NewzIntel.com

Category: AM-NC

  • MIL-OSI Video: “Europe is investing EUR 1 billion in 50 projects around the world”

    Source: European Commission (video statements)

    On 9 June, 2025, at the UN Ocean Conference, Commission President Ursula von der Leyen presents the European Ocean Pact:

    “We want to build a strong global alliance for the Ocean, because the fight to promote and protect our Ocean is a global challenge. As the declaration from this Conference makes clear, there is a funding shortfall to support ocean conservation, science and sustainable fishing. So I am delighted to announce today that:

    Europe is investing EUR 1 billion in 50 projects around the world. We will invest in those who make a living from the sea, and we will invest in scientists and conservationists who seek to protect it. We will help to promote sustainable fishing in Tanzania, regenerate mangrove forests and their natural supply chains in Guyana and protect the coral and seagrass which sustain 20% of global fish stocks. Knowledge is one of the most powerful tools for ocean conservation, so one-third of the EUR 1 billion in funding announced today is targeted for research and scientific projects.”

    Read the full speech here: https://ec.europa.eu/commission/presscorner/detail/en/speech_25_1457

    Follow live events and access media content here:
    https://audiovisual.ec.europa.eu/en/

    Stay updated — follow us on X: https://x.com/EC_AVService

    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=9rtLB7FuTko

    MIL OSI Video –

  • MIL-OSI Video: UK E-petition debate relating to the non-stun slaughter of animals – Monday 9 June 2025.

    Source: United Kingdom UK Parliament (video statements)

    The Petitions Committee has scheduled a debate relating to the non-stun slaughter of animals.

    Jamie Stone MP has been asked by the Committee to open the debate. The Government will send a Minister to respond.

    Read the petition:
    https://petition.parliament.uk/petitions/700557

    Find petitions you agree with, and sign them: https://petition.parliament.uk/

    What are petition debates?

    Petition debates are ‘general’ debates which allow MPs from all parties to discuss the important issues raised by one or more petitions, and put their concerns to Government Ministers.

    Petition debates don’t end with a vote to implement the request of a petition. This means that MPs will not vote on the issues raised in the petition at the end of the debate.

    The Petitions Committee can only schedule debates on petitions to parliament started on petition.parliament.uk

    Find out more about how petition debates work: https://committees.parliament.uk/committee/326/petitions-committee/content/194347/how-petitions-debates-work/

    Stay up-to-date
    Follow the Committee on Twitter for real-time updates on its work: https://www.twitter.com/hocpetitions

    Thumbnail image ©UK Parliament / Jessica Taylor

    https://www.youtube.com/watch?v=R7Anv9XBSPE

    MIL OSI Video –

  • MIL-OSI Video: Deputy Minister Morolong delivers keynote address during the Comrades Marathon prize giving ceremony

    Source: Republic of South Africa (video statements-2)

    Deputy Minister Morolong delivers keynote address during the Comrades Marathon prize giving ceremony

    https://www.youtube.com/watch?v=lnreN_YGC5E

    MIL OSI Video –

  • MIL-OSI Video: Vuk Talks Ep 41 Mr. Ephraim Tlhako FPB Acting CEO

    Source: Republic of South Africa (video statements-2)

    Vuk Talks Season 2 Episode 41 Mr Ephraim Tlhako Film and Publication Board Acting CEO.

    https://www.youtube.com/watch?v=HfY_6MmGToI

    MIL OSI Video –

  • MIL-OSI Video: Minister Gayton Mckenzie hosts press briefing on Repatriation of Ancestral and Exile Remains

    Source: Republic of South Africa (video statements-2)

    Minister Gayton Mckenzie hosts press briefing on Repatriation of Ancestral and Exile Remains

    https://www.youtube.com/watch?v=55uSGHxpYDE

    MIL OSI Video –

  • MIL-OSI Video: NEC Director Kevin Hassett on the One, Big, Beautiful Bill

    Source: United States of America – The White House (video statements)

    https://www.youtube.com/watch?v=k8rwsALm8SM

    MIL OSI Video –

  • MIL-OSI Video: President Donald J. Trump × UFC 316

    Source: United States of America – The White House (video statements)

    President Donald J. Trump × UFC 316

    https://www.youtube.com/watch?v=zGHg_e3rAqk

    MIL OSI Video –

  • MIL-OSI USA: Amata: I will always stand with the people

    Source: United States House of Representatives – Congresswoman Aumua Amata (Western Samoa)

    Washington, D.C. – Congresswoman Uifa’atali Amata is releasing a statement regarding seabed critical minerals:

    “The people are always my top priority, and I will always stand with you. We highly value our ocean and land, from the reefs to the mountaintops, it’s ours as the people of American Samoa and it’s special to us, and a gift of God. We don’t want harm to come to our land. As I’ve publicly stated, following the announcement by the DOI, I do not support use of current technology that scrapes or vacuums or mines by digging the ocean floor, especially near our beautiful islands. The issue of critical minerals from the ocean is new and emotional for many. Because it is new, we should make a careful decision based on all the facts, then move forward together in wisdom, at the direction of the people!

    Metallic nodule pictured on table cloth, courtesy of C.M. and Tisa Fa’amuli

    “I am inquiring to DOI what is to come and when will they sit down with the leaders of American Samoa.  I am also concerned about the impacts of the mining of critical minerals to our people and on our environment.  We have to protect our islands for our future generations.  I would like DOI to clarify when their intent is, and I have a follow-up call with Interior Secretary Doug Burgum.”

    Amata: O le finagalo lava o tagata ou te tu ai

    Laumua i Uosigitone – O se saunoaga lea a le Faipule Tamaitai ia Uifaatali e uiga i minerale taua o le sami:

    “O le finagalo lava o tagata ou te faamuamua, ma ou te tu faatasi ma i latou.  E sili ona taua ia te i tatou o tatou sami ma eleele, e afua mai i le iliti tai e o’o atu i le tuasivi, o lo tatou tofi lea mai le Atua.  E leai so tatou e loto ina ia o’o mai ni Faiga e leaga ai o tatou fanua.  Faapei ona ou faalauiloa faalauaitele atu, ina ua mae’a le faasalalauga mai le Matagaluega o le Initeria, ou te le lagolagoina le faaaoga o tekenolosi faa-ona po nei e valusia pe ave ese pe eli ai le iliti tai o loo tau lata i o tatou motu e sili ona matagofie.  E fou i le toatele o nai o tatou tagata ma ua aafia ai o latou finagalo i lenei mataupu e uiga i minerale aoga mai le sami.  E ao lava ona o tatou faia ni faaiuga faautauta e faavae i luga o mau ua maua mai ae faia lava e tusa ma finagalo o tagata o Amerika Samoa!

    Ua ou fesiligia le Matagaluega o le Initeria e uiga i laasaga o le a uia ma le itu aso latou te feiloa’i ai ma ta’ita’i o Amerika Samoa.  E atugalu foi so’u taofi i aafiaga o nai o tatou tagata ma lo ta siosiomaga i le eliga o nei minerale aoga.  E ao lava ona tatou puipui o tatou motu auā o tatou tupulaga atalī.  Ou te loto ina ia faamanino mai lo latou faamoemoe, ma o loo loma la ma feutagaina ma le Failautusi o le Initeria, le susuga a Doug Burgum.”  

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Amata Holds Issues Roundtable Meeting with S.O.F.I.A.S. Leadership

    Source: United States House of Representatives – Congresswoman Aumua Amata (Western Samoa)

    Washington, D.C. – Congresswoman Uifa’atali Amata held a roundtable meeting with leadership members of the Society of Fa’afafine in American Samoa (S.O.F.I.A.S.) to answer questions and discuss the issues that were brought up. 

    Group photo at SOFIAS roundtable

    The meeting included Ertta Laumoli, President, SOFIAS; Isabella Ah Mu Mageo, Miss SOFIAS 2025; Naea Tasha Rikki LeAtio’o, SOFIAS Senior Advisor; Shiki Leaupepe, SOFIAS Advisor; Shanee Masoli, SOFIAS Advisor; Athena Mauga, SOFIAS Advisor; Keniseli Fanolua, SOFIAS Secretary; Jaiyeh Saelua, American Samoa Faafafine Rural Program; and Zee Romero, SOFIAS Advisor. 

    The most discussed issues were the status of the recent Executive Order on the Seabed Mining; education issues, such as the status of the U.S. Department of Education and federal funding for schools; and the Executive Order on Fisheries on April 17th, which is separate from the critical minerals order. 

    Roundtable discussions

    Other topics and related discussions included Cook Islands Seabed Mining agreement with China; China’s presence throughout the Indo-Pacific; old and new technology for Critical Minerals Mining; Coral Reef issues; Passport issues; and topics specific to the Fa’afafine community. 

    “I enjoyed our conversation, and we covered many of the important and current issues,” said Congresswoman Amata. “I want to thank everyone in attendance. We had thoughtful questions and comments from everyone taking part. I hold opportunities to talk with our people as often as I can when I’m in American Samoa, so I can best represent our people in Washington, and I’ve had several Town Hall meetings during this graduation season while I’m able to be home in American Samoa.”

    These meetings are listening sessions, with updates about events, legislation or discussions in Washington. Throughout the year if you have questions or a need for constituent services, please reach out to Congresswoman Amata’s office in Fagatogo.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Amata Honors Henry Saaga and Thousands of Heroes for D-Day and Battle of Midway Anniversaries

    Source: United States House of Representatives – Congresswoman Aumua Amata (Western Samoa)

    Washington, D.C. – Congresswoman Uifa’atali Amata is honoring the memory of Henry Saaga, who fought in the Normandy invasion, as the United States and World War II allies commemorate the anniversaries of two of the great turning points of the global war – D-Day in Europe in 1944, and the Battle of Midway in the Pacific in 1942. 

    Holding Henry Saaga family photo

    June 6th is anniversary of D-Day, in which Allied forces stormed the beaches of Normandy, successfully but at great cost in lives. Also, this week, June 4-7 marks the anniversary of the Battle of Midway, a major air and sea battle that turned the tide of the war in the Pacific earlier in World War II. 

    Briefing at Aisne Marne American Cemetery in 2023

    “On these historic dates, we honor the valor of many thousands who changed the world and advanced the cause of freedom for generations, which our living Veterans and Service Members have since helped protect,” said Congresswoman Aumua Amata. “These anniversaries are sobering reminders of the sacrifices of war, but celebrations of these heroes and their enduring legacy of bravery and honor.”

    A Normandy Wreath-laying in 2023

    “Henry Saaga was a young Samoan soldier who was born and raised in Utulei Village, American Samoa. He fought in the invasion of Normandy, and was last seen fighting bravely in the hedgerow combat,” Amata continued. “He is honored on a commemorative wall in France, where names are highlighted with wet sand from the nearby beach – the only acceptable reason to take sand from the protected beach.”

    Henry Saaga’s name enshrined in France

    Known as D-Day, the invasion in Normandy demanded enormous logistical effort. Once the Allies established landings in France, the U.S. and Allied forces began pushing back the Nazi forces and liberating western Europe. General Dwight D. Eisenhower sent the troops across the English Channel with the message, “The eyes of the world are upon you. The hoped and prayers of liberty-loving people everywhere march with you.”

    Likewise, in the Pacific, the Battle of Midway was a difference-making three days of intense sea and air battle that historians agree changed the direction of the naval war for the years of fighting ahead.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Amata: Fishery Decision Is Separate from Seabed Issue

    Source: United States House of Representatives – Congresswoman Aumua Amata (Western Samoa)

    Washington, D.C. – Congresswoman Uifa’atali Amata is correcting a misunderstanding that reopening some waters to fishing somehow may have caused the seabed mining issue. In fact, the two executive orders by the President are separate, and he already had the authority to issue a seabed order before the fishery decision. 

    “To be clear, the fisheries decision did not open Pacific waters to seabed mining. I understand the confusion because of the timing of the two separate decisions,” said Congresswoman Amata. “While both decisions have U.S. and Pacific long term security implications in preventing China’s dominance, one decision did not cause the other, nor did it have any bearing on the legality or authority of the critical minerals order.”

    “The fisheries order is a success I’ve been working for throughout my entire time in Congress, to help secure our fishing and local economy.”

    “On the other hand, the critical minerals order is not something I called for at any time, nor did I endorse or advocate for it. Instead, I have many questions, and our people have many concerns and even fears. As your representative, I am calling for the DOI to sit down with ASG and answer all the many questions, as well as the public comment period that the law will require. I stand with our people, and I am actively listening in multiple town hall and round table discussions. I will continue hearing from you, reporting back to you, and representing your concerns to the administration.”

    ###

    MIL OSI USA News –

  • MIL-OSI Economics: Sleep with one eye open: how Librarian Ghouls steal data by night

    Source: Securelist – Kaspersky

    Headline: Sleep with one eye open: how Librarian Ghouls steal data by night

    Introduction

    Librarian Ghouls, also known as “Rare Werewolf” and “Rezet”, is an APT group that targets entities in Russia and the CIS. Other security vendors are also monitoring this APT and releasing analyses of its campaigns. The group has remained active through May 2025, consistently targeting Russian companies.

    A distinctive feature of this threat is that the attackers favor using legitimate third-party software over developing their own malicious binaries. The malicious functionality of the campaign described in this article is implemented through command files and PowerShell scripts. The attackers establish remote access to the victim’s device, steal credentials, and deploy an XMRig crypto miner in the system.

    Our research has uncovered new tools within this APT group’s arsenal, which we will elaborate on in this article.

    Technical details

    Initial infection vector

    Attacks by Librarian Ghouls continued almost unabated throughout 2024. We observed a slight decline in the group’s activity in December, followed immediately by a new wave of attacks, which is ongoing. The group’s primary initial infection vector involves targeted phishing emails that contain password-protected archives with executable files inside. These malicious emails are typically disguised as messages from legitimate organizations, containing attachments that appear to be official documents. The infection process is as follows: the victim opens the attached archive (the password is usually provided in the email body), extracts the files inside, and opens them.

    We managed to get hold of a malicious implant from an archive disguised as a payment order. The sample is a self-extracting installer made with the Smart Install Maker utility for Windows.

    The installer contains three files: an archive, a configuration file, and an empty file irrelevant for our analysis. They are later renamed into data.cab, installer.config and runtime.cab respectively.

    The primary malicious logic resides in the installer’s configuration file. It uses a variety of registry modification commands to automatically deploy the legitimate window manager, 4t Tray Minimizer, onto the system. This software can minimize running applications to the system tray, allowing attackers to obscure their presence on the compromised system.

    Once 4t Tray Minimizer is installed, the installer pulls three files from data.cab and puts them into the C:Intel directory, specifically at:

    File Name when archived Path on the infected system
    Legitimate PDF as a decoy 0  IntelPayment Order # 131.pdf
    Legitimate curl utility executable 1 Intelcurl.exe
    LNK file 2 IntelAnyDeskbat.lnk

    The PDF decoy resembles an order to pay a minor amount:

    PDF document imitating a payment order

    rezet.cmd

    Once data.cab is unpacked, the installer generates and executes a rezet.cmd command file, which then reaches out to the C2 server downdown[.]ru, hosting six files with the JPG extension. rezet.cmd downloads these to C:Intel, changing their file extensions to: driver.exe, blat.exe, svchost.exe, Trays.rar, wol.ps1, and dc.exe.

    • driver.exe is a customized build of rar.exe, the console version of WinRAR 3.80. This version has had user dialog strings removed: it can execute commands but provides no meaningful output to the console.
    • blat.exe is Blat, a legitimate utility for sending email messages and files via SMTP. Attackers use this to send data they steal to an email server they control.
    • svchost.exe is the remote access application AnyDesk. Attackers use this to remotely control the compromised machine.
    • dc.exe is Defender Control, which allows disabling Windows Defender.

    After downloading the files, the script uses the specified password and the driver.exe console utility to extract Trays.rar into the same C:Intel directory and run the unpacked Trays.lnk. This shortcut allows starting 4t Tray Minimizer minimized to the tray.

    Next, the script installs AnyDesk on the compromised device and downloads a bat.bat file from the C2 server to C:IntelAnyDesk. Finally, rezet.cmd runs bat.lnk, which was previously extracted from data.cab.

    bat.bat

    Opening the bat.lnk shortcut runs the bat.bat batch file, which executes a series of malicious actions.

    Disabling security measures and a scheduled task

    First, the BAT file sets the password QWERTY1234566 for AnyDesk, which allows the attackers to connect to the victim’s device without asking for confirmation.

    Next, the script uses the previously downloaded Defender Control (dc.exe) application to disable Windows Defender.

    To verify that the victim’s computer is on and available for remote connections, the batch file runs the powercfg utility six times with different parameters. This utility controls the local machine’s power settings.

    Next, bat.bat runs the schtasks utility to create a ShutdownAt5AM scheduler task, which shuts down the victim’s PC every day at 5 AM as the name suggests. It is our assessment that the attackers use this technique to cover their tracks so that the user remains unaware that their device has been hijacked.

    Disabling security measures and the power management configuration in bat.bat

    Wakeup script and data theft

    Next, the batch file executes the wol.ps1 script via PowerShell.

    Contents of the “wol.ps1” script

    This script launches Microsoft Edge every day at 1 AM. We found no evidence of msedge.exe being replaced or compromised, leading us to believe it is a genuine Microsoft Edge executable. This daily browser activation wakes the victim’s computer, giving attackers a four-hour window to establish unauthorized remote access with AnyDesk before the scheduled task shuts the machine down at 5 AM.

    Following the execution of the PowerShell script, bat.bat removes the curl utility, the Trays.rar archive, and the AnyDesk installer. The attackers no longer need these components: at this stage of the infection, all necessary malicious files and third-party utilities have been downloaded with curl, Trays.rar has been unpacked, and AnyDesk has been installed on the device.

    After that, the batch file sets environment variables for Blat. These variables contain, among other things, the email addresses where the victim’s data will be sent and the passwords for these accounts.

    The next step is to collect information stored on the device that is of interest to the attackers:

    • Cryptocurrency wallet credentials and seed phrases
    • Dumps of the HKLMSAM and HKLMSYSTEM registry keys made with reg.exe

    Data collection by bat.bat

    The BAT file uses driver.exe to pack data it has collected into two separate password-protected archives. Then, the script runs blat.exe to send the victim’s data and AnyDesk configuration files to the attackers via SMTP.

    Miner installation and self-deletion

    Next, bat.bat deletes the files generated during the attack from the C:Intel folder and installs a crypto miner on the compromised system. To do this, the script creates a bm.json configuration file containing the mining pool address and the attackers’ identifier, and then downloads install.exe from hxxp://bmapps[.]org/bmcontrol/win64/Install.exe.

    install.exe is an installer that checks for the JSON configuration file and the bmcontrol.exe process in the system. If the process is detected, the installer terminates it.

    Then, install.exe downloads an archive with mining tools from hxxps://bmapps[.]org/bmcontrol/win64/app-1.4.zip.

    The archive contains the following files:

    • _install.exe: a new version of the installer. While the samples in the attacks we analyzed were identical, we suspect the attackers have a scenario for updating the malware.
    • bmcontrol.exe: miner controller
    • run.exe, stop.cmd, uninstall.cmd: tools for starting, stopping, and removing the controller
    • XMRig miner

    Depending on the parameters of the JSON file, the unmodified original installer file is used, or _install.exe is renamed to install.exe and run. After that, the installer adds run.exe to autorun. This utility checks for an already running bmcontrol.exe controller on the compromised system, and if it doesn’t find one, runs it from the downloaded archive.

    Once running, bmcontrol.exe creates two processes: master and worker. The master process launches and constantly monitors the worker, and also restarts it if the latter quits unexpectedly. In addition, the master passes the JSON configuration file to the worker process.

    Before launching the XMRig miner, the worker process collects the following system information:

    1. Available CPU cores
    2. Available RAM
    3. GPU

    This data is used to configure the miner on the compromised device and also sent to the attackers’ server. While XMRig is running, the worker maintains a connection to the mining pool, sending a request every 60 seconds.

    After installing the miner on the system, bat.bat removes itself from the victim’s device.

    Legitimate software utilized by the attackers

    It is a common technique to leverage third-party legitimate software for malicious purposes (T1588.002), which makes detecting and attributing APT activity more difficult. We have seen this pattern in current campaigns by various APT groups, in particular in the Likho cluster.

    Beyond the utilities discussed above, we also identified the following software in Librarian Ghouls attacks:

    • Mipko Personal Monitor: a DLP system that the attackers use to monitor the victim. The application can collect screenshots and record keystrokes among other things.
    • WebBrowserPassView: a password recovery utility that can extract passwords stored in web browsers. The attackers use this to steal victims’ credentials.
    • ngrok: a global reverse proxy that secures and accelerates network services. Used by the attackers to connect to target machines.
    • NirCmd: a legitimate utility that facilitates various OS tasks without a visible user interface. The attackers use this to covertly run scripts and executables.

    Phishing campaign

    Our investigation revealed several domains that we assess with low confidence to be associated with the ongoing Librarian Ghouls campaign. At the time of the investigation, some of them remained active, including users-mail[.]ru and deauthorization[.]online. These domains hosted phishing pages, generated with PHP scripts and designed to harvest credentials for the mail.ru email service.

    Example of a phishing page associated with the APT campaign

    Infrastructure

    The implant detailed in this article communicated with the command-and-control servers downdown[.]ru and dragonfires[.]ru. Both resolve to the IP address 185.125.51[.]5.

    Our analysis of the attackers’ infrastructure revealed a notable characteristic: several malicious web servers associated with this campaign had directory listing enabled, allowing us to inspect files they stored.

    Directory listing on a malicious server

    Victims

    Our telemetry indicated that, during the investigation period, hundreds of Russian users fell victim to this campaign. It primarily focuses on industrial enterprises, with engineering schools also being a target of interest. Furthermore, the attacks described also impacted users in Belarus and Kazakhstan.

    The phishing emails are notably composed in Russian and include archives with Russian filenames, along with Russian-language decoy documents. This suggests that the primary targets of this campaign are likely based in Russia or speak Russian.

    About the attackers

    Librarian Ghouls APT exhibits traits commonly associated with hacktivist groups, such as the use of self-extracting archives and a reliance on legitimate, third-party utilities rather than custom-built malware binary modules.

    Since the beginning of the current campaign in December 2024, we have seen frequent updates to the implants, which vary in configuration files and the bundled sets of legitimate utilities. At the time of publishing this, our data encompassed over 100 malicious files connected to this campaign.

    Takeaways

    At the time of this report’s release, the Librarian Ghouls APT campaign described in it is still active, as evidenced by attacks we observed in May 2025. Consistent with previous activity, the attackers leverage third-party legitimate utilities rather than developing custom tools. All of the malicious functionality still relies on installer, command, and PowerShell scripts. We observe that the attackers are continuously refining their tactics, encompassing not only data exfiltration but also the deployment of remote access tools and the use of phishing sites for email account compromise. We constantly monitor this threat actor and will continue to share up-to-date information about its activity.

    Indicators of compromise

    * Additional indicators of compromise and a YARA rule for detecting Librarian Ghouls activity are available to customers of our APT Intelligence Reporting service. Contact intelreports@kaspersky.com for more details.

    Implants

    d8edd46220059541ff397f74bfd271336dda702c6b1869e8a081c71f595a9e68
    2f3d67740bb7587ff70cc7319e9fe5c517c0e55345bf53e01b3019e415ff098b
    de998bd26ea326e610cc70654499cebfd594cc973438ac421e4c7e1f3b887617
    785a5b92bb8c9dbf52cfda1b28f0ac7db8ead4ec3a37cfd6470605d945ade40e
    c79413ef4088b3a39fe8c7d68d2639cc69f88b10429e59dd0b4177f6b2a92351
    53fd5984c4f6551b2c1059835ea9ca6d0342d886ba7034835db2a1dd3f8f5b04

    Implant configuration files

    f8c80bbecbfb38f252943ee6beec98edc93cd734ec70ccd2565ab1c4db5f072f
    4d590a9640093bbda21597233b400b037278366660ba2c3128795bc85d35be72
    1b409644e86559e56add5a65552785750cd36d60745afde448cce7f6f3f09a06
    7c4a99382dbbd7b5aaa62af0ccff68aecdde2319560bbfdaf76132b0506ab68a
    702bf51811281aad78e6ca767586eba4b4c3a43743f8b8e56bb93bc349cb6090
    311ec9208f5fe3f22733fca1e6388ea9c0327be0836c955d2cf6a22317d4bdca

    Malicious archive attachments

    fd58900ea22b38bad2ef3d1b8b74f5c7023b8ca8a5b69f88cfbfe28b2c585baf
    e6ea6ce923f2eee0cd56a0874e4a0ca467711b889553259a995df686bd35de86
    6954eaed33a9d0cf7e298778ec82d31bfbdf40c813c6ac837352ce676793db74

    Malicious BAT files

    e880a1bb0e7d422b78a54b35b3f53e348ab27425f1c561db120c0411da5c1ce9
    c353a708edfd0f77a486af66e407f7b78583394d7b5f994cd8d2e6e263d25968
    636d4f1e3dcf0332a815ce3f526a02df3c4ef2890a74521d05d6050917596748
    c5eeec72b5e6d0e84ff91dfdcbefbbbf441878780f887febb0caf3cbe882ec72
    8bdb8df5677a11348f5787ece3c7c94824b83ab3f31f40e361e600576909b073
    2af2841bf925ed1875faadcbb0ef316c641e1dcdb61d1fbf80c3443c2fc9454f

    Decoy documents

    cab1c4c675f1d996b659bab1ddb38af365190e450dec3d195461e4e4ccf1c286
    dfac7cd8d041a53405cc37a44f100f6f862ed2d930e251f4bf22f10235db4bb3
    977054802de7b583a38e0524feefa7356c47c53dd49de8c3d533e7689095f9ac
    65f7c3e16598a8cb279b86eaeda32cb7a685801ed07d36c66ff83742d41cd415
    a6ff418f0db461536cff41e9c7e5dba3ee3b405541519820db8a52b6d818a01e
    6c86608893463968bfda0969aa1e6401411c0882662f3e70c1ac195ee7bd1510

    Malicious PS1 scripts

    8b6afbf73a9b98eec01d8510815a044cd036743b64fef955385cbca80ae94f15
    7d6b598eaf19ea8a571b4bd79fd6ff7928388b565d7814b809d2f7fdedc23a0a
    01793e6f0d5241b33f07a3f9ad34e40e056a514c5d23e14dc491cee60076dc5a

    Miner installer (install.exe)
    649ee35ad29945e8dd6511192483dddfdfe516a1312de5e0bd17fdd0a258c27f

    Miner controller (bmcontrol.exe)
    9cce3eaae0be9b196017cb6daf49dd56146016f936b66527320f754f179c615f

    Miner launcher (run.exe)
    d7bcab5acc8428026e1afd694fb179c5cbb74c5be651cd74e996c2914fb2b839

    Legitimate software

    AnyDesk
    Blat
    curl
    Defender Control
    Customized RAR 3.80
    AnyDesk
    Mipko Personal Monitor
    ngrok
    NirCmd
    4t Tray Minimizer
    WebBrowserPassView

    Librarian Ghouls malicious domains

    vniir[.]space
    vniir[.]nl
    hostingforme[.]nl
    mail-cheker[.]nl
    unifikator[.]ru
    outinfo[.]ru
    anyhostings[.]ru
    center-mail[.]ru
    redaction-voenmeh[.]info
    acountservices[.]nl
    accouts-verification[.]ru
    office-email[.]ru
    email-office[.]ru
    email-informer[.]ru
    office-account[.]ru
    deauthorization[.]online
    anyinfos[.]ru
    verifikations[.]ru
    claud-mail[.]ru
    users-mail[.]ru
    detectis[.]ru
    supersuit[.]site
    downdown[.]ru
    dragonfires[.]ru
    bmapps[.]org

    MIL OSI Economics –

  • MIL-OSI Economics: Samsung Solve for Tomorrow Sparks a Wave of Young Innovators in Tripura

    Source: Samsung

     
    As the monsoon clouds gather over the lush hills of Tripura, a different kind of storm of ideas, innovation, and ambition is taking over college campuses. Samsung’s flagship innovation competition, Solve for Tomorrow, has made its mark in the farthest corners of India in Season 4, igniting the spirit of problem-solving and nation-building among young minds.
     
    After a powerful launch on April 29, the design thinking workshops and college Open Houses swept across India—reaching not just major metros but also the vibrant heartlands of the Northeast.
     
    Samsung Solve for Tomorrow 2025 will provide INR 1 crore to the top four winning teams to support the incubation of their projects, along with hands-on prototyping, investor connects, and expert mentorship from Samsung leaders and IIT Delhi faculty.
     
    In Agartala, Tripura, two colleges—Bir Bikram Memorial College and Netaji Subhash Mahavidyalaya—witnessed a groundswell of students coming together to imagine solutions to India’s most pressing problems.
     
    At Bir Bikram, second-year student Tarit Chakma walked out of the Open House with a quiet determination in his eyes. “I want to solve the water logging issues in tribal areas using smart but low-cost drainage tech.”
     
    Tarit isn’t alone in his vision. Sitting next to him was Sangeeta Dey, a science undergraduate, who spoke of the growing mental health crisis among youth in smaller towns. “I want to build an anonymous digital mental health assistant in local languages, starting with Kokborok,” she said, her notebook already filled with flowcharts and feature ideas.
     
    Meanwhile, across town at Netaji Subhash College, hundreds of students filled the campus hall, their excitement palpable. For many, this was their first exposure to structured innovation and design thinking frameworks.
    Sourav Shukladas, a tech enthusiast from Netaji Subhash College, said, “I’ve been tinkering with the idea of a wearable that can alert family members and local clinics in case of sudden health issues of elderly family members. This platform gave me the confidence that such ideas can be built right here, from Tripura, for the world.”
     
    His classmate, Sangeeta Saha, said, “We’ve always believed we had to leave Tripura to do something meaningful. Today made me think differently. What if we could turn our state into a hub of social innovation instead? I want to work on eco-tourism models that empower local artisans and protect our forests.”
     
    Each voice in these packed halls echoed the larger mission of Samsung Solve for Tomorrow—to democratize innovation, to reach every young mind with potential, and to build a new generation of problem-solvers across India’s many geographies.
     
    What began as roadshows in the North and South has now evolved into a movement that is energizing classrooms in remote towns. And as Season 4 unfolds, it’s clear that Solve for Tomorrow is not just a competition—it’s a call to action for a generation ready to reimagine India, one idea at a time.
     
    From the narrow bylanes of Agartala to the sprawling innovation hubs of Delhi and Bangalore, this is a journey of dreams taking flight. And if the students of Tripura are any indication, the future is in passionate, capable hands.

    MIL OSI Economics –

  • MIL-OSI Economics: New handhelds combine the power of Xbox with the freedom of Windows 11

    Source: Microsoft

    Headline: New handhelds combine the power of Xbox with the freedom of Windows 11

    Together, we’ve combined our strengths and technical expertise to introduce something entirely new: the ROG Xbox Ally and ROG Xbox Ally X. These handhelds are built to make it easier than ever to access your favorite games—from Xbox, Battle.net, and other leading PC storefronts—all from a single device.

    This holiday, with ASUS, players can discover another way to play as we combine the power of Xbox with the freedom you expect from Windows. And this is only the beginning.

    Meet the ROG Xbox Ally and ROG Xbox Ally X

    • ROG Xbox Ally: The essential handheld at a great value for everyone from the casual player to the avid enthusiast.
    • ROG Xbox Ally X: The ultimate high-performance handheld, built for the most demanding players.

    Both handhelds allow players to play natively, via the cloud, or remotely with their Xbox console in another room.

    Next-Level Features Designed for Play Anywhere

    With the Xbox Ally and Xbox Ally X, players can look forward to an approachable gaming experience that travels with you wherever you go, featuring several new and first-of-their kind features on both devices—from an immersive Xbox full screen experience, an aggregated gaming library with access to installed games from leading PC storefronts, and more.

    We’ve optimized Windows 11 to be easy to use on the Xbox Ally and Xbox Ally X from the moment you power on. Game Bar makes it easy to return home, browse your library, launch or quit games, chat with friends, open apps, adjust settings, and more. Now, with the integration of ASUS’s innovative Armoury Crate, Game Bar also gives you streamlined access to advanced device and input controls. Details like the lock screen and task switcher have also been adjusted for easy navigation with a controller.

    Because these handhelds run Windows, you have access to games you can’t get elsewhere, so you can enjoy the full freedom and versatility of PC gaming—download games from your favorite storefront, run apps like Discord, watch your favorite streamers on Twitch, and play with your favorite mods—all straight from the Xbox experience. The choice is yours.

    Introducing the Xbox Experience for Handheld

    When you power on your Xbox Ally, you’ll boot directly into the Xbox full screen experience, a new feature optimized specifically for handheld gaming. With new modifications that minimize background activity and defer non-essential tasks, more system resources are dedicated specifically to gameplay. That means more memory, higher framerates, and a fully immersive experience for players—all made possible by the versatility and freedom of Windows.

    The Xbox Ally has more familiar Xbox touches, including:

    • Xbox button: With a dedicated Xbox button, players have access to chat, apps, and settings through an enhanced Game Bar overlay, allowing you to quickly switch between running apps and games.
    • Contoured grips: Created with player comfort in mind, and using the same design principles as Xbox Wireless Controllers, the Xbox Ally and Xbox Ally X feature contoured handgrips to accommodate a wider range of hand sizes.
    • Accessibility features: Game Bar and the Xbox app have also been optimized for handheld use, bringing along familiar accessibility features from Xbox consoles and Windows PCs, with much more to come in future.

    Easy Access to Games from Xbox, Leading PC Storefronts, and More

    Locating and accessing games across multiple channels can be a challenge —navigating through various browsers, storefronts, and login credentials can sometimes make gaming feel anything but fun. But with the Xbox Ally and Xbox Ally X, getting into the fun is easier and faster than ever.

    Within the Xbox full screen experience, players will see their aggregated gaming library, giving them quick access to games from Xbox, Game Pass, Battle.net, and other leading PC storefronts. With this new feature, your Xbox library, hundreds of Game Pass titles (membership required), and all your installed games from other PC game stores are always at your fingertips.

    We’re also making handheld gaming more seamless through our investment in Xbox Play Anywhere. With support for over 1,000 games, a single purchase means you can play with Xbox, including your progress and achievements, across Xbox console, PC and Xbox Ally—at no additional cost. And when you power on your Xbox Ally or Xbox Ally X, your favorite games are already there, ready to play. Whether you’ve been gaming on Xbox console, Xbox on PC, or in the cloud, everything syncs effortlessly. With Xbox Cloud Gaming (Beta) or Remote Play, you can access your full Xbox console library and keep playing—wherever you are.

    And yes…there’s still even more to come:

    • We’re excited to partner with Roblox for the launch of Xbox Ally. For the first time ever, Roblox will be playable natively and optimized for gaming handhelds, enabling players to play with millions of people and discover a variety of immersive games on day one.
    • We are working closely with our game developer partners on a brand-new program designed to help players easily identify which games have been optimized for handhelds, including the Xbox Ally and Xbox Ally X. We will share more details soon. 
    • Players who purchase an Xbox Ally or Xbox Ally X and are new to Game Pass will also be able to get started at no additional cost, accessing hundreds of games like Balatro, Gears Tactics, Vampire Survivors and more, straight from your device.
    • Players on either device will be able to tap into Gaming Copilot via Game Bar, a personalized gaming companion that helps you get to your favorite games faster, improve your skills, and connect you with your friends and communities.

    Two Great Choices & A First Look at Specs

    The Xbox Ally and Xbox Ally X are perfect for players looking to take an approachable gaming experience with you during travels— whether it’s between airports, or between the comfiest chairs in the living room.

    Both handhelds run on AMD processors that deliver premium gaming performance, immersive visuals, and more.

    The Xbox Ally offers great value for anyone looking to take their favorite games wherever they want to play, whether it’s Clair Obscur: Expedition 33, Gears of War: Reloaded, Lies of P, South of Midnight, or many more. It’s powered by the AMD Ryzen Z2 A Processor—balancing performance and power consumption to maximize battery life without sacrificing gameplay quality—16GB of RAM and 512GB of SSD storage.

    The Xbox Ally X offers more for players looking to get the best level of performance and visual settings from their favorite games on a handheld. It features the AMD Ryzen AI Z2 Extreme processor—allowing us to power the latest AI features as they are introduced— double the storage to have more native games at your fingertips, and 24GB of high-speed RAM that more demanding games crave. The Xbox Ally X also features impulse triggers for more immersive play.

    Here’s how the specs compare between the Xbox Ally and Xbox Ally X:

        ROG Xbox Ally   ROG Xbox Ally X  
    Operating System   Windows 11 Home   Windows 11 Home  
     Comfort & input    Contoured grips inspired by Xbox Wireless Controllers deliver all-day comfort. ABXY buttons / D-pad / L & R Hall Effect analog triggers / L & R bumpers / Xbox button / View button / Menu button / Command Center button / Library button / 2x assignable back buttons / 2x full-size analog sticks / HD haptics / 6-Axis IMU   Contoured grips inspired by Xbox Wireless Controllers deliver all-day comfort, complete with impulse triggers for enhanced control.  ABXY buttons / D-pad / L & R impulse triggers / L & R bumpers / Xbox button / View button / Menu button / Command Center button / Library button / 2x assignable back buttons / 2x full-size analog sticks / HD haptics / 6-Axis IMU  
    Processor   AMD Ryzen Z2 A Processor   AMD Ryzen AI Z2 Extreme Processor  
    Memory   16GB LPDDR5X-6400   24GB LPDDR5X-8000  
    Storage   512GB M.2 2280 SSD for easier upgrade   1TB M.2 2280 SSD for easier upgrade  
    Display   7” FHD (1080p) IPS, 500 nits, 16:9  
    120Hz refresh rate  
    FreeSync Premium  
    Corning Gorilla Glass Victus + DXC Anti-Reflection     		 7” FHD (1080p) IPS, 500 nits, 16:9  
    120Hz refresh rate  
    FreeSync Premium  
    Corning Gorilla Glass Victus + DXC Anti-Reflection 
    I/O Ports   2x USB 3.2 Gen 2 Type-C with DisplayPort 1.4 / Power Delivery 3.0   1x USB4 Type-C with DisplayPort 2.1 / Power Delivery 3.0, Thunderbolt 4 compatible  
    1x UHS-II microSD card reader (supports SD, SDXC and SDHC)   1x USB 3.2 Gen 2 Type-C with DisplayPort 2.1 / Power Delivery 3.0  
    1x 3.5mm Combo Audio Jack   1x UHS-II microSD card reader (supports SD, SDXC and SDHC; UHS-I with DDR200 mode)  
        1x 3.5mm Combo Audio Jack  
    Network and Communication   Wi-Fi 6E (2 x 2) + Bluetooth 5.4   Wi-Fi 6E (2 x 2) + Bluetooth 5.4  
    Dimensions   290.8*121.5*50.7mm   290.8*121.5*50.7mm  
    670g   715g  
    Battery   60Wh   80Wh  
    Included   ROG Xbox Ally  65W charger  Stand   ROG Xbox Ally X  65W charger  Stand  

    Pre-orders, Pricing, Accessories and More – Coming Soon

    At launch this holiday, the Xbox Ally and Xbox Ally X will be available in Australia, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Korea, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Saudi Arabia, Singapore, Spain, Sweden, Switzerland, Thailand, Turkey, the United Arab Emirates, the United Kingdom, and the United States, with availability to follow for other markets where ROG Ally series products are sold today.

    But that’s not the only thing to look forward to. In the coming months, we’ll share even more details about the Xbox Ally and Xbox Ally X, including pricing, compatible accessories, and pre-orders. Interested in pre-ordering? Please sign up here to be notified when pre-orders go live.

    We can’t wait to share more about the Xbox Ally and Xbox Ally X. Thank you for joining us on this journey as we continue to fulfil our vision of delivering a consistent, approachable gaming experience anywhere—and meeting more players where you want to be.

    MIL OSI Economics –

  • MIL-OSI Economics: Samsung Electronics Maintains No. 1 Position in European Microwave Market for 10 Consecutive Years

    Source: Samsung

     
    Samsung Electronics today announced that it achieved the highest market share in the European microwave segment in 2024, maintaining its No. 1 position for the tenth consecutive year.1
     
    According to data analytics company Euromonitor International, Samsung was ranked as Europe’s No. 1 selling microwave brand based on microwave sales volume in 2024. With this result, Samsung has held the top spot every year since 2015.
     
    “Samsung’s success in the European microwave market comes from our ability to align with what consumers value — a balance of design and intuitive usability,” said Taehwan Hwang, EVP and Head of the Sales & Marketing Team for the Digital Appliances Business at Samsung Electronics. “We will continue to lead the market by leveraging our strengths in smart connectivity and premium design.”
     

    Making Design and Innovation Central to the Kitchen
    Samsung has targeted the European market with products offering premium design, reflecting the interest of local consumers in kitchen interiors. Since 2019, the company has offered its Bespoke Microwave lineup, which features seven colors2 options and a glass finish, a combination that quickly gained popularity across the region.
     
    To further enhance everyday convenience, Samsung introduced the MW7300B All-in-one Microwave Oven in 2024. Thanks to its SmartThings3 compatibility, users can monitor and control the microwave remotely4 with their smartphones, even when they are not in the kitchen. It can also be operated using voice assistants5 such as Bixby,6 for a seamless, connected cooking experience.

     
    To find out more about Samsung’s microwave products, visit Samsung.com.
     
     
    1 Source Euromonitor International Limited; Consumer Appliances 2025ed, “microwaves” as per Passport definitions; Retail Volume Sales in Units, 2024 data
    2 The available colors may differ by country. Once the color of the panels has been selected it cannot be changed again.
    3 Available on Android and iOS devices. A Wi-Fi connection and a Samsung account are required. The SmartThings Energy and SmartThings Home Care services are only available in certain countries.
    4 Only available when the Smart Control button on the microwave oven is turned on with hands.
    5 A Wi-Fi connection is required
    6 Bixby is Samsung’s Internet of Things (IoT) voice assistant. Bixby service availability may vary depending on the country. Bixby recognizes certain accents/dialects of English (US, UK, Indian), Chinese, Korean, French, German, Italian, Spanish and Portuguese. A Samsung account log-in and Wi-Fi connection are required.

    MIL OSI Economics –

  • MIL-OSI Economics: The future of data: Microsoft Fabric Community Conference coming to Atlanta March 16-20

    Source: Microsoft

    Headline: The future of data: Microsoft Fabric Community Conference coming to Atlanta March 16-20

    The Microsoft Fabric Community Conference is back for its third year—and we’re bringing everything and everybody you’ve loved at past events with us to Atlanta, Georgia. After unforgettable experiences at FabCon in Las Vegas and Stockholm, the Fabric community proved just how powerful it can be when we come together. With more than 13,000 attendees across our last three conferences, it’s clear: the Microsoft Fabric community is here to drive the future of data!   

    And yes, we’re pleased to announce; it’s happening again! Mark your calendars for #FabCon Atlanta from March 16-20, 2026, at the Georgia World Congress Center in Atlanta. Join us for the ultimate Microsoft Fabric, Power BI, SQL, Real-Time Intelligence, AI, and Databases community-led event. The third annual FabCon Americas will feature two full days of workshops ahead of sessions from your favorite Microsoft and community speakers, keynotes in the State Farm Arena, more opportunities to Ask the Experts for 1:1 support, an engaging community lounge with opportunities to network and connect with your peers, a dedicated partner pre-day, a packed expo hall, Power Hour, the second annual Data Viz World Championship, and a can’t-miss attendee party at the Georgia Aquarium.   

    FabCon features expert-led content by Microsoft MVPs, the Microsoft product team, partners, and the community itself. Whether you’re here to dive into the latest in Fabric, sharpen your skills, or build connections with data pros from around the world, FabCon 2026 has something for everyone.  

    • Don’t miss out—Register here and use code MSCATL for a $200 discount on top of current Super Early Bird pricing!   

    We can’t wait to take Atlanta by storm to celebrate all things Microsoft Fabric—where learning, innovation, and community collide!  

    What are some of the best things about FabCon coming to Atlanta? 

    • The GWCC will easily hold the 7,500 anticipated attendees. 
    • Flights into Atlanta are frequent, affordable, accessible, and often nonstop from almost anywhere in the world. 
    • Easy access to the GWCC and downtown from the airport via Ride Share or mass transit.   
    • Hotel availability to meet our needs within a five-block radius.   
    • Restaurants are plentiful and meals are more affordable than in many other cities. 
    • For the keynote, the conference center is adjacent to the State Farm Arena, the home of the Atlanta Hawks.  
    • The Georgia Aquarium will be an amazing location for the attendee party. They’ve got whale sharks!  

    Save your spot! 

    P.S. Want to experience the FabCon magic before next spring? Join us in September at FabCon Vienna. 

    MIL OSI Economics –

  • MIL-OSI Economics: Moving the Boundaries of Financial Inclusion- A Regulatory Perspective – Address delivered by Shri M Rajeshwar Rao, Deputy Governor, Reserve Bank of India – June 05, 2025 – at HSBC’s event for Financial Inclusion in Mumbai

    Source: Reserve Bank of India

    Distinguished guests, participants, ladies and gentlemen, Good evening.

    At the outset, let me thank the organisers for inviting me to share some of my thoughts on the theme of financial inclusion. Before that, let me take a moment to acknowledge that today i.e., June 05, 2025, is the World Environment Day, an UN-recognized day that brings together people across the globe in a shared mission to safeguard and restore our planet. This year’s theme of ending plastic pollution is a call to all of us to make a behavioural shift in our daily life choices. In the spirit of preserving the purity of our environment and safeguarding our well-being, let us commit toward making more sustainable choices.

    2. Coming back to our theme for the day, let me begin by stating the obvious that financial inclusion is not just a policy objective but a collective obligation and responsibility for all stakeholders in the financial ecosystem. The importance of the theme can be underscored by the fact that at least seven out of the seventeen United Nations Sustainable Development Goals of 2030 view financial inclusion as a key enabler for achieving sustainable development worldwide by improving the quality of lives of poor and marginalized sections of the society. It is seen as a way to bridge the gap between the privileged and the under-privileged and a way to bring people out of poverty. An inclusive financial system has the potential to reduce income inequality and poverty, promote social cohesion and enable shared economic development. It also can dissuade the disadvantaged and low-income segments of society from seeking out informal options that renders them vulnerable to financial distress, debt, and poverty.

    History of Financial Inclusion in India

    3. Given the theme for today’s discourse, it would be worthwhile to set the historical context regarding financial inclusion in India. While the financial inclusion initiatives in our country can in many ways be traced back to the 1950s, with significant developments ensuing in the subsequent decade, it was the National Credit Council meeting of July 1968 that paved the way for framing of Priority Sector Lending (PSL) guidelines, nationalisation of select private banks in July 1969 and launch of the Lead Bank Scheme in December 1969 that were the precursors of this journey. The branch expansion policy adopted by RBI during the 1970s, which required a specific number of branches to be opened in rural areas for every branch opened in urban areas, became the foundation for expanding the reach of banking services that we see today. Besides, the experiments with group-based lending towards the turn of the last century and proliferation of microfinance institutions have also helped link the unserved section of the population with the formal banking system.

    4. Interestingly, the above initiatives were taken during a period when the term ‘financial inclusion’ was not prevalent in the country. The first reference to the term was made in RBI’s Annual Policy Statement for the Year 2005-06 by Dr Y.V. Reddy2, the then Governor of the Reserve Bank of India, who highlighted ‘financial exclusion’ that resulted due to certain banking practices. Banks were then urged to review their existing practices to align them with the objective of financial inclusion, leading to the genesis of ‘no frills’ account, which are now known as Basic Savings Bank Deposit Accounts.

    Financial Inclusion in Indian Context

    5. The first step in promoting financial inclusion is understanding its nuances, which are as dynamic and diverse as the Indian economy itself, and thereafter outline its ambit in the Indian context. Given its multi-faceted nature, various organisations and jurisdictions have defined financial inclusion in different ways. In India, the formal definition of financial inclusion3 was given in January 2008 by the Committee on Financial Inclusion chaired by Dr C Rangarajan as “the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low-income groups at an affordable cost”. Reflecting the priorities of that time, the definition focused largely on the access to financial services. Currently we have a scenario, where more than 95% households have access to a bank account4, which reflects remarkable progress on one out of three parameters of Financial Inclusion Index developed by the Reserve Bank to measure the extent of financial inclusion in the country.

    6. While there has been a significant progress in expanding the banking reach, it is also important to ensure that inherent barriers to a gamut of financial products and services are eliminated and usage of these services expands to various segments of yet underserved and un-served population in the country. Efforts towards making financial services accessible become futile if they are not used by the intended population or are used without appropriate awareness of its risks and benefits. Thus, the other two parameters of RBI’s financial inclusion index, viz., usage and quality of the financial services cannot be overlooked while defining or measuring financial inclusion. Over the last few years this index has shown reasonable improvement, but there is a scope for improvement in some aspects.

    Current Scenario

    7. To get a perspective on the current scenario, it would be worthwhile to dwell a bit on some of the recent developments in the journey of financial inclusion in the country. Several policy measures towards furthering financial inclusion have been undertaken from time to time, but it was the launch of Pradhan Mantri Jan Dhan Yojana (PMJDY) that became the watershed moment in this journey. The Jan Dhan Yojana – Aadhar – Mobile i.e., JAM trinity provided a quantum leap in our endeavour to ensure access to banking services for all adults, making it the world’s largest financial inclusion program. As of May 21, 20255, 55.44 crore Jan Dhan accounts, 56% of which belong to women, have over ₹2.5 lakh crore worth of deposits, which speaks volumes about the impact of the scheme. The provision of universal access to bank accounts has not only increased the potential reach of other financial services but has also enabled frictionless delivery of welfare programs to the targeted segment through adoption of Direct Benefit Transfer (DBT).

    Digital Payments

    8. Access to a bank account is a prerequisite for availing other financial services, and a robust payments and settlements system is an indispensable enabler for proliferation of formal financial services. Over the past decade, the fundamentals of banking have changed with the advent of digital modes of banking like net banking and mobile banking as well as digital payments systems like Unified Payment Interface (UPI). In FY 2024-25, digital payments surged 35% Y-o-Y by volume to 60.81 crore transactions per day, with UPI accounting for 83.73% of such transactions6. The extraordinary uptake of UPI stands as a testament to the power of collaborative and use-case-driven innovation in driving financial inclusion. A particularly compelling example of this transformation can be seen in the informal sector—where today a street vendor or pop-up store owner nonchalantly places a QR code at the fore and receives payment for services without any hassle for cash and quietly integrating himself into the formal financial system with dignity and ease.

    9. For further expanding and deepening the digital payments ecosystem in the country, a Payments Infrastructure and Development Fund has been constituted to encourage deployment of payment acceptance infrastructure. Further, all State and Union Territory Level Bankers’ Committees have been advised to identify districts and assign them to designated banks, with an endeavour to make these districts 100 per cent digitally enabled. The objective is to provide every eligible individual in the identified district at least one mode of digital payments viz., cards, net banking, UPI, AEPS7, etc. It is understood that as on March 31, 2025, 514 districts across 15 states and 6 UTs are 100 percent digitally enabled. This marks a significant milestone in our journey towards a digitally inclusive economy.

    RBI’s financial inclusion index.

    10. RBI’s financial inclusion index, which captures the extent of financial inclusion across the country, with four iterations published till date, has increased from 60.1 in March 2023 to 64.2 in March 2024, showing a Y-o-Y increase of 6.82 per cent. While the progress is appreciable, credit gaps still exist in the system which may be attributed amongst others to a lack of documentation available with the individuals/ entities in the informal system and of awareness regarding the various government schemes. There is as such a need to make concerted efforts to fill them.

    Recent regulatory initiatives

    11. The RBI has been sensitive to need to bring about improvement in the financial inclusion in the country. Some of the measures taken recently in this regard include raising the limit for collateral-free agriculture loans to ₹2 lakh per borrower, enhancing various loan limits under PSL, expansion of the list of eligible borrowers under the category of ‘Weaker Sections’ alongwith removal of existing cap on loans by UCBs to women beneficiaries. The scope of co-lending is proposed to be broadened by expanding the list of permitted regulated entities (REs) that can enter a co-lending arrangement and extending the same beyond PSL loans. A comprehensive review of the Lead Bank Scheme is also underway with an objective to enhance the effectiveness and impact of the scheme.

    12. With respect to digital payments, permissible transaction limit on UPI Lite has been revised in FY 2025 from ₹500 to ₹1000 and on UPI 123PAY from ₹5,000 to ₹10,000 to encourage their wider adoption. Further, with a view to promote digital payments among individuals without bank accounts, UPI Circle has been introduced which allows a secondary user to make UPI transactions up to a limit from the primary user’s bank account in a secure manner. Besides, in an effort to enhance ease of access to digital infrastructure for persons with disabilities, payment system participants (PSPs) have been advised to review their payment systems and devices and carry out necessary modifications so that all such systems and devices can be easily accessed and used by persons with disabilities.

    Financial Literacy

    13. Meaningful financial inclusion also requires access and awareness in right proportions for ensuring responsible and equitable service delivery of financial services. Therefore, financial literacy and financial inclusion need to be considered as two sides of the same coin – promoting financial inclusion without adequate financial literacy would lead to underutilization of financial services and increased chances of errors and frauds. Conversely, educating the consumers without facilitating their access to the formal financial system would result into unmet demand for financial services. The efforts towards augmenting financing literacy have been institutionalised by setting up of the National Centre of Financial Education (NCFE) jointly by the financial sector regulators. RBI as a regulator has been at the forefront of financial literacy with the launch of annual Financial Literacy Week campaigns targeted at specified sections of the population. Financial awareness empowers borrowers to assess and understand financial products, thereby supporting informed decision-making. To facilitate informed decision making by the customers and enhance transparency by the lenders, the RBI has mandated that all REs provide a standardised disclosure of key terms and conditions in the form of Key Fact Statement (KFS) to all retail and MSME borrowers.

    Challenges

    14. Even as all the stakeholders in the financial system, including the regulator and the REs, play their part in advancing financial inclusion, certain issues that act as impediments to the efforts made in this regard have come to the fore and will need to be addressed. Let me briefly highlight a few such issues.

    Grievance Redressal

    15. Having an effective grievance redressal mechanism is non-negotiable for financial sector enterprises as non-resolution of consumer’s concerns not only leads to erosion of customer base but also results in loss of trust in the broader financial system and deters new consumers from entering the system. It is concerning that the complaints received at the Offices of RBI Ombudsmen as well as Centralized Receipt and Processing Centres (CRPCs) marked a sharp 33% year-on-year increase8 in FY2023-24. This raises questions on the products, practices, and handling of grievances at the level of the RE. REs, therefore, need to analyse the gaps and strengthen their processes to reverse the trend of increasing grievances.

    Mis-selling

    16. While financial inclusion entails a bouquet of financial services, pushing the same indiscriminately to unaware consumers may be detrimental to their well-being and undermine its stated intent. There are reports of mis-selling of financial services such as insurance products. The concern is that such mis-selling without regard to suitability and appropriateness would beget distrust in schemes aimed at providing a safety net to the low-income households by creating artificial boundaries. We are examining whether it necessitates framing of guidelines to address mis-selling of financial products and services by REs.

    Cyber Safety and Digital Literacy

    17. As digitalization becomes more pervasive, the need for increasing digital literacy becomes even more pronounced. Empowering individuals to use digital devices and platforms with confidence and security is essential to ensuring inclusive participation in the digital economy. Often, apprehensions related to uncertainty, the possibility of errors, or financial loss create psychological barriers that hinder the adoption of technological solutions such as ATMs, mobile banking, and other digital services. The rising incidents of frauds through novel techniques makes it imperative that REs collaborate with other stakeholders like SROs, NGOs, etc. to generate awareness and promote safe digital practices among customers.

    18. At the same time, it is critical for REs to implement effective measures to combat digital frauds. One such area warranting attention is the use of One-Time Passwords (OTPs) as a means of Additional Factor Authentication (AFA). While this method has served well in the past, the evolving threat landscape in the arena of cybersecurity now calls for the development and adoption of more secure and resilient alternatives. Further, REs must diligently adopt the designated 160 number series9 for all service and transactional voice calls as prescribed by the Government. This initiative is critical to maintaining the integrity of communication channels and protecting customers from phishing and other forms of cyber-attacks.

    19. RBI has been running extensive multimedia awareness campaigns using audio-visual messages under the name ‘RBI Kehta Hai’ and text messages as ‘RBI Says’. Further, RBI has introduced the bank.in and fin.in domains exclusively for banks and non-bank entities to curb cyber security threats and malicious activities. Also, to aid the customers in verifying Digital Lending Apps’ (DLAs) association with RE, the RBI has created a public repository of DLAs deployed by the REs which will soon be available on RBI’s website.

    Developments in Microfinance

    20. Let me now focus on a few developments in Microfinance sector. Microfinance has placed itself as a promising avenue for providing formal financial services to the excluded sections of population. While microfinance has played an important role in financial inclusion, there are some issues which need attention. The sector continues to suffer from vicious cycle of over-indebtedness, high interest rates and harsh recovery practices. While some moderation in interest rates charged on microfinance loans has been observed in recent quarters, pockets of high interest rates and elevated margins continue to persist. Even lenders having access to low-cost funds have been found to be charging margins significantly higher than the rest of the industry and which in several instances appear to be excessive. The lenders should look beyond the conventional “high-yielding business” tag for the sector and approach it with an empathic and developmental perspective, recognising the socio-economic role that microfinance plays in empowering vulnerable communities.

    21. The frequency of disruptions in the microfinance sector has increased of late. Incidents of high borrower indebtedness, coupled with coercive recovery practices, sometimes lead to tragic consequences. It is in the collective interest of all stakeholders that such disruptions are pre-emptively addressed and avoided. In this regard, REs must also enhance their credit appraisal frameworks to prevent over-leveraging of borrowers. Additionally, they must eschew any coercive or unethical recovery practices, ensuring that financial services are delivered in a manner that is both responsible and sustainable. While the business model may be sound, the organisational structure and the incentive schemes framed to deliver the services may be flawed resulting in perverse outcomes for customers. This calls for an introspection around the models.

    Way Forward

    22. Even as we reflect on some of these challenges, we need to be clear about the path that we must take to ensure greater financial inclusion. As we look to the future, the way forward for financial inclusion lies in the strategic deployment of emerging technologies to build a more accessible, equitable, and efficient financial ecosystem. Innovations such as AI, blockchain, and digital public infrastructure are revolutionizing how financial services are delivered, especially to the underserved and remote communities. One such innovation in this space is the Account Aggregator (AA) framework. By empowering individuals to securely share their financial data with consent, the AA system enables more accurate credit assessments and potentially facilitates the delivery of customized financial products. Building on this foundation, the Unified Lending Interface (ULI) standardizes and streamlines the digital lending process by providing lenders with a host of alternate data including digitised state land records, milk pouring data and satellite data. It’s RBI’s belief that the JAM trinity will be followed by the new trinity of JAM-UPI-ULI in revolutionizing digital infrastructure and credit delivery and provide necessary fillip to financial inclusion efforts, pushing it to new highs.

    23. The development and implementation of India Stack has revolutionised the banking landscape in India and has been instrumental in furthering financial inclusion by reducing infrastructural, geographical, and linguistic frictions and plugging leakages. REs have been encouraged to innovate in product design, offering solutions that reflect the unique needs of their customer base; for instance, offering flexibility in repayment schedules, variable savings contributions, and locally tailored financial products shaped by seasonal income cycles, occupational patterns, or behavioural tendencies. Such customisation can go a long way in further improving access, usage, and quality of financial services. REs can bring some of these innovations under the theme neutral ‘On Tap’ Regulatory Sandbox framework, which provides a structured environment for testing state-of-the-art solutions in the interest of consumers and financial stability. As connectivity can pose challenges in remote and rural areas, REs can explore the development of lightweight mobile applications and web interfaces optimised for low-bandwidth environments. These measures will go a long way in extending the reach of digital financial services to the last mile, thereby ensuring inclusive and accessible banking for all.

    24. A lot has been achieved in the journey for achieving financial inclusion thus far, yet a lot more needs to be done. It cannot be merely achieved by standalone policy initiatives but by implementation of such initiatives both in letter and spirit by all stakeholders in the financial ecosystem. Also, those who remain outside the ambit of formal finance today represent untapped potential that can meaningfully contribute to economic growth in the future. The dividends of such inclusion will not only accrue to the institutions involved but will also strengthen the foundation of a more resilient, equitable, and prosperous society. Financial inclusion should not be viewed as an act of philanthropy, but rather as a strategic investment in the nation’s economic and social development. With the right mix of well thought of and carefully crafted regulation, technological advancement, and institutional empathy, our collective efforts can dismantle longstanding barriers and usher in a new era of inclusive and sustainable financial growth – one that leaves no citizen behind and resonates far beyond set boundaries.

    Thank you.

    MIL OSI Economics –

  • MIL-OSI Economics: Large Exposures Framework – Amendment in the list of exempted exposures

    Source: Reserve Bank of India

    RBI/2025-26/48
    DOR.CRE.REC.27/21.01.003/2025-26

    June 9, 2025

    All Scheduled Commercial Banks (Excluding Regional Rural Banks)

    Madam / Dear Sir,

    Large Exposures Framework – Amendment in the list of exempted exposures

    Please refer to paragraph 3.1 of the Annex to the circular DBR.No.BP.BC.43/21.01.003/2018-19 dated June 03, 2019 on ‘Large Exposures Framework’ (LEF) in terms of which “deposits maintained with NABARD on account of shortfall in achievement of targets for priority sector lending” are excluded from being considered for exposure limits under LEF.

    2. In this connection, it is advised that in addition to NABARD, the above exemption shall also be applicable to contribution made by the scheduled commercial banks to funds with NHB, SIDBI, MUDRA Ltd., or any other entity specified by RBI, on account of shortfall in achievement of targets for priority sector lending.

    3. The above instruction is applicable with immediate effect.

    Yours faithfully,

    (Vaibhav Chaturvedi)
    Chief General Manager

    MIL OSI Economics –

  • MIL-OSI Economics: Non-achievement of PSL targets – Prudential treatment of contribution towards eligible funds with NABARD, NHB, SIDBI and MUDRA Ltd.

    Source: Reserve Bank of India

    RBI/2025-26/49
    DoR.CRE.REC.28/07.10.002/2025-26

    June 9, 2025

    Primary (Urban) Co-operative Banks other than Salary Earners’ Banks

    Madam / Dear Sir,

    Non-achievement of PSL targets – Prudential treatment of contribution towards eligible funds with NABARD, NHB, SIDBI and MUDRA Ltd.

    A. Exemption from exposure norms

    In terms of para 2.1 of circular DOR (PCB).BPD.Cir No.10/13.05.000/2019-20 dated March 13, 2020 on ‘Limits on exposure to single and group borrowers/parties and large exposures and Revision in the target for priority sector lending – UCBs’, the prudential exposure limits for UCBs for a single borrower/party and a group of connected borrowers/parties are specified as 15 per cent and 25 per cent, respectively, of their tier-I capital.

    2. On a review, it has been decided that the contribution1 by UCBs towards eligible funds with NABARD, NHB, SIDBI, MUDRA Ltd., or any other entity specified by RBI, on account of shortfall in PSL targets shall not be included while computing the aggregate exposure of a UCB to such counterparties for the purpose of deciding the above prudential exposure limits.

    B. Risk weight

    3. It is further clarified that contribution by UCBs towards above eligible funds on account of shortfall in PSL targets, shall fall under the category of ‘all other assets’, attracting a risk weight of 100 per cent2 for capital adequacy purposes, in terms of Annexure 1 of the RBI circular UBD.No.POT.PCB.Cir.No.45/09.116.00/2000-01 dated April 25, 2001 on ‘Application of Capital Adequacy Norms to Urban (Primary) Co-operative Banks’.

    C. Applicability

    4. The above instructions are applicable with immediate effect.

    Yours faithfully,

    (Vaibhav Chaturvedi)
    Chief General Manager

    MIL OSI Economics –

  • MIL-OSI Economics: Of Passion, Perseverance and Patents: Women Innovators at SRI-B

    Source: Samsung

    Young innovators from SRI-B, Shweta, Anusha and Meghana (from L-R)
     
    Innovation is not born in labs—it takes shape in minds that dare to ask “what if?”
     
    At the heart of Samsung R&D Institute India, Bangalore (SRI-B), three remarkable women—Meghana, Anusha, and Shweta—are pushing those boundaries.
     
    And their journeys prove that curiosity is not just a spark, it’s a force. From quiet moments of problem-solving to the thrill of seeing an idea patented, these remarkable engineers are paving the way for a future where more women lead innovation in tech.
     
    Discipline and Depth: Anusha’s IP journey in Cellular Tech
    Anusha has 92 global patent filings! Her pathway to success is driven by diligent learning and disciplined innovation. Since her patent journey began in 2015, she has become a powerhouse in the physical layer of cellular communications, with many global patents spanning 4G and emerging 6G technologies. For Anusha, her innovation journey centers on deeply mastering the intricate 3GPP standards and receiver algorithms within the cellular physical layer, then identifying and solving advanced problems that bridge these frameworks. She emphasizes the importance of protecting and nurturing one’s unique problem-solving skills to carve out a distinct niche for oneself. “Innovation is a skill that can be cultivated through the right practice with great discipline,” she says. Her collaborative approach fuels continuous growth.
     
    From Curiosity to Creation: Meghana’s journey through explorative research 
    “Building something from scratch is messy, iterative but is deeply rewarding,” says Meghana. When she joined SRI-B in late 2022, her goal was simple: design a high fidelity multicapture rig for hand tracking in the immersive XR space. What began as a hands-on engineering challenge soon turned into a progressive patent journey with over 29 global filings, and still counting. Her explorations, in setting up a state-of-art multicapture rig with her team soon became a launchpad for discoveries on hand kinematics, low-light tracking, and fatigue detection. Meghana’s story reveals how innovation is often less about grand visions and more about meticulous, iterative exploration.
     
    Exploration and Excellence: Shweta’s journey Through Network Innovation
    Shweta’s experience offers a glimpse into the early sparks of curiosity that fuel long-term innovation. Her first stint with patents came through a shelved idea on RF elements, which nonetheless ignited a lasting interest in intellectual property. Specializing in Non-Access Stratum (NAS) and later expanding to network layers, Shweta has contributed to critical patents in 5G and beyond. Her journey highlights the importance of mentorship and a supportive environment. Shweta firmly believes that patience to nurture ideas from start to finish is key in the generation of patents. “Collaboration with the right people also helps to refine and elevate these ideas into impactful innovations,” she added.
     
    Her track record of 73 patent filings continues to inspire many.
     
    Unstoppable Spirit: Beyond Numbers
    What unites these three women is a shared belief that innovation is about more than just the number of patents filed. It is about solving meaningful problems, pushing boundaries, and nurturing a culture of curiosity and collaboration. Their stories remind us that women innovators are not just participants but leaders in shaping technology’s future. By bringing in deep passion, hands-on engineering, disciplined scholarship, and open collaboration, Meghana, Anusha, and Shweta are quietly setting new benchmarks in technology.
     

    MIL OSI Economics –

  • MIL-OSI Economics: Basel III Capital Regulations – External Credit Assessment Institution (ECAI)

    Source: Reserve Bank of India

    RBI/2025-26/50
    DOR.STR.REC.29/21.06.008/2025-26

    June 09, 2025

    All Scheduled Commercial Banks
    (including Small Finance Banks)
    (excluding Local Area Banks, Payments Banks and Regional Rural Banks)

    Dear Sir/ Madam,

    Basel III Capital Regulations – External Credit Assessment Institution (ECAI)

    Please refer to paragraph 6.1.2 of the Master Circular No. DOR.CAP.REC.2/21.06.201/2025-26 dated April 1, 2025 on Basel III Capital Regulations, wherein the list of domestic credit rating agencies accredited for the purpose of risk weighting banks’ claims for capital adequacy purposes has been prescribed.

    2. A reference is also invited to the circular DOR.STR.REC.26/21.06.008/2024-25 dated July 10, 2024 in terms of which, banks were permitted to use the ratings of Brickwork Ratings India Private Limited (BRIPL) for risk weighting their claims for capital adequacy purposes subject to the restrictions/limits specified therein.

    3. On a review, it has been decided to remove the restrictions/ limits placed on the use of ratings of BRIPL by the banks.

    4. All other provisions regarding external credit ratings stipulated in the Master Circular ibid remain unchanged.

    Yours faithfully,

    (Vaibhav Chaturvedi)
    Chief General Manager

    MIL OSI Economics –

  • MIL-OSI Economics: Barclays is scaling Microsoft 365 Copilot to 100,000 employees, putting AI in every employee’s hands. This will simplify how they access information, get things done, and make Copilot the UI for Barclays AI.

    Source: Microsoft

    Headline: Barclays is scaling Microsoft 365 Copilot to 100,000 employees, putting AI in every employee’s hands. This will simplify how they access information, get things done, and make Copilot the UI for Barclays AI.

    A strong move – not just a tech upgrade, but a shift in daily workflows at scale. When Copilot becomes the UI, it’s less about features and more about how decisions, documents, and dialogue are all being reframed through AI. Curious to see how this plays out in regulated environments like finance.

    MIL OSI Economics –

  • MIL-OSI Economics: Authority contributing to global fintech event

    Source: Isle of Man

    The Head of Innovation Strategy at the Isle of Man Financial Services Authority is taking part in an international conference focusing on fintech innovation and emerging technologies.

    Ros Lynch has been invited to contribute to a panel discussion at the Global Government Fintech Lab 2025 in Dublin on Wednesday 11 June. The flagship event brings together professionals from more than 20 countries to share expertise and experience about how financial authorities are using technology to improve their operations and delivery.

    Ros is appearing alongside panellists from Latvia, Portugal and Ireland to discuss how regulators and supervisors are seeking to foster financial innovation to achieve better outcomes for stakeholders.

    Participating in the one-day conference supports the Authority’s international engagement and its commitment to embracing innovation within an appropriately regulated environment.

    Ros said: ‘This is an excellent opportunity to tap into the expertise of fintech professionals from around the world. The Authority continues to work collaboratively with industry, government and international partners to promote the Isle of Man as a good place to locate and grow tech-focused businesses.’

    She added: ‘We place a strong focus on data and technology to support our risk-based approach to supervising the Island’s finance sector. The panel discussion will provide an opportunity for me to showcase how a smaller jurisdiction such as ours can harness the power of fintech innovation to enhance regulatory efficiency and responsiveness.’

    MIL OSI Economics –

  • MIL-OSI Economics: ADB, CGIAR, and Gates Foundation Partner to Transform Rice Sector, Uplift Millions of Smallholder Farmers in Asia and the Pacific

    Source: Asia Development Bank

    ADB and CGIAR, with support from the Gates Foundation, have launched a new initiative to boost investments in sustainable and low-carbon rice production with the aim of improving the lives of millions of vulnerable smallholder farmers across Asia and the Pacific.

    MIL OSI Economics –

  • MIL-OSI Economics: Development Asia: Moa Housing: A Small-Scale Approach to Transform Seoul’s Aging Neighborhoods

    Source: Asia Development Bank

    Introduction

    The city of Seoul’s Moa Housing initiative is an innovative urban renewal strategy launched in 2022 to revitalize aging, low-rise residential areas that are difficult to redevelop on a larger scale. These neighborhoods—developed in the 1960s and 1980s—consist of compact, multi-family housing districts with narrow streets, insufficient parking, outdated infrastructure, and limited green spaces.

    To overcome these challenges, the initiative introduces a new model that consolidates small plots of land for collective development, enabling residents to build high-quality housing while securing underground parking, green spaces, and other infrastructure. Once consolidated and infrastructure is established, these areas are designated as “Moa Towns.”

    Unlike conventional redevelopment—which can take 10 years and require two-thirds of buildings to be in poor condition—Moa Housing operates on a faster four to five-year timeline. It streamlines the process and offers favorable conditions, including regulatory exemptions and incentives. The program is built on resident participation, supported by public–private partnerships, and aims to provide 30,000 new homes across 100 Moa Towns in 25 years, with the first town scheduled for completion in 2028.

    What is the Moa Housing initiative?

    Moa Housing is a maintenance project in which homeowners collectively own and manage individual parcels of land and develop them together into high-quality housing on a block-by-block basis. It is a small-scale urban renewal model focused on low-rise residential areas that are hard to redevelop under traditional large-scale projects.

    How does the Moa Housing model work?

    The model gathers low-rise areas (within 100,000 square meters) with a mix of old and new buildings, establishes a regional unit, and creates a management plan. Once underground parking and green spaces are secured, the area is designated as a “Moa Town” and implemented through a streamlined process with better incentives than conventional redevelopment.

    What problems does Moa Housing address?

    Moa Housing targets long-standing issues common in aging, low-rise neighborhoods that hinder livability and safety. These include:

    • High-density housing areas with illegal parking and resident conflict
    • Narrow streets that obstruct fire trucks and emergency response
    • Topographical challenges that make access during emergencies and evacuation difficult
    • Inadequate infrastructure such as parking lots, parks, and green space
    • Fragmented development when using building-by-building improvements

    How does Moa Housing differ from conventional redevelopment?

    Moa Housing offers a more flexible and expedited alternative to traditional redevelopment models. Key differences include the following:

    • Traditional redevelopment requires at least two-thirds of buildings be in poor condition—Moa Housing does not.
    • Projects can proceed without major building deterioration in hard-to-develop locations.
    • Moa Housing projects are exempt from architectural and urban management standards, such as height and floor area ratio, as long as site conditions are met.
    • Timeline is significantly faster: 4–5 years versus 10 years or more for conventional projects.

    How are Moa Towns selected?

    There are two methods:

    • A contest conducted by borough offices
    • Consultation based on residents’ proposals

    After meeting eligibility conditions, a management plan must be submitted to the autonomous district. The required conditions are:

    • At least two cooperatives must be established to implement small-scale housing maintenance.
    • Consent from at least two-thirds of the land area targeted by the project must be obtained.

    As of June 2025, 111 neighborhoods have been selected as Moa Town project sites. One site is currently under construction and expected to be completed around 2028.

    What happens once an area is designated as a Moa Town?

    Each autonomous district prepares a Moa Town Management Plan, which is shared with residents and reviewed by a committee. After approval, the plan is granted legal status as a “small housing maintenance management area.” The project then proceeds.

    What financial support does the city provide?

    The Seoul Metropolitan Government pledges to provide 70% of the establishment cost (up to 380 million won per site) for management plan formulation. The remaining 30% is covered by the district.

    What kinds of projects are included under Moa Housing?

    Moa Housing includes various small-scale maintenance types under the Small-scale Housing Maintenance Act:

    • Autonomous housing maintenance
    • Street housing maintenance
    • Small-scale reconstruction
    • Small-scale redevelopment

    Projects are implemented through joint development using architectural agreements.

    What types of improvements are made in Moa Towns?

    Moa Towns are designed to enhance livability through shared infrastructure and better land use. These improvements include:

    • Underground parking lots and increased green spaces
    • Community and shared facilities along low-rise streets
    • Upgraded living infrastructure, including community amenities
    • More integrated, accessible environments for residents

    What makes the business model feasible and attractive?

    The Moa Housing model streamlines redevelopment and offers strong financial and regulatory support, including:

    • Shorter business cycle of 4–5 years compared to 10 years
    • Exemptions from zoning and urban design rules
    • Upzoning and simplified commercial use changes
    • Government subsidies improve project profitability
    • Public architect support for design and planning

    Were there any early difficulties with the project?

    Residents initially had limited understanding of the project’s scope, and promotional efforts were insufficient. Momentum improved after the SH Corporation launched a pilot Moa Town site, focusing on areas with constraints (e.g., height restrictions) and helping raise awareness.

    What are some example sites of Moa Housing in action?

    • An old low-rise residential area near Jungnang Station with a high density of multi-family dwellings.
    • Junghwa 1-dong, Jungnang-gu: Existing dilapidated housing is being transformed into a complex with new infrastructure and essential amenities.

    What are the long-term goals and outcomes of the project?

    Moa Housing aims to transform Seoul’s aging neighborhoods into vibrant, sustainable communities. Its key goals include:

    • Deliver 30,000 homes in 25 years
    • Designate 100 Moa Towns across Seoul
    • Rejuvenate aging districts while addressing housing shortages
    • Enhance quality of life and revitalize local economies
    • Promote energy-efficient buildings, green spaces, and job creation

    How does Moa Housing promote inclusion and diversity in housing?

    By providing a range of housing types, the initiative accommodates varied income levels and lifestyles, promoting a more inclusive housing market.

    The Moa Town project is predicated on the principle of community participation, with residents playing an active role in the planning and execution of the project. Residents are directly involved in the planning and implementation of the project, creating a customized residential environment that reflects the actual needs and wants of the residents. The development of the local economy is twofold: (i) it contributes to improving living spaces, and (ii) it contributes to the economic development of the local area.

    What are the economic development benefits?

    Moa Housing injects public funds into key infrastructure like public parking and parks, which improves local conditions and boosts business profitability. The simplified regulatory framework enhances efficiency for developers.

    What partnerships support Moa Housing?

    Moa Housing is driven by collaboration between the public and private sectors to ensure efficient project delivery. This joint approach ensures cost-effective execution.

    • Public sector: responsible for licensing, financing, and infrastructure
    • Private sector: responsible for construction and project implementation

    Figure 1: Overview of available support for joint project

    Source: Seoul Metropolitan Government.

    What are the risks or drawbacks of the model?

    While Moa Housing offers many benefits, it also faces some limitations that can impact implementation:

    • Higher construction costs than typical redevelopment
    • Requires resident consent, which may be hard to obtain
    • Less popular than large-scale complexes
    • As a new initiative, outcomes are not yet fully determined

    When selectively applied, Moa Housing facilitates more efficient urban maintenance.

    What lessons can cities learn from Moa Housing?

    The initiative provides valuable insights into small-scale, community-centered urban renewal:

    • Supports structural change in low-rise housing at appropriate densities
    • Addresses issues such as isolated projects, inadequate infrastructure, and disconnected living environments
    • Demonstrates how community engagement, sustainable design, and localized planning can deliver high-impact results
    • Offers a scalable, replicable model for other urban centers facing similar renewal challenges

    MIL OSI Economics –

  • MIL-OSI Economics: BYD’s growth hinges on EV demand stability and financial transparency, says GlobalData

    Source: GlobalData

    BYD’s growth hinges on EV demand stability and financial transparency, says GlobalData

    Posted in Business Fundamentals

    Following the news that China-based electric vehicle (EV) giant BYD Co Ltd is under scrutiny as its rapidly rising accounts payables raise concerns over a potential hidden debt burden;

    Murthy Grandhi, Company Profiles Analyst at GlobalData, a leading data and analytics company, offers his view:

    “BYD posted record 2024 results with revenues of $108.1 billion (CNY777.1 billion) (+29% year-on-year (YoY)) and net profit of $5.6 billion (CNY40.2 billion) (+34% YoY). However, experts warn that the company’s growing reliance on supply chain financing could expose it to serious financial risks if market conditions deteriorate.

    “Despite holding $17.8 billion (CNY102.5 billion) in cash and reducing total debt to $5.8 billion (CNY194.2 billion), BYD’s accounts payables rose 24.3% YoY to $33.6 billion (CNY241.6 billion) in 2024, reaching $34.9 billion (CNY250.8 billion) by March 2025. Over five years, this figure has grown at a CAGR of 41.2%, outpacing both revenue and profit growth.

    “BYD’s financing method involves issuing commercial paper to suppliers, who then sell it to banks. These are treated as trade finance, not corporate debt. However, if credit sentiment shifts, this paper could trade below par. Banks may demand cash, suppliers may go unpaid, and production lines could stall—like Evergrande’s liquidity crisis.

    “The broader risk is systemic. BYD anchors a vast ecosystem of parts suppliers, particularly in Guangdong and Hunan provinces, employing over 900,000 people. A disruption in payments could trigger a liquidity shock across the supply chain.

    “GlobalData emphasizes that this model is only vulnerable under significant market stress. If EV demand drops or credit tightens, BYD may need to accelerate supplier payments or seek external funding—both of which could strain its liquidity. BYD’s capacity to sustain growth while ensuring financial transparency will be vital to preserving investor confidence amid its increasingly leveraged expansion.”

    MIL OSI Economics –

  • MIL-OSI Economics: Fannie Mae Publishes May 2025 National Housing Survey Results

    Source: Fannie Mae

    Follow Fannie Mae
    fanniemae.com 

    Media Contact
    Matthew Classick
    202-752-3662

    Fannie Mae Newsroom
    https://www.fanniemae.com/news

    Photo of Fannie Mae
    https://www.fanniemae.com/resources/img/about-fm/fm-building.tif

    Fannie Mae Resource Center
    1-800-2FANNIE

    Opinions, analyses, estimates, forecasts, beliefs, and other views of Fannie Mae’s Economic and Strategic Research (ESR) Group or survey respondents included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, beliefs, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, beliefs, and other views published by the ESR Group represent the views of that group or survey respondents as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

    MIL OSI Economics –

  • MIL-OSI Economics: Thin, Light and Built to Last: The New Era of the Galaxy Z Series

    Source: Samsung

    While people have long valued smartphones for their power, convenience and usability, they’ve also expected a mobile device that blends versatility with portability. At Samsung Electronics, our drive to deliver the ultimate mobile experience has always been guided by the needs of our users. This unwavering commitment to meeting their evolving needs has driven the development and ongoing refinement of innovative form factors that consistently redefine the parameters of mobile experiences.
     
    Introduced in 2019, the first Galaxy Fold was a completely new form factor that combined the portability of a smartphone with the extensive productivity of a tablet — challenging conventional perceptions of what a smartphone could be. Driven by the bold vision that foldable phones could reconcile two seemingly conflicting demands — large screens and true portability — Samsung looked to other industries for inspiration, engineering a durable hinge and proving that smartphone displays, too, could fold. It was a synthesis of creativity and productivity that unlocked new possibilities — from seamless multitasking on the go to immersive content creation.
     
    But smartphones are constant companions that we tuck into our pockets, use with one hand and take everywhere we go. So it’s only natural that users desire a foldable device that is as easy to carry as it is to use. To that end,  Samsung engineers and designers are refining each generation of the Galaxy Z series to be thinner, lighter and more durable than the last.
     

    * Image simulated for illustrative purposes
     
    This year, that journey reaches a new milestone. The newest Galaxy Z series is the thinnest, lightest and most advanced foldable yet — meticulously crafted and built to last.
     
    The Ultra experience is ready to unfold.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN meets with the ASEAN Committee in Oslo

    Source: ASEAN – Association of SouthEast Asian Nations

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, started off his working visit to Norway with the meeting with the ASEAN Committee in Oslo (ACO), on 9 June 2025. During the meeting, Dr. Kao thanked the Committee for its active role and contribution in promoting the profile and visibility of ASEAN in Norway, and in enhancing ASEAN-Norway relations. Dr. Kao also shared thoughts on ways to further strengthen the ASEAN-Norway Sectoral Dialogue Partnership and briefed the Committee on the latest developments in ASEAN. The Meeting was followed by a dinner reception with the ACO and other key stakeholders, including Norway-ASEAN Business Association, where Dr. Kao delivered remarks reaffirming ASEAN’s unwavering commitment to deepening its partnership with Norway in the years to come.
     
    Download the full remarks here.

    The post Secretary-General of ASEAN meets with the ASEAN Committee in Oslo appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Apple supercharges its tools and technologies for developers

    Source: Apple

    Headline: Apple supercharges its tools and technologies for developers

    June 9, 2025

    PRESS RELEASE

    Apple supercharges its tools and technologies for developers to foster creativity, innovation, and design

    Access to the on-device Apple Intelligence model, large language model integration in Xcode, and an elegant new software design across Apple platforms give developers everything they need to build beautiful modern apps with speed and confidence

    CUPERTINO, CALIFORNIA Apple today announced new technologies and enhancements to its developer tools to help developers create more beautiful, intelligent, and engaging app experiences across Apple platforms. A beautiful new software design brings more focus to content, and delivers more expressive and delightful experiences across iOS 26, iPadOS 26, macOS Tahoe 26, watchOS 26, and tvOS 26,1 while keeping them all instantly familiar. The Foundation Models framework joins a suite of tools that allow developers to tap into on-device intelligence, and Xcode 26 leverages large language models like ChatGPT, giving them access to Xcode’s Coding Tools and other intelligent features.

    These new resources join the extensive and continuously evolving set of technologies Apple offers developers, including over 250,000 APIs that enable developers to integrate their apps with Apple’s hardware and software features. These APIs span a wide range of capabilities, such as machine learning, augmented reality, health and fitness, spatial computing, and high-performance graphics. With each platform release, Apple expands and refines its technologies and tools to assist developers in bringing their ideas to life and delivering rich, responsive, and optimized experiences across Apple platforms.

    “Developers play a vital role in shaping the experiences customers love across Apple platforms,” said Susan Prescott, Apple’s vice president of Worldwide Developer Relations. “With access to the on-device Apple Intelligence foundation model and new intelligence features in Xcode 26, we’re empowering developers to build richer, more intuitive apps for users everywhere.”

    New Design with Liquid Glass

    The elegant new design gives developers the opportunity to make their apps more expressive and delightful, while being instantly familiar. It’s crafted with a new software-based material called Liquid Glass, which combines the optical qualities of glass with a sense of fluidity. This gorgeous new material extends from the smallest elements users interact with every day — like buttons, switches, sliders, text, and media controls — to larger elements, including tab bars and sidebars for navigating apps.

    Native frameworks like SwiftUI give developers everything they need to adopt the new design in their apps. The universal design allows developers to bring greater focus to their users’ content, establishing a consistent experience when developing across Apple’s platforms.

    With the all-new Icon Composer app, developers and designers are empowered to create visually captivating app icons that enhance their app’s identity. This powerful tool helps create a consistent visual identity for app icons by annotating layers for multiple rendering modes, with advanced features that include blurring, adjusting translucency, testing specular highlights, and previewing icons in various tints.

    Foundation Models Framework

    With the Foundation Models framework, developers will be able to build on Apple Intelligence to bring users new experiences that are intelligent, available when they’re offline, and that protect their privacy, using AI inference that is free of cost.

    The framework has native support for Swift, so developers can easily access the Apple Intelligence model with as few as three lines of code. Guided generation, tool calling, and more are all built into the framework, making it easier than ever to implement generative capabilities right into an existing app. For example, Automattic is using the framework in its Day One journaling app to bring users privacy-centric intelligence features.

    “The Foundation Model framework has helped us rethink what’s possible with journaling,” said Paul Mayne, head of Day One at Automattic. “Now we can bring intelligence and privacy together in ways that deeply respect our users.”

    Xcode 26

    Xcode 26 is packed with intelligence features and experiences to help developers make their ideas a reality.

    Developers can connect large language models directly into their coding experience to write code, tests, and documentation; iterate on a design; fix errors; and more. Xcode has built-in support for ChatGPT, and developers can use API keys from other providers, or run local models on their Mac with Apple silicon, to choose the model that best suits their needs. Developers can start using ChatGPT in Xcode without needing to create an account, and subscribers can connect their accounts to access more requests.2

    Coding Tools help developers stay in the flow and be more productive in their tasks. Accessible from anywhere in a developer’s code, Coding Tools provide suggested actions like generating a preview or a playground, or fixing an issue, and can also handle specific prompts for other tasks right inline.

    Xcode 26 comes with additional features to keep developers focused and productive, like a redesigned navigation experience, improvements to the localization catalog, and improved support for Voice Control to dictate Swift code and navigate the Xcode interface entirely by voice.

    App Intents

    App Intents lets developers deeply integrate their app’s actions and content with system experiences across platforms, including Siri, Spotlight, widgets, controls, and more.

    This year, App Intents gains support for visual intelligence. This enables apps to provide visual search results within the visual intelligence experience, allowing users to go directly into the app from those results. For instance, Etsy is leveraging visual intelligence to enhance the user experience in its iOS app by facilitating faster and more intuitive discovery of goods and products.

    “At Etsy, our job is to seamlessly connect shoppers with creative entrepreneurs around the world who offer extraordinary items — many of which are hard to describe. The ability to meet shoppers right on their iPhone with visual intelligence is a meaningful unlock, and makes it easier than ever for buyers to quickly discover exactly what they’re looking for while directly supporting small businesses,” said Etsy CTO Rafe Colburn.

    Swift 6.2

    Swift 6.2 introduces powerful features to enhance performance, concurrency, and interoperability with other languages like C++, Java, and JavaScript. And now, in collaboration with the open-source community, Swift 6.2 gains support for WebAssembly.

    Building upon Swift 6’s strict concurrency checking, Swift 6.2 simplifies writing single-threaded code. Developers can now configure modules or individual files to run on the main actor by default, eliminating the need for additional annotations.

    Containerization Framework

    The Containerization framework enables developers to create, download, or run Linux container images directly on Mac. It’s built on an open-source framework optimized for Apple silicon and provides secure isolation between container images.

    Tools and Resources for Games

    Game Porting Toolkit 3 provides developers with updated tools for evaluating and profiling their game. Developers can now customize the Metal Performance HUD, and get onscreen insights and guidance for optimizing graphics code for the best possible performance in the evaluation environment. And developers can use Mac Remote Developer Tools for Windows to build Mac games on a remote Mac in their existing development workflows.

    Metal 4 is designed exclusively for Apple silicon, and sets the stage for the next generation of games on Apple platforms with support for advanced graphics and machine learning technologies.

    Developers can now run inference networks directly in their shaders to compute lighting, materials, and geometry, enabling highly realistic visual effects for their games. MetalFX Frame Interpolation generates an intermediate frame for every two input frames to achieve higher and more stable frame rates, and MetalFX Denoising makes real-time ray tracing and path tracing possible in the most advanced games.

    The Apple Games app gives players a new all-in-one destination for all of their games and the friends they play them with on iPhone, iPad, and Mac. It also introduces a new dedicated app for developers to reengage their existing players and attract new ones.

    Challenges give players a new way to compete with friends in score-based showdowns, turning single-player games into shared experiences. Developers that have Game Center leaderboards for their games can easily add challenges, offering players even more ways to rally a group, crown a winner, and have a rematch.

    Game Overlay enhances in-game engagement by integrating Game Center features directly into gameplay. Players can access their next achievement and recent scores, and see which friends are currently playing, making it easy to start a chat — all without leaving the game. Players can also adjust settings and view the latest In-App Events, keeping them connected and in control without breaking immersion.

    Managed Background Assets simplifies asset hosting for developers, giving them control over how their app or game downloads assets. Developers can self-host or opt for Apple-Hosted Background Assets, where Apple handles hosting. Every Apple Developer Program membership includes 200GB of Apple hosting capacity for the App Store. Apple-Hosted Background Assets can be submitted separately from an app build.

    Tools to Help Protect Kids Online

    To ensure kids have enjoyable, enriching, and appropriate in-app experiences, developers can utilize a range of tools — including parental controls and the Sensitive Content Analysis framework — to enhance child safety and ensure privacy. Building on these existing tools, developers can use the new Declared Age Range API to deliver age-appropriate content based on a user’s age range. When developers implement this API, parents can allow their children to share their age range without disclosing a birthdate or other sensitive information, enabling developers to tailor experiences accordingly. The feature is built around privacy: Age range data is shared only if parents choose to allow it, and they can disable sharing at any time.

    New App Store Accessibility and App Store Connect Features

    New Accessibility Nutrition Labels for App Store product pages help users learn which accessibility features are supported before they download an app or game.

    Developers can now share information in App Store Connect about their app or game’s support, such as whether it includes VoiceOver, Voice Control, Larger Text, Captions, and more. An Accessibility Nutrition Label will appear on their app’s product page, specific to each platform it supports. Developers can also add a URL on their app’s App Store product page that links users to a website with more details.

    The App Store Connect app on iOS and iPadOS has been updated to let developers view TestFlight screenshots and crash feedback, in addition to receiving push notifications when beta testers provide feedback. The App Store Connect API supports these enhancements, and introduces the ability for developers to create webhooks to get real-time updates, and support for Apple-Hosted Background Assets and Game Center configuration.

    Availability

    Today’s updates join the ever-expanding collection of intelligent and powerful tools and technologies Apple provides to developers. The Apple Intelligence features detailed require supported devices, which include all iPhone 16 models, iPhone 15 Pro, iPhone 15 Pro Max, iPad mini (A17 Pro), and iPad and Mac models with M1 and later that have Apple Intelligence enabled and Siri and device language set to the same supported language: English, French, German, Italian, Portuguese (Brazil), Spanish, Japanese, Korean, or Chinese (simplified). More languages will be coming by the end of this year: Danish, Dutch, Norwegian, Portuguese (Portugal), Swedish, Turkish, Chinese (traditional), and Vietnamese. For more information, visit apple.com/apple-intelligence. Features are subject to change. Some features may not be available in all languages or regions, and availability may vary due to local laws and regulations. For more information about availability, visit apple.com.

    All of these features are available for testing starting today through the Apple Developer Program at developer.apple.com, and a public beta will be available through the Apple Beta Software Program next month at beta.apple.com.

    About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

    1. Available on Apple TV 4K (2nd generation and later).
    2. ChatGPT’s data-use policies apply. For more information, see openai.com/policies/usage-policies.

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    Apple

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