deliver it,” Mr Hill said.

“A fairer and more sustainable remuneration system will strengthen recruitment, retention and readiness across the NZDF. Defence capability starts with its people.”

Source: New Zealand Nurses Organisation

Dozens of NZNO’s Total Care Health North Island members will hold a full withdrawal of labour strike on Friday 7 August from 8.30am to 4.30pm. The pickets take place in Hamilton, Auckland and Havelock North (Hawke's Bay).

Working under the ACC Nursing Services Contract for Total Care Health by Access, they provide essential care to patients with complex health needs and those requiring wound care under ACC criteria.

NZNO delegate and Total Care nurse, Krystal Lewis, says: “Our nurses are on the road up to seven days a week, travelling far and wide to assess, treat, support, and prevent clients from requiring hospital admission. They deliver highly skilled, compassionate care in people's homes, often in challenging and isolated environments.

“Despite the vital role we play in keeping people well and reducing pressure on hospitals, our value is not reflected by our employer. We remain the lowest-paid community nursing workforce, despite the complexity, responsibility, and flexibility our roles demand.”

Auckland

When: 10.30am – 11.30pm, Friday 7 August

Where: 24 Manukau Road, Epsom

Hamilton

When: 11.30am – 12 noon, Friday 7 August

Where: 133 Collingwood Street, Hamilton East

Havelock North

When: 11am – 12 noon, Friday 7 August

Where: 3 Martin Place, Havelock North

Source: Porirua City Council

Porirua City Council today voted to submit an amalgamation proposal based on a single unitary council, supported by strong community councils, but said a referendum should be included in the next steps.

The proposal was developed by councils in the Wellington region as part of Government’s Head Start process, as part of its Simplifying Local Government reforms.

At its meeting today, Porirua City Council added an amendment that a referendum should be held before the detailed design is submitted to Cabinet for decision.

The two-level model follows the principle that regional decisions would be made at unitary level, and local decisions by the community councils. It also includes mana whenua partnership arrangements at governance level, and Māori wards at both levels.

Porirua Mayor Anita Baker said her council believed this model would deliver the best outcomes for the city and the region.

“We support establishment of a single regional unitary council for the Wellington region, because it is the governance model best able to deliver long-term, affordable and sustainable services and outcomes for the communities, businesses and the environment of Porirua city and the wider region.

“The social, economic and environmental opportunities and challenges our city and region will face in the future (including the impacts of climate change), will require us to operate at an integrated, regional scale, and to strengthen the voice and participation of our local communities.”

The community councils would provide an important role in maintaining local voice and representation. Local service centres would be maintained in each community council area, with staff providing services out of these.

Importantly, submitting a proposal gave Porirua the opportunity to influence the shape of what happens next, Mayor Baker said.

“If we don’t submit a proposal, it essentially means the Government will decide our future through their backstop process and we have no influence. They might come up with a solution that doesn’t reflect our unique context, and local voice and representation could be lost.

“That would see other regions moving ahead while ours is left behind.

“I’m proud that our council has stayed at the table and stayed open. Having our iwi at the table is a non-negotiable – they were here before us and they’ll be here after us.”

Proposals from around the country are due to be submitted to the Government in the coming days, and Cabinet will then determine which of them move forward to detailed design phase. If successful, next steps will include refining the preferred governance option, further financial analysis, community consultation and engagement, and transition planning.

Mayor Baker said the next stage was the most important, and working together was key.

“If our proposal is selected, we are committed to working in partnership with mana whenua, our communities, other councils and the Government in the detailed design phase of Head Start.”

Source: Federated Farmers

Federated Farmers says today’s announcement of new industry-led secondary school subjects is a major win for New Zealand's future farming workforce.

“Farming is so important for New Zealand’s economic success, but often we struggle to meet our workforce needs,” Federated Farmers spokesperson Richard Dawkins says.

“The way we farm is constantly evolving with new technology and improved practices.

“That’s why we need young people joining our sector with relevant and practical skills.

“The Government’s launch of new subjects is incredibly positive, as they’ll help us build our future workforce and capability in a way that truly works for the sector.”

Dawkins says this kind of practical, industry-led approach is exactly what the sector had in mind when Te Pūkenga was disestablished.

“The formation of Industry Skills Boards was a significant step forward in reshaping and modernising New Zealand’s vocational education and training system,” he says.

“This is a logical next step that will create a clear pathway for young people from school into further vocational education, and then directly into the workforce.”

Supporting young farmers is one of Federated Farmers’ policy priorities for the 2026 election.

“We called for the Government to support practical and industry-led vocational training, and empower rural schools to teach agriculture,” Dawkins says.

“We also asked for practical industry experience, work-based learning and apprenticeship pathways to be built into vocational education.

“Today’s announcement delivers on all three of those asks – so we’re considering that a major win for farmers, rural communities and Federated Farmers’ advocacy.”

Federated Farmers has two other specific policy priorities that would help support young Kiwi farmers:

• Review the Sharemilking Agreements Act.
• Include agricultural and horticultural science within the year 0-10 science curriculum.

“We’ll continue advocating for this current Government – or whoever forms the next Government – to make those two things happen.

“Our primary sector is world-leading, but we need to make it easier and more attractive for young people to build rewarding careers in farming.

“The future of our farms, our rural communities and New Zealand’s economy depend on it.”

Source: Porirua City Council

Nominations for Porirua City Council’s Onepoto General Ward closed at midday today with a by-election to be held in October.

Five candidates have put themselves forward for election. They are, in alphabetical order, Joanne Dow, Caroline Mareko, Zac Painting, Siobhan Samuel and Jess Te Huia. The by-election follows the sudden passing of Onepoto Ward Councillor Mike Duncan.

Porirua’s Deputy Electoral Officer, Jack Marshall, says it’s now up to voters in the Onepoto General Ward to cast their votes for who will represent them around the Council table. “Local government is in a time of great change. The new Councillor will take part in critical decisions for the future of our city,” he says.

“We’ll be providing more information for voters in the coming weeks, with profiles of all candidates available on the Council’s website next week.” People who live in the Onepoto General Ward and are on the General Electoral Roll are eligible to vote in the Onepoto General Ward By-election. You can find out which suburbs in Porirua are in the ward in the information for voters section on our website.

It’s a great time to check you’re enrolled to vote. If you enrol after today, you will need to cast a special vote in the by-election. We’ll have more details on where you can do this in the coming weeks. Voting papers will begin to be delivered from 14 September, and must be in the hands of the Electoral Officer by 12 noon on Friday 16 October.