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Category: Asia Pacific

  • MIL-OSI Analysis: Why energy markets fluctuate during an international crisis

    Source: The Conversation – USA – By Skip York, Nonresident Fellow in Energy and Global Oil, Baker Institute for Public Policy, Rice University

    Stock and commodities traders found themselves dealing with various price swings as energy markets responded to Israeli and U.S. attacks on Iran. Timothy A. Clary/AFP via Getty Imagesf

    Global energy markets, such as those for oil, gas and coal, tend to be sensitive to a wide range of world events – especially when there is some sort of crisis. Having worked in the energy industry for over 30 years, I’ve seen how war, political instability, pandemics and economic sanctions can significantly disrupt energy markets and impede them from functioning efficiently.

    A look at the basics

    First, consider the economic fundamentals of supply and demand. The risk most people imagine in the current crisis between Israel, the U.S. and Iran is that Iran, which is itself a major oil-producing country, might suddenly expand the conflict by threatening the ability of neighboring countries to supply oil to the world.

    Oil wells, refineries, pipelines and shipping lanes are the backbone of energy markets. They can be vulnerable during a crisis: Whether there is deliberate sabotage or collateral damage from military action, energy infrastructure often takes a hit.

    For instance, after Saddam Hussein invaded Kuwait in August 1990, Iraqi forces placed explosive charges on Kuwaiti oil wells and began detonating them in January 1991. It took months for all the resulting fires to be put out, and millions of barrels of oil and hundreds of millions of cubic meters of natural gas were released into the environment – rather than being sold and used productively somewhere around the world.

    Scenes of Kuwaiti life during and after the Gulf War of 1990 and 1991 include images of oil wells burning as a result of Iraqi sabotage.

    Logistics can mess markets up too. For instance, closing critical maritime routes like the Strait of Hormuz or the Suez Canal can cause transportation delays.

    Whether supply is lost from decreased production or blocked transportation routes, the effect is less oil available to the market, which not only causes prices to rise in general, but it also makes them more volatile – tending to change more frequently and by larger amounts.

    On the flip side, demand can also shift radically. During the 1990-1991 Gulf War, demand rose: U.S. forces alone used more than 2 billion gallons of fuel, according to an Army analysis. By contrast, during the COVID-19 pandemic, industries shut down, travel came to a halt and energy demand plummeted.

    When crisis looms, countries and companies often start stockpiling oil and other raw materials rather than buying only what they need right now. That creates even more imbalance, resulting in price volatility that leaves everyone, both consumers and producers, with a headache.

    Regional considerations

    In addition to uncertainties around market fundamentals, it’s important to note that many of the world’s energy reserves are located in regions that have not been models of stability. In the Middle East, wars, revolutions and diplomatic disputes there can raise concerns about supply, demand or both.

    Those worries send shock waves through the world’s energy markets. It’s like walking on a tightrope: One wrong move – or even the perception of a misstep – can make the market wobble.

    Governments’ economic sanctions, such as those restricting trade with Iran, Russia or Venezuela, can distort production and investment decisions and disrupt trade flows. Sometimes markets react even before sanctions are officially in place: Just the rumor of a possible embargo can cause prices to spike as buyers scramble to secure resources.

    In 2008, for example, India and Vietnam imposed rice export bans, and rumors of additional restrictions fueled panic buying and nearly doubled prices in months.

    In those scrambles, the role of investor speculation enters the picture. Energy commodities, such as oil and gas, aren’t just physical resources; they’re also traded as financial assets like stocks and bonds. During uncertain times, traders don’t wait around for actual changes in supply and demand. They react to news and forecasts, sometimes in large groups, which can shift the market just with the actions that result from their fears or hopes.

    The events on June 22, 2025, are a good example of how this dynamic works. The Iranian parliament passed a resolution authorizing the country’s Supreme Council to close the Strait of Hormuz. Immediately, oil prices started rising, even though the strait was still open, with oil tankers steaming through unimpeded.

    The next day, Iran launched a missile strike on Qatar, but coordinated in advance with Qatari officials to minimize damage and casualties. Traders and analysts perceived the action as a de-escalatory signal and anticipated that the Supreme Council was not going to close the strait. So prices started to fall.

    It was a price roller coaster, fueled by speculation rather than reality. And computer algorithms and artificial intelligence, which assist in making automated trades, only add to the chaos of price changes.

    Shipping activity in the Persian Gulf and the Strait of Hormuz decreased after Israel’s attacks on Iranian nuclear facilities.

    A broader look

    International crises can also cause wider changes in countries’ economies – or the global economy as a whole – which in turn affect the energy market.

    If a crisis sparks a recession, rising inflation or high unemployment, those tend to cause people and businesses to use less energy. When the underlying situation stabilizes, recovery efforts can mean energy consumption resumes. But it’s like a pendulum swinging back and forth, with energy markets caught in the middle.

    Renewable energy is not immune to international crisis and chaos. The supply is less affected by market forces: The amount of available sunlight and wind isn’t tied to geopolitical relations. But overall economic conditions still affect demand, and a crisis can disrupt the supply chains for the equipment needed to harness renewable energy, like solar panels and wind turbines.

    It’s no wonder energy markets are so jittery during international crises. A mix of imbalances between supply and demand, vulnerable infrastructure, political tensions, corporate worries and speculative trading all weave together into a complex web of volatility.

    For policymakers, investors and consumers, understanding these dynamics is key to navigating the ups and downs of energy markets in a crisis-prone world. The solutions aren’t simple, but being informed is the first step toward stability.

    Skip York is a nonresident fellow for Global Oil and Energy with the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. He also is the Chief Energy Strategist at Turner Mason & Company, an energy consulting firm.

    – ref. Why energy markets fluctuate during an international crisis – https://theconversation.com/why-energy-markets-fluctuate-during-an-international-crisis-259839

    MIL OSI Analysis –

  • MIL-OSI Analysis: How Zohran Mamdani’s win in the New York City mayoral primary could ripple across the country

    Source: The Conversation – USA – By Lincoln Mitchell, Lecturer, School of International and Public Affairs, Columbia University

    New York mayoral candidate Zohran Mamdani speaks to supporters in Brooklyn on May 4, 2025. Madison Swart/Hans Lucas/AFP via Getty Images

    Top Republicans and Democrats alike are talking about the sudden rise of 33-year-old Zohran Mamdani, a state representative who won the Democratic mayoral primary in New York on June 24, 2025, in a surprising victory over more established politicians.

    While President Donald Trump quickly came out swinging with personal attacks against Mamdani, some establishment Democratic politicians say they are concerned about how the democratic socialist’s progressive politics could harm the broader Democratic Party and cause it to lose more centrist voters.

    New York is a unique American city, with a diverse population and historically liberal politics. So, does a primary mayoral election in New York serve as any kind of harbinger of what could come in the rest of the country?

    Amy Lieberman, a politics and society editor at The Conversation U.S., spoke with Lincoln Mitchell, a political strategy and campaign specialist who lectures at Columbia University, to understand what Mamdani’s primary win might indicate about the direction of national politics.

    New York mayoral candidate Zohran Mamdani, center, greets voters with New York Comptroller Brad Lander, right, on the Upper West Side on June 24, 2025.
    Michael M. Santiago/Getty Images

    Does Mamdani’s primary win offer any indication of how the Democratic Party might be transforming on a national level?

    Mamdani’s win is clearly a rebuke of the more corporate wing of the Democratic Party. I know there are people who say that New York is different from the rest of the country. But from a political perspective, Democrats in New York are less different from Democrats in the rest of country than they used to be.

    That’s because the rest of America is so much more diverse than it used to be. But if you look at progressive politicians now in the House of Representatives and state legislatures, they are being elected from all over – not just in big cities like New York anymore.

    Andrew Cuomo, the former governor of New York, ran an absolutely terrible mayoral campaign. He tried to build a political coalition that is no longer a winning one, which was made up of majorities of African Americans, outer-borough white New Yorkers and orthodox and conservative Jews. Thirty or 40 years ago, that was a powerful coalition. Today, it could not make up a majority.

    Mamdani visualized and created what a 2025 progressive coalition looks like in New York and recognized that it is going to look different than the past. Mamdani’s coalition was based around young, white people – many of them with college degrees who are worried about affordability – ideological lefties and immigrants from parts of the Global South, including the Caribbean and parts of Africa, South Asia and South America.

    When you say a new kind of political coalition, what policy priorities bring Mamdani’s supporters together?

    Mamdani reframed what I would call redistributive economic policies that have long been central to the progressive agenda. A pillar of his campaign is affordability – a brilliant piece of political marketing because who is against affordability? He came up with some affordability-related policies that got enough buzz, like promising free buses. Free buses are great, but it won’t help most working and poor New Yorkers get to work – they take the subway.

    He has been very critical of Israel and has weathered charges of antisemitism.

    In the older New York, progressive politicians such as the late Congressman Charlie Rangel were very hawkish on Israel.

    What Mamdani understood is that in today’s America, the progressive wing of the Democratic Party does not care if somebody is, sounds like or comes close to being antisemitic. For those people, calling someone antisemitic sounds Trumpy, and they understand it as a right-wing hit, rather than the legitimate expression of concerns from Jewish people. Some liberals think that claims of antisemitism are simply something done just by those on the right to damage or discredit progressive politicians, but antisemitism is real.

    Therefore, Mamdani’s record on the Jewish issue did not hurt him in the campaign, but he needs to build bridges to Jewish voters, or he will not be able to govern New York City.

    How else did Mamdani appeal to a base of supporters?

    He got the support of “limousine liberals” – including rich, high-profile, progressive people. His supporters include Ella Emhoff, a model and the stepdaughter of Kamala Harris, and the actress Cynthia Nixon, but there were many others. Supporting Mamdani became stylish – almost de rigueur – among certain segments of affluent New York.

    Mamdani is also a true New Yorker and the voice of a new kind of immigrant. His parents are from Uganda and India. But he is also the child of extreme privilege – his mother, Mira Nair, is a well-known filmmaker, and his father is an accomplished professor. Mamdani went to top schools in New York and knows how to play in elite circles, and with white people. He is a Muslim man whose roots are in the Global South, not threatening because he knows how to speak their language.

    But to people of color and immigrants, Mamdani is also one of them. Because of Mamdani’s interesting background, he brought the limousine liberals together with the aunties from Bangladesh.

    Finally, on the charisma scale, Mamdani was so far ahead of other Democratic candidates. Who is going to make better TikTok videos – the good-looking, young man whose mother is a world-famous movie producer, or the older guy who is a loving father and husband but gives off dependable dad, rather than hip young guy, vibes?

    People arrive to vote in the New York mayoral primary in Brooklyn on June 24, 2025.
    Spencer Platt/Getty Images

    Is New York City so distinct that you cannot compare politics there to what happens nationwide?

    I think that nationwide or at the state level there is a potential for something similar to a Mamdani coalition, but not a Mamdani coalition exactly. But in a place like Oklahoma, there are people who are in bad economic shape and who will also respond positively to an affordability-focused, Democratic political campaign. Mamdani remade a progressive New York coalition for this moment. Other progressives politicians should copy the spirit of that and reimagine a winning coalition in their city, state or district.

    When Trump was campaigning, he focused at least on making groceries cheaper. Mamdani is one of the few Democrats who took the affordability issue back from Trump and addressed it head on and in a much more honest and relevant way. Trump has the phrase, “Make America Great Again!” That’s a popular slogan on baseball caps for Trump supporters.

    If Mamdani wanted to make a baseball cap, he could just print “Affordability” on it. Boom.

    Other Democratic politicians can take that approach of affordability and reframe it in a way that works in Kansas City or elsewhere.

    Lincoln Mitchell supported Brad Lander in the primary election.

    – ref. How Zohran Mamdani’s win in the New York City mayoral primary could ripple across the country – https://theconversation.com/how-zohran-mamdanis-win-in-the-new-york-city-mayoral-primary-could-ripple-across-the-country-259951

    MIL OSI Analysis –

  • MIL-OSI Analysis: Cascading disasters like those created by Hurricane Helene show why hazard models can’t rely on the past

    Source: The Conversation – USA – By Brian J. Yanites, Associate Professor of Earth and Atmospheric Science. Professor of Surficial and Sedimentary Geology, Indiana University

    The Carter Lodge hangs precariously over the flood-scoured bank of the Broad River in Chimney Rock Village, N.C., on May 13, 2025, eight months after Hurricane Helene. AP Photo/Allen G. Breed

    Hurricane Helene lasted only a few days in September 2024, but it altered the landscape of the Southeastern U.S. in profound ways that will affect the hazards local residents face far into the future.

    Mudslides buried roads and reshaped river channels. Uprooted trees left soil on hillslopes exposed to the elements. Sediment that washed into rivers changed how water flows through the landscape, leaving some areas more prone to flooding and erosion.

    Helene was a powerful reminder that natural hazards don’t disappear when the skies clear – they evolve.

    These transformations are part of what scientists call cascading hazards. They occur when one natural event alters the landscape in ways that lead to future hazards. A landslide triggered by a storm might clog a river, leading to downstream flooding months or years later. A wildfire can alter the soil and vegetation, setting the stage for debris flows with the next rainstorm.

    Satellite images before (top) and after Hurricane Helene (bottom) show how the storm altered landscape near Pensacola, N.C., in the Blue Ridge Mountains.
    Google Earth, CC BY

    I study these disasters as a geomorphologist. In a new paper in the journal Science, I and a team of scientists from 18 universities and the U.S. Geological Survey explain why hazard models – used to help communities prepare for disasters – can’t just rely on the past. Instead, they need to be nimble enough to forecast how hazards evolve in real time.

    The science behind cascading hazards

    Cascading hazards aren’t random. They emerge from physical processes that operate continuously across the landscape – sediment movement, weathering, erosion. Together, the atmosphere, biosphere and the earth are constantly reshaping the conditions that cause natural disasters.

    For instance, earthquakes fracture rock and shake loose soil. Even if landslides don’t occur during the quake itself, the ground may be weakened, leaving it primed for failure during later rainstorms.

    That’s exactly what happened after the 2008 earthquake in Sichuan Province, China, which led to a surge in debris flows long after the initial seismic event.

    A strong aftershock after a 7.8 magnitude earthquake in Sichuan province, China, in May 2008 triggered more landslides in central China.
    AP Photo/Andy Wong

    Earth’s surface retains a “memory” of these events. Sediment disturbed in an earthquake, wildfire or severe storm will move downslope over years or even decades, reshaping the landscape as it goes.

    The 1950 Assam earthquake in India is a striking example: It triggered thousands of landslides. The sediment from these landslides gradually moved through the river system, eventually causing flooding and changing river channels in Bangladesh some 20 years later.

    An intensifying threat in a changing world

    These risks present challenges for everything from emergency planning to home insurance. After repeated wildfire-mudslide combinations in California, some insurers pulled out of the state entirely, citing mounting risks and rising costs among the reasons.

    Cascading hazards are not new, but their impact is intensifying.

    Climate change is increasing the frequency and severity of wildfires, storms and extreme rainfall. At the same time, urban development continues to expand into steep, hazard-prone terrain, exposing more people and infrastructure to evolving risks.

    The rising risk of interconnected climate disasters like these is overwhelming systems built for isolated events.

    Yet climate change is only part of the equation. Earth processes – such as earthquakes and volcanic eruptions – also trigger cascading hazards, often with long-lasting effects.

    Mount St. Helens is a powerful example: More than four decades after its eruption in 1980, the U.S. Army Corps of Engineers continues to manage ash and sediment from the eruption to keep it from filling river channels in ways that could increase the flood risk in downstream communities.

    Rethinking risk and building resilience

    Traditionally, insurance companies and disaster managers have estimated hazard risk by looking at past events.

    But when the landscape has changed, the past may no longer be a reliable guide to the future. To address this, computer models based on the physics of how these events work are needed to help forecast hazard evolution in real time, much like weather models update with new atmospheric data.

    A March 2024 landslide in the Oregon Coast Range wiped out trees in its path.
    Brian Yanites, June 2025
    A drone image of the same March 2024 landslide in the Oregon Coast Range shows where it temporarily dammed the river below.
    Brian Yanites, June 2025

    Thanks to advances in Earth observation technology, such as satellite imagery, drone and lidar, which is similar to radar but uses light, scientists can now track how hillslopes, rivers and vegetation change after disasters. These observations can feed into geomorphic models that simulate how loosened sediment moves and where hazards are likely to emerge next.

    Researchers are already coupling weather forecasts with post-wildfire debris flow models. Other models simulate how sediment pulses travel through river networks.

    Cascading hazards reveal that Earth’s surface is not a passive backdrop, but an active, evolving system. Each event reshapes the stage for the next.

    Understanding these connections is critical for building resilience so communities can withstand future storms, earthquakes and the problems created by debris flows. Better forecasts can inform building codes, guide infrastructure design and improve how risk is priced and managed. They can help communities anticipate long-term threats and adapt before the next disaster strikes.

    Most importantly, they challenge everyone to think beyond the immediate aftermath of a disaster – and to recognize the slow, quiet transformations that build toward the next.

    Brian J. Yanites receives funding from the National Science Foundation.

    – ref. Cascading disasters like those created by Hurricane Helene show why hazard models can’t rely on the past – https://theconversation.com/cascading-disasters-like-those-created-by-hurricane-helene-show-why-hazard-models-cant-rely-on-the-past-259502

    MIL OSI Analysis –

  • MIL-OSI Asia-Pac: Tang dynasty artefacts go on display

    Source: Hong Kong Information Services

    The opening ceremony of the “Tang Vogue Beyond the Horizons: A Golden Era of Multicultural Integration & Openness” exhibition, which will run at the Heritage Discovery Centre from tomorrow, was held today.

    The exhibition is jointly organised by the Development Bureau and the National Cultural Heritage Administration.

    Speaking at the opening ceremony, Secretary for Development Bernadette Linn said that as one of the celebration activities of the 28th anniversary of Hong Kong’s return to the motherland, this is the largest joint exhibition, in terms of profile, scale and quantity of artefacts on display, since the signing of the Framework Agreement on Deepening Exchange & Cooperation in the Field of Heritage Architecture & Archaeology between the bureau and the National Cultural Heritage Administration in 2022.

    She highlighted that the exhibition marks a move towards a higher level of mutual co-operation, and she is looking forward that the exhibition can showcase the culture of the majestic Tang dynasty to members of the public and friends from all over the world.

    Among the key exhibits are two paintings, namely the “Scroll depicting Emperor Minghuang playing polo”, which is a Song dynasty depiction of Emperor Xuanzong of Tang playing polo with his concubines on horseback; and the hanging scroll of Li Bai’s “Chun Ye Yan Tao Li Yuan Xu”  on cut silk depicting the refined life of Tang dynasty literati.

    These paintings will only be displayed during the first two months.

    The exhibition also displays significant Tang dynasty artefacts unearthed at Chek Lap Kok, Tung Chung and San Tau on Lantau Island in Hong Kong, including ceramic ware, iron weapons, bronze belt ornaments, silver chai hairpin, glass ring and fragment of silver piece, to illustrate the role of Hong Kong in the Maritime Silk Road.

    The exhibition will run from tomorrow to December 31 with free admission.

    Click here for details.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Tang dynasty artefacts go on display

    Source: Hong Kong Information Services

    The opening ceremony of the “Tang Vogue Beyond the Horizons: A Golden Era of Multicultural Integration & Openness” exhibition, which will run at the Heritage Discovery Centre from tomorrow, was held today.

    The exhibition is jointly organised by the Development Bureau and the National Cultural Heritage Administration.

    Speaking at the opening ceremony, Secretary for Development Bernadette Linn said that as one of the celebration activities of the 28th anniversary of Hong Kong’s return to the motherland, this is the largest joint exhibition, in terms of profile, scale and quantity of artefacts on display, since the signing of the Framework Agreement on Deepening Exchange & Cooperation in the Field of Heritage Architecture & Archaeology between the bureau and the National Cultural Heritage Administration in 2022.

    She highlighted that the exhibition marks a move towards a higher level of mutual co-operation, and she is looking forward that the exhibition can showcase the culture of the majestic Tang dynasty to members of the public and friends from all over the world.

    Among the key exhibits are two paintings, namely the “Scroll depicting Emperor Minghuang playing polo”, which is a Song dynasty depiction of Emperor Xuanzong of Tang playing polo with his concubines on horseback; and the hanging scroll of Li Bai’s “Chun Ye Yan Tao Li Yuan Xu”  on cut silk depicting the refined life of Tang dynasty literati.

    These paintings will only be displayed during the first two months.

    The exhibition also displays significant Tang dynasty artefacts unearthed at Chek Lap Kok, Tung Chung and San Tau on Lantau Island in Hong Kong, including ceramic ware, iron weapons, bronze belt ornaments, silver chai hairpin, glass ring and fragment of silver piece, to illustrate the role of Hong Kong in the Maritime Silk Road.

    The exhibition will run from tomorrow to December 31 with free admission.

    Click here for details.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Aemetis Biogas Receives CARB Approval for Seven RNG Pathways

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., June 27, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas (RNG) and renewable fuels company, announced today that the California Air Resources Board (CARB) has approved provisional pathways under the Low Carbon Fuel Standard (LCFS) for seven dairy digesters built and operated by Aemetis Biogas, a subsidiary of the Company. The pathway approvals are effective as of January 1, 2025. The average carbon intensity for the seven approved pathways is -384, with carbon intensities ranging from -327 to -419.

    “The approval of seven LCFS pathways increases the number of LCFS credits generated by these digesters by approximately 100%,” stated Eric McAfee, Chairman and CEO of Aemetis. “With eleven operating digesters and a four-dairy cluster digester currently being completed, we have additional pathway filings in process that we expect will be approved more quickly than these initial pathways once the LCFS regulatory amendments are adopted this year.”

    With the LCFS first quarter reporting deadline of June 30, 2025, the January 1, 2025, effective date of the new pathways enables Aemetis to immediately obtain the increased LCFS credit quantity for its RNG produced in the first quarter of 2025.

    Aemetis renewable energy and energy efficiency projects include the construction of new dairy digesters expected to generate more than 1 million MMBtu per year of renewable natural gas; the Keyes ethanol plant mechanical vapor recompression system that is expected to generate $32 million of increased annual cash flow starting in 2026; the Riverbank carbon sequestration project to inject 1.4 million tons per year of CO2 per year underground; and the 78 million gallon per year sustainable aviation fuel and renewable diesel plant that has already received Authority To Construct air permits and other key approvals.

    About Aemetis

    Headquartered in Cupertino, California, Aemetis is a renewable natural gas and renewable fuel company focused on the operation, acquisition, development, and commercialization of innovative technologies that replace petroleum products and reduce greenhouse gas emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel fuel biorefinery in California that will use renewable hydrogen and hydroelectric power to produce low carbon intensity renewable jet and diesel fuel. For additional information about Aemetis, please visit www.aemetis.com.

    Safe Harbor Statement

    This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results in 2025 and future years; statements relating to the development, engineering, financing, construction and operation of the Aemetis ethanol, biogas, SAF and renewable diesel, and carbon sequestration facilities; our ability to promote, develop, finance, and construct facilities to produce biogas, renewable fuels, and biochemicals; and statements about future market prices and results of government actions. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

    Company Investor Relations
    Media Contact:
    Todd Waltz
    (408) 213-0940
    investors@aemetis.com

    External Investor Relations
    Contact:
    Kirin Smith
    PCG Advisory Group
    (646) 863-6519
    ksmith@pcgadvisory.com

    The MIL Network –

  • Trump plans executive orders to power AI growth in race with China

    Source: Government of India

    Source: Government of India (4)

    The Trump administration is readying a package of executive actions aimed at boosting energy supply to power the U.S. expansion of artificial intelligence, according to four sources familiar with the planning.

    Top economic rivals U.S. and China are locked in a technological arms race and with it secure an economic and military edge. The huge amount of data processing behind AI requires a rapid increase in power supplies that are straining utilities and grids in many states.

    The moves under consideration include making it easier for power-generating projects to connect to the grid, and providing federal land on which to build the data centers needed to expand AI technology, according to the sources.

    The administration will also release an AI action plan and schedule public events to draw public attention to the efforts, according to the sources, who requested anonymity to discuss internal deliberations.

    The White House did not respond to requests for comment.

    Training large-scale AI models requires a huge amount of electricity, and the industry’s growth is driving the first big increase in U.S. power demand in decades.

    Between 2024 and 2029, U.S. electricity demand is projected to grow at five times the rate predicted in 2022, according to power-sector consultancy Grid Strategies.

    Meanwhile, power demand from AI data centers could grow more than thirtyfold by 2035, according to a new report by consultancy Deloitte.

    Building and connecting new power generation to the grid, however, has been a major hurdle because such projects require extensive impact studies that can take years to complete, and existing transmission infrastructure is overwhelmed.

    Among the ideas under consideration by the administration is to identify more fully developed power projects and move them higher on the waiting list for connection, two of the sources said.

    Siting data centers has also been challenging because larger facilities require a lot of space and resources, and can face zoning obstacles or public opposition.

    The executive orders could provide a solution to that by offering land managed by the Defense Department or Interior Department to project developers, the sources said.

    The administration is also considering streamlining permitting for data centers by creating a nationwide Clean Water Act permit, rather than requiring companies to seek permits on a state-by-state basis, according to one of the sources.

    In January, Trump hosted top tech CEOs at the White House to highlight the Stargate Project, a multi-billion effort led by ChatGPT’s creator OpenAI, SoftBank 9434.T and Oracle ORCL.N to build data centers and create more than 100,000 jobs in the U.S.

    Trump has prioritized winning the AI race against China and declared on his first day in office a national energy emergency aimed at removing all regulatory obstacles to oil and gas drilling, coal and critical mineral mining, and building new gas and nuclear power plants to bring more energy capacity online.

    He also ordered his administration in January to produce an AI Action Plan that would make “America the world capital in artificial intelligence” and reduce regulatory barriers to its rapid expansion.

    That report, which includes input from the National Security Council, is due by July 23. The White House is considering making July 23 “AI Action Day” to draw attention to the report and demonstrate its commitment to expanding the industry, two of the sources said.

    Trump is scheduled to speak at an AI and energy event in Pennsylvania on July 15 hosted by Senator Dave McCormick.

    Amazon this month announced it would invest $20 billion in data centers in two Pennsylvania counties.

    (Reuters)

  • MIL-OSI: Locafy Partners with Leading U.S. Reputation Platform – Plans to Scale Deployment of “AI-Ready” Search Solutions

    Source: GlobeNewswire (MIL-OSI)

    Agreement Expands U.S. Business Listing Syndication by Approximately 10,000 End Users

    Locafy’s “AI Search Readiness” Solutions Positioned as Value-Added Upsell to Base Contract

    PERTH, Australia, June 27, 2025 (GLOBE NEWSWIRE) — Locafy Limited (NASDAQ: LCFY, “Locafy” or the “Company”), a globally recognized leader in location-based digital marketing, today announced it has entered into a strategic partnership with one of the United States’ foremost online reputation and review management platforms.

    Under the agreement, Locafy will syndicate business listings for a premium segment of the partner’s client base, including real estate agents, mortgage brokers, and other professional service providers. The initial rollout covers a meaningful portion of the partner’s total U.S. customer footprint and establishes a foundation for broader adoption across additional industry segments. It also positions the partner to expand its engagement with Locafy by incorporating the Company’s new suite of AI search and engagement tools.

    “The solution we’ve developed features a fully automated, end-to-end production process that begins with business listing content,” said Locafy CEO Gavin Burnett. “We don’t just syndicate listings across directories, apps, maps, search engines, and voice assistants, we also generate proprietary landing pages that are now ‘AI Search Ready.’”

    “We’ve extensively tested our AI search readiness across major platforms, including ChatGPT, Gemini, and Perplexity. Consistently, our landing pages are cited as primary sources by these AI platforms, reinforcing the effectiveness of our technology.”

    In addition, Locafy is leveraging its proprietary AI search technology to boost local pack rankings in organic search for high-value keywords using these same AI-ready landing pages.

    “What we believe we’ve created is the ultimate location-based digital marketing solution—syndicated business listings across major digital platforms, AI-ready landing pages that drive visibility in leading AI search engines, and proprietary technology that delivers top rankings in local map pack search results,” said Burnett. “That’s exactly what most small business owners are looking for when it comes to building their online presence.

    “We can now make any business visible online and in AI search through a solution that is affordable, easy to deploy, and delivers fast results. What’s more, our platform can be utilized by any of our extensive citation management partners, providing significant scalability.”

    “We’re thrilled to be partnering with a company widely regarded as a category leader in review and reputation management,” Burnett added. “This is a strategic win in the U.S. and a meaningful commercial opportunity in our home market. Our immediate focus is on delivering a high-quality solution, followed by working closely with our partner to support a seamless upgrade path for their clients to access our broader suite of AI search and engagement tools.”

    This partnership supports Locafy’s broader strategy to deepen relationships with complementary technology providers, expand internationally, and deliver high-value digital marketing solutions that help customers thrive in a search-first world.

    About Locafy
    Locafy (Nasdaq: LCFY, LCFYW) is a globally recognized software-as-a-service (SaaS) technology company specializing in local search engine marketing. Founded in 2009, Locafy’s mission is to revolutionize the US$700 billion SEO sector. The Company helps businesses and brands improve search engine relevance and visibility in proximity-based search through a fast, easy, and automated platform. For more information, please visit www.locafy.com.

    Forward-Looking Statements
    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “subject to”, “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “project,” “may,” “will,” “should,” “would,” “could,” “can,” the negatives thereof, variations thereon and similar expressions, or by discussions of strategy, although not all forward-looking statements contain these words. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 20-F, filed with the SEC on November 12, 2024, as amended, and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

    Investor Relations Contact:
    Matt Glover
    Gateway Group, Inc.
    (949) 574-3860
    LCFY@gateway-grp.com

    The MIL Network –

  • MIL-OSI Banking: India’s International Investment Position (IIP), March 2025

    Source: Reserve Bank of India

    Today, the Reserve Bank released data relating to India’s International Investment Position for end-March 2025[1].

    Key Features

    IIP during January-March 2025:

    • Net claims of non-residents on India declined by US$ 34.2 billion during Q4:2024-25 to US$ 330.0 billion as at end-March 2025.

    • Higher rise in Indian residents’ overseas financial assets (US$ 60.0 billion) as compared to that in the foreign-owned assets in India (US$ 25.8 billion) led to the decline in net claims of non-residents during the quarter (Table 1).

    • Increase in reserve assets accounted for over 54 per cent of the rise in Indian residents’ overseas financial assets, followed by currency & deposits and direct investments.

    • Rise in loans (US$ 10.0 billion) and inward direct investment (US$ 9.7 billion) together accounted for over three-fourths of the rise in foreign liabilities of Indian residents during January-March 2025.

    • Reserve assets accounted for 58.7 per cent of India’s international financial assets (Table 3).

    • The ratio of India’s international assets to international liabilities increased to 77.5 per cent in March 2025 from 74.8 per cent a quarter ago (Chart 1 & Table 1).

    • The share of debt liabilities in total external liabilities increased during the quarter and stood at 54.8 per cent (Table 4).

    IIP during April-March 2024-25:

    • During 2024-25, the net claims of non-residents declined by US$ 31.2 billion on the back of higher rise in India’s external financial assets (US $ 105.4 billion) vis-à-vis external financial liabilities (US $ 74.2 billion) (Table 1).

    • Over 72 per cent of the rise in India’s overseas financial assets was due to increase in overseas direct investment, currency & deposits, and reserve assets.

    • Inward direct investments, loans as well as currency & deposits accounted for over three-fourths of the rise in foreign liabilities during the year.

    • The ratio of India’s international financial assets to international financial liabilities increased to 77.5 per cent in March 2025 from 74.1 per cent a year ago (Chart 1 & Table 1).

    Ratio of International Financial Assets and Liabilities to Gross Domestic Product (GDP):

    • As a ratio to GDP (at current market prices), residents’ overseas financial assets increased and external financial liabilities declined during 2024-25 (Table 2).

    • The ratio of net claims of non-residents on India to GDP improved to (-)8.7 per cent in March 2025 from (-)10.1 per cent a year ago, and (-)14.1 per cent five years ago.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/616

    Table 1: Overall International Investment Position of India
    (US$ billion)
    Period Mar-24 (PR) Jun-24 (PR) Sep-24 (PR) Dec-24 (PR) Mar-25 (P)
    Net IIP (A-B) -361.2 -366.9 -353.0 -364.2 -330.0
    A. Assets 1,033.8 1,052.0 1,119.4 1,079.2 1,139.2
      1. Direct Investment 242.3 246.6 254.5 260.8 270.5
        1.1 Equity and investment fund shares 153.4 156.6 162.4 166.5 173.6
        1.2 Debt instruments 88.9 90.0 92.1 94.3 96.9
      2. Portfolio Investment 12.5 12.4 12.5 12.2 13.7
        2.1 Equity and investment fund shares 11.0 10.7 11.2 9.4 8.7
        2.2 Debt securities 1.5 1.7 1.3 2.8 5.0
      3. Other Investment 132.6 141.0 146.6 170.5 186.7
        3.1 Trade Credits 33.4 32.8 32.9 33.2 33.4
        3.2 Loans 17.6 20.8 22.1 22.5 25.9
        3.3 Currency and Deposits 53.5 57.8 56.1 68.6 79.3
        3.4 Other Assets 28.1 29.6 35.5 46.2 48.1
      4. Reserve Assets 646.4 652.0 705.8 635.7 668.3
    B. Liabilities 1,395.0 1,418.9 1,472.4 1,443.4 1,469.2
      1. Direct Investment 542.9 552.8 555.3 547.1 556.8
        1.1 Equity and investment fund shares 511.1 520.6 522.8 513.0 521.9
        1.2 Debt instruments 31.8 32.2 32.5 34.1 34.9
      2. Portfolio Investment 277.3 277.4 294.3 276.6 272.0
        2.1 Equity and investment fund shares 162.1 160.9 170.9 155.6 141.9
        2.2 Debt securities 115.2 116.5 123.4 121.0 130.1
      3. Other Investment 574.8 588.7 622.8 619.7 640.4
        3.1 Trade Credits 123.7 125.9 131.3 135.6 131.2
        3.2 Loans 221.4 224.6 239.4 240.6 250.6
        3.3 Currency and Deposits 154.8 160.6 164.1 165.7 167.6
        3.4 Other Liabilities 74.9 77.6 88.0 77.8 91.0
    of which:          
    Special drawing rights (Net incurrence of liabilities) 21.9 21.8 22.4 21.6 22.0
    Memo Item: Assets to Liability ratio (%) 74.1 74.1 76.0 74.8 77.5
    Notes (applicable for all tables):
    1. P: Provisional; PR: Partially Revised; and R: Revised.
    2. The sum of the constituent items may not add to the total due to rounding off.
    Table 2: Ratios of External Financial Assets and Liabilities to GDP
    (per cent)
    Period Mar-23 (R) Mar-24 (PR) Mar-25 (P)
    Net IIP (A-B) -11.3 -10.1 -8.7
    A. Assets 28.2 28.5 29.3
      1. Direct Investment 6.8 6.7 6.9
        1.1 Equity and investment fund shares 4.3 4.2 4.4
        1.2 Debt instruments 2.5 2.5 2.5
      2. Portfolio Investment 0.5 0.3 0.3
        2.1 Equity and investment fund shares 0.3 0.3 0.2
        2.2 Debt securities 0.2 –   0.1
      3. Other Investment 3.2 3.6 4.8
        3.1 Trade Credits 0.8 0.8 0.8
        3.2 Loans 0.4 0.5 0.7
        3.3 Currency and Deposits 1.0 1.5 2.1
        3.4 Other Assets 1.0 0.8 1.2
      4. Reserve Assets 17.7 17.9 17.3
    B. Liabilities 39.5 38.6 38.0
      1. Direct Investment 16.0 15.0 14.4
        1.1 Equity and investment fund shares 15.1 14.1 13.5
        1.2 Debt instruments 0.9 0.9 0.9
      2. Portfolio Investment 7.5 7.7 7.1
        2.1 Equity and investment fund shares 4.3 4.5 3.7
        2.2 Debt securities 3.2 3.2 3.4
      3. Other Investment 16.0 15.9 16.5
        3.1 Trade Credits 3.8 3.4 3.4
        3.2 Loans 6.2 6.1 6.5
        3.3 Currency and Deposits 4.3 4.3 4.3
        3.4 Other Assets 1.7 2.1 2.3
    of which:      
    Special drawing rights (Net incurrence of liabilities) 0.7 0.6 0.6
    Table 3: Composition of International Financial Assets and Liabilities of India
    (per cent)
    Period Mar-24 (PR) Jun-24 (PR) Sep-24 (PR) Dec-24 (PR) Mar-25 (P)
    A. Assets
    1. Direct Investment 23.4 23.4 22.7 24.2 23.7
    2. Portfolio Investment 1.2 1.2 1.1 1.1 1.2
    3. Other Investment 12.9 13.4 13.1 15.8 16.4
    4. Reserve Assets 62.5 62.0 63.1 58.9 58.7
    Total 100.0 100.0 100.0 100.0 100.0
    B. Liabilities
        1. Direct Investment 38.9 39.0 37.7 37.9 37.9
        2. Portfolio Investment 19.9 19.5 20.0 19.2 18.5
        3. Other Investment 41.2 41.5 42.3 42.9 43.6
    Total 100.0 100.0 100.0 100.0 100.0
    Table 4: Share of External Debt and Non-Debt Liabilities of India
    (per cent)
    Period Mar-24 (PR) Jun-24 (PR) Sep-24 (PR) Dec-24 (PR) Mar-25 (P)
    Non-Debt Liabilities 48.3 48.0 47.1 46.3 45.2
    Debt Liabilities 51.7 52.0 52.9 53.7 54.8
    Total 100.0 100.0 100.0 100.0 100.0

    MIL OSI Global Banks –

  • MIL-OSI Economics: Sources of Variation in India’s Foreign Exchange Reserves during April-March 2024-25

    Source: Reserve Bank of India

    Today, the Reserve Bank of India released the balance of payments (BoP) data for the fourth quarter (Q4), i.e., January-March of 2024-25 on its website (www.rbi.org.in). On the basis of these data, the sources of variation in foreign exchange reserves during April-March 2024-25 are detailed below in Table 1.

    Table 1: Sources of Variation in Foreign Exchange Reserves*
    (US$ billion)
    Items 2023-24 2024-25
    I.   Current Account Balance -26.1 -23.4
    II.   Capital Account (net) (a to f) 89.8 18.3
      a. Foreign Investment (i+ii) 54.2 4.5
        (i) Foreign Direct Investment (FDI) 10.2 1.0
        (ii) Portfolio Investment 44.1 3.6
            of which:    
              Foreign Institutional Investment (FII) 44.6 3.3
              ADR/GDR 0.0 0.0
      b. Banking Capital 40.5 -9.8
            of which: NRI Deposits 14.7 16.2
      c. Short-term Credit -0.8 7.2
      d. External Assistance 7.5 6.3
      e. External Commercial Borrowings -0.1 15.8
      f. Other Items in Capital Account -11.5 -5.6
    III.   Valuation Change 4.3 26.9
    IV.   Total (I+II+III) @
    Increase in reserves(+) / Decrease in reserves (-)    		 68.0 21.9
    *: Based on the old format of BoP which may differ from the new format (BPM6) in the treatment of transfers under the current account and ADRs/ GDRs under portfolio investment.
    @: Difference, if any, is due to rounding off.
    Note: ‘Other Items in Capital Account’ apart from ‘Errors and Omissions’ includes SDR allocation, leads and lags in exports, funds held abroad, advances received pending issue of shares under FDI, capital receipts not included elsewhere, and rupee denominated debt.

    On a balance of payments basis (i.e., excluding valuation effects), foreign exchange reserves decreased by US$ 5.0 billion during 2024-25 as against an accretion of US$ 63.7 billion during 2023-24. Foreign exchange reserves in nominal terms (i.e., including valuation effects) increased by US$ 21.9 billion during 2024-25 as compared with an increase of US$ 68.0 billion in 2023-24 (Table 2).

    Table 2: Comparative Position of Variation in Reserves
    (US$ billion)
    Items 2023-24 2024-25
    1. Change in Foreign Exchange Reserves (i.e., Including Valuation Effects) 68.0 21.9
    2. Valuation Effects [Gain (+)/Loss (-)] 4.3 26.9
    3. Change in Foreign Exchange Reserves on BoP basis (i.e., Excluding Valuation Effects) 63.7 -5.0
    Note: Increase in reserves (+)/Decrease in reserves (-).
    Difference, if any, is due to rounding off.

    The valuation gain, primarily reflecting higher prices of gold and lower bond yields, amounted to US$ 26.9 billion during 2024-25 as compared with a valuation gain of US$ 4.3 billion during 2023-24.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/612

    MIL OSI Economics –

  • MIL-OSI Economics: Developments in India’s Balance of Payments during the Fourth Quarter (January-March) of 2024-25

    Source: Reserve Bank of India

    Preliminary data on India’s balance of payments (BoP) for the fourth quarter (Q4), i.e., January-March 2024-25, are presented in Statements I and II.

    Key Features of India’s BoP in Q4:2024-25

    • India’s current account balance recorded a surplus of US$ 13.5 billion (1.3 per cent of GDP) in Q4:2024-25 as compared with US$ 4.6 billion (0.5 per cent of GDP) in Q4:2023-24 and against a deficit of US$ 11.3 billion (1.1 per cent of GDP) in Q3:2024-25.1
    • Merchandise trade deficit at US$ 59.5 billion in Q4:2024-25 was higher than US$ 52.0 billion in Q4:2023-24. However, it moderated from US$ 79.3 billion in Q3:2024-25.
    • Net services receipts increased to US$ 53.3 billion in Q4:2024-25 from US$ 42.7 billion a year ago. Services exports have risen on a y-o-y basis in major categories such as business services and computer services.
    • Net outgo on the primary income account, primarily reflecting payments of investment income, moderated to US$ 11.9 billion in Q4:2024-25 from US$ 14.8 billion in Q4:2023-24.
    • Personal transfer receipts, mainly representing remittances by Indians employed overseas, rose to US$ 33.9 billion in Q4:2024-25 from US$ 31.3 billion in Q4:2023-24.
    • In the financial account, foreign direct investment (FDI) recorded a net inflow of US$ 0.4 billion in Q4:2024-25 as compared to an inflow of US$ 2.3 billion in the corresponding period of 2023-24.
    • Foreign portfolio investment (FPI) recorded a net outflow of US$ 5.9 billion in Q4:2024-25 as against a net inflow of US$ 11.4 billion in Q4:2023-24.
    • Net inflows under external commercial borrowings (ECBs) to India amounted to US$ 7.4 billion in Q4:2024-25, as compared to US$ 2.6 billion in the corresponding period a year ago.
    • Non-resident deposits (NRI deposits) recorded a net inflow of US$ 2.8 billion in Q4:2024-25, lower than US$ 5.4 billion a year ago.

    BoP During 2024-25

    • India’s current account deficit at US$ 23.3 billion (0.6 per cent of GDP) during 2024-25 was lower than US$ 26.0 billion (0.7 per cent of GDP) during 2023-24, primarily due to higher net invisibles receipts.

    • During 2024-25, FPI recorded a net inflow of US$ 3.6 billion, lower than US$ 44.1 billion a year ago.

    Table 1: Major Items of India’s Balance of Payments
    (US$ billion)
      January-March 2024 PR January-March 2025 P 2023-24 PR 2024-25 P
      Credit Debit Net Credit Debit Net Credit Debit Net Credit Debit Net
    A. Current Account 253.5 248.9 4.6 264.9 251.4 13.5 942.8 968.9 -26.0 1018.3 1041.6 -23.3
    1. Goods 121.6 173.6 -52.0 116.3 175.8 -59.5 441.4 686.4 -244.9 441.8 729.0 -287.2
       of which:                        
          POL 22.2 48.8 -26.5 14.1 44.3 -30.2 84.2 178.7 -94.6 63.3 185.8 -122.4
    2. Services 89.4 46.7 42.7 102.0 48.7 53.3 341.1 178.3 162.8 387.5 198.7 188.8
    3. Primary Income 10.5 25.3 -14.8 11.9 23.8 -11.9 41.5 91.2 -49.7 53.4 101.8 -48.4
    4. Secondary Income 32.1 3.4 28.7 34.7 3.2 31.5 118.9 13.0 105.9 135.6 12.1 123.5
    B. Capital Account and Financial Account 248.0 253.3 -5.2 255.8 270.2 -14.4 851.9 826.3 25.6 1154.5 1132.8 21.7
       of which:                        
    1. Direct Investment 20.2 17.9 2.3 18.5 18.1 0.4 74.9 64.8 10.2 84.2 83.2 1.0
    2. Portfolio Investment 138.9 127.5 11.4 126.0 131.8 -5.9 466.1 422.0 44.1 639.3 635.8 3.6
    3. Other Investments 82.7 67.7 14.9 106.2 98.8 7.4 287.8 244.7 43.1 368.6 334.2 34.5
       of which:                        
         NRI Deposits 26.0 20.7 5.4 26.3 23.5 2.8 88.6 73.9 14.7 104.5 88.4 16.2
         ECBs to India 11.7 9.2 2.6 15.6 8.2 7.4 33.5 29.9 3.5 47.8 29.4 18.4
    4. Reserve Assets [Increase (-)/Decrease (+)] 0.0 30.8 -30.8 0.0 8.8 -8.8 0.0 63.7 -63.7 37.7 32.6 5.0
    C. Errors & Omissions (-) (A+B) 0.6 0.0 0.6 0.9 0.0 0.9 1.6 1.2 0.4 2.0 0.4 1.5
    PR: Partially Revised; and P: Preliminary.
    Note: Total of sub-components may not tally with aggregate due to rounding off.

    (Puneet Pancholy)   
    Chief General Manager

    Press Release: 2025-2026/611

    MIL OSI Economics –

  • MIL-OSI Economics: AML/CFT Handbook updated to reflect National Risk Appetite Statement

    Source: Isle of Man

    The Isle of Man Government has recently published a National Risk Appetite Statement (NRAS) with a focus on the eGaming sector and related industries.

    The NRAS has been produced in response to the evolving threat landscape, particularly from serious and organised crime in East and Southeast Asia. The NRAS provides clear, actionable guidance for businesses to assess and manage risks in both new and existing relationships.

    In conjunction with this cross-agency initiative, the Authority has updated its AML/CFT Handbook to reference the NRAS and provide guidance on where this should be considered by relevant persons in the course of their business activities.

    The revised Handbook includes links to the NRAS Frequently Asked Questions, along with an update to the Business Risk Assessment guidance in section 2.2.8.

    MIL OSI Economics –

  • MIL-OSI Economics: Indicative Calendar of Market borrowings by State Governments/ Union Territories for the Quarter July – September 2025

    Source: Reserve Bank of India

    The Reserve Bank of India, in consultation with the State Governments/Union Territories (UTs), announces that the quantum of total market borrowings by the State Governments/UTs for the quarter July – September 2025, is expected to be ₹2,86,696 Crore. The weekly schedule of auctions to be held during the quarter along with the name of States/UTs who have confirmed participation and tentative amounts indicated by them is as under:

    Month Proposed Date Expected quantum of borrowing
    (in ₹ Cr)    		 States/UTs who have confirmed participation and the tentative amount of borrowing (in ₹ Cr)
    July 2025 July 01, 2025
    (Tuesday)    		 18,100 Andhra Pradesh 2000
    Assam 900
    Gujarat 1,000
    Himachal Pradesh 1,200
    Kerala 2,000
    Maharashtra 6,000
    Rajasthan 500
    Tamil Nadu 2,000
    Telangana 1,500
    West Bengal 1,000
    July 08, 2025
    (Tuesday)    		 22,400 Bihar 2,000
    Goa 100
    Gujarat 2,000
    Haryana 1,000
    Jammu & Kashmir 400
    Kerala 1,000
    Madhya Pradesh 4,800
    Maharashtra 4,000
    Mizoram 100
    Odisha 1,000
    Punjab 500
    Rajasthan 1,000
    Tamil Nadu 2,000
    Uttar Pradesh 2,500
    July 15, 2025
    (Tuesday)    		 17,400 Bihar 2,000
    Chhattisgarh 1,000
    Goa 100
    Jammu & Kashmir 700
    Maharashtra 6,000
    Nagaland 300
    Odisha 1,000
    Puducherry 200
    Punjab 500
    Tamil Nadu 2,000
    Telangana 1,000
    Tripura 600
    West Bengal 2,000
    July 22, 2025
    (Tuesday)    		 18,500 Bihar 2,000
    Goa 100
    Haryana 2,000
    Maharashtra 4,000
    Manipur 250
    Meghalaya 150
    Odisha 1,000
    Punjab 500
    Tamil Nadu 2,000
    Telangana 1,000
    Uttar Pradesh 2,500
    West Bengal 3,000
    July 29, 2025
    (Tuesday)    		 26,500 Assam 500
    Chhattisgarh 1,000
    Gujarat 3,000
    Haryana 1,000
    Kerala 2,000
    Madhya Pradesh 4,000
    Maharashtra 4,000
    Punjab 500
    Rajasthan 4,000
    Sikkim 500
    Tamil Nadu 3,000
    Telangana 1,000
    West Bengal 2,000
    August 2025 August 05, 2025
    (Tuesday)    		 26,717 Andhra Pradesh 5,500
    Assam 900
    Bihar 2,000
    Goa 100
    Haryana 1,000
    Himachal Pradesh 800
    Jammu & Kashmir 317
    Kerala 2,000
    Maharashtra 4,000
    Mizoram 100
    Odisha 1,000
    Punjab 1,500
    Rajasthan 1,000
    Tamil Nadu 2,000
    Uttarakhand 500
    Uttar Pradesh 2,500
    West Bengal 1,500
    August 12, 2025
    (Tuesday)    		 14,700 Bihar 2,000
    Kerala 2,000
    Maharashtra 5,000
    Manipur 200
    Punjab 1,000
    Tamil Nadu 2,000
    Telangana 1,500
    West Bengal 1,000
    August 19, 2025
    (Tuesday)    		 26,150 Bihar 2,000
    Goa 100
    Gujarat 2,000
    Haryana 1,500
    Kerala 1,000
    Madhya Pradesh 4,800
    Maharashtra 4,000
    Meghalaya 450
    Odisha 1,000
    Puducherry 200
    Punjab 500
    Tamil Nadu 2,000
    Telangana 1,000
    Tripura 600
    Uttarakhand 500
    Uttar Pradesh 2,500
    West Bengal 2,000
    August 26, 2025
    (Tuesday)    		 20,850 Assam 450
    Goa 100
    Gujarat 2,000
    Haryana 1,500
    Jammu & Kashmir 800
    Kerala 2,000
    Maharashtra 4,000
    Rajasthan 4,000
    Tamil Nadu 3,000
    Telangana 1,000
    West Bengal 2,000
    September 2025 September 02, 2025
    (Tuesday)    		 21,400 Andhra Pradesh 4,000
    Assam 500
    Bihar 2,000
    Chhattisgarh 1,500
    Goa 100
    Gujarat 2,000
    Himachal Pradesh 800
    Kerala 1,000
    Maharashtra 3,000
    Punjab 1,500
    Rajasthan 1,000
    Tamil Nadu 2,000
    Uttarakhand 500
    West Bengal 1,500
    September 09, 2025
    (Tuesday)    		 15,150 Goa 150
    Haryana 1,500
    Jammu & Kashmir 700
    Maharashtra 4,000
    Nagaland 300
    Odisha 1,000
    Punjab 500
    Tamil Nadu 2,000
    Telangana 1,000
    Uttar Pradesh 2,500
    West Bengal 1,500
    September 16, 2025
    (Tuesday)    		 23,629 Assam 500
    Bihar 2,000
    Gujarat 1,500
    Haryana 1,000
    Madhya Pradesh 4,800
    Maharashtra 3,000
    Meghalaya 100
    Mizoram 150
    Rajasthan 1,500
    Tamil Nadu 2,000
    Telangana 1,000
    Tripura 579
    Uttarakhand 500
    Uttar Pradesh 2,000
    West Bengal 3,000
    September 23, 2025
    (Tuesday)    		 20,100 Assam 500
    Goa 100
    Haryana 1,500
    Kerala 1,000
    Maharashtra 4,000
    Odisha 1,000
    Punjab 500
    Sikkim 500
    Tamil Nadu 4,000
    Telangana 1,000
    Uttar Pradesh 2,500
    West Bengal 3,500
    September 30, 2025
    (Tuesday)    		 15,100 Assam 500
    Goa 100
    Gujarat 2,000
    Haryana 1,000
    Kerala 1,000
    Maharashtra 4,000
    Punjab 1,000
    Rajasthan 4,000
    Telangana 1,000
    Uttarakhand 500
    Total 2,86,696   2,86,696

    The actual amount of borrowings and the details of the States/UTs participating would be intimated by way of press releases two/ three days prior to the actual auction day and would depend on the requirement of the State Governments/UTs, approval from the Government of India under Article 293(3) of the Constitution of India and market conditions. RBI would endeavour to conduct the auctions in a non-disruptive manner, taking into account the market conditions and other relevant factors and distribute the borrowings evenly throughout the quarter. RBI reserves the right to modify the dates and the amount of auction in consultation with State Governments/UTs.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/613

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Digital asset consultation begins

    Source: Hong Kong Information Services

    The Financial Services & the Treasury Bureau (FSTB) and the Securities & Futures Commission (SFC) today launched a joint public consultation on the legislative proposals for establishing licensing regimes for digital asset (DA) dealing and custodian service providers.

    The public consultation will last until August 29.

    Under the proposed licensing regime for DA dealing service providers, any person who carries on a business of providing DA dealing services in Hong Kong will have to be licensed by or registered with the SFC.

    Also, irrespective of whether the relevant DA dealing services are provided through a physical outlet and/or other platforms, both simple dealing services and more complex services will fall under the scope of the licensing regime.

    In addition, licensed or registered providers of DA dealing services will need to meet fit-and-proper criteria and comply with a range of regulatory requirements.

    The licensing regime will be fully implemented on the date the relevant statutory provisions come into effect.

    Meanwhile, under the proposed licensing regime for DA custodian service providers, any person carrying on a business in Hong Kong of providing DA custodian services will have to be licensed by or registered with the SFC.

    Licensed or registered providers of DA custodian services will also need to meet fit-and-proper criteria and comply with a range of regulatory requirements.

    Secretary for Financial Services & the Treasury Christopher Hui said the Government is striving to build Hong Kong into a premier global hub for DAs, adding that upholding investor protection is of utmost concern.

    “The proposed licensing regimes will lay a solid foundation for us to establish a comprehensive regulatory framework for DAs with investor and customer protection at its core.

    “The move will also help realise our vision to build Hong Kong’s DA ecosystem into a highly trusted one that will flourish sustainably and responsibly in a risk-managed manner, thereby delivering concrete benefits to the real economy and financial markets.”

    The public and stakeholders can submit their views by post to the FSTB at 24/F, Central Government Offices, 2 Tim Mei Avenue, Tamar, Hong Kong.

    They can also send their views on the licensing regime for DA trading service providers or the licensing regime for DA custodian service providers by email.

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: The ‘Godfather of Human Rights’ Ken Roth on genocide, Trump and standing up for democracy

    By Richard Larsen, RNZ News producer — 30′ with Guyon Espiner

    The former head of Human Rights Watch — and son of a Holocaust survivor — says Israel’s military campaign in Gaza will likely meet the legal definition of genocide, citing large-scale killings, the targeting of civilians, and the words of senior Israeli officials.

    Speaking on 30′ with Guyon Espiner, Ken Roth agreed Hamas committed “blatant war crimes” in its attack on Israel on October 7 last year, which included the abduction and murder of civilians.

    But he said it was a “basic rule” that war crimes by one side do not justify war crimes by the other.

    There was indisputable evidence Israel had committed war crimes in Gaza and might also be pursuing tactics that fit the international legal standard for genocide, Roth said.

    30′ with Guyon Espiner Kenneth Roth    Video: RNZ

    “The acts are there — mass killing, destruction of life-sustaining conditions. And there are statements from senior officials that point clearly to intent,” Roth said.

    He cited comments immediately after the October 7 attack by Hamas from Israel’s former Defence Minister Yoav Gallant, who referred to Gazans as “human animals”.

    Israeli President Isaac Herzog also said “an entire nation” was responsible for the attack and the notion of “unaware, uninvolved civilians is not true,” referring to the Palestinean people. Herzog subsequently said his words were taken out of context during a case at the International Court of Justice.

    The accusation of genocide is hotly contested. Israel says it is fighting a war of self-defence against Hamas after it killed 1200 people, mostly civilians. It claims it adheres to international law and does its best to protect civilians.

    It blames Hamas for embedding itself in civilian areas.

    But Roth believes a ruling may ultimately come from the International Court of Justice, especially if a forthcoming judgment on Myanmar sets a precedent.

    “It’s very similar to what Myanmar did with the Rohingya,” he said. “Kill about 30,000 to send 730,000 fleeing. It’s not just about mass death. It’s about creating conditions where life becomes impossible.”

    ‘Apartheid’ alleged in Israel’s West Bank
     Roth has been described as the ‘Godfather of Human Rights’, and is credited with vastly expanding the influence of the Human Rights Watch group during a 29-year tenure in charge of the organisation.

    In the full interview with Guyon Espiner, Roth defended the group’s 2021 report that accused Israel of enforcing a system of apartheid in the occupied West Bank.

    “This was not a historical analogy,” he said, implying it was a mistake to compare it with South Africa’s former apartheid regime.

    “It was a legal analysis. We used the UN Convention against Apartheid and the Rome Statute, and laid out over 200 pages of evidence.”

    Kenneth Roth appears via remote link in studio for an interview on season 3 of 30′ with Guyon Espiner. Image: RNZ

    He said the Israeli government was unable to offer a factual rebuttal.

    “They called us biased, antisemitic — the usual. But they didn’t contest the facts.”

    The ‘cheapening’ of antisemitism charges
     Roth, who is Jewish and the son of a Holocaust refugee, said it was disturbing to be accused of antisemitism for criticising a government.

    “There is a real rise in antisemitism around the world. But when the term is used to suppress legitimate criticism of Israel, it cheapens the concept, and that ultimately harms Jews everywhere.”

    Roth said Israeli Prime Minister Benjamin Netanyahu had long opposed a two-state solution and was now pursuing a status quo that amounted to permanent subjugation of Palestinians, a situation human rights groups say is illegal.

    “The only acceptable outcome is two states, living side by side. Anything else is apartheid, or worse,” Roth said.

    While the international legal process around charges of genocide may take years, Roth is convinced the current actions in Gaza will not be forgotten.

    “This is not just about war,” he said. “It’s about the deliberate use of starvation, displacement and mass killing to achieve political goals. And the law is very clear — that’s a crime.”

    Roth’s criticism of Israel saw him initially denied a fellowship at Harvard University in 2023. The decision was widely seen as politically motivated, and was later reversed after public and academic backlash.

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Russia: Seven killed, 16 injured in road crash in central Philippines

    Translation. Region: Russian Federal

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

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

    MANILA, June 27 (Xinhua) — Seven people were killed and 16 others were injured when a mini dump truck crashed in Silay, central Philippines’ Negros Occidental province, on Friday morning, local authorities said.

    All the deceased worked in the city administration. The accident occurred when they were returning from an environmental event.

    Authorities say the driver apparently lost control of the steering wheel and the vehicle then rolled over.

    An investigation into the cause of the accident is underway. –0–

    MIL OSI Russia News –

  • EAM Jaishankar urges SCO nations to speak and act against terrorism

    Source: Government of India

    Source: Government of India (4)

    External Affairs Minister S. Jaishankar on Friday stressed that the core objective of the Shanghai Cooperation Organisation (SCO) is to combat terrorism, and that all member nations must reflect this shared goal through both words and actions.

    Addressing an event in the national capital, Jaishankar reiterated India’s consistent position that terrorism must not be justified, glorified, or shielded under any pretext.

    “The SCO was created with the purpose of fighting terrorism. If any country participating on this platform selectively blocks references to terror incidents or avoids calling out terrorism, then it defeats the very purpose of the organisation,” Jaishankar said.

    “Our position is very clear,” he added. “One country objected to the mention of terrorism—and we all know which country it is. That is why our Defence Minister did not endorse the statement. If fighting terrorism is our common goal, then we must call out every act and every place affected.”

    The Ministry of External Affairs, in a statement issued on Thursday, said the SCO Defence Ministers’ meeting concluded without a joint statement due to a lack of consensus among member countries.

    “India advocated for the inclusion of terrorism concerns in the document, but one country objected. The Defence Minister urged countries to unite against terrorism and hold perpetrators accountable, emphasising regional stability and security,” the statement said.

    IANS

  • Ukraine calls for EU sanctions on Bangladeshi entities for import of ‘stolen grain’

    Source: Government of India

    Source: Government of India (4)

    Ukraine plans to ask the European Union to sanction Bangladeshi entities it says are importing wheat taken from Ukrainian territories occupied by Russia, after its warnings to Dhaka failed to stop the trade, a top Ukrainian diplomat in South Asia said.

    Russian forces have occupied large parts of Ukraine’s southern agricultural regions since 2014 and Kyiv has accused Russia of stealing its grain even before the 2022 invasion. Russian officials say there is no theft of grain involved as the territories previously considered part of Ukraine are now part of Russia and will remain so forever.

    According to documents provided to Reuters by people familiar with the matter, the Ukraine Embassy in New Delhi sent several letters to Bangladesh’s foreign affairs ministry this year, asking them to reject more than 150,000 tonnes of grain allegedly stolen and shipped from Russian port of Kavkaz.

    Asked about the confidential diplomatic communication, Ukraine’s ambassador to India, Oleksandr Polishchuk, said Dhaka had not responded to the communication and Kyiv will now escalate the matter as its intelligence showed entities in Russia mix grain procured from occupied Ukrainian territories with Russian wheat before shipping.

    “It’s a crime,” Polishchuk said in an interview at Ukraine’s embassy in New Delhi.

    “We will share our investigation with our European Union colleagues, and we will kindly ask them to take the appropriate measures.”

    Ukraine’s diplomatic tussle with Bangladeshi authorities has not been previously reported.

    The Bangladesh and Russian foreign ministries did not respond to requests for comment.

    A Bangladeshi food ministry official said Dhaka bars imports from Russia if the origin of the grain is from occupied Ukrainian territory, adding that the country imports no stolen wheat.

    Amid the war with Russia, the agricultural sector remains one of the main sources of export earnings for Ukraine, supplying grain, vegetable oil and oilseeds to foreign markets.

    In April, Ukraine detained a foreign vessel in its territorial waters, alleging it was involved in the illegal trade of stolen grain, and last year seized a foreign cargo ship and detained its captain on similar suspicions.

    The EU has so far sanctioned 342 ships that are part of Russia’s so-called shadow fleet, which the bloc says enable Moscow to circumvent Western restrictions to move oil, arms and grain. Russia says Western sanctions are illegal.

    ‘NOT DIAMONDS OR GOLD’

    A Ukraine official told Reuters Ukrainian law prohibits any voluntary trade between Ukrainian producers, including grain farmers in the occupied territories, and Russian entities.

    The Ukraine Embassy has sent four letters to Bangladesh’s government, reviewed by Reuters, in which it shared vessel names and their registration numbers involved in the alleged trade of moving the grain from the Crimean ports of Sevastopol and Kerch, occupied by Russia since 2014, and Berdiansk, which is under Moscow’s control since 2022, to Kavkaz in Russia.

    The letters stated the departure and tentative arrival dates of the ships that left from Kavkaz for Bangladesh between November 2024 and June 2025.

    The June 11 letter said Bangladesh can face “serious consequences” of sanctions for taking deliveries of “stolen grain”, and that such purchases fuel “humanitarian suffering.”

    The sanctions “may extend beyond importing companies and could also target government officials and the leadership of ministries and agencies who knowingly facilitate or tolerate such violations,” the letter added.

    In a statement to Reuters, Anitta Hipper, EU Spokesperson for Foreign Affairs and Security Policy, said the vessels in question were not currently subject to any restrictive measures.

    The sanctions regime was designed to act against activities that undermine the food security of Ukraine including transportation of “stolen Ukrainian grain” and “any proven involvement of vessels in shipping stolen Ukrainian grain could provide the basis for future restrictive measures,” she added.

    The Russia-controlled territories, excluding Crimea, accounted for about 3% of the total Russian grain harvest in 2024, according to Reuters’ estimates based on official Russian data. Russian grain transporter Rusagrotrans says Bangladesh was the fourth largest buyer of Russian wheat in May.

    Ambassador Polishchuk told Reuters their intelligence shows Russia mixes its grain with that from occupied Ukrainian territories to avoid detection.

    A Russian trader, who spoke on condition of anonymity, said that when the grain is loaded for export at a Russian port, it is very difficult to track its origin.

    “These are not diamonds or gold. The composition of impurities does not allow for identification,” the person said.

    (Reuters)

  • MIL-OSI Africa: PH Embassy in Rabat, Kontra-GaPi Hosts Music and Dance Workshops for Moroccan Students


    Download logo

    The Kontemporaryong Gamelan Pilipino (Kontra-GaPi), a Filipino performing arts ensemble from the University of the Philippines, in their visit to Morocco organized by the Philippine Embassy in Rabat, conducted a series of interactive workshops for Moroccan students to promote Philippine music and dance. Professor Pedro Abraham, Jr., founder of Kontra-GaPi, expressed elation at the opportunity to promote Philippine culture as their visit coincided with the celebration of the 50th anniversary of Philippine-Moroccan relations.

    At the workshop held on 20 June 2025 at Ecole Internationale de Musique et Danse (EIMD), young Moroccan musicians aged 8 to 13 tried their hands at playing various indigenous instruments such as kulintang, gangsa, tongatong, angklung, kubing, eliciting smiles in their faces. Parents in attendance expressed gratitude to the Embassy for giving their children a rare and unforgettable experience and even shared their intention to visit the Philippines afterwards.

    On 21 June 2025, another workshop was held at the Dati Drouk dance studio where Professor Abraham said “I admire Morocco’s rich history, which spans more than 5,000 years—about the same length as the Philippines’ pre-colonial history. I believe that music and dance transcend national boundaries, and I hope to share with you the rich traditions of Filipino gamelan music and indigenous dance.”

    Energized by the brief performance of Kontra-GaPi and the workshop that followed, the members of Dati Drouk performed a full dance sequence composed of movements from various Filipino ethno-linguistic groups. The workshop culminated in a spontaneous cultural exchange, as Dati Drouk members responded with an extemporaneous dance performance to the hypnotic rhythms of gnaoua music.

    EIMD is a premier institution in Rabat offering comprehensive music, dance, and theater training for over 1,500 students annually and supporting both aspiring professionals and amateurs. On the other hand, Dati Drouk is the first institution in Morocco offering structured professional training in contemporary dance.

    The two workshops were conducted on top of the performances of Kontra-GaPi before the Diplomatic Corps on 17 June 2025 and the Filipino community on 22 June 2025. Philippine Ambassador to Morocco Leslie Baja expressed great satisfaction at the opportunity to showcase Philippine culture, saying that “culture is a bridge linking the Philippines and Morocco”.

    Distributed by APO Group on behalf of Department of Foreign Affairs, Republic of the Philippines.

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: Language campaign concludes

    Source: Hong Kong Information Services

    The Education Bureau and the Standing Committee on Language Education & Research (SCOLAR) today held the “Closing & Award Presentation Ceremony of the Biliteracy & Trilingualism Campaign 2025”.

    The ceremony was attended by around 400 people, including guests from the business sector, the arts and cultural sector, and community organisations, as well as teachers, parents and students. The awards celebrated efforts to promote biliteracy and trilingualism in Hong Kong over the past six months.

    Officiating at the event, Secretary for Education Choi Yuk-lin said that as an international metropolis where East meets West, Hong Kong requires a large pool of biliterate and trilingual talent to fulfill its role as a “super connector”.

    She added that languages are crucial to the city’s status as an international education hub in the Asia-Pacific region and beyond, and emphasised that biliteracy and trilingualism are essential for the city’s development of the “eight centres” outlined in the National 14th Five-Year Plan, and for seizing opportunities arising from the Belt & Road Initiative and the development of the Greater Bay Area.

    “Under the ‘one country, two systems’, biliteracy and trilingualism stands as one of the advantages of education in Hong Kong,” she said.

    The education chief outlined that over the years, the bureau and SCOLAR have worked together to promote biliteracy and trilingualism. Measures introduced in recent years have allowed teachers to improve their Putonghua proficiency with help from the Language Fund.

    Additionally, a one-off grant has been provided to schools for the promotion of self-directed language learning of English and Putonghua by students.

    Ms Choi said that through the collective efforts, Hong Kong’s language and talent capital can be strengthened, enabling the city to fully leverage its advantages of enjoying the strong support of the motherland while being closely connected to the world.

    The results of a one-minute video production competition were presented. The award-winning works were produced by students who integrated different creative elements.

    The event also gave the winners the opportunity to share their insights with attendees.

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Scheduled Banks’ Statement of Position in India as on Friday, June 13, 2025

    Source: Reserve Bank of India

    (Amount in ₹ crore)
      SCHEDULED COMMERCIAL BANKS
    (Including RRBs, SFBs and PBs)    		 ALL SCHEDULED BANKS
    14-Jun-2024 30-May-2025* 13-Jun-2025* 14-Jun-2024 30-May-2025* 13-Jun-2025*
    I LIABILITIES TO THE BKG.SYSTEM (A)            
      a) Demand & Time deposits from banks 273308.16 365140.08 340603.24 277097.38 370999.12 346319.8749**
      b) Borrowings from banks 152185.60 110552.25 109671.80 152187.60 110574.25 109889.53
      c) Other demand & time liabilities 76032.19 25071.47 23927.34 76298.36 25465.93 24362.82
    II LIABILITIES TO OTHERS (A)            
      a) Deposits (other than from banks) 20902918.17 23172542.62 23069772.55 21358407.93 23662773.91 23561872.69
      i) Demand 2390694.11 2988920.70 2859239.01 2440672.19 3038379.44 2908818.31
      ii) Time 18512224.06 20183621.92 20210533.54 18917735.75 20624394.47 20653054.38
      b) Borrowings @ 780674.69 895727.00 837462.68 785083.63 900193.89 841977.70
      c) Other demand & time liabilities 965607.06 1034573.60 1106232.23 978521.91 1047707.96 1120178.02
    III BORROWINGS FROM R.B.I. (B) 111102.00 6516.00 2248.00 111102.00 6516.00 2248.00
      Against usance bills and / or prom. Notes            
    IV CASH 85283.14 87179.07 90471.61 87674.97 89604.92 93073.93
    V BALANCES WITH R.B.I. (B) 983708.00 956086.24 932453.46 1003434.00 975236.91 951630.59
    VI ASSETS WITH BANKING SYSTEM            
      a) Balances with other banks            
      i) In current accounts 7664.17 11434.59 10498.68 10483.91 13853.23 12729.59
      ii) In other accounts 178513.58 255330.58 244036.86 224431.26 318135.43 308394.18
      b) Money at call & short notice 11390.08 22812.64 21743.92 25192.27 40349.51 37684.89
      c) Advances to banks (i.e. due from bks.) 52270.19 36147.80 31496.42 54389.85 38542.46 33717.34£
      d) Other assets 107937.02 78091.66 65849.37 110591.29 82799.25 71109.15
    VII INVESTMENTS (At book value) 6231385.82 6706717.24 6691443.60 6384112.72 6861687.28 6877810.85
      a) Central & State Govt. securities+ 6230374.06 6706168.85 6690874.45 6376135.84 6853140.23 6869498.86
      b) Other approved securities 1011.77 548.39 569.14 7976.88 8547.05 8311.99
    VIII BANK CREDIT (Excluding Inter-Bank Advances) 16706417.54 18287376.91 18313977.69 17143118.18 18753740.95 18783780.83
      a) Loans, cash credits & Overdrafts $ 16392988.28 17949958.34 17976567.95 16826405.29 18412982.24 18443143.24
      b) Inland Bills purchased 64052.90 79467.07 78124.27 65383.33 80743.89 79300.44
      c) Inland Bills discounted 208278.98 222449.12 223752.50 209565.71 223956.61 225217.50
      d) Foreign Bills purchased 16140.00 13866.49 13510.87 16370.65 14063.24 13738.06
      e) Foreign Bills discounted 24957.38 21635.89 22022.09 25393.21 21994.97 22381.60
    NOTE
    * Provisional figures incorporated in respect of such banks as have not been able to submit final figures.
    (A) Demand and Time Liabilities do not include borrowings of any Scheduled State Co-operative Bank from State Government and any reserve fund deposits maintained with such banks by any co-operative society within the areas of operation of such banks.
    ** This excludes deposits of Co-operative Banks with Scheduled State Co-operative Banks. These are included under item II (a).
    @ Other than from Reserve Bank, National Bank for Agriculture and Rural Development and Export Import Bank of India.
    (B) The figures relating to Scheduled Commercial Banks’ Borrowings in India from Reserve Bank and balances with Reserve Bank are those shown in the statement of affairs of the Reserve Bank. Borrowings against usance bills and/ or promissory notes are under Section 17(4)(c) of the Reserve Bank of India Act, 1934. Following a change in the accounting practise for LAF transactions with effect from July 11, 2014, as per the recommendations of Malegam Committee formed to Review the Format of Balance Sheet and the Profit and Loss Account of the Bank, the transactions in case of Repo / Term Repo / MSF are reflected under ‘Borrowings from RBI’.
    £ This excludes advances granted by Scheduled State Co-operative Banks to Co-operative banks. These are included under item VIII (a).
    + Includes Treasury Bills, Treasury Deposits, Treasury Savings Certificates and postal obligations.
    $ Includes advances granted by Scheduled Commercial Banks and Scheduled Cooperative Banks to Public Food Procurement Agencies (viz. Food Corporation of India, State Government and their agencies under the Food consortium).
    Food Credit Outstanding as on
    (Amount in ₹ crore)
    Date 14-Jun-2024 30-May-2025 13-Jun-2025
    Scheduled Commercial Banks 36923.02 70580.71 67605.56
    Scheduled Co-operative Banks 50622.17 51972.99 51974.00

    The expression ‘Banking System’ or ‘Banks’ means the banks and any other financial institution referred to in sub-clauses (i) to (vi) of clause (d) of the explanation below Section 42(1) of the Reserve Bank of India Act, 1934.

    No. of Scheduled Commercial Banks as on Current Fortnight:120

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/606

    MIL OSI Economics –

  • MIL-OSI Economics: Deputy Secretary-General of ASEAN attends the 46th Asia-Europe Foundation Board of Governors Meeting

    Source: ASEAN

    Deputy Secretary-General of ASEAN for Community and Corporate Affairs, Nararya S. Soeprapto, attended the 46th Asia-Europe Foundation Board of Governors Meeting (ASEFBoG46) on 26-27 June 2025 in Kraków, Poland. The Meeting noted the report on the work of the ASEF Management, reviewed the implementation of ASEF’s ongoing initiatives, and approved its project proposals for 2025 and 2026. The Board of Governors also deliberated ways to enhance ASEF’s visibility and profile, and to further promote cultural and people-to-people connectivity between Asia and Europe.

    The post Deputy Secretary-General of ASEAN attends the 46th Asia-Europe Foundation Board of Governors Meeting appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Banking: Deputy Secretary-General of ASEAN attends the 46th Asia-Europe Foundation Board of Governors Meeting

    Source: ASEAN

    Deputy Secretary-General of ASEAN for Community and Corporate Affairs, Nararya S. Soeprapto, attended the 46th Asia-Europe Foundation Board of Governors Meeting (ASEFBoG46) on 26-27 June 2025 in Kraków, Poland. The Meeting noted the report on the work of the ASEF Management, reviewed the implementation of ASEF’s ongoing initiatives, and approved its project proposals for 2025 and 2026. The Board of Governors also deliberated ways to enhance ASEF’s visibility and profile, and to further promote cultural and people-to-people connectivity between Asia and Europe.

    The post Deputy Secretary-General of ASEAN attends the 46th Asia-Europe Foundation Board of Governors Meeting appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • US stock futures rise ahead of inflation data as investors anticipate dovish Fed

    Source: Government of India

    Source: Government of India (4)

    U.S. stock index futures surged on Friday, putting the S&P 500 and the Nasdaq on track for record highs as investors geared up for a key inflation report amid signs of a dovish policy outlook from the Federal Reserve this year.

    Personal Consumption Expenditure data – the U.S. central bank’s preferred inflation gauge – for May is due to be released at 08:30 a.m. ET and will be scrutinized to assess the Fed’s interest-rate path as tariffs weigh on prices.

    As the ceasefire in the Middle East holds, investor focus has turned to the prospect of a dovish Fed after the Wall Street Journal reported that U.S. President Donald Trump toyed with the idea of announcing Fed Chair Jerome Powell’s replacement by September or October.

    “News that Donald Trump may announce his pick to be the new Fed chair with months to go has led the interest rate futures market to ramp up bets that interest rates in the U.S. will be cut sharply over the coming months and years,” Kathleen Brooks, research director at XTB, said in a note.

    A spate of economic data this week, including a weaker-than-expected first quarter GDP reading as well as jobless claims reaching multi-year highs, has supported the case for the central bank to cut borrowing costs this year.

    Traders now price in a 20.7% chance of a rate cut in July, compared with 14.5% last week, according to CME Group’s FedWatch tool.

    At 06:30 a.m. ET, Dow E-minis YMcv1 were up 103 points, or 0.24%, S&P 500 E-minis EScv1 were up 13.5 points, or 0.22%, and Nasdaq 100 E-minis NQcv1 were up 63.5 points, or 0.28%.

    Nike’s NKE.N shares rose 9.2% in premarket trading after the retailer forecast a smaller-than-expected drop in first-quarter revenue.

    Retailer Lululemon Athletica LULU.O rose 1.4% after Nike’s results, while Hoka-owner Deckers Outdoor DECK.N added 2.1%.

    On the flip side, gold stocks slipped in premarket trading as bullion neared a one-month low. Top miners such as Newmont NEM.N and U.S.-listed Barrick Mining B.N were down 2.3% and 2%, respectively.

    The benchmark S&P 500 .SPX and the Nasdaq .IXIC are on track for their best weekly performance in six weeks, while the blue-chip Dow .DJI is set for a weekly advance, if gains hold.

    UBS Global Wealth Management raised its year-end target for the S&P 500 index .SPX to 6,200 from its prior forecast of 6,000, banking on softening trade uncertainty.

    Adding to the upbeat sentiment, Washington reached an agreement with China on expediting rare-earth shipments to the United States, a White House official said, days ahead of the July 9 deadline for Trump’s “reciprocal” tariffs.

    Also on tap is the final reading of consumer sentiment for June, measured by the University of Michigan Surveys of Consumers, due at 10:00 a.m. ET.

    Remarks from New York Fed President John Williams, Cleveland Fed President Beth Hammack and Fed Board Governor Lisa Cook are expected later in the day.

    (Reuters)

  • MIL-OSI Security: France’s Ballestrazzi becomes first female President of INTERPOL

    Source: Interpol (news and events)

    8 November 2012

    ROME, Italy – INTERPOL’s 81st General Assembly has closed with delegates electing as the new President of INTERPOL Mireille Ballestrazzi, Deputy Central Director of the French Judicial Police.

    In a symbolic gesture, the INTERPOL flag is handed to a Colombian official, looking ahead to the 2013 General Assembly in Cartagena.

    Mireille Ballestrazzi said she felt a great sense of pride and joy to have been elected as the INTERPOL President and looked forward to serving all of INTERPOL’s 190 member countries.

    Outgoing INTERPOL President Khoo Boon Hui reflects on his time with the Organization.

    Delegates endorsed a series of resolutions on issues including maritime piracy, illicit trafficking in cultural property, the INTERPOL Travel Document, cybercrime and trafficking in illicit goods.

    Current members of the INTERPOL Executive Committee.

    The Italian authorities hosted a successful General Assembly.

    Elected as Vice President for the Americas was Alan Bersin, Assistant Secretary of International Affairs for the U.S. Department of Homeland Security (right).

    Nobuyuki Kawai, Director of the Organized Crime Department of the National Police Academy of Japan, was elected as Vice President for Asia.

    Mireille Ballestrazzi, Deputy Central Director of the French Judicial Police, was elected as the new President of INTERPOL by delegates at the 81st General Assembly.

    Italian Minister of Interior Annamaria Cancellieri, left, and INTERPOL President Mireille Ballestrazzi. 

    INTERPOL Secretary General Ronald K. Noble thanks outgoing President Khoo Boon Hui for his four years of service to the Organization.

    Mrs Ballestrazzi said she felt a great sense of pride and joy to have been elected as the President of INTERPOL and looked forward to serving all of INTERPOL’s 190 member countries in ‘an unfailing spirit to promote mutual assistance and solidarity’.

    “I am wholly committed to the fundamental role INTERPOL must play in global police cooperation. By establishing the INTERPOL Global Complex for Innovation and leading other recent initiatives, INTERPOL has placed itself at the forefront of innovation which I will continue to fully support. There is no doubt that this direction will open up drastically new perspectives for INTERPOL and its member countries worldwide as we face together the challenges of today and tomorrow.”

    The President of the Organization heads its Executive Committee and is elected by the General Assembly for a period of four years.

    INTERPOL Secretary General Ronald K. Noble welcomed President Ballestrazzi’s appointment as another example of INTERPOL’s evolution, reflecting the active role of both men and women in the international law enforcement community.

    “As the world’s largest police organization, it is essential that INTERPOL’s leadership offers the best policing and expertise to its 190 member countries in order to meet their needs,” said Mr Noble.

    “Mireille Ballestrazzi’s appointment as President of INTERPOL comes at a time when countries are adapting to the realities of the changing nature of transnational organized crime in the 21st century.

    “She brings invaluable experience in cross-border police collaboration to her role, as well as proven leadership abilities, and I look forward to working closely with her to ensure that INTERPOL continues to provide innovative responses to meet the needs of our member countries, ” added the INTERPOL Chief.

    Paying a warm tribute to outgoing President Khoo Boon Hui of Singapore, Mr Noble said Mr Khoo would be remembered as ‘a champion and driving force of international law enforcement cooperation’.

    Also elected to the Executive Committee were Alan Bersin, Assistant Secretary of International Affairs for the U.S. Department of Homeland Security (Vice President for the Americas), Nobuyuki Kawai, Director of the Organized Crime Department of the National Police Academy of Japan (Vice President for Asia), Algeria’s Abdelkader Kara Bouhadba, Commissaire Divisionnaire de Police, Directeur de la  Police Judiciaire (Delegate for Africa), Bob Paulson, Commissioner of the Royal Canadian Mounted Police (Delegate for the Americas), Jong Yang Kim of the Korean National Police Agency and Head of INTERPOL’s National Central Bureau in Seoul (Delegate for Asia), Brigadier General Saoud Abdallah Al-Mahmoud, Director of the International Cooperation Department of Qatar’s Ministry of Interior (Delegate for Asia), and Filippo Dispenza, Brigadier General of the Italian National Police (Delegate for Europe).

    The four-day conference (5 – 8 November) in Rome was  launched with a Ministerial meeting attended by close to 100 global leaders who endorsed a joint declaration recognizing the need to identify viable strategies to effectively address the changing modes of contemporary criminal violence.

    During the conference, more than 1,000 delegates from some 170 countries endorsed a series of resolutions to build a modern framework for collective action, including on maritime piracy, illicit trafficking in cultural property, the INTERPOL Programme to Combat Trafficking in Illicit Goods launched earlier this year, the INTERPOL Travel Document and cybercrime.

    A groundbreaking initiative by INTERPOL to support the safety and security of the 2022 FIFA World Cup in Qatar and other major sporting events over the next 10 years was also launched following an agreement with the Qatar 2022 Supreme Committee worth USD 10 million.

    With Cartagena, Colombia, hosting INTERPOL’s next General Assembly in 2013, conference delegates closed the event by selecting Monaco as the venue for INTERPOL’s 83rd General Assembly in 2014, which will mark the 100th anniversary of the first International Criminal Police Congress.

    MIL Security OSI –

  • MIL-OSI Security: Greece to prosecute first maritime piracy case with evidence gathered by INTERPOL team

    Source: Interpol (news and events)

    12 December 2012

    LYON, France – Evidence gathered by an INTERPOL Incident Response Team (IRT) following the release of the hijacked oil tanker Irene SL in April 2011 is to be used by Greece in its first maritime piracy prosecution.

    Lieutenant General Papagiannopoulos was shown INTERPOL’s Command and Coordination Centre.

    A delegation from Greece, headed by Chief of the Hellenic Police, Lieutenant General Nikolaos Papagiannopoulos (centre), visited the INTERPOL General Secretariat in Lyon.

    INTERPOL Secretary General, Ronald K. Noble (right), pledged his full support to Greek law enforcement.

    The announcement comes during a meeting between Chief of the Hellenic Police Lieutenant General Nikolaos Papagiannopoulos and INTERPOL Secretary General Ronald K. Noble at the world police body’s General Secretariat headquarters to identify ways for additional support to be provided to the Greek police.

    The IRT, supported by the South African Police Service and in coordination with European Union Naval Force (EU NAVFOR) and INTERTANKO, was deployed to Durban in South Africa to conduct a crime scene investigation and debriefing of the hostages on board the Irene SL, following its release by Somali pirates 58 days after the vessel was hijacked off the coast of Oman.

    Several of the crew members on board were also able to identify four of their captors from an INTERPOL photo album on maritime piracy, containing images provided by member states and naval forces operating in the Gulf of Aden and the Western Indian Ocean.

    Secretary General Noble said that the case perfectly highlighted the benefits that INTERPOL brings to member countries and how information sharing and a collaborative approach is essential to addressing crime issues anywhere in the world.

    “In these times of financial constraint the added value that INTERPOL and its global network brings to individual countries and global security is even clearer,” said the INTERPOL Chief.

    “INTERPOL will continue to provide every support to Greece, and also calls on the global law enforcement community, countries and regional institutions to identify areas where they can support Greece in meeting the crime challenges which affect us all,” added Mr Noble.

    Lieutenant General Papagiannopoulos said ‘the opportunities for international law enforcement cooperation through INTERPOL help increase the effectiveness of national police services.’

    “Today’s meeting with Secretary General Noble provided us with the opportunity to explore ways of building on our existing cooperation and to identify ways for future development together,” added Mr Papagiannopoulos.

    During his visit, Mr Papagiannopoulos – accompanied by Brigadier General Zacharoula Tsirigoti, Director of the International Police Cooperation Directorate, and Brigadier General Dimitrios Sofios, Deputy Director of the Attika Criminal Investigation Department – was also updated and briefed on a range of INTERPOL’s tools and services including its global database to enhance police cooperation in areas such as combating illegal immigration and trafficking in human beings.

    MIL Security OSI –

  • MIL-OSI Security: INTERPOL-Europol operation results in global seizures of fake and illicit food

    Source: Interpol (news and events)

    14 December 2012

    A joint INTERPOL-Europol operation targeting fake and substandard food and drink, as well as the organized crime networks behind this illicit trade, has resulted in the seizure of more than 135 tonnes of potentially harmful goods ranging from everyday products of coffee, soup cubes and olive oil, to luxury goods such as truffles and caviar. A further 100 tonnes of misdeclared and/or potentially hazardous food was confiscated during investigations linked to Operation Opson II.

    Raids and inspections resulted in around 100 arrests and the seizure of more than 135 tonnes of potentially harmful goods, including everyday products such as coffee, soup cubes and olive oil.

    Illicit goods are often produced, transported and stored without any form of hygiene controls, putting the health and safety of consumers at risk.

    This year, Opson expanded beyond Europe to include countries in Africa, the Americas and Asia. Inspections were carried out at this warehouse in Thailand.

    A project under development  –  the INTERPOL Global Register  – will enable people to scan and verify the legitimacy of a product from their mobile device.

    Operation Opson targets fake and substandard food and drink and the organized crime networks behind this illicit trade.

    Cash was also seized during Opson II.

    INTERPOL and Europol representatives helped coordinate action in Madrid, Spain.

    Checks and raids were carried out at airports, seaports, shops, markets and private homes.

    The operation was supported by customs (Hungarian customs officers pictured here), national food regulatory bodies and partners from the private sector.

    The Thai Food and Drug Administration displayed the wide variety of goods seized including snacks, canned food, coffee and soft drinks.

    National police in 29 countries took part. Officers in Budapest, Hungary, were briefed on the operation.

    Opson was a week-long operation, coordinated jointly by INTERPOL and Europol.

    Operation Opson II (3 – 9 December), which involved 29 countries from all regions of the world, resulted in the recovery of more than 385,000 litres of counterfeit liquids including vodka, wine, soy sauce and orange juice in addition to fish, seafood and meat declared unfit for human consumption, as well as fake candy bars and condiments.

    With the fake and substandard food and drink often produced, transported and stored without any form of regulation or hygiene controls, consumers buying these illicit goods are risking their health and safety while the criminal networks make millions in profits which can be used to fund other illegal activities such as human and drug trafficking.

    Operation Opson II saw the number of participating countries rise from 10 in 2011 to nearly 30 this year, an increase which, says Simone Di Meo, a Criminal Intelligence Officer with INTERPOL’s Trafficking in Illicit Goods unit, reflects a growing awareness of the problem and involvement by organized crime.

    “With this year’s operation going beyond Europe and involving countries in Africa, the Americas and Asia, this will enable us to gather even more intelligence about the networks behind this criminal activity and potentially identify global links with other types of crime,” says Mr Di Meo.

    Coordinated by INTERPOL and Europol, the week-long operation was supported by customs, police and national food regulatory bodies in addition to partners from the private sector. Checks and raids were carried out at airports, seaports, shops, markets and private homes.

    “With this operation, we are showing the criminal networks involved in this line of business that they are not safe and, just as importantly, we are helping to protect public health and safety. In many cases, the quality of the packaging of the fake food and drink is so well done that consumers may not even be aware that they are buying illicit products and potentially risking their lives,” says Chris Vansteenkiste, Project Manager of the Intellectual Property Crime Team at Europol.

    Among the key aims of Operation Opson (meaning food in ancient Greek) were the development of practical cooperation between national law enforcement, food and drug agencies and private companies, the identification of the organized criminal groups behind the trafficking, and raising awareness among consumers and governments about this type of crime.

    Countries which took part in Operation Opson II are Austria, Belgium, Benin, Bulgaria, Colombia, Côte d’Ivoire, Czech Republic, Cyprus, Denmark, France, Germany, Greece, Hungary, Iceland, Italy, Jordan, Latvia, the Netherlands, Nigeria, Portugal, Romania, Slovakia, South Africa, Spain, Sweden, Thailand, Turkey, United Kingdom and the USA.

    Investigations are continuing in many countries and additional information on national activities can be obtained from the enforcement agencies of the countries concerned.

    MIL Security OSI –

  • MIL-OSI: At the critical turning point of Bitcoin, JA Mining uses intelligent systems to help investors win steadily

    Source: GlobeNewswire (MIL-OSI)

    London, UK, June 27, 2025 (GLOBE NEWSWIRE) — JA Mining is redefining the investment logic of cloud mining. As a compliant platform certified by the UK FCA, JA Mining has launched a low-threshold, highly transparent digital asset mining service to the world, which does not require hardware or technology, can be deployed with one click, and has daily returns, truly realizing “making mining as simple as depositing money”.

    “Our mission is to make cryptocurrency investment truly part of the lives of ordinary people,” said a JAMining spokesperson. “The platform perfectly combines advanced trading logic with intuitive operations to provide users with a simple, safe and efficient digital investment entry.”

    Intelligently driven, zero-threshold experience

    It only takes a few minutes for new users to register and start trading. Register and receive your $100 to get familiar with the platform. When you know enough about it, you can invest and choose the contract plan that suits you.

    Compared with traditional manual trading, the new platform drives decision-making with data, avoids the risks caused by emotional fluctuations or market delays, and is more suitable for investors seeking stable returns and transparent operating experience.

    Multiple security, full transparency

    With its many years of experience in cloud mining security operations in Europe, North America and Asia, JAMining has built a financial-level security system for the platform, including offline cold wallet storage, end-to-end data encryption and multi-factor authentication mechanisms to fully protect user assets. The platform is authorized and regulated by the UK Financial Conduct Authority (FCA), further enhancing its legitimacy and user trust.

    The user interface is simple and intuitive, and you can view daily profits and account growth in real time. All historical transaction data can be tracked to ensure that every operation is open, verifiable and has no hidden costs or capital lock-up clauses.

    The following is the potential profit table of the platform contract:

    The platform will update the contract plan from time to time. For current plans, please visit ：www.jamining.com.

    Grasp the trend and move towards the mainstream

    Currently, Bitcoin is at a critical moment of stability but full of variables. Although the price has approached the historical high, the market liquidity is sufficient, and the investment sentiment continues to heat up, the upcoming large-scale option expiration event may become an important catalyst for the short-term trend. The next 48 hours may become a window period to determine the next stage of the trend.

    In such a market environment, it is particularly important to choose an efficient, intelligent and risk-controlled platform. JA Mining automated trading system relies on real-time data analysis and pattern recognition technology to accurately capture the price trends of mainstream currencies (such as Bitcoin). Even if users lack trading experience, they can steadily grasp the market rhythm and maximize their profits.

    Register now and use JA Mining to enter a new era of intelligent digital asset allocation, grasp the pulse of the market, and easily participate in the growth of global crypto wealth.

    Media Contact:
    JA Mining
    info@jamining.com
    www.jamining.com

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    The MIL Network –

  • MIL-OSI: Sale of Custody Business in Hsbc Germany

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    27 June 2025

    SALE OF CUSTODY BUSINESS IN HSBC GERMANY

    HSBC Continental Europe has reached an agreement to sell its custody business in Germany to BNP Paribas S.A, Niederlassung Deutschland (‘BNP Paribas’) (the ‘Potential Transaction’), reinforcing its focus on being the leading corporate and institutional bank in Germany and Europe for international clients.

    This decision forms part of the simplification strategy of HSBC announced in October 2024. HSBC is focused on increasing its leadership and market share in the areas where it has a clear competitive advantage, and where it has the greatest opportunity to grow and support its clients. This includes connecting European clients to opportunities across HSBC’s international network. For Securities Services, this means focusing on HSBC’s market-leading franchise in Asia and the Middle East and providing best in class custody and fund services to clients in the UK and Europe via our strategic hubs in London, Ireland and Luxembourg.

    The custody business in Germany focuses on domestic custody, clearing and depository services for German institutional clients.

    All custody staff employed by HSBC Continental Europe S.A., Germany, as well as its assets and clients, would transfer to BNP Paribas as part of the Potential Transaction.

    Completion of the Potential Transaction is subject to customary regulatory and anti-trust approvals and the conclusion of negotiations with the Works Council in Germany.

    A phased transfer of staff and clients starting early 2026 is anticipated. Both parties are focused on enabling a smooth transition for clients and colleagues.

    The analysis of strategic options for HSBC Germany’s fund administration business is ongoing.

    Contacts:       

    HSBC Continental Europe
    Headquartered in Paris, HSBC Continental Europe is an indirectly held subsidiary of HSBC Holdings plc. HSBC Continental Europe comprises corporate and institutional banking, private banking, insurance and asset management activities across Continental Europe, including the business activities of 10 European branches (in Belgium, Czech Republic, Germany, Ireland, Italy, Luxembourg, the Netherlands, Poland, Spain and Sweden) and two banking subsidiaries in Luxembourg and Malta. HSBC Continental Europe’s mission is to serve both customers in Continental Europe for their needs worldwide and Group customers for their needs in Continental Europe.

    HSBC Continental Europe S.A., Germany (‘HSBC Germany’)
    HSBC Germany is the German branch of HSBC Continental Europe, whose activities comprise corporate and institutional banking, private banking and asset management.

    HSBC Holdings plc
    HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 58 countries and territories. With assets of US$3,054bn at 31 March 2025, HSBC is one of the world’s largest banking and financial services organisations.

    About BNP Paribas (group.bnpparibas)
    Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

    About Securities Services at BNP Paribas (securities.cib.bnpparibas)
    BNP Paribas’ Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates, and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide. As a pillar of BNP Paribas’ diversified banking model, Securities Services provides asset servicing solutions that are closely integrated with the first-class services of the Group’s other business lines, in particular those of Global Banking and Global Markets. As of 31 March 2025, Securities Services had USD 15.4 trillion in assets under custody, USD 2.9 trillion in assets under administration and 9,350 funds administered.

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    The MIL Network –

  • MIL-OSI Economics: Big Dreams Take Flight: Delhi-NCR and Chandigarh Youth Shine at Samsung Solve for Tomorrow Open House

    Source: Samsung

    Samsung Solve for Tomorrow applicants at Chandigarh University
     
    In the buzzing classrooms of Khaitan Public School, spirited debates and whiteboard sketches gave way to something bigger — a new generation of changemakers emerging through Samsung Solve for Tomorrow. The national innovation contest, launched on April 29, 2025, continues to energize students across the country, and its recent roadshows in Ghaziabad, Delhi, Noida and Chandigarh are proving just how powerful young minds can be when given the right tools.
     
    The Samsung Solve for Tomorrow programme empowers 14-22-year-olds to identify real-world problems and build tech-based solutions using design thinking. The winning four teams receive INR 1 crore, expert mentorship from Samsung and IIT Delhi, investor connects, and prototyping support to help them bring their vision to life.
     
    In recent weeks, the Samsung team engaged with students at Khaitan Public School in Ghaziabad, Lingua Institute and Galgotias College in Delhi, and ITS College in Noida, sparking curiosity and inviting questions from teens eager to make a difference.
     
    For Ishita, a class 12 student from Khaitan Public School, the roadshow was a wake-up call. “I always thought innovation was something for scientists or tech giants. But now I see that even a student like me can solve a local issue using creativity and tech,” she said, already brainstorming a solution around water conservation in her locality.
     
    Her classmate Tanya Chaudhary came in with a rough idea to help senior citizens navigate healthcare access. “After the session, I feel like I finally know how to start. Samsung Solve for Tomorrow gave me the confidence to build something that matters,” said Tanya.
     
    Astha Nautiyal, also from Khaitan, wants to use AI to address the rise in teenage anxiety. “Mental health is something we all deal with, but no one talks about it enough. I want to create something that helps teens feel seen and supported,” she said.
     
    Enthusiasm was at its peak at Khaitan Public School in New Delhi
     
    At Galgotias, students discussed a range of topics — from pollution control to AI-based traffic solutions. One group even explored using recycled materials to build smart street furniture that serves both utility and sustainability goals.
     
    The open houses weren’t just information sessions — they were a platform for exchange, inspiration, and self-belief. Students walked out not just with ideas, but with a roadmap.
     
    “Through Solve for Tomorrow, I got the opportunity to treat my ideas not just as a concept but a working prototype. What started as a classroom project is now being shaped with feedback from mentors and experts across disciplines. Meeting other young innovators has been incredibly motivating—it made me believe that with the right support, even students like me can solve real-world problems that impact millions. I am really motivated to apply,” said Mahak Singh, Chandigarh University.
     
    As the roadshows continue to roll across India, these open houses in Delhi-NCR are proving that innovation doesn’t start in labs — it starts in classrooms, in conversations, and in the minds of students who dare to ask what if?
     
    Samsung Solve for Tomorrow isn’t just shaping ideas — it’s shaping a generation that’s ready to solve, lead, and inspire.

    MIL OSI Economics –