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Category: Asia Pacific

  • England fined, docked two WTC points for slow over rate at Lord’s

    Source: Government of India

    Source: Government of India (4)

    England were docked two World Test Championship (WTC) points and fined 10% match fees on Wednesday for their slow over rate in the third test against India at Lord’s.

    The hosts went 2-1 up in the five-test series with a thrilling 22-run victory but were found two overs short of target in a match where the Dukes ball went out of shape several times and had to be replaced.

    “England captain Ben Stokes pled guilty to the offence and accepted the proposed sanction, so there was no need for a formal hearing,” the International Cricket Council said in a statement.

    Players lose 5% of their match fees for every over their team fail to bowl in the allotted time. It also costs the team one WTC point.

    England slipped from second to third in the WTC standings behind Sri Lanka following the points deduction. Australia, who completed a 3-0 sweep of West Indies earlier this week, lead the standings in the new 2025-2027 cycle.

    (Reuters)

  • MIL-OSI Australia: Join the celebrations! Applications now open for the 2026 National Multicultural Festival

    Source: Northern Territory Police and Fire Services

    As part of ACT Government’s ‘One Government, One Voice’ program, we are transitioning this website across to our . You can access everything you need through this website while it’s happening.

    Released 16/07/2025

    Want to celebrate your culture, share your organisation’s valuable work, or take the stage at one of Canberra’s most beloved events? Applications are now open for performers and stallholders wishing to participate in the 2026 National Multicultural Festival, which will return from 6 – 8 February 2026.

    Minister for Multicultural Affairs, Michael Pettersson MLA, encouraged members of the community who are interested in being involved in the festival to participate in the open application process.

    “Canberra’s diverse community is the heartbeat of the National Multicultural Festival. I encourage individuals and organisations who want to help celebrate the ACT’s inclusiveness to apply to be part of the festivities,” Minister Pettersson said.

    “The fact that the National Multicultural Festival is community-led is what makes it such a vibrant and unique event, one that attracts hundreds of thousands of people to Canberra City each year,” Minister Pettersson said.

    “Participating in the National Multicultural Festival is a fantastic way to reach new audiences and make new community connections. In 2025, more households than ever attended the festival, with 83,420 – or 41% – of Canberra households attending.”

    The National Multicultural Festival promotes equality, social cohesion and the sharing of culture through music, dance, language, cultural displays, food, learning, and interaction.

    Stallholder applicants can apply under four different categories:

    • Community (Food and Beverage; Retail Cultural Market Items; or Club – Food and Beverage)
    • Information (Multicultural; Diplomatic; or General)
    • Commercial (Food and Drink; or Retail Market Items)
    • Market Stalls (Community; or Commercial)

    The festival team, which sits within the ACT Government’s Health and Community Services Directorate, will hold information sessions over the coming weeks to help prospective applicants.

    The festival also welcomes local, national and international performer applications from a wide range of genres, including music, dance, song, spoken word, performance art, roving performers and ceremonies. Community Groups, professional and volunteer performers are encouraged to apply in the following categories:

    • Cultural showcase
    • Stage performance
    • Community workshop
    • Cooking demonstration
    • Parade participation

    Minister Pettersson said non-profit community organisations could apply for grants ranging from $100 to $10,000 for projects that promote community participation, inclusion and cultural diversity at the festival. The ACT Government’s National Multicultural Festival Grant Program is available for community organisations to assist with performance costs, materials, costumes, performer and rehearsal fees, travel expenses and Public Liability Insurance.

    Applications to participate as a stallholder or performer at the festival close on 26 August.

    More information on the application process and information sessions is available at www.multiculturalfestival.com.au.

    For more information about the ACT Government’s National Multicultural Festival, go to www.multiculturalfestival.com.au and subscribe to the newsletter.

    Quote attributable to Canberra Juventus Football Club:
    “As a first-time entrant to the 2025 National Multicultural Festival, the experience of the many volunteers of the Canberra Juventus Football Club was both a memorable and special time for the club. The festival provided the opportunity and surroundings that brought together so many families and friends, as well as both past and present members and players of the long-established Italian based heritage of the Canberra football club. This coming together is what the club believes in and shows the true essence of the ‘community of Canberra Juventus’. The opportunity allowed us to showcase our Italian heritage and passion, through our specialty food and sweets, our famous Aperol Spritz with fun Italian music. Importantly, we were able to express our passion for family and football which encapsulates the club’s objectives in strengthening community. We certainly hope to do it all again in 2026!”

    Quote attributable to Robin Zirwanda, Founder of the Assyrian Australian band Azadoota:
    “The vibe of the National Multicultural Festival is really welcoming. The festival audience is really responsive and eager to experience the culture we share through our music. And because the festival attracts people from so many different cultures, there is a real sense of collaboration and sharing between the audience and the performers. It’s a great energy.”

    – Statement ends –

    Michael Pettersson, MLA | Media Releases

    «ACT Government Media Releases | «Minister Media Releases

    MIL OSI News –

  • Air India to restore some international flights following reduction over crash

    Source: Government of India

    Source: Government of India (4)

    Air India said on Tuesday it would partially restore its international flight schedule that was scaled back following the crash involving its flight last month that killed 260 people.

    As part of the restoration, Air India will start a thrice-weekly service between Ahmedabad and London Heathrow from August 1 to September 30, replacing the currently operating five-times-a-week flights between Ahmedabad and London Gatwick.

    A Boeing 787 Dreamliner bound for London from the Indian city of Ahmedabad began to lose thrust and crashed shortly after takeoff on June 12. All but one of the 242 people on board and 19 others on the ground were killed.

    Air India reduced some of its international flights following the crash as part of a “safety pause” that the carrier said allowed it to perform additional precautionary checks on its Boeing 787 aircraft.

    The partial service resumption will see some flights being restored from August 1, with full restoration planned from October 1, 2025, Air India said.

    As part of the partial resumption, Air India has reduced flights to some destinations in Europe and North America. These include reductions in the frequency of Delhi-to-Paris flights to seven times a week from 12, effective August 1.

    Flights on the Delhi-Milan route have been reduced to three times a week from four earlier.

    The frequency of flights from Mumbai and Delhi to New York JFK has been cut to six times a week from seven earlier, the airline said.

    (Reuters)

  • MIL-OSI Russia: US to impose 19 percent tariff on Indonesian goods – D. Trump

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    NEW YORK, July 16 (Xinhua) — Indonesia will pay a 19 percent tariff on all goods exported to the United States, while American exports to Indonesia will be exempt from tariff and non-tariff barriers, U.S. President Donald Trump said on Truth Social on Tuesday.

    “I have completed a major deal with the Republic of Indonesia after speaking with its highly respected President Prabowo Subianto. This landmark deal opens the entire Indonesian market to the United States for the first time in history,” he wrote.

    As part of the agreement, Indonesia committed to purchasing energy resources worth $15 billion and agricultural products worth $4.5 billion on the American market, as well as 50 Boeing aircraft, the head of the White House added.

    According to D. Trump, as a result of the deal, the United States will for the first time gain full access to the Indonesian market, where more than 280 million people live. –0–

    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 Russia: China and Australia sign memorandum of understanding on implementation and review of free trade agreement

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 16 (Xinhua) — China and Australia on Tuesday signed a memorandum of understanding on the implementation and review of the China-Australia Free Trade Agreement (FTA), according to the Ministry of Commerce.

    The document was signed by Chinese Minister of Commerce Wang Wentao and Australian Secretary of Foreign Affairs and Trade Ian Adams in the presence of Chinese Premier Li Qiang and Australian Prime Minister Anthony Albanese.

    Since the China-Australia free trade agreement came into effect in 2015, it has greatly contributed to the fruitful development of trade and economic relations between the two countries, the Chinese Ministry of Commerce said.

    The year 2025 marks the 10th anniversary of the China-Australia FTA coming into force. The two sides will take this opportunity to maintain close cooperation, continue high-quality implementation of the FTA, and jointly review the FTA to identify areas for further improvement or expansion, the Commerce Ministry said.

    This will increase the level of liberalization and facilitation of trade and investment, thereby providing a higher level of institutional guarantees for trade and economic cooperation between the two countries, the department added. -0-

    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 Russia: D. Trump announced the introduction of a single tariff for small countries in the amount of slightly more than 10 percent

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    NEW YORK, July 16 (Xinhua) — The United States will impose a flat tariff of just over 10 percent on smaller countries, including many in Africa and the Caribbean, US President Donald Trump said on Tuesday.

    “We’ll probably put a single tariff on all of them,” he told reporters at Andrews Air Force Base in Maryland. That could be a duty of just over 10 percent on goods from at least 100 countries, the Associated Press quoted the president as saying.

    Earlier in the day, Trump announced a deal with Jakarta in which Indonesia will pay a 19 percent tariff on all goods exported to the United States, while American exports to the Asian country will be exempt from tariff and non-tariff barriers.

    The White House chief recently sent letters to leaders of several countries, including a number of major US trading partners, announcing 20-50 percent tariffs effective August 1.

    D. Trump also said that he could announce tariffs on pharmaceuticals at the end of July. –0–

    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: CS visits Heilongjiang Province (with photos/video)

    Source: Hong Kong Government special administrative region

        The Chief Secretary for Administration, Mr Chan Kwok-ki, arrived in Harbin, Heilongjiang Province yesterday afternoon (July 15), to continue his visit.

        Mr Chan met with the Secretary of the CPC Heilongjiang Provincial Committee, Mr Xu Qin, to exchange views on deepening co-operation between Hong Kong and Heilongjiang Province. Mr Chan said that over the past year, Hong Kong and Heilongjiang have had mutual engagements, close exchanges and co-operation efforts that have reached an unprecedented level. At the Heilongjiang-Hong Kong Investment Cooperation Conference held in Hong Kong in March this year, the two places signed Memoranda of Understanding for strengthening co-operation on education, economics and trade, culture and tourism, sports and youth, and other fields, breaking new ground and laying a solid foundation for future co-operation. He said that Hong Kong possesses the unique advantages under the “one country, two systems” principle and a business environment that is highly market-oriented and internationalised, underpinned by the rule of law and an array of global professional talent and services. Mr Chan said he eagerly looks forward to deepening co-operation in all aspects between Hong Kong and Heilongjiang, complementing each other’s strengths,and achieving mutual benefits to make greater contributions to building a great country and realising the rejuvenation of the Chinese nation.

        Afterwards, Mr Chan attended the launch ceremony of the Hong Kong Patriotic Education Heilongjiang Study Tour under the Strive and Rise Programme. On behalf of the Hong Kong Special Administrative Region (HKSAR) Government, he expressed gratitude to the Heilongjiang Provincial Government for its strong organisational support work for the study tour, which travelled to and from Harbin by chartered flights arranged by Greater Bay Airlines. With over 130 participants, this study tour is the largest tour in scale since the launch of the Strive and Rise Programme. Mr Chan said at the event that given the rapid advancements in the country’s science and technology sectors, Heilongjiang Province has also developed various high-tech industries. He encouraged the participants to engage in different activities on the study tour to deepen the understanding of the country’s history, culture and economic development, and experience fascinating technological innovations. These will help the participants set goals for their future and strive for upward mobility.

        This morning (July 16), Mr Chan and members of the study tour visited the Exhibition Hall of Evidences of Crime Committed by Unit 731 of the Japanese Imperial Army, which is one of the first batch of 100 demonstration bases for patriotic education in the country. The visit allowed the participants to gain a deeper understanding of the crimes of Unit 731 through the displayed objects, pictures, archives, multimedia materials etc. Mr Chan said that this year marks the 80th anniversary of victory in the War of Resistance, and the exhibition hall is an important place for patriotic education. He said he hopes that members of the study tour will take this opportunity to gain a deeper understanding of the hardships in national development and building a strong nation, cultivate a deeper and firmer patriotic sentiment through recognising historical facts, and consciously shoulder the responsibility of safeguarding national security.

        In the afternoon, Mr Chan met with the Secretary of the CPC Harbin Municipal Committee, Mr Yu Hongtao. They exchanged views on promoting exchanges and co-operation in various aspects between the two places in the future. Noting that Harbin has been added as one of the Mainland cities eligible for the Individual Visit Scheme since May last year, and that direct flights between Hong Kong and Harbin have been launched, Mr Chan said that the partnerships between the two places have become closer. He expressed his hope for the two cities to work together to explore more co-operation opportunities. In addition, Mr Chan mentioned that the HKSAR Government is steadfastly carrying out the work of patriotic education, including organising more Mainland exchange and study tours. He said he expected more Hong Kong young people to visit Harbin for exchanges and study, with an aim of enhancing Hong Kong young people’s sense of identity with, sense of belonging to, and pride towards the country.

        Mr Chan will conclude his visit and return to Hong Kong this afternoon.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ 15: Formulating a comprehensive population policy

    Source: Hong Kong Government special administrative region

    Following is a question by the Hon Nixie Lam and a written reply by the Secretary for Home and Youth Affairs, Miss Alice Mak, in the Legislative Council today (July 16):
     
    Question:

    According to data from the Census and Statistics Department, Hong Kong’s total fertility rate in 2024 was only 0.841, far below the 2.1 level required for population replacement. Furthermore, a survey by a youth service organisation indicated that only 36 per cent of young people in Hong Kong who had responded in the survey expressed a preference for marriage or childbearing. Another survey showed that just around 23.27 per cent of respondents aged between 19 and 29 expressed a desire to have children, ranking among the lowest levels globally. There are views that the Government should adopt measures to enhance marriage and fertility rates among young people and develop a comprehensive population policy to avoid population ageing and workforce shrinkage. In this connection, will the Government inform this Council:
     
    (1) whether it will commence a systematic survey and study on the marriage and fertility situation of young people in Hong Kong, so as to deeply analyse the core factors influencing their decisions regarding marriage and childbearing, particularly through assessment in areas such as financial burdens, housing difficulties and job stability, with a view to gaining a more precise understanding of their concerns and expectations; if so, of the direction and timetable of the survey and study; if not, the reasons for that;
     
    (2) as there are views pointing out that young people’s lack of knowledge and confidence in future planning and gender relations indirectly undermine their willingness to marry and have children, whether the Government will consider, through cross-departmental collaboration, integrating existing fertility support measures for young people (e.g. child-rearing subsidies, priority quotas for public housing allocation, and childcare services for working families) and consolidating such information within the Home and Youth Affairs Bureau’s “HKYouth+” mobile application, as well as adding a designated information corner to the application that covers topics such as reproductive health, sex education, and marriage and fertility support, with a view to strengthening support for young people in the aspects of affective education and reproductive health information; if so, of the timetable; if not, the reasons for that; and
     
    (3) as there are views pointing out that although the Government has established the Human Resources Planning Commission to follow up on population policy, Hong Kong’s current population policy still lacks comprehensiveness, whether the Government will review the Commission’s work or establish a task force coordinated by an official at the level of Secretary of Department to institutionally integrate cross-departmental resources, with a view to formulating more comprehensive population policy objectives for Hong Kong to address the long-term challenges of population development?
     
    Reply:
     
    President,
     
    In consultation with the Chief Secretary for Administration’s Office, the Deputy Chief Secretary for Administration’s Office, the Labour and Welfare Bureau (LWB), the Housing Bureau (HB), the Financial Services and the Treasury Bureau (FSTB) and the Health Bureau (HHB), the consolidated reply to the questions raised by the Hon Nixie Lam is as follows:
     
    (1) & (2) The Census and Statistics Department (C&SD) has been regularly collating data related to marriage and fertility trends across different age groups. The C&SD also publishes feature articles from time to time, giving a brief account of the marriage and fertility trends in Hong Kong and analysing the factors underlying such trends.
     
    Hong Kong and many countries or places worldwide are facing a decline in fertility rate. In the face of this challenge, the Government must formulate measures to raise fertility rate. As such, the Chief Executive (CE) announced in his 2023 Policy Address a host of measures to promote fertility and create a conducive environment for childbearing through a “combination punches” approach. These measures include providing Newborn Baby Bonus, giving families with newborns priority on flat selection and allocation, enhancing child care support and increasing tax concessions. Office/ bureaux implementing the measures include the Deputy Chief Secretary for Administration’s Office, the HB, the LWB, the HHB, the Home and Youth Affairs Bureau (HYAB) and the FSTB.
     
    The Hong Kong Housing Authority (HA) has implemented the Families with Newborns Allocation Priority Scheme and the Families with Newborns Flat Selection Priority Scheme to encourage childbearing by giving incentives to family applicants of public rental housing (PRH) and subsidised sale flats (SSF) sale exercises.  
     
    Regarding the allocation of PRH, the HA has implemented the Families with Newborns Allocation Priority Scheme since April 1, 2024. PRH family applications with babies born on or after October 25, 2023 and aged one or below are credited one year of waiting time. As at end-June 2025, about 5 000 PRH applications have been credited one year of waiting time under the scheme, of which about 420 families have already been successfully housed to PRH.
     
    As for SSF, starting from the Sale of Home Ownership Scheme (HOS) Flats 2024 (HOS 2024), the HA has implemented the Families with Newborns Flat Selection Priority Scheme which was announced in the 2023 Policy Address. A quota of about 40 per cent of the new flats for sale (i.e. 2 900 flats) under HOS 2024 were set aside for eligible applicants under the Families with Newborns Flat Selection Priority Scheme and the Priority Scheme for Families with Elderly Members for balloting and priority flat selection. Family applicants of HOS with babies born on or after October 25, 2023 are eligible if their children are aged three or below on the closing day of the application.
     
    During the application period of HOS 2024, the HA received a total of around 106 000 applications. Among them, around 50 000 were family applicants, of which around 19 000 (i.e. about 40 per cent) applied under the Priority Scheme for Families with Elderly Members and Families with Newborns Flat Selection Priority Scheme. Among these 19 000 applicants, 800 applicants have successfully purchased flats through the Families with Newborns Flat Selection Priority Scheme. If eligible families applying under the Families with Newborns Flat Selection Priority Scheme fail to purchase a flat under HOS 2024, they may still apply under the Scheme for priority flat selection as long as their children are aged three or below on the closing day of the application in subsequent SSF sale exercises.
     
    The Government announced in the 2023 Policy Address that a cash reward of $20,000 will be provided to eligible parents for each baby born from October 25, 2023, for a period of three years. Starting from October 25, 2023, parents can submit an application for the bonus at the same time when registering the birth of their baby and applying for a birth certificate. As of end-June 2025, a total of 49 567 qualified applications have been received, and the bonus has been distributed to 48 984 applicants, at a total amount of approximately $979 million. The Deputy Chief Secretary for Administration’s Office is carrying out a review of the Newborn Baby Bonus Scheme.
     
    The Government has been supporting parents who cannot take care of their children temporarily through subsidising non-governmental organisations (NGOs) to provide a variety of day child care services, including Child Care Centres (CCCs), the After School Care Programme and the Neighbourhood Support Child Care Project (NSCCP). To strengthen support for working families in childbearing, the Government has announced the setting up of additional 11 aided standalone CCCs in phases, doubling the total number of service places to reach around 2 000. The Government is extending the After School Care Programme for pre-primary children to cover all districts in phases, and increasing the number of service places under the NSCCP to 2 500 with the estimated number of beneficiaries increasing to 25 000. The Social Welfare Department will also provide information and assistance to private organisations applying for registration to operate CCCs, and encourage private organisations to provide child care support for their employees. Meanwhile, the Government reviews the Working Family Allowance (WFA) Scheme from time to time. The rates of the household and child allowances under the WFA Scheme have been increased by 15 per cent across the board with effect from April 2024, benefiting all households receiving the WFA. The WFA Scheme provides additional allowances for relevant childbearing families, and increasing the rates of the WFA helps further alleviate the burden of grassroots working families. Taking a four-person household with two eligible children as an example, the maximum monthly WFA they may receive have increased from the original amount of $4,200 to $4,830 at present.
     
    As regards tax concessions, starting from the year of assessment (YA) 2023/24, the basic child allowance and the additional child allowance for each child born during the YA have been raised from $120,000 to $130,000. In addition, starting from YA 2024/25, for taxpayers who live with their children born on or after October 25, 2023 and meet the prescribed conditions, the deduction ceiling for home loan interest or domestic rents will be raised from $100,000 to $120,000 for a maximum of 19 YAs. These measures can encourage childbearing by helping taxpayers to alleviate their financial burden from raising children.
     
    As regards antenatal services, currently the Obstetrics and Gynaecology Departments of the Hospital Authority and the Maternal and Child Health Centres (MCHCs) of the Department of Health (DH) provide free antenatal services for all local pregnant women who are eligible persons (who generally refer to holders of Hong Kong Identity Cards or such other persons as may be approved by the Chief Executive of the Hospital Authority/ Director of Health) to ensure the health of the pregnant women and their foetuses. The scope of services includes the first antenatal check-up, personal and family medical history, as well as various investigations and vaccinations conducted by doctors according to the clinical needs of individual pregnant women.
     
    Besides, as announced in the 2024 Policy Address, the DH will revamp maternal and child health and family planning services to strengthen pre-pregnancy counselling and parental education and promote healthy fertility. The DH will provide the new pre-pregnancy health services to reproductive age group women at the MCHCs in phases, support women in preparing for pregnancy through health consultation and counselling, health assessments, arrangement of blood tests and other investigations, and provide nutritional dietary and lifestyle advice, to align with the Government’s policy of encouraging and promoting healthy fertility, as well as protecting and advancing maternal and child health. Details on the above initiatives will be announced at an appropriate juncture. In addition, the DH will review and adjust the scope of the subsidised family planning service currently provided by NGOs, so as to dovetail with the Government’s policy of encouraging and promoting healthy fertility.
     
    The HYAB has been supporting the work of the Family Council (the Council) in promoting a culture of loving families to the general public through organising different publicity programmes and activities. In October 2024, the HYAB and the Council launched the five-year Funding Scheme on the Promotion of Family Education (the Scheme). With an annual funding of $8 million, the Scheme subsidises non-profit-making community projects in promoting family education. NGOs may, based on societal needs, apply to the Scheme for funding to implement projects related to topics such as family building, new parents, and marriage-related. On the other hand, the Council has been encouraging the wider adoption of more diversified and flexible family-friendly employment practices (FFEPs) in the community. Measures include launching promotional videos entitled “Family-friendly Workplace”, which feature various FFEPs adopted by local companies, and collaborating with the Radio Television Hong Kong to produce radio programmes to promulgate different types of FFEPs. These measures will also help foster a pro-family environment.
     
    The HYAB launched the first release of the “HKYouth+” youth mobile application in March 2024, and has been continuously updating it to cater to the needs of young people. Its content cover various areas, including personal development opportunities, local hot topics, national development, world news, arts and leisure, innovation and technology, physical and mental wellness. It aims to help young people expand their knowledge, explore interests and enrich themselves in different aspects. The HYAB will work with relevant bureaux and departments to encourage them to make use of “HKYouth+” for strengthening promotion of various support measures to the youth community.
     
    (3) The population policy straddles a wide range of policy areas, involving various bureaux. For the current term of the HKSAR Government, in addition to the standing committees, the CE and Secretaries and Deputy Secretaries of Departments are now providing high-level steer as necessary through various channels, such as working groups and inter-departmental meetings, to coordinate relevant inter-departmental work.
     
    Chaired by the Chief Secretary for Administration, the Human Resources Planning Commission (HRPC) consolidates resources and efforts of the Government and various sectors to examine, review and holistically co-ordinate policies and measures on human resources, including issues pertaining to the population policy. The HRPC is a high-level policy platform, with eight policy secretaries, including Secretary for Commerce and Economic Development, Secretary for Constitutional and Mainland Affairs, Secretary for Education, Secretary for Financial Services and the Treasury, Secretary for Health, Secretary for Innovation, Technology and Industry, Secretary for Labour and Welfare and Secretary for Security; the Government Economist; the Commissioner for Census and Statistics and the Chairmen of the Employees Retraining Board, the Hong Kong Council for Accreditation of Academic and Vocational Qualifications and the Vocational Training Council as ex-officio members; and non-official members drawn from a diverse mix of experts and stakeholders from different fields and sectors. Since its establishment in 2018, the HRPC has looked into a number of issues to tackle the demographic challenges, facilitating the Government to formulate and refine the relevant policies and measures.
     
    Currently, population policy measures have been subsumed under the portfolios of various bureaux as part of the ongoing efforts. As the Government’s existing steering and inter-departmental co-ordination mechanism are flexible and effective, the Government does not consider it necessary to set up a separate structure for the work on the population policy.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ3: Facilitating enterprises to list in Hong Kong

    Source: Hong Kong Government special administrative region

    LCQ3: Facilitating enterprises to list in Hong Kong 
    Question:
     
         To dovetail with the latest economic trends and corporate needs, the Securities and Futures Commission (SFC) and Hong Kong Exchanges and Clearing Limited (HKEX) are conducting a comprehensive review of the listing regime, including reviewing the listing requirements, improving the vetting process and optimising the thresholds for dual listings, so as to further facilitate the emerging sector and overseas enterprises to raise capital in Hong Kong. In this connection, will the Government inform this Council:
     
    (1) whether it will drive the HKEX and the SFC to adjust the listing thresholds for companies with weighted voting right structures and enterprises from the innovative sector, so as to further attract new economy as well as innovation and technology companies to list in Hong Kong;
     
    (2) whether it will consider driving the HKEX to enhance the public float and market capitalisation requirements for listed companies, so as to facilitate more large-scale and overseas enterprises to list in Hong Kong; and
     
    (3) whether it knows the strategies put in place by the HKEX to enhance the efficiency and flexibility of the vetting process for listing, as well as to provide stronger support and clearer guidance for overseas quality enterprises, in response to the increasingly competitive environment of the international capital market?
     
    Reply:
     
    President,
     
         As an international financial centre, Hong Kong has been taking forward high-quality development of its capital market through institutional innovation, thereby enhancing the role as a global fundraising hub. In recent years, the Government has driven the Securities and Futures Commission (SFC) and the Hong Kong Exchanges and Clearing Limited (HKEX) to introduce a series of reforms to the listing regime. These include tailored listing mechanisms for new economy enterprises with weighted voting rights (WVR) structures and technology companies, the establishment of a regulatory framework to facilitate dual primary or secondary listing of overseas listed issuers in Hong Kong, etc.
     
         With the implementation of the series of listing reforms, the primary market has shown notable vibrancy this year. In the first half of the year, Hong Kong recorded 42 initial public offerings (IPOs), raising over HK$107 billion in total, approximately 22 per cent more than the full-year total for last year and ranking first globally in the year-to-date. The number of listing applications is also increasing rapidly. At the end of June, the HKEX was processing over 200 listing applications, the highest level since the same period in 2021. Riding on the positive momentum in 2025, the HKEX and the SFC are taking forward further enhancements to the listing regime so as to boost the vitality and competitiveness of Hong Kong’s listing platform.
     
         In consultation with the SFC and the HKEX, my response to the three parts of the question is as follows:
     
    (1) and (2) To closely follow market developments, the SFC and the HKEX continuously review their listing regime and related requirements, with a view to attracting more high-quality enterprises including overseas and new economy companies to list in Hong Kong, while balancing relevant risks and investor protection. Notably, the HKEX relaxed the market capitalisation requirement for Greater China issuers seeking secondary listing in Hong Kong and removed the relevant condition of being an “innovative company”. “Grandfathered Greater China issuers” and “non-Greater China issuers” with WVR or variable interest entity structures that meet the secondary listing requirements have also been provided with greater flexibility to obtain primary listing status in Hong Kong.
     
         In September 2024, the HKEX and the SFC lowered the market capitalisation threshold at the time of listing for specialist technology companies to enhance the flexibility of the relevant listing framework. In addition, a dedicated “technology enterprises channel” (TECH) was launched in May this year to provide tailored guidance to specialist technology and biotechnology companies before they submit their listing applications, thereby providing support to issuers in their listing preparation process. The issuers may also submit listing applications confidentially, taking into account the unique characteristics of relevant enterprises. These measures are also applicable to overseas technology companies. The HKEX and the SFC will allocate resources flexibly based on application volumes to ensure efficient processing.
     
         The HKEX and the SFC are committed to improving Hong Kong’s listing regime to facilitate listing of more high-quality companies, thereby enhancing the overall competitiveness and vibrancy of Hong Kong as a listing venue. We are conducting a comprehensive review, with the scope of review to cover multiple aspects of the listing regime. In addition to supporting fundraising by enterprises, it also has to safeguard protection of investors’ interests and the overall market quality so as to attract more investors to invest in Hong Kong, which requires in-depth engagement with different stakeholders. We are aware that Dr the Hon Starry Lee and two other Members published a report last week putting forward various recommendations to further enhance the Listing Rules to attract listing of high-quality overseas issuers in Hong Kong. The relevant areas such as reviewing the specific requirements for primary, secondary and dual primary listing, as well as post-listing continuing obligations, etc, are already covered in the scope of the ongoing review by the HKEX and the SFC. Specific proposals will be considered as part of the process. The HKEX will announce relevant enhancement measures with public consultation to be conducted as appropriate once they are ready.
     
         In addition, the HKEX launched a consultation on proposals to enhance IPO price discovery and open market regulation in December 2024, which include a tiered approach to minimum public float requirements at the time of listing based on issuers’ market capitalisation, and seeking views on whether issuers should be allowed greater flexibility to maintain a lower public float post-listing. The HKEX is currently consolidating and reviewing the feedback received, and will conduct further consultation on specific proposals regarding the ongoing public float requirements.
     
    (3) We are committed to attracting companies of various sizes and with growth potential from around the world to list and raise funds in Hong Kong. To this end, the HKEX has streamlined the listing requirements for overseas issuers and introduced a set of core shareholder protection standards applicable to all issuers to facilitate compliance. The HKEX has also issued guidance for overseas issuers seeking to list in Hong Kong and published further jurisdiction-specific explanatory notes on a need basis. To facilitate fundraising by more high-quality companies in Hong Kong, the SFC and the HKEX implemented the enhanced timeframe for approval of new listing applications last year (Note), thereby improving the transparency and efficiency of the listing application process, and providing greater certainty on the vetting time. Enterprises with dual primary listing that meet the relevant eligibility criteria are currently also eligible for inclusion in Southbound trading of Stock Connect.
     
         Building on the various enhancements to the listing regime for overseas issuers, HKEX continues to review the scope of recognised stock exchanges to enable companies listed on overseas main markets to seek secondary listing in Hong Kong. Following the inclusion of the Saudi Exchange, the Indonesia Stock Exchange, the Abu Dhabi Securities Exchange and the Dubai Financial Market onto the list of recognised stock exchanges in 2023 and 2024, the HKEX further added the Stock Exchange of Thailand in March this year, bringing the total number of recognised overseas exchanges on the list to 20.
     
         Looking ahead, the Government, together with the SFC and the HKEX, will continue to step up external promotion efforts to showcase the latest developments and strengths of Hong Kong’s financial services sector, including the listing platform. Meanwhile, the HKEX will explore further expansion of the scope of recognised stock exchanges and simplification of the listing process for overseas issuers, while more proactively providing guidance to facilitate their preparations for listing in Hong Kong.
     
         Thank you, President.
     
    Note: Including confirmation within 40 business days for general new listing applications, or within 30 business days for eligible A-share companies, on whether there are any major regulatory concerns.
    Issued at HKT 14:50

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Foreign arrivals in China continue to surge in H1 via visa-free expansion

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

    Foreign tourists wait for entry inspection at the Shanghai Pudong International Airport in Shanghai, east China, Jan. 15, 2025. [Photo/Xinhua]

    Foreign nationals made 38.05 million cross-border trips to and from China in the first half (H1) of 2025, up 30.2 percent year on year, the National Immigration Administration (NIA) said on Wednesday.

    Visa-free entries continued to rise sharply, with 13.64 million foreigners entering China without a visa in the first six months of the year. This category accounted for 71.2 percent of total foreign entries and represented a 53.9-percent year-on-year increase.

    Overall, immigration authorities across China had processed 333 million inbound and outbound trips from January to June, marking a 15.8-percent rise year on year, the NIA said at a press conference.

    This figure included 159 million trips by mainland residents and 136 million made by residents of Hong Kong, Macao and Taiwan — up 15.9 percent and 12.2 percent, respectively.

    The NIA noted that immigration authorities across the country are steadily advancing openness and improving service efficiency.

    As part of ongoing policy changes, China recently added Indonesia to its 240-hour visa-free transit policy, bringing the total number of eligible countries to 55. This policy allows travelers from these countries to transit through China without a visa for up to 240 hours.

    A new regional visa-free policy has also been introduced, allowing tourist groups from ASEAN countries to enter Xishuangbanna in southwest China’s Yunnan province without a visa.

    China has further expanded its visa exemption arrangements, signing new mutual agreements with Uzbekistan, Malaysia and Azerbaijan, and extending unilateral visa-free entry to nine more countries — Brazil, Argentina, Chile, Peru, Uruguay, Saudi Arabia, Oman, Bahrain and Kuwait.

    MIL OSI China News –

  • MIL-OSI: Trust and human-AI collaboration set to define the next era of agentic AI, unlocking $450 billion opportunity by 2028

    Source: GlobeNewswire (MIL-OSI)

    Press contact: 
    Mollie Mellows
    Tel: +44 7342 709384
    Email: mollie.mellows@capgemini.com

    Trust and human-AI collaboration set to define the next era of agentic AI, unlocking $450 billion opportunity by 2028

    • AI agents are poised to deliver up to $450 billion in economic value by 2028 through revenue gains and cost savings, yet the path to scale is currently elusive
    • Confidence in fully autonomous AI agents dropped from 43% to 27% in the past year amidst privacy and ethical concerns
    • However, AI agents are expected to be involved in most business tasks within three years, with effective human-agent collaboration projected to increase human engagement in high-value tasks by 65%

    Paris, July 16, 2025 – Agentic AI is poised to deliver up to $450 billion in economic value by 2028 yet, despite strong momentum, only 2% of organizations have fully scaled deployment and trust in AI agents is declining. Organizations are discovering that AI agents deliver the greatest impact when humans remain actively involved. Nearly three-quarters of executives say the benefits of human oversight outweigh the costs, and 90% view human involvement in AI-driven workflows as either positive or cost-neutral. This is according to the Capgemini Research Institute’s latest report “Rise of agentic AI: How trust is the key to human-AI collaboration”, that finds trust and human oversight are critical factors in realizing the potential of agentic AI, and the gap between intent and readiness is now one of the biggest barriers to realizing the $450 billion opportunity.

    Agentic AI is one of the fastest-emerging technological trends, but organizations are still in the early stages of application. While nearly a quarter have already launched pilots and a small number have begun implementation (14%), the majority remain in planning mode. This steady progress stands in contrast to executive ambition – nearly all (93%) business leaders believe that scaling AI agents over the next 12 months will provide a competitive edge, yet nearly half of organizations still lack a strategy for implementing them.

    “The economic potential of AI agents is significant but realizing this value depends on more than just the technology, it requires a comprehensive and strategic transformation across people, processes and systems,” said Franck Greverie, Chief Portfolio & Technology Officer, Head of Global Business Lines, and Group Executive Board Member at Capgemini. “To succeed, organizations must remain focused on outcomes, reimagining their processes with an AI-first mindset. Central to this transformation is the need to build trust in AI by ensuring it is developed responsibly, with ethics and safety baked in from the outset. It also means reshaping organizations to support effective human-AI chemistry, creating the right conditions for these systems to enhance human judgment and help deliver superior business outcomes.”

    Organizations prioritize transparency as the agentic AI trust gap widens
    Trust in fully autonomous AI agents has dropped sharply, from 43% to 27% in the past year alone, with nearly two in five executives believing that the risks of implementing AI agents outweigh the benefits. Only 40% of organizations say they trust AI agents to manage tasks and processes autonomously, while most do not fully trust the technology.

    The report finds that as organizations move from exploration to implementation, trust in AI agents grows: for organizations in implementation phase, 47% have an above average level of trust, compared to 37% in exploratory phase. Therefore, organizations are prioritizing transparency, clarity around how AI agents make decisions, and ethical safeguards to drive greater adoption.

    Human-AI chemistry is key to lasting adoption
    The real promise of agentic AI lies in tackling core business challenges and reimagining how work gets done. Within the next 12 months, over 60% of organizations expect to form human-agent teams where AI agents function as subordinates or enhance human capabilities. This means that AI agents can no longer be considered tools, they are becoming active participants in the team.

    70% of organizations believe AI agents will necessitate organizational restructuring, prompting leaders to rethink roles, team structures, and workflows. Enterprises are discovering AI agents deliver most value when humans remain in the loop. With effective human-AI collaboration, organizations expect a 65% increase in human engagement in high-value tasks, a 53% rise in creativity, and a 49% boost in employee satisfaction.

    The time to scale is now
    The $450 billion dollar opportunity for AI agents to deliver new economic value by 2028 includes both revenue uplift and cost savings, driven by the implementation of semi to fully autonomous AI agents. Scaled adoption is found to hold far greater potential, as organizations with scaled implementation are projected to generate approximately $382 million on average over the next three years, while others may realize around $76 million.

    In the near term, AI agents are expected to see most extensive adoption in customer service, IT, and sales, expanding into operations, R&D, and marketing over the next three years. However, most deployments remain at early stages of autonomy with only 15% of all business processes operating at semi-autonomous to fully autonomous levels in a year. While this is expected to rise to 25% by 2028, most agents today function as assistants or copilots, supporting routine tasks rather than independently managing complex workflows.

    AI-readiness remains a challenge
    Today, most organizations are not equipped to scale agentic AI effectively cites the report. 80% lack mature AI infrastructure and fewer than one in five report high levels of data-readiness. Ethical concerns such as data privacy, algorithmic bias, and lack of explainability remain widespread, yet few organizations are taking decisive action. For example, privacy is the primary concern for over half of organizations (51%), yet only 34% are actively taking steps to mitigate it. Compounding this, only half of business leaders say they understand what AI agents are capable of, and even fewer can identify where these systems outperform traditional automation.

    To harness the full potential of AI agents, organizations must move beyond the hype, recommends the report – working toward redesigning processes and reimagining business models, transforming organizational structure, and striking the right balance between agent autonomy and human involvement.

    For more information and to download the full report, click here.

    Report methodology
    The Capgemini Research Institute conducted a global survey of 1,500 executives at organizations each with more than $1 billion in annual revenue across 14 countries. Organizations operate across 13 sectors and all have started to explore Agentic AI. The global survey took place in April 2025. Executives surveyed are at director level and above, and of these, 60% are from data and AI functions, while 40% are from diverse business functions.

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.

    Get The Future You Want | www.capgemini.com

    About the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times – an industry first.

    Visit us at https://www.capgemini.com/researchinstitute/

    Attachments

    The MIL Network –

  • PM Modi announces ex-gratia for victims of Pithoragarh road accident

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Tuesday condoled the deaths in a road accident in Uttarakhand’s Pithoragarh district and announced an ex-gratia of ₹2 lakh for the families of each deceased.

    “Saddened by the loss of lives due to a road accident in Pithoragarh, Uttarakhand. Condolences to those who have lost their loved ones in the mishap. May the injured recover soon. An ex-gratia of ₹2 lakh from PMNRF would be given to the next of kin of each deceased. The injured would be given ₹50,000,” the Prime Minister’s Office posted on X.

    According to police, eight people were killed when a vehicle carrying 13 passengers crashed near the Suni bridge in Muwani town on Tuesday.

    Pithoragarh Superintendent of Police Rekha Yadav said rescue operations are underway. “Police officials have reached the spot and rescue operations are underway,” she said.

    Uttarakhand Chief Minister Pushkar Singh Dhami also expressed grief over the incident and said the district administration has been directed to ensure proper and timely treatment for the injured. He wished them a speedy recovery.

    — ANI

     

  • MIL-OSI: Q1 Trading Statement for the three months ended 30 June 2025

    Source: GlobeNewswire (MIL-OSI)

         
         
      Intermediate Capital Group plc

    16 July 2025

    Q1 Trading Statement for the three months ended 30 June 2025

    Highlights

    • AUM of $123bn; fee-earning AUM of $82bn; AUM not yet earning fees of $19bn
    • Fee-earning AUM up 4%1 in the quarter, up 11%1 year-on-year
    • Fundraising in the quarter of $3.4bn, driven by Europe IX ($1.5bn / €1.3bn) and Infrastructure Europe II ($1.2bn / €1.0bn). Focus from LPs on liquidity and investment performance is continuing to drive manager selection
    • Infrastructure Europe has shown strong momentum into its final close, with Fund II receiving substantially more client capital than the prior vintage: at 30 June 2025 Infrastructure Europe II had a Total Fund Size of €2.5bn (Fund I: €1.5bn), and we expect to close a further €0.6bn before the end of the current quarter, reaching the hard cap for the strategy
    • Europe IX has had an impressive start to the fundraise, with global demand from current and new clients attracted by the strategy’s track record of private equity-like returns with downside protection and high DPI. At 30 June 2025 the Total Fund Size was €5.8bn (Europe VIII: €8.1bn)
    • Investment landscape remains very attractive for a number of strategies, including structured capital, secondaries and real assets equity
    • FY25 Sustainability and People Report published in June 2025, available here

    Unless otherwise stated the financial results discussed herein are on the basis of alternative performance measures (APM) basis; see full year results
    1 On a constant currency basis

    		  

    PERFORMANCE REVIEW

      AUM        
          Growth1
        30 June 2025 Last three months Year-on-year Last five years (CAGR)
      AUM $123bn         3%                 15%                 18%        
      Fee-earning AUM $82bn         4%                 11%                 14%        
               
      1 On a constant currency basis
      Business activity                
                       
      $bn Fundraising   Deployment1   Realisations1,2
      Q1 FY26 LTM   Q1 FY26 LTM   Q1 FY26 LTM
      Structured Capital and Secondaries 1.9 13.3   1.0 9.8   0.4 2.0
      Real Assets 1.3 3.2   0.5 2.7   0.3 1.6
      Debt3 0.2 5.8   1.3 3.8   0.4 3.9
      Total 3.4 22.3   2.8 16.3   1.1 7.5
                       
      1 Direct investment funds; 2 Realisations of fee-earning AUM; 3 Includes Deployment and Realisations for Private Debt only.

    PERIOD IN REVIEW

    AUM and FY26 fundraising

    At 30 June 2025, AUM stood at $123bn, fee-earning AUM at $82bn and dry powder at $34bn. The bridge between AUM and fee-earning AUM is as follows:

    $m Structured Capital and Secondaries Real Assets Debt Seed investments Total
    Fee-earning AUM 39,347 9,375 33,472   82,194
    AUM not yet earning fees 3,278 1,187 14,639 — 19,104
    Fee-exempt AUM 10,686 5,918 1,393 — 17,997
    Balance sheet investment portfolio1 2,412 563 (53) 360 3,282
    AUM 55,723 17,043 49,451 360 122,577
    1 Includes elimination of $657m (£479m) within Credit due to how the balance sheet investment portfolio accounts for and invests into CLO’s managed by ICG and its affiliates

    AUM of $123bn

    AUM ($m) Structured Capital and Secondaries Real Assets Debt Seed investments Total
    At 1 April 2025 51,499 12,922 47,557 379 112,357
    Fundraising 1,933 1,355 154 — 3,442
    Other additions1 202 2,050 75 — 2,327
    Realisations (471) (233) (585) — (1,289)
    Market and other movements 2,607 889 2,218 — 5,714
    Balance sheet movement (47) 60 32 (19) 26
    At 30 June 2025 55,723 17,043 49,451 360 122,577
    Change $m 4,224 4,121 1,894 (19) 10,220
    Change %         8%                 32%                 4%                 (5)        %         9%        
    Change % (constant exchange rate)         3%                 21%                 (1)        %         —                 3%        
    1 Other additions within Real Assets includes $1.9bn non fee-eligible leverage capacity within certain Real Estate strategies

    Fee-earning AUM of $82bn

    Fee-earning AUM ($m) Structured Capital and Secondaries Real Assets Debt Total
    At 1 April 2025 36,086 7,711 31,330 75,127
    Funds raised: fees on committed capital 1,470 1,242 — 2,712
    Deployment of funds: fees on invested capital 281 162 1,235 1,678
    Total additions 1,751 1,404 1,235 4,390
    Realisations (456) (279) (774) (1,509)
    Net additions / (realisations) 1,295 1,125 461 2,881
    Stepdowns — — — —
    FX and other 1,966 539 1,681 4,186
    At 30 June 2025 39,347 9,375 33,472 82,194
    Change $m 3,261 1,664 2,142 7,067
    Change %         9%                 22%                 7%                 9%        
    Change % (constant exchange rate)         4%                 13%                 1%                 4%        

    FY26 fundraising1

    At 30 June 2025, closed-end funds and associated SMAs that were actively fundraising2 included Europe IX, Asia-Pacific Infrastructure I and Real Estate equity. We anticipate launching LP Secondaries II during FY26.

    1 The timings of launches and closes depend on a number of factors, including the prevailing market conditions
    2 Excluding Credit (CLOs and Liquid Credit)

     
    Balance sheet

    • Balance Sheet Investment Portfolio valued at £2.9bn
    • Total available liquidity of £1.1bn (FY25: £1.1bn) and net financial debt of £477m (FY25: £629m)

    FOREIGN EXCHANGE RATES

      Average rate Period end
      Q1 FY25 Q1 FY26 31 March 2025 30 June 2025
    GBP:EUR 1.1753 1.1759 1.1944 1.1652
    GBP:USD 1.2626 1.3507 1.2918 1.3732
    EUR:USD 1.0743 1.1488 1.0815 1.1785

    COMPANY TIMETABLE

    Half year results announcement 13 November 2025

    ENQUIRIES

    Shareholders and debtholders / analysts:  
    Chris Hunt, Head of Corporate Development and Shareholder Relations, ICG +44(0)20 3545 2020
    Media:  
    Clare Glynn, Head of Corporate Communications, ICG +44(0)79 3435 7794

    This results statement may contain forward looking statements. These statements have been made by the Directors in good faith based on the information available to them up to the time of their approval of this report and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward looking information.

    ABOUT ICG

    ICG (LSE: ICG) is a global alternative asset manager with $123bn* in AUM and more than three decades of experience generating attractive returns. We operate from over 20 locations globally and invest our clients’ capital across Structured Capital; Private Equity Secondaries; Private Debt; Credit; and Real Assets.

    Our exceptional people originate differentiated opportunities, invest responsibly, and deliver long-term value. We partner with management teams, founders, and business owners in a creative and solutions-focused approach, supporting them with our expertise and flexible capital. For more information visit our website and follow us on LinkedIn.

    *As at 30 June 2025.

    The MIL Network –

  • MIL-OSI Russia: The 2025 China-Central Asia Human Rights Development Forum was held in Xi’an

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    XI’AN, July 16 (Xinhua) — The 2025 China-Central Asia Human Rights Development Forum was held in Xi’an, capital of northwest China’s Shaanxi Province, on Tuesday.

    The event, themed “Deepening Inter-civilizational Exchanges and Mutual Enrichment for the Common Development of Human Rights,” was organized by the China Foundation for Human Rights Development (CHRDF) and brought together more than 60 participants from China and Central Asian countries, including officials from relevant government departments, experts and scholars, media representatives and human rights protection agencies, as well as responsible persons from public organizations.

    The main topics for discussion include “diversity of civilizations, Asian value system and global human rights governance”, “jointly building a community with a shared future and promoting the development of human rights”.

    Xie Fuzhan, chairman of the China Human Rights Development Foundation, said that in the pursuit of human welfare, no country or nation should be left behind, and cooperation should be pursued to promote development and the results of development should be used to promote progress in human rights.

    In his view, as developing countries, China and the five Central Asian countries should strengthen the coordination of development strategies and promote common modernization so as to bring more benefits to the people of the world and continuously improve the level of human rights protection.

    The forum participants expressed hope for increased exchanges and cooperation between countries in the area of ensuring human rights.

    Previously, a similar forum was held in September 2023 in Beijing and in May 2024 in Astana, respectively. -0-

    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: Prison (Amendment) Rules 2025 to be gazetted on Friday

    Source: Hong Kong Government special administrative region

         The Government will publish the Prison (Amendment) Rules 2025 (Amendment Rules) in the Gazette this Friday (July 18), which will take effect immediately on that day.
     
         A spokesperson for the Security Bureau today (July 16) said, “According to the Decision of the National People’s Congress on Establishing and Improving the Legal System and Enforcement Mechanisms for the Hong Kong Special Administrative Region to Safeguard National Security and the Hong Kong National Security Law, the Hong Kong Special Administrative Region has the constitutional responsibility to continue to improve the legal system and enforcement mechanisms for safeguarding national security steadily so as to continue to prevent, suppress and impose punishment for acts and activities endangering national security effectively. The Prison Rules (PR) have been in operation for many years. We need to review whether the PR can meet the needs of safeguarding national security and modern correctional institution management.”
     
         The spokesperson added, “Having reviewed the relevant law enforcement experience in the past in respect of custody of convicted persons in custody (PICs) and prisoners awaiting trial, potential national security risks and security threats that may be faced by correctional institutions in the future, and relevant law and practices in other jurisdictions (including the United Kingdom, the United States, Canada, Australia, New Zealand and Singapore), we propose to improve the extant PR, so as to ensure that we can effectively prevent, suppress and impose punishment for acts and activities endangering national security; continue to strengthen the legal basis for correctional officers in discharging their duties; maintain the security, good order and discipline of prisons; and facilitate the rehabilitation of PICs and protect their lawful rights and interests. We also put forward other amendments to strengthen the enforcement effectiveness of the Correctional Services Department. At the same time, we have reviewed and will amend other provisions with a view to making the PR more up-to-date and meeting the needs for the management of correctional institutions.
     
         “Amidst the present complicated geopolitical situation, national security risks still exist. It is necessary to amend the PR as soon as possible to prevent and resolve relevant risks in a timely manner, the earlier the better, for safeguarding national security effectively.
     
         “The Amendment Rules will be tabled at the Legislative Council (LegCo) for negative vetting on July 23. The Government will proactively facilitate the scrutiny work of the LegCo, with a view to further strengthening the solid defence in safeguarding national security.”

    MIL OSI Asia Pacific News –

  • MIL-OSI New Zealand: High risk of freezing fog and black ice prompts warning

    Source: New Zealand Transport Agency

    New Zealand Transport Agency Waka Kotahi (NZTA) is warning motorists to be prepared for challenging driving conditions on central South Island highways over the next few days as freezing conditions set in.

    Weather forecasts supplied to NZTA show that persistent freezing fog is likely for parts of State Highways 8 and 80 at least through until Sunday, along with hoar frosts and potential black ice on the roads. The area between Twizel and Tekapo on SH8 is expected to be especially high risk.

    “These types of conditions are not new for roads in the Mackenzie Basin area, but it is important that motorists take notice and adjust their driving for the conditions. Especially when there is an increased risk like this over a number of days,” says NZTA maintenance contract manager Chris Chambers.

    “We are expecting the freezing fog to hang around all day in places and there is a significant risk of black ice, especially in the mornings. All of this means increased risk of accidents and injury. It’s important that drivers take extra care and slow down in these conditions, increase their following distances and drive with their lights on.”

    Fog on State Highway 8 presents a risk for motorists.

    Roading contractors will be out around the clock in the coming days, checking the roads and gritting or de-icing the affected highways to reduce the risk.   

    “If people can avoid travelling on the affected highways during these times of increased risk, they should. Otherwise people need to plan ahead and be aware of the conditions they are travelling into by checking our Journey Planner site,” Mr Chambers says.

    “We have the option of closing sections of highway, or introducing restrictions, if the conditions warrant it. Our preference is to keep the roads open, and motorists can help us do that by driving with caution or staying off the roads if they can.”

    Journey Planner(external link)

    Winter driving advice

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: LCQ4: Measures to cope with economic downturn

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Paul Tse and a reply by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, in the Legislative Council today (July 16):

    Question:

         It has been reported that 300 enterprises in Hong Kong have ceased operation over the first half of this year. Quite a number of enterprises are facing cash flow difficulties, and some are even having their loan called in by the bank (an operation commonly known as “call loan”). Many members of the business sector are worried that, once unable to reverse the fiscal deficit, the Government will raise taxes significantly. Some academics have projected that the Government may need to raise the salaries tax rate to 26.5 per cent before fiscal balance can hopefully be achieved. Against a backdrop of uncertain economic prospects, instability in work income, and substantial increase in living and tax expenses, the public’s investment confidence and desire for consumption have been directly suppressed. In this connection, will the Government inform this Council:

    (1) whether it has examined if there are signs that the Government’s fiscal deficit has narrowed since the release of this year’s Budget and if there is room to reduce bond issuance volumes in the future;

    (2) in the light of the aforesaid worries of the business sector and members of the public about the economy and tax hikes, what policies or measures are put in place by the authorities to stabilise the confidence of various sectors; whether it can explicitly commit to not raising taxes; and

    (3) as it has been reported that a certain major property developer and a number of small and medium-sized developers in Hong Kong are facing operational crises, with some even defaulting on debts and being on the verge of closure, and foreign media have even described a certain major developer as “too big to fail”, so much so that in the event of a closure, it stands to pose a serious crisis to local banks, whether the Government has assessed the negative impact on the banking system, economic structure, unemployment rate, public confidence in investment, consumer sentiment and even government revenue in the event of successive closures of developers, and whether it has formulated counter-measures?

    Reply:

    President,

         Regarding the question raised by the Hon Paul Tse, I will first give a brief account of the latest developments of Hong Kong’s overall economic situation and the Government’s public finance strategies.

         The Hong Kong economy grew solidly. Real gross domestic product rose by 2.5 per cent in the full year of 2024 and the year-on-year increase in the first quarter of 2025 is 3.1 per cent, which is significantly higher than the 1.5 per cent average growth of G7 countries in the first quarter of 2025. As regards the stock market, the Hang Seng Index surged by a cumulative 20 per cent in the first half of the year. Our stock market trading as well as initial public offering was active. The average daily turnover for the first half of the year was around $240.2 billion, an increase of 118 per cent when compared with the same period last year. More than $107 billion was raised in the first half of the year, approximately 22 per cent more than the full-year total for last year and ranking first globally in the year-to-date. Nevertheless, certain sectors, such as traditional retail and catering, are still facing greater challenges due to changing consumption patterns of visitors and residents.

         On public finances, the 2025-26 Budget outlined a reinforced fiscal consolidation programme, focusing primarily on expenditure control, supplemented by revenue generation, to gradually restore balance to government accounts. According to the Medium Range Forecast (MRF), the Government’s Operating Account will largely achieve balance in 2025-26 and return to a surplus starting from 2026-27. The Capital Account is estimated to record a deficit in the MRF period due to the accelerated development of the Northern Metropolis and other capital works projects relating to the economy and people’s livelihood. Nevertheless, the level of deficit will decline year-on-year from 2026-27 onwards. After taking account of net proceeds from the issuance of bonds, the Consolidated Accounts will return to a surplus starting from 2028-29.

         As the question raised by Hon Paul Tse covers a wide range of issues, we have prepared a reply in consultation with the relevant bureaux and the Hong Kong Monetary Authority (HKMA) as follows:

    (1) Fiscal deficit and size of bond issuance

         A consolidated deficit of $67 billion is expected for this financial year. Due to the fact that some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year, it is premature at this juncture to project our full-year financial results. Nevertherless, the increase in trading volume of the stock market in the first half of the year has led to an increase in stamp duty revenue, rendering support to our public finances. Regarding the size of bond issuance, we have planned to issue a total of about $150 billion to $195 billion worth of bonds per annum under the Government Sustainable Bond Programme and the Infrastructure Bond Programme in the next five years. The size of bond issuance for the current financial year is estimated to be $150 billion. We have no intention to change this target at the present stage.

    (2) Economic and tax policy

         The Government has all along been adopting a multi-pronged approach to assist enterprises in meeting the challenges of economic restructuring, with a view to reinforcing their confidence in pursuing business development. As regards cash flow pressure, the Government helps small and medium enterprises (SMEs) obtain commercial loans by providing loan guarantees through the SME Financing Guarantee Scheme. Moreover, in the light of market and technological development trends, the Government supports enterprises (particularly SMEs) through Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund), including its E-commerce Easy, the Export Marketing and Trade and Industrial Organisation Support Fund, etc, in upgrading and transformation, as well as tapping into the Mainland and overseas markets.

         It must be emphasised that the Government did not raise taxes substantially in the past few years, and has no plan to raise taxes substantially at present. The reinforced fiscal consolidation programme outlined in this year’s Budget also focuses primarily on expenditure control, to be supplemented by revenue generation. On identifying new revenue sources, our principles are to maintain the competitiveness of Hong Kong’s simple and low tax regime by avoiding considerable increase in tax rates or introduction of new taxes, and to uphold the “user pays” and “affordable users pay” principles as far as practicable whilst increasing revenue. The simple and low tax policy that Hong Kong has all alone been pursuing is one of Hong Kong’s core competitiveness. In the latest World Competitiveness Yearbook 2025 published by the International Institute for Management Development, Hong Kong’s competitiveness ranks third globally, in which Hong Kong tops the ranking in “tax policy”. Meanwhile, the Government continues to make strategic use of tax measures in different areas to promote the development of our industries and economic diversification, as well as to enhance Hong Kong’s business environment and competitiveness. As announced in this year’s Budget, we will provide half-rate tax concession for eligible commodity traders to drive the development of maritime services. It is also our plan to formulate proposals on the preferential tax regimes for funds, single family offices and carried interest this year to foster the development of the asset and wealth management industries.

    (3) Property related loans’ impact on banking system

         The HKMA has been closely monitoring the healthy development of Hong Kong’s banking sector. The Total Capital Ratio of locally-incorporated banks and the average Liquidity Coverage Ratio of the major banks were 24.2 per cent and 182.5 per cent respectively as at end-March this year, well above international standards. Overall, the credit risk associated with local property development and investment loans is manageable. A significant portion of the Hong Kong banks’ exposures relating to local property development and investment loans are to the large players with relatively good financial health. For exposures to small and medium-sized local property developers and investors, including some with weaker financials or higher gearing, banks have already taken credit risk mitigating measures early on, and most of these loans are secured. Besides, there is no concentration of risks at individual borrower level.

         The overall asset quality of the banking system is manageable and provisions remain sufficient. The provision coverage ratio (i.e. total of general and specific provisions as a percentage of non-performing loans) stand at around 60 per cent as at end-March this year. If taking into account and deducting the market value of collateral from the non-performing loans, the adjusted provision coverage ratio would be about 145 per cent. The HKMA will strive to maintain a sound banking system by continuing to keep a close watch on the global economic and trade conditions as well as the development of and risk changes in the real estate market, and maintaining close communication with the banking sector.

         Thank you, President.

    MIL OSI Asia Pacific News –

  • Thousands of Afghans secretly moved to Britain after data leak

    Source: Government of India

    Source: Government of India (4)

    Britain set up a secret scheme to bring thousands of Afghans to the UK after their personal details were disclosed in one of the country’s worst ever data breaches, putting them at risk of reprisals from the Taliban after their return to power.

    Concerns that individuals could be targeted by the Taliban led the previous Conservative government to set up the relocation scheme, involving thousands of people and estimated to cost the government about 2 billion pounds ($2.7 billion).

    The leak by the Ministry of Defence in early 2022, which led to data being published on Facebook the following year, and the secret relocation programme, were subject to a so-called super injunction preventing the media reporting what happened, which was lifted on Tuesday by a court.

    British defence minister John Healey apologised for the leak, which included details about members of parliament and senior military officers who supported applications to help Afghan soldiers who worked with the British military and their families relocate to the UK.

    “This serious data incident should never have happened,” Healey told lawmakers in the House of Commons. ”It may have occurred three years ago under the previous government, but to all whose data was compromised I offer a sincere apology.”

    The incident ranks among the worst security breaches in modern British history because of the cost and risk posed to the lives of thousands of Afghans, some of whom fought alongside British forces until their chaotic withdrawal in 2021.

    Healey said about 4,500 Afghans and their family members have been relocated or were on their way to Britain under the previously secret scheme.

    But he added that no-one else from Afghanistan would be offered asylum because of the data leak, citing a government review which found little evidence of intent from the Taliban to seek retribution against former officials.

    The review, a summary of which was also published on Tuesday, said more than 16,000 people affected by it had been relocated to the UK as of May this year, though some of those had been relocated to the UK under existing schemes.

    News of the leak comes as Britain’s public finances are tight and the right-wing, anti-immigration Reform UK political party leads in the opinion polls.

    SUPERINJUNCTION LIFTED

    The government is facing lawsuits from those affected by the breach, further adding to the ultimate cost of the incident.

    Sean Humber, a lawyer at Leigh Day who has acted for Afghan citizens affected by previous data breaches, said those affected were “likely to have strong claims for substantial compensation” for the anxiety and distress caused by the leak.

    British forces were first deployed to Afghanistan in 2001 following the September 11 attacks on the United States, and they played a major role in combat operations there until 2014.

    In early 2022, a spreadsheet containing details of Afghans who had worked for the British government prior to the Taliban takeover in 2021 and had applied for relocation to Britain was emailed to someone outside of government systems by mistake.

    The super injunction was first granted in 2023 after the Ministry of Defence, under the former Conservative government, argued that a public disclosure of the breach could put people at risk of extra-judicial killing or serious violence by the Taliban.

    Prime Minister Keir Starmer’s centre-left government, which was elected last July, launched a review into the injunction, the breach and the relocation scheme.

    (Reuters)

     

  • Iceland volcano erupts for 12th time since 2021

    Source: Government of India

    Source: Government of India (4)

    A volcano erupted in south-west Iceland on Wednesday, the country’s meteorological office said, marking the latest in a series of outbreaks near the capital in recent years.

    Often referred to as a land of ice and fire, the North Atlantic island nation with its many glaciers and volcanoes has now seen a dozen eruptions since geological systems on its Reykjanes peninsula reactivated in 2021.

    The outbreaks, known as fissure eruptions, are characterised by lava flows emerging from long cracks in the earth’s crust, rather than from a central crater.

    The Reykjanes eruptions have not so far posed a threat to the capital Reykjavik, nor have they caused significant dispersals of ash into the stratosphere, avoiding air traffic disruption.

    The nearby fishing town of Grindavik, home to nearly 4,000 residents before an evacuation order in 2023, however remains mostly deserted due to the periodic threat from lava flows and related eartquakes.

    The Blue Lagoon luxury spa and the nearby Svartsengi thermal power station have also been at risk from lava in some of the previous eruptions.

    Experts have said the eruptions in the area could recur for decades, or even centuries.

    Iceland, which is roughly the size of the U.S. state of Kentucky and has fewer than 400,000 residents, boasts more than 30 active volcanoes.

    That makes the north European island a prime destination for volcano tourism – a niche segment that attracts thousands of thrill seekers every year to sites from Mexico and Guatemala, to Sicily, Indonesia and New Zealand.

    (Reuters)

  • Nvidia’s resumption of AI chips to China is part of rare earths talks, says US

    Source: Government of India

    Source: Government of India (4)

    Nvidia’s planned resumption of sales of its H20 AI chips to China is part of U.S. negotiations on rare earths, Commerce Secretary Howard Lutnick said on Tuesday, and comes days after its CEO met President Donald Trump.

    “We put that in the trade deal with the magnets,” Lutnick told Reuters, referring to an agreement Trump made to restart rare earth shipments to U.S. manufacturers. He did not provide additional detail.

    Nvidia said late on Monday that it is filing applications with the U.S. government to resume sales to China of its H20 graphics processing unit, and has been assured by the U.S. it will get the licences soon.

    The planned resumption is a reversal of an export restriction imposed in April that is designed to keep the most advanced AI chips out of Chinese hands over national security concerns, an issue that has found rare bipartisan support. It drew swift questions and criticism from U.S. legislators on Tuesday.

    The decision “would not only hand our foreign adversaries our most advanced technologies, but is also dangerously inconsistent with this Administration’s previously-stated position on export controls for China,” Democratic Representative Raja Krishnamoorthi, ranking member of the House of Representatives Select Committee on China, said in a statement.

    Republican John Moolenaar, chair of that committee, said in a statement he would seek “clarification” from the Commerce Department.

    “The H20 is a powerful chip that, according to our bipartisan investigation, played a significant role in the rise of PRC AI companies like DeepSeek,” Moolenaar said, referring to a Chinese startup that claims to have built AI models at a fraction of the cost paid by U.S. firms such as OpenAI. “It is crucial that the U.S. maintain its lead and keep advanced AI out of the hands of the CCP.”

    Shares of Nvidia, the world’s most valuable firm, closed up 4% and were nearly unchanged in after-market trading. Nvidia had estimated that the curbs would cut its revenue by $15 billion.

    Nvidia’s plan to resume sales has set off a scramble at Chinese firms to buy H20 chips, two sources told Reuters. The chips that Nvidia will resume selling are the best it can legally offer in China but lack much of the computing power of the versions for sale outside of China because of previous restrictions put in place by Trump’s first administration and then President Joe Biden’s administration.

    But critically, H20 chips work with Nvidia’s software tools, which have become a de facto standard in the global AI industry.

    CEO Jensen Huang, who is visiting Beijing and set to speak at an event on Wednesday, has argued that Nvidia’s leadership position could slip away if the company cannot sell to Chinese developers being courted by Huawei Technologies with chips produced in China.

    The significance of the shift depends on the volume of H20 chips that the U.S. allows to be shipped to China, said Divyansh Kaushik, an AI expert at Beacon Global Strategies, a Washington-based advisory firm.

    “If China is able to get a million H20 chips, it could significantly narrow, if not overtake, the U.S. lead in AI,” he said.

    CHINA IS CRUCIAL

    “The Chinese market is massive, dynamic, and highly innovative, and it’s also home to many AI researchers,” Huang told Chinese state broadcaster CCTV on Tuesday.

    China generated $17 billion in revenue for Nvidia in the fiscal year ending January 26, or 13% of total sales, based on its latest annual report.

    Internet giants ByteDance and Tencent 0700.HK are also in the process of submitting applications for H20 chips, the sources familiar with the matter said. Central to the process is an approved list put together by Nvidia for Chinese companies to register for potential purchases, one of the sources said.

    Tencent did not respond to a request for comment. ByteDance denied in a statement that it is currently submitting applications. Nvidia declined to comment on the approved list system.

    Asked at a regular foreign ministry briefing in Beijing about Nvidia’s plans to resume AI chip sales, a spokesperson said: “China is opposed to the politicisation, instrumentalisation and weaponisation of science, technology and economic and trade issues to maliciously blockade and suppress China.”

    China halted exports of rare earths in March following a trade spat with Trump that has shown some signs of easing. It dominates the market for rare earths, a group of 17 metals used in cellphones, weapons, electric vehicles, and more.

    Huang’s visit is being closely watched in both China and the United States, where a bipartisan pair of senators last week sent the CEO a letter asking him to abstain from meeting companies working with military or intelligence bodies.

    The senators also asked Huang to refrain from meeting with entities named on the United States’ restricted export list.

    Rival AI chipmaker AMD also said the Department of Commerce would review its licence applications to export its MI308 chips to China; it plans to resume those shipments when licences are approved, it said. Its shares gained 7% in trading on Tuesday.

    (Reuters)

  • Millions benefitted, focus will remain on youth: PM Modi on 10 years of Skill India

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Tuesday reaffirmed the government’s commitment to building a skilled and self-reliant workforce as the Skill India Mission completed ten years.

    Calling the mission a “transformative initiative”, PM Modi said it has empowered millions of young people across the country with new skills and opportunities.

    In reply to a post on social media platform X by MyGovIndia and Union Minister Jayant Singh, the Prime Minister said, “Skill India is strengthening the resolve to make our youth skilled and self-reliant.”

    “The Skill India initiative has benefited countless people, empowering them with new skills and creating opportunities. In the coming times as well, we will keep focusing on equipping our Yuva Shakti with new skills, in line with global best practices, so that we can realise our dream of a Viksit Bharat,” the PM added.

    https://x.com/narendramodi/status/1945137452588409051

    Launched in 2015, the Skill India Mission aims to train millions in industry-relevant skills to enhance employability and promote entrepreneurship. The government has said it will continue to expand skilling programmes to meet global standards and help India’s youth contribute to building a developed nation.

  • MIL-OSI China: Qinghai pioneers green growth with ecology-first strategy

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

    Standing at the heart of a 609-sq-km photovoltaic park located in the Talatan Gobi Desert in Gonghe County, northwest China’s Qinghai Province, China Arab TV correspondent Ayoub Bechrouri enthusiastically began recording his report with his smartphone.

    Behind him stretches a captivating “blue sea” — an endless expanse of photovoltaic panels covering the landscape. Beneath these gleaming solar arrays, verdant grasslands thrive where flocks of sheep graze contentedly, showcasing the perfect harmony between renewable energy and sustainable agriculture.

    “This is a good example of green energy development,” Bechrouri said. “I hope to see China-Arab collaboration bring Chinese technologies to Arab countries.”

    Hailing from Morocco, Bechrouri was part of a delegation of around 30 international journalists from countries including the United States, Germany, Japan and Spain on a three-day tour of Qinghai organized by China’s State Council Information Office. The media delegation experienced firsthand how this northwestern province is pioneering China’s ecological civilization drive through concrete green development projects.

    ECO-FRIENDLY ENERGY

    “In a sunny country like Spain, people have been paying attention to the ecological impact of the construction of large photovoltaic power stations,” said Alvaro Alfaro Ruiz-Alberdi, a journalist at the Spanish news agency Agencia EFE. “I find it interesting to examine how Qinghai maintains the balance between this energy development and environmental protection.”

    The Spanish correspondent found the answer at this very photovoltaic park, one of the highest-capacity solar power facilities globally, in Gonghe.

    The park’s innovative eco-industrial model — power generation atop solar panels, grass cultivation between panels, and sheep grazing beneath them — has restored vegetation coverage to 80 percent in an area that was once a dust-blown stretch of the Gobi Desert, according to Wang Anwei, director of the energy bureau of Hainan Tibetan Autonomous Prefecture, which administers Gonghe.

    This agrivoltaic model has also boosted income for livestock farming, generating over 10,000 yuan (about 1,398 U.S. dollars) per mu (about 0.07 hectares), and has helped lift 173 neighboring villages out of poverty.

    “Now my flock has grown to about 800 sheep, and my income from grazing alone has doubled compared to before,” said Zhao Guofu, a herder who began grazing his sheep here six years ago.

    By the end of 2024, the total investment in clean energy in the Hainan Tibetan Autonomous Prefecture reached 16.18 billion yuan, with annual clean energy power generation amounting to 46.32 billion kWh. Notably, photovoltaic power generation was about 17.9 billion kWh, representing a year-on-year increase of 16.21 percent.

    IMPROVED BIODIVERSITY PROTECTION

    In the summer, Qinghai Lake, located in the northeastern part of the Qinghai-Xizang Plateau, shimmers with azure waves, teeming with visitors. Brown-headed gulls wheel above the water surface, while vast schools of the lake’s unique species, naked carp, which is classified as vulnerable on the China Species Red List, glide beneath.

    “The naked carp constitutes over 90 percent of the lake’s total fish population and serves as the primary prey for birds such as brown-headed gulls. This species plays a vital role in maintaining the ecosystem and biodiversity of the Qinghai Lake basin,” said Wang Shuning, with the protection and utilization administration of the Qinghai Lake scenic area.

    Due to overfishing and environmental deterioration, the population of naked carp sharply declined in the 1960s and 1970s. In order to protect the species and restore the Qinghai Lake environment, Qinghai banned naked carp fishing at the lake in 2001, following a series of temporary prohibitions from the 1980s onward.

    Between 2002 and 2023, the biomass of naked carp increased nearly 46-fold. Additionally, as the only habitat of Przewalski’s gazelles, an endangered antelope species, the Qinghai Lake basin has seen the total number of the species recover from fewer than 300 at the beginning of conservation efforts to approximately 3,400 currently. This remarkable growth reflects the concerted conservation efforts by both the Chinese government and local communities.

    The province has adopted a holistic approach to the protection and systematic governance of the symbiotic ecosystem of “water-grass-fish-birds-animals” in the Qinghai Lake basin. It has established monitoring platforms for ecological sensing and hydrological early warning, and has gradually set up over 300 ecological monitoring sites.

    Two years ago, local resident Dorje Tsomo became an ecological ranger at the Qinghai Lake scenic area. On duty, she always carries a camera to document environmental changes around the lake and a field manual compiling 98 species of waterbirds, which serves as her constant reference for learning their distinctive features, distributions and conservation statuses.

    “We also use a WeChat mini-program to document patrol routes, while nearby villagers promptly report injured birds. Together, we protect Qinghai Lake, the home we all share,” she said.

    According to Chen Dehui, deputy director of the protection and utilization administration of the Qinghai Lake scenic area, growing numbers of herders are voluntarily taking on new roles — as photographers capturing the lake’s natural beauty and as interpreters in ecological education programs — diversifying their income sources while sharing in the rewards of conservation.

    “Qinghai Lake’s ecological conservation is truly impressive,” said Furuta Natsuya, a journalist with Japan’s Hokkaido Shimbun who visited Qinghai for the first time. “Here, I witnessed a genuine model of human-nature coexistence and felt the profound connection between people and the natural world.”

    ECOLOGY-ENRICHED PROSPERITY

    In April this year, Kanbula, located in Jainca County of Huangnan Tibetan Autonomous Prefecture in Qinghai, was officially designated as a UNESCO Global Geopark. The park spans roughly 3,149 square kilometers with striking fiery-red Danxia landforms, towering jagged peaks, hidden caves and emerald lakes.

    “This world-class geological landmark not only enhances geo-conservation efforts, but also accelerates local infrastructure development, drawing global visitors to fuel cultural tourism revenues in the area,” said Hou Guangliang, a professor at Qinghai Normal University’s school of geographical sciences.

    In recent years, Dekyi Village, which is near the geopark, has become a living example of turning “ecological assets into economic gains.”

    “Thanks to government-sponsored training programs, our family now runs a homestay and agritourism business,” local villager Jorgyi said. “Last year, we earned over 70,000 yuan, and this year looks even more promising.”

    The village receives over 200,000 annual visitors, generating more than 1 million yuan in collective and individual dividends.

    “Like many regions in Hokkaido facing population decline, I’m particularly interested in rural revitalization. I hope to gain firsthand insights into how Chinese grassroots communities have experienced poverty alleviation and the tangible outcomes of government initiatives,” said Furuta.

    Both China and Japan are actively exploring sustainable development pathways, Furuta noted, adding that the Qinghai visit gave him profound insight into how both countries’ successful practices in community governance, ecotourism and cultural integration merit mutual learning. 

    MIL OSI China News –

  • MIL-OSI New Zealand: New Zealand and Malaysia commit to boosting halal meat trade

    Source: New Zealand Government

    New Zealand and Malaysia have committed to boosting trade in high-quality halal meat products.

    Minister for Food Safety Andrew Hoggard says, “Malaysia is a significant market for New Zealand’s premium halal meat products, with exports of more than $60 million last year.”

    “Malaysia is facilitating the approval of several New Zealand halal meat premises seeking first-time access to this market, which is crucial to growing exports.

    “With a population of more than 35 million people, new access will help set the stage for significant growth in the Malaysian market.

    “Once approved, this will boost returns for Kiwi farmers, processors and exporters,” Mr Hoggard says.

    Malaysian authorities will visit the new premises to review their halal production processes as part of the approval process.

    This progress was announced at a Halal Forum in Wellington today, hosted by Mr Hoggard and Malaysia Deputy Prime Minister and Minister for Rural and Regional Development Dato’ Seri Dr. Ahmad Zahid bin Haji Hamidi.

    Dato’ Seri Zahid says New Zealand and Malaysia are also working closely together to streamline the export requirements for New Zealand halal meat.

    “Malaysia places significant importance on compliance with halal requirements.”

    “We are working hard with New Zealand to strengthen halal collaboration, which includes refreshing the requirements for the export of halal meat to Malaysia. This is a testament to the strong relationship between both countries, and the confidence Malaysia has in New Zealand’s halal processing and assurance systems,” Dato’ Seri Zahid says.

    Mr Hoggard says the refreshed requirements will help provide certainty for Kiwi producers in areas including registration of new premises, documentation, processing, labelling, packaging, and storage.

    “New Zealand remains fully committed to our strong relationship with Malaysia and supplying the best quality halal products to consumers in this important market.”

    MIL OSI New Zealand News –

  • MIL-OSI: Richemont posts solid start to the year for its first quarter ended 30 June 2025

    Source: GlobeNewswire (MIL-OSI)

    AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

    16 JULY 2025

    RICHEMONT POSTS SOLID START TO THE YEAR FOR ITS FIRST QUARTER ENDED 30 JUNE 2025

      
    Highlights for the quarter ended 30 June 2025

    • Group sales at € 5.4 billion, up by 6% at constant exchange rates and by 3% at actual exchange rates in a volatile macroeconomic and geopolitical context
    • Continued strength at Jewellery Maisons, up by 11% at constant exchange rates; softer sequential rate of decline at Specialist Watchmakers, down by 7%; ‘Other’, including Fashion & Accessories Maisons, at -1%
    • Double-digit growth in Europe, the Americas and Middle East & Africa; stable sales in Asia Pacific at constant exchange rates; Japan down on high comparatives in prior-year period
    • Consistent growth across all distribution channels, led by Jewellery Maisons
    • Robust net cash position at € 7.4 billion, after cash transferred to YNAP upon closing of the sales transaction with LuxExperience 
    April-June   2025 2024 Movement at:
        €m €m constant rates actual rates
    By region Europe 1 295 1 171 +11% +11%
      Asia Pacific 1 731 1 809 – -4%
      Americas  1 335 1 215 +17% +10%
      Japan  527 603 -15% -13%
      Middle East & Africa  524 470 +17% +11%
               
    By distribution channel Retail 3 734 3 631 +6% +3%
      Online retail  323 315 +6% +3%
      Wholesale and royalty income  1 355 1 322 +6% +2%
               
    By business area Jewellery Maisons 3 914 3 656 +11% +7%
      Specialist Watchmakers 824 911 -7% -10%
      Other 674 701 -1% -4%
    Total   5 412 5 268 +6% +3%

    Review of trading in the three-month period ended 30 June 2025 versus the prior-year period, at constant exchange rates

    Any long form references to Hong Kong, Macau and Taiwan within this company announcement are Hong Kong SAR, China; Macau SAR, China; and Taiwan, China respectively.

    At constant exchange rates, Group sales in the quarter ended 30 June 2025 rose by 6% in a volatile global macroeconomic and geopolitical context.

    The growth was led by double digit increases in Europe, the Americas and Middle East & Africa, more than offsetting Japan’s sales decline against high prior-year comparatives; sales in the Asia Pacific region remained stable. In Europe, sales grew by 11%, driven by robust demand from local clients and overall positive tourist spend, supported by successful high jewellery events. Almost all main markets in the region saw an increase in sales this quarter, with notable performances in Italy and Germany. In the Americas, sales growth remained strong at +17%, driven by supportive local demand across all business areas and markets. Sales in the Middle East & Africa region rose by 17%, led by the United Arab Emirates market as well as higher tourist spend. In Japan, sales declined by 15% against a demanding +59% comparative in the prior-year period, with a strengthening Yen strongly reducing tourist spend, most notably from Chinese clientele, whilst local demand remained positive. Asia Pacific sales were stable overall versus the prior-year period, as a 7% decline in China, Hong Kong and Macau combined was fully compensated by robust growth in almost all other Asian markets. Of note, sales in Australia and South Korea were up double digits.

    Growth was consistent across all distribution channels, each up by 6%, led by Jewellery Maisons. Retail sales accounted for 69% of Group sales, with growth across all regions excluding Japan. Wholesale sales growth was driven by solid increases in the Americas, Europe and Middle East & Africa. Online retail sales showed robust growth across almost all regions.

    The Group’s four Jewellery Maisons – Buccellati, Cartier, Van Cleef & Arpels and Vhernier – recorded an 11% rise in sales, marking a third consecutive quarter of double-digit growth, supported by both jewellery and watch product lines. All regions posted growth, except Japan that faced a very high comparative in the prior-year period. Specialist Watchmakers sales were 7% lower than the prior-year period, largely reflecting declines in sales in China, Hong Kong and Macau combined as well as in Japan, partly offset by double-digit growth in the Americas. The Group’s Other business area, which includes Fashion & Accessories Maisons, declined by 1% compared to the prior-year period. Notable highlights included continued solid momentum at Peter Millar and Alaïa, an encouraging performance at Chloé and robust growth at Watchfinder & Co.

    The Group’s net cash position at 30 June 2025 stood at € 7.4 billion (2024: € 7.3 billion) after accounting for the € 426 million cash-out upon completion of the sale of YNAP to Mytheresa on 23 April 2025.

    Corporate calendar

    The annual general meeting will be held on Wednesday 10 September 2025 in Geneva. The interim results for the current financial year will be announced on Friday 14 November 2025. The Group’s corporate calendar is available on https://www.richemont.com/investors/corporate-calendar/.

    About Richemont
    At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

    Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as Watchfinder & Co. Find out more at https://www.richemont.com/ .

    Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. The ‘A’ shares are also traded on the Johannesburg Stock Exchange, Richemont’s secondary listing.


    Investor/analyst and media enquiries

    Alessandra Girolami, Group Investor Relations Director

    James Fraser, Investor Relations Executive

    Investors/analysts enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net 

    Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com 

    Disclaimer

    The financial information contained in this announcement is unaudited.

    This document contains forward-looking statements as that term is defined in the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Richemont’s forward-looking statements are based on management’s current expectations and assumptions regarding the Company’s business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. Our retail stores are heavily dependent on the ability and desire of consumers to travel and shop and a decline in consumers traffic could have a negative effect on our comparable store sales and/or average sales per square foot and store profitability resulting in impairment charges, which could have a material adverse effect on our business, results of operations and financial condition. Reduced travel resulting from economic conditions, retail store closure orders of civil authorities, travel restrictions, travel concerns and other circumstances, including disease epidemics and other health-related concerns, could have a material adverse effect on us, particularly if such events impact our customers’ desire to travel to our retail stores. International conflicts or wars, including resulting sanctions and restrictions on importation and exportation of finished products and/or raw materials, whether self-imposed or imposed by international countries, non-state entities or others, may also impact these forward-looking statements. If international tariffs are imposed or increased, materials and goods that Richemont imports may face higher prices, which could lead to reduced margins or increased prices that could cause decreased consumer demand. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside the Group’s control. Richemont does not undertake to update, nor does it have any obligation to provide updates of, or to revise, any forward-looking statements.

    © Richemont 2025

    This announcement does not contain full details and should not be used as a basis for any investment decision in relation to the Company’s shares. Please find the full announcement available in PDF below:

    Richemont FY26 – Q1 Sales PDF EN

    The MIL Network –

  • Trump to meet Qatar’s PM to discuss Gaza ceasefire deal, Axios reports

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump will meet with Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani on Wednesday to discuss negotiations over a Gaza ceasefire deal, Axios reporter Barak Ravid posted on X.

    Israeli and Hamas negotiators have been taking part in the latest round of ceasefire talks in Doha since July 6, discussing a U.S.-backed proposal for a 60-day ceasefire that envisages a phased release of hostages, Israeli troop withdrawals from parts of Gaza and discussions on ending the conflict.

    Trump’s Middle East envoy Steve Witkoff had said on Sunday that he was “hopeful” on the ceasefire negotiations underway in Qatar, a key mediator between the two sides.

    U.S., Qatari and Egyptian mediators have been working to secure an agreement, however, Israel and Hamas are divided over the extent of an eventual Israeli withdrawal from the Palestinian enclave.

    The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered in October 2023 when Hamas attacked Israel. Israel says Hamas killed 1,200 and took about 250 hostages.

    Gaza’s health ministry says Israel’s subsequent military assault has killed over 58,000 Palestinians. It has also caused a hunger crisis, internally displaced Gaza’s entire population and prompted accusations of genocide at the International Court of Justice and of war crimes at the International Criminal Court. Israel denies the accusations.

    A previous two month ceasefire ended when Israeli strikes killed more than 400 Palestinians on March 18. Trump earlier this year proposed a U.S. takeover of Gaza, which was condemned globally by rights experts, the U.N. and Palestinians as a proposal of “ethnic cleansing.”

    Trump and Sheikh Mohammed are also expected to discuss efforts to resume talks between the U.S. and Iran to reach a new nuclear agreement, Ravid added citing a source familiar with the matter.

    (Reuters)

  • MIL-OSI: ASML reports €7.7 billion total net sales and €2.3 billion net income in Q2 2025

    Source: GlobeNewswire (MIL-OSI)

    ASML reports €7.7 billion total net sales and €2.3 billion net income in Q2 2025
    Full-year 2025 expected total net sales growth of around 15% with gross margin around 52%

    VELDHOVEN, the Netherlands, July 16, 2025 – Today, ASML Holding NV (ASML) has published its 2025 second-quarter results.

    • Q2 total net sales of €7.7 billion, gross margin of 53.7%, net income of €2.3 billion
    • Quarterly net bookings in Q2 of €5.5 billion2 of which €2.3 billion is EUV
    • ASML expects Q3 2025 total net sales between €7.4 billion and €7.9 billion, and a gross margin between 50% and 52%
    • ASML expects a full-year 2025 total net sales increase of around 15% relative to 2024, with a gross margin of around 52%
    (Figures in millions of euros unless otherwise indicated) Q1 2025   Q2 2025
    Total net sales 7,742   7,692
    …of which Installed Base Management sales1 2,001   2,096
    New lithography systems sold (units) 73   67
    Used lithography systems sold (units) 4   9
    Net bookings2 3,936   5,541
    Gross profit 4,180   4,130
    Gross margin (%) 54.0   53.7
    Net income 2,355   2,290
    EPS (basic; in euros) 6.00   5.90
    End-quarter cash and cash equivalents and short-term investments 9,104   7,248

    (1) Installed Base Management sales equals our net service and field option sales.
    (2) Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted.
    Numbers have been rounded for readers’ convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.com.


    CEO statement and outlook
    “Our second-quarter total net sales came in at €7.7 billion, at the top end of our guidance. The gross margin was 53.7%, above guidance, primarily driven by higher upgrade business and one-offs resulting in lower costs.

    “We see continued progress in litho intensity, particularly in DRAM, and the introduction of the TWINSCAN NXE:3800E reinforces that momentum. Meanwhile, EUV adoption is advancing as planned, including High NA. This quarter, we shipped the first TWINSCAN EXE:5200B system.

    “Looking at 2026, we see that our AI customers’ fundamentals remain strong. At the same time, we continue to see increasing uncertainty driven by macro-economic and geopolitical developments. Therefore, while we still prepare for growth in 2026, we cannot confirm it at this stage.

    “We expect third-quarter total net sales between €7.4 billion and €7.9 billion, with a gross margin between 50% and 52%. We expect R&D costs of around €1.2 billion and SG&A costs of around €310 million. For the full year 2025, we expect a 15% increase in total net sales and a gross margin of around 52%,” said ASML President and Chief Executive Officer Christophe Fouquet.

    Update dividend and share buyback program
    An interim dividend of €1.60 per ordinary share will be made payable on August 6, 2025.

    In the second quarter, we purchased around €1.4 billion worth of shares under the current 2022–2025 share buyback program.

    Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend are published on ASML’s website (www.asml.com/investors).

    Media Relations contacts Investor Relations contacts
    Monique Mols +31 6 5284 4418 Jim Kavanagh +31 40 268 3938
    Willem van Ewijk +31 6 2744 1187 Pete Convertito +1 203 919 1714
    Karen Lo +886 9 397 88635 Peter Cheang +886 3 659 6771
    Sarah de Crescenzo +1 925 899 8985  

      
    Quarterly video interview and investor call
    With this press release, ASML is publishing a video interview in which CEO Christophe Fouquet and CFO Roger Dassen discuss the 2025 second quarter and outlook for 2025. This video and the video transcript can be viewed on www.asml.com shortly after the publication of this press release.

    An investor call for both investors and the media will be hosted by CEO Christophe Fouquet and CFO Roger Dassen on July 16, 2025 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website.

    About ASML
    ASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity’s toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across EMEA, the US and Asia. Every day, ASML’s more than 44,000 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our products, technology and career opportunities – at www.asml.com.

    US GAAP and IFRS Financial Reporting
    ASML’s primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly US GAAP Consolidated Statements of Operations, Consolidated Statements of Cash Flows and Consolidated Balance Sheets are available on www.asml.com.

    The Consolidated Balance Sheets of ASML Holding N.V. as of June 29, 2025, the related Consolidated Statements of Operations and Consolidated Statements of Cash Flows for the quarter and six-month period ended June 29, 2025, as presented in this press release, are unaudited.

    Today, July 16, 2025, ASML also published its Statutory Interim Report for the six-month period ended June 29, 2025. The Statutory Interim Report is available on www.asml.com.

    Regulated information
    This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Forward Looking Statements

    This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including trends in the semiconductor industry and end markets and business environment trends, expected growth in the semiconductor industry by 2030, our expectation that AI will be the key driver for the industry and the expected impact of AI demand on our business and results, our expectation that lithography will remain at the heart of customer innovation, expected demand, bookings, outlook of market segments, outlook and expected financial results including 2025 second-half outlook, expected results for Q3 2025, including net sales, Installed Base Management sales, gross margin, R&D costs, SG&A costs, outlook for full year 2025, including expected full year 2025 total net sales, gross margin, estimated annualized effective tax rate and expected IBM sales, expected full-year net sales growth percentage relative to 2024, current expectations relating to 2026 including expected drivers and uncertainties and preparation for growth in 2026, statements made at our 2024 Investor Day, including modelled revenue and gross margin opportunity for 2030, statements with respect to tariff announcements and the expected impact of such tariffs on our business and results, our expectation to continue to return significant amounts of cash to shareholders through growing dividends and share buybacks, statements with respect to our share buyback program, and statements with respect to dividends, statements with respect to expected performance and capabilities of our systems and customer plans, statements with respect to our ESG strategy and commitments and other non-historical statements. You can generally identify these statements by the use of words like “may”, “expect”, “will”, “could”, “should”, “project”, “believe”, “anticipate”, “expect”, “plan”, “estimate”, “forecast”, “potential”, “intend”, “continue”, “target”, “future”, “progress”, “goal”, “model”, “opportunity”, “commitment” and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions, plans and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve a number of substantial known and unknown risks and uncertainties. These risks and uncertainties include, without limitation, risks relating to customer demand, semiconductor equipment industry capacity, worldwide demand for semiconductors and semiconductor manufacturing capacity, lithography tool utilization and semiconductor inventory levels, general trends and consumer confidence in the semiconductor industry, the impact of general economic conditions, including the impact of the current macroeconomic environment on the semiconductor industry, semiconductor market conditions, the ultimate impact of AI on our industry and business, the impact of inflation, interest rates, wars and geopolitical developments, the impact of pandemics, the performance of our systems, the success of technology advances and the pace of new product development and customer acceptance of and demand for new products, our production capacity and ability to adjust capacity to meet demand, supply chain capacity, timely availability of parts and components, raw materials, critical manufacturing equipment and qualified employees, our ability to produce systems to meet demand, the number and timing of systems ordered, shipped and recognized in revenue, risks relating to fluctuations in net bookings and our ability to convert bookings into sales, the risk of order cancellation, delays or push outs and restrictions on shipments of ordered systems under export controls, risks relating to the trade environment, import/export and national security regulations and orders and their impact on us, including the impact of changes in export regulations and the impact of such regulations on our ability to obtain necessary licenses and to sell our systems and provide services to certain customers, the impact of the tariff announcements, exchange rate fluctuations, changes in tax rates, available liquidity and free cash flow and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, the number of shares that we repurchase under our share repurchase program, our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation, our ability to meet ESG goals and commitments and execute our ESG strategy, other factors that may impact ASML’s business or financial results, and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F for the year ended December 31, 2024 and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We undertake no obligation to update any forward-looking statements after the date of this report or to conform such statements to actual results or revised expectations, except as required by law.

    Attachments

    The MIL Network –

  • MIL-OSI Asia-Pac: LCQ14: Supporting cinema industry

    Source: Hong Kong Government special administrative region

    LCQ14: Supporting cinema industry 
    Question:
     
    There are views that a number of cinemas in Hong Kong have closed down one after another in recent months and the industry is facing challenges such as rising operational costs and competition from streaming platforms, raising concerns that the wave of cinema closures may continue to spread. On the other hand, as cinemas serve as both an important platform for film exhibition and an important outlet for public consumption, culture and entertainment, the industry’s long-term development is in dire need of government support. In this connection, will the Government inform this Council:
     
    (1) whether it has compiled statistics on the number of cinema closures and new openings in each of the past five years;
     
    (2) whether it has compiled statistics on the following information of the cinemas in each of the 18 districts across the territory at present: (i)‍ ‍the number of cinemas, (ii) ‍the seating capacity, (iii) ‍the number of seats per 1 000 population, (iv) ‍the number of screens, and (v) ‍the average ticket price; and how such figures compare with those from five years ago;
     
    (3) as regards districts with “zero/few cinemas”, whether the Government will, by making reference to past practices, consider including a cinema requirement in the land lease of individual land sale sites, stipulating that the cinema shall not be converted to other uses within the first seven years of operation; whether it has formulated measures to increase cinema supply; if it has, of the details; if not, the reasons for that; and
     
    (4) of the following information on the Cinema Day, which has been sponsored by the Cultural and Creative Industries Development Agency and held since 2023: the annual (i) ‍number of participating cinemas, (ii) ‍number of screenings, (iii) ‍attendance, (iv)‍‍ ‍box-office takings, and (v)‍ ‍amount of government funding; whether it has assessed the effectiveness of the Cinema Day in supporting the development of the cinema industry; whether the authorities have other measures in place to further support the cinema industry?
     
    Reply:
     
    President,
     
    Regarding the questions raised by the Hon Chan Pui-leung, my reply is as follows:
     
    (1) and (2) As at  July 10, 2025, there are 52 cinemas in Hong Kong, representing a decrease of nine cinemas (15 per cent) as compared to 2020 (five years ago). Although the number of cinema closures has increased in recent years, various operators have taken over some of the closed cinemas. The number of cinemas opened and closed, and the average ticket price over the past five years are set out in Annex 1.
     
    Currently, there are cinemas in all the 18 districts except for Wong Tai Sin. The cinema closed earlier in Wong Tai Sin has been taken over by a new operator, and will be reopened in mid-July. A comparison of the number of cinemas, screens, seats and seats per 1 000 population across all districts in Hong Kong in 2020 and 2025 is set out in Annex 2.
     
    (3) Over the past two years, cinema industry has been encountering various challenges, including the rise of streaming platforms, downturn in global film industry, lack of blockbusters with strong appeal, high cinema rental and operational costs, and changes in audience viewing and consumption habits. In addition, both the Hong Kong and global film markets are still adapting to various post-pandemic changes and challenges. Despite the closure of some cinemas over the past two years, we have also seen new cinemas opening and seizing business opportunities. The Government will continue to closely monitor the difficulties and needs of the industry and maintain close communication with the trade. In fact, Cinema Day and 1st October Movie Fiesta: Half-Price Spectacular 2024 (1st October Movie Fiesta) launched by the Government aimed at supporting the cinema industry. Moreover, the Government has provided a range of support of different nature and levels, including nurturing talents and implementing multiple film production support schemes, which will also bring benefits to the cinema industry. However, the provision and operation of cinemas should be market-driven. At present, the Government has no plan to incorporate requirement for provision of cinema in the land sale condition of government land leases.
     
    (4) Cinema Day and 1st October Movie Fiesta have brought confidence and impetus into Hong Kong’s film market. By offering concessionary ticket prices, both initiatives promote film culture to the public, allowing families and friends to enjoy movies in cinemas at affordable prices, thereby cultivating the habit of cinema-going and building audience, which in turn benefits the film industry in the long term. Both the Government and the Hong Kong Theatres Association consider the events effective in bringing new audience to cinemas, with attendance figures significantly increased compared to the same period in previous years and breaking records in attendance and box office receipts. In addition, medium-to-small-scale and niche films have received more attention during the events. Furthermore, restaurants and shops near cinemas offered discounts at the day of the events, providing additional incentive of watching movies at cinemas and boosting consumption in surrounding shops. Overall speaking, Cinema Day and 1st October Movie Fiesta benefit the cinemas, film industry, businesses, and the general public. The number of participating cinemas, screenings, attendance, box office receipts, and amount of government funding of both initiatives are set out in Annex 3.
     
    Both Cinema Day and 1st October Movie Fiesta have received positive feedbacks from the public and the film market. The Government will continue to support Hong Kong film industry by enhancing both quality and quantity of Hong Kong films through the Cultural and Creative Industries Development Agency and the Film Development Fund, with a view to bringing confidence and impetus into the market through quality Hong Kong films. Meanwhile, the Government will also continue to fund projects and activities that build local audience, to cultivate the habit of cinema-going and support the steady development of Hong Kong films and cinema industries.
    Issued at HKT 12:25

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ11: Facilitating re-domiciliation of non-Hong Kong-registered enterprises to Hong Kong

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Edmund Wong and a written reply by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, in the Legislative Council today (July 16):
     
    Question:
     
         The Companies (Amendment) (No. 2) Bill 2024, which was passed on May 14 this year, seeks to introduce a company re-domiciliation regime (the Regime) that enables overseas-registered enterprises to transfer their domicile to Hong Kong without having to undergo winding-up procedures in their original domicile while preserving their legal identities. The Amendment Ordinance took effect on May 23 this year, and the Regime opened for applications on the same day. In this connection, will the Government inform this Council:
     
    (1) of the number of enquiries and applications received by the authorities from overseas enterprises regarding the Regime between May 23 and June 30 this year; the following information on such overseas enterprises applying for re-domiciliation to Hong Kong: (i) nature of business, (ii) company assets and scale, and (iii) original domicile;
     
    (2) whether it has estimated the average processing time from receipt of an application for re-domiciliation from an overseas enterprise to formal approval of the enterprise to establish a presence in Hong Kong (i.e. the successful transfer of its domicile to Hong Kong);
     
    (3) whether any overseas enterprises have successfully established a presence in Hong Kong through the Regime to date; if so, of the number of such enterprises, the nature of their business, their company assets and scale, as well as their original domicile; and
     
    (4) whether it will formulate a promotional plan to promote the Regime through Invest Hong Kong and overseas economic and trade offices to attract more overseas enterprises to apply for re-domiciliation to Hong Kong; if so, of the details of the plan (including the resources involved); if not, the reasons for that?
     
    Reply:
     
    President,
     
         The company re-domiciliation regime commenced on May 23, 2025. A company incorporated outside Hong Kong may apply to the Companies Registry (CR) for re-domiciliation to Hong Kong. The regime reduces the need to go through complicated and costly judicial procedures, and enables a re-domiciled company to maintain its legal identity as a body corporate, thereby ensuring business continuity. An applicant for company re-domiciliation is required to fulfil requirements concerning company background, integrity, member and creditor protection, solvency, etc.
     
         My consolidated reply to the four parts of the question is as follows:
     
         After the implementation of the re-domiciliation regime, two international insurance groups immediately announced their plans to re-domicile to Hong Kong, which is the best testament to the regime’s effectiveness in enhancing companies’ operational efficiency. As at July 11, 2025, the CR received 265 enquiries relating to re-domiciliation. The total number of visits and downloads at the thematic section of the CR’s website exceeded 22 000 and 42 000 respectively, reflecting the positive market response to the new company re-domiciliation regime in Hong Kong. As it takes time for companies planning to re-domicile to Hong Kong to prepare the application documents, and to fulfil the requirements of their place of incorporation and other relevant jurisdictions for the proposed re-domiciliation, the CR has not yet received any formal application for re-domiciliation to Hong Kong from non-Hong Kong enterprises. At the same time, some financial institutions and enterprises have contacted the Financial Services and the Treasury Bureau (FSTB) and expressed that they are preparing to apply for re-domiciliation to Hong Kong. According to the enquiries received by the CR, most of the companies interested in re-domiciliation are from offshore economies such as Bermuda, the Cayman Islands and the British Virgin Islands.
     
         The FSTB, the CR and financial regulators will actively provide appropriate support to applicants to assist with their re-domiciliation. Under normal circumstances, the CR will complete the approval process within two weeks after an applicant has submitted all the required documents and information. On the day of issuance of a certificate of re-domiciliation, the applicant becomes a re-domiciled company and is regarded as a Hong Kong-incorporated company from the same date. The re-domiciled company is then required to complete the deregistration procedures at its place of incorporation within 120 days. The re-domiciled company may make an application to the CR to extend the 120-day period subject to any conditions the Registrar of Companies considers appropriate.
     
         The CR has set up a thematic section on its website, containing the Guide on Company Re-domiciliation, application form and frequently asked questions. The FSTB, in conjunction with the CR and the Inland Revenue Department, has proactively reached out to professional organisations and chambers of commerce, and organised briefings to introduce the content, application details and taxation arrangements of the company re-domiciliation regime. We will continue to work with Invest Hong Kong, the Economic and Trade Offices and the Hong Kong Exchanges and Clearing Limited to conduct external publicity and promotion with a view to attracting major Hong Kong-listed companies and other companies registered outside Hong Kong to make good use of the company re-domiciliation regime, and to maximising the regime’s benefits of attracting more companies, capital and talents to Hong Kong, thereby contributing to the development of the local economy. The publicity work is currently undertaken by the FSTB and the relevant departments respectively with their existing staff establishment.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: ICAC to complement national anti-graft policy and scale new heights following fruitful golden jubilee year

    Source: Hong Kong Government special administrative region

    The following press release is issued on behalf of the Independent Commission Against Corruption:

    Following a fruitful year that marked its golden jubilee, the Independent Commission Against Corruption (ICAC) is set to complement the country’s development and anti-graft policy, continue to combat corruption at full throttle and uphold Hong Kong’s integrity and rule of law to achieve greater success in the next 50 years, according to the 2024 ICAC Annual Report issued today (July 16).

    MIL OSI Asia Pacific News –

  • US launches probe into Brazil’s trade practices, digital payment services

    Source: Government of India

    Source: Government of India (4)

    U.S. Trade Representative Jamieson Greer said on Tuesday he had launched an investigation into Brazil’s “unfair” trading practices, a week after President Donald Trump threatened a 50% tariff on imports from Latin America’s largest economy.

    Trump’s trade war, launched since starting his second term in January, sets tariffs on nearly all U.S. trading partners, aiming to reorder the global economy and end decades of what he calls discrimination against the United States.

    The USTR investigation, announced last week by Trump, will decide if Brazil’s treatment of digital trade and preferential tariffs, among others, is “unreasonable or discriminatory and burdens or restrict” U.S. commerce, Greer said.

    “At President Trump’s direction, I am launching a Section 301 investigation into Brazil’s attacks,” he added in a statement.

    Among victims of such attacks he cited U.S. social media and other companies, as well as workers, farmers, and technology innovators he described as harmed by Brazil’s “unfair trading practices”.

    Following extensive consultations, Greer added, “I have determined that Brazil’s tariff and non-tariff barriers merit a thorough investigation, and potentially, responsive action.”

    Trump justified his 50% tariff from August 1, well above the rate of 10% initially proposed, with a demand for an end to the trial of former President Jair Bolsonaro for allegedly plotting a coup.

    The high tariff for Brazil surprised many trade experts since its U.S. goods imports exceed its exports, and because Trump linked the rate so clearly to Bolsonaro’s trial.

    Brazil offered no immediate reaction to news of the U.S. investigation. On Monday, Vice President Geraldo Alckmin said it had yet to receive a response from Washington to an offer it made in trade talks two months ago.

    During his first term, Trump used Section 301 of the Trade Act of 1974 to justify a spate of tariffs against China. It was also used to investigate other countries for digital services taxes on U.S. tech firms.

    In a statement, USTR said Brazil disadvantaged U.S. firms by setting lower tariffs on exports of other trading partners and accused it of failing to battle corruption.

    It added that Brazil also charged substantially higher tariffs on U.S. ethanol exports, and “appears to be failing” to enforce laws against illegal deforestation, which it said harmed the competitiveness of U.S. timber producers.

    (Reuters)