NewzIntel.com

Category: AM-NC

  • MIL-OSI Asia-Pac: Guangdong, Hong Kong and Macao joint maritime search and rescue exercise conducted smoothly (with photos)

    Source: Hong Kong Government special administrative region

         The Marine Department (MD), in collaboration with the search and rescue (SAR) agencies in Guangdong and Macao as well as several Hong Kong government departments, including the Guangdong Rescue Co-ordination Centre, the Macao Marine and Water Bureau, the Macao Customs, the Hong Kong Police Force, the Government Flying Service, the Fire Services Department and the Civil Aid Service, smoothly conducted a joint maritime SAR exercise in the waters off Ha Mei Wan, Lamma Island, today (June 11).
     
         A spokesman for the MD said, “The objective of the SAR exercise is to test the communication efficiency, co-ordination capabilities and resource deployment among the SAR agencies in Guangdong, Hong Kong and Macao. The exercise also aims to strengthen co-operation between Hong Kong and neighbouring regional SAR centres to enhance their response capabilities in the event of future major maritime emergency incidents.”
     
         The exercise simulated a collision between a cross-boundary high-speed passenger ferry carrying around 70 passengers from Macao to Hong Kong and a local oil tanker in the waters north of Shek Kwu Chau. The accident caused damage to the ferry’s hull; two passengers on board went missing after falling overboard, and many passengers were injured. Following the collision accident, the local oil tanker caught fire, trapping a seriously injured crew member in the engine room.
     
         Under the co-ordination of the MD’s Maritime Rescue Coordination Centre, the participating SAR units took various contingency measures to carry out SAR operations. These operations included traffic regulation in the surrounding area to ensure safety at the scene to search for and rescue the missing persons who had fallen into the sea, extinguishing the fire on board the oil tanker, providing on-the-spot first aid to the injured, and deploying a helicopter to transfer the seriously injured to hospital for treatment. The exercise lasted about three hours, mobilising 17 SAR vessels, a helicopter and a total of more than 230 people.
     
         The MD regularly conducts exercises with various SAR units and maritime stakeholders to strengthen co-operation with SAR centres in neighbouring areas and provide effective and rapid SAR services.

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: Utica Sex Offender Sentenced to 20 Years in Prison for Distributing, Receiving, and Possessing Child Pornography

    Source: Office of United States Attorneys

    SYRACUSE, NEW YORK – Dustin Smith, age 31, of Utica, New York, was sentenced last week to 20 years in prison for distributing, receiving, and possessing child pornography.  United States Attorney John A. Sarcone III, Erin Keegan, Special Agent in Charge of Homeland Security Investigations (HSI), Buffalo Field Office, and Steven G. James, New York State Police (NYSP) Superintendent made the announcement.

    As part of his prior guilty plea, Smith admitted that he had a 2013 conviction for sexual abuse in the first degree and that in 2022, while under parole supervision for that conviction, he possessed a cell phone which he used to send, receive, and possess thousands of images and videos of child pornography.  Specifically, Smith admitted that he used the cell phone to exchange videos of child pornography with at least two identified minor children.

    In addition to the 20-year prison sentence, Senior United States District Judge David N. Hurd also imposed a 15-year term of supervised release, to begin after Smith’s prison sentence is complete. Additionally, Smith must pay $102,000 in restitution to the victims of his offenses, forfeit the device he used to commit the crimes, and register as a sex offender upon his release from federal prison.

    U.S. Attorney Sarcone stated, “While under parole supervision, Smith distributed child pornography to a minor, demonstrating that he cannot be at liberty without harming children.  With this 20-year sentence, our children are safer.”

    HSI Special Agent in Charge Keegan said, “Northern New York is undoubtedly a safer place with Dustin Smith behind bars. This sex offender has an admitted history of abhorrent crimes against children. HSI Syracuse stands in lockstep with our law enforcement partners in our shared commitment toward justice on behalf of our communities.”

    HSI investigated this case with assistance from the New York State Police Computer Crimes Unit, New York State Parole, and Oneida County Sheriff’s Office. Assistant United States Attorney Jessica N. Carbone prosecuted the case as part of Project Safe Childhood.

    Project Safe Childhood is a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse. Led by the U.S. Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section (CEOS), Project Safe Childhood marshals federal, state and local resources to better locate, apprehend and prosecute individuals who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit https://www.justice.gov/psc.

    MIL Security OSI –

  • MIL-OSI Security: Manhattan Man Sentenced to 60 Months for Mailing a Letter Containing a Threat to Kill Two Judges

    Source: Office of United States Attorneys

    ALBANY, NEW YORK – Christopher McCarty, age 33, of Manhattan, New York, was sentenced today to 60 months in prison, to be followed by 3 years of supervised release, for mailing a letter that contained a threat to kill two New York State judges.

    United States Attorney John A. Sarcone III and Craig L. Tremaroli, Special Agent in Charge of the Albany Field Office of the Federal Bureau of Investigation (FBI), made the announcement.

    As part of his prior guilty plea, McCarty admitted that between May and June 2023, he was incarcerated at the Auburn Correctional Facility in Auburn, New York.  McCarty further admitted that on or about May 31, 2023, he mailed a letter to New York State Governor Kathy Hochul.  In the letter, McCarty wrote that when he was released from prison, he was going to kill two New York State judges who had presided over his case leading to his incarceration at Auburn Correctional Facility.  

    U.S. Attorney John A. Sarcone III stated: “When someone threatens a judge, they threaten our system of justice. Those who threaten judges for doing their jobs are going to be prosecuted and held accountable to the fullest extent of the law.”

    FBI Special Agent in Charge Craig L. Tremaroli stated: “The FBI will not tolerate threats of violence to any member of our community, but especially those who work hard to safeguard our democratic process. No judge should have to fear their rulings might provoke such a violent response. Mr. McCarty’s actions were dangerous and unacceptable, and today’s sentence ensures he will remain behind bars.”

    FBI Albany’s Joint Terrorism Task Force (JTTF) and the New York State Department of Corrections and Community Supervision (NYSDOCCS) investigated the case. Assistant U.S. Attorney Rick Belliss prosecuted the case.

    MIL Security OSI –

  • MIL-OSI Security: Kennebunkport Man Pleads Guilty to Possessing Child Sexual Abuse Materials

    Source: Office of United States Attorneys

    PORTLAND, Maine: A Kennebunkport man pleaded guilty today in U.S. District Court in Portland to possessing child pornography. 

    According to court records, in November 2024, law enforcement agents executed a search warrant at the residence of Kevin Rockwell, 41, in Kennebunkport. In executing the warrant, agents recovered a tablet located on a nightstand; a review of the tablet uncovered numerous image and video files of child sexual abuse material, including prepubescent children. In an interview, Rockwell admitted owning the tablet and acknowledged the presence of the files on it. Rockwell has a prior federal conviction for transporting child pornography, for which he was sentenced to 8 ½ years in federal prison.

    Rockwell faces a mandatory term of imprisonment of not less than 10 years with a maximum of 20 years, a fine of up to $250,000, and a mandatory supervised release period of at least 5 years up to lifetime supervision. He will be sentenced after the completion of a presentence investigative report by the U.S. Probation Office. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    The FBI investigated the case.

    To report an incident involving the possession, distribution, receipt or production of child sexual abuse material: Child sexual abuse material – referred to in legal terms as “child pornography” – captures the sexual abuse and exploitation of children. These images document victims’ exploitation and abuse, and they suffer revictimization every time the images are viewed. In 2023, the National Center for Missing & Exploited Children received 36 million reports of the possession, manufacture, or distribution of child sexual abuse materials. To file a report with NCMEC, go to https://report.cybertip.org or call 1-800-843-5678. If you are in Maine and you or someone you know has been sexually assaulted or abused, you can get help by calling the free, private 24-hour statewide sexual assault helpline at 1-800-871-7741.

    Project Safe Childhood: This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and the Department’s Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state and local resources to better locate, apprehend and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, visit https://www.justice.gov/usao-me/psc.

    ###

    MIL Security OSI –

  • MIL-OSI Europe: Philip R. Lane: The euro area bond market

    Source: European Central Bank

    Keynote speech by Philip R. Lane, Member of the Executive Board of the ECB, at the Government Borrowers Forum 2025

    Dublin, 11 June 2025

    I am grateful for the invitation to contribute to the Government Borrowers Forum. I will use my time to cover three topics.[1] First, I will briefly discuss last week’s monetary policy decision.[2] Second, I will describe some current features of the euro area bond market.[3] Third, I will outline some innovations that might expand the scope for euro-denominated bonds to serve as safe assets in global portfolios.

    Monetary policy

    At last week’s meeting, the Governing Council decided to lower the deposit facility rate (DFR) to two per cent. The baseline of the latest Eurosystem staff projections foresees inflation at 2.0 per cent in 2025, 1.6 per cent in 2026 and 2.0 per cent in 2027; output growth is foreseen at 0.9 per cent for 2025, 1.2 per cent in 2026 and 1.3 per cent in 2027. The lower inflation path in the June projections compared to the March projections reflects the significant movements in energy prices and the exchange rate in recent months. These relative price movements both have a direct impact on inflation but also an indirect impact via the impact of lower input costs and a lower cost of living on the dynamics of core inflation and wage inflation.

    The June projections were conditioned on a rate path that included a quarter-point reduction of the DFR in June: model-based optimal policy simulations and an array of monetary policy feedback rules indicated a cut was appropriate under the baseline and also constituted a robust decision, remaining appropriate across a range of alternative future paths for inflation and the economy. By supporting the pricing pressure needed to generate target-consistent inflation in the medium-term, this cut helps ensure that the projected negative inflation deviation over the next eighteen months remains temporary and does not convert into a longer-term deviation of inflation from the target. This cut also guards against any uncertainty about our reaction function by demonstrating that we are determined to make sure that inflation returns to target in the medium term. This helps to underpin inflation expectations and avoid an unwarranted tightening in financial conditions.

    The robustness of the decision is also indicated by a set of model-based optimal policy simulations conducted on various combinations of the scenarios discussed in the Eurosystem staff projections report, even when also factoring in upside scenarios for fiscal expenditure. A cut is also indicated by a broad range of monetary policy feedback rules. By contrast, leaving the DFR on hold at 2.25 per cent could have triggered an adverse repricing of the forward curve and a revision in inflation expectations that would risk generating a more pronounced and longer-lasting undershoot of the inflation target. In turn, if this risk materialised, a stronger monetary reaction would ultimately be required.

    Especially under current conditions of high uncertainty, it is essential to remain data dependent and take a meeting-by-meeting approach in making monetary policy decisions. Accordingly, the Governing Council does not pre-commit to any particular future rate path.

    The euro area bond market

    Chart 1

    Ten-year nominal OIS rate and GDP-weighted sovereign yield for the euro area

    (percentages per annum)

    Sources: LSEG and ECB calculations.

    Notes: The latest observations are for 10 June 2025.

    Let me now turn to a longer-run perspective by inspecting developments in the bond market. In the first two decades of the euro, nominal long-term interest rates in the euro area were, by and large, on a declining trend from the start of the currency bloc until the outbreak of the pandemic (Chart 1). The ten-year overnight index swap (OIS) rate, considered as the ten-year risk-free rate in the euro area, declined from 6 percent in early 2000 to -50 basis points in 2020, a trend matched by the 10-year GDP-weighted sovereign bond yield.[4] The economic recovery from the pandemic and the soaring energy prices in response to the Russian invasion in Ukraine caused surges in inflation which led to an increase of interest rates. The recent stability of these long-term rates suggests that markets have seen the euro area economy gradually moving towards a new long-term equilibrium following the peak of annual headline inflation in October 2022, as past shocks have faded.

    Chart 2

    Decomposition of the ten-year spot euro area OIS rate into term premium and expected rates

    (percentages per annum)

    Sources: LSEG and ECB calculations.

    Notes: The decomposition of the OIS rate into expected rates and term premia is based on two affine term structure models, with and without survey information on rate expectations[5], and a lower bound term structure model[6] incorporating survey information on rate expectations. The latest observations are for 10 June 2025.

    A term structure model makes it possible to decompose OIS rates into a term premium component and an expectations component. For the ten-year OIS rate, the expectations component reflects the expected average ECB policy rate over the next ten years and is affected by ECB’s policy decisions on interest rates and communication about the future policy path (e.g., in the form of explicit or implicit forward guidance). The term premium is a measure of the estimated compensation investors demand for being exposed to interest rate risk: the risk that the realised policy rate can be different from the expected rate.

    Chart 3

    Ten-year euro area OIS rate expectations and term premium component

    (percentages per annum)

    Sources: LSEG and ECB calculations.

    Notes: The decomposition of the OIS rate into expected rates and term premia is based on two affine term structure models, with and without survey information on rate expectations4, and a lower bound term structure model5 incorporating survey information on rate expectations. The latest observations are for 10 June 2025.

    The decline of long-term rates in the first two decades of the euro and the rapid increase in 2022 were driven by both the expectations component and the term premium (Charts 2 and 3). The premium was estimated to be largely positive in the early 2000s, understood as a sign that the euro area economy was mostly confronted with supply-side shocks. Starting with the European sovereign debt crisis, the euro area was more and more characterised as a demand-shock dominated economy, in which nominal bonds act as a hedge against future crises and thus investors started requiring a lower or even negative term premium as compensation to hold these assets.[7] The large-scale asset purchases of the ECB under the APP reinforced the downward pressure on the term premium. By buying sovereign bonds (and other assets), the ECB reduced the overall amount of duration risk that had to be borne by private investors, reducing the compensation for risk.[8] With demand and supply shocks becoming more balanced again and central banks around the world normalising their balance sheet holdings of sovereign bonds in recent years, the term premium estimate turned positive again in early 2022 and continued to inch up through the first half of 2023. As it became clear in the second half of 2023 that upside risk scenarios for inflation were less likely, the term premium fell back to some extent and has been fairly stable since.

    Different to the ten-year maturity, very long-term sovereign spreads did not experience the same pronounced negative trend. From the inception of the euro until 2014, the thirty-year euro area GDP-weighted sovereign yield fluctuated around 3 percent. The decline to levels below 2 percent after 2014 and around 0.5 percent in 2020 reflect declining nominal risk-free rates more generally but also coincide with the announcements of large-scale asset purchases (PSPP and PEPP). Likewise, the upward shift back to above 3 percent during 2022 occurred on the back of rising policy rates and normalising central bank balance sheets.

    Chart 4

    Ten-year sovereign bond spreads vs Germany

    (percentages per annum)

    Sources: LSEG and ECB calculations.

    Notes: The spread is the difference between individual countries’ 10-year sovereign yields and the 10-year yield on German Bunds. The latest observations are for 10 June 2025.

    In the run-up to the global financial crisis, sovereign yields in the euro area were very much aligned between countries and also with risk-free rates (Chart 4). With the onset of the global financial crisis and later the European sovereign debt crisis, sovereign spreads for more vulnerable countries soared as investors started to discriminate between euro area countries according to their perceived creditworthiness.

    On top of the efforts of European sovereigns to consolidate their public finances, President Draghi’s 2012 “whatever it takes” speech and the subsequent announcement of Outright Monetary Transaction (OMTs) marked a turning point in the euro area sovereign debt crisis. Sovereign spreads came down from their peaks but have kept some variation across countries ever since.

    The large-scale asset purchases under the APP and PEPP further compressed sovereign spreads. During the pandemic and the subsequent monetary policy tightening, the flexibility in PEPP and the creation of the Transmission Protection Instrument (TPI) supported avoiding fragmentation risks in sovereign bond markets. The extraordinary demand for sovereign bonds as collateral at the beginning of the hiking cycle, at a time when central bank holdings of these bonds were still high, resulted in the yields of German bonds, which are the most-preferred assets when it comes to collateral, declining far below the risk-free OIS rate in the course of 2022. These tensions eased as collateral scarcity reversed.[9]

    This year, bond yields and bond spreads in the euro area have been relatively stable, despite significant movements in some other bond markets. This can be interpreted as reflecting a balancing between two opposing forces: in essence, the typical positive spillover across bond markets has been offset by an international portfolio preference shift towards the euro and euro-denominated securities. This international portfolio preference shift is likely not uniform and is some mix of a pull back by European investors towards the domestic market and some rebalancing by global investors away from the dollar and towards the euro. More deeply, the stability of the euro bond market reflects a high conviction that euro area inflation is strongly anchored at the two per cent target and that the euro area business cycle should be relatively stable, such that the likely scale of cyclical interest rate movements is contained. It also reflects growing confidence that the scope for the materialisation of national or area-wide fiscal risks is quite contained, in view of the shared commitment to fiscal stability among the member countries and the demonstrated capacity to react jointly to fiscal tail events.[10]

    Chart 5

    Holdings of “Big-4” euro area government debt

    (percentage of total amounts outstanding)

    Sources: ECB Securities Holding Statistics and ECB calculations.

    Notes: The chart is based on all general government plus public agency debt in nominal terms. The breakdown is shown for euro area holding sectors, while all non-euro area holders are aggregated in the orange category in lack of more detailed information. ICPF stands for insurance corporations and pension funds. The “Big-4” countries include DE, FR, IT, ES. 2014 Q4 reflects the holdings before the onset of quantitative easing. 2022 Q4 reflects the peak of Eurosystem holdings at the end of net asset purchases.

    Latest observation: Q1 2025

    In understanding the dynamics of the bond market, it is also useful to examine the distribution of bond holdings across sectors. The largest euro-area holder sectors are banks, insurance corporations and pension funds (ICPF) and investment funds, while non-euro area foreign investors also are significant holders (Chart 5). The relative importance of the sectors differs between countries. Domestic banks and insurance corporations play a relatively larger role in countries like Italy and Spain, while non-euro area international investors hold relatively larger shares of debt issued by France or Germany.

    Since the start of the APP in early 2015, the Eurosystem increased its market share in euro area sovereign bonds from about 5 per cent of total outstanding debt to a peak of 33 per cent in late 2022. Net asset purchases by the Eurosystem were stopped in July 2022, while the full reinvestment of redemptions ceased at the end of that year: by Q1 2025, the Eurosystem share had declined to 25 per cent. The increase in Eurosystem holdings during the QE period was mirrored by falling holdings of banks and non-euro area foreign investors. The holding share of banks declined from 22 per cent in 2014 to 14 per cent at the end of 2022, while the share held by foreign investors fell from 35 per cent to 25 per cent over the same period.

    ICPFs have consistently held a significant share of the outstanding debt, especially at the long-end of the yield curve. Since 2022, following the end of full reinvestments under the APP, more price-sensitive sectors, such as banks, investment funds and private foreign investors, have regained some market share. Holdings by households have also shown some noticeable growth in sovereign bond holdings, driven primarily by Italian households.[11] In summary, the holdings statistics show that the bond market has smoothly adjusted to the end of quantitative easing. In particular, the rise in bond yields in 2022 was sufficient to attract a wide range of domestic and global investors to expand their holdings of euro-denominated bonds.[12]

    To gain further insight into the recent dynamics of the euro area bond market, it is helpful to look at recent portfolio flow data and bond issuance data. Market data on portfolio flows[13] highlights a repatriation of investment funds in bonds by domestic investors during March, April, and May, contrasting sharply with 2024 trends, while foreign fund inflows into euro area bonds during the same period surpassed the 2024 average (Chart 6). Simultaneously, EUR-denominated bond issuance by non-euro area corporations has surged in 2025, reaching nearly EUR 100 billion year-to-date compared to an average of EUR 32 billion over the same period in the past five years (Chart 7).

    Expanding the pool of safe assets

    These developments (stable bond yields, increased foreign holdings of euro-denominated bonds) have naturally led to renewed interest in the international role of the euro.[14]

    The euro ranks as the second largest reserve currency after the dollar. However, the current design of the euro area financial architecture results in an under-supply of the safe assets that play a special role in investor portfolios.[15] In particular, a safe asset should rise in relative value during stress episodes, thereby providing essential hedging services.

    Since the bund is the highest-rated large-country national bond in the euro area, it serves as the main de facto safe asset but the stock of bunds is too small relative to the size of the euro area or the global financial system to satiate the demand for euro-denominated safe assets. Especially in the context of much smaller and less volatile spreads (as shown in Chart 4), other national bonds also directionally contribute to the stock of safe assets. However, the remaining scope for relative price movements across these bonds means that the overall stock of national bonds does not sufficiently provide safe asset services.

    In principle, common bonds backed by the combined fiscal capacity of the EU member states are capable of providing safe-asset services. However, the current stock of such bonds is simply too small to foster the necessary liquidity and risk management services (derivative markets; repo markets) that are part and parcel of serving as a safe asset.[16]

    There are several ways to expand the stock of common bonds. Just as the Next Generation EU (NGEU) programme was financed by the issuance of common bonds jointly backed by the member states, the member countries could decide to finance investment European-wide public goods through more common debt.[17] From a public finance perspective, it is natural to match European-wide public goods with common debt, in order to align the financing with the area-wide benefits of such public goods. If a multi-year investment programme were announced, the global investor community would recognise that the stock of euro common bonds would climb incrementally over time.

    In addition, in order to meet more quickly and more decisively the rising global demand for euro-denominated safe assets, there are a number of options in generating a larger stock of safe assets from the current stock of national bonds. Recently, Olivier Blanchard and Ángel Ubide have proposed that the “blue bond/red bond” reform be re-examined.[18] Under this approach, each member country would ring fence a dedicated revenue stream (say a certain amount of indirect tax revenues) that could be used to service commonly-issued bonds. In turn, the proceeds of issuing blue bonds would be deployed to purchase a given amount of the national bonds of each participating member state. This mechanism would result in a larger stock of common bonds (blue bonds) and a lower stock of national bonds (red bonds).

    While this type of financial reform was originally proposed during the euro area sovereign debt crisis, the conditions today are far more favourable, especially if the scale of blue bond issuance were to be calibrated in a prudent manner in order to mitigate some of the identified concerns. In particular, the euro area financial architecture is now far more resilient, thanks to the significant institutional reforms that were introduced in the wake of the euro area crisis and the demonstrated track record of financial stability that has characterised Europe over the last decade. The list of reforms include: an increase in the capitalisation of the European banking system; the joint supervision of the banking system through the Single Supervisory Mechanism; the adoption of a comprehensive set of macroprudential measures at national and European levels; the implementation of the Single Resolution Mechanism; the narrowing of fiscal, financial and external imbalances; the fiscal backstops provided by the European Stability Mechanism; the common solidarity shown during the pandemic through the innovative NGEU programme; the demonstrated track record of the ECB in supplying liquidity in the event of market stress; and the expansion of the ECB policy toolkit (TPI, OMT) to address a range of liquidity tail risks. [19] In the context of the sovereign bond market, these reforms have contributed to less volatile and less dispersed bond returns.

    As emphasised in the Blanchard-Ubide proposal, there is an inherent trade off in the issuance of blue bonds. In one direction, a larger stock of blue bonds boosts liquidity and, if a critical mass is attained, also would trigger the fixed-cost investments need to build out ancillary financial products such as derivatives and repos. In the other direction, too-large a stock of blue bonds would require the ringfencing of national tax revenues at a scale that would be excessive in the context of the current European political configuration in which fiscal resources and political decision-making primarily remains at the national level. As emphasised in the Blanchard-Ubide proposal, this trade-off is best navigated by calibrating the stock of blue bonds at an appropriate level.

    In particular, the Blanchard-Ubide proposal gives the example of a stock of blue bonds corresponding to 25 per cent of GDP. Just to illustrate the scale of the required fiscal resources to back this level of issuance: if bond yields were on average in the range of two to four per cent, the servicing of blue bond debt would require ringfenced tax revenues in the range of a half per cent to one per cent of GDP. While this would constitute a significant shift in the current allocation of tax revenues between national and EU levels, this would still leave tax revenues predominantly at the national level (the ratio of tax revenues to GDP in the euro area ranges from around 20 to 40 per cent). The shared payoff would be the reduction in debt servicing costs generated by the safe asset services provided by an expanded stock of common debt.

    An alternative, possibly complementary, approach that could also deliver a larger stock of safe assets from the pool of national bonds is provided by the sovereign bond backed securities (SBBS) proposal.[20] The SBBS proposal envisages that financial intermediaries (whether public or private) could bundle a portfolio of national bonds and issue tranched securities, with the senior slice constituting a highly-safe asset. The SBBS proposal has been extensively studied (I chaired a 2017 ESRB report) and draft enabling legislation has been prepared by the European Commission.[21] Just as with the blue/red bond proposal, sufficient issuance scale would be needed in order to foster the market liquidity needed for the senior bonds to act as highly liquid safe assets.

    In summary, such structural changes in the design of the euro area bond market would foster stronger global demand for euro-denominated safe assets. A comprehensive strategy to expand the international role of the euro and underpin a European savings and investment union should include making progress on this front.

    MIL OSI Europe News –

  • MIL-OSI Africa: Agriculture Minister proposes biosecurity compact to safeguard SA’s food systems

    Source: South Africa News Agency

    Agriculture Minister, John Steenhuisen, has proposed the development of a National Biosecurity Compact – shared commitment between government, industry, academia, and civil society to strengthen South Africa’s preparedness and resilience against biological threats.

    Speaking at the National Biosecurity Summit 2025, held at the University of Pretoria’s Hatfield Campus on Tuesday, Steenhuisen outlined the objectives of the proposed compact, which aims to coordinate national responses to animal and plant health risks.

    “This compact will define baseline vaccine stock levels; clarify roles and responsibilities during outbreaks; embed data-sharing mechanisms and institutional partnerships like the Biosecurity Hub; and provide a framework for coordinated, credible, and timely responses,” Steenhuisen said.

    Steenhuisen argued that the initiative is not only about defending against risk, but “it is about enabling growth.”

    He said export markets require sanitary and phytosanitary compliance, and they demand evidence of control, traceability, and institutional readiness.

    “Strengthening our biosecurity systems opens the door to new trade opportunities, safeguards jobs, and boosts investor confidence in South African agriculture. Biosecurity is not a “nice-to-have”, [but] it is as fundamental to national stability as clean water, reliable electricity, or functioning roads.

    “When it works, farmers prosper, food remains affordable, and our exports flourish. When it fails, the consequences are steep—economically, socially, and politically. We have the tools [and] the institutions, and now, we have the momentum,” the Minister said.

    The Minister also noted one of the country’s most significant structural weaknesses, vaccine production, highlighting operational backlogs and infrastructure limitations at Onderstepoort Biological Products (OBP) – the country’s primary vaccine producer.

    “We cannot afford to repeat the failures of the past. Vaccines are not a luxury – they are the first line of defence in any biosecurity system, and we will hold OBP accountable.”

    To address these challenges, the Minister announced that his office has implemented quarterly performance reviews, brought independent oversight, and is actively investigating diversification options to reduce dependence on a single supplier.

    Addressing veterinarian shortage

    The Minister also raised concerns about the critical shortage of veterinarians, particularly in the poultry industry and rural areas.
    “Nationally, we require 400 veterinarians. We currently have around 70 in the public system,” the Minister said.

    To close this gap, he said the department is expanding vet training posts, creating rural internships opportunities, and building regional partnerships.

    “Through the Biosecurity Hub, we are also mapping career pathways to attract a new generation of animal health professionals.”

    Biosecurity Hub at Innovation Africa

    Launched in October 2022, the Biosecurity Hub is a joint initiative between the Department of Agriculture, then Department of Agriculture, Land Reform and Rural Development (DALRRD), and Department of Science Technology and Innovation.

    The hub is an innovative platform designed to foster collaboration, enhance information sharing, and strengthen our collective capacity to respond to biological threats, not only for South Africa, but potentially across the continent.

    It is a strategic outcome aligned with the overarching objectives of the Agricultural Agro-Processing Masterplan (AAPM) and the Decadal Plan. Both these national frameworks emphasise the importance of safeguarding agricultural value chains, promoting sustainable, trade, agro-processing, and ensuring food security utilising also biotechnologically advanced practices. – SAnews.gov.za
     

    MIL OSI Africa –

  • MIL-OSI Africa: Condolences for families who lost loved ones in cold snap

    Source: South Africa News Agency

    President Cyril Ramaphosa has expressed his condolences to the families of the six people who died as a result of severe weather and flooding in the Eastern Cape.

    The province has experienced flooding, windy conditions and snow recently. 

    The President implored communities to take caution as the severe winter conditions persists. 

    “While government discharges its responsibilities and services to citizens, we welcome the support we see at times such as this from businesses, community- and faith-based organisations, charities and organisations such as the National Sea Rescue Institute. I thank everyone from all walks of life who are working to keep all of us safe and comfortable this winter.

    “This is a time where we need to take care of ourselves in our homes and reach out to neighbours and friends who need help of any kind.

    “We also need to exercise caution on our roads when travelling for work or leisure, or as we get out in nature where we may want to see such sights as snowfalls or flooded rivers. We must observe by-laws and regulations that exist to protect us in these conditions,” the President said in his statement on Wednesday.

    Furthermore, the President urged communities to stand together during this time.

    “We must pull together where disaster strikes and while none of us should evade accountability, we must put problem-solving and collaboration ahead of blame and conflict.

    “Our beautiful country is a safe, comfortable, and enjoyable place for all of us for most of the year, but we cannot escape winter’s intensity and our own vulnerability. Let’s show our care for each other this winter and let ubuntu see us through to spring,” President Ramaphosa said. 

    This as the South African Weather Service (SAWS) issued a Level 9 warning for heavy rain and thunderstorms over the eastern half of the Eastern Cape with possible flooding over the OR Tambo District Municipality.

    This as the cut-off low system persists over the interior of the country.

    READ | Eastern Cape residents urged to postpone travel amid warning of heavy rain

    Meanwhile, adverse weather has also affected other parts of the country with the N2 around Kokstad and Port Shepstone having been closed due to snowfall.

    “To save lives, we have decided to close completely the road between Kokstad and Pietermaritzburg as well as the R603 – Tacoma to Reit. Our message to motorists and snow chasers is that prevention is better than cure,” said KwaZulu-Natal MEC for Transport and Human Settlements, Siboniso Duma.

    READ | N2 in KZN closed due to snowfall

    In addition, the Road Traffic Management Corporation (RTMC) has called on motorists to take extra caution when driving on the roads as icy cold weather conditions have gripped the Eastern Cape and KwaZulu-Natal.

    The North West Provincial Government ( NWPG) has urged communities to stay vigilant amid severe weather and strong, fire-spreading winds.

    “Freezing weather is upon us and an increasing dependence on indoor heating techniques like paraffin stoves, heaters and open fires are likely to be the order of the day,” the North West Provincial Government (NWPG) said in a statement.

    READ | Call for caution as severe winter weather increases risk of domestic and veld fires

    Ahead of the start of the icy weather, the Minister of Cooperative Governance and Traditional Affairs (CoGTA), Velenkosini Hlabisa, also called for increased vigilance.

    “This intense cold front is expected to begin over the weekend and affect large parts of the country,” he said in a statement on Friday.

    – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: President passes condolences for former Eastern Cape High Court Judge President

    Source: South Africa News Agency

    Wednesday, June 11, 2025

    The passing of former Judge President of the Eastern Cape Division of the High Court, Justice Clement Temba Sangoni, is a “profound loss” to South Africa’s legal heritage.

    This is according to President Cyril Ramaphosa, who has expressed his condolences to Sangoni’s family, following the justice’s passing on Tuesday.

    “The passing of Justice Sangoni is a devastating loss to his family and immediate community, and it is a profound loss to our judiciary and our legal heritage.

    “Judge Sangoni lived for justice and the improvement of the material conditions of communities in the Eastern Cape and elsewhere through constitutionally sound, progressive jurisprudence,” the President said.

    He praised Sangoni’s commitment and service to the bench in the Eastern Cape.

    “Under his leadership, the Judiciary in the Eastern Cape also applied its mind collectively and individually to matters pertaining to the development of this economically vital province.

    “Judge Sangoni served the people of the Eastern Cape from the Bench and through his deep involvement in community life in his role as a traditional leader – a role which enriched his adjudication of a broad range of matters placed before the courts.

    “We will continue to appreciate his contribution to the rule of law and the wisdom of law in our country and to the communities in which he lived and served with distinction. May his soul rest in peace,” President Ramaphosa said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: Condolences pour in for judicial stalwart, Justice Sangoni

    Source: South Africa News Agency

    Wednesday, June 11, 2025

    Minister of Justice and Constitutional Development, Mmamoloko Kubayi, has hailed former Judge President of the Eastern Cape Division of the High Court, Justice Clement Temba Sangoni’s contribution to the law fraternity following his passing.

    He passed away on Tuesday at the age of 78, following a short illness.

    Sangoni also served as a senior traditional leader of the Qokolweni-Zimbane Traditional Council in Mthatha, in the Eastern Cape.

    “His passing is a profound loss, not only to the justice system, but also to the nation, especially to the people under the Qokolweni-Zimbane Traditional Council, whom he served with distinction and dedication, and who will remember him for his unwavering commitment to justice and community leadership.

    “The passing of Justice Sangoni leaves a vacuum in the justice fraternity that can never be filled. His contributions to the judiciary and the country at large will forever be remembered and cherished,” Kubayi said.

    Sangoni’s legal career spanned some 40 years and culminated in his appointment as Judge President in the Eastern Cape High Court in 2010 – a position he held until his retirement in 2017.

    “Justice Sangoni passes away at a critical time as South Africa is seized with efforts to expand access to justice. His passing comes as the department intensifies its work on developing Traditional Courts Regulations aimed at transforming existing Traditional Courts to align them with the values and principles of the Constitution. 

    “Justice Sangoni, whose life and career bridged both the judicial and traditional leadership spheres, would have made a profound contribution to this important work,” Kubayi said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Africa: Mop-up operations underway in KwaZulu-Natal after heavy snowfall

    Source: South Africa News Agency

    Mop-up operations are underway in KwaZulu-Natal following severe snowfall, which caused disruptions to major routes and damaged infrastructure.

    Giving an update on the snowfall response measures, following the closure of the N2 highway around Kokstad and Port Shepstone on Tuesday, KwaZulu-Natal Transport and Human Settlements MEC, Siboniso Duma, commended the coordinated efforts of motor grader operators and the Road Traffic Inspectorate (RTI), who worked around the clock to ensure the free traffic flow.

    Duma said the department on Tuesday set a target to remove the snow that blanketed the N2 (R56) along the route from Port Shepstone, Kokstad and Eastern Cape.

    “Importantly, I gave the team from the Pietermaritzburg Region a mandate to remove the snow before it could accumulate to above 30 cm. They have done exactly that and in record time. This is a historic achievement that inspires us to do more for the people of KwaZulu-Natal,” Duma said.

    Snowfall response measures

    In anticipation of severe weather, the province activated its comprehensive snowfall response plan following alerts from the South African Weather Service (SAWS). 

    Measures included:

    •    The Road Safety and Traffic Inspectorate involved in the coordination of possible road closures and observation of major routes in consultation with N3 Toll Concession. The focus is on N2, Kokstad and Port Shepstone, N3 between Harrismith, Tugela Toll, R617 between Kokstad and Underberg, Ingeli and N3 Mooi-River, and others.
    •    Drivers of motor graders sharpened to respond with speed and a sense of urgency to remove any snow before it accumulates to more than 30cm in depth on the road. More than 10 graders to be stationed on identified routes to ensure that the response is faster.
    •    The provincial government interacted with the South African Weather Service to ensure that the response is based on authentic information.

    Duma said t the province has applied lessons learned during last year’s snowfall that was triggered by the cut-off low-pressure system.

    However, despite these efforts, he said several motorists, including trucks and luxury buses, became stuck along the N2 in the early hours of Tuesday morning.

    “We continue to plead with members of the public to heed the warning from the SA Weather Service. If you are asked to delay your trips, please do so in order to save your life. Prevention is better than cure,” Duma said.

    District municipalities road conditions

    The Department of Transport also provided an update on the status of roads across various district municipalities:
    •    eThekwini Metropolitan Municipality: All roads are open. No effect from adverse weather. Experiencing heavy wind on the coastal area.
    •    Ilembe District Municipality: All roads are open. No effect from adverse weather. Experiencing heavy wind on coastal area at this time.
    •    uMgungundlovu District Municipality: All roads are open. No effect from adverse weather. Experiencing heavy Berg winds currently.
    •    Umkhanyakude District Municipality: All roads are open. Experiencing windy conditions. The main concern is a fallen tree on the road at R22, Section 2, which was reported last night. Our standby team responded promptly and removed the tree. The rehabilitation contracts are proceeding smoothly with only day closures currently in place. 
    •    Zululand District Municipality: No issues have been reported, and the patrol teams are actively monitoring the route.
    •    King Cetshwayo District Municipality: All seems to be in order for now. The patrol teams are inspecting the route.
    •    N2 Ugu District Municipality: Rain with strong winds. Fallen trees are being attended by Routine Road Management (RRM). No major issues to report on the N2 towards Port Edward and N2 towards Harding.
    •    Harry Gwala District Municipality: The N2 from Ingeli towards Kokstad triangle is closed due to the snow. N2 from Kokstad triangle (Kokstad Bridge project) towards Brooksnek is also closed due to snow.
    •    Amajuba District Municipality: N11-3 and 4 is clear. Just very high, icy winds prevailing.
    •    Uthukela District Municipality: N11-1 and 2 are clear. Just very high, icy winds prevailing. Snow on the Drakensberg but not effecting any roads.
    •    Umzinyathi District Municipality: N11-3 clear. Just very high, icy winds prevailing.

    “There is rain and strong winds in Umzimkhulu and Ixopo. uMzimkhulu RTI and RRM closed the road on the N2 Stafford Post (Umzimkhulu area) because motorists are not heeding snow warnings and trying to go through despite the snow in Beesterkraal,” Duma said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Europe: Youth crime prevention and financial literacy focus during summer school visit to OSCE

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: Youth crime prevention and financial literacy focus during summer school visit to OSCE

    Sixty students got an in-depth look at the OSCE’s comprehensive work on organized crime during a visit to the OSCE in Vienna, Austria on 10 June. Each year a group of students visit the Organization as part of the European Consortium for Political Research’s summer school on transnational organized crime.
    “Young people are both the most vulnerable to organized crime and the most powerful agents of change. Through initiatives like the summer school visit, we equip future leaders with the knowledge and tools — such as financial literacy and inclusive prevention strategies — to drive effective and sustainable solutions in their respective communities,” said Umberto Severini, Head of the Strategic Police Matters Unit in the OSCE’s Transnational Threats Department.
    This year’s visit focused on emerging trends in youth recruitment into organized crime, particularly in the areas of drug distribution and exploitation. It was also an opportunity for participants to examine key risk factors contributing to youth vulnerability and explore effective prevention strategies.
    Special attention was given to a newly released OSCE publication on financial literacy, which highlights how a lack of financial awareness can increase susceptibility to criminal recruitment, as well as showcases good practices in prevention.
    During hands-on exericses, participants analysed practical tools and approaches that participating States can adopt to counter youth involvement in criminal networks, including through early education and targeted community initiatives. A group activity challenged students to design a youth-focused, financially informed prevention strategy, combining theoretical insights with real-world application.
    The students also had a chance to network with each other and OSCE experts, helping them to consider various career paths and share perspectives across diverse academic and cultural backgrounds.
    “Today’s focus on fostering a culture of the rule of law, strengthening anti-corruption literacy, and building youth resilience to criminal recruitment illustrates the critical synergy between education and policy. I am deeply grateful to the OSCE Secretariat — particularly the Transnational Threats Department and the Office of the Special Representative and Co-ordinator for Combating Trafficking in Human Beings — for creating such an enriching, hands-on learning experience that equips our students with the knowledge, skills, and inspiration to become agents of change”, said Dr. Yuliya Zabyelina, Associate Professor at the University of Alabama, USA, and Director of the Summer School on Transnational Organized Crime.
    “Participating in this summer school and visiting the OSCE Secretariat was a truly eye-opening experience,” said Maral Jumadurdyyeva, a Master of Arts student in Politics and Security at the OSCE Academy in Bishkek. “The sessions on youth recruitment into organized crime and trafficking deepened my understanding of the complex vulnerabilities youth face today, and how preventive strategies – especially those grounded in financial literacy – can make a tangible difference.”

    MIL OSI Europe News –

  • MIL-OSI Europe: With the support of the European Union, OSCE concludes “Training of Trainers” course for female officers of Tajikistan’s Border Troops

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: With the support of the European Union, OSCE concludes “Training of Trainers” course for female officers of Tajikistan’s Border Troops

    With the support of the European Union, OSCE concludes “Training of Trainers” course for female officers of Tajikistan’s Border Troops | OSCE

    Skip navigation

    Navigation

    Navigation

    Home Newsroom News and press releases With the support of the European Union, OSCE concludes “Training of Trainers” course for female officers of Tajikistan’s Border Troops

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Plymouth champions positive ageing

    Source: City of Plymouth

    Plymouth City Council is proud to support Age Without Limits Day (11 June) as part of its ongoing Ageing Well programme, a city-wide initiative that celebrates the value of older people and aims to make Plymouth a place where older people are empowered to live life to the fullest.

    This year’s Age Without Limits Day theme is ‘Celebrate Ageing. Challenge Ageism.’ It highlights the need to recognise the diverse experiences of growing older and to confront the everyday ageism that too often goes unnoticed, from patronising language to assumptions about capability.

    More than a third of Plymouth’s population is aged 50 and over. The city’s Ageing Well programme envisions Plymouth as one of Europe’s most vibrant waterfront cities, where everyone is supported and age should not be a barrier to living a full and active life.

    Councillor Mary Aspinall, Cabinet Member for Health and Adult Social Care, said: “Ageing is something we all experience, so it’s in everyone’s interest to ensure our city supports people to thrive at every stage of life.

    “Older people make enormous contributions to our communities as employees, volunteers, carers and neighbours. Age Without Limits Day is an important reminder that ageing is something to be celebrated, not feared. Let’s challenge the stereotypes and build a city where everyone, regardless of age, feels valued and included.”

    Plymouth is already home to a wealth of opportunities that support healthy and active ageing. Residents are encouraged to visit the Council’s online Ageing Well Hub for more information about:

    • Age Friendly places and spaces
    • Help and advice
    • Employment, skills and volunteering opportunities
    • Travel
    • Health and wellbeing.

    Visit the Ageing Well Hub at: www.plymouth.gov.uk/ageing-well-hub.

    For more information about Age Without Limits, visit: https://www.agewithoutlimits.org.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Call 5 of the Digital Transformation Flexible Fund is now open

    Source: Northern Ireland City of Armagh

    Simon Hewitt, Titus Solutions Craigavon.

    The Digital Transformation Flexible Fund (DTFF) has officially opened its fifth funding call, inviting small and micro businesses across the ABC borough to apply for grants ranging from £5,000 to £20,000.

    This initiative aims to support the adoption of advanced digital technologies, enhancing competitiveness and driving innovation.

    Craigavon-based manufacturing firm, Titus Solutions, exemplifies the impact of DTFF. After securing £20,000 funding in a previous call, the company invested in a robotic welder with desktop programming and simulation, significantly enhancing operational efficiency and reducing production times.

    Lord Mayor of Armagh City, Banbridge and Craigavon Borough, Alderman Stephen Moutray, said:

    “We welcome the fifth call of this funding programme that will hopefully aid our local businesses in their digital innovation endeavours. As the world around us is constantly moving forward in terms of digital advancements, it is crucial that the businesses in our borough get the support they need in order to be at the forefront of this transformation. I encourage businesses to find out more and attend one of the briefing sessions either online or in person.”

    Simon Hewitt, Managing Director of Titus Solutions, stated:

    “The DTFF grant was a game-changer for us. Implementing robotics and AI technology streamlined our processes, cut production times, and boosted overall productivity. It’s been instrumental in our growth.”

    Eligible projects must focus on transformative technologies, including artificial intelligence, machine learning, process automation, big data analytics, immersive technologies, and the Internet of Things. The fund covers up to 70% of project costs, with applicants providing the remaining 30%.

    Expressions of Interest for Call 5 close at 12 noon on Friday 11 July 2025. ABC Council and DTFF will host a series of pre-application briefing sessions which will provide detailed information on eligibility criteria, application processes, and insights into successful digital transformation projects just like Titus Solutions. Dates and registration details are available on the DTFF website: dtff.co.uk

    Delivered by all 11 local councils under the Full Fibre Northern Ireland Consortium (FFNI) and supported by Invest NI, DTFF is part-funded by the NI Executive, UK Government, Department of Agriculture, Environment and Rural Affairs (DAERA), and local authorities.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Volunteers help to spruce up York

    Source: City of York

    Published Tuesday, 10 June 2025

    City of York Council joined York BID and over 20 volunteers today, 10 June, to roll up their sleeves and help spruce up York city centre, as part of their rejuvenation days.

    This community-powered project is all about bringing a little extra shine to our streets by cleaning and repainting street furniture like bike racks, benches, bollards and more.

    Since the York BID led project launched in January 2024, the response has been incredible. Over 300 brilliant volunteers have given up their time to repaint 1,100 pieces of individual infrastructure across 57 different streets.

    Before the painting begins, the dedicated BID Street Cleaning Team will prep the area by power washing, cleaning away weeds, and removing stickers and posters.

    Council teams helped to tackle the more stubborn bits, and get them properly refreshed.

    Sessions are taking place throughout June, and if volunteers can’t make it, they can sign up early for a September session.

    Councillor Jenny Kent, Executive Member for Environment and Climate Emergency, said:

    I was really pleased to join all the volunteers, council crews and BID team again, this time smartening up College Green. They’ve all done a great job and I’d like to thank everyone who has taken part. Rejuvenation days are a great way to bring communities together and make a real difference to where we live. Together we can all help make York shine”

    Carl Alsop, Operations Manager at York BID, said:

    Since we started this project, we’ve been blown away by the support and enthusiasm from businesses, residents, and community groups. Over 300 people have already got stuck in and it’s been brilliant to see everyone come together to make our city centre a cleaner and more welcoming space. We can’t wait to see what the next few months bring!”

    There are lots of volunteer opportunities through the council to build pride in place, by contacting environmentandcommunity@york.gov.uk.

    Sign up now and be part of something special or contact info@theyorkbid.com for more information.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Scientists of the State University of Management are expanding their partnerships: meetings were held with the management of the Leningrad Region Committee for Transport and the Belarusian State Technical University “VOENMEKH”

    Translation. Region: Russian Federal

    Source: State University of Management – Official website of the State –

    On June 10, 2025, as part of expanding opportunities for solving strategic tasks to achieve technological leadership of the Russian Federation and in accordance with existing competencies, scientists and specialists of the State University of Management visited the Leningrad Region Committee for Transport and the BSTU “VOENMEKH” named after D.F. Ustinov.

    The Committee is a sectoral body of the executive power of the Leningrad Region and a structural element of the Administration of the Leningrad Region. Among the tasks of the Committee’s work is the implementation of powers to organize transport services for the population of the region, as well as the formation of a strategy for the development of the transport complex, the development of forms and methods for its implementation based on forecasting, planning and program-target management, coordination and methodological guidance of work on the implementation of the strategy at the municipal level.

    The delegation of the State University of Management included: Vice-Rector Maria Karelina, Chief Researcher of the Scientific Research Coordination Department Aleksey Terentyev and Head of the Department Maxim Pletnev.

    The Chairman of the Committee Mikhail Prisyazhnyuk spoke about the main goals and objectives of the organization. Particular attention was paid to infrastructure projects and the formation of the digital contour of the Leningrad Region. The parties discussed the main areas of interaction and agreed to sign a framework agreement on cooperation. As part of the training of highly qualified personnel, it is planned to develop a network-based postgraduate program in the direction of “Logistics Transport Systems”. The Transport Committee has an extensive practical base, which will allow dissertation research to be carried out in close connection with the needs of the transport industry of the Leningrad Region. The Head of the Committee accepted the offer to participate in the educational process of the State University of Management in the programs “Transport Systems Management”, “Transport and Logistics”.

    Another direction for expanding the scope of scientific projects was worked out with the BSTU “VOENMEKH” named after D.F. Ustinov. The university is one of the leading defense and technical universities in the country and trains specialists for enterprises of the defense-industrial complex in the field of aircraft manufacturing and astronautics, radio engineering, energy, mechatronics and robotics, IT technologies.

    The meeting was attended by the Vice-Rector of the State University of Management Maria Karelina, the Director of the Engineering Project Management Center Vladimir Filatov, the Researcher of the Center Dmitry Rybakov, the Junior Researcher of the Reverse Engineering Laboratory Nikita Akinshin. From BSTU “VOENMEKH” the negotiations were attended by the Acting Vice-Rector for Research and Innovative Development Vladimir Voronov and the Head of the Rocketry Department Vyacheslav Borodavkin.

    The parties exchanged achievements in the field of scientific research, experience in implementing projects and discussed prospects for joint work on R & D. A representative of the real sector of the economy, Mikhail Petrov, Director of Development of the Petersburg Machine-Building Plant, took part in the meeting. The plant specializes in the production of tractors and agricultural machinery. The meeting participants discussed a joint project to develop a new type of equipment.

    Representatives of BSTU “VOENMEKH” and the Petersburg Machine-Building Plant were invited to the State University of Management to sign a cooperation agreement, get acquainted with the Student Design Bureau at the university and the results of the work on the Large Scientific Project. Colleagues from BSTU “VOENMEKH” were also interested in the competencies of the State University of Management specialists in the field of machine vision.

    Within the framework of the agreement, it is planned to implement network programs in the field of scientific projects – the State University of Management has serious competencies in the field of project management, including scientific projects.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI United Nations: IOM Mobilizes Urgent Aid After Tragic Incident Off Djibouti Coast

    Source: International Organization for Migration (IOM)

    Djibouti/Geneva, 11 June 2025 – The International Organization for Migration (IOM), in close coordination with Djiboutian authorities, is scaling up its humanitarian response following a tragic incident off the coast of Djibouti that left at least eight migrants dead and 22 others missing. 

    According to testimonies from survivors, the boat – carrying around 150 people – was stopped at sea on June 5 by smugglers who forced the passengers to disembark far from the coast. The passengers were left to swim for their lives in open water.

    “Every life lost at sea is a tragedy that should never happen,” said Celestine Frantz, IOM Regional Director for the East, Horn and Southern Africa. “These young people were forced into impossible choices by smugglers who show no regard for human life. We are doing everything we can to support the survivors and prevent further loss along this deadly route.”

    So far, search and rescue operations, supported by IOM and Djiboutian authorities, have recovered five bodies from the sea near Moulhoulé. The confirmed death toll stands at eight, though more are feared as search efforts continue.

    IOM teams are on the ground assisting in search and rescue operations and delivering life-saving assistance to survivors, in coordination with national authorities. In the days following the incident, many of those rescued were found in the desert by IOM’s mobile patrols and are currently receiving urgent medical care at a local hospital and psychosocial support at the IOM-run Migrant Response Center in Obock.

    Each year, thousands of migrants from the Horn of Africa risk their lives along this perilous route in hopes of reaching the Gulf States. This latest tragedy is part of a series of fatal maritime incidents off the coast of Djibouti, underscoring the urgent need for stronger protection mechanisms for migrants along the migration route between the Horn of Africa and Yemen.

    In response to this growing crisis, IOM is calling for increased international support to strengthen search and rescue operations and expand access to safe migration pathways.

    For more information, please contact IOM Media Centre.

    MIL OSI United Nations News –

  • MIL-OSI Economics: Liquidity requirements and liquidity facilities

    Source: Bank for International Settlements

    Good morning, everyone.

    Introduction

    The events of 2023 were a stark reminder of the evolving nature of financial risks. The digitalisation of finance and the influence of social media have amplified the speed and severity of bank runs, creating new challenges for regulators and institutions alike. In response, two key avenues have emerged in the debate on improving liquidity risk management.

    First, there is the potential refinement and strengthening of liquidity requirements, particularly the Liquidity Coverage Ratio (LCR). Second, there is a renewed focus on ensuring banks’ operational readiness to access central bank liquidity support during periods of stress.

    To date, these approaches have largely been pursued independently. However, I believe that integrating these two dimensions offers a more comprehensive framework for addressing liquidity risk. In doing that, there would be more chances to improve the control of liquidity risks without introducing overly restrictive regulatory requirements that could undermine commercial banks business models. Today, I will outline how that integration could take place, the challenges it entails and a potential framework to address them.

    The limitations of current prudential regulation

    Let us begin by examining the current regulatory framework for liquidity risk. In the aftermath of the Great Financial Crisis, liquidity requirements became a key component of the new regulatory standards, Basel III. In particular, the LCR was created with the purpose of ensuring that banks maintain a sufficient stock of high-quality liquid assets (HQLA) to withstand a severe liquidity stress scenario over a 30-day period.

    The LCR has proven to be an effective tool in many respects. It asks banks to put in place a sort of self-insurance that reduces the likelihood that they will resort to drastic and potentially destabilising measures during periods of liquidity stress. It also gives banks and supervisors critical time to prepare for the orderly resolution of institutions that are no longer viable.

    However, recent events have exposed limitations in the LCR calibration. During the 2023 turmoil, actual runoff rates far exceeded the assumptions underlying the LCR. For instance, Silicon Valley Bank experienced deposit outflows in a single day that surpassed what the LCR stress scenario assumes for an entire month.

    Moreover, the definition of HQLA has come under scrutiny. Current eligibility criteria do not differentiate between instruments based on their accounting treatment. This raises questions about the practical availability of certain – theoretically liquid – assets during stress scenarios. In particular, as the sale of instruments held at amortised cost may generate solvency-weakening capital losses, the suitability of those assets to meet liquidity requirements can be questioned.

    In the light of these challenges, some have called for more stringent LCR calibration, entailing higher assumed runoff rates of certain deposits and/or constraints in the eligibility of assets that are not measured at fair value in the calibration of LCR. While this response is understandable, it is important to recognise the limits of self-insurance. Excessively stringent requirements could impair banks’ ability to perform their core intermediation function, which, by definition, typically implies assuming a fair amount of liquidity risk.

    The case of Silicon Valley Bank illustrates this dilemma. The bank faced deposit withdrawals amounting to 25% of its total deposits in a single day, with an additional 60% expected the following day. If banks were required to regularly hold sufficient liquid assets to fully cover such extreme scenarios, most would struggle to engage in any meaningful commercial activity1. At the same time, that approach would assume that banks can only resort to their own holding of liquid assets in stress situations, thereby ignoring any external source of liquidity support.

    This brings us to a second component of the current policy framework: central bank liquidity facilities.

    The role of central bank liquidity support

    Central banks play a crucial role as lenders of last resort, providing liquidity support to solvent banks during periods of stress. But it is true that the availability of this support depends on the holdings of acceptable collateral which, for most central banks, include non-tradable assets, after imposing adequate haircuts.

    For a typical commercial bank, runnable liabilities – such as uninsured deposits and short-term market funding – represent 30–50% of total unencumbered assets. This suggests that, even with significant haircuts, sound banks generally have sufficient assets that could in principle be used as collateral to secure emergency loans from central banks.

    Yet accessing central bank liquidity support is not without challenges. The process of pledging collateral involves legal, operational and valuation complexities, particularly for non-traded assets. In severe liquidity stress scenarios, when time is of the essence, these challenges can become significant obstacles.

    To address these issues, central banks must ensure that banks are operationally prepared to use their facilities. This includes requiring them to have the necessary arrangements in place to pledge collateral, along with regular testing and simulation exercises to ensure readiness.

    An additional measure is the introduction of prepositioning requirements. Prepositioning involves banks providing central banks with detailed information about their collateral assets, along with all necessary documentation to assess eligibility, transferability and valuation. While many central banks encourage prepositioning, few mandate it.

    Some proposals go further. For example, the “pawnbroker for all seasons” approach advocates that banks preposition sufficient collateral with the central bank to fully back their runnable liabilities.2 These liabilities would include all deposits and short-term market funding, with the collateral amount determined after applying conservative haircuts. In its original formulation, this proposal was presented as a possible substitute of key elements of the current regulatory, supervisory and deposit insurance frameworks. A more moderate alternative is proposed by the Group of Thirty, which recommends calibrating prepositioning requirements based on a narrower set of liabilities, excluding insured deposits.34

    A tiered framework for liquidity controls:

    As I mentioned before, the policy debate has thus far dealt with two issues in parallel: recalibrating banks’ existing liquidity requirements, and strengthening banks’ operational readiness to access central bank liquidity support during stress situations. However, these two debates should be more interconnected. Specifically, there appears to be a tension between making the stress scenario underlying the calibration of the LCR more severe while simultaneously ignoring the possibility that banks could obtain liquidity from central banks in such adverse scenarios.

    Given the complementary roles of regulatory liquidity requirements and central bank liquidity support, in a recent Financial Stability Institute (FSI) paper5 we propose a framework that integrates these two dimensions. This framework introduces a tiered approach to asset eligibility, corresponding to different levels of liquidity stress.

    In moderate stress scenarios, it seems reasonable to rely on self-insurance and require banks to hold sufficient HQLA to manage their needs without relying on central bank facilities. This is partly because using central bank liquidity support may carry a stigma.

    However, as the severity of the stress increases the “anticipatory” stigma associated with central bank support becomes a less important consideration, while large-scale asset sales by banks could become even more destabilising for markets.

    The criteria for asset eligibility under central bank liquidity facilities are generally less stringent than the HQLA requirements. For instance, non-tradable assets – such as bank loans – are often eligible as collateral for central bank lending. Central banks also tend to apply even more flexible collateral eligibility criteria for emergency liquidity assistance compared with that for their standing lending facilities.

    This suggests a framework with three tiers of asset eligibility, corresponding to different levels of liquidity stress:

    • Type 1 assets: HQLA, which banks are expected to hold to address moderate stress scenarios without relying on central bank facilities.
    • Type 2 assets: HQLA plus other assets that, after standard haircuts, could be used as collateral for central banks’ standing lending facilities.
    • Type 3 assets: HQLA plus additional assets that could be used to collateralise either standing facilities or, with more conservative haircuts, emergency liquidity support in extreme stress scenarios.

    Therefore, in order to better monitor banks’ liquidity risks, in addition to the current regulatory controls (based on the notion of self-insurance), taking into account the availability of collateral that could be used to obtain liquidity from the central bank in alternative stress scenarios with different degrees of severity could be considered.

    Arguably, the way in which central bank support could be factored in should be jurisdiction-specific, reflecting the significant variations in central banks’ operational frameworks across countries. In this context, given its flexibility, Pillar 2 emerges as a natural choice to enhance the effectiveness of banks’ liquidity risk controls. Additionally, Pillar 2 measures could take into account bank-specific characteristics, such as funding concentrations and, possibly, the extent to which banks rely on amortised cost instruments to meet HQLA requirements.

    Importantly, Pillar 2 measures based on the availability of eligible collateral should take the form of guidance or supervisory expectations and avoid being over-prescriptive. As such, they could function as complementary indicators to monitor banks’ liquidity situation. More formal and rigid requirements could be subject to disclosure obligations. This would potentially exacerbate the stigma effect that may be associated with central bank borrowing, hence reducing those Pillar 2 measures’ effectiveness.

    In this framework, the three tiers of asset eligibility could be used to define three indicators for liquidity control, which would be used either for Pillar 1 requirements or Pillar 2 supervisory guidance:

    • The first indicator would be a Pillar 1 minimum liquidity requirement consistent with the current LCR in terms of both eligible assets and the stress scenario.
    • A first supplementary liquidity ratio under Pillar 2 would be designed as a reformulation of the LCR. It would show the level of liquidity that banks hold, or are able to obtain, to cope with a stress scenario that is more severe than what the LCR assumes. This suplementary liquidity indicator would therefore include not only holdings of HQLA but also assets which would be eligible (after haircuts) as collateral of central banks’ standing facilities.
    • A second supplementary liquidity ratio under Pillar 2 would be designed to measure the bank’s ability to address extreme liquidity stress. For this ratio, eligible assets will include those that are eligible for LCR and the first suplementary ratio but will also include assets which could be acepted by the central bank (normally after severe haircuts) when providing emergency liquidty support.

    From an operational perspective, when computing the two supplementary ratios, the proposed framework would require that eligible non-tradable assets be prepositioned with the central bank to ensure their swift mobilisation in times of need. As such, if the stress scenario underpinning the second supplementary ratio were to assume a run on all uninsured deposits and short-term funding, supervisory expectations about the level of this ratio would closely align with the recommendations outlined in the Group of Thirty report.

    In keeping with the principles of Pillar 2, authorities would have the discretion to implement guidance on one or both supplementary ratios, depending on their specific needs and circumstances, including with regard to the characteristics of domestic frameworks for central bank liquidity support. They would also be responsible for calibrating the severity of the stress scenarios and for determining the range of eligible assets for each supplementary ratio.

    The simulations we have conducted at the FSI suggest that covering significantly more stringent stress scenarios than the one currently underpinning the LCR solely with HQLA would be challenging for most banks. At the same time, sound banks would generally be well positioned to comply with reasonable supervisory expectations for the supplementary ratios if they were to preposition non-HQLA, particularly in jurisdictions with broad collateral frameworks. In contrast, banks with a high volume of runnable liabilities would probably struggle to meet these expectations.

    Conclusion

    Let me conclude.

    As policymakers, regulators and industry participants, it is our collective responsibility to ensure that the lessons of 2023 translate into meaningful reforms. At the same time, we must ensure that prudential controls do not unduly challenge the sustainability of otherwise sound business models.

    The 2023 banking turmoil underscored the need for a more integrated approach for controlling banks’ liquidity risk. While the current regulatory framework provides a robust foundation, current requirements need to be complemented with an assessment of banks’ ability to cope with more severe liquidity scenarios. That assessment should factor in the availability of sufficient assets that can be expeditiously used to collateralise access to central bank liquidity facilities.

    By introducing a tiered approach to asset eligibility and incorporating central bank facilities and collateral prepositioning, we can enhance the robustness of the existing control framework for banks’ liquidity risks in the current environment. This integrated framework should help ensure that sound banks remain resilient to severe liquidity shocks without requiring a fundamental reshuffling of their balance sheets.

    Thank you.

    References

    Barr, M (2024): “Supporting market resilience and financial stability”, speech at the 2024 US Treasury Market Conference, Federal Reserve Bank of New York, New York, 26 September.

    Coelho, R and F Restoy (2025): “Rethinking liquidity requirements”, FSI Insights on policy implementation, no 25, May.

    Group of Thirty (2024): Bank failures and contagion: lender of last resort, liquidity and risk management, January.

    King, M (2023): “We need a new approach to bank regulation”, Financial Times, 12 May.

    Restoy, F (2024): “Banks’ liquidity risk: what policy could do”, speech  at the XXIII Annual Conference on Risks, Club de Gestión de Riesgos de España, Madrid, 22 November.

    Tucker, P (2014): “The lender of last resort and modern central banking: principles and reconstruction”, BIS Papers, no 79, September.

    MIL OSI Economics –

  • MIL-Evening Report: More deaths reported out of Sugapa in West Papua clashes with military

    By Caleb Fotheringham, RNZ Pacific journalist

    Further reports of civilian casualties are coming out of West Papua, while clashes between Indonesia’s military and the armed wing of the Free Papua Movement continue.

    One of the most recent military operations took place in the early morning of May 14 in Sugapa District, Intan Jaya in Central Papua.

    Military spokesperson Lieutenant-Colonel Iwan Dwi Prihartono said in a video statement translated into English that 18 members of the West Papua National Liberation Army (TPNPB) had been killed.

    He claimed the military wanted to provide health services and education to residents in villages in Intan Jaya but they were confronted by the TPNPB.

    Colonel Prihartono said the military confiscated an AK47, homemade weapons, ammunition, bows and arrows and the Morning Star flag — used as a symbol for West Papuan independence.

    But, according to the TPNPB, only three of the group’s soldiers were killed with the rest being civilians.

    The United Liberation Movement for West Papua (ULMWP) said civilians killed included a 75-year-old, two women and a child.

    Both women in shallow graves
    Both the women were allegedly found on May 23 in shallow graves.

    A spokesperson from the Indonesian Embassy in Wellington said all 18 people killed were part of the TPNPB, as declared by the military.

    “The local regent of Intan Jaya has checked for the victims at their home and hospitals; therefore, he can confirm that the 18 victims were in fact all members of the armed criminal group,” they said.

    “The difference in numbers of victim sometimes happens because the armed criminal group tried to downplay their casualties or to try to create confusion.”

    The spokesperson said the military operation was carried out because local authorities “followed up upon complaints and reports from local communities that were terrified and terrorised by the armed criminal group”.

    Jakarta-based Human Rights Watch researcher Andreas Harsono said it was part of the wider Operation Habema which started last year.

    “It is a military operation to ‘eliminate’ the Free Papua guerilla fighters, not only in Intan Jaya, but in several agencies along the central highlands,” Harsono said.

    ‘Military informers’
    He said it had been intensifying since the TPNPB killed 17 miners in April, which the armed group accused of being “military informers”.

    RNZ Pacific has been sent photos of people who have been allegedly killed or injured in the May 14 assault, while others have been shared by ULMWP.

    Harsono said despite the photos and videos it was hard to verify if civilians had been killed.

    He said Indonesia claimed civilian casualties — including of the women who were allegedly buried in shallow graves — were a result of the TPNPB.

    “The TPNPB says, ‘of course, it is a lie why should we kill an indigenous woman?’ Well, you know, it is difficult to verify which one is correct, because they’re fighting the battle [in a very remote area],” Harsono said.

    “It’s difficult to cross-check whatever information coming from there, including the fact that it is difficult to get big videos or big photos from the area with the metadata.”

    Harsono said Indonesia was now using drones to fight the TPNPB.

    “This is something new; I think it will change the security situation, the battle situation in West Papua.

    “So far the TPNPB has not used drones; they are still struggling. In fact, most of them are still using bows and arrows in the conflict with the Indonesian military.”

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Africa: United Arab Emirates (UAE) Condemns Terrorist Attack on Military Site in Chad


    Download logo

    The UAE has condemned in the strongest terms the terrorist attack that targeted a military site in Chad, which resulted in the deaths of a number of soldiers.

    In a statement, the Ministry of Foreign Affairs (MoFA) stressed that the UAE expresses its strong condemnation of these criminal and terrorist acts and its permanent rejection of all forms of extremism and terrorism aimed at undermining security and stability.

    The Ministry expressed its sincere condolences and sympathy with the families of the victims, and with the government and people of Chad over this heinous and cowardly attack.

    Distributed by APO Group on behalf of United Arab Emirates, Ministry of Foreign Affairs.

    MIL OSI Africa –

  • MIL-OSI Africa: Artificial Intelligence (AI) to Bolster Oil Recovery as Africa Maximizes Production at Ageing Fields

    Africa’s mature oilfields are experiencing a renaissance and artificial intelligence (AI) is at the heart of this transformation. In an era defined by innovation and sustainability, enhanced oil recovery (EOR) technologies – powered by AI – are breathing new life into declining reservoirs. From predictive analytics to machine learning algorithms, AI is not just a tool; it is a catalyst for maximizing output, extending field life and improving operational efficiency. At the forefront of this conversation is the upcoming African Energy Week (AEW): Invest in African Energies 2025 – taking place September 29 to October 3 in Cape Town. During the event, energy leaders will converge to explore the role of digital transformation in advancing EOR across Africa.

    From Data to Big Barrels

    In 2025, the global market for AI in the oil and gas industry is estimated at $3.54 billion, set to rise to $6.4 billion by 2030. This is largely due to a rise in AI adoption by major operators. Examples include Baker Hughes and Repsol pooling resources to bring AI processes and workflows into oil and gas projects. Repsol has several developments underway in Libya, Algeria and Morocco and strives to bolster production across these markets. SLB inaugurated its Africa Performance Center in Luanda in 2025, which will support oil operations by offering access to digital solutions such as AI. SLB has supported several billion-dollar oil projects in Angola, with investments in almost every other region in Africa. 

    The power of AI in EOR comes down to predictive modeling. Traditional EOR relies heavily on limited data, with simplified reservoir models often impacting results. However, through AI, companies are able to analyze large datasets to deliver more accurate predictions of oil recovery. Another key benefit of AI in EOR is reservoir management. By analyzing geological and production data, companies can better-understand reservoir features, therefore supporting recovery techniques. Machine-learning also offers significant opportunities for EOR, specifically through its ability to recognize patterns, handle datasets and make accurate predictions. The application of machine-learning also enables reservoir performance forecasting, supporting decision-making by allowing companies to predict future production. 

    Policy Creates In-Roads for AI Deployment

    As Africa advances toward digital transformation, policy reform has become a vital enabler of AI adoption across the oil industry. By integrating digital solutions and targets into regulatory frameworks, countries can support investments in AI and machine learning while accelerating research and development. Various countries are streamlining policy to support EOR at legacy assets. Angola, for example, implemented its Incremental Production Initiative in 2024 which offers tax incentives to encourage reinvestments in mature oilfields. Energy major ExxonMobil made the first discovery – the Likembe-01 well – as part of the initiative in 2024, demonstrating the role policy plays in unlocking incremental resources. The African Union Commission also declared AI as a strategic priority for the continent in May 2025, citing the role machine-learning plays in transforming the continent’s development trajectory. The declaration is expected to create in-roads for technology companies, introducing new opportunities for oil operators to maximize recovery and efficiency.  

    AEW 2025: Where Innovation Meets Investment

    AEW: Invest in African Energies 2025 – the continent’s premier event for the energy sector – will host dedicated sessions on digital transformation, EOR and AI in exploration. A series of panel discussions and technical workshops will explore the new chapter of AI-driven oil production in Africa. AEW: Invest in African Energies 2025 will be the space where policy, capital and technology converge to define this next chapter.

    “Africa’s oil and gas assets hold immense value and AI is the key to unlocking resources efficiently and sustainably. In addition to support exploration efforts, AI will breathe new life into Africa’s ageing oilfields, extending field life, maximizing value and driving smarter, low-carbon production,” states NJ Ayuk, Executive Chairman, African Energy Chamber.

    Distributed by APO Group on behalf of African Energy Chamber.

    About AEW: Invest in African Energies
    AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit http://www.AECWeek.com for more information about this exciting event.

    MIL OSI Africa –

  • India sees radical change in transport infrastructure over the last decade

    Source: Government of India

    Source: Government of India (2)

    ndia has witnessed an unprecedented scale of infrastructure development over the past decade, driven by the success of a holistic and integrated approach under major national initiatives like PRAGATI, PM GatiShakti, the National Logistics Policy, Bharatmala, Sagarmala, and UDAN, according to an official report released on Wednesday.

    The report encapsulates the rapid transformation that has taken place in the country’s transport infrastructure across the highways, railways, maritime and civil aviation sectors of the economy on the back of massive investments made by the Central government in the last 10 years.

    The report highlights that PM GatiShakti unified planning across 44 ministries and 36 states/UTs on a GIS-based platform. Launched in 2021, the PM GatiShakti national master plan is a comprehensive initiative to improve multimodal infrastructure connectivity across India’s economic zones. Rs 100 lakh crore is being efficiently utilised through this integrated platform. Anchored on seven key sectors — railways, roads, ports, waterways, airports, mass transport, and logistics infrastructure — it promotes synchronised development across ministries and state governments.

    The length of India’s national highways network increased by 60 per cent from 91,287 km to 1,46,204 km during the last decade, with the pace of highway construction accelerating to 34 km/day from 11.6 km/day in 2014. There is an increase of 6.4 times in the Centre’s investment in road infrastructure between 2013-14 and 2024-25. The road transport and highway budget has shot up by 570 per cent from 2014 to 2023-24.

    The budget for Indian Railways has increased by more than nine times since 2014. The higher investment is reflected in the introduction of new Vande Bharat semi-high-speed trains covering 24 states/UTs along with 333 districts. A total of 68 Vande Bharat Trains are currently operational in the country, while another 400 world-class Vande Bharat trains are planned to be manufactured.

    More than 31,000 km of new tracks have been laid since 2014, and over 45,000 km of tracks have been renewed since 2014. The pace of electrification of the track network has jumped from 5,188 route km between 2004-14 to more than 45,000 route km being electrified in 2014-25. Electrification has enabled annual savings of Rs 2,960 crore for railways (up to February 2025), ensuring greater financial efficiency, the report states.

    It further highlights that the country’s port capacity has doubled to 2,762 MMTPA in the last 10 years, with the overall turnaround time for ships improving from 93 to 49 hours. As many as 277 projects have been completed under Sagarmala in the big push to port infrastructure.

    The report also lists major projects that have been completed in the ports sector, including the Vizhinjam International Deepwater Multipurpose Seaport. Inaugurated on May 2, 2025, by Prime Minister Narendra Modi, this Rs 8,800 crore project is India’s first dedicated container transshipment port. Strategically located near international shipping routes, it can host the world’s largest cargo ships. The port significantly reduces India’s reliance on foreign ports and enhances economic activity in Kerala.

    The New Dry Dock (NDD) at Cochin Shipyard Limited has been constructed at a cost of Rs 1,800 crore, with a length of 310 meters and a depth of 13 meters. It is capable of handling aircraft carriers of up to 70,000 tons. Besides, an international Ship Repair Facility has been set up in Cochin.

    India’s Inland waterways cargo has risen by 710 per cent (from 18 MMT to 146 MMT) in the last 10 years. Approval has also been given for Rs 5,370 crore investment to augment the capacity of National Waterway-1 (Haldia to Varanasi), this major inland navigation initiative enhances cargo movement on the Ganga River, the report points out.

    The report also highlights that new routes and new airports have been added to the civil aviation landscape of the country. The number of airports operational in India has gone from 74 in 2014 to 160 in 2025. The Cabinet Committee on Economic Affairs (CCEA) has approved the revival and development of unserved and underserved airports at a total cost of Rs 4,500 crore. In addition, the Expenditure Finance Committee also approved an amount of Rs 1,000 crore for the development of 50 more airports, heliports and water aerodromes under the UDAN scheme. This flagship scheme, launched in June 2016 to create affordable, yet economically viable and profitable air travel on regional routes, has been a big success with over 1.51 crore passengers having flown on these regional flights, the report added.

    (IANS)

  • India, Norway reaffirm commitment to sustainable ocean governance at UN conference in France

    Source: Government of India

    Source: Government of India (4)

    Union Minister Dr. Jitendra Singh met with Norway’s Minister of Fisheries and Ocean Policy, Marianne Sivertsen Ness, in Nice, France, on Wednesday to advance bilateral cooperation in sustainable fisheries and ocean governance. The meeting took place on the sidelines of the 3rd United Nations Ocean Conference (UNOC3).

    During their bilateral and delegation-level discussions, the two Ministers reaffirmed their countries’ long-standing partnership in marine resource management and the broader blue economy. The talks focused on shared priorities, including the sustainable use of marine resources, data sharing, and joint efforts to address overfishing and marine pollution, the Ministry of Earth Sciences said in a statement.

    Both sides emphasized the importance of global cooperation under the United Nations Decade of Ocean Science for Sustainable Development (2021–2030), with a focus on knowledge exchange, technology sharing, and capacity building. They also discussed expanding existing collaborations aligned with the development of a sustainable and inclusive blue economy.

    The India-Norway dialogue is viewed as a key step toward reinforcing multilateral efforts to ensure the long-term sustainability of global ocean resources, said the Ministry of Earth Sciences.

  • MIL-OSI Russia: US to Cut Defense Budget for Ukraine Next Year — Pentagon

    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

    HOUSTON, June 11 (Xinhua) — The U.S. administration will cut the defense budget for Ukraine next year, U.S. Defense Secretary Pete Hegseth said at a hearing in the House of Representatives on Tuesday.

    “We’re talking about cutting that [upcoming defense] budget,” the Pentagon chief told lawmakers. “This administration has a very different view of this conflict.”

    “We believe that a peaceful, negotiated settlement is in the interests of both sides and our country, especially given all the competing interests around the world,” he said.

    According to American media, Washington has provided Kyiv with more than $66 billion in aid since the start of the conflict between Russia and Ukraine in February 2022.

    MIL OSI Russia News –

  • MIL-OSI China: Announcement on Open Market Operations No.109 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.109 [2025]

    (Open Market Operations Office, June 11, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB164 billion through quantity bidding at a fixed interest rate on June 11, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB164 billion

    RMB164 billion

    Date of last update Nov. 29 2018

    2025年06月11日

    MIL OSI China News –

  • MIL-OSI China: China’s auto market maintains strong growth in January-May

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

    China’s auto production and sales logged double-digit increases in the first five months of the year, a sign of vibrant consumption in the world’s second-largest economy.

    The country’s auto output totaled 12.83 million units during the period, up 12.7 percent from a year ago, while auto sales rose 10.9 percent to 12.75 million units, the China Association of Automobile Manufacturers said Wednesday.

    In particular, new energy vehicles (NEVs) production surged 45.2 percent year on year to nearly 5.7 million units in the first five months, with sales up by 44 percent year on year to 5.61 million units.

    MIL OSI China News –

  • MIL-OSI China: 2025 Beijing Youth Curling Competition concludes at National Aquatics Center

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

    Athletes compete during the 2025 Beijing Youth Curling Competition held at the National Aquatics Center, Beijing. [Photo provided to China.org.cn]

    The 2025 Beijing Youth Curling Competition drew to a successful conclusion this weekend at the National Aquatics Center, following the preliminary round on June 1-2. The event serves as a qualifier for this year’s citywide youth curling championship.

    With 150 athletes representing 13 district teams across Beijing, the event stood out as the largest curling competition hosted at the venue’s underground ice sports arena so far this year.

    As well as offering a stage for young athletes to showcase their skills and connect with one another, the event also played a key role in promoting curling among youngsters and fostering the next generation of talent.

    Athletes compete during the 2025 Beijing Youth Curling Competition held at the National Aquatics Center, Beijing. [Photo provided to China.org.cn]

    Backed by professional facilities and quality services, the venue’s underground Ice Sports Center ensured smooth event execution. Since the Beijing 2022 Winter Games, the venue has hosted 19 curling events at different levels, leveraging its dual-Olympic legacy to foster the growth of the sport.

    Moving forward, the venue will continue to offer comprehensive, one-stop services for curling, develop well-structured and systemic training programs, and support the growth of professional curling competitions and talent development.

    MIL OSI China News –

  • MIL-OSI Video: Citizens Panel: EU citizens shaping EU’s energy efficiency policies

    Source: European Commission (video statements)

    In this video, we explore the EU Citizens Panel experience, where 150 randomly selected EU citizens are contributing to European decision-making. Our heroes share their first-hand experience of being a part of shaping the EU energy efficiency policies and the feelings of empowerment and unity this brings.

    Watch how one retired man from Ireland, or a Hungarian nurse, becomes a key player in shaping a greener and more energy-efficient Europe. Get inspired and see how you too can make a difference!

    ▬▬ Contents of this video ▬▬▬▬▬▬▬▬▬▬

    00:00 Introduction
    00:11 Being Active

    https://www.youtube.com/watch?v=JTCiLQbHq1o

    MIL OSI Video –

  • MIL-OSI Video: EU energy efficiency: Policies created by the people

    Source: European Commission (video statements)

    When the EU calls you to contribute to EU energy efficiency, do you pick up? Watch as one retired man from Ireland, or a Hungarian nurse, becomes a key player in shaping a greener and more energy-efficient Europe. Get inspired and see how you too can make a difference!

    When Csenge, Conall, and 148 other randomly selected EU citizens were called upon by the European Commission to discuss EU Energy Efficiency in Brussels, they took on the challenge. Over three weekends, they debated, shared ideas, and made 13 conclusive recommendations that the Commission will consider during policymaking.

    Want to see how their voices contributed to the debate?
    ▬▬ Contents of this video ▬▬▬▬▬▬▬▬▬▬

    00:00 Introduction
    00:30 Travelling to Brussels
    00:58 Joining the Citizens Panel
    02:14 Small Group Sessions
    04:23 Focusing on Railway Travel
    06:19 Presenting Ideas
    06:38 Conclusion

    In this video, we follow the journey of Connell, a retired man from Ireland, and Csenge, a young nurse from Hungary, who were invited to participate in a European Citizens’ Panel. Initially sceptical, Connell was surprised to find himself on a plane to Brussels the next day. Along with citizens from different European countries, he participated in small group sessions where they discussed energy efficiency. The group focused on the issue of railway travel and proposed ideas to make it more environmentally friendly. Their suggestions were well received by the European Commission, giving Connell a sense of pride and accomplishment.
    Csenge, on top of her contributions to the Energy Efficiency policy-making process, also formed friendships with people from different countries, highlighting the diversity and power of collaboration.
    This experience showed both of them the importance of citizen involvement in shaping the future of Europe and how even an individual can make a difference.

    Watch on the Audiovisual Portal of the European Commission: https://audiovisual.ec.europa.eu/en/video/I-264625

    Follow us on:
    -X: https://twitter.com/EU_Commission
    -Instagram: https://www.instagram.com/europeancommission/
    -Facebook: https://www.facebook.com/EuropeanCommission
    -LinkedIn: https://www.linkedin.com/company/european-commission/
    -Medium: https://medium.com/@EuropeanCommission

    Check our website: http://ec.europa.eu/

    https://www.youtube.com/watch?v=rE-7FFPAvb4

    MIL OSI Video –

  • MIL-OSI Banking: Senior Officials of the ASEAN Regional Forum gather in Penang

    Source: ASEAN – Association of SouthEast Asian Nations

    Attended by Senior Officials from ASEAN Member States and non-ASEAN ARF Participants, as well as the Deputy Secretary-General of ASEAN for the ASEAN Political-Security Community, the ASEAN Regional Forum Senior Officials’ Meeting (ARF SOM) convened today in Penang, Malaysia, to review the outcomes of ARF meetings and activities during the Inter-Sessional Year 2024–2025, and to deliberate on proposed initiatives and co-chairmanships for the next Inter-Sessional Year. The Meeting also exchanged views on regional and international developments.

    Photo Credit: MFA Malaysia
    The post Senior Officials of the ASEAN Regional Forum gather in Penang appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –