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Category: Asia Pacific

  • MIL-OSI Asia-Pac: LCQ10: Home ownership by public

    Source: Hong Kong Government special administrative region

    (2) whether it has compiled statistics for each year over the past 10 years on the median monthly income and the median value of monthly mortgage repayment of local owner-occupied households; if so, of the details; if not, the reasons for that;

    (3) as there are views that home ownership can enhance people’s sense of belonging to community and foster strong work values, but according to a research brief published by the Legislative Council Secretariat in March 2021 and data from the Census and Statistics Department, the overall local home ownership rate and the home ownership rate among young people aged below 35 have both declined in recent years, whether the authorities will consider setting a home ownership rate afresh in LTHS in the future; if not, of the reasons for that; and 
    Reply:
     
    President,
     
         Hong Kong’s housing policy has all along been an important cornerstone of social development. The current-term Government put in place measures to enhance quantity, speed, efficiency and quality in land production. With our unremitting efforts in the past three years, the problem of back-loaded public housing supply (including public rental housing (PRH) and subsidised sale flats (SSF)) has completely turned around. Coupled with Light Public Housing (LPH), the total public housing supply (including also PRH and SSF) in the coming five years (i.e. 2025-26 to 2029-30) will reach 197 000 units, which is a significant increase of 85 per cent as compared with the first five year period since the current-term Government took office (i.e. 2022-23 to 2026-27). In addition, we have successfully capped the waiting time for PRH, which has reduced from the peak of 6.1 years to 5.3 years. The oversubscription rate of Home Ownership Scheme (HOS) has also dropped from the peak of 62 times in HOS 2019 to 14 times in HOS 2024. Looking ahead, with the completion of various public housing (including PRH and SSF) as well as LPH projects, the Composite Waiting Time for Subsidised Rental Housing will gradually decline. Therefore, we have more confidence to provide more SSF to further meet the home ownership aspiration of the public.
     
         Currently, about half of the households are residing in accommodations that they own. For most people, buying a property is a major life decision involving many considerations, such as family and childbearing plans as well as the pursuit of a more independent and modern lifestyle, etc. For low- to middle-income persons who cannot afford private housing, SSF is a very suitable first step in realising their dream of home ownership. In this regard, we have all along been striving to enhance the housing ladder through the provision of various types of SSF in response to the home ownership aspiration of households with different income and encourage citizens from all walks of life to move up the social ladder according to their abilities.
     
         In consultation with the Financial Services and the Treasury Bureau and the Census and Statistics Department (C&SD), our reply to the questions raised by Dr the Hon Wendy Hong is as follows:
     
    (1) and (2) Results of the 2016 Population By-census and the 2021 Population Census conducted by C&SD provide statistics regarding home ownership and related demographic and socio-economic characteristics of Hong Kong’s domestic households in the past decade. The number of owner-occupier domestic households by age group of household head and type of housing are listed in Annex 1. Over the past five years, the number of owner-occupier households and households owning SSF increased by over 80 000 and nearly 30 000 respectively, representing growth rates of 6 per cent and 7 per cent. This reflects a rising trend of homeownership among families. The median monthly income and the median mortgage payment and loan repayment of owner-occupier domestic households are listed in Annex 2.
     
         It is worth noting that between 2016 and 2021, only an average of about 4 200 flats were put up for sale under each HOS sale exercise, and the oversubscription rate was as high as about 43 times on average. However, the current-term Government is very determined to tackle the housing problem in Hong Kong. As a result, in the coming five years (i.e. 2025-26 to 2029-30), in addition to PRH/Green Form Subsidised Home Ownership Scheme (GSH) flats, the Hong Kong Housing Authority (HA) and the Hong Kong Housing Society (HS) will have a completion of about 56 500 SSF, averaging about 11 000 units annually. This is 2.6 times of the annual output before the current-term Government took office.
     
    (3) and (4) As stated above, the current-term Government is very determined to resolve housing problem in Hong Kong and we also care about our young people. Therefore, we have introduced a number of policy measures to assist citizens (especially young people) in realising their home ownership aspiration through various aspects, such as supply, allocation and financial arrangements. Since the current-term Government took office, more than 33 000 applicants have purchased SSF, and the difficulties faced by low- and middle-income families in acquiring their own properties over the past decade or so have been clearly reversed by the concerted efforts of the various teams of the current-term Government in providing more land and housing. With the increasing supply of SSF in the coming years, more residents will experience the happiness and sense of fulfillment brought by homeownership over the next decade, enabling more families to settle securely and thrive in our city.
     
         In addition, in terms of supply, the Chief Executive announced in the 2024 Policy Address that the HA would adjust the ratio between PRH (including GSH units) and SSF to gradually adjust the ratio from 7:3 to 6:4 in order to increase the supply of SSF. In the next five years (i.e. 2025-26 to 2029-30), the HA and the HS will complete about 56 500 SSF. As stated above, we believe that a continuous and stable supply of SSF led by the Government is conducive to the upward mobility along the housing ladder and it will help those in need realise their dream of owning a home according to their respective needs and abilities.
     
         At the same time, we have also proposed a series of policy measures to meet the housing needs and demands of different citizens, including revising the ratio between Green Form and White Form in respect of HOS flats from the current 4:6 to 5:5 so as to allow more PRH tenants who would like to purchase HOS flats to move upwards; and increasing the chance of young people and applicants who have made repeated attempts to purchase SSF by optimising the sales arrangements.
     
         Starting from HOS 2024, the HA has implemented the Families with Newborns Flat Selection Priority Scheme which was announced in the 2023 Policy Address. A quota of about 40 per cent of the new flats for sale (i.e. 2 900 flats) under HOS 2024 were set aside for eligible applicants under the Families with Newborns Flat Selection Priority Scheme and the Priority Scheme for Families with Elderly Members for balloting and priority flat selection. During the application period of HOS 2024, the HA received a total of around 106 000 applications. Among them, around 50 000 came from family applicants, in which around 19 000 applied under the Priority Scheme for Families with Elderly Members and Families with Newborns Flat Selection Priority Scheme, representing around 40 per cent of family applicants. If eligible families applying under the Families with Newborns Flat Selection Priority Scheme fail to purchase a flat under HOS 2024, they may still apply under the Scheme for priority flat selection as long as their children are aged three or below on the closing day of the application of subsequent SSF sale exercises. In addition, following GSH 2024, the HA will allocate an extra ballot number to applicants who had failed to purchase a flat in the last two consecutive sale exercises starting from the next HOS exercise, so as to increase their chances of success in purchasing SSF. Based on the figures of HOS 2024, assuming all factors remain constant (including the number of applicants, their age, etc), the success rate of eligible families applying under the of Families with Newborns Flat Selection Priority Scheme in purchasing a flat will increase by about 60 per cent, after obtaining an extra ballot number.
     
         The HA has also been assisting low- to middle-income families in purchasing homes through pricing and financial arrangements. First of all, the Government revised the pricing mechanism of SSF in 2018. The pricing of SSF is calculated on the basis of applicants’ affordability, which is delinked from the private housing market. Under the current pricing mechanism, at least 75 per cent of the flats for sale can allow non-owner occupier households earning the median monthly household income to spend no more than 40 per cent of their monthly income on mortgage payment. Based on affordability calculations, the selling prices of the flats offered under latest GSH and HOS sale exercises were set at 60 per cent and 70 per cent of their assessed market value respectively.
     
         On top of this, the HA relaxed mortgage arrangements for SSF in 2024, including extending the maximum mortgage default guarantee from 30 years to 50 years and extending the maximum mortgage repayment period from 25 years to 30 years to enable purchasers of first-hand and second-hand SSF to obtain mortgage loans from banks and authorised financial institutions participating in the provision of mortgage loans for such flats. After the implementation of relevant arrangements, the number of HOS/GSH flats with a residual guarantee period of more than 10 years increased substantially from about 14 per cent to about 98 per cent. As at May 2025, the average number of transactions of second-hand SSF was about 360 per month, which was about 60 per cent higher than the average number of transactions of about 230 per month in the 12 months before the implementation. Besides, after extending the maximum mortgage repayment period for flats sold under the secondary market from 25 years to 30 years, among buyers who applied for mortgages to purchase SSF in the secondary market, more than half of the cases have a repayment period of 25 years or more. This shows that the above measures have successfully revitalised the secondary market and facilitated the turnover of SSF in the secondary market.
     
         For the secondary market, starting from White Form Secondary Market Scheme (WSM) 2024, the HA has also significantly increased the quota by 1 500 to 6 000, all of which will be allocated to young family applicants and one-person applicants aged below 40. Of all the applications for WSM 2024, more than 80 per cent (i.e. about 28 000 applications) were from young applicants who chose to participate in Youth Scheme (WSM), reflecting that the scheme is well received by young people.
     
         In addition, the Government also responds to the home ownership aspirations of higher-income persons who are not eligible for the HOS and yet cannot afford private housing through Starter Homes for Hong Kong Residents (SH) projects. Apart from the first two SH projects offered for sale by the Urban Renewal Authority (i.e. eResidence Towers 1 and 2, as well as eResidence Tower 3) with a total of over 600 SH units sold, the Government is also taking forward a few other SH projects, which will provide a total of around 5 000 SH units from the next few years onwards. Amongst applicants and final purchasers of SH units offered for sale in the past, around 85 per cent were youth aged 40 or below. We believe that this initiative may help another batch of youngsters from the middle class with higher income yet still cannot afford private housing achieve home ownership with more available options.
     
         Having regard to changes in the overall situation of the property market, the current-term Government has since February 2024 abolished all demand-side management measures for residential properties. The Hong Kong Monetary Authority has also since October 2024 adjusted the countercyclical macroprudential measures for property mortgage loans. The maximum loan-to-value (LTV) ratio and debt servicing ratio (DSR) limit were reverted to the pre-2009 levels before the countercyclical macroprudential measures were first introduced, with the maximum LTV ratio for all residential properties adjusted to 70 per cent, regardless of the value of the property, and the DSR limit adjusted to 50 per cent, providing facilitation to persons with different needs for property purchase. Individuals may also obtain high LTV ratio mortgage loans through the Mortgage Insurance Programme according to their own needs. In particular, for first-time homebuyers with regular income purchasing properties priced at $10 million or below, the LTV ratio can be up to 90 per cent, which greatly reduces their down payment burden.
     
         Furthermore, to ease the burden on buyers of properties at lower values, the Government has since 26 February 2025 adjusted the value bands of Ad Valorem Stamp Duty payable for sale and purchase or transfer of residential and non-residential properties, raising the maximum value of properties chargeable to $100 stamp duty from $3 million and $4 million, facilitating those who wish to purchase flats. As most SSF units are priced below $4 million, buyers may benefit from the aforementioned reduction in stamp duty to $100, with savings up to over $59 000. According to the information from the Inland Revenue Department, there were 3 780 duly stamped sale and purchase agreements for residential properties valued between $3 million and $4 million from March to May 2025, which represents a significant increase of over 70 per cent as compared to the same period last year (March to May 2024) where 2 183 sale and purchase agreements were duly stamped.
     
         We will continue to review whether there is room to optimise various relevant arrangements having regard to factors including developments of the property market, the home ownership needs of different citizens, etc.

    MIL OSI Asia Pacific News –

  • Indian NBFCs to clock 25 pc growth in education loan AUM in FY26 amid US uncertainties

    Source: Government of India

    Source: Government of India (4)

    For non-banking finance companies (NBFCs) in India, education loans have been the fastest-growing asset class, clocking over 50 per cent growth in the assets under management (AUM) over the past few years, a report said on Wednesday. This fiscal (FY26), growth is seen moderating to 25 per cent with AUM reaching Rs 80,000 crore.

    The pace is likely to halve this fiscal as disbursements for pursuing educational courses in the US decelerate following a raft of policy changes in that country, according to the report by Crisil Rating.

    To mitigate the impact, NBFCs are diversifying into new geographies and product adjacencies. While non-performing assets (NPAs) have remained stable so far, asset quality will be monitorable given the global uncertainties and a large proportion of AUM (85) remaining under contractual principal moratorium, the report mentioned.

    The education loan AUM of NBFCs grew a rapid 48 per cent to Rs 64,000 crore last fiscal. That followed an even faster 77 per cent growth in fiscal 2024.

    “Policy uncertainties in the US, combined with measures including reduced visa appointments and the proposed elimination of Optional Practical Training norms have culled newer loan originations. This has led to a 30 per cent decline in total disbursements to that geography last fiscal,” said Malvika Bhotika, Director, Crisil Ratings.

    Disbursements linked to even Canada, the second-largest market, fell as student visa rules turned stricter, including increased financial requirements via proof of available funds, and cap on permits.

    “Consequently, overall education loan disbursements were up only 8 per cent in fiscal 2025, compared with 50 per cent in fiscal 2024, Bhotika mentioned.

    To offset these headwinds, NBFCs have sharpened focus on other geographies.

    Disbursements linked to courses in the UK, Germany, Ireland and smaller countries have doubled in the past fiscal as students opted for alternative destinations.

    The share of such geographies in total disbursements rose to almost 50 per cent in fiscal 2025 from 25 per cent a year ago.

    NBFCs are also looking at domestic student loans and adjacencies such as school funding, loans for skill development, certification and coaching. Given the lower ticket sizes of such loans, their share in the overall portfolio is unlikely to be material, but they may lend some stability in times of global uncertainties.

    “The ability of NBFCs to scale up and maintain asset quality in some of the newer domestic products will bear watching as well,” said Sonica Gupta, Associate Director, Crisil Ratings. Moreover, the agility of the NBFCs to navigate the complexities of the global landscape, characterised by uncertainty and change in preferences of students, will be crucial for sustained growth and success.

    (IANS)

  • MIL-OSI Banking: The 58th ASEAN Foreign Ministers’ Meeting convenes in Kuala Lumpur, Malaysia

    Source: ASEAN – Association of SouthEast Asian Nations

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today joined the ASEAN Foreign Ministers at the 58th ASEAN Foreign Ministers’ Meeting (AMM) in Kuala Lumpur, Malaysia. The meeting was chaired by Minister of Foreign Affairs of Malaysia, The Honourable Dato’ Seri Utama Haji Mohamad Bin Haji Hasan, and was held in both plenary and retreat sessions. The meeting took stock of the progress made after the 46th ASEAN Summit held in Malaysia in May of this year, regarding the ASEAN Community-building efforts, and discussed the state of ASEAN’s external relations as well as regional and global developments. Timor-Leste attended the Meeting as Observer. The Ministers reaffirmed their commitment to supporting Malaysia in realising its Chairmanship deliverables this year under the theme “Inclusivity and Sustainability.”

    The post The 58th ASEAN Foreign Ministers’ Meeting convenes in Kuala Lumpur, Malaysia appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • Broadband subscribers in India cross 944 million, up 2.17% in FY 25: TRAI

    Source: Government of India

    Source: Government of India (4)

    The number of broadband subscribers rose to 944.12 million in India, the Telecom Regulatory Authority of India (TRAI) data showed on Tuesday.

    TRAI released its “Indian Telecom Services – Yearly Performance Indicators Report” for 2024–25, offering a detailed overview of India’s telecom and broadcasting sectors from April 1, 2024, to March 31, 2025.

    India’s internet subscribers rose to 969.10 million from 954.40 million at the end of March 2025, the Ministry of Communications said in a statement. Broadband connections accounted for 944.12 million, registering a 2.17% growth, while narrowband users declined sharply by 17.66% to 24.98 million.

    Mobile Average Revenue Per User (ARPU) saw a notable increase of 16.89%, rising from ₹149.25 to Rs 174.46. Prepaid ARPU rose, while postpaid ARPU marginally declined.

    Total wireless data usage jumped 17.46% to 2,28,779 Petabytes (PB), and data revenue grew 15.49% to Rs 2.15 lakh crore. The number of wireless data users also rose to 939.51 million.

    India’s total telephone subscriber base grew marginally by 0.13% to 1,200.80 million. However, overall teledensity slipped from 85.69% to 85.04%. While urban subscriptions increased slightly, urban teledensity declined by 1.70%. Rural subscriptions also rose, but rural teledensity saw a minor dip.

    Wireless subscribers fell by 0.73%, with a net loss of 8.5 million users. Wireline connections, however, surged by 9.62% to 37.04 million, boosting wireline teledensity from 2.41% to 2.62%.

    The sector’s Gross Revenue (GR) grew by 10.72% to Rs 3.72 lakh crore, while Adjusted Gross Revenue (AGR) rose 12.02% to Rs 3.03 lakh crore. Spectrum Usage Charges and license fees also recorded significant increases.

    In the broadcasting sector, India had 918 permitted private satellite TV channels as of March 2025, with 333 pay channels (232 SD and 101 HD). Pay DTH subscribers declined to 56.92 million, down from 61.97 million the previous year.

    There were 388 operational private FM radio stations across 113 cities, operated by 33 broadcasters after a recent merger. Community Radio Stations also saw growth, increasing from 494 to 531.

    The full report is available on TRAI’s website (www.trai.gov.in).

  • Germany move closer to Euro 2025 knockouts with 2-1 win over Denmark

    Source: Government of India

    Source: Government of India (4)

    Germany’s Sjoeke Nuesken and Lea Schueller struck in the second half to fire the eight-times champions to the verge of the Euro 2025 quarter-finals with a 2-1 victory over Denmark on Tuesday that left the Danes on the brink of an early exit.

    Trailing 1-0 in a game in which two key VAR decisions in the first half went against them, Germany finally got on the scoresheet when they were awarded a penalty in the 56th minute. Nuesken stepped up and calmly slotted her spot-kick into the bottom corner.

    Schueller put the Germans ahead 10 minutes later after a failed clearance by Denmark landed at the Bayern Munich forward’s feet and she swept it into the far corner.

    “This is a victory of mentality, we knew it was going to be tight, we were very happy we were able to turn it around,” Germany coach Christian Wueck said. “It was the mentality, they really wanted to win, so we love to take that away with us.”

    Germany had celebrated what they thought was the opening goal by Klara Buehl but boos rang around the packed St Jakob-Park stadium when it was ruled offside.

    That seemed to halt Germany’s momentum and Amalie Vangsgaard struck for Denmark in the 26th minute when she took a touch before unleashing a shot from a tight angle past Ann-Katrin Berger.

    Germany thought they had won a penalty earlier when the referee whistled and pointed to the spot because of a Denmark handball but VAR determined it was outside the box, prompting more boos from the German fans.

    The Germans will secure their quarter-final place if Poland fail to beat Sweden in Tuesday’s late Group C game.

    Germany defeated Poland in their tournament opener but it came at a heavy cost as captain Giulia Gwinn suffered a knee injury that ended her tournament. Banners of support for the absent skipper dotted the crowd on Tuesday.

    Although Gwinn’s loss was huge, the team’s collective strength enabled them to come from behind after trailing at halftime for only the fourth time in Euros history, as they cranked up the intensity in the second half, finishing the game with 27 shots to Denmark’s five.

    Germany have dominated the Euros since they won the competition for the first time as West Germany in 1989. They lost 2-1 to England in the 2022 final, but have been rebuilding after suffering a shock exit in the group stage of the 2023 World Cup. Denmark had lost to neighbours Sweden in their opener.

    “I think our performance is good in general for a team working extremely hard, but it’s a very good German team,” Denmark coach Andree Jeglertz said.

    “It’s about winning and taking points, and I’m very disappointed that we don’t manage to keep the result, or at least get a point in the end.”

    (Reuters)

  • Germany move closer to Euro 2025 knockouts with 2-1 win over Denmark

    Source: Government of India

    Source: Government of India (4)

    Germany’s Sjoeke Nuesken and Lea Schueller struck in the second half to fire the eight-times champions to the verge of the Euro 2025 quarter-finals with a 2-1 victory over Denmark on Tuesday that left the Danes on the brink of an early exit.

    Trailing 1-0 in a game in which two key VAR decisions in the first half went against them, Germany finally got on the scoresheet when they were awarded a penalty in the 56th minute. Nuesken stepped up and calmly slotted her spot-kick into the bottom corner.

    Schueller put the Germans ahead 10 minutes later after a failed clearance by Denmark landed at the Bayern Munich forward’s feet and she swept it into the far corner.

    “This is a victory of mentality, we knew it was going to be tight, we were very happy we were able to turn it around,” Germany coach Christian Wueck said. “It was the mentality, they really wanted to win, so we love to take that away with us.”

    Germany had celebrated what they thought was the opening goal by Klara Buehl but boos rang around the packed St Jakob-Park stadium when it was ruled offside.

    That seemed to halt Germany’s momentum and Amalie Vangsgaard struck for Denmark in the 26th minute when she took a touch before unleashing a shot from a tight angle past Ann-Katrin Berger.

    Germany thought they had won a penalty earlier when the referee whistled and pointed to the spot because of a Denmark handball but VAR determined it was outside the box, prompting more boos from the German fans.

    The Germans will secure their quarter-final place if Poland fail to beat Sweden in Tuesday’s late Group C game.

    Germany defeated Poland in their tournament opener but it came at a heavy cost as captain Giulia Gwinn suffered a knee injury that ended her tournament. Banners of support for the absent skipper dotted the crowd on Tuesday.

    Although Gwinn’s loss was huge, the team’s collective strength enabled them to come from behind after trailing at halftime for only the fourth time in Euros history, as they cranked up the intensity in the second half, finishing the game with 27 shots to Denmark’s five.

    Germany have dominated the Euros since they won the competition for the first time as West Germany in 1989. They lost 2-1 to England in the 2022 final, but have been rebuilding after suffering a shock exit in the group stage of the 2023 World Cup. Denmark had lost to neighbours Sweden in their opener.

    “I think our performance is good in general for a team working extremely hard, but it’s a very good German team,” Denmark coach Andree Jeglertz said.

    “It’s about winning and taking points, and I’m very disappointed that we don’t manage to keep the result, or at least get a point in the end.”

    (Reuters)

  • Joao Pedro brace sends Chelsea into Club World Cup final

    Source: Government of India

    Source: Government of India (4)

    Joao Pedro kept the celebrations to a minimum after scoring twice to send Chelsea into the Club World Cup final, his goals proving the undoing of his former club Fluminense in a bittersweet meeting at MetLife Stadium on Tuesday.

    The 23-year-old Brazilian forward, who joined Chelsea from Brighton & Hove Albion six days ago, found the net in the 18th minute with a superb strike and again early in the second half with another excellent finish to seal his team’s 2-0 victory and passage to the final.

    He held his hands up apologetically after each strike against the club where he spent his formative years, even as his teammates swarmed around him on the pitch, only briefly cracking a smile after the second goal.

    “They (Fluminense) gave everything to me. They showed me to the world. If I’m here, it’s because they believed in me,” said Pedro.

    “I’m very grateful but this is football – I have to be professional. I feel sorry for them but I have to do my job.”

    Pedro made his debut for Chelsea in their 2-1 quarter-final win over Palmeiras on Friday with only a couple training sessions under his belt. Four days later, he was in the starting team.

    “Today I think because I started, I had more time to do my stuff and I had to score. The team won, the team played well and that’s important,” he added in televised remarks.

    Pedro joined a month after Chelsea signed Liam Delap, as the club moved to plug a forward shortage.

    Chelsea face the winner of the second semi-final on Wednesday between Paris St Germain and Real Madrid. The final is set for Sunday at MetLife Stadium.

    (Reuters)

  • Joao Pedro brace sends Chelsea into Club World Cup final

    Source: Government of India

    Source: Government of India (4)

    Joao Pedro kept the celebrations to a minimum after scoring twice to send Chelsea into the Club World Cup final, his goals proving the undoing of his former club Fluminense in a bittersweet meeting at MetLife Stadium on Tuesday.

    The 23-year-old Brazilian forward, who joined Chelsea from Brighton & Hove Albion six days ago, found the net in the 18th minute with a superb strike and again early in the second half with another excellent finish to seal his team’s 2-0 victory and passage to the final.

    He held his hands up apologetically after each strike against the club where he spent his formative years, even as his teammates swarmed around him on the pitch, only briefly cracking a smile after the second goal.

    “They (Fluminense) gave everything to me. They showed me to the world. If I’m here, it’s because they believed in me,” said Pedro.

    “I’m very grateful but this is football – I have to be professional. I feel sorry for them but I have to do my job.”

    Pedro made his debut for Chelsea in their 2-1 quarter-final win over Palmeiras on Friday with only a couple training sessions under his belt. Four days later, he was in the starting team.

    “Today I think because I started, I had more time to do my stuff and I had to score. The team won, the team played well and that’s important,” he added in televised remarks.

    Pedro joined a month after Chelsea signed Liam Delap, as the club moved to plug a forward shortage.

    Chelsea face the winner of the second semi-final on Wednesday between Paris St Germain and Real Madrid. The final is set for Sunday at MetLife Stadium.

    (Reuters)

  • Joao Pedro brace sends Chelsea into Club World Cup final

    Source: Government of India

    Source: Government of India (4)

    Joao Pedro kept the celebrations to a minimum after scoring twice to send Chelsea into the Club World Cup final, his goals proving the undoing of his former club Fluminense in a bittersweet meeting at MetLife Stadium on Tuesday.

    The 23-year-old Brazilian forward, who joined Chelsea from Brighton & Hove Albion six days ago, found the net in the 18th minute with a superb strike and again early in the second half with another excellent finish to seal his team’s 2-0 victory and passage to the final.

    He held his hands up apologetically after each strike against the club where he spent his formative years, even as his teammates swarmed around him on the pitch, only briefly cracking a smile after the second goal.

    “They (Fluminense) gave everything to me. They showed me to the world. If I’m here, it’s because they believed in me,” said Pedro.

    “I’m very grateful but this is football – I have to be professional. I feel sorry for them but I have to do my job.”

    Pedro made his debut for Chelsea in their 2-1 quarter-final win over Palmeiras on Friday with only a couple training sessions under his belt. Four days later, he was in the starting team.

    “Today I think because I started, I had more time to do my stuff and I had to score. The team won, the team played well and that’s important,” he added in televised remarks.

    Pedro joined a month after Chelsea signed Liam Delap, as the club moved to plug a forward shortage.

    Chelsea face the winner of the second semi-final on Wednesday between Paris St Germain and Real Madrid. The final is set for Sunday at MetLife Stadium.

    (Reuters)

  • Sweden reach Euro 2025 knockouts with 3-0 win over Poland

    Source: Government of India

    Source: Government of India (4)

    Sweden subjected Poland to an all-out aerial attack, scoring three headed goals in a 3-0 win to reach the knockout stages of the women’s European Championship, with captain Kosovare Asllani playing the role of air traffic controller throughout.

    The mercurial 35-year-old sent an early looping header bouncing off the woodwork before teeing up Stina Blackstenius to open the scoring.

    She then netted a header herself after the break, with Lina Hurtig adding a third from a corner as the Swedes guaranteed a top-two spot in Group C and a place in the next round. They will face Germany in their final group game on Saturday to decide who finishes top.

    “The plan was to attack through the flanks and through the wings, because we knew we would have a lot of space there, so we tried to attack, and got a lot of crosses in,” Asllani told Reuters.

    “The first goal, I waited one second extra, waited for their defenders to move, for me to chip it in to Stina. So it’s three headers, three beautiful goals, the three points.”

    The Swedes never relented, pushing down the wings throughout the game.

    “We had seen clips where they are centred themselves a lot, so it felt natural for us to go wide and work from there. It worked for the whole game, so we just kept going at it,” midfielder Filippa Angeldahl told Reuters.

    “We’ll go through Germany and we’ll take a lot of things with us from today. Obviously we’re strong in the box and we want to get in the box as much as possible.”

    With Poland and Denmark now eliminated, it remains to be seen whether the Swedes will adopt the same tactics against Germany when the two sides battle it out in Zurich, and Asllani had a steely look when asked what the plan would be.

    “We want to win the group. That’s clear,” she said.

    (Reuters)

     

  • India’s internet subscribers cross 969 million in FY25, driven by broadband growth: TRAI

    Source: Government of India

    Source: Government of India (4)

    India’s internet subscriber base grew by 1.54% in the financial year 2024–25, rising from 954.40 million in March 2024 to 969.10 million in March 2025, according to data released by the Telecom Regulatory Authority of India (TRAI) on Tuesday.

    The growth was primarily driven by an increase in broadband subscribers, which rose from 924.07 million to 944.12 million, marking a 2.17% year-on-year gain.

    In contrast, narrowband subscriptions declined by 17.66%, falling from 30.34 million to 24.98 million during the same period.

    The report, titled Indian Telecom Services – Yearly Performance Indicators, also noted a 16.89% increase in mobile Average Revenue Per User (ARPU), which climbed from ₹149.25 to ₹174.46. While prepaid ARPU saw a notable rise, postpaid ARPU recorded a slight decline.

    Total wireless data usage jumped 17.46% to 2,28,779 Petabytes (PB), and data revenue grew 15.49% to Rs 2.15 lakh crore. The number of wireless data users also rose to 939.51 million.

    India’s total telephone subscriber base grew marginally by 0.13% to 1,200.80 million. However, overall teledensity slipped from 85.69% to 85.04%. While urban subscriptions increased slightly, urban teledensity declined by 1.70%. Rural subscriptions also rose, but rural teledensity saw a minor dip.

    Wireless subscribers fell by 0.73%, with a net loss of 8.5 million users. Wireline connections, however, surged by 9.62% to 37.04 million, boosting wireline teledensity from 2.41% to 2.62%.

    The sector’s Gross Revenue (GR) grew by 10.72% to Rs 3.72 lakh crore, while Adjusted Gross Revenue (AGR) rose 12.02% to Rs 3.03 lakh crore. Spectrum Usage Charges and license fees also recorded significant increases.

    In the broadcasting sector, India had 918 permitted private satellite TV channels as of March 2025, with 333 pay channels (232 SD and 101 HD). Pay DTH subscribers declined to 56.92 million, down from 61.97 million the previous year.

    There were 388 operational private FM radio stations across 113 cities, operated by 33 broadcasters after a recent merger. Community Radio Stations also saw growth, increasing from 494 to 531.

    The full report is available on TRAI’s website (www.trai.gov.in).

     

  • MIL-OSI Asia-Pac: LCQ9: Regulation of medical devices

    Source: Hong Kong Government special administrative region

    LCQ9: Regulation of medical devices 
    Question:
     
         At present, Hong Kong has only put in place a voluntary Medical Device Administrative Control System (the System), and there is no legislation to regulate such devices. On the other hand, it is learnt that some merchants are promoting and marketing parallel-imported contact lenses on the Internet, but these products do not have any medical device labelling on their packaging boxes, or the labelling shows signs of alteration (e.g. “the unique device identifier” has been cut off or covered), thus making it difficult to identify whether the products belong to problematic batches, and the quality of such products cannot be guaranteed. In this connection, will the Government inform this Council:
     
    (1) given that contact lenses is a class II medical device under the system, of the Government’s control over the importation and sale (including online sale) of contact lens products;
     
    (2) of the number of reports and requests for assistance received by the Government in the past three years in relation to parallel-imported contact lenses, as well as the categories of such cases (e.g. improper packaging labels, discomfort after use, etc.); whether it has taken law enforcement actions against merchants who have made unauthorised alterations to the packaging information of contact lenses (including parallel-imported contact lenses); if so, of the details; if not, the reasons for that; and
     
    (3) as the Government indicated in June last year that it was conducting a comprehensive review of the proposed legislative framework for medical device regulation, whether the Government will draw up a concrete timetable for introducing legislative amendments to regulate the manufacture, importation, quality assurance, sale and post-sale follow-up of medical devices; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         In consultation with the Commerce and Economic Development Bureau, the Customs and Excise Department (C&ED) and the Department of Health (DH), the Health Bureau provides a consolidated reply to the question raised by Dr the Hon David Lam as follows:
     
         While there is not yet specific legislation to regulate medical devices in Hong Kong, some products are already regulated by existing pieces of legislation, such as the Pharmacy and Poisons Ordinance (Cap. 138), the Consumer Goods Safety Ordinance (CGSO) (Cap. 456) and the Trade Descriptions Ordinance (TDO) (Cap. 362) etc., depending on the characteristics and features of the products concerned.
     
         To safeguard public health, the DH has made reference to the recommendation of the Global Harmonization Task Force (now known as the International Medical Device Regulators Forum) and introduced the voluntary Medical Device Administrative Control System (MDACS) since 2004, under which a listing system for medical devices and traders as well as a post-market monitoring system for the products are put in place.  
     
         According to the prevailing MDACS, contact lenses are usually categorised as Class II (low-moderate risk) general medical devices. To apply for listing under the MDACS, a medical device must be proven to have met the requirements under the Essential Principles of Safety and Performance of Medical Devices that are adopted internationally. As for the listing system for traders (including local responsible person, local manufacturers, importers and distributors), traders must meet relevant requirements including holding a valid business registration certificate, maintaining a quality management system for supply of medical devices, and complying with post-market control for the products in order to hold them accountable for the safety of medical devices. Besides, a dedicated reporting system has been set up under the MDACS to handle the reporting of incidents pertaining to listed medical devices, with a view to enhancing protection for users via early detection of safety alerts.
     
         On the other hand, the C&ED is responsible for enforcing the CGSO and the TDO. The safety of consumer goods which are supplied for private use in Hong Kong, if not covered by other legislation, is subject to the regulation of the CGSO and its subsidiary legislation namely the Consumer Goods Safety Regulation (CGSR). This covers contact lenses as mentioned in the question.
     
         Pursuant to the CGSO, manufacturers, importers and suppliers should ensure that the consumer goods they supply are reasonably safe. The CGSR stipulates that any warning or caution marked on the package of consumer goods must be in both the English and the Chinese languages in a legible and conspicuous manner. Covering both goods and services, the TDO prohibits specified unfair trade practices deployed by traders against consumers, including false trade descriptions, misleading omissions, aggressive commercial practices, bait advertising, bait-and-switch and wrongly accepting payment, which are applicable to the commercial practices of both physical and online traders. 
     
         From 2022 to 2024, the C&ED did not receive any complaint on the product safety of contact lenses, but received six complaints of suspected contravention of the TDO. Upon investigation, five cases were closed due to insufficient evidence, with the remaining one under investigation. 
     
         Looking ahead, the DH has announced the establishment of the Hong Kong Centre for Medical Products Regulation (CMPR) by the end of 2026, with regulation of medical devices as part of its purview. The Government is taking forward preparatory work for the relevant legislation at full steam having regard to the latest international trends in regulation of medical devices in recent years, and will comprehensively review the proposed legislative framework. It is expected that the legislative proposal could be submitted to the Legislative Council within the next year so as to dovetail with the timetable for establishing the CMPR. Upon legislation, all medical devices supplied in Hong Kong, unless otherwise exempted, must be registered, thereby ensuring the compliance with relevant standards in safety, quality and performance. 
    Issued at HKT 15:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ9: Regulation of medical devices

    Source: Hong Kong Government special administrative region

    LCQ9: Regulation of medical devices 
    Question:
     
         At present, Hong Kong has only put in place a voluntary Medical Device Administrative Control System (the System), and there is no legislation to regulate such devices. On the other hand, it is learnt that some merchants are promoting and marketing parallel-imported contact lenses on the Internet, but these products do not have any medical device labelling on their packaging boxes, or the labelling shows signs of alteration (e.g. “the unique device identifier” has been cut off or covered), thus making it difficult to identify whether the products belong to problematic batches, and the quality of such products cannot be guaranteed. In this connection, will the Government inform this Council:
     
    (1) given that contact lenses is a class II medical device under the system, of the Government’s control over the importation and sale (including online sale) of contact lens products;
     
    (2) of the number of reports and requests for assistance received by the Government in the past three years in relation to parallel-imported contact lenses, as well as the categories of such cases (e.g. improper packaging labels, discomfort after use, etc.); whether it has taken law enforcement actions against merchants who have made unauthorised alterations to the packaging information of contact lenses (including parallel-imported contact lenses); if so, of the details; if not, the reasons for that; and
     
    (3) as the Government indicated in June last year that it was conducting a comprehensive review of the proposed legislative framework for medical device regulation, whether the Government will draw up a concrete timetable for introducing legislative amendments to regulate the manufacture, importation, quality assurance, sale and post-sale follow-up of medical devices; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         In consultation with the Commerce and Economic Development Bureau, the Customs and Excise Department (C&ED) and the Department of Health (DH), the Health Bureau provides a consolidated reply to the question raised by Dr the Hon David Lam as follows:
     
         While there is not yet specific legislation to regulate medical devices in Hong Kong, some products are already regulated by existing pieces of legislation, such as the Pharmacy and Poisons Ordinance (Cap. 138), the Consumer Goods Safety Ordinance (CGSO) (Cap. 456) and the Trade Descriptions Ordinance (TDO) (Cap. 362) etc., depending on the characteristics and features of the products concerned.
     
         To safeguard public health, the DH has made reference to the recommendation of the Global Harmonization Task Force (now known as the International Medical Device Regulators Forum) and introduced the voluntary Medical Device Administrative Control System (MDACS) since 2004, under which a listing system for medical devices and traders as well as a post-market monitoring system for the products are put in place.  
     
         According to the prevailing MDACS, contact lenses are usually categorised as Class II (low-moderate risk) general medical devices. To apply for listing under the MDACS, a medical device must be proven to have met the requirements under the Essential Principles of Safety and Performance of Medical Devices that are adopted internationally. As for the listing system for traders (including local responsible person, local manufacturers, importers and distributors), traders must meet relevant requirements including holding a valid business registration certificate, maintaining a quality management system for supply of medical devices, and complying with post-market control for the products in order to hold them accountable for the safety of medical devices. Besides, a dedicated reporting system has been set up under the MDACS to handle the reporting of incidents pertaining to listed medical devices, with a view to enhancing protection for users via early detection of safety alerts.
     
         On the other hand, the C&ED is responsible for enforcing the CGSO and the TDO. The safety of consumer goods which are supplied for private use in Hong Kong, if not covered by other legislation, is subject to the regulation of the CGSO and its subsidiary legislation namely the Consumer Goods Safety Regulation (CGSR). This covers contact lenses as mentioned in the question.
     
         Pursuant to the CGSO, manufacturers, importers and suppliers should ensure that the consumer goods they supply are reasonably safe. The CGSR stipulates that any warning or caution marked on the package of consumer goods must be in both the English and the Chinese languages in a legible and conspicuous manner. Covering both goods and services, the TDO prohibits specified unfair trade practices deployed by traders against consumers, including false trade descriptions, misleading omissions, aggressive commercial practices, bait advertising, bait-and-switch and wrongly accepting payment, which are applicable to the commercial practices of both physical and online traders. 
     
         From 2022 to 2024, the C&ED did not receive any complaint on the product safety of contact lenses, but received six complaints of suspected contravention of the TDO. Upon investigation, five cases were closed due to insufficient evidence, with the remaining one under investigation. 
     
         Looking ahead, the DH has announced the establishment of the Hong Kong Centre for Medical Products Regulation (CMPR) by the end of 2026, with regulation of medical devices as part of its purview. The Government is taking forward preparatory work for the relevant legislation at full steam having regard to the latest international trends in regulation of medical devices in recent years, and will comprehensively review the proposed legislative framework. It is expected that the legislative proposal could be submitted to the Legislative Council within the next year so as to dovetail with the timetable for establishing the CMPR. Upon legislation, all medical devices supplied in Hong Kong, unless otherwise exempted, must be registered, thereby ensuring the compliance with relevant standards in safety, quality and performance. 
    Issued at HKT 15:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ9: Regulation of medical devices

    Source: Hong Kong Government special administrative region

    LCQ9: Regulation of medical devices 
    Question:
     
         At present, Hong Kong has only put in place a voluntary Medical Device Administrative Control System (the System), and there is no legislation to regulate such devices. On the other hand, it is learnt that some merchants are promoting and marketing parallel-imported contact lenses on the Internet, but these products do not have any medical device labelling on their packaging boxes, or the labelling shows signs of alteration (e.g. “the unique device identifier” has been cut off or covered), thus making it difficult to identify whether the products belong to problematic batches, and the quality of such products cannot be guaranteed. In this connection, will the Government inform this Council:
     
    (1) given that contact lenses is a class II medical device under the system, of the Government’s control over the importation and sale (including online sale) of contact lens products;
     
    (2) of the number of reports and requests for assistance received by the Government in the past three years in relation to parallel-imported contact lenses, as well as the categories of such cases (e.g. improper packaging labels, discomfort after use, etc.); whether it has taken law enforcement actions against merchants who have made unauthorised alterations to the packaging information of contact lenses (including parallel-imported contact lenses); if so, of the details; if not, the reasons for that; and
     
    (3) as the Government indicated in June last year that it was conducting a comprehensive review of the proposed legislative framework for medical device regulation, whether the Government will draw up a concrete timetable for introducing legislative amendments to regulate the manufacture, importation, quality assurance, sale and post-sale follow-up of medical devices; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         In consultation with the Commerce and Economic Development Bureau, the Customs and Excise Department (C&ED) and the Department of Health (DH), the Health Bureau provides a consolidated reply to the question raised by Dr the Hon David Lam as follows:
     
         While there is not yet specific legislation to regulate medical devices in Hong Kong, some products are already regulated by existing pieces of legislation, such as the Pharmacy and Poisons Ordinance (Cap. 138), the Consumer Goods Safety Ordinance (CGSO) (Cap. 456) and the Trade Descriptions Ordinance (TDO) (Cap. 362) etc., depending on the characteristics and features of the products concerned.
     
         To safeguard public health, the DH has made reference to the recommendation of the Global Harmonization Task Force (now known as the International Medical Device Regulators Forum) and introduced the voluntary Medical Device Administrative Control System (MDACS) since 2004, under which a listing system for medical devices and traders as well as a post-market monitoring system for the products are put in place.  
     
         According to the prevailing MDACS, contact lenses are usually categorised as Class II (low-moderate risk) general medical devices. To apply for listing under the MDACS, a medical device must be proven to have met the requirements under the Essential Principles of Safety and Performance of Medical Devices that are adopted internationally. As for the listing system for traders (including local responsible person, local manufacturers, importers and distributors), traders must meet relevant requirements including holding a valid business registration certificate, maintaining a quality management system for supply of medical devices, and complying with post-market control for the products in order to hold them accountable for the safety of medical devices. Besides, a dedicated reporting system has been set up under the MDACS to handle the reporting of incidents pertaining to listed medical devices, with a view to enhancing protection for users via early detection of safety alerts.
     
         On the other hand, the C&ED is responsible for enforcing the CGSO and the TDO. The safety of consumer goods which are supplied for private use in Hong Kong, if not covered by other legislation, is subject to the regulation of the CGSO and its subsidiary legislation namely the Consumer Goods Safety Regulation (CGSR). This covers contact lenses as mentioned in the question.
     
         Pursuant to the CGSO, manufacturers, importers and suppliers should ensure that the consumer goods they supply are reasonably safe. The CGSR stipulates that any warning or caution marked on the package of consumer goods must be in both the English and the Chinese languages in a legible and conspicuous manner. Covering both goods and services, the TDO prohibits specified unfair trade practices deployed by traders against consumers, including false trade descriptions, misleading omissions, aggressive commercial practices, bait advertising, bait-and-switch and wrongly accepting payment, which are applicable to the commercial practices of both physical and online traders. 
     
         From 2022 to 2024, the C&ED did not receive any complaint on the product safety of contact lenses, but received six complaints of suspected contravention of the TDO. Upon investigation, five cases were closed due to insufficient evidence, with the remaining one under investigation. 
     
         Looking ahead, the DH has announced the establishment of the Hong Kong Centre for Medical Products Regulation (CMPR) by the end of 2026, with regulation of medical devices as part of its purview. The Government is taking forward preparatory work for the relevant legislation at full steam having regard to the latest international trends in regulation of medical devices in recent years, and will comprehensively review the proposed legislative framework. It is expected that the legislative proposal could be submitted to the Legislative Council within the next year so as to dovetail with the timetable for establishing the CMPR. Upon legislation, all medical devices supplied in Hong Kong, unless otherwise exempted, must be registered, thereby ensuring the compliance with relevant standards in safety, quality and performance. 
    Issued at HKT 15:30

    NNNN

    MIL OSI Asia Pacific News –

  • European heatwave caused 2,300 deaths, scientists estimate

    Source: Government of India

    Source: Government of India (4)

    Around 2,300 people died of heat-related causes across 12 European cities during the severe heatwave that ended last week, according to a rapid scientific analysis published on Wednesday.

    The study targeted the 10 days, ending July 2, during which large parts of Western Europe were hit by extreme heat, with temperatures breaching 40 degrees Celsius (104°F) in Spain and wildfires breaking out in France.

    Of the 2,300 people estimated to have died during this period, 1,500 deaths were linked to climate change, which made the heatwave more severe, according to the study conducted by scientists at Imperial College London and the London School of Hygiene and Tropical Medicine.

    “Climate change has made it significantly hotter than it would have been, which in turn makes it a lot more dangerous,” said Dr Ben Clarke, a researcher at Imperial College London.

    The study covered 12 cities including Barcelona, Madrid, London and Milan, where the researchers said climate change had increased heatwave temperatures by up to 4 degrees Celsius.

    The researchers used established epidemiological models and historical mortality data to estimate the death toll, which reflects deaths where heat was the underlying reason for mortality, including if exposure exacerbated pre-existing health conditions.

    The scientists said they used peer-reviewed methods to quickly produce the estimated death toll, because most heat-related deaths are not officially reported and some governments do not release this data.

    Last month was the planet’s third-hottest June on record, behind the same month in 2024 and 2023, the EU’s Copernicus Climate Change Service said in a monthly bulletin on Wednesday.

    Western Europe experienced its warmest June on record, with much of the region experiencing “very strong heat stress” – defined by conditions that feel like a temperature of 38 degrees Celsius or more, Copernicus said.

    “In a warming world, heatwaves are likely to become more frequent, more intense and impact more people across Europe,” said Samantha Burgess, Copernicus’ strategic lead for climate.

    Researchers from European health institutes reported in 2023 that as many as 61,000 people may have died in Europe’s sweltering heatwaves in 2022, according to new research, suggesting countries’ heat preparedness efforts are falling fatally short.

    The build-up of greenhouse gas emissions in the atmosphere – which mostly come from the burning of fossil fuels – means the planet’s average temperature has increased over time. This increase in baseline temperatures means that when a heatwave comes, temperatures can surge to higher peaks.

    (Reuters)

  • India set to explore over 2.5 lakh sq km in one of the largest offshore energy efforts

    Source: Government of India

    Source: Government of India (4)

    In one of the world’s largest offshore energy exploration initiatives, India is set to explore more than 2.5 lakh square kilometres under the Open Acreage Licensing Programme (OALP) Round X, Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Wednesday.

    “We are ready to enter a new era of energy… In the field of oil and gas exploration and production, there are no longer obstacles, only possibilities,” the minister said in a post on X.

    Hardeep Singh Puri is currently attending a meeting of the Offshore Energy Cluster in Bergen, Norway.

    “The bold decision taken by Prime Minister Narendra Modi on the ‘no-go’ area is not only strengthening the country’s energy security but also preparing India to lead a major transformation in the energy sector,” he added.

    The Union Minister also met Kristian Sorensen, CEO of BW LPG, the world’s leading owner and operator of LPG vessels, which owns and operates Very Large Gas Carriers (VLGCs) with a total carrying capacity of over 4 million CBM.

    “The company is among the leaders in LPG shipping, accounting for 20 per cent of LPG imports into India. During our meeting in Oslo, we discussed ways to further strengthen the collaboration between BW LPG and Indian energy companies,” Puri said.

    Meanwhile, the oil and gas blocks being offered under the OALP have already attracted interest from both global and domestic energy players. Round X is expected to set new benchmarks for participation and investment.

    The Petroleum Ministry has also invited feedback and suggestions on the Draft Petroleum and Natural Gas Rules, the Model Revenue Sharing Contract (MRSC), and the Petroleum Lease by July 17, 2025, as part of India’s push to accelerate the oil and gas sector.

    Hardeep Puri is scheduled to engage with ministers, officials and industry leaders at ‘Urja Varta 2025’ at Bharat Mandapam on July 17, ahead of India’s Round X of exploration and production bidding for oil and gas blocks, which is among the largest globally.

    —IANS

  • MIL-OSI: 21Shares Launches XDC Network ETP on Euronext

    Source: GlobeNewswire (MIL-OSI)

    New product offers regulated access to one of the most promising blockchain networks in global trade finance

    Zurich, 9 July 2025 – 21Shares, one of the world’s leading issuers of cryptocurrency exchange-traded products (ETPs), today announced the launch of the 21Shares XDC Network ETP (ticker: XDCN), now listed on Euronext Paris and Amsterdam. The physically backed ETP provides investors with institutional-grade access to the XDC Network, a blockchain purpose-built to modernise global trade through tokenisation and digitisation of real-world assets.

    Exchange Product Name Ticker ISIN Fee
    Euronext Paris and Euronext Amsterdam 21Shares XDC Network ETP XDCN CH1464217285 2.50%

    The XDC Network has rapidly emerged as a key infrastructure layer for trade finance and cross-border payments. Its integration with financial messaging standards such as SWIFT and ISO 20022 makes it a compelling choice for institutional adoption. Backed by strategic partnerships with industry players like Deutsche Telekom, SBI Japan, and Archax, the XDC ecosystem is bridging the gap between traditional finance and decentralised networks.

    “XDC stands at the intersection of blockchain innovation and real-world utility,” said Mandy Chiu, Head of Financial Product Development at 21Shares. “As global finance begins to embrace tokenised assets, we’re proud to offer investors a regulated way to gain exposure to this critical infrastructure.”

    “XDC Network is a fast, compliant settlement layer for global payments and tokenized real-world assets – and this ETP brings that vision to life,” said Ritesh Kakkad, Co-Founder of XDC Network. “This ETP launch represents a significant milestone in XDC Network’s journey toward mainstream institutional adoption,” said Ziv Keinan, Head of Markets and Partnerships at XDC Network. “By partnering with 21Shares to bring regulated exposure to European investors, we’re enabling traditional financial institutions to participate in the future of payment and trade finance infrastructure. This product validates XDC’s position as the blockchain of choice for real-world asset tokenization and cross-border payment solutions.”

    The 21Shares XDC Network ETP (ISIN: CH1464217285) is denominated in USD (Euronext Amsterdam) and EUR (Euronext Paris), with a management fee of 2.50%. It is fully collateralised by the underlying asset and held in institutional-grade cold storage.

    For more information, please visit: www.21shares.com

    Notes to editors

    About 21Shares

    21Shares is one of the world’s leading cryptocurrency exchange traded product providers and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions.

    21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com.

    Media Contact
    Matteo Valli
    matteo.valli@21shares.com

    About XDC Network
    XDC Network is an enterprise-grade, EVM-compatible Layer 1 blockchain protocol designed to revolutionize global trade finance through the tokenization of real-world assets and financial instruments. Since its origins in 2017, XDC Network has built a distributed community of developers and enterprises using its technology for efficient data storage, asset exchange, and decentralized applications. The network supports smart contracts, offers 2-second transaction finality, and maintains compatibility with Ethereum tools while delivering significantly lower costs and energy consumption.

    DISCLAIMER

    This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG in any jurisdiction. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever or for any other purpose in any jurisdiction. Nothing in this document should be considered investment advice.

    This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful.

    This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States. Neither the US Securities and Exchange Commission nor any securities regulatory authority of any state or other jurisdiction of the United States has approved or disapproved of an investment in the securities or passed on the accuracy or adequacy of the contents of this presentation. Any representation to the contrary is a criminal offence in the United States.

    Within the United Kingdom, this document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iii) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (iv) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

    Exclusively for potential investors in any EEA Member State that has implemented the Prospectus Regulation (EU) 2017/1129 the Issuer’s Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com.

    The approval of the Issuer’s Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the Issuer’s Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.

    This document constitutes advertisement within the meaning of the Prospectus Regulation (EU) 2017/1129 and the Swiss Financial Services Act (the “FinSA”) and not a prospectus. The 2024 Base Prospectus of 21Shares AG has been deposited pursuant to article 54(2) FinSA with BX Swiss AG in its function as Swiss prospectus review body within the meaning of article 52 FinSA. The 2024 Base Prospectus and the key information document for any products may be obtained at 21Shares AG’s website (https://21shares.com/ir/prospectus or https://21shares.com/ir/kids).

    ###

    The MIL Network –

  • MIL-OSI: 21Shares Launches XDC Network ETP on Euronext

    Source: GlobeNewswire (MIL-OSI)

    New product offers regulated access to one of the most promising blockchain networks in global trade finance

    Zurich, 9 July 2025 – 21Shares, one of the world’s leading issuers of cryptocurrency exchange-traded products (ETPs), today announced the launch of the 21Shares XDC Network ETP (ticker: XDCN), now listed on Euronext Paris and Amsterdam. The physically backed ETP provides investors with institutional-grade access to the XDC Network, a blockchain purpose-built to modernise global trade through tokenisation and digitisation of real-world assets.

    Exchange Product Name Ticker ISIN Fee
    Euronext Paris and Euronext Amsterdam 21Shares XDC Network ETP XDCN CH1464217285 2.50%

    The XDC Network has rapidly emerged as a key infrastructure layer for trade finance and cross-border payments. Its integration with financial messaging standards such as SWIFT and ISO 20022 makes it a compelling choice for institutional adoption. Backed by strategic partnerships with industry players like Deutsche Telekom, SBI Japan, and Archax, the XDC ecosystem is bridging the gap between traditional finance and decentralised networks.

    “XDC stands at the intersection of blockchain innovation and real-world utility,” said Mandy Chiu, Head of Financial Product Development at 21Shares. “As global finance begins to embrace tokenised assets, we’re proud to offer investors a regulated way to gain exposure to this critical infrastructure.”

    “XDC Network is a fast, compliant settlement layer for global payments and tokenized real-world assets – and this ETP brings that vision to life,” said Ritesh Kakkad, Co-Founder of XDC Network. “This ETP launch represents a significant milestone in XDC Network’s journey toward mainstream institutional adoption,” said Ziv Keinan, Head of Markets and Partnerships at XDC Network. “By partnering with 21Shares to bring regulated exposure to European investors, we’re enabling traditional financial institutions to participate in the future of payment and trade finance infrastructure. This product validates XDC’s position as the blockchain of choice for real-world asset tokenization and cross-border payment solutions.”

    The 21Shares XDC Network ETP (ISIN: CH1464217285) is denominated in USD (Euronext Amsterdam) and EUR (Euronext Paris), with a management fee of 2.50%. It is fully collateralised by the underlying asset and held in institutional-grade cold storage.

    For more information, please visit: www.21shares.com

    Notes to editors

    About 21Shares

    21Shares is one of the world’s leading cryptocurrency exchange traded product providers and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions.

    21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com.

    Media Contact
    Matteo Valli
    matteo.valli@21shares.com

    About XDC Network
    XDC Network is an enterprise-grade, EVM-compatible Layer 1 blockchain protocol designed to revolutionize global trade finance through the tokenization of real-world assets and financial instruments. Since its origins in 2017, XDC Network has built a distributed community of developers and enterprises using its technology for efficient data storage, asset exchange, and decentralized applications. The network supports smart contracts, offers 2-second transaction finality, and maintains compatibility with Ethereum tools while delivering significantly lower costs and energy consumption.

    DISCLAIMER

    This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG in any jurisdiction. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever or for any other purpose in any jurisdiction. Nothing in this document should be considered investment advice.

    This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful.

    This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States. Neither the US Securities and Exchange Commission nor any securities regulatory authority of any state or other jurisdiction of the United States has approved or disapproved of an investment in the securities or passed on the accuracy or adequacy of the contents of this presentation. Any representation to the contrary is a criminal offence in the United States.

    Within the United Kingdom, this document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iii) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (iv) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

    Exclusively for potential investors in any EEA Member State that has implemented the Prospectus Regulation (EU) 2017/1129 the Issuer’s Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com.

    The approval of the Issuer’s Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the Issuer’s Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.

    This document constitutes advertisement within the meaning of the Prospectus Regulation (EU) 2017/1129 and the Swiss Financial Services Act (the “FinSA”) and not a prospectus. The 2024 Base Prospectus of 21Shares AG has been deposited pursuant to article 54(2) FinSA with BX Swiss AG in its function as Swiss prospectus review body within the meaning of article 52 FinSA. The 2024 Base Prospectus and the key information document for any products may be obtained at 21Shares AG’s website (https://21shares.com/ir/prospectus or https://21shares.com/ir/kids).

    ###

    The MIL Network –

  • New deadlines for fuel ban on end-of-life vehicles in Delhi-NCR

    Source: Government of India

    Source: Government of India (4)

    The Commission for Air Quality Management (CAQM) on Tuesday extended the deadline for enforcement of its direction to deny fuel to End-of-Life (EoL) vehicles in Delhi-NCR. The decision was taken during the Commission’s 24th meeting, following concerns raised by the Delhi Government (GNCTD) regarding technological and operational challenges in its implementation.

    As per the amended clause of Statutory Direction No. 89, fuelling will be denied to EoL vehicles identified through Automated Number Plate Recognition (ANPR) systems or other mechanisms from November 1, 2025, in Delhi and five high vehicle density districts of NCR – Gurugram, Faridabad, Ghaziabad, Gautam Budh Nagar, and Sonipat. The directive will come into force across the rest of the NCR from April 1, 2026.

    GNCTD, in communications dated July 3 and July 7, 2025, flagged key issues, including incomplete integration of the ANPR system with neighbouring state databases, technical glitches, and enforcement difficulties. The state also raised legal concerns about geographic inconsistency under the Motor Vehicles Act, 1988, and highlighted potential hardships for vehicle owners.

    CAQM acknowledged these concerns and emphasized the need for a uniform enforcement timeline to prevent loopholes. The communications highlighted the lack of integration between the system and vehicle databases of neighbouring states, warning that this could lead to ‘fuel tourism’ and the emergence of an illegal cross-border fuel market, as vehicles denied fuel in Delhi may cross state borders to refuel.

    Authorities were also reminded that EoL vehicles, once deregistered, are illegal for road use in Delhi-NCR and must be impounded when identified.

    The Transport Departments of Delhi and NCR states have been instructed to expedite ANPR system trials, ensure personnel training, and launch awareness campaigns for fuel station operators and the public. Agencies must report progress on EoL vehicle removal to the Commission monthly.

    This amendment provides additional time to resolve implementation gaps while reinforcing the CAQM’s commitment to phasing out polluting vehicles in the region.

  • New deadlines for fuel ban on end-of-life vehicles in Delhi-NCR

    Source: Government of India

    Source: Government of India (4)

    The Commission for Air Quality Management (CAQM) on Tuesday extended the deadline for enforcement of its direction to deny fuel to End-of-Life (EoL) vehicles in Delhi-NCR. The decision was taken during the Commission’s 24th meeting, following concerns raised by the Delhi Government (GNCTD) regarding technological and operational challenges in its implementation.

    As per the amended clause of Statutory Direction No. 89, fuelling will be denied to EoL vehicles identified through Automated Number Plate Recognition (ANPR) systems or other mechanisms from November 1, 2025, in Delhi and five high vehicle density districts of NCR – Gurugram, Faridabad, Ghaziabad, Gautam Budh Nagar, and Sonipat. The directive will come into force across the rest of the NCR from April 1, 2026.

    GNCTD, in communications dated July 3 and July 7, 2025, flagged key issues, including incomplete integration of the ANPR system with neighbouring state databases, technical glitches, and enforcement difficulties. The state also raised legal concerns about geographic inconsistency under the Motor Vehicles Act, 1988, and highlighted potential hardships for vehicle owners.

    CAQM acknowledged these concerns and emphasized the need for a uniform enforcement timeline to prevent loopholes. The communications highlighted the lack of integration between the system and vehicle databases of neighbouring states, warning that this could lead to ‘fuel tourism’ and the emergence of an illegal cross-border fuel market, as vehicles denied fuel in Delhi may cross state borders to refuel.

    Authorities were also reminded that EoL vehicles, once deregistered, are illegal for road use in Delhi-NCR and must be impounded when identified.

    The Transport Departments of Delhi and NCR states have been instructed to expedite ANPR system trials, ensure personnel training, and launch awareness campaigns for fuel station operators and the public. Agencies must report progress on EoL vehicle removal to the Commission monthly.

    This amendment provides additional time to resolve implementation gaps while reinforcing the CAQM’s commitment to phasing out polluting vehicles in the region.

  • New deadlines for fuel ban on end-of-life vehicles in Delhi-NCR

    Source: Government of India

    Source: Government of India (4)

    The Commission for Air Quality Management (CAQM) on Tuesday extended the deadline for enforcement of its direction to deny fuel to End-of-Life (EoL) vehicles in Delhi-NCR. The decision was taken during the Commission’s 24th meeting, following concerns raised by the Delhi Government (GNCTD) regarding technological and operational challenges in its implementation.

    As per the amended clause of Statutory Direction No. 89, fuelling will be denied to EoL vehicles identified through Automated Number Plate Recognition (ANPR) systems or other mechanisms from November 1, 2025, in Delhi and five high vehicle density districts of NCR – Gurugram, Faridabad, Ghaziabad, Gautam Budh Nagar, and Sonipat. The directive will come into force across the rest of the NCR from April 1, 2026.

    GNCTD, in communications dated July 3 and July 7, 2025, flagged key issues, including incomplete integration of the ANPR system with neighbouring state databases, technical glitches, and enforcement difficulties. The state also raised legal concerns about geographic inconsistency under the Motor Vehicles Act, 1988, and highlighted potential hardships for vehicle owners.

    CAQM acknowledged these concerns and emphasized the need for a uniform enforcement timeline to prevent loopholes. The communications highlighted the lack of integration between the system and vehicle databases of neighbouring states, warning that this could lead to ‘fuel tourism’ and the emergence of an illegal cross-border fuel market, as vehicles denied fuel in Delhi may cross state borders to refuel.

    Authorities were also reminded that EoL vehicles, once deregistered, are illegal for road use in Delhi-NCR and must be impounded when identified.

    The Transport Departments of Delhi and NCR states have been instructed to expedite ANPR system trials, ensure personnel training, and launch awareness campaigns for fuel station operators and the public. Agencies must report progress on EoL vehicle removal to the Commission monthly.

    This amendment provides additional time to resolve implementation gaps while reinforcing the CAQM’s commitment to phasing out polluting vehicles in the region.

  • ICC issues arrest warrants for Taliban leaders over persecution of women

    Source: Government of India

    Source: Government of India (4)

    The International Criminal Court (ICC) on Tuesday issued arrest warrants for two Taliban leaders in Afghanistan including supreme spiritual leader Haibatullah Akhundzada, accusing them of the persecution of women and girls.

    The ICC said there were reasonable grounds to believe that Akhundzada and Abdul Hakim Haqqani, chief justice of the Taliban, had committed the crime against humanity of persecution on gender grounds against girls, women and other persons non-conforming with the Taliban’s policy on gender, gender identity or expression.

    Since the Islamist Taliban returned to power in 2021 it has clamped down on women’s rights, including limits to schooling, work and general independence in daily life.

    The Taliban condemned the warrants as an example of hostility towards Islam.

    “We neither recognise anything by the name of an international court nor do we consider ourselves bound by it,” the Taliban government’s spokesman, Zabihullah Mujahid, added in a statement.

    It is the first time judges of the ICC have issued a warrant on charges of gender persecution.

    “While the Taliban have imposed certain rules and prohibitions on the population as a whole, they have specifically targeted girls and women by reason of their gender, depriving them of fundamental rights and freedoms,” the court said.

    The full warrants and details on the specific incidents they are based on remain under seal to protect witnesses and victims, the court said.

    NGOs hailed the warrants and called on the international community to back the ICC’s work.

    “The international community should fully back the ICC in its critical work in Afghanistan and globally, including through concerted efforts to enforce the court’s warrants,” Human Rights Watch International Justice director Liz Evenson, said in a statement.

    The ICC has been under increased criticism from non-member states such as the United States, Israel and Russia.

    Last year the court issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for alleged war crimes and crimes against humanity during the Gaza conflict. The ICC also issued an arrest warrant for Russian President Vladimir Putin in 2023 on suspicion of deporting children from Ukraine.

    Neither Russia nor Israel is a member of the court and both deny the accusations and reject ICC jurisdiction.

    Last month the United States imposed sanctions on four ICC judges including two who were involved in a ruling that allowed prosecutors to open a formal investigation into war crimes and crimes against humanity in Afghanistan, including alleged crimes committed by American troops.

    The ICC said it was an attempt to undermine the independence of an international judicial institution that provides hope and justice to millions of victims.

    (Reuters)

  • National Fish Farmers Day 2025 to be celebrated in Bhubaneswar with launch of key fisheries initiatives

    Source: Government of India

    Source: Government of India (4)

    The Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry and Dairying (MoFAH&D), will celebrate National Fish Farmers Day 2025 on 10 July at the ICAR-Central Institute of Freshwater Aquaculture (CIFA) in Bhubaneswar.

    The occasion will be marked by the presence of Union Minister Rajiv Ranjan Singh, who also heads the Ministry of Panchayati Raj, along with Minister of State Prof. S.P. Singh Baghel and Minister of State George Kurian. Joining them will be Odisha’s Minister for Fisheries, Shri Gokulananda Mallick, to honour and support the contributions of fish farmers to the nation’s aquaculture and rural economy.

    National Fish Farmers Day is observed each year to honour the significant contributions of fish farmers, who play a crucial role in ensuring India’s food security, generating rural employment, and supporting the growth of a sustainable aquaculture sector. The day also pays tribute to the pioneering efforts of Professor Dr. Hiralal Chaudhury and Dr. K. H. Alikunhi, who, on this day in 1957, successfully demonstrated induced breeding in Indian Major Carps through the hypophysation technique—an innovation that revolutionized inland aquaculture in India.

    The celebration serves as a vital platform to recognize the contributions of fish farmers, entrepreneurs, and fishermen to the country’s fisheries sector. It encourages dialogue on sustainable fisheries management and the adoption of modern aquaculture techniques. Fish farmers have played a transformative role in advancing fish productivity, conserving aquatic resources, and meeting the growing demand for fish-based protein across the nation.

    The fisheries sector in India has seen remarkable progress in recent years. Since 2015, the Government of India has invested over ₹38,500 crore in the sector. As a result, national fish production has witnessed an impressive 104% increase, rising from 95.79 lakh tonnes in FY 2013-14 to 195 lakh tonnes in FY 2024-25. Inland fisheries and aquaculture alone have experienced 140% growth, underscoring the potential of India’s water resources and the impact of focused policy initiatives.

    India’s seafood exports have also seen tremendous success, crossing ₹60,500 crore mark and reaffirming the country’s global leadership in shrimp exports. Shrimp production has surged by 270% over the past decade, creating extensive employment opportunities and empowering fishing communities across the country.

    As part of the National Fish Farmers Day celebrations, the Hon’ble Union Minister will launch several key initiatives aimed at furthering the sector’s development. These include the announcement of new Fisheries Clusters, release of the ICAR training calendar, and the unveiling of guidelines on seed certification and hatchery operations to ensure quality control, standardization, and capacity building. Fisheries beneficiaries, including traditional fishers, cooperatives and Fish Farmers Producer Organizations (FFPOs), Kisan Credit Card holders, and emerging fisheries start-ups, will be felicitated during the event.

    In addition, virtual foundation stones will be laid and several PMMSY-supported fisheries projects will be inaugurated, reflecting the government’s commitment to infrastructure development, entrepreneurship, and inclusive growth in the sector. The Union Minister is also scheduled to deliver a keynote address, outlining sectoral progress and discussing new opportunities, best practices, and innovations in Indian fisheries.

  • National Fish Farmers Day 2025 to be celebrated in Bhubaneswar with launch of key fisheries initiatives

    Source: Government of India

    Source: Government of India (4)

    The Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry and Dairying (MoFAH&D), will celebrate National Fish Farmers Day 2025 on 10 July at the ICAR-Central Institute of Freshwater Aquaculture (CIFA) in Bhubaneswar.

    The occasion will be marked by the presence of Union Minister Rajiv Ranjan Singh, who also heads the Ministry of Panchayati Raj, along with Minister of State Prof. S.P. Singh Baghel and Minister of State George Kurian. Joining them will be Odisha’s Minister for Fisheries, Shri Gokulananda Mallick, to honour and support the contributions of fish farmers to the nation’s aquaculture and rural economy.

    National Fish Farmers Day is observed each year to honour the significant contributions of fish farmers, who play a crucial role in ensuring India’s food security, generating rural employment, and supporting the growth of a sustainable aquaculture sector. The day also pays tribute to the pioneering efforts of Professor Dr. Hiralal Chaudhury and Dr. K. H. Alikunhi, who, on this day in 1957, successfully demonstrated induced breeding in Indian Major Carps through the hypophysation technique—an innovation that revolutionized inland aquaculture in India.

    The celebration serves as a vital platform to recognize the contributions of fish farmers, entrepreneurs, and fishermen to the country’s fisheries sector. It encourages dialogue on sustainable fisheries management and the adoption of modern aquaculture techniques. Fish farmers have played a transformative role in advancing fish productivity, conserving aquatic resources, and meeting the growing demand for fish-based protein across the nation.

    The fisheries sector in India has seen remarkable progress in recent years. Since 2015, the Government of India has invested over ₹38,500 crore in the sector. As a result, national fish production has witnessed an impressive 104% increase, rising from 95.79 lakh tonnes in FY 2013-14 to 195 lakh tonnes in FY 2024-25. Inland fisheries and aquaculture alone have experienced 140% growth, underscoring the potential of India’s water resources and the impact of focused policy initiatives.

    India’s seafood exports have also seen tremendous success, crossing ₹60,500 crore mark and reaffirming the country’s global leadership in shrimp exports. Shrimp production has surged by 270% over the past decade, creating extensive employment opportunities and empowering fishing communities across the country.

    As part of the National Fish Farmers Day celebrations, the Hon’ble Union Minister will launch several key initiatives aimed at furthering the sector’s development. These include the announcement of new Fisheries Clusters, release of the ICAR training calendar, and the unveiling of guidelines on seed certification and hatchery operations to ensure quality control, standardization, and capacity building. Fisheries beneficiaries, including traditional fishers, cooperatives and Fish Farmers Producer Organizations (FFPOs), Kisan Credit Card holders, and emerging fisheries start-ups, will be felicitated during the event.

    In addition, virtual foundation stones will be laid and several PMMSY-supported fisheries projects will be inaugurated, reflecting the government’s commitment to infrastructure development, entrepreneurship, and inclusive growth in the sector. The Union Minister is also scheduled to deliver a keynote address, outlining sectoral progress and discussing new opportunities, best practices, and innovations in Indian fisheries.

  • National Fish Farmers Day 2025 to be celebrated in Bhubaneswar with launch of key fisheries initiatives

    Source: Government of India

    Source: Government of India (4)

    The Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry and Dairying (MoFAH&D), will celebrate National Fish Farmers Day 2025 on 10 July at the ICAR-Central Institute of Freshwater Aquaculture (CIFA) in Bhubaneswar.

    The occasion will be marked by the presence of Union Minister Rajiv Ranjan Singh, who also heads the Ministry of Panchayati Raj, along with Minister of State Prof. S.P. Singh Baghel and Minister of State George Kurian. Joining them will be Odisha’s Minister for Fisheries, Shri Gokulananda Mallick, to honour and support the contributions of fish farmers to the nation’s aquaculture and rural economy.

    National Fish Farmers Day is observed each year to honour the significant contributions of fish farmers, who play a crucial role in ensuring India’s food security, generating rural employment, and supporting the growth of a sustainable aquaculture sector. The day also pays tribute to the pioneering efforts of Professor Dr. Hiralal Chaudhury and Dr. K. H. Alikunhi, who, on this day in 1957, successfully demonstrated induced breeding in Indian Major Carps through the hypophysation technique—an innovation that revolutionized inland aquaculture in India.

    The celebration serves as a vital platform to recognize the contributions of fish farmers, entrepreneurs, and fishermen to the country’s fisheries sector. It encourages dialogue on sustainable fisheries management and the adoption of modern aquaculture techniques. Fish farmers have played a transformative role in advancing fish productivity, conserving aquatic resources, and meeting the growing demand for fish-based protein across the nation.

    The fisheries sector in India has seen remarkable progress in recent years. Since 2015, the Government of India has invested over ₹38,500 crore in the sector. As a result, national fish production has witnessed an impressive 104% increase, rising from 95.79 lakh tonnes in FY 2013-14 to 195 lakh tonnes in FY 2024-25. Inland fisheries and aquaculture alone have experienced 140% growth, underscoring the potential of India’s water resources and the impact of focused policy initiatives.

    India’s seafood exports have also seen tremendous success, crossing ₹60,500 crore mark and reaffirming the country’s global leadership in shrimp exports. Shrimp production has surged by 270% over the past decade, creating extensive employment opportunities and empowering fishing communities across the country.

    As part of the National Fish Farmers Day celebrations, the Hon’ble Union Minister will launch several key initiatives aimed at furthering the sector’s development. These include the announcement of new Fisheries Clusters, release of the ICAR training calendar, and the unveiling of guidelines on seed certification and hatchery operations to ensure quality control, standardization, and capacity building. Fisheries beneficiaries, including traditional fishers, cooperatives and Fish Farmers Producer Organizations (FFPOs), Kisan Credit Card holders, and emerging fisheries start-ups, will be felicitated during the event.

    In addition, virtual foundation stones will be laid and several PMMSY-supported fisheries projects will be inaugurated, reflecting the government’s commitment to infrastructure development, entrepreneurship, and inclusive growth in the sector. The Union Minister is also scheduled to deliver a keynote address, outlining sectoral progress and discussing new opportunities, best practices, and innovations in Indian fisheries.

  • Prime Minister Modi arrives in Namibia on final leg of five-nation tour

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi arrived in Windhoek, Namibia, on Wednesday morning, marking the first-ever visit by an Indian Prime Minister to Namibia in nearly three decades and only the third such visit from India to the southern African nation.

    PM Modi is in Namibia on a State visit at the invitation of President Netumbo Nandi-Ndaitwah. Upon his arrival at Hosea Kutako International Airport, the Prime Minister was accorded a ceremonial welcome and greeted by Namibia’s Minister of International Relations and Trade, Selma Ashipala-Musavyi. In a symbolic gesture reflecting cultural exchange, PM Modi also tried his hand at playing traditional Namibian drums at the airport.

    In a statement, the Ministry of External Affairs (MEA) said the Prime Minister’s visit underscores India’s “multi-faceted and deep-rooted historical ties with Namibia”. The visit marks the final leg of his five-nation tour, which included stops in Ghana, Trinidad and Tobago, Argentina, and Brazil.

    “During the visit, the Prime Minister will hold bilateral discussions with President Nandi-Ndaitwah. He will also pay homage to the Founding Father and first President of Namibia, the late Dr. Sam Nujoma, and is expected to address the Parliament of Namibia,” the MEA said.

    The Indian diaspora in Namibia has welcomed the Prime Minister’s visit with great enthusiasm. Members of the community are preparing to greet him with a traditional Garba dance. “We are thrilled that Prime Minister Modi has arrived in Namibia. We will present a Garba dance to welcome him,” said a member of the diaspora.

    In a post on X, PM Modi described Namibia as a “valued and trusted African partner” and said he looked forward to strengthening bilateral cooperation during his engagements.

    “Landed in Windhoek a short while ago. Namibia is a valued and trusted African partner with whom we seek to boost bilateral cooperation. Looking forward to meeting President Dr. Netumbo Nandi-Ndaitwah and addressing the Namibian Parliament today,” the Prime Minister said.

  • MIL-OSI: Start green smart cloud mining and easily earn Bitcoin income using the MintMiner app!

    Source: GlobeNewswire (MIL-OSI)

    London, United Kingdom, July 09, 2025 (GLOBE NEWSWIRE) — As the world pays more and more attention to clean energy and sustainable development, the traditional high-energy-consuming cryptocurrency mining model is facing transformation. Today, MintMiner is leading a “green computing revolution” by driving cloud mining systems with clean energy, combining mobile applications with multi-currency mining services, so that every user can easily participate in the steady appreciation of mainstream crypto assets such as Bitcoin with just a mobile phone.
    Driven by clean energy, creating a low-carbon and efficient cloud mining network
    All MintMiner cloud mining data centers are deployed in areas rich in renewable energy resources such as hydropower, wind power, and solar power, achieving 100% clean energy supply. This green mining model not only significantly reduces carbon emissions, but also significantly saves electricity costs, ensuring that users obtain stable and sustainable benefits from the source.
    A mobile phone, start smart mining at any time
    The MintMiner application provides users with a user-friendly interface that is flexible in operation. You can create your mining account for free by registering with your email address. The $15 newbie bonus allows you to start earning money right away, and you can log in every day to receive a $0.6 reward. The application provides an intuitive dashboard that supports real-time viewing of earnings, contract progress, and currency distribution, creating a transparent and traceable cloud mining experience.
    Multi-currency mining + flexible contracts, more controllable returns
    The platform currently supports mining services for mainstream cryptocurrencies, including: BTC (Bitcoin),ETC (Ethereum Classic), DOGE (Dogecoin), and LTC (Litecoin). Users can flexibly choose the type and term of computing power contracts based on market conditions, risk preferences, and budgets. Diversified asset allocation strategies bring investors a more stable passive income portfolio.

    Transparent settlement and free withdrawal, truly controlling your earnings
    MintMiner adopts a daily profit settlement mechanism. All profit details can be clearly viewed in the App. It supports one-click withdrawal requests, flexible funds and rapid arrival of funds, truly achieving account transparency, free withdrawals and user-friendly experience.
    Internationally certified platform, asset security is worry-free
    MintMiner is a world-leading cloud mining platform, founded in 2016 and headquartered in London, UK. It has invested in and built 108 large-scale mining farms and data centers in North America, Australia, and Northern Europe, serving more than 5 million users worldwide. It has obtained a number of international regulatory qualifications and financial services compliance licenses, and uses cold and hot wallet separation, multiple encryption verification, AI risk control models and other methods to fully protect user asset security.
    The invitation rebate system is online, making it easier to earn money while mining
    MintMiner has launched a multi-level invitation rebate program. Users can enjoy a lifetime computing power profit share by inviting friends to register. The more invitations, the higher the rebate, and the maximum bonus can reach 50,000 US dollars. The program has attracted thousands of users around the world to participate, forming a healthy growth community ecology.
    Company Vision and Mission
    Currently, MintMiner has attracted users from many countries and regions around the world to join the Green Cloud Mining Network. Choosing Green Cloud Mining is not only an investment in digital assets, but also a contribution to the sustainable development of the earth. We hope to help users achieve wealth growth while also building a brand image with a sense of social responsibility.
    A mobile phone, a green computing power, a way to earn Bitcoin. Download the MintMiner App now and start your green journey of digital assets.

    Official website: www.mintminer.com
    Email: info@mintminer.com

    Attachment

    The MIL Network –

  • MIL-OSI Asia-Pac: Government revises traffic-related fees and fixed penalties

    Source: Hong Kong Government special administrative region

    The Government announced today (July 9) a proposal to adjust four traffic-related fees, including tunnel tolls, licence fees for electric private cars, the maximum fee level of parking meters, and fixed penalties for traffic offences.

    The spokesperson for the Transport and Logistics Bureau said, “The 2025-26 Budget announced that the Government would focus on reviewing traffic charges and fixed penalties that have not been adjusted for many years. Our overall considerations are to enhance traffic management and maintain public fiscal discipline, reflecting the principles of ‘cost recovery’ and ‘user pays’.”

    To this end, the Government has formulated a total of four legislative amendments:

    (1) Road Tunnels (Government) (Amendment) (No. 2) Regulation 2025 – Adjustment of tunnel tolls

    Adopting a science-based approach, the Government has reviewed the tolls for government tunnels and major roads, in the order of priority, adhering to four charging principles: traffic management needs, efficiency first, public transport first, and “user-pays”. After comprehensively considering these four principles and the specific circumstances of each tunnel and major road, it has been decided to propose increasing the tolls for the Aberdeen Tunnel and Shing Mun Tunnels, and to introduce a toll for the use of the Central Kowloon Bypass. The new tolls for the Aberdeen Tunnel and Shing Mun Tunnels will be effective on September 21, 2025, while toll collection for the Central Kowloon Bypass will commence when it is fully commissioned in 2026. The toll scheme is summarised as follows:
     

      Current toll
    (Fixed toll for all vehicles throughout the day)    		 Proposed toll
    (Fixed toll for all vehicles throughout the day)
    Aberdeen Tunnel $5 $8
    Shing Mun Tunnels $5 $8
    Central Kowloon Bypass
    (Yau Ma Tei Section Tunnel)    		 / $8

    The spokesperson for the Transport and Logistics Bureau said, “The tolls for the Aberdeen Tunnel and Shing Mun Tunnels have not been adjusted for 34 years, during which time inflation has exceeded 130 per cent, resulting in operational deficits. The $8 toll is expected to have a minimal impact on traffic, and the adjusted tolls will enable the tunnels to achieve break-even in operations. On the other hand, the Central Kowloon Bypass will alleviate the current traffic congestion on major trunk roads in Kowloon, offering a shorter route with higher speeds, making it highly attractive to drivers. If no toll is charged for the use of the Central Kowloon Bypass, it is expected that its utilisation rate will approach a saturation point shortly after its commissioning. Taking into account the views of the Legislative Council (LegCo) Panel on Transport (TP) and the community, and in order to attract more motorists to use the bypass and hence achieve an effective traffic diversion, the Government is proposing an $8 toll. The proposed toll level will effectively divert approximately 20 per cent of the overall traffic from saturated major roads in Kowloon, while reserving about 15 per cent of spare capacity of the Central Kowloon Bypass to accommodate future traffic growth. It will also recover nearly 80 per cent of basic operational costs; and according to the efficiency-first principle, the fees payable by commercial and public transport vehicles will be consistent with the moderate toll charged for smaller private cars.”

    The spokesperson continued, “We have also reviewed other government tunnels and trunk roads in accordance with the four major principles. In summary, taking into account the traffic management needs and traffic flow of other government tunnels and trunk roads, the traffic flow of alternative routes, as well as future transport infrastructure projects related to each route, such as the commissioning of new alternative routes, we recommend maintaining the current tolling arrangements for the time being and reviewing them again at an appropriate time.”

    (2) Road Traffic (Registration and Licensing of Vehicles) (Amendment) (No. 4) Regulation 2025 – Rationalising the licence fee structure and levels for electric private cars

    The existing licence fees for electric private cars are charged by vehicle unladen weight, and the licence fees for fuel-propelled private cars are about six times more than that for electric private cars. The Government proposes to revise the annual licence fee structure for electric private cars by charging licence fees based on their rated power. A five-tier licence fee structure for electric private cars based on their rated power will be introduced, and the fee levels will be suitably adjusted, which would take five phases over six years to complete, to align with technological advancements and practices in other regions. The new licence fee structure will take effect from November 1, 2025, and will apply to newly registered electric private cars, while existing electric private cars will be granted a four-month grace period. Details are as follows:
     

    Rated power of electric private cars (kW) Annual licence fee ($)#*
    November 1, 2025, to
    February 28, 2027
    (with a 4-month grace period)    		 March 1, 2027, to
    February 29, 2028    		 March 1, 2028, to
    February 28, 2029    		 March 1, 2029, to
    February 28, 2030    		 March 1, 2030, onwards
    ≤ 75 1,500 1,750 2,000 2,500 3,000
    > 75 – 125 2,000 2,500 3,000 4,000 5,000
    > 125 – 175 2,500 3,500 4,500 5,500 7,000
    > 175 – 225 3,000 4,500 6,000 7,500 9,000
    > 225 5,000 6,500 8,000 9,500 11,000
    # Exclusive of the Traffic Accident Victims Assistance Fund levy (at $114 per vehicle annually).
    * The fee for a licence for four months is 35 per cent of that for an annual licence, plus an additional fee of $30.

    Licence fee concessions will be offered to eligible disabled electric private car owners (see note).

    The spokesperson for the Transport and Logistics Bureau said, “Taking into account the views of the LegCo TP, the adjustment of electric private cars licence fees will be implemented in five phases to provide the public with a longer adaptation period. Upon adjustments, the new annual licence fee levels for electric private cars will still be 25 per cent (fifth tier) to 40 per cent (first tier) lower than the current licence fees for fuel-propelled vehicles, to continue encouraging motorists to switch to electric vehicles and promote environmental protection. According to the current type distribution of licensed electric private cars, 99 per cent of the vehicles fall within the first, second and third tiers, while the proportions of vehicles in the fourth and fifth tiers are only 1 per cent and 0.1 per cent respectively. As electric vehicles become increasingly popular, with a wider range of brands and models available on the market, and given that electric vehicles have lower energy, repair and maintenance costs compared to fuel-propelled vehicles, we expect that electric vehicles will remain appealing to motorists even after the rationalisation of annual licence fee structure and levels.”

    (3) Road Traffic (Parking) (Amendment) Regulation 2025 – Adjustment of parking meter charges

    To optimise the use of limited parking resources, the Government proposes to increase the maximum fee for metered parking from $2 per 15 minutes to $4 per 15 minutes, viz. a maximum fee of $16 per hour to increase the turnover of vehicles using metered parking spaces to meet the short-term parking needs of motorists. The new charges for metered parking spaces will take effect from September 28, 2025. The fees for metered parking spaces for goods vehicles, buses and coaches will be maintained at the existing level.

    (4) Proposed Motion for Resolutions under the Fixed Penalty (Traffic Contraventions) Ordinance (Cap. 237) and the Fixed Penalty (Criminal Proceedings) Ordinance (Cap. 240) – Adjustment of fixed penalties for traffic offences

    To enhance traffic safety and ensure a smooth traffic flow, the Government proposes to increase the fixed penalty for illegal parking from the current $320 to $400 (a 25 per cent increase). The fixed penalties for 19 other traffic offences related to road safety and traffic congestion (details in the Annex) will be increased from the current range of $320 to $1,000 to a new range of $480 to $1,500 (a 50 per cent increase). The penalty amounts for other traffic offences will remain unchanged.

    The spokesperson for the Transport and Logistics Bureau said, “The fixed penalty levels for illegal parking and most of the traffic contraventions have remained unchanged for 31 years, and their deterrent effect may have been offset by inflation during this period. In fact, the fixed penalty levels of traffic contraventions in Hong Kong are much lower than those of various overseas regions. We have observed that the numbers of certain traffic offences continue to trend upwards or remain at a persistently high level. Adjusting the penalty amounts for these traffic offences will help enhance the deterrent effect, thereby safeguarding traffic safety and maintaining smooth traffic flow. At the same time, the Government will strive to increase the supply of parking spaces to meet parking demand as far as possible.”

    The Road Tunnels (Government) (Amendment) (No. 2) Regulation 2025, the Road Traffic (Registration and Licensing of Vehicles) (Amendment) (No. 4) Regulation 2025, and the Road Traffic (Parking) (Amendment) Regulation 2025 will be gazetted on July 18 and tabled at the LegCo on July 23 for negative vetting. As for the penalties for traffic violations under the Schedules to the Fixed Penalty (Traffic Contraventions) Ordinance (Cap. 237) and the Fixed Penalty (Criminal Proceedings) Ordinance (Cap. 240), the LegCo may amend them by resolution under positive vetting. The Secretary for Transport and Logistics will move a motion at the LegCo meeting on July 30 to pass the resolutions. The regulatory details and effective dates are specified in respective amendment regulations and the proposed resolutions, and relevant information is set out in the LegCo brief issued by the Government today.

    Note: No licence fee shall be payable where the rated power of an electric private car owned by an eligible disabled person does not exceed 75 kilowatts. Where the rated power of the electric private car exceeds 75 kilowatts, the annual licence fee payable shall be calculated by the deduction from the prescribed annual licence fee payable in respect of its rated power which does not exceed 75 kilowatts.

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: Ice baths are booming in popularity – but they come with health risks

    Source: The Conversation (Au and NZ) – By Samuel Cornell, PhD Candidate in Public Health & Community Medicine, School of Population Health, UNSW Sydney

    Michele Ursi/Getty Images

    Walk through any trendy suburb and you might find a new “wellness” studio offering ice baths or “contrast therapy” (a sauna and ice bath combo).

    Scroll social media, and you’re likely to come across influencers preaching the cold plunge gospel with cult-like zeal.

    Ice baths have gone mainstream. Initially practised mainly among high-performance athletes, cold water immersion is now a booming business model: sold as recovery, discipline and therapy all in one.

    But the benefits are questionable and, importantly, ice baths can have health risks – particularly for people who have limited experience using them.

    From Roman times to today

    Cold water immersion isn’t a new concept.

    The “frigidarium” – a room with a cold plunge pool or bath – was a feature in most Roman bathhouses.

    For decades, athletes have used cold water immersion, such as swims in cold water, for recovery.

    But in recent years, with the proliferation of commercial cold plunge centres, there’s been an explosion in people using ice baths recreationally.

    Many people are even setting up their own ice baths at home. The global cold plunge tub market was valued at close to US$338 million in 2024 and is projected to reach nearly $483 million by 2033.

    Social media shows serene influencers meditating through the pain, claiming it boosts mental health, serotonin, testosterone, and their metabolism. But does the evidence stack up?

    Ice baths can reduce muscle soreness after intense training, however the effect is modest and short-lived.

    Some research shows cold water immersion can improve mood after a single exposure in young, healthy people, but other research doesn’t find these benefits.

    Most claims about mental health, testosterone and weight loss aren’t backed by strong evidence. Rather, they’re anecdotal and amplified by influencers.



    Read more:
    Cold water therapy: what are the benefits and dangers of ice baths, wild swimming and freezing showers?

    What does an ice bath involve?

    At commercial establishments, patrons can often use the ice baths as they please during a booked session. Ice bath temperatures often range anywhere from 3°C to 15°C. There normally isn’t actual ice in the bath, but some people add blocks of ice to their ice baths at home.

    Businesses offering ice baths don’t always actively supervise patrons or monitor a person’s time in the ice bath. They may leave their customers to self-regulate, assuming people will know to get out of the water before they pass their body’s limits.

    So what are the risks?

    Cold water immersion triggers a powerful physiological response. When you hit cold water below 15°C, your body launches into cold shock. Gasping occurs and breathing becomes rapid and uncontrollable. Heart rate spikes. Blood pressure rises.

    Staying in the water for too long can lead to hypothermia, a condition where a person’s core body temperature drops dangerously low.

    Shivering may begin within minutes in cold water. Confusion or fainting are more serious signs that hypothermia may be developing.

    Occasionally, this “cold shock” response can lead to a heart attack or stroke – especially if you have an undiagnosed condition affecting your heart, blood vessels or brain.

    As far back as 1969, researchers found even experienced swimmers could struggle after just a few minutes in cold water. Participants were immersed in water at 4.7°C while fully clothed and asked to swim as if trying to reach safety. Some developed serious respiratory distress and had to stop swimming within as little as 90 seconds, well before any measurable drop in core body temperature.

    Even after you get out, your core temperature can continue to fall – a phenomenon known as afterdrop. So you can encounter problems, such as collapse, even after leaving the water.

    And even young, healthy people can be caught off guard. The body isn’t designed to endure freezing water for extended periods.

    Recently one of us (Sam Cornell) had to provide first aid at an ice bath venue in Sydney. A young man collapsed after staying in an ice bath for ten minutes. He was shivering uncontrollably and clearly suffering from cold shock.

    Cold exposure can also cause long-term damage to nerves and blood vessels in the hands and feet, known as non-freezing cold injury. This is more likely if someone spends an extended period immersed in cold water. Symptoms such as numbness, pain and sensitivity to cold can persist for years.

    6 tips for safer recreational ice bath use

    The ice bath trend is part of a broader wellness movement, promoted to young men in particular, where discomfort is repackaged as discipline. Push through the pain. Master your body. If you feel terrible, you must be doing it right.

    But behind the hype lies a less appealing truth. Ice baths can be dangerous.

    We advise caution, but if you do choose to try an ice bath, treat it seriously and follow these tips to reduce the risk of harm.

    1. Talk to your doctor: get checked out first. If you or your family have any heart, stroke or respiratory risk, skip it

    2. Know your limits: being fit doesn’t protect you from cold shock

    3. Start gradually: begin with short warm to cold showers before full immersion

    4. Never go alone: always have someone with you, especially if you’re new to ice baths

    5. Keep it short and watch the temperature: limit sessions to 3–5 minutes and remember, problems can still occur after you get out

    6. Recognise the signs of danger: symptoms such as shivering, numbness and confusion can all seem like part of the experience to someone bent on pushing themselves. But these can be signs of hypothermia.

    Samuel Cornell receives funding from Meta Platforms, Inc. His research is supported by a University of New South Wales Sydney, University Postgraduate Award. His research is supported by Royal Life Saving Society – Australia to aid in the prevention of drowning. Research at Royal Life Saving Society – Australia is supported by the Australian government. He has been affiliated with Surf Life Saving Australia and Surf Life Saving NSW in a paid and voluntary capacity.

    Michael Tipton has previously received funding from organisations working in drowning prevention and water safety. He is Chair of the UK National Water Safety Forum, hosted by the Royal Society for the Prevention of Accidents (RoSPA), and a member of Council of the Royal National Lifeboat Institution (RNLI).

    – ref. Ice baths are booming in popularity – but they come with health risks – https://theconversation.com/ice-baths-are-booming-in-popularity-but-they-come-with-health-risks-260206

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: LCQ17: Combating online investment scams

    Source: Hong Kong Government special administrative region

         Following is a question by Professor the Hon Priscilla Leung and a written reply by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the Legislative Council today (July 9):

    Question:

         According to the data provided by the Government in its reply to a question raised by a Member of this Council in June this year, the Police recorded a total of 1 534 cases of online investment scams involving an amount of about $1.02 billion in the first four months of this year. In this connection, will the Government inform this Council:

    (1) given that the Securities and Futures Commission (SFC) has launched anti-scam publicity and education programmes targeting three common investment scam scenarios, whether the Government has formulated specific measures to support SFC’s anti-scam publicity programmes, so as to raise public vigilance against investment scams; if so, of the details; if not, the reasons for that;

    (2) whether it has plans to strengthen its co-operation with the SFC to update and enhance investor education, so as to ensure that investors can effectively identify and guard against emerging investment risks as well as evolving fraudulent practices and technologies; and

    (3) whether it has devised further strategies or allocated additional resources to extend the impact of the “Don’t be Sucker” anti-scam publicity campaign launched by the SFC, so as to enable more investors to benefit from the campaign and avoid becoming victims of online investment scams; if so, of the details; if not, the reasons for that?

    Reply:

    President,

         The Government attaches great importance to investor education, and is committed to supporting the Securities and Futures Commission (SFC) and its subsidiary, the Investor and Financial Education Council (IFEC), in enhancing the financial literacy of the public through various means and channels. In consultation with the Security Bureau, the SFC and the Hong Kong Monetary Authority (HKMA), my reply to the various parts of the question is as follows.

    (1) and (2) In the first five months of 2025, there were 1 849 cases of online investment scams recorded by the Police, involving about $1.24 billion. The Government accords high priority to investor protection, and strives to combat online investment scams through two main directions, namely promotion and enforcement.

         On promotion, the Government, together with the SFC and the IFEC, has been striving to enhance investors’ anti-financial scam capabilities, raise the public’s knowledge in relevant financial products, and remind investors of the risks associated with digital finance.

         In March 2025, the IFEC in collaboration with various stakeholders organised the “Hong Kong Money Month” with the theme of “Guard against Fraud Thrive with Resilience” to comprehensively promote anti-scam messages by publicising anti-scam information targeting different segments of the community through cross-media promotion. The promotion videos recorded a total of 20.6 million views during the promotion period. In the face of ever-changing technology and evolving fraud tactics, the IFEC has also introduced various anti-financial scam education resources, animated videos, online seminars, etc to educate the public on safeguarding against investment scams including “ramp and dump” schemes, social media investment groups, fraudulent trading apps or investment platforms, impersonation scams, deepfake technology and phishing messages, etc. The IFEC website also features fraud prevention online games and an anti-scam online quiz, enabling the public to gain anti-scam knowledge through engaging and interactive games.

         The IFEC launched Hong Kong’s first digital financial education experiential learning centre, the IFEC FinEd Hub, in March 2024 to offer investment and anti-scam education to a wider audience through immersive and interactive learning experiences. The FinEd Hub features various interactive anti-scam games for visitors to learn how to identify and respond to various financial scams. As of end-June 2025, the FinEd Hub has recorded over 26 500 visits, with the vast majority of visitors indicating that their visit had enhanced their anti-scam knowledge.

         On the other hand, the HKMA has introduced “Money Safe” with banks to provide an extra layer of security to customers’ bank deposits. “Money Safe” enables customers to segregate a portion of their deposits maintained at banks, protecting them from fund outflows through online and other channels. When releasing the protected deposits, customers would need to undertake extra verification process by staff at bank branches. All retail banks will fully implement “Money Safe” by the end of this year.

         As regards enforcement actions against online investment scams, given that most fraud cases in Hong Kong currently involve the use of stooge accounts for receiving funds, targeting such accounts is an effective way to disrupt the fraud value chain. In the first five months of 2025, the Police arrested a total of 3 028 persons in connection with various fraud and money laundering offences, about 70 per cent of whom were holders of stooge accounts. Since the end of 2023, the Police have also applied to the courts to invoke section 27 of the Organized and Serious Crimes Ordinance (Cap. 455) to seek enhanced penalties for cases involving stooge accounts, so as to strengthen deterrence. There have been cases where convicted stooge account holders received sentences increased by more than 30 per cent.

         The Hong Kong Police Force, together with the police authorities of the Macao Special Administrative Region, Malaysia, Maldives, Singapore, South Korea, and Thailand, has also conducted the first joint operation under the anti-fraud cross-boundary co-operation platform “FRONTIER+” to jointly combat cross-boundary fraud criminal activity. The operation successfully identified and dismantled multiple cross-boundary fraud syndicates, resulting in the arrest of 1 858 persons and involving 9 268 fraud cases, including investment fraud. In addition, noting the increase in online investment scams at the beginning of 2025, the Hong Kong Police have, over the past few months, held press conferences from time to time and stepped up publicity through various channels to remind the public to remain vigilant.

    (3) The SFC launched a new anti-scam campaign “Don’t be Sucker” in December 2024 to caution the public against common tactics used in fraudulent schemes. An original cartoon character “Shui Yu”, symbolising an impulsive and gullible personality that easily fall prey to investment scams, debuted in the campaign.

         Complementing the SFC’s focused promotion of three common scams that the public should avoid (namely online romance scams, impersonation, and deceptive tips from financial influencers), the SFC has rolled out an original campaign theme song and a music video featuring “Shui Yu”, which has recorded over one million views within about three months since its launch. As of end-June 2025, the SFC has published about 50 posts on the social media platform of “Shui Yu”, which has attracted more than 1 500 followers and over 423 000 views by unique users.

         To further promote anti-scam messages through “Shui Yu”, the SFC has produced “Shui Yu”-themed messaging app stickers to spread anti-scam messages in a light-hearted way. Apart from various online and offline advertisements, the SFC extended the “Don’t be Sucker” anti-scam publicity campaign through MTR station commercials and a TV infotainment programme in May to June 2025, garnering more than 1.6 million views in estimate.

         In fact, the Government has been proactively enhancing public awareness of various kinds of scams. The Police have set up the Anti-Deception Coordination Centre since July 2017 to consolidate the efforts of the Police in combating and preventing scams, and have introduced various initiatives including the 24-hour enquiry hotline “Anti-Scam Helpline 18222”, and the “Upstream Scam Intervention” scheme to actively identify potential scam victims.

         In addition, the Police have introduced an anti-scam mascot “The Little Grape” since June 2020 to explain the latest tactics of scammers and disseminate simple anti-scam messages in a friendly and interactive manner. Various “The Little Grape” anti-scam promotional campaigns have also been organised over the past five years. Thanks to these initiatives and the collective efforts of the community, the annual growth rate of scam cases has significantly decelerated from nearly 90 per cent in 2020 to 11.7 per cent last year, indicating a rise in public awareness of scam prevention.

         Going forward, the Government will continue to support relevant organisations and stakeholders in collaboratively launching targeted promotion activities to raise the anti-scam awareness of the public.

    MIL OSI Asia Pacific News –