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Category: Asia Pacific

  • India’s gold demand to hit 5-year low as record prices dent jewellery sales, WGC says

    Source: Government of India

    Source: Government of India (4)

    India’s gold consumption in 2025 is set to fall to a five-year low, as record-high prices are denting jewellery purchases, overshadowing a slight boost in investment demand, the World Gold Council said on Thursday.

    Gold demand in the world’s second-biggest consumer of the precious metal could stand between 600 metric tons and 700 metric tons in 2025, the lowest since 2020, and down from last year’s 802.8 tons, Sachin Jain, CEO of WGC’s Indian operations, told Reuters.

    Demand could reach 700 tons if prices stabilise, but a 10%–15% price rise driven by geopolitical factors may pull it down to the lower end of the range, he said.

    Local gold prices MAUc1, which hit a record high of 101,078 rupees per 10 grams in June, have risen 28% so far in 2025, after a 21% gain in 2024.

    India’s gold consumption in the April-to-June quarter fell 10% from a year ago to 134.9 tons, as jewellery demand fell 17% while investment demand rose 7% in the quarter, the WGC said.

    Demand in the September quarter is expected to be lower than last year’s 248.3 tons, when New Delhi’s move to reduce import duties boosted purchases, Jain said.

    The precious metal has been outperforming other asset classes, drawing investors who favour both physical gold and gold exchange traded funds, he said.

    “Gold ETFs in India are at a very important cusp for growth, and as India becomes more digitised, they are gaining popularity and prominence,” he said.

    Gold ETFs in India saw inflows surge ten-fold month-on-month to 20.81 billion rupees ($237.5 million) in June, hitting a five-month high, data from the Association of Mutual Funds in India showed earlier this month.

    (Reuters)

  • PM Modi, UAE President discuss bilateral ties, review progress across sectors in telephonic conversation

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan on Wednesday discussed ways to strengthen the Comprehensive Strategic Partnership between the two countries.

    In a telephonic conversation, the two leaders reviewed the progress made in bilateral cooperation and discussed ways to further deepen engagement across key sectors. They underscored the growing collaboration in areas such as trade, investment, energy, digital infrastructure, and people-to-people ties.

    Prime Minister Modi and President Sheikh Mohamed also expressed satisfaction with the trajectory of the relationship and agreed to continue working closely to expand cooperation for the mutual benefit of both nations.

    During the call, Sheikh Mohamed congratulated PM Modi on becoming the second longest-serving Prime Minister in India’s history and conveyed his best wishes for continued success in his leadership.

    The Prime Minister thanked the UAE President for his warm wishes and the affection expressed for the people of India.

    India and the UAE have significantly expanded their bilateral relationship in recent years, with the Comprehensive Strategic Partnership, established in 2017, serving as a key framework for cooperation across multiple sectors.

  • Death toll rises in China’s north following extreme rain, state media says

    Source: Government of India

    Source: Government of India (4)

    Extreme weather killed at least eight people in the city of Chengde just outside the Chinese capital Beijing, with 18 still unaccounted for, as heavy rainfall pounded the hilly region over the past week.

    The deaths occurred in villages within the Xinglong area of Chengde in Hebei province, state-run Xinhua reported late on Wednesday citing local authorities, without specifying when or how the people died.

    Work is still underway to locate those missing, Xinhua said.

    Set against mountainous terrain, Chengde was known as a resort town for Qing dynasty emperors to escape Beijing’s heat in the summer centuries ago.

    Extreme rains that began last Wednesday have lashed Beijing and surrounding regions, pouring a year’s worth of rain in less than a week in some areas and killing at least 30 in the outskirts of the capital. Twenty eight of those deaths occurred in hilly Miyun district.

    The deaths in Chengde occurred in villages which border Miyun and sit about 25 km (16 miles) away from the Miyun reservoir, the largest in China’s north.

    The reservoir saw record-breaking inflow and outflow of water, and overall water level and capacity during this round of rainfall which devastated nearby towns.

    At its peak on Sunday, up to 6,550 cubic metres of water – about 2.5 Olympic-sized pools – flooded into the reservoir every second, pushing its capacity to a record high of 3.63 billion cubic metres since it was built in 1960.

    The villages where eight have died sit on higher elevations in a valley, upstream of the Miyun reservoir.

    In another village to the north of the reservoir, a landslide on Monday killed eight people while four remained missing.

    Extreme rainfall and severe flooding, which meteorologists link to climate change, increasingly pose major challenges for Chinese policymakers, with officials partially attributing a slowdown in factory activities to heavy rains and flooding.

    (Reuters)

  • London’s Heathrow hit by more flight cancellations after air traffic failure

    Source: Government of India

    Source: Government of India (4)

    At least 16 flights to and from London’s Heathrow Airport were cancelled on Thursday, a day after technical problems with Britain’s air traffic control system caused widespread disruption across the country’s airports.

    National Air Traffic Services (NATS), which provides air traffic control services for planes flying in UK airspace and the eastern part of the North Atlantic, said on Wednesday its systems were fully operational with capacity returning to normal after it switched to a back-up system.

    The second outage in as many years at NATS also affected Gatwick Airport near London, Edinburgh Airport in Scotland and other locations, resulting in 122 cancellations as of 1830 GMT on Wednesday, according to aviation analytics firm Cirium.

    Heathrow’s website showed that at least 16 flights, including departures to Brussels and Toronto and arrivals from New York and Berlin, had been cancelled on Thursday.

    Heathrow, Britain’s largest and Europe’s busiest airport, did not immediately respond to a Reuters request for comment on the latest cancellations.

    Ryanair Chief Operating Officer Neal McMahon called on NATS chief executive Martin Rolfe to resign, saying no lessons had been learnt since the August 2023 disruption caused by a malfunctioning in the automatic processing of flight plans.

    NATS, which on Wednesday apologised to those affected by the failure, did not immediately respond to a Reuters request for a response to McMahon’s comments.

    Heathrow was also hit by a fire at a power sub-station in March which stranded thousands of passengers.

    (Reuters)

  • MIL-OSI China: ‘The Yellow River’ dance epic shines at Xinjiang Intl Dance Festival

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

    Shanxi Song and Dance Theatre performs “The Yellow River” at the Urumqi Peking Opera House, July 29, 2025. [Photo by Ma Siyuan/China.org.cn]

    Dance epic “The Yellow River,” directed by renowned Chinese artist Zhang Jigang and created by Shanxi Song and Dance Theatre, was staged at the 7th China Xinjiang International Dance Festival on July 29-30. Marking the 80th anniversary of the victory in the Chinese People’s War of Resistance Against Japanese Aggression, the work utilizes the Yellow River as its central image, interpreting the unyielding Chinese national spirit through a unique artistic language.

    “The Yellow River” unfolds the spiritual scroll of the Chinese nation in three acts: The first act reproduces the dawn of civilization with primitive and unrestrained dance moves; the second act focuses on the suffering and struggles during the war against Japanese aggression; and the third act outlines the spirit of forging-ahead in the new era with red silk ribbon dancing.

    Director Zhang Jigang and performers of “The Yellow River” on stage at Urumqi Peking Opera House, July 29, 2025. [Photo by Ma Siyuan/China.org.cn]

    Director Zhang Jigang emphasized that through chapters such as “The Indignation of the Yellow River” and “Defend the Yellow River,” the work condenses memories of the war into a spiritual declaration that “the Chinese nation cannot be humiliated.”

    As a dance epic, “The Yellow River” breaks the boundaries of traditional dance with its subversive stage language. The performers crawl in mud, fight in water currents and perform difficult lifts on a suspended cloth — these unique movements becoming carriers for interpreting the spirit of the Yellow River.

    Zhang also explained that dancing on the cloth is a metaphor for the resilience of the Chinese nation, and was designed to let the audience feel the weight of history while evoking a sense of awe.

    The fusion of music and dance further highlighted the epic temperament. The passion of the piano concerto interwove with the profoundness of the symphony, forming a perfect dialogue between the “musical” and the “dancing” Yellow River.

    Yang Qian, the lead actress who plays the personification of the Yellow River, mentioned that the biggest difference between a dance epic and a traditional dance drama lies in “striking the heart with a five- or six-minute chapter.”

    Talking about her role, Yang said, “The Yellow River is not a specific river, but a microcosm of thousands of Chinese mothers — having the tenderness of water and the tenacity of the loess land.” In the chapter “The Lullaby of the Yellow River,” she interpreted the river’s nurturing power as the cradle of Chinese civilization with the body language of “taking the sky as a quilt and the earth as a bed.”

    As a hub on the ancient Silk Road, Xinjiang has always been a fertile ground for the integration of diverse cultures. As Zhang explained, “The simple beauty of Xinjiang forms a wonderful echo with the profound civilization carried by the Yellow River.” At the 7th China Xinjiang International Dance Festival, “The Yellow River” and the dance arts of all ethnic groups in Xinjiang shone together, jointly interpreting the diversity and unity of Chinese culture.

    Zhang has a deep affection for Xinjiang, recalling how he felt “a peaceful soul as pure as water” when visiting the region’s Sayram Lake. In the dance epic, the concept of simplifying plots, intensifying emotions, downplaying regional traits and enhancing international appeal has elevated the Yellow River from a mere river to a symbol of the world’s great river civilizations.

    By staging the work in Urumqi, the performance served as both a review of the national spirit of the War of Resistance Against Japanese Aggression 80 years ago and a tribute to the present-day cultural integration.

    MIL OSI China News –

  • MIL-OSI China: Beijing invites overseas talent to explore opportunities

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

    The summer session of the 14th Beijing Tour for Overseas Talents, a crucial channel for overseas talent to connect with Beijing and develop in the city, commenced on Tuesday at HICOOL industrial park in Beijing’s Shunyi district.

    As a platform of international talent exchange and cooperation, the tour brought nearly 30 representatives of student associations and international students from 16 prestigious universities — including Yale University, Columbia University, New York University, and the University of Milan — to engage in networking and matchmaking sessions with leading enterprises and innovation parks in the Chinese capital.

    At the opening ceremony, the Investment Promotion Service Center of Shunyi District presented the region’s development environment, highlighting its unique advantages in industrial clusters and business-friendly policies. A service station for overseas student associations was also established to provide comprehensive support for international students who intend to start their careers in Beijing.

    During the tour, overseas talent will also visit selected districts in Beijing and the Xiong’an New Area to gain firsthand insight into the city’s innovation and entrepreneurship environment, as well as the latest development in Xiong’an.

    The “Hong Kong Talents Beijing Tour” was held concurrently, with 32 outstanding individuals from seven renowned universities — including the University of Hong Kong, the Hong Kong University of Science and Technology, and the Chinese University of Hong Kong — invited to visit and engage in exchange activities in Beijing.

    MIL OSI China News –

  • MIL-OSI China: Myanmar announces formation of new union gov’t

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

    Myanmar’s National Defense and Security Council (NDSC) on Thursday formed a new union government and State Security and Peace Commission, the state-owned Myanmar Radio and Television (MRTV) reported.

    The union government is led by U Nyo Saw as prime minister, and the State Security and Peace Commission is chaired by Senior General Min Aung Hlaing, the report said.

    The NDSC also decided to annul the order transferring the sovereign power to the Commander-in-Chief of Defence Services, according to the report.

    Zaw Min Tun, a spokesperson of Myanmar’s State Administration Council, said on Thursday the NDSC had decided to end the state of emergency to hold general elections.

    In February 2021, Myanmar’s then-Acting President U Myint Swe declared a one-year state of emergency and transferred sovereign power to the Commander-in-Chief of Defence Services. The office of the Commander-in-Chief of Defence Services subsequently formed the State Administration Council, with Min Aung Hlaing as its chairman. The NDSC has made multiple six-month extensions until July 31 this year.

    MIL OSI China News –

  • MIL-OSI China: Cambodia urges Thailand to release captured Cambodian soldiers

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

    Cambodia on Thursday called on Thailand to release 20 Cambodian soldiers that it captured after a ceasefire took effect, said a Cambodian defense spokesperson.

    Speaking in a press briefing, Cambodian Defense Ministry’s Undersecretary of State and Spokesperson, Lieutenant General Maly Socheata, said the Thai soldiers took 21 Cambodian soldiers under control on July 29 at 7:30 a.m. local time.

    “So far, we have received one dead soldier,” she said. “We call on Thai side to send all 20 military personnel back to Cambodia as soon as possible.”

    Socheata said Cambodia, with the mediation from Malaysia, the current chair of ASEAN, is negotiating with Thailand on this issue.

    The Thai army said on Thursday that the detained Cambodian soldiers would be repatriated after legal procedure.

    The Thai army said the Cambodian soldiers are being handled in accordance with international law and that they will be sent back once legal procedures are completed.

    On July 24, armed clashes erupted between Cambodian and Thai soldiers in border areas. The two countries agreed on an immediate and unconditional ceasefire on Monday afternoon, taking effect at midnight on Monday.

    MIL OSI China News –

  • MIL-OSI New Zealand: New flavour for Herb’s career at EIT Tairāwhiti | EIT Hawke’s Bay and Tairāwhiti

    Source: Eastern Institute of Technology

    6 hours ago

    What started as a ride to campus for a friend has led to a new career path for Herb Kepa (Ngāti Ranginui, Ngāti Pāoa), who recently completed the New Zealand Certificate in Cookery (Level 4) at EIT Tairāwhiti.

    The 56-year-old spent more than three decades working in landscaping and stone masonry before a serious health scare in 2019 forced him to step away from the physical work.

    Herb Kepa at EIT Tairāwhiti, where his passion for cooking turned into a new career path.

    He spent months in hospital with a torn aorta and has since experienced a series of mini strokes, most of them occurring around the end of the year.

    No longer able to return to the work he had done most of his life, Herb was unsure what would come next.

    “A friend of mine wanted a lift to come in to check out this cooking course. I sat in on it, and then the tutor asked if I wanted to join up too. I said, I’ve got nothing else to do, so why not give it a go. I’ve been there ever since.”

    That decision led to four years of study in hospitality. Herb began with the New Zealand Certificate in Food and Beverage Service (Level 3), followed by a plant-based cookery training scheme, the New Zealand Certificate in Cookery (Level 3), and then the two-year New Zealand Certificate in Cookery (Level 4), which he completed last year.

    While studying, Herb worked part-time at The Vines Restaurant in Makaraka. He continues to work there, preparing entrees, desserts and breads.

    “I’ve always loved cooking, but I never thought I’d be a chef,” he said. “I love my breads. It’s something I enjoy.”

    Herb said his background in landscaping helped with the hands-on nature of kitchen work, and that returning to study in his 50s came with some challenges but was well worth it.

    “I’ve never been one to study. I’m better with my hands. But this is the first time I’ve actually studied properly.”

    He said the tutors were “really good”, especially Maaki Gooding, Karen Johnston and Tony Davis who “helped a lot”.

    His advice to others thinking about making a change later in life and studying at EIT is simple.

    “If you like food, give it a go. It’s definitely worth it. You’re never too old.”

    Assistant Head of School for Tourism and Hospitality at EIT, Nikki Lloyd said the level 4 cookery programme allows students to study while they work, attending class one day a week while working in the industry.

    “The ability to learn and earn is a win-win for both student and employer. What students learn in class is put into practice in the workplace, giving them the confidence that is critical to their success. Employers often mention how students grow into key roles in the workplace as a result of their training.”

    Chef tutor Tony Davis said Herb’s curiosity with food regularly showed results above expectation.

    “The enjoyment he gets from cooking is apparent both in the classroom and the workplace. This combined with his steady work ethic has seen him graduate as one of our top students and now a respected, qualified chef in the workplace.”

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Govt to resume land for rail link

    Source: Hong Kong Information Services

    The Lands Department today posted land resumption notices for private lots required for the construction of the Northern Link (NOL) Main Line, in accordance with the Railways Ordinance.

    The land will revert to the Government on November 1.

    The NOL Main Line project is a 10.7-kilometre underground railway connecting Kam Sheung Road Station, on the Tuen Ma Line, and Kwu Tung Station, a stop on the East Rail Line that is under construction. There will be three intermediate stations at Au Tau, Ngau Tam Mei and San Tin.

    In all, 686 private lots, comprising about 26 hectares, and an underground batch of 252 private lots, comprising about 8.6 hectares, will be resumed. The Government will release ex-gratia land compensation to relevant land owners and handle statutory claims for compensation after the land reversion.

    The Lands Department will post notices in relevant areas according to applicable procedures about three months before departure deadlines for affected households and business undertakings.

    It is estimated the affected households and business undertakings will have to move out from early 2026 at the earliest. The Government will liaise with land owners and affected parties, and handle all compensation and rehousing matters proficiently. 

    MIL OSI Asia Pacific News –

  • MIL-OSI Submissions: How Rupert Murdoch helped to build brand Trump – podcast

    Source: The Conversation – UK – By Gemma Ware, Host, The Conversation Weekly Podcast, The Conversation

    Donald Trump’s lawyers are pushing to get Rupert Murdoch deposed, and quickly.

    The US president is suing the billionaire media owner, alongside the Wall Street Journal and Dow Jones and others, for libel after it published an article alleging that Trump once wrote a “bawdy” birthday letter to the convicted sex offender, the late Jeffrey Epstein.

    Trump is seeking US$10 billion in damages. In a court filing in late July, his lawyers asked the court to order a swift deposition, citing Murdoch’s age at 94.

    Trump and Murdoch have a transactional friendship that goes back decades. Despite past tensions, this rupture is something new in a relationship that has continued to serve both men’s interests.

    In this episode of The Conversation Weekly podcast, professor of journalism Andrew Dodd at the University of Melbourne takes us back to where their relationship began in 1970s New York, to understand how Murdoch helped to build brand Trump.

    Murdoch was already a very successful media magnate in Australia and the UK before he made his move to America. In 1976, after dabbling in two newspapers in Texas, he bought the New York Post.

    “ Murdoch wanted to make it big in the US and to do that he really needed to break into New York,” says Dodd. US television networks were all based in US, he explains, “so by influencing what was going on in Manhattan, he was influencing the entire country’s media.”

    Meanwhile, Trump was a young property developer from Queens. “ He’s wanting to develop and build, and he’s also wanting a profile because the profile will help him along the way,” says Dodd. “But he’s also an egomaniac. He needs publicity for its own sake, and so he’s attracted to the media.” Trump became easy and frequent fodder for the new Page Six gossip column of Murdoch’s New York Post.

    Dodd says that both men saw in each other “opportunities for their own advancement”. For Trump, it was about access to notoriety. For Murdoch, a newcomer and foreigner in New York, he needed to make friends quickly and start establishing relationships. “He’s becoming ingratiated with power in the city, and so they’re all using one another,” he says.

    Listen to the conversation with Andrew Dodd about Trump and Murdoch and the power they now wield over each other, on The Conversation Weekly podcast.

    This episode of The Conversation Weekly was written and produced by Mend Mariwany and Gemma Ware with assistance from Ashlynne McGhee. Mixing and sound design by Eloise Stevens and theme music by Neeta Sarl.

    Newclips in this episode from ITV News, MSNBC and The Independent.

    Listen to The Conversation Weekly via any of the apps listed above, download it directly via our RSS feed or find out how else to listen here. A transcript of this episode is available on Apple Podcasts or Spotify.

    Andrew Dodd does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. How Rupert Murdoch helped to build brand Trump – podcast – https://theconversation.com/how-rupert-murdoch-helped-to-build-brand-trump-podcast-262158

    MIL OSI –

  • At least 60 dead in north China following extreme rain, authorities say

    Source: Government of India

    Source: Government of India (4)

    Extreme weather killed at least 60 people in northern China over the past week, with 31 deaths in an elderly care home in Beijing’s hilly Miyun district in one of the deadliest floods to have hit the Chinese capital in years.

    In Beijing, 44 people were killed and nine were missing as of midday Thursday, deputy mayor of Beijing, Xia Linmao, said at a press conference.

    Heavy rains began a week ago and peaked around Beijing and surrounding provinces on Monday, with Miyun experiencing rainfall of up to 573.5 mm (22.6 inches) – levels local media described as “extremely destructive.” The average annual rainfall in Beijing is around 600 mm.

    In the nearby province of Hebei, 16 people died as a result of the intense rainfall, authorities said.

    At least eight were killed in the city of Chengde just outside Beijing, with 18 unaccounted for.

    The deaths occurred in villages within the Xinglong area of Chengde in Hebei province, state-run Xinhua reported late on Wednesday citing local authorities, without specifying when or how the people died.

    The deaths in Chengde occurred in villages which border Beijing’s Miyun about 25 km (16 miles) from the Miyun reservoir, the largest in China’s north.

    The reservoir saw record-breaking overall water levels and capacity during the rains which devastated nearby towns.

    At its peak on Sunday, up to 6,550 cubic metres of water – about 2.5 Olympic-sized pools’ worth – flooded into the reservoir every second.

    In another Hebei village north of the reservoir, a landslide on Monday killed eight people, with four missing.

    Extreme rainfall and severe flooding, which meteorologists link to climate change, pose major challenges for Chinese policymakers, with officials partially attributing a slowdown in factory activity to such events.

    (Reuters)

  • Flood threat in Rajasthan’s Dholpur as Chambal river swells; Army called in, Officials’ leave cancelled

    Source: Government of India

    Source: Government of India (4)

    A flood threat looms over rural areas in Rajasthan’s Dholpur district after heavy rainfall in the Hadoti region and nearby areas led to the release of nearly 5 lakh cusecs of water into the Chambal River – from both Kota Barrage and later the Navnera Barrage.

    The Chambal’s water level surged to 141.10 metres by 10 PM on Wednesday, significantly breaching the danger mark of 131.79 metres, according to the Water Resources Department. The old Chambal bridge has submerged due to the rising water, prompting the district administration to request Army assistance. Troops are expected to reach Dholpur today.

    Floodwaters have begun entering villages in the Sarmathura and Rajakheda subdivisions, sharply increasing the risk to life and property. In response, the leave of all government officers and employees has been cancelled to ensure coordinated relief efforts.

    Despite the flooding of the old bridge, traffic on National Highway 44 remains unaffected, as vehicles are being rerouted via the new Chambal bridge.

    Dholpur SP Vikas Sangwan and District Collector Nidhi B.T. are closely monitoring the situation and conducting visits to the affected areas. Army personnel will assist in relief and rescue operations, particularly in flood-prone zones like Rajakheda.

    Meanwhile, Director of the Meteorological Center, Jaipur, Radheshyam Sharma, said that the low-pressure system, a remnant of the Bay of Bengal depression, is expected to weaken from August 2. However, due to the monsoon trough line currently passing through Bikaner and Sikar, heavy rainfall is still likely in parts of Rajasthan on Thursday. A reduction in rainfall activity is anticipated from August 1.

    Earlier on Wednesday, Chief Minister Bhajan Lal Sharma conducted a detailed inspection of rain-affected areas in Jaipur, spending over two-and-a-half hours reviewing the situation.

    He visited B-2 Bypass Road, Sanganer, Sumer Nagar, Surajmal Circle, Muhana Mandi, and Chauradia Petrol Pump, issuing immediate instructions to address waterlogging, damaged roads, potholes, and drainage issues.

    The Chief Minister also inspected the Dravyavati River near B-2 Bypass Road and directed officials to prune overgrown trees and repair damaged ferro drain covers.

    At the Sanganer camp office, he reviewed the status of waterlogged areas across the city. Later, at the Muhana Mandi intersection, he gave instructions for the construction of a traffic circle and urgent road repairs at Maharaja Surajmal Circle and Kesar Nagar intersection.

    (With inputs from IANS)

  • MIL-OSI Russia: Urumqi Airport Records Significant Growth in Passenger and Cargo Traffic in First Half of 2025

    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 31 (Xinhua) — The number of people crossing the Chinese border at the Tianshan International Airport checkpoint in Urumqi, capital of northwest China’s Xinjiang Uygur Autonomous Region, totaled 449,900 in the first half of 2025, up 63.58 percent year-on-year, the Xinjiang Daily newspaper reported, citing data from the airport administration.

    In addition, during the same period, 43 thousand tons of cargo were imported and exported through Tianshan Airport, which is 465 percent more than during the same period last year.

    In the first six months of this year, the checkpoint handled 3,575 inbound and outbound passenger flights, up 51 percent from a year earlier. The airport currently operates 32 international passenger routes, connecting Urumqi with 27 cities in 19 countries.

    From January to June this year, airport customs officers processed 2,549 incoming and outgoing cargo flights, up 620 percent year-on-year. The total value of imported and exported goods passed through the airport checkpoint increased by 221.4 percent year-on-year.

    Today, 24 international cargo routes operate at the specified border crossing, covering key hub cities in Europe, as well as Central and Western Asia.

    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: Chinese border town becomes key hub for importing Russian Kamchatka crabs

    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 31 (Xinhua) — Did you know that out of five Russian Kamchatka crabs eaten by Chinese, four came from the border town of Hunchun, (Yanbian Korean Autonomous Prefecture, Northeast China’s Jilin Province), which is not actually a coastal town?

    At the King Crab Exhibition Hall located in the Northeast Asia Cross-Border E-Commerce Industrial Park in Hunchun, hundreds of blue and red king crabs from the Bering Strait live comfortably in a huge pool.

    The cool air in the exhibition hall mixes with the faint salty taste of sea water. It turns out that the pool is filled with sea water from the “native land” of king crabs, and its temperature is maintained at about 2 degrees Celsius.

    “The king crabs, which cost more than 320 yuan (US$44.5) per kilogram, were transported to China using original transport and water environment to ensure their longer life,” said Cui Ling, an employee of Hunchun Shengjin International Trade Co., Ltd., adding that July to August is the busiest time of the year. On average, up to 150 king crabs are sold per day through online and offline sales. These king crabs are shipped from here and delivered across the country within two weeks. In many regions, customers who order this seafood delicacy in the morning receive it the next day.

    Why hasn’t the coastal city of Hunchun become the key hub for importing Russian Kamchatka crabs?

    Previously, Kamchatka crabs imported from Russia to China had to be transported through the Republic of Korea and Japan, which led to higher costs and a deterioration in the quality of king crabs.

    After Hunchun Port was approved as a specialized port for importing chilled seafood and edible aquatic animals, this “golden corridor” for importing king crabs into China was opened. In addition, the Kamchatka-Zarubino-Hunchun route made the transportation of aquatic products between China and Russia more stable and smooth.

    To ensure the freshness of imported seafood, Hunchun Customs has opened a “green channel” to provide inspection and release services by appointment all year round and around the clock, speeding up customs clearance.

    “In 2024, about 1.5 million pieces of king crab worth 3.31 billion yuan were imported into China through Hunchun Port, accounting for more than 80 percent of the country’s total market,” said Sun Jufeng, head of the Hunchun Port Management Service Center.

    According to him, in recent years the efficiency of customs clearance has been constantly improving. If the driver registers in advance, the passage through the checkpoint can be completed in a matter of minutes.

    Let us recall that last year, construction of a new terminal began in Hunchun on the territory of the checkpoint in order to meet the increasing volumes of cargo flow between China and Russia. The new terminal with a design capacity of 2 million tons will be put into operation during this year, and then the volume of transportation through the Hunchun checkpoint will increase more than fourfold.

    In recent years, Chinese consumers’ interest in Russian Kamchatka crabs has grown rapidly. According to the General Administration of Customs of China, the total value of China’s imports of live, fresh and frozen crabs from Russia exceeded US$1.14 billion last year, up 16.7 percent from the previous year. -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: The number of visitors to the Chinese pavilion at Expo 2025 in Osaka has exceeded 1 million people.

    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

    TOKYO, July 31 (Xinhua) — A welcoming ceremony for the one millionth visitor, a Japanese family, was held at the China Pavilion at the World Expo 2025 Osaka on Wednesday.

    Upon entering the pavilion, Teruwa Asakawa and his family were greeted by the words “Welcome to the millionth visitor to the China Pavilion” displayed on a large screen. The family was presented with a panda doll and other souvenirs.

    The Asakawas said they were honored to be the millionth visitor. They praised the beautiful appearance of the pavilion and the variety of exhibits, saying that it “allowed us to deeply feel China’s rich historical and cultural heritage.”

    Zhang Shujing, director of the China Pavilion, told Xinhua that since the opening of Expo 2025, the China Pavilion has consistently been one of the most popular. Welcoming the millionth visitor is an important moment worth celebrating, he said.

    The exhibition runs from April 13 to October 13. The Chinese pavilion occupies an area of about 3.5 thousand square meters and is one of the largest foreign pavilions built by China itself. –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-Evening Report: Labor well-placed to win three Bass seats in Tasmanian election, giving left a total of 20 of 35 MPs

    Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne

    Labor is well-placed to win three seats in the electorate of Bass at the Tasmanian election, although its party totals imply it deserves only two. This would give left-leaning MPs a total of 20 of 35 seats. Interstate, New South Wales Labor has surged to a large lead in a Resolve poll.

    The postal receipt deadline for the July 19 Tasmanian state election passed at 10am Tuesday. Final statewide vote shares
    were 39.9% Liberals (up 3.2% since the March 2024 election), 25.9% Labor (down 3.2%), 14.4% Greens (up 0.5%), 2.9% Shooters, Fishers and Farmers (up 0.6%), 1.6% Nationals (new) and 15.3% independents (up 5.7%).

    Tasmania uses the proportional Hare-Clark system to elect its lower house. There are five electorates corresponding to Tasmania’s five federal seats, and each electorate returns seven members, for a total of 35 lower house MPs.

    Under this system, a quota for election is one-eighth of the vote or 12.5%, but half of this (6.2%) is usually enough to give a reasonable chance of election. There’s no above the line section like for the federal Senate. Instead, people vote for candidates not parties, with at least seven preferences required for a formal vote.

    Robson rotation means that candidates for each party are randomised across ballot papers for that electorate, so that on some ballot papers a candidate will appear at the top of their party’s ticket and on others at the bottom.

    This means parties can’t control the ordering of their candidates. Independents can be listed in single-candidate columns.

    Leakage occurs when party candidates with more than one quota are elected and their surplus distributed, or when minor candidates are excluded and their preferences distributed. In the federal Senate, the large majority of votes are cast above the line, and these votes cannot leak from the party that received a first preference vote.

    The consequence of leakage is that parties will lose votes from their totals during the distribution of preferences when their own candidates are elected or excluded. Single-candidate tickets can’t lose votes, and will only gain as other candidates are excluded.

    Unlike other states and federally, the Tasmanian distribution of preferences is done manually. Before the distributions, analyst Kevin Bonham had called 14 of the 35 seats for the Liberals, ten for Labor, five for the Greens and four for left-leaning independents, leaving two undecided (the final seats in Bass and Lyons).

    Labor well-placed to win three seats in Bass

    Final primary votes in Bass gave the Liberals 3.34 quotas, Labor 2.20, the Greens 1.32, the Shooters 0.32 and independent George Razay 0.27. The Shooters and Razay had single-candidate tickets that can’t leak votes.

    After three days of preference distributions, vote shares in Bass are 3.30 quotas for the Liberals, 2.25 for Labor, 1.31 for the Greens, 0.40 for the Shooters and 0.37 for Razay.

    On quota fractions, the final seat in Bass looks as if it should go to the Shooters or Razay. However, with one Labor candidate already elected, the two leading Labor candidates (Jess Greene and Geoff Lyons) each have about 0.37 quotas with two Labor candidates still to be excluded.

    If the remaining Labor votes divide roughly evenly between Greene and Lyons, they would each have about 0.62 quotas. Greens preferences will then favour Labor whether their final opponent is the Shooters or the Liberals. So Labor is well-placed to win three seats in Bass despite their party total implying they only deserve two.

    If Labor wins the final Bass seat, Labor, the Greens and left-leaning independents would have a total of 20 of the 35 seats, making any Labor attempt to form government easier.

    In Lyons, final primary votes gave the Liberals 3.36 quotas, Labor 2.27, the Greens 1.08, the Shooters 0.53 and the Nationals 0.33. The Shooters had a single-candidate ticket.

    The Liberals now have 3.36 quotas, Labor 2.44, the Greens one, the Shooters 0.68 and the Nationals 0.34. Neither Labor nor the Liberals have any chance of pulling off an even split across candidates, so the Shooters will win the final Lyons seat.

    NSW Resolve poll: Labor surges to large lead

    A New South Wales state Resolve poll for The Sydney Morning Herald, conducted July 13–18 from a sample of 1,054, gave Labor 38% of the primary vote (up five since April), the Coalition 32% (down four), the Greens 13% (up two), independents 8% (down six) and others 10% (up four).

    Resolve does not usually give a two-party estimate for its state polls, but The Poll Bludger estimated a Labor lead by 57–43. Despite the strong voting intentions for Labor, Labor incumbent Chris Minns’ lead over Liberal Mark Speakman as preferred premier narrowed from 40–15 to 35–16. This indicates that Labor’s surge is due to the federal election result.

    Resolve polls taken well before an election have overstated the independent vote as they give independent as an option in all seats, when many seats don’t have viable independents. The six-point drop for independents in this poll suggests a different method is now being used.

    By 32–25, respondents expected their personal outlook in the next year to get better rather than worse, but by 25–21 they expected the NSW state outlook to get worse.

    Additional questions from federal Resolve poll

    I previously covered a national Resolve poll for Nine newspapers that gave Labor a 56–44 lead. On reforms, 36% thought the government should take the opportunity from its landslide re-election to undertake reforms, while 32% thought it should restrict itself to policies put forward at the election.

    By 47–20, respondents opposed raising the GST rate even if it would reduce other taxes. By 31–26, they supported reducing or ditching negative gearing concessions. By 36–27, they supported reducing or ditching capital gains tax concessions on properties.

    By 57–18, respondents thought the opposition should work with the government to negotiate changes, rather than just oppose major reforms.

    By 53–18, respondents thought Donald Trump’s election as United States president last November a bad outcome for Australia (68–11 bad in April, after Trump’s “liberation day” tariffs).

    By 46–22, they thought Australia becoming more independent from the US on foreign policy and national security would be good. By 38–26, voters blamed Trump more than Albanese for the lack of a meeting.

    Adrian Beaumont does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Labor well-placed to win three Bass seats in Tasmanian election, giving left a total of 20 of 35 MPs – https://theconversation.com/labor-well-placed-to-win-three-bass-seats-in-tasmanian-election-giving-left-a-total-of-20-of-35-mps-261751

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Espionage cost Australia $12.5 billion in 2023-24, ASIO boss Mike Burgess says

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Espionage cost Australia $12.5 billion in 2023-24, according to a study by ASIO and the Australian Institute of Criminology.

    The figure includes the direct costs of known espionage incidents, including state-sponsored theft of intellectual property, as well as the indirect costs of countering and responding.

    Details of the Cost of Espionage report were released by the head of ASIO, Mike Burgess, in delivering the annual Hawke Lecture on Thursday night. Espionage is defined as “the theft of Australian information by another country that is seeking an advantage over Australia”.

    Burgess said the Institute estimated foreign cyber spies stole nearly $2 billion from Australian companies and businesses in trade secrets and intellectual property in 2023-24.

    In one instance, spies hacked into a major Australian exporters computer network, stealing commercially sensitive information.

    “The theft gave the foreign country a significant advantage in subsequent contract negotiations, costing Australia hundreds of millions of dollars.”

    Burgess pointed to another espionage incident several years ago when an overseas delegation visited a sensitive Australian horticultural facility.

    A delegation member entered a restricted area and photographed a rare, valuable variety of fruit tree. A staff member intervened and deleted the image but it later turned out several of the tree’s branches had been stolen and smuggled out of Australia.

    “Almost certainly, the stolen plant material allowed scientists in the other country to reverse engineer and replicate two decades of Australian research and development.”

    In another instance, an Australian defence contractor invented and sold a world-leading innovation.

    At first sales boomed but then they collapsed, and “customers began flooding the company’s repair centre with faulty products. While the returns looked genuine, closer examination revealed they were cheap and nasty knock offs.

    “An investigation uncovered what happened.

    “One year earlier, a company representative attended a defence industry event overseas and was approached by an enthusiastic local. She insisted on sharing some content via a USB, which was inserted into a company laptop. The USB infected the system with malware allowing hackers to steal the blueprints for the product.

    “Almost certainly, the ‘enthusiastic local’ worked for a foreign intelligence service. The blueprints were given to a state-owned enterprise which mass-produced the knock-offs and deprived the Australian company millions of dollars in lost revenue – the tangible cost of espionage.”

    Burgess said many entities do not realise their secrets have been stolen by espionage.

    He stressed the institute was deliberately conservative, only modelling costs it could confirm and calculate.

    “That means many of the most serious, significant and cascading costs of espionage are not included in the 12.5 billion dollar figure. The potential loss of strategic advantage, sovereign decision-making and warfighting capacity hold immense value, but not a quantifiable dollar value.”

    “The Institute estimates Australia prevented tens of billions of dollars of additional costs by stopping or deterring spying,” Burgess said.

    He said ASIO estimated the espionage threat “will only intensify. It is already more serious and sophisticated than ever before, so our response must also be more serious and sophisticated than ever before.”

    Russian spies booted out in 2022

    Burgess confirmed that in 2022 a number of “undeclared Russian intelligence officers” were removed from Australia.

    “The decision followed a lengthy ASIO investigation that found the Russians recruiting proxies and agents to obtain sensitive information, and employing sophisticated tradecraft to disguise their activities.”

    Last year, two Russian born Australian citizens were charged with an espionage related offence.

    Russian remained a persistent and aggressive espionage threat, Burgess said. “But Russia is by no means the only country we have to deal with.

    “You would be genuinely shocked by the number and names of countries trying to steal our secrets.

    “The obvious candidates are very active – I’ve previously named China, Russia and Iran – but many other countries are also targeting anyone and anything that could give them a strategic or tactical advantage, including sensitive but unclassified information.”

    Burgess said increasingly foreign intelligence services were broadening their collection efforts beyond traditional categories. They were aggressively targeting science and technology, and public and private sector projects, negotiations and investments. This includes Antarctic research, green technology, critical minerals and rare earths extraction and processing.

    ‘A very unhealthy’ interest in AUKUS

    Burgess said foreign intelligence services were “taking a very unhealthy interest in AUKUS and its associated capabilities.”

    “Australia’s defence sector is a top intelligence collection priority for foreign governments seeking to blunt our operational edge, gain insights into our operational readiness and tactics, and better understand our allies’ capabilities.

    “Targets include maritime and aviation-related military capabilities, but also innovations with both commercial and military applications.

    “And with AUKUS, we are not just defending our sovereign capability. We are also defending critical capability shared by and with our partners.”

    He said foreign intelligence services were “proactive, creative and opportunistic” in targeting present and former defence employees.

    There was relentless cyber espionage, in-person targeting and technical collection.

    “In recent years, for example, defence employees travelling overseas have been subjected to covert room searches, been approached at conferences by spies in disguise and given gifts containing surveillance devices.”

    Two dozen major disruptions in the last three years

    Burgess said that ASIO had detected and disrupted 24 major cases of foreign interference in the last three years alone.

    This was more than in the previous eight years combined. They were just the major disruptions – there were many other cases. Among the examples he gave were:

    • spies recruited a security clearance holder who handed over official documents on free trade negotiations

    • foreign companies connected to intelligence services sought to buy access to personal data sets; sought to buy land near sensitive military sites, and sought to collaborate with researchers developing sensitive technologies

    • foreign intelligence services tried to get someone employed as a researcher in a media outlet, aiming to shape reporting and receive early warning of critical stories

    • spies convinced a state bureaucrat to login to a database to obtain details of people considered dissidents by a foreign regime

    • nation state hackers compromised a peak industry body’s network getting sensitive information

    • a foreign intelligence service had multiple agents and their family members apply for Australian government jobs to get access to classified information.

    Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Espionage cost Australia $12.5 billion in 2023-24, ASIO boss Mike Burgess says – https://theconversation.com/espionage-cost-australia-12-5-billion-in-2023-24-asio-boss-mike-burgess-says-262349

    MIL OSI Analysis – EveningReport.nz –

  • Tata Motors announces euro 3.8 billion acquisition of Iveco Group

    Source: Government of India

    Source: Government of India (4)

    Tata Motors Limited has announced plans to acquire Iveco Group N.V., a leading European commercial vehicle and mobility company, through an all-cash voluntary tender offer valued at approximately €3.8 billion.

    The proposed acquisition is subject to regulatory approvals and the successful separation of Iveco’s defence business. The deal aims to create a powerful global player in the commercial vehicle industry, combining complementary capabilities, a broader market presence, and a shared commitment to sustainable mobility.

    Under the terms of the deal, Tata Motors will acquire all issued common shares of Iveco Group—excluding its defence division—at €14.1 per share in cash. Completion of the transaction is conditional upon the separation of the defence business, which is expected to be finalised by March 31, 2026.

    The offer represents a 22–25% premium over Iveco’s average share price in the three months ending July 17, 2025. Factoring in the estimated €5.5–€6.0 per share extraordinary dividend from the defence division’s sale, the premium could increase to 34–41%.

    The merger will combine Tata Motors’ commercial vehicle division with Iveco’s operations, bringing together annual sales of approximately 540,000 units and revenues of €22 billion (INR 2.2 lakh crore). The combined revenue base will be spread across Europe (50%), India (35%), and the Americas (15%).

    “This is a logical next step following the demerger of Tata Motors’ Commercial Vehicle business,” said Tata Motors Chairman Natarajan Chandrasekaran. “It will allow the combined group to compete globally with two strategic home markets in India and Europe.”

    Olof Persson, CEO of Iveco Group, said the partnership with Tata Motors would strengthen industrial capabilities, accelerate innovation in zero-emission transport, and expand the company’s presence in key global markets.

    Tata Motors has secured full financing for the acquisition through a consortium led by Morgan Stanley and MUFG Bank. Clifford Chance, PwC, and Kearney are advising Tata Motors, while Goldman Sachs and law firms De Brauw and PedersoliGattai are advising Iveco Group.

    — ANI

  • Centre constructs 16,207 km of highways, sanctions ₹69,342 crore for railway projects in Northeast

    Source: Government of India

    Source: Government of India (4)

    The Central Government has constructed 16,207 km of National Highways and sanctioned ₹69,342 crore for railway projects to bolster infrastructure and accelerate economic development in the Northeastern Region (NER), the Parliament was informed on Thursday.

    Minister of State for Development of North Eastern Region Sukanta Majumdar told the Rajya Sabha that the Ministry of Railways has approved 12 railway projects – including 8 new lines and 4 doubling projects – spanning a total length of 777 km, either partially or fully within the NER. Of this, 278 km have already been commissioned, and ₹41,676 crore has been expended up to March 2025.

    Under the Pradhan Mantri Gram Sadak Yojana (PMGSY), the government has sanctioned 17,637 road works covering 89,436 km and 2,398 bridges in the Northeast. Out of these, 16,469 road works (80,933 km) and 2,108 bridges have been completed, the Minister added.

    To enhance digital connectivity in remote and rural areas of the Northeast, several initiatives have been undertaken with support from the Digital Bharat Nidhi. As many as 6,355 Gram Panchayats have been made service-ready under the BharatNet project. In addition, 3,297 mobile towers have been commissioned in the region under various government-funded mobile connectivity schemes.

    The Ministry of Civil Aviation, through the UDAN (Ude Desh ka Aam Nagrik) scheme, has significantly improved regional air connectivity by operationalising 90 routes in the Northeast. These routes connect 12 airports and heliports across the region, aiming to make air travel more accessible and affordable for the masses.

    Further, the Ministry of Development of North Eastern Region (MDoNER) is providing financial assistance to all eight Northeastern states for developmental projects related to infrastructure, connectivity, and communication, under five Central Sector Schemes.

    A key initiative in this regard is the Prime Minister’s Development Initiative for North East Region (PM-DevINE). This 100% centrally funded scheme, launched with a total outlay of ₹6,600 crore, is scheduled to run from 2022–23 to 2025–26. The scheme focuses on funding infrastructure projects in line with PM GatiShakti, supporting social development, and promoting livelihood opportunities for youth and women, while addressing developmental gaps in critical sectors.

    The DoNER Ministry is also providing financial support to boost tourism development across the eight Northeastern states through its various Central Sector Schemes.

    (With inputs from IANS)

  • MIL-OSI Asia-Pac: Monetary Statistics for June 2025

    Source: Hong Kong Government special administrative region – 4

    The following is issued on behalf of the Hong Kong Monetary Authority:

    According to statistics published today (July 31) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.9 per cent in June 2025. Among the total, Hong Kong dollar deposits decreased by 0.9 per cent while foreign currency deposits increased by 2.4 per cent in June, mainly reflecting fund flows of corporates. For the first half of 2025 as a whole, total deposits and Hong Kong dollar deposits increased by 7.6 per cent and 7.0 per cent respectively. Renminbi deposits in Hong Kong decreased by 9.6 per cent in June to RMB882.1 billion at the end of June, mainly reflecting fund flows of corporates. The total remittance of renminbi for cross-border trade settlement amounted to RMB1,223.5 billion in June, compared with RMB1,123.6 billion in May. It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.
     
    Total loans and advances increased by 1.1 per cent in June, and increased by 2.5 per cent in the first half of 2025. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 0.9 per cent and 1.8 per cent respectively in June. The Hong Kong dollar loan-to-deposit ratio increased to 72.0 per cent at the end of June from 70.5 per cent at the end of May, as Hong Kong dollar deposits decreased while Hong Kong dollar loans increased.
     
    For the second quarter of 2025 as a whole, loans for use in Hong Kong (including trade finance) increased by 1.6 per cent after increasing by 0.5 per cent in the previous quarter. Analysed by economic use, the increase in loans during the second quarter was mainly led by loans to financial concerns and loans to electricity and gas.
     
    Hong Kong dollar M2 and M3 both decreased by 0.8 per cent in June, while both increased by 8.4 per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 increased by 4.4 per cent in June and increased by 23.7 per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 0.8 per cent in June. Compared to a year earlier, total M2 and total M3 both increased by 11.5 per cent.  
     
    As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Hong Kong Customs detects case involving precious metals and stones dealer carrying out specified cash transaction without Category B registration

    Source: Hong Kong Government special administrative region – 4

    Hong Kong Customs yesterday (July 30) detected a case involving a local watch company that conducted a cash transaction valued at over HK$120,000, while not being a Category B registrant under the Dealers in Precious Metals and Stones Regulatory Regime. A director of the company was arrested.
     
    The investigation is ongoing. The arrested person has been released on bail.
     
    According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), the Regime came into effect on April 1, 2023. Any person who is seeking to carry on a business of dealing in precious metals and stones in Hong Kong and engage in any transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 in Hong Kong is required to register with the Commissioner of Customs and Excise.
     
    In particular, no person other than a Category B registrant may carry out a cash transaction with a total value at or above HK$120,000 in the course of business of dealing in precious metals and stones. Any dealer who is not a Category B registrant, who claims to be a Category B registrant, claims to be authorised to carry out, or carries out any cash transaction(s) with a total value at or above HK$120,000, commits an offence and is liable on conviction to a maximum fine of HK$100,000 and imprisonment for six months.
     
    Customs reminds dealers in precious metals and stones that they must obtain the relevant registration before they can carry out any cash or non-cash transaction(s) with a total value at or above HK$120,000.
     
    For the forms, procedures and guidelines to submit applications for registration, please visit the website for the Dealers in Precious Metals and Stones Registration System (www.drs.customs.gov.hk) or Customs’ webpage (www.customs.gov.hk/en/service-enforcement-information/anti-money-laundering/supervision-of-dealers-in-precious-metals-and-ston/index.html).
     
    Members of the public may report any suspected transactions involving precious metals and stones with a total value at or above HK$120,000 conducted without the required registration to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Residential mortgage loans in negative equity: End of June 2025

    Source: Hong Kong Government special administrative region – 4

    The following is issued on behalf of the Hong Kong Monetary Authority:

    The Hong Kong Monetary Authority announced today (July 31) the results of its survey on residential mortgage loans (RMLs) in negative equity at end-June 2025.
      
    The estimated number of RMLs in negative equity was 37 806 cases at end-June 2025, as compared to 40 741 cases at end-March 2025. These cases were mainly related to bank staff housing loans or RMLs under mortgage insurance programme, which generally have a higher loan-to-value ratio.
     
    The aggregate value of RMLs in negative equity decreased to HK$190.2 billion at end-June 2025 compared with HK$205.9 billion at end-March 2025.
     
    The unsecured portion of these loans decreased to HK$14.3 billion at end-June 2025 from HK$16.4 billion at end-March 2025.
     
    The three-month delinquency ratio of RMLs in negative equity remained at a low level of 0.21 per cent at end-June 2025 as compared to 0.17 per cent at end-March 2025.
     
    It is important to note that the figures derived from this survey relate only to RMLs provided by authorized institutions on the basis of first mortgages and which the reporting institution knows to be in negative equity (i.e. the outstanding loan amount with the reporting institution exceeds the current market value of the mortgaged property). Not included in these figures are RMLs associated with co-financing schemes which would be in negative equity if the second mortgages were taken into account. The extent to which such RMLs are in negative equity is not known because authorized institutions do not maintain records on the outstanding balances of the second mortgages. 
     
    The mortgage portfolios of the surveyed authorized institutions represent about 99 per cent of the industry total. The survey results have been extrapolated to estimate the position of the banking sector as a whole. 

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Residential Mortgage Survey Results for June 2025

    Source: Hong Kong Government special administrative region – 4

    The following is issued on behalf of the Hong Kong Monetary Authority:
     
         The Hong Kong Monetary Authority announced the results of the residential mortgage survey for June 2025.
     
         The number of mortgage applications in June increased month-on-month by 4.8 per cent to 8 581.
     
         Mortgage loans approved in June increased by 3.3 per cent compared with May to HK$27.5 billion. Among these, mortgage loans financing primary market transactions increased by 4.2 per cent to HK$9.3 billion and those financing secondary market transactions increased by 2.4 per cent to HK$15 billion. Mortgage loans for refinancing increased by 5.2 per cent to HK$3.2 billion. 
     
         Mortgage loans drawn down during June increased by 8.9 per cent compared with May to HK$17.7 billion. 
     
         The ratio of new mortgage loans priced with reference to HIBOR increased from 93.4 per cent in May to 94.7 per cent in June. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.9 per cent in May to 1.7 per cent in June.
     
         The outstanding value of mortgage loans increased month-on-month by 0.1 per cent to HK$1,885.6 billion at end-June. 
     
         The mortgage delinquency ratio stood at a low level of 0.13 per cent and the rescheduled loan ratio was unchanged at nearly 0 per cent.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Hospital Authority streamlines clinical research approval to promote medical research development (with photo)

    Source: Hong Kong Government special administrative region – 4

    The following is issued on behalf of the Hospital Authority:

         The Hospital Authority (HA) held a sharing session today (July 31) with representatives from the Greater Bay Area International Clinical Trial Institute (GBAICTI) and Hong Kong’s pharmaceutical industry to outline a series of enhancement measures implemented by the HA for promoting clinical research development, including the recently implemented streamlined approval procedures aiming at attracting more clinical research projects from the industry.
     
         Last year, the HA established a Central Clinical Research and Innovation Office and Cluster Clinical Research Support Offices in each cluster to provide support for frontline healthcare professionals and proactively encourage participation in clinical research. In April this year, the HA further enhanced the application and approval procedures for commercially sponsored clinical research, including revising the long-standing standard clinical research agreement template to provide more up-to-date content and balance the interests of all parties. The HA has also engaged a professional organisation to assist in the review and approval of commercially sponsored clinical research applications, expediting the approval process and timeframe through the incorporation of industry expertise.
     
         The Director (Quality and Safety) of the HA, Dr Michael Wong, expressed confidence that the new measures will promote the clinical research development. “As a key player in local clinical research with professional medical teams and extensive healthcare data, the HA has been aligning with government policies and engaging in communication and exchange with various healthcare institutions and industry stakeholders. Through optimising processes and streamlining approval procedures, the HA aims to facilitate efficient implementation and execution of clinical research, fostering a more conducive environment for medical innovation and enhancing Hong Kong’s competitiveness in international clinical research.”
     
         About 100 participants in the sharing session included members and representatives from the GBAICTI and the Hong Kong Association of the Pharmaceutical Industry, who had in-depth exchanges on the development of clinical research in Hong Kong.
     
         The HA Central Institutional Review Board (Central IRB) completed the integration of all cluster Research Ethics Committees in March 2024 and has processed over 1 000 clinical research applications. The Central IRB serves as a co-ordinator and has been further streamlining the research ethics application and approval process and facilitating cross-cluster clinical research applications. Following process optimisation, simple clinical research applications can now be processed through an expedited review procedure, with approval times significantly reduced to within 30 days, while the ethics review for complex research applications can be completed within 60 days.
     
         The HA will continue to dovetail with government policy directions and the needs of the pharmaceutical industry, deepen collaboration with the GBAICTI, and fully support various clinical research applications, thereby promoting Hong Kong’s medical and scientific research, enhancing healthcare standards, and benefitting patients.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Government revises eligibility criteria for government-subsidised post-secondary student places and subsidies

    Source: Hong Kong Government special administrative region – 4

         The Government today (July 31) announced the revision of the eligibility criteria for government-subsidised post-secondary student places and subsidies: introducing two categories of tuition fees and revising the eligibility criteria. The revision will apply to the 2027/28 academic year and thereafter (the application cycle for the 2027/28 academic year commencing in October 2026). This will allow the affected persons reasonable time to make their own plans and the Joint University Programmes Admissions System (JUPAS) Office and the admissions offices of various institutions (including the University Grants Committee (UGC)-funded universities, the Hong Kong Academy for Performing Arts, and the Vocational Training Council) sufficient time to make corresponding administrative arrangements.
     
    A Government spokesperson said, “Under the current admissions arrangements, dependant visa/entry permit holders who were below 18 years old when first issued with such visa/entry permit by the Immigration Department (ImmD) are considered local students. There has been recent concern that some of these students did not come to reside in Hong Kong but applied for government-subsidised student places at UGC-funded universities as local students, which affected opportunities for university admission and the targeted use of public funds.
     
         “To clarify the eligibility criteria for government-subsidised post-secondary student places and subsidies, and to ensure the proper use of public funds, the Education Bureau, having regard to overseas practices and the practical situation in Hong Kong, considers it necessary for dependant children to reside in Hong Kong for two years before becoming eligible for government-subsidised post-secondary student places. Holders of a full-time employment visa/work permit or a visa/entry permit for various admission schemes will no longer be eligible for government-subsidised post-secondary student places.”
     
         Two categories of tuition fees are introduced under the revision. Category I refers to subsidised fees. Persons holding the following documents are eligible for government-subsidised student places in relation to sub-degree, undergraduate and taught postgraduate programmes:
     

    • A Hong Kong permanent identity card, other documents issued by the ImmD showing the right to land/right of abode in Hong Kong, and a visa label for unconditional stay;
    • A One-way Permit for entry to Hong Kong; and
    • A dependant visa/entry permit: holders who were below 18 years old when first issued with such visa/entry permit by the ImmD, provided that they have resided in Hong Kong for two years immediately preceding the first day of their respective programmes. Regarding first-year student places, to facilitate institutions’ admissions procedures, the two-year period will be specified appropriately by the JUPAS office or the institutions concerned having regard to the first day of the respective programmes. Whether the residency requirement is met is determined at or before the start of each academic year and shall remain the same for the remainder of that academic year. The first day of the academic year of a programme is determined by the programme’s start day. 

     
         Category II refers to non-subsidised fees and applies to persons not meeting the eligibility criteria in the above-mentioned Category I. These persons include:
     

    • Dependant visa/entry permit holders who were below 18 years old when first issued with such visa/entry permit by the ImmD, and they do not meet the two-year residency requirement;
    • Holders of a full-time employment visa/work permit;
    • Holders of a visa/entry permit for various admission schemes (including the Quality Migrant Admission Scheme, the Capital Investment Entrant Scheme or the Admission Scheme for the Second Generation of Chinese Hong Kong Permanent Residents); and
    • Non-local students (such as holders of a student visa/entry permit; holders of a visa/entry permit under the Immigration Arrangements for Non-local Graduates; dependant visa/entry permit holders who were 18 years old or above when first issued with such visa/entry permit by the ImmD).

     
         Category II persons may still apply for government-subsidised sub-degree, undergraduate and taught postgraduate programmes but have to pay non-subsidised fees. The institutions may determine appropriate non-subsidised fee levels, following the established principles, having regard to their own circumstances and programme costs, and taking a holistic view of various factors. The levels have to be at least sufficient to recover all additional direct costs, and to be on par with those applicable to non-local students.
     
         The Government will put in place a transitional arrangement for the above-mentioned revision, whereby the residency requirement for the 2027/28 academic year (its application cycle commencing in October 2026) will be set at one year. The two-year residency requirement will be implemented starting from the 2028/29 academic year.
     
    The spokesperson said, “When formulating the revision, the Government fully listened to various views in society and struck the right balance. The revision is not expected to have a significant impact on families with genuine intentions to come to Hong Kong for development.”
     
    Regarding the residency requirement for JUPAS applications for government-subsidised first-year-first-degree student places, applicants are required to provide the following proof:

    (a) proof from the applicant that he or she is enrolled as a full-time student in a school offering a formal curriculum in Hong Kong for the two-year period ending on May 31 in the year in which his or her respective programme begins; or
     
    (b) for those who cannot provide the proof in (a) above, a statement of travel records of the applicant which can be obtained at a fee from the ImmD covering the two-year period to demonstrate that the applicant is not absent from Hong Kong for a maximum of 90 days in each year of the two-year period.
       
         Regarding other government-subsidised post-secondary student places, including those in relation to sub-degree, senior year undergraduate and taught postgraduate programmes of UGC-funded universities, the relevant institutions are required to process the applications in an approach similar to the above-mentioned one.
     
         The eligibility criteria and related arrangements for government scholarship, fellowship or subsidy schemes which are currently premised on the definitions of “local students” and “non-local students” (such as the Hong Kong Future Talents Scholarship Scheme for Advanced Studies, the Tuition Waiver for Local Research Postgraduate Students, the Study Subsidy Scheme for Designated Professions/Sectors, and the Non-means-tested Subsidy Scheme for Self-financing Undergraduate Studies in Hong Kong) will also be correspondingly revised to ensure consistency. 

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: HD implements multipronged mosquito control measures against chikungunya fever (with photos)

    Source: Hong Kong Government special administrative region – 4

         In response to the recent surge in chikungunya fever cases reported in neighbouring regions, the Housing Department (HD) announced today (July 31) that the HD has stepped up mosquito prevention and control efforts through a multipronged approach in all public rental housing estates under the HD’s management, and appeals to residents to strengthen mosquito prevention and control measures.

         “To prevent mosquito-borne diseases effectively, all estate offices under the HD have strengthened anti-mosquito measures and prevention work jointly with different stakeholders and other government departments. They are strengthening inspections in public areas and flower beds; upon detection of mosquito breeding grounds, immediate actions will be taken, including conducting fogging operations to eliminate adult mosquitoes, removal of stagnant water and water-holding containers, application of larvicides (e.g. temephos sand granules), and installation of mosquito traps,” said an HD spokesman.

         “We have taken measures to keep drains free of blockage and level all defective ground surfaces to prevent water accumulation. We have also continuously enhanced public education and publicity through posters and leaflets to remind the public to adopt mosquito control measures. We also invited the Food and Environmental Hygiene Department to conduct educational talks to disseminate the latest information on chikungunya fever and mosquito prevention to the residents,” the spokesman added.

         Public participation is crucial in addition to the efforts of government departments. The HD urged residents to join hands to implement mosquito prevention and control measures at home and other places promptly. The measures include:
     

    • Keep the environment clean by disposing of rubbish properly. Refuse like empty cans and food containers where water can accumulate easily should be disposed of in covered litter containers;
    • Clean the saucers under potted plants weekly to prevent water accumulation;
    • Change the water in vases and scrub their internal surfaces every week;
    • Keep water storage containers, such as buckets and basins, tightly covered; and
    • Check air-conditioner drip trays to prevent any water accumulation.

         Please visit the Centre for Health Protection’s thematic webpage for more information on chikungunya fever: www.chp.gov.hk/en/features/109029.

    MIL OSI Asia Pacific News –

  • MIL-OSI: LexinFintech Holdings Ltd. to Report Second Quarter 2025 Unaudited Financial Results on August 7, 2025

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, July 31, 2025 (GLOBE NEWSWIRE) — LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading technology-empowered personal financial service enabler in China, today announced that it will report its unaudited financial results for the second quarter ended June 30, 2025, before the U.S. market opens on Thursday, August 7, 2025.

    The Company’s management will host an earnings conference call at 7:00 AM U.S. Eastern time on August 7, 2025 (7:00 PM Beijing/Hong Kong time on August 7, 2025).

    Participants who wish to join the conference call should register online at:
    https://s1.c-conf.com/diamondpass/10049362-fg8h6t.html

    Once registration is completed, each participant will receive the dial-in number and a unique access PIN for the conference call.

    Participants joining the conference call should dial in at least 10 minutes before the scheduled start time.

    A live and archived webcast of the conference call will also be available at the Company’s investor relations website at http://ir.lexin.com.

    About LexinFintech Holdings Ltd.

    We are a leading credit technology-empowered personal financial service enabler. Our mission is to use technology and risk management expertise to make financing more accessible for young generation consumers. We strive to achieve this mission by connecting consumers with financial institutions, where we facilitate through a unique model that includes online and offline channels, installment consumption platform, big data and AI driven credit risk management capabilities, as well as smart user and loan management systems. We also empower financial institutions by providing cutting-edge proprietary technology solutions to meet their needs of financial digital transformation.

    For more information, please visit http://ir.lexin.com.

    For investor and media inquiries, please contact: 

    LexinFintech Holdings Ltd.
    IR inquiries:
    Will Tan
    Tel: +86 (755) 3637-8888 ext. 6258
    E-mail: willtan@lexin.com

    Media inquiries:
    Ruifeng Xu
    Tel: +86 (755) 3637-8888 ext. 6993
    E-mail: media@lexin.com

    SOURCE LexinFintech Holdings Ltd.

    The MIL Network –

  • MIL-OSI: JD.com to Report Second Quarter and Interim 2025 Financial Results on August 14, 2025

    Source: GlobeNewswire (MIL-OSI)

    BEIJING, July 31, 2025 (GLOBE NEWSWIRE) — JD.com, Inc. (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service provider, today announced that it plans to release its unaudited financial results for the three months and six months ended June 30, 2025 on Thursday, August 14, 2025, before the U.S. market opens.

    JD.com’s management will hold a conference call at 8:00 am, Eastern Time on August 14, 2025, (8:00 pm, Beijing/Hong Kong Time on August 14, 2025) to discuss its financial results for the three months and six months ended June 30, 2025.

    Please register in advance of the conference using the link provided below and dial in 15 minutes prior to the call, using participant dial-in numbers, the Passcode and unique access PIN which would be provided upon registering. You will be automatically linked to the live call after completion of this process, unless required to provide the conference ID below due to regional restrictions.

    PRE-REGISTER LINK: https://s1.c-conf.com/diamondpass/10048710-8s8fg7.html

    CONFERENCE ID: 10048710

    A telephone replay will be available for one week until August 21, 2025. The dial-in details are as follows:

    US:
    International:
    Hong Kong:
    Mainland China:
    Passcode:    		 +1-855-883-1031
    +61-7-3107-6325
    800-930-639
    400-120-9216
    10048710
     

    Additionally, a live and archived webcast of the conference call will also be available on JD.com’s investor relations website at http://ir.jd.com.

    About JD.com, Inc.

    JD.com is a leading supply chain-based technology and service provider. The Company’s cutting-edge retail infrastructure seeks to enable consumers to buy whatever they want, whenever and wherever they want it. The Company has opened its technology and infrastructure to partners, brands and other sectors, as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries.

    For investor and media inquiries, please contact:

    Investor Relations
    Sean Zhang
    +86 (10) 8912-6804
    IR@JD.com

    Media Relations
    +86 (10) 8911-6155
    Press@JD.com

    The MIL Network –

  • MIL-OSI: Cenovus announces second-quarter 2025 results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, July 31, 2025 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its second-quarter 2025 financial and operating results. The company generated approximately $2.4 billion in cash from operating activities, $1.5 billion of adjusted funds flow and $355 million of free funds flow. Total upstream production was 765,900 barrels of oil equivalent per day (BOE/d)1, reflecting planned turnarounds at the Foster Creek and Sunrise oil sands assets, maintenance at offshore facilities and short-term production impacts from wildfire activity at Christina Lake. Downstream crude throughput was 665,800 barrels per day (bbls/d), representing an overall utilization rate of 92% and including the successful completion of a turnaround at the Toledo Refinery 11 days ahead of schedule.

    Highlights

    • Achieved first oil at Narrows Lake in July, with production expected to ramp up to peak incremental rates of 20,000 bbls/d – 30,000 bbls/d by the end of the year.
    • Delivered major milestones on the West White Rose project, with the concrete gravity structure (CGS) installed on the seabed in June and the topsides placed atop the CGS in mid-July. Hookup and commissioning work has commenced, with drilling expected to begin by year end.
    • Advanced the Foster Creek optimization project, with four new boilers brought online in July, which will add approximately 80,000 bbls/d of steam capacity to the facility.
    • Completed major turnarounds at Toledo, Sunrise and Foster Creek in the quarter, with exceptional execution, resulting in production at all assets resuming ahead of schedule.
    • Returned $819 million to shareholders, including $301 million through common share purchases, $368 million through common and preferred share dividends and $150 million through the redemption of Cenovus’s Series 7 preferred shares on June 30, 2025.

    “Operating performance this quarter was exceptional, with turnaround execution exceeding our targets, major project milestones achieved on time and on budget, and our staff safely and efficiently restoring Christina Lake production following disruption from a wildfire,” said Jon McKenzie, Cenovus President & Chief Executive Officer. “Through the hard work and determination of our people, we have arrived at an inflection point, nearing completion of numerous growth projects and successfully concluding significant maintenance events. As investment in these initiatives is completed, we expect to generate increasing free funds flow.”

    Financial summary

    ($ millions, except per share amounts) 2025 Q2 2025 Q1 2024 Q2
    Cash from (used in) operating activities 2,374 1,315 2,807
    Adjusted funds flow2 1,519 2,212 2,361
    Per share (diluted)2 0.84 1.21 1.26
    Capital investment 1,164 1,229 1,155
    Free funds flow2 355 983 1,206
    Excess free funds flow2 (306) 373 735
    Net earnings (loss) 851 859 1,000
    Per share (diluted) 0.45 0.47 0.53
    Long-term debt, including current portion 7,241 7,524 7,275
    Net debt 4,934 5,079 4,258


    Production and throughput

    (before royalties, net to Cenovus) 2025 Q2 2025 Q1 2024 Q2
    Oil and NGLs (bbls/d)1 624,000 670,900 656,300
    Conventional natural gas (MMcf/d) 851.4 887.9 867.2
    Total upstream production (BOE/d)1 765,900 818,900 800,800
    Total downstream crude throughput (bbls/d) 665,800 665,400 622,700

    1See Advisory for production by product type and by operating segment.
    2Non-GAAP financial measure or contains a non-GAAP financial measure. See Advisory.

    Second-quarter results

    Operating1

    Cenovus’s total revenues were $12.3 billion in the second quarter, down from $13.3 billion in the first quarter of 2025. Upstream revenues were $6.8 billion, a decrease from $8.3 billion in the previous quarter, while Downstream revenues were $7.7 billion, in line with the previous quarter.

    Total operating margin3 was $2.1 billion, compared with $2.8 billion in the previous quarter. Upstream operating margin4 was $2.1 billion, down from $3.0 billion in the first quarter due to lower benchmark oil prices, as well as lower production and sales volumes. The company had a Downstream operating margin4 shortfall of $71 million compared with a shortfall of $237 million in the previous quarter, benefiting from rising U.S. market crack spreads and a higher Canadian upgrading differential, as well as lower run-rate operating costs, excluding turnarounds, in both businesses. Operating margin in the U.S. Refining segment was a shortfall of $178 million, which included a $62 million inventory holding loss and $238 million of turnaround expenses.

    Total Upstream production was 765,900 BOE/d in the second quarter, a decrease from 818,900 BOE/d in the first quarter. Christina Lake production was 217,900 bbls/d compared with 237,800 bbls/d in the prior quarter, as a wildfire near the facility temporarily impacted production in the second quarter. The field was shut in on May 29 and operations were restarted safely on June 3, with a return to full production about one week later. Foster Creek production was 186,100 bbls/d compared with 202,700 bbls/d in the first quarter, reflecting planned maintenance during the quarter that was successfully completed with production returning earlier than forecasted. Sunrise production was 50,300 bbls/d compared with 52,100 bbls/d in the first quarter due to planned maintenance at the facility.

    Production from the Lloydminster thermal assets was 97,800 bbls/d, a decrease from 109,900 bbls/d in the prior quarter due to an unplanned outage at the Rush Lake facilities in west-central Saskatchewan. The company responded in early May to a steam release from a casing failure in an injection well and as a result, the Rush Lake facilities have been temporarily shut-in. The well has been brought under control, and the company is undertaking an investigation and developing a plan to safely restart production. Lloydminster conventional heavy oil output of 25,000 bbls/d increased from 21,800 bbls/d in the first quarter. Production in the Conventional segment was 119,800 BOE/d, down from 123,900 BOE/d in the previous quarter due in part to third-party outages.

    In the Offshore segment, production was 66,300 BOE/d compared with 68,800 BOE/d in the first quarter. In Asia Pacific, production volumes were 53,800 BOE/d, lower than the 57,200 BOE/d in the previous quarter, primarily due to planned maintenance at the Liwan Gas Project. In the Atlantic region, production was 12,500 bbls/d, an increase from 11,600 bbls/d in the prior quarter, due to a full quarter of production from the White Rose field, offset in part by maintenance at the partner-operated Terra Nova field in June.

    Total Downstream crude throughput in the second quarter was 665,800 bbls/d, up from 665,400 bbls/d in the first quarter. Crude throughput in Canadian Refining was 112,400 bbls/d, representing a utilization rate of 104%, compared with 111,900 bbls/d in the previous quarter.

    In U.S. Refining, crude throughput was 553,400 bbls/d, representing a utilization rate of 90%, compared with 553,500 bbls/d in the first quarter, reflecting early completion of a planned turnaround at the Toledo Refinery. U.S. Refining revenues were $6.5 billion, slightly higher than $6.4 billion in the previous quarter. Adjusted market capture5 in U.S. Refining was 58%, compared with 62% in the first quarter, due primarily to a narrower heavy oil price differential.

    3Non-GAAP financial measure. Total operating margin is the total of Upstream operating margin plus Downstream operating margin. See Advisory.
    4Specified financial measure. See Advisory.
    5Adjusted market capture excludes the impact of inventory holding gains or losses. Contains a non-GAAP financial measure. See Advisory.

    Financial

    Cash from operating activities in the second quarter increased to approximately $2.4 billion from $1.3 billion in the first quarter. Adjusted funds flow was $1.5 billion, compared with $2.2 billion in the prior quarter, and excess free funds flow (EFFF) was a shortfall of $306 million, compared with a surplus of $373 million in the first quarter. Net earnings in the second quarter declined slightly to $851 million from $859 million in the previous quarter. Second-quarter financial results were impacted by lower benchmark oil prices, lower Upstream production and higher planned maintenance costs relative to the first quarter.

    Long-term debt, including the current portion, was $7.2 billion as at June 30, 2025. Net debt was $4.9 billion as at June 30, 2025, slightly reduced from the previous quarter, as free funds flow of $355 million and a $923 million release of non-cash working capital more than offset returns to shareholders of $819 million, including the redemption of Cenovus’s Series 7 preferred shares on June 30, 2025 for $150 million. Subsequent to the quarter on July 15, the company repaid its 5.38% unsecured notes with a principal of US$133 million in full. The company continues to steward toward net debt of $4.0 billion and returning 100% of EFFF to shareholders over time, in accordance with its financial framework.

    Growth projects

    In the Oil Sands segment, Narrows Lake achieved first oil in mid-July and will continue ramping up through the remainder of the year. The optimization project at Foster Creek is approximately 87% complete and four new boilers that will add approximately 80,000 bbls/d of steam capacity were brought online in July. The project is expected to produce first oil in early 2026. At Sunrise, one well pad was started up early in the quarter and the drilling program remains on track to increase production and fully utilize the asset’s steam capacity.

    Significant progress has been made on the West White Rose project. The CGS was towed out and installed on the seabed ahead of schedule during the second quarter and the project’s topsides were safely lifted and set in place atop the CGS in mid-July. Hookup and commissioning have commenced, and the project is approximately 92% complete. Drilling is expected to begin by the end of the year and the project remains on schedule to produce first oil in the second quarter of 2026.

    2025 guidance update

    Cenovus has revised its 2025 corporate guidance to reflect the company’s updated outlook for the remainder of the year. It is available on cenovus.com under Investors.

    Changes to the company’s 2025 guidance include:

    • Total upstream production of 805,000 BOE/d to 825,000 BOE/d, a decrease of 10,000 BOE/d at the midpoint. This includes the impacts of the temporary shut in of the Rush Lake facilities.
    • Canadian downstream throughput of 105,000 bbls/d to 110,000 bbls/d, an increase of 5,000 bbls/d at the midpoint, reflecting strong year-to-date performance.
    • Reducing the range of Canadian Refining per-unit operating expenses, excluding turnaround costs, to $11.00/bbl to $12.00/bbl, as a result of higher throughput rates and lower expected costs.
    • Downstream turnaround expenses of $420 million to $450 million have been reduced by $45 million at the midpoint, primarily due to early completion of the Toledo turnaround.

    The company has also updated its commodity price assumptions and guidance range for cash taxes. Cenovus continues to execute its capital program and there has been no change to the expected capital investment range of $4.6 billion to $5.0 billion.

    Sustainability
    Cenovus’s 2024 Corporate Social Responsibility report, highlighting the company’s performance in safety, Indigenous reconciliation, and acceptance and belonging, was released today and is now available on the company’s website.

    Dividend declarations and share purchases

    The Board of Directors has declared a quarterly base dividend of $0.20 per common share, payable on September 29, 2025, to shareholders of record as of September 15, 2025.

    In addition, the Board has declared a quarterly dividend on each of the Cumulative Redeemable First Preferred Shares – Series 1 and Series 2 – payable on October 1, 2025 to shareholders of record as of September 15, 2025, as follows:

    Preferred shares dividend summary

    Share series Rate (%) Amount ($/share)
    Series 1 2.577 0.16106
    Series 2 4.374 0.27562

    All dividends paid on Cenovus’s common and preferred shares will be designated as “eligible dividends” for Canadian federal income tax purposes. Declaration of dividends is at the sole discretion of the Board and will continue to be evaluated on a quarterly basis.

    In the second quarter, the company returned $819 million to shareholders, composed of $301 million from its purchase of 17.2 million shares through its normal course issuer bid, $368 million through common and preferred share dividends, and $150 million through the redemption of Cenovus’s Series 7 preferred shares. Subsequent to the quarter, the company purchased 6.6 million common shares through July 28, 2025 for $129 million.

    2025 planned maintenance

    The following table provides details on planned maintenance activities at Cenovus assets in 2025 and anticipated production or throughput impacts.

    Potential quarterly production/throughput impact (Mbbls/d or MBOE/d)

    (MBOE/d or Mbbls/d) Q3 Q4 Annualized impact
    Upstream
    Oil Sands 5 – 7 – 7 – 9
    Offshore 2 – 4 – 1 – 2
    Conventional – – –
    Downstream
    Canadian Refining – – –
    U.S. Refining – 10 – 15 12 – 14


    Potential turnaround expenses

    ($ millions) Q3 Q4 Annualized impact
    Downstream
    Canadian Refining – – –
    U.S. Refining 55 – 70 45 – 60 420 – 450


    Conference call today

    Cenovus will host a conference call today, July 31, 2025, starting at 9 a.m. MT (11 a.m. ET).

    For analysts wanting to join the call, please register in advance.

    To participate in the live conference call, you must complete the online registration form in advance of the conference call start time. Register ahead of time to receive a unique PIN to access the conference call via telephone. Once registered, participants can dial into the conference call from their telephone via the unique PIN or click on the “Call Me” option to receive an automated call directly on their telephone.

    An audio webcast will also be available and archived for approximately 30 days.

    Advisory

    Basis of Presentation

    Cenovus reports financial results in Canadian dollars and presents production volumes on a net to Cenovus before royalties basis, unless otherwise stated. Cenovus prepares its financial statements in accordance with International Financial Reporting Standards (IFRS) Accounting Standards.

    Barrels of Oil Equivalent

    Natural gas volumes have been converted to barrels of oil equivalent (BOE) on the basis of six thousand cubic feet (Mcf) to one barrel (bbl). BOE may be misleading, particularly if used in isolation. A conversion ratio of one bbl to six Mcf is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil compared with natural gas is significantly different from the energy equivalency conversion ratio of 6:1, utilizing a conversion on a 6:1 basis is not an accurate reflection of value.

    Product types

    Product type by operating segment Three months ended
    June 30, 2025
    Oil Sands
    Bitumen (Mbbls/d) 552.1
    Heavy crude oil (Mbbls/d) 25.0
    Conventional natural gas (MMcf/d) 16.5
    Total Oil Sands segment production (MBOE/d) 579.8
    Conventional
    Light crude oil (Mbbls/d) 4.5
    Natural gas liquids (Mbbls/d) 20.4
    Conventional natural gas (MMcf/d) 569.2
    Total Conventional segment production (MBOE/d) 119.8
    Offshore
    Light crude oil (Mbbls/d) 12.5
    Natural gas liquids (Mbbls/d) 9.5
    Conventional natural gas (MMcf/d) 265.7
    Total Offshore segment production (MBOE/d) 66.3
    Total Upstream production (MBOE/d) 765.9


    Forward‐looking Information

    This news release contains certain forward‐looking statements and forward‐looking information (collectively referred to as “forward‐looking information”) within the meaning of applicable securities legislation about Cenovus’s current expectations, estimates and projections about the future of the company, based on certain assumptions made in light of the company’s experiences and perceptions of historical trends. Although Cenovus believes that the expectations represented by such forward‐looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Forward‐looking information in this document is identified by words such as “anticipate”, “continue”, “deliver”, “expect”, “plan”, “steward”, and “will” or similar expressions and includes suggestions of future outcomes, including, but not limited to, statements about: Net Debt target; returning Excess Free Funds Flow to shareholders; growth plans and projects; maximizing value; production guidance; timing of startup of the Foster Creek optimization project; ramping up production at Narrows Lake; investigating the Rush Lake incident and developing a plan to restart production; the Sunrise drilling program; the hookup and commissioning of, and timing of drilling at the West White Rose project; executing the capital program; 2025 planned maintenance; and dividend payments.

    Developing forward‐looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties, some of which are specific to Cenovus and others that apply to the industry generally. The factors or assumptions on which the forward‐looking information in this news release are based include, but are not limited to: the allocation of free funds flow; commodity prices, inflation and supply chain constraints; Cenovus’s ability to produce on an unconstrained basis; Cenovus’s ability to access sufficient insurance coverage to pursue development plans; Cenovus’s ability to deliver safe and reliable operations and demonstrate strong governance; and the assumptions inherent in Cenovus’s updated 2025 corporate guidance available on cenovus.com.

    The risk factors and uncertainties that could cause actual results to differ materially from the forward‐looking information in this news release include, but are not limited to: the accuracy of estimates regarding commodity production and operating expenses, inflation, taxes, royalties, capital costs and currency and interest rates; risks inherent in the operation of Cenovus’s business; and risks associated with climate change and Cenovus’s assumptions relating thereto and other risks identified under “Risk Management and Risk Factors” and “Advisory” in Cenovus’s Management’s Discussion and Analysis (MD&A) for the year ended December 31, 2024.

    Except as required by applicable securities laws, Cenovus disclaims any intention or obligation to publicly update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned that the foregoing lists are not exhaustive and are made as at the date hereof. Events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward‐looking information. For additional information regarding Cenovus’s material risk factors, the assumptions made, and risks and uncertainties which could cause actual results to differ from the anticipated results, refer to “Risk Management and Risk Factors” and “Advisory” in Cenovus’s MD&A for the periods ended December 31, 2024 and June 30, 2025 and to the risk factors, assumptions and uncertainties described in other documents Cenovus files from time to time with securities regulatory authorities in Canada (available on SEDAR+ at sedarplus.ca, on EDGAR at sec.gov and Cenovus’s website at cenovus.com).

    Specified Financial Measures

    This news release contains references to certain specified financial measures that do not have standardized meanings prescribed by IFRS Accounting Standards. Readers should not consider these measures in isolation or as a substitute for analysis of the company’s results as reported under IFRS Accounting Standards. These measures are defined differently by different companies and, therefore, might not be comparable to similar measures presented by other issuers. For information on the composition of these measures, as well as an explanation of how the company uses these measures, refer to the Specified Financial Measures Advisory located in Cenovus’s MD&A for the period ended June 30, 2025 (available on SEDAR+ at sedarplus.ca, on EDGAR at sec.gov and on Cenovus’s website at cenovus.com) which is incorporated by reference into this news release.

    Upstream Operating Margin and Downstream Operating Margin

    Upstream Operating Margin and Downstream Operating Margin, and the individual components thereof, are included in Note 1 to the interim Consolidated Financial Statements.

    Total Operating Margin

    Total Operating Margin is the total of Upstream Operating Margin plus Downstream Operating Margin.

      Upstream (6) Downstream (6) Total
    ($ millions) Q2 2025 Q1 2025 Q2 2024 Q2 2025 Q1 2025 Q2 2024 Q2 2025 Q1 2025 Q2 2024
    Revenues
    Gross Sales 7,394 9,252 8,715 7,743 7,705 8,750 15,137 16,957 17,465
    Less: Royalties (621) (906) (859) — — — (621) (906) (859)
      6,773 8,346 7,856 7,743 7,705 8,750 14,516 16,051 16,606
    Expenses
    Purchased Product 1,111 1,167 815 6,878 7,082 7,796 7,989 8,249 8,611
    Transportation and Blending 2,621 3,247 3,043 — — — 2,621 3,247 3,043
    Operating 896 893 889 947 854 1,099 1,843 1,747 1,988
    Realized (Gain) Loss on Risk Management 8 (9) 20 (11) 6 8 (3) (3) 28
    Operating Margin 2,137 3,048 3,089 (71) (237) (153) 2,066 2,811 2,936

    6Found in Note 1 of the June 30, 2025, or the March 31, 2025, interim Consolidated Financial Statements. Revenues and purchased product for Q2 2024 Downstream operations were revised. See Note 21 of our June 30, 2025, interim Consolidated Financial Statements.

    Adjusted Funds Flow, Free Funds Flow and Excess Free Funds Flow

    The following table provides a reconciliation of cash from (used in) operating activities found in Cenovus’s interim Consolidated Financial Statements to Adjusted Funds Flow, Free Funds Flow and Excess Free Funds Flow. Adjusted Funds Flow per Share – Basic and Adjusted Funds Flow per Share – Diluted are calculated by dividing Adjusted Funds Flow by the respective basic or diluted weighted average number of common shares outstanding during the period and may be useful to evaluate a company’s ability to generate cash.

      Three Months Ended
    ($ millions) June 30, 2025 March 31, 2025 June 30, 2024
    Cash From (Used in) Operating Activities (7) 2,374 1,315 2,807
    (Add) Deduct:      
    Settlement of Decommissioning Liabilities (68) (36) (48)
    Net Change in Non-Cash Working Capital 923 (861) 494
    Adjusted Funds Flow 1,519 2,212 2,361
    Capital Investment 1,164 1,229 1,155
    Free Funds Flow 355 983 1,206
    Add (Deduct):      
    Base Dividends Paid on Common Shares (364) (327) (334)
    Purchase of Common Shares under Employee Benefit Plan (15) (58) —
    Dividends Paid on Preferred Shares (4) (6) (9)
    Settlement of Decommissioning Liabilities (68) (36) (48)
    Principal Repayment of Leases (94) (83) (75)
    Acquisitions, Net of Cash Acquired (129) (100) (5)
    Proceeds From Divestitures 13 — —
    Excess Free Funds Flow (306) 373 735

    7Found in the June 30, 2025, or the March 31, 2025, interim Consolidated Financial Statements.

    Adjusted Market Capture

    Adjusted market capture contains a non-GAAP financial measure and is used in the company’s U.S. Refining segment to provide an indication of margin captured relative to what was available in the market based on widely-used benchmarks. Cenovus defines adjusted market capture as refining margin, net of holding gains and losses, divided by the weighted average 3-2-1 market benchmark crack, net of RINs, expressed as a percentage. The weighted average crack spread, net of RINs, is calculated on Cenovus’s operable capacity-weighted average of the Chicago and Group 3 3-2-1 benchmark market crack spreads, net of RINs.

    The company previously disclosed market capture which did not exclude the effect of inventory holding gains or losses. Cenovus replaced market capture with adjusted market capture to exclude the impact of inventory holding gains or losses. The company believes this metric provides more comparability and accuracy when measuring the cash generating performance of our downstream operations. Comparative periods were revised to conform with our current presentation.

    ($ millions) Three months ended
    June 30, 2025    		 Three months ended
    March 31, 2025
    Revenues (8) 6,455 6,423
    Purchased Product (8) 5,838 6,006
    Gross Margin 617 417
    Inventory Holding (Gain) Loss 62 23
    Adjusted Gross Margin 679 440
    Total Processed Inputs (Mbbls/d) 594.2 581.0
    Adjusted Gross Margin ($/bbl) 12.57 8.41
    Operable Capacity (Mbbls/d) 612.3 612.3
    Operable Capacity by Regional Benchmark (percent)
    Chicago 3-2-1 Crack Spread Weighting 81 81
    Group 3 3-2-1 Crack Spread Weighting 19 19
    Benchmark Prices and Exchange Rate
    Chicago 3-2-1 Crack Spread (US$/bbl) 21.64 13.68
    Group 3 3-2-1 Crack Spread (US$/bbl) 23.07 16.48
    RINs (US$/bbl) 6.12 4.76
    US$ per C$1 – Average 0.723 0.697
    Weighted Average Crack Spread, Net of RINs ($/bbl) 21.86 13.58
    Adjusted Market Capture (percent) 58 62

    8Found in Note 1 of the June 30, 2025, or the March 31, 2025, interim Consolidated Financial Statements.

    Cenovus Energy Inc.

    Cenovus Energy Inc. is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The company is committed to maximizing value by developing its assets in a safe, responsible and cost-efficient manner, integrating environmental, social and governance considerations into its business plans. Cenovus common shares and warrants are listed on the Toronto and New York stock exchanges, and the company’s preferred shares are listed on the Toronto Stock Exchange. For more information, visit cenovus.com.

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