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  • MIL-OSI New Zealand: Maximum Contribution Applying in Each Region From 1 July 2025

    Source: New Zealand Ministry of Health

    Publication date:

    Background

    Under section 53 of the Residential Care and Disability Support Services Act 2018, the Director-General of Health has determined the maximum contribution that applies in each region for long-term aged residential care.

    The maximum contribution is the maximum weekly amount (inclusive of GST) that a resident assessed as requiring long-term residential care (through a needs assessment and service coordination agency) is required to pay for contracted care services provided to them in the region in which their rest home or continuing care hospital is located.

    The maximum contribution is the same for all residents regardless of the type of contracted care services they receive. It is equivalent to the rest home contract price applying to residential care facilities in each region.

    The maximum contribution set by this notice applies from 1 July 2025 and replaces the previous maximum contribution notice published in the New Zealand Gazette, 1 September 2024, Notice No. 2024-go4265.

    Description of Regions

    The appendix of this notice sets out the maximum contribution rates. The appendix contains two parts:

    • Part 1, which sets out the rates that apply within Territorial Local Authority (TLA) boundaries; and
    • Part 2, which sets out the rates that apply within specific Statistical Areas, which are smaller subregions within the TLA boundaries specified in Part 1.

    The rate specified for the relevant region in Part 1 applies unless the facility is in a statistical area region set out in Part 2, in which case the rate specified in Part 2 applies. This reflects that a higher maximum contribution rate applies in the isolated rural localities represented by the Statistical Area Regions in Part 2 of the Table.

    Statistics New Zealand has a geographic boundary viewer that displays the TLA areas and statistical areas in the appendix on a map of New Zealand. See here for more information: Geographic Boundary Viewer.

    Health New Zealand will notify residences of the maximum contribution rate that applies to their facility. The facility will inform residents.

    Needs Assessment and Service Coordination (NASC) Agencies, Specialised Processing Services, the Ministry of Social Development and residential care providers will also be able to advise the maximum contribution rate for a facility.

    Dated at Wellington this 18th day of June 2025.

    Audrey Sonerson, Director-General of Health.

    Appendix: 2025-26 Maximum Contribution rates

    Part 1: Territorial Local Authority Region Maximum Contribution Weekly $ (GST Inclusive)
    Far North District $1,460.27
    Whangarei District $1,491.84
    Kaipara District $1,502.48
    Rodney District $1,527.33
    North Shore City $1,566.32
    Waitakere City $1,535.24
    Auckland City $1,571.57
    Manukau City $1,555.96
    Papakura District $1,527.33
    Franklin District $1,487.85
    Thames-Coromandel District $1,508.08
    Hauraki District $1,465.87
    Waikato District $1,465.87
    Matamata-Piako District $1,465.87
    Hamilton City $1,502.55
    Waipa District $1,465.87
    Otorohanga District $1,497.37
    South Waikato District $1,455.16
    Waitomo District $1,502.55
    Taupo District $1,491.84
    Western Bay of Plenty District $1,487.85
    Tauranga City $1,509.97
    Rotorua District $1,491.84
    Whakatane District $1,481.34
    Kawerau District $1,502.48
    Opotiki District $1,502.48
    Gisborne District $1,463.28
    Wairoa District $1,528.73
    Hastings District $1,486.52
    Napier City $1,486.52
    Central Hawke’s Bay District $1,486.52
    New Plymouth District $1,486.52
    Stratford District $1,460.27
    South Taranaki District $1,465.87
    Ruapehu District $1,502.55
    Wanganui District $1,465.87
    Rangitikei District $1,502.48
    Manawatu District $1,460.27
    Palmerston North City $1,481.34
    Tararua District $1,460.27
    Horowhenua District $1,460.27
    Kapiti Coast District $1,491.84
    Porirua City $1,491.84
    Upper Hutt City $1,481.34
    Lower Hutt City $1,512.28
    Wellington City $1,535.66
    Masterton District $1,463.28
    Carterton District $1,460.27
    South Wairarapa District $1,460.27
    Tasman District $1,517.95
    Nelson City $1,517.95
    Marlborough District $1,481.34
    Kaikoura District $1,487.85
    Buller District $1,497.37
    Grey District $1,455.16
    Westland District $1,497.37
    Hurunui District $1,508.08
    Waimakariri District $1,487.85
    Christchurch City $1,496.88
    Banks Peninsula District $1,539.09
    Selwyn District $1,530.06
    Ashburton District $1,470.98
    Timaru District $1,465.87
    Waimate District $1,455.16
    Waitaki District $1,455.16
    Central Otago District $1,460.27
    Queenstown-Lakes District $1,512.91
    Dunedin City $1,481.34
    Clutha District $1,455.16
    Southland District $1,497.37
    Gore District $1,455.16
    Invercargill City $1,460.27
    Part 2: Statistical Area Region Statistical Area code 2 2023 Maximum Contribution Weekly $ (GST Inclusive)
    Kaeo 101900 $1,502.48
    Kaitaia 100800 $1,502.48
    Hokianga South 102100 $1,502.48
    Kaikohe 103501 $1,502.48
    Wellsford 110501 $1,569.54
    Cape Rodney 110400 $1,569.54
    Glenbrook 162400 $1,530.06
    Te Kauwhata East 171101 $1,508.08
    Raglan 171601 $1,508.08
    Matarawa 186400 $1,497.37
    Athenree 190400 $1,530.06
    Tokomaru 205000 $1,505.49
    Opunake 220700 $1,508.08
    Te Roti-Moeroa 221201 $1,508.08
    Pātea 222201 $1,508.08
    Pahiatua 233600 $1,502.48
    Tākaka 300500 $1,560.09
    Waitohi (Marlborough District) 306801 $1,523.48
    Oxford 313200 $1,530.06
    Methven 336901 $1,513.12
    Danseys Pass 343300 $1,497.37
    Palmerston 344700 $1,497.37
    Alexandra North 345500 $1,502.48
    Teviot Valley 345800 $1,502.48
    Lindis-Nevis Valleys 344800 $1,502.48
    Cromwell West 344900 $1,502.48
    Wānaka West 346800 $1,555.12
    Wānaka Central 347000 $1,555.12
    Balclutha South 356500 $1,497.37
    Balclutha North 356600 $1,497.37
    West Otago 355800 $1,497.37
    Milton 356400 $1,497.37

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Consultation on the Code of Practice for Sealed Radioactive Material: ORS C12 2020

    Source: New Zealand Ministry of Health

    Publication date:

    The Director for Radiation Safety (the Director) intends to review the Code of Practice for Sealed Radioactive Material: ORS C12 2020 (ORS C12 2020). The review will be conducted in accordance with section 90 of the Radiation Safety Act 2016 (the Act).  

    The Director is appointed under section 76 of the Act.

    About the review 

    The purpose of the review is to enable the Director to decide whether changes are required to improve ORS C12 2020. The review will consider information on the operation, technical accuracy and clarity of the code of practice.

    Call for public submissions 

    Before reviewing the code of practice, the Director invites public submissions on the review question: 
    ‘Are changes required to improve the Code of Practice for Sealed Radioactive Material: ORS C12 2020’?

    To make a submission, please email ors.codes@health.govt.nz by 5pm, Friday 25 July 2025. It will be helpful if you use the subject line: Submission on the review of ORS C12 2020.

    About ORS C12 2020

    ORS C12 2020 was issued under section 86 of the Act. The purpose of the code of practice is to specify the technical requirements that a person who deals with a radiation source that is subject to the scope of the code of practice must comply with in order to comply with the fundamental requirements of the Act (see sections 9-12 of the Act). The code of practice was also issued to be appropriate to the level of risk posed by the radiation sources and their use.

    The scope of the code of practice is set out in the Code of Practice for Sealed Radioactive Material: ORS C12 2020.

    After the review is complete 

    If the review indicates that changes are required to improve ORS C12 2020, a further public consultation on the proposed changes will be conducted. Information on the review’s findings will be published on this webpage following the completion of the review and this information will indicate the ‘next steps’.

    For further information, please contact ors.codes@health.govt.nz.  
     

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Funding to Māori Health Providers 2019/20 to 2023/24

    Source: New Zealand Ministry of Health

    Publication date:

    This report shows information on funding to Māori health providers by the Ministry of Health, Health New Zealand, and the disestablished Māori Health Authority for the period 2019/20 to 2023/24. This report follows on from our reports in 2017 and every year from 2021, on the same topic. These reports are part of our monitoring of Whakamaua: Māori Health Action Plan 2020-2053 and the proposed Māori Health Strategy.

    Highlights include:

    • funding to Māori health providers increased from $529.8 million in 2019/20 to $999.8 million in 2023/24, an increase of $469.9 million or 88.7% (see Table 3)
    • although funding to Māori health providers is increasing, it remains a small but increasing part of Vote Health. It has increased from 3.0% in 2019/20 to 4.4% in 2023/24.
    • This report differs from previous reports as it now includes data broken down by major service groups. This enables us to see in which areas funding has increased. The top five of 33 major service groups are reported on. These five groups accounted for 81.7% of total funding to Māori health providers in 2023/24.

    The top five major service groups reported on are: mental health, Hauora Māori, Primary Health Organisations (PHOs), Public health, and Other community services.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Government posts notices of land resumption and acquisition for Development of San Tin Technopole (Phase 1) (First Batch) and Sam Po Shue Wetland Conservation Park (First Phase)

    Source: Hong Kong Government special administrative region

    The Lands Department (LandsD) today (July 10) posted land resumption notices and acquisition notices for the developments of San Tin Technopole (STT) (Phase 1) (First Batch) and Sam Po Shue Wetland Conservation Park (SPS WCP) (First Phase), in accordance with relevant ordinances.

    Section 4 of the Lands Resumption Ordinance (Chapter 124) and section 4 of the Land Acquisition (Possessory Title) Ordinance (Chapter 130) will be invoked.

    For STT (Phase 1) (First Batch), 1 309 private lots with an area of about 62 hectares will be resumed by the Government. Government land occupied by 20 graves and 42 urns, as well as 25 fishponds of about 700 square metres and about 7.5 hectares respectively, will also be acquired. In addition, for the establishment of SPS WCP (First Phase), about 85.2 hectares of government land occupied by 110 fishponds will be acquired by the Government. The land will revert to and vest in the Government upon the expiry of a period of three months from the date of affixing the notices (i.e. October 11, 2025).

    The abovementioned land reversion date and land vesting date are not the departure deadlines for the affected households and business undertakings. The LandsD will post notices in relevant areas about three months before the departure deadlines for the affected parties. According to the project programmes, the affected parties are scheduled to depart in batches. The estimated departure date for STT Phase 1 Stage 1 works will be in batches mainly from the first quarter of 2026 to the second quarter of 2027, whereas the estimated departure date for SPS WCP (First Phase) will be in batches mainly from the fourth quarter of 2026 to 2027. The LandsD and its appointed Community Liaison Service Team will closely liaise with the affected parties to handle compensation and rehousing matters.

    The STT (excluding the Loop), with an area of about 540 hectares, will be developed in two phases, with Phase 1 development of about 365 hectares. The works for Phase 1 development are subdivided into two stages, with an area of about 158 hectares for Stage 1 works and about 207 hectares for Stage 2 works. The Stage 1 works commenced late last year. As previously stated publicly, the Government will not carry out pond filling works before commencing works for SPS WCP in 2026/2027. Upon full development, the STT will provide about 50 000 residential flats, accommodating a new population of more than 150 000. It will also create about 160 000 employment opportunities. The first population intake of about 18 000 under Phase 1 Stage 1 development will start progressively from 2031 onwards.

    SPS WCP, spanning over 300 hectares, will also be developed in two phases. The works of SPS WCP (First Phase) covering an area of about 150 hectares will commence in 2026/2027 (including the abovementioned proposed acquisition of land of about 85.2 hectares) for completion in 2031. The park serves multi-functions to conserve the Deep Bay wetlands, facilitate the modernisation of the aquaculture industry, as well as create environmental capacity and compensate for the impact on ecology and fisheries resources. The entire park is expected to be completed by 2039 to align with the estimated time for full operation of the STT.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Government posts notices of land resumption and acquisition for Development of San Tin Technopole (Phase 1) (First Batch) and Sam Po Shue Wetland Conservation Park (First Phase)

    Source: Hong Kong Government special administrative region

    The Lands Department (LandsD) today (July 10) posted land resumption notices and acquisition notices for the developments of San Tin Technopole (STT) (Phase 1) (First Batch) and Sam Po Shue Wetland Conservation Park (SPS WCP) (First Phase), in accordance with relevant ordinances.

    Section 4 of the Lands Resumption Ordinance (Chapter 124) and section 4 of the Land Acquisition (Possessory Title) Ordinance (Chapter 130) will be invoked.

    For STT (Phase 1) (First Batch), 1 309 private lots with an area of about 62 hectares will be resumed by the Government. Government land occupied by 20 graves and 42 urns, as well as 25 fishponds of about 700 square metres and about 7.5 hectares respectively, will also be acquired. In addition, for the establishment of SPS WCP (First Phase), about 85.2 hectares of government land occupied by 110 fishponds will be acquired by the Government. The land will revert to and vest in the Government upon the expiry of a period of three months from the date of affixing the notices (i.e. October 11, 2025).

    The abovementioned land reversion date and land vesting date are not the departure deadlines for the affected households and business undertakings. The LandsD will post notices in relevant areas about three months before the departure deadlines for the affected parties. According to the project programmes, the affected parties are scheduled to depart in batches. The estimated departure date for STT Phase 1 Stage 1 works will be in batches mainly from the first quarter of 2026 to the second quarter of 2027, whereas the estimated departure date for SPS WCP (First Phase) will be in batches mainly from the fourth quarter of 2026 to 2027. The LandsD and its appointed Community Liaison Service Team will closely liaise with the affected parties to handle compensation and rehousing matters.

    The STT (excluding the Loop), with an area of about 540 hectares, will be developed in two phases, with Phase 1 development of about 365 hectares. The works for Phase 1 development are subdivided into two stages, with an area of about 158 hectares for Stage 1 works and about 207 hectares for Stage 2 works. The Stage 1 works commenced late last year. As previously stated publicly, the Government will not carry out pond filling works before commencing works for SPS WCP in 2026/2027. Upon full development, the STT will provide about 50 000 residential flats, accommodating a new population of more than 150 000. It will also create about 160 000 employment opportunities. The first population intake of about 18 000 under Phase 1 Stage 1 development will start progressively from 2031 onwards.

    SPS WCP, spanning over 300 hectares, will also be developed in two phases. The works of SPS WCP (First Phase) covering an area of about 150 hectares will commence in 2026/2027 (including the abovementioned proposed acquisition of land of about 85.2 hectares) for completion in 2031. The park serves multi-functions to conserve the Deep Bay wetlands, facilitate the modernisation of the aquaculture industry, as well as create environmental capacity and compensate for the impact on ecology and fisheries resources. The entire park is expected to be completed by 2039 to align with the estimated time for full operation of the STT.

    MIL OSI Asia Pacific News –

  • MIL-OSI Banking: Andrew Bailey: The meaning of reserve currency

    Source: Bank for International Settlements

    It is a great pleasure to have the opportunity to make some remarks this afternoon. This is not just to be able to follow a fascinating and timely lecture, but also because I worked for Andrew Crockett at the Bank of England nearly 40 years ago. Andrew was inspiring to work for, one of the deepest thinkers about international economic policy and central banking. He also had a quite incautious side too. He was a practitioner of one of his favourite phrases – “if you have never missed a plane, you obviously arrive at airports too early”. Andrew was also the creator of the Financial Stability Forum, and its first chair.

    I want to spend my time developing a theme that has run though Maury’s lecture, namely what has been the meaning of the term reserve currency, and what does it mean today. My conclusion is that it is best to think of the term as one that has evolved with the times, and continues to do so. Thinking of it as a constant term does not help to understand its meaning.

    I will start with the nineteenth century meaning of the term. The monetary regime was the classical gold standard, and convertibility of domestic currency into gold at a fixed price was the nominal anchor of the system. The term reserve therefore referred to the gold reserves that were held to enable convertibility and the promise thereof.

    The nineteenth century Bank of England spent time managing that reserve balance to create confidence in the promise of convertibility. Today, our banknotes still carry the words “I promise to pay the bearer on demand, the sum of”. Nowadays, it means that someone can have another banknote, but under the gold standard it meant much more. This system did not put as much emphasis on financial stability, with the consequence that when crises occurred (as they did in that time), they were managed with a certain degree of adhocery. Hence, Walter Bagehot wrote his famous critique of the Bank.

    There was rather more to the concept of reserve currency in this period. Sterling was the premier currency of international trade, built on trade with the British Empire, but extending further over time to the countries of the so-called Sterling Area. It is one of the questions in central bank Trivial Pursuit to name countries in the Sterling Area.

    The collapse of this system between the wars led to the Bretton Woods system coming into existence and its heyday once full convertibility was restored. This system had the joint dollar-gold anchor in the form of a fixed dollar-gold rate and pegging of the major currencies. The consequence was a substantial growth of official dollar reserves, and the further emergence thus of the dollar as the reserve currency.

    The system therefore had a joint anchor. Because Bretton Woods solved the so-called Trilemma by restricting capital flows, the threat of countries exhausting reserves was limited, but not sufficiently so to prevent difficult devaluations at times. Moreover, I tend to think of the Triffin Dilemma as posing the question – what if the bluff of the dollar-gold tie had been called, and what would be the consequence?

    From the early 1970s that system broke down. Countries moved to free float, with periodic attempts at management, and a lifting of restrictions on capital controls. Alongside this was the emergence of the domestic anchor of monetary policy, usually an inflation target. The dollar had become the predominant currency of international trade and payments.

    The role and nature of reserves had changed. No longer were they a nineteenth century description of the central bank’s balance sheet and its liquidity under the classical gold standard. Rather, they became a description of so-called official reserves typically, but not always, held by governments, though often managed by central banks. Their role was different, reflecting the changes to the solution of the Trilemma. As foreign exchange intervention to influence exchange rates came to an end, the role of reserves in many countries was to act as a bulwark against pressures from capital flows, as seen in the Asian crisis of the late 1990s.

    A few numbers help here. The stock of FX reserves relative to global GDP increased from 3% to 11% between 1976 and last year.

    During that period, foreign currency reserves as a proportion of global reserve assets including gold increased from 50% to 90%, while the dollar’s share of foreign currency reserves declined from 80% to 57%. I take four points from these figures: the total stock of FX reserves has increased; the share of gold fell; the dollar’s share fell as it moved from being the anchor currency to the largest currency; and the evidence further supports the view that the meaning of the term reserve currency has changed over time.

    Today, with domestic monetary anchors, financial stability has become the focus of international co-ordination, the opposite of the gold standard arrangements. The meaning of reserve currency has changed again as a consequence. I would point to two important features of today’s system.

    First, the concept of reserve currency has a lot more to do with the supply and denomination of safe assets which act as security in the financial system, and are increasingly at the heart of it. This version of the concept of reserve currency has as much to do with the role of US Treasuries as a safe asset, that is present not just in official reserves but also to provide security and collateral in financial markets.

    Second, these arrangements are backed up by the provision of contingent liquidity insurance in the form of central bank swaps and a repo facility. These arrangements underpin the role and primacy of the reserve currency.

    I will end with two points which strike me as unfinished or emerging. First, at least for the large economies, it could be asked today, what is the point of official reserves? My view is that today their use is more to do with preserving financial stability in the event of stress. They may be needed to support financial system liquidity in situations of extreme stress.

    My second point, as BIS colleagues have emphasised, is that we need to watch carefully the evolution of payments forms and whether innovation here introduces fragility into what I would call the “money system”.

    If, for instance, stablecoins emerge as a new form of money, we have to decide how to ensure the singleness of money and therefore trust in money in this world, and what role the notion of reserve currency should play here.

    To finish, thank you Maury for such a stimulating lecture. You pushed me to think further about the meaning of reserve currency. The conclusion I draw was that we need to emphasise more its adaptable nature, but thereby be very clear what it means in the world of today and tomorrow.

    Thank you.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Andrew Hauser: What has Australian macroeconomic thought achieved in the past century – and where can it contribute in the next?

    Source: Bank for International Settlements

    Introduction

    It is a great honour to address you on the 100th anniversary of the Economics Society of Australia.

    It’s an honour because, over that past century, Australian thinkers have helped develop some of the most important building blocks in open economy macroeconomics – the branch of economics that seeks to understand how the global trading economy works.

    Those were significant – sometimes world-leading – intellectual achievements.

    But they were more than just that. Because they also shaped the policies and institutions that helped Australia navigate the global economy of that period so successfully, delivering wealth and stability for its citizens.

    Indeed Australian macroeconomic research has pulled that trick off twice. First, powering the ideas that lifted the country out of the Great Depression to flourish after the Second World War. And, second, helping to design a reform program that rescued the country from the slump of the 1970s, and led to more than a quarter century of recession-free growth.

    Two Golden Ages, marshalling thought into action.

    But to thrive in the next 100 years, Australia’s researchers will need to go for the hat-trick.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Eddie Yue: Unlocking value through China’s resilience

    Source: Bank for International Settlements

    Ladies and Gentlemen, good morning. It is an honour to join you today as we celebrate the 8th anniversary of the Bond Connect. The theme today, “Unlocking Value through China’s Resilience,” could not be more timely. The global capital markets are undergoing profound transformation, driven by a host of factors including increasing trade tensions, geopolitical and economic shifts, and changing investment appetite and patterns. These changes are reshaping the way capital flows across the world, creating both new opportunities and challenges for market participants. Now, let me first share some observations about the macro trends.

    Macro trends:

    The first trend is global diversification. Global capital markets have been on a roller-coaster driven by shifting policies and economic uncertainties. In light of these unpredictable swings, diversification stands out as the most essential investment strategy. Indeed we are now in a world of unprecedented choice and many more institutional investors are looking to further diversifying their portfolios. The strong investor response to the Hong Kong Government’s recent issuance of HK$27 billion in green and infrastructure bonds is telling of the diversifying trend. This multi-currency issuance attracted participation from a wide spectrum of investors from more than 30 markets across Asia, Europe, Middle East, and the Americas, with total order at about 9 times of the issuance size. In particular, the 30-year HKD government bond was offered for the first time, further extending the HKD yield curve. The 20-year and 30-year RMB government bonds, which were first introduced last year, also received overwhelming support, doubling in issuance size from last year. 

    Against this backdrop of global trend for diversification, China’s bond assets have emerged as a particularly compelling choice.

    • First, China’s bond market is the second largest in the world. Chinese bonds have the market depth and liquidity to become an increasingly important asset class among global investors.
    • Secondly, China has a relatively low debt level, with the general government debt-to-GDP ratio at around 84%, which is much lower than some major advanced economies.1
    • Thirdly, the low correlation between China’s onshore market and major global markets, at just 0.1 over the past 10 years, makes China bonds a very good diversifier.2
    • Fourthly, the risk-adjusted return of China bonds is relatively attractive. Onshore RMB bonds had an annualised volatility of around 1.3% over the past year, significantly lower than the volatility in other advanced markets during the same period.3

    This combination of features of China’s bond market as an attractive asset class for global investors seeking high-quality investments. In fact, according to a recent survey on central banks, over 30% of the respondents expect to increase their RMB holdings in the next five years.

    The second trend is Mainland China’s rapid wealth accumulation, particularly in institutional capital, which is creating new opportunities for their outbound investment. For example, China’s national pension reserve fund grew to around USD 400 billion by the end of 2023.4 Recent policy discussion also reaffirms that China encourages the national pension fund to cooperate with high-quality overseas investment managers to optimise its investment approach.5 The new private pension scheme has already attracted over 60 million participants since its inception in 2022, with this rapidly growing pool of capital projected to reach nearly USD 1 trillion by 2030.6 As Mainland institutional investors increasingly seek to diversify their portfolios and expand overseas asset allocation, there is significant potential for future growth in the Southbound Bond Connect, through Hong Kong’s platform to invest overseas.

    These two-way trends — global investors’ growing interest in RMB-denominated bonds and Mainland investors’ expanding overseas allocations — underscore the critical role of the Bond Connect as a gateway to facilitate cross-border capital flows between the Mainland and global financial markets. In a rapidly changing global financial landscape, the ability to adapt and innovate is key. Bond Connect exemplifies the power of collaboration and innovation in addressing the changing needs of investors, as it continues to evolve over the years.

    Policy work:

    In the past year, we have been working closely with relevant Mainland authorities, especially with the People’s Bank of China, to step up efforts to enhance the Bond Connect and its ecosystem. I wish to take the opportunity to make the following three announcements:

    • First, under the Northbound channel, investors can already use Bond Connect bonds as collateral for the Hong Kong Monetary Authority (HKMA)’s RMB Liquidity Facility, margin collateral for OTC Clearing Hong Kong Limited (OTCC) derivative transactions, and for conducting offshore RMB bond repurchase (repo) transactions. We are expanding the offshore RMB repo business to also support re-hypothecation and cross-currency repo, and the CMU OmniClear will enhance the operational arrangements accordingly. These enhancements will be implemented in late August 2025. 
    • Secondly, the Southbound Bond Connect investor scope is expanded to include securities firms, fund companies, insurance companies and wealth management companies, formally effective from today. This will open up more channels to meet the growing demand from Mainland investors, addressing their needs for diversified asset allocation. It will also bolster the development of Hong Kong’s bond market by widening the investor base and enhancing market liquidity, hence increasing Hong Kong’s attractiveness to bond issuers and global investors.
    • Thirdly, further to the announcement in May 2025, 30-year interest rate swaps (IRS) contracts have already gone live early last week (on 30 June) under the Swap Connect, and IRS contracts using the Loan Prime Rate (LPR) as reference rate will be launched in the coming months.    

    Besides, we have been working on strengthening Hong Kong’s financial infrastructure to support greater efficiency in the Hong Kong and Mainland Chinese bond markets. For example, the recent signing of a MoU between CMU OmniClear and LCH could facilitate the wider use of CNH bonds as collateral in the international market. This highlights the unparalleled role of Hong Kong’s infrastructure in supporting investment in CNH-denominated debt securities by investors from all over the world. 

    Looking ahead:

    As investors navigate geopolitical changes and search for greater diversification, the Bond Connect will continue to serve as a key platform connecting China’s bond market with the world. The HKMA will work closely with stakeholders to ensure that the platform will meet these changing needs — by enhancing market liquidity (such as cross-border repo in the pipeline), strengthening risk management (with offshore CMOF bond futures under preparation), and further broadening the investment channels. The continuous development of Bond Connect will not only deepen market integration but also reinforce Hong Kong’s unique role as a gateway between China and the international financial market. Thank you!

    MIL OSI Global Banks –

  • MIL-OSI Banking: Vasileios Madouros: Opening statement – Oireachtas Select Committee on Budgetary Oversight

    Source: Bank for International Settlements

    Good afternoon Chair and Members of the Committee. Thank you for inviting us to appear before the Committee today.

    I am joined by my colleagues Martin O’Brien, Head of our Irish Economic Analysis Division and Thomas Conefrey, Deputy Head in the same Division. We very much welcome the opportunity to engage with you on the outlook for the economy and the public finances.

    In my opening statement, I will cover briefly our latest assessment of the economic outlook, as outlined in our June Quarterly Bulletin, as well as our latest economic advice to the Government, as outlined in the Governor’s pre-Budget letter (PDF 3.04MB), published last week.

    The economic outlook

    Let me start with the global context, because the key factors shaping the domestic outlook stem from developments abroad, but with important implications for Ireland.

    Since the start of the year, we have seen a material shift in trade policy, with rising tariffs between the US and its trading partners, as well as a sharp increase in policy uncertainty.

    In light of these developments, the global growth outlook has weakened. Short-term forecasts for world trade and economic activity have been revised downwards. And uncertainty around these forecasts is particularly elevated, given the range of potential outcomes around trade policy.

    The openness of the Irish economy and the prominent role that FDI and multinational firms play domestically mean that Ireland is particularly exposed to changes in the global economic outlook as well as shifts in trade policy, and broader economic policy, in the US.

    Given uncertainty over the future direction of US trade policy, our June Quarterly Bulletin presented projections for the economy under a baseline and a more adverse scenario.

    These were based on different assumptions around the level and coverage of tariffs, the level and persistence of uncertainty and the future path of financing conditions.

    In the baseline scenario, we expected Modified Domestic Demand to grow by 2.0 per cent in 2025 and by 2.1 per cent per annum on average in 2026 and 2027.

    This is a downward revision to the growth outlook relative to our previous projections – but the central outlook is still consistent with a full-employment economy.

    The adverse scenario assumed persistently higher and broader tariffs, including due to retaliation from the EU. It also assumed that policy uncertainty would remain higher for longer and that financing conditions would be tighter.

    In this scenario, annual average MDD growth would almost halve compared to the baseline, illustrating the sensitivity of economic activity to an escalation of trade tensions.

    The trade-offs facing the public finances

    The economy and public finances are entering this period of heightened uncertainty from a strong position. But there are also underlying vulnerabilities that need to be managed carefully.

    The exceptional growth in corporation tax receipts since 2015 and the strong pace of economic expansion in recent years have resulted in a marked increase in government revenues.

    As a result, even with the substantial rise in government spending and some tax cuts, the headline budget balance has run substantial surpluses in recent years.

    However, external developments mean that this benign combination of factors, namely, a rapidly growing economy and exceptional corporate tax receipts, could be at risk in the coming years.

    In particular, risks to the fiscal position from lower corporate taxes and other MNE-dependent taxes have increased given recent international developments.

    And, excluding estimated “excess” corporation tax (and the impact of the Apple State Aid case), the budget balance has been in a persistent deficit position for 17 consecutive years.

    At the same time, in the current juncture, an important public policy priority is the need for higher investment, both to address infrastructure deficits and to support the transition to net zero.

    Indeed, these infrastructure deficits have become an increasingly significant factor constraining the supply side of the economy.

    Addressing infrastructure deficits will not only help meet important societal and economic needs today, but also enable our economy to remain competitive amid a shifting geopolitical landscape.   

    Finally, looking further into the future, there are known future funding needs that the State needs to prepare for today.

    Given demographic trends, Ireland is expected to see the largest increase in age-related spending, on areas such as pensions, healthcare and long-term care, amongst the EU by 2050.

    And we know already that the Future Ireland Fund, the establishment of which has been a very positive public policy intervention, will not be sufficient, on its own, to finance the higher level of public expenditure that will be required to meet the needs of an older population.

    Overall, the current environment presents important trade-offs for fiscal policy. Between investing in infrastructure, but not adding excessively to demand in a capacity-constrained economy. Between addressing the funding needs of today, but also preparing for the funding needs of the future.

    Managing those trade-offs

    While undoubtedly this presents a difficult balancing act, careful management of the public finances can contribute to achieving these multiple aims. So let me finish off by summarising our economic policy advice outlined in the Governor’s pre-budget letter, in light of those trade-offs.

    I will focus on three areas in particular.

    First, it is important that the Government commits, and adheres to, a credible fiscal anchor that results in sustainable increases in net government expenditure over time. In the current context of the economy operating at capacity, it is important, from a macro-stabilisation perspective, that the overall fiscal policy stance does not add excessively to demand.  

    Second, within that overall fiscal envelope, the public finances need to prioritise investment. Sustainably achieving the necessary rise in public investment requires creating sufficient economic and fiscal space, through offsetting choices in terms of current spending or taxation. Beyond demand management considerations, broadening the tax base is also important for addressing future funding needs and mitigating the reliance of the public finances on corporate tax receipts.

    Third, public investment alone will not be sufficient to address the economy’s infrastructure gaps. Measures that reduce delays, and, therefore, the ultimate costs, in the planning and building of infrastructure are needed to help ensure that the benefits of public investment for long-term growth are realised fully.  Measures that incentivise scale and investment in new machinery, equipment and technologies in the construction sector can also help enhance productivity and enable more sustainable delivery of housing and infrastructure. These structural policies can have an outsized impact on strengthening the supply side of the economy, complementing, and adding to the effectiveness of, additional public investment in infrastructure.

    Thank you for your attention and we look forward to your questions.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Gent Sejko: Bolstering credit to the agriculture sector

    Source: Bank for International Settlements

    Dear Minister Minister of Finance,

    Dear representatives of the banking sector,

    Let me start by conveying my heartfelt thanks for your participation in this important roundtable discussion, co-organized with the Ministry of Finance. This event aims to identify the appropriate pathways and instruments for opening a new chapter regarding credit to the agricultural sector in Albania.

    As we have emphasized in many previous discussions and communication platforms, lending to the agricultural sector has been-and continues to be-a structural weakness for both our economy and banking sector.

    The comparison of the significant role that agriculture plays in the Albanian economy with the limited level of credit this sector receives from the banking sector, clearly illustrates this weakness. Agriculture accounts for around 20% of GDP of Albania and employs around 1/3 of population, yet it benefits less than 2% of total bank credit. Moreover, recent trends in the agricultural lending have not been encouraging.

    The underlying reasons of the low level of credit to the agricultural sector-ranging from property ownership issues and high levels of informality, to the relatively high business risk and low productivity due to the absence of economies of scale-have been consistently discussed. Some of these problems still remain relevant, while others are gradually being addressed.

    However, even in this challenging context – credit to the agricultural remains low. This deficiency must be addressed without further delay if we aim at boosting the stable development of this sector that is crucial for the Albanian economy.

    Against this backdrop, the Bank of Albania has aligned its Financing Programme to Micro, Small, and Medium-sized Enterprises to emphasize the growth of credit to the agricultural sector.
    This program, that involves all stakeholders in the banking sector, offers a reliable and sustainable source of low-cost funding to support lending of development projects in the agricultural sector, including agrotourism and the agro-food industry.

    Last, the Government of Albania has undertaken concrete steps in this regard, by making available a sovereign guarantee scheme for loans granted to the agriculture sector.  This guarantee significantly mitigates the credit risk related with this sector, in turn considerably reducing one of the fundamental problems we have discussed, and the collateral.

    We deem that both development projects provide a solid platform for progressing further as we make a new qualitative step in lending to the agriculture. Nevertheless, the success of this platform considerably dependents on the involvement and the commitment to utilising its instruments.

    In this context, allow me to draw your attention to three important points.

    • First, from the narrower perspective of the business interests you represent, I would like to highlight that the low level of lending to the agricultural sector should be considered equally both as a reflection of existing structural and operational problems, and as a potential indicator for the high returns you may have from investments in this sector. In light of this, I encourage you to give agricultural sector the attention and expertise it rightly deserves.
    • Second, from the perspective of the overall economic development, the growth of the agricultural sector-aligned and progressing in parallel with other sectors of the economy-should be regarded as a crucial pillar for the long-term and sustainable development of Albania. From this standpoint, as primary actors in Albania’s economic and financial landscape, you are encouraged to view lending to the agricultural sector as a strategic investment that yields positive returns for the country’s sustainable and inclusive growth.
    • Third, as key actors in the social life of the country, the support to the agriculture sector should also be viewed as a moral obligation toward Albania, the country where you safely carry out your business and in a profitable manner. Supporting the food supply chain industry remains a factor of vital importance for a country and its population.

    Dear representatives of the banking sector,

    I kindly invite you to consider the issues addressed above more as an appeal to your rational judgement than to your emotions. The Bank of Albania will not, under no circumstances, take measures that would jeopardise the soundness of your financial positions or undermine the financial stability interests of Albania in the long term.

    That said, while safeguarding financial stability, I believe it is appropriate to engage in an open and transparent dialogue aimed at rethinking our approach to lending in the agricultural sector, in line with the long-term interests of the social and economic development of Albania.

    Thank You!

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: Survey reveals high parental confidence in children’s vaccines

    Source: United Kingdom – Executive Government & Departments

    News story

    Survey reveals high parental confidence in children’s vaccines

    UKHSA data shows 85% of parents are confident childhood vaccines are safe, effective and trustworthy.

    New data published today by the UK Health Security Agency (UKHSA) shows continued high levels of confidence in the UK’s childhood vaccination programme.

    The Childhood vaccines: parental attitudes survey 2025, which tracks parental attitudes towards childhood immunisations across the UK found that most parents believe that childhood vaccines are safe (85% up from 84% in 2023) that they trust them (84% up from 82% in 2024) and they work (87% compared to 89% in 2024).

    Parents had a strong awareness of the risks posed by vaccine-preventable diseases, with over 90% (compared to 86% last year) agreeing that pneumonia, meningitis, hepatitis, polio and septicaemia were serious.

    The survey also captured parental attitudes towards newer additions to the vaccination schedule. An important new pregnancy vaccine was introduced in September 2025 to help protect babies against Respiratory Syncytial Virus (RSV) and 85% of parents of babies and younger children also rated RSV infection as serious.

    Healthcare professionals, in particular GPs, health visitors and nurses, continue to be the most trusted source of vaccine information. 76% of parents had seen or heard information about children’s vaccines in the past year, predominantly from trusted sources including healthcare professionals and official NHS websites. Only 7% ranked the internet and 3% social media in their top three most trusted sources.

    Most parents (79%) had already decided that their baby would have all the vaccines offered before they spoke to a health professional. However, following a discussion with a health professional more than half of these parents (53%) said they felt even more confident about their decision, and of those who had decided not to vaccinate 15% changed their mind in favour of vaccination. This is positive news, given the declines in uptake over recent years, and highlights the vital role that knowledgeable health care professionals can play in reversing that decline.

    Most parents (80%) reported that they had not seen or heard any concerning information about childhood vaccines, with 12% reporting mixed information and just 3% reporting hearing or seeing information that undermines vaccines. 86% of all parents felt they had received enough information to make an informed decision about vaccines offered to their children.

    Dr Julie Yates, UK Health Security Agency’s Deputy Director for Immunisation Programmes:

    The findings from our latest survey are encouraging and show that most parents across the UK continue to trust the NHS childhood vaccination programme and understand its importance in protecting our children. It’s particularly reassuring that parents identify healthcare professionals and NHS resources as their most trusted sources of vaccine information. Having questions about vaccines is a normal part of the parental journey. Our survey highlights the crucial role that healthcare professionals play in providing parents with accurate information about vaccines and the serious diseases they protect against, and in building confidence in these programmes. We urge parents with any concerns to speak with a trusted NHS professional such as their GP, Health Visitor, Midwife or Practice Nurse.

    However, childhood vaccination rates are still not where we want them to be, and we cannot be complacent. We know that many parents and carers have busy lifestyles, and that finding time to ensure your child attends their appointment can be a challenge. That is why we are working with the NHS and partners to improve access to childhood vaccination services. Getting our rates up to the 95% WHO target required to eliminate these diseases will take sustained effort and a long-term commitment across the public health system, and we are working together and with families and communities to do this.

    Dr Amanda Doyle, National Director for Primary Care and Community Services at NHS England, said:

    Today’s findings reflect the essential work being done by GPs, health visitors and nurses to reliably inform parents about childhood vaccinations, with more than half of parents saying they felt more confident in getting their children vaccinated after speaking to a healthcare professional, with vaccination one of the best ways to boost public health and prevent illnesses.

    Our childhood immunisation programmes are available for free on the NHS as we want to make sure as many children as possible are protected against becoming seriously unwell, and NHS England continues to work closely with vaccination teams, schools and GP services to make it as easy as possible for young people to get their jabs.

    Our 10 Year Health Plan aims to build an NHS fit for the future which includes improving access to vaccinations to help put people in control of their own health and I would encourage all parents to act on invites or check vaccination records if they think they may have missed their child’s vaccination.

    Updates to this page

    Published 10 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Council visits around 2,000 tenants in an intensive week of activity to offer support

    Source: City of Birmingham

    Visiting housing tenants and asking them how they are has been the focus of an intensive week of activity by Birmingham City Council.

    Housing officers have visited around 2,000 council tenants in just one week to check in with people, to get to know them face-to-face and to ensure they are receiving the support they need.

    Officers visiting properties have been able to refer tenants for financial advice, identify potential savings on energy costs, determine if properties or gardens require any repair work, and identify tenants interested in being involved on local tenant boards.

    The visits are an opportunity for the council to uncover and resolve unknown issues that tenants may face.

    The council will continue its activity of visiting tenants face-to-face. Care leavers, older tenants, and tenants who have not been seen for a while are being prioritised.

    Housing officers ready to visit tenants at Wilmcote.

    Councillor Nicky Brennan, Cabinet Member for Housing and Homelessness, said:

    “We have had a particularly intensive week of action last week and are committed to stepping up our visits in future.

    “Speaking face-to-face with our tenants, getting to know them, and asking how they are is vital in providing out tenants with the service and support they deserve. A good home is fundamental to people’s lives, providing them with security, community, health, and wellbeing.

    “By visiting people, it can help us to identify unknown issues early, solving them before they become bigger, more complex and harder to resolve.

    “The programme of work has allowed us to identify urgent housing repairs we were not previously aware of, while also signposting people with poor health or financial difficulties to the most appropriate service for their needs.

    “Visiting all 59,000 council-owned properties across Birmingham is a challenge for us. We know many of our tenants have not had a face-to-face visit for a long time. We recognise how important these visits are and have made changes to ensure we can visit tenants more often in future.

    “It has been great to hear the positive impact these visits have had so far, and I look forward to hearing more from our tenants over the next year.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: UN Human Rights Council 59: UK Closing Statement

    Source: United Kingdom – Government Statements

    World news story

    UN Human Rights Council 59: UK Closing Statement

    UK Closing Statement for the 59th session of the HRC. Delivered at HRC59 in Geneva.

    Thank you, Mr President.

    We would like to make closing remarks on three resolutions.

    In respect of L.20, the UK’s commitment to the safety of journalists and media freedom is unwavering. In accordance with international law, surveillance or interference with encryption technologies must be necessary, proportionate and subject to proper safeguards. Without such safeguards, journalists’ lawful activities should not be investigated or interfered with – either domestically or extraterritorially. In the UK, our investigatory powers legislation protects journalistic freedom by including specific safeguards for confidential journalistic material.

    In respect of resolution L.17 on climate change, the UK is concerned that the significance of the Paris Agreement is inadequately reflected. We emphasise that the Paris Agreement is a freestanding treaty and not an annex to the Framework Convention. The UK is fully committed to the Paris Agreement, which urges all parties to tackle climate change in light of different national circumstances.  

    Human rights must be respected and protected when taking action to address climate change. However, climate finance, debt relief, climate justice and technology transfer are not prerequisites to the realisation of international human rights obligations.  International human rights law does not recognise the concept of common but differentiated responsibilities and respective capabilities, which is specific only to certain international environmental treaties.

    Finally, with respect to L.8, the UK has long been a supporter of better and more affordable access to medicines in low- and middle-income countries. However, to maximise the prospects of successfully and sustainably achieving this, technology transfer needs to be on voluntary and mutually agreed terms. The UK has consistently raised its concerns about the phrase “unhindered access” in this and other fora. 

    The UK thanks the core groups for their constructive engagement on these resolutions.

    Thank you.

    Updates to this page

    Published 10 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Career Trajectory “Intern”: Polytechnic University Raises New Generation of Teachers

    Translation. Region: Russian Federal

    Source: Peter the Great St. Petersburg Polytechnic University –

    An important disclaimer is at the bottom of this article.

    60 young teachers — representatives of all 12 SPbPU institutes — have become graduates of the retraining program “Pedagogical Start”. The program is a mandatory part of the career trajectory “Intern”, intended for master’s students and final-year specialists, as well as postgraduate students planning their professional career as a teacher or researcher.

    The program participants successfully defended their final theses and received diplomas of professional retraining. Many of them will continue their teaching activities in the new academic year as assistants.

    “The career trajectory “Intern” was launched for the first time at the Polytechnic University this academic year as part of the implementation of the policy in the field of forming career trajectories for the professional development of teaching staff from among the faculty,” said Lyudmila Pankova, Vice-Rector for Educational Activities at SPbPU. “Graduates of the “Pedagogical Start” program are our successor, who will help current teachers transform the university’s educational programs to achieve technological leadership in our country.”

    The professional retraining program “Pedagogical Start” included a large block of theoretical training, allowing to master modern educational technologies, regulatory foundations of pedagogical activity, methods of working in the digital environment of SPbPU, as well as pedagogical internship under the guidance of mentors – leading teachers of higher schools and departments of the university.

    The pedagogical internship became the core of the entire retraining program, allowing the interns, on the one hand, to adopt the experience of the best teachers in the relevant professional field, and on the other hand, to apply all the theoretical knowledge they had acquired in practice, trying themselves out as teachers, noted Elena Zima, Director of the SPbPU Education Quality Center and Head of the Pedagogical Start program.

    During the defense of their final theses, the interns presented their experience of implementing the chosen teaching method and the developed fragment of the online course in the electronic information and educational environment of the Polytechnic. It is especially valuable and worthy of respect that the newly-minted teachers mastered the program in parallel with the preparation of diplomas in the main educational programs.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Govt prepares for adverse weather

    Source: Hong Kong Information Services

    With adverse weather conditions forecast for Hong Kong, Chief Secretary Chan Kwok-ki today chaired a meeting of the steering committee for the handling of extreme weather.

     

    The meeting was convened to review and steer cross-departmental preparations and response plans with respect to typhoons, rainstorms and thunderstorms.

     

    Tropical Cyclone Danas, now over Fujian, is forecast to enter Guangdong tomorrow and weaken gradually. An active southwest monsoon to its south will generally affect the vicinity of the Pearl River Estuary tomorrow and Friday, and there will be torrential rain and squally thunderstorms over Hong Kong, with the weather possibly becoming relatively severe by then.

     

    Members of the public are advised to pay attention to the latest weather forecasts and warnings from the Observatory.

     

    At the meeting, the Drainage Services Department reported that it had made special arrangements to inspect and carry out clearance at about 240 locations which are prone to flooding due to blockages. 

     

    The “just-in-time” arrangement will continue, with 180 emergency response teams conducting inspection and clearance of drainage channels in different districts across the city.

     

    The Highways Department will inspect flood warning systems installed at road tunnels and pedestrian subways with a higher risk of flooding. Locations include the Kwun Tong Road Underpass and pedestrian subways along the Shing Mun River in Sha Tin, the Lam Tsuen River in Tai Po and the Tai Po River. 

     

    Meanwhile, District Offices have also initiated relevant response measures, including co-ordinating with other departments and organisations to enhance preparedness. They will mobilise District Council members, members of “the three committees” and Care Team members to disseminate the latest weather information to residents in flood-prone areas, reminding them to make necessary preparations.

     

    The Security Bureau’s Emergency Monitoring & Support Centre (EMSC) will be fully activated from 5pm tomorrow to monitor the situation in the city.

     

    Utilising the Common Operational Picture, the EMSC will conduct real-time citywide monitoring, and integrate updates from various departments to swiftly assess risks and formulate response plans and measures.

     

    Various emergency response teams – including the Fire Services Department, the Police Force, the Civil Aid Service and the Auxiliary Medical Service – have completed all necessary preparatory work and are on standby in order to handle possible emergencies during heavy rainstorms and high winds, and to provide assistance to those in need.

     

    Moreover, the Transport Department’s Emergency Transport Co-ordination Centre will operate round-the-clock to closely monitor traffic and transport conditions in co-operation with public transport agencies. It will disseminate emergency traffic information and public transport service arrangements to the public in a timely manner.

     

    The Education Bureau will also closely monitor the weather conditions and announce arrangements for schools and for Primary Six students’ registrations with their allocated secondary schools in a timely manner to allow parents and students to make early preparations.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: HK outstanding in maritime audit

    Source: Hong Kong Information Services

    Hong Kong, China has achieved outstanding results in the International Maritime Organization (IMO) Member State Audit Scheme, the Transport & Logistics Bureau announced today.

     

    The audit was conducted to examine the relevant obligations Hong Kong fulfilled in relation to the mandatory IMO instruments.

     

    The audit was carried out from November 4 to 13, 2023, and the results, which were recently published, showed the outstanding performance by Hong Kong in multiple audit areas, especially its shipping registry.

     

    The bureau said that the audit result testifies to Hong Kong’s commitment to go above and beyond in fulfilling international obligations.

     

    It added that Hong Kong, as an IMO associate member, will continue to maintain its outstanding performance and consolidate its position as a leading international maritime centre.

     

    The bureau also noted that the Hong Kong Shipping Registry ranks fourth in the world in terms of gross tonnage, and the fleet of Hong Kong-registered ships is renowned globally for its good quality.

     

    It highlighted that the consistently low detention rate of Hong Kong-registered ships under worldwide Port State Control inspections at 0.69% is significantly lower than the global average of 3.30%, reflecting Hong Kong’s constant effort in maintaining and enhancing the safety, reliability and credibility of its fleet.

     

    The audit scrutinised Hong Kong in fulfilling its flag, coastal and port obligations.

     

    The audit team appreciated that Hong Kong had well-documented procedures on fulfilling its obligations related to the mandatory IMO instruments, and implemented the relevant requirements through local legislation and guidance dissemination in a timely manner.

     

    The Marine Department (MD) also carried out periodic management reviews as well as internal and external audits for effective implementation of those instruments.

     

    The audit further revealed several areas of positive development and good practices of Hong Kong, which demonstrated a drive to promote safety awareness and a pollution prevention culture among stakeholders in the maritime sector.

     

    One of the good practices is to ensure the compliance of ships flying the Hong Kong flag with the mandatory IMO instruments by requiring their regular and appropriate completion of pre-arrival checklists.

     

    The MD also disseminated useful information through such means as holding regular meetings and seminars with stakeholders, and issuing circulars and Merchant Shipping Information Notes to notify stakeholders of the latest mandatory IMO requirements in a timely manner.

     

    Meanwhile, the audit identified two findings and one observation on areas where Hong Kong could improve, including the need to more comprehensively monitor the communication of mandatory information to the IMO and track the attendance of government surveyors at trainings.

     

    Soon after the audit, the Hong Kong Special Administrative Region Government proposed and took actions, which were accepted by the IMO, to address the findings and observation.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Schools suspended on Jul 11

    Source: Hong Kong Information Services

    The Education Bureau announced today that classes of all day schools will be suspended tomorrow as the weather conditions are expected to remain severe due to the impact of the torrential rain and squally thunderstorms brought by the remnants of Tropical Cyclone Danas.

    The steering committee on handling extreme weather, led by the Chief Secretary, announced the decision in response to the development of weather conditions.

    The move was made to ensure the safety of students, and considering that schools across the city may have already started their summer break, the actual impact of a class suspension on students’ learning and teaching is relatively small.

    The Secondary One registration procedures were originally scheduled for today and tomorrow at the allocated secondary schools. Considering that some parents may have already made arrangements to register at the schools today, the original whole-day registration arrangements for today will remain unchanged.

    If parents choose to register their child at the allocated secondary school today, they should pay attention to the weather conditions and ensure safety. For safety reasons, parents should not bring their children to the school for registration.

    The registration originally scheduled for tomorrow will be rescheduled to July 14. If parents are unable to register in person or through an authorised representative on the above dates, they should contact the allocated secondary school or the Education Bureau’s School Places Allocation Section at 2832 7700 or 2832 7740 to make appropriate registration arrangements.

    Additionally, units under the Social Welfare Department providing child care centre services, services under the Neighbourhood Support Child Care Project, and after school care programmes for pre-primary or primary school children will not be open to the public tomorrow.

    Citizens in need may contact the centres or services units concerned for assistance.

    The Home Affairs Department is ready to activate the Emergency Co-ordination Centre as soon as necessary and open temporary shelters for people in need of temporary accommodation.

    The Drainage Services Department (DSD) has made special arrangements to inspect and carry out necessary clearance at about 240 locations prone to flooding due to blockages. 

    Members of the public are advised to report any street flooding to the DSD by calling the 24-hour drainage hotline at 2300 1110.

    The committee urges people to remain alert, stay away from dangerous places such as rivers and slopes in adverse weather conditions, refrain from water sports, and to pay attention to the latest news released by the Government.

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: NATO Secretary General commends Germany’s role in the Alliance

    Source: NATO

    NATO Secretary General Mark Rutte met Chancellor Friedrich Merz in Berlin on Wednesday (9 July 2025), thanking him for Germany’s leading role in the Alliance, and its support to Ukraine.

    Mr Rutte commended Germany’s resolve, commitment and contributions to our shared security, and its landmark decision to invest significantly more in defence. Highlighting the importance of Germany’s defence industrial base, he said, “your world-class industries and entrepreneurs are capable to ramp up production, innovate and deliver”.

    At a ceremony marking the 70th anniversary of Germany’s accession to NATO, the Secretary General thanked Germany for its contributions to the Alliance.  Speaking in German, and echoing the words of Germany’s first Chancellor, Konrad Adenauer, Mr Rutte recognised that Germany continues to be an “able and reliable” Ally, ready to take on more responsibility.  “When the world becomes more dangerous, and our security is at stake – Germany steps up,” Mr Rutte said.

    While in Berlin, Mr Rutte also met President of the Bundestag Julia Klöckner, Minister for Foreign Affairs Johann Wadephul, parliamentarians from the Defence Committee, and Minister of Defence Boris Pistorius, who hosted the 70th anniversary event at the Ministry of Defence. 

    MIL Security OSI –

  • Global stocks climb on AI and rate cut optimism, unfazed by Trump’s tariff moves

    Source: Government of India

    Source: Government of India (4)

    Global stocks advanced on Thursday, underpinned by optimism around artificial intelligence and the prospect of upcoming interest rate cuts, while investors kept a cautious eye on U.S. President Donald Trump’s ongoing assault on international trade.

    U.S. copper futures widened their premium to the London benchmark overnight after Trump announced plans to impose a 50% tariff on copper imports. He said the levies would come into effect on August 1.

    Trump also threatened a punitive 50% tariff on Brazil’s exports to the U.S. on Wednesday and issued tariff notices to seven minor trading partners.

    The latest tariff moves did little to rattle markets as European stocks gained, with Germany’s DAX up 0.1% and UK’s FTSE 100 rising 1% to their respective all-time highs.

    MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.5%. U.S. stock futures took a breather, with Nasdaq futures down 0.1% after the tech-heavy index closed at a record high on Wednesday.

    The market reaction to Trump’s tariff developments this week was less severe than in April, and Jeff Ng, SMBC’s head of Asia macroeconomic strategy, said investors had grown somewhat “numb” to the ever-changing situation.

    “They know that there is still room for negotiation. A lot of these announcements, they start off with eye-catching numbers, but they are not totally final, and they are still subject to changes. Even if they are implemented, they could also be reversed in the coming few months to year,” he said.

    Meanwhile, investors digested upbeat quarterly results from TSMC that reflected strong demand for the world’s largest contract chipmaker’s products, kept alive by surging interest in artificial intelligence applications.

    TSMC’s report came a day after AI chip giant Nvidia became the world’s first public company to hit a $4 trillion market value. Other tech-related stocks in Korea and Japan further got a boost.

    Also keeping stocks supported were expectations of at least two interest rate cuts by the Federal Reserve this year.

    Minutes released on Wednesday showed “most participants” at the Fed’s meeting last month anticipated rate cuts would be appropriate later this year, with any price shock from tariffs expected to be “temporary or modest.”

    “Our view remains that in the balance of risks between employment and inflation, Fed would be more sensitive to employment than to inflation. Hence, if our view holds, and we get some weakness in the employment numbers over summer, Fed will respond by cutting rates in September,” said Mohit Kumar, an economist at Jefferies.

    DOLLAR EASES

    The dollar was on the back foot on Thursday against the euro, but holding its own against the yen JPY=EBS at 146.35, after a sharp rise earlier this week when Trump slapped Japan with 25% tariffs.

    The euro was up 0.17% to $1.1734 and sterling gained 0.15% to $1.36110.

    An exception was the Brazilian real, which languished near a one-month low at 5.5826 per dollar owing to Trump’s tariff threat on Latin America’s largest economy.

    The real’s volatility gauges spiked to the highest since late April when markets were still trying to get to grips with Trump’s “Liberation Day” tariff threats.

    “Without a clear path yet to de-escalation, the real is likely to continue to trade on a softer footing in the near-term. The initial real sell-off was exacerbated by the unwind of popular carry trades,” Lee Hardman, a senior currency economist at MUFG said.

    “The risk is that carry trades continue to be unwound on the back of heightened trade risks and higher financial market volatility triggering a further reversal of real gains.”

    In cryptocurrencies, bitcoin was pinned near a record high and was last at $111,207, while ether was up 1.8% to $2,790.9.

    Elsewhere, crude prices were steady with Brent futures hovering at $70.2 per barrel, while U.S. crude was flat at $68.33 a barrel.

    Spot gold rose 0.22% to $3,320.59 an ounce.

    (Reuters)

  • OpenAI to release web browser in challenge to Google Chrome

    Source: Government of India

    Source: Government of India (4)

    OpenAI is close to releasing an AI-powered web browser that will challenge Alphabet’s market-dominating Google Chrome.

    The browser is slated to launch in the coming weeks, three of the people said, and aims to use artificial intelligence to fundamentally change how consumers browse the web. It will give OpenAI more direct access to a cornerstone of Google’s success: user data.

    If adopted by the 500 million weekly active users of ChatGPT, OpenAI’s browser could put pressure on a key component of rival Google’s ad-money spigot. Chrome is an important pillar of Alphabet’s ad business, which makes up nearly three-quarters of its revenue, as Chrome provides user information to help Alphabet target ads more effectively and profitably, and also gives Google a way to route search traffic to its own engine by default.

    OpenAI’s browser is designed to keep some user interactions within a ChatGPT-like native chat interface instead of clicking through to websites, two of the sources said.

    The browser is part of a broader strategy by OpenAI to weave its services across the personal and work lives of consumers, one of the sources said.

    OpenAI declined to comment.

    The sources declined to be identified because they are not authorized to speak publicly on the matter.

    Led by entrepreneur Sam Altman, OpenAI upended the tech industry with the launch of its AI chatbot ChatGPT in late 2022. After its initial success, OpenAI has faced stiff competition from rivals including Google and startup Anthropic, and is looking for new areas of growth.

    In May, OpenAI said it would enter the hardware domain, paying $6.5 billion to buy io, an AI devices startup from Apple’s AAPL.O former design chief, Jony Ive.

    A web browser would allow OpenAI to directly integrate its AI agent products such as Operator into the browsing experience, enabling the browser to carry out tasks on behalf of the user, the people said.

    The browser’s access to a user’s web activity would make it the ideal platform for AI “agents” that can take actions on their behalf, like booking reservations or filling out forms, directly within the websites they use.

    TOUGH COMPETITION

    OpenAI has its work cut out – Google Chrome, which is used by more than 3 billion people, currently holds more than two-thirds of the worldwide browser market, according to web analytics firm StatCounter. Apple’s AAPL.O second-place Safari lags far behind with a 16% share. Last month, OpenAI said it had 3 million paying business users for ChatGPT.

    Perplexity, which has a popular AI search engine, launched an AI browser, Comet, on Wednesday, capable of performing actions on a user’s behalf. Two other AI startups, The Browser Company and Brave, have released AI-powered browsers capable of browsing and summarizing the internet.

    Chrome’s role in providing user information to help Alphabet target ads more effectively and profitably has proven so successful that the Department of Justice has demanded its divestiture after a U.S. judge last year ruled that the Google parent holds an unlawful monopoly in online search.

    OpenAI’s browser is built atop Chromium, Google’s own open-source browser code, two of the sources said. Chromium is the source code for Google Chrome, as well as many competing browsers including Microsoft’s Edge and Opera.

    Last year, OpenAI hired two longtime Google vice presidents who were part of the original team that developed Google Chrome. The Information was first to report their hires and that OpenAI previously considered building a browser.

    An OpenAI executive testified in April that the company would be interested in buying Chrome if antitrust enforcers succeeded in forcing the sale.

    Google has not offered Chrome for sale. The company has said it plans to appeal the ruling that it holds a monopoly.

    OpenAI decided to build its own browser, rather than simply a “plug-in” on top of another company’s browser, in order to have more control over the data it can collect, one source said.

    (Reuters)

  • Shravani Mela begins in Deoghar, lakhs of Kanwariyas embark on 108 km pilgrimage

    Source: Government of India

    Source: Government of India (4)

    Shravani Mela commenced on Thursday at Baba Baidyanath Dham in Deoghar, Jharkhand, with lakhs of Kanwariyas thronging the sacred town to begin their month-long pilgrimage during the holy month of Sawan.

    The fair was formally inaugurated at Dumma, on the Jharkhand–Bihar border, in a traditional ceremony marked by Vedic chants. Jharkhand ministers Sudivya Kumar Sonu, Deepika Pandey Singh, and Sanjay Prasad Yadav jointly inaugurated the event.

    Baba Baidyanath Dham, home to Kamna Mahadev, one of the twelve Jyotirlingas of Lord Shiva, is considered one of the holiest Shaivite shrines in India. As per tradition, Kanwariyas fetch holy water from the Uttarvahini Ganga in Sultanganj, Bihar, and undertake a 108-kilometre barefoot pilgrimage to offer it at the Deoghar shrine.

    This annual Kanwar yatra, one of the largest in Asia, covers 108-km route from Sultanganj to Deoghar.

    This year’s pilgrimage began on Guru Purnima, adding to its spiritual significance. The roads were filled with thousands of Kanwariyas chanting “Bol Bam”, creating an electrifying and devotional atmosphere.

    The Jharkhand government has estimated that 50 to 60 lakh devotees from across India and abroad are likely to attend the fair this year.

    To manage the enormous footfall, the state government has made elaborate arrangements for accommodation, security, sanitation, and information dissemination. Tent cities equipped with essential amenities have been established at Kothiya and Baghmara along the Deoghar-Sultanganj route to provide rest stops for pilgrims.

    Facilities such as bathing rooms, toilets, medical camps, and information centres have been set up at key locations throughout the mela zone.

    For the first time, the fair has adopted a digital format, enabling devotees to access real-time updates through QR codes on their mobile phones. A dedicated chatbot service is also available to assist pilgrims with queries.

    Deoghar Deputy Commissioner Naman Priyesh said that in view of the heavy influx of devotees, all VIP, VVIP, and out-of-turn darshan privileges have been suspended for the entire month of Sawan to ensure smooth crowd flow and fairness.

    Additionally, touch worship of the Jyotirlinga has been restricted. Devotees are required to offer holy water through the Argha, a ritual vessel placed inside the temple for this purpose.

    To further assist pilgrims, shuttle services have been launched for those arriving by bus. Holding points, clean drinking water, accommodation facilities, sanitation services, and healthcare camps are being closely monitored by authorities.

    Officials, magistrates, and police personnel have been deployed across the area and instructed to carry out their responsibilities diligently, ensuring a safe and peaceful experience for all devotees.

    (With inputs from IANS)

  • HM Shah chairs Eastern Zonal Council meet in Ranchi, 20 key issues on agenda

    Source: Government of India

    Source: Government of India (4)

    The 27th meeting of the Eastern Zonal Council commenced in Ranchi on Thursday, chaired by Union Home Minister Amit Shah.

    The meeting, being held at Hotel Radisson Blu, brings together top leaders and officials from Jharkhand, Bihar, West Bengal, and Odisha to deliberate on 20 crucial inter-state coordination issues.

    Jharkhand Chief Minister Hemant Soren welcomed Amit Shah on his arrival for the meeting.

    Odisha Chief Minister Mohan Charan Majhi, along with Deputy Chief Minister Pravati Parida and Minister Mukesh Mahaling, Bihar Deputy Chief Minister Samrat Choudhary and Minister Vijay Kumar Chaudhary, and West Bengal Finance Minister Chandrima Bhattacharya, are participating in the deliberations.

    Senior bureaucrats from the four states, including a 15-member IAS-IPS team from Jharkhand, are also attending.

    The agenda includes a wide range of interstate concerns. The Mayurakshi Dam water-sharing dispute between Jharkhand and Bengal tops the chart.

    Apart from that, cost-sharing of the Fulbari Dam under the Upper Mahananda Water Scheme; construction of the Indrapuri Reservoir Project in Bihar; formulation of a comprehensive silt management policy; expansion of banking services to remote villages; timely investigation of cases under the POCSO Act and crimes against women and children; status of fast-track special courts and the Emergency Response Support System (ERSS-112); and delays in the establishment of BSF battalions and sector headquarters due to pending land acquisition in West Bengal are the issues being discussed.

    Additionally, unresolved matters dating back to the bifurcation of Bihar and Jharkhand are expected to be discussed — particularly those related to pension liabilities.

    The Union Home Ministry had earlier directed the Accountants General of both states to reconcile data, following disputes over inconsistencies in pension payment records.

    Key decisions on these issues are likely to be made during the day-long meeting.

    (IANS)

  • MIL-OSI United Kingdom: IBCA Community Update, 09 July 2025

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    IBCA Community Update, 09 July 2025

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  • MIL-OSI United Kingdom: Toxic lead ammunition banned to protect Britain’s countryside

    Source: United Kingdom – Executive Government & Departments

    Press release

    Toxic lead ammunition banned to protect Britain’s countryside

    New ban on use of lead in ammunition to protect iconic wildlife and clean up the nation’s waterways

    Red kite perched in a tree

    Red kites and white-tailed eagles will receive greater protection thanks to new restrictions on the use of lead in ammunition, Environment Minister Emma Hardy announced today (Thursday 10 July 2025).

    To protect iconic British wildlife and clean up the nation’s waterways, new measures will ban shot containing more than 1% lead and bullets with a lead content of more than 3%. Beyond limited exemptions, these types of ammunition will no longer be sold to the public.

    The ban will prevent the release of an estimated 7,000 tonnes of the toxic metal into fields, forests and wetlands each year. Up to 100,000 wildfowl, including ducks, swans and waders, die from lead poisoning annually, with birds often confusing the scattered shot for grit and consuming it.

    Evidence from the Health and Safety Executive shows lead poses a risk to at least 1 million birds over the coming decades if usage continues at its current rate, while around 40,000 birds of prey such as red kites and white-tailed eagles are at risk from ingesting lead through carrion.

    Introducing restrictions will also stop lead from contaminating soil and leaching into rivers when guns are discharged and spread the harmful metal, ensuring ecosystems thrive for both wildlife and people alike.

    Environment Minister Emma Hardy said:

    Britain is a proud nation of nature lovers, but our rivers are heavily polluted, and majestic birds are declining at an alarming rate.

    This new ban on lead in ammunition for most uses will help reverse this – rejuvenating pride in our countryside by protecting precious birdlife and cleaning up rivers.

    Non-lead alternatives are readily available, and we’ll continue to work closely with the shooting sector throughout this transition.

    Following extensive public engagement, a three-year transition period will support the shooting and hunting sectors to shift to more environmentally friendly alternatives. There will also be a two-year period for outdoor shooting ranges where lead is used to implement measures that prevent pollution from entering the environment.

    Alternatives to lead shot have become more efficient and widely available in recent years, with steel and tungsten-based shot being two popular options. The government will continue to engage with the shooting industry to support the transition to alternative ammunition types.

    In December 2024, the Health and Safety Executive published their Final Opinion proposing restrictions on the supply and outdoor uses of lead in ammunition – and the government has now taken action to reduce toxic substances from entering the environment.

    As part of the restrictions, there will be exemptions in place for the military, police, elite athletes, outdoor target shooting ranges with risk management measures in place, museum collections and other minor uses. Small calibre bullets for live quarry shooting – the outdoor shooting of live animals – and airguns are not in scope of the restriction.

    Updates to this page

    Published 10 July 2025

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  • MIL-OSI United Kingdom: Nista report and safety flyer published

    Source: United Kingdom – Executive Government & Departments

    News story

    Nista report and safety flyer published

    Man overboard from the lone-operated creel fishing vessel Nista (LK121) north of Belnahua, north-west Scotland, with loss of 1 life.

    Today, we have published our accident investigation report into the fatal man overboard from the lone-operated creel fishing vessel Nista (LK121) north of Belnahua, north-west Scotland on 13 December 2023.

    The report, available via this link, contains details of what happened and subsequent actions taken.

    A safety flyer to the fishing industry has also been produced with this report.

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  • MIL-OSI United Kingdom: UK and France partner on navigation systems to protect critical infrastructure from hostile threats

    Source: United Kingdom – Government Statements

    Press release

    UK and France partner on navigation systems to protect critical infrastructure from hostile threats

    UK and French researchers join up to shield critical infrastructure, including power supplies and emergency services, with more resilient navigation and timing systems. 

    • UK and French researchers join up to shield critical infrastructure, including power supplies and emergency services, with more resilient navigation and timing systems. 
    • Positioning, Navigation, and Timing systems are critical to everything from banking to transport – and the Ukraine war has shown how these systems can be targeted by malign actors. 
    • Partnerships on AI supercomputing infrastructure, and AI research, to be agreed when French President and UK Science and Tech Secretary meet in London. 

    UK and French experts will work more closely to increase the resilience of both countries’ critical infrastructure to the signal-jamming seen in the war in Ukraine, as part of a suite of joint science and tech work being announced today (Thursday 10 July).  

    From our electricity infrastructure, to transport, to financial transactions, the tech we rely on for everyday life depends on reliable Positioning, Navigation and Timing (PNT), often provided via satellites. The conflict in Ukraine has shown how new technologies – in some cases, just small hand-held devices – can be used to disrupt PNT services, potentially causing major disruption to the vast areas of life and the economy reliant on them. 

    As part of a raft of UK-France joint science and tech efforts being announced today, researchers from both countries will work together on technologies complementary to the likes of GPS, which are highly resistant to this sort of jamming.  

    An example is e-LORAN, a program driven by the UK government, working closely with the National Physical Laboratory and private sector companies. The system uses ground-based radio towers, which are much more challenging to block, for a reliable “backup” to GPS, so that UK infrastructure can keep running even when GPS fails.  

    The UK’s Science and Tech Secretary used a joint visit to Imperial College London, with President Macron, to set out how this sort of collaboration makes both the UK and France stronger and safer. Whilst speaking at Imperial, Peter Kyle also pointed out the tens of millions of pounds in investment being brought into the British tech sector through UK-French trade, as well as the new jobs and growth that this partnership creates.

    These are efforts that will bolster our economic and national security, which are foundational pillars of the Plan for Change. 

    UK Science and Technology Secretary, Peter Kyle said: 

    France and the UK both have huge ambitions for technology to boost economic growth and strengthen national security. It is vital we work with natural partners like our French neighbours in these endeavours, particularly as the threats from hostile state actors only grows.

    Today we build on the Entente Cordiale with an Entente Technologique, celebrating and renewing our longstanding and historic partnership so that together we can face down the challenges of tomorrow.

    Additionally, the UK and France are launching a partnership on supercomputing. The partnership will be led by the Bristol Centre for Supercomputing, the home of Isambard-AI, and the French computing centre GENCI, who lead France’s AI Factory.  

    Closer ties between both nations’ world-leading compute power, and sharing AI best practice, will turbocharge the breakthroughs in AI, transforming public services and improving lives. These efforts build on the AI Opportunities Action Plan, the UK government’s blueprint to fuel the use of AI across the economy. 

    This builds on the strong existing UK-France cooperation on AI. The UK’s AI Security Institute and France’s INESIA have committed to further technical workshops to deepen their collaboration on frontier AI research, in order to support our national security. 

    Some of the UK and France’s leading research institutions are also committing to closer work. Collaboration agreements were signed today when President Macron and Science and Tech Secretary Peter Kyle visited Imperial College London, where they witnessed first-hand some of the cutting-edge uses of AI being pioneered in the UK, from health to clean energy.

    The spotlight will shine on the vast opportunities for UK-France science and tech collaboration again on Friday, when the UK’s AI Minister Feryal Clark and her French counterpart Minister Clara Chappaz will tour Diamond Light Source in Oxford.

    Diamond is one of the most advanced scientific facilities in the world. Researchers here are harnessing light 10 billion times brighter than the sun to study new scientific samples, like previously unknown virus structures, to pioneer new medicines and treatments for diseases. 

    Notes to editors

    The 3 UK-France science and technology agreements being signed are between: 

    • Imperial and CNRS Ayrton Blériot Engineering Lab (ABEL)
    • University College London (UCL) and National Institute for Research in Digital Science and Technology (Inria)
    • Oxford-Cambridge and HEC, Institut Polytechnique de Paris, Université Paris-Saclay

    UK-French export and investment announcements

    British tech unicorns are winning tens of millions of pounds in significant contracts with French corporates, driving jobs and growth at home. This includes Synthesia’s new partnership with Decathlon to create a pioneering AI avatar lab which the global sports retailer will use to communicate with customers and employees, building on Synthesia’s existing work with over half of France’s CAC40 (equivalent to FTSE 100). Other deals include ElevenLabs’ collaboration with M6 and TV5 Monde and Darktrace’s contract with GL Events, a French major events operator.

    BT’s operations in France totalled approximately £130 million last financial year, connecting more than 80 French-headquartered companies, from Alstom to Michelin. BT has supported French telecoms, communications, cyber security and banking operations for 55 years. BT has invested more than £24 billion domestically so far this decade, with plans to invest a further £20 billion by 2030. BT’s investment into digital infrastructure projects also boosts the UK’s attractiveness for French investment and act as an enabler of British exports to France.  

    Thales, in conjunction with partners, is planning £40 million of AI-focussed R&D investment as part of its CortAIx UK AI Accelerator – which will employ 200 people and serve as a focal point for Thales’ AI innovation in the UK. This initiative will further enhance AI cooperation between France and the UK, ss well as help both countries to stay ahead of evolving threats, unleashing the potential of AI to increase mission success for both countries.

    Comand AI are investing £35 million over the next 5 years to set up an office in the UK, in their first step to becoming a pan-European defence company. This investment will create around 40 highly skilled jobs in tech, bringing the best of software engineering to defence. These jobs would represent half of their global engineering team. They aim to build the future of defence technology between the UK and France, from capability assessment to mission planning and execution for our Allied nations.

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  • MIL-OSI Russia: HSE scientists have discovered how disruptions in brain networks affect cognitive and social behavior in autism

    Translation. Region: Russian Federal

    Source: State University “Higher School of Economics” –

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  • MIL-OSI Submissions: Cooling and antioxidants could help prevent hair loss during chemotherapy – new research

    Source: The Conversation – UK – By Nik Georgopoulos, Associate Professor in Cell Biology and Transforming Lives Fellow, Sheffield Hallam University

    Hair loss is one of the most feared and traumatic side effects of cancer chemotherapy treatment, both for patients themselves and their loved ones, as it can visibly represent the “face of cancer”.

    For most patients, maintaining their hair is not just about vanity – it’s about identity, dignity and control. That’s why scalp cooling caps, or (cold caps), often worn during chemotherapy, have become an increasingly common sight in cancer wards.

    Chemotherapy drugs work by killing rapidly dividing cancer cells – unfortunately, they cause collateral toxicity to rapidly dividing healthy cells in our body, like those in the roots of our hair. This leads to hair follicle damage and ultimately, hair loss.

    Automated scalp cooling devices are used to chill the scalp just before, during and for a short time after chemotherapy treatment. Our previous research showed that cooling works through several mechanisms. It reduces blood flow to the scalp, meaning less of the drug reaches the hair follicles.

    It lowers cell activity and metabolism, which makes hair cells less likely to react to chemotherapy. Also, cooling directly stops drugs from entering follicle cells. But despite its potential, scalp cooling doesn’t work for all patients. Until now, we didn’t really know why.

    Our new research shows that temperature precision might be fundamental in the ability of scalp cooling to prevent hair loss. We used human hair follicles grown as “mini organs” in the lab to simulate what happens during chemotherapy.

    When we treated hair follicles with chemotherapy drugs, we found that cooling, quite remarkably, can prevent the toxic effects of chemotherapy drugs. However, there is a catch: it only works if hair follicles are cooled to the right level. If not, the protection is not adequate to “rescue” them from the toxicity of chemotherapy.

    More specifically, when cooled to an optimal temperature of 18°C, hair follicles were completely protected from chemotherapy drug-induced damage. However, when the temperature was higher – say, 26°C – the protection dropped dramatically. This finding may explain why scalp cooling doesn’t work for all patients. In real-world settings, scalp temperature can vary due to differences in equipment, head shape, blood flow, or hair type. Some patients may not reach the “protective threshold”.

    But, here’s the exciting part: if the temperature isn’t cold enough, we have found a way to compensate for this by adding antioxidants, and that makes a huge difference. Together, cooling and antioxidant form a strong protective combination – offering hair follicles a powerful, double layer of defence.

    So, how do the antioxidants help? Chemotherapy drugs generate harmful molecules called reactive oxygen species, or ROS, which contribute to cell damage. By adding antioxidants like N-Acetylcysteine or Resveratrol – even at sub-optimal cooling temperatures – we saw a remarkable improvement in protection. In fact, the combined effect of antioxidants and moderate cooling mimicked the protection seen with optimal cooling alone.

    Although our study was conducted in the lab, it paves the way for improving the outcomes for patients undergoing chemotherapy. The findings suggest that combining antioxidants with existing scalp cooling could make the treatment more reliable and accessible.

    We’re now developing a topical antioxidant treatment designed to reach the vulnerable parts of hair follicles in the scalp. The idea is to apply this lotion during scalp cooling, to boost the follicle’s defenses. Clinical trials are being planned to test this combined approach in patients.

    Our new research is a milestone, because with the help of antioxidants, we may now be able to offer effective scalp cooling-based hair protection more widely and more consistently – even when conditions aren’t perfect. The combinatorial approach is based on over a decade of research into how chemotherapy damages hair – and how that damage can be stopped.

    Hair loss during chemotherapy is deeply distressing. If we can improve the tools we already have, such as scalp cooling, and make them work better for more people, we can help preserve not just hair, but dignity, normality and quality of life during an incredibly difficult time.

    The future of supportive cancer care isn’t just about treating the disease. It’s also about helping people feel like themselves and maintain their dignity while they fight it. This new approach has the potential to “change the face of cancer” for patients worldwide.

    Nik Georgopoulos is a member of the scientific advisory board of Paxman Coolers Ltd, but receives no consultancy-related income. He holds a research collaboration with and his laboratory receives funding from Paxman Coolers Ltd.

    – ref. Cooling and antioxidants could help prevent hair loss during chemotherapy – new research – https://theconversation.com/cooling-and-antioxidants-could-help-prevent-hair-loss-during-chemotherapy-new-research-259722

    MIL OSI –

  • MIL-OSI Asia-Pac: Invest Hong Kong seminar promotes in-depth exchanges between fintech enterprises and investment community (with photos)

    Source: Hong Kong Government special administrative region

         The Invest Hong Kong (InvestHK) seminar – Meeting Our Leading VCs in Hong Kong – concluded today (July 10), gathering over 200 fintech enterprise founders, venture capital (VC) leaders and industry experts to help inject new vitality into the future prosperity of Hong Kong’s fintech ecosystem.
          
         InvestHK has been linking global fintech enterprises with local and international capital resources. Hong Kong’s capital environment has shown strong vitality and new opportunities recently. The Government is providing public funding support and introducing measures to accelerate the development of fintech and related areas such as Web3 and AI. Moreover, as of the end of June 2025, the investment amount brought by the New Capital Investment Entrant Scheme into Hong Kong is expected to be over HK$46.4 billion, reinforcing Hong Kong’s standing as a pre-eminent international investment hub.  
          
         For private capital, Hong Kong’s advantages are becoming increasingly prominent. Hong Kong has the second-largest capital pool in the Asia-Pacific region, after only the Mainland, with managed private equity funds over US$233.9 billion as of the first half of 2024. As the largest hedge fund centre and cross-border wealth management centre in Asia, Hong Kong continues to attract global capital. Since the Hong Kong Special Administrative Region Government issued the Policy Statement on Developing Family Office Businesses in Hong Kong, the family office business has developed rapidly. There are more than 2 700 single-family offices operating in Hong Kong, and the scale of managed assets continues to rise. New listing volumes on the Stock Exchange of Hong Kong jumped around eight times to US$14 billion in the first half of 2025, fully demonstrating the attractiveness of Hong Kong’s financial market.
          
         This seminar created a valuable opportunity for start-ups and growing enterprises to connect with well-known VC leaders. At the seminar, experienced investors shared market patterns and trends in Hong Kong, Southeast Asia, the Middle East and other markets. For VCs, through the Global Fast Track programme and the invitation-only online business matching platform Fast-Track Connect, they have accelerated access to high-quality deal flows and strengthened strategic investment networks.
          
         Director of MindWorks Capital Mr Jeffrey Wu highlighted Hong Kong’s unique advantages for fintech startups, namely a transparent regulatory regime, deep offshore capital markets, and a trusted legal system, which make it an ideal springboard for regional and global expansion. Founding Partner of Wings Capital Ventures Mr Jonathan Wu said that as connectivity between Mainland and Hong Kong continues to accelerate, demand for cross-boundary financial services is growing at a remarkable pace. The Mainland’s strengths, including its abundant software development resources and rapid innovation cycles paired with Hong Kong’s international market and diverse application scenarios, create a promising synergy.
          
         The Managing Partner of 01Fintech Limited, Mr Kenny Man, emphasised that the Southeast Asian market has huge potential, and fintech enterprises should seize the opportunity to expand their business there. He also noted that the event provided valuable exposure to high-potential fintech innovations, reinforcing Hong Kong’s role as a global fintech hub with rich cross-border opportunities. These insights provide valuable reference for 01Fintech’s investment strategy in the region. Founding General Partner of Transcend Capital Partners Ms Winnie Leung also mentioned that Hong Kong is truly where East meets West, offering a vibrant fusion of cultures and business opportunities. With a substantial amount of capital available, it stands as an ideal hub for exciting venture capital projects.  
          
         In addition, the Head of FinTech of Cyberport, Mr Victor Yim, shared the experiences and achievements of Cyberport in supporting fintech and Web3 enterprises. The Senior Manager, New Ventures Development of Hong Kong Science and Technology Parks Corporation (HKSTPC), Ms Josephine Chan, introduced the innovative resources and development platforms provided by HKSTPC for enterprises.
          
         The Global Head of Financial Services, FinTech & Sustainability at InvestHK, Mr King Leung, concluded, “This seminar has not only built a bridge for exchanges and co-operation among Hong Kong’s fintech industry, it has also brought new impetus to shape the global fintech funding landscape. Through seminars like this, enterprises and investors can conduct in-depth exchanges, jointly seize market opportunities, and achieve mutual benefits and win-win results. This promotes the development of the fintech industry and further consolidates Hong Kong’s leading position in the global fintech field. We will continue to organise such high-quality activities, both online and offline, to contribute to the development of the industry.”

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Prof Lo Chung-mau to visit Nanjing

    Source: Hong Kong Information Services

    Secretary for Health Prof Lo Chung-mau will depart for a visit to Nanjing tomorrow and return to Hong Kong the following day.

     

    During the visit, Prof Lo will meet health officials of Jiangsu Province and introduce the latest developments of healthcare policies in Hong Kong to them.

     

    He also plans to attend the 13th Nanjing Academic Symposium on Hepatobiliary Surgery & Liver Transplantation with the aim of deepening exchanges and collaboration on healthcare related areas with the Mainland.

     

    As part of Prof Lo’s agenda, he will visit pharmaceutical companies and hospitals there to introduce the latest progress in enhancing Hong Kong’s drug approval mechanism and registration regime, and share the city’s experiences in strengthening hospital management and services.

     

    During his absence, Under Secretary for Health Libby Lee will be Acting Secretary.

    MIL OSI Asia Pacific News –