AGP Executive Report
Last update: 8 hours agoAged Care: Heritage Lifecare has bought New Zealand Aged Care Services in a reported $100m-plus deal, making it the country’s second-largest aged-care provider, subject to Overseas Investment Office approval. Markets: The NZX 50 fell 0.6% as Asian markets sold off; Auckland Airport and interest-rate-sensitive stocks weighed, while SkyCity rose after securing the right to apply for an online casino licence. Gambling Regulation: Eleven operators advanced in the licensing auction, which set the price at $15m per licence; approval is not guaranteed. Trade: India’s trade agreements, including a deal with New Zealand expected to take effect from 2027, could add up to $170bn to India’s GDP by 2035, Bloomberg Economics estimates. China has also signalled interest in deeper services and clean-energy cooperation with New Zealand. Business Costs: A study warns rising use of AI-powered search could cost New Zealand firms $300m. Economic Outlook: Home values fell 1.5% in the third quarter, while the kiwi dollar sank to levels last seen in 2009; traffic data points to a patchy recovery.
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