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Category: Asia Pacific

  • India set to outpace G7 economies, says Equirus report

    Source: Government of India

    Source: Government of India (4)

    A recent report by wealth management firm Equirus has underlined India’s structural economic strengths, stating the country is poised to outpace G7 economies in the coming years. The report suggests that global capital can no longer afford to ignore India’s evolving economic landscape.

    According to Equirus, India’s growth is being powered by strong macroeconomic fundamentals, government-led capital expenditure, a revival in rural consumption, and a structural shift in manufacturing. These factors, the report notes, are positioning India favourably amid a globally uncertain economic environment.

    Equirus Credence Family Office CEO Mitesh Shah said India is no longer just the fastest-growing economy on paper, but is structurally better placed than most of the G7 nations. He described this as a “seismic shift” in global economic dynamics. Highlighting the shift in global macro trends, Shah pointed out that India is expected to contribute over 15 per cent to global GDP growth between 2025 and 2030, whereas traditional global investment strategies are beginning to falter.

    The report outlines how India is benefiting from critical structural trends. These include a significant uptick in rural demand, where FMCG consumption in rural areas grew by 6 per cent, compared to 2.8 per cent in urban regions. In addition, government-led capital expenditure is set to increase by 17.4 per cent, alongside a Rs 2.5 lakh crore liquidity infusion currently underway.

    Over the last decade, the monthly per capita expenditure gap between rural and urban households has narrowed from 84 per cent to 70 per cent, further supporting the case for a consumption-led recovery in the Indian economy.

    Equirus also questions the continued relevance of the traditional 60/40 portfolio strategy, which divides assets between equities and bonds. In an increasingly fragmented global financial landscape, the report argues, dynamic and geography-spanning asset allocation is not just advisable but essential for both capital preservation and alpha generation.

    India’s rising global economic stature is evident in its growing contribution to global GDP growth, which now significantly exceeds that of Japan and Germany. The report also highlights broader global shifts that support India’s rise, including a decline of around 6 per cent in the Dollar Index (DXY) from its 2025 peak and stable crude oil prices near $70 per barrel, both of which help ease India’s import burden.

    On the manufacturing front, the report notes the gradual materialisation of the ‘China +1’ strategy. With multinational corporations like Apple moving parts of their iPhone production to India, the country is gaining from favourable cost structures, lower attrition rates, and stronger geopolitical alignment.

    India’s post-election economic outlook is also bolstered by a capex push led by both central and state governments. With a 17.4 per cent rise in capital spending and liquidity support via phased CRR cuts, the report sees these developments as a key force behind India’s economic momentum.

    -IANS

  • Khamenei vows punishment for Israel, no mention of US attack on Iran

    Source: Government of India

    Source: Government of India (4)

    Iran’s Supreme Leader Ayatollah Ali Khamenei on Monday, in his first reaction following the US strikes on Iranian nuclear sites, said that the punishment for Israel, referred to as the “Zionist enemy,” will continue.

    Calling the attacks “a big crime,” Khamenei warned of retaliation.

    Talking to X, he said, “The punishment continues. The Zionist enemy has made a big mistake, committed a big crime; it must be punished, and it is being punished; it is being punished right now.”

    The US strikes followed Israeli attacks launched on June 13 on various targets in Iran, including nuclear and military sites, killing several senior commanders, nuclear scientists, and civilians, Xinhua news agency reported.

    Iran has retaliated with missile and drone strikes on Israel. As of Saturday, more than 400 people have been killed and over 3,500 wounded in Iran, according to the Iranian Health Ministry. In Israel, authorities reported 24 fatalities.

    Late on Sunday, in the central Isfahan province, an Israeli drone strike killed three people in an ambulance, Iran’s ISNA news agency reported.

    The governor of Najafabad county, Hamidreza Mohammadi Fesharaki, was quoted by the agency as saying the vehicle was transporting a patient when it was hit.

    He reportedly added that all occupants, including the driver, patient, and companion, were killed.

    Earlier on Sunday, Israeli Prime Minister Benjamin Netanyahu affirmed that Israel would press ahead with its operations. “Israel will continue to operate at full tilt in both Iran and Gaza,” he said, vowing not to be “dragged into a war of attrition.”

    “We will not stop this historic operation before we achieve our goals,” Netanyahu stated.

    Meanwhile, the Iranian Parliament has voted in support of closing the Strait of Hormuz, one of the world’s most critical oil transit chokepoints, a day after US strikes on Iran’s nuclear facilities, according to media reports.

    Any final decision on retaliation, however, will rest with the country’s Supreme National Security Council, Khamenei.

    The parliament vote merely advises him of the option to pursue.

    The US strikes on three Iranian nuclear sites – dubbed “Operation Midnight Hammer”-in Isfahan, Fordow, and Natanz mark the first direct involvement of America in the escalating crises between Iran and Israel.

    The action has received backlash, with many citing the lack of Congressional approval for the military move.

    (With inputs from IANS)

  • MIL-OSI New Zealand: Making First Aid Training More Accessible: MediTrain Launches New Manual

    Source: Press Release Service

    Headline: Making First Aid Training More Accessible: MediTrain Launches New Manual

    MediTrain is proud to announce the release of its new First Aid Manual, Edition 5, part of a wider commitment to making first aid training accessible, engaging and effective for all learners across New Zealand.

    The post Making First Aid Training More Accessible: MediTrain Launches New Manual first appeared on PR.co.nz.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Familyr – Family Alert Smart Medical Alarms & GPS Safety Devices to Keep Kiwis Safe

    Source: Press Release Service

    Headline: Familyr – Family Alert Smart Medical Alarms & GPS Safety Devices to Keep Kiwis Safe

    A new generation of personal safety and medical alarms has officially launched in New Zealand, and it’s putting peace of mind in the palm of every Kiwi’s hand.

    The post Familyr – Family Alert Smart Medical Alarms & GPS Safety Devices to Keep Kiwis Safe first appeared on PR.co.nz.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: IAC presents deep-sea adventure in exciting and hilarious Korean multimedia theatre performance “Waiting!” in August (with photos)

    Source: Hong Kong Government special administrative region

    IAC presents deep-sea adventure in exciting and hilarious Korean multimedia theatre performance “Waiting!” in August  
         The story of “Waiting!” begins with a young girl, Bada, who longs to reunite with her fisherman father and unexpectedly embarks on an exciting and hilarious deep-sea adventure. After setting out alone to find her dad, Bada is swallowed by a whale, which takes her to its dark belly where she dances with various glowing underwater creatures.
     
         Using cardboard props and blacklight effects, the programme is set against the backdrop of a magnificent ship and vast ocean. With lively and humorous performances by the cast, the amazing show is full of fun and imagination without the need for words.
     
         Korean art group HADDANGSE, established in 2008, dedicates itself to creating imaginative and community-oriented theatrical works. The group emphasises audience participation, inviting viewers to become co-creators of the performance and experience the magic of immersive theatre. “Waiting!” has won the 2024 International Association of Theatre & Performing Arts for Children & Young People Seoul Children’s Theatre Grand Prize and Best Director Award.
     
         “Waiting!” will be staged at 7.30pm on August 1, 11am and 3pm on August 2, and 3pm on August 3 at the Hong Kong Cultural Centre Studio Theatre. Tickets priced at $280 and $340 are now available at URBTIX (www.urbtix.hk 
         For programme enquiries and concessionary schemes, please call 2370 1044 or visit the IAC website (    www.hkiac.gov.hk 
         This year’s IAC will run from July 11 to August 17, featuring a wide array of fun-filled educational programmes by overseas, Mainland and local art groups and artists. In addition to martial arts, acrobatics, dance, music, theatre and multimedia, the IAC will also offer film screenings, parent-child workshops, an online programme, an outreach performance and an exhibition.
    Issued at HKT 15:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Public consultation on enhancing regulation of licensed money lenders launched today

    Source: Hong Kong Government special administrative region

    Public consultation on enhancing regulation of licensed money lenders launched today 
         The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “The Government has been closely monitoring the market situation in the money lending sector to continuously review and enhance the prevailing regulatory measures, so as to induce more responsible lending behaviour among money lenders. We have proposed a number of measures in the consultation paper, with a view to stepping up efforts in addressing the issue of excessive borrowing and better protecting the public interest.”
     
         The consultation paper sets out key features of various proposed measures, including enhancing regulation of unsecured personal loans, strengthening protection for loan referees, optimising and improving the affordability assessment on borrowers in respect of unsecured personal loans, strengthening the complaint handling process, stepping up publicity and education, and enhancing the regulatory regime of money lenders.
     
         Members of the public are invited to give views on the proposals in the consultation paper. The FSTB will fully consider the comments received when finalising the proposals.
     
         The consultation paper is available on the webpage of the FSTB at www.fstb.gov.hk/fsb/en/publication/consult/consult-moneyLendersRegulation.html 
         Members of the public may submit views to the FSTB by email     money-lenders-consult@fstb.gov.hkIssued at HKT 15:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Over 700 job vacancies to be offered at Talent-Wise Inclusive Job Fair

    Source: Hong Kong Government special administrative region

    Over 700 job vacancies to be offered at Talent-Wise Inclusive Job Fair    
    More than 40 organisations ranging from small and medium-sized enterprises to large-scale corporations will participate in the two-day job fair, offering over 700 job vacancies from various industries, including those of information technology, finance, transport, catering, hotel, property management and social services, providing employment opportunities to various types of persons with disabilities.
     
    Over 20 organisations will set up booths and conduct recruitment each day. A wide variety of positions will be offered, including systems analyst, accounting assistant, clerk, technician, marketing assistant, customer service officer, room attendant, warehouse worker, railway technical trainee, automotive mechanic apprentice, graphic designer, library material maintenance assistant, cook, waiter, multi-skilled cleaner, property service assistant, laundry steam presser, hair therapist, beauty salon assistant and receptionist, etc. Job seekers can visit the LD’s Interactive Selective Placement Service Website (www.jobs.gov.hk/isps    
    Job seekers can submit applications during the event and may be able to attend on-the-spot interviews. They can also make enquiries on and register for the employment services provided for persons with disabilities by the LD’s Selective Placement Division at its counter inside the venue.
        
    The job fair will be held from 10.30am to 5pm at G/F, TungPo of TWGHs in San Po Kong, Kowloon (accessible via Kai Tak Station or Diamond Hill Station of MTR). Admission is free, with final admission time at 4.30pm each day.
    Issued at HKT 15:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: EPD convictions in May

    Source: Hong Kong Government special administrative region

    EPD convictions in May 
         Five of the convictions were under the Air Pollution Control Ordinance, two of the convictions were under the Environmental Impact Assessment Ordinance, four were under the Noise Control Ordinance, seven were under the Public Cleansing and Prevention of Nuisances Regulation, 16 were under the Waste Disposal Ordinance and two were under the Water Pollution Control Ordinance.
     
         A company was fined $30,000, which was the heaviest fine in May, for importing controlled waste without a permit.
    Issued at HKT 15:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Overseas study scholarships open

    Source: Hong Kong Information Services

    The Sir Edward Youde Memorial Fund Council is inviting applications for its overseas fellowships and scholarships for the 2026-27 academic year.

     

    The fellowships and scholarships aim to encourage outstanding students to pursue further studies at reputable institutions overseas.

     

    Successful candidates are expected to contribute to Hong Kong and be ready to give back to the community upon graduation.

     

    The fellowships are for studies leading to postgraduate degrees either by research or coursework. The maximum value of a fellowship is $300,000 per year, tenable for up to three years for a doctoral degree or two years for a master’s degree.

     

    The scholarships are for studies leading to undergraduate degrees with a maximum value of a scholarship $280,000 per year, tenable for up to three years.

     

    Applicants are responsible for fulfilling all application procedures and admission requirements of the academic institutions of their choice.

     

    The application period will end on September 5 and shortlisted applicants will be invited to attend interviews in Hong Kong. The first round of interviews is scheduled for December this year or January next year.

     

    Application forms and guidance notes for the applications are available on the Working Family & Student Financial Assistance Agency’s Student Finance Office website.

     

    Applications have to be completed and submitted online at the GovHK website.

     

    Call 2150 6097 or 2150 6098 for enquiries.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: China to announce plans for marking 80th anniversary of victory against Japanese aggression, fascism

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

    China to announce plans for marking 80th anniversary of victory against Japanese aggression, fascism

    BEIJING, June 23 — China’s State Council Information Office will hold a press conference at 10 a.m. Tuesday to unveil plans for marking the 80th anniversary of the victory in the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War.

    MIL OSI China News –

  • MIL-OSI China: S. Korean president’s approval rating hits about 70%

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

    South Korean President Lee Jae-myung’s approval rating hit about 70 percent last week, a weekly poll showed Monday.

    Support for Lee, who took office on June 4, reached 73.4 percent last week, while the negative assessment on Lee’s conduct of state affairs stood at 23.6 percent, according to computer assisted telephone interviewing (CATI) by local pollster Flower Research.

    The ruling liberal Democratic Party’s approval score recorded this year’s high of 53.7 percent, 28.5 percentage points higher than the conservative opposition People Power Party’s 25.2 percent.

    Support rate for both the minor left-leaning Rebuilding Korea Party and the minor rightist New Reform Party logged 4.2 percent last week.

    The pollster’s separate survey of automated response system (ARS) showed that Lee’s approval rating came to 69.1 percent last week.

    Both the CATI and the ARS surveyed 1,006 voters from Friday to Saturday. They had plus and minus 3.1 percentage points in margin of error with a 95-percent confidence level. 

    MIL OSI China News –

  • NCRTC completes trial run of Namo Bharat train from Delhi to Meerut

    Source: Government of India

    Source: Government of India (4)

    The National Capital Region Transport Corporation (NCRTC) has successfully completed a scheduled trial run of the Namo Bharat train across the entire corridor from Sarai Kale Khan in Delhi to Modipuram in Meerut. The full 82 km stretch was covered in under an hour.

    During the trial, Namo Bharat trains ran alongside Meerut Metro trains, with both systems performing successfully. This marks a major milestone in the operational readiness of India’s first Namo Bharat corridor, which connects Delhi, Ghaziabad, and Meerut.

    The Namo Bharat trains operated smoothly at their maximum operational speed of 160 km per hour, stopping at every station along the route between Sarai Kale Khan and Modipuram. The journey was completed as per NCRTC’s targeted schedule.

    The corridor features the world’s first deployment of the advanced ETCS Level 3 hybrid signalling system over an LTE backbone. The system, which is fully integrated with platform screen doors (PSDs) at every station, passed all tests without any interruptions, underlining the corridor’s technological readiness.

    Currently, a 55 km stretch of the corridor, comprising 11 stations, is operational for passengers. Final finishing work and trial runs are underway on the remaining segments — the 4.5 km stretch between Sarai Kale Khan and New Ashok Nagar in Delhi, and the approximately 23 km section from Meerut South to Modipuram.

    This successful trial is a major step toward the full commissioning of the Namo Bharat corridor.

    Meanwhile, trial runs of the Meerut Metro between Meerut South and the Modipuram Depot are also progressing rapidly. This project marks the first time in India that local metro services will operate on the same infrastructure as regional rapid transit trains.

    The 23 km Meerut Metro section includes 13 stations, with 18 km of elevated track and 5 km running underground.

    — ANI

  • Israeli forces recover bodies of three hostages from Gaza

    Source: Government of India

    Source: Government of India (4)

    Israeli forces have recovered the bodies of three hostages which had been held in the Gaza Strip since the Palestinian militant group Hamas’ 2023 attack, the military and Prime Minister Benjamin Netanyahu said on Sunday.

    The hostages were identified as civilians Ofra Keidar and Yonatan Samerano, and soldier Shay Levinson. All were killed on the day of the attack, on October 7, 2023, the military said.

    With their retrieval, 50 hostages now remain in Gaza, only 20 of whom are believed to be alive.

    The abduction of Samerano, 21 at the time of his death, by a man later identified by Israeli officials as a worker at the U.N.’s Palestinian refugee agency UNRWA, was caught on CCTV.

    Around 1,200 people were killed and 251 taken hostage during the Hamas-led attack on southern Israel, according to Israeli authorities.

    The subsequent Israeli campaign against Hamas in Gaza has since killed more than 55,000 Palestinians, according to health authorities in the Hamas-run strip, displaced almost the entire 2.3 million population, plunged the enclave into humanitarian crisis and left much of the territory in ruins.

    (Reuters)

  • MIL-OSI Asia-Pac: Projects jointly funded by Guangdong-Hong Kong and Shenzhen-Hong Kong under Mainland-Hong Kong Technology Cooperation Funding Scheme open for application

    Source: Hong Kong Government special administrative region

    Projects jointly funded by Guangdong-Hong Kong and Shenzhen-Hong Kong under Mainland-Hong Kong Technology Cooperation Funding Scheme open for application 
         All applications must fit the specific themes/topics, and be submitted simultaneously by the Hong Kong and Mainland applicant organisations to the ITC and relevant Mainland authorities respectively.
     
         To facilitate participating institutes and companies in submitting funding applications, the Mainland-Hong Kong Joint Funding Scheme and the Guangdong-Hong Kong Technology Cooperation Funding Scheme have been merged as the MHKTCFS to support and encourage collaboration among universities, research institutes and technology enterprises in Hong Kong and Mainland China. There are three categories of projects under the MHKTCFS:
    Application details for projects jointly funded by the Mainland and Hong Kong will be announced in due course.
     
         Further information on the MHKTCFS is available on the ITF website (www.itf.gov.hk/en/funding-programmes/supporting-research/mhktcfs/index.htmlIssued at HKT 14:30

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    MIL OSI Asia Pacific News –

  • MIL-Evening Report: Strait of Hormuz: closing vital oil and gas route would disrupt global supplies. How will Australia be affected?

    Source: The Conversation (Au and NZ) – By Sanjoy Paul, Associate Professor in Operations and Supply Chain Management, UTS Business School, University of Technology Sydney

    Below the Sky/Shutterstock

    The Iranian parliament has approved the closure of key shipping route the Strait of Hormuz, in a move that could further escalate the Israel/Iran war.

    The strait lies between Iran and its Gulf Arab neighbours and is used to transport about 20 million barrels per day of oil – the equivalent of 20% of global daily oil consumption.

    Since 2020, this critical route has been used to transport an average of 14.8 million barrels a day of crude oil and natural gas liquids, 5.5 million barrels a day of petroleum products and 10.8 billion cubic feet per day of LNG.

    The closure of the strait, which will not take effect until endorsed by Iran’s Supreme National Security Council, will significantly impact global oil and gas supplies and could potentially create energy crises.

    An important route for Asia

    In 2024, 84% of the crude oil and natural gas liquids, and 83% of the LNG passed through this channel were destined for Asian countries including China, India, Japan and South Korea.

    In the first quarter of 2025, China alone imported about 38% of crude oil shipped through the strait.

    It is likely these countries will be directly impacted by a closure.

    What it means for Australia

    Only about 15% of Australia’s crude oil and 5% of petroleum products are imported from Middle Eastern countries including Saudi Arabia and the United Arab Emirates.

    However, 30% of Australia’s refined oil effectively transits through the Strait of Hormuz. This is because Australia sources refined oil from the Republic of Korea and Singapore that is refined from crude oil from the Middle East.

    If Australia’s key suppliers are affected by the closure, there could be devastating flow-on effects for the country’s oil supply.

    Since the conflict between Iran and Israel started, the oil price has increased by 10%. The closure of the strait could further inflate the oil price globally

    Though Australia does not rely directly on crude oil from the Middle East, its reliance on South Korea and Singapore for refined oil is significant. The increased oil price and its impact on the cost of goods and services could also hurt Australia’s fight to control inflation.

    Past tensions in the strait

    The Strait of Hormuz has never been fully closed. However, it has been disrupted a few times leading to reduced capacity.

    Notable disruptions include attacks on commercial ships including oil tankers during the Iran-Iraq war in the 1980s and the tension in the strait between Iranian and US navies in 2007.

    None of these disruptions led to the closure of the channel so the impact of these disruptions on global oil supply was minimal.

    Bypassing the strait

    Both Saudi Arabia and the United Arab Emirates have established oil pipelines that could bypass the Strait of Hormuz if it is closed or compromised.

    Saudi Arabia’s pipeline can carry five million barrels per day and the emirates’ capacity is 1.5 million barrels per day. This is compared to their production capacities of nine and 3.3 million barrels per day respectively.

    This could significantly slow down the transportation of crude oil from both countries.

    Qatar relies on the Strait of Hormuz to transport nearly all of its LNG shipments. Last week Qatar instructed all LNG carriers to hold off transiting through the strait until the day before loading and to remain east of Hormuz. This has kept their carriers outside the impacted regions.

    The limited alternative options and reduced capacities of pipelines could potentially disrupt the global oil and LNG supply.

    Potential strategies

    If the strait is fully closed, the impacts could be severe, especially for Asian countries which rely on energy from the Middle East.

    Many countries, such as China, have oil reserves that can sustain their current oil consumption for about five years. However, many developing countries don’t keep supply inventories.

    In the short term, countries should seek to diversify their sources of oil and gas supply. In the long term, they should create a strategic reserve for it.

    Supply countries should focus on expanding alternative routes such as pipelines connected to alternative ports.

    Most importantly, countries should focus on creating renewable energy sources and speed up their adoption to meet energy needs. In future, renewable energies will be the most viable alternatives to crude oil and LNG amid geopolitical tensions.

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

    – ref. Strait of Hormuz: closing vital oil and gas route would disrupt global supplies. How will Australia be affected? – https://theconversation.com/strait-of-hormuz-closing-vital-oil-and-gas-route-would-disrupt-global-supplies-how-will-australia-be-affected-259535

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Australian CEOs are still getting their bonuses. Performance doesn’t seem to matter so much

    Source: The Conversation (Au and NZ) – By Richard Denniss, Adjunct Professor, Crawford School of Public Policy, Australian National University

    RomanR/Shutterstock

    Almost all of Australia’s top chief executives are, according to their boards at least, knocking it out of the park in terms of performance.

    That is despite sluggish productivity, persistently high carbon emissions, rising inequality and Australia’s public spending on research and development being among the lowest in the OECD.

    According to new data from the Australian Council of Superannuation Investors, 91% of Australia’s top chief executive officers (CEOs) received some form of performance bonus last year. That elevated their pay well above their base salaries (which were already over A$1 million). Only five CEOs out of 142 eligible for a bonus received zero.

    The fact nearly all of Australia’s top CEOs are receiving these performance bonuses shows performance pay is more about rewarding conformity and discipline than risk-taking and entrepreneurship.

    Do we really believe 91% of our CEOs made big bets that paid off last year? A more plausible explanation is that we simply reward executives for not stuffing up. Their customer base is growing in line with population growth and their prices are rising faster than their cost of production, which means profits rise without too much effort.

    Not keeping up with change

    Take the electricity industry for example. It’s hard to imagine an industry in which change is more inevitable than the industry responsible for transitioning away from gas and coal-fired power stations to renewable energy.

    But according to the Australian Bureau of Statistics, the electricity, gas and water industry spends a mere 0.24% of sales on research and development each year. That is half the economy-wide average.

    Unfortunately, innovation does not appear to be a prerequisite for CEOs being rewarded with large bonuses. According to Energy Australia, its CEO Mark Collette (base salary over $1 million) recently challenged a room full of other well-paid leaders at Australian Energy Week to continuously ask themselves: “Will this make energy cheaper?”

    However instead of focusing on keeping costs down for consumers, companies have sometimes resorted to misleading statements. Energy Australia recently admitted to misleading customers by claiming the coal and gas-fired electricity it was selling was “carbon neutral”.

    Companies purchase carbon credits to offset emissions elsewhere in their businesses.
    tech_BG/Shutterstock

    Energy Australia was buying widely used carbon offsets to make the claim the fossil-fuel fired electricity it was selling was carbon neutral. In its apology Energy Australia conceded “offsets do not prevent or undo the harms caused by burning fossil fuels for a customer’s energy use”.

    While it is clear Energy Australia’s spending on carbon credits did nothing to make the company’s energy cheaper, it is not yet clear if the board will award a “performance bonus”.

    Leading the world – in pay packets

    Another example of the lack of relationship between CEO pay and organisational performance is Australia’s university sector. The vice chancellors of Australian universities are among the best paid in the world, with over a dozen Australian earning more than the head of Cambridge University.

    But there is no correlation between student satisfaction and vice chancellor pay.

    And while Australian vice chancellor pay has been soaring, Australian universities have been slipping steadily down international rankings for university quality.

    Inequality is rising

    While performance-based bonuses and incentives are common among CEOs and vice chancellors, the same is not true for lower-paid staff.

    Instead, these staff are often asked to “do more, with less” even as their real wages have declined. Universities have seen a notable decline in academic staff per student while the gap between the pay of lecturers and vice chancellors has skyrocketed.

    Extremely high salaries for CEOs and vice chancellors have done nothing to boost Australian productivity growth, or our performance in global rankings for our universities, research and development or innovation. Paying out large bonuses for average performance has done little to help either.

    Inequality in Australia is rising. As long as CEO pay is rising faster than the minimum wages, that gap will continue to widen. The latest data showed CEO salaries are 55 times that of the average worker.

    Just doing their job

    While it is true it is hard to measure the performance of a CEO, it’s also hard to measure the care and attention provided by a childcare worker, the compassion of an aged care nurse, the helpfulness of a call centre operator or the enthusiasm of a lecturer.

    Few CEOs think we need bonuses to motivate the vast majority of Australian workers. But it is heresy to suggest those at the top of a big organisation could simply work diligently without a giant bonus.

    So, it’s not just income that is unequal in Australia. We expect a lot more self-motivation from those at the bottom of the income distribution than those at the very top.

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

    – ref. Australian CEOs are still getting their bonuses. Performance doesn’t seem to matter so much – https://theconversation.com/australian-ceos-are-still-getting-their-bonuses-performance-doesnt-seem-to-matter-so-much-259382

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Woodside’s North West Shelf gas extension is being challenged in the courts. Could it be stopped?

    Source: The Conversation (Au and NZ) – By Samantha Hepburn, Professor, Deakin Law School, Deakin University

    The controversial extension of Woodside’s North West Shelf gas project off Western Australia faces two legal challenges. Both raise significant concerns about the validity of government approvals. One could even seek an injunction, preventing federal environment minister Murray Watt from making a final decision.

    The first battle is being fought along climate lines. Enormous amounts of greenhouse gases will be released when gas from the project is exported and burned overseas. The Friends of Australian Rock Art group now argues the then WA environment minister Reece Whitby should have taken this pollution into account when approving the extension in December.

    The second concerns ancient Aboriginal rock art in the Murujuga National Park on the Burrup Peninsula. There’s evidence greenhouse gas emissions released during extraction of fossil fuels is damaging the artwork, and Traditional Owners are seeking a protection order.

    The decision to grant the extension appears at odds with national heritage and state environment laws. Both cases will be a closely watched test of these legal protections.

    What’s the North West Shelf approval about?

    Approval for the North West Shelf gas processing plant in Karratha, WA, was to expire in 2030. Woodside Energy sought to extend the project to 2070.

    The state government gave approval to the extension in December, and the federal government gave conditional approval last month.

    Watt gave Woodside ten business days to respond to “strict conditions particularly relating to the impact of air emissions” on nearby rock art, but that deadline was not met. Woodside has been given more time to review the conditions.

    Meanwhile, two legal challenges have been mounted.

    The Friends of Rock Art case

    Earlier this month, the group Friends of Australian Rock Art requested judicial review of the approval by Whitby.

    Judicial review is where courts review government decisions to ensure they are lawful and fair. The case is yet to be heard in the WA Supreme Court.

    The group argues the state failed to give proper regard to the climate impact of the proposal, as required under the WA Environment Protection Act.

    Specifically, the group argues the approval did not fully examine the climate impacts of so-called “scope three” emissions. These occur when the exported gas is burned overseas.

    Under WA state law, the minister must consider whether a proposal will have a significant effect on the environment. This is a broad requirement and the climate effects of a decision are relevant.

    The WA Office of Environmental Protection makes this clear in a statement of objectives, which include minimising “the risk of environmental harm associated with climate change by reducing greenhouse gases as far as practicable”.

    Guidelines published in November to help implement this objective set out that where scope three emissions are likely to exceed 100,000 tonnes a year, extra information must be provided to government. This includes “a summary of where the scope three emissions will be emitted (domestic or international), and whether they are or are reasonably likely to be subject to emission reduction requirements as scope 1 or 2 emissions”.

    The guidelines further state that the EPA’s usual minimum expectation for proposals is for “deep, substantial and sustained emission reductions” this decade – with net zero no later than 2050, and reductions occurring along a linear trajectory (at minimum) from 2030.

    Woodside has indicated the project extension would emit about 80 million tonnes of scope three emissions annually – about equal to the emissions from a small to medium-sized country.

    Co-convener of the Friends group, Judith Hugo, said the minister did not give adequate regard to the guidelines and failed to consider the project’s full impact on the climate, as well as the nearby rock art.

    While litigation on scope three emissions is relatively new, it is gaining traction globally. It has become an increasingly significant factor underlying corporate climate action and policy development.

    Announcing the legal challenge on June 17, 2025 (Friends of Australian Rock Art)

    2. The Traditional Owner case

    Raelene Cooper is a Mardathoonera woman and founder of the group Save our Songlines. She filed legal action in the Federal Court in 2022, seeking temporary protection from industrial emissions for the art.

    Murujuga has some of the planet’s oldest known rock art, dating back 40,000 years. Research has shown rocks closer to the industrial operations have been degraded by past emissions.

    On May 23 this year, Cooper called for an “urgent assessment of the ongoing impacts of all industry on the Burrup” before the federal government decided on Woodside’s proposed extension.

    She had filed a motion in the Federal Court seeking to compel Watt to make a determination of her Murujuga Section 10 cultural heritage assessment. But Watt announced conditional approval for the Woodside extension on May 28.

    Watt reportedly promised to give Cooper three days’ notice of the approval. That would have given Cooper an opportunity to file an injunction preventing the minister from making a final decision to approve the North West Shelf prior to resolving her section 10 protection order.

    Resolution of the protection order is particularly important given the art has been nominated for UNESCO World Heritage listing. The World Heritage Committee referred the nomination back to the federal government so as to “prevent any further industrial development adjacent to, and within, the Murujuga Cultural Landscape”.

    This referral occurred before the project extension was approved. If the approval is finalised, the nomination may fail, because the government cannot ensure the area will be protected.

    Cooper’s case is set to be heard in July.

    Saving Murujuga Rock Art (The Australia Institute)

    High stakes and delicate decision-making

    These legal actions reflect deep public concern over the North West Shelf gas project extension.

    In the context of a worsening climate emergency and damage to ancient rock art, properly adhering to the legal requirements for the assessment of such projects couldn’t be more crucial.

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

    – ref. Woodside’s North West Shelf gas extension is being challenged in the courts. Could it be stopped? – https://theconversation.com/woodsides-north-west-shelf-gas-extension-is-being-challenged-in-the-courts-could-it-be-stopped-259130

    MIL OSI Analysis – EveningReport.nz –

  • Man City down Al-Ain 6-0 to reach Club World Cup knockout stage with Juve

    Source: Government of India

    Source: Government of India (4)

    Ilkay Gundogan scored two goals as Manchester City comfortably dispatched Emirati club Al-Ain 6-0 on Sunday to ease into the knockout stage of the Club World Cup from Group G along with Juventus.

    The German midfielder found the net in the ninth and 73rd minutes while Argentine teenager Claudio Etcheverri also fired home a free kick and Erling Haaland a penalty before the break.

    Substitutes Oscar Bobb and new signing Rayan Cherki sealed the emphatic victory in the last 10 minutes to draw City level on goal difference with Juventus, who beat Wydad Casablanca 4-1 earlier on Sunday.

    City and Juventus meet in their final group match in Orlando on Thursday to decide which of them progresses to the round of 16 as group winners.

    “A really good performance,” said Gundogan. “I think we had our moments in the first half, and then also the second part of the second half.

    “I think the result speaks for itself, and in the end, fully deserved.”

    City manager Pep Guardiola illustrated the depth of his squad by making 11 changes, and Gundogan made the most of his start by opening the scoring with a chipped cross that floated over the head of Al-Ain keeper Khalid Eisa and into the net.

    Al-Ain were showing more ambition than they had in their 5-0 loss to Juventus and winger Nassim Chadli had a chance to equalise in the 15th minute but City keeper Stefan Ortega Moreno managed to push it wide.

    Etcheverri, making his first start for City, doubled the lead in the 27th minute when he bent a free kick around a poorly-placed defensive wall and past the hapless Eisa.

    Haaland almost immediately created a chance for himself by dispossessing the final defender but he took the ball too wide to get around Eisa and his shot went across the goal.

    The big Norwegian went through on goal again in the 41st minute before again angling his shot wide of the far post but made no mistake from the spot with his third chance to score in first-half stoppage time.

    Egyptian Ramy Rabia wrestled Manuel Akanji to the ground from a corner and after VAR informed the referee of the offence, Haaland sent Eisa to the left and banged the ball into the right-hand corner for his 32nd goal of the season.

    City kept up the pressure in the second half and forward Matheus Nunes turned and volleyed the ball past the post just after the hour mark before Eisa finally showed his quality by twice denying Haaland from close range.

    Chadli had another chance in the 69th minute but fired his shot high over the bar and Gundogan soon ended any hopes of a comeback with his second goal.

    Bernardo Silva drifted across the edge of the box before drilling a pass towards the penalty spot and Gundogan got a great first touch to take him past the defence before lifting the ball over Eisa.

    Bobb cut inside the box onto his left foot to beat Eisa at his near post eight minutes from time before his fellow winger Cherki sealed the rout with a clinical finish from the edge of the box.

    (Reuters)

  • Kanishka bombing anniversary: EAM reiterates call for zero tolerance to terrorism, extremism

    Source: Government of India

    Source: Government of India (4)

    External Affairs Minister S. Jaishankar on Monday paid homage to the 329 victims of the 1985 Air India ‘Kanishka’ bombing, marking the 40th anniversary of one of the deadliest acts of aviation terrorism in history.
     
    Reiterating India’s firm stance against terrorism, Jaishankar underscored the need for global zero tolerance towards terrorism and violent extremism. He called the tragedy a grim reminder of the devastating consequences of allowing such ideologies to persist.
     
    “On the 40th anniversary of Air India 182 ‘Kanishka’ bombing, we honour the memory of the 329 lives lost in one of the worst acts of terrorism. A stark reminder of why the world must show zero tolerance towards terrorism and violent extremism,” Jaishankar said in a post on X.
     
    Air India Flight 182 was en route from Montreal to Mumbai via London and Delhi when it was destroyed mid-air over the Atlantic Ocean on June 23, 1985, after a bomb exploded in its cargo hold.
     
    The Boeing 747 aircraft, named after Emperor Kanishka of the Kushan dynasty, had just completed a scheduled stop at Montreal’s Mirabel Airport, where additional passengers boarded. The flight then resumed its journey toward London Heathrow before vanishing from radar shortly after establishing contact with Shannon Air Traffic Control in Ireland.
     
    The mid-air explosion occurred off the Irish coast, killing all 329 people on board, including 22 crew members. The investigation later revealed that the bomb had been placed in luggage originating from Vancouver, pointing to a transnational terror plot.
     
    The attack was attributed to the Khalistani extremist outfit Babbar Khalsa. Inderjit Singh Reyat, a British-Canadian national, pleaded guilty in 2003 for his role in assembling the explosive device. Another key conspirator, Talwinder Singh Parmar, a founding member of Babbar Khalsa, was believed to be the mastermind behind the bombing.
     
    To mark the solemn anniversary, a high-level Indian delegation led by Union Minister Hardeep Singh Puri arrived in Ireland on Sunday to participate in the memorial service at the Ahakista Memorial in Cork.
     
    The delegation includes BJP National General Secretary Tarun Chugh and elected representatives from five Indian states: Arvinder Singh Lovely (Delhi MLA), Baldev Singh Aulakh (Minister from Uttar Pradesh), Gurveer Singh Brar (MLA from Rajasthan), Trilok Singh Cheema (MLA from Uttarakhand), and Narinder Singh Raina (MLA from Jammu & Kashmir).
     
    The commemorative event is being held on Monday at the memorial site, in the presence of Ireland’s Prime Minister Micheál Martin, Canadian Minister Gary Anandasangaree, and several other international dignitaries.
     
    (IANS)

  • MIL-OSI Russia: The number of China-Central Asia freight train departures increased by 23 percent in January-May 2025.

    Translation. Region: Russian Federal

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

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

    BEIJING, June 23 (Xinhua) — The number of freight train departures on China-Central Asia international freight routes increased 23 percent year-on-year in the first five months of 2025, according to China Railways (CR).

    According to the department, from January to May this year, the China-Europe freight train sector maintained stable dynamics, with 6,046 China-Central Asia freight train trips completed.

    In addition, an increase in the volume of freight transportation was recorded. In January-May of this year, about 1.64 billion tons of freight were transported by rail, which is 3.1 percent more in annual terms.

    During the reporting period, the average daily number of loaded wagons amounted to 181 thousand units, which is 4.2 percent more than in January-May last year, according to KZhD data. -0-

    MIL OSI Russia News –

  • MIL-OSI Australia: NDIS Incoming Government Brief

    Source:

    On Friday 20 June 2025, Mental Health Australia provided an Incoming Government Brief on psychosocial disability and the National Disability Insurance Scheme (NDIS) to Minister for Disability and the NDIS, the Hon Mark Butler MP and Minister for the NDIS, Senator the Hon Jenny McAllister.

    The brief acknowledges that while the NDIS has been life changing for many people with psychosocial disability, their family, carers and kin, it is clear that overall there is a need for a more tailored and effective use of the funding committed to the NDIS for people with psychosocial disability. The brief outlines practical solutions to deliver this approach and recommends priority actions for the first 100 days and first year of this government, informed by sector and lived experience expertise. Actions include introducing a new approach to NDIS support for people with psychosocial disability, getting navigation reforms right for people with psychosocial disability, understanding the recent decline in NDIS access rates, shifting from encouraging dependence to supporting recovery, ensuring psychosocial expertise is informing NDIS reforms and fixing NDIS pricing. The brief also discusses implementation of General Foundational Supports for people with psychosocial disability and addressing the unmet need for psychosocial support outside the NDIS.

    Read the full Incoming Government Brief by clicking on the PDF link below.

    MIL OSI News –

  • Airlines weigh Middle East cancellations after US strikes in Iran

    Source: Government of India

    Source: Government of India (4)

    Commercial airlines around the world on Monday were weighing how long to suspend Middle East flights as a conflict which has already cut off major flight routes entered a new phase after the U.S. attacked key Iranian nuclear sites and Tehran vowed to defend itself.

    The usually busy airspace stretching from Iran and Iraq to the Mediterranean has been largely empty of commercial air traffic for 10 days since Israel began strikes on Iran on June 13, as airlines divert, cancel and delay flights through the region due to airspace closures and safety concerns.

    New cancellations of some flights by international carriers in recent days to usually resilient aviation hubs like Dubai, the world’s busiest international airport, and Qatar’s Doha, show how aviation industry concerns about the region have escalated.
    However, some international airlines were resuming services on Monday.

    Leading Asian carrier Singapore Airlines, which described the situation as “fluid”, was set to resume flying to Dubai on Monday after cancelling its Sunday flight from Singapore.

    Similarly, Flightradar24 departure boards show British Airways, owned by IAG, was set to resume Dubai and Doha flights on Monday after cancelling routes to and from those airports on Sunday.

    Air France KLM cancelled flights to and from Dubai and Riyadh on Sunday and Monday.

    With Russian and Ukrainian airspace also closed to most airlines due to years of war, the Middle East had become a more important route for flights between Europe and Asia. Amid missile and air strikes during the past 10 days, airlines have routed north via the Caspian Sea or south via Egypt and Saudi Arabia.

    Added to increased fuel and crew costs from these long detours and cancellations, carriers also face a potential hike in jet fuel costs as oil prices rise following the U.S. attacks.

    AIRSPACE RISKS

    Proliferating conflict zones are an increasing operational burden on airlines, as aerial attacks raise worries about accidental or deliberate shoot-downs of commercial air traffic.

    Location spoofing and GPS interference around political hotspots, where ground-based GPS systems broadcast incorrect positions which can send commercial airliners off course, are also a growing issue for commercial aviation.

    Flightradar24 told Reuters it had seen a “dramatic increase” in jamming and spoofing in recent days over the Persian Gulf. SkAI, a Swiss company that runs a GPS disruption map, late on Sunday said it had observed more than 150 aircraft spoofed in 24 hours there.

    Safe Airspace, a website run by OPSGROUP, a membership-based organisation that shares flight risk information, noted on Sunday that U.S. attacks on Iran’s nuclear sites could heighten the threat to American operators in the region.

    This could raise additional airspace risks in Gulf states like Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, it said.

    In the days before the U.S. strikes, American Airlines suspended flights to Qatar, and United Airlines and Air Canada did the same with flights to Dubai. They have yet to resume.

    While international airlines are shying away from the region, local carriers in Jordan, Lebanon and Iraq are tentatively resuming some flights after widespread cancellations.

    Israel is ramping up flights to help people return home, and leave. The country’s Airports Authority says that so-called rescue flights to the country would expand on Monday with 24 a day, although each flight would be limited to 50 passengers.

    From Monday, Israeli airlines will start to operate outbound flights from Israel, the authority said.

    Israeli airline El Al on Sunday said it had received applications to leave the country from about 25,000 people in about a day.

    (Reuters)

  • Tesla rolls out robotaxis in Texas test

    Source: Government of India

    Source: Government of India (4)

    Tesla deployed a small group of self-driving taxis picking up paying passengers on Sunday in Austin, Texas, with CEO Elon Musk announcing the “robotaxi launch” and social-media influencers posting videos of their first rides.

    The event marked the first time Tesla cars without human drivers have carried paying riders, a business that Musk sees as crucial to the electric car maker’s financial future.

    He called the moment the “culmination of a decade of hard work” in a post on his social-media platform X and noted that “the AI chip and software teams were built from scratch within Tesla.”

    Teslas were spotted early Sunday in a neighborhood called South Congress with no one in the driver’s seat but one person in the passenger seat. The automaker planned a small trial with about 10 vehicles and front-seat riders acting as “safety monitors,” though it remained unclear how much control they had over the vehicles.

    In recent days, the automaker sent invites to a select group of influencers for a carefully monitored robotaxi trial in a limited zone. The rides are being offered for a flat fee of $4.20, Musk said on X.

    Tesla investor and social-media personality Sawyer Merritt posted videos on X Sunday afternoon showing him ordering getting picked up, and taking a ride to a nearby bar and restaurant, Frazier’s Long and Low, using a Tesla robotaxi app.

    If Tesla succeeds with the small deployment, it still faces major challenges in delivering on Musk’s promises to scale up quickly in Austin and other cities, industry experts say.

    It could take years or decades for Tesla and self-driving rivals, such as Alphabet’s Waymo, to fully develop a robotaxi industry, said Philip Koopman, a Carnegie Mellon University computer-engineering professor with expertise in autonomous-vehicle technology.

    A successful Austin trial for Tesla, he said, would be “the end of the beginning – not the beginning of the end.”
    Most of Tesla’s sky-high stock value now rests on its ability to deliver robotaxis and humanoid robots, according to many industry analysts. Tesla is by far the world’s most valuable automaker.

    As Tesla’s robotaxi-rollout date approached, Texas lawmakers moved to enact autonomous-vehicle rules. Texas Governor Greg Abbott, a Republican, on Friday signed legislation requiring a state permit to operate self-driving vehicles.

    The law, which takes effect September 1, signals that state officials from both parties want the driverless-vehicle industry to proceed cautiously.

    Tesla did not respond to requests for comment. The governor’s office declined to comment.

    “EASY TO GET, EASY TO LOSE”

    The law softens the state’s previous anti-regulation stance on autonomous vehicles. A 2017 Texas law specifically prohibited cities from regulating self-driving cars.

    The new law requires autonomous-vehicle operators to get approval from the Texas Department of Motor Vehicles before operating on public streets without a human driver. It gives state authorities the power to revoke permits for operators they deem a public danger.

    The law also requires firms to provide information on how first responders can deal with their driverless vehicles in emergency situations.

    The law’s permit requirements for an “automated motor vehicle” are not onerous but require firms to attest their vehicles can operate legally and safely.

    It defines an automated vehicle as having at least “Level 4” autonomous-driving capability under a recognized standard, meaning it can operate with no human driver under specified conditions. Level 5 autonomy is the top level and means a car can drive itself anywhere, under any conditions.

    Compliance remains far easier than in some states, notably California, which requires submission of vehicle-testing data under state oversight.

    Bryant Walker Smith, a University of South Carolina law professor who focuses on autonomous driving, said it appears any company that meets minimum application requirements will get a Texas permit – but could also lose it if problems arise.

    “California permits are hard to get, easy to lose,” he said. “In Texas, the permit is easy to get and easy to lose.”

    MUSK’S SAFETY PLEDGES

    The Tesla robotaxi rollout comes after more than a decade of Musk’s unfulfilled promises to deliver self-driving Teslas.

    Musk has said Tesla would be “super paranoid” about robotaxi safety in Austin, including operating in limited areas.

    The service in Austin will have other restrictions as well. Tesla plans to avoid bad weather, difficult intersections, and will not carry anyone below age 18.

    Commercializing autonomous vehicles has been risky and expensive. GM’s Cruise was shut down after a serious accident. Regulators are closely watching Tesla and its rivals, Waymo and Amazon’s Zoox.

    Tesla is also bucking the young industry’s standard practice of relying on multiple technologies to read the road, using only cameras. That, Musk says, will be safe and much less expensive than lidar and radar systems added by rivals.

    (Reuters)

  • EPFO registers over 19 lakh net members in April

    Source: Government of India

    Source: Government of India (4)

    The Employees’ Provident Fund Organisation (EPFO) on Sunday reported a net addition of 19.14 lakh members in April 2025, reflecting a strong momentum in formal sector employment. The latest payroll data released by the Ministry of Labour and Employment indicates a noticeable rise in workforce participation, particularly among the youth.

    According to the provisional figures, around 8.49 lakh new members enrolled with the EPFO during the month of April. This marks an increase of 12.5 percent compared to March 2025. Of these new joiners, nearly 57.7 percent were in the age group of 18 to 25 years, underscoring a healthy entry rate of young workers into the organized sector.

    The data also highlights regional trends, with five states and union territories contributing over 60 percent of the net payroll additions. Maharashtra led the chart, accounting for 21.1 percent of the total member additions. Karnataka, Tamil Nadu, Gujarat, Haryana, Delhi, Uttar Pradesh, and Telangana also recorded notable contributions to the overall increase.

    Industry-wise, the expert services segment, including manpower suppliers, saw the highest number of new member additions. Other sectors such as trading and commercial establishments, engineering contractors, construction, computer services, and education also witnessed significant growth in employment registrations. Within expert services, manpower suppliers alone added around 4.24 lakh new accounts.

    The EPFO has clarified that the payroll figures are provisional and subject to change as the organization continues to update its data based on new Electronic Challan-cum-Return (ECR) filings and revised member records. Monthly revisions are also made due to exit corrections and Aadhaar-based identification updates.

     

     

  • MIL-OSI New Zealand: Regional Infrastructure Fund backs solar energy

    Source: New Zealand Government

    Three solar projects in regional New Zealand will receive loans of up to $28.1 million combined from the Regional Infrastructure Fund to ensure security of local energy supply and community resilience, Regional Development Minister Shane Jones and Energy Minister Simon Watts say.

    “The loans for these projects in Bay of Plenty, Hawke’s Bay and Rakiura/Stewart Island will allow them to get under way this year, helping them to improve economic prosperity and resilience. They will also create up to 150 jobs during construction,” Mr Jones says.

    “These projects support the Coalition Government’s objective of doubling renewable energy generation by 2050 and enabling a more reliable and affordable electricity supply for regional New Zealand,” Mr Watts says.

    The three projects are:

    • Rakiura/Stewart Island – a suspensory loan of up to $15.35m to Southland District Council to build the first stage of a solar farm, and network upgrades, replacing high-cost, diesel-generated electricity for the island’s 494 permanent electricity connections
    • Ongaonga, Hawke’s Bay – a loan of up to $8m to local lines company Centralines Ltd to build a 35ha solar farm to generate 52GW annually and provide about 9000 electricity connections in Central Hawke’s Bay with a local source of generation
    • Te Kaha, Bay of Plenty – a loan of up to $4.75m to Te Huata Charitable Trust to build an 804kW-peak solar farm to ensure reliable electricity supply to about 320 homes and businesses.

    The Rakiura/Stewart Island project is expected to reduce diesel consumption by 200,000 litres within two years of beginning. During construction, about 40 high-skilled workers will be required.

    When complete, more competitive energy costs will help business growth on the island including in aquaculture, tourism and hospitality.

    The Ongaonga solar farm will improve electricity network resilience and support more competitive pricing for residents and commercial customers. Power could also be supplied to the national grid at peak generation. About 80-100 roles are expected to be needed during construction.

    The Te Kaha project will provide more reliable, competitively priced power for a Māori community that regularly suffers electricity outages. The solar farm battery will have storage capacity for up to 72 hours which will protect the community from power outages. Reliable power will also help the Ōpōtiki region with its bid to be an aquaculture centre of national significance. During construction, up to 12 people will be employed.

    “Solar power is playing an increasingly important role in increasing electricity generation in New Zealand. It will help us reach our renewable energy targets and bolster the security and affordability of our energy supply,” Mr Watts says.

    “The Government has been making great progress on a series of exciting new solar and battery initiatives recently. I look forward to seeing these three projects make a real difference for these communities.”

    Associate Regional Development Minister Mark Patterson travelled to Rakiura for the announcement today. He said the project should lead to considerable savings for residents.

    “The Regional infrastructure Fund is contributing to energy security where communities cannot gain investment from other sources, and there are wider benefits for the communities,” Mr Patterson says.

    MIL OSI New Zealand News –

  • MIL-OSI: Boyuan Capital (investment platform under Bosch Group) and Galbot Forged JV

    Source: GlobeNewswire (MIL-OSI)

    BEIJING, June 23, 2025 (GLOBE NEWSWIRE) — On June 17, 2025, Boyuan Capital (the market-oriented investment platform under the Bosch Group), announced a joint venture named BOYIN INNOVATION ALLIANCE with Galbot, a market leading innovator in building general-purpose humanoid robots powered by Embodied AI.

    The collaboration was officially unveiled at the “Open Bosch: Embodied AI Day” event on June 17. On the same day, Bosch China, Boyuan Capital, and Galbot signed a strategic memorandum of understanding (MOU) to jointly advance the R&D and commercialization of Embodied Intelligent Robotics.

    The joint venture will focus on industrial applications with Embodied AI in high-precision manufacturing—such as complex assembly— aiming at promoting the large-scale industrial deployment of Embodied AI and accelerating the global adoption of Embodied AI technologies. It will leverage Galbot’s proprietary Embodied AI technology, replace traditional rule-based and programmed automation deployment methods with Embodied AI models trained on real industrial scenario data, and develop next-generation intelligent robot systems for industrial scenarios. This initiative marks a significant milestone in transitioning Embodied AI from pilot testing to scaled industrial deployment, aligning with the global acceleration of smart manufacturing.

    Galbot: A pioneer in Embodied AI

    Galbot—recognized by The Information as one of the Top Asia Startups of 2024 has emerged as a leader in Embodied AI. Galbot is Founded in May 2023 by Prof. He Wang from Peking University, who gained his PhD from Stanford.

    At the event, Galbot demonstrated its Embodied AI robots, showcasing fully autonomous capabilities in complex automotive and retail scenarios. The live demonstrations received widespread acclaim from key partners, including Bosch China, BoYuan Capital and United Automotive Electronic Systems (UAES), underscoring the maturity of Galbot’s Embodied AI technologies.

    These demonstrations showcased the maturity of Galbot’s technology stack, which includes: End-to-End VLA (Vision-Language-Action) Large Models with strong generalization capabilities; A proprietary simulation dataset containing over 10 billion high-quality robotic action data points; Advanced hardware systems featuring high-precision control and scenario adaptability.

    Strategic Collaboration and Global Reach

    As a key early milestone, BOYIN INNOVATION ALLIANCE signed a memorandum of understanding with UAES to establish RoboFab, a joint laboratory dedicated to cultivating automotive-operations related expertise in Embodied AI and redefining industrialization.

    “Embodied AI holds transformative potential to redefine manufacturing processes. We’re already witnessing its remarkable capabilities across diverse production stages. Through this powerful synergy between Boyuan Capital and Galbot, we anticipate delivering commercially viable, scalable robotics solutions with real industry impact,” said Dr. Ingo Ramesohl, Managing Partner of Bosch Ventures.

    “The future of manufacturing lies in intelligent, adaptive systems that can learn from real-world data,” said Professor He Wang, founder of Galbot. “Through this collaboration with Bosch and Boyuan Capital, we’re building an end-to-end value chain that will deliver globally competitive Embodied AI solutions for smart manufacturing.”

    The joint venture adopts a “global design, local production” strategy, positioning it to serve key international markets including Europe, North America, and Southeast Asia.

    Industry analysts view this collaboration as a significant development in the Embodied AI sector, potentially accelerating the industrialization of AI-driven robot system in manufacturing. The partnership brings together complementary strengths: Bosch’s industrial experience, Boyuan’s financial resources and eco-system, and Galbot’s technological innovations in Embodied AI.

    Contact Person: Xiaokang Li
    Email: business@galbot.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8ba8b74d-508b-4a6f-b65f-3dc9bb26b9fa

    The MIL Network –

  • MIL-OSI: Boyuan Capital (investment platform under Bosch Group) and Galbot Forged JV

    Source: GlobeNewswire (MIL-OSI)

    BEIJING, June 23, 2025 (GLOBE NEWSWIRE) — On June 17, 2025, Boyuan Capital (the market-oriented investment platform under the Bosch Group), announced a joint venture named BOYIN INNOVATION ALLIANCE with Galbot, a market leading innovator in building general-purpose humanoid robots powered by Embodied AI.

    The collaboration was officially unveiled at the “Open Bosch: Embodied AI Day” event on June 17. On the same day, Bosch China, Boyuan Capital, and Galbot signed a strategic memorandum of understanding (MOU) to jointly advance the R&D and commercialization of Embodied Intelligent Robotics.

    The joint venture will focus on industrial applications with Embodied AI in high-precision manufacturing—such as complex assembly— aiming at promoting the large-scale industrial deployment of Embodied AI and accelerating the global adoption of Embodied AI technologies. It will leverage Galbot’s proprietary Embodied AI technology, replace traditional rule-based and programmed automation deployment methods with Embodied AI models trained on real industrial scenario data, and develop next-generation intelligent robot systems for industrial scenarios. This initiative marks a significant milestone in transitioning Embodied AI from pilot testing to scaled industrial deployment, aligning with the global acceleration of smart manufacturing.

    Galbot: A pioneer in Embodied AI

    Galbot—recognized by The Information as one of the Top Asia Startups of 2024 has emerged as a leader in Embodied AI. Galbot is Founded in May 2023 by Prof. He Wang from Peking University, who gained his PhD from Stanford.

    At the event, Galbot demonstrated its Embodied AI robots, showcasing fully autonomous capabilities in complex automotive and retail scenarios. The live demonstrations received widespread acclaim from key partners, including Bosch China, BoYuan Capital and United Automotive Electronic Systems (UAES), underscoring the maturity of Galbot’s Embodied AI technologies.

    These demonstrations showcased the maturity of Galbot’s technology stack, which includes: End-to-End VLA (Vision-Language-Action) Large Models with strong generalization capabilities; A proprietary simulation dataset containing over 10 billion high-quality robotic action data points; Advanced hardware systems featuring high-precision control and scenario adaptability.

    Strategic Collaboration and Global Reach

    As a key early milestone, BOYIN INNOVATION ALLIANCE signed a memorandum of understanding with UAES to establish RoboFab, a joint laboratory dedicated to cultivating automotive-operations related expertise in Embodied AI and redefining industrialization.

    “Embodied AI holds transformative potential to redefine manufacturing processes. We’re already witnessing its remarkable capabilities across diverse production stages. Through this powerful synergy between Boyuan Capital and Galbot, we anticipate delivering commercially viable, scalable robotics solutions with real industry impact,” said Dr. Ingo Ramesohl, Managing Partner of Bosch Ventures.

    “The future of manufacturing lies in intelligent, adaptive systems that can learn from real-world data,” said Professor He Wang, founder of Galbot. “Through this collaboration with Bosch and Boyuan Capital, we’re building an end-to-end value chain that will deliver globally competitive Embodied AI solutions for smart manufacturing.”

    The joint venture adopts a “global design, local production” strategy, positioning it to serve key international markets including Europe, North America, and Southeast Asia.

    Industry analysts view this collaboration as a significant development in the Embodied AI sector, potentially accelerating the industrialization of AI-driven robot system in manufacturing. The partnership brings together complementary strengths: Bosch’s industrial experience, Boyuan’s financial resources and eco-system, and Galbot’s technological innovations in Embodied AI.

    Contact Person: Xiaokang Li
    Email: business@galbot.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8ba8b74d-508b-4a6f-b65f-3dc9bb26b9fa

    The MIL Network –

  • Oil surges to five-month high after US hits Iran’s key nuclear sites

    Source: Government of India

    Source: Government of India (4)

    Oil prices jumped on Monday to their highest since January as the United States’ weekend move to join Israel in attacking Iran’s nuclear facilities stoked supply concerns.

    Brent crude futures were up $1.52 or 1.97% to $78.53 a barrel as of 0503 GMT. U.S. West Texas Intermediate crude advanced $1.51 or 2.04% to $75.35.

    Both contracts jumped by more than 3% earlier in the session to $81.40 and $78.40, respectively, touching five-month highs before giving up some gains.

    The rise in prices came after U.S. President Donald Trump said he had “obliterated” Iran’s main nuclear sites in strikes over the weekend, joining an Israeli assault in an escalation of conflict in the Middle East as Tehran vowed to defend itself.

    Iran is OPEC’s third-largest crude producer.

    Market participants expect further price gains amid mounting fears that an Iranian retaliation may include a closure of the Strait of Hormuz, through which roughly a fifth of global crude supply flows.

    “The current geopolitical escalation provides the fundamental catalyst for (Brent) prices to traverse higher and potentially spiral towards $100, with $120 per barrel appearing increasingly plausible,” said Sugandha Sachdeva, founder of New Delhi-based research firm SS WealthStreet.

    Iran’s Press TV reported that the Iranian parliament had approved a measure to close the strait. Iran has in the past threatened to close the strait but has never followed through.

    Iran and Israel exchanged air and missile strikes on Monday, as global tensions rose over Tehran’s expected response to a U.S. attack on its nuclear facilities.

    “The risks of damage to oil infrastructure … have multiplied,” said Sparta Commodities senior analyst June Goh.

    Although there are alternative pipeline routes out of the region, there will still be crude volume that cannot be fully exported out if the Strait of Hormuz becomes inaccessible. Shippers will increasingly stay out of the region, she added.

    Goldman Sachs said in a Sunday report that Brent could briefly peak at $110 per barrel if oil flows through the critical waterway were halved for a month, and remain down by 10% for the following 11 months.

    The bank still assumed no significant disruption to oil and natural gas supply, adding global incentives to try and prevent a sustained and very large disruption.

    Brent has risen 13% since the conflict began on June 13, while WTI has gained around 10%.

    Given the Strait of Hormuz is indispensable for Iran’s own oil exports, which are a vital source of its national revenues, a sustained closure would inflict severe economic damage on Iran itself, making it a double-edged sword, Sachdeva added.

    Meanwhile, Japan on Monday called for de-escalation of the conflict in Iran, while a South Korean vice industry minister voiced concern over the potential impact of the strikes on the country’s trade.

    (Reuters)

  • June 25, ‘Samvidhaan Hatya Diwas’—A Sombre Reminder: Vice-President

    Source: Government of India

    Source: Government of India (2)

    lign=”center”>Supreme Court’s Verdict During Emergency Was The Darkest In Judicial History, Says VP
    The Judgment Of The Supreme Court Overruling Judgement of Nine High Courts, Legitimised Dictatorship And Authoritarianism, Says VP
    More Than 100,000 Citizens Of This Country Were Put Behind Bars In Hours, Reminds VP
    Our Constitution Ceased To Exist; Our Media Was Held Hostage during Emergency, Recalls VP
    It Is My Very Passionate Appeal — Yoga Is Not Meant For One Day, but for Every Moment of your Day, Urges VP
    Yoga Will Give Relief, Purify Every Sin, Highlights VP On The Eve Of International Yoga Day
    Vice-President addresses Rajya Sabha Interns in New Delhi

    The Vice-President of India, Shri Jagdeep Dhankhar, today reminded the gathering of a critical historical episode, namely Emergency, saying, “Today I am reflecting on an incident, which comes as a sad anniversary within seven days. India was in the 28th year of its independence from the British colonial regime in 1975. It was June 25, 1975, at midnight. The President of India, then, Fakhruddin Ali Ahmed, signed, at the instance of the then Prime Minister, Smt. Indira Gandhi — a declaration of Emergency in the nation. It was for the first time.”

    https://twitter.com/VPIndia/status/1936010233819595171

    Interacting with participants of the 7th Batch of Rajya Sabha internship program (RSIP-7) at Vice-President Enclave, New Delhi, Shri Dhankhar said, “Now you are discerning minds. A President cannot act on the advice of an individual, the Prime Minister. The Constitution is very categorical. There is a council of ministers headed by the Prime Minister to aid and advise the President. This was one violation, but what was the result? More than 100,000 citizens of this country were put behind bars in hours.”

    Reflecting on the collapse of democratic institutions, he said, “They were dragged out of their homes, put in jails all over the country. Our Constitution ceased to exist. Our media was held hostage. Some of the illustrious newspapers had blank editorials.”

    Sharing a chilling account of those arrested, he noted, “And you know, illustratively, who were these people who were suddenly put behind bars? Many of them became Prime Ministers of this country — Atal Bihari Vajpayee, Morarji Desai, Chandra Shekhar Ji. Many of them became Chief Ministers, Governors, Scientists, and talented people. Many of them were your age.”

    Turning to the judiciary’s role, the Vice-President highlighted, “That was a time when the fundamental essence of democracy capsized in times of distress. People look up to the Judiciary. Nine High Courts in the country have gloriously defined that, emergency or no emergency, people have fundamental rights, and there is access to the justice system. Unfortunately, the Supreme Court overturned all nine High Courts and gave a judgment which will be the darkest in the history of any Judicial institution in the world that believes in the rule of law. The decision was that it is the will of the Executive to have Emergency for as much time as it thinks fit.”

    https://twitter.com/VPIndia/status/1936010558882414738

    “And secondly, during an Emergency, there are no fundamental rights. So the judgment of the Supreme Court legitimised dictatorship, authoritarianism, and despotism in this land, Bharat, the oldest and now most vibrant democracy. You, therefore, have to remember it because you were not there. I was there.”

    Drawing attention to a significant development, he added, “And therefore, the present government thought very wisely, and a notification was issued on July 11, 2024. And that was for a valid reason — we were having the 75th year of our Republic. We became independent in 1947. The 75th came earlier, but we became a Republic. So, we were starting that adoption of the Indian Constitution, the 75th year, and this day was declared officially by a gazette notification on July 11, 2024 — that June 25th will be Samvidhaan Hatya Diwas.”

    https://twitter.com/VPIndia/status/1936010747953238229

    He said with a call to duty, “And this is to make the event a sombre reminder — that we have to be ourselves, Guardians and watchdogs of democratic values. So, I urge all of you to carefully analyze. Then you will come to know the price of democracy.”

    Emphasising another important aspect, Shri Dhankhar said, “India is a country that believes in harmony, which means you practice a religion as per your volition, your option, your choice. You cannot be made to be attracted to a religion by sugar-coated promises, allurements. That is a step towards destroying a sense of Indian identity. Anyone has the right to choose a religion of his or her choice. But if there is allurement, temptation, something that comes with a string that is a challenge to our civilizational assets.  Our foundations will shake, and I can assure you this change is taking place. Every individual has a right and a duty to attend to this.”

    Moreover, Shri Jagdeep Dhankhar, reflected on the significance of International Yoga Day saying, “Tomorrow is International Yoga Day, अंतर्राष्ट्रीय योग दिवस. This emanates from our treasure. It has its origin in Bharat. It is deeply embedded in our scriptures, the essence of it. Our Atharvaveda is encyclopedic about health, wellness, and how to take care of the body. So this idea occurred to Prime Minister Narendra Modi that we must share this good practice with the entire world, and we had a great achievement,” he said.

    He recalled, “In September 2014, when the Prime Minister began his first term, he made a clarion call at the United Nations while he was addressing the United Nations General Assembly. He said, and I quote, ‘Yoga is an invaluable gift of India’s ancient tradition’.”

    https://twitter.com/VPIndia/status/1936009765034807664

    The Vice-President noted how the world embraced this vision. “The world picked it up in the shortest of time, within 75 days, with the largest number of countries, 177 nations, that converged into a resolution of the United Nations, namely Resolution 69/131 on December 11, 2014, declaring June 21 as International Yoga Day. Since then, it is celebrated all over the nation.”

    He shared his personal experience, saying, “I had the occasion to be at the main function in the Nation on 9th International Yoga Day at Jabalpur. And the Prime Minister of the country, of the largest, most vibrant, oldest democracy, had the occasion to participate in a similar program at United Nations Headquarters.”

    https://twitter.com/VPIndia/status/1936009953891778588

    Addressing the young interns, the Vice-President emphasized, “Boys and girls, Yoga is not limited only to International Yoga Day celebrations on June 21. June 21 is a focal point for everyone to know about. It has to be part of your daily life. Start practicing it. You can do it in parts at any time of the day, also. It will give you relief, purify you from every sin, and take on occasional despondency out of you.”

    Shri P.C. Mody, Secretary General, Rajya Sabha, Dr. K.S. Somashekhar, Additional Secretary, Rajya Sabha, and other dignitaries were also present on the occasion

  • Vice-President extends Birthday wishes to President of India

    Source: Government of India

    Source: Government of India (2)

    lign=”justify”>Hon’ble Vice-President of India, Shri Jagdeep Dhankhar extended birthday greetings to Hon’ble President of India, Smt. Droupadi Murmu today.

    Wishing the President on social media platform ‘X’, he said:

    “Heartfelt birthday wishes to the Hon’ble President of India, Smt. Droupadi Murmu Ji. Her extraordinary journey from humble beginnings to the highest constitutional office, epitomizing modesty, simplicity and sublimity, reflects the true spirit of our democracy. She has consistently set the highest standards throughout her journey in public service, as MLA, Governor and now as the President of the largest Democracy—a legacy worth emulation.

    https://twitter.com/VPIndia/status/1935925571684319463

    I was honoured to personally greet her yesterday at Rashtrapati Bhavan. May this birthday bring her abundant health, happiness and joy, and may the Almighty bless her with continued strength to serve our nation.”