AGP Executive Report
Last update: 7 hours agoBanking: The Reserve Bank registered Revolut as New Zealand’s 27th bank and first digital-only bank. It plans to invest $120 million locally and offer savings accounts protected by the Depositor Compensation Scheme, adding a new challenger to the major lenders. Renewables: Auckland-based Lightyears secured $174 million in Japanese and Australian backing for its solar platform, including a $100 million lending facility and investment from Obayashi. Dairy: Production hit a record of more than 2 billion kilograms of milksolids, while strong demand prompted Fonterra to raise its milk-price forecast. Power investment: The Energy Competition Task Force wants tighter scrutiny of $600 million to $700 million in electricity network projects, warning a single project could add $200 to $300 a year to some households’ bills. Business efficiency: MBIE will trial a digital business passport with Westpac customers, aiming to cut paperwork and speed up identity checks.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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