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Category: AM-NC

  • BIMSTEC Maritime Transport Pact poised to transform Bay of Bengal into global trade and tourism hub: Sarbananda Sonowal

    Source: Government of India

    Source: Government of India (4)

    Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal on Monday inaugurated the second edition of the BIMSTEC Ports Conclave in Visakhapatnam, outlining a bold and collaborative vision to transform the Bay of Bengal into a vibrant hub of global trade, cruise tourism, and sustainable development.

    The two-day conclave, attended by representatives from all seven BIMSTEC nations—Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand—brought together policymakers, port authorities, maritime experts, private stakeholders, and academics to chart a shared maritime future for the region.

    Sonowal described the BIMSTEC Ports Conclave as a “springboard” for unlocking the potential of the Blue Economy. He emphasized that under Prime Minister Narendra Modi’s “Neighbourhood First” policy, BIMSTEC nations are key partners in driving regional prosperity. He called for deeper collaboration in port-led industrialisation, digital integration, and skill development, aiming to create a seamless and efficient port network that can act as an engine of growth for the entire region.

    The conclave builds upon the momentum of the first BIMSTEC Ports Conclave and aims to operationalise the BIMSTEC Agreement on Maritime Transport Cooperation (AMTC), which India was the first to ratify. Sonowal urged all member states to expedite its ratification and implementation.

    A major announcement at the event was the establishment of a BIMSTEC Sustainable Maritime Transport Centre in Powai, Mumbai. This centre, to be set up under the Indian Ocean Centre of Excellence for Sustainable Maritime Transport (IOCE-SMarT), will be key to operationalising the AMTC agreement. Sonowal noted that the centre will drive harmonisation of maritime policies, promote green and digital transformations, reduce trade costs, and strengthen maritime skill development across the region.

    The conclave featured two major sessions that shaped the roadmap for BIMSTEC’s maritime future. The first session focused on increasing private sector participation and public-private partnerships (PPPs) to modernize port infrastructure and improve regional coordination. It also proposed the creation of a regional PPP facilitation platform and the harmonisation of port-related laws.

    The second session explored the region’s potential in capturing new manufacturing opportunities created by shifting global supply chains. Discussions included establishing hubs in shipbuilding, electronics, logistics, and renewable energy sectors. Both sessions highlighted the importance of coordinated strategies, improved regional connectivity, and policy reforms in positioning the Bay of Bengal as a resilient trade and industry corridor.

    Union Minister of State for Ports, Shipping and Waterways, Shantanu Thakur, also addressed the conclave. He highlighted India’s leadership in promoting seamless regional connectivity through harmonised maritime transport policies, digital logistics platforms, private investment, and a strong emphasis on skill development and green innovation.

    Conclave discussions focused on operationalising the AMTC agreement, streamlining customs and logistics, and expanding cruise tourism through PPP models and joint branding strategies. Delegates proposed initiatives such as port-linked industrial zones, a regional Port Community System, multimodal logistics parks, and the development of Special Economic Zones (SEZs) to improve hinterland connectivity. Emphasis was also placed on cross-border training programmes, industry-academia collaboration, and innovation in green shipping as essential components for the region’s sustainable future.

    Speaking about the strategic Kaladan Multi-Modal Transit Transport Project, Sonowal highlighted its role as a transformative initiative connecting India’s Northeast to the Bay of Bengal. He said that under the Act East Policy, Kaladan serves not only as a bilateral initiative with Myanmar but also as a model for regional integration under BIMSTEC. The project, he added, has the potential to significantly reduce trade costs, improve transit efficiency, and open new economic opportunities for India’s Northeast while fostering closer ties with neighbouring countries.

  • BIMSTEC Maritime Transport Pact poised to transform Bay of Bengal into global trade and tourism hub: Sarbananda Sonowal

    Source: Government of India

    Source: Government of India (4)

    Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal on Monday inaugurated the second edition of the BIMSTEC Ports Conclave in Visakhapatnam, outlining a bold and collaborative vision to transform the Bay of Bengal into a vibrant hub of global trade, cruise tourism, and sustainable development.

    The two-day conclave, attended by representatives from all seven BIMSTEC nations—Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand—brought together policymakers, port authorities, maritime experts, private stakeholders, and academics to chart a shared maritime future for the region.

    Sonowal described the BIMSTEC Ports Conclave as a “springboard” for unlocking the potential of the Blue Economy. He emphasized that under Prime Minister Narendra Modi’s “Neighbourhood First” policy, BIMSTEC nations are key partners in driving regional prosperity. He called for deeper collaboration in port-led industrialisation, digital integration, and skill development, aiming to create a seamless and efficient port network that can act as an engine of growth for the entire region.

    The conclave builds upon the momentum of the first BIMSTEC Ports Conclave and aims to operationalise the BIMSTEC Agreement on Maritime Transport Cooperation (AMTC), which India was the first to ratify. Sonowal urged all member states to expedite its ratification and implementation.

    A major announcement at the event was the establishment of a BIMSTEC Sustainable Maritime Transport Centre in Powai, Mumbai. This centre, to be set up under the Indian Ocean Centre of Excellence for Sustainable Maritime Transport (IOCE-SMarT), will be key to operationalising the AMTC agreement. Sonowal noted that the centre will drive harmonisation of maritime policies, promote green and digital transformations, reduce trade costs, and strengthen maritime skill development across the region.

    The conclave featured two major sessions that shaped the roadmap for BIMSTEC’s maritime future. The first session focused on increasing private sector participation and public-private partnerships (PPPs) to modernize port infrastructure and improve regional coordination. It also proposed the creation of a regional PPP facilitation platform and the harmonisation of port-related laws.

    The second session explored the region’s potential in capturing new manufacturing opportunities created by shifting global supply chains. Discussions included establishing hubs in shipbuilding, electronics, logistics, and renewable energy sectors. Both sessions highlighted the importance of coordinated strategies, improved regional connectivity, and policy reforms in positioning the Bay of Bengal as a resilient trade and industry corridor.

    Union Minister of State for Ports, Shipping and Waterways, Shantanu Thakur, also addressed the conclave. He highlighted India’s leadership in promoting seamless regional connectivity through harmonised maritime transport policies, digital logistics platforms, private investment, and a strong emphasis on skill development and green innovation.

    Conclave discussions focused on operationalising the AMTC agreement, streamlining customs and logistics, and expanding cruise tourism through PPP models and joint branding strategies. Delegates proposed initiatives such as port-linked industrial zones, a regional Port Community System, multimodal logistics parks, and the development of Special Economic Zones (SEZs) to improve hinterland connectivity. Emphasis was also placed on cross-border training programmes, industry-academia collaboration, and innovation in green shipping as essential components for the region’s sustainable future.

    Speaking about the strategic Kaladan Multi-Modal Transit Transport Project, Sonowal highlighted its role as a transformative initiative connecting India’s Northeast to the Bay of Bengal. He said that under the Act East Policy, Kaladan serves not only as a bilateral initiative with Myanmar but also as a model for regional integration under BIMSTEC. The project, he added, has the potential to significantly reduce trade costs, improve transit efficiency, and open new economic opportunities for India’s Northeast while fostering closer ties with neighbouring countries.

  • Australia PM Albanese to discuss trade, security in meeting with China’s Xi Jinping

    Source: Government of India

    Source: Government of India (4)

    Australian Prime Minister Anthony Albanese is expected to meet with Chinese President Xi Jinping and Premier Li Qiang in Beijing on Tuesday, where he said resources trade, energy transition and security tensions are key topics for discussion.

    Albanese is due to meet Xi ahead of an annual leaders dialogue with Li, and later attend a business roundtable at the Great Hall of the People.

    Albanese said on Monday he looked forward to a “constructive dialogue” with the Chinese leaders.

    Australia, which regards the United States its major security ally, has pursued a China policy of “cooperate where we can, disagree where we must” under Albanese.

    Australia has expressed concern at China’s military build-up and the jailing of an Australian writer, while Beijing has criticised Canberra’s increased screening of foreign investment in critical minerals and Albanese’s pledge to return a Chinese-leased port to Australian ownership.

    Chinese state media outlet Xinhua said the relationship between the two countries, which have complementary economies, was steadily improving.

    Australia’s exports to China, its largest trading partner, span agriculture and energy but are dominated by iron ore, and Albanese has traveled with executives from mining giants Rio Tinto RIO.AX, BHP BHP.AX, and Fortescue FMG.AX, who met with Chinese steel industry officials on Monday, as part of a six-day visit.

    Bran Black, CEO of the Business Council of Australia, said Australia’s Bluescope Steel BSL.AX will also be at Tuesday’s business roundtable, along with China’s electric vehicle giant BYD 002594.SZ, Chinese banking executives, Baosteel and COFCO.

    “First and foremost we use fixtures such as this to send a signal that business-to-business engagement should be welcomed and encouraged,” Black told Reuters on Tuesday.

    (Reuters)

  • Australia PM Albanese to discuss trade, security in meeting with China’s Xi Jinping

    Source: Government of India

    Source: Government of India (4)

    Australian Prime Minister Anthony Albanese is expected to meet with Chinese President Xi Jinping and Premier Li Qiang in Beijing on Tuesday, where he said resources trade, energy transition and security tensions are key topics for discussion.

    Albanese is due to meet Xi ahead of an annual leaders dialogue with Li, and later attend a business roundtable at the Great Hall of the People.

    Albanese said on Monday he looked forward to a “constructive dialogue” with the Chinese leaders.

    Australia, which regards the United States its major security ally, has pursued a China policy of “cooperate where we can, disagree where we must” under Albanese.

    Australia has expressed concern at China’s military build-up and the jailing of an Australian writer, while Beijing has criticised Canberra’s increased screening of foreign investment in critical minerals and Albanese’s pledge to return a Chinese-leased port to Australian ownership.

    Chinese state media outlet Xinhua said the relationship between the two countries, which have complementary economies, was steadily improving.

    Australia’s exports to China, its largest trading partner, span agriculture and energy but are dominated by iron ore, and Albanese has traveled with executives from mining giants Rio Tinto RIO.AX, BHP BHP.AX, and Fortescue FMG.AX, who met with Chinese steel industry officials on Monday, as part of a six-day visit.

    Bran Black, CEO of the Business Council of Australia, said Australia’s Bluescope Steel BSL.AX will also be at Tuesday’s business roundtable, along with China’s electric vehicle giant BYD 002594.SZ, Chinese banking executives, Baosteel and COFCO.

    “First and foremost we use fixtures such as this to send a signal that business-to-business engagement should be welcomed and encouraged,” Black told Reuters on Tuesday.

    (Reuters)

  • Australia PM Albanese to discuss trade, security in meeting with China’s Xi Jinping

    Source: Government of India

    Source: Government of India (4)

    Australian Prime Minister Anthony Albanese is expected to meet with Chinese President Xi Jinping and Premier Li Qiang in Beijing on Tuesday, where he said resources trade, energy transition and security tensions are key topics for discussion.

    Albanese is due to meet Xi ahead of an annual leaders dialogue with Li, and later attend a business roundtable at the Great Hall of the People.

    Albanese said on Monday he looked forward to a “constructive dialogue” with the Chinese leaders.

    Australia, which regards the United States its major security ally, has pursued a China policy of “cooperate where we can, disagree where we must” under Albanese.

    Australia has expressed concern at China’s military build-up and the jailing of an Australian writer, while Beijing has criticised Canberra’s increased screening of foreign investment in critical minerals and Albanese’s pledge to return a Chinese-leased port to Australian ownership.

    Chinese state media outlet Xinhua said the relationship between the two countries, which have complementary economies, was steadily improving.

    Australia’s exports to China, its largest trading partner, span agriculture and energy but are dominated by iron ore, and Albanese has traveled with executives from mining giants Rio Tinto RIO.AX, BHP BHP.AX, and Fortescue FMG.AX, who met with Chinese steel industry officials on Monday, as part of a six-day visit.

    Bran Black, CEO of the Business Council of Australia, said Australia’s Bluescope Steel BSL.AX will also be at Tuesday’s business roundtable, along with China’s electric vehicle giant BYD 002594.SZ, Chinese banking executives, Baosteel and COFCO.

    “First and foremost we use fixtures such as this to send a signal that business-to-business engagement should be welcomed and encouraged,” Black told Reuters on Tuesday.

    (Reuters)

  • Australia PM Albanese to discuss trade, security in meeting with China’s Xi Jinping

    Source: Government of India

    Source: Government of India (4)

    Australian Prime Minister Anthony Albanese is expected to meet with Chinese President Xi Jinping and Premier Li Qiang in Beijing on Tuesday, where he said resources trade, energy transition and security tensions are key topics for discussion.

    Albanese is due to meet Xi ahead of an annual leaders dialogue with Li, and later attend a business roundtable at the Great Hall of the People.

    Albanese said on Monday he looked forward to a “constructive dialogue” with the Chinese leaders.

    Australia, which regards the United States its major security ally, has pursued a China policy of “cooperate where we can, disagree where we must” under Albanese.

    Australia has expressed concern at China’s military build-up and the jailing of an Australian writer, while Beijing has criticised Canberra’s increased screening of foreign investment in critical minerals and Albanese’s pledge to return a Chinese-leased port to Australian ownership.

    Chinese state media outlet Xinhua said the relationship between the two countries, which have complementary economies, was steadily improving.

    Australia’s exports to China, its largest trading partner, span agriculture and energy but are dominated by iron ore, and Albanese has traveled with executives from mining giants Rio Tinto RIO.AX, BHP BHP.AX, and Fortescue FMG.AX, who met with Chinese steel industry officials on Monday, as part of a six-day visit.

    Bran Black, CEO of the Business Council of Australia, said Australia’s Bluescope Steel BSL.AX will also be at Tuesday’s business roundtable, along with China’s electric vehicle giant BYD 002594.SZ, Chinese banking executives, Baosteel and COFCO.

    “First and foremost we use fixtures such as this to send a signal that business-to-business engagement should be welcomed and encouraged,” Black told Reuters on Tuesday.

    (Reuters)

  • Australia PM Albanese to discuss trade, security in meeting with China’s Xi Jinping

    Source: Government of India

    Source: Government of India (4)

    Australian Prime Minister Anthony Albanese is expected to meet with Chinese President Xi Jinping and Premier Li Qiang in Beijing on Tuesday, where he said resources trade, energy transition and security tensions are key topics for discussion.

    Albanese is due to meet Xi ahead of an annual leaders dialogue with Li, and later attend a business roundtable at the Great Hall of the People.

    Albanese said on Monday he looked forward to a “constructive dialogue” with the Chinese leaders.

    Australia, which regards the United States its major security ally, has pursued a China policy of “cooperate where we can, disagree where we must” under Albanese.

    Australia has expressed concern at China’s military build-up and the jailing of an Australian writer, while Beijing has criticised Canberra’s increased screening of foreign investment in critical minerals and Albanese’s pledge to return a Chinese-leased port to Australian ownership.

    Chinese state media outlet Xinhua said the relationship between the two countries, which have complementary economies, was steadily improving.

    Australia’s exports to China, its largest trading partner, span agriculture and energy but are dominated by iron ore, and Albanese has traveled with executives from mining giants Rio Tinto RIO.AX, BHP BHP.AX, and Fortescue FMG.AX, who met with Chinese steel industry officials on Monday, as part of a six-day visit.

    Bran Black, CEO of the Business Council of Australia, said Australia’s Bluescope Steel BSL.AX will also be at Tuesday’s business roundtable, along with China’s electric vehicle giant BYD 002594.SZ, Chinese banking executives, Baosteel and COFCO.

    “First and foremost we use fixtures such as this to send a signal that business-to-business engagement should be welcomed and encouraged,” Black told Reuters on Tuesday.

    (Reuters)

  • Australia PM Albanese to discuss trade, security in meeting with China’s Xi Jinping

    Source: Government of India

    Source: Government of India (4)

    Australian Prime Minister Anthony Albanese is expected to meet with Chinese President Xi Jinping and Premier Li Qiang in Beijing on Tuesday, where he said resources trade, energy transition and security tensions are key topics for discussion.

    Albanese is due to meet Xi ahead of an annual leaders dialogue with Li, and later attend a business roundtable at the Great Hall of the People.

    Albanese said on Monday he looked forward to a “constructive dialogue” with the Chinese leaders.

    Australia, which regards the United States its major security ally, has pursued a China policy of “cooperate where we can, disagree where we must” under Albanese.

    Australia has expressed concern at China’s military build-up and the jailing of an Australian writer, while Beijing has criticised Canberra’s increased screening of foreign investment in critical minerals and Albanese’s pledge to return a Chinese-leased port to Australian ownership.

    Chinese state media outlet Xinhua said the relationship between the two countries, which have complementary economies, was steadily improving.

    Australia’s exports to China, its largest trading partner, span agriculture and energy but are dominated by iron ore, and Albanese has traveled with executives from mining giants Rio Tinto RIO.AX, BHP BHP.AX, and Fortescue FMG.AX, who met with Chinese steel industry officials on Monday, as part of a six-day visit.

    Bran Black, CEO of the Business Council of Australia, said Australia’s Bluescope Steel BSL.AX will also be at Tuesday’s business roundtable, along with China’s electric vehicle giant BYD 002594.SZ, Chinese banking executives, Baosteel and COFCO.

    “First and foremost we use fixtures such as this to send a signal that business-to-business engagement should be welcomed and encouraged,” Black told Reuters on Tuesday.

    (Reuters)

  • Australia PM Albanese to discuss trade, security in meeting with China’s Xi Jinping

    Source: Government of India

    Source: Government of India (4)

    Australian Prime Minister Anthony Albanese is expected to meet with Chinese President Xi Jinping and Premier Li Qiang in Beijing on Tuesday, where he said resources trade, energy transition and security tensions are key topics for discussion.

    Albanese is due to meet Xi ahead of an annual leaders dialogue with Li, and later attend a business roundtable at the Great Hall of the People.

    Albanese said on Monday he looked forward to a “constructive dialogue” with the Chinese leaders.

    Australia, which regards the United States its major security ally, has pursued a China policy of “cooperate where we can, disagree where we must” under Albanese.

    Australia has expressed concern at China’s military build-up and the jailing of an Australian writer, while Beijing has criticised Canberra’s increased screening of foreign investment in critical minerals and Albanese’s pledge to return a Chinese-leased port to Australian ownership.

    Chinese state media outlet Xinhua said the relationship between the two countries, which have complementary economies, was steadily improving.

    Australia’s exports to China, its largest trading partner, span agriculture and energy but are dominated by iron ore, and Albanese has traveled with executives from mining giants Rio Tinto RIO.AX, BHP BHP.AX, and Fortescue FMG.AX, who met with Chinese steel industry officials on Monday, as part of a six-day visit.

    Bran Black, CEO of the Business Council of Australia, said Australia’s Bluescope Steel BSL.AX will also be at Tuesday’s business roundtable, along with China’s electric vehicle giant BYD 002594.SZ, Chinese banking executives, Baosteel and COFCO.

    “First and foremost we use fixtures such as this to send a signal that business-to-business engagement should be welcomed and encouraged,” Black told Reuters on Tuesday.

    (Reuters)

  • Trump sued by US states over withholding $6.8 billion for schools

    Source: Government of India

    Source: Government of India (4)

    A coalition of mostly Democratic-led states filed a lawsuit on Monday challenging a move by U.S. President Donald Trump’s administration to withhold about $6.8 billion in congressionally approved federal funding for K-12 schools.

    Attorneys general or governors from 24 states and the District of Columbia sued in federal court in Providence, Rhode Island, arguing that the U.S. Department of Education and the Office of Management and Budget threw schools nationwide into chaos by unconstitutionally freezing funding for six programs approved by Congress.

    The freeze extended to funding used to support the education of migrant farm workers and their children; recruitment and training of teachers; English proficiency learning; academic enrichment; and after-school and summer programs.

    The administration also froze funding used to support adult literacy and job-readiness skills.

    The government was legally required to release the money to the states by July 1, the lawsuit said. Instead, the Education Department notified states on June 30 that it would not be issuing grant awards under those programs by that deadline. It cited the change in administration as its reason.

    An OMB spokesperson at the time cited an “ongoing programmatic review” of education funding and said initial findings showed what he termed as a misuse of grant funds to “subsidize a radical leftwing agenda.”

    OMB also raised objections to the use of the grant money to support scholarships for immigrant students and lessons that involved LGBTQ themes.

    The Democratic-led states said the sweeping funding freeze has disrupted school systems, resulting in summer school and after-school programs being canceled or put at risk and the halting of other initiatives with little time for school districts to fill in the holes left in their budgets.

    The states say the administration violated the U.S. Constitution by disregarding Congress’ sole authority over spending and ran afoul of federal administrative law by freezing the funds without any reasoned explanation.

    The states also say the administration failed to abide by procedures of the Impoundment Control Act, which bars the executive branch from unilaterally refusing to spend funds appropriated by Congress unless certain steps are followed.

    The lawsuit follows a series of other cases Democratic-led states and others have filed challenging the administration’s sweeping efforts to freeze or terminate federal funding for programs out of line with Trump’s agenda.

    (Reuters)

  • Trump sued by US states over withholding $6.8 billion for schools

    Source: Government of India

    Source: Government of India (4)

    A coalition of mostly Democratic-led states filed a lawsuit on Monday challenging a move by U.S. President Donald Trump’s administration to withhold about $6.8 billion in congressionally approved federal funding for K-12 schools.

    Attorneys general or governors from 24 states and the District of Columbia sued in federal court in Providence, Rhode Island, arguing that the U.S. Department of Education and the Office of Management and Budget threw schools nationwide into chaos by unconstitutionally freezing funding for six programs approved by Congress.

    The freeze extended to funding used to support the education of migrant farm workers and their children; recruitment and training of teachers; English proficiency learning; academic enrichment; and after-school and summer programs.

    The administration also froze funding used to support adult literacy and job-readiness skills.

    The government was legally required to release the money to the states by July 1, the lawsuit said. Instead, the Education Department notified states on June 30 that it would not be issuing grant awards under those programs by that deadline. It cited the change in administration as its reason.

    An OMB spokesperson at the time cited an “ongoing programmatic review” of education funding and said initial findings showed what he termed as a misuse of grant funds to “subsidize a radical leftwing agenda.”

    OMB also raised objections to the use of the grant money to support scholarships for immigrant students and lessons that involved LGBTQ themes.

    The Democratic-led states said the sweeping funding freeze has disrupted school systems, resulting in summer school and after-school programs being canceled or put at risk and the halting of other initiatives with little time for school districts to fill in the holes left in their budgets.

    The states say the administration violated the U.S. Constitution by disregarding Congress’ sole authority over spending and ran afoul of federal administrative law by freezing the funds without any reasoned explanation.

    The states also say the administration failed to abide by procedures of the Impoundment Control Act, which bars the executive branch from unilaterally refusing to spend funds appropriated by Congress unless certain steps are followed.

    The lawsuit follows a series of other cases Democratic-led states and others have filed challenging the administration’s sweeping efforts to freeze or terminate federal funding for programs out of line with Trump’s agenda.

    (Reuters)

  • Trump sued by US states over withholding $6.8 billion for schools

    Source: Government of India

    Source: Government of India (4)

    A coalition of mostly Democratic-led states filed a lawsuit on Monday challenging a move by U.S. President Donald Trump’s administration to withhold about $6.8 billion in congressionally approved federal funding for K-12 schools.

    Attorneys general or governors from 24 states and the District of Columbia sued in federal court in Providence, Rhode Island, arguing that the U.S. Department of Education and the Office of Management and Budget threw schools nationwide into chaos by unconstitutionally freezing funding for six programs approved by Congress.

    The freeze extended to funding used to support the education of migrant farm workers and their children; recruitment and training of teachers; English proficiency learning; academic enrichment; and after-school and summer programs.

    The administration also froze funding used to support adult literacy and job-readiness skills.

    The government was legally required to release the money to the states by July 1, the lawsuit said. Instead, the Education Department notified states on June 30 that it would not be issuing grant awards under those programs by that deadline. It cited the change in administration as its reason.

    An OMB spokesperson at the time cited an “ongoing programmatic review” of education funding and said initial findings showed what he termed as a misuse of grant funds to “subsidize a radical leftwing agenda.”

    OMB also raised objections to the use of the grant money to support scholarships for immigrant students and lessons that involved LGBTQ themes.

    The Democratic-led states said the sweeping funding freeze has disrupted school systems, resulting in summer school and after-school programs being canceled or put at risk and the halting of other initiatives with little time for school districts to fill in the holes left in their budgets.

    The states say the administration violated the U.S. Constitution by disregarding Congress’ sole authority over spending and ran afoul of federal administrative law by freezing the funds without any reasoned explanation.

    The states also say the administration failed to abide by procedures of the Impoundment Control Act, which bars the executive branch from unilaterally refusing to spend funds appropriated by Congress unless certain steps are followed.

    The lawsuit follows a series of other cases Democratic-led states and others have filed challenging the administration’s sweeping efforts to freeze or terminate federal funding for programs out of line with Trump’s agenda.

    (Reuters)

  • Trump sued by US states over withholding $6.8 billion for schools

    Source: Government of India

    Source: Government of India (4)

    A coalition of mostly Democratic-led states filed a lawsuit on Monday challenging a move by U.S. President Donald Trump’s administration to withhold about $6.8 billion in congressionally approved federal funding for K-12 schools.

    Attorneys general or governors from 24 states and the District of Columbia sued in federal court in Providence, Rhode Island, arguing that the U.S. Department of Education and the Office of Management and Budget threw schools nationwide into chaos by unconstitutionally freezing funding for six programs approved by Congress.

    The freeze extended to funding used to support the education of migrant farm workers and their children; recruitment and training of teachers; English proficiency learning; academic enrichment; and after-school and summer programs.

    The administration also froze funding used to support adult literacy and job-readiness skills.

    The government was legally required to release the money to the states by July 1, the lawsuit said. Instead, the Education Department notified states on June 30 that it would not be issuing grant awards under those programs by that deadline. It cited the change in administration as its reason.

    An OMB spokesperson at the time cited an “ongoing programmatic review” of education funding and said initial findings showed what he termed as a misuse of grant funds to “subsidize a radical leftwing agenda.”

    OMB also raised objections to the use of the grant money to support scholarships for immigrant students and lessons that involved LGBTQ themes.

    The Democratic-led states said the sweeping funding freeze has disrupted school systems, resulting in summer school and after-school programs being canceled or put at risk and the halting of other initiatives with little time for school districts to fill in the holes left in their budgets.

    The states say the administration violated the U.S. Constitution by disregarding Congress’ sole authority over spending and ran afoul of federal administrative law by freezing the funds without any reasoned explanation.

    The states also say the administration failed to abide by procedures of the Impoundment Control Act, which bars the executive branch from unilaterally refusing to spend funds appropriated by Congress unless certain steps are followed.

    The lawsuit follows a series of other cases Democratic-led states and others have filed challenging the administration’s sweeping efforts to freeze or terminate federal funding for programs out of line with Trump’s agenda.

    (Reuters)

  • Trump sued by US states over withholding $6.8 billion for schools

    Source: Government of India

    Source: Government of India (4)

    A coalition of mostly Democratic-led states filed a lawsuit on Monday challenging a move by U.S. President Donald Trump’s administration to withhold about $6.8 billion in congressionally approved federal funding for K-12 schools.

    Attorneys general or governors from 24 states and the District of Columbia sued in federal court in Providence, Rhode Island, arguing that the U.S. Department of Education and the Office of Management and Budget threw schools nationwide into chaos by unconstitutionally freezing funding for six programs approved by Congress.

    The freeze extended to funding used to support the education of migrant farm workers and their children; recruitment and training of teachers; English proficiency learning; academic enrichment; and after-school and summer programs.

    The administration also froze funding used to support adult literacy and job-readiness skills.

    The government was legally required to release the money to the states by July 1, the lawsuit said. Instead, the Education Department notified states on June 30 that it would not be issuing grant awards under those programs by that deadline. It cited the change in administration as its reason.

    An OMB spokesperson at the time cited an “ongoing programmatic review” of education funding and said initial findings showed what he termed as a misuse of grant funds to “subsidize a radical leftwing agenda.”

    OMB also raised objections to the use of the grant money to support scholarships for immigrant students and lessons that involved LGBTQ themes.

    The Democratic-led states said the sweeping funding freeze has disrupted school systems, resulting in summer school and after-school programs being canceled or put at risk and the halting of other initiatives with little time for school districts to fill in the holes left in their budgets.

    The states say the administration violated the U.S. Constitution by disregarding Congress’ sole authority over spending and ran afoul of federal administrative law by freezing the funds without any reasoned explanation.

    The states also say the administration failed to abide by procedures of the Impoundment Control Act, which bars the executive branch from unilaterally refusing to spend funds appropriated by Congress unless certain steps are followed.

    The lawsuit follows a series of other cases Democratic-led states and others have filed challenging the administration’s sweeping efforts to freeze or terminate federal funding for programs out of line with Trump’s agenda.

    (Reuters)

  • Trump sued by US states over withholding $6.8 billion for schools

    Source: Government of India

    Source: Government of India (4)

    A coalition of mostly Democratic-led states filed a lawsuit on Monday challenging a move by U.S. President Donald Trump’s administration to withhold about $6.8 billion in congressionally approved federal funding for K-12 schools.

    Attorneys general or governors from 24 states and the District of Columbia sued in federal court in Providence, Rhode Island, arguing that the U.S. Department of Education and the Office of Management and Budget threw schools nationwide into chaos by unconstitutionally freezing funding for six programs approved by Congress.

    The freeze extended to funding used to support the education of migrant farm workers and their children; recruitment and training of teachers; English proficiency learning; academic enrichment; and after-school and summer programs.

    The administration also froze funding used to support adult literacy and job-readiness skills.

    The government was legally required to release the money to the states by July 1, the lawsuit said. Instead, the Education Department notified states on June 30 that it would not be issuing grant awards under those programs by that deadline. It cited the change in administration as its reason.

    An OMB spokesperson at the time cited an “ongoing programmatic review” of education funding and said initial findings showed what he termed as a misuse of grant funds to “subsidize a radical leftwing agenda.”

    OMB also raised objections to the use of the grant money to support scholarships for immigrant students and lessons that involved LGBTQ themes.

    The Democratic-led states said the sweeping funding freeze has disrupted school systems, resulting in summer school and after-school programs being canceled or put at risk and the halting of other initiatives with little time for school districts to fill in the holes left in their budgets.

    The states say the administration violated the U.S. Constitution by disregarding Congress’ sole authority over spending and ran afoul of federal administrative law by freezing the funds without any reasoned explanation.

    The states also say the administration failed to abide by procedures of the Impoundment Control Act, which bars the executive branch from unilaterally refusing to spend funds appropriated by Congress unless certain steps are followed.

    The lawsuit follows a series of other cases Democratic-led states and others have filed challenging the administration’s sweeping efforts to freeze or terminate federal funding for programs out of line with Trump’s agenda.

    (Reuters)

  • Trump sued by US states over withholding $6.8 billion for schools

    Source: Government of India

    Source: Government of India (4)

    A coalition of mostly Democratic-led states filed a lawsuit on Monday challenging a move by U.S. President Donald Trump’s administration to withhold about $6.8 billion in congressionally approved federal funding for K-12 schools.

    Attorneys general or governors from 24 states and the District of Columbia sued in federal court in Providence, Rhode Island, arguing that the U.S. Department of Education and the Office of Management and Budget threw schools nationwide into chaos by unconstitutionally freezing funding for six programs approved by Congress.

    The freeze extended to funding used to support the education of migrant farm workers and their children; recruitment and training of teachers; English proficiency learning; academic enrichment; and after-school and summer programs.

    The administration also froze funding used to support adult literacy and job-readiness skills.

    The government was legally required to release the money to the states by July 1, the lawsuit said. Instead, the Education Department notified states on June 30 that it would not be issuing grant awards under those programs by that deadline. It cited the change in administration as its reason.

    An OMB spokesperson at the time cited an “ongoing programmatic review” of education funding and said initial findings showed what he termed as a misuse of grant funds to “subsidize a radical leftwing agenda.”

    OMB also raised objections to the use of the grant money to support scholarships for immigrant students and lessons that involved LGBTQ themes.

    The Democratic-led states said the sweeping funding freeze has disrupted school systems, resulting in summer school and after-school programs being canceled or put at risk and the halting of other initiatives with little time for school districts to fill in the holes left in their budgets.

    The states say the administration violated the U.S. Constitution by disregarding Congress’ sole authority over spending and ran afoul of federal administrative law by freezing the funds without any reasoned explanation.

    The states also say the administration failed to abide by procedures of the Impoundment Control Act, which bars the executive branch from unilaterally refusing to spend funds appropriated by Congress unless certain steps are followed.

    The lawsuit follows a series of other cases Democratic-led states and others have filed challenging the administration’s sweeping efforts to freeze or terminate federal funding for programs out of line with Trump’s agenda.

    (Reuters)

  • Egypt says Israel-EU agreement has not increased aid to Gaza

    Source: Government of India

    Source: Government of India (4)

    Egypt’s foreign minister said on Monday that the flow of aid into Gaza has not increased despite an agreement last week between Israel and the European Union that should have had that result.

    “Nothing has changed (on the ground),” Egyptian Foreign Minister Badr Abdelatty told reporters ahead of the EU-Middle East meeting in Brussels on Monday.

    The EU’s top diplomat said on Thursday that the bloc and Israel agreed to improve Gaza’s humanitarian situation, including increasing the number of aid trucks and opening crossing points and aid routes.

    Asked what steps Israel has taken, Israeli Foreign Minister Gideon Saar referred to an understanding with the EU but did not provide details on implementation.

    Asked if there were improvements after the agreement, Jordanian Foreign Minister Ayman Safadi told reporters that the situation in Gaza remains “catastrophic”.

    “There is a real catastrophe happening in Gaza resulting from the continuation of the Israeli siege,” he said.

    Safadi said Israel allowed the entry of 40 to 50 trucks days ago from Jordan but that was “far from being sufficient” for the besieged enclave.

    EU’s foreign policy chief Kaja Kallas said ahead of Monday’s meeting that there have been some signs of progress on Gaza aid but not enough improvement on the ground.

    Israel’s continued military operations and blockade have left the entire population of 2.3 million people in Gaza facing acute food insecurity, with nearly half a million at risk of famine by the end of September, a joint United Nations report said last month.

    (Reuters)

  • Texas flood death toll rises to 131 as new storms loom

    Source: Government of India

    Source: Government of India (4)

    The official tally of storm-related deaths across Texas rose to 131 on Monday as authorities warned of yet another round of heavy rains 10 days after a Hill Country flash flood that transformed the Guadalupe River into a killer torrent.

    A National Weather Service flood watch forecasting heavy downpours of up to half a foot of rain was posted until Tuesday morning for a wide swath of central Texas extending from the Rio Grande east to San Antonio and Austin.

    The advisory included Kerr County and other parts of Texas Hill Country along the Guadalupe still recovering from the July 4 flood disaster, which ravaged the county seat of Kerrville and a riverside Christian summer camp for girls in the nearby town of Hunt.

    Riverfront residents as well as search teams still combing the banks of the waterway were advised to seek higher ground until the latest danger had passed. The search for additional victims along the Guadalupe was likewise suspended due to flood concerns on Sunday.

    Texas Governor Greg Abbott on Monday said storms had claimed at least 131 lives in Texas since July 4, the bulk of those deaths in and around Kerrville, up from 120 reported on Friday.

    He said 97 people were still listed as missing in the greater Kerrville area, down from the 160-plus who authorities said were unaccounted for last week.

    About a third of the Kerr County fatalities are children, most of whom perished at Camp Mystic when floodwaters raged through the girls-only summer retreat before dawn on July 4.

    Authorities have not rescued anyone alive since the day of the floods, when more than a foot of rain fell in less than an hour in the heart of a region known as “flash flood alley,” sending a deadly wall of water down the Guadalupe River basin.

    Abbott said state lawmakers would investigate the circumstances of the flooding, disaster preparedness and emergency response to the flooding at a special legislative session set to convene later this month.

    The high casualty toll, ranking as one of the deadliest U.S. flood events in decades, has raised questions about the lack of flash-flood warning sirens in Kerr County and vacancies left at National Weather Service offices amid staffing cuts under the Trump administration.

    (Reuters)

  • Boat capsizes off Indonesia’s Mentawai islands, 11 people missing

    Source: Government of India

    Source: Government of India (4)

    Indonesian rescuers were searching for 11 people missing after a boat capsized in bad weather off the Mentawai Islands in West Sumatra province, the local search and rescue agency said on Tuesday.

    Seven people had been rescued after the incident, which happened on Monday at around 11 a.m. (0400 GMT), the rescue agency said in a statement.

    Of 18 people on board, 10 were local government officials. The boat had departed Sikakap, a small town in the Mentawai Islands, and was heading to another small town, Tuapejat.

    Two boats and dozens of rescuers were deployed to find the missing people on Tuesday.

    Boats and ferries are a regular mode of transport in Indonesia, an archipelago of more than 17,000 islands, and accidents are relatively common due to bad weather as well as lax safety standards that often allow vessels to be overloaded.

    A ferry sank earlier this month near the island of Bali. Of the 65 people on board, 18 died, 30 survived and 17 remain missing.

    (Reuters)

  • Starc record as Australia bowl out Windies for 27 to win third test

    Source: Government of India

    Source: Government of India (4)

    Mitchell Starc delivered the fastest five-wicket haul in test history on Monday as Australia crushed the West Indies by 176 runs in the third test in Kingston, Jamaica to complete a 3-0 series sweep.

    In his 100th test, Starc took 15 balls to wreck the West Indies top order and leave the home side’s run chase in tatters, before returning for his sixth wicket after Scott Boland became Australia’s 10th bowler to take a test hat-trick.

    West Indies were bowled out for 27, the second-lowest total in test history after New Zealand’s 26 against England in 1955.

    Starc shattered the previous record for a “five-for” by four balls, surpassing Ernie Toshack (1947), Stuart Broad (2015) and Boland (2021), who needed 19 deliveries to achieve the feat.

    “You talk about 100 tests and skill and fitness … but I think today showed the real Mitchell Starc – what he can bring to a team. Which is, out of nowhere, tear an opposition apart and win a game for you,” said Australia captain Pat Cummins.

    The drama began on the first delivery of West Indies’ second innings, when Starc enticed John Campbell to nick an outswinger to wicketkeeper Josh Inglis.

    Debutant Kevlon Anderson shouldered arms to a ball that jagged back and struck his pad four balls later, before Brandon King edged on to his stumps as the hosts found themselves three wickets down with no runs on the board.

    Starc, named player-of-the-match and series, then trapped Mikyle Louis lbw to become the fourth Australian to reach 400 test wickets alongside Shane Warne, Glenn McGrath and Nathan Lyon.

    Two balls later, he trapped Shai Hope lbw and finished with figures of 6-9.

    At tea, the West Indies stood at a precarious 22-6, needing 182 runs for victory and staring down the barrel of cricket’s ultimate embarrassment, with five runs needed to avoid the lowest-ever total.

    And the drama was far from over.

    Boland dismissed Justin Greaves, Shamar Joseph and Jomel Warrican to claim a hat-trick that left West Indies at 26-9, level with New Zealand’s record.

    “He is amazing, isn’t he?” Starc said of 36-year-old Boland, who has 62 wickets from 14 tests at an average of 16.53.

    “He would have played so many more tests in another team.”

    In the end, it was a narrow escape for West Indies as they added another run before Starc returned to bowl Jayden Seales.

    Earlier, Australia were dismissed for 121, their lowest score against West Indies in 30 years, with Alzarri Joseph completing career-best figures of 5-27 and Shamar Joseph 4-34.

    That was little consolation for West Indies captain Roston Chase, who said being bowled out for less than 30 was “quite embarrassing.”

    “Obviously we’ve been putting ourselves in positions to win games and then we (are) just laying down and not putting up a fight in the last batting innings,” he said.

    “It’s quite heartbreaking, because I think we did it in all three tests, and we’re not really learning from our mistakes.”

    (Reuters)

  • Tense exchanges made Lord’s test more exciting, says Shubman Gill

    Source: Government of India

    Source: Government of India (4)

    Heated exchanges between England and India players made the Lord’s test more exciting and challenging, India captain Shubman Gill said after England took a 2-1 lead in the series with a dramatic 22-run win on Monday.

    Tension flared between the teams during the intense third test, with Gill sarcastically clapping England batters for unnecessary delays, and India fast bowler Mohammed Siraj roaring in the face of England opener Ben Duckett after taking his wicket.

    Siraj was fined 15% of his match fee for his aggressive behaviour.

    “You’re giving everything, mentally, physically. There would be times when there would be a little bit of heat from both sides. But I think that’s what makes it so exciting, more challenging,” Gill told a news conference.

    “At the end of the day, there’s a lot of admiration within the two teams. Both the teams try their best to win.”

    Gill said staying calm under pressure would be crucial going forward in the five-match series.

    “The longer the match goes, shows how well both the teams are balanced. It’s just a matter of which team keeps their calm and composure longer,” he said.

    The fourth test in Manchester starts on July 23.

    (Reuters)

     

  • Tense exchanges made Lord’s test more exciting, says Shubman Gill

    Source: Government of India

    Source: Government of India (4)

    Heated exchanges between England and India players made the Lord’s test more exciting and challenging, India captain Shubman Gill said after England took a 2-1 lead in the series with a dramatic 22-run win on Monday.

    Tension flared between the teams during the intense third test, with Gill sarcastically clapping England batters for unnecessary delays, and India fast bowler Mohammed Siraj roaring in the face of England opener Ben Duckett after taking his wicket.

    Siraj was fined 15% of his match fee for his aggressive behaviour.

    “You’re giving everything, mentally, physically. There would be times when there would be a little bit of heat from both sides. But I think that’s what makes it so exciting, more challenging,” Gill told a news conference.

    “At the end of the day, there’s a lot of admiration within the two teams. Both the teams try their best to win.”

    Gill said staying calm under pressure would be crucial going forward in the five-match series.

    “The longer the match goes, shows how well both the teams are balanced. It’s just a matter of which team keeps their calm and composure longer,” he said.

    The fourth test in Manchester starts on July 23.

    (Reuters)

     

  • MIL-OSI China: China’s home price decline continues to narrow in June

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

    The decline in the prices of commercial residential homes in China’s 70 large and medium-sized cities continues to ease on a year-on-year basis in June, official data showed on Tuesday.

    In the four first-tier cities, namely, Beijing, Shanghai, Guangzhou, and Shenzhen, new home prices dropped 1.4 percent from a year earlier, with the pace of decline narrowing by 0.3 percentage points from May, according to the National Bureau of Statistics (NBS).

    Notably, Shanghai, the country’s economic hub, recorded a 6 percent year-on-year increase in new home prices last month, the NBS said.

    Second- and third-tier cities saw new home prices fall by 3 percent and 4.6 percent year on year in June, with the declines narrowing by 0.5 and 0.3 percentage points, respectively.

    MIL OSI China News –

  • MIL-OSI China: China’s home price decline continues to narrow in June

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

    The decline in the prices of commercial residential homes in China’s 70 large and medium-sized cities continues to ease on a year-on-year basis in June, official data showed on Tuesday.

    In the four first-tier cities, namely, Beijing, Shanghai, Guangzhou, and Shenzhen, new home prices dropped 1.4 percent from a year earlier, with the pace of decline narrowing by 0.3 percentage points from May, according to the National Bureau of Statistics (NBS).

    Notably, Shanghai, the country’s economic hub, recorded a 6 percent year-on-year increase in new home prices last month, the NBS said.

    Second- and third-tier cities saw new home prices fall by 3 percent and 4.6 percent year on year in June, with the declines narrowing by 0.5 and 0.3 percentage points, respectively.

    MIL OSI China News –

  • MIL-OSI China: China’s industrial output grows faster in June

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

    China’s value-added industrial output grew at a faster pace in June, up 6.8 percent year on year, as the world’s second-largest economy stepped up efforts to support growth despite challenges both at home and abroad.

    The growth accelerated from a 5.8 percent rise in May, according to data released by the National Bureau of Statistics (NBS) on Tuesday.

    In the first six months of this year, China’s industrial output increased by 6.4 percent compared to the same period last year, according to NBS data.

    The industrial output is used to measure the activity of large enterprises, each with an annual main business turnover of at least 20 million yuan (about 2.8 million U.S. dollars).

    A breakdown of the data showed that the manufacturing sector’s value-added output increased by 7 percent year on year during the January-June period, while that of equipment manufacturing and high-tech manufacturing expanded by 10.2 percent and 9.5 percent, respectively, according to the NBS.

    The production of 3D printing equipment, new energy vehicles, and industrial robots surged 43.1 percent, 36.2 percent and 35.6 percent year on year during the period, respectively.

    Tuesday’s data also showed that the country’s GDP grew by 5.3 percent year on year in the first half of 2025. Retail sales of consumer goods, a major indicator of the country’s consumption strength, expanded 5 percent year on year during the period, while fixed-asset investment rose 2.8 percent. 

    MIL OSI China News –

  • MIL-OSI China: Power generation by China’s major enterprises up 1.7% in June

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

    Power generation by China’s major electricity production enterprises increased 1.7 percent year on year in June 2025, official data showed Tuesday.

    Total power output of these firms reached 796.3 billion kilowatt-hours last month, according to the National Bureau of Statistics (NBS).

    A breakdown of the data revealed that solar power output had soared 18.3 percent year on year, while that of nuclear power had expanded by 10.3 percent.

    The output of thermal power and wind power increased 1.1 percent and 3.2 percent, respectively, year on year, NBS data confirmed.

    In contrast, hydropower output shrank 4 percent year on year in June, the NBS data showed. 

    MIL OSI China News –

  • MIL-OSI China: China’s GDP expands 5.3% year on year in H1

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

    China’s gross domestic product (GDP) grew 5.3 percent year on year in the first half of 2025, data from the National Bureau of Statistics (NBS) showed Tuesday.

    China’s GDP reached around 66.05 trillion yuan (about 9.24 trillion U.S. dollars) in the first half, NBS data showed.

    In the second quarter, the country’s GDP expanded 5.2 percent year on year, according to the NBS.

    The tertiary industry expanded 5.5 percent year on year in the first half, outpacing a 3.7 percent increase in the primary industry and a 5.3 percent increase in the second industry.

    On a quarterly basis, China’s economy expanded 1.1 percent in the second quarter, according to the NBS.

    Since the beginning of the year, China has accelerated the implementation of a more proactive macroeconomic policy. The economy has made steady progress despite pressures, with significant economic indicators performing better than expected, said Sheng Laiyun, deputy head of the bureau, at a press conference on Tuesday.

    In the first six months of this year, China’s industrial output increased by 6.4 percent compared to the same period last year, with equipment manufacturing and high-tech manufacturing sectors posting rapid growth.

    The consumer market maintained an upward trend during the period, with retail sales of consumer goods expanding 5 percent year on year in the first half. The pace is 0.4 percentage points faster than the growth recorded in the first quarter.

    Fixed-asset investment continued to grow during the first six months, marking a 2.8 percent year-on-year increase. In particular, investment in the manufacturing sector saw notable growth.

    The job market remained generally stable, with the surveyed urban unemployment rate averaging 5.2 percent in the first half, a 0.1 percentage point decrease from the first quarter.

    The country’s per capita disposable income reached 21,840 yuan during the January-June period, marking a 5.3 percent year-on-year increase in nominal terms, or 5.4 percent after deducting price factors, according to the NBS.

    Commenting on the economic performance in the first half, Sheng described it as “highly valuable,” marked by continued progress and a positive trend built on overall stability.

    “This is a hard-won achievement, especially given the sharp changes in the international environment and increased external pressures since the second quarter,” Sheng added. 

    MIL OSI China News –

  • MIL-OSI China: China’s outstanding loans in 5 major financial areas up 14% by May

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

    China has stepped up efforts to develop technology, green, inclusive, pension, and digital finance to better support the real economy. During the first five months of 2025, outstanding loans in these five areas reached 103.3 trillion yuan (US$14.41 trillion), up 14% year on year, according to official data released Monday.

    MIL OSI China News –

  • MIL-OSI China: Xi meets heads of foreign delegations attending SCO council of foreign ministers meeting

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

    Xi meets heads of foreign delegations attending SCO council of foreign ministers meeting

    Xinhua | July 15, 2025

    Chinese President Xi Jinping on Tuesday met in Beijing with foreign ministers and heads of standing bodies of the Shanghai Cooperation Organization (SCO) who are in China to attend the Meeting of the Council of the Ministers of Foreign Affairs of SCO Member States.

    MIL OSI China News –

  • MIL-OSI Submissions: Pacific – Opportunities are endless for Nauru as Australian executive appointed to head new virtual assets regulator

    Source: Government of Nauru

     

    Following legislation passed by Nauru’s parliament last month to establish an authority to regulate virtual assets including cryptocurrency, the government has appointed highly respected Australian banking and financial markets executive Brian Phelps as its inaugural CEO. 

     

    In announcing the appointment, President of Nauru David Adeang said Mr Phelps’ vast experience will ensure the Command Ridge Virtual Asset Authority (CRVAA) will have a foundation of integrity and impact, champion innovation, and promote Nauru as a trusted digital jurisdiction.

     

    He reinforced the government’s goal of attracting businesses that bring investment, job creation, and financial innovation to the nation.

     

    “We must be innovative in our quest for economic resilience and a higher standard of living for our people, while prioritising international best practices and the highest levels of governance and compliance,” Mr Adeang said. 

     

    “This ensures investors and foreign platforms can have great trust in Nauru. 

     

    Mr Phelps has worked extensively with regulators, industry bodies and government, and served for 21 years as General Manager, Broking and Markets at CommSec, Australia’s largest online stockbroking firm and subsidiary of the Commonwealth Bank. 

     

    He has also been a committee member of the Australian Financial Markets Association. 

     

    The CRVAA will provide a licencing scheme to allow virtual asset service providers to register and offer their services using Nauru as a base.

     

    It is tasked with ensuring cybersecurity standards, monitoring financial transactions and enforcing compliance with international anti-money laundering and financial transparency protocols.

     

    Mr Phelps said he was attracted to the role because the regulatory authority would be transformational to Nauru.

     

    “This can reshape and strengthen Nauru’s economy over the long term, and create sustainability for future generations of Nauruans.”

     

    He said the benefits to Nauru will go far beyond cryptocurrency and virtual assets.

     

    “I see us attracting international companies to invest in Nauru and opening up new employment pathways as Nauruans build new skill sets.

     

    “It’s a very exciting initiative.”

     

    Mr Phelps said the opportunities were endless and include potentially transforming Nauru into a hub for AI and other leading technology. 

    MIL OSI – Submitted News –