NewzIntel.com

Category: Asia Pacific

  • MIL-OSI New Zealand: First Responders – New World Victoria Park fire update #6

    Source: Fire and Emergency New Zealand

    Fire and Emergency New Zealand has handed back the Victoria Park New World to the building’s owners, following yesterday’s fire.
    Incident Controller Phil Larcombe says fire crews have left the site, more than 24 hours after the fire started.
    “This was a challenging fire, because it was initially too dangerous to fight the fire from inside the building,” he says.
    “I want to acknowledge all the firefighters, commanders, and operational support who worked so hard to battle the fire for many hours.
    “At the height of the fire there were 23 trucks and 80 firefighters, as well as support personnel.
    “We also appreciate the excellent support from New Zealand Police, Hato Hone St John, and Auckland Emergency Management, as well as the building’s owners.
    “We were very relieved that all people in the supermarket were able to get out quickly and safely yesterday.
    “This is a very good time for all businesses to check that their own fire evacuation schemes are in place and meet requirements.”
    The cause of the fire has not yet been determined.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Weather News – Rain or shine, Matariki brings us together – MetService

    Source: MetService

    Covering period of Wednesday 18th – Monday 23rd June – After a week of crisp, cold days, MetService is forecasting a shift in the weather as rain moves over the country on Thursday, and showers lingering into Friday morning. While some spots start the day under cloud with a few showers about, the eastern South Island is shaping up as the best spot for viewing Matariki or Puanga— and others may get lucky with clearer skies too.

    Rain moves onto the western South Island late Wednesday continuing into Thursday with some places possibly seeing heavier rain and even thunderstorms. Meanwhile, eastern areas will notice increasing cloud, with patchy rain expected for Southland, inland Otago, and inland Canterbury.

    On Thursday, rain and wind spread across the North Island, with wetter weather expected out west. Eastern areas like Wairarapa, Tairāwhiti Gisborne, and Hawke’s Bay will also see some rain, though it should be brief as the weather system moves through.

    So, what does this mean for Friday morning’s Matariki and Puanga viewing?

    MetService meteorologist Mmathapelo Makgabutlane says, “Showers will still be hanging around, especially in western parts of both islands and the upper North Island, and with showers comes cloud. But there may be gaps – and some spots might be lucky enough to catch a glimpse. Check out MetService’s Cloud Forecast for the outlook for your spot.”

     “Eastern parts of the South Island look most promising – Canterbury near the coast, Marlborough, and maybe even Nelson,” Makgabutlane says.

    The rest of Friday will bring a similar mix of passing showers and dry spells.

    “But rain or shine, this year’s theme Matariki mā Puanga – Celebrating Together will still ring true, giving us a chance to gather indoors or out,” Makgabutlane says.

    The weekend looks to bring a classic Kiwi winter pattern: a few showers here and there, but also plenty of fine breaks.

    “The rain radar will be your friend this long weekend! There will be chances to enjoy some time outdoors,” Makgabutlane adds.

    Inland Otago and the Mackenzie Basin have been sitting under low cloud and cold conditions. While Saturday might bring a brief improvement, the cloud could return before the weekend’s out. Overnight temperatures will reflect that too – after a short-lived increase, Sunday morning looks to dip below zero again.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: GUARDIANS TOPS GLOBAL RANKINGS – NZ Super Fund

    Source: New Zealand Super Fund

    The New Zealand Super Fund has again been awarded a perfect score in the annual GSR (governance, sustainability, resilience) scoreboard published by international sovereign wealth fund experts GlobalSWF.

    Introduced in 2020, GlobalSWF’s GSR scoreboard ranks sovereign wealth funds and public pension funds against 25 criteria including transparency and accountability, governance structure and processes, ethical standards and policies, and alignment with sustainable development goals.

    The Guardians is one of nine sovereign investors to sit at the top of this year’s scoreboard. In preparing these rankings, GlobalSWF analyses 200 Sovereign Wealth Funds and Public Pension Funds, which manage US$ 29.4 trillion on behalf of 80 countries. It is the fifth successive year the Super Fund has received full marks.

    Jo Townsend, CEO of Super Fund manager the Guardians of New Zealand Superannuation, said the GSR scoreboard is based on a comprehensive evaluation of factors that are important to the Fund’s long-term success.

    “I am very pleased to see our team’s hard work recognised by GlobalSWF,” said Ms Townsend.

    More information on Global SWF and the GSR scoreboard can be found here: https://nzsuperfund.cmail19.com/t/d-l-skdilud-hujkdust-n/

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Health – Primary care funding must be passed on to nurses

    Source: New Zealand Nurses Organisation

    Increases in primary care funding must be passed onto nurses to fix chronic staff shortages so New Zealanders can get in to see their doctors, the Nurses Organisation Tōputanga Tapuhi Kaitiaki o Aotearoa (NZNO) says.
    The Government funds GP clinics based on the number of enrolled patients they have, regardless of the services they receive, through what’s called the capitation system.
    NZNO College of Primary Care Nurses chair Tracey Morgan says a capitation increase of 4% last year was widely condemned as forcing general practices to hike their fees.
    Capitation funding for this year is set to increase to 9.13% conditional on general practices agreeing to limit any fee rises to 3%, according to documents leaked to NZ Doctor. The cost-pressure uplift for those who don’t limit their fee rises will be an increase of 6.43%.
    Nurses are urging primary care employers to pass this funding increase onto them via their wages, Tracey Morgan says.
    “This will help stem the flow of nurses out of primary care and into hospitals.
    “A skilled nursing workforce is desperately needed to keep care in the community, ease pressure on hospital emergency departments and prevent long term conditions worsening.
    “During collective agreement bargaining last year, primary care nurses were 16-18% behind their hospital-based colleagues in pay. The employers told the union that if the money was available, they would willingly pass it on to nurses.”
    Primary care nurses will receive a 3% increase in July through their collective agreement which also gave them a further 5% on ratification earlier this year, Tracey Morgan says.
    “However, this will still have them 10% behind hospital nurses with the same qualifications.
    “The Government claims it is focused on shorter wait times for New Zealanders to get in to see their doctor. The ability to recruit and retain primary health nurses is vital to achieving this,” Tracey Morgan says.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Culture – Honouring service and sacrifice: 75th Anniversary of the Korean War

    Source: Ministry for Culture and Heritage

    This year marks the 75th anniversary of the outbreak of the Korean War, a pivotal moment in global history and a significant chapter in New Zealand’s military heritage. A national commemorative service will be held at Pukeahu National War Memorial Park in Wellington on Wednesday 25 June 2025 from 11am.
    “The 25th of June is a day where people can take the opportunity to honour and reflect on the courage and sacrifice of New Zealanders who served in the Korean War,” said Stacey Richardson, Director Office of the Secretary at Manatū Taonga Ministry for Culture and Heritage.
    The commemoration is held on the anniversary of the beginning of the Korean War on 25 June 1950 when communist North Korean forces crossed the 38th Parallel into South Korea.
    “New Zealand was one of the first nations to respond to the United Nations Security Council’s call for military assistance following the invasion of South Korea in June 1950.
    “Over 6,000 New Zealanders served during the Korean War. Around 4,700 New Zealand Army personnel served in Kayforce, with about 1300 others on Royal New Zealand Navy frigates.
    “The ramifications of this war were felt across the world and in Aotearoa. Forty-five New Zealanders lost their lives, and many more were wounded or affected by the conflict”.
    “Our national commemorations provide a space for individual and collective reflection. They bring together veterans, service personnel, communities and members of the public to honour together and reflect on the enduring legacy of war.
    “As we reflect, we can also look forward. We acknowledge the enduring bonds forged between Aotearoa and the Republic of Korea, which have shaped the strong partnership our nations enjoy today,” said Richardson.
    Veterans, their whānau, and members of the public are warmly invited to attend the national commemoration. Anyone who would like to attend should arrive at the Hall of Memories at Pukeahu National War Memorial Park at 10.45am for an 11.00am start.
    For more information about the Korean War and New Zealand’s involvement, visit Manatū Taonga Ministry for Culture and Heritage’s website:  www.mch.govt.nz/news/time-remember-korean-war-commemoration

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Advocacy – Statement from the Palestine Forum of New Zealand

    Source: Palestine Forum of New Zealand

    The Palestine Forum of New Zealand notes with deep appreciation the public statement issued today by ninety‑five New Zealand lawyers urging the Government to adopt a stronger stance on Israel amid escalating tensions in the Middle East.

    We stand in solidarity with these respected members of the legal profession who, in highlighting international law, human rights, and the principles underpinning New Zealand’s foreign policy, are calling for moral and political leadership from our nation.

    Their call comes at a critical juncture: New Zealand’s vote at the UN in support of the resolution recommending Israel’s withdrawal from occupied territories was a step in the right direction. However, it must now be followed by coherent action—politically, diplomatically, and legally—consistent with our international obligations scoop.co.nz+12scoop.co.nz+12scoop.co.nz+12.

    We concur with the lawyers’ analysis:

    • That Israel’s occupation of Palestinian land violates international law.

    • That increasing violence and civilian suffering, particularly in Gaza and the West Bank, demand concrete responses.

    • That New Zealand’s standing as a principled actor in world affairs calls for both clear condemnation of abuses and active support for measures that uphold international law, including:

      • Support for ICC proceedings and arrest warrants for war crimes suspects;

      • The use of targeted sanctions;

      • Suspension of government contracts and investment ties with entities complicit in occupation;

      • Advocacy for an immediate ceasefire, unimpeded humanitarian access, and humanitarian visas for Palestinians fleeing conflict.

    As legal voices within our own legal fraternity have acknowledged, our Government holds not only a right but a duty to lead—ahead of electoral cycles—by placing human rights and international justice at the heart of its foreign policy.

    We call on the Government to honour these principles by engaging thoughtfully with the lawyers’ briefing, committing publicly to concrete measures, and joining the global community in holding violators of international law to account.

    Today’s call by our country’s legal community is both timely and courageous. We affirm their voices. And we renew our call for New Zealand to do the same.

    Maher Nazzal
    Palestine Forum of New Zealand

    MIL OSI New Zealand News –

  • MIL-Evening Report: Sharks come in many different shapes and sizes. But they all follow a centuries-old mathematical rule

    Source: The Conversation (Au and NZ) – By Jodie L. Rummer, Professor of Marine Biology, James Cook University

    Rachel Moore

    From hand-sized lantern sharks that glow in the deep sea to bus-sized whale sharks gliding through tropical waters, sharks come in all shapes and sizes.

    Despite these differences, they all face the same fundamental challenge: how to get oxygen, heat and nutrients to every part of their bodies efficiently.

    Our new study, published today in Royal Society Open Science, shows that sharks follow a centuries-old mathematical rule – the two-thirds scaling law – that predicts how body shape changes with size. This tells us something profound about how evolution works – and why size really does matter.

    What is the two-thirds scaling law?

    The basic idea is mathematical: surface area increases with the square of body length, while volume increases with the cube. That means surface area increases more slowly than volume, and the ratio between the two – crucial for many biological functions – decreases with size.

    This matters because many essential life processes happen at the surface: gas exchange in the lungs or gills, such as to take in oxygen or release carbon dioxide, but also heat loss through skin and nutrient uptake in the gut.

    These processes depend on surface area, while the demands they must meet – such as the crucial task of keeping the body supplied with oxygen – depend on volume. So, the surface area-to-volume ratio shapes how animals function.

    Whale sharks are as big as buses, while dwarf lanternsharks (pictured here) are as small as a human hand.
    Chip Clark/Smithsonian Institution

    Despite its central role in biology, this rule has only ever been rigorously tested in cells, tissues and small organisms such as insects.

    Until now.

    Why sharks?

    Sharks might seem like an unlikely group for testing an old mathematical theory, but they’re actually ideal.

    For starters, they span a huge range of sizes, from the tiny dwarf lantern shark (about 20 centimetres long) to the whale shark (which can exceed 20 metres). They also have diverse shapes and lifestyles – hammerheads, reef-dwellers, deep-sea hunters – each posing different challenges for physiology and movement.

    Plus, sharks are charismatic, ecologically important and increasingly under threat. Understanding their biology is both scientifically valuable and important for conservation.

    Sharks are ecologically important but are increasingly under threat.
    Rachel Moore

    How did we test the rule?

    We used high-resolution 3D models to digitally measure surface area and volume in 54 species of sharks. These models were created using open-source CT scans and photogrammetry, which involves using photographs to approximate a 3D structure. Until recently, these techniques were the domain of video game designers and special effects artists, not biologists.

    We refined the models in Blender, a powerful 3D software tool, and extracted surface and volume data for each species.

    Then we applied phylogenetic regression – a statistical method that accounts for shared evolutionary history – to see how closely shark shapes follow the predictions of the two-thirds rule.

    Sharks follow the two-thirds scaling rule almost perfectly, as seen in this 3D representation.
    Joel Gayford et al

    What did we find?

    The results were striking: sharks follow the two-thirds scaling rule almost perfectly, with surface area scaling to body volume raised to the power of 0.64 – just a 3% difference from the theoretical 0.67.

    This suggests something deeper is going on. Despite their wide range of forms and habitats, sharks seem to converge on the same basic body plan when it comes to surface area and volume. Why?

    One explanation is that what are known as “developmental constraints” – limits imposed by how animals grow and form in early life – make it difficult, or too costly, for sharks to deviate from this fundamental pattern.

    Changing surface area-to-volume ratios might require rewiring how tissues are allocated during embryonic development, something that evolution appears to avoid unless absolutely necessary.

    But why does it matter?

    This isn’t just academic. Many equations in biology, physiology and climate science rely on assumptions about surface area-to-volume ratios.

    These equations are used to model how animals regulate temperature, use oxygen, and respond to environmental stress. Until now, we haven’t had accurate data from large animals to test those assumptions. Our findings give researchers more confidence in using these models – not just for sharks, but potentially for other groups too.

    As we face accelerating climate change and biodiversity loss, understanding how animals of all sizes interact with their environments has never been more urgent.

    This study, powered by modern imaging tech and some old-school curiosity, brings us one step closer to that goal.

    Jodie L. Rummer receives funding from the Australian Research Council. She is affiliated with the Australian Coral Reef Society, as President.

    Joel Gayford receives funding from the Northcote Trust.

    – ref. Sharks come in many different shapes and sizes. But they all follow a centuries-old mathematical rule – https://theconversation.com/sharks-come-in-many-different-shapes-and-sizes-but-they-all-follow-a-centuries-old-mathematical-rule-259050

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Alcaraz survives late scare in Queen’s Club opener

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

    Top two seeds Carlos Alcaraz and Jack Draper both advanced to the second round of the men’s singles at the Queen’s Club Championships on Tuesday.

    Spain’s Alcaraz arrived in London fresh off his second consecutive French Open title. The world No. 2 overcame a late challenge from lucky loser Alex Walton to win his first grass-court match of the season 6-4, 7-6(7).

    Alcaraz had initially been scheduled to face fellow Spaniard Alejandro Davidovich Fokina in the opening round, but the world No. 28 withdrew just hours before the match due to illness following his recent wedding.

    “I didn’t know his game, which shot is his best,” Alcaraz talked about his opponent Walton from Australia. “What I tried is not to think about him but myself. I tried to play as good as I can and that’s all.”

    Earlier, Draper thrilled the home crowd at Andy Murray Arena with a commanding 6-3, 6-1 victory over American Jenson Brooksby.

    “I feel good. I feel confident. I feel relaxed. Like I said on court, I’m happy to be home. I’m happy to be playing in front of home crowd,” said the 23-year-old British No. 1.

    Draper will next face Australian Alexei Popyrin, while Alcaraz is set to play compatriot Jaume Munar.

    MIL OSI China News –

  • MIL-OSI Canada: Prime Minister Carney meets with President of the Republic of Korea Lee Jae Myung

    Source: Government of Canada – Prime Minister

    Today, the Prime Minister, Mark Carney, met with the President of the Republic of Korea, Lee Jae Myung, at the 2025 G7 Leaders’ Summit in Kananaskis, Alberta.

    Canada and Korea hold a dynamic trade and investment relationship. As Canada diversifies its trade and defence relationships, and rearms its armed forces, the relationship between Canada and Korea has immense potential to prosper further. To that end, Prime Minister Carney and President Lee agreed to deepen co-operation between the two nations.

    The Prime Minister underscored Canada’s role as a stable and reliable Pacific nation and its support for a free and open Indo-Pacific region.

    Prime Minister Carney and President Lee agreed to remain in close contact.

    Associated Link

    MIL OSI Canada News –

  • MIL-OSI New Zealand: Update: Single vehicle crash Waikato Expressway Tamahere

    Source: New Zealand Police

    Due to the extent of the spill from the single vehicle crash today at about 11.20am, all four lanes of traffic will be closed for some time.

    Motorists should expect significant delays.

    Police would like to thank motorists for their understanding and patience.

    Traffic management is at the scene and emergency services continue to clear the road.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI Economics: “Defying Boundaries To Celebrate Creativity” — Highlights From Art Basel in Basel 2025

    Source: Samsung

    From June 19 to 22, 2025, Samsung Electronics will collaborate with globally renowned artists to celebrate global diversity, artistic innovation and the power of display technology at Art Basel in Basel 2025, the world’s largest art fair held in Basel, Switzerland.
     
    ▲ As Art Basel’s official display partner, Samsung Electronics offers exclusive access to curated exhibition artworks via the Samsung Art Store, also on display onsite at Art Basel in Basel 2025.
     
    With participation from approximately 280 galleries across 42 countries, Art Basel in Basel 2025 offers a comprehensive view of the latest ideas shaping contemporary art today. As the official display partner, Samsung Electronics presents a new digital art experience that brings together art and technology through its premium screens including The Frame, Micro LED and Neo QLED 8K.
     

    Immersive Digital Art Experience: ‘ArtCube’ Draws Visitors Into the World of Art
    At Art Basel in Basel 2025, Samsung Electronics unveiled ‘ArtCube,’ a lounge dedicated to digital art experiences on Samsung devices. Created under the theme “Borderless, Dive Into the Art,” ArtCube offers a progressively immersive journey as visitors navigate the space.
     
    Passing through a large LED entrance where the Art Basel in Basel Collection from Samsung Art Store is reinterpreted as digital artworks, visitors discover a space showcasing the full lineup of Samsung Art TVs in the ArtCube. Artworks from the Samsung Art Store, displayed across ‘The Frame,’ ‘Micro LED’ and ‘Neo QLED 8K’ screens, envelope the front and side walls to create a deeply immersive experience — one that makes visitors feel as though they have stepped directly into the art itself.
     
    ▲ Samsung Art TVs — including The Frame Pro, MICRO LED and Neo QLED 8K — line the interior walls of ArtCube.
     
    ▲ A visitor views Basim Magdy’s artwork on display at ArtCube, part of the Samsung Art Store collection at Art Basel in Basel 2025.
     
    An interactive experience zone, powered by Samsung Art Store, is also featured. Visitors can select an artist showcased in the exhibition, take a photo and generate a personalized selfie in the chosen artist’s style, using generative AI — offering a distinctive and engaging experience.
     

    Bringing Art Into Everyday Life Through the Samsung Art Store
    Earlier this week, Samsung Electronics has unveiled a new collection featuring 38 highlighted pieces from Art Basel in Basel 2025, now available on the Samsung Art Store. With this launch, Samsung Art Store subscribers around the world can enjoy a diverse selection of Art Basel artworks from the comfort of their homes — without needing to travel to Basel, Switzerland.
     
    As the official display partner of Art Basel for 2025, Samsung Electronics will continue its participation in the annual exhibitions held in Basel, Hong Kong, Paris and Miami. Through Samsung Art Store, the company aims to make art more accessible and seamlessly integrated into everyday life.
     

    The Samsung Art Store* is a subscription-based art service available on Samsung’s The Frame and QLED TVs. Now accessible in 117 countries, the Samsung Art Store offers more than 3,500 artworks in stunning 4K resolution through collaboration with over 70 leading partners.

     
    ▲ Basim Magdy, featured in the Samsung Art Store collection at Art Basel in Basel 2025, views his own work on display at ArtCube.
     
    ▲ Visitors take in the vibrant, dreamlike works of Basim Magdy on display at ArtCube, part of Samsung’s digital art showcase at Art Basel in Basel 2025.
     
    ▲ A visitor captures Lee Kun-yong’s artwork on display at Samsung ArtCube.
     
    ▲ A visitor views Marc Dennis’ artwork on display at Samsung ArtCube.
     
    ▲ A vivid portrait in the style of Marc Dennis captures visitors’ attention at ArtCube, part of Samsung’s digital art showcase at Art Basel in Basel 2025.
     
    ▲ A vivid portrait in the style of Saya Woolfalk captures visitors’ attention at ArtCube, part of Samsung’s digital art showcase at Art Basel in Basel 2025.
     
    ▲ The experience zone highlights the Samsung Art Store and lets visitors create immersive, AI-powered photos with animated elements from featured artworks.
     
    ▲ One of the most striking pieces at ArtCube, Basim Magdy’s “The Dictator and His Cockroach Count Their Blessings” merges satire and dreamlike visuals in Samsung’s digital art showcase.
     
    ▲ Visitors explore the immersive artworks by Marc Dennis at ArtCube, where his vivid, hyperreal art pieces are brought to life with digital projections.
     
     
    * All artworks in Samsung Art Store are available with a membership subscription. Artwork availability is subject to change without prior notice and may vary by region.

    MIL OSI Economics –

  • MIL-OSI Analysis: What is uranium enrichment and how is it used for nuclear bombs? A scientist explains

    Source: The Conversation – Global Perspectives – By Kaitlin Cook, DECRA Fellow, Department of Nuclear Physics and Accelerator Applications, Australian National University

    Uranium ore. RHJPhtotos/Shutterstock

    Late last week, Israel targeted three of Iran’s key nuclear facilities – Natanz, Isfahan and Fordow, killing several Iranian nuclear scientists. The facilities are heavily fortified and largely underground, and there are conflicting reports of how much damage has been done.

    Natanz and Fordow are Iran’s uranium enrichment sites, and Isfahan provides the raw materials, so any damage to these sites would limit Iran’s ability to produce nuclear weapons.

    But what exactly is uranium enrichment and why does it raise concerns?

    To understand what it means to “enrich” uranium, you need to know a little about uranium isotopes and about splitting the atom in a nuclear fission reaction.

    What is an isotope?

    All matter is made of atoms, which in turn are made up of protons, neutrons and electrons. The number of protons is what gives atoms their chemical properties, setting apart the various chemical elements.

    Atoms have equal numbers of protons and electrons. Uranium has 92 protons, for example, while carbon has six. However, the same element can have different numbers of neutrons, forming versions of the element called isotopes.

    This hardly matters for chemical reactions, but their nuclear reactions can be wildly different.

    The difference between uranium-238 and uranium-235

    When we dig uranium out of the ground, 99.27% of it is uranium-238, which has 92 protons and 146 neutrons. Only 0.72% of it is uranium-235 with 92 protons and 143 neutrons (the remaining 0.01% are other isotopes).

    For nuclear power reactors or weapons, we need to change the isotope proportions. That’s because of the two main uranium isotopes, only uranium-235 can support a fission chain reaction: one neutron causes an atom to fission, which produces energy and some more neutrons, causing more fission, and so on.

    This chain reaction releases a tremendous amount of energy. In a nuclear weapon, the goal is to have this chain reaction occur in a fraction of a second, producing a nuclear explosion.

    In a civilian nuclear power plant, the chain reaction is controlled. Nuclear power plants currently produce 9% of the world’s power. Another vital civilian use of nuclear reactions is for producing isotopes used in nuclear medicine for the diagnosis and treatment of various diseases.

    What is uranium enrichment, then?

    To “enrich” uranium means taking the naturally found element and increasing the proportion of uranium-235 while removing uranium-238.

    There are a few ways to do this (including new inventions from Australia), but commercially, enrichment is currently done with a centrifuge. This is also the case in Iran’s facilities.

    Centrifuges exploit the fact that uranium-238 is about 1% heavier than uranium-235. They take uranium (in gas form) and use rotors to spin it at 50,000 to 70,000 rotations per minute, with the outer walls of the centrifuges moving at 400 to 500 metres per second.

    This works much like a salad spinner that throws water to the sides while the salad leaves stay in the centre. The heavier uranium-238 moves to the edges of the centrifuge, leaving the uranium-235 in the middle.

    This is only so effective, so the spinning process is done over and over again, building up the percentage of the uranium-235.

    Most civilian nuclear reactors use “low enriched uranium” that’s been enriched to between 3% and 5%. This means that 3–5% of the total uranium in the sample is now uranium-235. That’s enough to sustain a chain reaction and make electricity.

    What level of enrichment do nuclear weapons need?

    To get an explosive chain reaction, uranium-235 needs to be concentrated significantly more than the levels we use in nuclear reactors for making power or medicines.

    Technically, a nuclear weapon can be made with as little as 20% uranium-235 (known as “highly enriched uranium”), but the more the uranium is enriched, the smaller and lighter the weapon can be. Countries with nuclear weapons tend to use about 90% enriched, “weapons-grade” uranium.

    According to the International Atomic Energy Agency (IAEA), Iran has enriched large quantities of uranium to 60%. It’s actually easier to go from an enrichment of 60% to 90% than it is to get to that initial 60%. That’s because there’s less and less uranium-238 to get rid of.

    This is why Iran is considered to be at extreme risk of producing nuclear weapons, and why centrifuge technology for enrichment is kept secret.

    Ultimately, the exact same centrifuge technology that produces fuel for civilian reactors can be used to produce nuclear weapons.

    Inspectors from the IAEA monitor nuclear facilities worldwide to ensure countries are abiding by the rules set out in the global nuclear non-proliferation treaty. While Iran maintains it’s only enriching uranium for “peaceful purposes”, late last week the IAEA board ruled Iran was in breach of its obligations under the treaty.

    Kaitlin Cook receives funding from the Australian Research Council.

    – ref. What is uranium enrichment and how is it used for nuclear bombs? A scientist explains – https://theconversation.com/what-is-uranium-enrichment-and-how-is-it-used-for-nuclear-bombs-a-scientist-explains-259031

    MIL OSI Analysis –

  • MIL-OSI Analysis: Iran war: from the Middle East to America, history shows you cannot assassinate your way to peace

    Source: The Conversation – Global Perspectives – By Matt Fitzpatrick, Professor in International History, Flinders University

    In the late 1960s, the prevailing opinion among Israeli Shin Bet intelligence officers was that the key to defeating the Palestinian Liberation Organisation was to assassinate its then-leader Yasser Arafat.

    The elimination of Arafat, the Shin Bet commander Yehuda Arbel wrote in his diary, was “a precondition to finding a solution to the Palestinian problem.”

    For other, even more radical Israelis – such as the ultra-nationalist assassin Yigal Amir – the answer lay elsewhere. They sought the assassination of Israeli leaders such as Yitzak Rabin who wanted peace with the Palestinians.

    Despite Rabin’s long personal history as a famed and often ruthless military commander in the 1948 and 1967 Arab-Israeli Wars, Amir stalked and shot Rabin dead in 1995. He believed Rabin had betrayed Israel by signing the Oslo Accords peace deal with Arafat.

    It’s been 20 years since Arafat died as possibly the victim of polonium poisoning, and 30 years after the shooting of Rabin. Peace between Israelis and the Palestinians has never been further away.

    What Amnesty International and a United Nations Special Committee have called genocidal attacks on Palestinians in Gaza have spilled over into Israeli attacks on the prominent leaders of its enemies in Lebanon and, most recently, Iran.

    Since its attacks on Iran began on Friday, Israel has killed numerous military and intelligence leaders, including Iran’s intelligence chief, Mohammad Kazemi; the chief of the armed forces, Mohammad Bagheri; and the commander of the Islamic Revolutionary Guard Corps, Hossein Salami. At least nine Iranian nuclear scientists have also been killed.

    Israel’s Prime Minister Benjamin Netanyahu reportedly said:

    We got their chief intelligence officer and his deputy in Tehran.

    Iran, predictably, has responded with deadly missile attacks on Israel.

    Far from having solved the issue of Middle East peace, assassinations continue to pour oil on the flames.

    A long history of extra-judicial killings

    Israeli journalist Ronen Bergman’s book Rise and Kill First argues assassinations have long sat at the heart of Israeli politics.

    In the past 75 years, there have been more than 2,700 assassination operations undertaken by Israel. These have, in Bergman’s words, attempted to “stop history” and bypass “statesmanship and political discourse”.

    This normalisation of assassinations has been codified in the Israeli expression of “mowing the grass”. This is, as historian Nadim Rouhana has shown, a metaphor for a politics of constant assassination. Enemy “leadership and military facilities must regularly be hit in order to keep them weak.”

    The point is not to solve the underlying political questions at issue. Instead, this approach aims to sow fear, dissent and confusion among enemies.

    Thousands of assassination operations have not, however, proved sufficient to resolve the long-running conflict between Israel, its neighbours and the Palestinians. The tactic itself is surely overdue for retirement.

    Targeted assassinations elsewhere

    Israel has been far from alone in this strategy of assassination and killing.

    Former US President Barack Obama oversaw the extra-judicial killing of Osama Bin Laden, for instance.

    After what Amnesty International and Human Rights Watch denounced as a flawed trial, former US President George W. Bush welcomed the hanging of Iraqi leader Saddam Hussein as “an important milestone on Iraq’s course to becoming a democracy”.

    Current US President Donald Trump oversaw the assassination of Iran’s leader of clandestine military operations, Qassem Soleimani, in 2020.

    More recently, however, Trump appears to have baulked at granting Netanyahu permission to kill Iran’s Supreme Leader Ayatollah Ali Khamenei.

    And it’s worth noting the US Department of Justice last year brought charges against an Iranian man who said he’d been tasked with killing Trump.

    Elsewhere, in Vladimir Putin’s Russia, it’s common for senior political and media opponents to be shot in the streets. Frequently they also “fall” out of high windows, are killed in plane crashes or succumb to mystery “illnesses”.

    A poor record

    Extra-judicial killings, however, have a poor record as a mechanism for solving political problems.

    Cutting off the hydra’s head has generally led to its often immediate replacement by another equally or more ideologically committed person, as has already happened in Iran. Perhaps they too await the next round of “mowing the grass”.

    But as the latest Israeli strikes in Iran and elsewhere show, solving the underlying issue is rarely the point.

    In situations where finding a lasting negotiated settlement would mean painful concessions or strategic risks, assassinations prove simply too tempting. They circumvent the difficulties and complexities of diplomacy while avoiding the need to concede power or territory.

    As many have concluded, however, assassinations have never killed resistance. They have never killed the ideas and experiences that give birth to resistance in the first place.

    Nor have they offered lasting security to those who have ordered the lethal strike.

    Enduring security requires that, at some point, someone grasp the nettle and look to the underlying issues.

    The alternative is the continuation of the brutal pattern of strike and counter-strike for generations to come.

    Matt Fitzpatrick receives funding from the Australian Research Council.

    – ref. Iran war: from the Middle East to America, history shows you cannot assassinate your way to peace – https://theconversation.com/iran-war-from-the-middle-east-to-america-history-shows-you-cannot-assassinate-your-way-to-peace-259038

    MIL OSI Analysis –

  • MIL-OSI Analysis: The Middle East is a major flight hub. How do airlines keep passengers safe during conflict?

    Source: The Conversation – Global Perspectives – By Natasha Heap, Program Director for the Bachelor of Aviation, University of Southern Queensland

    Screenshot June 17 2025, Courtesy of Flightradar24

    The Middle East is a region of intense beauty and ancient kingdoms. It has also repeatedly endured periods of geopolitical instability over many centuries.

    Today, geopolitical, socio-political and religious tensions persist. The world is currently watching as longstanding regional tensions come to a head in the shocking and escalating conflict between Israel and Iran.

    The global airline industry takes a special interest in how such tensions play out. This airspace is a crucial corridor linking Europe, Asia and Africa.

    The Middle East is now home to several of the world’s largest international airlines: Emirates, Qatar Airways and Etihad Airways. These airlines’ home bases – Dubai, Doha and Abu Dhabi, respectively – have become pivotal hubs in international aviation.

    Keeping passengers safe will be all airlines’ highest priority. What could an escalating conflict mean for both the airlines and the travelling public?

    Safety first

    History shows that the civil airline industry and military conflict do not mix. On July 3 1988, the USS Vincennes, a US navy warship, fired two surface-to-air missiles and shot down Iran Air Flight 655, an international passenger service over the Persian Gulf.

    More recently, on July 17 2014, Malaysian Airlines Flight MH17 was shot down over eastern Ukraine as the battle between Ukrainian forces and pro-Russian separatists continued.

    Understandably, global airlines are very risk-averse when it comes to military conflict. The International Civil Aviation Organization requires airlines to implement and maintain a Safety Management System (SMS).

    One of the main concerns – known as “pillars” – of the SMS is “safety risk management”. This includes the processes to identify hazards, assess risks and implement risk mitigation strategies.

    The risk-management departments of airlines transiting the Middle East region will have been working hard on these strategies.

    Headquartered in Montreal, Canada, the International Civil Aviation Organization has strict requirements and protocols to keep passengers safe.
    meunierd/Shutterstock

    Route recalculation

    The most immediate and obvious evidence of such strategies being put in place are changes to aircraft routing, either by cancelling or suspending flights or making changes to the flight plans. This is to ensure aircraft avoid the airspace where military conflicts are flaring.

    At the time of writing, a quick look at flight tracking website Flightradar24 shows global aircraft traffic avoiding the airspace of Iran, Iraq, Syria, Israel, Jordan, Palestine and Lebanon. The airspace over Ukraine is also devoid of air traffic.

    Rerouting, however, creates its own challenges. Condensing the path of the traffic into smaller, more congested areas can push aircraft into and over areas that are not necessarily equipped to deal with such a large increase in traffic.

    Having more aircraft in a smaller amount of available safe airspace creates challenges for air traffic control services and the pilots operating the aircraft.

    More time and fuel

    Avoiding areas of conflict is one of the most visible forms of airline risk management. This may add time to the length of a planned flight, leading to higher fuel consumption and other logistical challenges. This will add to the airlines’ operating costs.

    There will be no impact on the cost of tickets already purchased. But if the instability in the region continues, we may see airline ticket prices increase.

    It is not just the avoidance of airspace in the region that could place upward pressure on the cost of flying. Airliners run on Jet-A1 fuel, produced from oil.

    If Iran closes the Strait of Hormuz, the “world’s most important oil transit chokepoint”, this could see the cost of oil, and in turn Jet-A1, significantly increase. Increasing fuel costs will be passed on the paying passenger. However, some experts believe such a move is unlikely.

    A major hub

    The major aviation hubs in the Middle East provide increased global connectivity, enabling passengers to travel seamlessly between continents.

    Increased regional instability has the potential to disrupt this global connectivity. In the event of a prolonged conflict, airlines operating in and around the region may find they have increased insurance costs. Such costs would eventually find their way passed on to consumers through higher ticket prices.

    The Middle East is a major connecting hub for global aviation.
    Art Konovalov/Shutterstock

    Passenger confidence

    Across the globe, airlines and governments are issuing travel advisories and warnings. The onus is on the travelling public to stay informed about changes to flight status, and potential delays.

    Such warnings and advisories can lead to a drop in passenger confidence, which may then lead to a drop in bookings both into and onwards from the region.

    Until the increase in instability in the Middle East, global airline passenger traffic numbers were larger than pre-pandemic figures. Strong growth had been predicted in the coming decades.

    Anything that results in falling passenger confidence could negatively impact these figures, leading to slowed growth and affecting airline profitability.

    Despite high-profile disasters, aviation remains the safest form of transport. As airlines deal with these challenges they will constantly work to keep flights safe and to win back passenger confidence in this unpredictable situation.

    Natasha Heap 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. The Middle East is a major flight hub. How do airlines keep passengers safe during conflict? – https://theconversation.com/the-middle-east-is-a-major-flight-hub-how-do-airlines-keep-passengers-safe-during-conflict-259034

    MIL OSI Analysis –

  • MIL-OSI Analysis: Australia could become the world’s first net-zero exporter of fossil fuels – here’s how

    Source: The Conversation – Global Perspectives – By Frank Jotzo, Professor, Crawford School of Public Policy and Director, Centre for Climate and Energy Policy, Australian National University

    Photo by Jie Zhao/Corbis via Getty Images

    Australia is among the world’s top three exporters of LNG and second-largest exporter of coal. When burned overseas, these exports result in 1.1 billion tonnes of carbon dioxide emissions a year – almost three times Australia’s domestic emissions.

    Emissions embedded in Australia’s exports do not count towards our national emissions targets. But they contribute to climate change – and they’re the reason for Australia’s international reputation as a fossil-fuel economy.

    On the bright side, Australia boasts huge potential for low-cost renewable energy and a knack for resource industries.

    We can, and should, become a “renewable energy superpower”. This term refers to the potential for Australia to use its bountiful renewable energy resources to make commodities such as iron, ammonia and other products and fuels in “green” or low-emissions ways.

    So how does Australia give salience to this idea on the global stage, while our fossil fuel exports continue? The solution could be a new net-zero target for Australia, in which emissions from green exports are tallied up against those from fossil fuel exports.

    Australia can become a renewable energy superpower.
    Brook Mitchell/Getty Images

    Reinvigorating Australia’s climate policy

    If the clean energy transition eventuates, green exports from Australia will rise over time. This will help reduce the use of coal, gas and oil elsewhere in the world.

    Meanwhile, coal exports – and later, gas exports – will fall. This will happen irrespective of Australia’s policies, as the world economy decarbonises and demand for fossil fuels slows.

    At some point, we can expect emissions avoided by our green commodity exports to surpass those from remaining coal and gas exports. Australia would then reach what could be termed “net-zero export emissions”.

    Adopting this net-zero target as a national policy would give a concrete yardstick to Australia’s green-export ambitions. It could also invigorate Australia’s climate policy and boost investor confidence.

    A different approach would be to set targets only for green exports, and this could be how we get started. Ultimately, a net-zero target wrapping up both green and fossil-fuel exports would speak most directly to the goal of tackling climate change, and is likely to have more impact on the international stage.

    A net-zero export target would give a concrete yardstick to Australia’s ambition to develop green export industries.
    Brook Mitchell/Getty Images

    Getting to net-zero exports

    The below chart shows an illustrative decline in emissions embedded in Australia’s coal and LNG (liquified natural gas) exports, out to 2050.*


    Authors’ calculations based on Australian Energy Update 2024, Australian National Greenhouse Accounts Factors 2024, IEA World Energy Outlook 2024

    It’s hard to pin down when Australia might reach net-zero exports. It depends on several factors. How quickly will the cost of clean energy and green-commodity technologies fall? How competitively can Australia produce green goods compared to other nations? What policies will be adopted in Australia and overseas – and will they work?

    The magnitudes are sobering. Take iron, for example. Australia currently exports 900 million tonnes of iron ore a year. This is processed overseas to about 560 million tonnes of iron.

    To fully compensate for emissions currently embedded in Australia’s coal and gas exports, Australia would need to process about the same amount of green iron – around 550 million tonnes – on home soil every year.

    To reach this figure, we assume 0.1 tonnes of CO₂-equivalent is created per tonne of green iron, compared to about 2.1 tonnes of CO₂-equivalent per tonne of iron resulting from conventional blast furnace production.

    Achieving this would require keeping iron ore production at current levels and processing it all in Australia, which is unlikely to be realistic.

    Thankfully, the task of reaching net-zero export emissions will be smaller in future, as global coal and gas demand falls. But exactly how this will translate to Australian exports is highly uncertain.

    Let’s suppose Australia’s exports evolved on the same trajectory as they might under current climate policies and pledges for the global coal and gas trade.

    In this case, embedded emissions from Australia’s coal and gas exports would be about 360 million tonnes in 2050. This includes about 120 million tonnes from LNG exports – much of it locked in by the extension to Woodside’s North West Shelf project off Western Australia.

    Hypothetically, the 360 million tonnes of emissions could be negated by a mix of green exports. They include 102 million tonnes of green iron (saving 204 million tonnes of CO₂), and 11 million tonnes of green ammonia (saving about 23 million tonnes of CO₂), and the remainder covered by a combination of green aluminium, silicon, methanol and transport fuels.

    Judgement calls would be needed about which commodities to include in the target. The composition of green exports suggested above is akin to assumptions about Australia’s potential global market share outlined by The Superpower Institute.

    Importantly, it’s hard to predict with certainty the greenhouse gas emissions displaced elsewhere in the world by Australia’s green exports. So, the estimates should be understood as broad illustrations, and not as exact as the accounting used to calculate countries’ domestic emissions.

    The precise year chosen for reaching a net-zero target for export emissions may well be less important than the commitment that, at some point, Australia’s green energy exports will exceed fossil fuel exports. This would establish the notion that Australia has the capacity and willingness to help the world decarbonise.

    At some point, Australia’s green energy exports will exceed fossil fuel exports.
    David Gray/Getty Images

    A positive agenda for change

    The export target could be part of Australia’s updated emissions pledge due to be submitted to the United Nations by September this year. The pledge, known as a Nationally Determined Contribution (NDC), is required by signatories to the Paris Agreement.

    Each nation is expected to detail its national emissions target for 2035. But nations can make additional pledges towards the world’s climate change effort. You could call it an “NDC+”.

    So Australia could outline an indicative goal for net-zero exports – perhaps alongside other pledges such as leveraging climate change finance for developing countries, or helping our Pacific neighbours adapt to climate change impacts.

    As a large fossil fuels exporter, Australia would earn kudos for showing it has a positive agenda for change.

    And if Australia wins the bid to host the COP31 climate conference next year, a plan to reduce export emissions could be a major rallying point.

    * Underlying data for the chart showing an expected decline in future emissions embedded in Australia’s coal and LNG exports:

    Exports in 2022–23: coal, 9.6 exajoules (EJ); LNG, 4.5 EJ, from Australian Energy Update. This was multiplied by an emissions factor 90.2 for coal (MtCO₂-e/EJ) and 51.5 for LNG (MtCO₂-e/EJ), as drawn from the Australian National Greenhouse Accounts Factors

    Exports for 2035 and 2050: this assumes a trend aligned with the IEA’s Announced Pledges Scenario, as outlined in the World Energy Outlook 2024. Note the percentage changes from 2023 to 2035 and 2050 for coal (-45% and -73% respectively) and for LNG (+9% and -47% respectively.) These figures do not distinguish between steam coal for power and metallurgical coal.

    Frank Jotzo leads research projects on climate, energy and industry policy. He is a commissioner with the NSW Net Zero Commission and chairs the Queensland Clean Economy Expert Panel.

    Annette Zou works on research projects on climate policy and decarbonisation and has previously worked with The Superpower Institute

    – ref. Australia could become the world’s first net-zero exporter of fossil fuels – here’s how – https://theconversation.com/australia-could-become-the-worlds-first-net-zero-exporter-of-fossil-fuels-heres-how-259037

    MIL OSI Analysis –

  • MIL-OSI Analysis: How high can US debt go before it triggers a financial crisis?

    Source: The Conversation – Global Perspectives – By Luke Hartigan, Lecturer in Economics, University of Sydney

    rarrarorro/Shutterstock

    The tax cuts bill currently being debated by the US Senate will add another US$3 trillion (A$4.6 trillion) to US debt. President Donald Trump calls it the “big, beautiful bill”; his erstwhile policy adviser Elon Musk called it a “disgusting abomination”.

    Foreign investors have already been rattled by Trump’s upending of the global trade system. The eruption of war in the Middle East would usually lead to “flight to safety” buying of the US dollar, but the dollar has barely budged. That suggests US assets are not seen as the safe haven they used to be.

    Greg Combet, chair of Australia’s own sovereign wealth fund, the Future Fund, outlined many of the new risks arising from US policies in a speech on Tuesday.

    As investors turn cautious on the US, at some point the surging US debt pile will become unsustainable. That could risk a financial crisis. But at what point does that happen?

    The public sector holds a range of debt

    When talking about the sustainability of US government debt, we have to distinguish between total debt and public debt.

    Public debt is owed to individuals, companies, foreign governments and investors. This accounts for about 80% of total US debt. The remainder is intra-governmental debt held by government agencies and the Federal Reserve.

    Public debt is a more correct measure of US government debt. And it is much less than the headline total government debt amount that is frequently quoted, which is running at US$36 trillion or 121% of GDP.

    Are there limits to government debt?

    Governments are not like households. They can feasibly roll over debt indefinitely and don’t technically need to repay it, unlike a personal credit card. And countries such as the US that issue debt in their own currency can’t technically default unless they choose to.

    Debt also serves a useful role. It is the main way a government funds infrastructure projects. It is an important channel for monetary policy, because the US Federal Reserve sets the benchmark interest rate that affects borrowing costs across the economy. And because the US government issues bonds, known as Treasuries, to finance the debt, this is an important asset for investors.

    There is probably some limit to the amount of debt the US government can issue. But we don’t really know what this amount is, and we won’t know until we get there. Additionally, the US’s reserve currency status, due to the US dollar’s dominant role in international finance, gives the US government more leeway than other governments.

    Interest costs are surging

    What is important is the government’s ability to service its debt – that is, to pay the interest cost. This depends on two components: growth in economic activity, and the interest rate on government debt.

    If economic growth on average is higher than the interest rate, then the government’s effective interest cost is negative and it could sustainably carry its existing debt burden.

    The interest cost of US government debt has surged recently following a series of Federal Reserve interest rate hikes in 2022 and 2023 to quell inflation.

    The US government is now spending more on interest payments than on defence – about US$882 billion annually. This will soon start crowding out spending in other areas, unless taxes are raised or further spending cuts made.

    Recent policy decisions not helping

    The turmoil caused by Trump’s “Liberation Day” tariffs and heightened uncertainty about future government policy are expected to weaken US economic growth and raise inflation. This, coupled with the recent credit downgrade of US government debt by ratings agency Moody’s, is likely to put upward pressure on US interest rates, further increasing the servicing cost of US government debt.

    Moody’s cited concerns about the growth of US federal debt. This comes as the US House of Representatives passed the “One Big Beautiful Bill Act”, which seeks to extend the 2017 tax cuts indefinitely while slashing social spending. This has caused some to question the sustainability of the US government’s fiscal position.

    The non-partisan Congressional Budget Office estimates the bill will add a further US$3 trillion to government debt over the ten years to 2034, increasing debt to 124% of GDP. And this would increase to US$4.5 trillion over ten years and take debt to 128% of GDP if some tax initiatives were made permanent.

    Also troubling is Section 899 of the bill, known as the “revenge tax”. This controversial provision raises the tax payable by foreign investors and could further deter foreign investment, potentially making US government debt even less attractive.

    A compromised Federal Reserve is the next risk

    The passing of the tax and spending bill is unlikely to cause a financial crisis in the US. But the US could be entering into a period of “fiscal dominance”, which is just as concerning.

    In this situation, the independence of the Federal Reserve might be compromised if it is pressured to support the US government’s fiscal position. It would do this by keeping interest rates lower than otherwise, or buying government debt to support the government instead of targeting inflation. Trump has already been putting pressure on Federal Reserve chair Jerome Powell, demanding he cut rates immediately.

    This could lead to much higher inflation in the US, as occurred in Germany in the 1920s, and more recently in Argentina and Turkey.

    Luke Hartigan receives funding from the Australian Research Council (DP230100959)

    – ref. How high can US debt go before it triggers a financial crisis? – https://theconversation.com/how-high-can-us-debt-go-before-it-triggers-a-financial-crisis-258812

    MIL OSI Analysis –

  • MIL-OSI Submissions: Marine Environment – Three major French investors reject deep sea mining

    Source: United Nations Ocean Conference (UNOC)

    Three major French financial institutions, including two of the country’s largest banks and the state’s public investment arm, have announced their rejection of deep sea mining during the United Nations Ocean Conference (UNOC) last week in Nice.

    The three institutions are:

    • BNP Paribas – France’s largest and Europe’s second largest bank. BNP Paribasconfirms it does not invest in deep sea mining projects due to the intrinsic environmental and social risks involved.

    • Crédit Agricole – The second largest bank in France and the world’s largest cooperative financial institution. Crédit Agricole stated it will not finance deep sea mining projects until it has been proven that such operations pose no significant harm to marine ecosystems.

    • Groupe Caisse des Dépôts – The public investment arm of the French Government, which also holds a majority stake in La Banque Postale. The Group has pledged to exclude all financing and investment in companies whose main activity is deep sea mining, as well as in deep sea mining projects.

    Amundi Asset Management also made a statement that it seeks to avoid investment in companies “involved in deep sea mining and/or exploration”.

    This now brings to 24 the number of financial institutions who exclude deep sea mining in some form. 

    Deep Sea Mining Campaign Finance Advocacy Officer Andy Whitmore says: “This is a truly significant outcome from UNOC. Until recently no French financiers had matched their Government’s position calling for a ban. This UN Ocean Conference, co-hosted by France, was the perfect opportunity for the most important national players to step up and be counted”

    These financial announcements are a sign of global concern pushing itself on to the agenda. World leaders renewed calls for a global moratorium on the dangerous industry, with French President Emmanuel Macron denouncing it as “madness”, with UN Secretary-General António Guterres responding to recent announcements from President Trump by warning that the deep sea “cannot become the Wild West.” Slovenia, Latvia, Cyprus and the Marshall Islands also announced their support for a moratorium or precautionary pause, bringing the number of like-minded countries to 37. 

    Andy Whitmore concluded “the events at UNOC have added further momentum to the financial establishment rejecting deep sea mining. The recent unseemly rush to mine is creating push-back from the financial world, as much as from governments and civil society.”

    Read the Full List of Financiers Excluding DSM.

    MIL OSI – Submitted News –

  • MIL-OSI China: Terracotta Warriors take center stage in new XR experience

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

    A new extended reality (XR) experience based on the Terracotta Warriors, titled “The Empire Code: Terracotta Warriors – Secrets of the First Emperor’s Mausoleum,” was unveiled on June 14 at the 27th Shanghai International Film Festival (SIFF).

    Wang Yuan, general producer and chairwoman of Xi’an Hongwen Digital Technology Co., introduces “The Empire Code” at the opening of the XR section during the 27th Shanghai International Film Festival, June 14, 2025. [Photo courtesy of Xi’an Hongwen Digital Technology]

    “The Empire Code,” the first XR project officially authorized by Emperor Qinshihuang’s Mausoleum Site Museum, draws on the famous Terracotta Warrior pits and other archaeological discoveries from the UNESCO World Heritage site in Xi’an, Shaanxi province. The interactive underground tomb experience is designed to set a new standard for presenting Chinese civilization in the digital age.

    The project was unveiled at the launch of the festival’s SIFF XR section. Wang Yuan, general producer and chairwoman of Xi’an Hongwen Digital Technology, a joint venture between Shaanxi Culture Industry Investment Group and HTC, said the team was not using technology to resurrect cultural relics, but to allow them to “open history’s door through technology.”

    “Virtual reality serves as a radiant bridge across time, connecting ancient wisdom, eternal art and future imagination,” she added.

    A poster for “The Empire Code: Terracotta Warriors – Secrets of the First Emperor’s Mausoleum.” [Image courtesy of Xi’an Hongwen Digital Technology]

    Along with a trailer and poster launched in Shanghai, audiences can preview a five-minute immersive experience during the festival. The full version is set to open this summer in Beijing and Xi’an.

    The project will also be presented at the festival’s International Film & TV Market, where organizers aim to showcase China’s digital cultural solutions and technological expertise to a global audience.

    “The Empire Code” brings together specialists in archaeology, filmmaking and virtual reality. Historical accuracy is overseen by Zhang Weixing, a researcher at Northwest University’s Collaborative Research Center for Archaeology of the Silk Roads and former head of Emperor Qinshihuang’s Mausoleum Site excavation team. Acclaimed director Jin Tiemu crafts the narrative, while production designer Huo Tingxiao recreates authentic Qin dynasty visuals. The project also draws on technical expertise from HTC Vive Arts, which has partnered with more than 70 museums worldwide, and Wevr, known for its work in 3D and game development.

    A man experiences a preview of “The Empire Code” during the 27th Shanghai International Film Festival on June 14, 2025. [Photo courtesy of SIFF Organizing Committee]

    The project uses XR technology such as 5K ultra-high-definition rendering, six degrees of freedom motion tracking and gesture controls to create an immersive experience aimed at minimizing motion sickness.

    Producers say the cross-disciplinary effort combines cultural, artistic and technological elements, providing an interactive way to share China’s history while maintaining cultural authenticity.

    “The Empire Code” was announced alongside several upcoming projects at SIFF XR, including virtual reality adaptations of China’s animated blockbuster “Chang An,” Jules Verne’s “Journey to the Center of the Earth” and the historical VR film “Creation of the Gods Prequel: A Female General in Shang Dynasty’s Golden Age.”

    Other highlights include the sci-fi VR experience “The Devourer,” based on renowned writer Liu Cixin’s short story in which players defend Earth from aliens, and the location-based mixed reality piece “A Tapestry of a Legendary Land,” adapted from the popular dance drama that immerses audiences in Song dynasty artistry.

    The opening of the XR section at the 27th Shanghai International Film Festival, June 14, 2025. [Photo courtesy of Xi’an Hongwen Digital Technology]

    SIFF XR, a collaboration between the 27th SIFF and the Putuo Culture and Tourism Bureau, ran from June 14 to 16. The event showcased 16 domestic and international feature films, including several global and Asian premieres. 

    Highlights included “Mnemosyne,” inspired by the classical Chinese opera “The Peony Pavilion,” and “Golog Unbounded,” which explores the natural landscapes of Qinghai province. Attendees could also explore the anime universe of “Gundam” and experience narrative-driven works such as “Nana Lou” and “Jack & Flo.”

    By combining film, gaming, performance and tourism, SIFF XR offered immersive experiences that blurred the line between cinema and reality.

    MIL OSI China News –

  • MIL-OSI China: More US exhibitors to take part in 3rd supply chain expo

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

    An increasing number of exhibitors from the United States will participate in the third China International Supply Chain Expo (CISCE) this July, signaling their confidence in the Chinese economy despite anti-globalization headwinds, the event organizer said Tuesday.

    The number of U.S. exhibitors is expected to increase by 15 percent compared with the previous edition, and 60 percent of them are Global Fortune 500 companies, said Yu Jianlong, vice president of the China Council for the Promotion of International Trade (CCPIT), at a press conference.

    U.S. tech giant Nvidia is expected to make its debut at the expo. During his visit to Beijing in April, Nvidia CEO Jensen Huang met with CCPIT chairman Ren Hongbin and emphasized that China is a very important market for Nvidia, expressing the company’s willingness to continue cooperation with China.

    Overseas participants at the upcoming expo are estimated to account for 35 percent of the total of 650 exhibitors from 75 countries, regions and international organizations, with half of the overseas participants coming from Europe and the United States, according to Yu.

    “Against the backdrop of a complex international situation and anti-globalization headwinds, the gathering of so many friends from all over the world, especially those from the global business community, is a vote of confidence in the expo and also in China’s economic development,” Yu said.

    The third CISCE will take place in Beijing from July 16 to 20, with Thailand as the guest country of honor.

    As the world’s first national-level exhibition focusing on supply chains, the expo is an internationally shared public product. First held in 2023, the expo has contributed to building more secure, stable, open and inclusive global industrial and supply chains, according to the CCPIT.

    Last year, U.S. companies made a strong presence at the second edition of the expo in Beijing, with well-known American firms such as Apple and Tesla seeking to further tap into China’s vast market.

    The upcoming expo will feature a new exhibition area dedicated to the innovation chain, aimed at promoting the commercialization of lab-developed technologies and fostering seamless integration between the innovation and industrial chains, the CCPIT said. 

    MIL OSI China News –

  • MIL-OSI New Zealand: Universities and Trade – Strengthening ties to China during Prime Minister’s trade delegation

    Source: Te Herenga Waka—Victoria University of Wellington

    Launching new study abroad and research collaboration partnerships with top Chinese universities and research institutes is the focus of Te Herenga Waka—Victoria University of Wellington’s involvement in the Prime Minister’s trade delegation to China.  

    Vice-Chancellor Professor Nic Smith is delighted to be participating in this visit to China to formalise these arrangements which offer exciting opportunities to future students interested in coming to study in Aotearoa New Zealand, as well as forge new research collaborations.  

    These partnerships include a major research partnership with Shanghai’s prestigious Fudan University, focused on public health, biotechnology, and climate science, as well as articulation and study abroad agreements with one of China’s largest universities, Zhengzhou University.    

    This visit provides an important opportunity for Victoria University of Wellington to position itself as a top choice for students to consider when looking at studying overseas, says Professor Smith.    

    “We are committed to deepening our partnerships with China’s leading institutions—united by a shared ambition to blend academic excellence with global citizenship.  

    “Together, we are preparing the next generation to lead with knowledge, empathy, and purpose.”  

    “Being part of this delegation reflects New Zealand’s recognition of universities as engines of innovation, diplomacy, and enduring global relationships. It is a privilege to represent our sector and reinforce education’s vital role in connecting nations.”  

    Prime Minister Rt Hon Christopher Luxon says New Zealand’s education sector is globally respected for its quality, innovation, and commitment to partnership.  

    “Our universities, including Victoria University of Wellington, play a key role in fostering long-term academic and research collaborations with countries like China. These connections not only support student mobility and world-class research but also strengthen the broader relationship between our two countries.”  

    Victoria University of Wellington already maintains deep connections and a broad reach across China through longstanding research partnerships, student mobility programmes, and alumni networks.  

    The University first signed an agreement with Xiamen University in the 1980s, and its Confucius Institute was opened by Chinese President Xi Jinping during his visit to New Zealand in 2010. It is a founding partner of the New Zealand Centre at Peking University and hosts the pre-eminent New Zealand Contemporary Chinese Research Centre.

    In 2023, Victoria University of Wellington welcomed its first cohort of students enrolled at a Joint Institute through a partnership with China’s largest university—Zhengzhou University, a globally ranked university with around 73,000 students.   

    Professor Smith says universities play a crucial role in international dialogue as the world faces increasingly complex challenges.  

    “In a world facing complex, interconnected challenges—from climate change to public health—our researchers are advancing global solutions. This delegation is a powerful opportunity to showcase how collaboration across borders strengthens those efforts.”

    “At Victoria University of Wellington, we see education not simply as a journey, but as a launchpad—for discovery, for leadership, and for impact. We are proud to support the aspirations of students who will shape the future of our world.”  

    The University will also be launching the Kitea Impact Programme—a leadership development initiative for future global changemakers—and a work integrated learning programme which provides students with hands-on experience in real-world projects while offering New Zealand businesses deeper insights into the Chinese market and access to top talent.  

    Professor Smith will participate in official events and meetings in Beijing and Shanghai and will reinforce Victoria University of Wellington’s commitment to China by signing partnership agreements with a number of prestigious Chinese universities.  

    About the partnerships  

    • Research collaboration with Fudan University, Shanghai—one of China’s most prestigious and research-intensive universities—in the areas of public health, biotechnology, and climate science.   
    • Student mobility agreements with Communication University of Zhejiang, Hangzhou—one of the two leading universities in China specialising in cultivating professionals for China’s media and broadcast industries. Students will be provided a pathway into Victoria University of Wellington’s Master’s degrees in Computer Science, and Intercultural Communication and Applied Translation.   
    • Research collaboration with the Chinese Academy of Social Sciences—a leading research centre in Beijing in the fields of philosophy and social sciences. The research collaboration with Victoria University of Wellington’s New Zealand Contemporary China Research Centre focuses on climate change, diaspora studies, and modern Chinese history.   
    • Student mobility agreements with Yantai University, a comprehensive university in Shandong with more than 29,000 students, which will see students transfer to complete a Victoria University of Wellington Bachelor degree in Language Sciences.   
    • Study abroad agreement with Zhengzhou University in Henan. With around 73,000 students, it is the largest university in China. The agreement will allow students from ZZU to study at VUW for one or two trimesters.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: First Responders – Victoria Park New World Fire Update #5

    Source: Fire and Emergency New Zealand

    Two crews of firefighters remain at the Victoria Park New World supermarket in Auckland, following yesterday’s fire, and the section of Victoria St between College Hill and Franklin Rd is still closed.
    The fire was extinguished last night and the firefighters are monitoring hotspots, Incident Controller Phil Larcombe says. Further assessment and observations will be made after daybreak, using an aerial appliance.
    The property is extensively damaged, and fire investigators have returned today to continue working to establish the origin and cause of the fire.
    Phil Larcombe says that Fire and Emergency expects to maintain a presence at the scene for most of today.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Health – New drug report shows record need for harm reduction and support services

    Source: NZ Drug Foundation Te Puna Whakaiti Pāmamae Kai Whakapiri

    A new report that pulls together the most recent data on drug consumption, prevalence of use, price and availability shows illicit drug use continues to steadily increase across the board, with the NZ Drug Foundation warning that investment in harm reduction, early intervention and support hasn’t kept pace. (ref. https://drugfoundation.us3.list-manage.com/track/click?u=12b1eb03b683b7209e15a8fcb&id=94b2792155&e=19a223383c )

    The Foundation’s latest annual Drug use in Aotearoa report for 2023/24 shows sharp increases in methamphetamine and cocaine consumption, and an uptick in frequency of use.

    Drug Foundation Executive Director Sarah Helm says the report underlines the need for greater investment in harm reduction and support services.

    “This report shows there is more need than ever for accessible harm reduction information and early intervention so that we can help people prevent issues before they arise,” she says.

    “The sharp increase in cocaine and methamphetamine use has happened against the backdrop of long-term under-investment in addiction services and the sector is now under intense strain. We urgently need to turn that around.”

    While New Zealand has historically seen low levels of cocaine use, consumption increased 229% in 2024 compared with the previous three years’ average. Methamphetamine use increased 74% over the same period.

    Helm says the report also shows that people are using cocaine and methamphetamine more often.

    “Information from the NZ Drug Tr

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Delivering better orthopaedic care for Northland

    Source: New Zealand Government

    The Government is delivering on its commitment to improve healthcare access across the country, with expanded orthopaedic services now reaching more patients in Northland, Health Minister Simeon Brown says.

    “New Zealanders deserve timely, high-quality healthcare no matter where they live – and that’s exactly what we’re delivering for both urban and rural Northlanders,” Mr Brown says.

    In a major boost to orthopaedic services, Health New Zealand has welcomed three new orthopaedic surgeons to the Northland region. Their arrival has significantly increased the capacity to see and treat more patients, including through outreach clinics in rural areas.

    “These additional surgeons mean around 160 more people can be seen every month, including through specialist clinics, follow-ups and first specialist assessments.

    “This will help to reduce wait times and improve access to care – particularly for people in more remote areas.”

    One of the new surgeons is also running a weekly diabetic foot clinic, with plans to expand this into a multidisciplinary service aimed at improving outcomes, preventing amputations, and reducing hospital admissions.

    Meanwhile, Kaitaia Hospital has achieved a significant milestone with the completion of its first total knee replacement surgery – bringing advanced orthopaedic care even closer to home for Far North residents.

    “This is a fantastic result for patients in the Far North. Kaitaia is over two and a half hours from Whangārei and being able to access this level of care locally means people can recover in their own community, supported by family and familiar surroundings.”

    “These developments reflect our Government’s clear focus on improving access to health services, reducing pressure on the system, and ensuring better outcomes for all New Zealanders.

    “We’re backing our health workforce, investing in regional capacity, and ensuring care is delivered where it’s needed most.

    “This is about delivering practical, meaningful improvements to healthcare in the regions – and making sure Northlanders get the care they need, closer to home,” Mr Brown says.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: One offender caught after Napier pharmacy burglary

    Source: New Zealand Police

    Attribute to Inspector Caroline Martin Hawke’s Bay Area Prevention Manager.

    Police have made one arrest for the burglary of the Life Pharmacy on Monday 16 June.

    Two alleged offenders entered the Emerson Street premises around 2.30am using a weapon to break through a glass door.

    They took several items from the store before fleeing the area.

    A short time later, Police located one of the vehicles on Venables Avenue and found items believed to be from the store. 

    After making enquiries, Police identified and located a youth, who was spoken to by Police. The youth has been referred to Youth Aid and the items have been returned to the store.

    It is unacceptable to see young people committing these types of offences, but we are pleased that the public and Police working together resulted in one apprehension so far and recovery of the stolen items.

    We understand the harm and concern this causes for those in our community, especially our retailers.

    We hope these results are a reminder to the Napier community that we are taking offending of this nature seriously, and we will continue to take action.

    Police are continuing to follow positive lines of inquiry and are appealing to the public for any information that may assist in our investigation.

    Please contact Police through 105, either online or via phone and quote the reference number 250616/1867.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Optus agrees to $100m penalty, subject to court approval, for unconscionable conduct

    Source: Australian Ministers for Regional Development

    Scam warning: The ACCC is aware that scammers may call, email or text to falsely offer to help get compensation from various businesses. They may use this media release about compensation to convince people their contact is real.

    STOP – Don’t give money or personal information to anyone if you’re unsure. Scammers will create a sense of urgency. Don’t rush to act. Don’t click on links even if the message appears to come from Optus. Say ‘no’, hang up, delete.

    CHECK – Ask yourself could the call, email or text be fake? Scammers pretend to be from organisations and entities you know and trust. Contact the organisation using information you source independently, so that you can verify if it is real or not.

    PROTECT – Act quickly if something feels wrong. Contact your bank immediately if you lose money. If you have provided personal information call IDCARE on 1800 595 160. The more we talk the less power they have. Report scams to the National Anti-Scam Centre’s Scamwatch service at scamwatch.gov.au when you see them.

    Optus Mobile Pty Ltd (Optus) has admitted to engaging in unconscionable conduct when selling telecommunications goods and services to hundreds of consumers, after court action brought by the ACCC.

    In many instances the consumers did not want or need, could not use or could not afford what they were sold, and in some cases consumers were pursued for debts resulting from these sales.

    Many of the affected consumers were vulnerable or experiencing disadvantage, such as living with a mental disability, diminished cognitive capacity or learning difficulties, being financially dependent or unemployed, having limited financial literacy or English not being a first language. Many of the consumers were First Nations Australians from regional, remote and very remote parts of Australia.

    As part of an agreement announced today, the ACCC and Optus will jointly ask the Federal Court to impose a total penalty of $100 million on Optus for breaching the Australian Consumer Law. It is a matter for the Court to decide whether the penalty is appropriate and to make other orders.

    Optus has admitted that its sales staff acted unconscionably when selling phones and contracts to over 400 consumers at 16 different stores across Australia between August 2019 and July 2023. Examples of the conduct engaged in by the sales staff included:

    • putting undue pressure on consumers to purchase a large number of products, including expensive phones and accessories, that they did not want or need, could not use or could not afford;
    • failing to explain relevant terms and conditions to vulnerable consumers in a manner they could understand, resulting in them not understanding their ongoing payment obligations;
    • not having regard to whether consumers had Optus coverage where they lived;
    • selling products and services which Optus knew, or ought reasonably to have known, the consumers could not afford; and
    • misleading these consumers to believe that goods were free or included as part of a bundle at no additional cost.

    Optus has also signed an undertaking, accepted by the ACCC, that it will compensate impacted consumers and improve its internal systems, the commencement of which is subject to the Court making relevant orders.

    “The conduct, which included selling inappropriate, unwanted or unaffordable mobiles and phone plans to people who are vulnerable or experiencing disadvantage is simply unacceptable,” ACCC Deputy Chair Catriona Lowe said.

    “During our investigation into this case, the ACCC heard many stories of the impact of this conduct on affected consumers.”

    “Many of these consumers who were vulnerable or experiencing disadvantage also experienced significant financial harm. They accrued thousands of dollars of unexpected debt and some were pursued by debt collectors, in some instances for years,” Ms Lowe said.

    “It is not surprising, and indeed could and should have been anticipated, that this conduct caused many of these people significant emotional distress and fear.”

    “We are particularly concerned that Optus engaged debt collectors to pursue some of these consumers after it had launched internal investigations into the sales conduct,” Ms Lowe said.

    “Optus has admitted to this conduct and has appropriately committed to changing its systems. It has begun compensating affected consumers.”

    “We are grateful to the many advocates, financial counsellors and carers who assisted the impacted individuals. We also thank the Telecommunications Industry Ombudsman for their role in drawing these issues to our attention.”

    Optus admits inappropriate practices, using debt collectors

    Optus has admitted that the inappropriate sales practices affected many consumers in its two Darwin stores and 24 individuals in stores around Australia.

    In respect of the Mount Isa store, which has now closed, Optus pursued debts in circumstances where its senior management knew that those debts related to contracts for goods and services that had been or might have been created without the knowledge of the affected consumers, the majority of whom were First Nations Australians from Mount Isa and the Northern Territory.

    Optus’s senior management became increasingly aware that Optus staff were engaging in the inappropriate sales practices and that Optus’s systems and controls could not stop the conduct. Optus acknowledged it failed to promptly take steps to fix deficiencies in its systems, which allowed the conduct to continue.

    Commission-based sales arrangements for Optus’s sales staff had the potential to incentivise the inappropriate sales conduct, despite the Telecommunications Consumer Protections Code requiring Optus, from 17 June 2022, to have regard to the ACCC’s best practice recommendations, which recommend businesses avoid commission-based selling because of its potential to exacerbate the vulnerability of consumers.

    This case follows similar ACCC action against Telstra, which was ordered in May 2021 to pay a $50 million penalty for engaging in unconscionable conduct when it sold mobile contracts to 108 Indigenous consumers between at least 1 January 2016 and about 27 August 2018.

    Summary of the proposed Undertaking

    Optus has given an undertaking to provide remediation and has started compensating consumers. It has undertaken to address claims through a clear resolution process.

    Optus has undertaken to make a $1 million donation to an organisation facilitating digital literacy of First Nations Australians.

    Optus has undertaken to review its complaint handling, improve staff training, change its debt collection systems, and make other changes to systems and procedures.

    It has undertaken to change the remuneration structure of sales staff to disincentivise them from engaging in similar conduct.

    It has also commenced buying back 34 Optus licensee stores in the Northern Territory, Queensland and South Australia.

    Consumers who think they may have been impacted by conduct similar to that outlined in the undertaking can call Optus’s specialist customer care team on 1300 082 820 for further information or support.

    The undertaking offered by Optus, and accepted by the ACCC, is available at Optus Mobile Pty Ltd. It will come into force once the court makes final orders.

    Examples of alleged conduct

    A First Nations consumer, who speaks English as a second language and lives in a remote community with no Optus coverage, was approached by Optus staff outside an Optus store and pressured to enter. They did not want or need a new phone. They thought staff were offering them a free phone and other free products and felt pressured by staff to accept.

    They were contracted to two high-end phones, three phone plans, two Device Protect services and one accessories bundle, which had a total minimum cost of $3,808 over 24 months. The following day, the consumer was entered into a second contract for a phone plan and accessories, for a total minimum of $540. The consumer was not informed there was no coverage at their home address, and false information was entered into their credit check. The consumer had their debt referred to debt collectors and was contacted on many occasions by the debt collector. The consumer sought the assistance of a financial counsellor as they did not understand what the debt related to.

    Another consumer, who lives with an intellectual disability, attended an Optus store with a support worker to purchase a $20 pre-paid recharge for their phone. The consumer’s main source of income was the disability support pension. They were told by Optus staff that they could get a new phone and a free speaker for $30 a month, and were pressured into the purchase.

    Optus staff added a false ABN to their account and manipulated credit checks. The consumer was entered into three separate contracts for a phone, plans and a smart watch and accessories, which they could not afford and would cost over $8,000 over 36 months. The consumer went to a community legal centre who assisted them with cancelling the contracts with Optus. 

    In 2019 an internal Optus investigation into customer accounts at the Optus store in Mount Isa resulted in a report that identified that the store manager had falsified identification documents and consumer information to create services and had used the identities of First Nations consumers who were not aware that their identities had been used. The report identified 82 contracts that appeared to have been fraudulently completed without consumer knowledge.

    After Optus was notified of the conduct the subject of the report, including through its senior management, it referred and sold outstanding debts associated with some of those contracts to third party debt collection and factoring agencies. Some consumers whose identities were associated with the relevant customer accounts were subject to threats of legal proceedings being commenced against them and of reporting defaults to credit reporting bodies. Some customers continued to be pursued by third party collections agencies until as late as July 2024 and Optus had not taken steps to stop that occurring.

    Background

    Optus is Australia’s second largest telecommunications provider. It is a wholly-owned subsidiary of Singtel Optus Pty Ltd, a foreign owned private company.

    In Australia, Optus’s retail stores are either:

    • owned and operated directly by Optus RetailCo Pty Ltd; or
    • owned and operated through third party licensees, through Retail License Agreements. For example, prior to Optus buying back certain stores, all Optus stores in the Adelaide region were owned and operated by Mavaya Pty Ltd, and all Optus stores in the Northern Territory, as well as several in regional Queensland, were owned and operated by Suntel Communications Pty Ltd.

    The ACCC commenced court action against Optus on 31 October 2024. The investigation was prompted by a referral from the Telecommunications Industry Ombudsman.

    MIL OSI News –

  • MIL-OSI China: Xi urges China, Central Asian countries to promote high-quality Belt and Road cooperation

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

    Xi urges China, Central Asian countries to promote high-quality Belt and Road cooperation

    Chinese President Xi Jinping delivers a keynote speech during the second China-Central Asia Summit in Astana, Kazakhstan, June 17, 2025. The second China-Central Asia Summit was held in Astana on Tuesday. Kazakh President Kassym-Jomart Tokayev chaired the summit. Xi, Kyrgyz President Sadyr Japarov, Tajik President Emomali Rahmon, Turkmen President Serdar Berdimuhamedov and Uzbek President Shavkat Mirziyoyev attended the summit. [Photo/Xinhua]

    ASTANA, June 17 — Chinese President Xi Jinping on Tuesday called on China and Central Asian countries to promote high-quality Belt and Road cooperation and forge ahead toward the goal of building a China-Central Asia community with a shared future under the guidance of the China-Central Asia Spirit.

    Xi made the remarks in his keynote speech at the second China-Central Asia Summit hosted by Kazakh President Kassym-Jomart Tokayev. Kyrgyz President Sadyr Japarov, Tajik President Emomali Rahmon, Turkmen President Serdar Berdimuhamedov and Uzbek President Shavkat Mirziyoyev also attended the summit.

    Xi pointed out that during their meeting in Xi’an two years ago, they jointly outlined the Xi’an Vision for China-Central Asia cooperation. Two years on, China and Central Asian countries have further deepened and substantiated Belt and Road cooperation, he said, recalling advanced cooperation in various fields.

    The core framework of the China-Central Asia mechanism is largely in place, and the consensus at the first Summit has been implemented across the board, Xi said, adding that the path of cooperation among the countries is steadily widening, and their friendship is blooming ever more brightly.

    Xi stressed that the cooperation between China and Central Asian countries is rooted in more than 2,000 years of friendly exchanges, cemented by solidarity and mutual trust cultivated through more than three decades of diplomatic ties, and taken forward via openness and win-win cooperation of the new era.

    Xi said building on their collective efforts over the years, the six countries have forged a China-Central Asia Spirit of “mutual respect, mutual trust, mutual benefit and mutual assistance for the joint pursuit of modernization through high-quality development.”

    The spirit connotes four aspects of practices. First, Xi said that China and Central Asian countries practice mutual respect and treat each other as equals, and all countries, big or small, are equal, adding that the six countries handle issues through consultation and make decisions by consensus.

    Second, he said that China and Central Asian countries seek to deepen mutual trust and enhance mutual support, firmly support each other in safeguarding independence, sovereignty, territorial integrity and national dignity, and do not do anything harmful to the core interests of any party.

    Third, Xi said China and Central Asian countries pursue mutual benefit and win-win cooperation and strive for common development, view each other as priority partners, and share development opportunities together, adding that they accommodate each other’s interests, and work to build a win-win and symbiotic relationship.

    Fourth, he said China and Central Asian countries help each other in time of need and stand together through thick and thin, supporting each other in choosing development paths suitable to respective national conditions and in taking domestic matters into their own hands, adding that the countries work together to address various risks and challenges, and uphold regional security and stability.

    This China-Central Asia Spirit is an important guideline for their endeavor to carry forward friendship and cooperation from generation to generation, and the six countries should always uphold it and let it shine forever, Xi noted.

    Today, unprecedented changes are unfolding at a faster pace across the globe, thrusting the world into a new state of heightened turbulence and volatility, Xi pointed out, noting that a strong belief in fairness and justice, and an unyielding commitment to mutual benefit and win-win cooperation are the only way to maintain world peace and achieve common development.

    There is no winner in tariff wars or trade wars, and unilateralism, protectionism and hegemonism will surely backfire while hurting others, he noted.

    Maintaining that history should move forward, not backward, and the world should be united, not divided, Xi said humanity must not regress to the law of the jungle, but should instead build a community with a shared future for mankind.

    Xi called on the six countries to act on the China-Central Asia Spirit, and enhance cooperation with renewed vigor and more practical measures.

    To achieve this, he made five points.

    First, China and Central Asian countries should stay committed to the fundamental goal of unity, and always trust and support each other, he said.

    China consistently takes Central Asia as a priority in its neighborhood diplomacy, Xi noted, adding that with a firm belief in an amicable, secure and prosperous neighborhood as well as a strong dedication to amity, sincerity, mutual benefit and inclusiveness, China interacts with Central Asian countries on the basis of equality and sincerity, and the six countries always wish their neighbors well.

    The six countries will sign together a treaty on eternal good-neighborliness, friendship and cooperation to enshrine the principle of everlasting friendship in the form of law, he said, deeming it as a new landmark in the history of the relations of the six countries and a pioneering initiative in China’s diplomatic engagement with its neighbors, which constitutes a milestone for today and a foundation for tomorrow.

    Second, China and Central Asian countries should optimize the cooperation framework to make it more results-oriented, more efficient and more deeply integrated, Xi said.

    Recalling that the six countries have agreed to designate 2025 and 2026 as the Years of High-Quality Development of China-Central Asia Cooperation, he said that all sides should focus the cooperation on smooth trade, industrial investment, connectivity, green mining, agricultural modernization and personnel exchanges, roll out more projects on the ground and foster new quality productive forces.

    He said China has decided to establish three cooperation centers, i.e. on poverty reduction, on education exchange, and on desertification prevention and control, as well as a cooperation platform on smooth trade under the China-Central Asia cooperation framework.

    China supports Central Asian countries in developing livelihood and development projects, Xi said, adding that China will provide 3,000 training opportunities to Central Asian countries in the next two years.

    Third, China and Central Asian countries should develop a security framework for peace, tranquility and solidarity, step up regional security governance, deepen law enforcement and security cooperation, jointly prevent and thwart extreme ideologies, and resolutely fight terrorism, separatism and extremism, so as to maintain peace and stability in the region, Xi said.

    China will do its best to help Central Asian countries combat terrorism and transnational organized crime and safeguard cybersecurity and biosecurity, he said.

    Fourth, China and Central Asian countries should cement the bonds of shared vision, mutual understanding and mutual affection between peoples, he noted, saying that China will enhance cooperation between legislatures, political parties, women, youth, media and think tanks with Central Asian countries, conduct in-depth exchange of governance experience, and is ready to set up more cultural centers, university branches and Luban Workshops in Central Asia to train more high-caliber talent for Central Asian countries.

    China supports deepening subnational cooperation with Central Asia, Xi said, adding that China and Central Asian countries should nurture heart-to-heart connections at central and subnational levels, between official and non-governmental actors, and from adjacent to broader areas.

    Fifth, China and Central Asian countries should uphold a fair and equitable international order and an equal and orderly world structure, stand ready to work with all parties to defend international fairness and justice, oppose hegemonism and power politics, and promote an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization, Xi said.

    This year marks the 80th anniversary of the victory of the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War, and the 80th anniversary of the founding of the United Nations, he said, recalling that in the strenuous times of war, Chinese and Central Asian peoples supported each other through adversity, and jointly made important contributions to the cause of justice of humanity.

    He also noted the need to promote the correct view of history, defend the fruits of the victory of World War II, uphold the UN-centered international system, and provide more stability and certainty for world peace and development.

    Xi pointed out that China is building a great modern socialist country in all respects and advancing the great rejuvenation of the Chinese nation on all fronts through Chinese modernization.

    No matter how the international situation changes, China will remain unwavering in opening up to the outside world, he said, noting that China is ready to embrace higher-quality cooperation and deepen the integration of interests with Central Asian countries, so as to achieve common development and strive for new progress in China-Central Asia cooperation.

    Tokayev and the other four Central Asian leaders unanimously stated that the China-Central Asia mechanism has become an important platform for promoting dialogue and cooperation, as well as for advancing the economic and social development of Central Asian countries.

    In a world full of uncertainties, the strategic significance of the mechanism has become increasingly prominent, and China’s growing prosperity and strength are benefiting its neighboring countries, they said, noting that China is a strategic partner and a true friend that Central Asian countries can always count on.

    The Central Asian countries highly value the model of cooperation with China based on mutual respect, equality and mutual benefit, and look forward to deepening all-round cooperation with China and expanding trade and investment, the five leaders added.

    They also expressed the hope to jointly pursue high-quality Belt and Road cooperation, promote cooperation in such fields as industry, agriculture, science and technology, infrastructure, new energy and connectivity, strengthen regional security collaboration, and enhance people-to-people and cultural exchanges in fields like culture, education and tourism.

    The leaders of the five Central Asian countries expressed their intention to build the China-Central Asia mechanism into a model of regional cooperation, share development and prosperity, jointly promote peace and stability, and build a closer community with a shared future.

    The five parties highly appreciate China’s constructive role in international and regional affairs, and actively support the concept of building a community with a shared future for mankind, as well as the three major global initiatives proposed by President Xi.

    They also expressed the willingness to closely coordinate and cooperate with China to firmly safeguard free trade and the multilateral trading system, and jointly defend international equity and justice.

    During the summit, Xi and the heads of state of the Central Asian nations signed the Astana Declaration of the second China-Central Asia Summit, and a treaty on eternal good-neighborliness, friendship and cooperation.

    The meeting also announced the signing of 12 cooperation agreements regarding the Belt and Road cooperation, facilitation of personnel exchanges, green mining, trade, connectivity, industry and customs.

    At the summit, China signed multiple sister city agreements with the five Central Asian countries, thus the pairs of sister cities between the two sides have exceeded 100.

    Xi and other leaders also witnessed the inauguration of three China-Central Asia cooperation centers and a trade platform, namely the China-Central Asia poverty reduction cooperation center, the China-Central Asia education exchange cooperation center, the China-Central Asia desertification prevention and control cooperation center, as well as the China-Central Asia smooth trade cooperation platform.

    All parties also agreed that China will host the third China-Central Asia Summit in 2027.

    Chinese President Xi Jinping, Kazakh President Kassym-Jomart Tokayev, Kyrgyz President Sadyr Japarov, Tajik President Emomali Rahmon, Turkmen President Serdar Berdimuhamedov and Uzbek President Shavkat Mirziyoyev pose for a group photo in Astana, Kazakhstan, June 17, 2025. The second China-Central Asia Summit was held in Astana on Tuesday. Tokayev chaired the summit. Xi, Japarov, Rahmon, Berdimuhamedov and Mirziyoyev attended the summit. [Photo/Xinhua]
    Chinese President Xi Jinping walks into the venue of the second China-Central Asia Summit in Astana, Kazakhstan, June 17, 2025. The second China-Central Asia Summit was held in Astana on Tuesday. Kazakh President Kassym-Jomart Tokayev chaired the summit. Xi, Kyrgyz President Sadyr Japarov, Tajik President Emomali Rahmon, Turkmen President Serdar Berdimuhamedov and Uzbek President Shavkat Mirziyoyev attended the summit. [Photo/Xinhua]
    Chinese President Xi Jinping shakes hands with Kazakh President Kassym-Jomart Tokayev in Astana, Kazakhstan, June 17, 2025. The second China-Central Asia Summit was held in Astana on Tuesday. Tokayev chaired the summit. Xi, Kyrgyz President Sadyr Japarov, Tajik President Emomali Rahmon, Turkmen President Serdar Berdimuhamedov and Uzbek President Shavkat Mirziyoyev attended the summit. [Photo/Xinhua]
    Chinese President Xi Jinping delivers a keynote speech during the second China-Central Asia Summit in Astana, Kazakhstan, June 17, 2025. The second China-Central Asia Summit was held in Astana on Tuesday. Kazakh President Kassym-Jomart Tokayev chaired the summit. Xi, Kyrgyz President Sadyr Japarov, Tajik President Emomali Rahmon, Turkmen President Serdar Berdimuhamedov and Uzbek President Shavkat Mirziyoyev attended the summit. [Photo/Xinhua]
    Chinese President Xi Jinping, Kazakh President Kassym-Jomart Tokayev, Kyrgyz President Sadyr Japarov, Tajik President Emomali Rahmon, Turkmen President Serdar Berdimuhamedov and Uzbek President Shavkat Mirziyoyev witness inauguration of the China-Central Asia poverty reduction cooperation center, the China-Central Asia education exchange cooperation center, the China-Central Asia desertification control cooperation center and the China-Central Asia trade facilitation cooperation platform in Astana, Kazakhstan, June 17, 2025. The second China-Central Asia Summit was held in Astana on Tuesday. Tokayev chaired the summit. Xi, Japarov, Rahmon, Berdimuhamedov and Mirziyoyev attended the summit. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: 2025 Summer Davos to be held in late June

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

    BEIJING, June 17 — The 2025 Summer Davos forum will be held from June 24 to 26 in north China’s Tianjin Municipality, with all preparations for the meeting having been finalized, the organizers said on Tuesday.

    Also known as the 16th Annual Meeting of New Champions of the World Economic Forum, this year’s Summer Davos forum is themed “Entrepreneurship in the New Era” and is expected to bring together around 1,800 participants from over 90 countries and regions, the organizers told a press conference in Beijing.

    This year’s forum will focus on five key areas — deciphering the world economy, outlook on China, industries disrupted, investing in people and the planet, and new energy and materials.

    Through this year’s Summer Davos, China will reaffirm its commitment to pursuing high-level opening up and to sharing opportunities brought about by its development with the rest of the world, said Chen Shuai, an official with the National Development and Reform Commission.

    As one of the most dynamic regions in the world, Asia drives 60 percent of global economic growth, with China accounting for half of that contribution, according to Gim Huay Neo, managing director of the World Economic Forum.

    She noted that this year’s Summer Davos forum will provide opportunities for participants to deepen their understanding of development trends in China and Asia.

    MIL OSI China News –

  • MIL-OSI New Zealand: Charges filed by Maritime NZ against KiwiRail following investigation into 2024 grounding of Interislander ferry north of Picton.

    Source: Maritime New Zealand

    Maritime NZ has filed two charges against KiwiRail after completing a comprehensive and wide-ranging investigation into the grounding of the Interislander ferry, Aratere last year.

    The Aratere grounded just north of Picton on 21 June last year, it had 47 people on-board at the time. Thankfully, all passengers and crew were safely returned to shore.  The ferry was re-floated the following evening.

    Maritime NZ’s Chief Executive, Kirstie Hewlett, says the two charges filed against KiwiRail under the Health and Safety at Work Act 2015 relate to failures by the operator to keep crew and passengers safe while on-board the ferry.

    “This was a complex incident and important investigation given it focussed on KiwiRail bringing in new systems to older vessels and broader safety management. It required us to look at systems, policies and procedures, culture, within KiwiRail in relation to the incident. A significant number of interviews were conducted, as well as collating and reviewing a substantial amount of relevant documentation and evidence.

    “The time taken to undertake this investigation, collate and review the evidence, and decide on compliance action is consistent with other complex and major incidents.

    As we have now filed charges in court, we cannot talk about what our investigation found,” Kirstie Hewlett says. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Lanes blocked on the Waikato expressway

    Source: New Zealand Police

    At around 11:20am emergency services received reports of a single vehicle crash on the Waikato Expressway, south of Cambridge Road, Tamahere.

    One north bound and one south bound lane are blocked.

    No injuries have been reported at this stage.

    Motorists should expect delays and avoid the area if possible.

    Traffic management is on route and emergency services are working to clear the road.

    ENDS

    MIL OSI New Zealand News –

  • MIL-OSI: Diversified Royalty Corp. Announces Acquisition of US-Based Cheba Hut Franchising, Inc.’s Trademarks, a 10% Dividend Increase, and an Increase in Size of its Acquisition Facility

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, June 17, 2025 (GLOBE NEWSWIRE) — Diversified Royalty Corp. (TSX: DIV and DIV.DB.A) (the “Corporation” or “DIV”) is pleased to announce that it has acquired the trademarks and certain other intellectual property used by Cheba Hut Franchising, Inc. (“Cheba Hut”) of Fort Collins, Colorado, adding a ninth royalty stream (and the second based in the United States) to DIV’s portfolio. All dollar amounts in this news release, unless specifically denominated in U.S. dollars, are represented in Canadian dollars.

    Highlights

    • Acquisition of Cheba Hut’s worldwide trademark portfolio and certain other intellectual property rights for US$36 million and certain additional consideration
    • Initial annual royalty revenue from Cheba Hut of US$4 million, representing approximately 7% of DIV’s pro-forma adjusted revenue1
    • The royalty grows at a fixed rate equal to the greater of 3.5% and the U.S. Consumer Price Index (“U.S. CPI”) + 1.5% per year
    • Annual dividend on DIV’s common shares to be increased 10% from 25 cents per share to 27.5 cents per share, effective July 1, 2025
    • DIV’s strong balance sheet enabled it to fund the Transaction without the need to raise equity

    1. Pro-forma adjusted revenue is a non-IFRS financial measure and as such, does not have a standardized meaning under IFRS. For additional information, refer to “Non-IFRS Measures” in this news release.

    Acquisition Overview

    DIV and its wholly-owned subsidiary Cheeb Royalties Limited Partnership (“Cheeb LP”) entered into an acquisition agreement dated June 17, 2025 (the “Acquisition Agreement”) with Cheba Hut and an affiliate of Cheba Hut pursuant to which Cheeb LP acquired (the “Acquisition”) Cheba Hut’s worldwide trademarks portfolio and certain other intellectual property rights utilized by Cheba Hut in its fast casual, toasted sub sandwich restaurants (the “Cheba Rights”) for a purchase price (the “Purchase Price”), of US$36 million cash. The Purchase Price was funded with (i) approximately US$18 million drawn from DIV’s amended acquisition facility (further details below) (the “Acquisition Facility”), (ii) approximately US$8 million from DIV’s cash on hand, (iii) US$5 million drawn from a new senior credit facility issued to Cheeb LP (the “Cheeb Credit Facility”), and (iv) US$5 million drawn from a new senior term credit facility issued to DIV (the “Additional Term Facility”).

    Immediately following the closing of the Acquisition, DIV licensed the Cheba Rights in the United States back to Cheba Hut for 50 years, in exchange for an initial royalty payment of US$4 million per annum (the “Royalty” and together with the Acquisition, the “Transaction”). The Royalty will be automatically increased at a rate equal to the greater of 3.5% and the U.S. CPI + 1.5% per year without any further consideration payable by DIV or Cheeb LP. Cheba Hut may also increase the annual royalty payable on April 1st of each year following the closing (each an “Adjustment Date”) subject to Cheba Hut satisfying certain royalty coverage tests. The amount of each royalty increase cannot be less than US$500,000 per annum and must, in respect of amounts over that threshold, be in increments of US$100,000 per annum. In consideration for a royalty increase on an Adjustment Date, Cheeb LP will pay an amount to Cheba Hut in cash, based on a multiple between 7 and 8 times (depending on certain conditions being met) the incremental annual royalty purchased, as additional consideration for the Cheba Rights.

    Payment of the Royalty will be secured by a general security agreement granted by Cheba Hut to Cheeb LP, and by secured corporate guarantees to be granted to Cheeb LP by several affiliates of Cheba Hut.

    The Acquisition is expected to increase DIV’s tax pools by approximately $51 million to a total of approximately $424 million, which can be depreciated over time to reduce DIV’s cash taxes. Amounts paid for incremental annual royalties will also increase DIV’s tax pools.

    Founded in 1998, Cheba Hut has 77 fast casual, toasted sub sandwich restaurants in the US. All of Cheba Hut’s locations are franchised, except for two corporate stores and substantially all future growth is currently expected to result from opening additional franchised locations. Cheba Hut had US$149 million of system sales2 and SSSG2 of 5% in 2024. Cheba Hut is forecasting over US$187 million in system sales2 in the fiscal year ended December 31, 2025.

    2. System sales and same store sales growth (SSSG) are supplementary financial measures and as such, do not have standardized meanings under IFRS. For additional information, refer to “Non-IFRS Measures” in this news release.

    Sean Morrison, Chief Executive Officer of DIV, stated, “The Cheba Hut trademark acquisition and royalty agreement adds a ninth royalty stream to DIV’s portfolio, representing approximately 7% of DIV’s pro-forma adjusted revenue3 and is another step in our strategy of purchasing royalties from a diverse group of proven multi-location businesses and franchisors. We believe Cheba Hut’s impressive track record of growth is a result of its strong store-level economics, quality of its franchisees and experience of its management team. Scott Jennings, the founder of Cheba Hut, and his management team represent a great partner for DIV, as they strongly believe in the continued success of Cheba Hut over the long term and therefore partnering with DIV was far superior to selling equity ownership. We look forward to working with Scott and Cheba Hut’s management team to continue expanding the business across the U.S.

    DIV has worked to promote its royalty model in the U.S. market and now, with its second US-based royalty transaction, is building significant momentum in that market. Such continued momentum in the U.S. franchisor market will become significant to DIV as it scales its business going forward.

    Further, DIV’s strong balance sheet (cash on hand, under-levered existing royalty LP’s, an unused acquisition facility) enabled it to fund the Transaction without the need to raise equity. DIV’s less than 100% payout ratio4, automated DRIP program and ability to refinance existing LP’s will enable it to substantially pay down the acquisition facility within 12 months. This is a game-changer for DIV as all prior trademarks acquisitions have been funded concurrently, or shortly thereafter, with a sizeable equity raise.”

    Scott Jennings, stated, “DIV understands and believes that leaving us in control of our company keeps us in the best position to sustain our controlled growth. In addition, we can continue to take care of our product, partners, crew, and most importantly our CUSTOMERS the way we have for the last 27 years. We thank DIV for believing in Cheba Hut and helping us stay in excellent position to keep our soul intact for the next 50 years and beyond!!!”

    3. Pro-forma adjusted revenue is a non-IFRS financial measure, and as such, does not have a standardized meaning under IFRS. For additional information, refer to “Non-IFRS Measures” in this news release.

    Amendment to Acquisition Facility

    DIV amended its Acquisition Facility to increase the size from $50 million to $70 million and extend the maturity date to May 30, 2027, and thereafter to June 17, 2028 (if certain conditions are met).

    DIV and Cheeb LP Credit Facilities

    Cheeb LP financed US$5 million of the Purchase Price with new bank debt having a term of three years from closing. The Cheeb Credit Facility is non-amortizing and has a floating interest rate equal to SOFR + 2.5% per annum; however, DIV will have 90 days following closing to effectively fix the interest rate on 75% of the amount borrowed under this facility through an interest rate swap. The Cheeb Credit Facility is secured by the Cheba Rights and the Royalty payable by Cheba Hut, and has covenants customary for this type of a credit facility.

    DIV financed approximately US$18 million of the Purchase Price from the Acquisition Facility as amended and described above. The approximately US$18 million drawn on the Acquisition Facility is interest-only for twelve months and thereafter amortizes over a 60-month period. In connection with the Transaction, DIV financed US$5 million of the Purchase Price from an Additional Term Facility of US$5 million with a term of approximately 18 months. The Additional Term Facility is non-amortizing and has a floating interest rate based on SOFR plus a spread based on prevailing market rates. The Additional Term Facility is secured by a general security interest over the assets of the Corporation and, if requested by the lender, may be secured by specific assignments of certain material agreements entered into by the Corporation from time to time, and has covenants customary for this type of credit facility. DIV intends to pay down the Acquisition Facility through a combination of cash flows, debt refinancings and/or capital markets transactions.

    Dividend Policy Increase

    DIV’s board of directors has approved an increase in DIV’s dividend policy to increase its annualized dividend from 25.0 cents per share to 27.5 cents per share effective July 1, 2025, an increase of 10%. DIV estimates its pro-forma payout ratio4 will be approximately 94.9% (pro-forma payout ratio, net of DRIP is approximately 83.0%)4.

    4. Pro-forma payout ratio and pro-forma payout ratio, net of DRIP are non-IFRS ratios, and as such, do not have standardized meanings under IFRS. For additional information, refer to “Non-IFRS Measures” in this news release.

    Investor Conference Call

    Management of DIV will host a conference call on Wednesday, June 18, 2025, at 7:00 am Pacific Time (10:00 am Eastern Time). To participate by telephone across Canada, call toll free at 1 (800)  717-1738 or 1 (289) 514-5100 (conference ID 02753). The presentation will be followed by a question-and-answer session. An archived telephone recording of the call will be available until Wednesday, September 17, 2025, by calling 1 (888) 660-6264 or 1 (289) 819-1325 (playback passcode: 02753 #). The management presentation for the conference call will be available on DIV’s website https://www.diversifiedroyaltycorp.com/investors/investor-presentation/ prior to the call. Alternatively, the link to the webcast of the conference can be found below:

    https://onlinexperiences.com/Launch/QReg/ShowUUID=AE82A2E9-8F95-4F22-BF7D-3DF54A94A39D

    About Diversified Royalty Corp.

    DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors.

    DIV currently owns the Mr. Lube + Tires, AIR MILES®, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, BarBurrito and Cheba Hut trademarks. Mr. Lube + Tires is the leading quick lube service business in Canada, with locations across Canada. AIR MILES® is Canada’s largest coalition loyalty program. Sutton is among the leading residential real estate brokerage franchisor businesses in Canada. Mr. Mikes operates casual steakhouse restaurants primarily in western Canadian communities. Nurse Next Door is a home care provider with locations across Canada and the United States as well as in Australia. Oxford Learning Centres is one of Canada’s leading franchisee supplemental education services. Stratus Building Solutions is a leading commercial cleaning service franchise company providing comprehensive janitorial, building cleaning, and office cleaning services primarily in the United States. BarBurrito is the largest quick service Mexican restaurant food chain in Canada. Cheba Hut is a fast casual toasted sub sandwich franchise with locations across 19 U.S. states.

    DIV’s objective is to increase cash flow per share by making accretive royalty purchases and through the growth of purchased royalties. DIV intends to continue to pay a predictable and stable monthly dividend to shareholders and increase the dividend over time, in each case as cash flow per share allows.

    Forward Looking Statements

    Certain statements contained in this news release may constitute “forward-looking information” or “financial outlook” within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or financial outlook. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “intend”, “may”, “will”, ”project”, “should”, “believe”, “confident”, “plan” and “intends” and similar expressions are intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specifically, forward-looking information or financial outlook in this news release includes, but are not limited to, statements made in relation to: the increase in DIV’s annual dividend; statements related to the expected tax implications of the Acquisition on DIV; substantially all future growth for Cheba Hut is currently expected to result from opening additional franchised locations; Cheba Hut’s forecasted system sales in the fiscal year ended December 31, 2025; the expected financial impact of the Transaction on DIV, including on its pro-forma payout ratio, pro-forma payout ratio, net of DRIP and pro-forma adjusted revenue; DIV intends to pay down the Acquisition Facility through a combination of cash flows, debt refinancings and/or capital markets transactions; the continued expansion in the U.S. franchisor market and the expected effect on DIV and its business; DIV’s intention to continue to pay a predictable and stable monthly dividend to shareholders and increase the dividend over time; and DIV’s corporate objectives. The forward-looking information and financial outlook contained herein involve known and unknown risks, uncertainties and other factors that may cause actual results or events, performance, or achievements of DIV to differ materially from those anticipated or implied therein. DIV believes that the expectations reflected in the forward-looking information and financial-outlook are reasonable but no assurance can be given that these expectations will prove to be correct. In particular there can be no assurance that: DIV will realize the expected benefits of the Transaction, or that it will be accretive; the actual tax implications of the Acquisition and the Transaction on DIV will be consistent with the tax implications expected by DIV; Cheba Hut will pay the Royalty and otherwise comply with its obligations under the agreements governing the Transaction; Cheba Hut will not be adversely affected by the other risks facing its business; DIV may not complete any further royalty acquisitions; DIV may not increase its dividend in accordance with the currently expected timing or amounts; DIV will be able to make monthly dividend payments to the holders of the DIV common shares; or DIV will achieve any of its corporate objectives. Given these uncertainties, readers are cautioned that forward-looking information and financial outlook included in this news release are not guarantees of future performance, and such forward-looking information and financial outlook should not be unduly relied upon. More information about the risks and uncertainties affecting DIV’s business and the businesses of its royalty partners can be found in the “Risk Factors” section of its Annual Information Form dated March 24, 2025 and the “Risk Factors” section of its management’s discussion and analysis for the three months ended March 31, 2025 that are available under DIV’s profile on SEDAR+ at www.sedarplus.ca.

    In formulating the forward-looking statements contained herein, management has assumed that, among other things, Cheba Hut will be successful in meeting its stated corporate objectives, including its growth targets; DIV will realize the expected benefits of the Transaction; the Cheba Hut business will not suffer any material adverse effect; the actual tax implications of the Acquisition, the Transaction and the payment of the Royalty will be consistent with the tax implications expected by DIV; and the business and economic conditions affecting DIV and Cheba Hut will continue substantially in the ordinary course, including without limitation with respect to general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.

    To the extent any forward-looking information in this news release constitute a “financial outlook” within the meaning of applicable securities laws, such information is being provided to assist investors in understanding the potential financial impact of the Transaction, the Cheeb Credit Facility, the Additional Term Facility and the dividend increase and may not appropriate for other purposes.

    All of the forward-looking information and financial outlook disclosed in this news release is qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments contemplated thereby will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, DIV contemplated by such forward-looking information and financial outlook contained herein. The forward-looking information and financial outlook included in this news release is made as of the date of this news release and DIV assumes no obligation to publicly update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

    Non-IFRS Measures

    Management believes that disclosing certain non-IFRS financial measures, non-IFRS ratios and supplementary financial measures provides readers with important information regarding the Corporation’s financial performance and its ability to pay dividends, the performance of its royalty partners and the financial impacts to DIV of the Transaction. By considering these measures in combination with the most closely comparable IFRS measure, management believes that investors are provided with additional and more useful information about the Corporation, its royalty partners and the Transaction than investors would have if they simply considered IFRS measures alone. The non-IFRS financial measures, non-IFRS ratios and supplementary financial measures used in this news release do not have standardized meanings prescribed by IFRS and therefore are unlikely to be comparable to similar measures presented by other issuers. Investors are cautioned that non-IFRS financial measures should not be construed as a substitute or an alternative to net income or cash flows from operating activities as determined in accordance with IFRS.

    The non-IFRS financial measure used in this news release is pro-forma adjusted revenue, which includes as components the following non-IFRS financial measures: DIV royalty entitlement, adjusted revenue and run-rate adjusted revenue. Run-rate adjusted revenue is calculated as the sum of DIV’s adjusted revenue for each of the three months ended December 31, 2024 and March 31, 2025, multiplied by two for purposes of annualizing such amount, plus the amount of Mr. Lube’s roll-in of royalties from 5 net new store locations on May 1, 2025. Pro-forma adjusted revenue is calculated as the run-rate adjusted revenue plus the amount of the initial adjusted revenue contribution payable by Cheba Hut. DIV management believes run-rate adjusted revenue provides useful information as it provides supplemental information regarding DIV’s consolidated revenues, and pro-forma adjusted revenue provides useful information as it provides supplemental information regarding DIV’s consolidated revenues after giving effect to the Transaction. For an explanation of the composition of DIV royalty entitlement and adjusted revenue, including a reconciliation to the most directly comparable IFRS measure, see the disclosure under the heading “Description of Non-IFRS Financial Measures, Non-IFRS Ratios and Supplementary Financial Measures” in DIV’s management discussion and analysis for the three months and year ended December 31, 2024 and three months ended March 31, 2025, copies of which are available under DIV’s profile on SEDAR+ at www.sedarplus.ca, which is incorporated by reference herein.

    The following table reconciles revenue for the three months ended December 31, 2024 and March 31, 2025 to pro-forma adjusted revenue and run-rate adjusted revenue:

    (Cdn$000’s)  (a)
    Q4 2024    		 (b)
    Q1 2025    		 =(a+b) x 2
    Annualized
    Revenues 17,032 15,639 65,342
    DIV royalty entitlement 1,320 1,329 5,298
    Adjusted revenue 18,352 16,968 70,640
           
    Adjustment:      
    Mr. Lube roll-in – May 1, 2025(1)     668
    Run-rate adjusted revenue      71,308
           
    Cheba Hut contribution(2)     5,600
    Pro-forma adjusted revenue     76,908
           

    1) Adjustment for Mr. Lube’s roll-in of royalties from 5 net new store locations on May 1, 2025, assuming incremental annual net system sales (system sales is a non-IFRS supplementary measure and as such, does not have a standardized meaning under IFRS – see the disclosure under the heading “Description of Non-IFRS Financial Measures, Non-IFRS Ratios and Supplementary Financial Measures” in DIV’s management discussion and analysis for the three months and year ended December 31, 2024 and three months ended March 31, 2025) of $8.4 million, multiplied by 7.95% royalty rate

    2) Cheba Hut contribution is calculated as the initial adjusted revenue contribution of USD$4,000,000 payable by Cheba Hut, multiplied by a USD to CAD exchange rate of $1.4:1

    The non-IFRS ratios used in this news release are pro-forma payout ratio and pro-forma payout ratio, net of DRIP, which include as components the following non-IFRS financial measures: EBITDA, normalized EBITDA, distributable cash, run-rate distributable cash, pro-forma distributable cash, pro-forma dividends declared and DIV royalty entitlement net of NND Royalties LP expenses. Run-rate distributable cash is calculated as the sum of DIV’s distributable cash for each of the three months ended December 31, 2024 and March 31, 2025, multiplied by two for purposes of annualizing such amount, plus the after-tax amount of Mr. Lube’s roll-in of royalties from 5 net new store locations on May 1, 2025, less adjustments for interest income and current tax. Pro-forma distributable cash is calculated as run-rate distributable cash plus the amount of the initial adjusted revenue contribution payable by Cheba Hut, less incremental operating expenses, interest expenses and taxes. DIV management believes run-rate distributable cash provides useful information as it provides supplemental information regarding DIV’s ability to generate cash available for payment of dividends after adjusting for non-recurring expenses and pro-forma distributable cash provides useful information as it provides supplemental information regarding DIV’s ability to generate cash available for payment of dividends after giving effect to the Transaction. Pro-forma dividends declared is calculated as DIV’s new annualized dividend of $0.275 per share multiplied by the number of DIV common shares issued and outstanding as of March 31, 2025. Pro-forma dividends declared is used to calculate the pro-forma payout ratio, and thus management believes that it provides useful information as to DIV’s expected future aggregate annualized dividend payments. Pro-forma payout ratio is calculated as pro-forma dividends declared divided by pro-forma distributable cash. Pro-forma payout ratio, net of DRIP is calculated as the difference of (X) pro-forma dividends declared less (Y) dividends paid by DIV in the form of DIV common shares issued under DIV’s dividend reinvestment plan (“DRIP”) at an estimated participation rate of 12.5%, divided by pro-forma distributable cash. For an explanation of the composition of EBITDA, normalized EBITDA, distributable cash and DIV royalty entitlement net of NND Royalties LP expenses, including a reconciliation to the most directly comparable IFRS measure, see the disclosure under the heading “Description of Non-IFRS Financial Measures, Non-IFRS Ratios and Supplementary Financial Measures” in DIV’s management discussion and analysis for the three months and year ended December 31, 2024 and three months ended March 31, 2025, copies of which are available under DIV’s profile on SEDAR+ at www.sedarplus.ca, which is incorporated by reference herein. DIV management believes that (i) pro-forma payout ratio provides useful information as it provides supplemental information regarding DIV’s ability to generate cash to pay dividends following the completion of the Transaction and the increase to the dividend, and (ii) pro-forma payout ratio, net of DRIP provides useful information as it provides supplemental information regarding DIV’s ability to generate cash to pay dividends following the completion of the Transaction and the increase to the dividend after adjusting for dividends paid by DIV in the form of DIV common shares issued under the DRIP.

    The following table reconciles net income for the three months ended December 31, 2024 and March 31, 2025, to run-rate distributable cash and pro-forma distributable cash and illustrates the calculation of pro-forma payout ratio and pro-forma payout ratio, net of DRIP:

    (Cdn$000’s) (a)
    Q4 2024    		 (b)
    Q1 2025    		 =(a+b) x 2
    Annualized
    Net income 4,015 7,993 24,016
           
    Interest expense on credit facilities 3,368 3,150 13,036
    Income tax expense 1,653 2,997 9,300
    Depreciation expense 25 24 98
    EBITDA 9,061 14,164 46,450
           
    Adjustments:      
    Share-based compensation 645 368 2,026
    Other finance costs, net (2,044) 995 (2,098)
    Fair value adjustment on financial instruments 15 (904) (1,778)
    Payment of lease obligations (28) (28) (112)
    DIV royalty entitlement net of NND Royalties LP expenses 1,314 1,325 5,278
    Impairment loss 8,204 – 16,408
    Normalized EBITDA 17,167 15,920 66,174
    Add: interest income 139 135 548
    Less: Distributions on exchangeable MRM units (34) (48) (164)
    Less: current tax expense (1,301) (1,719) (6,040)
    Less: interest expense on credit facilities (3,368) (3,150) (13,036)
    Distributable cash 12,603 11,138 47,482
           
    Adjustment:      
    Mr. Lube roll-in – May 1, 2025, net of taxes(1)     487
    Interest income adjustment     (493)
    Current tax adjustment     (2,000)
    Run-rate distributable cash     45,476
    Cheba Hut distributable cash contribution(2)     3,075
    Pro-forma distributable cash     48,551
           
    Pro-forma dividends declared(3)     46,081
    Pro-forma payout ratio     94.9%
           
    Pro-forma dividends declared, net of DRIP(4)     40,321
    Pro-forma payout ratio, net of DRIP     83.0%
           

    1) Adjustment for Mr. Lube’s roll-in of royalties from 5 net new store locations on May 1, 2025, assuming incremental annual net system sales (system sales is a non-IFRS supplementary measure and as such, does not have a standardized meaning under IFRS – see the disclosure under the heading “Description of Non-IFRS Financial Measures, Non-IFRS Ratios and Supplementary Financial Measures” in DIV’s management discussion and analysis for the three months and year ended December 31, 2024 and three months ended March 31, 2025) of $8.4 million, multiplied by 7.95% royalty rate, less marginal income taxes assumed at 27%

    2) Cheba Hut contribution is calculated as the initial adjusted revenue contribution of USD$4,000,000, multiplied by a USD to CAD exchange rate of $1.4:1, less incremental operating expenses of $50,000, interest expense of $1,890,000 and taxes of $586,000

    3) Calculated as the number of DIV common shares issued and outstanding as of March 31, 2025 (167,567,468) multiplied by the new annualized dividend of $0.275 per share

    4) Calculated as pro-forma dividends declared, multiplied by 1 minus the effective DRIP rate of 12.5%

    System Sales is a supplementary financial measure and is a reference to the top-line sales revenue reported to Cheba Hut by all Cheba Hut franchisees. System sales is a supplementary financial measure and does not have a standardized meaning prescribed by IFRS. The Corporation believes system sales is a useful measure as it provides investors with an indication of performance of the franchisees underlying Cheba Hut’s business.

    Same store sales growth or SSSG is a supplementary financial measure and is a reference to the percentage increase in system sales over the prior comparable period for Cheba Hut locations that were in operation in both the current and prior periods, excluding stores that were permanently closed. The Corporation believes that SSSG is a useful measure as it provides investors with an indication of the change in year-over-year sales of Cheba Hut locations.

    Third Party Information

    This news release includes information obtained from third party reports and other publicly available sources as well as financial statements and other reports provided to DIV by its royalty partners and Cheba Hut. Although DIV believes these sources to be generally reliable, such information cannot be verified with complete certainty. Accordingly, the accuracy and completeness of this information is not guaranteed. DIV has not independently verified any of the information from third party sources referred to in this news release nor ascertained the underlying assumptions relied upon by such sources.

    THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.

    Additional Information

    Additional information relating to the Corporation and other public filings, is available on SEDAR+ at www.sedarplus.ca.

    Contact:
    Sean Morrison, President and Chief Executive Officer
    Diversified Royalty Corp.
    (236) 521-8470

    Greg Gutmanis, Chief Financial Officer and VP Acquisitions
    Diversified Royalty Corp.
    (236) 521-8471

    The MIL Network –