Category: Asia Pacific

MIL-OSI Banking: President of the Democratic Republic of Timor-Leste holds Interface with Secretary-General of ASEAN and the Committee of Permanent Representatives to ASEAN

Source: ASEAN

Secretary-General of ASEAN, Dr. Kao Kim Hourn, together with the Committee of the Permanent Representatives to ASEAN (CPR) and the Ambassador of Timor-Leste to ASEAN, held an Interface with H.E. José Ramos-Horta, President of the Democratic Republic of Timor-Leste, at the ASEAN Headquarters/ASEAN Secretariat.

The Interface underscored Timor-Leste’s unwavering commitment to the work of ASEAN, particularly towards ASEAN Community-building and regional integration efforts. Secretary-General Dr. Kao reaffirmed the ASEAN Secretariat’s support to Timor-Leste in its efforts to be the 11th member of ASEAN in October of this year.

The post President of the Democratic Republic of Timor-Leste holds Interface with Secretary-General of ASEAN and the Committee of Permanent Representatives to ASEAN appeared first on ASEAN Main Portal.

MIL OSI Global Banks –

August 5, 2025

MIL-OSI: TransAlta Reports Strong Second Quarter 2025 Results, Advancement of Strategic Priorities and Reaffirms Guidance

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, Aug. 01, 2025 (GLOBE NEWSWIRE) — TransAlta Corporation (TransAlta or the Company) (TSX: TA) (NYSE: TAC) today reported its financial results for the second quarter ended June 30, 2025.

“Our strong second quarter results illustrate the value of our diversified fleet and exceptional operational performance. Our Alberta portfolio’s hedging strategy and active asset optimization continued to generate realized prices well above spot prices while environmental credits generated by our hydro and wind assets significantly offset our gas fleet’s carbon price compliance obligation. While we continue to navigate a challenging Alberta price environment, our assets continue to perform well, and we remain confident in achieving our 2025 Outlook,” said John Kousinioris, President and Chief Executive Officer.

“Our team remains focused on advancing our strategic priorities. We are pleased with the progress on our Alberta data centre strategy and the associated negotiations, which now reflect the Alberta Electric System Operator’s (AESO) approach to large load integration. The AESO currently expects Demand Transmission Service contracts to be executed in mid-September, which will secure each proponent’s access to system capacity. We continue to work closely with our counterparties and are progressing towards the execution of a data centre memorandum of understanding in relation to our system capacity allocation,” added Mr. Kousinioris.

“Finally, we continue to progress negotiations on conversion opportunities at Centralia and are working towards executing a definitive agreement later this year with our customer for the full capacity of Centralia Unit 2.”

Second Quarter 2025 Highlights

Achieved strong operational availability of 91.6 per cent in 2025, compared to 90.8 per cent in 2024
Adjusted EBITDA⁽¹⁾ of $349 million, compared to $316 million for the same period in 2024
Free Cash Flow (FCF)⁽¹⁾ of $177 million, or $0.60 per share, remained consistent with the same period in 2024
Adjusted earnings before income taxes⁽¹⁾ of $122 million, or $0.41 per share, compared to $112 million, or $0.37 per share, for the same period in 2024
Cash flow from operating activities of $157 million, or $0.53 per share, compared to $108 million, or $0.36 per share, from the same period in 2024
Net loss attributable to common shareholders⁽¹⁾ of $112 million, or $0.38 per share, compared to net earnings attributable to common shareholders of $56 million, or $0.18 per share, for the same period in 2024

Second Quarter 2025 Operational and Financial Highlights

$ millions, unless otherwise stated	Three Months Ended			Six Months Ended
$ millions, unless otherwise stated	June 30, 2025		June 30, 2024	June 30, 2025		June 30, 2024
Operational information
Availability (%)	91.6		90.8	93.3		91.5
Production (GWh)	4,813		4,781	11,645		10,959
Select financial information
Revenues	433		582	1,191		1,529
Adjusted EBITDA⁽¹⁾	349		316	619		658
Adjusted earnings before income taxes⁽¹⁾	122		112	150		256
(Loss) earnings before income taxes	(95	)	94	(46	)	361
Adjusted net earnings after taxes attributable to common shareholders⁽¹⁾	54		70	84		197
Net (loss) earnings attributable to common shareholders	(112	)	56	(66	)	278
Cash flows
Cash flow from operating activities	157		108	164		352
Funds from operations⁽¹⁾	252		236	431		490
Free cash flow⁽¹⁾	177		177	316		398
Per share
Adjusted net earnings attributable to common shareholders per share⁽¹⁾	0.18		0.23	0.28		0.64
Net (loss) earnings per share attributable to common shareholders, basic and diluted	(0.38	)	0.18	(0.22	)	0.91
Cash flow from operating activities per share	0.53		0.36	0.55		1.15
Funds from operations per share⁽¹⁾	0.85		0.78	1.45		1.60
FCF per share⁽¹⁾	0.60		0.58	1.06		1.30
Dividends declared per common share	—		0.06	0.07		0.06
Weighted average number of common shares outstanding	297		303	297		306

Segmented Financial Performance

$ millions	Three Months Ended				Six Months Ended
$ millions	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Hydro	126		83		173		170
Wind and Solar	89		88		191		177
Gas	128		142		232		267
Energy Transition	19		2		56		29
Energy Marketing	26		39		47		78
Corporate	(39	)	(38	)	(80	)	(63	)
Total adjusted EBITDA⁽¹⁾⁽²⁾	349		316		619		658
Adjusted earnings before income taxes⁽¹⁾	122		112		150		256
(Loss) earnings before income taxes	(95	)	94		(46	)	361
Adjusted net earnings attributable to common shareholders⁽¹⁾	54		70		84		197
Net (loss) earnings attributable to common shareholders	(112	)	56		(66	)	278

Key Business Developments

Credit Facility Extension

On July 16, 2025, the Company executed agreements to extend committed credit facilities totalling $2.1 billion with a syndicate of lenders. The revised agreements extend the maturity dates of the syndicated credit facility from June 30, 2028 to June 30, 2029 and the bilateral credit facilities from June 30, 2026 to June 30, 2027.

Divestiture of Poplar Hill

During the second quarter of 2025, the Company signed an agreement for the divestiture of the 48 MW Poplar Hill asset, as required by the consent agreement with the federal Competition Bureau and pursuant to the terms of the acquisition of Heartland Generation. Energy Capital Partners will be entitled to receive the proceeds from the sale of Poplar Hill, net of certain adjustments, following completion of the divestiture.

Recontracting of Ontario Wind Facilities

During the second quarter of 2025, the Company successfully recontracted its Melancthon 1, Melancthon 2 and Wolfe Island wind facilities through the Ontario Independent Electricity System Operator Five-Year Medium-Term 2 Energy Contract (MT2e). MT2e will replace current energy contracts for the three wind facilities when they expire, extending the contract dates until April 30, 2031, for Melancthon 1 and April 30, 2034, for Melancthon 2 and Wolfe Island.

Normal Course Issuer Bid (NCIB)

On May 27, 2025, the Company announced that it had received approval from the Toronto Stock Exchange to repurchase up to a maximum of 14 million common shares during the 12-month period that commenced May 31, 2025 and will terminate on May 30, 2026.

On Feb. 19, 2025, the Company announced it was allocating up to $100 million to be returned to shareholders in the form of share repurchases.

During the six months ended June 30, 2025, the Company purchased and cancelled a total of 1,932,800 common shares at an average price of $12.42 per common share, for a total cost of $24 million, including taxes.

Conference call and webcast

TransAlta will host a conference call and webcast at 9:00 a.m. MST (11:00 a.m. EST) today, August 1, 2025, to discuss our second quarter 2025 results. The call will begin with comments from John Kousinioris, President and Chief Executive Officer, and Joel Hunter, EVP Finance and Chief Financial Officer, followed by a question-and-answer period.

Second Quarter 2025 Conference Call

Webcast link: https://edge.media-server.com/mmc/p/zpy9addj

To access the conference call via telephone, please register ahead of time using the call link here: https://register-conf.media-server.com/register/BI215de673b3704e0da46b2a02e0f35bb0. Once registered, participants will have the option of 1) dialing into the call from their phone (via a personalized PIN); or 2) clicking the “Call Me” option to receive an automated call directly to their phone.

If you are unable to participate in the call, the replay will be accessible at https://edge.media-server.com/mmc/p/zpy9addj. A transcript of the broadcast will be posted on TransAlta’s website once it becomes available.

Related Materials

Related materials, including the consolidated financial statements and Management’s Discussion and Analysis (MD&A) will be available on the Investor Centre section of TransAlta’s website at https://transalta.com/investors/presentations-and-events/ and https://transalta.com/investors/results-reporting/ and have been filed under TransAlta Corporation’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov.

Notes

1. These items (Adjusted EBITDA, adjusted earnings (loss) before income taxes, adjusted net earnings (loss) after income taxes attributable to common shareholders, funds from operations, free cash flow, adjusted net earnings attributable to common shareholders per share, funds from operations (FFO) per share and free cash flow (FCF) per share) are non-IFRS measures, which are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Presenting these items from period to period provides management and investors with the ability to evaluate earnings (loss) trends more readily in comparison with prior periods’ results. Please refer to the Non-IFRS financial measures section of this earnings release for further discussion of these items, including, where applicable, reconciliations to measures calculated in accordance with IFRS.
2. During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this earnings release.

Non-IFRS financial measures

We use a number of financial measures to evaluate our performance and the performance of our business segments, including measures and ratios that are presented on a non-IFRS basis, as described below. Unless otherwise indicated, all amounts are in Canadian dollars and have been derived from our consolidated financial statements prepared in accordance with IFRS. We believe that these non-IFRS amounts, measures and ratios, read together with our IFRS amounts, provide readers with a better understanding of how management assesses results.

Non-IFRS amounts, measures and ratios do not have standardized meanings under IFRS. They are unlikely to be comparable to similar measures presented by other companies and should not be viewed in isolation from, as an alternative to, or more meaningful than, our IFRS results.

We calculate adjusted measures by adjusting certain IFRS measures for certain items we believe are not reflective of our ongoing operations in the period. Except as otherwise described, these adjusted measures are calculated on a consistent basis from period to period and are adjusted for specific items in each period, unless stated otherwise.

Adjusted EBITDA

Each business segment assumes responsibility for its operating results measured by adjusted EBITDA. Adjusted EBITDA is an important metric for management that represents our core operational results.

During the first quarter of 2025, our adjusted EBITDA composition was amended to remove the impact of realized gain (loss) on closed exchange positions, which was included in adjusted EBITDA composition until the fourth quarter of 2024. The adjustment was intended to explain a timing difference between our internally and externally reported results and was useful at a time when markets were more volatile. The impact of realized gain (loss) on closed exchange positions was removed to simplify our reporting. Accordingly, the Company has applied this composition to all previously reported periods.

During the first quarter of 2025, our adjusted EBITDA composition was amended to remove the impact of Australian interest income, which was included in adjusted EBITDA composition until the fourth quarter of 2024. Initially, on the commissioning of the South Hedland facility in July 2017, we prepaid approximately $74 million of electricity transmission and distribution costs. Interest income, which was recorded on the prepaid funds, was reclassified as a reduction in the transmission and distribution costs expensed each period to reflect the net cost to the business. The impact of Australian interest income was removed to simplify our reporting since the amounts were not material. Accordingly, the Company has applied this composition to all previously reported periods.

Interest, taxes, depreciation and amortization are not included, as differences in accounting treatment may distort our core business results. In addition, certain reclassifications and adjustments are made to better assess results, excluding those items that may not be reflective of ongoing business performance. This presentation may facilitate the readers’ analysis of trends. The most directly comparable IFRS measure is earnings before income taxes.

Adjusted Revenue

Adjusted Revenues is Revenues (the most directly comparable IFRS measure) adjusted to exclude:

The impact of unrealized mark-to-market gains or losses and unrealized foreign exchange gains or losses on commodity transactions.

Certain assets that we own in Canada and Western Australia are fully contracted and recorded as finance leases under IFRS. We believe that it is more appropriate to reflect the payments we receive under the contracts as a capacity payment in our revenues instead of as finance lease income and a decrease in finance lease receivables.

Revenues from the Planned Divestitures as they do not reflect ongoing business performance.

Adjusted Fuel and Purchased Power

Adjusted Fuel and Purchased Power is Fuel and Purchased Power (the most directly comparable IFRS measure) adjusted to exclude fuel and purchased power from the Planned Divestitures as it does not reflect ongoing business performance.

Adjusted Gross Margin

Adjusted gross margin is calculated as adjusted revenues less adjusted fuel and purchased power and carbon compliance costs, where adjustments to revenue or fuel and purchased power were applied as stated above. The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment. The most directly comparable IFRS measure is gross margin in the consolidated statement of earnings.

Adjusted OM&A

Adjusted OM&A is OM&A (the most directly comparable IFRS measure) adjusted to exclude:

Acquisition-related transaction and restructuring costs, mainly comprised of severance, legal and consultant fees as these do not reflect ongoing business performance.

ERP integration costs representing planning, design and integration costs of upgrades to the existing ERP system as they represent project costs that do not occur on a regular basis, and therefore do not reflect ongoing performance.

OM&A from the Planned Divestitures as it does not reflect ongoing business performance.

Adjusted Net Other Operating Income

Adjusted Net Other Operating Income is Net Other Operating Income (the most directly comparable IFRS measure) adjusted to exclude insurance recoveries related to the Kent Hills replacement costs of the tower collapse as these relate to investing activities and are not reflective of ongoing business performance.

Adjustments to Earnings (Loss) in Addition to Interest, Taxes, Depreciation and Amortization

Fair value change in contingent consideration payable is not included as it is not reflective of ongoing business performance.
Asset impairment charges and reversals are not included as these are accounting adjustments that impact depreciation and amortization and do not reflect ongoing business performance.
Any gains or losses on asset sales or foreign exchange gains or losses are not included as these are not part of operating income.

Adjustments for Equity-Accounted Investments

During the fourth quarter of 2020, we acquired a 49 per cent interest in the Skookumchuck wind facility, which is treated as an equity investment under IFRS and our proportionate share of the net earnings is reflected as equity income on the statement of earnings under IFRS. As this investment is part of our regular power-generating operations, we have included our proportionate share of adjusted EBITDA for the Skookumchuck wind facility in our total adjusted EBITDA. In addition, in the Wind and Solar adjusted results, we have included our proportionate share of revenues and expenses to reflect the full operational results of this investment. We have not included adjusted EBITDA of other equity-accounted investments in our total adjusted EBITDA as it does not represent our regular power-generating operations.

Adjusted Earnings (Loss) before income taxes

Adjusted earnings (loss) before income taxes represents segmented earnings (loss) adjusted for certain items that we believe do not reflect ongoing business performance and is an important metric for evaluating performance trends in each segment.

For details of the adjustments made to earnings (loss) before income taxes (the most directly comparable IFRS measure) to calculate adjusted earnings (loss) before income taxes, refer to the Reconciliation of Non-IFRS Measures on a Consolidated Basis by Segment section of the MD&A.

Adjusted Net Earnings (Loss) attributable to common shareholders

Adjusted net earnings (loss) attributable to common shareholders represents net earnings (loss) attributable to common shareholders adjusted for specific reclassifications and adjustments and their tax impact, and is an important metric for evaluating performance. For details of the reclassifications and adjustments made to net earnings (loss) attributable to common shareholders (the most directly comparable IFRS measure), please refer to the reconciliation of net earnings (loss) to adjusted net earnings (loss) attributable to common shareholders in the Reconciliation of Non-IFRS Measures on a Consolidated Basis by Segment section of the MD&A.

Adjusted Net Earnings (Loss) per common share attributable to common shareholders

Adjusted net earning (loss) per common share attributable to common shareholders is calculated as adjusted net earnings (loss) attributable to common shareholders divided by a weighted average number of common shares outstanding during the period. The measure is useful in showing the earnings per common share for our core operational results as it excludes the impact of items that do not reflect an ongoing business performance. Adjusted net earnings (loss) attributable per common share is a non-IFRS ratio and the most directly comparable IFRS measure is net income (loss) per common share attributable to common shareholders. Refer to the reconciliation of earnings (loss) before income taxes to adjusted net earnings (loss) attributable to common shareholders in the Reconciliation of Non-IFRS Measures on a Consolidated Basis by Segment section of the MD&A.

Funds From Operations (FFO)

Represents a proxy for cash generated from operating activities before changes in working capital and provides the ability to evaluate cash flow trends in comparison with results from prior periods. FFO is calculated as cash flow from operating activities before changes in working capital and is adjusted for transactions and amounts that the Company believes are not representative of ongoing cash flows from operations.

Free Cash Flow (FCF)

Represents the amount of cash that is available to invest in growth initiatives, make scheduled principal debt repayments, repay maturing debt, pay common share dividends or repurchase common shares and provides the ability to evaluate cash flow trends in comparison with the results from prior periods. Changes in working capital are excluded so that FFO and FCF are not distorted by changes that we consider temporary in nature, reflecting, among other things, the impact of seasonal factors and timing of receipts and payments.

Non-IFRS Ratios

FFO per share, FCF per share and adjusted net debt to adjusted EBITDA are non-IFRS ratios that are presented in the MD&A. Refer to the Reconciliation of Cash Flow from Operations to FFO and FCF and Key Non-IFRS Financial Ratios sections of the MD&A for additional information.

Net Interest Expense

Net interest expense is calculated as total interest expense less total interest income and non-cash items. For detailed calculation refer to the table in the Reconciliation of Adjusted EBITDA to FFO and FCF section of this MD&A. Net Interest expense is a proxy for the actual cash interest paid that approximates the cash outflow in the FFO and FCF calculation. The most directly comparable IFRS measure is total interest expense.

FFO per share and FCF per share

FFO per share and FCF per share are calculated using the weighted average number of common shares outstanding during the period. FFO per share and FCF per share are non-IFRS ratios.

Supplementary financial measures include available liquidity, carbon compliance per MWh, fuel cost per MWh, hedged power price average per MWh, realized foreign exchange loss, sustaining capital expenditures, the Alberta electricity portfolio metrics and unrealized foreign exchange loss (gain).

Reconciliation of these non-IFRS financial measures to the most comparable IFRS measure are provided below.

Reconciliation of Non-IFRS Measures on a Consolidated Basis by Segment

The following table reflects adjusted EBITDA and adjusted earnings (loss) before income taxes by segment and provides reconciliation to earnings (loss) before income taxes for the three months ended June 30, 2025:

	Hydro		Wind & Solar⁽¹⁾		Gas		Energy Transition		Energy Marketing		Corporate		Total		Equity- accounted investments⁽¹⁾		Reclass adjustments		IFRS financials
Revenues	129		59		204		73		38		(67	)	436		(3	)	—		433
Reclassifications and adjustments:
Unrealized mark-to-market (gain) loss	18		68		71		15		(2	)	—		170		—		(170	)	—
Decrease in finance lease receivable	—		—		7		—		—		—		7		—		(7	)	—
Finance lease income	—		2		3		—		—		—		5		—		(5	)	—
Revenues from Planned Divestitures	—		—		(3	)	—		—		—		(3	)	—		3		—
Unrealized foreign exchange gain on commodity	—		—		—		—		(2	)	—		(2	)	—		2		—
Adjusted revenue	147		129		282		88		34		(67	)	613		(3	)	(177	)	433
Fuel and purchased power	7		9		106		51		—		—		173		—		—		173
Reclassifications and adjustments:
Fuel and purchased power related to Planned Divestitures	—		—		(1	)	—		—		—		(1	)	—		1		—
Adjusted fuel and purchased power	7		9		105		51		—		—		172		—		1		173
Carbon compliance costs (recovery)	—		1		(8	)	—		—		(67	)	(74	)	—		—		(74	)
Adjusted gross margin	140		119		185		37		34		—		515		(3	)	(178	)	334
OM&A	13		25		65		18		8		45		174		(1	)	—		173
Reclassifications and adjustments:
OM&A related to Planned Divestitures	—		—		(1	)	—		—		—		(1	)	—		1		—
ERP integration costs	—		—		—		—		—		(6	)	(6	)	—		6		—
Acquisition-related transaction and restructuring costs	—		—		—		—		—		(1	)	(1	)	—		1		—
Adjusted OM&A	13		25		64		18		8		38		166		(1	)	8		173
Taxes, other than income taxes	1		5		5		—		—		1		12		—		—		12
Net other operating income	—		—		(12	)	—		—		—		(12	)	—		—		(12	)
Adjusted EBITDA⁽²⁾	126		89		128		19		26		(39	)	349
Depreciation and amortization	(8	)	(52	)	(74	)	(13	)	—		(4	)	(151	)	1		—		(150	)
Equity income	—		—		—		—		—		—		—		—		1		1
Interest income	—		—		—		—		—		7		7		(1	)	—		6
Interest expense	—		—		—		—		—		(89	)	(89	)	1		—		(88	)
Realized foreign exchange gain	—		—		—		—		—		6		6		—		—		6
Adjusted earnings (loss) before income taxes⁽²⁾	118		37		54		6		26		(119	)	122
Reclassifications and adjustments above	(18	)	(70	)	(80	)	(15	)	4		(7	)	(186	)
Finance lease income	—		2		3		—		—		—		5		—		—		5
Skookumchuk earnings reclass to Equity income⁽¹⁾	—		(1	)	—		—		—		1		—		—		—		—
Asset impairment charges	—		—		—		(11	)	—		(2	)	(13	)	—		—		(13	)
Unrealized foreign exchange loss	—		—		—		—		—		(23	)	(23	)	—		—		(23	)
Earnings (loss) before income taxes	100		(32	)	(23	)	(20	)	30		(150	)	(95	)	—		—		(95	)

The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.
Adjusted EBITDA, adjusted earnings (loss) before income taxes are non-IFRS measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this earnings release.

	Hydro		Wind & Solar⁽¹⁾		Gas		Energy Transition		Energy Marketing		Corporate		Total		Equity- accounted investments⁽¹⁾		Reclass adjustments		IFRS financials
Revenues	99		112		284		79		47		(34	)	587		(5	)	—		582
Reclassifications and adjustments:
Unrealized mark-to-market (gain) loss	1		8		10		(14	)	1		—		6		—		(6	)	—
Decrease in finance lease receivable	—		—		5		—		—		—		5		—		(5	)	—
Finance lease income	—		2		2		—		—		—		4		—		(4	)	—
Unrealized foreign exchange gain on commodity	—		—		(1	)	—		—		—		(1	)	—		1		—
Adjusted revenue	100		122		300		65		48		(34	)	601		(5	)	(14	)	582
Fuel and purchased power	3		8		97		46		—		—		154		—		—		154
Carbon compliance costs (recovery)	—		—		26		—		—		(34	)	(8	)	—		—		(8	)
Adjusted gross margin	97		114		177		19		48		—		455		(5	)	(14	)	436
OM&A	13		24		42		15		9		42		145		(1	)	—		144
Reclassifications and adjustments:
Acquisition-related transaction and restructuring costs	—		—		—		—		—		(4	)	(4	)	—		4		—
Adjusted OM&A	13		24		42		15		9		38		141		(1	)	4		144
Taxes, other than income taxes	1		4		3		2		—		—		10		(1	)	—		9
Net other operating income	—		(2	)	(10	)	—		—		—		(12	)	—		—		(12	)
Adjusted EBITDA⁽²⁾⁽³⁾	83		88		142		2		39		(38	)	316		—		—		—
Depreciation and amortization	(8	)	(47	)	(56	)	(15	)	(1	)	(5	)	(132	)	1		—		(131	)
Equity income	—		—		—		—		—		1		1		—		2		3
Interest income	—		—		—		—		—		8		8		—		—		8
Interest expense	—		—		—		—		—		(80	)	(80	)	—		—		(80	)
Realized foreign exchange loss⁽³⁾	—		—		—		—		—		(1	)	(1	)	—		—		(1	)
Adjusted earnings (loss) before income taxes⁽²⁾	75		41		86		(13	)	38		(115	)	112		—		—		—
Reclassifications and adjustments above	(1	)	(10	)	(16	)	14		(1	)	(4	)	(18	)	—		—		—
Finance lease income	—		2		2		—		—		—		4		—		—		4
Skookumchuk earnings reclass to Equity income⁽¹⁾	—		(2	)	—		—		—		2		—		—		—		—
Asset impairment (charges) reversals	—		(1	)	—		1		—		(5	)	(5	)	—		—		(5	)
Gain on sale of assets and other⁽³⁾	—		—		—		1		—		—		1		—		—		1
Unrealized foreign exchange loss⁽³⁾	—		—		—		—		—		(1	)	(1	)	—		—		(1	)
Earnings (loss) before income taxes	74		30		72		3		37		(122	)	94		—		—		94

The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.
Adjusted EBITDA, adjusted earnings (loss) before income taxes are non-IFRS measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this earnings release.
During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods.

	Hydro		Wind & Solar⁽¹⁾		Gas		Energy Transition		Energy Marketing		Corporate		Total		Equity- accounted investments⁽¹⁾		Reclass adjustments		IFRS financials
Revenues	215		166		594		227		65		(66	)	1,201		(10	)	—		1,191
Reclassifications and adjustments:
Unrealized mark-to-market (gain) loss	(3	)	104		39		14		(1	)	—		153		—		(153	)	—
Decrease in finance lease receivable	—		1		14		—		—		—		15		—		(15	)	—
Finance lease income	—		3		8		—		—		—		11		—		(11	)	—
Revenues from Planned Divestitures	—		—		(7	)	—		—		—		(7	)	—		7		—
Unrealized foreign exchange gain on commodity	—		—		—		—		(2	)	—		(2	)	—		2		—
Adjusted revenue	212		274		648		241		62		(66	)	1,371		(10	)	(170	)	1,191
Fuel and purchased power	11		19		269		149		—		2		450		—		—		450
Reclassifications and adjustments:
Fuel and purchased power related to Planned Divestitures	—		—		(3	)	—		—		—		(3	)	—		3		—
Adjusted fuel and purchased power	11		19		266		149		—		2		447		—		3		450
Carbon compliance costs (recovery)	—		2		41		—		—		(68	)	(25	)	—		—		(25	)
Adjusted gross margin	201		253		341		92		62		—		949		(10	)	(173	)	766
OM&A	26		54		124		35		15		94		348		(2	)	—		346
Reclassifications and adjustments:
OM&A related to Planned Divestitures	—		—		(3	)	—		—		—		(3	)	—		3		—
ERP integration costs	—		—		—		—		—		(10	)	(10	)	—		10		—
Acquisition-related transaction and restructuring costs	—		—		—		—		—		(5	)	(5	)	—		5		—
Adjusted OM&A	26		54		121		35		15		79		330		(2	)	18		346
Taxes, other than income taxes	2		10		10		1		—		1		24		—		—		24
Net other operating income	—		(4	)	(22	)	—		—		—		(26	)	—		—		(26	)
Reclassifications and adjustments:
Insurance recovery	—		2		—		—		—		—		2		—		(2	)	—
Adjusted net other operating income	—		(2	)	(22	)	—		—		—		(24	)	—		(2	)	(26	)
Adjusted EBITDA⁽²⁾	173		191		232		56		47		(80	)	619
Depreciation and amortization	(17	)	(105	)	(138	)	(28	)	(2	)	(9	)	(299	)	3		—		(296	)
Equity income	—		—		—		—		—		(1	)	(1	)	—		4		3
Interest income	—		—		—		—		—		12		12		(1	)	—		11
Interest expense	—		—		—		—		—		(183	)	(183	)	2		—		(181	)
Realized foreign exchange gain	—		—		—		—		—		2		2		—		—		2
Adjusted earnings (loss) before income taxes⁽²⁾	156		86		94		28		45		(259	)	150
Reclassifications and adjustments above	3		(106	)	(60	)	(14	)	3		(15	)	(189	)
Finance lease income	—		3		8		—		—		—		11		—		—		11
Skookumchuk earnings reclass to Equity income⁽¹⁾	—		(4	)	—		—		—		4		—		—		—		—
Fair value change in contingent consideration payable	—		—		34		—		—		—		34		—		—		34
Asset impairment (charges) reversals	—		—		(34	)	13		—		(7	)	(28	)	—		—		(28	)
Loss on sale of assets and other	—		—		—		—		—		(1	)	(1	)	—		—		(1	)
Unrealized foreign exchange loss	—		—		—		—		—		(23	)	(23	)	—		—		(23	)
Earnings (loss) before income taxes	159		(21	)	42		27		48		(301	)	(46	)	—		—		(46	)

The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.
Adjusted EBITDA, adjusted earnings (loss) before income taxes are non-IFRS measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this earnings release.

	Hydro		Wind & Solar⁽¹⁾		Gas		Energy Transition		Energy Marketing		Corporate		Total		Equity- accounted investments⁽¹⁾		Reclass adjustments		IFRS financials
Revenues	211		251		717		296		99		(34	)	1,540		(11	)	—		1,529
Reclassifications and adjustments:
Unrealized mark-to-market (gain) loss	(4	)	(13	)	(81	)	(20	)	(2	)	—		(120	)	—		120		—
Decrease in finance lease receivable	—		1		9		—		—		—		10		—		(10	)	—
Finance lease income	—		3		3		—		—		—		6		—		(6	)	—
Unrealized foreign exchange gain on commodity	—		—		(2	)	—		—		—		(2	)	—		2		—
Adjusted revenue	207		242		646		276		97		(34	)	1,434		(11	)	106		1,529
Fuel and purchased power	9		17		239		212		—		—		477		—		—		477
Carbon compliance costs (recovery)	—		—		66		—		—		(34	)	32		—		—		32
Adjusted gross margin	198		225		341		64		97		—		925		(11	)	106		1,020
OM&A	26		44		88		33		19		70		280		(2	)	—		278
Reclassifications and adjustments:
Acquisition-related transaction and restructuring costs	—		—		—		—		—		(7	)	(7	)	—		7		—
Adjusted OM&A	26		44		88		33		19		63		273		(2	)	7		278
Taxes, other than income taxes	2		8		6		2		—		—		18		(1	)	—		17
Net other operating income	—		(4	)	(20	)	—		—		—		(24	)	—		—		(24	)
Adjusted EBITDA⁽²⁾⁽³⁾	170		177		267		29		78		(63	)	658
Depreciation and amortization	(15	)	(90	)	(111	)	(31	)	(2	)	(9	)	(258	)	3		—		(255	)
Equity income	—		—		—		—		—		(1	)	(1	)	—		5		4
Interest income	—		—		—		—		—		15		15		—		—		15
Interest expense	—		—		—		—		—		(149	)	(149	)	—		—		(149	)
Realized foreign exchange loss⁽⁴⁾	—		—		—		—		—		(9	)	(9	)	—		—		(9	)
Adjusted earnings (loss) before income taxes⁽²⁾	155		87		156		(2	)	76		(216	)	256
Reclassifications and adjustments above	4		9		71		20		2		(7	)	99
Finance lease income	—		3		3		—		—		—		6		—		—		6
Skookumchuk earnings reclass to Equity income⁽¹⁾	—		(5	)	—		—		—		5		—		—		—		—
Asset impairment (charges) reversals	—		(5	)	—		4		—		(5	)	(6	)	—		—		(6	)
Gain on sale of assets and other⁽⁴⁾	—		—		—		1		—		2		3		—		—		3
Unrealized foreign exchange gain⁽⁴⁾	—		—		—		—		—		3		3		—		—		3
Earnings (loss) before income taxes	159		89		230		23		78		(218	)	361		—		—		361

The Skookumchuck wind facility has been included on a proportionate basis in the Wind and Solar segment.
Adjusted EBITDA, adjusted earnings (loss) before income taxes are non-IFRS measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this earnings release.
During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods.

Reconciliation of Earnings Before Income Taxes to Adjusted Net Earnings attributable to common shareholders

The following table reflects reconciliation of (loss) earnings before income taxes to adjusted net earnings attributable to common shareholders for the three and six months ended June 30, 2025 and June 30, 2024:

	Three months ended June 30				Six months ended June 30
	2025		2024		2025		2024
(Loss) earnings before income taxes	(95	)	94		(46	)	361
Income tax expense	11		28		18		57
Net (loss) earnings	(106	)	66		(64	)	304
Net (loss) earnings attributable to non-controlling interests	(7	)	(3	)	(11	)	13
Preferred share dividends	13		13		13		13
Net (loss) earnings attributable to common shareholders	(112	)	56		(66	)	278
Adjustments and reclassifications (pre-tax):
Adjustments and reclassifications to Revenues	177		14		170		(106	)
Adjustments and reclassifications to Fuel and purchased power	1		—		3		—
Adjustments and reclassifications to OM&A	8		4		18		7
Adjustments and reclassifications to Net other operating income	—		—		(2	)	—
Fair value change in contingent consideration payable (gain)	—		—		(34	)	—
Finance lease income	(5	)	(4	)	(11	)	(6	)
Asset impairment charges	13		5		28		6
Loss (gain) on sale of assets and other	—		(1	)	1		(3	)
Unrealized foreign exchange loss (gain)⁽¹⁾	23		—		23		(3	)
Calculated tax (expense) recovery on adjustments and reclassifications⁽²⁾	(51	)	(4	)	(46	)	24
Adjusted net earnings attributable to common shareholders⁽³⁾	54		70		84		197
Weighted average number of common shares outstanding in the period	297		303		297		306
Net (loss) income per common share attributable to common shareholders	(0.38	)	0.18		(0.22	)	0.91
Adjustments and reclassifications (net of tax)	0.56		0.05		0.50		(0.26	)
Adjusted net earnings per common share attributable to common shareholders⁽³⁾	0.18		0.23		0.28		0.64

Unrealized foreign exchange (loss) gain is a supplementary financial measure. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this MD&A for more details.
Represents a theoretical tax calculated by applying the Company’s consolidated effective tax rate of 23.3 per cent for the three and six months ended June 30, 2025 (three and six months ended June 30, 2024 — 23.3 per cent). The amount does not take into account the impact of different tax jurisdictions the Company’s operations are domiciled and does not include the impact of deferred taxes.
Adjusted net earnings attributable to common shareholders and Adjusted net earnings per common share attributable to common shareholders are non-IFRS measures, are not defined, have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. The most directly comparable IFRS measures are net earnings attributable to common shareholders and net earnings per share attributable to common shareholders, basic and diluted. Refer to the Non-IFRS financial measures section in this earnings release for more details.

Reconciliation of cash flow from operations to FFO and FCF

The table below reconciles our cash flow from operating activities to our FFO and FCF:

	Three months ended June 30				Six months ended June 30
	2025		2024		2025		2024
Cash flow from operating activities⁽¹⁾	157		108		164		352
Change in non-cash operating working capital balances	81		114		198		107
Cash flow from operations before changes in working capital	238		222		362		459
Adjustments
Share of adjusted FFO from joint venture⁽¹⁾	1		2		3		4
Decrease in finance lease receivable	7		5		15		10
Clean energy transition provisions and adjustments	—		2		—		2
Brazeau penalties payment	—		—		33		—
Acquisition-related transaction and restructuring costs	2		4		8		7
Other⁽²⁾	4		1		10		8
FFO⁽³⁾	252		236		431		490
Deduct:
Sustaining capital expenditures⁽¹⁾	(57	)	(40	)	(80	)	(40	)
Dividends paid on preferred shares	(13	)	(13	)	(26	)	(26	)
Distributions paid to subsidiaries’ non-controlling interests	(2	)	(5	)	(2	)	(24	)
Principal payments on lease liabilities	—		(1	)	(1	)	(2	)
Other	(3	)	—		(6	)	—
FCF⁽³⁾	177		177		316		398
Weighted average number of common shares outstanding in the period	297		303		297		306
Cash flow from operating activities per share	0.53		0.36		0.55		1.15
FFO per share⁽³⁾	0.85		0.78		1.45		1.60
FCF per share⁽³⁾	0.60		0.58		1.06		1.30

Includes our share of amounts for the Skookumchuck wind facility, an equity-accounted joint venture.
Other consists of production tax credits, which is a reduction to tax equity debt, less distributions from an equity-accounted joint venture.
These items are not defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods. Refer to the Non-IFRS financial measures and other specified financial measures section in this earnings release.

The table below provides a reconciliation of our adjusted EBITDA to our FFO and FCF:

	Three months ended June 30				Six months ended June 30
$ millions, unless otherwise stated	2025		2024		2025		2024
Adjusted EBITDA⁽¹⁾⁽⁵⁾	349		316		619		658
Provisions	(2	)	6		6		6
Net interest expense⁽²⁾	(66	)	(57	)	(138	)	(105	)
Current income tax expense	(46	)	(33	)	(59	)	(60	)
Realized foreign exchange gain (loss)⁽³⁾	4		(1	)	2		(9	)
Decommissioning and restoration costs settled	(11	)	(12	)	(20	)	(19	)
Other non-cash items	24		17		21		19
FFO⁽⁴⁾⁽⁵⁾	252		236		431		490
Deduct:
Sustaining capital expenditures⁽³⁾⁽⁵⁾	(57	)	(40	)	(80	)	(40	)
Dividends paid on preferred shares	(13	)	(13	)	(26	)	(26	)
Distributions paid to subsidiaries’ non-controlling interests	(2	)	(5	)	(2	)	(24	)
Principal payments on lease liabilities	—		(1	)	(1	)	(2	)
Other	(3	)	—		(6	)	—
FCF⁽⁴⁾⁽⁵⁾	177		177		316		398

Adjusted EBITDA is defined in the Additional IFRS Measures and Non-IFRS Measures of this earnings release and reconciled to earnings (loss) before income taxes above. During the first quarter of 2025, our Adjusted EBITDA composition was amended to exclude the impact of realized gain (loss) on closed exchange positions and Australian interest income. Therefore, the Company has applied this composition to all previously reported periods.
Net interest expense is a non-IFRS measure, is not defined and has no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Refer to the table below for detailed calculation.
Supplementary financial measure. Refer to the Additional Non-IFRS and Supplementary Financial Measures section of this earnings release.
These items are not defined and have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. FFO and FCF are defined in the Non-IFRS financial measures and other specified financial measures section in this earnings release and reconciled to cash flow from operating activities above.
Includes our share of amounts for Skookumchuck wind facility, an equity-accounted joint venture.

Net interest expense in the reconciliation of our adjusted EBITDA to our FFO and FCF is calculated as follows:

	Three months ended June 30				Six months ended June 30
	2025		2024		2025		2024
Interest expense	88		80		181		149
Less: Interest Income	(6	)	(8	)	(11	)	(15	)
Less: non-cash items⁽¹⁾	(16	)	(15	)	(32	)	(29	)
Net Interest Expense	66		57		138		105

Non-cash items include accretion of provisions, financing cost amortization and other non-cash items.

TransAlta is in the process of filing its unaudited interim Consolidated Financial Statements and accompanying notes, as well as the associated Management’s Discussion & Analysis (MD&A). These documents will be available today on the Investors section of TransAlta’s website at www.transalta.com or through SEDAR at www.sedarplus.ca.

About TransAlta Corporation:

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of thermal generation and hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and the Future-Fit Business Benchmark, which also defines sustainable goals for businesses. Our reporting on climate change management has been guided by the International Financial Reporting Standards (IFRS) S2 Climate-related Disclosures Standard and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. TransAlta has achieved a 70 per cent reduction in GHG emissions or 22.7 million tonnes CO2e since 2015 and received an upgraded MSCI ESG rating of AA.

For more information about TransAlta, visit our web site at transalta.com.

Cautionary Statement Regarding Forward-Looking Information

This news release includes “forward-looking information,” within the meaning of applicable Canadian securities laws, and “forward-looking statements,” within the meaning of applicable United States securities laws, including the Private Securities Litigation Reform Act of 1995 (collectively referred to herein as “forward-looking statements”). Forward-looking statements are not facts, but only predictions and generally can be identified by the use of statements that include phrases such as “may”, “will”, “can”, “could”, “would”, “shall”, “believe”, “expect”, “estimate”, “anticipate”, “intend”, “plan”, “forecast”, “foresee”, “potential”, “enable”, “continue” or other comparable terminology. These statements are not guarantees of our future performance, events or results and are subject to risks, uncertainties and other important factors that could cause our actual performance, events or results to be materially different from those set out in or implied by the forward-looking statements. In particular, this news release contains forward-looking statements about the following, among other things: the strategic objectives of the Company and that the execution of the Company’s strategy will realize value for shareholders; our capital allocation and financing strategy; our sustainability goals and targets, including those in our 2024 Sustainability Report; our 2025 Outlook; our financial and operational performance, including our hedge position; optimizing and diversifying our existing assets; the increasingly contracted nature of our fleet; expectations about strategies for growth and expansion; data centre opportunities, including the AESO’s expectation around the timing of execution of Demand Transmission Service contracts and entering into a data centre memorandum of understanding; opportunities for Centralia redevelopment, including the execution of a definitive agreement with our customer for the full capacity of Centralia Unit 2; expectations regarding ongoing and future transactions, including the sale of Poplar Hill; expected costs and schedules for planned projects; expected regulatory processes and outcomes, including in relation to the Alberta restructured energy market; the completion and closing of acquisition and divestiture transactions which are subject to customary closing terms and conditions, the power generation industry and the supply and demand of electricity; the cyclicality of our business; expected outcomes with respect to legal proceedings; the expected impact of future tax and accounting changes; and expected industry, market and economic conditions.

The forward-looking statements contained in this news release are based on many assumptions including, but not limited to, the following: no significant changes to applicable laws and regulations; no unexpected delays in obtaining required regulatory approvals; no material adverse impacts to investment and credit markets; no significant changes to power price and hedging assumptions; no significant changes to gas commodity price assumptions and transport costs; no significant changes to interest rates; no significant changes to the demand and growth of renewables generation; no significant changes to the integrity and reliability of our facilities; no significant changes to the Company’s debt and credit ratings; no unforeseen changes to economic and market conditions; no significant event occurring outside the ordinary course of business; and realization of expected impacts from ongoing and future transactions.

These assumptions are based on information currently available to TransAlta, including information obtained from third-party sources. Actual results may differ materially from those predicted. Factors that may adversely impact what is expressed or implied by forward-looking statements contained in this news release include, but are not limited to: fluctuations in power prices; changes in supply and demand for electricity; our ability to contract our electricity generation for prices that will provide expected returns; our ability to replace contracts as they expire; risks associated with development projects and acquisitions; failure to complete divestitures on the terms and conditions specified or at all; any difficulty raising needed capital in the future on reasonable terms or at all; our ability to achieve our targets relating to ESG; long-term commitments on gas transportation capacity that may not be fully utilized over time; changes to the legislative, regulatory and political environments; environmental requirements and changes in, or liabilities under, these requirements; operational risks involving our facilities, including unplanned outages and equipment failure; disruptions in the transmission and distribution of electricity; reductions in production; impairments and/or writedowns of assets; adverse impacts on our information technology systems and our internal control systems, including increased cybersecurity threats; commodity risk management and energy trading risks; reduced labour availability and ability to continue to staff our operations and facilities; disruptions to our supply chains; climate-change related risks; reductions to our generating units’ relative efficiency or capacity factors; general economic risks, including deterioration of equity and debt markets, increasing interest rates or rising inflation; general domestic and international economic and political developments, including potential trade tariffs; industry risk and competition; counterparty credit risk; inadequacy or unavailability of insurance coverage; increases in the Company’s income taxes and any risk of reassessments; legal, regulatory and contractual disputes and proceedings involving the Company; reliance on key personnel; and labour relations matters.

The foregoing risk factors, among others, are described in further detail under the heading “Governance and Risk Management” in the MD&A, which section is incorporated by reference herein.

Readers are urged to consider these factors carefully when evaluating the forward-looking statements and are cautioned not to place undue reliance on them. The forward-looking statements included in this news release are made only as of the date hereof and we do not undertake to publicly update these forward-looking statements to reflect new information, future events or otherwise, except as required by applicable laws. The purpose of the financial outlooks contained herein is to give the reader information about management’s current expectations and plans and readers are cautioned that such information may not be appropriate for other purposes.

Note: All financial figures are in Canadian dollars unless otherwise indicated.

For more information:

*Investor Inquiries:*	*Media Inquiries:*
Phone: 1-800-387-3598 in Canada and U.S.	Phone: 1-855-255-9184
Email: investor_relations@transalta.com	Email: ta_media_relations@transalta.com

The MIL Network –

August 5, 2025

MIL-Evening Report: ‘Glorious’ sisters showcase Auckland’s Polynesian experiences for tourists

By Torika Tokalau, Local Democracy Reporter

The sisters running Auckland’s first authentic Polynesian show for tourists say it’s not just for visitors, but also to help uplift Pacific people.

Louisa Tipene Opetaia and Ama Mosese’s Glorious Tours was pooled as one of 10 new “Treasures of Tāmaki Makaurau”: a go-to guide by Tātaki Auckland Unlimited (TAU) for local Māori tourism.

Their tour tells the story of how Auckland became the biggest Polynesian city in the world, and often starts with a drop in at a Pacific or Māori-owned cafe, a guided hīkoi up the Māngere mountain, hangi lunch, a haka show at the museum, then end with a kava-drinking experience.

LOCAL DEMOCRACY REPORTING

The tour, which has been running for a year, aims to give visitors an Auckland experience through local eyes, with Māori-led journeys and dining events.

Opetaia said before they started their tour, tourists were travelling to Rotorua for a Pacific cultural experience.

The only other regular Polynesian show for tourists in Auckland was at Auckland Museum, where there was a daily haka show.

“We have rich culture gold in south Auckland,” she said.

“All tourists fly here, in our backyard and we wanted to offer them something right here.”

The sisters, who are of Māori and Samoan heritage, call themselves “cultural connectors”.

‘The space was lacking’
“We’ve been working for these other companies for some time, some of them not even New Zealand-owned. And we felt we were the face of these companies but behind the scenes it wasn’t a local or Māori or indigenous business.

“We decided to step into this space that we saw was lacking, and offer authentic indigenous cultural experiences here in Tāmaki Makaurau — the biggest Polynesian city in the world.”

Glorious Tours is based out of Naumi Hotel, near the Auckland Airport in Māngere.

“We tailor it to what they want, so if they like shopping we take them to places where they can buy authentic Pacific goods, or we take them to our local gallery in Māngere.

This month, the sisters will launch a Polynesian dinner and dance show in Māngere, featuring local schools.

“It’s not just for the tourists, it’s for our own people. Our kaupapa is to uplift our local people, especially our rangatahi.”

TAU director of Māori outcomes Helen Te Hira said Treasures of Tāmaki Makaurau plays a vital role in ensuring Māori culture, businesses and leadership are central to the way Tāmaki Makaurau is experienced by visitors.

“Every business on this platform brings something unique — a sense of purpose, cultural depth and creative excellence.”

LDR is local body journalism co-funded by RNZ and NZ On Air. Asia Pacific Report is a partner.

MIL OSI Analysis – EveningReport.nz –

August 5, 2025
MIL-Evening Report: Bloodshed at GHF-run Gaza aid sites ‘a great sin’, says former top UN official

Asia Pacific Report

A former senior UN aid official has condemned the bloodshed at the notorious US and Israel-backed Gaza Humanitarian Foundation’s aid food depots, describing the distribition system as having turned into a “catastrophe”.

The number of aid seekers killed continues to climb daily beyond 1000.

Martin Griffiths, director of Mediation Group International and the former Under Secretary General of the UN Humanitarian Affairs Office, said: “I think when many of us saw the first plans of the GHF to launch this operation in Gaza, we were immediately appalled by the way they were proposing to manage it.”

“It was clearly militarised. They’d have their own security contractors,” he told Al Jazeera.

“They’d have [Israeli military] camps placed right beside them. We know now that they are, in fact, under instructions by [the Israeli military].

“All of this is a crime. All of this is a deep betrayal of humanitarian values.

“But what I at least did not sufficiently anticipate was the killing and was the absolutely critical result of this operation, this sole humanitarian operation allowed by Israel in Gaza,” Griffiths added.

“The 1000 killed are an incredible statistic. I had no idea it would go that high and it’s going on daily. It’s not stopping.

“I think it’s a catastrophe more than a disappointment,” he said. “I think it’s a great sin. I think it’s a great crime.”

Humanitarian aid advocate Martin Griffiths . . . We know now that [GHF] are, in fact, under instructions by [the Israeli military]. All of this is a crime.” Image: Wikipedia

Commenting about US envoy Steve Witkoff and US ambassador to Israel Mike Huckabee’s planned visit to GHF-run aid distribution sites in Gaza, he said this was “likely to be choreographed”.

However, he acknowledged it was still an “important form of witness”.

“I’m glad that they’re going,” Griffiths said.

“Maybe they will see things that are unexpected. I can’t imagine because we’ve seen so much. But I don’t see it leading to a major change.

“If I was one of the two million Gazans starving to death, this is a day I would like to go to an aid distribution point,” Griffiths added.

“There’s slightly less risk probably than any other day.”

MIL OSI Analysis – EveningReport.nz –

August 5, 2025
Indian stock markets end lower as India-US trade deal stalls

Source: Government of India

Source: Government of India (4)

Indian stock markets ended in negative territory on Friday after the announcement of fresh tariffs by the United States on imports from India. The 25 per cent tariff declaration by US President Donald Trump impacted investor sentiment, leading to broad-based selling across sectors.

The BSE Sensex declined by 585.67 points or 0.72 per cent to close at 80,599.91. The index opened lower at 81,074.41 and continued to face pressure throughout the session, touching an intra-day low of 80,495.57. The NSE Nifty also witnessed a decline of 203 points or 0.82 per cent, ending at 24,565.35.

Major drag was seen in the Pharma, IT, and Auto sectors. Stocks such as Tata Steel, Maruti Suzuki, Infosys, Tata Motors, Tech Mahindra, Bharti Airtel, BEL, Bajaj FinServ, ICICI Bank, HCL Tech, Mahindra and Mahindra, and TCS were among the top losers on the Sensex. However, select stocks like Trent, Asian Paints, Hindustan Unilever, and ITC ended the session in green.

On the sectoral front, Nifty Pharma declined 3.33 per cent, followed by Nifty IT which was down 1.85 per cent, and Nifty Auto which slipped 1.04 per cent. Nifty Bank ended 0.62 per cent lower. Meanwhile, Nifty FMCG bucked the trend to close in green with a gain of 384 points.

The broader market also mirrored the benchmark indices. Nifty Midcap 100 fell by 1.33 per cent, Nifty Smallcap 100 declined by 1.66 per cent, and Nifty 100 ended 0.91 per cent lower.

According to market analysts, the markets extended their corrective phase amid concerns over global trade tensions and ongoing foreign fund outflows. “Markets continue to grapple with a mixed earnings season, while the recent tariff announcement and persistent foreign fund outflows are further weighing on sentiment,” said Ajit Mishra, SVP, Research, Religare Broking Ltd.

Technical analysts also cautioned about key support levels. “A further decline is likely if Nifty slips below 24,400. On the upside, resistance is expected at 24,600–24,650 and 24,850,” said Rupak De, Senior Technical Analyst at LKP Securities.

-IANS

August 5, 2025
India Post Payments Bank launches Aadhaar-based face authentication for digital transactions

Source: Government of India

Source: Government of India (4)

The India Post Payments Bank (IPPB) on Friday announced the nationwide rollout of Aadhaar-based face authentication for customer transactions, a move aimed at enhancing ease of access and financial inclusion for the elderly, differently-abled and those facing biometric authentication issues.

Developed under the framework of the Unique Identification Authority of India (UIDAI), the feature enables customers to carry out banking services using facial recognition, eliminating the need for physical biometrics like fingerprints or one-time passwords (OTPs).

“This is not just a technological enhancement but a commitment to dignified and inclusive banking,” said IPPB Managing Director and CEO R Viswesvaran. “With Aadhaar-based face authentication, we are ensuring that no customer is left behind due to limitations in fingerprint or OTP-based verification.”

The feature supports a range of services including account opening, balance inquiries, fund transfers, and utility payments. It is expected to make banking faster, contactless, and safer—especially during health emergencies where physical contact poses risks.

The IPPB said the new authentication system aligns with the government’s Digital India and Financial Inclusion missions. Customers across rural and urban India will benefit, particularly those with worn-out fingerprints or limited access to smartphones.

The bank, established in 2018 under the Department of Posts, Ministry of Communications, operates through a vast network of around 1.65 lakh post offices and over 3 lakh postal employees. Its digital model leverages India Stack technologies to offer paperless and presence-less banking services at the doorstep, serving over 11 crore customers across 5.57 lakh villages and towns.

August 5, 2025
MIL-OSI Submissions: Trade – Trump’s tariffs cement new multipolar global economy: deVere CEO

Source: deVere Group

August 1 2025 – Donald Trump’s sweeping new tariffs are not just reshaping global trade – they are accelerating the rise of a multipolar global economy.

The shift away from a US-dominated system is no longer theoretical, it is active and accelerating.

“Multipolarity now defines the direction of global trade,” says Nigel Green, CEO of deVere Group, one of the world’s largest independent financial advisory and asset management organizations.

“These tariffs are forcing countries to rewire their trade, capital, and strategic priorities. The world is moving toward multiple centres of economic power and influence.”

Effective August 7, the US will impose tariffs on nearly every major trading partner.

Countries running a trade deficit with the US face a 15% floor. Canada has been hit with 35%. Brazil, 50%.

India now faces a 25% rate, alongside a financial penalty for continuing energy and defence ties with Russia—despite being positioned by Trump as a close ally.

“India’s inclusion shows how quickly partners can become pressure points. This pressure is already nudging New Delhi toward deeper cooperation with trade rival Beijing. The consequences will be long-term.”

While trade deals with China and Mexico remain under negotiation, the broader international response is already unfolding.

“Beijing, Moscow, and increasingly Delhi are coordinating more closely on trade, infrastructure and investment. Long-time allies like Switzerland and Taiwan are reassessing risk. Many governments are seeking to reduce exposure to Washington’s economic leverage altogether.

“This isn’t a rerun of past trade disputes. It is a global shift away from reliance on the US as the central node. New trade networks are forming by necessity, not necessarily by preference.”

Diplomatic talks with China have intensified in recent months, with meetings in Geneva, London and Stockholm.

Beijing is focused on securing a continued freeze on US semiconductor export controls. Washington is demanding action on fentanyl, greater access for American firms, and increased Chinese purchases of US goods. But the real story lies beyond the negotiating table.

“Tariffs are being baked in as permanent features of the new economic order. Countries are responding by building systems that can operate without US permission.”

The US tariff list now stretches across continents. Switzerland faces 39%. South Africa, Libya, Algeria, Serbia, and several others between 30% and 41%. Taiwan, Israel, Pakistan, and Norway are all in the 15–20% range. The sweep is deliberate—and global.

“Markets are adjusting. Capital is shifting. Supply chains are realigning around regional strength, not global scale.”

Nigel Green continues: “The dollar remains dominant, but its influence is no longer unchallenged.

“Central banks are pursuing alternatives. Reserve diversification is accelerating. Regional trading blocs are pushing forward with new payments infrastructure, less reliant on Washington’s rules.

“This fragmentation is the new baseline. The post-war consensus on trade and financial cooperation is fading. What replaces it is a world of multiple economic power and influence centres, each with their own rules and reach.”

For investors, the implications are direct. Correlations are weakening. Policy risk is climbing. Exposure to geopolitical realignment is no longer abstract, it’s active.

“Anyone still expecting a return to the old system is behind the curve. This is the direction of travel now. Global trade will be multipolar. Capital allocation must reflect that.”

The deVere CEO concludes: “It locks in a new world order where influence is distributed, and alignment is increasingly transactional. For global investors, it marks the start of a generation-defining realignment.

“From here, economic and trade power is going to become more fragmented—and competition for it more intense.”

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

MIL OSI – Submitted News –

August 5, 2025
CEO Tim Cook says Apple ready to open its wallet to catch up in AI

Source: Government of India

Source: Government of India (4)

Apple CEO Tim Cook signaled on Thursday the iPhone maker was ready to spend more to catch up to rivals in artificial intelligence by building more data centers or buying a larger player in the segment, a departure from a long practice of fiscal frugality.

Apple has struggled to keep pace with rivals such as Microsoft and Alphabet’s Google, both of which have attracted hundreds of millions of users to their AI-powered chatbots and assistants. That growth has come at a steep cost, however, with Google planning to spend $85 billion over the next year and Microsoft on track to spend more than $100 billion, mostly on data centers.

Apple, in contrast, has leaned on outside data center providers to handle some of its cloud computing work, and despite a high-profile partnership with ChatGPT creator OpenAI for certain iPhone features, has tried to grow much of its AI technology in-house, including improvements to its Siri virtual assistant. The results have been rocky, with the company delaying its Siri improvements until next year.

During a conference call after Apple‘s fiscal third-quarter results, analysts noted that Apple has historically not done large deals and asked whether it might take a different approach to pursue its AI ambitions. CEO Cook responded that the company had already acquired seven smaller companies this year and is open to buying larger ones.

“We’re very open to M&A that accelerates our roadmap. We are not stuck on a certain size company, although the ones that we have acquired thus far this year are small in nature,” Cook said. “We basically ask ourselves whether a company can help us accelerate a roadmap, and if they do, then we’re interested.”

Shares of the company were up 1.7% in premarket trading on Friday.

Apple has tended to buy smaller firms with highly specialized technical teams to build out specific products. Its largest deal ever was its purchase of Beats Electronics for $3 billion in 2014, followed by a $1 billion deal to buy a modem chip business from Intel.

But now Apple is at a unique crossroads for its business. The tens of billions of dollars per year it receives from Google as payment to be the default search engine on iPhones could be undone by U.S. courts in Google’s antitrust trial, while startups like Perplexity are in discussions with handset makers to try to dislodge Google with an AI-powered browser that would handle many search functions.

Apple executives have said in court they are considering reshaping the firm’s Safari browser with AI-powered search functions, and Bloomberg News has reported that Apple executives have discussed buying Perplexity, which Reuters has not independently confirmed.

Apple also said on Thursday it plans to spend more on data centers, an area where it typically spends only a few billion dollars per year. Apple is currently using its own chip designs to handle AI requests with privacy controls that are compatible with the privacy features on its devices.

Kevan Parekh, Apple‘s chief financial officer, did not give specific spending targets but said outlays would rise.

“It’s not going to be exponential growth, but it is going to grow substantially,” Parekh said during the conference call.

“A lot of that’s a function of the investments we’re making in AI.”

-REUTERS

August 5, 2025
President Murmu graces 45th convocation of IIT (ISM) Dhanbad, urges graduates to lead with compassion and innovation

Source: Government of India

Source: Government of India (4)

President Droupadi Murmu attended the 45th convocation ceremony of the Indian Institute of Technology (Indian School of Mines), Dhanbad on Friday, commending the institute’s nearly century-long legacy and its contribution to national development through education, research, and innovation.

Addressing the gathering, President Murmu lauded IIT (ISM) Dhanbad for its transformation from a premier institution in mining and geology to a multidisciplinary hub of higher learning and technological advancement. She noted that the institute has nurtured a strong academic ecosystem aligned with the needs and aspirations of society.

“IIT (ISM) has an important role in the holistic development of the country. Beyond producing skilled engineers and researchers, it must foster professionals who are compassionate, sensitive, and purposeful,” she said.

Highlighting the growing challenges facing the nation and the world—including climate change, resource scarcity, digital disruption, and social inequality – the President called for leadership from premier institutions like IIT-ISM in developing sustainable and innovative solutions.

She also emphasized India’s potential to emerge as a technological superpower, driven by its vast human resources and the rapid spread of digital skills. “To harness the full potential of our youth, we must ensure our education system is practical, innovation-oriented, and aligned with industry needs,” she said.

President Murmu underscored the importance of cultivating a “patent culture” alongside strengthening research, development, and start-up ecosystems. She advocated for an interdisciplinary approach in education to nurture holistic thinking and creativity among students.

Urging graduates to go beyond personal success, the President called on them to use their knowledge for the greater public good. “Build a stronger and more just India—where progress is inclusive – and a greener India – where development respects the environment,” she said. “Let your actions reflect not just intelligence, but empathy, ethics, and excellence. Innovation driven by compassion is what truly transforms the world.”

August 5, 2025
MIL-OSI Russia: Russia Presents Report on Application of Space Technologies to Monitor Greenhouse Gases at APEC

Translation. Region: Russian Federal

Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

An important disclaimer is at the bottom of this article.

The Department of Multilateral Economic Cooperation and Special Projects of the Ministry of Economic Development of the Russian Federation has prepared a report entitled “Monitoring Greenhouse Gas Emissions in APEC: Space Solutions.” The document is posted on the official website the Asia-Pacific Economic Cooperation (APEC) forum. The report reflects the key findings and recommendations of the international expert roundtable, which took place on March 14, 2025 under the auspices of the Ministry of Economic Development of Russia.

The report is a systematic review of the practices of using satellite technologies in climate monitoring with an emphasis on the potential for their scaling in the Asia-Pacific region. The document collects key recommendations from international organizations. In particular, the United Nations Office for Outer Space Affairs, the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), as well as the public sector, academic and business communities of APEC member economies, including Russia, Indonesia and Thailand.

“Satellite technologies are becoming an integral element of climate architecture. Their use ensures the objectivity, efficiency and reproducibility of climate data, especially in conditions where traditional ground infrastructure is limited or unavailable. Russia is consistently developing a climate monitoring system that combines satellite, air and ground tracking methods with advanced computational models. Dialogue at the APEC platform allows us not only to develop high-quality international expertise, but also to strengthen trust between the economies of the region,” commented Evgeniya Drozhashchikh, Deputy Director of the Department of Multilateral Economic Cooperation and Special Projects of the Ministry of Economic Development of Russia.

The materials of the round table present advanced solutions in the field of remote sensing of the Earth, methods of their integration into national greenhouse gas emission inventory systems, approaches to the unification of methodologies, as well as legal and technological aspects of climate data exchange.

Given that APEC economies account for more than 60% of global CO2 emissions, the issue of creating a transparent and scientifically based monitoring system is becoming fundamental to achieving international climate goals. Satellite data allows not only to map emission hot spots, but also to track their dynamics in the long term.

The prepared report will serve as a basis for further work by APEC economies to develop technological cooperation and introduce space solutions into national climate management systems.

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.

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MIL OSI Russia News –

August 5, 2025
MIL-OSI Russia: Peking University’s Belt and Road Research Institute Opens in Xinjiang

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

URUMQI, Aug. 1 (Xinhua) — The opening ceremony of the Belt and Road Research Institute of Peking University-Xinjiang was held in Kashgar, northwest China’s Xinjiang Uygur Autonomous Region, on Friday. The establishment of the institute is aimed at further and thorough promotion of the joint construction of the Belt and Road, promoting high-quality development in Xinjiang and building a new pattern of opening up to the outside world in the region.

Vice Chairman of the Xinjiang Uygur Autonomous Region People’s Government and Secretary of the Kashgar Prefecture Party Committee Nie Zhuang delivered a speech at the event, saying that the establishment of the research institute is of great significance for both Xinjiang and Kashgar.

“I am confident that the institute will promote the integrated development of education, science and technology, as well as the training of highly qualified personnel in the region, accelerate the transformation of Kashgar into a springboard for opening up to the West, and promote modernization in Xinjiang,” he said.

Piao Shilong, vice-president of Peking University, said the university attaches great importance to the construction of the institute, integrating interdisciplinary advantages and implementing a new model of establishing research institutes away from the home campus.

“In the future, the institute will conduct in-depth research in key areas such as energy and mineral resources, ecological environment, regions and countries, historical archaeology, strengthening the consciousness of the Chinese nation and new structural economy,” Piao Shilong added.

He also noted that the institute will strive to provide reliable scientific, technological and intellectual support for the high-quality development of Xinjiang and build it into a leading talent pool and innovation hub covering Central and South Asia and countries participating in the Belt and Road Initiative. -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.

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MIL OSI Russia News –

August 5, 2025
MIL-OSI Asia-Pac: CS meets I&T stakeholders

Source: Hong Kong Information Services

The Committee on Education, Technology & Talents (CETT), led by Chief Secretary Chan Kwok-ki, met stakeholders in the innovation and technology (I&T) sector today to discuss promoting the integrated development of education, technology and talent.

At the meeting, Mr Chan introduced the CETT’s work plan to representatives from I&T parks, I&T enterprises and State Key Laboratories.

He told them that the CETT, building on the “eight centres” concept, is dedicated to cultivating and attracting talent, and aims to leverage talent chains, innovation chains, industrial chains and capital chains to drive technological and industrial innovation, with a view to advancing high-quality development and accelerating Chinese modernisation.

On the theme of attracting high-quality I&T talent, he said the CETT will lead the I&T sector in revamping its positioning and planning. Specifically, the committee will enhance the Technology Talent Admission Scheme, and introduce arrangements under the Quality Migrant Admission Scheme to bring sought-after talent to Hong Kong.

Attendees were also briefed on the Government’s establishment of a new I&T system that takes the city’s “three major I&T parks and five key research and development institutes” as its framework, and on various other initiatives to enhance the I&T ecosystem and enlarge the local I&T talent pool.

Mr Chan said: “The Government will continue to take forward the development under the principle of ‘promoting technology with talent, leading industries with technology, and attracting talent with industries’.

“The Government will also grasp the opportunities arising as the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone enters its operational phase soon and continue to expedite the development of I&T industries, to provide development opportunities for local I&T talent as well as those coming to Hong Kong.”

He added that the Government will make good use of existing talent admission schemes to promote Hong Kong as a focal point for international high-calibre talent, contributing to the I&T development of both Hong Kong and the country at large.

Secretary for Innovation, Technology & Industry Prof Sun Dong, Secretary for Education Choi Yuk-lin and Acting Secretary for Labour & Welfare Ho Kai-ming also attended today’s meeting. Prof Sun and Mr Ho briefed the stakeholders on the Government’s ongoing efforts and measures to attract I&T talent.

I&T stakeholders at the meeting expressed support for the committee’s work and said they will work with the Government to leverage industry resources in attracting global talent.

MIL OSI Asia Pacific News –

August 5, 2025
MIL-OSI Asia-Pac: Govt rejects EU’s slanderous remarks

Source: Hong Kong Information Services

The Hong Kong Special Administrative Region Government strongly opposes and disapproves of the European Union’s (EU) slanderous remarks on the Hong Kong SAR’s lawful act to pursue wanted persons who have endangered national security and absconded from the city.

In a statement today, the Hong Kong SAR Government strongly demands that the EU immediately stop acting against international law and basic norms of international relations, and stop interfering in Hong Kong matters which are purely China’s internal affairs.

It emphasised that endangering national security is a very serious offence, adding that no country will watch with folded arms on acts and activities that endanger national security.

It also noted that the “Hong Kong Parliament” is an organisation that aims to subvert state power. Its objectives include promoting “self-determination” and promulgating the so-called “Hong Kong Constitution”; and overthrowing or undermining the People’s Republic of China’s (PRC) basic system established by the PRC Constitution or overthrowing the PRC’s body of central power or the Hong Kong SAR’s body of power with unlawful means.

As such, the organisation is suspected of committing the offence of subversion contrary to Article 22 of the Hong Kong National Security Law (HKNSL).

Hence, Police applied to the court for arrest warrants in accordance with the law and placed the persons on a wanted list.

The Hong Kong SAR Government said that any suggestion that certain individuals or organisations should be immune from legal consequences for their illegal acts, including those involving collusion with foreign or external forces, is no different from advocating a special privilege to break the law.

This totally runs contrary to the spirit of the rule of law, it added.

Extraterritorial effect for offences under the HKNSL and the Safeguarding National Security Ordinance (SNSO) fully aligns with the principles of international law, international practice and common practice adopted in various countries and regions. It is both necessary and legitimate, and is also in line with those of other countries and regions around the world.

As the Hong Kong SAR’s law enforcement department safeguards national security, Police are duty-bound to pursue the liability of those who have allegedly endangered national security outside Hong Kong.

Those absconders hiding outside Hong Kong are wanted because they continue to blatantly engage in activities endangering national security. Moreover, they continue to collude with external forces to cover for their evil deeds.

It is necessary for Police to take all lawful measures to strongly combat the acts of abscondment, and such actions are fully justified, necessary and legitimate, the Hong Kong SAR Government pointed out.

It stressed that both the HKNSL and the SNSO clearly stipulate that human rights shall be respected and protected in safeguarding national security in the Hong Kong SAR.

The rights and freedoms enjoyed by Hong Kong people under the Basic Law and the provisions of the International Covenant on Civil & Political Rights (ICCPR) and the International Covenant on Economic, Social & Cultural Rights as applicable to the Hong Kong SAR are protected in accordance with the law.

Nonetheless, just as in other places in the world, many of the rights and freedoms are not absolute. The ICCPR also expressly states that certain rights and freedoms including the freedom of expression may be subject to restrictions as prescribed by law that are necessary for the protection of national security, public safety, public order, and the rights and freedoms of others.

Regarding an extremely small minority of organisations and individuals endangering national security, the Hong Kong SAR Government said that it will not condone their criminal acts and will not give up pursuing them, including adopting all practical measures to bring those fugitives endangering national security who have absconded from Hong Kong to justice.

It reiterated that absconders should not think they can evade criminal liability by absconding from Hong Kong. Ultimately, they will be held liable for their acts constituting serious offences endangering national security and be punished by the law. No country or organisation should harbour criminals nor try to exonerate these people with different excuses.

The Hong Kong SAR Government made it clear that it will, as always, resolutely, fully and faithfully implement the HKNSL, the SNSO and other relevant laws safeguarding national security in the city, to effectively prevent, suppress and impose punishment for acts and activities endangering national security in accordance with the law, while upholding the rights and freedoms of Hong Kong people in accordance with the law, in order to ensure the steadfast and successful implementation of the principle of “one country, two systems”.

MIL OSI Asia Pacific News –

August 5, 2025
Toxic metals found in Himalayan clouds, pose health risk: study

Source: Government of India

Source: Government of India (4)

A new scientific study has found that clouds drifting over the Eastern Himalayas and Western Ghats are carrying toxic heavy metals, posing potential carcinogenic and non-carcinogenic health risks, especially to children.

The study, conducted by the Bose Institute—an autonomous body under the Department of Science and Technology (DST), Ministry of Science & Technology , Government of India—found that clouds over the Eastern Himalayas contain 1.5 times higher pollution levels than those over the Western Ghats. This is largely due to emissions from heavy vehicular traffic and industrial activity in the foothill regions, the report noted.

The research team, led by Dr. Sanat Kumar Das, Associate Professor at Bose Institute, detected harmful concentrations of cadmium (Cd), chromium (Cr), copper (Cu), and zinc (Zn) in non-precipitating clouds during the onset of the monsoon season. These clouds were found to be a major medium of long-range transport of pollutants from the lowlands to high-altitude regions.

“The inhalation of cloud water laced with dissolved heavy metals is a significant exposure pathway, particularly in the Eastern Himalayas. This poses high health risks, especially among children, who are 30% more vulnerable than adults,” said Dr. Das.

Published in the journal Environmental Advances, the study used statistical models to assess health risks through multiple exposure routes, including inhalation, ingestion, and dermal absorption. It found that the presence of carcinogenic metals like dissolved chromium in the cloud water notably raises the likelihood of developing cancer and other health issues.

Despite the concerning findings, researchers noted that Indian clouds remain relatively less polluted compared to countries like China, Pakistan, Italy, and the United States. However, they cautioned that rising pollution levels and the lack of prior data on metal contamination in monsoon clouds make this an emerging public health concern.

The study challenges long-held assumptions about the purity of mountain rainwater and opens a new avenue for atmospheric and health-related research in the region.

August 5, 2025
MIL-OSI: Bitget Surges to 7.2% Global Derivatives Market Share, Ranks Top 3 Highlights Bitcoin.com Report

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Aug. 01, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, today co-releases with Bitcoin.com an educational flagship titled “Crypto Derivatives 101 – Market Breakdown: Who’s Winning the Race?” designed to help newcomers navigate the fast-growing derivatives market, the guide also highlights Bitget’s leadership as its market share doubles to 7.2% in 2025, up from 4.6% year‑to‑date.

As detailed in the newly released report, Bitget has emerged as the third-largest derivatives exchange globally by trading volume. In April 2025 alone, the platform processed $92 billion in futures volume. Bitget’s market share rose from 4.6% at the beginning of the year to 7.2%, placing it just behind Binance and OKX. While Binance continues to lead with a 38% share, Bitget’s rapid ascent reflects both strong retail engagement and increasing institutional preference, particularly for ETH-based derivatives, where Bitget has surpassed Binance in liquidity within key trading ranges.

“We believe educational access is foundational,” said Gracy Chen, CEO at Bitget. “Crypto derivatives have often been misunderstood or seen as overly complex, especially by new users. With this guide, we aim to change that. We want to make sure that both retail and institutional users feel empowered to understand, navigate, and leverage the powerful tools available to them. Bitget is proud to be leading this industry with a user-first approach, backed by AI-powered tools, liquidity innovations, and a commitment to transparency and accessibility.”

The Crypto Derivatives 101 report serves as a practical, beginner-friendly guide to understanding how derivatives work and why they matter in today’s markets. It breaks down core instruments such as futures, options, and perpetual swaps, while explaining how these tools are used for hedging, speculation, and arbitrage.

A standout feature of the report is a comprehensive comparison of centralized (CEX) and decentralized (DEX) perpetual markets, weighing factors like liquidity, slippage, fees, execution speed, and custody. Bitget, Binance, and OKX are shown to lead in areas like liquidity depth and institutional readiness, while platforms like GMX and Hyperliquid offer unmatched transparency and self-custody for DeFi-native users.

The report also includes real-world trading scenarios that help readers understand which platform type is better suited to their goals. For example, a retail trader managing small-cap positions may benefit from Bitget’s intuitive UI, low fees, and fiat on-ramps. In contrast, DeFi-native users seeking anonymity and composability may prefer permissionless DEXs. Institutions executing large block trades are shown to favor CEXs like Bitget for better capital efficiency, risk management tools, and regulatory compliance. These case studies ground the content in real-world decision-making and make the guide actionable for new users.

“The crypto industry has come a long way in terms of legitimacy, but education remains a key barrier,” said Eli Bordun, Partnership Director of Bitcoin.com. “This report breaks down step-by-step how the modern crypto markets function. Derivatives are often seen as tools for professionals — but they’re increasingly relevant for everyday users, DAOs, and even traditional financial players exploring the space. By working with Bitget to produce this report, we aim to demystify these instruments and support safe, informed participation in the market.”

The report also highlights emerging trends set to shape the next era of crypto derivatives. One key theme is the rise of tokenized real-world assets (RWAs), which are increasingly being integrated into derivatives products and yield strategies. Another is the expansion of AI-powered trading platforms, which are revolutionizing how both retail and institutional users manage portfolios, select strategies, and mitigate risk. Regulatory clarity is also improving, with frameworks like the EU’s MiCA and Singapore’s MAS paving the way for responsible innovation.

Finally, the report explores the evolution of CeDeFi (Centralized-Decentralized Finance) models, where platforms like Bitget offer the best of both worlds: secure custody and intuitive UX alongside permissionless asset access and DeFi integration.

With this report, Bitget and Bitcoin.com reaffirm their shared commitment to building a more inclusive crypto trading environment. As derivatives become increasingly central to digital finance, Bitget is positioned not only as a market leader — but as a bridge between the next generation of users and the tools that will define their financial future.

For more information, please see the full report here.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.
Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6595d449-33e8-478f-a5d3-67dc9f840558

The MIL Network –

August 5, 2025
MIL-OSI: Bitget Surges to 7.2% Global Derivatives Market Share, Ranks Top 3 Highlights Bitcoin.com Report

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Aug. 01, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, today co-releases with Bitcoin.com an educational flagship titled “Crypto Derivatives 101 – Market Breakdown: Who’s Winning the Race?” designed to help newcomers navigate the fast-growing derivatives market, the guide also highlights Bitget’s leadership as its market share doubles to 7.2% in 2025, up from 4.6% year‑to‑date.

As detailed in the newly released report, Bitget has emerged as the third-largest derivatives exchange globally by trading volume. In April 2025 alone, the platform processed $92 billion in futures volume. Bitget’s market share rose from 4.6% at the beginning of the year to 7.2%, placing it just behind Binance and OKX. While Binance continues to lead with a 38% share, Bitget’s rapid ascent reflects both strong retail engagement and increasing institutional preference, particularly for ETH-based derivatives, where Bitget has surpassed Binance in liquidity within key trading ranges.

“We believe educational access is foundational,” said Gracy Chen, CEO at Bitget. “Crypto derivatives have often been misunderstood or seen as overly complex, especially by new users. With this guide, we aim to change that. We want to make sure that both retail and institutional users feel empowered to understand, navigate, and leverage the powerful tools available to them. Bitget is proud to be leading this industry with a user-first approach, backed by AI-powered tools, liquidity innovations, and a commitment to transparency and accessibility.”

The Crypto Derivatives 101 report serves as a practical, beginner-friendly guide to understanding how derivatives work and why they matter in today’s markets. It breaks down core instruments such as futures, options, and perpetual swaps, while explaining how these tools are used for hedging, speculation, and arbitrage.

A standout feature of the report is a comprehensive comparison of centralized (CEX) and decentralized (DEX) perpetual markets, weighing factors like liquidity, slippage, fees, execution speed, and custody. Bitget, Binance, and OKX are shown to lead in areas like liquidity depth and institutional readiness, while platforms like GMX and Hyperliquid offer unmatched transparency and self-custody for DeFi-native users.

The report also includes real-world trading scenarios that help readers understand which platform type is better suited to their goals. For example, a retail trader managing small-cap positions may benefit from Bitget’s intuitive UI, low fees, and fiat on-ramps. In contrast, DeFi-native users seeking anonymity and composability may prefer permissionless DEXs. Institutions executing large block trades are shown to favor CEXs like Bitget for better capital efficiency, risk management tools, and regulatory compliance. These case studies ground the content in real-world decision-making and make the guide actionable for new users.

“The crypto industry has come a long way in terms of legitimacy, but education remains a key barrier,” said Eli Bordun, Partnership Director of Bitcoin.com. “This report breaks down step-by-step how the modern crypto markets function. Derivatives are often seen as tools for professionals — but they’re increasingly relevant for everyday users, DAOs, and even traditional financial players exploring the space. By working with Bitget to produce this report, we aim to demystify these instruments and support safe, informed participation in the market.”

The report also highlights emerging trends set to shape the next era of crypto derivatives. One key theme is the rise of tokenized real-world assets (RWAs), which are increasingly being integrated into derivatives products and yield strategies. Another is the expansion of AI-powered trading platforms, which are revolutionizing how both retail and institutional users manage portfolios, select strategies, and mitigate risk. Regulatory clarity is also improving, with frameworks like the EU’s MiCA and Singapore’s MAS paving the way for responsible innovation.

Finally, the report explores the evolution of CeDeFi (Centralized-Decentralized Finance) models, where platforms like Bitget offer the best of both worlds: secure custody and intuitive UX alongside permissionless asset access and DeFi integration.

With this report, Bitget and Bitcoin.com reaffirm their shared commitment to building a more inclusive crypto trading environment. As derivatives become increasingly central to digital finance, Bitget is positioned not only as a market leader — but as a bridge between the next generation of users and the tools that will define their financial future.

For more information, please see the full report here.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.
Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6595d449-33e8-478f-a5d3-67dc9f840558

The MIL Network –

August 5, 2025
MIL-OSI: Aemetis to Review Second Quarter 2025 Financial Results on August 7, 2025

Source: GlobeNewswire (MIL-OSI)

CUPERTINO, Calif., Aug. 01, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX) announced that the company will host a conference call to review the release of its second quarter 2025 earnings report:

Date: Thursday, August 7, 2025

Time: 11 am Pacific Time (PT)

Live Participant Dial In (Toll Free): +1-888-506-0062 entry code 655740

Live Participant Dial In (International): +1-973-528-0011 entry code 655740

Webcast URL: https://www.webcaster4.com/Webcast/Page/2211/52764

Attendees may submit questions during the Q&A (Questions & Answers) portion of the conference call.

The webcast will be available on the Company’s website (www.aemetis.com) under Investors/Conference Calls, along with the company presentation, recent announcements, and video recordings.

The voice recording will be available through August 14, 2025, by dialing (Toll Free) 877-481-4010 or (International) 919-882-2331 and entering conference ID number 52764. After August 14th, the webcast will be available on the Company’s website (www.aemetis.com) under Investors/Conference Calls.

About Aemetis

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

Company Investor Relations

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

External Investor Relations

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

The MIL Network –

August 5, 2025
India-US partnership has endured transitions and challenges: MEA

Source: Government of India

Source: Government of India (4)

India and the United States share a comprehensive global strategic partnership rooted in shared interests, democratic values, and strong people-to-people ties, a relationship that has withstood various transitions and challenges over time, the Ministry of External Affairs (MEA) said on Friday.

“India and the United States share a comprehensive global strategic partnership anchored in shared interests, democratic values, and robust people-to-people ties. This partnership has weathered several transitions and challenges. We remain focused on the substantive agenda that both countries have committed to and are confident that the relationship will continue to move forward,” MEA spokesperson Randhir Jaiswal stated during a weekly media briefing in New Delhi. His remarks came in response to a question on India-US ties following Washington’s recent tariff announcement.

Earlier this week, US President Donald Trump announced the imposition of 25 per cent reciprocal tariffs on Indian goods, along with an unspecified penalty over India’s purchases of Russian energy, effective from August 1.

“India will be paying a tariff of 25 per cent,” Trump posted on his social media platform, Truth Social.

He also warned of an additional tariff penalty on India for its continued energy trade with Russia. Trump had earlier declared that all countries purchasing Russian energy would face secondary tariffs of up to 100 per cent if Moscow failed to agree to a ceasefire in Ukraine.

Initially, the threat to India was perceived by experts as a negotiating tactic aimed at expediting a trade agreement. Both Trump and Commerce Secretary Howard Lutnick had recently indicated optimism about reaching a deal with India, describing it as one of the first countries likely to finalize an agreement.

–IANS

August 5, 2025
ENG vs IND, 5th Test: India collapse again to leave England in charge

Source: Government of India

Source: Government of India (4)

India’s lower order collapsed again on Friday as, after resuming at 204-6, they were skittled for 224 by England in less than half an hour at The Oval to leave their chances of finding the win they need to square the series hanging by a thread.

India’s tail has been their weak link all series but the middle order also failed to build on a decent end to Thursday’s play as pace bowler Josh Atkinson took five wickets on his return to action having not played a test since May.

Josh Tongue continued with his all or nothing approach from last night, spraying a ball wildly beyond the wicketkeeper for four byes then getting Karun Nair lbw for 57 to get England moving.

Washington Sundar, who showed such patience in his rearguard century to help save the fourth test, forgot that approach and tamely pulled straight to Jamie Overton to depart for 26 as the two remaining recognised batsmen went after adding a total of 11 runs off the bat between them on Friday.

Atkinson then bowled Mohammed Siraj and had Prasidh Krishna caught behind, both for ducks, to finish with 5-33 from 21.4 overs in his first appearance of the series.

Earlier the ECB said that all-rounder Chris Woakes will miss the remainder of the match after suffering a shoulder injury while fielding late on Thursday.

August 5, 2025
CBI secures deportation of fugitive Udit Khullar from UAE in Rs 4.5 crore bank fraud case

Source: Government of India

Source: Government of India (4)

In a major breakthrough in an ongoing financial fraud investigation, the Central Bureau of Investigation (CBI) has secured the deportation of Udit Khullar, a fugitive wanted in connection with a ₹4.55 crore bank fraud case, from the United Arab Emirates (UAE).

Khullar, who had been absconding and was geo-located in the UAE, was brought back to India on August 1, 2025, as a deportee via Indira Gandhi International Airport, Delhi. His return was made possible through coordinated efforts between the CBI’s International Police Cooperation Unit (IPCU) and the National Central Bureau (NCB) in Abu Dhabi, under the framework of INTERPOL.

The accused was wanted by the Delhi Police in a case registered at the Adazan Police Station, Special Cell, on charges of criminal conspiracy, cheating, and forgery. According to the investigation, Khullar, in collusion with his associates, obtained fraudulent bank loans totaling ₹4.55 crore by submitting forged property documents to both nationalised and private banks. The properties used as collateral were found to be fictitious or not owned by the accused.

CBI initiated the process of tracking Khullar after receiving input about his location abroad. Following his arrest in the UAE, the Bureau formally requested his deportation, which was granted by the UAE authorities.

The CBI, acting as India’s National Central Bureau for INTERPOL, has intensified international cooperation through its platform BHARATPOL, facilitating the return of over 100 wanted criminals to India in recent years via INTERPOL channels.

August 5, 2025
MIL-OSI United Nations: Japan and WFP provide emergency food assistance to families impacted by floods and droughts in Burundi

Source: World Food Programme

BUJUMBURA – The United Nations World Food Programme (WFP) has welcomed a contribution of US$1 million from the Government of Japan to provide lifesaving food assistance to 18,000 people affected by floods and droughts in Burundi.

A ceremony was held in Bujumbura today to mark the contribution. The ceremony was attended by Mr Pontien Hatungimana, Burundi’s Permanent Secretary to the Minister of National Solidarity, Social Affairs, Human Rights, and Gender, H.E. Mr Isao Fukushima, Ambassador of Japan to Burundi and Jean-Noël Gentile, WFP’s Country Director in Burundi.

“Frequent floods and droughts are shattering livelihoods and worsening food insecurity in Burundi, particularly within rural communities, where more than 85 percent of the population relies on subsistence farming for survival,” said Jean-Noël Gentile, WFP’s Country Director in Burundi. “This generous contribution from the Government of Japan is vital in supporting the daily food needs of vulnerable people as they rebuild their lives.”

From September 2023 to June 2024, heavy rain caused floods and landslides in Bujumbura and Burunga Provinces, affecting more than 300,000 people and displacing over 47,000. Meanwhile, drought conditions caused by below-average rainfall in Butanyerera Province resulted in crop and income losses for smallholder farmers.

“I am pleased to proceed to today’s ceremony. This project aims at providing food assistance to the most vulnerable people in Burundi based on the philosophy of Human Security. I sincerely hope that with the expertise of WFP in Burundi, as many Burundians as possible could spend better lives in dignity,” said H.E. Mr Isao Fukushima, Ambassador of Japan to Burundi. “Japan has been a good partner of WFP in Burundi, and we have implemented eight joint projects since 2010.”

The Government of Japan is a major contributor to WFP in Burundi, providing more than US$12 million in support since 2019.

# # #

The United Nations World Food Programme is the world’s largest humanitarian organization saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change.

Follow us on X (formerly Twitter) via @WFP_Africa

MIL OSI United Nations News –

August 5, 2025
MIL-OSI Analysis: Why Donald Trump has stopped some conflicts but is failing with Ukraine and Gaza

Source: The Conversation – UK – By Stefan Wolff, Professor of International Security, University of Birmingham

In yet another twist in his unpredictable decision making, US president Donald Trump has dramatically shortened his original 50-day ultimatum to Vladimir Putin to call a ceasefire in Ukraine to a mere ten days. It’s an unmistakable sign of Trump’s frustration with the Russian leader who he now appears to view as the main obstacle to ending the war.

Progress has been similarly limited on another of Trump’s flagship foreign policy projects: ending the war in Gaza. As a humanitarian catastrophe engulfs the territory, Trump and some of his Maga base are finally challenging Israel’s denials that, after almost two years of war, many Gazans now face a real risk of starvation.

In neither case have his efforts to mediate and bring an end to the violence borne any fruit. But not all of Trump’s efforts to stop violence in conflicts elsewhere in the world have been similarly futile. The administration brokered a ceasefire between Rwanda and the Democratic Republic of Congo (DRC), which the two countries’ foreign ministers signed in Washington on June 27.

The US president has also claimed to be behind the ceasefire between India and Pakistan in May after the two sides had engaged in several days of fierce combat following a terror attack in Indian-administered Kashmir by a Pakistan-backed rebel group. And, drawing a clear parallel between this conflict and the border clashes between Cambodia and Thailand in July, Trump announced he had pushed both countries’ leaders to negotiate a ceasefire.

All of these ceasefires, so far, have held. By contrast, the ceasefire in the war between Israel and Hamas in Gaza, to which Trump contributed in January, even before he was inaugurated for his second term, broke down in March and fighting has escalated ever since. A short-lived ceasefire in Ukraine in April was barely worth its name given the countless violations.

Mixed record

Three factors can explain Trump’s mixed record of peacemaking to date. First, the US president is more likely to succeed in stopping the fighting where he has leverage and is willing to use it to force foreign leaders to bend to his will. For example, Trump was very clear that there would be no trade negotiations with Thailand or Cambodia “until such time as the fighting STOPS”.

The crucial difference, so far, with the situation in the war against Ukraine is that Trump has, and has used, similar leverage only with the Ukrainian president, Volodymyr Zelensky. This led to a US-Ukraine agreement on a 30-day ceasefire proposal just two weeks after the now-notorious row between Trump and Zelensky in the Oval Office.

The mere threat of sanctions against Russia, by contrast, has done little to persuade Putin to accept whatever deal might Trump offer him. Trump’s threats – which he has never followed through on – did not work in January or May. The Kremlin’s initial reactions to the latest ultimatum from the White House do not indicate a change in Putin’s attitude.

A second factor that may explain why Trump has had peacemaking success in some cases but not others is the level of complexity of US interests involved. When it comes to US relations with Russia and Israel, there is a lot more at stake for Trump.

The US president still appears keen to strike a grand bargain with Russia and China under which Washington, Beijing and Moscow would agree to recognise, and not interfere in, their respective spheres of influence. This could explains his hesitation so far to follow through on his threats to Putin.

Similarly, US interests in the Middle East – whether it’s over Iran’s nuclear programme or relations with America’s Gulf allies – have put strains on the alliance with Israel. Trump also needs to weigh carefully the impact of any move against, or in support of, Israel on his domestic support base.

In the deal Trump brokered between Rwanda and the DRC, the issues at stake were much simpler: access for US investors to the mineral riches of the eastern DRC. Just days into his second term, Trump acknowledged that the conflict was a “very serious problem”. Congo’s president, Felix Tshisekedi, responded by offering the US access to minerals in exchange for pushing Rwanda to a deal to end the invasion and stop supporting proxy forces in the DRC.

This leads to the third factor that has enabled Trump’s peace-making success so far: simpler solutions are easier to achieve. Thailand and Cambodia and India and Pakistan can go back to the situation before their recent fighting. That does not resolve any of the underlying issues in their conflicts, but returns their relations to some form of non-violent stability.

It is ultimately also in the interests of the conflict parties. They have had a chance to make their violent statements and reinforce what they will and won’t tolerate from the other side. The required investment by an external mediator to end battles that have achieved what the warring sides want anyway – to avoid further escalation – is consequently quite limited.

Complex conflicts

Getting to any kind of stability in Ukraine or the Middle East by contrast requires prolonged engagement and attention to detail. These conflicts are at a stage in which a return to how things were before is not in the interests of the parties or their external backers. Nudging warring parties along on the path to agreement under such conditions requires a well-designed process, which is absent in Ukraine and failing in Gaza.

Thanks to funding and personnel cuts, the US secretary of state, Marco Rubio, is now required to perform multiple roles. Trump relies on personal envoys with at best limited foreign policy expertise, while insisting he makes all the decisions. This ultimately suggests that the White House simply may not have the bandwidth for the level of engagement that would be necessary to get to a deal in Ukraine and the Middle East.

This is a self-inflicted opportunity lost, not only for the United States but also for the long-suffering people of Ukraine and the Middle East.

Stefan Wolff is a past recipient of grant funding from the Natural Environment Research Council of the UK, the United States Institute of Peace, the Economic and Social Research Council of the UK, the British Academy, the NATO Science for Peace Programme, the EU Framework Programmes 6 and 7 and Horizon 2020, as well as the EU’s Jean Monnet Programme. He is a Trustee and Honorary Treasurer of the Political Studies Association of the UK and a Senior Research Fellow at the Foreign Policy Centre in London.

– ref. Why Donald Trump has stopped some conflicts but is failing with Ukraine and Gaza – https://theconversation.com/why-donald-trump-has-stopped-some-conflicts-but-is-failing-with-ukraine-and-gaza-262241

MIL OSI Analysis –

August 5, 2025

MIL-OSI Banking: RBI to conduct 7-day Variable Rate Reverse Repo (VRRR) auction under LAF on August 01, 2025

Source: Reserve Bank of India

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on Friday, August 01, 2025, as under:

Sl. No.	Notified Amount (₹ crore)	Tenor (day)	Window Timing	Date of Reversal
1	2,00,000	7	9:30 AM to 10:00 AM	August 08, 2025 (Friday)

2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2025-2026/819

MIL OSI Global Banks –

August 5, 2025

Trump tariffs face key test at US appeals court

Source: Government of India

Source: Government of India (4)

A U.S. appeals court on Thursday will review President Donald Trump’s power to impose tariffs, after a lower court said he exceeded his authority with sweeping levies on imported goods.

The U.S. Court of Appeals for the Federal Circuit in Washington, D.C., will consider the legality of “reciprocal” tariffs that Trump imposed on a broad range of U.S. trading partners in April, as well as tariffs imposed in February against China, Canada and Mexico.

A panel of all of the court’s active judges, eight appointed by Democratic presidents and three appointed by former Republican presidents, will hear arguments scheduled to begin at 10 a.m. ET in two cases brought by five small U.S. businesses and 12 Democratic-led U.S. states.

The arguments – one day before Trump plans to increase tariff rates on imported goods from nearly all U.S. trading partners – mark the first test before a U.S. appeals court of the scope of his tariff authority. The president has made tariffs a central instrument of his foreign policy, wielding them aggressively in his second term as leverage in trade negotiations and to push back against what he has called unfair practices.

The states and businesses challenging the tariffs argued that they are not permissible under emergency presidential powers that Trump cited to justify them. They say the U.S. Constitution grants Congress, and not the president, authority over tariffs and other taxes.

Trump claimed broad authority to set tariffs under the International Emergency Economic Powers Act (IEEPA), a 1977 law historically used for sanctioning enemies or freezing their assets. Trump is the first president to use it to impose tariffs.

Trump has said the April tariffs were a response to persistent U.S. trade imbalances and declining U.S. manufacturing power.

He said the tariffs against China, Canada and Mexico were appropriate because those countries were not doing enough to stop illegal fentanyl from crossing U.S. borders. The countries have denied that claim.

On May 28, a three-judge panel of the U.S. Court of International Trade sided with the Democratic states and small businesses that challenged Trump. It said that the IEEPA, a law intended to address “unusual and extraordinary” threats during national emergencies, did not authorize tariffs related to longstanding trade deficits.

The Federal Circuit has allowed the tariffs to remain in place while it considers the administration’s appeal. The timing of the court’s decision is uncertain, and the losing side will likely appeal quickly to the U.S. Supreme Court.

The case will have no impact on tariffs levied under more traditional legal authority, such as duties on steel and aluminum imports.

Trump’s on-again, off-again tariff threats have roiled financial markets and disrupted U.S. companies’ ability to manage supply chains, production, staffing and prices.

The president recently announced trade deals that set tariff rates on goods from the European Union and Japan, following smaller trade agreements with Britain, Indonesia and Vietnam. Trump’s Department of Justice has argued that limiting the president’s tariff authority could undermine ongoing trade negotiations, while other Trump officials have said that negotiations have continued with little change after the initial setback in court.

Trump has set an August 1 date for higher tariffs on countries that don’t negotiate new trade deals.

There are at least seven other lawsuits challenging Trump’s invocation of IEEPA, including cases brought by other small businesses and California.

A federal judge in Washington, D.C., ruled against Trump in one of those cases, and no judge has yet backed Trump’s claim of unlimited emergency tariff authority.

(Reuters)

August 5, 2025
MIL-OSI: The Bull Market Is Back! Enjoy 100x Leverage, 100% Deposit Bonus, and No KYC on BexBack
Source: GlobeNewswire (MIL-OSI)

SINGAPORE, July 31, 2025 (GLOBE NEWSWIRE) — BexBack Exchange has launched an aggressive new promotion to empower both new and seasoned crypto traders: All eligible new users receive a $50 welcome bonus and a 100% deposit bonus match. As the crypto market braces for another period of high volatility, BexBack is making futures trading more accessible and profitable than ever. With up to 100x leverage, zero KYC requirements, and support for over 50 digital assets, the platform provides an ideal environment for those seeking to capitalize on market swings without large upfront capital.

Advantages of 100x Leverage Crypto Futures
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How Does the 100% Deposit Bonus Work?
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About BexBack?

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Website: www.bexback.com

Contact: business@bexback.com

Contact:
Amanda
business@bexback.com

Disclaimer: This content is provided by BexBack.The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

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The MIL Network –
August 5, 2025
President Murmu graces first convocation of AIIMS Deoghar, emphasizes inclusive healthcare

Source: Government of India

Source: Government of India (4)

President Droupadi Murmu attended the first convocation ceremony of the All India Institute of Medical Sciences (AIIMS) Deoghar on Thursday, where she urged graduating doctors to embrace compassion, community engagement, and inclusive healthcare alongside clinical excellence.

Addressing students, faculty, and dignitaries, President Murmu highlighted the importance of expanding AIIMS Deoghar’s focus beyond tertiary care to actively support primary healthcare delivery. “Primary care is the foundation of universal health coverage,” she said, calling on doctors and students to collaborate with Urban Primary Health Centres and Rural Community Health Centres to strengthen grassroots-level healthcare services.

President Murmu reminded graduates that an AIIMS education is widely seen as a hallmark of excellence and urged them to pair their skills with empathy. “A good doctor is not just one with clinical knowledge, but one with a sharp clinical sense and sensitive communication skills,” she noted. Emphasizing the emotional aspect of caregiving, she said, “Be clinical in diagnosis or surgery, but not clinical in your behaviour. Be sympathetic and offer advice with compassion.”

The President also underscored the role of AIIMS and its healthcare professionals in the national effort to reduce out-of-pocket health expenditure. She stressed that institutions like AIIMS Deoghar must contribute both institutionally and individually to this goal. She encouraged all stakeholders at AIIMS Deoghar to align their efforts with India’s Sustainable Development Goals (SDGs) related to health. “Evaluate the progress of India and Jharkhand on these goals and determine how the institute can contribute further,” she suggested.

Calling AIIMS Deoghar a beacon of hope in bridging the gap in healthcare accessibility, President Murmu said such institutions are vital to fulfilling the nation’s ambitious health targets. “AIIMS institutions have been set up to reduce disparities in healthcare. They must not only provide world-class specialist treatment at low cost but also act as agents of transformation in the healthcare ecosystem,” she said.

August 5, 2025
MIL-OSI Africa: African countries make bold commitments to end preventable deaths of children under five by 2030
Source: APO

African countries have made bold pledges to address the continent’s maternal and child mortality crisis, as a challenging health landscape, shrinking resources, climate change and conflict threaten to reverse decades of progress in child survival.

Nearly five million children (https://apo-opa.co/44TWUFA) die from preventable causes before the age of five every year. Close to 60 per cent of these deaths occur in Africa, many of them caused by infectious diseases such as pneumonia, diarrhea, malaria and meningitis. This is despite the existence of proven interventions such as vaccines, which have saved 154 million lives (https://apo-opa.co/4l6542n) over the past 50 years

As the 2030 Sustainable Development Goals (SDGs) deadline looms, African governments are now doubling down on their commitments to end preventable deaths of children under five as envisioned by the global goals over the next five years.

Speaking during the just concluded Innovation and Action for Immunization and Child Survival Forum 2025 (www.ChildHealthForum2025.com), which took place in Maputo, Mozambique, representatives from various African countries joined the co-hosting Governments of Mozambique and Sierra Leone and partners including the Government of Spain, the “la Caixa” Foundation, the Gates Foundation and UNICEF in sharing their commitments to prioritize child survival.

Addressing participants during the official opening ceremony, H.E Daniel Chapo, President of the Republic of Mozambique, said: “The Convention on the Rights of the Child establishes that all children have the right to survive and grow up healthy. Mozambique has made notable progress in safeguarding these rights, reducing child mortality from 201 to 60 per 1,000 live births between 1997 and 2022. These gains are the result of decades of structural investments in maternal and child health – one of the key pillars of our Government’s Five-Year Plan 2025–2029.”

Despite such promising progress, Africa is still home to the majority of countries that are off-track to meet the SDGs. Noting this, government representatives and partners called for bold action to strengthen regional leadership; establish robust accountability; address inequities and mobilize sustainable financing.

“This is a defining moment for Africa; one of the greatest opportunities for resilience and strong African leadership. This forum brought us together not to discuss challenges, but to inspire action and save children’s lives. We have the tools, the science, the vaccines, diagnostics and treatments. What we need now is political commitment, suitable access, timely care and sustained investments across the continuum of care to enable us to accelerate progress toward the future we envision,” Hon. Dr. Austin Demby, Minister of Health, Sierra Leone.

Stakeholders at the three-day forum also advocated for deeper, more effective multistakeholder collaboration to enhance resourcing of primary health care and integration of child survival services.

“We are calling on stakeholders to prioritize high-impact, high-return interventions alongside mobilizing resources for child survival to build sustainability and efficiency within health systems. This will translate into significant gains not just for families and communities, but for economies and the continent as a whole,” said Hon. Dr. Ussene Isse, Minister of Health of Mozambique.

Acknowledging the urgent need to prioritize reaching the most vulnerable and marginalized communities with the full range of maternal health and child survival interventions across primary health care, immunization, nutrition, and disease prevention programs, countries and partners united in a joint Call to Action and commitments to:
- Strengthen regional leadership: Foster partnerships between national and regional health organizations including the African Union, Africa Centres for Disease Control and Prevention (Africa CDC), West African Health Organization (WAHO), East, Central and Southern Africa Health Community (ECSA-HC), and other stakeholders with capacity to contribute to child survival.
- Establish robust accountability: Ensure governments, partners, and civil society are held accountable for their child survival commitments at national, regional, and global levels, and report progress regularly.
- Address inequities: Focus on the most vulnerable children, particularly in Sub-Saharan Africa and South Asia, by removing barriers to care, improving maternal education, and addressing risk factors such as malnutrition, lack of access to safe water, sanitation, and hygiene, and air pollution, especially household.
- Mobilize sustainable financing: Increase domestic and international funding for child survival, prioritizing cost-effective interventions and life-saving commodities that strengthen health systems, and securing sustainable financing solutions for reaching the most vulnerable groups, including in fragile and conflict affected states. Ensure these resources are flexible, to reduce fragmentation and direct funds where and when they’re needed most.
- Invest in Primary Health Care (PHC): Increase domestic investment in resilient PHC systems, including at the community level. This includes securing continuum of care, appropriate referral systems, and quality of care at primary and referral level; equipping health facilities with diagnostic tools and essential medicines for pneumonia, malaria, and diarrhea, as well as sustainable energy sources and internet to support diagnostics, therapeutics, and data sharing; strengthening multi-sectoral partnerships, and training health workers to promptly diagnose and treat childhood infections and malnutrition.
- Invest decisively in prevention, preparedness, and response to public health emergencies, especially cholera, as a strategic priority. This includes strengthening multi-sectoral coordination, domestic financing, WASH infrastructure, critical supplies, community engagement, and humanitarian access. Without such investment, routine health services will remain vulnerable to repeated and severe disruptions.
- Accelerate vaccine coverage: Achieve and sustain >90% coverage of life-saving vaccines, including pneumococcal conjugate vaccine (PCV), diphtheria, tetanus, and pertussis (DTP), measles, rotavirus, malaria, meningitis, and typhoid vaccines, prioritizing zero-dose children and integrating vaccine delivery with nutrition and other high-impact child health services—with partnerships facilitating cross-sectoral collaboration—to reach the most vulnerable.
- Integrate the delivery of child survival services to improve access, acceptability, and cost-effectiveness: Explore opportunities to deliver child survival interventions and innovations through existing community-based platforms, and identify where continuous care can occur across maternal, newborn and child health care provisions.
- Enhance surveillance and innovation: Leverage data from initiatives like the Child Health and Mortality Prevention Surveillance (CHAMPS) Network to anticipate and respond to epidemiological trends, inform targeted interventions and accelerate the development and deployment of new tools.
“We have a shared responsibility to ensure that every child has a chance to live and thrive. As we make these promises to Africa’s children, we must—governments, partners and civil society— hold each other accountable for these child survival commitments at national, regional, and global levels, report progress regularly, and act decisively to close gaps in child survival so that no child dies from a preventable infectious disease,” said Theo Sowa, Chairperson of the Forum.

For the detailed Call to Action and 13 Country Commitments, click here (https://apo-opa.co/44VOOfD).

Distributed by APO Group on behalf of Innovation and Action for Immunization and Child Survival Forum 2025.

For interview requests, please contact:
For Mozambique-based media:
maider.mavie@ins.gov.mz

For regional and international media:
wgaitho@globalhealthstrategies.com and wkariuki@globalhealthstrategies.com

About the Innovation and Action for Immunization and Child Survival Forum 2025:
The Innovation and Action for Immunization and Child Survival Forum 2025 brought together stakeholders across selected countries in sub-Saharan Africa and other regions including senior health ministry officials, development agencies, donors, academia, civil society, and the private sector. It focused on new and underutilized tools to deliver progress on child survival, more effective infectious disease risk mitigation and surveillance strategies, more efficient models of service delivery, the need for robust prioritization exercises including for routine immunization systems and new vaccine introductions, and innovative child survival financing options.

The forum was co-hosted by the Governments of Mozambique and Sierra Leone, and partners including the Government of Spain, the ”la Caixa” Foundation, the Gates Foundation and UNICEF.

For more information on the forum, visit: www.ChildHealthForum2025.com

Media files

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MIL OSI Africa –
August 5, 2025
MIL-OSI Africa: 2025 Country Focus Report: Burkina Faso urged to make better use of national resources to finance its development
Source: APO

The African Development Bank’s 2025 Country Focus Report for Burkina Faso (www.AfDB.org), the national version of the African Economic Outlook, was officially launched on 18 July 2025 in Ouagadougou.

The ceremony was chaired by Souleymane Nabolé, Technical Advisor, representing the Minister of Economy and Finance, in the presence of Daniel Ndoye, the Bank Group’s Country Manager for Burkina Faso. Run virtually, the session brought together more than 80 participants from the public administration, technical and financial partners, the research community and the private sector, as well as Bank executives.

In a video message, Professor Kevin Urama, Chief Economist and Vice President for Economic Governance and Knowledge Management at the African Development Bank, reiterated that Country Focus Reports are designed to inform national policies and foster dialogue between states and their partners.

The 2025 edition of the report focuses on the theme: “Making Burkina Faso’s Capital Work Better for its Development.” It analyses the country’s recent macroeconomic performance amid a complex security and humanitarian crisis, while presenting medium-term prospects and strategic directions to accelerate economic transformation.

According to the Bank, the Burkinabe economy continued to expand in 2024, despite persistent security, humanitarian, and climate-related challenges. Burkina Faso is blessed in terms of natural, human, entrepreneurial, and financial capital, which if fully taken advantage of could bridge the country’s financing gap.

The Burkinabe government concurs with this analysis. According to Nabolé: “Macroeconomic indicators are improving, with growth estimated at five per cent in 2024. To have a significant impact on the social front, we need to think about how the transformation of the Burkinabe economy can be achieved by drawing on human, natural, and financial resources, socio-economic infrastructure, and governance.”

To bridge the financing gap, the report proposes several courses of action, including:
- Improving agricultural productivity and promoting agro-industrial development
- Strengthening mining revenue collection mechanisms and combating illicit financial flows
- Enhancing access to education, health care, and vocational training
- Building the capacities of the tax and customs administrations and the Ministry of Mines
- Enhancing state oversight bodies, modernising the judicial system, and improving forest management.
Abdoulaye Diop, President of the West African Economic and Monetary Union Commission, praised the Bank’s holistic approach stating that it “maximises the conditions for success and improved performance of national economies.”

He also highlighted the resilience of the Burkinabe economy, which has remained robust despite a difficult security environment. “In terms of domestic resource mobilisation, Burkina Faso is currently the best performer in our Union with a tax ratio of nearly 19 per cent. In addition, for several years now, it has been one of the countries most committed to implementing Union legislation. That deserves the attention of partners.”

Specific presentations focused on the need to strengthen the harnessing of domestic resources to offset the decline in external aid and financing, to make better use of human capital, to develop mineral resources to fund development, and to improve governance in the way in which various forms of capital are managed.

At the end of the session, Ndoye expressed his delight at the elevated level of participation and the quality of the discussions. “We commend the country’s performance, particularly in terms of harnessing resources,” he said, concluding, “We noted a convergence between the report’s conclusions and recommendations and the strategies currently being implemented in Burkina Faso, particularly those with a focus on human capital.

In parallel, Nabolé reiterated the Burkinabe government’s satisfaction with the quality of its cooperation with the African Development Bank.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media contact:
Communication and External Relations Department
media@afdb.org

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

Media files

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MIL OSI Africa –
August 5, 2025
MIL-OSI Africa: Holding on through multiple displacement: A journey of strength and survival amid conflict in Sudan

Source: APO

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In the crowded gathering site at Al-Zaeem Al-Azhari School in Port Sudan, 41-year-old Marwa Hassan Saeed holds her daughter close—both weary from a long, painful journey of displacement. Once a teacher at an international school in Khartoum, Marwa’s life was upended by conflict and crisis. A divorced mother of four, she has faced each challenge alone, including the daily struggles of caring for her youngest daughter, who lives with cerebral atrophy.

Life was already difficult, but the outbreak of violence in mid-April 2023 turned it into a series of desperate moves. From Khartoum to Northern State, then to Madani, and finally to Port Sudan, Marwa and her children fled time and again to seek safety. Each step of the way, resources grew scarcer, hope harder to hold onto. Since the start of the current conflict, which has persisted for two years now, large numbers of civilians have been forced to flee, including people who were already internally displaced. As of 5 June 2025, over 7.7 million people have been internally displaced across Sudan, many of them uprooted multiple times as the conflict continues to escalate (Sudan situation). In Madani, Marwa’s family had found a fragile sense of stability—until fighting erupted again. Displaced for the third time, Marwa arrived in Port Sudan with little more than her determination to keep her children safe. Her daughter, who typically gained only one kilogram per year due to her condition, lost half her body weight during the journey—her small body weakened by stress, malnutrition, and the complete absence of medical care.

In Port Sudan, the family finally found a moment of relief, a much-needed support with kitchen ware. In February and March, right before the holy month of Ramadan, Marwa received essential kitchen supplies through a distribution led by UN Women in a partnership with SCEFA and with funding from the Government of Japan. This support enabled her to cook meals for her family and participate in communal food-sharing traditions—an especially important practice during Ramadan, when families and neighbors gather around large, shared plates to break their fast together. For Marwa, the distribution restored not just her ability to feed her children, but also her sense of dignity and connection to her community. Before the intervention, Marwa struggled to prepare proper meals for her children due to a complete lack of basic cooking utensils. With only limited items available in the overcrowded gathering site, preparing and sharing food, especially in a culturally appropriate way, was nearly impossible

“The cooking utensils I received made such a difference,” Marwa shared. “When you are a mother trying to care for children in a place that is not your home, even the smallest support helps you stand again. I’m not the only one. There are so many women here who have lost everything and still wake up every morning to provide for their families. We just need a little more help to keep going.”

Despite all she has endured, Marwa continues to show remarkable resilience. Her story is a testament to the courage of displaced women across Sudan who, even in the face of unimaginable hardship, continue to care for their children and rebuild their lives.

Distributed by APO Group on behalf of UN Women – Africa.

MIL OSI Africa –

August 5, 2025
MIL-OSI United Kingdom: TRA proposes keeping anti-dumping measure on bikes from China
Source: United Kingdom – Executive Government & Departments

Press release

TRA proposes keeping anti-dumping measure on bikes from China

The TRA proposes that an anti-dumping measure on bicycles and bicycle parts from China be maintained, benefitting UK producers by up to £9 million per year.
The Trade Remedies Authority (TRA) has today (31 July 2025) published its initial findings proposing that an anti-dumping measure on bicycles and certain bicycle parts imported from China be maintained until 30 August 2029.

Maintaining these measures will help to protect the UK’s bicycle industry, which includes many small and medium sized businesses employing thousands of people, from unfair international trade practices.

In its Statement of Essential Facts, the TRA found that the dumping initially identified at the time the measures were first established would (as a result of China’s increased production capacity) likely resume if the measure was removed and that injury to UK industry would be likely as a result. The TRA determined that extending the current measure could help prevent dumping of low-priced bicycles and benefit UK producers by £1-£9 million per year.

Current anti-dumping duties on Chinese bicycle and bicycle parts imports range from 19.2% to 48.5%, depending on the exporter.

As part of its investigation, the TRA considered whether the anti-dumping measure should be maintained only on bicycles but removed on bicycle parts. However, the TRA has not presented this as an option due to the lack of clear evidence from industry participants and the continued risk of circumvention if the duties on parts were removed.

A period of consultation is now open, during which interested parties can comment on the findings and provide any additional evidence, before a final recommendation is made to the Secretary of State. Businesses that may be affected by these findings can submit comments to the TRA by 25 August 2025 and can do so through the TRA’s public file.

Background Information

The initial findings published today follow a transition review that was initiated on 23 August 2024.

The reviewed products include bicycles and certain essential bicycle parts such as frames, wheels, handlebars, and brake components from China, including bicycles consigned from Cambodia, Indonesia, Malaysia, Pakistan, the Philippines, Sri Lanka and Tunisia.

In its investigation, the TRA found that China produces the greatest volume of bicycles in the world, estimated to account for 60% of global production. This equated to over 48 million bicycles in 2023 and the TRA found evidence to suggest this production capacity is growing.

Around 1.6 million bicycles are sold in the UK each year, with China accounting for around 24% of bicycle imports by volume during the period of investigation.

The Trade Remedies Authority is the independent UK body that investigates whether new trade remedy measures are needed to counter unfair import practices and unforeseen surges of imports.  

The TRA is an arm’s length body of the Department for Business and Trade.  

Anti-dumping duties allow a country or union to act against goods which are being sold at less than their normal value – this is defined as the price for ‘like goods’ sold in the exporter’s home market. 

The period of investigation (POI) for the review was 01 July 2023 to 30 June 2024. To assess injury, the TRA chose the period from 01 July 2020 to 30 June 2024 as the injury period (IP).

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Published 31 July 2025
MIL OSI United Kingdom –
August 5, 2025

Category: Asia Pacific

Mixed record

Complex conflicts

TRA proposes keeping anti-dumping measure on bikes from China

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