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  • MIL-OSI New Zealand: Feedback sought on roading changes around new Dunedin Hospital

    Source: New Zealand Transport Agency

    New Zealand Transport Agency Waka Kotahi (NZTA) has released proposed changes to reshape transport in central Dunedin and achieve safe and efficient access to the city’s new hospital.

    From today, people can have their say on the preferred option for State Highway 1 Cumberland Street and State Highway 88 St Andrew Street, both of which are key routes connecting people to the new Dunedin Hospital. The hospital’s main inpatient and outpatient public entrances will both open onto the intersection of these two streets.

    The proposed roading changes, developed in partnership with Dunedin City Council after previous rounds of community feedback, can be viewed in detail here.

    “The new hospital development is a once in a generation development for Dunedin. It presents an exciting opportunity to reshape the surrounding transport infrastructure to best serve the community,” says NZTA Director of Regional Relationships, Ian Duncan.

    “Up to 10,000 pedestrians will be walking in and around the new hospital facilities daily when open. Many of these people will be ill, elderly or vulnerable, so safety will be paramount. Access to the new hospital will need to cater for frequent pick-ups and drop-offs by vehicles, and for unimpeded access by emergency services.”

    “At the same time, these changes we have laid out are aimed at ensuring we continue to have good traffic flow for road users in and out of Dunedin’s CBD.”

    Proposed changes include the following:

    • A new Barnes Dance crossing (where all pedestrians cross the road at once) at the SH88 St Andrew Street/SH1 Cumberland Street intersection to help people reach the hospital public entrances safely. 
    • Removal of the westbound right turn from SH88 St Andrew Street onto SH1 Cumberland Street to make space and time for the increased number of pedestrians, including people with mobility needs, to cross the road.
    • Two new signalised pedestrian crossings on SH1 outside the Woolworths and the Centre City New World supermarkets.
    • Changes to St Andrew Street and other nearby streets to help people driving, walking and cycling, and emergency vehicles, move safely and smoothly around the hospital and surrounding area.
    • Frederick Street will become the new SH88, moving right turning traffic from St Andrew Street to other streets.

    “Some of the proposed changes will mean road users having to adapt to new ways of moving through the area, but we think these are practical and sensible moves to make it safe and efficient for everyone,” Mr Duncan says.

    “We intend to have clear signage and guidance in place when any changes are introduced to avoid confusion.”

    “The removal of the right turn from St Andrew Street onto SH1 for westbound traffic is seen as the only practical option to give pedestrians enough time to cross safely and to keep traffic flowing.’’   

    Removal of this right turn will mean Hanover and Frederick Streets are expected to become key alternative routes for light vehicles. Larger trucks are expected to use Ward Street and the overbridge onto Frederick Street as an alternative route.

    “Both Hanover and Frederick Streets can handle the expected changes in traffic volumes, and we don’t believe travel times are going to be greatly affected.”

    The proposed removal of a right turn on St Andrew Street will mean traffic will be spread across other routes.

    The proposed changes do have some impact upon car parking, such as on the north side of St Andrew Street near Dunedin Central Fire Station where roading improvements mean the loss of 14 parks. This will be partially offset by new parks in Harrow Street, and analysis of public parking available in the wider vicinity of the new hospital shows there are multiple off-road parking facilities available to be used in addition to provision being made at the hospital itself.

    The proposed changes for SH1 and SH88 build on earlier work in 2023, when the decision was made to keep Dunedin’s existing SH1 one-way system.

    Mr Duncan says public feedback on the current proposed changes will need to be considered before any work on the affected streets take place over the next few years.  

    People can view the proposed changes and give their feedback via an online form. Printed material with the proposed changes and feedback forms can be found in the next few days at Dunedin City Council libraries and service centres, and those not online can send their feedback to NZTA by post.

    View proposed changes and give feedback 

    Feedback closes on 28 July, 2025.

    MIL OSI New Zealand News –

  • MIL-OSI Europe: ECB commits to distributed ledger technology settlement plans with dual-track strategy

    Source: European Central Bank

    1 July 2025

    • Short-term track (Pontes) to pilot link between distributed ledger technology platforms and TARGET Services by end-2026
    • Long-term track (Appia) to shape future-ready, innovative, integrated financial ecosystems
    • Initiatives will deliver on Eurosystem’s continuing commitment to safe, efficient settlement in central bank money

    The ECB’s Governing Council has approved a plan that will enable settling distributed ledger technology (DLT) transactions using central bank money. The initiative follows a two-track approach: the first track “Pontes” provides a short-term offering to the market – including a pilot phase – and the second track “Appia” focuses on a potential long-term solution. The decision is in line with the Eurosystem’s commitment to supporting innovation without compromising on safety and efficiency in financial market infrastructures.

    Pontes will offer a Eurosystem DLT-based solution, linking DLT platforms and TARGET Services to settle transactions in central bank money. The Eurosystem plans to launch a pilot for Pontes by the end of the third quarter of 2026. It will offer a single Eurosystem solution which incorporates features used in the Eurosystem’s exploratory work on DLT in 2024. During the pilot, the Eurosystem will also explore the feasibility of further enhancements in line with the TARGET Services operational, legal and technical standards. Between now and the launch of the Pontes pilot, the Eurosystem will consider requests for further DLT-related trials and experiments.

    Appia focuses on a long-term approach for an innovative and integrated ecosystem in Europe that also facilitates safe and efficient operations at the global level. The Eurosystem will actively continue to analyse DLT-based solutions and collaborate with public and private stakeholders.

    To ensure continuous dialogue with the market, the Eurosystem will establish dedicated market contact groups for both Pontes and Appia. A call for expressions of interest in participating in the Pontes contact group will be published soon.

    Pontes and Appia will build on the Eurosystem’s exploratory work on new technologies for wholesale central bank money settlement, which was conducted between May and November 2024. In this exploratory work, 64 participants conducted over 50 trials and experiments. A dedicated report outlining the results of the exploratory work has been published today.

    For media queries, please contact Alessandro Speciale, tel.: +49 172 1670791.

    MIL OSI Europe News –

  • MIL-Evening Report: Trump demands an end to the war in Gaza – could a ceasefire be close?

    Source: The Conversation (Au and NZ) – By Marika Sosnowski, Postdoctoral research fellow, The University of Melbourne

    Anas-Mohammed/Shutterstock

    Hopes are rising that Israel and Hamas could be inching closer to a ceasefire in the 20-month war in Gaza.

    US President Donald Trump is urging progress, taking to social media to demand:

    MAKE THE DEAL IN GAZA. GET THE HOSTAGES BACK!!!

    Trump further raised expectations, saying there could be an agreement between Israel and Hamas “within the next week”.

    But what are the prospects for a genuine, lasting ceasefire in Gaza?

    Ceasefires are generally complicated to negotiate because they need to take into account competing demands and pressures. They usually (but not always) require both sides to compromise.

    Gaza is no exception. In a conflict that has been going on for more than 70 years, compromise and concession have become a game of cat and mouse.

    Israel is the cat that holds the military strength and the majority of the political power. Hamas is the mouse that can dart and delay, but in the end has little choice but to accept the terms of a ceasefire if it wants to halt the violence currently being inflicted on Palestinians.

    Trump the peacemaker?

    Trump appears buoyed by what he perceives as the recent success of his efforts to broker a truce in the Israel–Iran war. He may think he can use similar tactics to pressure Israeli Prime Minister Benjamin Netanyahu into making a ceasefire deal for Gaza.

    US President Donald Trump has posted on social media that Israeli Prime Minister Benjamin Netanyahu is negotiating a deal with Hamas ‘right now’.
    noamgalai/Shutterstock

    Netanyahu will return to Washington next week for talks at the White House. This is a good sign some US pressure is being brought to bear.

    Trump’s current push for a Gaza ceasefire may also signal he is keen for a return to the normalisation of economic ties previously delivered by the Abraham Accords between Israel and various Arab states. A ceasefire could unlock frozen regional relationships, potentially boosting the US economy (and Trump’s own personal wealth).

    Israeli opportunities

    Another positive sign a ceasefire may be on the cards is Netanyahu’s recent comments that the war with Iran had created opportunities for Israel in Gaza.

    During its 12-day war with Iran, Israel assassinated 30 Iranian security chiefs and 11 nuclear scientists. Iran’s weakened security apparatus might disrupt its support for Hamas and help advance Israeli objectives.

    Similar to what happened in Iran, this might enable Netanyahu to publicly declare Israeli victory in Gaza and agree to a ceasefire without losing face or political backing from his government’s right wing.

    Domestic Israeli politics have also played a role in the Gaza ceasefire negotiations. As part of the current round, Trump reportedly demanded the cancellation of Netanyahu’s ongoing trial on corruption charges. The idea is to enable Netanyahu to reach a ceasefire without the threat of criminal conviction, and potentially prison, awaiting him afterwards.

    Given there are no political or legal prescriptions or rules around what terms need to be included in a ceasefire, it is possible for such a demand to be made, although it is unclear how it would be accommodated by Israeli law.

    Difficult terms

    The current ceasefire deal, as proposed by Qatar and Egypt, seems to pick up where the deal negotiated in January fell apart – with a 60-day ceasefire.

    Reports suggest it requires Hamas’ leadership to go into exile and that four Arab states, including the United Arab Emirates and Egypt, would be tasked with jointly governing Gaza.

    Hamas has said for many months that it is open to a
    more permanent ceasefire deal that Israel has so far refused. However, the proposed terms appear too far-reaching to make it likely Hamas would accept them in their current form.

    The uptick in Israel’s military bombardment, as well as recent evacuation orders for parts of northern Gaza, suggest that even if there is a deal it may well mean Israel retains permanent territorial control of the northern Gaza Strip.

    As part of any ceasefire, it also seems likely Israel would retain control over all Gaza crossings.

    This, and the ongoing highly problematic promotion by Israel and the United States of the Gaza Humanitarian Foundation as the only organisation authorised to deliver and administer aid in Gaza, will be difficult for Hamas, and Palestinians, to accept.

    Displaced Palestinians carrying bags of flour distributed by the controversial Gaza Humanitarian Foundation.
    Haitham Imad/Shutterstock

    There have also been reports a deal would enable Gazans wishing to emigrate to be absorbed by several as-yet-unnamed countries. Such a term would continue the Trump administration’s earlier calls for the forced displacement of Palestinians from Gaza, as well as Israel’s insistence such displacement would be a humanitarian initiative rather than a war crime.

    It would also not be the first time the terms of a ceasefire were used to forcibly displace civilian populations.

    Hope for the future?

    Many dynamics are wrapped up in getting to a ceasefire in Gaza.

    They include US allyship and pressure, domestic Israeli politics, and the recent war between Israel and Iran. There is also the international opprobrium of Israel’s actions in Gaza which, for public (if not legal) purposes, amount to a genocide.

    Ideally, any negotiated ceasefire would have detailed terms to ensure the parties know what they should do and when. Detailed terms would also enable international actors and other third parties to denounce any violations of the deal.

    However, a ceasefire would only ever be a short-term win. In the best case, it would enable a reduction in violence and an increase of aid into Gaza, and the release of Israeli hostages and Palestinian prisoners.

    However, amid the deep-seated sense of injustice and anxiety in the region, any ceasefire that does not address historic oppression and is forced on the parties would inevitably have deleterious consequences in the months and years to come.

    Marika Sosnowski does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Trump demands an end to the war in Gaza – could a ceasefire be close? – https://theconversation.com/trump-demands-an-end-to-the-war-in-gaza-could-a-ceasefire-be-close-260185

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: What are police allowed to do at protests and who keeps them in check?

    Source: The Conversation (Au and NZ) – By Kelly Hine, Senior Lecturer in Criminology, University of the Sunshine Coast

    Earlier this week, former Greens candidate Hannah Thomas was hospitalised with serious injuries after being arrested at a protest in Sydney. This incident sparked public outcry, raising questions about the limits of police power and what happens when things go wrong.

    Protests are becoming more common and more intense across Australia and worldwide. This surge stems from growing social and political concerns.

    The right to peacefully protest is a fundamental aspect of democratic societies. It gives people the freedom to gather, speak out, and push for change.

    But that right is not unlimited and can be subject to certain restrictions. While the public has a right to protest, police have a responsibility to ensure the safety of everyone involved including protesters, bystanders and officers. Maintaining public order and respecting the right to peaceful assembly is a balance.

    So, what exactly are police allowed to do at protests? And if someone is hurt in the process, who is responsible, and who keeps police in check?

    Why do things go wrong at protests?

    Peaceful protesting is lawful in Australia and people have the right to gather and express their views. But that doesn’t mean anything goes.

    If someone’s behaviour at a protest threatens public safety or breaches the law, police have a responsibility to intervene, and individuals can be charged with an offence.

    Protests are emotionally charged events. Some groups may come to protests already hostile, especially those with strong anti-authority views or past negative experiences with police. In turn, this can increase the risk of confrontation from the outset.

    Often protests are driven by a shared sense of injustice. This can build strong group identity and solidarity among protesters, but it can also intensify resistance towards police who are seen as symbols of authority.

    When people act as part of a crowd, emotions can spread quickly. In these settings, individuals may feel less personally responsible for their actions and behave more impulsively or aggressively.

    At the same time, police responses play a big role in how protests unfold. Tactics that are seen as heavy-handed (like blocking movement or using force) can heighten tensions and lead to confrontation.

    In contrast, strategies focused on communication and de-escalation are more likely to calm things down and prevent violence.

    Typically, protests don’t turn violent on their own. Instead, it’s a mix of crowd dynamics and police response that often determines the outcome.

    What powers do police have at protests?

    Police have wide-ranging powers to respond to protests to prevent behaviour escalation. A person does not need to be committing an offence for police to exercise powers during a protest. Police consider the behaviour of individual protesters, or the risk they’re perceived to pose, rather than waiting for a specific law to be broken.

    While the specific laws differ between states and territories in Australia, there are several common features.

    Police can tell community members to move on in some circumstances. If a protester is in a public place and causing disruption, interfering with others, endangering others or being disorderly, police can direct that person to leave. An offence does not need to be committed for police to direct community members to move on.

    Where a person does not follow a police officer’s lawful direction, they are contravening the law and can be arrested.

    However, move-on powers are limited when there is a peaceful protest. Police cannot direct a person to move on just because they are peacefully protesting something, picketing or publicly sharing their views (such as speaking loudly or carrying a sign).

    States and territories have also criminalised certain behaviour related to protests. For example, it is unlawful to harass, intimidate or threaten a person accessing a place of worship in New South Wales.

    Police can use force to maintain peace or prevent violence. The force used must only be “reasonably necessary”. This means police can only use the minimum amount of force needed that is proportionate to the event.

    It might be appropriate for police to restrain a protester using their hands or handcuffs and individual circumstances will be relevant to whether use of force is permitted. Lethal force, though, would not be permitted against a protester unless a protester was endangering the life of another person.

    Injuries can occur during police arrests. It has been alleged that Hannah Thomas’ injury arising during her arrest was the result of “excessive use of force”. However, just because a person is injured during an arrest does not automatically mean a police officer acted inappropriately.

    Who holds police accountable if someone gets hurt?

    Where concerns arise about police behaviour during a protest (including the use of force or other actions), there are different ways police can be held accountable.

    Policing organisations have internal processes for investigating police conduct. Each policing organisation has a professional or ethical standards unit that investigates allegations of conduct.

    But integrity bodies have flagged police investigating police can perpetuate potentially problematic “cover up behaviours that can mask police misconduct”.

    Australia’s states and territories also have independent statutory organisations which target crime and corruption in the public service. These are generally corruption or integrity commissions and apply to all public service workers, including police officers. The relevant ombudsman can also assist to resolve complaints.

    Community members can also sue a policing organisation for injuries they sustained during an arrest.

    What’s the right balance?

    Protest is a democratic right, but it also presents real public safety challenges.

    Police face genuine risks and have a difficult job managing dynamic and often unpredictable situations.

    They need certain powers to do their job, but those powers must come with strong accountability. If police exceed their power, it damages public trust and can escalate tensions further.

    Good policing practices mean talking to protest organisers early, keeping communication clear, using de-escalation tactics and responding proportionally to individuals – not treating the whole crowd the same.

    Protesters also play a role by staying peaceful, notifying police of a protest, knowing their rights, and helping to de-escalate tensions. The goal should always be to protect everyone. This includes protesters, police and the general public.

    Dominique is a former police officer who was previously employed by the Queensland Police Service.

    Hena Prince and Kelly Hine do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. What are police allowed to do at protests and who keeps them in check? – https://theconversation.com/what-are-police-allowed-to-do-at-protests-and-who-keeps-them-in-check-260096

    MIL OSI Analysis – EveningReport.nz –

  • Trump suggests DOGE look at Musk’s companies to save money

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump suggested on Tuesday that his efficiency department should take a look at the subsidies that Tesla CEO Elon Musk’s companies have received in order to save the federal government “BIG” money.

    Trump’s comments come after billionaire Elon Musk renewed his criticism on Monday of Trump’s sweeping tax-cut and spending bill, vowing to unseat lawmakers who backed it after campaigning on limiting government spending.

    “Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa. No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!,” Trump said in a post on Truth Social.

    In response to Trump’s post, Musk, in his own social media platform X, said “I am literally saying CUT IT ALL. Now.”

    After weeks of relative silence following a feud with Trump over the legislation, Musk rejoined the debate on Saturday as the Senate took up the package, calling it “utterly insane and destructive” in a post on social media platform X.

    On Monday, he ramped up his criticism, saying lawmakers who had campaigned on cutting spending but backed the bill “should hang their heads in shame!”

    “And they will lose their primary next year if it is the last thing I do on this Earth,” Musk said.

    The Tesla and SpaceX CEO called again for a new political party, saying the bill’s massive spending indicated “that we live in a one-party country – the PORKY PIG PARTY!!”

    “Time for a new political party that actually cares about the people,” he wrote.

    Musk’s criticism of the bill has caused a rift in his relationship with Trump, marking a dramatic shift after the tech billionaire spent nearly $300 million on Trump’s re-election campaign and led the administration’s controversial Department of Government Efficiency (DOGE), a federal cost-cutting initiative.

    Musk, the world’s richest man, has argued that the legislation would greatly increase the national debt and erase the savings he says he has achieved through DOGE.

    It remains unclear how much sway Musk has over Congress or what effect his opinions might have on the bill’s passage. But Republicans have expressed concern that his on-again, off-again feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.

    The rift has also led to volatility for Tesla, with shares of the company seeing wild price swings that erased approximately $150 billion of its market value, though it has since recovered.

    – Reuters

  • MIL-OSI Russia: China imposes sanctions on former Philippine Senator Francis Tolentino

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, July 1 (Xinhua) — China has decided to impose sanctions on former Philippine Senator Francis Tolentino for his despicable behavior on China-related issues and ban him from entering the Chinese mainland, Hong Kong Special Administrative Region and Macao Special Administrative Region, a Foreign Ministry spokesperson said Tuesday.

    For some time now, some anti-China politicians in the Philippines, guided by selfish motives, have made malicious remarks and actions on issues directly related to China, thereby causing harm to the interests of the PRC and China-Philippine relations, the official said.

    The Foreign Ministry stressed that the Chinese government is unwavering in its determination to protect national sovereignty, security and development interests. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: China National Space Administration releases images of Earth and Moon taken by Tianwen-2 probe

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, July 1 (Xinhua) — The China National Space Administration (CNSA) on Tuesday released images of the Earth and the Moon taken in orbit by the Tianwen-2 probe.

    The narrow-field navigation sensor on Tianwen-2 recently captured images of our planet and its natural satellite, showing good performance, the CNSA said.

    The released images include a photograph of Earth taken by Tianwen-2 from a distance of approximately 590,000 km from the planet, as well as a photograph of the Moon taken at the same distance. After transmission to Earth, these images were processed by scientific personnel.

    At the moment, Tianwen-2 has been in orbit for more than 33 days. It is separated from the Earth by more than 12 million km. All the probe systems are operating normally, the CNSA reported.

    The 10-year Tianwen-2 mission has several goals: collecting samples from the near-Earth asteroid 2016HO3 and studying the main-belt comet 311P, which is farther from Earth than Mars. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Shanghai Stock Exchange and AIX Sign MoU on Cooperation

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, July 1 (Xinhua) — The Shanghai Stock Exchange and AIX (Astana International Exchange) on Monday signed a memorandum of understanding on cooperation, aiming to further strengthen bilateral cooperation and exchanges between the two capital markets.

    As the Zhongguo Zhengquanbao newspaper writes, citing a representative of the Shanghai Stock Exchange, in 2017 the exchange agreed on cooperation with the Kazakhstan International Financial Center Astana and joined the AIX share. By now, AIX has formed a full-fledged infrastructure and a system of market rules, and has also achieved certain results in attracting issuers and investors.

    The signing of the memorandum will promote exchanges and cooperation between the two sides in the fields of information exchange, marketing and product development. It will also lay a solid foundation for cooperation in the capital markets of both countries to support the joint construction of the Belt and Road.

    Under the guidance of the China Securities Regulatory Commission, the Shanghai Stock Exchange will continue to deepen exchanges and cooperation with AIX and the capital market of Kazakhstan. At the same time, it will continuously expand the scope of external communication, steadily promote diversified cooperation with overseas exchanges, so as to promote high-quality opening of the capital market. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: In the first half of 2025, the total box office revenue of Chinese films exceeded 29 billion yuan.

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, July 1 (Xinhua) — China’s film market will continue to grow at a rapid pace in 2025. In the first half of the year, China’s box office revenue was 29.23 billion yuan (about 4.09 billion U.S. dollars), up 22.91 percent year on year, according to data released Tuesday by the National Film Administration. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: UN Security Council Extends Mandate of UN Peacekeeping Forces in Golan Heights

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    UNITED NATIONS, July 1 (Xinhua) — The United Nations Security Council on Monday unanimously adopted a resolution extending the mandate of the United Nations Disengagement Observer Force (UNDOF) in the Golan Heights for six months, until December 31, 2025.

    Resolution 2782 emphasizes the obligation of both Israel and Syria to fully comply with the terms of the 1974 ceasefire and calls on them to exercise maximum restraint and prevent any violations of the ceasefire and the area of separation, or buffer zone.

    The document requires the Secretary-General of the world organization to ensure that UNDOF has all the necessary capabilities and resources to carry out its mandate safely and properly.

    UNDOF was established in May 1974 following the agreed disengagement of Israeli and Syrian forces on the Golan Heights, which ended the 1973 Yom Kippur War. It is tasked with maintaining the ceasefire between Israel and Syria. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Spanish PM calls for inclusive multilateralism at Financing for Development conference

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    SEVILLE, Spain, July 1 (Xinhua) — Spanish Prime Minister Pedro Sanchez on Monday called for inclusive and strong multilateralism at the opening of the fourth International Conference on Financing for Development here in southern Spain.

    P. Sanchez, who is also the conference chair, said that in the current global context, inclusive and strong multilateralism is especially needed and the UN should be at its core.

    He called on delegates to translate slogans into action, resolve differences through unity and build trust through dialogue.

    Noting that two-thirds of the UN Sustainable Development Goals were behind schedule, UN Secretary-General António Guterres said at the opening of the session that the conference would take action in three areas – accelerating the flow of funds, reforming the international debt system and increasing the participation of developing countries in the institutions of the international financial system.

    The conference, dedicated to global development finance, will run until Thursday and will bring together representatives from governments, international organizations, financial institutions, businesses and other entities. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: G7 calls for resumption of Iran nuclear talks

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    OTTAWA, July 1 (Xinhua) — The Group of Seven (G7) foreign ministers on Monday called for a resumption of talks to reach a comprehensive, verifiable and lasting deal on Iran’s nuclear program.

    In a joint statement on Iran and the Middle East issued by Global Affairs Canada, the G7 foreign ministers called on Iran to urgently resume full cooperation with the International Atomic Energy Agency (IAEA) in accordance with its safeguards obligations and to provide the IAEA with verifiable information on all nuclear materials in Iran, including by providing access to IAEA inspectors.

    “We underscore the central importance of the Nuclear Non-Proliferation Treaty as the cornerstone of the global nuclear non-proliferation regime. It is critical that Iran remain a party to and fully implement its obligations under the Treaty,” the statement said.

    The foreign ministers of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, as well as the European Union’s high representative, met in The Hague on June 25 to discuss recent developments in the Middle East. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Turkish FM welcomes cooperation with UK, calls for expansion of bilateral trade

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    ANKARA, July 1 (Xinhua) — Turkish Foreign Minister Hakan Fidan here on Monday hailed “intensive cooperation” with Britain and called for further expansion of bilateral trade.

    During a joint press conference with British Foreign Secretary David Lammy, he spoke about interstate cooperation in the areas of economics, defense and technology.

    The minister praised Britain’s supportive stance on issues such as the conflicts in Gaza, Syria, other parts of the Middle East and Ukraine, and welcomed London’s recent decision to lift some sanctions on Syria.

    H. Fidan stressed that ensuring a ceasefire, especially between Iran and Israel, as well as in the Gaza Strip, remains one of Ankara’s top strategic priorities.

    The annual trade turnover between Turkey and Great Britain has reached almost 30 billion US dollars, and both sides are striving to further expand economic ties, the minister noted.

    Mr Lammy highlighted the strength of Turkish-British relations, pointing to a potential free trade agreement that could bring mutual economic benefits of up to £28 billion (US$38.36 billion).

    “We look forward to negotiations on the Free Trade Agreement in the coming weeks and months,” he said.

    The Foreign Minister also praised Turkey’s efforts to promote peace in the Russian-Ukrainian conflict and stressed that both countries are working to ease the humanitarian crisis in Gaza and implement the principle of “two states for two peoples” for the Palestinians. –0–

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Delays on SH18, Greenhithe

    Source: New Zealand Police

    Police advise motorists travelling on the Upper Harbour Highway (SH18) to expect delays tonight.

    A four-car crash heading westbound has occurred just after the Tauhinu Road on-ramp, near Greenhithe.

    There are no serious injuries to report.

    While the vehicles are being cleared, there is an extensive backlog of traffic towards the Albany area.

    Please allow additional time to reach your destination safely this evening.

    ENDS

    Jarred Williamson/NZ Police

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Protecting retailers from shoplifting

    Source: New Zealand Government

    The Government is making it easier for police to punish shoplifters and is introducing stronger penalties for low-level theft, Justice Minister Paul Goldsmith and Associate Justice Minister Nicole McKee say. 

    “Public confidence in our justice system is undermined if people can steal with apparent impunity. It’s disheartening, and our government will not sit by while shoplifters rob businesses of their livelihoods,” Mr Goldsmith says.

    “Currently, the administrative burden can deter retailers from making official complaints, and lower-level offending often goes unreported or unpunished. Our government is restoring real consequences for crime, and shoplifting is no exception.”

    The proposed changes include:

    Introducing an infringement regime for shoplifting in retail premises. For stolen goods valued up to $500, infringement fees will be up to $500. For goods valued over $500, fees will be up to $1,000.
    Strengthening the penalties for theft. The maximum penalties will be one year imprisonment (if the value is approximately $2,000 or less), or seven years imprisonment (if value is approximately more than $2,000).
    Creating a new aggravated theft offence for when the value of the goods is under $2,000 and the theft is carried out in a manner that is offensive, threatening, insulting, or disorderly.  

    “Harsher penalties could mean up to twice as long behind bars for aggravated theft, and criminals will be forced to think twice before destroying more lives,” Mrs McKee says.

    “Our government is focused on restoring law and order, reducing violent crime, and putting victims first in our justice system.
    “I want to thank the Ministerial Advisory Group, and its Chair Sunny Kaushal, for their work shaping this proposal.”
    These changes fulfill a commitment in the National/New Zealand First coalition agreement to ensure real consequences for lower-level crimes such as shoplifting.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Govt condemns smears against NSL

    Source: Hong Kong Information Services

    The Hong Kong Special Administrative Region Government strongly condemned and opposed the malicious attacks on and the demonisation of the Hong Kong National Security Law (HKNSL) and other laws safeguarding national security, as well as the slanderous and fact-distorting remarks made on the city’s work in safeguarding national security by foreign politicians, anti-China organisations, and various media outlets on the important occasion of the fifth anniversary of the promulgation and implementation of the HKNSL.

    In a statement, the Hong Kong SAR Government pointed out that anti-China and destabilising forces, organisations or media have made sweepingly generalised and grandstanding comments, completely disregarding the profound historical significance of the HKNSL and its undeniable positive impact on the city.

    The statement made it clear that they distorted the facts and made slanderous remarks on the Hong Kong SAR and the HKNSL. They even attempted to interfere with criminal trials conducted in Hong Kong SAR courts, thereby obstructing the course of justice.

    It also indicated that they never utter a word about the strict enforcement of national security laws by their own countries and other governments against activities that endanger their national security.

    The statement described their actions as despicable political manipulation. It stressed that the Hong Kong SAR Government must sternly denounce their wrongdoing to set the record straight and expose their shameless ‘double standards’ to the world.

    The Hong Kong SAR Government also emphasised that safeguarding national security is a top priority of every country. In accordance with international law and international relations based on the Charter of the United Nations, it is each and every sovereign state’s inherent right to enact laws safeguarding national security, and it is also an international practice.

    Moreover, the statement mentioned that for a considerable period, external forces, through their agents, have conducted infiltration and sabotage activities in Hong Kong, and further instigated the “black-clad violence” and the Hong Kong version of “colour revolution” in 2019, which nearly brought the “one country, two systems” to ruin.

    With the promulgation and implementation of the HKNSL, its effect in stopping violence and curbing disorder as well as quickly restoring social stability in the Hong Kong community was immediate.

    The statement highlighted that the Hong Kong SAR fulfilled its constitutional duty by enacting the Safeguarding National Security Ordinance last year with broad societal consensus, thereby improving the legal system and enforcement mechanisms for safeguarding national security. This has enabled Hong Kong’s transition “from chaos to order” and advancement “from stability to prosperity”.

    It said the attempts by external forces to “use Hong Kong to contain China” are doomed to fail, leaving them with no option but to smear the HKNSL.

    The Hong Kong SAR Government pointed out that, over five years of its implementation, the HKNSL has restored the rights and freedoms that Hong Kong citizens were unable to enjoy during the period of “black-clad violence”, and has enabled the livelihood and economic activities of the Hong Kong community at large to swiftly return to normal and the business environment to be restored and improved continuously.

    It also stressed that human rights in Hong Kong have always been robustly guaranteed constitutionally by both the Constitution and the Basic Law, adding that the rule of law in Hong Kong is strong and robust, and withstands the test of time.

    In addition, the statement noted that, as guaranteed by the Basic Law, the HKNSL and the Hong Kong Bill of Rights, all defendants charged with a criminal offence shall have the right to a fair trial by the Judiciary exercising independent judicial power. The courts of the Hong Kong SAR shall exercise judicial power independently, free from any interference.

    It also mentioned that foreign politicians, anti-China organisations, and various media have recently continued to make irresponsible and absurd remarks, distorting the truth regarding the national security case involving Lai Chee-ying, as well as his custodial arrangements, with the intention of perverting the course of justice.

    The Hong Kong SAR government has repeatedly pointed out that any attempt by any country, organisation, or individual to interfere with the judicial proceedings in the city by means of political power, to prevent any defendant from receiving a fair trial that they should have, is a blatant act undermining the rule of law of Hong Kong and should be condemned.

    The suggestion that persons or organisations with certain backgrounds should be immune from legal sanctions for their illegal acts and activities is tantamount to granting such persons or organisations privileges to break the law, perverting the course of justice, and is totally contrary to the spirit of the rule of law, the Hong Kong SAR Government stated.

    The HKSAR Government strongly urges any external forces to immediately stop interfering with the city’s internal affairs and the independent exercise of judicial power by the courts of the Hong Kong SAR.

    Regarding the custodial arrangements of Lai Chee-ying, the Hong Kong SAR Government reiterated that the Correctional Services Department (CSD) is committed to ensuring that the custodial environment is secure, safe, humane, appropriate and healthy, and has put in place an established mechanism to safeguard the rights of persons-in-custody (PICs), including regular independent visitors, namely Justices of the Peace, who inspect the prisons to ensure the rights of PICs are protected.

    The statement specified that the CSD consistently handles matters concerning Lai Chee-ying strictly in accordance with these mechanisms, no differently from other PICs.

    Furthermore, it clarified that the arrangement for Lai Chee-ying’s removal from association with other PICs has been made at his own request and approved by the CSD after considering all relevant factors in accordance with the law all along.

    The statement added that Lai Chee-ying’s legal representative has publicly clarified that he is receiving appropriate treatment and care in prison.

    The Hong Kong SAR Government emphasised that it will continue to uphold its constitutional duty and steadfastly safeguard national sovereignty, security, and development interests.

    The statement said that the Hong Kong SAR Government will continue to resolutely fulfil its duties and obligations to safeguard national security while simultaneously protecting the lawful rights and freedoms enjoyed by Hong Kong residents and others in Hong Kong in accordance with the law.

    By ensuring high-quality development with high-level security, a new chapter in the practice of “one country, two systems” would be continuously composed, the statement added.

    MIL OSI Asia Pacific News –

  • MIL-OSI: INVL Asset Management raises EUR 35.43 million for investments in funds managed by 17Capital

    Source: GlobeNewswire (MIL-OSI)

    INVL Asset Management, the leading alternative asset manager in the Baltics, raised EUR 35.43 million for investments in funds managed by 17Capital which provides financing to the world’s largest private equity managers, investors, and funds. This success in attracting investor funds further solidifies the Invalda INVL group’s leading position in the Baltic private debt market.

    “The private debt market is experiencing rapid growth globally, and the Baltic region is no exception. Private debt is emerging as an important alternative to traditional financing, while also serving as a valuable tool for portfolio diversification. We appreciate the trust our investors place in us and their decision to leverage the access we provide to globally diversified private debt funds managed by an experienced team. To date, our group has attracted over EUR 75 million to this asset class, reinforcing our leading position in the,” says Justas Riauba, Invalda INVL’s Group Chief Investment Officer.

    A private debt fund INVL Bridge Finance, which had more than EUR 40 million of assets under management at the end of May this year, is also a part of the Invalda INVL group.

    INVL Partner Strategic Lending funds were distributed to the Baltic investors by the financial brokerage firm INVL Financial Advisors, which operates in Lithuania under the INVL Family Office brand.

    “Retail and institutional investors in the Baltic countries are showing strong and growing interest in private debt solutions as an important component of a diversified portfolio. The successful distribution of these funds through the INVL Family Office reflects increasing confidence in structured, institutional-grade products and highlights the growing maturity of investors when it comes to selecting alternative investment solutions,” says Asta Jovaišienė, who heads the INVL Family Office.

    Launched this year, the INVL Partner Strategic Lending funds invest in funds managed by 17Capital, a private credit manager active in North America and Europe. The strategy of that world-class specialised manager’s funds is to lend to the world’s best known private equity funds, managers and management companies against the net asset value (NAV) of their private equity portfolios or the management companies’ investments, as well as to the participants of such funds.

    The minimum investment in the funds for informed investors is EUR 125,000 or, if investments are made in US dollars, USD 145,000. The INVL Partner Strategic Lending funds target an expected net average annual investment return of more than 10%. The anticipated duration of the funds is 7 years.

    Founded in 2008, 17Capital operates primarily from London and New York. The company has completed more than 100 investments and more than 50 exits and since its inception has raised more than USD 13 billion.

    About INVL Asset Management 

    INVL Asset Management is the leading Baltic alternative asset manager. We strive to deliver superior risk-adjusted returns to our investors while positively impacting our region’s economic development. 

    We are part of the Invalda INVL group with a track record spanning over 30 years. Our group manages or has under supervision more than EUR 1.9 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. Our scope of activities also includes family office services in Lithuania, Latvia and Estonia, management of pension funds in Latvia, and investments in global third-party funds.

    The person for additional information:
    Justas Riauba, Invalda INVL Group Chief Investment Officer
    Justas.Riauba@invl.com

    The MIL Network –

  • MIL-OSI: INVL Asset Management raises EUR 35.43 million for investments in funds managed by 17Capital

    Source: GlobeNewswire (MIL-OSI)

    INVL Asset Management, the leading alternative asset manager in the Baltics, raised EUR 35.43 million for investments in funds managed by 17Capital which provides financing to the world’s largest private equity managers, investors, and funds. This success in attracting investor funds further solidifies the Invalda INVL group’s leading position in the Baltic private debt market.

    “The private debt market is experiencing rapid growth globally, and the Baltic region is no exception. Private debt is emerging as an important alternative to traditional financing, while also serving as a valuable tool for portfolio diversification. We appreciate the trust our investors place in us and their decision to leverage the access we provide to globally diversified private debt funds managed by an experienced team. To date, our group has attracted over EUR 75 million to this asset class, reinforcing our leading position in the,” says Justas Riauba, Invalda INVL’s Group Chief Investment Officer.

    A private debt fund INVL Bridge Finance, which had more than EUR 40 million of assets under management at the end of May this year, is also a part of the Invalda INVL group.

    INVL Partner Strategic Lending funds were distributed to the Baltic investors by the financial brokerage firm INVL Financial Advisors, which operates in Lithuania under the INVL Family Office brand.

    “Retail and institutional investors in the Baltic countries are showing strong and growing interest in private debt solutions as an important component of a diversified portfolio. The successful distribution of these funds through the INVL Family Office reflects increasing confidence in structured, institutional-grade products and highlights the growing maturity of investors when it comes to selecting alternative investment solutions,” says Asta Jovaišienė, who heads the INVL Family Office.

    Launched this year, the INVL Partner Strategic Lending funds invest in funds managed by 17Capital, a private credit manager active in North America and Europe. The strategy of that world-class specialised manager’s funds is to lend to the world’s best known private equity funds, managers and management companies against the net asset value (NAV) of their private equity portfolios or the management companies’ investments, as well as to the participants of such funds.

    The minimum investment in the funds for informed investors is EUR 125,000 or, if investments are made in US dollars, USD 145,000. The INVL Partner Strategic Lending funds target an expected net average annual investment return of more than 10%. The anticipated duration of the funds is 7 years.

    Founded in 2008, 17Capital operates primarily from London and New York. The company has completed more than 100 investments and more than 50 exits and since its inception has raised more than USD 13 billion.

    About INVL Asset Management 

    INVL Asset Management is the leading Baltic alternative asset manager. We strive to deliver superior risk-adjusted returns to our investors while positively impacting our region’s economic development. 

    We are part of the Invalda INVL group with a track record spanning over 30 years. Our group manages or has under supervision more than EUR 1.9 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. Our scope of activities also includes family office services in Lithuania, Latvia and Estonia, management of pension funds in Latvia, and investments in global third-party funds.

    The person for additional information:
    Justas Riauba, Invalda INVL Group Chief Investment Officer
    Justas.Riauba@invl.com

    The MIL Network –

  • MIL-OSI: Over half of sports fans are turning to AI or gen AI for more personalized content

    Source: GlobeNewswire (MIL-OSI)

    Press contact:
    Elsa Estager Bergerou
    Tel: +33 6 59 62 55 13
    Email: elsa.estager-bergerou@capgemini.com

    Over half of sports fans are turning to AI or gen AI for more personalized content

    • AI has overtaken traditional search engines as the main source for sports information, with 67% of fans wanting all sports data aggregated in one place.
    • Digital insights are filling gaps in the live sports experience, with nearly 70% of fans seeking stats related to team, players and playing conditions primarily pre-match and during breaks.
    • Spectators want balance between tech innovation and authenticity, with almost three out of five fans worrying that too much technology could impact the thrill of live sport.

    Paris, July 1, 2025 – The Capgemini Research Institute today released its latest report, “Beyond the game: The new era of AI-powered sports engagement”, revealing how AI and generative AI (gen AI) are reshaping the global fan experience. As AI-powered tools become the primary gateway for sports content and data, fans still seek the thrill of authentic, in-person moments, therefore highlighting the need to strike a balance between the digital and physical worlds of sport.

    AI and gen AI power the next era of fan engagement
    AI is redefining how fans interact with sports. Over half (54%) of them now use AI or gen AI tools as their main source of information with 59% trusting content generated by these technologies. From personalized match summaries to real-time highlights reels, fans increasingly expect AI and gen AI to aggregate all sports-related content – 67% want a single, streamlined platform where they can discover information aggregated from websites, search engines and social media.

    However, personalization and interactivity are key to ensuring a genuine and authentic fan experience. While the report finds fans are returning to stadiums since the pandemic, with 37% already having attended live matches this year, AI is transforming how fans engage with sports overall. The technology is delivering tailored updates that enhance their experience of the game, with stats and facts about their favorite teams, fixtures, and players.

    Indeed, 64% of fans want AI to provide updates customized to their preferences, a similar number want to compete against well-known players in a virtual space during live games, and 58% would like to replay matches using ‘what-if’ scenarios. Just over a quarter (27%) are even willing to pay a premium for these AI-driven, interactive experiences. For instance, Tour de France fans can now play and follow their Fantasy team in real time, vote and elect the most combative rider of the day or even experience the race from inside an official fans car.

    “The true power of AI in sports, and especially gen AI, lies in its ability to transform how fans connect with the game, with athletes, and with each other,” explained Pascal Brier, Chief Innovation Officer at Capgemini and Member of the Group Executive Committee. “As technology evolves, unlocking new ways for fans to curate their own unique experience, will be a blend of real-time data with immersive, interactive opportunities. The challenge is to ensure that these innovations deepen the emotional connections that make sport so powerful for passionate supporters, while preserving the authenticity and integrity that defines the spirit of the game.”

    Balancing innovation with responsibility and the thrill of live sports
    Sports fans today are hungry for data but the report shows their digital engagement peaks before matches and during breaks, rather than during the live play itself. Nearly 70% of fans want access to player metrics and live match data, using these insights to enrich their understanding when the action pauses. By meeting fans’ appetite for insights at these key moments, data enriches the overall viewing experience while keeping the thrill of live sports intact.

    While digital innovation is widely embraced, nearly 60% of sports fans are concerned that too much technology could dampen the excitement of attending events, and over half fear it could diminish their overall enjoyment of the game or match. This highlights the importance of finding the right balance – leveraging technology to elevate the fan experience while preserving what makes live sports so uniquely compelling.

    The report finds that there is a lack of awareness about data privacy aspects of AI-powered sports viewing tools.
    For example, whereas about half of Gen Y and Gen Z fans are aware of the various kinds of data collected and explicitly consent to its storage, this is true for only 38% and 36% of baby boomers, respectively.

    There are also concerns about misinformation, as two-thirds of fans admit being worried that the spread of unverified content on AI or gen AI platforms could increase the risk of athletes being targeted or harassed by disgruntled supporters. What’s more, 57% of fans are concerned about the generation of false content resulting in the spread of misinformation about players or sports teams.

    Stadiums invest in tech to meet rising fan expectations
    The report finds that stadium operators are investing in apps and smart technologies to create smoother, more immersive experiences for digital-native audiences. Over half of attendees say ticketing, scheduling, and real-time apps enhance their stadium experience, while facial recognition entry and digital navigation are also valued.

    Download the full report here.

    Report methodology
    The Capgemini Research Institute surveyed f 12,017 sports fans across 11 countries, in March and April 2025: Australia, Brazil, Canada, France, Germany, Italy, Japan, Spain, Sweden, the UK, and the US. The research explored fan behaviors, attitudes, and expectations around AI, gen AI, and digital innovations in sports.

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.

    Get The Future You Want | www.capgemini.com

    About the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times – an industry first.

    Visit us at https://www.capgemini.com/researchinstitute/

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Danish households buy European stocks

    Source: Danmarks Nationalbank

    Investments in defense stocks are significant

    Defense stocks account for 32 per cent of Danish households’ total purchases of European stocks in the first five months of 2025. At the top of the list are Rheinmetall and Saab. In May, for the first time, Rheinmetall became the European stock in which Danish households have the largest investment. This is primarily driven by price increases and, to a lesser extent, new purchases. Although Danish households have sold American stocks and bought European ones in 2025, American stocks still make up 29 per cent of the total stock portfolio as of May. In comparison, European stocks account for 16 per cent, Danish stocks 48 per cent, and other listed stocks 7 per cent.

    MIL OSI Economics –

  • MIL-OSI Economics: Danish households buy European stocks

    Source: Danmarks Nationalbank

    Investments in defense stocks are significant

    Defense stocks account for 32 per cent of Danish households’ total purchases of European stocks in the first five months of 2025. At the top of the list are Rheinmetall and Saab. In May, for the first time, Rheinmetall became the European stock in which Danish households have the largest investment. This is primarily driven by price increases and, to a lesser extent, new purchases. Although Danish households have sold American stocks and bought European ones in 2025, American stocks still make up 29 per cent of the total stock portfolio as of May. In comparison, European stocks account for 16 per cent, Danish stocks 48 per cent, and other listed stocks 7 per cent.

    MIL OSI Economics –

  • MIL-OSI Economics: Multi-purpose Arena in Odaiba Aomi Area TOYOTA ARENA TOKYO Construction Completed

    Source: Toyota

    Headline: Multi-purpose Arena in Odaiba Aomi Area TOYOTA ARENA TOKYO Construction Completed

    Toyota Fudosan Co., Ltd. (Toyota Fudosan), the owner of TOYOTA ARENA TOKYO (the Arena), held a construction completion ceremony on June 30. The arena project is being developed in collaboration with Toyota Motor Corporation (Toyota) and Toyota Alvark Tokyo Corporation (Toyota Alvark Tokyo).

    MIL OSI Economics –

  • MIL-OSI Economics: Multi-purpose Arena in Odaiba Aomi Area TOYOTA ARENA TOKYO Construction Completed

    Source: Toyota

    Headline: Multi-purpose Arena in Odaiba Aomi Area TOYOTA ARENA TOKYO Construction Completed

    Toyota Fudosan Co., Ltd. (Toyota Fudosan), the owner of TOYOTA ARENA TOKYO (the Arena), held a construction completion ceremony on June 30. The arena project is being developed in collaboration with Toyota Motor Corporation (Toyota) and Toyota Alvark Tokyo Corporation (Toyota Alvark Tokyo).

    MIL OSI Economics –

  • MIL-Evening Report: ‘I’m going to send letters’: the deadline for Trump’s ‘reciprocal’ trade tariffs is looming

    Source: The Conversation (Au and NZ) – By Peter Draper, Professor, and Executive Director: Institute for International Trade, and Director of the Jean Monnet Centre of Trade and Environment, University of Adelaide

    Brendan Smialowski/AFP via Getty Images

    US President Donald Trump’s 90-day pause on implementing so-called “reciprocal” tariffs on some 180 trading partners ends on July 8.

    How are countries responding to the threat, and will the tariffs be re-applied from July 9?

    What the US thinks ‘reciprocal’ means

    The United States is demanding four things from all trading partners, while offering little in return. So these negotiations are anything but “reciprocal”.

    The main demand is to rebalance bilateral goods trade between the US and other countries. Nations with trade surpluses – meaning they export a greater value of goods than they import from the US – will be encouraged to import more from the US and/or export less to it.

    The US is also pushing countries to eliminate a range of “non-tariff barriers” that may affect US export competitiveness. These barriers are drawn from the United States Trade Representative’s (USTR) March 2025 report and include a variety of perceived “unfair” practices, from value-added taxes (such as the Goods and Services Tax) to biosecurity standards such as those Australia applies to agricultural imports.

    In a nod to the “tech bros”, (alleged) restrictions on digital trade services, such as Australia’s media bargaining code, and digital service taxes must be removed, along with taxes on the tech giants. On Monday, Canada dropped a new digital service tax on firms such as Google and Meta after Trump suspended trade talks.

    Amazon founder Jeff Bezos, Google CEO Sundar Pichai and Tesla CEO Elon Musk at President Trump’s inauguration ceremony.
    Saul Loeb/Pool/AFP via Getty Image

    Countries must also agree to reduce reliance on inputs from China in any exports to the United States. That means companies that moved manufacturing from China to countries such as Vietnam during President Trump’s first term trade wars will face challenges in sourcing input components from China.

    Put together, this is a difficult package for any government to accept without securing something in return.

    Who holds the cards?

    Trump has been fond of saying the United States holds “all the cards” in trade negotiations.

    It’s not known precisely how many countries are negotiating bilateral deals with Washington. Between 10 and 18 countries are priority “targets”, or to use an early, colourful phrase, were targeted as the “Dirty 15”.

    Category 1 likely comprises many more countries than those in the US’s naughty corner. These countries were saddled with large reciprocal tariffs despite the tariff formula’s evident shortcomings. To paraphrase Trump, these countries don’t hold the cards and have limited negotiating power.

    They have no choice but to make concessions. The smarter ones will take the opportunity to make reforms and blame the bully in Washington. Mostly these are developing countries, some with high dependency on the US market, including the poorest such as Bangladesh, Cambodia, and Lesotho.

    To make matters worse, they must keep one eye on China for fear of retribution in case Beijing perceives any promises to reduce dependence on Chinese inputs would compromise Chinese interests.

    Category 2 consists of countries that “hold cards”, or have some degree of leverage. Some, such as Canada, Japan, India and the EU, will secure limited US concessions although they may resort to retaliation to force this outcome. From discussions with our government and academic sources, Japan and India likely won’t retaliate, but Canada has previously and the EU likely will.

    Australia’s Prime Minister Anthony Albanese initially said he would not negotiate and has repeated US reciprocal tariffs “are not the act of a friend”.

    However, the Australian government is wisely looking to bolster its negotiation cards, such as creating a critical minerals strategic reserve.



    Read more:
    Plans to stockpile critical minerals will help Australia weather global uncertainty – and encourage smaller miners

    No doubt policy makers are also reminding the US of their favourable access to Australia’s military infrastructure which could be essential to any US-China military confrontation.

    China is category 3.

    The Chinese government is determined not to kowtow to Washington as they did in Trump’s first term. The so-called “Phase 1 deal” was signed but instantly forgotten in Beijing.

    Beijing has several cards, notably dominance of processed critical minerals and their derivative products, particularly magnets, and the US’s lack of short-term alternative supply options.

    After China expanded export controls on rare earths and critical minerals, shortages hit the auto industry around the world and Ford was forced to idle plants.

    What happens next?

    Kevin Hassett, director of the National Economic Council, suggested on Friday more deals may be signed before July 8. But Trump is likely to undermine and/or negate them as his transactional whims change.

    The British, after announcing their US deal that included relatively favourable automotive and steel export market access, watched in horror as Trump doubled tariffs on steel imports to 50%, and reimposed the 25% tariff on the UK.

    The UK government was reminded this US administration cannot be trusted. That is why countries negotiate binding trade treaties governed by domestic and international laws.

    Many countries are waiting on the outcomes from various US court battles testing whether the president or Congress should have the power to impose unilateral tariffs. After all, if there is a chance the Supreme Court rules Trump cannot change tariffs by decree, then why negotiate with a serially untrustworthy partner?

    The Japanese government, for example, recently announced it is pausing negotiations after the US demanded increased defence spending.

    ‘I’m going to send letters’

    Trump on Sunday suggested he would simply send letters to foreign nations setting a tariff rate. “I’m going to send letters, that’s the end of the trade deal,” he said.

    That does not bode well for countries negotiating in good faith. It’s likely tariffs will be reimposed and bilateral negotiations will drag on to September or beyond as Treasury Secretary Scott Bessent has said.

    After all, even the US government has limited bandwidth to process so many simultaneous negotiations. Category 2 trading partners will increasingly test their own political limits. And the rest of the world is hoping for a favourable Supreme Court ruling that may, like the character Godot in the play Waiting for Godot, never come.

    Nathan Gray receives funding from the Department of Foreign Affairs and Trade.

    Kumuthini Sivathas and Peter Draper do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. ‘I’m going to send letters’: the deadline for Trump’s ‘reciprocal’ trade tariffs is looming – https://theconversation.com/im-going-to-send-letters-the-deadline-for-trumps-reciprocal-trade-tariffs-is-looming-259983

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: ‘I’m going to send letters’: the deadline for Trump’s ‘reciprocal’ trade tariffs is looming

    Source: The Conversation (Au and NZ) – By Peter Draper, Professor, and Executive Director: Institute for International Trade, and Director of the Jean Monnet Centre of Trade and Environment, University of Adelaide

    Brendan Smialowski/AFP via Getty Images

    US President Donald Trump’s 90-day pause on implementing so-called “reciprocal” tariffs on some 180 trading partners ends on July 8.

    How are countries responding to the threat, and will the tariffs be re-applied from July 9?

    What the US thinks ‘reciprocal’ means

    The United States is demanding four things from all trading partners, while offering little in return. So these negotiations are anything but “reciprocal”.

    The main demand is to rebalance bilateral goods trade between the US and other countries. Nations with trade surpluses – meaning they export a greater value of goods than they import from the US – will be encouraged to import more from the US and/or export less to it.

    The US is also pushing countries to eliminate a range of “non-tariff barriers” that may affect US export competitiveness. These barriers are drawn from the United States Trade Representative’s (USTR) March 2025 report and include a variety of perceived “unfair” practices, from value-added taxes (such as the Goods and Services Tax) to biosecurity standards such as those Australia applies to agricultural imports.

    In a nod to the “tech bros”, (alleged) restrictions on digital trade services, such as Australia’s media bargaining code, and digital service taxes must be removed, along with taxes on the tech giants. On Monday, Canada dropped a new digital service tax on firms such as Google and Meta after Trump suspended trade talks.

    Amazon founder Jeff Bezos, Google CEO Sundar Pichai and Tesla CEO Elon Musk at President Trump’s inauguration ceremony.
    Saul Loeb/Pool/AFP via Getty Image

    Countries must also agree to reduce reliance on inputs from China in any exports to the United States. That means companies that moved manufacturing from China to countries such as Vietnam during President Trump’s first term trade wars will face challenges in sourcing input components from China.

    Put together, this is a difficult package for any government to accept without securing something in return.

    Who holds the cards?

    Trump has been fond of saying the United States holds “all the cards” in trade negotiations.

    It’s not known precisely how many countries are negotiating bilateral deals with Washington. Between 10 and 18 countries are priority “targets”, or to use an early, colourful phrase, were targeted as the “Dirty 15”.

    Category 1 likely comprises many more countries than those in the US’s naughty corner. These countries were saddled with large reciprocal tariffs despite the tariff formula’s evident shortcomings. To paraphrase Trump, these countries don’t hold the cards and have limited negotiating power.

    They have no choice but to make concessions. The smarter ones will take the opportunity to make reforms and blame the bully in Washington. Mostly these are developing countries, some with high dependency on the US market, including the poorest such as Bangladesh, Cambodia, and Lesotho.

    To make matters worse, they must keep one eye on China for fear of retribution in case Beijing perceives any promises to reduce dependence on Chinese inputs would compromise Chinese interests.

    Category 2 consists of countries that “hold cards”, or have some degree of leverage. Some, such as Canada, Japan, India and the EU, will secure limited US concessions although they may resort to retaliation to force this outcome. From discussions with our government and academic sources, Japan and India likely won’t retaliate, but Canada has previously and the EU likely will.

    Australia’s Prime Minister Anthony Albanese initially said he would not negotiate and has repeated US reciprocal tariffs “are not the act of a friend”.

    However, the Australian government is wisely looking to bolster its negotiation cards, such as creating a critical minerals strategic reserve.



    Read more:
    Plans to stockpile critical minerals will help Australia weather global uncertainty – and encourage smaller miners

    No doubt policy makers are also reminding the US of their favourable access to Australia’s military infrastructure which could be essential to any US-China military confrontation.

    China is category 3.

    The Chinese government is determined not to kowtow to Washington as they did in Trump’s first term. The so-called “Phase 1 deal” was signed but instantly forgotten in Beijing.

    Beijing has several cards, notably dominance of processed critical minerals and their derivative products, particularly magnets, and the US’s lack of short-term alternative supply options.

    After China expanded export controls on rare earths and critical minerals, shortages hit the auto industry around the world and Ford was forced to idle plants.

    What happens next?

    Kevin Hassett, director of the National Economic Council, suggested on Friday more deals may be signed before July 8. But Trump is likely to undermine and/or negate them as his transactional whims change.

    The British, after announcing their US deal that included relatively favourable automotive and steel export market access, watched in horror as Trump doubled tariffs on steel imports to 50%, and reimposed the 25% tariff on the UK.

    The UK government was reminded this US administration cannot be trusted. That is why countries negotiate binding trade treaties governed by domestic and international laws.

    Many countries are waiting on the outcomes from various US court battles testing whether the president or Congress should have the power to impose unilateral tariffs. After all, if there is a chance the Supreme Court rules Trump cannot change tariffs by decree, then why negotiate with a serially untrustworthy partner?

    The Japanese government, for example, recently announced it is pausing negotiations after the US demanded increased defence spending.

    ‘I’m going to send letters’

    Trump on Sunday suggested he would simply send letters to foreign nations setting a tariff rate. “I’m going to send letters, that’s the end of the trade deal,” he said.

    That does not bode well for countries negotiating in good faith. It’s likely tariffs will be reimposed and bilateral negotiations will drag on to September or beyond as Treasury Secretary Scott Bessent has said.

    After all, even the US government has limited bandwidth to process so many simultaneous negotiations. Category 2 trading partners will increasingly test their own political limits. And the rest of the world is hoping for a favourable Supreme Court ruling that may, like the character Godot in the play Waiting for Godot, never come.

    Nathan Gray receives funding from the Department of Foreign Affairs and Trade.

    Kumuthini Sivathas and Peter Draper do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. ‘I’m going to send letters’: the deadline for Trump’s ‘reciprocal’ trade tariffs is looming – https://theconversation.com/im-going-to-send-letters-the-deadline-for-trumps-reciprocal-trade-tariffs-is-looming-259983

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: A new ‘prac payment’ has just kicked in. But it ignores many uni students

    Source: The Conversation (Au and NZ) – By Kelly Lambert, Associate Professor Nutrition and Dietetics, University of Wollongong

    Fly View Productions/ Getting Images

    On Tuesday, some Australian university students got access to a new payment. The Commonwealth Prac Payment is available to eligible teaching, nursing, midwifery and social work students.

    It will provide A$331.65 a week during compulsory professional placements, to help with living and study expenses. This could include travel, accommodation, uniforms and lost income from other employment.

    But while the payment is a much-needed step in the right direction, many students are still missing out.

    Who’s not covered?

    The prac payment was a recommendation from the federal government’s 2024 Universities Accord review. It is designed to help students complete essential professional placements, so they can graduate and enter the workforce.

    But numerous other health degrees with time-consuming work placements are excluded from the payment.

    This includes medicine, physiotherapy, dietetics, psychology, radiography and other allied health professions. Veterinary medicine students are also ineligible. Many of these professions are also experiencing serious workforce shortages.

    The payment is also only available to teaching, nursing and social work students who already qualify for Ausstudy (the income support payment for students and apprentices who are 25 and over).

    So this means the prac payment is means tested. It is also considered taxable income and paid at the rate of Austudy – which is not generous. The basic Austudy rate is below the national poverty line.

    The payment is also only available to Australian domestic students, even though many international heath students end up working in the Australian health system after graduating.

    Why is this an issue?

    Researchers, including ourselves, use the term “placement poverty” to describe the impact mandatory placements can have on students. It can be a major barrier to students completing their degrees.

    Students have repeatedly described widespread impacts of doing up to 1,000 hours of unpaid work to graduate – taking a toll on their income and mental health.

    Kelly Lambert’s 2024 research suggests health and teaching students can incur a further $12,500–15,000 to the cost of degrees during unpaid placements.

    Students have explained the placement hours mean they can’t work in their regular paid casual or part-time jobs – and may lose this work as a result.

    What does this mean for students?

    In the short term, if students are not supported to complete their placements, they may not have enough money for food or accommodation.

    Our research found 29% of teaching and allied health students regularly skip meals while on placement. Some students also described sleeping in cars or driving excessive distances due to limited or expensive accommodation options near their placements.

    If students are not supported in their placements, research suggests they can experience burnout and may not finish their degrees. Or they may not even begin them in the first place.

    This is particularly the case for students from regional or rural communities (who may have further to travel), students with parenting or caring responsibilities, and students from low economic and otherwise disadvantaged backgrounds.

    We also know its important to support students to do placements in rural, regional and remote areas – students who complete placements in these communities are more likely to return and work in those communities.

    What do we need to do instead?

    As a first measure, the government should expand eligibility criteria for the current payment to include other health disciplines and those who don’t currently meet the means testing threshold.

    Research tells us financial hardship is not confined to students who qualify for Austudy, it is experienced across the board.

    Students have also suggested interest-free short-term loans, subsidised parking (similar to hospital employees), and greater transparency about the costs associated with unpaid placements. International students have also said public transport subsidies would help them complete their placements.

    Other, more significant changes could include apprenticeship-type compensation models for healthcare students, where students get paid to study as part of their training. These schemes are already available in Scotland.

    Ultimately, we want to support more students to do health and teaching degrees to fill workforce gaps – not discourage them with high costs of studying.

    Kelly Lambert has received funding from the Australian Centre for Student Equity and Success.

    Scott William does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. A new ‘prac payment’ has just kicked in. But it ignores many uni students – https://theconversation.com/a-new-prac-payment-has-just-kicked-in-but-it-ignores-many-uni-students-260087

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: A new ‘prac payment’ has just kicked in. But it ignores many uni students

    Source: The Conversation (Au and NZ) – By Kelly Lambert, Associate Professor Nutrition and Dietetics, University of Wollongong

    Fly View Productions/ Getting Images

    On Tuesday, some Australian university students got access to a new payment. The Commonwealth Prac Payment is available to eligible teaching, nursing, midwifery and social work students.

    It will provide A$331.65 a week during compulsory professional placements, to help with living and study expenses. This could include travel, accommodation, uniforms and lost income from other employment.

    But while the payment is a much-needed step in the right direction, many students are still missing out.

    Who’s not covered?

    The prac payment was a recommendation from the federal government’s 2024 Universities Accord review. It is designed to help students complete essential professional placements, so they can graduate and enter the workforce.

    But numerous other health degrees with time-consuming work placements are excluded from the payment.

    This includes medicine, physiotherapy, dietetics, psychology, radiography and other allied health professions. Veterinary medicine students are also ineligible. Many of these professions are also experiencing serious workforce shortages.

    The payment is also only available to teaching, nursing and social work students who already qualify for Ausstudy (the income support payment for students and apprentices who are 25 and over).

    So this means the prac payment is means tested. It is also considered taxable income and paid at the rate of Austudy – which is not generous. The basic Austudy rate is below the national poverty line.

    The payment is also only available to Australian domestic students, even though many international heath students end up working in the Australian health system after graduating.

    Why is this an issue?

    Researchers, including ourselves, use the term “placement poverty” to describe the impact mandatory placements can have on students. It can be a major barrier to students completing their degrees.

    Students have repeatedly described widespread impacts of doing up to 1,000 hours of unpaid work to graduate – taking a toll on their income and mental health.

    Kelly Lambert’s 2024 research suggests health and teaching students can incur a further $12,500–15,000 to the cost of degrees during unpaid placements.

    Students have explained the placement hours mean they can’t work in their regular paid casual or part-time jobs – and may lose this work as a result.

    What does this mean for students?

    In the short term, if students are not supported to complete their placements, they may not have enough money for food or accommodation.

    Our research found 29% of teaching and allied health students regularly skip meals while on placement. Some students also described sleeping in cars or driving excessive distances due to limited or expensive accommodation options near their placements.

    If students are not supported in their placements, research suggests they can experience burnout and may not finish their degrees. Or they may not even begin them in the first place.

    This is particularly the case for students from regional or rural communities (who may have further to travel), students with parenting or caring responsibilities, and students from low economic and otherwise disadvantaged backgrounds.

    We also know its important to support students to do placements in rural, regional and remote areas – students who complete placements in these communities are more likely to return and work in those communities.

    What do we need to do instead?

    As a first measure, the government should expand eligibility criteria for the current payment to include other health disciplines and those who don’t currently meet the means testing threshold.

    Research tells us financial hardship is not confined to students who qualify for Austudy, it is experienced across the board.

    Students have also suggested interest-free short-term loans, subsidised parking (similar to hospital employees), and greater transparency about the costs associated with unpaid placements. International students have also said public transport subsidies would help them complete their placements.

    Other, more significant changes could include apprenticeship-type compensation models for healthcare students, where students get paid to study as part of their training. These schemes are already available in Scotland.

    Ultimately, we want to support more students to do health and teaching degrees to fill workforce gaps – not discourage them with high costs of studying.

    Kelly Lambert has received funding from the Australian Centre for Student Equity and Success.

    Scott William does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. A new ‘prac payment’ has just kicked in. But it ignores many uni students – https://theconversation.com/a-new-prac-payment-has-just-kicked-in-but-it-ignores-many-uni-students-260087

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Video: International development financing conference adopts commitment and action platform in Sevilla

    Source: United Nations (video statements)

    The Fourth International Conference on Financing for Development adopted the Compromiso de Sevilla as well as a Platform for Action laying the foundation for a renewed global framework to close the $4 trillion financing gap for the Sustainable Development Goals (SDGs), address the debt crises, and make the international financial system fairer and more transparent.
    #ffd4 #sustainabledevelopment

    https://www.youtube.com/watch?v=7gwhdRz3W40

    MIL OSI Video –

  • MIL-OSI: BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF AXA INVESTMENT MANAGERS

    Source: GlobeNewswire (MIL-OSI)

            

    BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF
    AXA INVESTMENT MANAGERS

    PRESS RELEASE

    Paris, 01 July 2025,

    BNP Paribas Cardif has finalised the acquisition of AXA Investment Managers (AXA IM) and signed a long-term partnership with the AXA Group to manage a large part of its assets.

    This operation, announced on 1st August 2024, will enable the BNP Paribas Group to create a leading European asset management platform with over EUR 1.5 trillion in assets under management entrusted by its clients. It allows the Group to become the European leader in long-term savings management for insurers and pension funds with around EUR 850 billion, with the ambition to become the European leader in fund collection for private asset investments and positioning itself among the main providers of ETFs in Europe. This operation is also part of the Group’s core mission to support the economy by mobilising savings to finance future-oriented projects in the best interests of its clients.

    By combining the expertise of AXA IM, BNP Paribas Asset Management, and BNP Paribas REIM, this new platform will have a wide range of traditional and alternative assets, an expanded global distribution network, enhanced innovation capabilities, and a more comprehensive offering in responsible investment. It will benefit from AXA IM Alts’ market position and expertise in private assets, which are key drivers of future growth for institutional and individual clients, as well as AXA IM’s know-how in long-term asset management for insurance and retirement. In this context, BNP Paribas Cardif will leverage the capabilities of this platform for the management of a large part of its assets, notably its general funds.

    The formation of this new platform marks a major milestone in the development and growth journey of the IPS division. It will fully benefit from BNP Paribas’ integrated model, in close collaboration with the CPBS and CIB businesses, particularly within the framework of the “originate to distribute” approach.

    “This acquisition is an important moment for the entire BNP Paribas Group. We are delighted to welcome the AXA IM teams, who will find within the BNP Paribas Group a strong culture of customer service as well as ambitious growth and innovation prospects. These are teams with recognised and complementary expertise that will build together a European industrial project to better serve our clients. I have every confidence in the ability of the management teams of our asset management activities to grow the business and create value for our clients and employees,” said Jean-Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas.

    Joint working groups with AXA IM teams are already in place to reflect on and develop a common roadmap, particularly with regard to offerings and services. This roadmap will be submitted to the appropriate employee representative bodies.

    The project to merge the legal entities of AXA IM, BNP Paribas AM and BNP Paribas REIM, which would create the new platform held by BNP Paribas Cardif, is currently the subject of consultation with employee representative bodies.

    Sandro Pierri, CEO of BNP Paribas AM, will lead the BNP Paribas Group’s asset management activities and Marco Morelli, the current Executive Chairman of AXA IM, will chair the BNP Paribas Group’s asset management activities.

    From a financial perspective:

    • The Group’s revenue growth by 2026, including the impact of the transaction, will be greater than +5% (CAGR 24-26), with an average annual jaws effect of +1.5 pts.
    • Return on Invested Capital (ROIC) will be more than 14% in year three (2028) and more than 20% in year four (2029).
    • From a prudential perspective, the impact of the operation on the Group’s CET1 ratio is estimated at approximately -35bp as of the 3rd quarter 2025 results, discussions with supervisory authorities are still on going.

    An update on the progress of the operation will be provided upon the release of the third-quarter 2025 results ahead of a Deep Dive, that will take place during the first quarter 2026, focused on the Group’s trajectory including this operation.

    About BNP Paribas
    Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

    BNP Paribas Press Contacts
    Hacina Habchi: hacina.habchi@bnpparibas.com +33 7 61 97 65 20
    Sandrine Romano: sandrine.romano@bnpparibas.com +33 6 71 18 13 05

    Attachment

    The MIL Network –

  • MIL-OSI: BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF AXA INVESTMENT MANAGERS

    Source: GlobeNewswire (MIL-OSI)

            

    BNP PARIBAS CARDIF COMPLETES THE ACQUISITION OF
    AXA INVESTMENT MANAGERS

    PRESS RELEASE

    Paris, 01 July 2025,

    BNP Paribas Cardif has finalised the acquisition of AXA Investment Managers (AXA IM) and signed a long-term partnership with the AXA Group to manage a large part of its assets.

    This operation, announced on 1st August 2024, will enable the BNP Paribas Group to create a leading European asset management platform with over EUR 1.5 trillion in assets under management entrusted by its clients. It allows the Group to become the European leader in long-term savings management for insurers and pension funds with around EUR 850 billion, with the ambition to become the European leader in fund collection for private asset investments and positioning itself among the main providers of ETFs in Europe. This operation is also part of the Group’s core mission to support the economy by mobilising savings to finance future-oriented projects in the best interests of its clients.

    By combining the expertise of AXA IM, BNP Paribas Asset Management, and BNP Paribas REIM, this new platform will have a wide range of traditional and alternative assets, an expanded global distribution network, enhanced innovation capabilities, and a more comprehensive offering in responsible investment. It will benefit from AXA IM Alts’ market position and expertise in private assets, which are key drivers of future growth for institutional and individual clients, as well as AXA IM’s know-how in long-term asset management for insurance and retirement. In this context, BNP Paribas Cardif will leverage the capabilities of this platform for the management of a large part of its assets, notably its general funds.

    The formation of this new platform marks a major milestone in the development and growth journey of the IPS division. It will fully benefit from BNP Paribas’ integrated model, in close collaboration with the CPBS and CIB businesses, particularly within the framework of the “originate to distribute” approach.

    “This acquisition is an important moment for the entire BNP Paribas Group. We are delighted to welcome the AXA IM teams, who will find within the BNP Paribas Group a strong culture of customer service as well as ambitious growth and innovation prospects. These are teams with recognised and complementary expertise that will build together a European industrial project to better serve our clients. I have every confidence in the ability of the management teams of our asset management activities to grow the business and create value for our clients and employees,” said Jean-Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas.

    Joint working groups with AXA IM teams are already in place to reflect on and develop a common roadmap, particularly with regard to offerings and services. This roadmap will be submitted to the appropriate employee representative bodies.

    The project to merge the legal entities of AXA IM, BNP Paribas AM and BNP Paribas REIM, which would create the new platform held by BNP Paribas Cardif, is currently the subject of consultation with employee representative bodies.

    Sandro Pierri, CEO of BNP Paribas AM, will lead the BNP Paribas Group’s asset management activities and Marco Morelli, the current Executive Chairman of AXA IM, will chair the BNP Paribas Group’s asset management activities.

    From a financial perspective:

    • The Group’s revenue growth by 2026, including the impact of the transaction, will be greater than +5% (CAGR 24-26), with an average annual jaws effect of +1.5 pts.
    • Return on Invested Capital (ROIC) will be more than 14% in year three (2028) and more than 20% in year four (2029).
    • From a prudential perspective, the impact of the operation on the Group’s CET1 ratio is estimated at approximately -35bp as of the 3rd quarter 2025 results, discussions with supervisory authorities are still on going.

    An update on the progress of the operation will be provided upon the release of the third-quarter 2025 results ahead of a Deep Dive, that will take place during the first quarter 2026, focused on the Group’s trajectory including this operation.

    About BNP Paribas
    Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

    BNP Paribas Press Contacts
    Hacina Habchi: hacina.habchi@bnpparibas.com +33 7 61 97 65 20
    Sandrine Romano: sandrine.romano@bnpparibas.com +33 6 71 18 13 05

    Attachment

    The MIL Network –