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Category: AM-NC

  • MIL-OSI Security: Pacific Partnership 2025 Conducts Mission Stop in Nuku’Alofa, Tonga, June 25, 2025 [Image 8 of 9]

    Source: United States Navy (Logistics Group Western Pacific)

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    NUKU’ALOFA, Tonga (June 25, 2025) U.S. Army Capt. Levi Jackson, center, assigned to 72nd Medical Detachment Veterinary Service Support, distributes participation prizes to students of the Acts Community School during a pet ownership and care lecture as part of Pacific Partnership 2025 in Nuku’Alofa, Tonga, June 25, 2025. Now in its 21st iteration, the Pacific Partnership series is the largest annual multinational humanitarian assistance and disaster management preparedness mission conducted in the Indo-Pacific. Pacific Partnership works collaboratively with host and partner nations to enhance regional interoperability and disaster response capabilities, increase security and stability in the region, and foster new and enduring friendships in the Indo-Pacific. (U.S. Navy photo by Mass Communication Specialist 2nd Class Moises Sandoval/Released)

    Date Taken: 06.25.2025
    Date Posted: 06.26.2025 00:03
    Photo ID: 9132595
    VIRIN: 250625-N-ED646-5990
    Resolution: 7427×4967
    Size: 7.86 MB
    Location: NUKU’ALOFA, TO
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    This work, Pacific Partnership 2025 Conducts Mission Stop in Nuku’Alofa, Tonga, June 25, 2025 [Image 9 of 9], by PO2 Moises Sandoval, identified by DVIDS, must comply with the restrictions shown on https://www.dvidshub.net/about/copyright.

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  • MIL-OSI Security: Pacific Partnership 2025 Conducts Mission Stop in Nuku’Alofa, Tonga, June 25, 2025 [Image 8 of 9]

    Source: United States Navy (Logistics Group Western Pacific)

    Issued by: on

    NUKU’ALOFA, Tonga (June 25, 2025) U.S. Army Capt. Levi Jackson, center, assigned to 72nd Medical Detachment Veterinary Service Support, distributes participation prizes to students of the Acts Community School during a pet ownership and care lecture as part of Pacific Partnership 2025 in Nuku’Alofa, Tonga, June 25, 2025. Now in its 21st iteration, the Pacific Partnership series is the largest annual multinational humanitarian assistance and disaster management preparedness mission conducted in the Indo-Pacific. Pacific Partnership works collaboratively with host and partner nations to enhance regional interoperability and disaster response capabilities, increase security and stability in the region, and foster new and enduring friendships in the Indo-Pacific. (U.S. Navy photo by Mass Communication Specialist 2nd Class Moises Sandoval/Released)

    Date Taken: 06.25.2025
    Date Posted: 06.26.2025 00:03
    Photo ID: 9132595
    VIRIN: 250625-N-ED646-5990
    Resolution: 7427×4967
    Size: 7.86 MB
    Location: NUKU’ALOFA, TO
    Web Views: 0
    Downloads: 0

    PUBLIC DOMAIN  

    This work, Pacific Partnership 2025 Conducts Mission Stop in Nuku’Alofa, Tonga, June 25, 2025 [Image 9 of 9], by PO2 Moises Sandoval, identified by DVIDS, must comply with the restrictions shown on https://www.dvidshub.net/about/copyright.

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  • MIL-Evening Report: The ARIA charts are about to undergo a big change. It could be a boost for local artists

    Source: The Conversation (Au and NZ) – By Catherine Strong, Associate Professor, Music Industry, RMIT University

    The Australian Recording Industry Association (ARIA), the organisation responsible for collating and publishing Australia’s music charts, has just announced the biggest overhaul of its methods in more than a decade.

    From September, the ARIA charts will be divided according to the release date of entries. Anything older than two years will be moved into a new “ARIA on replay” chart, with the exception of some music re-entering the charts after more than a decade.

    The stated aim of the reforms is to better connect Australian audiences with new, and particularly Australian, music. They are part of a series of interventions from different groups aimed at solving the nation’s ongoing music “crisis”.

    Why is this happening?

    ARIA is responding to two related trends through implementing this new chart system.

    The first is that the charts are increasingly dominated by old “catalogue” music. Creative Australia reports the ARIA’s Top 100 charts went from having almost 100% new singles (less than two years old) in 2018, to 70% new singles in 2024.

    This is related to a fundamental change in what is being counted.

    In 2014, ARIA expanded its sources from point-of-sale data (such as CD sales and iTunes downloads) to include plays on streaming services (such as Spotify and YouTube), which are now the most popular means of music consumption.

    People will typically buy a physical/iTunes single or album once. But they might listen to a song on Spotify hundreds of times, and each of these listens count as far as the ARIA charts are concerned.

    This explains the resurgence of old releases that find new audiences through media (such as Stranger Things boosting Kate Bush’s Running Up That Hill), as well as perennial favourites that never seem to be dislodged (Fleetwood Mac’s Rumours album has been in the ARIA Top 50 albums chart for more than 400 weeks).

    The second trend is the decline of Australian music in the charts. Research shows the ARIA’s singles and albums charts have become more homogeneous in recent decades, rather than more diversified.

    Artists from North America and the United Kingdom are dominating Australian charts more than ever. Many of them sit in the charts for extended periods, at the expense of homegrown talent.

    How streaming platforms changed the game

    A major challenge for artists on streaming platforms is discoverability, or visibility.

    Decisions made by platform-employed playlist curators and AI algorithms aren’t well understood, and are hard to influence. Yet they make a huge difference to how many people will encounter a piece of music.

    The inclusion of streaming data in the ARIA charts back in 2014 was presented as a way to more accurately assess what people were listening to.

    This new plan to separate old and new releases has a more interventionist agenda, attempting to “remove barriers for new Australian music”.

    It can be seen as a response to the overarching narrative of a “crisis” plaguing the Australian music industry – one which extends to existential challenges for live music, and the careers of musicians and other industry workers.

    The ARIA’s decision to put their finger on the scales of chart success shows how pressing this crisis narrative has become.

    What difference will it make?

    Even if Australian artists are better represented in future ARIA charts, material challenges will remain.

    Actual sales and streams may remain relatively low. Even with millions of streams, the value returned to artists is often too small to maintain a living.

    For most artists, a sustainable music career requires that visibility be translated into other revenue sources, such as live performances, merchandise sales, and media licensing deals.

    That said, ARIA’s aim of increasing discoverability for local acts seems likely to have some pay-off. Acts with their names in the new charts will enjoy extra visibility and prestige. If even a small number of opportunities arise from this, it could make a big difference to them, the local industries surrounding them, and the local audiences that will discover them.

    ARIA’s intervention is part of a patchwork of responses from industry, government, and communities to Australia’s music woes. Another recent response came from a New South Wales government scheme which will reward overseas headliners (through reduced venue fees) for including an Australian opening act in their show.

    State and federal governments are also investing in local music development and export. The surprising exception to this is previous trailblazer Victoria, which recently cut almost all contemporary music funding.

    ARIA’s new approach is emphasising the message that Australian music should be valued. Tracking how this approach plays out – as well as which Australian artists benefit – will help ensure a healthy music ecosystem in the future.

    Catherine Strong has received funding from the Victorian Music Development Office.

    Ben Green receives funding from the Australian Research Council and the Australasian Performing Right Association.

    – ref. The ARIA charts are about to undergo a big change. It could be a boost for local artists – https://theconversation.com/the-aria-charts-are-about-to-undergo-a-big-change-it-could-be-a-boost-for-local-artists-259788

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Magpies may not be a pesky Australian import – new research finds their ancestors thrived in NZ a long time ago

    Source: The Conversation (Au and NZ) – By Vanesa De Pietri, Senior Research Fellow in Palaeontology, University of Canterbury

    Shutterstock/Russ Jenkins

    For many New Zealanders, the Australian magpie is a familiar, if sometimes vexing, sight. Introduced from Australia in the 1860s, magpies are known for their territorial dive-bombing during nesting season, which has cemented their reputation as an unwelcome import.

    But our new research reveals a fascinating twist in this narrative.

    For more than two decades, we have been unearthing fossils from sites near St Bathans in Central Otago. These sites, once at the bottom of a large prehistoric lake, offer the only significant insight into Aotearoa New Zealand’s land vertebrates from about 16 to 19 million years ago.

    This unique window into the past has recently revealed fossils belonging to an ancient relative of the Australian magpie. This discovery suggests magpies have a much deeper connection to Aotearoa than previously thought, challenging common perceptions about their “Aussie immigrant” status.

    Together with fossils of other songbirds from St Bathans, these discoveries reshape our understanding of what it means for a species to be “native”. They paint a picture of a dynamic, ever-changing land, rather than a static pre-human ecosystem.

    An ancient relative

    We named the species we describe in our research the St Bathans currawong (Miostrepera canora). It lived in New Zealand about 19 to 16 million years ago during the Early Miocene.

    This bird, roughly the same size as today’s Australian magpie, was a cracticine – a group of songbirds that includes modern currawongs, magpies and butcherbirds. Its discovery challenges the very notion of what is “native” or “introduced” on a geological timescale.

    We often regard magpies as an undesirable Australian species that lacks a place in the New Zealand ecosystem. However, its close relatives did live here in the past, and likely did so until a cooling climate limited their habitat near the end of the Miocene, about five million years ago.

    The pied currawong is native to eastern Australia and Lord Howe Island. It is one of three currawong species in the genus Strepera and closely related to butcherbirds and Australian magpies.
    D. Gordon E. Robertson, CC BY-SA

    The presence of this ancient magpie ancestor strongly suggests an over-water dispersal event from Australia to Zealandia early in the evolution of the magpie-currawong group.

    We propose this colonisation was likely helped by a diverse subtropical or warm-temperate flora then present in New Zealand. This vegetation created a hospitable environment for species arriving from across the Tasman.

    Currawongs eat a wide variety of fruits, insects and small animals. New Zealand’s Miocene flora included many fruit-bearing trees, of which puriri and taraire are two survivors, and offered abundant food.

    New Zealand’s ever-shifting ecosystems

    Our research at the St Bathans fossil sites reveals a past far from a static, unchanging paradise prior to human arrival.

    We know from numerous pollen studies that New Zealand’s forests were changing continuously for millions of years. This continual reworking of the composition and distribution of forests challenges the common conservation aim to return New Zealand to a pre-human ecological state.

    Indeed, during the Miocene, New Zealand’s forests would have been unrecognisable to modern eyes. They boasted numerous eucalypts, laurels and casuarinas – plants more typical of Australian forests in Queensland today. This rich floral diversity supported a broader range of fauna, including the newly described currawong, illustrating how different ancient Aotearoa was.

    Authors Vanesa De Pietri and Trevor Worthy excavating fossils at the St Bathans site in Central Otago.
    Paul Scofield, CC BY-SA

    A symphony of ancient songbirds

    Further research by our team on other fossil songbirds (of the bird order passeriformes) from St Bathans paints an even richer picture of ancient avian life.

    Our analysis of the diversity of tiny leg bones indicates the Early Miocene New Zealand bush had significantly more kinds of songbirds than it did just before human arrival.

    Our studies demonstrate the presence of potentially up to 17 different songbirds in the Early Miocene fauna. This ancient choir included species varying in size from a large honeyeater (of the bird family Meliphagidae), which was bigger than today’s tūī, to a tiny New Zealand wren. Several different families are also represented.

    These findings suggest Zealandia had a far greater diversity of songbirds during the Early Miocene than in the Holocene (past 11,000 years).

    The legacy of Miocene climate cooling

    Why did these diverse ancient songbirds, including the St Bathans currawong, disappear?

    Research points to a dramatic global climate shift. Starting around 13 million years ago, during the later part of the Middle Miocene, New Zealand experienced a period of rapid cooling. This profound climatic change triggered a drastic loss in floral diversity throughout the Middle and Late Miocene.

    Many plants that thrived in warmer climates went extinct. This loss of plant life had devastating cascading effects on birds. The disappearance of numerous fruiting trees meant the decline and eventual local extinction of birds such as currawongs and certain pigeons that relied on these food sources.

    Lower habitat complexity and fewer kinds of food led to a significant decrease in the number of songbird species.

    The story of the St Bathans currawong and the rich songbird diversity of ancient New Zealand serves as a powerful reminder that ecosystems are not static. They are constantly evolving, shaped by climatic shifts, geological events and dispersal across the ocean.

    Understanding this deep history allows us to view concepts such as “native” and “introduced” with more nuance. We then appreciate that the biodiversity we have today is but one snapshot in a long, dynamic and ever-unfolding story.

    Change is to be expected and ongoing, as seen in the newest of New Zealand’s native birds – the barn owl and Australian wood duck – which self-introduced in the past decade.

    Vanesa De Pietri receives funding from the the Royal Society Te Apārangi Marsden Fund.

    Paul Scofield receives funding from the Royal Society of New Zealand.

    Trevor H. Worthy received funding from the ARC for this project several years ago.

    – ref. Magpies may not be a pesky Australian import – new research finds their ancestors thrived in NZ a long time ago – https://theconversation.com/magpies-may-not-be-a-pesky-australian-import-new-research-finds-their-ancestors-thrived-in-nz-a-long-time-ago-258795

    MIL OSI Analysis – EveningReport.nz –

  • India’s Defence Minister rejects coexistence of terror and peace at SCO Summit

    Source: Government of India

    Source: Government of India (4)

    Defence Minister Rajnath Singh has called for united and decisive action against terrorism and the spread of weapons of mass destruction (WMDs) in the possession of non-state actors and terrorist groups during his address at the Shanghai Cooperation Organisation (SCO) Defence Ministers’ Meeting in China’s Qingdao.

    He underlined that peace and prosperity cannot co-exist with terror and highlighted radicalisation, extremism and a growing trust deficit as the foremost challenges facing the region.

    “I believe that the biggest challenges that we are facing in our region are related to peace, security and trust deficit. And the root cause of these problems is increasing radicalisation, extremism and terrorism,” Singh said.

    “Peace and prosperity cannot co-exist with terrorism and proliferation of Weapons of Mass Destruction (WMDs) in the hands of non-state actors and terror groups,” he said, stressing that only a collective and resolute stand can ensure safety and security for all.

    The Defence Minister said that it is “imperative that those who sponsor, nurture and utilise terrorism for their narrow and selfish ends must bear the consequences.” The Defence Minister warned that nations using cross-border terrorism as a tool of state policy must face consequences.

    “Some countries use cross-border terrorism as an instrument of policy and provide shelter to terrorists. There should be no place for such double standards. SCO should not hesitate to criticise such nations,” he asserted.

    Reiterating India’s zero tolerance towards terrorism, Singh said, “India’s zero tolerance for terrorism is manifest today through its actions. This includes our right to defend ourselves against terrorism. We have shown that epicentres of terrorism are no longer safe, and we will not hesitate to target them.”

    Highlighting the need for global action to prevent the radicalisation of youth, Singh said the SCO’s Regional Anti-Terrorist Structure (RATS) has played a key role in coordinating counter-radicalisation efforts.

    He added that the joint statement issued during India’s chairmanship of the SCO Council of Heads of State on ‘Countering Radicalisation leading to Terrorism, Separatism and Extremism’ reflects the organisation’s shared commitment.

    Singh urged member states to act against the use of modern technology by terrorists, particularly the use of drones for smuggling weapons and narcotics.

    “In our interconnected world, traditional borders are no longer the sole barriers against threats. Instead, we face an intricate web of challenges that range from transnational terrorism and cyber-attacks to hybrid warfare,” he said.

    “These threats do not respect national boundaries, and they demand a unified response rooted in transparency, mutual trust, and collaboration.”

    Recalling the April 22 Pahalgam terror attack, in which 26 tourists were killed by ‘The Resistance Front’, an offshoot of the Pakistan-based UN-designated terror group, Lashkar-e-Taiba, Rajnath Singh said the pattern of the attack mirrored previous strikes by LeT in India.

    “In exercising its right to defend against terrorism and pre-empt as well as deter further cross-border terrorist attacks, India on May 7, 2025, successfully launched Op Sindoor to dismantle cross-border terrorist infrastructure,” he said.

    Singh called for accountability for those behind terrorist acts.

    “We reiterate the need to hold the perpetrators, organisers, financiers and sponsors of reprehensible acts of terrorism, including cross-border terrorism, accountable and bring them to justice. Any acts of terrorism are criminal and unjustifiable regardless of their motivation, whenever, wherever and by whomever committed. SCO members must condemn this evil unequivocally,” he said.

    The Defence Minister underscored the importance of multilateralism, emphasising India’s belief in dialogue and cooperation to prevent conflicts.

    “India believes that reformed multilateralism can help build cooperation to prevent conflict between countries by creating mechanisms for dialogue and collaboration. No country, however large and powerful, can manage alone,” he said, invoking the ancient Indian ethos of ‘Sarve Jana Sukhino Bhavantu’ (May all people be happy).

    He reiterated India’s consistent support for peace and stability in Afghanistan.

    “Our immediate priorities in Afghanistan include providing humanitarian assistance to the Afghan people and contributing to Afghanistan’s overall developmental needs. As Afghanistan’s largest regional development partner, India continues to implement capacity-building initiatives for the Afghan people,” Singh said.

    He concluded with a call for greater cooperation among SCO members, stating that India supports “greater cooperation and mutual trust among SCO members. We should collectively aspire to fulfil the aspirations and expectations of our people as well as tackle today’s challenges. We must all be in lockstep in our endeavour to strengthen stability and security in our neighbourhood.” (IANS)

  • MIL-OSI Russia: NSU entered the top 5 best universities in Russia in the Interfax group rating

    Translation. Region: Russian Federal

    Source: Novosibirsk State University – Novosibirsk State University – The Interfax Group presented the 16th annual National University Ranking for 2025. Novosibirsk State University entered the top 5 best universities in Russia, second only to Moscow universities such as Moscow State University, MEPhI, MIPT and HSE. Compared to 2024, NSU rose two positions: from 7th to 5th place, ahead of TSU and St. Petersburg State University.

    The activities of 389 Russian universities were assessed during the preparation of the rating. The rating includes all the country’s high-status universities: 29 national research universities, 10 federal universities, 33 flagship universities, and 145 universities participating in the Priority 2030 program. The universities’ activities were assessed according to six parameters: Brand, Education, Research, Social Environment, Cooperation, Innovation, and Entrepreneurship.

    NSU’s advancement in the ranking is primarily due to its improved positions in two sub-ratings: Research (from 7th place in 2024 to 5th in 2025) and Innovation and Entrepreneurship (from 15th place in 2024 to 8th in 2025). It is important to note that NSU has significantly improved its position in the latter parameter for the second year in a row (in 2023, it was in 35th place).

    — Over the past 5 years, extra-budgetary revenues from research activities have increased 5-fold and by the end of 2024 amounted to 1.9 billion rubles. NSU participates in all key development programs, including Priority 2030, Network of Modern Campuses, Research Centers in Artificial Intelligence, etc. We are also strengthening cooperation with industrial partners in the implementation of joint research projects, development and implementation of new technologies, methods, approaches to solving problems facing various industries. Our strategic goal is to become a center of attraction for innovation, which will be facilitated by the creation of a modern infrastructure for research and innovation activities on the basis of the NSU campus under construction, — commented NSU Rector, Academician of the Russian Academy of Sciences Mikhail Fedoruk.

    NSU is actively working in the field of technological entrepreneurship. Thus, the NSU Startup Studio operates at the university; at present, more than 55 student teams have become winners of the federal competition of the Foundation for Assistance to Innovations and received 1 million rubles each for the implementation of their projects. More than 30 of them have become residents of the Academpark business incubator. By the end of 2024, more than 1 billion rubles have been attracted to R&D projects for high-tech industries.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Israeli Mossad chief says Iran operation to continue

    Translation. Region: Russian Federal

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

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

    JERUSALEM, June 26 (Xinhua) — Israeli intelligence chief Mossad David Barnea said in a video released by the agency on Wednesday that the organization will continue its activities in Iran.

    In the video, D. Barnea addresses the staff of the task force on Tuesday, just hours after the ceasefire agreement between Israel and Iran came into effect.

    “We will continue to closely monitor all of Iran’s projects, which we already know about in great detail,” he said.

    He noted that “through precise intelligence, advanced technology and unimaginable combat capabilities, we helped the Air Force disrupt Iran’s nuclear program, establish air superiority over Iran and reduce the missile threat, thereby ensuring the safety of Israeli citizens.”

    In the video, she also thanked the US Central Intelligence Agency “for our joint work.” –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: 10 killed in shooting at festival in central Mexico

    Translation. Region: Russian Federal

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

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

    MEXICO CITY, June 25 (Xinhua) — At least 10 people, including children, were killed in a shootout at a religious festival in the Mexican city of Irapuato, Guanajuato state, on Tuesday night, Mexican President Claudia Sheinbaum said at a daily press conference on Wednesday.

    “It was a conflict, but unfortunately children died,” she said. “What happened is very unfortunate,” the president said, adding that an investigation into the incident was ongoing. She promised to work with Guanajuato Governor Libya Denise García Muñoz Ledo to address the violence in the state.

    The Irapuato administration has condemned the attack on a private home that left several people with gunshot wounds. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: German export outlook worsens amid US tariff concerns – ifo

    Translation. Region: Russian Federal

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

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

    BERLIN, June 26 (Xinhua) — German manufacturers’ export expectations worsened in June as U.S. tariff policies continued to weigh on sentiment in key industries, a poll by the ifo Institute showed on Wednesday.

    The ifo export expectations index fell to -3.9 points in June from -3.0 in the previous month, signaling a general decline in confidence in Germany’s export-oriented economy.

    The clothing sector showed the most gloomy outlook, while sentiment among food and beverage producers, automakers and metal producers also deteriorated significantly.

    Germany’s auto sector, a cornerstone of its industrial base, faces persistently low export expectations and remains particularly vulnerable to trade tensions. The U.S. has already imposed a 25 percent tariff on cars and auto parts imported from the European Union.

    “The tariff threat from the US is still being discussed. An agreement between the EU and the US has not yet been reached,” said ifo’s head of surveys, Klaus Wohlrabe. “This uncertainty reduces exporters’ expectations.”

    According to the latest data from the Federal Statistical Office, German exports fell by 1.7 percent month-on-month in April, while shipments to the United States, Germany’s largest export market, fell sharply by 10.5 percent. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: China to Promote High-Quality Gold Mining Development

    Translation. Region: Russian Federal

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

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

    BEIJING, June 26 (Xinhua) — China will promote high-quality, intelligent, green and safe development of its fast-growing gold mining industry, the Ministry of Industry and Information Technology (MIIT) said.

    Recently, the MPI, together with eight departments including the National Development and Reform Commission, the Ministry of Commerce and the Ministry of Natural Resources, released an action plan for the high-quality development of the gold mining industry for 2025-2027.

    According to the MPI, the implementation of the action plan aims to unify the work to ensure high-quality development and high security, and to maximize China’s advantages in the scale of gold smelting and processing, business management and other aspects.

    According to the plan, by 2027, China’s gold resource capacity and the innovation level of its industrial chains will be significantly enhanced. During this period, the country’s gold reserves will increase by 5-10 percent, and gold and silver production by more than 5 percent.

    China will promote green and efficient use of resources through measures such as building green mines and factories, and accelerate digital transformation by adopting artificial intelligence and other technologies, the plan says.

    According to data from the China Society of Gold Miners, China’s gold production was 377.24 tons in 2024, while its consumption of the yellow metal was 985.31 tons. -0-

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Second policy statement on development of digital assets issued to scale Hong Kong to new heights of global digital asset leadership

    Source: Hong Kong Government special administrative region

    Second policy statement on development of digital assets issued to scale Hong Kong to new heights of global digital asset leadership 
         The Policy Statement 2.0 sets out a vision for a trusted and innovative DA ecosystem that prioritises risk management and investor protection, while delivering concrete benefits to the real economy and financial markets. The latest statement introduces the “LEAP” framework, which focuses on:
    The full policy statement can be seen at the Annex.
     
         The Financial Secretary, Mr Paul Chan, said, “Digital assets hold great development potential with significance to fintech. Through the adoption of blockchain technology, more efficient financial transactions at a lower cost can be realised to bring in more inclusive financial services. The Policy Statement 2.0 sets out our vision for DA development and showcases the practical use of tokenisation through application, with a view to boosting the diversification of use cases. We strive to build a more flourishing DA ecosystem which will integrate the real economy with social life through a prudent regulatory regime and encouragement to market innovation, such that it will bring benefits to both the economy and society while consolidating Hong Kong’s leading position as an international financial centre.”
     
         The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “Hong Kong is uniquely positioned to bridge traditional finance with the DA era. The framework set out in the Policy Statement 2.0 helps us “LEAP” towards a trusted, sustainable and deeply integrated DA ecosystem embedded within the real economy. It also keeps Hong Kong at the forefront of digital transformation, offering a clear roadmap for businesses and investors to thrive in a secure and vibrant DA market.”
     
         The FSTB and the SFC will be conducting public consultations on the licensing regimes for DA dealing service providers and DA custodian service providers shortly.
    Issued at HKT 11:50

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Video: Entrepreneurship for a New Era

    Source: World Economic Forum (video statements)

    Entrepreneurship for a New Era

    While the economy is being transformed by geopolitical and technological shifts, complex challenges, from development to climate, require new ideas and collaboration.

    How can entrepreneurial thinking and new innovations take us out of short-term thinking to provide long-term solutions to today’s challenges?

    https://www.youtube.com/watch?v=FwgaA2o5f1c

    MIL OSI Video –

  • MIL-OSI Banking: Money Market Operations as on June 25, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 6,07,638.82 5.16 0.01-6.55
         I. Call Money 16,775.52 5.29 4.75-5.35
         II. Triparty Repo 4,09,038.35 5.25 5.20-5.28
         III. Market Repo 1,80,038.55 4.94 0.01-5.40
         IV. Repo in Corporate Bond 1,786.40 5.49 5.40-6.55
    B. Term Segment      
         I. Notice Money** 41.23 5.12 4.90-5.25
         II. Term Money@@ 381.00 – 5.70-6.20
         III. Triparty Repo 1,758.05 5.47 5.24-5.58
         IV. Market Repo 0.00 – –
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Wed, 25/06/2025 1 Thu, 26/06/2025 1,309.00 5.75
    4. SDFΔ# Wed, 25/06/2025 1 Thu, 26/06/2025 2,55,293.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,53,984.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       6,433.53  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     6,433.53  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -2,47,550.47  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on June 25, 2025 9,35,907.86  
         (ii) Average daily cash reserve requirement for the fortnight ending June 27, 2025 9,54,173.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ June 25, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on May 30, 2025 5,84,684.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/592

    MIL OSI Global Banks –

  • Gunmen attack Mexican Street Festival, leaving 12 dead

    Source: Government of India

    Source: Government of India (4)

    At least 12 people were killed and nearly 20 others wounded in a brutal overnight attack in the Mexican city of Irapuato, located in the state of Guanajuato, after gunmen opened fire during a festive street celebration honouring St. John the Baptist, local authorities have confirmed.

    The tragedy unfolded on Wednesday (local time) as residents gathered to dance and drink in a community housing complex. A video circulating on social media captured moments of joy– a live band playing, people dancing before panic erupted as gunshots rang out, sending the crowd fleeing in terror.

    Rodolfo Gomez Cervantes, a local official from Irapuato, addressed a press conference on Wednesday, confirming that the death toll had risen to 12 and that about 20 others were receiving treatment for injuries sustained in the attack.

    Mexican President Claudia Sheinbaum condemned the violence and called for swift justice. “It is very unfortunate what happened. An investigation is underway,” she said in a statement, as federal and state security forces scrambled to piece together what transpired and identify those responsible.

    Guanajuato, a state situated northwest of Mexico City, has become one of Mexico’s most violent regions in recent years. Criminal groups have been waging deadly turf wars for control over drug routes, extortion networks, and other illicit enterprises.

    The state recorded 1,435 homicides in the first five months of 2025 — more than double the number seen in any other Mexican state, according to local media reports.

    This latest massacre comes just a day after five people were killed in separate violent incidents across Guanajuato, according to the state attorney general’s office. It also follows a similar attack last month, when gunmen stormed a Catholic Church event in the town of San Bartolo de Berrios, killing seven attendees.

    Authorities have yet to name suspects or confirm which criminal organisation may be behind the recent violence in Irapuato. Investigations are underway. (IANS)

  • MIL-OSI Europe: SEK 25 million to boost Ukraine’s ability to investigate war crimes

    Source: Government of Sweden

    The Government has decided to contribute SEK 25 million to Ukraine to help digitalise the country’s processing of criminal cases. This Swedish support will increase Ukraine’s ability to investigate war crimes committed during Russia’s full-scale invasion. The support will be channelled via the Swedish Civil Contingencies Agency (MSB) in cooperation with the European Union Advisory Mission (EUAM) and the Prosecutor General’s Office of Ukraine.

    MIL OSI Europe News –

  • MIL-OSI Europe: Sweden strengthens negotiating capacity for Ukraine’s path to EU membership

    Source: Government of Sweden

    The Swedish Government prioritises Ukraine’s path towards EU membership, and Sweden is now strengthening its support to increase Ukraine’s capability to implement its accession negotiations. The Stockholm School of Economics has been granted SEK 3 million via the Swedish Institute to train Ukrainian civil servants and diplomats in negotiation skills.

    MIL OSI Europe News –

  • MIL-OSI Video: Technology at All Ends

    Source: World Economic Forum (video statements)

    Technology at All Ends

    From residents creating an online shopping service in the middle of the ocean to digital solutions for fish farmers, some of the most critical on-the-ground stories of technological progress are easily overlooked and underdeveloped.

    What is at stake if this imbalance persists and what is needed to accelerate the scaling of technologies across communities and regions?

    https://www.youtube.com/watch?v=eDOM5HsgOAY

    MIL OSI Video –

  • MIL-OSI Video: UN Chief warns that the world is facing the highest number of armed conflicts since the end of WWII

    Source: United Nations (video statements)

    Remarks by António Guterres, Secretary-General of the United Nations, on the responsibility to protect and the prevention of genocide, war crimes, ethnic cleansing and crimes against humanity at the 80th plenary meeting of the General Assembly.

    Delivering remarks to the General Assembly on the 20th anniversary of the Responsibility to Protect, Secretary-General António Guterres warned that the world is facing “the highest number of armed conflicts since the end of the Second World War.”

    Guterres added that these crises are “marked by rising identity-based violence, widespread violations of international humanitarian law and human rights law, and deepening impunity.”

    Guterres stressed that the principle of the Responsibility to Protect – commonly referred to as R2P – remains central to the UN’s mission. “On this anniversary, we must recognize that the Responsibility to Protect is more than a principle – it is a moral imperative, rooted in our shared humanity and the UN Charter,” he said.

    The Secretary-General presented his seventeenth report on the Responsibility to Protect, which reviews two decades of international efforts and outlines the need for renewed action. “We found that the principle holds strong support among Member States. Communities affected by violence see it as offering a ray of hope. But they also call for effective implementation at all levels,” Guterres said.

    The UN chief also reiterated that the world still falls short of delivering on the promise of protecting populations from atrocity crimes. “Twenty years on, the Responsibility to Protect remains an urgent necessity, a moral imperative, and an unfulfilled promise,” Guterres declared. “Let us keep that promise. Let us deepen our commitment. Let us strengthen our cooperation. And let us make the prevention of atrocities and the protection of populations a permanent and universal practice.”

    The Responsibility to Protect, endorsed by UN Member States in 2005, affirms that governments have an obligation to shield populations from genocide, war crimes, ethnic cleansing, and crimes against humanity. It also tasks the international community with taking collective action when states fail to do so.

    https://www.youtube.com/watch?v=5SvkHemM_WI

    MIL OSI Video –

  • MIL-OSI Asia-Pac: Land site allocated for development of new campus of self-financing post-secondary institution

    Source: Hong Kong Government special administrative region

         The Education Bureau (EDB) today (June 26) announced the allocation result of the latest round of the Land Grant Scheme. The land site at Man Lai Road, Tai Wai, will be allocated to Saint Francis University (SFU) for the development of a purpose-built campus for the operation of full-time locally accredited self-financing post-secondary programmes.

         On the recommendation of the Committee on Self-financing Post-secondary Education (CSPE), the Secretary for Education has decided that SFU should be earmarked as the prospective operator for the land site to be granted at a nominal premium.

         An EDB spokesman said, “It has long been the Government’s policy to support the parallel development of the self-financing and publicly funded post-secondary education sectors. In pursuance of the announcement in the Chief Executive’s 2023 Policy Address, we envisage that the allocation of the site will be conducive to supporting the capacity expansion and quality enhancement of the self-financing sector, thereby enabling the sector to play a more proactive role in Hong Kong’s development into an international post-secondary education hub.”

         The Government invited applications from eligible institutions for the Scheme from December 2024 to March 2025 and received three applications. The CSPE is responsible for giving advice to the Secretary for Education on the comparative merits of the applications received under the Scheme, having regard to the applicants’ education development and site development proposals following a fair and competitive process.

    Details of the Scheme and previously approved applications are available on the website of the Concourse for Self-financing Post-secondary Education (www.cspe.edu.hk/en/Overview-Measures.html).

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: News 06/25/2025 Blackburn Praises Commerce Committee’s Passage of Her Bipartisan Bill to Hold World Anti-Doping Agency Accountable for Chinese Doping Scandal

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)
    WASHINGTON, D.C. – Today, U.S. Senator Marsha Blackburn (R-Tenn.) released the following statement after the Senate Commerce Committee advanced her bipartisan Restoring Confidence in the World Anti-Doping Agency Act, which would permanently provide the Office of National Drug Control Policy (ONDCP) the authority to withhold membership dues to the World Anti-Doping Agency (WADA) if the organization fails to ensure athletes are competing in drug-free Olympic and Paralympic Games.
    Last week, Senator Blackburn led a hearing to hold WADA accountable for its refusal to investigate Chinese swimmers who tested positive for performance-enhancing drugs before the Tokyo Olympics.
    “Since the Chinese doping scandal came to light, WADA has done everything it can to intimidate advocates for fair play and stonewall Congress,” said Senator Blackburn. “With the Commerce Committee passing my bipartisan Restoring Confidence in the World Anti-Doping Agency Act, we have sent a message to WADA that accountability and oversight are coming. We won’t be silenced by WADA or any international organization that tries to strong arm the United States in our mission to promote fair play in sports.”
    RESTORING CONFIDENCE IN THE WORLD ANTI-DOPING AGENCY ACT
    Last year, reporting revealed that more than two dozen Chinese swimmers tested positive for performance enhancing drugs one month before the 2021 Tokyo Olympics. The Chinese Anti-Doping Agency secretly cleared the swimmers of the doping.
    When WADA learned of these positive tests, the agency chose not to intervene or require China to follow WADA rules. Over a dozen of these swimmers competed in the 2021 Olympic Games, winning several medals, including gold.
    Last summer, new reporting revealed two additional Chinese swimmers – including one who competed in the 2024 Paris Olympics – tested positive in 2022 for a banned drug but were secretly cleared of doping by Chinese authorities.
    The Restoring Confidence in the World Anti-Doping Agency Act would: 
    Allow the ONDCP to withhold up to the full amount of membership dues to WADA. The U.S. is the WADA’s greatest contributor, which makes this a powerful tool.
    Authorize ONDCP to use all available tools to ensure that WADA fully implements all governance reforms, including a proper conflict-of-interest policy, and that independent athletes from the United States and other democratic countries, or representatives of such athletes, have a decision-making role on WADA’s Executive Committee and governing bodies.
    The Restoring Confidence in the World Anti-Doping Agency Act is co-sponsored by U.S. Senators Chris Van Hollen (D-Md.), Shelley Moore Capito (R-W.Va.), Richard Blumenthal (D-Conn.), Roger Wicker (R-Miss.), Lisa Blunt Rochester (D-Del.), and Ben Ray Luján (D-N.M.). It was introduced in the House by Representatives John Moolenar (R-Mich.) and Raja Krishnamoorthi (D-Ill.).
    Click here for bill text.
    RELATED

    MIL OSI USA News –

  • MIL-OSI USA: SCHNEIDER STATEMENT ON US STRIKE ON IRAN NUCLEAR FACILITIES

    Source: United States House of Representatives – Representative Brad Schneider (D-IL)

    WASHINGTON – Rep. Brad Schneider (IL-10) released the following statement on June 22, 2025

    As we wait for more details on this evening’s U.S. actions against Iran’s nuclear sites in Natanz, Isfahan, and most significantly, Fordow, I proudly thank the brave service members who put their lives on the line for our defense and security. America and the world are more secure because of their success. I am grateful all have safely returned, and I pray for the safety of our 40,000 U.S. troops, our many diplomats and the thousands of U.S. citizens living, working and visiting the region.

    Since the Iranian revolution in 1979, the regime in Tehran has effectively waged an undeclared war on the United States, Israel, and the broader West. A nuclear armed Iran poses a grave and unacceptable threat to the United States, and is an existential threat to Israel and every Arab state in the Gulf.

    Iran must never have a nuclear weapon. Ever.

    A diplomatic path to reversing Iran’s nuclear ambitions, and permanently dismantling Iran’s nuclear development programs was preferable to war. Negotiations were recently restarted, but Iran dug in its heels at the recent talks in Italy, in Oman, and again this week in Switzerland. Iran gave every signal that diplomacy in this moment was a dead end.

    I still hope that, after tonight’s actions, Iran accepts that it will never have a nuclear weapon and returns in good faith to the negotiating table.

    While Iran’s nuclear ambitions demand a strategic, serious and coordinated response, it remains the sole Constitutional authority of Congress—not the President—to take our nation into war. That prerogative exists not only as a matter of law, but as a safeguard. The Administration must immediately engage with Congress and urgently provide a bipartisan, classified briefing so we can assess the intelligence, legal justifications, objectives, and consequences of this action.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: SCHNEIDER, BILIRAKIS OPPOSE DOWNGRADE OF EU-ISRAEL AGREEMENT

    Source: United States House of Representatives – Representative Brad Schneider (D-IL)

    WASHINGTON – Rep. Brad Schneider (IL-10), a member of the House Foreign Affairs Committee and co-founder and co-chair of the Congressional Abraham Accords Caucus, with Rep. Gus Bilirakis (FL-12), sent a bipartisan letter to European Commission President Ursula von der Leyen and High Representative Kaja Kallas expressing deep concern over proposals to suspend or downgrade the European Union’s Association Agreement with Israel.

    In the letter, the Members warned that such a move would “fracture our collective response to October 7th — the most brutal assault on the Jewish people since the Holocaust — and risk emboldening the very actors who threaten the democratic world.”

    Following the receipt of the letter, the European Commission delayed a scheduled discussion about a possible downgrade.

    “Now is the time for unity among democratic allies, not retreat,” said Congressman Schneider. “Downgrading ties with Israel while Hamas continues to hold hostages and Iran advances its nuclear program sends the wrong message to our adversaries. We must stand together to defend our shared values and regional stability.”

    “The European Commission’s potential decision to distance itself from Israel sends the wrong message at a time when unity among democratic allies is more critical than ever. Walking away from one of the region’s strongest democratic partners undermines our shared values and emboldens those who oppose peace and stability,” noted Congressman Bilirakis.  

    The Members emphasized that the EU-Israel relationship delivers critical benefits to both parties, including collaboration on science, technology, and security. “This relationship has saved lives on both sides of the Mediterranean,” the letter reads. “It should be strengthened, not discarded.”

    The letter follows Israel’s recent defensive strike against Iran’s nuclear infrastructure, taken after the IAEA censured Iran for systematic violations of its non-proliferation commitments, and the U.S.’s pre-emptive strike on three Iranian nuclear sites. The Members urged EU leaders to remain engaged with Israel and reject efforts to politicize the agreement, stating: “The only path to meaningful Palestinian self-determination runs through continued diplomacy, regional cooperation, and principled pressure on Hamas and its backers—not isolation of Israel.”

    Full text of the letter is available here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: SCHNEIDER RETURNS FROM MIDDLE EAST TRIP FOCUSED ON ABRAHAM ACCORDS AMID ISRAEL – IRAN CONFLICT

    Source: United States House of Representatives – Representative Brad Schneider (D-IL)

    WASHINGTON, DC – Rep. Brad Schneider (IL-10), a member of the House Foreign Affairs Committee and co-founder and co-chair of the Congressional Abraham Accords Caucus, returned on Thursday from a five-day bipartisan congressional delegation to Saudi Arabia, Bahrain, and the United Arab Emirates. Rep. Schneider was joined on the trip by Reps. Jimmy Panetta (CA-19), Zach Nunn (IA-03), and Don Bacon (NE-02). The trip was organized and sponsored by the N7 Initiative, a partnership between the Atlantic Council and the Jeffrey M. Talpins Foundation which is focused on advancing US interests by strengthening cooperation between the United States, Israel, and Arab and Muslim countries. 

    Representative Schneider leads delegation in meeting in Bahrain with his Royal Highness the Crown Prince and Prime Minister Salman bin Hamad Al Khalifa

    “This visit, held during a moment of regional crisis and uncertainty, underscored our commitment to security, prosperity and peace,” said Rep. Schneider. “The Abraham Accords are not just a historic diplomatic achievement—they are the best framework for a more integrated and secure Middle East. In the face of nefarious Iranian activity across the region, efforts to deepen and expand the Abraham Accord partnerships are more important than ever.”

    The delegation visited Saudi Arabia, Bahrain, and UAE. The delegation was originally scheduled to visit Israel. After the closure of the airport in Israel, the Members planned to travel to Jordan and then drive to Jerusalem to meet with Israeli leaders. Unfortunately they were not able to proceed with the Israel portion of the trip. 

    “While the start of Israel’s strikes on Iran’s nuclear program and military infrastructure – and Iran’s retaliatory ballistic missile attacks on Israel – began mere hours before our delegation was scheduled to land in Saudi Arabia, we never considered canceling this trip,” continued Rep. Schneider. “Especially at this moment, it is critical the US shows support for our allies and commitment to bringing sustained peace, prosperity, and stability to the Middle East.”

    Despite the rapidly shifting security environment, the delegation successfully engaged with senior government officials and private sector leaders, including a conference call with Israel’s Foreign Minister, Gideon Sa’ar, to discuss how to strengthen and expand the normalization efforts, building on the Abraham Accords and looking beyond the shadows of ongoing regional conflicts. Discussions focused on practical ways to expand normalization, including people-to-people ties, technology cooperation, regional infrastructure, and defense collaboration. 

    Representatives Nunn, Schneider, Bacon and Panetta at the al Diriyah excavation in Riyadh

    In Bahrain, Representative Schneider meets with Foreign Minister Dr. Abdullatif bin Rashid Al Zayani

    Representative Schneider and his wife Julie visit the synagogue 
    at the Abrahamic Family House in Abu Dhabi, UAE

    ###

    MIL OSI USA News –

  • MIL-OSI USA: SCHNEIDER STATEMENT ON ISRAEL STRIKE ON IRAN

    Source: United States House of Representatives – Representative Brad Schneider (D-IL)

    At approximately 3:00 a.m. local time, 7:00 p.m. in Illinois, Israel launched Operation Rising Lion, a preemptive military strike targeting Iran’s nuclear program and key personnel. Israel has struck more than 300 targets, including nuclear sites, air defenses, and IRGC headquarters This may mark the beginning of a wider conflict in the Middle East. Though we do not yet know the full implications for the United States, our partners, or the global economy, one thing must be clear: America stands with Israel.

    Iran’s long record of malign behavior—its threats to wipe Israel off the map, its support for Hamas, Hezbollah, and the Houthis—makes clear why Israel assessed that it could not wait. A nuclear-armed Iran would pose an unacceptable threat not only to Israel but to the entire world.

    Israel destroyed Iraq’s nuclear reactor in 1981, and Syria’s in 2007. Later events proved the wisdom of Israel’s actions and benefited the region and the world. I am confident, with Iran on the brink of weaponization, the world will again be grateful that Israel acted to prevent catastrophe.

    Just last month, the International Atomic Energy Agency released a comprehensive report documenting Iran’s extensive violations of the Nuclear Non-Proliferation Treaty (NPT). Rather than correct course, Iran doubled down, announcing it would accelerate enrichment and stonewall international inspectors. On Wednesday, the IAEA formally censured Iran. Tehran responded with more threats.

    In moments like this, American leadership matters. The US stood with Israel in 2023 when it was attacked by Hamas and Hezbollah, and then again in 2024 when Iran launched hundreds of drones, cruise and ballistic missiles. We must do so again today—with resolve, with clarity, and with the unity that defines our most serious moments.

    I believe in the strength of the U.S. – Israel alliance. I am grateful for the sacrifice and bravery of the men and women of the United States armed forces and pray for their success and safety. I am immensely proud that every enlisted sailor in our Navy begins their service at Naval Station Great Lakes in my district, where they learn what to do on days like this. I know they are fully prepared precisely for this moment.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Federated Farmers win on not-for-profit tax change

    Source: Federated Farmers

    Federated Farmers is welcoming confirmation that controversial tax proposals impacting the not-for-profit sector won’t proceed without political oversight and legislative change.
    “This is a significant win for Federated Farmers, which earlier this week called on the Revenue Minister to act quickly on these proposals,” national board member Richard McIntyre says.
    “We’ve strongly opposed the change – calling it a fundamental shift in tax policy disguised as legal interpretation – and urged Simon Watts to rule it out.
    “It’s a huge concern for the thousands of not-for-profits across New Zealand who rely on membership subscriptions to fund their work.”
    An Inland Revenue draft interpretation of tax law would see not-for-profits taxed on their membership income for the first time.
    But Revenue Minister Simon Watts yesterday told Federated Farmers he has taken the issue out of IRD’s hands and into the political realm, stating:
    “I have heard concerns about how this would impact many not-for-profit organisations.
    “When Inland Revenue revises its interpretation of tax law, the Government will consider the impacts and respond with a law change before any new interpretation comes into force.
    “I have asked for advice on how the primary legislation could be amended to ensure there is a fair and practical outcome in this area.”
    This follows weeks of sustained pressure from Federated Farmers.
    “We were among the first to sound the alarm that the draft interpretation would overturn 20 years of settled tax treatment for mutual associations,” McIntyre says.
    The proposal would have seen Federated Farmers – and around 9000 other not-for-profits, including unions, community groups, and political parties – taxed on membership fees.
    “The Minister’s move to consider legislative change before any new interpretation takes effect provides clarity that changes won’t be forced on the sector without public scrutiny,” McIntyre says.
    Federated Farmers also acknowledges the support of other not-for-profits who helped push this issue up the political agenda.
    “This is a textbook example of effective advocacy – early political pressure and commonsense reasoning ensured the Government took control before serious harm was done.” 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Weather News – A wet and windy run up to the school holidays – MetService

    Source: MetService

    Covering period of Thursday 26th – Sunday 29th June – Severe weather will affect much of the country in the coming days.

    • Orange Heavy Rain Warnings have been issued for parts of Tasman, Nelson, Marlborough, the Buller District and Taranaki Maunga ending by Friday evening. 
    • Orange Strong Winds Warnings are in place for the Marlborough sounds and Wellington today (Thursday). 
    • Heavy Rain Watches also cover the Bay of Plenty, Taupō, Taihape, northern Whanganui, Dunedin and North Otago from Friday afternoon. 
    • A Severe Thunderstorm Watch has been issued for Northland for Friday morning for possible downpours. 
    • A Heavy Snow Watch is in place for Central Otago and Canterbury High Country south of the Rangitata River overnight from Friday into Saturday.  

    Today (Thursday) severe weather affects northern parts of the South Island.

    • Rainfall rates as high as 25mm/h have been recorded in the Tasman District. The heavy rain is expected to persist into Friday. 
    • Wind gusts more than 120km/h have been recorded in Wellington. 
    • Heavy rain affected the west coast of the South Island earlier this morning, meanwhile Christchurch woke to a balmy 17.4°C due to the foehn effect, which also melted the Alexandra ice rink. 

    MetService Meteorologist Michael Pawley says, “The Nelson and Tasman Region has had significant rain recently, and we’re expecting a lot more to fall by Friday evening.” Before the end of Friday, northern parts of the South Island will likely see more than a month’s worth of rain. Expect the rivers to be running high and surface flooding present.

    On Friday the heavy rain will affect most of the North Island. Before dawn, squally thunderstorms are expected to arrive in Northland. These bring the risk of heavy downpours and strong wind gusts. As the front moves across the island, the risk of thunderstorms spreads to other regions of the North Island and top of the South.  

    Overnight into Saturday the winds will shift southerly, directing heavy rain at Dunedin and Otago with the possibility of heavy snow above 600 meters inland. This could affect alpine roads.

    Michael adds “Sunday looks like the better day to travel if you’re going away for the school holidays because the severe weather is expected to ease. If you’re going skiing, I’d recommend staying cozy and dry while the fresh snow falls.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: NZ SUPER FUND STAKEHOLDER UPDATE

    Source: New Zealand Super Fund

    Portfolio Update – The value of the NZ Super Fund has mirrored the performance of global risk assets over the past couple of months, dropping to $74 billion following US President Donald Trump’s “Liberation Day” tariff announcements on 2 April and subsequently recovering to pass $83 billion.

    Periods of volatility are part and parcel of running a growth-focused portfolio, which we continue to believe is the investment strategy best suited to our mandate and to our purpose, Sustainable Investment Delivering Strong Returns to All New Zealanders.

    As a long-term investor, we are able to ride out, and even take advantage of, short-term market volatility. For example, one of our most successful active strategies over the past few years is Strategic Tilting. This strategy is based on our belief that investments tend to return to fair value over time and that, given our long-term investment horizon, we can improve our risk-adjusted returns by reducing our exposure to assets we believe are over-priced assets in favour of holding assets we believe offer value.

    As we have seen during the GFC and at the outset of the Covid pandemic, this strategy can generate losses over the short to medium term: our operational independence and our clearly defined governance model are essential to the success of this strategy.

    Market Conditions

    Financial markets remain closely attuned to developments in U.S. trade policy and ongoing tariff negotiations under the Trump Administration. These policy uncertainties, combined with concerns over the recently released federal budget – which is projected to significantly widen the U.S. fiscal deficit – have heightened investor caution.

    As a result, long-term U.S. Treasury yields have risen, driven in part by increased investor demand for alternative sovereign debt instruments. Notably, Japanese Government Bonds (JGBs) have seen a pickup in yields, offering a relatively attractive option for investors seeking safety and yield diversification. This shift in sentiment has also contributed to a modest depreciation of the U.S. dollar against major currencies.

    Global economic activity expanded at a moderate pace in Q1, but recent indicators suggest a softening in momentum across several economies. Inflation remains broadly in line with central bank targets, helped by subdued energy prices. In response to the cooling outlook, central banks in New Zealand, Australia, and the Eurozone have eased monetary policy, while the U.S. Federal Reserve held interest rates steady.

    Adding to global uncertainty, escalating geopolitical tensions in the Middle East have driven a sharp increase in commodity prices, particularly in oil markets. These developments are likely to be a key source of market volatility in the near term.

    The NZ Super Fund in the Budget

    The amount of money the government is required to contribute to the Super Fund is determined by a formula set out in Section 43 of our Act (the New Zealand Superannuation and Retirement Income Act 2001).

    It is a complicated-looking calculation, but the most important inputs are the expected nominal GDP and net cost of superannuation over the following 40 years and the size of the Super Fund.

    If nominal GDP or the size of the Super Fund is higher than expected (or if the net cost of superannuation is lower), the Government is required to contribute a lower amount.

    These forecasts are updated by Treasury every six months at the Budget Economic and Fiscal Update (BEFU) and the Half-Year Economic and Fiscal Update (HYEFU).

    At the last HYEFU, Treasury forecast that the government would be able to make its first withdrawal from the Super Fund in 2031 ($96 million).

    Last month’s updated numbers, published alongside Finance Minister Nicola Willis’s 2025 Budget, forecast that the first withdrawal would come in 2028 ($32 million). 2036 remains the year where withdrawals are forecast to pass $1 billion for the first time.

    Reductions in forecast government contribution have been a trend for the past few years, driven by higher-than-expected returns from the Super Fund and lower-than-previously-expected future net superannuation costs.    

    The Elevate Fund

    The Budget also contained the news that the Government would divert this year’s capital contribution of $61 million to the Elevate Fund, along with a further $39 million from the government’s capital allowance.

    This $100 million commitment provides some welcome certainty for NZGCP, whom the Guardians appointed to manage Elevate in line with the legislation that established the fund in 2019 (the Venture Capital Fund Act), and matches the approach taken by the previous government when it first set up Elevate.

    We look forward to continuing to work with NZGCP to maintain Elevate’s contribution to increasing the venture capital available to New Zealand entities and developing New Zealand’s venture capital markets to function more effectively. 

    Minister of Finance’s Letter of Expectations

    We have now published our response to the Letter of Expectations 2025/26 that we received earlier this year from Finance Minister Nicola Willis.

    Click here to read the Minister’s letter, and here to read our response. 

    Guardians staffer elected to ILPA board

    Del Hart, our Head of External Investments and Partnerships, was recently elected to the Board of the Institutional Limited Partners Association. With 618 institutional members drawn from 50 countries, the ILPA is an important industry advocate and thought leader.

    Private markets are growing and changing rapidly. Del’s perspective will be of great value as we continue to refine our thinking about investing in this asset class.

    Industry recognises Leadership Team member’s career and contribution

    Paula Steed, recently appointed as Guardians GM Technology (and previously GM Strategy and Shared Services), has been inducted as a Fellow of the Chartered Accountants Association of Australia and New Zealand (CAANZ). Fellowships are given for outstanding career achievements or contributions to the profession, as decided by CAANZ members.  

    NZ Super Fund Scholarship winner

    Avondale College alumna Chana Malungahu is the latest recipient of the NZ Super Fund AUT Business Scholarship – Pacific. Chana, who enrolled at AUT in the second semester last year, is currently studying business strategy, international business management, and entrepreneurship and innovation, and working towards a Bachelor of Business degree. 

    AUT Business School announced the award of this scholarship via their LinkedIn page.

    Annual Report voted best in Australasia

    For the fourth time in five years the Guardians’ annual report has been named Report of the Year at this year’s ARA awards. Judges described the report as “designed to engage readers and effectively communicate the organisation’s messages … customer centric and easy to understand.”

    Read our Annual Report for FY24 here.

    The Judges’ comments and a full list of award winners can be found on the ARA website.

    In the news

    Guardians Board member (and former Senior Investment Strategist at the NZ Super Fund) Sue Brake and CalPERS Chief Investment Officer (and former Chief Investment Officer at the NZ Super Fund) Stephen Gilmore talk about the Total Portfolio Approach to investing with Thinking Ahead Institute Associate Director Isabella Martin – the latest in Isabella’s Investing for the Future series of podcasts.

    The Guardians is gearing up to combine a multitude of investment data models across the organisation into a central model-of-models, which should lead to better investment decisions and cost savings. Maaike van Tol, our Director of Portfolio Design, recently sat down with the Investment Innovation Institute’s Director of Content, Wouter Klijn, to talk about how a comprehensive data analytics function can lead to more meaningful conversations, better investment decisions, and lower costs. Read Wouter’s report here.   

    Sustainable Investment Analyst Laumanu Mafi recently featured on RadioNZ’s Pacific Waves programme, where she and host Susana Suisuiki discussed some of the difficulties Pacific women face in accessing the retirement benefits they need. An economist by training, Laumanu spent three years on the investment team at Tonga’s Retirement Fund Board before joining the Guardians two years ago. Go to RNZ Pacific to listen to their conversation.

    Congratulations to former Guardians Board member Mark Tume, winner of the Invest New Zealand – Te Tohu Kahukura Māori Leadership in Finance Award at the recent INFINZ awards. A full list of award winners can be found here.

    MIL OSI New Zealand News –

  • MIL-OSI Security: 1-2 SBCT Transfers Authority to 1-4 SBCT

    Source: United States INDO PACIFIC COMMAND

    CAMP CASEY, South Korea – U.S. Army Soldiers assigned to 1st Stryker Brigade Combat Team, 4th Infantry Division, uncased their colors, and the 1st Stryker Brigade Combat Team, 2nd Infantry Division, cased theirs during a Korea Rotational Force transfer of authority ceremony held June 18, on Camp Casey.

    MIL Security OSI –

  • MIL-OSI Security: 1-2 SBCT Transfers Authority to 1-4 SBCT

    Source: United States INDO PACIFIC COMMAND

    CAMP CASEY, South Korea – U.S. Army Soldiers assigned to 1st Stryker Brigade Combat Team, 4th Infantry Division, uncased their colors, and the 1st Stryker Brigade Combat Team, 2nd Infantry Division, cased theirs during a Korea Rotational Force transfer of authority ceremony held June 18, on Camp Casey.

    MIL Security OSI –

  • MIL-OSI Video: China’s Economy: Analysed

    Source: World Economic Forum (video statements)

    China’s Economy: Analysed

    Despite persistent challenges, such as low domestic demand and household consumption, China’s economy has been buoyed by strong exports and private sector activity, hitting its 5% growth rate target in 2024 and aiming for similar levels of growth this year.

    To what extent can a shift to a technology-led model yield new growth as global volatility threatens exports?

    https://www.youtube.com/watch?v=jEkf6keMyto

    MIL OSI Video –