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Category: Asia Pacific

  • MIL-OSI Asia-Pac: External merchandise trade statistics for March 2025

    Source: Hong Kong Government special administrative region

    External merchandise trade statistics for March 2025 
         In March 2025, the value of total exports of goods increased by 18.5% over a year earlier to $455.5 billion, after a year-on-year increase by 15.4% in February 2025. Concurrently, the value of imports of goods increased by 16.6% over a year earlier to $500.9 billion in March 2025, after a year-on-year increase by 11.8% in February 2025. A visible trade deficit of $45.4 billion, equivalent to 9.1% of the value of imports of goods, was recorded in March 2025.
     
         For the first quarter of 2025 as a whole, the value of total exports of goods increased by 10.9% over the same period in 2024. Concurrently, the value of imports of goods increased by 9.8%. A visible trade deficit of $80.7 billion, equivalent to 6.4% of the value of imports of goods, was recorded in the first quarter of 2025.
     
         Comparing the first quarter of 2025 with the preceding quarter on a seasonally adjusted basis, the value of total exports of goods increased by 12.7%. Meanwhile, the value of imports of goods increased by 9.9%.
     
    Analysis by country/territory
     
         Comparing March 2025 with March 2024, total exports to Asia as a whole grew by 22.4%. In this region, increases were registered in the values of total exports to some major destinations, in particular Taiwan (+61.3%), Malaysia (+57.3%), Vietnam (+41.3%), the Philippines (+34.5%) and the mainland of China (the Mainland) (+25.4%). On the other hand, a decrease was recorded in the value of total exports to Korea (-22.8%).
     
         Apart from destinations in Asia, increases were registered in the values of total exports to some major destinations in other regions, in particular the United Kingdom (+48.5%) and the USA (+11.4%). On the other hand, a decrease was recorded in the value of total exports to the Netherlands (-29.0%).
     
         Over the same period of comparison, increases were registered in the values of imports from some major suppliers, in particular Vietnam (+95.1%), Taiwan (+75.8%), the United Kingdom (+55.6%), Malaysia (+46.9%) and the Mainland (+7.4%). On the other hand, a decrease was recorded in the value of imports from Korea (-21.0%).
     
         For the first quarter of 2025 as a whole, increases were registered in the values of total exports to some major destinations, in particular Vietnam (+69.1%), Taiwan (+40.6%) and the Mainland (+16.2%). On the other hand, decreases were recorded in the values of total exports to the United Arab Emirates (-36.9%) and India (-20.2%).
     
         Over the same period of comparison, increases were registered in the values of imports from some major suppliers, in particular Vietnam (+68.9%), the United Kingdom (+57.4%), Taiwan (+53.9%), Malaysia (+47.6%) and the Mainland (+4.1%). On the other hand, a decrease was recorded in the value of imports from Korea (-23.6%).
     
    Analysis by major commodity
     
         Comparing March 2025 with March 2024, increases were registered in the values of total exports of some principal commodity divisions, in particular “office machines and automatic data processing machines” (by $51.2 billion or +133.5%) and “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $20.8 billion or +11.1%). 
     
         Over the same period of comparison, increases were registered in the values of imports of some principal commodity divisions, in particular “office machines and automatic data processing machines” (by $44.4 billion or +130.8%) and “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $22.2 billion or +11.5%).
     
         For the first quarter of 2025 as a whole, increases were registered in the values of total exports of some principal commodity divisions, in particular “office machines and automatic data processing machines” (by $86.7 billion or +82.6%) and “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $43.3 billion or +8.6%).  On the other hand, a decrease was registered in the value of total exports of “telecommunications and sound recording and reproducing apparatus and equipment” (by $12.1 billion or -9.0%).
     
         Over the same period of comparison, increases were registered in the values of imports of some principal commodity divisions, in particular “office machines and automatic data processing machines” (by $74.8 billion or +91.1%) and “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $52.4 billion or +10.6%). On the other hand, a decrease was registered in the value of imports of “non-metallic mineral manufactures” (by $10.0 billion or -24.0%).
     
    Commentary
     
         A Government spokesman said that the value of merchandise exports grew sharply by 18.5% in March over a year earlier.  Exports to the Mainland grew strongly, while those to other major Asian economies showed mixed performance. Exports to the United States increased visibly, and those to the European Union registered a marginal increase.
     
         Looking ahead, global trade tensions have escalated abruptly due to the significant increases in tariffs by the United States in early April. This will pose challenges to Hong Kong’s merchandise trade performance. Nevertheless, the steady growth in the Mainland economy, together with Hong Kong’s proactive efforts in enhancing economic and trade ties with different markets, should help buttress trade performance. The Government has been providing support to enterprises through various measures in coping with the external challenges, and will monitor the situation closely.
     
    Further information
     
         Table 1 presents the analysis of external merchandise trade statistics for March 2025. Table 2 presents the original monthly trade statistics from January 2022 to March 2025, and Table 3 gives the seasonally adjusted series for the same period.
     
         The values of total exports of goods to 10 main destinations for March 2025 are shown in Table 4, whereas the values of imports of goods from 10 main suppliers are given in Table 5.
     
         Tables 6 and 7 show the values of total exports and imports of 10 principal commodity divisions for March 2025.
     
         All the merchandise trade statistics described here are measured at current prices and no account has been taken of changes in prices between the periods of comparison. A separate analysis of the volume and price movements of external merchandise trade for March 2025 will be released in mid-May 2025.
     
         The March 2025 issue of “Hong Kong External Merchandise Trade” contains detailed analysis on the performance of Hong Kong’s external merchandise trade in March 2025 and will be available in early May 2025. Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020005&scode=230 
         Enquiries on merchandise trade statistics may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4691).
    Issued at HKT 16:30

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    MIL OSI Asia Pacific News –

  • MIL-OSI: Global Web3 Giants Bitget and Avalanche Join Forces to Boost Web3 Ecosystem in India

    Source: GlobeNewswire (MIL-OSI)

    NEW DELHI, April 28, 2025 (GLOBE NEWSWIRE) — Bitget, the world’s leading crypto exchange and web3 company announced a strategic collaboration with Avalanche®, the fastest and most reliable smart contracts platform in the world. Bitget and Avalanche are leaders in the field of digital asset trading and blockchain technology respectively and the partnership is aimed at leveraging the combined strength of both global brands to enable grassroots adoption of web3 technology.

    Avalanche is investing aggressively in the Indian region, working closely with more government agencies on welfare projects and rolling out a mini grants program to encourage builders of all stages to build on their platforms. Bitget’s Blockchain4youth program has pledged $10 million over 5 years offering scholarships, workshops and hackathons to the web3 community in India and across the globe. Bitget’s Blockchain4Her initiative is aimed at supporting women-led web3 projects in India and across the globe.

    The first leg of the program kicked off with the ‘HODL ON’ tour which conducted their first 2 meetup events in Delhi & Bangalore with the mutual agenda to boost education & knowledge about blockchain & cryptocurrencies in the region.

    Commenting on the development, Devika Mittal, Regional Head at Ava Labs, said India has a very robust web3 community. Our goal with events is to provide a space to any web3 enthusiast – whether in Delhi or Varanasi or anywhere else – to connect and build. She emphasized that in 2025 down the year lots of L1s are launching on avalanche & promising very strong activity from builders across the board is expected.

    Commenting on the development Jyotsna Hridyani, South Asia Head at Bitget, said “Empowering users with the right knowledge is essential to unlocking the full potential of blockchain in India’s digital future. At Bitget, we’re committed to bridging this gap through community programs, partnerships with universities, and accessible learning tools.”

    The goal of the partnership is to widen the reach for awareness across cities in India via more such events & workshops to educate the youth on the potential benefits & applications of blockchain technology. Bitget and Avalanche both have committed to partner for more such initiatives & investments for the rest of 2025.

    Global companies like Bitget and Avalanche are betting big on India as it is the world’s top nation in terms of crypto adoption and the second-largest market for web3 developers. India’s tech talent is capable of delivering world class web3 applications if supported by timely grants, experienced mentorship and global exposure. India is home to more than 1000 web3 startups and Bitget’s mission is to double this number in 2025 through dedicated funding and mentorship channels. The ‘HODL ON’ tour offers a unique platform for web3 startups in India to showcase their work and secure funding to succeed in their respective field.

    Commenting on the success of Delhi and Bangalore chapter Akshay Aggarwal, Co-founder & Leading Contributor, Blockchained India, added, “India, with its scale and digital depth, has a unique opportunity to shape how Web3 delivers real value — especially across consumer and enterprise applications. At Blockchained India, we’ve always believed that relevance is earned through consistent action — not noise. This is an inflection point. Let’s continue building with those who see long-term value and are committed to shaping what Web3 can truly become for the masses.”

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 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 world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

    Bitget is at the forefront of 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.

    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.

    About Avalanche
    Avalanche® is the fastest, most reliable smart contracts platform in the world. Its revolutionary consensus protocol and novel L1s enable Web3 developers to easily launch highly-scalable solutions. Deploy on the EVM, or use your own custom VM. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Avalanche® is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche uses Proof-of-Stake, which allows tens of thousands of validators to have a first-hand say in the system while consuming minimal energy. For more information, visit https://www.avax.network/

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/36d45783-de7b-416e-90f7-362c8ccc1c3f

    The MIL Network –

  • MIL-OSI Asia-Pac: Facilities enhanced for Golden Week

    Source: Hong Kong Information Services

    The Government will introduce various measures to enhance facilities around the High Island Reservoir East Dam, adding to convenience for visitors during the Mainland’s Labour Day Golden Week.

    The measures are in response to a significant increase in the number of visitors accessing the East Dam during recent weekends and the Ching Ming Festival holiday.

    A large number of visitors on these days have taken taxis to the East Dam in the morning, causing severe traffic congestion on Sai Kung Man Yee Road and markedly increasing the travel time for Green Minibus (GMB) Route No. 9A, from Pak Tam Chung to the East Dam.

    At present, GMB Route No. 9A on the Pak Tam Chung-East Dam route serves passengers on weekends and public holidays, with a frequency of 15-20 minutes. The service hours for departures from Pak Tam Chung are between 9.30am and 6.40pm, while those for departures from the East Dam are between 10am and 7pm.

    As more visitors are expected in the East Dam area during the Golden Week holiday period, from May 1 to 5, various departments will enact enhancement measures.

    Co-ordination between the Transport Department (TD) and the operator concerned will allow GMB Route No. 9A services to be boosted subject to passenger demand. Furthermore, the operator will, on a trial basis, extend the service to May 2, a weekday.

    The TD and the Agriculture, Fisheries & Conservation Department (AFCD) will also take measures to enhance passenger queuing arrangements.

    In the event of the road section concerned experiencing heavy traffic, the TD will make an announcement through various channels advising members of the public to plan ahead for their journeys.

    It will also set up a messaging sign at a suitable location ahead of the AFCD’s Pak Tam Chung Barrier to inform visitors of traffic conditions on the roads leading to the East Dam area.

    For its part, the Water Supplies Department has arranged for contractors to carry out temporary improvement works at some locations on Sai Kung Man Yee Road to facilitate the manoeuvring of traffic. The works have been substantially completed.

    The AFCD will strengthen management of the country park area surrounding the East Dam. This includes deploying additional personnel to patrol the region, and the enhancement of cleaning services as necessary.

    In collaboration with the Tourism Commission and the Tourism Board, the AFCD will also enhance promotion of other hiking trails within Hong Kong’s country parks and disseminate hiking guidelines to tourists.

    Police will deploy uniformed officers to direct traffic in strategic areas at peak visitor arrival and departure times, and to help facilitate pedestrian flows. The force will also take action to combat any illegal acts by taxi drivers.

    MIL OSI Asia Pacific News –

  • MIL-OSI: International Petroleum Corporation to release Q1 2025 Financial and Operational Results on May 6, 2025

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 28, 2025 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) will publish its financial and operating results and related management’s discussion and analysis for the three months ending 31 March 2025, on Tuesday, May 6, 2025 at 07:30 CET, followed by an audiocast at 09:00 CET.

    Follow the 2025 first quarter financial and operating results presentation starting at 09:00 CET live on www.international-petroleum.com or using the link or dial in details below:

    Presentation Link: https://ipc.videosync.fi/2025-05-06-q1

    Dial in number(s) Stockholm: +46 (0) 8 5052 0424
      UK-Wide: +44 (0) 33 0551 0200
      USA Local: +1 786 697 3501
       
    Password Quote IPC when prompted by the operator
       

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50

    Or

    		 Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15
         

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

    The MIL Network –

  • MIL-Evening Report: Election Diary: Labor to slash more consultant costs and increase visa charges to pay for fresh election commitments

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    The government has dug out last-minute savings of more than
    A$7 billion, to ensure its election commitments are more than offset in every year of the forward estimates.

    Its costings, released Monday, include savings of $6.4 billion from further reducing spending on consultants, contractors and labour hire, as well as non-wage expenses including travel, hospitality and property.

    The second saving is $760 million from increasing the visa application fee for primary student visa applicants to $2000 from July 1.

    Treasurer Jim Chalmers told a news conference Labor’s costings “show that we will more than offset our election campaign commitments in every year of the forward estimates”.

    “We will finish this election campaign with the budget in a stronger position than at the start of the election campaign”.

    “We have improved the budget position by more than $1 billion, comparing the pre-election outlook to the costings that we release today,” he said.

    With its costings out, Labor is piling the pressure onto the opposition to produce its numbers.

    “We call on the Coalition now to come clean on their cuts. We’ve made it very clear what our costs are and how we will pay for the commitments that we have made in this election campaign,” Chalmers said.

    The opposition “need to come clean on what their secret cuts for nuclear reactors means for Medicare, for pensions and payments, for skills and housing and other essential investments.

    “They have committed more than $60 billion in this election campaign and in their policy commitments, and that’s before we get to their $600 billion of nuclear reactors.”

    Chalmers said if the opposition costings did not include the cost of the nuclear reactors they “will not be worth the paper they are written on”.

    Shadow treasurer Angus Taylor said opposition costings, coming later this week, would project a stronger budget position than Labor’s. He also said if the Coalition was elected it would have an economic statement later this year.

    As the costings war ramps up, ratings agency S&P warned Australia’s AAA credit rating could be threatened if election promises resulted in larger structural deficits, and debt and interest expenses increased more than expected.

    Given deficits and international circumstances, “how the elected government funds its campaign pledges and rising spending will be crucial for maintaining the rating”, the agency said.

    Asked about the comments, Chalmers said: “I say to that particular agency, indeed, all of the ratings agencies, that in our time in office, we’ve engineered the biggest positive turnaround in a budget of any parliamentary term ever”. He pointed to the improvement in the budget numbers during the campaign to underline Labor’s credentials.

    The fresh impact of Labor’s promises on the bottom line has also been limited because most of them were already factored into the budget.

    After the savings and spends are netted out the deficit for 2025-26 is estimated to be $41.9 billion compared to the $42.2 billion in the pre-election economic and fiscal outlook.

    Chalmers says Dutton to build nuclear reactor in his own seat

    Jim Chalmers must carry off the prize for the most brazen “scare” of a campaign full of attempted scares.

    Chalmers picked up on Anthony Albanese’s question to Peter Dutton in Sunday’s debate, when the PM asked the opposition leader whether he’d be willing to have a nuclear power plant in his seat of Dickson. Dutton said he would.

    Chalmers’ message to voters in “that wonderful part of southeast Queensland” is: “your local member wants to build a nuclear reactor in your suburbs.”

    “[The Labor candidate,] Ali France, is not going to build a nuclear reactor in your local community but Peter Dutton wants to.

    “I would encourage you to think about that […] as you choose your local member,” Chalmers told his news conference.

    The treasurer kept a straight face while delivering this warning to Dickson voters.

    Dutton questions Welcome to Country ceremonies at Anzac Dawn services

    Peter Dutton has widened his criticism of the extent of Welcome to Country ceremonies by saying he does not believe they belong at Anzac Day dawn services.

    He said that listening to veterans, “I think the majority view would be that they don’t want it on that day”. But he said it was an individual decision up to the RSLs.

    Discussion of the Welcome to Country ceremonies has come to the fore after a group of neo-Nazis heckled the ceremony at the Shrine of Remembrance service on Friday. It also came up in Sunday’s debate between the leaders, when Dutton said the ceremonies should be reserved for significant occasions such as the opening of parliament.

    Questioned by reporters on Monday, Dutton said the acknowledgment to country given by Qantas when planes landed was “over the top”.

    “We are all equal Australians,” he said. “I believe we should stand behind one flag united to help Indigenous Australians deal with disparity around health outcomes, around education outcomes, around housing, around safety […] I want to provide support for practical reconciliation. The prime minister’s policy is to please inner city Greens, which is not something we signed up to.”

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

    – ref. Election Diary: Labor to slash more consultant costs and increase visa charges to pay for fresh election commitments – https://theconversation.com/election-diary-labor-to-slash-more-consultant-costs-and-increase-visa-charges-to-pay-for-fresh-election-commitments-255386

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Africa: APO Group joins forces with AFRICA24 Group, Africa’s leading TV and digital media company

    Source: Africa Press Organisation – English (2) – Report:

    APO Group joins forces with AFRICA24 Group, Africa’s leading TV and digital media company All text, images, video and audio content distributed by APO Group will be published on AFRICA24 Group’s website in English and French PARIS, France, April 28, 2025/APO Group/ — APO Group (www.APO-opa.com), the leading Pan-African communications consultancy and press release distribution service, today announced a content agreement with Africa’s leading TV and digital media company (www.Africa24TV.com). The partnership means that all text, images, video and audio content distributed by APO Group will be published on AFRICA24’s website in English and French. Watch the video: https://apo-opa.co/42w8uFD Launched in 2009 by its founder Constant Nemale, a reference in the media and communications industry, the AFRICA24 Group is the world leader in news and television on Africa, with a global daily audience of more than 80 million households on the continent and in the global African diaspora.  The AFRICA24 Group is the only media conglomerate focused on Africa, with 4 high-audience television & digital channels available on leading operators: – AFRICA24 TV: (French), world leader in Francophone African news – AFRICA24 English: the reference for news in English – AFRICA24 Sport: leader in African sports news and competitions – AFRICA24 infinity: leader in creative industries, culture, music and art The AFRICA24 Group is regularly ranked in the Top 5 of television channels most watched by African policy makers, business executives and leaders – providing leadership alongside channels such as CNN, BBC World News and Al Jazeera. Available worldwide on all the major operators: Canal+, Orange, SFR, Bouygues, Bell, etc. AFRICA24 has been the most watched French-speaking African channel for over 15 years without interruption. The AFRICA24 Group has innovated on the digital front with the launch of the myafrica24 application, the first and only HD streaming platform on Africa available on all digital media (smartphone, tablet, computer, SmartTV). A leader in digital, the AFRICA24 Group has a substantial online audience with 1 million subscribers on Facebook, 1 million subscribers on X (Twitter), and 802,000 on YouTube. The AFRICA24 Group has the largest online catalogue on Africa with its replay offer accessible on the www.Africa24TV.com website, which has become a key vector, accounting for hundreds of thousands of monthly visitors. For several years now, Africa’s leading institutions have chosen the AFRICA24 Group as their partner of reference:

    • African Union: In 2019, the continent’s leading institution signs an MOU that will make AFRICA24 Group the one and only official media partner of the prestigious African Union. The two organisations have joined forces to produce and broadcast content aimed at promoting Africa’s image and its development narrative. The AFRICA24 group launched in 2022, with huge success the weekly magazine ‘African Union Journal’ the first and only exclusive weekly television programme providing news, features, interviews and analysis and on the activities of the African Union organisation and its member states.
    • AfCFTA: In 2024, the AFRICA24 Group was chosen by AfCFTA, the African Union body responsible for promoting the Free Trade Area, to promote African economic integration through high-impact initiatives. The AFRICA24 Group thus becomes the one and only flagship media chosen to promote a single common market of 1.5 million inhabitants and Africa’s economic prosperity.

    The AFRICA24 Group is also the official media partner of many leading institutions and companies such as Afreximbank, UBA, the African Development Bank (AfDB), the United Nations for Africa (UNECA), the World Bank, the Annual Meetings of the International Monetary Fund (IMF), the Organisation mondiale de la Francophonie (OIF), the Attijariwafa Bank Group, the OCP Group, etc. The partnership with APO Group gives AFRICA24 Group access to authoritative content from all over Africa, from more than 300 multinational companies operating in Africa, as well as major international institutions, sports organisations and African governments, which will be published on www.Africa24TV.com. APO Group is thus completing a cycle of partnerships with leading African and international media that enable it to constantly improve the reach of its press release distribution service. These partnerships are mutually beneficial. Through a significant increase in the impact and visibility of content for APO Group’s clients, but also through access for media such as those of AFRICA24 Group to a qualitative flow of information from the largest organisations operating in Africa. Content distributed by APO Group is automatically published on more than 320 African news sites and on international platforms such as Bloomberg Terminal, Thomson Reuters Eikon, Lexis Nexis and Factiva. AFRICA24 Group and APO Group share a common vision of Africa. APO Group worked closely with the African Union, providing pro bono support to the African Union Commission through a full range of strategic communications services for the duration of the Dubai World Expo. “APO Group is the undisputed leader in high-quality news and certified content from organisations operating in Africa,’ said Constant Nemale, founder and chairman of AFRICA24 Group. ‘We are delighted to be able to strengthen our online presence by publishing some of the most important and relevant information about Africa.” “APO Group is always committed to offering its customers direct access to the heart of Africa and beyond,’ said Nicolas Pompigne-Mognard (www.Pompigne-Mognard.com), founder and chairman of APO Group. ‘The AFRICA24 Group has the most dominant African television channels in their segment. The AFRICA24 Group enjoys the confidence of Africa’s political decision-makers and business leaders, as well as Africa’s international partners. We share the same vision of changing the narrative about Africa and bringing positive African news to new audiences around the world.” This is a joint press release by APO Group and AFRICA24 media group. Distributed by APO Group on behalf of APO Group. Media contact: APO Group marie@apo-opa.com AFRICA24 infos@africa24tv.com Follow on: Facebook: https://apo-opa.co/4lGn4BU Twitter: https://apo-opa.co/44cDpIh YouTube: https://apo-opa.co/3GuCQzR About APO Group: Founded in 2007, APO Group (www.APO-opa.com) is the leading pan-African communications consultancy and press release distribution service. We assist private and public organizations in sharpening their reputation and increasing their brand equity in target countries across Africa. Our role as a trusted partner is to leverage the power of media and build bespoke strategies that enable organisations to produce a real, measurable impact in Africa and beyond. The trust and recognition granted to APO Group by global and multinational companies, governments, and NGOs inspires us to continuously enhance our value proposition within Africa to better cater to our clients’ needs. Among our prestigious clients: Facebook, Dangote Group, Nestle, GE, NBA, Canon, Coca-Cola, DHL, Marriott Group, Ecobank, Siemens, Standard Chartered, Orange, Jack Ma Foundation, African Development Bank, World Health Organization, Islamic Development Bank, Liquid Telecom, Rotary International, Kaspersky, Greenpeace… Headquarters: Lausanne, Switzerland | Offices in Senegal, Dubai and Hong Kong For further information, please visit our website: https://www.APO-opa.com About AFRICA24: AFRICA24 is the first African-owned global news channel and was launched in 2009. The network is devoted to news about Africa, and broadcasts 24-hours-a-day, 7-days-a-week to audiences in Africa, North America, the Middle East and Europe. AFRICA24 embodies the leading continental media which endows Africa its own tribune in the international media scene. Since its launch in 2009, AFRICA24 has been the reference for African news. AFRICA24 is the reference media partner of the Continent’s institutions and major events such United Nations, African Union, US Africa Business Summit… AFRICA24 is the reference media for all leaders across the world to address Africa related topics. AFRICA24 group will launched new channel, full HD, 24/24,  starting in 2022 : AFRICA24 English, AFRICA24 infinity (Music, fashion, Culture…) and AFRICA24 Sport. Headquarters: Dubaï, UAE | Offices in Morocco, Senegal, Ivory Coast and Cameroon. Find out more by visiting www.Africa24TV.com.

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    MIL OSI Africa –

  • MIL-OSI Asia-Pac: HK Excellent Family Awards open

    Source: Hong Kong Information Services

    The inaugural Hong Kong Excellent Family Awards, co-organised by the Home & Youth Affairs Bureau and the Family Council, are open for entries from today until June 27. Families living in Hong Kong are welcome to join.

    The awards aim to recognise families that cultivate a positive and supportive family relationship built on love and respect as well as care and support, and to pass on good family traditions and virtues.

    There are 15 awards in this event, including 10 Excellent Families Awards and five Passage of Good Family Values & Virtues Awards. Winning families will receive trophies, theme park tickets, complimentary hotel accommodation, family photography services, and gift coupons.

    Participating families are required to submit a written narrative in either Chinese or English, sharing their family’s real-life experience. They also need to include up to five family photos in an entry.

    The narrative should demonstrate strong family bonds, the family’s ability to cope with challenges in life together, and the passing on of good family traditions and virtues.

    Participants can submit entries online. Alternatively, they can download the entry form from the thematic webpage and pass the completed form along with the narrative and photos to the Home & Youth Affairs Bureau Family Council Secretariat, 13/F West Wing, Central Government Offices, 2 Tim Mei Avenue, Tamar, Hong Kong, by post or in person.

    Shortlisted families will be invited to attend a meeting in early August.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Dubai’s Web 3.0 Momentum Accelerates as Global Stakeholders Gather for Unchained Summit

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, April 28, 2025 (GLOBE NEWSWIRE) — In the middle of the Gulf, something very deep is unfolding. Web 3.0 & Blockchain is no longer a buzzword; it’s a building block. And in Dubai, the future of Web 3.0 isn’t just coming; it’s being designed at pace. As crypto regulations come of age, institutional money pouring in, and industry giants establishing regional HQs, Dubai is quickly becoming the hub of the decentralized revolution.

    As the city gears up to host the much-awaited Unchained Summit at the Kempinski Central Avenue on 28th and 29th April, a tide of excitement is rolling over the region’s Web 3.0, Blockchain, and Digital Assets industries.

    The summit, hosted by Aeternum, promises more than an average Web 3.0 conference. It’s a high-conviction meeting of founders, investors, policy shapers, and enterprise leaders driving the frontiers of how decentralized infrastructure will transform identity, finance, and trust in the digital world.

    Dubai’s Web 3.0 momentum is no longer a whisper, it’s a global signal. As the world tilts toward decentralized infrastructure, Dubai has emerged as the nexus where policy, capital, and innovation come together. With government-backed regulatory clarity, enterprise-grade adoption, and a thriving ecosystem of startups and investors, the emirate is fast becoming the capital of the decentralized ecosystem. Unchained Summit is more than a symptom of this energy; it’s the driving force. The Dubai edition brings global architects of Web 3.0 together in one place, making Dubai a living laboratory for what the internet of value, trust, and autonomy really is.

    From builders to billionaires, Unchained Summit’s lineup of speakers include:

    • Ronghui Gu, Co-Founder, Certik
    • Ella Zhang, Head, YZi Labs
    • Kostas Chalkias, Co-Founder and Chief Cryptographer, Mysten Labs
    • Sreeram Kannan, Founder & CEO, EigenLayer
    • May Zabaneh, VP of Product – Blockchain, Crypto & Digital Currencies, PayPal
    • Greg Scanlon, VP Quantitative Blockchain, Franklin Templeton Digital Assets, Franklin Templeton
    • Keone Hon, Co-Founder, Monad Foundation
    • Lennix Lai, Global Chief Commercial Officer, OKX
    • Nils Andersen-Röed, Global Head of FIU, Binance, and more.

    “Web 3.0 is a collective movement, and Unchained Summit is where the next wave of builders and thinkers come together. We’re here to drive the conversation. Web 3.0’s growth hinges on infrastructure that can scale — it’s about throughput, cost-efficiency, and long-term sustainability. We’re proud to be at Unchained Summit, pushing the notion on sustainable blockchain designs,” said Abhijit Shukla, Founder of TAN Blockchain.

    Richard Ma, CEO & Founder of Quantstamp said, “I’m honored to be speaking at Unchained Summit, a premier event bringing together visionary leaders and innovators in the Web 3.0 ecosystem. At Quantstamp, we’re dedicated to securing the future of blockchain, and I look forward to sharing insights on advancing security, trust, and resilience within this rapidly evolving industry.”

    “Markets are moving on-chain—not just assets, but access, distribution, and users. We’re excited to be at Unchained Summit talking about what it takes to put real-world assets in the hands of real people,” said José F. Pereira, Executive Director, Own.

    “Web 3.0 moves fast—and the ones who show up shape where it goes. Unchained Summit brings together the doers, not just the talkers. At TBV, we’re here to back the founders turning big ideas into real traction,” said Tobias Bauer, General Partner, TBV.

    “Dubai is no longer just participating in Web 3.0, but it’s directing traffic,” says Sharath Kumar, Founder & CEO of Aeternum and organizer of Unchained Summit. “This is the one of the first real moments where we’re seeing decentralized technologies collide with institutional capital, national policy, and entrepreneurial energy—all in one city.”

    Unchained Summit’s official sponsors include:

    With increasing interest in industries ranging from AI-driven gaming to tokenized assets, Unchained Summit indicates a wider industry transition: Web 3.0 is increasingly finding its way into mainstream enterprise planning. And as a result of this, after its Dubai edition, Unchained Summit is set to make its India debut on 5th and 6th December 2025, reaffirming its commitment to bridge APAC, Middle Eastern, and European Web 3.0 & Crypto ecosystems.

    As the Dubai chapter draws to a close, one thing is certain: the decentralized future is no longer a distant prospect; it is happening already.

    Tickets for the Dubai edition are on sale on the official site: unchainedsummit.com

    About Aeternum Consulting Ltd:

    Aeternum organizes business-to-business events in the emerging tech space, provides strategic consulting, and tailored services to a diverse range of clients, from corporations to governments and startups to individuals. Aeternum specializes in crafting impactful B2B platforms that foster meaningful connections, drive business growth, and facilitate knowledge sharing through conferences, exhibitions, and bespoke networking opportunities.

    For more information visit: aeternuminc.com

    The MIL Network –

  • MIL-OSI Australia: Canberra’s best seafood spots, as voted by you

    Source: Northern Territory Police and Fire Services

    Want to eat your seafood with a side of beautiful views? Snapper and Co is the picture-perfect spot. Image: Tourism Australia

    In Brief:

    • We asked Canberrans on the @WeAreCBR Instagram account where to find the best seafood in Canberra.
    • This list includes different locations you can find seafood.

    Canberra might be missing a beach, but there is no shortage of delicious spots to grab some seafood.

    We asked on the @WeAreCBR Instagram account where to find the best local seafood, whether it’s your classic fish and chips, or something a little more fancy like paella.

    Here are the top recommendations:

    Seafood buffet at the Hyatt Hotel

    Wanting to load up a plate with fresh seafood goodies? And maybe go back for more? The Hyatt Hotel offers Friday and Saturday evening seafood buffets, and you can even grab a cheeky dessert while you’re at it.

    Seafood at Med

    Med in Barton is serving up numerous seafood dishes. Kingfish, octopus and king prawns are all available, plus many more delicious dishes.

    Octopus at Saint Malo

    Dive headfirst into this delicious Mediterranean cuisine! There are various seafood dishes on the menu, but the standout is the octopus with black garlic and kipfler potatoes.

    Seafood and a view and Snapper & Co

    Visit Canberra’s iconic lakeside and snap up some fish and chips. With views of Telstra Tower and Lake Burley Griffin, this is one to add to your summer bucket list.

    Kickin Inn

    Looking to have a bit of everything? Kickin Inn is Canberra’s home to the famous seafood boil bags! Get everything mixed into a bag with your choice of sauce and add-ons, dig in and enjoy! But don’t forget your bib.

    Calamari Salad from Space Kitchen

    Looking to add some fresh greens into your seafood? This calamari is served with a Thai style salad and fresh papaya.

    Seafood at Water’s Edge

    Dine in a dome right on the edge of Lake Burley Griffin. With various seafood options ranging from crab to the fish of the day, you’re sure to enjoy this meal with a view!

    Oysters at Corella

    Like the finer things in life? The Appellation oysters at Corella are a fan favourite. Served with a lemon myrtle vinegar and the choice of half a dozen or the full dozen.

    Read more like this:

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    MIL OSI News –

  • MIL-OSI Economics: Building a robust ecosystem for Green and Sustainable Finance in India – Valedictory address delivered by Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India – April 17, 2025 – at Credit Summit 2025 organised by the Bharat Climate Forum at New Delhi

    Source: Reserve Bank of India

    Distinguished guests, participants, ladies and gentlemen, Good afternoon

    At the outset, let me thank the organisers for inviting me and giving me an opportunity to deliver the valedictory address and share some of my thoughts on a subject which continues to engage national as well as global attention. I believe there would have been fruitful deliberations on the topics of green and sustainable finance and the role of financial institutions, opportunities and challenges, aligning of regulatory and policy worlds, facilitating global financing, and integration of climate change aspects in credit risks of the financial institutions. Each of these topics require detailed deliberations and collectively they form the building blocks for creation of a robust ecosystem for green and sustainable finance for the economy and financial system at large.

    2. The critical enablers to attract green and sustainable investments that need to be put in place for financial ecosystem has been and continues to be a subject of deliberations at various fora be it G20 Sustainable Finance Working Group, the international standard setting bodies such as the Basel Committee on Banking Supervision, the International Sustainability Standards Board as well as the Financial Stability Board, and the Network for Greening the Financial System. These enablers range from adoption of a national green/ climate finance taxonomy, globally aligned disclosure standards for climate related financial risks, and robust assurance and verification process. Green and sustainable finance being a niche area, requires us to be mindful of greenwashing risks. Moreover, there are certain inherent risks and conditions that need to be met from the risk-reward perspective in green and sustainable lending/ investment decisions. Let me delve a bit into these aspects and try to build a narrative on how we can collectively build and develop a robust ecosystem for green and sustainable finance in India.

    The Green and Sustainable Finance Taxonomy

    3. When we talk of green and sustainable finance, the primary consideration is understanding as to what defines it. A national level taxonomy is crucial as it serves as the first building block that aligns the entire ecosystem, be it the government, regulators, other policy makers, financial institutions and borrowers/investors. This is under development in India. You are aware that an announcement to this effect was made by the Hon’ble Finance Minister in the Budget Speech for 2024-25. Meanwhile, we at Reserve Bank of India have till this juncture used the Sovereign Green Bonds (SGrB) framework for mapping of the green and sustainable sectors. This was also used when we issued a Framework on acceptance of Green Deposits in April 2023, which aligns with the SGrB framework towards identification of the green sectors. Thus, as a robust ecosystem enabler, the first building block would be a national level taxonomy for identification of the sectors and alignment of various regulatory dispensations along this taxonomy.

    Consistent and harmonised Regulatory approach

    4. The second building block would be a consistent and harmonised regulatory approach towards assessment of climate change risks and fostering of related financing. The climate change risks, and the related issues are sector agnostic, with significant inter-dependencies. To ensure that the net zero target announced by the Hon’ble PM at COP26 in 2021 is achieved by 2070, it would require players in the economy and financial system to fine-tune their respective actions/ measures, so that as a country, we can achieve this target. It would also require a consistent and harmonised approach among the concerned regulators and authorities.

    Assurance and Verification Function

    5. The next building block would be the development of robust assurance and verification functions. Assessment of climate related financial risks, green and sustainable finance are context specific, with need for a clear and objective demonstration of end use of funds. Transparency and related checks and balances that provide assurance on end use of the funds related to green and sustainable finance is extremely important. Given the technical expertise needed for assurance on climate related aspects, as well as adherence to benchmark assurance standards, there is a need to ensure credibility of this assurance and verification process. This would mean defining the requirement of consistent standards detailing expertise and skills that any assurer or verifier must possess to provide these services. A consistent approach across the financial system on the processes would provide confidence to the investors, which would then operate as a key enabler for increased flow of credit to the relevant sectors while addressing concerns around risks of greenwashing.

    Transparency and Disclosures

    6. The fourth aspect is the need for transparency in climate related disclosures. This is essential for financial institutions to assess and manage climate related financial risks, ensure transparency, and support long-term financial stability. It also underscores the need for coherence among various sectors on disclosure aspects. To give an example, if a financial institution is to make any lending or investment decision or assess its portfolio risks, or is mandated to make climate related financial disclosures, then it must depend on the borrowers to provide the requisite information. This means not just putting in place an enabling mechanism for both the lender and the borrower but also having consistency across the financial system for seamless flow of data and information. The Reserve Bank of India had published a draft “Disclosure framework on Climate-related Financial Risks”, in February 2024 for public consultation. The draft guidelines require Regulated Entities to make qualitative and quantitative disclosures with respect to climate related financial risks based on four broad areas, viz., (i) governance (ii) strategy (iii) risk management and (iv) metrics and targets. We have received comprehensive feedback on the framework basis which the guidelines are being finalised.

    Complexities of climate change modelling and data considerations

    7. Another area where consistency and harmonisation are required is compilation of data. For purpose of climate related financial risk, assessment and related facets of green and sustainable finance, be it transition or adaptation finance, data is very crucial. One of the limitations for climate risk assessment at this juncture is the need for technical expertise coupled with unique data requirements. Climate related data, understanding nuances of the climate patterns and the impact on account of climate change, is a highly technical and skilled job. Climate scientists across the world use super computers to study climate and weather patterns and its related aspects. It involves complex modelling and is resource intensive. If we depend on a financial sector expert, who uses financial modelling for assessing quantitative estimates and then arrive at the financial sector impact, this expertise alone may not suffice. The two skill sets needed for climate scenario analysis and climate finance risks are completely different in that as climate scientists are not experts in financial modelling and financial modellers have limited expertise in area of climate science. This makes the job of assessment of impact of climate change risks on financial sector more difficult and would therefore require collaboration amongst the two.

    8. Given the impact of climate change risks, viz., physical and transition risks and the impact it has on the value of real assets and financial instruments, understanding these risks is crucial for lenders or investors from a risk-reward perspective. Thus, for uniform and consistent assessment of risks across the financial system, the aspect of disclosure and data becomes crucial. This will remove the misalignment of information between borrowers and lenders/ investors and not only allow a fair assessment of climate change risks but also foster green and sustainable finance.

    9. As a part of this endeavour, Reserve Bank had in the monetary policy statement of October 2024, announced the formation of Reserve Bank – Climate Risk Information System (RB-CRIS). It is envisaged to bridge data gaps and provide standardised datasets to the Regulated Entities (REs) on three aspects – Physical Risk Data, Transition Risk Data, and Carbon Emission Factor Database. The physical risk data part would focus on providing pan-India hazard and vulnerability data. As regards the transition risk, the plan is to arrive at India specific transition scenarios and use them to provide sectoral benchmark transition pathways. Finally, recognising the need to standardise the emission calculation across the sectors, a consistent approach towards carbon emission methodology and the uniform database is also being proposed. Under RB-CRIS, the RBI intends to bring all the stakeholders together and bring coherence and bridge the existing data gaps.

    Climate change and credit risks

    10. Climate change risks impact the financial institutions, financial system and real economy through the traditional risk categories and one risk factor that prominently stands out is credit risk. Climate change would lead to additional operational costs for the borrowers with an increased possibility of loss of their assets, leading to increased probability of default by the borrowers. The real economy is also impacted through various means such as direct property losses, crop losses, loss of employment and livelihood losses. Another facet of credit risk in climate change emanates from the need to promote green and sustainable financing. The fact that the net-zero technologies driving the transition to decarbonisation, are at various developmental and evolving stages, itself signifies a significant increase in credit risks. Thus, there is a dichotomy wherein on one hand there is a need for incentivising green and sustainable finance and on the other there is an increase in inherent risks from encouraging such financing. So, the key issue is how to manage this dichotomy? While the prudential aspect, i.e., the risk management consideration, is the prime concern for any regulator, the flow of credit is generally market determined albeit mandated at times through specific directed lending policies. Therefore, a delicate balancing act needs to be performed by the regulators to avoid any imbalance from the broader financial stability perspective.

    Challenges to Green and Sustainable Finance and Global Financing

    11. Challenges to green and sustainable finance are many. However, they can be broadly categorised in two specific buckets – one is the structural issues while the other relates to the quantum of financing available. From the structural perspective, the main challenges would be, high-upfront capex requirements given the specific nature of required project loans/ investments; perceived high inherent risks given the evolving nature of climate related technologies; asset liability mismatches which is ubiquitous to any lending/ investing activity, more so in case of project loans given the longer maturity, commencement and gestation timelines; and knowledge and information gaps, given the technical nature of assessment of climate change risks and appraisal of climate related technologies.

    12. As to the quantum of financing available, there are various pull and push factors at work, in the context of global capital mobilisation. The global capital stock of lending/ investments flows also follows a risk-reward perspective. The pull factors are the specific domestic enablers which may drive investor appetite. This would be a function of robustness of the financial ecosystem, liquidity, and depth of the financial markets, transparency and disclosure standards, rigour of verification and assurance mechanism, development and dissemination of risk assessment models for climate-related risks, data and capacity gaps, long-term strategy on transition plans, and availability of pool of bankable projects. The push factors would be the global commitment of funds for climate related funding. The recent geo-political developments could possibly lead to the weakening of these push factors. This is a developing story and there is a need to closely monitor the wider implications. Given the huge requirement for funding of the green transition, the availability of global funds remains critical.

    13. The inherent risks in the green and sustainable finance, skews the risk-reward considerations leading to increased cost of credit. This leads to demand by private sector investors/ lenders for appropriate derisking mechanisms through grants/ guarantees/ philanthropic capital/ financial incentives, etc. Mobilising such capital on scale, would be a challenge. A related issue is the availability of bankable projects. Though, bankable projects invariably find credit, there are funding challenges with partially bankable and non-bankable projects. As you all may be aware, there are two aspects of climate change finance we need to consider, one is mitigation and other is adaptation. Mitigation is used for transition purpose and adaptation for resilience purpose. Financing in case of mitigation can be associated with cash flows, but it becomes difficult for adaptation and resilience, as the associated cash-flows are difficult to assess leading to sub optimal capital flows towards sustainable investments in resilient infrastructure and adaptation.

    Augmenting green and sustainable finance

    14. Given these limitations, there is a need for concerted efforts to overcome these challenges and augment green and sustainable finance. This would require a multi-pronged approach. Blended finance, which combines concessional public funding with private sector investment can be one of the main conduits of the credit flow by de-risking climate related projects. India is a diverse country, with varying needs of climate mitigation and resilience, meaning, a coastal area would require a differentiated approach as compared to the regions near the Himalayas. We would need practical implementable solutions, curated to specific issues. Tools like guarantees, sustainability-linked loans, and climate-resilient bonds could be explored to further enhance private sector involvement.

    15. The problem of climate change needs scalable solutions, and it cannot come by entirely relying on public funds. There is thus a need to develop a market wherein the risk-reward perspective itself takes care of the scale of requirements. Even within adaptation space, there are pockets which can be associated with cash flows. Climate change risks and financing needs to be viewed also as an opportunity. Innovative solutions which not only mitigate financial risks associated with climate change but also incentivise private investors to participate in climate projects need to be explored.

    16. Developmental Financial Institutions (DFIs) would have to play a major role in channelising the flow of credit for green and sustainable finance. There is a need for more collaboration between DFIs, Multilateral Development Banks (MDBs), National Development Banks (NDBs) and Vertical Climate and Environmental Funds (VCEFs). Given the current geo-political developments, with the world moving to a multi-polar world, there is a need for certain reforms within the MDBs as well greater representation from/ credit to the global south.

    17. Technology and innovation would play a major role in mitigation of climate change risks while creating a robust ecosystem for green and sustainable finance in the country. This requires developing a platform that would bring together the REs and technology solution providers, to facilitate an orderly development of required technological solutions to mitigate climate related risks and overcome the current limitations and foster sustainability linked credit flow. The Reserve Bank has on April 09, 2025, included sustainable finance and climate risk mitigation as a topic under the Theme Neutral “On Tap” application facility under the Regulatory Sandbox which could help develop and test innovative solutions.

    The Way Forward

    18. One term which often finds mention in global context has been “inter-operability”. While as a concept, inter-operability seems ideal in a just and equal world, in these times in a world with stark inequalities, mandating inter-operability with similar level of commitments, may not be the ideal way and there is a need for a differentiated approach. The Emerging Markets and Developing Economies (EMDEs) have started this journey to achieve seamless integration and inter-operability. However, there is yet some distance to be covered. Though, historical examples from high-income countries demonstrate the potential to decouple economic growth from emissions, for EMDEs this would require strong international co-operation, significant investments, and effective policies. Further, any transition from carbon intensive economy to a greener economy is not a smooth ride and there are going to be disruptions be it restructuring, reallocation of resources and financial flows as also displacement of workers and have a bearing on land use. Thus, as we traverse this journey there is a need for delicate balance to ensure that socio-economic implications are carefully considered and addressed.

    19. Going forward, we would also need to arm our respective organizations with skilled manpower and technical expertise to spearhead the transformation in addressing the challenges of climate change. With this end in view, Reserve Bank has been conducting extensive capacity building programmes for the REs. The focus has been on bringing international experts to share their experience on green and sustainable financing, stress testing and scenario analysis, credit risk assessment, transition planning, physical risk assessment, and global best practices for governance, strategy and risk management.

    Conclusion

    20. India occupies a unique position in the global climate context. As one of the world’s fastest-growing economies, it faces the dual challenge of fostering and sustaining economic development while addressing climate change. On the one hand, it is highly vulnerable to climate risks while on the other hand, it has the potential to lead the global green transition. While we have made a fair start, there are several challenges that remain to be addressed. The risk management architecture in REs for climate related financial risks is still evolving and further concerted efforts are required. Further, a comprehensive assessment on the extent of losses that may be caused due to climate change risks in the future requires more granular approach. There is a need to build technical expertise and competencies for comprehensive assessment and mitigation of climate change risks. There is also a need for a more harmonised and coherent regulatory approaches across various sectors so that the sectoral dependencies may be addressed in an efficient manner. While the need for the world to transition to a greener tomorrow is given, there are several challenges on the way, and they need to be addressed in a holistic manner. We also need a collaborative and sensitive approach to address the various issues given the impact on the economies and the societies at large. I am confident seminars such as these give an opportunity to further the work to achieve these objectives.

    Thank you.

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: HK, Bahrain tax pact in effect

    Source: Hong Kong Information Services

    Hong Kong’s Comprehensive Avoidance of Double Taxation Agreement (CDTA) with Bahrain signed in March 2024 has come into force and will be applicable to Hong Kong tax for any year of assessment beginning April 1, 2026.

    Under the agreement, companies and residents of both places will not have to pay tax twice on a single source of income.

    The agreement will also allow them to have certainty on tax liabilities and save tax when they engage in cross-border business activities, thereby helping to promote bilateral trade and investment.

    Hong Kong has signed CDTAs with 51 tax jurisdictions so far.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Bun scrambling final set for May 5

    Source: Hong Kong Information Services

    The Bun Scrambling Final, the finale to the 2025 Bun Carnival, will be held on May 5 at the Pak Tai Temple Playground soccer pitch on Cheung Chau.

    Following an opening ceremony at 11.30pm, the competition will start at midnight according to tradition.

    Trophies will be awarded to the champion, first runner-up and second runner-up in the men’s division and the champion in the women’s division. The Full Pockets of Lucky Buns award will again be presented to the participant who gathers the most buns.

    Four spectator zones will bet up at the soccer pitch to accommodate around 1,650 people. Admission is expected to start from 10.30pm.

    From 10pm on May 5, free tickets will be available at Pak She First Lane, next to Cheung Chau Fire Station as well as along Ping Chong Road. Each person can obtain one ticket on a first come, first served basis while tickets last.

    Special transport arrangements will be made to cater to spectators leaving Cheung Chau after the event.

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Eucharistic Celebration on the second day of the Novendiali

    Source: The Holy See

    At 10.30 today, Second Sunday of Easter or Divine Mercy Sunday, on the second day of the Novendiali, a Eucharistic Celebration in memory of the Roman Pontiff Francis was held on the parvis of Saint Peter’s Basilica, presided over by His Eminence Cardinal Pietro Parolin.
    On the second day of the Novendiali, a special invitation was extended to the employees and faithful of Vatican City. It was also attended by many teenagers gathered in Rome for the Jubilee dedicated to them. According to official data, approximately 200,000 faithful were present.
    The following is the homily delivered by His Eminence Cardinal Pietro Parolin during the course of the Eucharistic Celebration:

    Homily of His Eminence Cardinal Pietro Parolin
    Dear brothers and sisters,
    The risen Jesus appears to his disciples while they are in the Upper Room where they have fearfully shut themselves in, with the doors locked (Jn 20:19). Their state of mind is disturbed and their hearts are full of sadness, because the Master and Shepherd they had followed, leaving everything behind, has been nailed to the cross. They experienced terrible things and feel orphaned, alone, lost, threatened and helpless.
    The opening image that the Gospel offers us on this Sunday can also well represent the state of mind of all of us, of the Church, and of the entire world. The shepherd whom the Lord gave to his people, Pope Francis, has ended his earthly life and has left us. The grief at his departure, the sense of sadness that assails us, the turmoil we feel in our hearts, the sense of bewilderment: we are experiencing all of this, like the apostles grieving over the death of Jesus.
    Yet, the Gospel tells us that it is precisely in these moments of darkness that the Lord comes to us with the light of the resurrection, to illuminate our hearts. Pope Francis reminded us of this since his election and often repeated it to us, placing at the centre of his pontificate that joy of the Gospel which, as he wrote in Evangelii Gaudium, “fills the hearts and lives of all who encounter Jesus. Those who accept his offer of salvation are set free from sin, sorrow, inner emptiness and loneliness. With Christ joy is constantly born anew” (n. 1).
    The joy of Easter, which sustains us in this time of trial and sadness, is something that can almost be touched in this square today; you can see it etched above all in your faces, dear children and young people who have come from all over the world to celebrate the Jubilee. You come from so many places: from all of the dioceses of Italy, from Europe, from the United States to Latin America, from Africa to Asia, from the United Arab Emirates… with you here, the whole world is truly present!
    I address a special greeting to you, with the desire to make you feel the embrace of the Church and the affection of Pope Francis, who would have liked to meet you, to look into your eyes, and to pass among you to greet you.
    In light of the many challenges you are called to confront – I think, for example, of the technology and artificial intelligence that characterise our age in a particular way – never forget to nourish your lives with the true hope that has the face of Jesus Christ. Nothing will be too great or too challenging with him! With him you will never be alone or abandoned, not even in the worst of times! He comes to meet you where you are, to give you the courage to live, to share your experiences, your thoughts, your gifts, and your dreams. He comes to you in the face of those near or far, a brother and sister to love, to whom you have so much to give and from whom so much to receive, to help you to be generous, faithful and responsible as you move forward in life. He wants to help you to understand what is most valuable in life: the love that encompasses all things and hopes all things (cf. 1 Cor 13:7).
    Today, on the Second Sunday of Easter, Dominica in Albis, we celebrate the Feast of Divine Mercy.
    It is precisely the Father’s mercy, which is greater than our limitations and calculations, that characterised the Magisterium of Pope Francis and his intense apostolic activity. Likewise the eagerness to proclaim and share God’s mercy with all – the proclamation of the Good News, evangelisation – was the principal theme of his pontificate. He reminded us that “mercy” is the very name of God, and, therefore, no one can put a limit on his merciful love with which he wants to raise us up and make us new people.
    It is important to welcome as a precious treasure this principle on which Pope Francis insisted so much. And – allow me to say – our affection for him, which is being manifested in this time, must not remain a mere emotion of the moment; we must welcome his legacy and make it part of our lives, opening ourselves to God’s mercy and also being merciful to one another.
    Mercy takes us back to the heart of faith. It reminds us that we do not have to interpret our relationship with God and our being Church according to human or worldly categories. The good news of the Gospel is first and foremost the discovery of being loved by a God who has compassionate and tender feelings for each one of us, regardless of our merits. It also reminds us that our life is woven with mercy: we can only get back up after our falls and look to the future if we have someone who loves us without limits and forgives us. Therefore, we are called to the commitment of living our relationships no longer according to the criteria of calculation or blinded by selfishness, but by opening ourselves to dialogue with others, welcoming those we meet along the way and forgiving their weaknesses and mistakes. Only mercy heals and creates a new world, putting out the fires of distrust, hatred and violence: this is the great teaching of Pope Francis.
    Jesus shows us this merciful face of God in his preaching and in the deeds he performs. Furthermore, as we have heard, when he presents himself in the Upper Room after the resurrection, he offers the gift of peace and says: “If you forgive the sins of any, they are forgiven them; if you retain the sins of any, they are retained” (Jn 20:23). Thus, the risen Lord directs his disciples, his Church, to be instruments of mercy for humanity for those willing to accept God’s love and forgiveness. Pope Francis was a shining witness of a Church that bends down with tenderness towards those who are wounded and heals with the balm of mercy. He reminded us that there can be no peace without the recognition of the other, without attention to those who are weaker and, above all, there can never be peace if we do not learn to forgive one another, showing each another the same mercy that God shows us.
    Brothers and sisters, precisely on Divine Mercy Sunday we remember our beloved Pope Francis with affection. Indeed, such memories are particularly vivid among the employees and faithful of Vatican City, many of whom are present here, and whom I would like to thank for the service they perform every day. To you, to all of us, to the whole world, Pope Francis extends his embrace from Heaven.
    We entrust ourselves to the Blessed Virgin Mary, to whom he was so devoted that he chose to be buried in the Basilica of Saint Mary Major. May she protect us, intercede for us, watch over the Church, and support the journey of humanity in peace and fraternity. Amen.

    MIL OSI Europe News –

  • MIL-Evening Report: How much do election promises cost? And why have we had to wait so long to see the costings?

    Source: The Conversation (Au and NZ) – By Stephen Bartos, Professor of Economics, University of Canberra

    With the May 3 federal election less than a week away, voters have only just received Labor’s costings and are yet to hear from the Coalition.

    At the 2022 election, the costings were not released for nearly two months after polling day.

    Deputy Opposition Leader Sussan Ley last week told Sky News the Coalition costings will be “released in the lead up to election day and will be able to be fully interrogated”.

    This is now too late for the voters who have already cast their ballots. We have seen a record number of pre-poll votes this election, with more than 2.3 million as of Saturday. This means a sizeable percentage of the electorate has voted without knowing what their votes will cost.

    Voting without all the facts

    Whichever side wins, taxpayers eventually pay to implement policies. So knowing at least in broad terms the costs of the policies would be helpful.

    The Coalition has probably had many of its policies costed by the independent Parliamentary Budget Office. This process is thorough and impartial.

    Importantly, the Parliamentary Budget Office costs policies over ten years. This allows the full costs of policies to be understood better. Some policies such as large infrastructure take many years before the full impact on the budget is felt.

    Labor has already published the costs of many of its policies in the March 25 federal budget. This only covered the forward estimates, three years into the future, but is reliable for most policies. But we still need the costings for policies announced post-budget.

    The true picture?

    Even when we see the costings from both of the main parties, we can have no confidence their lists are accurate and complete. Parties may omit costings that might attract criticism.

    They may also present costings prepared by consultants rather than the Parliamentary Budget Office. You may recall controversy late last year over private modelling of the Coalition’s plans for nuclear power.

    Unfortunately we have to wait until after the election for a comprehensive and independent set of costings.

    The Parliamentary Budget Office does not publish its full list of costings (in the election commitments report) until well after the election. This is either 30 days from the end of the caretaker period or seven days before the new parliament first sits, whichever comes later.

    The election commitments report has some accountability value in relation to the party that forms government but does not help inform voters. It is a mystery why anyone would be interested in the costs of policies of the losing side. But they still must be published, according to electoral law.

    The report must include the major parties, although minor parties and independents can also be included in the report if they wish.

    Are there other approaches?

    By contrast, in New South Wales the state Parliamentary Budget Office publishes a complete set of costings five days before the election. Policies announced after this date miss out but these rarely affect the budget bottom line.

    Although, as occurs federally, many voters cast their ballots in advance, at least NSW’s approach gives most voters a chance to see the costs. This encourages the major parties to compete to produce a fiscally responsible total.

    The NSW approach is self-policing. Each major party studies the statements and if the other side omits something – large or small – they rapidly and loudly complain. Parties therefore try to make their policy lists as accurate as possible.

    Both sides are obliged by law to provide the budget office with all the proposed policies of the leader’s party.

    Toting up all the costs

    Federally, the budget office takes on the time-consuming job of tracking down all the policy announcements to cost and include in its post-election report.

    The differences arise from the different legislation that applies to each PBO.

    NSW has arguably an easier job because it costs policies only for the premier and leader of the opposition. The federal budget office costs for all members of parliament.

    The federal system requires policies submitted during the caretaker period, and their costings, must be published “as soon as practicable”. But major parties are highly unlikely to submit a policy only to have it and its costing released at a time not of its choosing.

    The requirement is likely motivated by transparency, but clashes with political reality. In NSW costings remain confidential until the leader advises the budget office the policy has been announced. This gives parties a way to have policies costed with a low risk of their premature release.

    DIY assessments

    Federally, there are other ways to estimate the costs of policies. The budget office has a Build your Own Budget Tool, and a tool for modelling alternative
    income tax proposals (SMART), both available online.

    These provide a fair approximation and are often used by journalists trying to get behind political announcements.

    The OECD lists 35 independent fiscal bodies in 29 OECD countries responsible for assessing election costings. Some are tiny, with just a few analysts. Some are
    huge and influential, like the US Congressional Budget Office. Few have the same focus on costing election policies that applies in Australia.

    Costs are a big deal here. Both parties have run advertisements attacking the other side on the question of whether their policies are affordable.

    On major policies such as the Coalition plans for nuclear power there are massive differences between cost estimates put forward by each side. Such differences could be resolved by an independent and impartial costing. This is why Australian voters deserve to see such costings as soon as possible.

    Stephen Bartos was NSW Parliamentary Budget Officer for the past three NSW general elections. He is now a professor at the University of Canberra.

    – ref. How much do election promises cost? And why have we had to wait so long to see the costings? – https://theconversation.com/how-much-do-election-promises-cost-and-why-have-we-had-to-wait-so-long-to-see-the-costings-255104

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Banking: Secretary-General of ASEAN receives Dean of ERIA School of Government

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, this morning met with the Dean of the Economic Research Institute for ASEAN and East Asia (ERIA) School of Government, Professor Nobuhiro Aizawa, at the ASEAN Headquarters/ASEAN Secretariat in Jakarta, Indonesia.

    The meeting discussed ongoing preparations for the upcoming ERIA Leadership Lecture by Samdech Akka Moha Sena Padei Techo Hun Sen, President of the Senate of the Kingdom of Cambodia, to be held on 6 May 2025, in ERIA’s office, in Jakarta.

    The post Secretary-General of ASEAN receives Dean of ERIA School of Government appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-Evening Report: A ketamine nasal spray will be subsidised for treatment-resistant depression. Here’s what you need to know about Spravato

    Source: The Conversation (Au and NZ) – By Nial Wheate, Professor, School of Natural Sciences, Macquarie University

    WPixz/Shutterstock

    An antidepressant containing a form of the drug ketamine has been added to the Pharmaceutical Benefits Scheme (PBS), making it much cheaper for the estimated 30,000 Australians with treatment-resistant depression. This is when a patient has tried multiple forms of treatment for major depression – usually at least two antidepressant medications – without any improvement.

    From May 1, a dose of Spravato (also known as esketamine hydrochloride) will cost $A31.60 and $7.70 for concession card holders.

    However, unlike oral antidepressants, Spravato can’t be taken at home. Here’s how it works, and who it’s expected to help.

    What is Spravato?

    The chemical ketamine is used as an anaesthetic. In this formulation it combines both the right-handed (designated “R”) and left-handed (called “S”) forms of the molecule.

    This means they are mirror images of each other, similar to how your left hand is a mirror image of your right hand. The left- and right-hand forms can have different effects in the body.

    Spravato contains only the left-handed version, giving the drug its generic name esketamine.

    Spravato works by increasing the levels of glutamate in the brain. Glutamate is a key chemical messenger molecule that excites brain nerve cells, lifting and improving mood. It also plays a role in learning and forming memories.

    How is it taken?

    Spravato cannot be taken at home.

    A patient can self-administer, but it must be done at a registered treatment facility, such as a hospital, under the supervision of medical staff so they can look out for blood pressure changes and monitor potential side effects.

    The drug is provided as a single-use nasal spray. This application means it’s absorbed directly through the nasal lining into the brain, so it starts to work within minutes.

    Spravato must also be taken alongside an oral antidepressant. This will be a new one the patient hasn’t tried before. In clinical trials, it was usually an SNRI or SSRI medication.

    When a patient first starts on Spravato, they are given the spray twice a week in the first month. It is then administered once a week for the second month, and then weekly or fortnightly after that.

    Once there are signs the medicine is working, treatment is continued for at least six months.

    You can use the spray yourself but it must be under medical supervision in a registered facility.
    Scarc/Shutterstock

    How effective is it?

    Spravato was approved for sale in Australia based on clinical trial data from more than 1,600 patients who were administered the drug for a period of four weeks. Each was given either Spravato, or a nasal placebo, and an oral antidepressant.

    Patients were given a starting dose of either 28 or 56mg, which could be then increased up to 84mg by their doctor.

    By the end of the four weeks, a greater percentage of patients who were given Spravato were found to have had a meaningful response to the treatment when compared with patients who received the placebo. Patients who were taking Spravato were also found to relapse at a lower rate. For those who did relapse, it took the Spravato patients longer to relapse when compared with patients who took the placebo.

    It is expected Spravato will benefit a wide range of patients. The clinical trials demonstrated effectiveness for men and women, people aged 18 to 64, and those from a range of different ethnic backgrounds.



    Read more:
    Depression too often gets deemed ‘hard to treat’ when medication falls short

    Potential side effects

    As with any medicine, Spravato may cause side effects, some of which can be serious. The most common include:

    • dissociation (feeling disconnected from yourself or what is around you)
    • dizziness
    • nausea and vomiting
    • drowsiness
    • headache
    • change in taste
    • vertigo.

    Because Spravato can potentially increase blood pressure, medical staff will monitor a patient before and after it is administered.

    Usually, blood pressure spikes around 40 minutes after taking the drug, so a reading is taken around this time. After taking Spravato, if their blood pressure has stayed low, or it’s dropping, the patient is given the all-clear to go home.

    Due to the potential for this and other serious side effects, Spravato carries a black triangle warning. This means medical staff are encouraged to report any problem or side effect to the Therapeutic Goods Administration. A black triangle warning is generally used for new medicines or medicines that are being used in a new way.

    Who will be eligible?

    To be eligible for a prescription, a patient will need to have been diagnosed with treatment-resistant depression. In practice, this means they will have unsuccessfully tried at least two other antidepressant drugs first.

    Australia’s Therapeutic Goods Administration approved Spravato for use in Australia in 2021, meaning it was available but not subsidised. Since then, the sponsoring company, Janssen-Cilag (an Australian subsidiary of the multinational Johnson & Johnson), applied to have it added to the PBS four times.

    In December 2024, the Pharmaceutical Benefits Advisory Committee recommended a PBS listing.

    The new PBS listing, capping the price of a single treatment at $31.60, is a significant price drop. In 2023, single doses of branded Spravato were reported to cost anywhere between $500 and $900.

    However, patients may still have to pay hundreds of dollars for appointments at private clinics where Spravato can be administered. Public places are available but limited.

    Spravato may be suitable for you if you’ve tried different antidepressants without success. If it is suitable for you, then your doctor can discuss the next steps.

    If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14.

    Nial Wheate in the past has received funding from the ACT Cancer Council, Tenovus Scotland, Medical Research Scotland, Scottish Crucible, and the Scottish Universities Life Sciences Alliance. He is a fellow of the Royal Australian Chemical Institute. Nial is the chief scientific officer of Vaihea Skincare LLC, a director of SetDose Pty Ltd (a medical device company) and was previously a Standards Australia panel member for sunscreen agents. He is a member of the Haleon Australia Pty Ltd Pain Advisory Board. Nial regularly consults to industry on issues to do with medicine risk assessments, manufacturing, design and testing.

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

    – ref. A ketamine nasal spray will be subsidised for treatment-resistant depression. Here’s what you need to know about Spravato – https://theconversation.com/a-ketamine-nasal-spray-will-be-subsidised-for-treatment-resistant-depression-heres-what-you-need-to-know-about-spravato-255403

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Peter Dutton calling the ABC and the Guardian ‘hate media’ rings alarm bells for democracy

    Source: The Conversation (Au and NZ) – By Denis Muller, Senior Research Fellow, Centre for Advancing Journalism, The University of Melbourne

    In front of a crowd of party faithful last weekend, Opposition Leader Peter Dutton referred to the ABC, Guardian Australia and other news platforms as “hate media”. The language was extreme, the inference being these outlets were not simply doing their jobs, but attacking him and his side of politics because of ideological bias.

    Speaking at a Liberal Party campaign rally in the Melbourne western suburb of Melton, Dutton said:

    Forget about what you have been told by the ABC, The Guardian and the other hate media. Listen to what you hear [at] doors. Listen to what people say on the pre-polling. Know in your hearts that we are a better future for our country.

    Melton is in the Labor-held seat of Hawke, which the Liberals believe they can win.

    Dutton provided no evidence to support his accusation, for the good reason that there has been nothing in the ABC’s or Guardian Australia’s coverage of Dutton that could remotely justify it.

    By a process of elimination, the “other hate media” to which he referred can only be The Age and The Sydney Morning Herald, given the News Corporation mastheads have been unflagging in their support for him throughout the campaign.

    What has been common to the campaign coverage by the ABC, Guardian Australia, The Age and the SMH has been close scrutiny of both sides and both leaders.

    The three newspapers in particular have put renewed resources into independently fact-checking claims made by both Dutton and Prime Minister Anthony Albanese, and have caught out both men telling falsehoods.

    The broadcast news media on the whole have played it straight, except of course for Sky News after dark, which has been as relentlessly pro-Coalition as their News Corp newspaper stablemates.

    Beyond these professional mass media platforms, there have been clearly partisan social media influencers working on both sides, as well as a range of podcasters, but none of these has been guilty of hate speech towards Dutton or anyone else.

    The inescapable conclusion is that Dutton equates scrutiny of him by journalists with hate speech.

    This is where his attitude becomes dangerous to democracy. It comes straight from US President Donald Trump’s playbook, where the professional mass media are “fake news” and the “enemy of the people”.

    It is designed to play not just on people’s longstanding distrust of the news media in general – though not of the ABC – but on some voters’ sense of grievance at the way governments have treated them.

    This worked for Trump in the United States, but it became obvious early in the campaign that any association with Trumpism was a strong political negative in Australia, particularly in the atmosphere of alarm generated by his tariff war.

    Dutton then took pains to distance himself from Trumpism, and at the Liberal launch in Western Australia his face was a picture of alarm when Jacinta Nampijinpa Price, whom he had appointed to the Trumpian-sounding post of shadow minister for government efficiency, used the slogan “Make Australia Great Again”.

    But it is typical of his incoherent campaign that at the start of the last week he should be echoing the Trumpian view of the media in such extreme terms, creating even more instability. In an ABC interview, his shadow minister for finance, Jane Hume, refused to support him, saying “that wouldn’t be a phrase I would use”.

    It also raises legitimate questions about how Dutton would treat the media should he become prime minister. For example, if a media platform refused to obey his wishes, or provide him with coverage of which he approved, would its representatives be excluded from prime ministerial access?

    Not long ago, such a proposition would have been inconceivable, but Trump banned the Associated Press (AP) from presidential access because it would not obey his instruction to rename the Gulf of Mexico the Gulf of America. A federal judge later found the ban violated the First Amendment, and ordered AP’s access to be restored.

    It is very improbable Dutton would even try to impose his will on the commercial media in Australia, especially the newspapers.

    In fact, Guardian Australia has turned his remark into a fundraising opportunity. It emailed subscribers with the subject line “A note from the ‘hate media’,” comparing Dutton’s language to that of Trump, and asking for financial support to keep holding figures like Dutton to account.

    But his potential to punish the publicly funded ABC is another matter.

    From statements he has made during the campaign, it seems certain the ABC would be in for more funding cuts and an investigation into its operations of the kind Trump has launched into America’s National Public Radio.



    Read more:
    What would – and should – happen to the ABC under the next federal government?

    Coalition prime ministers going back to John Howard have had a hostile relationship with the ABC. Howard stacked the ABC board, and the panel that nominates its members, with ideological mates.

    In the eight years from 2014 to 2022, under the Coalition governments of Tony Abbott, Malcolm Turnbull and Scott Morrison, $526 million was cut from the ABC’s budget.

    During that time, there was also a series of inquiries into the ABC, set up to satisfy politicians with a beef against the ABC, notably Pauline Hanson.

    The day after Dutton’s “hate media” statement, the ABC’s 4 Corners program revealed he failed for two years to disclose he was the beneficiary of a family trust that operated lucrative childcare businesses when he was a cabinet minister.

    This is unlikely to improve his view of the national broadcaster. He may even see it as more hate. In fact, it is just good journalism.

    Denis Muller and Nicole Chvastek will discuss this further on their Truth, Lies and Media podcast on Wednesday April 30.

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

    – ref. Peter Dutton calling the ABC and the Guardian ‘hate media’ rings alarm bells for democracy – https://theconversation.com/peter-dutton-calling-the-abc-and-the-guardian-hate-media-rings-alarm-bells-for-democracy-255412

    MIL OSI Analysis – EveningReport.nz –

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    Source: GlobeNewswire (MIL-OSI)

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    Why 7Bit Stands Out Globally

    7Bit Casino’s global appeal stems from its accessibility and player-centric features, making it the best online casino:

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    These features make 7Bit the best casino online for a global audience, combining flexibility, security, and innovation.

    Mobile Gaming at 7Bit Casino

    7Bit Casino’s mobile platform is a standout feature, offering a seamless best online casino experience on iOS and Android devices. The responsive website, built with HTML5, ensures all 10,000+ games are accessible without a dedicated app. Players can enjoy slots, live dealer games, and instant win titles on the go, with intuitive navigation and fast load times. Mobile banking supports instant crypto transactions, and 24/7 support is available via live chat, making 7Bit a best casino sites leader for mobile gaming.

    7Bit Casino Conclusion: The Best Online Casino

    After evaluating global platforms, 7Bit Casino is the best online casino for 2025. Its 10,000+ games, from slots to live dealers, cater to all preferences, powered by top providers like NetEnt and Evolution Gaming.

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    Frequently Asked Questions

    • What makes 7Bit Casino the best online casino?

    7Bit Casino excels with over 10,000 games, a 325% bonus up to 5.25 BTC, 250 free spins, instant crypto payouts, and robust security, making it ideal for global players.

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    Licensed by Curacao eGaming, 7Bit Casino uses 128-bit SSL encryption and provably fair algorithms, ensuring a safe and fair gaming environment for all players.

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    7Bit Casino supports Bitcoin, Ethereum, Litecoin, Visa, Mastercard, Skrill, and more, with instant crypto withdrawals and flexible fiat options.

    • Does 7Bit Casino require KYC verification?

    KYC is required for withdrawals over $2,000 at 7Bit Casino, involving photo ID and address verification to ensure security.

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    7Bit Casino is restricted in some regions; players should review terms to confirm eligibility, as access varies by jurisdiction.

    • How fast are withdrawals at 7Bit Casino?

    Crypto withdrawals at 7Bit Casino are instant, while fiat withdrawals via Visa or bank transfer take 1-3 days for processing.

    • What games are available at 7Bit Casino?

    7Bit Casino offers slots, blackjack, roulette, poker, live dealer games, and instant win titles, with 10,000+ options for all players.

    • Why is 7Bit Casino the best real money online casino?

    7Bit Casino leads with its vast game selection, generous bonuses, instant payouts, and robust security, making it the top choice for real-money gaming.

    Email: support@7bitcasino.com

    Legal Disclaimer

    This content is for informational and entertainment purposes only and is not legal, financial, or gambling advice. Information is presented “as is,” with no warranties on accuracy or completeness. Readers must verify information and ensure compliance with local gambling laws. The publisher and authors are not liable for losses or consequences from using this information.

    Affiliate Disclosure

    Some links may be affiliate links, earning a commission at no cost to you. Recommendations are based on objective criteria, and affiliate partnerships do not influence content or conclusions.

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    The MIL Network –

  • MIL-OSI: Best Online Casinos New Zealand: 7Bit Casino Picked as Top Casino for NZ Players

    Source: GlobeNewswire (MIL-OSI)

    WELLINGTON, New Zealand, April 28, 2025 (GLOBE NEWSWIRE) — After spending some time exploring various online casinos in New Zealand, it became clear that most just didn’t deliver when it came to bonuses or overall experience. That’s when a few local players in New Zealand pointed us toward something better- 7Bit Casino. It stood out from the moment we signed up, kicking things off with a massive welcome bonus. With thousands of games and easy crypto payments, it turned out to be one of the smoothest and most enjoyable platforms we’ve tried.

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    Our Favourite Overall Casino New Zealand: 7Bit

    7Bit Casino earns its place as the top pick for the best online casinos in New Zealand due to its all-around excellence. Its massive game selection, from classic pokies like Mega Moolah to immersive live dealer tables, ensures endless entertainment. The anonymous online casino approach, combined with robust security, appeals to players who value privacy. Regular promotions, such as weekly cashback and free spins, keep the experience fresh. For Kiwi players, 7Bit’s blend of variety, bonuses, and fast payouts makes it a standout.

    The casino’s commitment to innovation, such as integrating cryptocurrencies and offering a seamless mobile experience, sets it apart. Its retro aesthetic adds a unique charm, making every session visually engaging. Whether you’re a casual player or a high roller, 7Bit delivers a gaming experience that’s hard to beat.

    7Bit Casino Features

    7Bit Casino has earned its spot as one of the best online casinos in New Zealand. Licensed by Curacao and trusted for over a decade, it offers a secure, reliable experience for real money players. With a massive library of 10,000+ games, including pokies, table games, and live dealers, it covers all bases.

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    The process takes minutes, and the best no KYC casino ensure minimal hassle for anonymous play. Always ensure you meet New Zealand’s legal gambling age (19) before signing up.

    Pros and Cons of 7Bit Casino

    Pros

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    • Generous welcome bonus: Get 325% up to 10800 NZD + 250 F
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    • Frequent promotions and a rewarding VIP program.
    • Mobile-friendly platform with a robust app-like experience.

    Cons

    • High wagering requirements on bonuses can be challenging.
    • Bank transfers are slower compared to crypto or e-wallet options.
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    Despite these drawbacks, 7Bit’s strengths make it a top contender among New Online Casinos in New Zealand, offering a balanced mix of entertainment and reliability.

    How We Selected the Best Online Casinos in New Zealand

    Choosing the best online casinos in New Zealand involves a rigorous evaluation process. Our experts assess multiple factors to ensure only top-tier platforms like 7Bit Casino make the cut. Here’s how we evaluate:

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    A valid license is non-negotiable. 7Bit Casino holds a Curacao eGaming license, ensuring compliance with industry standards. SSL encryption protects player data, and provably fair games guarantee transparency. For players seeking an anonymous online casino, 7Bit’s minimal KYC requirements add an extra layer of privacy.

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    • 1st Deposit Offer: 100% + 100 FS
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    • New Game Offer: 50 free spins
    • Easter Crypto Offer: 75 free spins
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    • Monday Offer: 25% + 50 FS
    • Wednesday Offer: Up to 100 free spins
    • Reload Friday Offer: 111 free spins
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    • Telegram Offer: 50 free spins
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    3. Casino Games

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    Our methodology ensures that only the best online casinos in New Zealand, like 7Bit, meet the needs of Kiwi players, balancing fun, safety, and convenience.

    How We Choosed 7Bit as Best Online Casino NZ

    Selecting top-rated casino sites like 7Bit involves a detailed process. We prioritize player experience, focusing on usability, game variety, and payout speed. Security is paramount, with licensed platforms like 7Bit undergoing regular audits. Bonuses must be generous yet fair, and customer support should be accessible. For New Online Casinos, we also consider innovation, such as crypto integration or unique features like 7Bit’s best no KYC casino option. This ensures only the best platforms shine.

    We also analyze user reviews and industry trends to gauge reputation. 7Bit’s decade-long presence and positive feedback from Kiwi players solidify its status. By combining objective metrics with real-world insights, we identify casinos that deliver exceptional value.

    The Selection Process: Defining Excellence in Online Gaming

    Our selection process for the best online casinos in New Zealand is thorough and transparent. We evaluate casinos based on:

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    This process confirms 7Bit as a leader among New Online Casinos, delivering excellence in every aspect of online gaming.

    Games Offered in 7Bit Casino

    7Bit Casino is a gaming paradise, offering over 10,000 games to suit every taste. From classic pokies to immersive live dealer tables, the variety is staggering. Popular titles like Mega Moolah, Raging Lion, and Johnny Cash offer high RTPs and thrilling gameplay. The casino also features instant-win games, scratch cards, and progressive jackpots, ensuring something for everyone. For fans of best online casinos New Zealand, 7Bit’s library is a treasure trove.

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    1.   Craps

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    Payment Options Available in 7Bit Casino

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    Additional Notes

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    Conclusion – Why 7Bit Casino Top New Zealand Online Casino

    7Bit Casino is the ultimate destination for Kiwi players seeking the best online casinos New Zealand. Its vast game library, generous bonuses, and flexible payment options create a top-tier gaming experience. From pokies to live dealer tables, 7Bit caters to all preferences while prioritizing security and privacy. The anonymous online casino features and Pay ID Casino support make it a standout. Whether you’re chasing free spins or big jackpots, 7Bit delivers unmatched value and excitement.

    Frequently Asked Questions

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    Yes, 7Bit is licensed by Curacao eGaming and uses SSL encryption, making it a secure choice among Best Online Casinos New Zealand.

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    Email: Support@7bitCasino.com

    Disclaimers and Affiliate Disclosure

    General Disclaimer
    This article is for informational and entertainment purposes only, not legal or financial advice. Content is based on research and user reviews as of writing. No warranties are made, and users must verify information before acting.

    Casino and Gambling Disclaimer
    Online gambling carries risks and isn’t for everyone. Confirm you’re of legal gambling age in your jurisdiction. Gambling laws vary, and compliance is your responsibility. We don’t promote gambling; participation is at your risk. 7Bit Casino is a third-party platform, and we’re not liable for losses or disputes.

    Affiliate Disclosure
    This article may include affiliate links, earning us a commission at no cost to you for qualifying actions. These support our content. Our reviews are unbiased, and we recommend only valuable products. Do your own research before signing up.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/10718a9c-846b-4181-8c60-cf087632b3f1

    The MIL Network –

  • MIL-OSI: NBPE Announces Audited 2024 Results and 31 March 2025 Est. NAV

    Source: GlobeNewswire (MIL-OSI)

    THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

    St Peter Port, Guernsey   28 April 2025

    NB Private Equity Partners (NBPE), the $1.3bn FTSE 250 listed private equity investment company managed by Neuberger Berman, today releases its 2024 Annual Financial Report and 31 March 2025 Monthly NAV Update.

    Audited Annual Results Highlights (31 December 2024)

    • NAV per share of $27.53 (£21.98)
    • 1.5% NAV TR in the 12 months to 31 December 2024, driven by an increase in private valuations, offset by quoted holdings and FX
    • Private portfolio value increased 6.9% in 2024 on a constant currency basis
    • Strong portfolio company operating performance: LTM revenue and EBITDA growth of 8.0% and 13.1%, respectively, during 20241
    • $179 million of proceeds from realisations received during 2024
    • Well positioned to take advantage of investment opportunities – $283 million of cash and undrawn credit line available
    • $0.94 per share of dividends paid during 2024
    As of 31 December 2024 2024 3 years 5 years 10 years
    NAV TR (USD)*
    Annualised    		 1.5% (4.0%)
    (1.3%)    		 68.8%
    11.0%    		 166.2%
    10.3%
    MSCI World TR (USD)*
    Annualised    		 19.2% 22.0%
    6.9%    		 73.9%
    11.7%    		 171.9%
    10.5%
             
    Share price TR (GBP)*
    Annualised    		 (1.1%) (2.3%)
    (0.8%)    		 62.1%
    10.1%    		 231.2%
    12.7%
    FTSE All-Share TR (GBP)*
    Annualised    		 9.5% 18.5%
    5.8%    		 26.5%
    4.8%    		 81.9%
    6.2%

    *Reflects cumulative returns over the time periods shown and are not annualised.

    Peter Von Lehe, Managing Director and Head of Investment Solutions & Strategy at Neuberger Berman commented:

    “NBPE ended 2024 with net assets of $1.3 billion, reflecting a NAV per share of $27.53 and a total NAV return of 1.5% for the year. This performance was driven by the strong operating performance of our private investment portfolio, which grew in value by 6.9% on a constant currency basis. However, these gains were partially offset by the impact of foreign exchange fluctuations and public holdings. Despite a more challenging environment for private equity exits, NBPE delivered solid realisations in 2024, generating $179 million in proceeds – equivalent to 14% of the portfolio’s opening fair value.

    NBPE ended the year in a strong financial position with $283 million of available liquidity and an investment level of 102%, which is at the lower end of the long-term target investment level range of 100-110%.”

    Paul Daggett, Managing Director of Neuberger Berman, continued:

    “Overall, the underlying portfolio of private companies continued to perform well, reporting a weighted average LTM revenue and EBITDA growth1 of 8.0% and 13.1%, respectively. It is encouraging to see that the four new investments made in 2024 are off to a good start, being valued at a 1.1x gross multiple of capital and generating a 22% IRR on a combined basis as of 31 December 2024.

    Despite recent market volatility and uncertainty, we remain confident that NBPE is well-positioned to perform across a range of economic scenarios. The portfolio remains well-diversified across our two key themes, and we believe it is well-positioned to continue to deliver growth over the long term.”

    The Company’s 2024 Annual Report and a video from Neuberger Berman to accompany the results are available to view at: https://www.nbprivateequitypartners.com/

    Portfolio Update to 31 March 2025

    NAV TR increase of 0.4% YTD 2025

    • 31 March 2025 NAV per share of $27.17 (£21.05)
    • YTD NAV driven by positive FX adjustments, offset by declines in quoted holdings
    • 31 March 2025 monthly NAV estimate does not include any Q1 2025 private company valuations

    Realisations from the portfolio in 2025

    • $47 million of proceeds received in the first three months of 2025
      • Realisations to date driven by full exits of USI and Kyobo Life Insurance, partial realisations of Tendam, Qpark, Clearent, and Osaic, as well as full and partial realisations of certain quoted holdings and income investments
    • A further ~$20 million of proceeds is expected in the coming months from pending transactions

    Robust liquidity – well positioned to take advantage of opportunities

    • $283 million of available liquidity ($73 million cash/liquid investments and $210 million of credit line)

    2025 Share Buybacks

    • Through 25 April 2025, NBPE has repurchased approximately 624k shares for $12.3 million at a weighted average discount of 29%, resulting in a NAV accretion of approximately $0.10 per share

    Portfolio Valuation
    The fair value of NBPE’s portfolio as of 31 March 2025 was based on the following information:

    • 6% of the portfolio was valued as of 31 March 2025
      • 6% in public securities
    • 94% of the portfolio was valued as of 31 December 2024
      • 93% in private direct investments
      • 1% in private fund investments

    For further information, please contact:

    NBPE Investor Relations        +44 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com  

    Kaso Legg Communications        +44 (0)20 3882 6644
    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    Supplementary Information (as at 31 March 2025)

    Company Name Vintage Lead Sponsor Sector Fair Value ($m) % of FV
    Action 2020 3i Consumer 76.8 6.1%
    Osaic 2019 Reverence Capital Financial Services 63.5 5.0%
    Solenis 2021 Platinum Equity Industrials 60.5 4.8%
    BeyondTrust 2018 Francisco Partners Technology / IT 50.1 4.0%
    Monroe Engineering 2021 AEA Investors Industrials 42.6 3.4%
    Business Services Company* 2017 Not Disclosed Business Services 40.1 3.2%
    Branded Cities Network 2017 Shamrock Capital Communications / Media 38.9 3.1%
    GFL (NYSE: GFL) 2018 BC Partners Business Services 38.5 3.0%
    Mariner 2024 Leonard Green & Partners Financial Services 33.7 2.7%
    True Potential 2022 Cinven Financial Services 33.5 2.6%
    FDH Aero 2024 Audax Group Industrials 32.9 2.6%
    Marquee Brands 2014 Neuberger Berman Consumer 31.8 2.5%
    Staples 2017 Sycamore Partners Business Services 29.7 2.3%
    Auctane 2021 Thoma Bravo Technology / IT 28.7 2.3%
    Fortna 2017 THL Industrials 28.7 2.3%
    Viant 2018 JLL Partners Healthcare 27.1 2.1%
    Stubhub 2020 Neuberger Berman Consumer 26.4 2.1%
    Benecon 2024 TA Associates Healthcare 25.5 2.0%
    Agiliti 2019 THL Healthcare 25.3 2.0%
    Engineering 2020 NB Renaissance / Bain Capital Technology / IT 25.0 2.0%
    Solace Systems 2016 Bridge Growth Partners Technology / IT 24.5 1.9%
    Addison Group 2021 Trilantic Capital Partners Business Services 23.8 1.9%
    Kroll 2020 Further Global / Stone Point Financial Services 23.7 1.9%
    Exact 2019 KKR Technology / IT 22.2 1.8%
    CH Guenther 2021 Pritzker Private Capital Consumer 22.0 1.7%
    Excelitas 2022 AEA Investors Industrials 21.9 1.7%
    Bylight 2017 Sagewind Partners Technology / IT 19.9 1.6%
    Real Page 2021 Thoma Bravo Technology / IT 18.5 1.5%
    AutoStore (OB.AUTO) 2019 THL Industrials 18.2 1.4%
    Constellation Automotive 2019 TDR Capital Business Services 18.2 1.4%
    Total Top 30 Investments       $972.3 76.9%

    *Undisclosed company due to confidentiality provisions.

    Geography % of Portfolio
    North America 77%
    Europe 22%
    Asia / Rest of World 1%
    Total Portfolio 100%
       
    Industry % of Portfolio
    Tech, Media & Telecom 23%
    Consumer / E-commerce 21%
    Industrials / Industrial Technology 18%
    Financial Services 13%
    Business Services 12%
    Healthcare 8%
    Other 4%
    Energy 1%
    Total Portfolio 100%
       
    Vintage Year % of Portfolio
    2016 & Earlier 10%
    2017 16%
    2018 14%
    2019 14%
    2020 13%
    2021 18%
    2022 5%
    2023 2%
    2024 8%
    Total Portfolio 100%

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman
    Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $515 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of March 31, 2025.

    This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

    NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.

    Attachments

    The MIL Network –

  • MIL-Evening Report: PodTalk.live ushers in new ‘indie’ information and debate era

    PodTalk.live

    After a successful beta-launch this month, PodTalk.live has now called for people to register as foundation members — it’s free to join the post and podcast social platform.

    The foundation membership soft-launch is a great opportunity for founders to help shape a brand new, vibrant, algorithm-free, info discussion and debate social platform.

    “PodTalk.live has been put to test by selected individuals and we’re pleased to report that it has performed fabulously,” said the the platform developer Selwyn Manning.

    Manning is founder and managing director of the company that custom-developed PodTalk.live — Multimedia Investments Ltd.

    PodTalk.live . . . a new era. Image: PodTalk screenshot APR

    MIL is based in Aotearoa New Zealand, where PodTalk.live was developed and is served from.

    And now, PodTalk.live has emerged from its beta stage and is ready for foundation members to shape the next phase of its development.

    An alternative platform
    PodTalk.live was designed to be an alternative platform to other social media platforms.

    PodTalk has all the functions that most social media platforms have but has placed the user-experience at the centre of its backend design and engineering.

    PodTalk.live has been custom-designed, created and is served from New Zealand.

    “We ourselves became annoyed at how social media giants use algorithms to drive what content their users see and experience,” Manning said.

    “And, we also were appalled at how some social media companies trade user data, and were unresponsive to user-concerns.

    “So we decided to create a platform that focuses on ‘discussion and debate’ communities, and we have engineered PodTalk to ensure the content that users see is what they choose — rather than some obscure algorithm making that decision for them.

    “PodTalk.live is independent from other social media platforms, and at best will become an alternative choice for people who seek a community where they are the centre of a platform’s core purpose.

    Sign-up invitation
    ““And today, we invite people to sign up now and become foundation members of this new and ethically-based social community platform,” Manning said.

    What PodTalk.live provides includes:

    • user profiles with full interactivities with other users and friends;
    • user created groups, posts, video, images, polls, and file sharing;
    • private and secure one-on-one (and group) messages;
    • availability of all the above for entry users with a free membership;
    • premium membership for podcasters and event publishers requiring easy to use podcast publication and syndication services; and next-level community engagement tools that users have all on the one platform.

    Manning said PodTalk.live was founded on the belief that for social, political and economical progress to occur people needed to discuss issues in a safe environment and embark on robust debate.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Plans to stockpile critical minerals will help Australia weather global uncertainty – and encourage smaller miners

    Source: The Conversation (Au and NZ) – By Mohan Yellishetty, Professor, Co-Founder, Critical Minerals Consortium, and Australia-India Critical Minerals Research Hub, Monash University

    RHJPhtotos/Shutterstock

    The world needs huge quantities of critical minerals to make batteries, electric vehicles, wind turbines, mobile phones, computers and advanced weaponry.

    Many of these minerals lie under Australian soil. Australia is able to produce 9 out of 10 mineral elements required to produce lithium-ion batteries, such as lithium, nickel and cobalt. It also has the highest total reserves of battery minerals.

    But at a time of major geopolitical upheaval, critical minerals are also contested. China controls many critical mineral supply chains, allowing it to dominate clean energy technologies. The ongoing United States–China trade war has intensified competition for access to critical minerals.

    It’s against this backdrop that Labor has proposed a A$1.2 billion strategic reserve of critical minerals. It’s a timely and welcome step in the right direction.

    Why is this reserve needed?

    Critical minerals are vital to the industries of the future. But supply can be hard to secure and disruptions can be devastating.

    After US President Donald Trump jacked up tariffs on China, Beijing responded by clamping down on critical mineral exports. Almost 80% of US weaponry depends on Chinese critical minerals.

    China now dominates mining and refining of many critical minerals. Beijing controls 90% of the world’s rare earth refining, 80% of lithium refining and 68% of nickel refining. The US and other nations are belatedly trying to catch up.

    Mining has long been a major Australian industry, particularly iron ore and coal. But Australia has huge reserves of many critical minerals, producing the largest volume of lithium ore in the world as well as stocks of cobalt, manganese, rutile and others. Australian miners Lynas and Australian Strategic Materials are two of the few rare-earth mining companies not owned by China.

    That’s where this strategic reserve comes in. If it comes to fruition, the federal government would buy agreed volumes of critical minerals from commercial projects, or establish an option to purchase them at a given price. It would then keep stockpiles of these key minerals to prevent market manipulation by China and stabilise prices by releasing or holding stocks strategically.

    The reserve would give Canberra more leverage in negotiating with trading partners and enable a rapid response to supply disruptions. Government backing for the industry would boost onshore processing, scale up domestic production and encourage more high-wage, high-skill jobs in regional areas.

    Which minerals will be stockpiled? That’s yet to be determined. The list of ‘critical minerals’ can vary between countries, and a mineral critical to one nation may not be to another.

    Australia lists 31 critical minerals while Japan lists 35, the US lists 50 and the European Union 34. Australia’s list is unique in that it reflects global demand, not domestic dependency.

    The minerals most commonly included in these lists include cobalt, gallium, indium, niobium, tantalum, platinum group minerals and rare earth elements.

    Why is the government intervening?

    In 2023, major miners produced close to a billion tonnes of iron ore in Western Australia.

    By contrast, critical mineral volumes are small. For instance, only 610 tonnes of gallium were mined in 2023. Major miners such as Rio Tinto, BHP and Vale don’t tend to bother.

    Critical mineral markets are often opaque and highly concentrated. The barrier to entry is high. Globally, the market for the 31 critical minerals on Australia’s list is valued at around A$344 billion – about the size of the global aluminium market.

    That leaves it to mid-tier and small miners to bridge the gap between rapidly growing demand and supply. The problem is, raising capital is often very difficult. The price of critical minerals can fluctuate wildly. The price of lithium and nickel have fallen sharply over the last two years due to market oversupply.

    The strategic reserve would make it easier for these miners by providing access to capital through loans from Export Finance Australia and private investors, reducing financial uncertainty and cost overruns and acting as a buffer against market volatility.

    For instance, mid-tier miner Illuka Resources is building Australia’s first rare earths refinery in Western Australia. The project already has significant government support, but it is likely to need more.

    Despite Australia’s significant mineral resources, it faces an uphill battle to gain market share. China’s dominance has been driven by low production costs; low environmental, social and goverance standards; and a competitive labour market. But intensifying geopolitical competition between China and the US means Australian minerals would likely be sought by the US.

    How can Australia best play its hand?

    In volatile market conditions, cheaper operations have a significant advantage, while new mines face an uphill battle.

    Australia’s critical minerals hub framework could help offset capital costs. Smaller miners could form cooperatives to share infrastructure and manage logistics, processing and access to international markets. Sharing infrastructure such as roads, rail, energy and ports would reduce the investment risk.

    There are other challenges to overcome, such as the long lead times of 10 years or more to go from discovery to production, limited access to low-cost renewable energy and a shortage of technical and scientific capabilities.

    Labor’s strategic reserve would help. But it won’t be enough to make Australia into a critical mineral giant. The government should consider:

    • building more regional processing hubs with shared infrastructure and microgrids
    • offering royalty exemptions, tax incentives and energy subsidies early on
    • giving incentives to retrofit facilities to produce critical minerals found alongside main ores, such as cobalt found alongside copper and antimony with gold
    • encouraging models where rare earths are concentrated in Australia and processed overseas in partner countries
    • establishing Centres of Excellence on critical minerals and creating shared libraries of intellectual property to support research, avoid duplication and optimise resource allocation.

    Overall, the proposed reserve is an excellent idea. Government intervention will be necessary to absorb and mitigate risks from price fluctuations and geopolitical shocks.

    Mohan Yellishetty receives funding from the Australian Research Council, Geoscience Australia, Defense Science Institute, Boral Limited, AGL Loy Yang, Indian Ministry of Education. He is affiliated with AusIMM as its fellow, Honorary Academic Fellow, Australia India Institute, Foreign Fellow, Indian Geophysical Union, and affiliated with Indian Institute of Technology (Dharwad, Mumbai, Hyderabad). David Whittle contributed to the research base and data for this article.

    – ref. Plans to stockpile critical minerals will help Australia weather global uncertainty – and encourage smaller miners – https://theconversation.com/plans-to-stockpile-critical-minerals-will-help-australia-weather-global-uncertainty-and-encourage-smaller-miners-255320

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI New Zealand: Govt’s further backtrack on Te Tiriti o Waitangi at Pharmac endangers Māori health – PSA

    Source: PSA

    Pharmac’s proposal to axe its specialist Māori advisory team is another sad example of the low priority the Government places on improving the health of Māori.
    The proposed scrapping of the Māori Directorate announced to staff today will see a net loss of three roles, including those responsible for supporting an anti-racism research programme, and the roles responsible for supporting the work of the now-defunct Māori Advisory Group.
    “This is an abandonment of Pharmac’s commitment to the health of Māori and another breach of Te Tiriti o Waitangi,” said Janice Panoho, Te Kaihautū Māori for the Public Service Association Te Pūkenga Here Tikanga Mahi.
    This follows a decision in October last year to scrap the independent Māori Advisory Group, Te Rōpū Māori, made up of medical specialists including doctors, pharmacists and researchers.
    This was a result of the Government’s Letter of Expectations to Pharmac instructing it to stop embedding Te Tiriti o Waitangi in its funding decisions.
    “This latest proposal flies in the face of Pharmac’s statutory obligation to consider equity and address racism in access to medicines – this change will further diminish the voice of Māori in Pharmac’s funding decisions.
    “The dismantling of Pharmac’s Māori leadership capacity is unacceptable. It sends a clear message to our communities, that Māori voices in the health system can be ignored, erased, and sidelined.
    “Across the public service, the Government is overriding its legal obligations under Te Tiriti o Waitangi and washing its hands of the partnership between the Crown and Māori that previous governments embraced.
    “We urge the Government and Pharmac to not walk away from Te Tiriti o Waitangi if it’s serious about improving the health outcomes of Māori.”
    The PSA stands with its Māori members at Pharmac and calls for a firm recommitment to equity in health outcomes for Māori and its community.
    The Public Service Association Te Pūkenga Here Tikanga Mahi is Aotearoa New Zealand’s largest trade union, representing and supporting more than 95,000 workers across central government, state-owned enterprises, local councils, health boards and community groups.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: UNICEF to launch groundbreaking project to 3D print prosthetics for war-injured Gaza children

    Source: UNICEF Aotearoa NZ

    A groundbreaking project to 3D print prosthetic limbs for war-injured children in Gaza will be launched by UNICEF, thanks to funding from a New Zealand organisation.
    Gaza currently has the highest number of child amputees per capita in the world. Over 23,000 children have sustained conflict-related injuries, and many thousands are facing disabilities and needing long-term rehabilitation.
    Funding of more than quarter of a million dollars from a new collaboration between UNICEF Aotearoa and the Federation of the Islamic Associations of New Zealand ( FIANZ) has allowed a pilot to launch with the planning of a production facility in Jordan to ‘print’ desperately needed prosthetics.
    3D printed prosthetics cost around a sixth of the price of traditional prosthetics and can be made efficiently based on digital measurements taken using a smart phone. This helps solve the common issues of seriously injured children facing long and treacherous journeys to clinics to be assessed. They also allow for the fact that as children grow, they need new and updated components every six months. The project is intended to vastly improve efficiency and outcomes for children.
    UNICEF is working with leading global prosthetics manufacturers, alongside hospital and physiotherapist teams in the region who will collaborate on the wrap-around services each affected child may need. Partnerships with existing hospitals and facilities will help UNICEF ensure children in Gaza are still reached despite incredibly difficult conditions at the border and the breaking of the previous ceasefire.
    FIANZ president Ibrar Shaikh said the organisation has a focus on improving the lives of children, who are often the most affected by conflict.
    “This project directly addresses the physical and emotional well-being of children, alongside providing a tangible way to restore hope and dignity,” he said.
    “The collaboration between a local organisation like FIANZ and a global entity like UNICEF demonstrates how even smaller organisations can contribute meaningfully to groundbreaking humanitarian efforts. This work serves as an inspiration for other organisations to strive beyond their perceived limitations, reinforcing the collective potential to create a more compassionate and just world”.
    UNICEF Aotearoa CEO Michelle Sharp said the funding collaboration was a leading example of the tangible change and impact that can be made for children.
    “When organisations with a passion to help others, such as FIANZ, join with us – we can make incredible things happen to improve the lives of children who are enduring some of the toughest conditions imaginable,” she said.
    “This funding has meant a groundbreaking project has been able to launch which will go on to become a blueprint for the future as we aim to reach as many children in need as possible. We are honoured to build this relationship with FIANZ and look forward to seeing the outcomes we can achieve together”.

    MIL OSI

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on April 28, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 50,000
    Total amount of bids received (in ₹ crore) 4,998
    Amount allotted (in ₹ crore) 4,998
    Cut off Rate (%) 6.01
    Weighted Average Rate (%) 6.01
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/193

    MIL OSI Economics –

  • MIL-OSI Australia: Health promotion scholarships to inspire next generation of leaders

    Source: South Australia Police

    A $660,000 funding boost from Healthway will support the next generation of health promotion leaders through a scholarship program run by the Australian Health Promotion Association.

    Healthway CEO Colin Smith said six exceptional graduates have recently been awarded a Health Promotion Scholarship, providing them with an incredible opportunity to launch their career.

    “This program is among the few capacity building workforce programs available nationally in public health,” he said.

    “Each scholarship, valued a $110,000 each, pays for 12 months full-time salary, working at an organisation of the graduate’s choice on a project they want to develop.

    “Congratulations to all scholarship recipients, we look forward to your contributions to health promotion in the years to come.”

    Australian Health Promotion Association National President Melinda Edmunds expressed gratitude for the long-standing partnership with Healthway.

    “Over 30 years, we have provided opportunities for 85 graduates and 40 Aboriginal and Torres Strait Islander scholarship recipients,” she said.

    “Not only does this scholarship program pave the way for the next generation of WA health promotion leaders, but it significantly boosts the health promotion capacity within the host organisation.”

    “For many past recipients, their contributions have been so significant that the host organisations have chosen to retain them even after the scholarship has ended,” she said.

    To find out more visit Health Promotion Scholarships.

    Scholarship recipient

    Host organisation

    Project description

    Jade Ashwell from Wanneroo

    Foodcore

    Project aims to empower Out of School Hours Care (OSHC) educators through capacity building activities and
    direct food and nutrition support and resources

    Charlene Carlisle
    from Jane Brook
    Aboriginal recipient

    Act Belong
    Commit at Curtin

    Project aims to promote mindful movement for children and young people through the Deadly Minds Project, a culturally safe Indigenous yoga teacher training. Deadly Minds supports children’s social and emotional
    wellbeing by teaching mindfulness based movement
    practices with a trauma informed lens and integrating
    them with cultural knowledge.

    Laura Thum from Inglewood

    Collaboration for
    Evidence, Research, and Impact in Public Health, Curtin

    Project aims to support Western Australian health
    promotion organisations to increase meaningful
    participation in peer-based health promotion by
    underserved populations, specifically young people,
    LGBTIQA+ people and people from culturally and
    linguistically diverse backgrounds, by establishing and
    piloting a capacity-building Community of Practice
    (CoP), PEER+.

    Isabelle Falantin from Broome

    Regional recipient

    Broome Regional
    Aboriginal Medical
    Service

    Project aims to create a preventative health program
    targeted at primary schools that encourages children to
    engage with a range of healthy behaviours.

    Samantha Elliott from Carine

    National Nutrition
    Foundation

    Project aims to create health promotion and nutrition
    education messages specifically tailored for adolescents aged 12-17.

    Kirsty Mullane from Sorrento

    North Metropolitan
    Health Service

    Project aims to facilitate local solutions to food
    insecurity for Aboriginal and Torres Strait Islander
    people livingin the north metropolitan catchment of
    Perth.

    MIL OSI News –

  • MIL-OSI New Zealand: Ban on engineered stone essential to protect workers

    Source: Green Party

    The Green Party has renewed its call for the Government to ban the use, supply, and manufacture of engineered stone products, as the CTU launches a petition for the implementation of a full ban.

    “Let’s put people before profits and protect our workers by banning this dangerous product,” says the Green Party’s spokesperson for Workplace Relations and Safety, Teanau Tuiono.

    “Workers are the backbone of our economy, and their safety must be protected from dangerous practices including the use of engineered stone, the dust from which can lead to fatal lung disease.

    “Australia banned this product following extensive consultation and analysis, revealing incontrovertible scientific evidence of the dangers posed by silica dust exposure to workers. What’s stopping our country emulating this ban?

    “Instead of looking for excuses to reduce workplace protections and safeguards, the Government must prioritise workers’ rights that have been fought for over generations

    “Aotearoa has serious mahi to do regarding workplace safety, as far more people are injured or killed on the job here than in countries like the UK or Australia.

    “Banning engineered stone is a good place to start,” says Teanau Tuiono.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Engineering train fault probed

    Source: Hong Kong Information Services

    The Electrical & Mechanical Services Department is looking into a fault on an engineering train that caused disruption to services on the MTR’s East Rail Line yesterday.

    The train, used for inspecting overhead cables, malfunctioned near Fo Tan Station yesterday morning. Train services on the East Rail Line remained operational, but travel times were extended by 10 to 15 minutes.

    Upon receiving notification from the MTR Corporation (MTRC), the department immediately sent staff to the site to assess the situation and launch an investigation.

    Preliminary findings indicate that the incident was caused by a fault on the engineering train that prevented a lifting platform from descending. As the platform was close to the overhead cables, precautionary measures were taken before the train could be moved away.

    The department said it is now conducting an investigation into the engineering train’s design, maintenance and operational procedures. It has also requested that the MTRC conduct a comprehensive review of the incident, submit a report to explain its cause, and make proposals for improvement measures to prevent recurrence.

    A similar engineering train broke down near Tai Wo Station on the East Rail Line, also causing service disruptions, on February 5.

    Expressing grave concern over the occurrence of two such incidents affecting services within three months, the department said it will initiate a special audit to holistically review the MTRC’s emergency preparedness in relation to engineering trains.

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Asia and the Pacific Needs Grid Upgrade to Drive Energy Transition, says ADB Report

    Source: Asia Development Bank

    Inadequate investment in power grids is holding back developing countries in Asia and the Pacific from embracing the full benefits of an energy transition, including enhanced energy security, the creation of millions of green jobs and the expansion of electricity access.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: expert reaction to study looking at ultra-processed food consumption and premature deaths

    Source: United Kingdom – Executive Government & Departments

    A study published in the American Journal of Preventive Medicine looks at ultra-processed foods (UPFs) and premature mortality. 

    Prof Nita Forouhi, Professor of Population Health and Nutrition, MRC Epidemiology Unit, University of Cambridge, said:

    “There are limitations to this paper, including the points the authors themselves raised.  Nonetheless, evidence on the ‘health harms of UPF’ are accumulating and this paper does add to that body of evidence, and UPFs are unlikely to be healthful.

    “We already know that correlation does not necessarily mean causation.  But well conducted observational studies with long term prospective cohort data are often the best we are going to get realistically; we will not get randomised controlled trials (RCTs) of behaviours awaiting death or chronic disease events, and RCTs have their own biases and limitations, particularly for behavioural factors (different to taking medication vs placebo studies).  So we should not ignore such findings, especially as the current research has reported consistently similar associations in several countries which increases the degree of confidence.

    “In addition to the 8 countries they included for their population attributable fraction (PAF) estimates (Australia, Brazil, Canada, Chile, Colombia, Mexico, UK, USA), it would have been useful if they had also included the countries that provided the results on associations of UPFs with mortality but were not included (e.g. France, Italy, Spain).”

    Prof Kevin McConway, Emeritus Professor of Applied Statistics, Open University, said:

    “I’d be pretty cautious about the details and specific numerical estimates in this paper, for reasons I’ll explain.  Also, some of the terminology in the paper and the press release appears, in my opinion, much more definite about what’s causing what than the evidence in the paper merits.  That’s partly because some of the technical wording, even though it’s standard in this kind of research, doesn’t mean quite the same as it means in ordinary English.

    “The problems of interpretation arise because the studies involved are observational, but they go further than that.  The researchers have to make mathematical assumptions about exactly how UPF consumption is correlated with mortality risk, and even though they base these assumptions on data, there is at least one issue (described later).  And in calculating what’s known as the attributable epidemiological burden, or population attributable fraction, of UPF consumptions, the researchers may appear to be making a simple comparison, but in fact it’s a lot more complicated than you might think.

    “The data that the paper draws on for its conclusions, about consumption of UPFs and mortality, is all observational.  The researchers are not reporting any new data here – they are taking data from previous studies, and population estimates for the countries concerned, and putting it all together.  Nothing at all wrong with that – in fact in general it’s a good idea to review studies of the same things from different times and places, to see what overall picture emerges.

    “The seven studies that the authors of this paper used, to find an overall pooled estimate of the association between UPF consumption and all-cause mortality, are all themselves observational.  Again there’s nothing wrong with that – it’s pretty difficult, indeed impossible in most cases, to do a study linking diet to long-term health outcomes that is not observational.  Such a study would have to allocate different individuals to different diets, and somehow ensure that they stuck to these diets for many years.  So instead, researchers record what people eat, and then follow them up for a long time and record if and when they die.

    “This all means that it’s impossible, for any one study like that, to be sure whether differences in mortality between people who consume different UPF amounts are actually caused by differences in their UPF consumption.  There are bound to be many other differences between groups who consume different UPF amounts, in terms of other details of their diet, their lifestyle, their economic position, their sex and age, and so on.  These differences might be, in part or in whole, the reason for the differences in the risk of early death.  In other words, each individual study can find a correlation, an association, but can’t say for sure whether the association between UPF consumption and mortality is one of cause and effect.  It might be, or it might not.

    “The researchers in each of the studies reviewed in this new paper obviously are aware of this, and they all made statistical adjustments to allow for differences in other factors (though in different ways in different studies).  But that doesn’t make the problem disappear – you still can’t be sure from any study of this kind exactly what’s causing what.

    “The fact that the new paper puts together data from seven different observational studies does again help somewhat with the issue of what’s causing what, but it can’t deal with it entirely.  There have been many criticisms of interpretation of observational studies involving UPFs and health outcomes, some of them on the basis that UPFs are defined in rather different ways by different writers, or on the grounds that the mechanisms by which UPFs might actually cause ill health haven’t been established clearly enough.

    “I’m certainly not saying that there is no association between UPF consumption and ill health – just that it’s still far from clear whether consumption of just any UPF at all is bad for health, or of what aspect of UPFs might be involved.

    “Then there are particular aspects of this new study that make the interpretation more complicated than it would be for other observational studies of UPFs and health.

    “The authors begin by estimating the nature of the association between the consumption of UPFs and the risk of premature death.  That is, they aren’t just trying to see whether high levels of UPF consumption are correlated with higher mortality.  They want to know something more precise – exactly how much does the risk of dying increase, for every additional 10 per cent of a person’s calorie intake that comes from UPFs.  (Again, no assumption here that the increase in risk is all caused by UPFs.)  That sounds fine, but it involves assuming a particular mathematical form for the association (in the light of the data).

    “After that, the authors use the estimate of that association between UPF consumption and risk of early death to calculate estimates of the population fraction of premature deaths (ages 30-69) attributable to UPF consumption, for 8 different countries including the UK.  They use that to calculate estimates of the number of additional deaths in each of the 8 countries attributable to UPF consumption, and some of those numbers look pretty large.

    “This is done by taking data on the number of people in different groups (defined by age and sex) in each country.  This is then used to calculate how many would be expected to die at current levels of UPF consumption (using data from the estimate of the association between UPF consumption and premature death in all the studies that were put together in the first part of the work, so not just for the UK for example).  Finally this is compared with the number that would be expected to die in a theoretical population where nobody consumes (or ever consumed) UPFs.  No such population exists, not in a whole country, so this calculation has to be based on a statistical model.  Then the deaths attributable to UPF consumption is the difference between these two expected numbers of deaths.

    “What this sounds like, for the UK in 2018-19 for example, is that there would have been almost 18,000 fewer deaths of people aged between 30 and 69, if nobody in the country had consumed any UPFs (ever). However, that’s very far from the whole story, for a lot of reasons.

    “First, it doesn’t mean that, because the studies involved are observational, and as the authors of the new paper rightly point out, there could be factors that could not be adjusted for in the original studies, that are involved in causes of early death.  That’s why it’s called a population attributable fraction, rather than something even more definite, like population fraction caused by UPFs.  Technically, it can’t mean that we know we could save those lives just by changing UPF consumption.

    “But it’s deeper than that.  There isn’t a whole population in the UK or in the other seven countries in the study, where nobody ever consumed any UPFs.  So the comparison is being made between an estimate for current UPF consumption levels and an estimate for a theoretical population that can’t exist.  Even if somehow all UPFs were banned today, it would take many decades before there was a population where nobody had ever consumed UPFs.

    “And even if somehow we did get to that position, well, people have to eat something, and if they aren’t getting their calories from UPFs, they would need to get them from something else.  They might well not get them all in the same way that people who consume very few UPFs do today.  We just can’t tell.

    “So it’s not the case that we could save 18,000 premature deaths annually in the UK by taking action to reduce UPF consumption.  This doesn’t mean that taking such actions wouldn’t reduce early deaths – just that we can’t tell how much the reduction might be, or when it would occur, or how much longer the individuals concerned might have lived – not from the calculations in this paper.

    “I have some other concerns.

    “Several of the authors of the new paper collaborated on a previous paper, published in 2023 (reference 17 in the new paper, which is the reference given for the model used in the new paper for estimates of attributable deaths).  The 2023 paper uses similar methodology to make an estimate of the premature deaths attributable to UPFs in Brazil in 2019.  This uses similar data on the association between UPF consumption and premature mortality, from a systematic review and meta-analysis, to what’s used in the new paper, except that there are three additional studies reviewed in the new paper.  The estimate is only for Brazil, and is 57,000 deaths in a year.  The estimate for Brazil in the new paper is just over 25,000 deaths in a year.

    “The big difference between the 2023 and the 2025 estimates for Brazil seems to be very largely because of a different assumption made in the two papers about the mathematical form of the association between UPF consumption and death risk.  (In the jargon, they use a log-linear model in the 2023 paper but a linear model in the 2025 paper.)  The new estimate is based on more data from more countries – but the big difference does emphasise the importance of mathematical modelling assumptions.  Data can throw light on what assumptions are appropriate, but don’t tie things down very firmly at all in a situation like this.

    “Finally, the systematic review and meta-analysis in the new paper is missing some of the technical details that one normally sees in this kind of work.  The paper is very unclear on how the researchers chose the studies they included in their review, which after all drives all the estimates of attributable deaths.  The authors write that studies were selected ‘on the basis of recently published systematic reviews’.  That’s not normally the way it’s done, and in any case three of the included studies were not mentioned in the systematic reviews that are referred to in the new paper.  I don’t know where the researchers got them.  They may well be perfectly respectable studies – I haven’t had time to look at them – but really the authors of the new paper should have been much clearer about what they were doing, if we are to be confident about their conclusions.  Also it’s usual in a systematic review to give some assessment of the quality of the research studies that were included, and that just isn’t done here.  None of this increases trust in how the work was done.”

    Dr Nerys Astbury, Associate Professor – Diet & Obesity, Nuffield Department of Primary Health Care Sciences, University of Oxford, said:

    “Here Nilson and colleagues report findings from a study reporting associations between consumption of Ultra Processed Foods (UPF), defined by the NOVA classification system, and premature mortality.

    “This study combines evidence on dietary intake of UPF from Columbia, Brazil, Australia, Canda, United Kingdom and USA and reports that for each 10% increase in proportion of UPF in the diet there was a 3% increase in all-cause mortality.  The authors then used a mathematical formula to estimate the population attributable fraction, which is an estimate of the number of deaths which could be prevented if the exposure (consumption of UPF) was eliminated.  It is important to note this does not mean that these deaths were caused by UPF consumption.  The methods of this study simply cannot determine this.

    “It’s been established for some time including in the Global Burden of Disease Consortium that consuming diets higher in energy, fat and sugar can have detrimental effects on health, including premature mortality.  This study adds to the body of evidence on the association between UPF and ill health and disease.  However, many UPF tend to be high in these nutrients, and studies to date have been unable to determine with certainty whether the effects of UPF are independent of the already established effects of diets high in foods which are energy dense and contain large amounts of fat and sugar.

    “The authors of the study conclude that advice to reduce UPF consumption should be included in national dietary guideline recommendations and in public policies.  However, rushing to add recommendations on UPF to these recommendations is not warranted based on this study in my opinion.  Many national dietary guidelines and recommendations already advise the reduction of consumption of energy dense high-fat high-sugar foods, which typically fall into the UPF group.  Adding additional recommendations based on UPF could cause consumer confusion – some foods may be considered unhealthy by nutrient standards, but not so by NOVA classification (and vice versa).

    “This study and other similar studies that have explored the association between UPF and diet related disease, have used the NOVA classification system invented by Dr Carlos Monteiro (an author on this paper).  In my view the NOVA system which defines foods according to different levels of food processing has many limitations, including arbitrary definitions and overly broad food categories, the over-emphasis of food ingredients opposed to the processing per se and the difficult practical application of the system in accurately classifying foods.  This is especially notable when attempting to classify foods from dietary data collected in large cohort studies, as in this study.

    “More research is needed to ascertain a causal link between UPF and disease and to establish the mechanisms involved.”

    Dr Stephen Burgess, statistician in the MRC Biostatistics Unit, University of Cambridge, said:

    “This study assesses observational associations rather than interventions, and so it is not able to make reliable causal claims.  That is to say, it shows that individuals who consume higher levels of ultraprocessed foods have greater risk of premature mortality, rather than showing that increasing your consumption of ultraprocessed foods would increase your mortality risk.  However, the similarity of findings across populations is notable, as consistent associations were seen in a variety of contexts, including those where high consumption of ultraprocessed foods is a sign of relative wealth and those where it is a sign of relative deprivation.  This type of research cannot prove that consumption of ultraprocessed foods is harmful, but it does provide evidence linking consumption with poorer health outcomes.  It is possible that the true causal risk factor is not ultraprocessed foods, but a related risk factor such as better physical fitness – and ultraprocessed foods is simply an innocent bystander.  But, when we see these associations replicated across many countries and cultures, it raises suspicion that ultraprocessed foods may be more than a bystander.”

    ‘Premature Mortality Attributable to Ultraprocessed Food Consumption in 8 Countries’ by Eduardo A.F. Nilson et al. was published in the American Journal of Preventive Medicine at 05:05 UK time on Monday 28 April 2025. 

    DOI: 10.1016/j.amepre.2025.02.018

    Declared interests

    Prof Nita Forouhi: “No conflicts of interest to declare.”

    Prof Kevin McConway: “Previously a Trustee of the SMC and a member of its Advisory Committee.”

    Dr Nerys Astbury: “No conflicts.”

    Dr Stephen Burgess: “No relevant conflict of interest to declare.”

    MIL OSI United Kingdom –