NewzIntel.com

Category: Asia Pacific

  • Israel studies Hamas reply to Gaza ceasefire plan as fighting continues

    Source: Government of India

    Source: Government of India (4)

    Israel is reviewing a revised response from Hamas to a proposed ceasefire and hostage release deal, Prime Minister Benjamin Netanyahu’s office said on Thursday, as Israeli air and ground strikes continued to pound the Gaza Strip.

    Hamas confirmed it had handed over a new proposal, but did not disclose its contents. A previous version, submitted late on Tuesday, was rejected by mediators as insufficient and was not even passed to Israel, sources familiar with the situation said.

    Both sides are facing huge pressure at home and abroad to reach a deal, with the humanitarian conditions inside Gaza deteriorating sharply amidst widespread, acute hunger in the Palestinian enclave that has shocked the world.

    A senior Israeli official was quoted by local media as saying the new text was something Israel could work with. However, Israel’s Channel 12 said a rapid deal was not within reach, with gaps remaining between the two sides, including over where the Israeli military should withdraw to during any truce.

    A Palestinian official close to the talks told Reuters the latest Hamas position was “flexible, positive and took into consideration the growing suffering in Gaza and the need to stop the starvation”.

    Dozens of people have starved to death in Gaza the last few weeks as a wave of hunger crashes on the Palestinian enclave, according to local health authorities. The World Health Organization said on Wednesday 21 children under the age of five were among those who died of malnutrition so far this year.

    Israel, which cut off all supplies to Gaza from the start of March and reopened it with new restrictions in May, says it is committed to allowing in aid but must control it to prevent it from being diverted by militants.

    It says it has let in enough food for Gaza’s 2.2 million people over the course of the war, and blames the United Nations for being slow to deliver it; the U.N. says it is operating as effectively as possible under conditions imposed by Israel.

    AIRSTRIKES

    The war between Israel and Hamas has been raging for nearly two years since Hamas killed some 1,200 people and took 251 hostages from southern Israel in the deadliest single attack in Israel’s history.

    Israel has since killed nearly 60,000 Palestinians in Gaza, decimated Hamas as a military force, reduced most of the territory to ruins and forced nearly the entire population to flee their homes multiple times.

    Israeli forces on Thursday hit the central Gaza towns of Nuseirat, Deir Al-Balah and Bureij.

    Health officials at Al-Awda Hospital said three people were killed in an airstrike on a house in Nuseirat, three more died from tank shelling in Deir Al-Balah, and separate airstrikes in Bureij killed a man and a woman and wounded several others.

    Nasser hospital said three people were killed by Israeli gunfire while seeking aid in southern Gaza near the so-called Morag axis between Khan Younis and Rafah. The Israeli military said Palestinian militants had fired a projectile overnight from Khan Younis toward an aid distribution site near Morag. It was not immediately clear whether the incidents were linked.

    Washington has been pushing the warring sides towards a deal for a 60-day ceasefire that would free some of the remaining 50 hostages held in Gaza in return for prisoners jailed in Israel, and allow in aid.

    U.S. Middle East peace envoy Steve Witkoff travelled to Europe this week for meetings on the Gaza war and a range of other issues.

    An Israeli official said Strategic Affairs Minister Ron Dermer would meet Witkoff on Friday if the gaps between Israel and Hamas over the terms of a ceasefire had narrowed sufficiently.

    Hamas is facing growing domestic pressure amid deepening humanitarian hardship in Gaza and continued Israeli advances.

    Mediators say the group is seeking a withdrawal of Israeli troops to positions held before March 2, when Israel ended a previous ceasefire, and the delivery of aid under U.N. supervision.

    That would exclude a newly formed U.S.-based group, the Gaza Humanitarian Fund, which began handing out food in May at sites located near Israeli troops who have shot dead hundreds of Palestinians trying to get aid.

    (Reuters)

  • MIL-OSI United Nations: 24 July 2025 News release Timor-Leste certified malaria-free by WHO

    Source: World Health Organisation

    The World Health Organization (WHO) has certified Timor-Leste as malaria-free, a remarkable achievement for a country that prioritized the disease and embarked on a concerted, nation-wide response shortly after gaining independence in 2002.

    “WHO congratulates the people and government of Timor-Leste on this significant milestone,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “Timor-Leste’s success proves that malaria can be stopped in its tracks when strong political will, smart interventions, sustained domestic and external investment and dedicated health workers unite.”

    With today’s announcement, a total of 47 countries and 1 territory have been certified as malaria-free by WHO. Timor-Leste is the third country to be certified in the WHO South-East Asia region, joining Maldives and Sri Lanka which were certified in 2015 and 2016 respectively.

    Certification of malaria elimination is granted by WHO when a country has proven, beyond reasonable doubt, that the chain of indigenous transmission has been interrupted nationwide for at least the previous three consecutive years.

    “We did it. Malaria has been one of our most relentless enemies – silent, persistent, and deadly. We lost too many lives to a disease that should be preventable. But our health workers never gave up, our communities held strong, and our partners, like WHO, walked beside us. From 223 000 cases to zero – this elimination honours every life lost and every life now saved. We must safeguard this victory with continued vigilance and community action to prevent malaria’s re-entry,” said Dr Élia António de Araújo dos Reis Amaral, SH, Minister of Health, Government of Timor-Leste.

    A rapid shift from high burden country to malaria-free

    Since gaining independence in 2002, Timor-Leste has made remarkable strides in the fight against malaria – reducing cases from a peak of more than 223 000 clinically diagnosed cases in 2006 to zero indigenous cases from 2021 onwards.

    Timor-Leste’s success in eliminating malaria was driven by the Ministry of Health’s swift action in 2003 to establish the National Malaria Programme, a dedicated programme for planning, implementing, and monitoring malaria control efforts nationwide. With only two full-time officers initially, the programme was able to lay the foundation for progress early on through strong technical leadership, managerial capacity and attention to detail.

    Within a few years, the country introduced rapid diagnostic tests and artemisinin-based combination therapy as part of the National Malaria Treatment Guidelines and began distributing free long-lasting insecticide treated nets to communities most at risk.

    In 2009, with support from the Global Fund to Fight AIDS, Tuberculosis and Malaria, Timor-Leste scaled up nationwide vector control efforts through the distribution of long-lasting insecticide-treated nets and indoor residual spraying. Malaria diagnosis was also expanded using microscopy and rapid diagnostic tests at the point of care across all local health posts.

    Facing the challenges of severe shortages of health workers and doctors, Timor-Leste made investments and developed its three-tier health system – comprising national hospitals, reference hospitals, community health centers (CHCs), and health posts – to ensure most residents can access care within an hour’s walk. Additionally, citizens are provided with free health services at the point of care, as part of the government’s policy on free universal health care. Monthly mobile clinics and community outreach programmes further enhance health services in rural areas.

    Timor-Leste’s success in combating malaria highlights the importance of country leadership and strong collaboration between the Ministry of Health, WHO, local communities, non-governmental organizations, donors, and multiple government sectors. A real-time integrated case-based surveillance system ensures rapid data collection and response, while trained health workers ensure timely detection and screening of malaria cases, including at borders. These integrated efforts have paved the way for the country to be officially certified malaria-free.

    “Timor-Leste’s malaria-free certification is a defining national triumph – driven by bold leadership, tireless efforts of health workers, and the resolve of its people. As a young nation, Timor-Leste stayed focused – testing, treating, and investigating swiftly. Ending transmission and maintaining zero deaths takes more than science; it takes grit. This victory protects generations, present and future, and shows what a determined country can achieve,” said Dr Arvind Mathur, WHO Representative to Timor-Leste.
     

    Note to the editor

    WHO malaria-free certification
    The final decision on awarding a malaria-free certification is made by the WHO Director-General, based on a recommendation by the Technical Advisory Group on Malaria Elimination and Certification and validation from the Malaria Policy Advisory Group. More on WHO’s malaria-free certification process.

    MIL OSI United Nations News –

  • MIL-OSI Russia: Lightning: 11 civilians, one soldier killed in Cambodia clashes – Thai health minister

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Xinhua | 24.07.2025

    Keywords: Thailand-Cambodia

    Source: Xinhua

    Lightning: 11 civilians, one soldier killed in clashes with Cambodia – Thai health minister Lightning: 11 civilians, one soldier killed in clashes with Cambodia – Thai health minister

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Inland Revenue Department alerts public to fraudulent emails

    Source: Hong Kong Government special administrative region

    Inland Revenue Department alerts public to fraudulent emails 
         The IRD has no connection with the emails and has reported the case to the Police for further investigation.

         The IRD reminded members of the public not to open suspicious emails or visit hyperlinks provided in such emails.
    Issued at HKT 17:10

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: OMS Energy Technologies Inc. Announces Fiscal Year 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, July 24, 2025 (GLOBE NEWSWIRE) — OMS Energy Technologies Inc. (“OMS” or the “Company”) (NASDAQ: OMSE), a growth-oriented manufacturer of surface wellhead systems (“SWS”) and oil country tubular goods (“OCTG”) for the oil and gas industry, today announced its financial results for the fiscal year ended March 31, 2025.

    Fiscal Year 2025 Financial Highlights

    • Total revenues in 2025 were $203.6 million, compared with $18.2 million for the period from April 1, 2023, through June 15, 2023, and $163.3 million for the period from June 16, 2023, through March 31, 2024.
    • Gross margin in 2025 was 33.9%, compared with 27.6% for the period from April 1, 2023, through June 15, 2023, and 29.9% for the period from June 16, 2023, through March 31, 2024.
    • Operating profit in 2025 was $59.9 million, compared with $3.2 million for the period from April 1, 2023, through June 15, 2023, and $40.2 million for the period from June 16, 2023, through March 31, 2024.

    Mr. How Meng Hock, Chairman and Chief Executive Officer of OMS, commented, “We are extremely proud to report strong results for fiscal year 2025 in our first earnings announcement as a publicly listed company. Our double-digit revenue growth, expanded gross margin, and increase in operating profit are a direct result of our team’s disciplined execution and commitment to delivering value across all areas of our business. We have also recorded several new customer wins and contract renewals since our IPO in May, further broadening and diversifying our revenue base. With our focus on long-term growth, we’re entering fiscal 2026 with strong momentum and a clear strategy for continued innovation and expansion.”

    Mr. Kevin Yeo, Chief Financial Officer, added, “Our fiscal 2025 financial performance reflects both top-line strength and meaningful margin improvement. Total revenues grew to $203.6 million, with gross margin reaching 33.9%. Operating profit increased to $59.9 million, highlighting our enhanced cost discipline and the benefits of growing economies of scale. Our net profit for the year was $47.0 million. When excluding a one-time $49.4 million bargain purchase gain recognized in fiscal 2024 related to the Management Buyout, our underlying profitability in 2025 demonstrates strong growth momentum. Supported by these solid fundamentals, a healthy balance sheet and loyal customer base, we remain confident of driving sustainable growth and building long-term shareholder value.”

    Fiscal Year 2025 Financial Results

    Total revenues. Total revenues in 2025 were $203.6 million, compared with $18.2 million for the period from April 1, 2023, through June 15, 2023, and $163.3 million for the period from June 16, 2023, through March 31, 2024.

    • Specialty connectors and pipes. Revenues from sales of specialty connectors and pipes in 2025 were $143.1 million, compared with $5.1 million for the period from April 1, 2023, through June 15, 2023, and $113.5 million for the period from June 16, 2023, through March 31, 2024. This increase was primarily due to a significant increase in demand from one of the Company’s major customers who had higher levels of business activities related to oil and gas production.
    • Surface wellhead and Christmas tree equipment. Revenues from sales of surface wellhead and Christmas tree equipment in 2025 were $8.7 million, compared with $3.0 million for the period from April 1, 2023, through June 15, 2023, and $6.8 million for the period from June 16, 2023, through March 31, 2024. This decrease was primarily due to delayed demand from one of the Company’s major customers in Indonesia, who is rationalizing their requirements as they plan for increased production to meet Indonesia’s energy security plan, as well as a delayed shipment to the Middle East which will materialize in the fiscal year 2026.
    • Premium threading services. Revenues from rendering of premium threading services in 2025 were $36.8 million, compared with $7.6 million for the period from April 1, 2023, through June 15, 2023, and $31.1 million for the period from June 16, 2023, through March 31, 2024. This slight decrease was primarily attributable to a relatively stable level of rig activities across oil and gas customers in the countries that drive demand for the Company’s premium threading services.
    • Other ancillary services. Revenues generated from other ancillary services in 2025 were $15.0 million, compared with $2.4 million for the period from April 1, 2023, through June 15, 2023, and $11.9 million for the period from June 16, 2023, through March 31, 2024. This increase was primarily due to greater customer demand for engineering testing, inspection and maintenance services.

    Cost of revenues. Cost of revenues in 2025 was $134.6 million, compared with $13.2 million for the period from April 1, 2023, through June 15, 2023, and $114.5 million for the period from June 16, 2023, through March 31, 2024.

    Gross profit. Gross profit in 2025 was $69.0 million, compared with $5.0 million for the period from April 1, 2023, through June 15, 2023, and $48.7 million for the period from June 16, 2023, through March 31, 2024. Gross margin in 2025 was 33.9%, compared with 27.6% for the period from April 1, 2023, through June 15, 2023, and 29.9% for the period from June 16, 2023, through March 31, 2024. The increase was mainly due to the growth in total revenues, as well as the benefits from economies of scale stemming from higher sales volume, sourcing productivity and an increase in the proportion of higher-margin services performed.

    Selling, general and administrative expenses. Selling, general and administrative expenses in 2025 were $9.1 million, compared with $1.8 million for the period from April 1, 2023, through June 15, 2023, and $8.6 million for the period from June 16, 2023, through March 31, 2024. The decrease was mainly due to a decrease in legal and professional fees, staff expenses and depreciation.

    Operating profit. Operating profit in 2025 was $59.9 million, compared with $3.2 million for the period from April 1, 2023, through June 15, 2023, and $40.2 million for the period from June 16, 2023, through March 31, 2024.

    Total other income/(expense), net. Total other income, net in 2025 was $0.2 million, compared with total other expense, net of $0.08 million for the period from April 1, 2023, through June 15, 2023, and total other income, net of $50.2 million for the period from June 16, 2023, through March 31, 2024. The change was primarily due to a non-recurring bargain purchase gain of $49.4 million related to the management buyout in the period from June 16, 2023, through March 31, 2024.

    Net profit. Net profit in 2025 was $47.0 million, compared with $2.4 million for the period from April 1, 2023, through June 15, 2023, and $82.1 million for the period from June 16, 2023, through March 31, 2024.

    Basic and diluted EPS. Basic and diluted earnings per share were both $1.18 in 2025, compared with $2.19 for the period June 16, 2023, through March 31, 2024.

    Balance Sheet and Cash Flow

    As of March 31, 2025, the Company’s cash and cash equivalents and restricted cash totaled $75.8 million, compared with $45.4 million as of March 31, 2024.

    Net cash provided by operating activities was $40.5 million, compared with net cash used of $2.9 million for the period from April 1, 2023, through June 15, 2023, and net cash provided of $24.0 million for the period from June 16, 2023, through March 31, 2024.

    About OMS Energy Technologies Inc.

    OMS Energy Technologies Inc. (NASDAQ: OMSE) is a growth-oriented manufacturer of surface wellhead systems (SWS) and oil country tubular goods (OCTG) for the oil and gas industry. Serving both onshore and offshore exploration and production operators, OMS is a trusted single-source supplier across six vital jurisdictions in the Asia Pacific, Middle Eastern and North African (MENA) regions. The Company’s 11 strategically located manufacturing facilities in key markets ensure rapid response times, customized technical solutions and seamless adaptation to evolving production and logistics needs. Beyond its core SWS and OCTG offerings, OMS also provides premium threading services to maximize operational efficiency for its customers.

    For more information, please visit ir.omsos.com.

    Safe Harbor Statement

    This press release contains statements that may constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    OMS Energy Technologies Inc.
    Investor Relations
    Email: ir@omsos.com

    Piacente Financial Communications
    Brandi Piacente
    Tel: +1-212-481-2050
    Email: oms@thepiacentegroup.com

    Hui Fan
    Tel: +86-10-6508-0677
    Email: oms@thepiacentegroup.com

    Unaudited Summary of Financial Results

    Consolidated Statements of Financial Positions
                 
        For the
    year ended
    March 31, 2025    		     For the
    year ended
    March 31, 2024    		  
        US$’000     US$’000  
    Assets            
    Current assets:            
    Cash and cash equivalents   72,950     43,470  
    Restricted cash, current   1,692     1,593  
    Trade receivables   13,467     31,948  
    Contract assets   983     1,730  
    Inventories   32,546     30,689  
    Prepayment and other current assets   1,646     3,067  
    Amount due from a related party   1,584     1,585  
    Total Current Assets   124,868     114,082  
                 
    Non-current assets:            
    Restricted cash, non-current   1,189     367  
    Right-of-use assets   8,086     3,549  
    Property, plant and equipment   32,055     32,040  
    Intangible assets   42     126  
    Deferred tax assets   2,938     2,574  
    Prepayment and other non-current assets   1,327     694  
    Total Non-Current Assets   45,637     39,350  
    Total Assets   170,505     153,432  
                 
    Liabilities            
    Current Liabilities:            
    Trade and other payables   15,070     47,535  
    Loans and borrowings   —     6,504  
    Tax payable   8,200     6,669  
    Lease liabilities, current   1,187     741  
    Total Current Liabilities   24,457     61,449  
                 
    Non-current Liabilities:            
    Employee benefits obligation   827     751  
    Lease liabilities, non-current   6,096     1,843  
    Deferred tax liabilities   4,217     3,684  
    Other payables, non-current   —     5,000  
    Provisions   321     351  
    Total Non-Current Liabilities   11,461     11,629  
    Total Liabilities   35,918     73,078  
                 
    Equity            
    Share capital   4     4  
    Share premium   72,648     67,648  
    Retained earnings   58,634     13,818  
    Accumulated other comprehensive loss   (2,397 )   (4,441 )
    Equity attributable to Shareholders of the Company   128,889     77,029  
    Non-controlling interests   5,698     3,325  
    Total equity   134,587     80,354  
                 
    Total liabilities and equity   170,505     153,432  
    Consolidated Statements of Profit or Loss and Other Comprehensive Income
                       
        Successor     Successor     Predecessor  
        For the
    year ended
    March 31, 2025    		     For the period
    June 16, 2023
    through
    March 31, 2024    		     For the period
    April 1
    through
    June 15, 2023    		  
        US$’000     US$’000     US$’000  
    Revenue – third parties   203,607     163,267     16,967  
    Revenue – related parties   —     —     1,215  
    Total revenue   203,607     163,267     18,182  
                       
    Cost of revenue – third parties   (134,620 )   (114,525 )   (13,080 )
    Cost of revenue – related parties   —     —     (75 )
    Total cost of revenue   (134,620 )   (114,525 )   (13,155 )
                       
    Gross profit   68,987     48,742     5,027  
                       
    Selling, general and administrative expenses   (9,122 )   (8,574 )   (1,790 )
    Operating profit   59,865     40,168     3,237  
                       
    Bargain purchase gain   —     49,429     —  
    Other income/(expenses), net – third parties   246     775     (108 )
    Other income, net – related parties   —     —     29  
    Total other income/(expenses), net   246     50,204     (79 )
                       
    Finance income – third parties   339     55     9  
    Finance income – related parties   —     —     65  
    Total finance income   339     55     74  
                       
    Finance cost – third parties   (284 )   (915 )   (38 )
    Finance cost – related parties   —     —     (162 )
    Total finance cost   (284 )   (915 )   (200 )
                       
    Profit before tax   60,166     89,512     3,032  
    Income tax expense   (13,189 )   (7,424 )   (657 )
    Net profit   46,977     82,088     2,375  
                       
    Other comprehensive income/(loss):                  
    Items that will not be reclassified to profit or loss                  
    Foreign currency translation differences   2,258     (1,701 )   (610 )
    Changes resulting from actuarial remeasurement of employee benefits obligation   (2 )   (33 )   (9 )
    Other comprehensive income/(loss), net of tax   2,256     (1,734 )   (619 )
    Total comprehensive income   49,233     80,354     1,756  
                       
    Net profit attributable to:                  
    Shareholders of the Company   44,816     80,880     1,867  
    Non-controlling interests   2,161     1,208     508  
    Net profit   46,977     82,088     2,375  
                       
    Total comprehensive income attributable to:                  
    Shareholders of the Company   46,860     79,184     1,310  
    Non-controlling interests   2,373     1,170     446  
    Total comprehensive income   49,233     80,354     1,756  
                       
    Basic and diluted weighted-average shares outstanding   37,822,500     36,900,000        
    Basic and diluted earnings per share (as adjusted) (US$)   1.18     2.19        
    Consolidated Statements of Cash Flows
                       
        Successor     Successor     Predecessor  
        For the
    year ended
    March 31, 2025    		     For the period
    June 16, 2023
    through
    March 31,
    2024    		     For the period
    April 1
    through
    June 15,
    2023    		  
        US$’000     US$’000     US$’000  
    Operating activities                  
    Net profit   46,977     82,088     2,375  
    Adjustments for:                  
    Income tax expenses   13,189     7,424     657  
    Depreciation of property, plant and equipment   2,711     3,800     251  
    Amortization of intangible assets   84     97     6  
    Depreciation of right-of-use assets   1,412     1,030     140  
    Loss/(gain) on disposal of property, plant and equipment   111     (357 )   —  
    Allowance for/(reversal of) inventories obsolescence   571     (335 )   (6 )
    Allowance for/(reversal of) expected credit losses   121     (3 )   —  
    Finance costs   284     915     200  
    Finance income   (339 )   (55 )   (74 )
    Loss/(gain) on unrealized foreign exchange   493     (793 )   134  
    Gain on bargain purchase   —     (49,429 )   —  
                       
    Changes in operating assets and liabilities:                  
    Trade receivables   18,975     (17,961 )   (2,727 )
    Contract assets   764     (1,505 )   1,139  
    Inventories   (2,329 )   (20,817 )   (360 )
    Prepayment and other assets   809     418     (1,219 )
    Trade receivables due from related parties   —     284     (428 )
    Trade and other payables   (32,239 )   26,157     (2,224 )
    Employee benefits obligation   59     11     24  
        51,653     30,969     (2,112 )
    Cash provided by operations:                  
    Interest received   339     55     74  
    Income taxes paid   (11,490 )   (6,979 )   (852 )
    Net cash provided by/(used in) operating activities   40,502     24,045     (2,890 )
                       
    Investing activities                  
    Proceeds from sale of property, plant and equipment   —     698     —  
    Cash payment for management buyout   —     (2,000 )   —  
    Acquisition of property, plant and equipment   (2,863 )   (3,238 )   (1,200 )
    Acquisition of intangible asset   —     (11 )   —  
    Repayment from/(loan to) related parties   —     —     20,981  
    Amount due from a related party   1     (1,585 )   —  
    Net cash (used in)/provided by investing activities   (2,862 )   (6,136 )   19,781  
    Financing activities                  
    Advances from potential investors   —     5,000     —  
    Proceeds from loans and borrowings   —     —     874  
    Proceeds from loans from related parties   —     —     8,845  
    Repayment of loans from related parties   —     —     (28,038 )
    Repayment of loans and borrowings   (6,504 )   (3,874 )   —  
    Interest paid   (253 )   (211 )   (200 )
    Payment of lease liabilities   (1,302 )   (824 )   (197 )
    Net cash (used in)/provided by financing activities   (8,059 )   91     (18,716 )
    Effect of foreign exchange on cash, cash equivalents and restricted cash   820     (2,473 )   (75 )
    Net increase/(decrease) in cash, cash equivalents and restricted cash   30,401     15,527     (1,900 )
    Cash, cash equivalents and restricted cash at beginning of year/period   45,430     29,903     31,803  
    Cash, cash equivalents and restricted cash at end of year/period   75,831     45,430     29,903  
    Less: Restricted cash, non-current   1,189     367     1,150  
    Less: Restricted cash, current   1,692     1,593     1,087  
    Cash and cash equivalents at end of year/period   72,950     43,470     27,666  

    The MIL Network –

  • MIL-OSI NGOs: Update 304 – IAEA Director General Statement on Situation in Ukraine

    Source: International Atomic Energy Agency (IAEA) –

    The International Atomic Energy Agency (IAEA) this week provided Ukraine with a freight vehicle for the transport of radioactive material, its 150th delivery of equipment to support nuclear safety and security in the country during the military conflict, Director General Rafael Mariano Grossi said today.

    State Enterprise USIE Izotop – involved in the management of radioactive material intended for medical, industrial and other purposes – received the truck that was funded by the European Union (EU) and Sweden. IAEA staff helped ensure that transport safety and security considerations were taken into account in the design of the vehicle.

    “Since the start of the conflict three and a half years ago, the IAEA has coordinated assistance for Ukraine of a wide range of technical equipment, medical supplies and other items that are of vital importance for nuclear safety and security. These deliveries are part of our overall efforts aimed at preventing a nuclear accident during this devastating war,” Director General Grossi said.

    “Thanks to the generous support of many of our Member States and the European Union, we have now carried out shipments with a total value of more than 19 million euros, each one helping to enhance different aspects of nuclear safety and security,” he said.

    Several other deliveries have taken place in recent weeks, supported by Belgium, the EU and Japan: the regional state laboratory in Mykolaiv province – badly affected by the destruction of the Kakhovka dam in mid-2023 – received a real-time PCR cycler (Polymerase Chain Reaction, a nuclear-derived technique) for fast and accurate analysis to help it fight the spread of disease as a result of the flooding; the medical unit of the Rivne Nuclear Power Plant received an ultrasound system; and a subsidiary of national nuclear operator Energoatom received a cryostat system ensuring continuity of services affected by power cuts and liquid nitrogen supply challenges.

    Director General Grossi said nuclear safety and security remains under threat in Ukraine.

    At the Zaporizhzhya Nuclear Power Plant (ZNPP), the IAEA team based at the site has continued to hear shelling, explosions, and gunfire almost every day.

    Earlier this month, the ZNPP informed the IAEA team that the site’s training centre was targeted in a drone strike on 13 July, resulting in damage to its roof. There were no reports of casualties. The team was not granted access to assess the damage to the training centre located outside the site perimeter, with the plant citing security concerns.

    In addition, the ZNPP’s off-site power situation continues to be extremely fragile, with the plant having had access to just one single power line for almost three months now, compared to ten before the conflict.

    The nearby city of Enerhodar – where most ZNPP staff live – suffered an electricity blackout on 17 July due to damage to its main power line, according to information provided to the IAEA team members.  They were also told that subsequent shelling had damaged some buildings in the city, which was also observed when the team visited Enerhodar on 19 July.

    A forest fire near Enerhodar that caused smoke which was observed by the IAEA team last weekend has been extinguished without any impact on nuclear safety, the plant said.  

    The IAEA team has continued to carry out walkdowns across the ZNPP site to monitor nuclear safety and security, observing the testing of three emergency diesel generators as well as visiting the containment and safety system rooms of two reactor units.

    They also discussed with the plant management different options for refilling the plant’s cooling pond following the loss of the Kakhovka dam two years ago and further planning on emergency preparedness and response, including preparations for a site exercise later this year.

    At Ukraine’s operating nuclear power plants (NPPs) – Khmelnytskyy, Rivne and South Ukraine – three of their total of nine units are currently in shutdown for refuelling and maintenance.

    The IAEA team based at these plants, and the Chornobyl site, reported hearing air raid alarms nearly every day over the past week.

    At the Khmelnytskyy and South Ukraine NPPs, the IAEA teams were informed that during the night of 18 July drones were detected a few kilometres away from the two sites. That same evening, the team at Chornobyl observed flashes of light and heard explosions in the distance.

    MIL OSI NGO –

  • MIL-OSI United Nations: Update 304 – IAEA Director General Statement on Situation in Ukraine

    Source: International Atomic Energy Agency (IAEA)

    The International Atomic Energy Agency (IAEA) this week provided Ukraine with a freight vehicle for the transport of radioactive material, its 150th delivery of equipment to support nuclear safety and security in the country during the military conflict, Director General Rafael Mariano Grossi said today.

    State Enterprise USIE Izotop – involved in the management of radioactive material intended for medical, industrial and other purposes – received the truck that was funded by the European Union (EU) and Sweden. IAEA staff helped ensure that transport safety and security considerations were taken into account in the design of the vehicle.

    “Since the start of the conflict three and a half years ago, the IAEA has coordinated assistance for Ukraine of a wide range of technical equipment, medical supplies and other items that are of vital importance for nuclear safety and security. These deliveries are part of our overall efforts aimed at preventing a nuclear accident during this devastating war,” Director General Grossi said.

    “Thanks to the generous support of many of our Member States and the European Union, we have now carried out shipments with a total value of more than 19 million euros, each one helping to enhance different aspects of nuclear safety and security,” he said.

    Several other deliveries have taken place in recent weeks, supported by Belgium, the EU and Japan: the regional state laboratory in Mykolaiv province – badly affected by the destruction of the Kakhovka dam in mid-2023 – received a real-time PCR cycler (Polymerase Chain Reaction, a nuclear-derived technique) for fast and accurate analysis to help it fight the spread of disease as a result of the flooding; the medical unit of the Rivne Nuclear Power Plant received an ultrasound system; and a subsidiary of national nuclear operator Energoatom received a cryostat system ensuring continuity of services affected by power cuts and liquid nitrogen supply challenges.

    Director General Grossi said nuclear safety and security remains under threat in Ukraine.

    At the Zaporizhzhya Nuclear Power Plant (ZNPP), the IAEA team based at the site has continued to hear shelling, explosions, and gunfire almost every day.

    Earlier this month, the ZNPP informed the IAEA team that the site’s training centre was targeted in a drone strike on 13 July, resulting in damage to its roof. There were no reports of casualties. The team was not granted access to assess the damage to the training centre located outside the site perimeter, with the plant citing security concerns.

    In addition, the ZNPP’s off-site power situation continues to be extremely fragile, with the plant having had access to just one single power line for almost three months now, compared to ten before the conflict.

    The nearby city of Enerhodar – where most ZNPP staff live – suffered an electricity blackout on 17 July due to damage to its main power line, according to information provided to the IAEA team members.  They were also told that subsequent shelling had damaged some buildings in the city, which was also observed when the team visited Enerhodar on 19 July.

    A forest fire near Enerhodar that caused smoke which was observed by the IAEA team last weekend has been extinguished without any impact on nuclear safety, the plant said.  

    The IAEA team has continued to carry out walkdowns across the ZNPP site to monitor nuclear safety and security, observing the testing of three emergency diesel generators as well as visiting the containment and safety system rooms of two reactor units.

    They also discussed with the plant management different options for refilling the plant’s cooling pond following the loss of the Kakhovka dam two years ago and further planning on emergency preparedness and response, including preparations for a site exercise later this year.

    At Ukraine’s operating nuclear power plants (NPPs) – Khmelnytskyy, Rivne and South Ukraine – three of their total of nine units are currently in shutdown for refuelling and maintenance.

    The IAEA team based at these plants, and the Chornobyl site, reported hearing air raid alarms nearly every day over the past week.

    At the Khmelnytskyy and South Ukraine NPPs, the IAEA teams were informed that during the night of 18 July drones were detected a few kilometres away from the two sites. That same evening, the team at Chornobyl observed flashes of light and heard explosions in the distance.

    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: Hong Kong Week 2025@Seoul showcases arts and cultural strengths and diversity (with photos)

    Source: Hong Kong Government special administrative region

    Hong Kong Week 2025@Seoul showcases arts and cultural strengths and diversity ???
         HK Week@Seoul will premiere tomorrow (July 25) with the pre-festival “Wu Guanzhong Art Sponsorship Overseas Exhibition Series: Wu Guanzhong: Between Black and White”, where 17 masterworks by the great Chinese painter Wu Guanzhong (1919-2010) from the collection of the Hong Kong Museum of Art will be exhibited for the first time in Korea, offering the audience a glimpse into his poetic world of ink and oil.
     
         The grand opening programme of HK Week@Seoul, “Romeo + Juliet” by Hong Kong Ballet, is choreographed by Septime Webre to reinterpret Shakespeare’s classic love story with Hong Kong in the 1960s as the backdrop, presenting Hong Kong’s East-meets-West artistic style.
     
         Dance highlights include the grand dance poem “A Dance of Celestial Rhythms” by the Hong Kong Dance Company, which integrates dance and lights inspired by the ancient Solar Terms; “Mr Blank 2.0” by the City Contemporary Dance Company, which explores disorientation and awakening of human nature through the interplay of physical space and digital projections; and “CollabAsia”, a collaboration between the Hong Kong Academy for Performing Arts and Sungkyunkwan University in Korea showcasing cross-cultural exchange between students.
     
         For music, the concert “Yan Huichang & Hong Kong Chinese Orchestra” will present various captivating music pieces in partnership with Korean musicians Kim Suin and Park Joonho as well as the Wizard Children’s Choir. The concert “Lio Kuokman, Yekwon Sunwoo & Hong Kong Philharmonic” will feature an orchestral concert led by the Hong Kong Philharmonic Orchestra’s Resident Conductor Lio Kuokman and Korean pianist Yekwon Sunwoo, performing a wide range of classical works from the contemporary and romantic eras.
     
          Pop culture will be highlighted by “ImagineLand@Seoul”, an outdoor concert bringing together Hong Kong and Korean singers, including Jonathan Wong and Korean singer Lena Park, for a vibrant showcase of pop music. The concert will also include classical music and original soundtracks from classic Korean dramas and Hong Kong movies. The concert will be followed by a screening of Hong Kong’s classic movie “An Autumn’s Tale” (1987), starring Chow Yun-fat and Cherie Chung.
     
         Film enthusiasts can enjoy two programmes. “‘Movies-to-GO’ – Border Crossings in Hong Kong Cinema – Korea” will screen two Hong Kong-Korean co-productions and four Hong Kong classic movies from the 1960s to 1980s, including the world premiere of a 4K digital restoration of “The Story of a Discharged Prisoner” (1967). “Making Waves – Navigators of Hong Kong Cinema” will screen more recent Hong Kong productions that reflect the city’s evolving cinematic voice.
     
         Two programmes supported by the Hong Kong Arts Development Council (HKADC) are “Travel of the Soul: Echoes after Time”, a dance piece by choreographer Terry Tsang collaborating with Korean dance luminaries, and “HKADC x BAC: Asian Modern Symphony Orchestra with Wilson Ng”, a concert where conductor Wilson Ng will lead musicians from Hong Kong, Korea and other parts of Asia to perform classical music spanning different eras and places, including a performance by renowned Hong Kong pianist Wong KaJeng.
     
         The Cultural and Creative Industries Development Agency will launch two exhibitions. The “Hong Kong Comics and Culture Exhibition” will present over 80 exhibits from Hong Kong’s martial arts-themed and satirical comic works, including classics such as “Old Master Q” and “My Boy”, as well as the successful cross-sectoral collaboration between Hong Kong’s comics and film and television. “LOCAL POWER Hong Kong Fashion Show and Exhibition in Seoul” will showcase approximately 110 fashion pieces by designers from Hong Kong and other cities of the Guangdong-Hong Kong-Macao Greater Bay Area and from Korea, while staging a fashion presentation blending AI technology with Cantopop and K-pop.
     
         Information on the dates and venues of the above programmes is set out in the Annex. Tickets for “Romeo + Juliet” and the concert “Yan Huichang & Hong Kong Chinese Orchestra” will be available for sale from tomorrow (July 25). Tickets for “A Dance of Celestial Rhythms”, the concert “Lio Kuokman, Yekwon Sunwoo & Hong Kong Philharmonic” and “Mr Blank 2.0” will be available for sale from August 8. For details, please visit www.hongkongweek.gov.hkIssued at HKT 16:55

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: Update 304 – IAEA Director General Statement on Situation in Ukraine

    Source: International Atomic Energy Agency – IAEA

    The International Atomic Energy Agency (IAEA) this week provided Ukraine with a freight vehicle for the transport of radioactive material, its 150th delivery of equipment to support nuclear safety and security in the country during the military conflict, Director General Rafael Mariano Grossi said today.

    State Enterprise USIE Izotop – involved in the management of radioactive material intended for medical, industrial and other purposes – received the truck that was funded by the European Union (EU) and Sweden. IAEA staff helped ensure that transport safety and security considerations were taken into account in the design of the vehicle.

    “Since the start of the conflict three and a half years ago, the IAEA has coordinated assistance for Ukraine of a wide range of technical equipment, medical supplies and other items that are of vital importance for nuclear safety and security. These deliveries are part of our overall efforts aimed at preventing a nuclear accident during this devastating war,” Director General Grossi said.

    “Thanks to the generous support of many of our Member States and the European Union, we have now carried out shipments with a total value of more than 19 million euros, each one helping to enhance different aspects of nuclear safety and security,” he said.

    Several other deliveries have taken place in recent weeks, supported by Belgium, the EU and Japan: the regional state laboratory in Mykolaiv province – badly affected by the destruction of the Kakhovka dam in mid-2023 – received a real-time PCR cycler (Polymerase Chain Reaction, a nuclear-derived technique) for fast and accurate analysis to help it fight the spread of disease as a result of the flooding; the medical unit of the Rivne Nuclear Power Plant received an ultrasound system; and a subsidiary of national nuclear operator Energoatom received a cryostat system ensuring continuity of services affected by power cuts and liquid nitrogen supply challenges.

    Director General Grossi said nuclear safety and security remains under threat in Ukraine.

    At the Zaporizhzhya Nuclear Power Plant (ZNPP), the IAEA team based at the site has continued to hear shelling, explosions, and gunfire almost every day.

    Earlier this month, the ZNPP informed the IAEA team that the site’s training centre was targeted in a drone strike on 13 July, resulting in damage to its roof. There were no reports of casualties. The team was not granted access to assess the damage to the training centre located outside the site perimeter, with the plant citing security concerns.

    In addition, the ZNPP’s off-site power situation continues to be extremely fragile, with the plant having had access to just one single power line for almost three months now, compared to ten before the conflict.

    The nearby city of Enerhodar – where most ZNPP staff live – suffered an electricity blackout on 17 July due to damage to its main power line, according to information provided to the IAEA team members.  They were also told that subsequent shelling had damaged some buildings in the city, which was also observed when the team visited Enerhodar on 19 July.

    A forest fire near Enerhodar that caused smoke which was observed by the IAEA team last weekend has been extinguished without any impact on nuclear safety, the plant said.  

    The IAEA team has continued to carry out walkdowns across the ZNPP site to monitor nuclear safety and security, observing the testing of three emergency diesel generators as well as visiting the containment and safety system rooms of two reactor units.

    They also discussed with the plant management different options for refilling the plant’s cooling pond following the loss of the Kakhovka dam two years ago and further planning on emergency preparedness and response, including preparations for a site exercise later this year.

    At Ukraine’s operating nuclear power plants (NPPs) – Khmelnytskyy, Rivne and South Ukraine – three of their total of nine units are currently in shutdown for refuelling and maintenance.

    The IAEA team based at these plants, and the Chornobyl site, reported hearing air raid alarms nearly every day over the past week.

    At the Khmelnytskyy and South Ukraine NPPs, the IAEA teams were informed that during the night of 18 July drones were detected a few kilometres away from the two sites. That same evening, the team at Chornobyl observed flashes of light and heard explosions in the distance.

    MIL Security OSI –

  • MIL-OSI Russia: Lightning: Thai military says nine civilians killed in clashes with Cambodia – media

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Xinhua | 24.07.2025

    Keywords: Thailand-Cambodia

    Source: Xinhua

    Flash: Thai Armed Forces Say Nine Civilians Killed in Clashes with Cambodia — Media Flash: Thai Armed Forces Say Nine Civilians Killed in Clashes with Cambodia — Media

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Cambodian PM urges people to remain calm amid clashes on Thai border

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    PHNOM PENH, July 24 (Xinhua) — Cambodian Prime Minister Hun Manet on Thursday called on the people to remain calm and trust the government and military amid a clash on the border with Thailand.

    Khun Manet wrote on his official social media page that the Thai army launched an attack on Cambodian military positions in Oddar Meanchey province on Thursday morning, and then in Preah Vihear province.

    “Cambodia has always maintained the position that it wants to resolve problems peacefully, but in this case we have no choice but to respond with armed forces to armed aggression,” he said. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Economics: Secretary-General of ASEAN meets with Vice Minister of Culture and Tourism of China

    Source: ASEAN – Association of SouthEast Asian Nations

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with H.E. Gao Zheng, Vice Minister of Culture and Tourism of China in Beijing. Both sides exchanged views on strengthening cooperation in culture and tourism under the ASEAN-China Comprehensive Strategic Partnership. The meeting highlighted a shared vision for enhancing cultural exchanges and tourism synergy, paving the way for innovative collaborations that celebrate cultural heritage and enrich tourism experiences, while fostering sustainable growth across ASEAN and China.

    The post Secretary-General of ASEAN meets with Vice Minister of Culture and Tourism of China appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • India Celebrates Income Tax Day 2025: A tribute to digital transformation and taxpayer empowerment

    Source: Government of India

    Source: Government of India (4)

    India today commemorates Income Tax Day, marking the 165th anniversary of the introduction of income tax in the country. Celebrated every year on July 24, the day acknowledges the evolution of India’s tax system and its pivotal role in nation-building.

    Income tax was first introduced in India on this day in 1860 by British economist Sir James Wilson to counter the financial strain caused by the First War of Independence in 1857. The framework laid then eventually culminated in the Income Tax Act of 1922 and later the comprehensive Income Tax Act of 1961, which still governs the taxation system in the country today.

    In recent decades, India’s income tax system has undergone a profound digital transformation, shifting from manual record-keeping to a tech-enabled, citizen-friendly administration. The process began with the introduction of the Permanent Account Number (PAN) in 1972, followed by initial computerization in 1981. The current PAN series, introduced in 1995, enabled better tracking and compliance.

    A major technological leap came with the establishment of the Centralized Processing Centre (CPC) in Bengaluru in 2009, allowing for jurisdiction-free, digital processing of tax returns. The Tax Information Network (TIN), and its upgraded version TIN 2.0, further enhanced convenience, offering real-time tax credits and quicker refunds. The Demand Facilitation Centre in Mysuru now serves as a central repository for outstanding tax demands, easing access for both taxpayers and officials.

    The government’s focus on transparency and data-driven governance is also reflected in the use of Project Insight. This integrated data platform enables the Income Tax Department (ITD) to create a 360-degree financial profile of taxpayers by integrating data from various sources, such as GSTN, financial institutions, and property registries. These insights help in detecting discrepancies and prompting voluntary compliance through non-intrusive nudges.

    The Faceless Assessment Scheme, launched in 2019, has revolutionized tax assessments by removing physical interaction between the taxpayer and the tax officer. Taxpayers now receive automated notices, assessments, and communications through a digital platform, enhancing accountability and efficiency.

    Additionally, the Annual Information Statement (AIS), implemented in November 2021, provides individuals with a consolidated view of their financial activity across the year. It pre-fills income tax returns using verified third-party data, minimizing errors and promoting self-compliance. This, along with the e-Verification Scheme, allows discrepancies to be resolved entirely online.

    As part of a continued effort to simplify compliance and encourage voluntary participation, the Finance Act, 2025 has extended the deadline for filing updated income tax returns from 24 months to 48 months. This amendment gives taxpayers more time to correct errors and avoid penalties while ensuring fair contribution.

    Tax collection trends underline the success of these reforms. The total number of Income Tax Returns (ITRs) filed rose by 36% over the past five years, reaching 9.19 crore filings in FY 2024–25, compared to 6.72 crore in FY 2020–21. Gross Direct Tax Collections also saw a sharp rise—from ₹12.31 lakh crore in 2020–21 to ₹27.02 lakh crore in 2024–25, reflecting both economic resilience and improved compliance.

    The Union Budget 2025–26 introduced several relief measures to ease the tax burden on individuals. Under the new tax regime, income up to ₹12 lakh is now tax-free. With the standard deduction of ₹75,000, salaried individuals with income up to ₹12.75 lakh will have zero tax liability. These measures are expected to boost household spending, particularly among the middle class.

    Other notable changes include an increase in TDS and TCS thresholds, decriminalization of TCS payment delays, and full tax exemption for withdrawals from National Savings Scheme (NSS) accounts made after August 29, 2024. The time limit for registering small charitable trusts has also been extended, while taxpayers with two self-occupied properties can now claim exemptions for both without restrictions.

    Significantly, the Income Tax Bill, 2025 has been tabled to replace the Income Tax Act of 1961. While retaining the core principles, the new bill seeks to simplify the language of tax laws, remove redundant provisions, and improve clarity for taxpayers and professionals alike.

  • Russian plane crashes in Russia’s far east, nearly 50 people on board feared dead

    Source: Government of India

    Source: Government of India (4)

    An Antonov An-24 passenger plane carrying about 50 people crashed in Russia’s far east on Thursday and initial information suggested that everyone on board was killed, Russian emergency services officials said.

    The burning fuselage of the plane, which was from the Soviet era and was nearly 50 years old, was spotted on the ground by a helicopter and rescue crews were rushing to the scene.

    Unverified video, shot from a helicopter and posted on social media, appeared to show that the plane had come down in a densely forested area.

    The plane, whose tail number showed it was built in 1976, was operated by a Siberia-based airline called Angara.

    It was en route from the city of Blagoveshchensk to Tynda and dropped off radar screens while approaching Tynda, a remote town in the Amur region bordering China.

    There were 43 passengers, including five children, and six crew members on board according to preliminary data, Vasily Orlov, the regional governor said.

    The emergencies ministry put the number of people on board somewhat lower, at around 40.

    Debris from the plane was found on a hill around 15 km (10 miles) from Tynda, the Interfax news agency quoted emergency service officials as saying.

    “During the search operation, a Mi-8 helicopter belonging to Rossaviatsiya discovered the fuselage of the aircraft, which was on fire,” Yuliya Petina, an emergency services official, wrote on Telegram.

    “Rescuers continue to make their way to the scene of the accident”.

    Authorities announced an investigation into the crash.

    (Reuters)

  • Manufacturing drives India’s flash PMI to 60.7 in July, private sector shows robust growth

    Source: Government of India

    Source: Government of India (4)

    India’s private sector showed robust growth in July, fuelled by strong manufacturing and global demand, the HSBC Flash India Composite Purchasing Managers’ Index (PMI) showed on Thursday.

    The headline HSBC Flash India Composite PMI Output Index, compiled by S&P Global, rose to 60.7 in July from 58.4 in June.

    The Manufacturing PMI index climbed to 59.2 in July from 58.4 in June – its highest level in nearly 17-and-a-half years.

    The Services PMI was 59.8 in July, down from 60.4 in June. While services activity continued to grow, the pace of expansion softened, according to the note.

    “India’s flash composite PMI remained healthy in July at 60.7. The strong performance was bolstered by growth in total sales, export orders, and output levels. Indian manufacturers led the way, recording faster rates of expansion than services for all of the three aforementioned metrics,” said Pranjul Bhandari, chief India economist at HSBC.

    International orders received by private sector firms in India rose sharply at the start of the second fiscal quarter (Q2 FY26).

    “Meanwhile, inflationary pressures continue to heat up as both input costs and output charges rose in July. Finally, business confidence fell to its lowest mark since March 2023, while employment growth moderated,” Bhandari noted.

    The Indian companies remained optimistic about output growth over the next 12 months.

    There is a firm pick-up in employment, especially in the service sector, suggesting healthy job creation accompanies the expansion of both India’s manufacturing and service sectors, according to the note.

    While goods producers indicated the slowest increase in output for three months during May, service providers reported the fastest rise since March 2024.

    At the composite level, the latest upturn was the quickest in just over a year. Monitored companies attributed growth to buoyant demand, investment in technology and expanded capacities, said the HSBC survey.

    (IANS)

  • MIL-OSI Economics: ADB President Calls for Increased Innovation Investment at STS Forum

    Source: Asia Development Bank

    ADB President Masato Kanda urged increased investment in science, technology, and innovation to drive inclusive and sustainable growth in Southeast Asia during his keynote address at the 9th Science and Technology in Society (STS) Forum ASEAN–Japan Conference in Jakarta.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN meets with Vice Minister of Foreign Affairs and SOM Leader for East Asian Cooperation of China

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with H.E. Sun Weidong, Vice Minister of Foreign Affairs and SOM Leader for East Asian Cooperation of China, in Beijing. The meeting served as an opportunity to exchange views on the ASEAN-China Comprehensive Strategic Partnership, and discussed ways to further enhance cooperation in various areas, including the preparations for the upcoming 28th ASEAN-China Summit in October 2025. Both sides also exchanged views on regional and international developments of common interest and concern.

    The post Secretary-General of ASEAN meets with Vice Minister of Foreign Affairs and SOM Leader for East Asian Cooperation of China appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • Supreme Court stays Bombay HC verdict acquitting 12 accused in 2006 Mumbai train blasts case

    Source: Government of India

    Source: Government of India (4)

    The Supreme Court of India on Thursday stayed a Bombay High Court judgment that acquitted 12 men convicted in the 2006 Mumbai train bombings, after the Maharashtra government argued that the ruling could undermine ongoing cases under the Maharashtra Control of Organised Crime Act (MCOCA).

    The court made it clear that its order would not affect the release of the 12 men, all of whom had already been freed following their acquittal.

    A bench of Justices M.M. Sundresh and N. Kotiswar Singh also issued notices to all 12 acquitted individuals and sought their responses to the state’s appeal.

    Solicitor General Tushar Mehta, representing the Maharashtra government, told the court that the state was not seeking to reverse the release of the accused but was concerned about the broader implications of the High Court’s findings. Accepting the argument, the bench said the Bombay High Court’s ruling would not carry precedential value until further orders.

    The High Court, in its judgment delivered on July 21, had overturned the 2015 convictions of the 12 men by a special MCOCA court. Five of the accused had been sentenced to death and the rest to life imprisonment. The court found that the prosecution had failed to establish the charges beyond reasonable doubt, describing the investigation as flawed and marred by procedural lapses.

    Additionally, the court found serious issues with the reliability of eyewitness accounts.

    On July 11, 2006, seven bombs exploded in packed Mumbai local trains, bringing the city to a standstill within 11 minutes.

    The coordinated terror attack left 189 dead and over 800 injured.

  • Parliament Monsoon Session: Lok Sabha adjourned till 2 pm amid sloganeering by Opposition

    Source: Government of India

    Source: Government of India (4)

    The fourth day of the Monsoon Session of Parliament saw continued disruption, with the Lok Sabha adjourned until 2 pm on Thursday following protests by Opposition members over the controversial Special Intensive Revision (SIR) of electoral rolls in Bihar.

    As the House convened at 11 am, Opposition MPs raised slogans and staged a noisy protest, demanding a debate on the Election Commission’s SIR initiative.

    Speaker Om Birla repeatedly appealed for order, but the protests continued, forcing him to suspend proceedings early.

    This marks the fourth consecutive day of disruptions in Parliament, with the Opposition pressing for discussions not only on the Bihar voter verification drive but also on the recent Pahalgam terror attack and Operation Sindoor.

    Before the adjournment, Birla urged Opposition members to maintain decorum, saying the conduct in the House was falling short of expectations.

    Earlier in the day, senior Congress leaders Sonia Gandhi and Priyanka Gandhi Vadra joined the protest at Makar Dwar. Priyanka was seen holding a placard that read, “Democracy in Danger.”

    Opposition leaders have alleged that the SIR exercise unfairly targets marginalised groups and migrant populations, calling it an attempt at “institutional voter cleansing.” Congress MP Manickam Tagore submitted an adjournment motion under Rule 56, describing the EC’s move as “unconstitutional” and an attack on the fundamental right to vote.

    Outside Parliament, AAP Rajya Sabha MP Sanjay Singh echoed these concerns, claiming that residents from Bihar and Purvanchal living in Delhi are being harassed and disenfranchised.

    On Wednesday, both Houses of Parliament had been adjourned multiple times before being suspended for the day.

    (With inputs from IANS)

  • Russia, Ukraine discuss more POW swaps; no deal on ceasefire or leaders’ meeting

    Source: Government of India

    Source: Government of India (4)

    Russia and Ukraine discussed further prisoner swaps on Wednesday at a brief session of peace talks in Istanbul, but the sides remained far apart on ceasefire terms and a possible meeting of their leaders.

    “We have progress on the humanitarian track, with no progress on a cessation of hostilities,” Ukraine’s chief delegate Rustem Umerov said after talks that lasted just 40 minutes.

    He said Ukraine had proposed a meeting before the end of August between Ukraine’s President Volodymyr Zelenskiy and Russian President Vladimir Putin. He added: “By agreeing to this proposal, Russia can clearly demonstrate its constructive approach.”

    Russia’s chief delegate Vladimir Medinsky said the point of a leaders’ meeting should be to sign an agreement, not to “discuss everything from scratch”.

    He renewed Moscow’s call for a series of short ceasefires of 24-48 hours to enable the retrieval of bodies. Ukraine says it wants an immediate and much longer ceasefire.

    The talks took place just over a week after U.S. President Donald Trump threatened heavy new sanctions on Russia and countries that buy its exports unless a peace deal was reached within 50 days.

    There was no sign of any progress towards that goal, although both sides said there was discussion of further humanitarian exchanges following a series of prisoner swaps, the latest of which took place on Wednesday.

    Medinsky said the negotiators agreed to exchange at least 1,200 more prisoners of war from each side, and Russia had offered to hand over another 3,000 Ukrainian bodies.

    He said Moscow was working through a list of 339 names of Ukrainian children that Kyiv accuses it of abducting. Russia denies that charge and says it has offered protection to children separated from their parents during the war.

    “Some of the children have already been returned back to Ukraine. Work is under way on the rest. If their legal parents, close relatives, representatives are found, these children will immediately return home,” Medinsky said.

    Umerov said Kyiv was expecting “further progress” on POWs, adding: “We continue to insist on the release of civilians, including children.” Ukrainian authorities say at least 19,000 children have been forcibly deported.

    SHORTEST TALKS YET

    Before the talks, the Kremlin had played down expectations, describing the two sides’ positions as diametrically opposed and saying no one should expect miracles.

    At 40 minutes, the meeting was even shorter than the two sides’ previous encounters on May 16 and June 2, which lasted a combined total of under three hours.

    Oleksandr Bevz, a member of the Ukrainian delegation, said Kyiv had proposed a Putin-Zelenskiy meeting in August because that would fall within the deadline set by Trump for a deal.

    Putin turned down a previous challenge from Zelenskiy to meet in person and has said he does not see him as a legitimate leader because Ukraine, which is under martial law, did not hold new elections when Zelenskiy’s five-year mandate expired last year.

    Trump has patched up relations with Zelenskiy after a public row with him at the White House in February, and has lately expressed growing frustration with Putin.

    Three sources close to the Kremlin told Reuters last week that Putin, unfazed by Trump’s ultimatum, would keep fighting in Ukraine until the West engaged on his terms for peace, and that his territorial demands may widen as Russian forces advance.

    (Reuters)

  • MIL-OSI: BE Semiconductor Industries N.V. Announces Q2-25 Results

    Source: GlobeNewswire (MIL-OSI)

    Q2-25 Revenue and Net Income of € 148.1 Million and € 32.1 Million, Respectively

    H1-25 Revenue and Net Income of € 292.2 Million and € 63.6 Million, Respectively

    DUIVEN, the Netherlands, July 24, 2025 (GLOBE NEWSWIRE) — BE Semiconductor Industries N.V. (the “Company” or “Besi”) (Euronext Amsterdam: BESI; OTC markets: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the second quarter and first half year ended June 30, 2025.

    Key Highlights Q2-25

    • Revenue of € 148.1 million grew 2.8% vs. Q1-25 and was within prior guidance due primarily to higher die attach shipments for mainstream computing applications. Revenue decreased 2.1% vs. Q2-24 principally due to weakness in mobile end markets partially offset by growth in hybrid bonding shipments
    • Orders of € 128.0 million decreased 3.0% vs. Q1-25 due primarily due to ongoing weakness in mainstream computing and mobile applications partially offset by significant new orders for TCB Next systems. Orders declined 30.9% vs. Q2-24 due primarily to lower orders for hybrid bonding and mobile applications
    • Gross margin of 63.3% decreased by 0.3 points vs. Q1-25 and by 1.7 points vs. Q2-24 due to a less favorable product mix and adverse forex effects from a decline in the USD versus the euro
    • Net income of € 32.1 million increased 1.9% vs. Q1-25. Versus Q2-24, net income decreased 23.4% due principally to lower revenue and gross margins, increased R&D spending and higher interest expense related to the Senior Note offering in July 2024. Q2-25 net margin decreased to 21.6% vs. 21.9% in Q1-25 and 27.7% in Q2-24
    • Cash and deposits of € 490.2 million at June 30, 2025 increased by 90.6% vs. June 30, 2024 due to the Senior Note offering in July 2024

    Key Highlights H1-25

    • Revenue of € 292.2 million decreased 1.8% vs. H1-24 principally due to ongoing weakness in mainstream assembly markets, particularly for mobile and automotive applications, partially offset by increased shipments of hybrid bonding systems
    • Orders of € 259.9 million were down 17.0% vs. H1-24 primarily due to lower bookings for hybrid bonding systems and for mobile applications, partially offset by increased die attach orders by Asian subcontractors for AI related computing applications and new orders for Besi’s TCB Next system
    • Gross margin of 63.4% decreased by 2.7 points versus H1-24 primarily due to a less favorable product mix and adverse forex effects
    • Net income of € 63.6 million decreased € 12.3 million, or 16.2%, vs. H1-24 primarily due to lower revenue and gross margin and higher interest expense. Similarly, Besi’s net margin decreased to 21.7% versus 25.5% in H1-24

    Q3-25 Outlook  

    • Revenue is expected to decline 5-15% vs. the € 148.1 million reported in Q2-25
    • Orders are expected to increase significantly vs. Q2-25 primarily due to increased demand for hybrid bonding systems and die attach systems for AI-related 2.5D computing applications
    • Gross margin is expected to range between 60-62% and decrease vs. the 63.3% realized in Q2-25 primarily due to adverse forex effects from a significantly lower USD versus the euro
    • Operating expenses are expected to be flat +/- 5% vs. € 50.2 million in Q2-25
    (€ millions, except EPS) Q2-
    2025    		 Q1-
    2025    		 Δ Q2-
    2024    		  
    Δ    		 HY1-
    2025    		 HY1-
    2024    		 Δ
    Revenue 148.1 144.1 +2.8% 151.2 -2.1% 292.2 297.5 -1.8%
    Orders 128.0 131.9 -3.0% 185.2 -30.9% 259.9 313.0 -17.0%
    Gross Margin 63.3% 63.6% -0.3 65.0% -1.7 63.4% 66.1% -2.7
    Operating Income 43.5 39.3 +10.7% 49.3 -11.8% 82.8 90.0 -8.0%
    Net Income 32.1 31.5 +1.9% 41.9 -23.4% 63.6 75.9 -16.2%
    Net Margin 21.6% 21.9% -0.3 27.7% -6.1 21.7% 25.5% -3.8
    EPS (basic) 0.40 0.40 – 0.53 -24.5% 0.80 0.97 -17.5%
    EPS (diluted) 0.40 0.40 – 0.53 -24.5% 0.80 0.97 -17.5%
    Net Cash and Deposits -36.0* 159.4 -122.6% 74.4* -148.4% -36.0* 74.4* -148.4%

    * Reflects cash dividend payments of € 172.8 million and € 171.5 million in Q2-25 and Q2-24, respectively.

    Richard W. Blickman, President and Chief Executive Officer of Besi, commented:
    “Besi reported Q2-25 revenue, operating income and net income of € 148.1 million, € 43.5 million and € 32.1 million, respectively. Revenue and operating results were at the midpoint of prior guidance in a mainstream assembly equipment market still affected by soft demand for mobile and automotive applications. Market development in Q2-25 was also affected by increased customer caution due to global trade tensions. Q2-25 revenue and operating income grew sequentially by 2.8% and 10.7%, respectively, as we saw an increase in shipments to Asian subcontractors for AI-related datacenter applications combined with a 4.3% decrease in sequential operating expenses. Orders for the quarter decreased 3.0% versus Q1-25 as weakness in mainstream computing and mobile applications was partially offset by new orders for Besi’s TCB Next system.

    For the first half year, revenue of € 292.2 million decreased 1.8% versus H1-24 reflecting broader assembly market trends as weakness in mobile and, to a lesser extent, automotive end markets was significantly offset by growth in hybrid bonding revenue which more than doubled versus H1-24. Orders decreased by 17.0% due to the timing of customer orders for hybrid bonding systems and a lack of new product introductions in high-end smartphones. H1-25 operating and net income decreased by 8.0% and 16.2%, respectively, versus H1-24 primarily due to lower revenue and a 2.7-point reduction in gross margin from a less favorable product mix, adverse net forex effects from the decline of the USD versus the euro and increased interest expense related to Besi’s Senior Note issuance in July 2024. Liquidity remained strong with cash and deposits of € 490.2 million at June 30, 2025 increasing by 90.6% vs. June 30, 2024 due to the Senior Note offering in July 2024.

    We believe the outlook for Besi’s business in H2-25 has improved in recent weeks based on customer feedback and order trends subsequent to quarter end. Expanded capex budgets for AI infrastructure have been confirmed by each of the leading industry players in recent quarters with new use cases emerging in cloud and edge computing along with co-packaged optics. Advanced packaging is one of the key ways to achieve AI system differentiation, develop innovative consumer edge AI devices and provide the most energy-efficient data center performance. Advanced packaging demand for AI applications remains strong given new device introductions expected in 2026-2028. We believe we are well positioned in the fastest-growing advanced packaging market segments including data centers, photonics, AI-enhanced PCs and mobile devices and EVs/autonomous driving.

    As such, orders for our hybrid bonding systems are expected to increase significantly in H2-25 versus both H1-25 and H2-24 in both advanced logic and HBM4 memory applications as customers advance their technology roadmaps for new product introductions in 2026 and 2027. Customer interest in our TCB Next system for both memory and logic applications has also expanded significantly. TCB Next cycle times have improved with shipments anticipated in Q4-25 from orders received in Q2-25. We also anticipate increased orders for 2.5D advanced packaging systems for AI-related datacenter applications from both global IDMs and Asian subcontractors. In addition, there are early signs of a recovery in our mainstream assembly markets principally related to increased demand by Asian subcontractors for high-end mobile applications and high-performance computing applications for consumer markets.

    For Q3-25, we anticipate that revenue will decline by approximately 5-15% versus Q2-25. However, orders for Q3-25 are expected to increase significantly on a sequential basis due to increased demand for hybrid bonding and 2.5D advanced packaging applications. Besi’s gross margin is anticipated to decline to a range of 60-62% in Q3-25 due to the adverse impact of a 12.8% decline in the value of the USD versus the euro in the first half of 2025. Operating expenses in Q3-25 are expected to be flat plus or minus 5% versus Q2-25 despite increased R&D spending.”

    Share Repurchase Activity
    During the quarter, Besi spent € 20.7 million to repurchase approximately 196,000 of its ordinary shares at an average price of € 105.80 per share. As of June 30, 2025, € 72.2 million of the current € 100 million share repurchase authorization has been used to repurchase approximately 644,000 ordinary shares at an average price of € 111.96 per share. As of June 30, 2025, Besi held approximately 2.0 million shares in treasury, equivalent to 2.5% of shares outstanding.

    Investor and media conference call
    A conference call and webcast for investors and media will be held today at 4:00 pm CET (10:00 am EDT). To register for the conference call and/or to access the audio webcast and webinar slides, please visit www.besi.com.

    Important Dates
    • Publication Q3/Nine-month results
    • Publication Q4/Full year results

    October 23, 2025
    February 2026

    Basis of Presentation
    The accompanying Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union. Reference is made to the Summary of Significant Accounting Policies to the Notes to the Consolidated Financial Statements as included in our 2024 Annual Report, which is available on www.besi.com.

    Contacts:
    Richard W. Blickman, President & CEO
    Andrea Kopp-Battaglia, Senior Vice President Finance
    Claudia Vissers, Executive Secretary/IR coordinator
    Edmond Franco, VP Corporate Development/US IR coordinator
    Michael Sullivan, Investor Relations
    Tel. (31) 26 319 4500
    investor.relations@besi.com

    About Besi
    Besi is a leading manufacturer of assembly equipment supplying a broad portfolio of advanced packaging solutions to the semiconductor and electronics industries. We offer customers high levels of accuracy, reliability and throughput at a lower cost of ownership with a principal focus on wafer level and substrate assembly solutions. Customers are primarily leading semiconductor manufacturers, foundries, assembly subcontractors and electronics and industrial companies. Besi’s ordinary shares are listed on Euronext Amsterdam (symbol: BESI). Its Level 1 ADRs are listed on the OTC markets (symbol: BESIY) and its headquarters are located in Duiven, the Netherlands. For more information, please visit our website at www.besi.com.

    Caution Concerning Forward-Looking Statements
    This press release contains statements about management’s future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the press release, including, but not limited to, statements relating to expectations of orders, net sales, product shipments, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use of words such as “anticipate”, “estimate”, “expect”, “can”, “intend”, “believes”, “may”, “plan”, “predict”, “project”, “forecast”, “will”, “would”, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The financial guidance set forth under the heading “Outlook” contains such forward-looking statements. While these forward-looking statements represent our judgments and expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from those contained in forward-looking statements, including any inability to maintain continued demand for our products; failure of anticipated orders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand for semiconductors and our products and services; the extent and duration of the COVID-19 and other global pandemics and the associated adverse impacts on the global economy, financial markets, global supply chains and our operations as well as those of our customers and suppliers; failure to develop new and enhanced products and introduce them at competitive price levels; failure to adequately decrease costs and expenses as revenues decline; loss of significant customers, including through industry consolidation or the emergence of industry alliances; lengthening of the sales cycle; acts of terrorism and violence; disruption or failure of our information technology systems; consolidation activity and industry alliances in the semiconductor industry that may result in further increased customer concentration, inability to forecast demand and inventory levels for our products; the integrity of product pricing and protection of our intellectual property in foreign jurisdictions; risks, such as changes in trade regulations, conflict minerals regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations, particularly to the extent occurring in the Asia Pacific region where we have a substantial portion of our production facilities; potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; any inability to attract and retain skilled personnel, including as a result of restrictions on immigration, travel or the availability of visas for skilled technology workers.

    In addition, the United States and other countries have recently levied tariffs and taxes on certain goods and could significantly increase or impose new tariffs on a broad array of goods. They have imposed, and may continue to impose, new trade restrictions and export regulations. Increased or new tariffs and additional taxes, including any retaliatory measures, trade restrictions and export regulations, could negatively impact end-user demand and customer investment in semiconductor equipment, increase Besi’s supply chain complexity and manufacturing costs, decrease margins, reduce the competitiveness of our products or restrict our ability to sell products, provide services or purchase necessary equipment and supplies. Any or all of the foregoing factor could have a material and adverse effect on our business, results of operations or financial condition. In addition, investors should consider those additional risk factors set forth in Besi’s annual report for the year ended December 31, 2024 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. We expressly disclaim any obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.

    Consolidated Statements of Operations
         
    (€ thousands, except share and per share data) Three Months Ended
    June 30,
    (unaudited)    		 Six Months Ended
    June 30,
    (unaudited)
      2025 2024 2025 2024
             
    Revenue 148,101 151,176 292,246 297,490
    Cost of sales 54,410 52,908 106,833 100,951
             
    Gross profit 93,691 98,268 185,413 196,539
             
    Selling, general and administrative expenses 30,629 30,514 63,587 70,155
    Research and development expenses 19,571 18,503 39,073 36,422
             
    Total operating expenses 50,200 49,017 102,660 106,577
             
    Operating income 43,491 49,251 82,753 89,962
             
    Financial expense, net 5,693 1,045 8,652 1,634
             
    Income before taxes 37,798 48,206 74,101 88,328
             
    Income tax expense 5,748 6,261 10,545 12,404
             
    Net income 32,050 41,945 63,556 75,924
             
    Net income per share – basic 0.40 0.53 0.80 0.97
    Net income per share – diluted 0.40 0.53 0.80 0.97
    Number of shares used in computing per share amounts:
    – basic
    – diluted 1

    79,184,703
    81,288,679

    79,281,533
    81,941,471

    79,206,267
    81,405,308

    78,231,430
    82,023,808

    ______________________
    1) The calculation of diluted income per share assumes the exercise of equity settled share based payments and the conversion of all Convertible Notes outstanding

    Consolidated Balance Sheets
     
    (€ thousands) June
    30, 2025
    (unaudited)    		 March
    31, 2025
    (unaudited)    		 December
    31, 2024
    (audited)
    ASSETS      
           
    Cash and cash equivalents 330,170 405,736 342,319
    Deposits 160,000 280,000 330,000
    Trade receivables 178,615 170,440 181,862
    Inventories 96,977 103,836 103,285
    Other current assets 53,821 46,099 40,927
           
    Total current assets 819,583 1,006,111 998,393
           
    Property, plant and equipment 51,089 42,868 44,773
    Right of use assets 13,799 15,161 15,726
    Goodwill 44,857 45,610 46,010
    Other intangible assets 103,933 98,622 96,677
    Investment property 5,206 – –
    Deferred tax assets 27,494 29,240 31,567
    Other non-current assets 1,303 1,347 1,330
           
    Total non-current assets 247,681 232,848 236,083
           
    Total assets 1,067,264 1,238,959 1,234,476
           
           
    Bank overdraft –   840 776
    Current portion of long-term debt –   – 2,042
    Trade payables 47,458 46,598 52,630
    Other current liabilities 95,530 111,170 111,531
           
    Total current liabilities 142,988 158,608 166,979
           
    Long-term debt 526,184 525,493 525,653
    Lease liabilities 10,873 11,770 12,350
    Deferred tax liabilities 10,523 10,416 10,320
    Other non-current liabilities 19,915 19,328 17,910
           
    Total non-current liabilities 567,495 567,007 566,233
           
    Total equity 356,781 513,344 501,264
           
    Total liabilities and equity 1,067,264 1,238,959 1,234,476
    Consolidated Cash Flow Statements
         
    (€ thousands)
    		 Three Months Ended
    June 30,
    (unaudited)    		 Six Months Ended
    June 30,
    (unaudited)
      2025 2024 2025 2024
             
    Cash flows from operating activities:        
             
    Income before income tax 37,798 48,206 74,101 88,328
             
    Depreciation and amortization 7,458 6,980 14,765 13,793
    Share based payment expense 4,342 6,916 8,783 23,816
    Financial expense, net 5,694 1,045 8,653 1,634
             
    Changes in working capital (11,032) (46,694) (13,145) (49,945)
    Interest (paid) received 3,726 3,893 839 5,062
    Income tax paid (21,988) (15,428) (23,563) (17,517)
             
    Net cash provided by operating activities 25,998 4,918 70,433 65,171
             
    Cash flows from investing activities:        
    Capital expenditures (11,764) (3,216) (13,497) (8,866)
    Capitalized development expenses (7,320) (4,912) (14,057) (9,575)
    Acquisition of investment property (5,206) – (5,206) –
    Repayments of (investments in) deposits 120,000 85,000 170,000 95,000
             
    Net cash provided by (used in) investing activities 95,710 76,872 137,240 76,559
             
    Cash flows from financing activities:        
    Proceeds from (payments of) bank lines of credit (840) – (776) –
    Proceeds from (payments of) debt (2,042) – (2,042) –
    Payments of lease liabilities (1,111) (1,063) (2,225) (2,106)
    Purchase of treasury shares (20,721) (14,810) (42,785) (29,589)
    Dividends paid to shareholders (172,811) (171,534) (172,811) (171,534)
             
    Net cash used in financing activities (197,525) (187,407) (220,639) (203,229)
             
    Net increase (decrease) in cash and cash equivalents (75,817) (105,617) (12,966) (61,499)
    Effect of changes in exchange rates on cash and
      cash equivalents    		 251 798 817 256
    Cash and cash equivalents at beginning of the
       period    		 405,736 232,053 342,319 188,477
             
    Cash and cash equivalents at end of the period 330,170 127,234 330,170 127,234
    Supplemental Information (unaudited)
    (€ millions, unless stated otherwise)
                             
    REVENUE Q2-2025 Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                             
    Per geography:                        
    China 37.5   25%   40.5   28%   42.8   28%   45.5   29%   57.5   38%   58.5   40%  
    Asia Pacific (excl. China) 66.1   45%   56.3   39%   53.5   35%   51.6   33%   54.1   36%   43.6   30%  
    EU / USA / Other 44.5   30%   47.3   33%   57.1   37%   59.5   38%   39.6   26%   44.2   30%  
                             
    Total 148.1   100%   144.1   100%   153.4   100%   156.6   100%   151.2   100%   146.3   100%  
                             
    ORDERS Q2-2025 Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                             
    Per geography:                        
    China 44.4   35%   39.7   30%   40.4   33%   45.4   30%   43.3   23%   51.1   40%  
    Asia Pacific (excl. China) 60.7   47%   51.7   39%   38.8   32%   69.3   46%   72.0   39%   45.0   35%  
    EU / USA / Other 22.9   18%   40.5   31%   42.7   35%   37.1   24%   69.9   38%   31.6   25%  
                             
    Total 128.0   100%   131.9   100%   121.9   100%   151.8   100%   185.2   100%   127.7   100%  
                             
    Per customer type:                        
    IDM 71.9   56%   48.1   36%   61.2   50%   84.5   56%   122.4   66%   53.5   42%  
    Foundries/Subcontractors 56.1   44%   83.8   64%   60.7   50%   67.3   44%   62.8   34%   74.2   58%  
                             
    Total 128.0   100%   131.9   100%   121.9   100%   151.8   100%   185.2   100%   127.7   100%  
                             
    HEADCOUNT June 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024
                             
    Fixed staff (FTE) 1,831   88%   1,820   88%   1,812   93%   1,807   87%   1,783   86%   1,760   88%  
    Temporary staff (FTE) 239   12%   251   12%   134   7%   271   13%   279   14%   236   12%  
                             
    Total 2,070   100%   2,071   100%   1,946   100%   2,078   100%   2,062   100%   1,996   100%  
                             
    OTHER FINANCIAL DATA Q2-2025 Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                             
    Gross profit 93.7   63.3%   91.7   63.6%   98.2   64.0%   101.2   64.7%   98.3   65.0%   98.3   67.2%  
                             
                             
    Selling, general and admin expenses:                        
    As reported 30.6   20.7%   33.0   22.9%   28.6   18.6%   27.3   17.4%   30.5   20.2%   39.6   27.1%  
    Share-based compensation expense (4.3 )  -2.9%   (4.4 )  -3.1%   (2.9 )  -1.8%   (3.4 ) -2.1%   (6.9 ) -4.6%   (16.9 ) -11.6%  
                             
    SG&A expenses as adjusted 26.3   17.8%   28.6   19.8%   25.7   16.8%   23.9   15.3%   23.6   15.6%   22.7   15.5%  
                             
                             
    Research and development expenses:                        
    As reported 19.6   13.2%   19.5   13.5%   19.0   12.4%   18.9   12.1%   18.5   12.2%   17.9   12.2%  
    Capitalization of R&D charges 7.3   4.9%   6.7   4.6%   5.4   3.5%   4.4   2.8%   4.9   3.2%   4.7   3.2%  
    Amortization of intangibles (3.9 ) -2.6%   (3.7 ) -2.5%   (3.9 ) -2.5%   (3.9 ) -2.5%   (3.6 ) -2.3%   (3.6 ) -2.4%  
                             
    R&D expenses as adjusted 23.0   15.5%   22.5   15.6%   20.5   13.4%   19.4   12.4%   19.8   13.1%   19.0   13.0%  
                             
                             
    Financial expense (income), net:                        
    Interest income (3.4 )   (5.0 )   (5.1 )   (5.2 )   (3.0 )   (4.0 )  
    Interest expense 6.4     6.3     6.1     5.7     2.1     2.8    
    Net cost of hedging 2.3     1.8     2.0     1.9     1.4     1.6    
    Foreign exchange effects, net 0.4     (0.1 )   0.9     (0.8 )   0.5     0.2    
                             
    Total 5.7     3.0     3.9     1.6     1.0     0.6    
                             
                             
    Operating income (as % of net sales) 43.5   29.4%   39.3   27.2%   50.6   33.0%   55.1   35.2%   49.3   32.6%   40.7   27.8%  
                             
    EBITDA (as % of net sales) 50.9   34.4%   46.6   32.3%   58.0   37.8%   62.4   39.8%   56.2   37.2%   47.5   32.5%  
                             
    Net income (as % of net sales) 32.1   21.6%   31.5   21.9%   59.3   38.6%   46.8   29.9%   41.9   27.7%   34.0   23.2%  
                             
    Effective tax rate 15.2%     13.2%     -27.0%     12.6%     13.0%     15.3%    
                             
                             
    Income per share                        
    Basic 0.40     0.40     0.75     0.59     0.53     0.44    
    Diluted 0.40     0.40     0.74     0.59     0.53     0.44    
                             
    Average shares outstanding (basic) 79,184,703 79,228,071 79,402,192 79,630,787 79,281,533 77,181,326
                             
    Shares repurchased                        
    Amount 20.7     22.1     22.4     27.8     14.8     14.8    
    Number of shares 195,647 186,869  198,450  230,807  105,042  101,049 
                             
                             
    Gross cash 490.2     685.7     672.3     637.4     257.2     447.1    
                             
    Net cash (36.0 )   159.4     143.8     110.7     74.4     180.9    
                             

    The MIL Network –

  • MIL-Evening Report: Israel waging ‘horror show’ starvation campaign in Gaza, says UN chief

    This is Democracy Now!. I’m Amy Goodman.

    More than 100 humanitarian groups are demanding action to end Israel’s siege of Gaza, warning mass starvation is spreading across the Palestinian territory.

    The NGOs, including Amnesty International, Oxfam, Doctors Without Borders, warn, “illnesses like acute watery diarrhea are spreading, markets are empty, waste is piling up, and adults are collapsing on the streets from hunger and dehydration.”

    Their warning came as the Palestinian Ministry of Health said the number of starvation-related deaths has climbed to at least 111 people.

    This is Ghada al-Fayoumi, a displaced Palestinian mother of seven in Gaza City.

    GHADA AL-FAYOUMI: “[translated] My children wake up sick every day. What do I do? I get saline solution for them. What can I do?

    “There’s no food, no bread, no drinks, no rice, no sugar, no cooking oil, no bulgur, nothing. There is no kind of any food available to us at all.”

    AMY GOODMAN: Thousands of antiwar protesters marched on Tuesday in Tel Aviv outside Israel’s military headquarters, demanding an end to Israel’s assault and a lifting of the Gaza siege. This is Israeli peace activist Alon-Lee Green with the group Standing Together.

    ALON-LEE GREEN: “We are marching now in Tel Aviv, holding bags of flour and the pictures of these children that have been starved to death by our government and our army.

    “We demand to stop the starvation in Gaza. We demand to stop the annihilation of Gaza. We demand to stop the daily killing of children and innocent people in Gaza.

    “This cannot go on. We are Israelis, and this does not serve us. This only serves the Messianic people that lead us.”

    AMY GOODMAN: This comes as the World Health Organisation has released a video showing the Israeli military attacking WHO facilities in central Gaza’s Deir al-Balah. A WHO spokesperson condemned the attack, called for the immediate release of a staff member abducted by Israeli forces.

    TARIK JAŠAREVIĆ: “Male staff and family members were handcuffed, stripped, interrogated on the spot and screened at gunpoint.

    “Two WHO staff and two family members were detained.”

    AMY GOODMAN: Meanwhile, health officials in Gaza say Israeli attacks over the past day killed more than 70 people, including five more people seeking food at militarised aid sites. Amid growing outrage worldwide, UN Secretary-General António Guterres said on Tuesday the situation in Gaza right now is a “horror show”.

    UN SECRETARY-GENERAL ANTÓNIO GUTERRES: “We need look no further than the horror show in Gaza, with a level of death and destruction without parallel in recent times.

    “Malnourishment is soaring. Starvation is knocking on every door.”

    AMY GOODMAN: For more, we’re joined by Michael Fakhri, the UN Special Rapporteur on the Right to Food. He is a professor of law at University of Oregon, where he leads the Food Resiliency Project.


    Israel waging ‘fastest starvation campaign’ in modern history    Video: Democracy Now!

    Dr Michael Fakhri, welcome back to Democracy Now! If you can respond to what’s happening right now, the images of dying infants starving to death, the numbers now at over 100, people dropping in the streets, reporters saying they can’t go on?

    Agence France-Presse’s union talked about they have had reporters killed in conflict, they have had reporters disappeared, injured, but they have not had this situation before with their reporters starving to death.

    DR MICHAEL FAKHRI: Amy, the word “horror” — I mean, we’re running out of words of what to say. And the reason it’s horrific is it was preventable. We saw this coming. We’ve seen this coming for 20 months.

    Israel announced its starvation campaign back in October 2023. And then again, Prime Minister Netanyahu announced on March 1 that nothing was to enter Gaza. And that’s what happened for 78 days. No food, no water, no fuel, no medicine entered Gaza.

    And then they built these militarised aid sites that are used to humiliate, weaken and kill the Palestinians. So, what makes this horrific is it has been preventable, it was predictable. And again, this is the fastest famine we’ve seen, the fastest starvation campaign we’ve seen in modern history.

    AMY GOODMAN: So, can you talk about what needs to be done at this point and the responsibility of the occupying power? Israel is occupying Gaza right now. What it means to have to protect the population it occupies?

    DR FAKHRI: The International Court of Justice outlined Israel’s duties in its decisions over the last year. So, what Israel has an obligation to do is, first, end its illegal occupation immediately. This came from the court itself.

    Second, it must allow humanitarian relief to enter with no restrictions. And this hasn’t been happening. So, usually, we would turn to the Security Council to authorise peacekeepers or something similar to assist.

    But predictably, again, the United States keeps vetoing anything to do with a ceasefire. When the Security Council is in a deadlock because of a veto, the General Assembly, the UN General Assembly, has the authority to call for peacekeepers to accompany humanitarian convoys to enter into Gaza and to end Israel’s starvation campaign against the Palestinian people.

    AMY GOODMAN: People actually protested outside the house of UN Secretary-General António Guterres yesterday. People protested all over the world yesterday against the Palestinians being starved and bombed to death. Those in front of the UN Secretary-General’s house said they don’t dispute that he has raised this issue almost every day, but they say he can do more.

    Finally, Michael Fakhri, what does the UN need to do — the US, Israel, the world?

    DR FAKHRI: So, as I mentioned, first and foremost, they can authorise peacekeepers to enter to stop the starvation. But, second, they need to create consequences.

    The world has a duty to prevent this starvation. The world has a duty to prevent and end this genocide. And as a result, then, what the world can do is impose sanctions.

    And again, this is supported by the International Court of Justice. The world needs to impose wide-scale sanctions against the state of Israel to force it to end the starvation and genocide of civilians, of Palestinian civilians in Gaza today.

    AMY GOODMAN: Well, I want to thank you so much for being with us, Michael Fakhri, UN Special Rapporteur on the Right to Food, speaking to us from Eugene, Oregon.

    Article by AsiaPacificReport.nz

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Reserve Bank says unemployment rise was not a shock, inflation on track

    Source: The Conversation (Au and NZ) – By John Hawkins, Head, Canberra School of Government, University of Canberra

    Reserve Bank Governor Michele Bullock has fleshed out the central bank’s thinking behind its surprise decision to keep interest rates on hold this month.

    In a speech today to the Anika Foundation, Bullock said there has been:

    meaningful progress in bringing inflation down.

    But the Reserve Bank is waiting for confirmation that underlying inflation has actually moved back towards the mid-point of its 2% to 3% target band:

    We still think it will show inflation declining slowly towards 2.5%, but we are looking for data to support this expectation.

    The governor was pleased to see the progress on inflation did not come at the cost of jobs growth. Employment has remained around an all-time high as a proportion of the population. Comparable countries have not managed as well as this.

    The Reserve Bank has cut interest rates twice this year, and said policy is leaning towards further cuts by the end of the year.

    The dual mandate

    The Reserve Bank’s 2-3% inflation target is well known. But it is not the sole focus of policymakers. The bank actually has a dual mandate of inflation and employment, which was the topic of Bullock’s annual speech to Sydney’s financial community.

    The Reserve Bank Act charges the bank’s monetary policy board with setting monetary policy:

    in a way that, in the Board’s opinion, best contributes to:

    (i) price stability in Australia; and

    (ii) the maintenance of full employment in Australia.

    Full employment has been enshrined in legislation as a goal of the central bank since the 1940s.

    Last week, the monthly employment report unexpectedly showed a jump in unemployment to 4.3% in June after five months as 4.1% as more people looked for work.

    In her speech, Bullock said while some of the coverage suggested the increase was a shock, the employment figures over the whole of the June quarter were in line with the bank’s forecasts.

    She did not think it would have meant a different decision at the last board meeting if it had been known then.

    Are the twin goals in conflict or complementary?

    Some other central banks, such as the US Federal Reserve, also have dual mandates.

    In the long run, there is no conflict between these goals. In the governor’s words:

    Low and stable inflation – or price stability – is a prerequisite for strong and sustainable employment growth because it creates favourable conditions for households and businesses to plan, invest and create jobs without having to worry about inflation.

    Even in the short run, the two goals often involve no conflict. When the economy is overheating, inflation is high and unemployment low, so it is clear interest rates should be raised. During a recession, inflation is low and unemployment high, so it is clear interest rates should be lowered.

    But there are times when the implications from the two goals clash. A surge in oil prices, for example, could lead to both higher inflation (suggesting interest rates should be raised) and weaker economic activity (suggesting interest rates should be lowered).

    The governor said the bank’s response may depend on the likely longevity of such a shock:

    If a supply disruption is temporary and modest, monetary policy should mostly ‘look through’ it. Raising interest rates makes little sense if inflation is expected to ease once temporary supply disruptions are resolved – it would only weaken the job market.

    By contrast, when a supply shock is likely to have a longer lasting effect on the economy and inflation there may be stronger grounds for monetary policy to respond.

    The outlook

    In its latest published forecasts, in May, the bank said that if, as markets expected, it lowers its cash rate target to 3.4% by the end of the year, then unemployment would rise marginally, to 4.3%, while its preferred measure of underlying inflation drops to 2.6%.

    The Reserve Bank will release its updated forecasts after its next policy meeting on August 12, when it is also expected to cut interest rates.

    Better monthly inflation data on the way

    The Reserve Bank governor has made clear she regards the quarterly inflation series as a better guide than the current monthly series. At her May press conference she said:

    We get four readings on inflation a year.

    The Australian Bureau of Statistics has announced it is upgrading the monthly consumer price index (CPI) with effect from the October 2025 reading. It will then have the same coverage as the current quarterly CPI. But it will still be a more volatile measure than the quarterly.

    The bank will go through a learning experience becoming familiar with the new monthly series.



    Read more:
    Australia’s inflation rate is to go monthly. Be careful what you wish for

    John Hawkins was formerly a senior economist at the Reserve Bank.

    – ref. Reserve Bank says unemployment rise was not a shock, inflation on track – https://theconversation.com/reserve-bank-says-unemployment-rise-was-not-a-shock-inflation-on-track-261759

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: The Murray–Darling Basin Plan Evaluation is out. The next step is to fix the land, not just the flows

    Source: The Conversation (Au and NZ) – By Michael Stewardson, CEO One Basin CRC, The University of Melbourne

    Yarramalong Weir is one of many barriers to the passage of fish in the Murray-Darling Basin. Geoff Reid, One Basin CRC

    A report card into the A$13 billion Murray–Darling Basin Plan has found much work is needed to ensure the ecology of Australia’s largest river system is properly restored.

    The assessment, by the Murray–Darling Basin Authority, is the most comprehensive to date.

    The authority says the river system is doing better now than it would have without the plan, which aims to ensure sustainable water use for the environment, communities and industries. But it found there is more to be done.

    We are water, economics and environmental researchers with many years of experience working in the Murray-Darling Basin. We agree more work is needed, but with a more local focus, to restore the basin to health.

    This requires more than just more water for the environment. Coordinated local efforts to restore rivers and the surrounding land are desperately needed. There’s so much more to the river system than just the water it contains.

    Preparing for the 2026 Basin Plan Review (Murray–Darling Basin Authority)

    What’s the plan?

    The Murray-Darling Basin is Australia’s food bowl. But for too long, the health of environment was in decline – rivers were sick and wildlife was suffering. The river stopped flowing naturally to the sea because too much water was being taken from it.

    Poor land management has also degraded the river system over time. Floodplain vegetation has been damaged, the river channel has been re-engineered, and pest plants and animals have been introduced.

    The Murray-Darling Basin Plan was established in 2012. It aimed to recover water for the environment and safeguard the long-term health of the river system, while continuing to support productive agriculture and communities. It demanded more water for the environment and then described how this water would be delivered, in the form of targeted “environmental flows”.

    Since 2012, the allocation of water to various uses has gradually changed. So far, 2,069 billion litres (gigalitres) of surface water has been recovered for the environment. Combined with other earlier water recovery, a total of about 28% of water previously diverted for agriculture, towns and industry is now being used by the environment instead.

    A mixed report card

    The evaluation released today is the first step towards a complete review of the plan next year. The 2026 review will make recommendations to Environment and Water Minister Murray Watt. It will then be up to him to decide whether any changes are needed.

    It is a mixed report card. Ecological decline has been successfully halted at many sites. But sustained restoration of ecosystems across the basin is yet to be achieved, and native fish populations are in poor condition across 19 of the basin’s 23 catchments.

    Climate change is putting increasing pressure on water resources. More intense and frequent extreme climate events and an average 20–30% less streamflow (up to 50% in some rivers) are expected by mid-century.

    The evaluation also called for better policy and program design. Specifically, flexible programs have proven more effective than prescriptive, highly regulated programs.

    Finally, the report also highlights that the cost of water reform is increasing.

    Direct buybacks of water licences, mostly from irrigators, account for around two-thirds of the water recovered for the environment under the basin plan. Buybacks are the simplest and most cost-effective way to recover water but are controversial because of concerns about social and economic impacts.

    Much of the remaining water has been recovered through investment in more efficient water supply infrastructure, with water savings reserved for environmental use.

    The authority suggests different approaches will be needed for additional water recovery.

    Having plenty of native vegetation on river banks is important for river health.
    Geoff Reid, One Basin CRC

    Healthy rivers need more than water

    For the past two decades, measures to restore the Murray-Darling Basin have focused largely on water recovery. But research suggests attention now needs to be paid to other, more local actions.

    In March, one author of this article – Samantha Capon – identified nine priority actions to restore Australia’s inland river and groundwater ecosystems at local levels. They included:

    • revegetating land alongside waterways
    • retiring some farmland
    • modifying barriers to fish movements
    • installing modern fish screens on irrigation pumps.

    The study estimated such actions would cost around A$2.9 billion a year, if completed over the next 30 years.

    Works to restore vegetation or other environmental conditions at these critical habitats will only occur with landholders, as well as Traditional Owners.

    That’s because most of the basin’s wetlands and floodplain areas are on private property, including in irrigation districts.

    Irrigator involvement is needed to place fish screens on private irrigation pumps or retire farmland. There is a growing interest and some early experience in using private irrigation channels to deliver environmental water. This also requires local partnerships.

    The basin plan should include targets for environmental outcomes, not just water recovery. This will allow the benefits from local restoration measures and environmental flows to be included when tracking the plan.

    Such ecosystem accounting tools already exist. Research is urgently needed to make these tools both locally relevant and suitable for the basin plan.

    Time for a local approach

    To date, water for the environment under the basin plan has been recovered largely through centralised government-led programs. Decisions around the delivery of environmental flows are also largely in the hands of government agencies.

    But other local restoration actions are also needed.

    A business-as-usual approach would leave responsible agencies struggling to complete these vital local measures with limited funding, resources and accountability.

    Michael Stewardson is a member of the Advisory Committee on Social, Economic and Environmental Science, which advises the Murray Darling Basin Authority,, although he is not representing the views of this committee in this article. The committee is established under Section 203 of the Water Act 2007.
    Michael Stewardson is the CEO of the One Basin CRC, which is jointly funded under the commonwealth Cooperative Research Centre Program and by its partners listed here: https://onebasin.com.au/
    These partners include: state and federal government agencies including the Murray Darling Basin Authority; irrigation infrastructure operators (government owned and non-government), natural resource management agencies (government and non-government); agriculture businesses, industry organisation and R&D organisations; local government organisations; consulting companies in the water sector; technology companies; education and training organisations; and research organisation. Partners contribute to the One Basin CRC in the form of in-kind and cash contributions. The One Basin CRC is also funded by the Commonwealth Environmental Water Office under its FlowMER program. The views in this article do not necessarily represent the views of these partner and funding organisations.
    Michael Stewardson has previously received research funding from the Australian Research Council and both state and federal government agencies.

    Neville Crossman is a Program Leader for Adaptation and Innovation in the One Basin CRC. He is a past employee of the Murray-Darling Basin Authority (2018-2024). He has worked closely with a range of State and federal government agencies and many researchers, industry and community members in the Murray-Darling Basin throughout his career.

    Samantha Capon receives funding from the federal Department of Climate Change, Energy Efficiency, the Environment and Water (DCCEEW), NSW DCCEEW, the Cotton Research and Development Corporation. She is a member of the Murray-Darling Basin Authority’s Advisory Committee for Social, Economic and Environmental Science (ACSEES), but is not representing the view of this committee in this article. Samantha has worked closely with NRM agencies, a range of State and federal government agencies and many researchers, industry and community members in the Murray-Darling Basin throughout her career.

    Seth Westra is the Research Director for the One Basin CRC. He receives funding from the federal Department of Climate Change, Energy Efficiency, the Environment and Water (DCCEEW), NSW DCCEEW and the South Australian Department for Environment and Water (DEW). Seth is Research Director of the One Basin Cooperative Research Centre, Director of the Systems Cooperative, and has worked closely with NRM agencies, a range of State and federal government agencies and many researchers, industry and community members in the Murray-Darling Basin throughout his career.

    – ref. The Murray–Darling Basin Plan Evaluation is out. The next step is to fix the land, not just the flows – https://theconversation.com/the-murray-darling-basin-plan-evaluation-is-out-the-next-step-is-to-fix-the-land-not-just-the-flows-261840

    MIL OSI Analysis – EveningReport.nz –

  • EU’s von der Leyen says China ties are at ‘inflection point’ at tense summit

    Source: Government of India

    Source: Government of India (4)

    European Commission President Ursula von der Leyen called for an “essential” rebalancing of trade ties with China during a tense summit on Thursday with President Xi Jinping, saying ties stood at an “inflection point”, according to a pool report.

    Expectations were low for the summit marking 50 years of diplomatic ties after weeks of escalating tension and wrangling over its format, with the duration abruptly halved to a single day at Beijing’s request.

    Von der Leyen and European Council President Antonio Costa met Xi at the start of an event set to be dominated by thorny issues ranging from trade frictions to the Ukraine war.

    “As our cooperation has deepened, so have imbalances. We have reached an inflection point,” von der Leyen told Xi during the meeting in the Great Hall of the People.

    She was referring to the EU’s trade deficit with China, which ballooned to a historic 305.8 billion euros ($360 billion) last year.

    “Rebalancing of our bilateral relation is essential … It is vital for China and Europe to acknowledge our respective concerns and come forward with real solutions.”

    However, Xi urged the EU to “make correct strategic choices” during the meeting, state broadcaster CCTV said, in a veiled criticism of Brussels’ hawkish stance on China.

    “The more severe and complex the international situation, the more China and the EU must strengthen communication, enhance mutual trust and deepen cooperation,” Xi told von der Leyen and Costa, it said.

    “Chinese and European leaders should … make correct strategic choices that meet the expectations of the people.”

    The weeks before the summit were dominated by tit-for-tat trade disputes and hawkish European rhetoric, such as a July 8 accusation by von der Leyen that China was flooding global markets as a result of its overcapacity and “enabling Russia’s war economy”.

    Shortly before the summit, however, von der Leyen struck a more conciliatory tone, describing it as an opportunity to “both advance and rebalance our relationship” in a post on X on Thursday.

    “I’m convinced there can be a mutually beneficial cooperation,” von der Leyen added.

    The two EU officials are set to meet Chinese Premier Li Qiang later. Both sides are hoping to reach a modest joint statement on climate, currently one of the only bright spots in EU-China cooperation.

    State news agency Xinhua also appeared to downplay Beijing’s rivalry with the 27-member bloc, saying China was a “critical partner” for Europe, with a range of shared interests.

    “China is a critical partner to Europe, not a systemic rival,” it said in a commentary.

    The two shared interests in trade, climate, and global governance, it said, adding, “These areas of common ground should not be eclipsed by isolated points of friction.”

    The EU defines China as a “partner, competitor and systemic rival”, which frames its strategic approach to China policy.

    At the summit, European leaders are also expected to raise topics such as electric vehicles and Chinese industrial overcapacity.

    China launched rare earth export controls in April that disrupted supply chains worldwide, leading to temporary stoppages in European automotive production lines the following month.

    But its exports of rare earth magnets to the EU surged in June by 245% from May, to stand at 1,364 metric tons, though that was still 35% lower than the year-earlier figure, customs data showed.

    The EU is likely to seal a trade deal with the United States for a broad tariff of 15% on its exports after intense negotiations, avoiding a harsher 30% figure threatened by President Donald Trump.

    (Reuters)

  • Israeli strike kills hungry Gaza family in their sleep

    Source: Government of India

    Source: Government of India (4)

    The Al-Shaer family went to bed hungry at their home in Gaza City. An Israeli airstrike killed them in their sleep.

    The family – freelance journalist Wala al-Jaabari, her husband and their five children – were among more than 100 people killed in 24 hours of Israeli strikes or gunfire, according to health officials.

    Their corpses lay in white shrouds outside their bombed home on Wednesday with their names scribbled in pen. Blood seeped through the shrouds as they lay there, staining them red.

    “This is my cousin. He was 10. We dug them out of the rubble,” Amr al-Shaer, holding one of the bodies after retrieving it.

    Iman al-Shaer, another relative who lives nearby, said the family hadn’t eaten anything before the bombs came down. “The children slept without food,” he said.

    The Israeli military did not immediately comment on the strike at the family’s home, but said its air force had struck 120 targets throughout Gaza in the past day, including “terrorist cells, military structures, tunnels, booby-trapped structures, and additional terrorist infrastructure sites”.

    Relatives said some neighbours were spared only because they had been out searching for food at the time of the strike.

    Ten more Palestinians died overnight from starvation, the Gaza health ministry said, bringing the total number of people who have starved to death to 111, most of them in recent weeks as a wave of hunger crashes on the Palestinian enclave.

    The World Health Organization said on Wednesday 21 children under the age of five were among those who died of malnutrition so far this year. It said it had been unable to deliver any food for nearly 80 days between March and May and that a resumption of food deliveries was still far below what is needed.

    In a statement on Wednesday, 111 organisations, including Mercy Corps, the Norwegian Refugee Council and Refugees International, said mass starvation was spreading even as tons of food, clean water and medical supplies sit untouched just outside Gaza, where aid groups are blocked from accessing them.

    Israel, which cut off all supplies to Gaza from the start of March and reopened it with new restrictions in May, says it is committed to allowing in aid but must control it to prevent it from being diverted by militants. It says it has let enough food into Gaza during the war and blames Hamas for the suffering of Gaza’s 2.2 million people.

    Israel has also accused the United Nations of failing to act in a timely fashion, saying 700 truckloads of aid are idling inside Gaza. “It is time for them to pick it up and stop blaming Israel for the bottlenecks which are occurring,” Israeli government spokesman David Mercer said on Wednesday.

    The United Nations and aid groups trying to deliver food to Gaza say Israel, which controls everything that comes in and out, is choking delivery, and Israeli troops have shot hundreds of Palestinians dead close to aid collection points since May.

    “We have a minimum set of requirements to be able to operate inside Gaza,” Ross Smith, the director of emergencies at the U.N. World Food Programme, told Reuters. “One of the most important things I want to emphasize is that we need to have no armed actors near our distribution points, near our convoys.”

    Israel’s U.N. Ambassador Danny Danon told the Security Council on Wednesday that Israel will now grant only one-month visas to international staff from the United Nations Office for the Coordination of Humanitarian Affairs.

    FALTERING PEACE TALKS

    The war between Israel and Hamas has been raging for nearly two years since Hamas killed some 1,200 Israelis and took 251 hostages from southern Israel in the deadliest attack in Israel’s history.

    Israel has since killed nearly 60,000 Palestinians in Gaza, decimated Hamas as a military force, reduced most of the territory to ruins and forced nearly the entire population to flee their homes multiple times.

    U.S. Middle East peace envoy Steve Witkoff is expected to hold new ceasefire talks, travelling to Europe this week for meetings on the Gaza war and a range of other issues, a U.S. official said on Tuesday.

    A Palestinian official close to the Gaza ceasefire talks and the mediation efforts told Reuters on Wednesday that Hamas had handed its response on the ceasefire proposal to mediators, declining to elaborate further.

    Talks on a proposal for a 60-day ceasefire between Israel and Hamas, which would include the release of more of the 50 hostages still being held in Gaza, are being mediated by Qatar and Egypt with Washington’s backing.

    Successive rounds of negotiations have achieved no breakthrough since the collapse of a ceasefire in March.

    Israel’s President Isaac Herzog told soldiers during a visit to Gaza on Wednesday that “intensive negotiations” about returning the hostages held there were underway and he hoped that they would soon “hear good news”, according to a statement.

    A senior Palestinian official earlier told Reuters Hamas might give mediators a response to the latest proposals in Doha later on Wednesday, on the condition that amendments be made to two major sticking points: details on an Israeli military withdrawal, and on how to distribute aid during a truce.

    Israeli Prime Minister Benjamin Netanyahu’s cabinet includes far-right parties that oppose any agreement that ends without the total destruction of Hamas.

    “The second I spot weakness in the prime minister and if I come to think, heaven forbid, that this is about to end with us surrendering instead of with Hamas’s absolute surrender, I won’t remain (in the government) for even a single day,” Finance Minister Belalel Smotrich told Army Radio.

    (Reuters)

  • Thailand F-16 jet deployed against Cambodian forces as border clash escalates

    Source: Government of India

    Source: Government of India (4)

    A Thai F-16 fighter jet bombed targets in Cambodia on Thursday, both sides said, as weeks of tension over a border dispute escalated into clashes that have killed at least two civilians.

    Of the six F-16 fighter jets that Thailand readied to deploy along the disputed border, one of the aircraft fired into Cambodia and destroyed a military target, the Thai army said. Both countries accused each other of starting the clash early on Thursday.

    “We have used air power against military targets as planned,” Thai army deputy spokesperson Richa Suksuwanon told reporters. Thailand also closed its border with Cambodia.

    Cambodia’s defence ministry said the jets dropped two bombs on a road, and that it “strongly condemns the reckless and brutal military aggression of the Kingdom of Thailand against the sovereignty and territorial integrity of Cambodia”.

    The skirmishes came after Thailand recalled its ambassador to Cambodia late on Wednesday and said it would expel Cambodia’s envoy in Bangkok, after a second Thai soldier in the space of a week lost a limb to a landmine that Bangkok alleged had been laid recently in the disputed area.

    Thai residents in the Surin border province fled to shelters built of concrete and fortified with sandbags and car tires as the two countries exchanged fire.

    “How many rounds have been fired? It’s countless,” an unidentified woman told the Thai Public Broadcasting Service (TPBS) while hiding in the shelter with gunfire and explosions heard intermittently in the background.

    For more than a century, Thailand and Cambodia have contested sovereignty at various undemarcated points along their 817 km (508 miles) land border, which has led to skirmishes over several years and at least a dozen deaths, including during a weeklong exchange of artillery in 2011.

    Tensions were reignited in May following the killing of a Cambodian soldier during a brief exchange of gunfire, which escalated into a full-blown diplomatic crisis and now has triggered armed clashes.

    LANDMINES

    The clashes began early on Thursday near the disputed Ta Moan Thom temple along the eastern border between Cambodia and Thailand, around 360 km from the Thai capital Bangkok.

    “Artillery shell fell on people’s homes,” Sutthirot Charoenthanasak, district chief of Kabcheing in Surin province, told Reuters, describing the firing by the Cambodian side.

    “Two people have died,” he said, adding that district authorities had evacuated 40,000 civilians from 86 villages near the border to safer locations.

    Thailand’s military said Cambodia deployed a surveillance drone before sending troops with heavy weapons to an area near the temple.

    Cambodian troops opened fire and two Thai soldiers were wounded, a Thai army spokesperson said, adding Cambodia had used multiple weapons, including rocket launchers.

    A spokesperson for Cambodia’s defence ministry, however, said there had been an unprovoked incursion by Thai troops and Cambodian forces had responded in self-defence.

    Thailand’s acting Prime Minister Phumtham Wechayachai said the situation was delicate.

    “We have to be careful,” he told reporters. “We will follow international law.”

    An attempt by Thai premier Paetongtarn Shinawatra to resolve the recent tensions via a call with Cambodia’s influential former Prime Minister Hun Sen, the contents of which were leaked, kicked off a political storm in Thailand, leading to her suspension by a court.

    Hun Sen said in a Facebook post that two Cambodian provinces had come under shelling from the Thai military.

    Thailand this week accused Cambodia of placing landmines in a disputed area that injured three soldiers. Phnom Penh denied the claim and said the soldiers had veered off agreed routes and triggered a mine left behind from decades of war.

    Cambodia has many landmines left over from its civil war decades ago, numbering in the millions according to de-mining groups.

    But Thailand maintains landmines have been placed at the border area recently, which Cambodia has described as baseless allegations.

    (Reuters) 

  • MIL-OSI China: Hugo Ekitike: Liverpool sign Frankfurt striker

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

    Premier League champion Liverpool continued a big-spending summer with the signing of striker Hugo Ekitike from Eintracht Frankfurt for an initial fee of 79 million pounds (106 million US dollars).

    “We have reached an agreement for the transfer of Eintracht Frankfurt forward Hugo Ekitike, subject to international clearance,” announced Liverpool’s social media sites on Wednesday.

    Hugo Ekitike (R) of Eintracht Frankfurt vies with Cristian Romero of Tottenham Hotspur during the UEFA Europa League quarterfinals 2nd leg match in Frankfurt, Germany, April 17, 2025. (Photo by Ulrich Hufnagel/Xinhua)

    “The 23-year-old has successfully completed a medical and agreed personal terms with the Reds, allowing him to fly out to Hong Kong to join his new teammates on their preseason tour of Asia later this week,” the club added.

    Ekitike is the fourth major signing of the summer for Arne Slot’s side, following the capture of Florian Wirtz for over 110 million pounds and defenders Milos Kerkez and Jeremie Frimpong.

    The 23-year-old Frenchman, who can play across the front line, joins Anfield after scoring 22 goals in 48 appearances last season, along with more than a dozen assists.

    Liverpool has spent over 250 million pounds this summer, although they are likely to recoup some of that if Luis Diaz completes a move to Bayern Munich in a deal worth more than 60 million pounds. Darwin Nunez also appears likely to leave, and Federico Chiesa has been left out of Liverpool’s preseason squad for the Asia tour, suggesting he may also be on his way out. 

    MIL OSI China News –

  • MIL-OSI China: Barcelona confirm Marcus Rashford loan signing

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

    FC Barcelona confirmed the loan signing of England international forward Marcus Rashford from Manchester United on Wednesday with a video in which the player said the news was “official.”

    Rashford joins the La Liga and Copa del Rey champion on an initial one-season loan, with Barcelona having the option to make the move permanent for around 35 million euros. However, there is also a clause that means the club has to pay compensation if it opts against this.

    Manchester United’s Marcus Rashford (L) breaks through during the FA Cup quarterfinal match between Manchester United and Liverpool in Manchester, Britain, on March 17, 2024. (Xinhua)

    “What the club stands for means a lot for me. I feel like I am at home and a big factor in my choice to come here because it is a family place and a good place for good players to showcase their skills,” said Rashford at his presentation.

    “To be here is everything I wished and thought. I’m eager to get going and keep learning the Barcelona way as I go and be ready for the games,” he continued, adding that the chance to work with Barca coach Hansi Flick was another key reason for his decision.

    “What he did last season was terrific. In his career he’s proved he’s one of the top coaches, to lead such a young team to a very successful season,” commented the forward.

    The 27-year-old, who passed his medical tests in Barcelona on Monday, is rumored to have taken a 15 percent pay cut in order to complete the move after falling out of favor with United coach Ruben Amorim last season and spending the second half of the campaign on loan at Aston Villa.

    He will now form part of the squad that travels to Asia on Thursday to play matches in both South Korea and Japan.

    Rashford’s signing at Barcelona comes after the club suffered an embarrassing failure to sign Spain international Nico Williams from Athletic Bilbao for the second consecutive summer, with Williams opting to sign a new contract with Athletic.

    Meanwhile, efforts to bring in Colombian winger Luis Diaz were frustrated by Barca’s economic situation, which made it impossible for the club to get close to Liverpool’s demands.

    Rashford becomes the first English player to join FC Barcelona since Gary Lineker was at the club between 1986-1989 and only the second Englishman to play for them in over 100 years, with Harold Stamper the last previous Englishman after a season at Barcelona between 1922 and 1923.

    MIL OSI China News –

  • MIL-OSI China: Poland edge China to reach Women’s VNL semifinals

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

    Host Poland battled past China in a thrilling five-set quarterfinal, winning 17-25, 25-20, 19-25, 25-19, 15-12 in the FIVB Women’s Volleyball Nations League (VNL) on Wednesday evening in Lodz to secure a spot in the semifinals.

    Opposite hitter Magdalena Stysiak led the Polish side with 25 points, including 22 kills and three blocks. Outside hitter Martyna Czyrnianska added 16 points. For China, outside hitter Wu Mengjie delivered an impressive performance with a match-high 25 points, while Zhuang Yushan added 20.

    Coming off a 3-1 victory over China in a friendly on Saturday, Poland entered the match as slight favorites. However, it was China who came out strong in the opening set, fueled by Wu’s sharp attacks. She scored 10 points in the set, helping China establish a 19-14 lead before closing it out 25-17.

    China continued their momentum early in the second set, taking a 5-2 advantage after a spike from Chen Houyu. But Poland rallied back, drawing level at 14-14 thanks to a powerful attack from Martyna Lukasik. Momentum shifted in favor of the hosts as Czyrnianska registered a key block and Stysiak added timely offense to push Poland ahead. Lukasik sealed the set with back-to-back spikes, giving Poland a 25-20 win.

    In the third set, China capitalized on a string of unforced errors from Poland to race ahead 13-5. Maintaining their advantage throughout, China regained the lead in sets with a 25-19 win.

    The fourth set saw Poland respond with renewed energy. Paulina Damaske’s spike and service ace helped the home team build an 18-12 cushion. Although China fought back to narrow the gap to 21-19, Poland surged with four straight points to take the set 25-19, forcing a decider.

    In the tiebreak, Poland met the expectations of their home crowd at Atlas Arena. A block from Stysiak and another strong finish from Damaske gave them a 7-4 lead. Though China closed the deficit to 10-9 after a Stysiak error, Damaske delivered a key solo block to make it 13-10 and later sealed the match with a powerful spike, clinching the final set 15-12.

    “It was a tough challenge. We struggled during the match, so we’re very happy with the victory,” said Polish setter Alicja Grabka in a post-match interview with Polsat TV. “We overcame a difficult situation as we were behind. For me, playing in that kind of match was a dream come true. I’m very proud I could help the team.”

    Earlier in the day, Italy advanced to the semifinals after sweeping the United States 3-0 (25-22, 25-21, 28-26). Opposite spiker Paola Egonu starred with a match-high 20 points, while Avery Skinner led the Americans with 11.

    The remaining quarterfinal matchups will take place on Thursday, with Japan facing Turkiye and Brazil taking on Germany.

    MIL OSI China News –