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Category: Asia

  • MIL-OSI Asia-Pac: Govt to resume land for rail link

    Source: Hong Kong Information Services

    The Lands Department today posted land resumption notices for private lots required for the construction of the Northern Link (NOL) Main Line, in accordance with the Railways Ordinance.

    The land will revert to the Government on November 1.

    The NOL Main Line project is a 10.7-kilometre underground railway connecting Kam Sheung Road Station, on the Tuen Ma Line, and Kwu Tung Station, a stop on the East Rail Line that is under construction. There will be three intermediate stations at Au Tau, Ngau Tam Mei and San Tin.

    In all, 686 private lots, comprising about 26 hectares, and an underground batch of 252 private lots, comprising about 8.6 hectares, will be resumed. The Government will release ex-gratia land compensation to relevant land owners and handle statutory claims for compensation after the land reversion.

    The Lands Department will post notices in relevant areas according to applicable procedures about three months before departure deadlines for affected households and business undertakings.

    It is estimated the affected households and business undertakings will have to move out from early 2026 at the earliest. The Government will liaise with land owners and affected parties, and handle all compensation and rehousing matters proficiently. 

    MIL OSI Asia Pacific News –

  • At least 60 dead in north China following extreme rain, authorities say

    Source: Government of India

    Source: Government of India (4)

    Extreme weather killed at least 60 people in northern China over the past week, with 31 deaths in an elderly care home in Beijing’s hilly Miyun district in one of the deadliest floods to have hit the Chinese capital in years.

    In Beijing, 44 people were killed and nine were missing as of midday Thursday, deputy mayor of Beijing, Xia Linmao, said at a press conference.

    Heavy rains began a week ago and peaked around Beijing and surrounding provinces on Monday, with Miyun experiencing rainfall of up to 573.5 mm (22.6 inches) – levels local media described as “extremely destructive.” The average annual rainfall in Beijing is around 600 mm.

    In the nearby province of Hebei, 16 people died as a result of the intense rainfall, authorities said.

    At least eight were killed in the city of Chengde just outside Beijing, with 18 unaccounted for.

    The deaths occurred in villages within the Xinglong area of Chengde in Hebei province, state-run Xinhua reported late on Wednesday citing local authorities, without specifying when or how the people died.

    The deaths in Chengde occurred in villages which border Beijing’s Miyun about 25 km (16 miles) from the Miyun reservoir, the largest in China’s north.

    The reservoir saw record-breaking overall water levels and capacity during the rains which devastated nearby towns.

    At its peak on Sunday, up to 6,550 cubic metres of water – about 2.5 Olympic-sized pools’ worth – flooded into the reservoir every second.

    In another Hebei village north of the reservoir, a landslide on Monday killed eight people, with four missing.

    Extreme rainfall and severe flooding, which meteorologists link to climate change, pose major challenges for Chinese policymakers, with officials partially attributing a slowdown in factory activity to such events.

    (Reuters)

  • Flood threat in Rajasthan’s Dholpur as Chambal river swells; Army called in, Officials’ leave cancelled

    Source: Government of India

    Source: Government of India (4)

    A flood threat looms over rural areas in Rajasthan’s Dholpur district after heavy rainfall in the Hadoti region and nearby areas led to the release of nearly 5 lakh cusecs of water into the Chambal River – from both Kota Barrage and later the Navnera Barrage.

    The Chambal’s water level surged to 141.10 metres by 10 PM on Wednesday, significantly breaching the danger mark of 131.79 metres, according to the Water Resources Department. The old Chambal bridge has submerged due to the rising water, prompting the district administration to request Army assistance. Troops are expected to reach Dholpur today.

    Floodwaters have begun entering villages in the Sarmathura and Rajakheda subdivisions, sharply increasing the risk to life and property. In response, the leave of all government officers and employees has been cancelled to ensure coordinated relief efforts.

    Despite the flooding of the old bridge, traffic on National Highway 44 remains unaffected, as vehicles are being rerouted via the new Chambal bridge.

    Dholpur SP Vikas Sangwan and District Collector Nidhi B.T. are closely monitoring the situation and conducting visits to the affected areas. Army personnel will assist in relief and rescue operations, particularly in flood-prone zones like Rajakheda.

    Meanwhile, Director of the Meteorological Center, Jaipur, Radheshyam Sharma, said that the low-pressure system, a remnant of the Bay of Bengal depression, is expected to weaken from August 2. However, due to the monsoon trough line currently passing through Bikaner and Sikar, heavy rainfall is still likely in parts of Rajasthan on Thursday. A reduction in rainfall activity is anticipated from August 1.

    Earlier on Wednesday, Chief Minister Bhajan Lal Sharma conducted a detailed inspection of rain-affected areas in Jaipur, spending over two-and-a-half hours reviewing the situation.

    He visited B-2 Bypass Road, Sanganer, Sumer Nagar, Surajmal Circle, Muhana Mandi, and Chauradia Petrol Pump, issuing immediate instructions to address waterlogging, damaged roads, potholes, and drainage issues.

    The Chief Minister also inspected the Dravyavati River near B-2 Bypass Road and directed officials to prune overgrown trees and repair damaged ferro drain covers.

    At the Sanganer camp office, he reviewed the status of waterlogged areas across the city. Later, at the Muhana Mandi intersection, he gave instructions for the construction of a traffic circle and urgent road repairs at Maharaja Surajmal Circle and Kesar Nagar intersection.

    (With inputs from IANS)

  • MIL-OSI Russia: Urumqi Airport Records Significant Growth in Passenger and Cargo Traffic in First Half of 2025

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — The number of people crossing the Chinese border at the Tianshan International Airport checkpoint in Urumqi, capital of northwest China’s Xinjiang Uygur Autonomous Region, totaled 449,900 in the first half of 2025, up 63.58 percent year-on-year, the Xinjiang Daily newspaper reported, citing data from the airport administration.

    In addition, during the same period, 43 thousand tons of cargo were imported and exported through Tianshan Airport, which is 465 percent more than during the same period last year.

    In the first six months of this year, the checkpoint handled 3,575 inbound and outbound passenger flights, up 51 percent from a year earlier. The airport currently operates 32 international passenger routes, connecting Urumqi with 27 cities in 19 countries.

    From January to June this year, airport customs officers processed 2,549 incoming and outgoing cargo flights, up 620 percent year-on-year. The total value of imported and exported goods passed through the airport checkpoint increased by 221.4 percent year-on-year.

    Today, 24 international cargo routes operate at the specified border crossing, covering key hub cities in Europe, as well as Central and Western Asia.

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

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    MIL OSI Russia News –

  • MIL-OSI Russia: Chinese border town becomes key hub for importing Russian Kamchatka crabs

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 31 (Xinhua) — Did you know that out of five Russian Kamchatka crabs eaten by Chinese, four came from the border town of Hunchun, (Yanbian Korean Autonomous Prefecture, Northeast China’s Jilin Province), which is not actually a coastal town?

    At the King Crab Exhibition Hall located in the Northeast Asia Cross-Border E-Commerce Industrial Park in Hunchun, hundreds of blue and red king crabs from the Bering Strait live comfortably in a huge pool.

    The cool air in the exhibition hall mixes with the faint salty taste of sea water. It turns out that the pool is filled with sea water from the “native land” of king crabs, and its temperature is maintained at about 2 degrees Celsius.

    “The king crabs, which cost more than 320 yuan (US$44.5) per kilogram, were transported to China using original transport and water environment to ensure their longer life,” said Cui Ling, an employee of Hunchun Shengjin International Trade Co., Ltd., adding that July to August is the busiest time of the year. On average, up to 150 king crabs are sold per day through online and offline sales. These king crabs are shipped from here and delivered across the country within two weeks. In many regions, customers who order this seafood delicacy in the morning receive it the next day.

    Why hasn’t the coastal city of Hunchun become the key hub for importing Russian Kamchatka crabs?

    Previously, Kamchatka crabs imported from Russia to China had to be transported through the Republic of Korea and Japan, which led to higher costs and a deterioration in the quality of king crabs.

    After Hunchun Port was approved as a specialized port for importing chilled seafood and edible aquatic animals, this “golden corridor” for importing king crabs into China was opened. In addition, the Kamchatka-Zarubino-Hunchun route made the transportation of aquatic products between China and Russia more stable and smooth.

    To ensure the freshness of imported seafood, Hunchun Customs has opened a “green channel” to provide inspection and release services by appointment all year round and around the clock, speeding up customs clearance.

    “In 2024, about 1.5 million pieces of king crab worth 3.31 billion yuan were imported into China through Hunchun Port, accounting for more than 80 percent of the country’s total market,” said Sun Jufeng, head of the Hunchun Port Management Service Center.

    According to him, in recent years the efficiency of customs clearance has been constantly improving. If the driver registers in advance, the passage through the checkpoint can be completed in a matter of minutes.

    Let us recall that last year, construction of a new terminal began in Hunchun on the territory of the checkpoint in order to meet the increasing volumes of cargo flow between China and Russia. The new terminal with a design capacity of 2 million tons will be put into operation during this year, and then the volume of transportation through the Hunchun checkpoint will increase more than fourfold.

    In recent years, Chinese consumers’ interest in Russian Kamchatka crabs has grown rapidly. According to the General Administration of Customs of China, the total value of China’s imports of live, fresh and frozen crabs from Russia exceeded US$1.14 billion last year, up 16.7 percent from the previous year. -0-

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

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    MIL OSI Russia News –

  • MIL-OSI Russia: The number of visitors to the Chinese pavilion at Expo 2025 in Osaka has exceeded 1 million people.

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    TOKYO, July 31 (Xinhua) — A welcoming ceremony for the one millionth visitor, a Japanese family, was held at the China Pavilion at the World Expo 2025 Osaka on Wednesday.

    Upon entering the pavilion, Teruwa Asakawa and his family were greeted by the words “Welcome to the millionth visitor to the China Pavilion” displayed on a large screen. The family was presented with a panda doll and other souvenirs.

    The Asakawas said they were honored to be the millionth visitor. They praised the beautiful appearance of the pavilion and the variety of exhibits, saying that it “allowed us to deeply feel China’s rich historical and cultural heritage.”

    Zhang Shujing, director of the China Pavilion, told Xinhua that since the opening of Expo 2025, the China Pavilion has consistently been one of the most popular. Welcoming the millionth visitor is an important moment worth celebrating, he said.

    The exhibition runs from April 13 to October 13. The Chinese pavilion occupies an area of about 3.5 thousand square meters and is one of the largest foreign pavilions built by China itself. –0–

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

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    MIL OSI Russia News –

  • Tata Motors announces euro 3.8 billion acquisition of Iveco Group

    Source: Government of India

    Source: Government of India (4)

    Tata Motors Limited has announced plans to acquire Iveco Group N.V., a leading European commercial vehicle and mobility company, through an all-cash voluntary tender offer valued at approximately €3.8 billion.

    The proposed acquisition is subject to regulatory approvals and the successful separation of Iveco’s defence business. The deal aims to create a powerful global player in the commercial vehicle industry, combining complementary capabilities, a broader market presence, and a shared commitment to sustainable mobility.

    Under the terms of the deal, Tata Motors will acquire all issued common shares of Iveco Group—excluding its defence division—at €14.1 per share in cash. Completion of the transaction is conditional upon the separation of the defence business, which is expected to be finalised by March 31, 2026.

    The offer represents a 22–25% premium over Iveco’s average share price in the three months ending July 17, 2025. Factoring in the estimated €5.5–€6.0 per share extraordinary dividend from the defence division’s sale, the premium could increase to 34–41%.

    The merger will combine Tata Motors’ commercial vehicle division with Iveco’s operations, bringing together annual sales of approximately 540,000 units and revenues of €22 billion (INR 2.2 lakh crore). The combined revenue base will be spread across Europe (50%), India (35%), and the Americas (15%).

    “This is a logical next step following the demerger of Tata Motors’ Commercial Vehicle business,” said Tata Motors Chairman Natarajan Chandrasekaran. “It will allow the combined group to compete globally with two strategic home markets in India and Europe.”

    Olof Persson, CEO of Iveco Group, said the partnership with Tata Motors would strengthen industrial capabilities, accelerate innovation in zero-emission transport, and expand the company’s presence in key global markets.

    Tata Motors has secured full financing for the acquisition through a consortium led by Morgan Stanley and MUFG Bank. Clifford Chance, PwC, and Kearney are advising Tata Motors, while Goldman Sachs and law firms De Brauw and PedersoliGattai are advising Iveco Group.

    — ANI

  • Centre constructs 16,207 km of highways, sanctions ₹69,342 crore for railway projects in Northeast

    Source: Government of India

    Source: Government of India (4)

    The Central Government has constructed 16,207 km of National Highways and sanctioned ₹69,342 crore for railway projects to bolster infrastructure and accelerate economic development in the Northeastern Region (NER), the Parliament was informed on Thursday.

    Minister of State for Development of North Eastern Region Sukanta Majumdar told the Rajya Sabha that the Ministry of Railways has approved 12 railway projects – including 8 new lines and 4 doubling projects – spanning a total length of 777 km, either partially or fully within the NER. Of this, 278 km have already been commissioned, and ₹41,676 crore has been expended up to March 2025.

    Under the Pradhan Mantri Gram Sadak Yojana (PMGSY), the government has sanctioned 17,637 road works covering 89,436 km and 2,398 bridges in the Northeast. Out of these, 16,469 road works (80,933 km) and 2,108 bridges have been completed, the Minister added.

    To enhance digital connectivity in remote and rural areas of the Northeast, several initiatives have been undertaken with support from the Digital Bharat Nidhi. As many as 6,355 Gram Panchayats have been made service-ready under the BharatNet project. In addition, 3,297 mobile towers have been commissioned in the region under various government-funded mobile connectivity schemes.

    The Ministry of Civil Aviation, through the UDAN (Ude Desh ka Aam Nagrik) scheme, has significantly improved regional air connectivity by operationalising 90 routes in the Northeast. These routes connect 12 airports and heliports across the region, aiming to make air travel more accessible and affordable for the masses.

    Further, the Ministry of Development of North Eastern Region (MDoNER) is providing financial assistance to all eight Northeastern states for developmental projects related to infrastructure, connectivity, and communication, under five Central Sector Schemes.

    A key initiative in this regard is the Prime Minister’s Development Initiative for North East Region (PM-DevINE). This 100% centrally funded scheme, launched with a total outlay of ₹6,600 crore, is scheduled to run from 2022–23 to 2025–26. The scheme focuses on funding infrastructure projects in line with PM GatiShakti, supporting social development, and promoting livelihood opportunities for youth and women, while addressing developmental gaps in critical sectors.

    The DoNER Ministry is also providing financial support to boost tourism development across the eight Northeastern states through its various Central Sector Schemes.

    (With inputs from IANS)

  • MIL-OSI Asia-Pac: Monetary Statistics for June 2025

    Source: Hong Kong Government special administrative region – 4

    The following is issued on behalf of the Hong Kong Monetary Authority:

    According to statistics published today (July 31) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.9 per cent in June 2025. Among the total, Hong Kong dollar deposits decreased by 0.9 per cent while foreign currency deposits increased by 2.4 per cent in June, mainly reflecting fund flows of corporates. For the first half of 2025 as a whole, total deposits and Hong Kong dollar deposits increased by 7.6 per cent and 7.0 per cent respectively. Renminbi deposits in Hong Kong decreased by 9.6 per cent in June to RMB882.1 billion at the end of June, mainly reflecting fund flows of corporates. The total remittance of renminbi for cross-border trade settlement amounted to RMB1,223.5 billion in June, compared with RMB1,123.6 billion in May. It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.
     
    Total loans and advances increased by 1.1 per cent in June, and increased by 2.5 per cent in the first half of 2025. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 0.9 per cent and 1.8 per cent respectively in June. The Hong Kong dollar loan-to-deposit ratio increased to 72.0 per cent at the end of June from 70.5 per cent at the end of May, as Hong Kong dollar deposits decreased while Hong Kong dollar loans increased.
     
    For the second quarter of 2025 as a whole, loans for use in Hong Kong (including trade finance) increased by 1.6 per cent after increasing by 0.5 per cent in the previous quarter. Analysed by economic use, the increase in loans during the second quarter was mainly led by loans to financial concerns and loans to electricity and gas.
     
    Hong Kong dollar M2 and M3 both decreased by 0.8 per cent in June, while both increased by 8.4 per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 increased by 4.4 per cent in June and increased by 23.7 per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 0.8 per cent in June. Compared to a year earlier, total M2 and total M3 both increased by 11.5 per cent.  
     
    As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Hong Kong Customs detects case involving precious metals and stones dealer carrying out specified cash transaction without Category B registration

    Source: Hong Kong Government special administrative region – 4

    Hong Kong Customs yesterday (July 30) detected a case involving a local watch company that conducted a cash transaction valued at over HK$120,000, while not being a Category B registrant under the Dealers in Precious Metals and Stones Regulatory Regime. A director of the company was arrested.
     
    The investigation is ongoing. The arrested person has been released on bail.
     
    According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), the Regime came into effect on April 1, 2023. Any person who is seeking to carry on a business of dealing in precious metals and stones in Hong Kong and engage in any transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 in Hong Kong is required to register with the Commissioner of Customs and Excise.
     
    In particular, no person other than a Category B registrant may carry out a cash transaction with a total value at or above HK$120,000 in the course of business of dealing in precious metals and stones. Any dealer who is not a Category B registrant, who claims to be a Category B registrant, claims to be authorised to carry out, or carries out any cash transaction(s) with a total value at or above HK$120,000, commits an offence and is liable on conviction to a maximum fine of HK$100,000 and imprisonment for six months.
     
    Customs reminds dealers in precious metals and stones that they must obtain the relevant registration before they can carry out any cash or non-cash transaction(s) with a total value at or above HK$120,000.
     
    For the forms, procedures and guidelines to submit applications for registration, please visit the website for the Dealers in Precious Metals and Stones Registration System (www.drs.customs.gov.hk) or Customs’ webpage (www.customs.gov.hk/en/service-enforcement-information/anti-money-laundering/supervision-of-dealers-in-precious-metals-and-ston/index.html).
     
    Members of the public may report any suspected transactions involving precious metals and stones with a total value at or above HK$120,000 conducted without the required registration to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Residential mortgage loans in negative equity: End of June 2025

    Source: Hong Kong Government special administrative region – 4

    The following is issued on behalf of the Hong Kong Monetary Authority:

    The Hong Kong Monetary Authority announced today (July 31) the results of its survey on residential mortgage loans (RMLs) in negative equity at end-June 2025.
      
    The estimated number of RMLs in negative equity was 37 806 cases at end-June 2025, as compared to 40 741 cases at end-March 2025. These cases were mainly related to bank staff housing loans or RMLs under mortgage insurance programme, which generally have a higher loan-to-value ratio.
     
    The aggregate value of RMLs in negative equity decreased to HK$190.2 billion at end-June 2025 compared with HK$205.9 billion at end-March 2025.
     
    The unsecured portion of these loans decreased to HK$14.3 billion at end-June 2025 from HK$16.4 billion at end-March 2025.
     
    The three-month delinquency ratio of RMLs in negative equity remained at a low level of 0.21 per cent at end-June 2025 as compared to 0.17 per cent at end-March 2025.
     
    It is important to note that the figures derived from this survey relate only to RMLs provided by authorized institutions on the basis of first mortgages and which the reporting institution knows to be in negative equity (i.e. the outstanding loan amount with the reporting institution exceeds the current market value of the mortgaged property). Not included in these figures are RMLs associated with co-financing schemes which would be in negative equity if the second mortgages were taken into account. The extent to which such RMLs are in negative equity is not known because authorized institutions do not maintain records on the outstanding balances of the second mortgages. 
     
    The mortgage portfolios of the surveyed authorized institutions represent about 99 per cent of the industry total. The survey results have been extrapolated to estimate the position of the banking sector as a whole. 

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Residential Mortgage Survey Results for June 2025

    Source: Hong Kong Government special administrative region – 4

    The following is issued on behalf of the Hong Kong Monetary Authority:
     
         The Hong Kong Monetary Authority announced the results of the residential mortgage survey for June 2025.
     
         The number of mortgage applications in June increased month-on-month by 4.8 per cent to 8 581.
     
         Mortgage loans approved in June increased by 3.3 per cent compared with May to HK$27.5 billion. Among these, mortgage loans financing primary market transactions increased by 4.2 per cent to HK$9.3 billion and those financing secondary market transactions increased by 2.4 per cent to HK$15 billion. Mortgage loans for refinancing increased by 5.2 per cent to HK$3.2 billion. 
     
         Mortgage loans drawn down during June increased by 8.9 per cent compared with May to HK$17.7 billion. 
     
         The ratio of new mortgage loans priced with reference to HIBOR increased from 93.4 per cent in May to 94.7 per cent in June. The ratio of new mortgage loans priced with reference to best lending rates decreased from 1.9 per cent in May to 1.7 per cent in June.
     
         The outstanding value of mortgage loans increased month-on-month by 0.1 per cent to HK$1,885.6 billion at end-June. 
     
         The mortgage delinquency ratio stood at a low level of 0.13 per cent and the rescheduled loan ratio was unchanged at nearly 0 per cent.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Hospital Authority streamlines clinical research approval to promote medical research development (with photo)

    Source: Hong Kong Government special administrative region – 4

    The following is issued on behalf of the Hospital Authority:

         The Hospital Authority (HA) held a sharing session today (July 31) with representatives from the Greater Bay Area International Clinical Trial Institute (GBAICTI) and Hong Kong’s pharmaceutical industry to outline a series of enhancement measures implemented by the HA for promoting clinical research development, including the recently implemented streamlined approval procedures aiming at attracting more clinical research projects from the industry.
     
         Last year, the HA established a Central Clinical Research and Innovation Office and Cluster Clinical Research Support Offices in each cluster to provide support for frontline healthcare professionals and proactively encourage participation in clinical research. In April this year, the HA further enhanced the application and approval procedures for commercially sponsored clinical research, including revising the long-standing standard clinical research agreement template to provide more up-to-date content and balance the interests of all parties. The HA has also engaged a professional organisation to assist in the review and approval of commercially sponsored clinical research applications, expediting the approval process and timeframe through the incorporation of industry expertise.
     
         The Director (Quality and Safety) of the HA, Dr Michael Wong, expressed confidence that the new measures will promote the clinical research development. “As a key player in local clinical research with professional medical teams and extensive healthcare data, the HA has been aligning with government policies and engaging in communication and exchange with various healthcare institutions and industry stakeholders. Through optimising processes and streamlining approval procedures, the HA aims to facilitate efficient implementation and execution of clinical research, fostering a more conducive environment for medical innovation and enhancing Hong Kong’s competitiveness in international clinical research.”
     
         About 100 participants in the sharing session included members and representatives from the GBAICTI and the Hong Kong Association of the Pharmaceutical Industry, who had in-depth exchanges on the development of clinical research in Hong Kong.
     
         The HA Central Institutional Review Board (Central IRB) completed the integration of all cluster Research Ethics Committees in March 2024 and has processed over 1 000 clinical research applications. The Central IRB serves as a co-ordinator and has been further streamlining the research ethics application and approval process and facilitating cross-cluster clinical research applications. Following process optimisation, simple clinical research applications can now be processed through an expedited review procedure, with approval times significantly reduced to within 30 days, while the ethics review for complex research applications can be completed within 60 days.
     
         The HA will continue to dovetail with government policy directions and the needs of the pharmaceutical industry, deepen collaboration with the GBAICTI, and fully support various clinical research applications, thereby promoting Hong Kong’s medical and scientific research, enhancing healthcare standards, and benefitting patients.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Government revises eligibility criteria for government-subsidised post-secondary student places and subsidies

    Source: Hong Kong Government special administrative region – 4

         The Government today (July 31) announced the revision of the eligibility criteria for government-subsidised post-secondary student places and subsidies: introducing two categories of tuition fees and revising the eligibility criteria. The revision will apply to the 2027/28 academic year and thereafter (the application cycle for the 2027/28 academic year commencing in October 2026). This will allow the affected persons reasonable time to make their own plans and the Joint University Programmes Admissions System (JUPAS) Office and the admissions offices of various institutions (including the University Grants Committee (UGC)-funded universities, the Hong Kong Academy for Performing Arts, and the Vocational Training Council) sufficient time to make corresponding administrative arrangements.
     
    A Government spokesperson said, “Under the current admissions arrangements, dependant visa/entry permit holders who were below 18 years old when first issued with such visa/entry permit by the Immigration Department (ImmD) are considered local students. There has been recent concern that some of these students did not come to reside in Hong Kong but applied for government-subsidised student places at UGC-funded universities as local students, which affected opportunities for university admission and the targeted use of public funds.
     
         “To clarify the eligibility criteria for government-subsidised post-secondary student places and subsidies, and to ensure the proper use of public funds, the Education Bureau, having regard to overseas practices and the practical situation in Hong Kong, considers it necessary for dependant children to reside in Hong Kong for two years before becoming eligible for government-subsidised post-secondary student places. Holders of a full-time employment visa/work permit or a visa/entry permit for various admission schemes will no longer be eligible for government-subsidised post-secondary student places.”
     
         Two categories of tuition fees are introduced under the revision. Category I refers to subsidised fees. Persons holding the following documents are eligible for government-subsidised student places in relation to sub-degree, undergraduate and taught postgraduate programmes:
     

    • A Hong Kong permanent identity card, other documents issued by the ImmD showing the right to land/right of abode in Hong Kong, and a visa label for unconditional stay;
    • A One-way Permit for entry to Hong Kong; and
    • A dependant visa/entry permit: holders who were below 18 years old when first issued with such visa/entry permit by the ImmD, provided that they have resided in Hong Kong for two years immediately preceding the first day of their respective programmes. Regarding first-year student places, to facilitate institutions’ admissions procedures, the two-year period will be specified appropriately by the JUPAS office or the institutions concerned having regard to the first day of the respective programmes. Whether the residency requirement is met is determined at or before the start of each academic year and shall remain the same for the remainder of that academic year. The first day of the academic year of a programme is determined by the programme’s start day. 

     
         Category II refers to non-subsidised fees and applies to persons not meeting the eligibility criteria in the above-mentioned Category I. These persons include:
     

    • Dependant visa/entry permit holders who were below 18 years old when first issued with such visa/entry permit by the ImmD, and they do not meet the two-year residency requirement;
    • Holders of a full-time employment visa/work permit;
    • Holders of a visa/entry permit for various admission schemes (including the Quality Migrant Admission Scheme, the Capital Investment Entrant Scheme or the Admission Scheme for the Second Generation of Chinese Hong Kong Permanent Residents); and
    • Non-local students (such as holders of a student visa/entry permit; holders of a visa/entry permit under the Immigration Arrangements for Non-local Graduates; dependant visa/entry permit holders who were 18 years old or above when first issued with such visa/entry permit by the ImmD).

     
         Category II persons may still apply for government-subsidised sub-degree, undergraduate and taught postgraduate programmes but have to pay non-subsidised fees. The institutions may determine appropriate non-subsidised fee levels, following the established principles, having regard to their own circumstances and programme costs, and taking a holistic view of various factors. The levels have to be at least sufficient to recover all additional direct costs, and to be on par with those applicable to non-local students.
     
         The Government will put in place a transitional arrangement for the above-mentioned revision, whereby the residency requirement for the 2027/28 academic year (its application cycle commencing in October 2026) will be set at one year. The two-year residency requirement will be implemented starting from the 2028/29 academic year.
     
    The spokesperson said, “When formulating the revision, the Government fully listened to various views in society and struck the right balance. The revision is not expected to have a significant impact on families with genuine intentions to come to Hong Kong for development.”
     
    Regarding the residency requirement for JUPAS applications for government-subsidised first-year-first-degree student places, applicants are required to provide the following proof:

    (a) proof from the applicant that he or she is enrolled as a full-time student in a school offering a formal curriculum in Hong Kong for the two-year period ending on May 31 in the year in which his or her respective programme begins; or
     
    (b) for those who cannot provide the proof in (a) above, a statement of travel records of the applicant which can be obtained at a fee from the ImmD covering the two-year period to demonstrate that the applicant is not absent from Hong Kong for a maximum of 90 days in each year of the two-year period.
       
         Regarding other government-subsidised post-secondary student places, including those in relation to sub-degree, senior year undergraduate and taught postgraduate programmes of UGC-funded universities, the relevant institutions are required to process the applications in an approach similar to the above-mentioned one.
     
         The eligibility criteria and related arrangements for government scholarship, fellowship or subsidy schemes which are currently premised on the definitions of “local students” and “non-local students” (such as the Hong Kong Future Talents Scholarship Scheme for Advanced Studies, the Tuition Waiver for Local Research Postgraduate Students, the Study Subsidy Scheme for Designated Professions/Sectors, and the Non-means-tested Subsidy Scheme for Self-financing Undergraduate Studies in Hong Kong) will also be correspondingly revised to ensure consistency. 

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: HD implements multipronged mosquito control measures against chikungunya fever (with photos)

    Source: Hong Kong Government special administrative region – 4

         In response to the recent surge in chikungunya fever cases reported in neighbouring regions, the Housing Department (HD) announced today (July 31) that the HD has stepped up mosquito prevention and control efforts through a multipronged approach in all public rental housing estates under the HD’s management, and appeals to residents to strengthen mosquito prevention and control measures.

         “To prevent mosquito-borne diseases effectively, all estate offices under the HD have strengthened anti-mosquito measures and prevention work jointly with different stakeholders and other government departments. They are strengthening inspections in public areas and flower beds; upon detection of mosquito breeding grounds, immediate actions will be taken, including conducting fogging operations to eliminate adult mosquitoes, removal of stagnant water and water-holding containers, application of larvicides (e.g. temephos sand granules), and installation of mosquito traps,” said an HD spokesman.

         “We have taken measures to keep drains free of blockage and level all defective ground surfaces to prevent water accumulation. We have also continuously enhanced public education and publicity through posters and leaflets to remind the public to adopt mosquito control measures. We also invited the Food and Environmental Hygiene Department to conduct educational talks to disseminate the latest information on chikungunya fever and mosquito prevention to the residents,” the spokesman added.

         Public participation is crucial in addition to the efforts of government departments. The HD urged residents to join hands to implement mosquito prevention and control measures at home and other places promptly. The measures include:
     

    • Keep the environment clean by disposing of rubbish properly. Refuse like empty cans and food containers where water can accumulate easily should be disposed of in covered litter containers;
    • Clean the saucers under potted plants weekly to prevent water accumulation;
    • Change the water in vases and scrub their internal surfaces every week;
    • Keep water storage containers, such as buckets and basins, tightly covered; and
    • Check air-conditioner drip trays to prevent any water accumulation.

         Please visit the Centre for Health Protection’s thematic webpage for more information on chikungunya fever: www.chp.gov.hk/en/features/109029.

    MIL OSI Asia Pacific News –

  • MIL-OSI: LexinFintech Holdings Ltd. to Report Second Quarter 2025 Unaudited Financial Results on August 7, 2025

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, July 31, 2025 (GLOBE NEWSWIRE) — LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading technology-empowered personal financial service enabler in China, today announced that it will report its unaudited financial results for the second quarter ended June 30, 2025, before the U.S. market opens on Thursday, August 7, 2025.

    The Company’s management will host an earnings conference call at 7:00 AM U.S. Eastern time on August 7, 2025 (7:00 PM Beijing/Hong Kong time on August 7, 2025).

    Participants who wish to join the conference call should register online at:
    https://s1.c-conf.com/diamondpass/10049362-fg8h6t.html

    Once registration is completed, each participant will receive the dial-in number and a unique access PIN for the conference call.

    Participants joining the conference call should dial in at least 10 minutes before the scheduled start time.

    A live and archived webcast of the conference call will also be available at the Company’s investor relations website at http://ir.lexin.com.

    About LexinFintech Holdings Ltd.

    We are a leading credit technology-empowered personal financial service enabler. Our mission is to use technology and risk management expertise to make financing more accessible for young generation consumers. We strive to achieve this mission by connecting consumers with financial institutions, where we facilitate through a unique model that includes online and offline channels, installment consumption platform, big data and AI driven credit risk management capabilities, as well as smart user and loan management systems. We also empower financial institutions by providing cutting-edge proprietary technology solutions to meet their needs of financial digital transformation.

    For more information, please visit http://ir.lexin.com.

    For investor and media inquiries, please contact: 

    LexinFintech Holdings Ltd.
    IR inquiries:
    Will Tan
    Tel: +86 (755) 3637-8888 ext. 6258
    E-mail: willtan@lexin.com

    Media inquiries:
    Ruifeng Xu
    Tel: +86 (755) 3637-8888 ext. 6993
    E-mail: media@lexin.com

    SOURCE LexinFintech Holdings Ltd.

    The MIL Network –

  • MIL-OSI: JD.com to Report Second Quarter and Interim 2025 Financial Results on August 14, 2025

    Source: GlobeNewswire (MIL-OSI)

    BEIJING, July 31, 2025 (GLOBE NEWSWIRE) — JD.com, Inc. (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service provider, today announced that it plans to release its unaudited financial results for the three months and six months ended June 30, 2025 on Thursday, August 14, 2025, before the U.S. market opens.

    JD.com’s management will hold a conference call at 8:00 am, Eastern Time on August 14, 2025, (8:00 pm, Beijing/Hong Kong Time on August 14, 2025) to discuss its financial results for the three months and six months ended June 30, 2025.

    Please register in advance of the conference using the link provided below and dial in 15 minutes prior to the call, using participant dial-in numbers, the Passcode and unique access PIN which would be provided upon registering. You will be automatically linked to the live call after completion of this process, unless required to provide the conference ID below due to regional restrictions.

    PRE-REGISTER LINK: https://s1.c-conf.com/diamondpass/10048710-8s8fg7.html

    CONFERENCE ID: 10048710

    A telephone replay will be available for one week until August 21, 2025. The dial-in details are as follows:

    US:
    International:
    Hong Kong:
    Mainland China:
    Passcode:    		 +1-855-883-1031
    +61-7-3107-6325
    800-930-639
    400-120-9216
    10048710
     

    Additionally, a live and archived webcast of the conference call will also be available on JD.com’s investor relations website at http://ir.jd.com.

    About JD.com, Inc.

    JD.com is a leading supply chain-based technology and service provider. The Company’s cutting-edge retail infrastructure seeks to enable consumers to buy whatever they want, whenever and wherever they want it. The Company has opened its technology and infrastructure to partners, brands and other sectors, as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries.

    For investor and media inquiries, please contact:

    Investor Relations
    Sean Zhang
    +86 (10) 8912-6804
    IR@JD.com

    Media Relations
    +86 (10) 8911-6155
    Press@JD.com

    The MIL Network –

  • MIL-OSI: Cenovus announces second-quarter 2025 results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, July 31, 2025 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its second-quarter 2025 financial and operating results. The company generated approximately $2.4 billion in cash from operating activities, $1.5 billion of adjusted funds flow and $355 million of free funds flow. Total upstream production was 765,900 barrels of oil equivalent per day (BOE/d)1, reflecting planned turnarounds at the Foster Creek and Sunrise oil sands assets, maintenance at offshore facilities and short-term production impacts from wildfire activity at Christina Lake. Downstream crude throughput was 665,800 barrels per day (bbls/d), representing an overall utilization rate of 92% and including the successful completion of a turnaround at the Toledo Refinery 11 days ahead of schedule.

    Highlights

    • Achieved first oil at Narrows Lake in July, with production expected to ramp up to peak incremental rates of 20,000 bbls/d – 30,000 bbls/d by the end of the year.
    • Delivered major milestones on the West White Rose project, with the concrete gravity structure (CGS) installed on the seabed in June and the topsides placed atop the CGS in mid-July. Hookup and commissioning work has commenced, with drilling expected to begin by year end.
    • Advanced the Foster Creek optimization project, with four new boilers brought online in July, which will add approximately 80,000 bbls/d of steam capacity to the facility.
    • Completed major turnarounds at Toledo, Sunrise and Foster Creek in the quarter, with exceptional execution, resulting in production at all assets resuming ahead of schedule.
    • Returned $819 million to shareholders, including $301 million through common share purchases, $368 million through common and preferred share dividends and $150 million through the redemption of Cenovus’s Series 7 preferred shares on June 30, 2025.

    “Operating performance this quarter was exceptional, with turnaround execution exceeding our targets, major project milestones achieved on time and on budget, and our staff safely and efficiently restoring Christina Lake production following disruption from a wildfire,” said Jon McKenzie, Cenovus President & Chief Executive Officer. “Through the hard work and determination of our people, we have arrived at an inflection point, nearing completion of numerous growth projects and successfully concluding significant maintenance events. As investment in these initiatives is completed, we expect to generate increasing free funds flow.”

    Financial summary

    ($ millions, except per share amounts) 2025 Q2 2025 Q1 2024 Q2
    Cash from (used in) operating activities 2,374 1,315 2,807
    Adjusted funds flow2 1,519 2,212 2,361
    Per share (diluted)2 0.84 1.21 1.26
    Capital investment 1,164 1,229 1,155
    Free funds flow2 355 983 1,206
    Excess free funds flow2 (306) 373 735
    Net earnings (loss) 851 859 1,000
    Per share (diluted) 0.45 0.47 0.53
    Long-term debt, including current portion 7,241 7,524 7,275
    Net debt 4,934 5,079 4,258


    Production and throughput

    (before royalties, net to Cenovus) 2025 Q2 2025 Q1 2024 Q2
    Oil and NGLs (bbls/d)1 624,000 670,900 656,300
    Conventional natural gas (MMcf/d) 851.4 887.9 867.2
    Total upstream production (BOE/d)1 765,900 818,900 800,800
    Total downstream crude throughput (bbls/d) 665,800 665,400 622,700

    1See Advisory for production by product type and by operating segment.
    2Non-GAAP financial measure or contains a non-GAAP financial measure. See Advisory.

    Second-quarter results

    Operating1

    Cenovus’s total revenues were $12.3 billion in the second quarter, down from $13.3 billion in the first quarter of 2025. Upstream revenues were $6.8 billion, a decrease from $8.3 billion in the previous quarter, while Downstream revenues were $7.7 billion, in line with the previous quarter.

    Total operating margin3 was $2.1 billion, compared with $2.8 billion in the previous quarter. Upstream operating margin4 was $2.1 billion, down from $3.0 billion in the first quarter due to lower benchmark oil prices, as well as lower production and sales volumes. The company had a Downstream operating margin4 shortfall of $71 million compared with a shortfall of $237 million in the previous quarter, benefiting from rising U.S. market crack spreads and a higher Canadian upgrading differential, as well as lower run-rate operating costs, excluding turnarounds, in both businesses. Operating margin in the U.S. Refining segment was a shortfall of $178 million, which included a $62 million inventory holding loss and $238 million of turnaround expenses.

    Total Upstream production was 765,900 BOE/d in the second quarter, a decrease from 818,900 BOE/d in the first quarter. Christina Lake production was 217,900 bbls/d compared with 237,800 bbls/d in the prior quarter, as a wildfire near the facility temporarily impacted production in the second quarter. The field was shut in on May 29 and operations were restarted safely on June 3, with a return to full production about one week later. Foster Creek production was 186,100 bbls/d compared with 202,700 bbls/d in the first quarter, reflecting planned maintenance during the quarter that was successfully completed with production returning earlier than forecasted. Sunrise production was 50,300 bbls/d compared with 52,100 bbls/d in the first quarter due to planned maintenance at the facility.

    Production from the Lloydminster thermal assets was 97,800 bbls/d, a decrease from 109,900 bbls/d in the prior quarter due to an unplanned outage at the Rush Lake facilities in west-central Saskatchewan. The company responded in early May to a steam release from a casing failure in an injection well and as a result, the Rush Lake facilities have been temporarily shut-in. The well has been brought under control, and the company is undertaking an investigation and developing a plan to safely restart production. Lloydminster conventional heavy oil output of 25,000 bbls/d increased from 21,800 bbls/d in the first quarter. Production in the Conventional segment was 119,800 BOE/d, down from 123,900 BOE/d in the previous quarter due in part to third-party outages.

    In the Offshore segment, production was 66,300 BOE/d compared with 68,800 BOE/d in the first quarter. In Asia Pacific, production volumes were 53,800 BOE/d, lower than the 57,200 BOE/d in the previous quarter, primarily due to planned maintenance at the Liwan Gas Project. In the Atlantic region, production was 12,500 bbls/d, an increase from 11,600 bbls/d in the prior quarter, due to a full quarter of production from the White Rose field, offset in part by maintenance at the partner-operated Terra Nova field in June.

    Total Downstream crude throughput in the second quarter was 665,800 bbls/d, up from 665,400 bbls/d in the first quarter. Crude throughput in Canadian Refining was 112,400 bbls/d, representing a utilization rate of 104%, compared with 111,900 bbls/d in the previous quarter.

    In U.S. Refining, crude throughput was 553,400 bbls/d, representing a utilization rate of 90%, compared with 553,500 bbls/d in the first quarter, reflecting early completion of a planned turnaround at the Toledo Refinery. U.S. Refining revenues were $6.5 billion, slightly higher than $6.4 billion in the previous quarter. Adjusted market capture5 in U.S. Refining was 58%, compared with 62% in the first quarter, due primarily to a narrower heavy oil price differential.

    3Non-GAAP financial measure. Total operating margin is the total of Upstream operating margin plus Downstream operating margin. See Advisory.
    4Specified financial measure. See Advisory.
    5Adjusted market capture excludes the impact of inventory holding gains or losses. Contains a non-GAAP financial measure. See Advisory.

    Financial

    Cash from operating activities in the second quarter increased to approximately $2.4 billion from $1.3 billion in the first quarter. Adjusted funds flow was $1.5 billion, compared with $2.2 billion in the prior quarter, and excess free funds flow (EFFF) was a shortfall of $306 million, compared with a surplus of $373 million in the first quarter. Net earnings in the second quarter declined slightly to $851 million from $859 million in the previous quarter. Second-quarter financial results were impacted by lower benchmark oil prices, lower Upstream production and higher planned maintenance costs relative to the first quarter.

    Long-term debt, including the current portion, was $7.2 billion as at June 30, 2025. Net debt was $4.9 billion as at June 30, 2025, slightly reduced from the previous quarter, as free funds flow of $355 million and a $923 million release of non-cash working capital more than offset returns to shareholders of $819 million, including the redemption of Cenovus’s Series 7 preferred shares on June 30, 2025 for $150 million. Subsequent to the quarter on July 15, the company repaid its 5.38% unsecured notes with a principal of US$133 million in full. The company continues to steward toward net debt of $4.0 billion and returning 100% of EFFF to shareholders over time, in accordance with its financial framework.

    Growth projects

    In the Oil Sands segment, Narrows Lake achieved first oil in mid-July and will continue ramping up through the remainder of the year. The optimization project at Foster Creek is approximately 87% complete and four new boilers that will add approximately 80,000 bbls/d of steam capacity were brought online in July. The project is expected to produce first oil in early 2026. At Sunrise, one well pad was started up early in the quarter and the drilling program remains on track to increase production and fully utilize the asset’s steam capacity.

    Significant progress has been made on the West White Rose project. The CGS was towed out and installed on the seabed ahead of schedule during the second quarter and the project’s topsides were safely lifted and set in place atop the CGS in mid-July. Hookup and commissioning have commenced, and the project is approximately 92% complete. Drilling is expected to begin by the end of the year and the project remains on schedule to produce first oil in the second quarter of 2026.

    2025 guidance update

    Cenovus has revised its 2025 corporate guidance to reflect the company’s updated outlook for the remainder of the year. It is available on cenovus.com under Investors.

    Changes to the company’s 2025 guidance include:

    • Total upstream production of 805,000 BOE/d to 825,000 BOE/d, a decrease of 10,000 BOE/d at the midpoint. This includes the impacts of the temporary shut in of the Rush Lake facilities.
    • Canadian downstream throughput of 105,000 bbls/d to 110,000 bbls/d, an increase of 5,000 bbls/d at the midpoint, reflecting strong year-to-date performance.
    • Reducing the range of Canadian Refining per-unit operating expenses, excluding turnaround costs, to $11.00/bbl to $12.00/bbl, as a result of higher throughput rates and lower expected costs.
    • Downstream turnaround expenses of $420 million to $450 million have been reduced by $45 million at the midpoint, primarily due to early completion of the Toledo turnaround.

    The company has also updated its commodity price assumptions and guidance range for cash taxes. Cenovus continues to execute its capital program and there has been no change to the expected capital investment range of $4.6 billion to $5.0 billion.

    Sustainability
    Cenovus’s 2024 Corporate Social Responsibility report, highlighting the company’s performance in safety, Indigenous reconciliation, and acceptance and belonging, was released today and is now available on the company’s website.

    Dividend declarations and share purchases

    The Board of Directors has declared a quarterly base dividend of $0.20 per common share, payable on September 29, 2025, to shareholders of record as of September 15, 2025.

    In addition, the Board has declared a quarterly dividend on each of the Cumulative Redeemable First Preferred Shares – Series 1 and Series 2 – payable on October 1, 2025 to shareholders of record as of September 15, 2025, as follows:

    Preferred shares dividend summary

    Share series Rate (%) Amount ($/share)
    Series 1 2.577 0.16106
    Series 2 4.374 0.27562

    All dividends paid on Cenovus’s common and preferred shares will be designated as “eligible dividends” for Canadian federal income tax purposes. Declaration of dividends is at the sole discretion of the Board and will continue to be evaluated on a quarterly basis.

    In the second quarter, the company returned $819 million to shareholders, composed of $301 million from its purchase of 17.2 million shares through its normal course issuer bid, $368 million through common and preferred share dividends, and $150 million through the redemption of Cenovus’s Series 7 preferred shares. Subsequent to the quarter, the company purchased 6.6 million common shares through July 28, 2025 for $129 million.

    2025 planned maintenance

    The following table provides details on planned maintenance activities at Cenovus assets in 2025 and anticipated production or throughput impacts.

    Potential quarterly production/throughput impact (Mbbls/d or MBOE/d)

    (MBOE/d or Mbbls/d) Q3 Q4 Annualized impact
    Upstream
    Oil Sands 5 – 7 – 7 – 9
    Offshore 2 – 4 – 1 – 2
    Conventional – – –
    Downstream
    Canadian Refining – – –
    U.S. Refining – 10 – 15 12 – 14


    Potential turnaround expenses

    ($ millions) Q3 Q4 Annualized impact
    Downstream
    Canadian Refining – – –
    U.S. Refining 55 – 70 45 – 60 420 – 450


    Conference call today

    Cenovus will host a conference call today, July 31, 2025, starting at 9 a.m. MT (11 a.m. ET).

    For analysts wanting to join the call, please register in advance.

    To participate in the live conference call, you must complete the online registration form in advance of the conference call start time. Register ahead of time to receive a unique PIN to access the conference call via telephone. Once registered, participants can dial into the conference call from their telephone via the unique PIN or click on the “Call Me” option to receive an automated call directly on their telephone.

    An audio webcast will also be available and archived for approximately 30 days.

    Advisory

    Basis of Presentation

    Cenovus reports financial results in Canadian dollars and presents production volumes on a net to Cenovus before royalties basis, unless otherwise stated. Cenovus prepares its financial statements in accordance with International Financial Reporting Standards (IFRS) Accounting Standards.

    Barrels of Oil Equivalent

    Natural gas volumes have been converted to barrels of oil equivalent (BOE) on the basis of six thousand cubic feet (Mcf) to one barrel (bbl). BOE may be misleading, particularly if used in isolation. A conversion ratio of one bbl to six Mcf is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil compared with natural gas is significantly different from the energy equivalency conversion ratio of 6:1, utilizing a conversion on a 6:1 basis is not an accurate reflection of value.

    Product types

    Product type by operating segment Three months ended
    June 30, 2025
    Oil Sands
    Bitumen (Mbbls/d) 552.1
    Heavy crude oil (Mbbls/d) 25.0
    Conventional natural gas (MMcf/d) 16.5
    Total Oil Sands segment production (MBOE/d) 579.8
    Conventional
    Light crude oil (Mbbls/d) 4.5
    Natural gas liquids (Mbbls/d) 20.4
    Conventional natural gas (MMcf/d) 569.2
    Total Conventional segment production (MBOE/d) 119.8
    Offshore
    Light crude oil (Mbbls/d) 12.5
    Natural gas liquids (Mbbls/d) 9.5
    Conventional natural gas (MMcf/d) 265.7
    Total Offshore segment production (MBOE/d) 66.3
    Total Upstream production (MBOE/d) 765.9


    Forward‐looking Information

    This news release contains certain forward‐looking statements and forward‐looking information (collectively referred to as “forward‐looking information”) within the meaning of applicable securities legislation about Cenovus’s current expectations, estimates and projections about the future of the company, based on certain assumptions made in light of the company’s experiences and perceptions of historical trends. Although Cenovus believes that the expectations represented by such forward‐looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Forward‐looking information in this document is identified by words such as “anticipate”, “continue”, “deliver”, “expect”, “plan”, “steward”, and “will” or similar expressions and includes suggestions of future outcomes, including, but not limited to, statements about: Net Debt target; returning Excess Free Funds Flow to shareholders; growth plans and projects; maximizing value; production guidance; timing of startup of the Foster Creek optimization project; ramping up production at Narrows Lake; investigating the Rush Lake incident and developing a plan to restart production; the Sunrise drilling program; the hookup and commissioning of, and timing of drilling at the West White Rose project; executing the capital program; 2025 planned maintenance; and dividend payments.

    Developing forward‐looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties, some of which are specific to Cenovus and others that apply to the industry generally. The factors or assumptions on which the forward‐looking information in this news release are based include, but are not limited to: the allocation of free funds flow; commodity prices, inflation and supply chain constraints; Cenovus’s ability to produce on an unconstrained basis; Cenovus’s ability to access sufficient insurance coverage to pursue development plans; Cenovus’s ability to deliver safe and reliable operations and demonstrate strong governance; and the assumptions inherent in Cenovus’s updated 2025 corporate guidance available on cenovus.com.

    The risk factors and uncertainties that could cause actual results to differ materially from the forward‐looking information in this news release include, but are not limited to: the accuracy of estimates regarding commodity production and operating expenses, inflation, taxes, royalties, capital costs and currency and interest rates; risks inherent in the operation of Cenovus’s business; and risks associated with climate change and Cenovus’s assumptions relating thereto and other risks identified under “Risk Management and Risk Factors” and “Advisory” in Cenovus’s Management’s Discussion and Analysis (MD&A) for the year ended December 31, 2024.

    Except as required by applicable securities laws, Cenovus disclaims any intention or obligation to publicly update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned that the foregoing lists are not exhaustive and are made as at the date hereof. Events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward‐looking information. For additional information regarding Cenovus’s material risk factors, the assumptions made, and risks and uncertainties which could cause actual results to differ from the anticipated results, refer to “Risk Management and Risk Factors” and “Advisory” in Cenovus’s MD&A for the periods ended December 31, 2024 and June 30, 2025 and to the risk factors, assumptions and uncertainties described in other documents Cenovus files from time to time with securities regulatory authorities in Canada (available on SEDAR+ at sedarplus.ca, on EDGAR at sec.gov and Cenovus’s website at cenovus.com).

    Specified Financial Measures

    This news release contains references to certain specified financial measures that do not have standardized meanings prescribed by IFRS Accounting Standards. Readers should not consider these measures in isolation or as a substitute for analysis of the company’s results as reported under IFRS Accounting Standards. These measures are defined differently by different companies and, therefore, might not be comparable to similar measures presented by other issuers. For information on the composition of these measures, as well as an explanation of how the company uses these measures, refer to the Specified Financial Measures Advisory located in Cenovus’s MD&A for the period ended June 30, 2025 (available on SEDAR+ at sedarplus.ca, on EDGAR at sec.gov and on Cenovus’s website at cenovus.com) which is incorporated by reference into this news release.

    Upstream Operating Margin and Downstream Operating Margin

    Upstream Operating Margin and Downstream Operating Margin, and the individual components thereof, are included in Note 1 to the interim Consolidated Financial Statements.

    Total Operating Margin

    Total Operating Margin is the total of Upstream Operating Margin plus Downstream Operating Margin.

      Upstream (6) Downstream (6) Total
    ($ millions) Q2 2025 Q1 2025 Q2 2024 Q2 2025 Q1 2025 Q2 2024 Q2 2025 Q1 2025 Q2 2024
    Revenues
    Gross Sales 7,394 9,252 8,715 7,743 7,705 8,750 15,137 16,957 17,465
    Less: Royalties (621) (906) (859) — — — (621) (906) (859)
      6,773 8,346 7,856 7,743 7,705 8,750 14,516 16,051 16,606
    Expenses
    Purchased Product 1,111 1,167 815 6,878 7,082 7,796 7,989 8,249 8,611
    Transportation and Blending 2,621 3,247 3,043 — — — 2,621 3,247 3,043
    Operating 896 893 889 947 854 1,099 1,843 1,747 1,988
    Realized (Gain) Loss on Risk Management 8 (9) 20 (11) 6 8 (3) (3) 28
    Operating Margin 2,137 3,048 3,089 (71) (237) (153) 2,066 2,811 2,936

    6Found in Note 1 of the June 30, 2025, or the March 31, 2025, interim Consolidated Financial Statements. Revenues and purchased product for Q2 2024 Downstream operations were revised. See Note 21 of our June 30, 2025, interim Consolidated Financial Statements.

    Adjusted Funds Flow, Free Funds Flow and Excess Free Funds Flow

    The following table provides a reconciliation of cash from (used in) operating activities found in Cenovus’s interim Consolidated Financial Statements to Adjusted Funds Flow, Free Funds Flow and Excess Free Funds Flow. Adjusted Funds Flow per Share – Basic and Adjusted Funds Flow per Share – Diluted are calculated by dividing Adjusted Funds Flow by the respective basic or diluted weighted average number of common shares outstanding during the period and may be useful to evaluate a company’s ability to generate cash.

      Three Months Ended
    ($ millions) June 30, 2025 March 31, 2025 June 30, 2024
    Cash From (Used in) Operating Activities (7) 2,374 1,315 2,807
    (Add) Deduct:      
    Settlement of Decommissioning Liabilities (68) (36) (48)
    Net Change in Non-Cash Working Capital 923 (861) 494
    Adjusted Funds Flow 1,519 2,212 2,361
    Capital Investment 1,164 1,229 1,155
    Free Funds Flow 355 983 1,206
    Add (Deduct):      
    Base Dividends Paid on Common Shares (364) (327) (334)
    Purchase of Common Shares under Employee Benefit Plan (15) (58) —
    Dividends Paid on Preferred Shares (4) (6) (9)
    Settlement of Decommissioning Liabilities (68) (36) (48)
    Principal Repayment of Leases (94) (83) (75)
    Acquisitions, Net of Cash Acquired (129) (100) (5)
    Proceeds From Divestitures 13 — —
    Excess Free Funds Flow (306) 373 735

    7Found in the June 30, 2025, or the March 31, 2025, interim Consolidated Financial Statements.

    Adjusted Market Capture

    Adjusted market capture contains a non-GAAP financial measure and is used in the company’s U.S. Refining segment to provide an indication of margin captured relative to what was available in the market based on widely-used benchmarks. Cenovus defines adjusted market capture as refining margin, net of holding gains and losses, divided by the weighted average 3-2-1 market benchmark crack, net of RINs, expressed as a percentage. The weighted average crack spread, net of RINs, is calculated on Cenovus’s operable capacity-weighted average of the Chicago and Group 3 3-2-1 benchmark market crack spreads, net of RINs.

    The company previously disclosed market capture which did not exclude the effect of inventory holding gains or losses. Cenovus replaced market capture with adjusted market capture to exclude the impact of inventory holding gains or losses. The company believes this metric provides more comparability and accuracy when measuring the cash generating performance of our downstream operations. Comparative periods were revised to conform with our current presentation.

    ($ millions) Three months ended
    June 30, 2025    		 Three months ended
    March 31, 2025
    Revenues (8) 6,455 6,423
    Purchased Product (8) 5,838 6,006
    Gross Margin 617 417
    Inventory Holding (Gain) Loss 62 23
    Adjusted Gross Margin 679 440
    Total Processed Inputs (Mbbls/d) 594.2 581.0
    Adjusted Gross Margin ($/bbl) 12.57 8.41
    Operable Capacity (Mbbls/d) 612.3 612.3
    Operable Capacity by Regional Benchmark (percent)
    Chicago 3-2-1 Crack Spread Weighting 81 81
    Group 3 3-2-1 Crack Spread Weighting 19 19
    Benchmark Prices and Exchange Rate
    Chicago 3-2-1 Crack Spread (US$/bbl) 21.64 13.68
    Group 3 3-2-1 Crack Spread (US$/bbl) 23.07 16.48
    RINs (US$/bbl) 6.12 4.76
    US$ per C$1 – Average 0.723 0.697
    Weighted Average Crack Spread, Net of RINs ($/bbl) 21.86 13.58
    Adjusted Market Capture (percent) 58 62

    8Found in Note 1 of the June 30, 2025, or the March 31, 2025, interim Consolidated Financial Statements.

    Cenovus Energy Inc.

    Cenovus Energy Inc. is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The company is committed to maximizing value by developing its assets in a safe, responsible and cost-efficient manner, integrating environmental, social and governance considerations into its business plans. Cenovus common shares and warrants are listed on the Toronto and New York stock exchanges, and the company’s preferred shares are listed on the Toronto Stock Exchange. For more information, visit cenovus.com.

    Find Cenovus on Facebook, LinkedIn, YouTube and Instagram.

    Cenovus contacts

    Investors
    Investor Relations general line
    403-766-7711

    Media
    Media Relations general line
    403-766-7751

    The MIL Network –

  • Govt consistently increased budget allocation for science and research in last five years: Jitendra Singh

    Source: Government of India

    Source: Government of India (4)

    The government has consistently increased the budget allocation for science and research, with the highest allocation made in FY 2025-26 over the last five years, Union Minister of State for Science and Technology Jitendra Singh informed Parliament on Thursday.

    In a written reply in the Rajya Sabha, Singh said that “more than ₹65,307 crore has been allocated to six scientific agencies for research in FY 2025-26.” In comparison, ₹41,581.96 crore was allocated for science and research in 2024-25, and ₹39,843 crore in 2023-24.

    In 2022-23, the government allocated ₹37,828 crore, while ₹37,823 crore was allocated in 2021-22.

    The six major scientific agencies/departments are the Department of Science and Technology (DST), the Department of Scientific and Industrial Research/Council of Scientific and Industrial Research (DSIR/CSIR), the Department of Biotechnology (DBT), the Department of Space (DoS), the Department of Atomic Energy (DAE), and the Ministry of Earth Sciences (MoES).

    “DST received the highest allocation of ₹28,508.90 crore in FY 2025-26, followed by DoS with ₹13,416.20 crore,” Singh said. These agencies have received their highest allocations this year since FY 2021-22.

    Additionally, the Minister informed that the government has been implementing several fellowships offering direct benefits to young scientists and researchers.

    Some of the key schemes include the INSPIRE Fellowship, INSPIRE Faculty Fellowship, Women in Science and Engineering (WISE)-PhD, WISE-Post Doctoral Fellowship (PDF), and the Scheme for Young Scientists and Technologists (SYST).

    To provide high-level strategic direction for research, innovation, and entrepreneurship in the country, the government has established the Anusandhan National Research Foundation (ANRF) through the ANRF Act of 2023, Singh added.

    Under the Act, special provisions have been made to encourage public sector enterprises as well as private sector entities to invest in ANRF-led initiatives.

    Recently, the government launched the Research, Development and Innovation (RDI) scheme with a financial outlay of ₹1 lakh crore over five years. This DST-led scheme aims to promote private sector participation in sunrise sectors, thereby driving growth and innovation.

    Singh also informed the House about the steps taken by the government to enhance private sector participation in research and development.

    Key efforts include incentivising private sector investment to increase their share in Gross Expenditure on Research and Development (GERD), and creating avenues for collaborative science, technology, and innovation (STI) funding through portfolio-based mechanisms such as public-private partnerships and other innovative hybrid funding models, the Minister said.

    IANS

  • IMD forecasts week-long downpour in Northeast; rainfall subsides in central India

    Source: Government of India

    Source: Government of India (4)

    The India Meteorological Department (IMD) on Thursday forecast heavy to very heavy rainfall over the Northeast and adjoining eastern India during the next seven days, with isolated extremely heavy showers expected in Assam and Meghalaya on August 2. In contrast, a significant reduction in rainfall is likely over eastern Rajasthan and western Madhya Pradesh starting August 1, while central and southern peninsular India are expected to witness subdued rainfall activity over the next six to seven days.

    According to the IMD, very heavy rainfall is expected in Rajasthan on July 31, and across Arunachal Pradesh from August 1 to 6. Similarly, heavy rainfall is anticipated in Assam and Meghalaya between July 31 and August 3, and again on August 6. Other regions likely to experience very heavy rainfall include sub-Himalayan West Bengal and Sikkim from August 2 to 4, and Bihar on August 2 and 3.

    In the past 24 hours (ending at 8:30 AM on July 31), heavy to very heavy rainfall (7–20 cm) was recorded at isolated places over eastern Rajasthan, western Madhya Pradesh, and Jharkhand. Heavy rainfall (7–11 cm) was also observed in parts of Haryana, Punjab, western Uttar Pradesh, western Rajasthan, West Bengal & Sikkim, Chhattisgarh, eastern Madhya Pradesh, Assam & Meghalaya, Odisha, and Bihar.

    For the Delhi-NCR region, the forecast indicates generally cloudy skies with light to moderate rainfall and thunderstorms through August 3.

    On Thursday, the city is likely to receive one or two spells of light rain, with a possibility of moderate rain at isolated spots. Maximum temperatures will range between 30 to 32°C, below normal by 2 to 4°C. Surface winds will blow from the southeast at 5–10 kmph in the morning and afternoon, shifting to the northeast by evening.

    On August 1, the capital will see very light to light rain with thunderstorms or lightning. Maximum and minimum temperatures are expected to range between 33 to 35°C and 23 to 25°C, respectively, both remaining below normal. Winds will shift from the northeast in the morning to southwest in the afternoon at 10–15 kmph, later coming from the southeast during the evening and night.

    Rainfall will continue on August 2 and 3, with cloudy skies and light precipitation accompanied by thunderstorms. Temperatures will hover between 34 to 36°C for the maximum and 24 to 26°C for the minimum, with the latter staying below normal. Winds are expected to remain between 10–20 kmph from varying directions, predominantly from the northwest and northeast.

  • MIL-OSI Africa: Canon named a Leader in IDC MarketScape: Worldwide Hardcopy Remanufacturing 2025 Vendor Assessment

    Source: APO

    Today, Canon (https://en.Canon-CNA.com) is pleased to announce that it has been named as a Leader in The IDC MarketScape: Worldwide Hardcopy Remanufacturing 2025 Vendor Assessment [1]. The report highlights the increased demand for circularity and sustainability in the print and document solutions market and takes an in-depth look at the global, regional, and local level activities of eight major industry vendors.

    The study looks specifically at device and consumables remanufacturing, assessing the capabilities of those surveyed through a number of factors including types of remanufactured products, levels of innovation, cost of ownership, sales strategy and distribution. With demand for remanufactured printing technology increasing as sustainability becomes an integral business priority, the report provides a strong reference point for businesses who wish to improve the carbon footprint of their print infrastructure.

    The IDC MarketScape report highlighted Canon’s strengths including its remanufacturing history and resources, citing that “Canon has been remanufacturing its products since the last millennium and has a wealth of experience and resources across the globe to meet current and future market trends for reuse”. It also noted the breadth of Canon’s office multifunction printer portfolio, highlighting. that “Canon’s remanufactured devices include monochrome and colour A3 devices and cover a wide variety of speed segments”.

    Building on this, Hiro Imamura, Executive Vice President, Digital Printing & Solutions at Canon Europe comments; “With a strong heritage in sustainability and global remanufacturing and refurbishing expertise, we are well placed to help our customers make concrete steps to improve their carbon footprint and meet their environmental goals. Reusing, recycling and repairing our products for a second life is a core part of this approach and we are delighted to be recognised as a Leader in this important IDC MarketScape report. We will continue to accelerate our efforts towards the circular economy, reducing impacts across every single part of our business and expanding our sustainable product range, from our printers to our papers, to further support our customers for the future”.

    About Canon’s sustainability actions

    Canon is committed to achieving carbon net zero emissions by 2050 and has recently been awarded with the EcoVadis Platinum Rating for its sustainability efforts, placing it within the top 1%  of companies assessed, with an overall score in the 99th percentile. This accolade highlights Canon’s strong sustainability focus throughout its global business, across crucial areas covering environmental, social and governance criteria.

    Circular approach

    Support for the circular economy also forms a significant part of Canon’s sustainability strategy. The robust and durable nature of Canon’s products provides a strong platform for refurbishment and remanufacturing processes – supporting the organization in its efforts to recycle parts and hardware, where possible, for a second life.

    Canon remanufactures its flagship imageRUNNER ADVANCE multifunction devices, which it markets as the imageRUNNER ADVANCE ES and ES+ range in the EMEA region, and as the Refreshed Series in Japan. This robust monochrome and colour A3 range is made with at least 90%+ reused parts, undergoing intensive cleaning, part replacement and rebuilding processes at Canon’s specialist factories. This result is a like new quality product which delivers optimal performance to support different business needs. Within its production print business, Canon also remanufactures its Arizona devices to support customers in the wide format segment. 

    Additionally, in EMEA, Canon also refurbishes its imageRUNNER ADVANCE range to create its Certified Used (CU range) – these multifunction devices deliver quality, high performance printers, which are designed for a second life.

    Canon’s second life products are also supported by regular firmware and software updates – helping customers to deliver high levels of workflow productivity with security and further contributing towards their sustainability efforts.

    Recycling

    Canon also has a long-established inkjet cartridge recycling programme, which began in 1996 and is available in 15 countries across Europe. At Canon Bretagne in France, Canon operates a closed loop toner cartridge recycling programme and since 2011, has established a system for collecting used toner bottles, refilling them with toner, and supplying them to the European market, helping to further reduce Canon’s plastic usage.

    To learn more about Canon’s approach to sustainability, please see here (http://apo-opa.co/46BqReK)

    [1] Doc # EUR153222025, March 2025

    Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).

    Media enquiries, please contact:
    Canon Central and North Africa
    Mai Youssef
    e. Mai.youssef@canon-me.com

    APO Group – PR Agency
    Rania ElRafie
    e. Rania.ElRafie@apo-opa.com

    About IDC MarketScape:
    IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.

    About Canon Central and North Africa:
    Canon Central and North Africa (CCNA) (https://en.Canon-CNA.com) is a division within Canon Middle East FZ LLC (CME), a subsidiary of Canon Europe. The formation of CCNA in 2016 was a strategic step that aimed to enhance Canon’s business within the Africa region – by strengthening Canon’s in-country presence and focus. CCNA also demonstrates Canon’s commitment to operating closer to its customers and meeting their demands in the rapidly evolving African market.

    Canon has been represented in the African continent for more than 15 years through distributors and partners that have successfully built a solid customer base in the region. CCNA ensures the provision of high quality, technologically advanced products that meet the requirements of Africa’s rapidly evolving marketplace. With over 100 employees, CCNA manages sales and marketing activities across 44 countries in Africa.

    Canon’s corporate philosophy is Kyosei (http://apo-opa.co/4moTJvy) – ‘living and working together for the common good’. CCNA pursues sustainable business growth, focusing on reducing its own environmental impact and supporting customers to reduce theirs using Canon’s products, solutions and services. At Canon, we are pioneers, constantly redefining the world of imaging for the greater good. Through our technology and our spirit of innovation, we push the bounds of what is possible – helping us to see our world in ways we never have before. We help bring creativity to life, one image at a time. Because when we can see our world, we can transform it for the better.

    For more information: https://en.Canon-CNA.com

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: Import of poultry meat and products from Somerset District of Somerset County in UK suspended

    Source: Hong Kong Government special administrative region

    ​The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (July 31) that in view of a notification from the World Organisation for Animal Health (WOAH) about an outbreak of highly pathogenic H5N1 avian influenza in Somerset District of Somerset County in the United Kingdom (UK), the CFS has instructed the trade to suspend the import of poultry meat and products (including poultry eggs) from the area with immediate effect to protect public health in Hong Kong.

    A CFS spokesman said that according to the Census and Statistics Department, Hong Kong imported about 390 tonnes of chilled and frozen poultry meat, and about 830 000 poultry eggs from the UK in the first six months of this year.

    “The CFS has contacted the British authority over the issue and will closely monitor information issued by the WOAH and the relevant authorities on the avian influenza outbreak. Appropriate action will be taken in response to the development of the situation,” the spokesman said.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Axi Honoured with Five Awards by World Business Outlook Awards for 2025

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, July 31, 2025 (GLOBE NEWSWIRE) — Axi, an industry-leading global broker, has been recognised with five awards* from the World Business Outlook Awards for 2025, marking a significant milestone in its continued growth and commitment to excellence:

    Best CFD Provider Australia

    Best Forex Trading Platform Australia

    Best 24/7 Customer Service Provider Australia

    Best Forex Broker Australia

    Most User-Friendly Trading Experience Australia

    “We are beyond proud and humbled to receive five awards from World Business Outlook Awards,” said Louis Cooper, CCO at Axi. “This recognition reflects and reinforces our mission to help our traders and partners gain the edge they need to stay ahead in this rapidly evolving industry. From providing the best-in-class trading platform and backing it up with top-tier customer service, we’re incredibly excited to see our efforts reaffirmed.”

    The latest accolade follows a series of other notable achievements for Axi. Earlier this year, Global Business and Finance Magazine Awards recognised Axi with the ‘Best Financial Institution 2025’ award for the UK, Middle East, and LatAm markets. In 2024, the broker received widespread industry acclaim with the ‘Innovator of the Year’ award at the 2024 Dubai Forex Expo. That same year, Axi was named Best Broker (MENA), Most Trusted Broker (LatAm), Most Reliable Broker (Europe), and Best Introducing Broker Program (Asia) by Global Forex Awards.

    About Axi

    Axi is a global online FX and CFD trading company, with thousands of customers in 100+ countries worldwide. Axi offers CFDs for several asset classes including Forex, Shares, Gold, Oil, Coffee, and more.

    For more information or additional comments from Axi, please contact: mediaenquiries@axi.com

    *These awards are granted to the Axi group of companies.

    The MIL Network –

  • Cabinet clears ₹6,520 crore outlay for PM Kisan Sampada Yojana till FY26

    Source: Government of India

    Source: Government of India (4)

    The Union Cabinet on Thursday approved a total outlay of ₹6,520 crore for the ongoing Central Sector Scheme, Pradhan Mantri Kisan Sampada Yojana (PMKSY), for the period of the 15th Finance Commission cycle (2021-22 to 2025-26). The approved amount includes an additional allocation of ₹1,920 crore to support new and existing projects under the scheme.

    Of the total outlay, ₹1,000 crore has been earmarked to set up 50 Multi-Product Food Irradiation Units under the component scheme Integrated Cold Chain and Value Addition Infrastructure (ICCVAI) and 100 NABL-accredited Food Testing Laboratories under the Food Safety and Quality Assurance Infrastructure (FSQAI) component. These initiatives are in alignment with announcements made in the Union Budget.

    The remaining ₹920 crore will be used to sanction projects under various other components of PMKSY during the current Finance Commission cycle. Both ICCVAI and FSQAI are demand-driven schemes, with proposals to be invited through Expressions of Interest (EOIs) from eligible entities across the country. Projects will be selected following scrutiny based on the eligibility norms outlined in the scheme guidelines.

    According to the Ministry of Food Processing Industries, the 50 irradiation units are expected to create additional preservation capacity ranging from 20 to 30 lakh metric tonnes (LMT) per annum, depending on the types of food processed. These units will play a crucial role in extending the shelf life of agricultural produce, thereby reducing post-harvest losses.

    In parallel, the proposed 100 food testing labs in the private sector are aimed at developing advanced infrastructure for analysing food samples. The Ministry said these facilities would help strengthen food safety mechanisms and ensure the availability of safe, quality-compliant food products in the market.

    The Pradhan Mantri Kisan Sampada Yojana, launched in 2017, seeks to create modern infrastructure and efficient supply chains for the food processing sector.

  • MIL-OSI USA: Secretary Noem is Taking a Sledgehammer to Criminal Human Trafficking Rings

    Source: US Federal Emergency Management Agency

    Headline: Secretary Noem is Taking a Sledgehammer to Criminal Human Trafficking Rings

    lass=”text-align-center”>On this World Day Against Trafficking in Persons, Kristi Noem and the Department of Homeland Security continue taking action to disrupt criminal human trafficking organizations
    WASHINGTON – On this year’s World Day Against Trafficking in Persons, the Department of Homeland Security (DHS) is announcing a series of major crack downs against the worst of the worst criminal organizations: human trafficking rings

     
    The previous administration’s open border policies empowered human traffickers and allowed over 450,000 unaccompanied children to be illegally smuggled over the border

     
    Under President Trump and DHS Secretary Kristi Noem, the full weight of the American government is bringing the hammer down on human trafficking rings

      In just the first few months, the Trump administration has developed leads on thousands of human trafficking cases

     
    DHS has also cracked down on the criminal terrorist gang Tren de Aragua, which enriches itself through the sex trafficking of vulnerable young women

      The Trump administration has arrested more than 2,700 members of Tren de Aragua so far

     
    This crisis is fueled by organized crime networks: sophisticated cartels that exploited the weakness of the previous administration, especially its open border and refusal to enforce immigration law, to rake in billions from forced labor, brutal sexual exploitation, coercing innocent people into drug running, and other heinous crimes

     
    “The brave men and women of DHS are the best in the world at going after traffickers

    They are always able to track down those who are trafficking individuals, find the ringleaders, and rip that evil off by its head,” said Secretary Kristi Noem

    “I’m so thankful that I get the chance to lead individuals like that, and agents who get up every day to help save our children and to save women and men from the kind of slavery that we’ve seen

    ” 
    Below are some examples of how DHS is fighting to put human traffickers out of business: 

    July 28, 2025: As part of Operation Apex Predator, a Child Exploitation Investigations Unit initiative with the Cyber Crimes Center, Immigration and Customs Enforcement (ICE) Newark arrested four illegal alien child predators over the course of four days

    All four are registered sex offenders

    July 23, 2025: ICE arrested 243 illegal aliens in the Denver metro area

    Among those arrested were aliens wanted for human trafficking, and several members of transnational criminal organizations (TCOs), including Tren de Aragua (TdA), Los Zetas, and the Sinaloa Cartel

    July 22, 2025: Following an ICE Homeland Security Investigations (HSI) investigation, a resident of Laredo, Texas was sentenced to 63 months in prison for smuggling 101 migrants in a locked trailer

    Among the illegal aliens smuggled were 12 children

    The suspect was sentenced after pleading guilty to conspiracy to transport migrants

    July 21, 2025: As a result of an investigation by ICE HSI Rio Grande Valley, a convicted human smuggler was sentenced to 20 years in prison for possessing images of sexual assaults of prepubescent children

    July 10, 2025: ICE and Customs and Border Protection (CBP) executed criminal warrant operations at marijuana facilities in Carpinteria and Camarillo, California

    In these facilities, at least 14 migrant children were rescued from potential exploitation, forced labor, and human trafficking

    During this operation, federal officers also arrested at least 361 illegal aliens

    Among those arrested were criminals with convictions for kidnapping, rape, attempted rape, and attempted child molestation, among other charges

    July 10, 2025: As the result of an ICE New York investigation, the leader of a Mexican sex trafficking organization was sentenced to 188 months in prison for sex trafficking multiple victims by force, fraud, and coercion

    July 9, 2025: An ICE Del Rio investigation resulted in an illegal Honduran alien being sentenced to 10 years in prison, with three years of supervised release, for his role in smuggling thousands of aliens into the United States for financial gain

    His smuggling conspiracy spanned three years and involved thousands of aliens from 11 different countries

    July 7, 2025: Border Patrol agents assisted the U

    S

    Marshals in executing an arrest warrant on a high-priority target linked to a criminal syndicate operating in human exploitation

    The suspect, a U

    S

    citizen, was wanted for multiple charges, including procurement of persons, placing individuals into prostitution, residing in a house of prostitution, and profiting from the earnings of prostitution

    The suspect was arrested without incident in Yuma, Arizona

     
    June 24, 2025: HSI Nashville identified one child victim and one adult victim of labor trafficking

    During an immigration court proceeding, the child victim revealed that she and her 18-year-old brother had been forced by their sponsor to work to pay off their smuggling fees and to pay for the sponsor’s household expenses

    June 16, 2025: A worksite enforcement operation by ICE HSI targeted employers and subcontractors who knowingly hire illegal aliens

    During this operation, HSI Mobile identified and rescued a child and arrested eight foreign nationals for violating immigration law

    The child was found to be working among adults and was believed to have never attended school since entering the United States two years ago

    June 6, 2025: The Department of Justice (DOJ) indicted Kilmar Abrego Garcia, a Venezuelan illegal alien and member of MS-13 arrested by ICE, on charges of alien smuggling and conspiracy to commit alien smuggling

    Despite the mainstream media insisting for months that Garcia was an innocent “Maryland father,” he is now standing trial after evidence emerged of his involvement in criminal smuggling rings

    June 2, 2025: ICE Rio Grande Valley discovered a stash house in South Texas and subsequently arrested 16 illegal aliens

    The owner of the property admitted to harboring the illegal aliens, who came from five different countries

    A Mexican national was taken in for questioning for his role in human smuggling

    May 28, 2025: HSI New York special agents arrested an adult male from Ecuador at his residence for violations relating to the sexual exploitation of a child

    New York received information regarding a 15-year-old female who was apprehended near El Paso, Texas, after illegally entering the United States

    At that time, she was pregnant with the adult’s child and had been in a relationship with him in Ecuador since the age of thirteen

    The subject organized the smuggling of the teenager across the border to engage in sexual acts

    His mother sponsored her after her illegal entry, and the subject continued his relationship with the children, living with his mother in Harlem

    May 28, 2025: CBP issued a Withhold Release Order against Zhen Fa 7, a Chinese-flagged fishing vessel

    As a result, CBP officers at all U

    S

    ports of entry will detain seafood harvested by Zhen Fa 7 based on reasonable suspicion that the vessel uses forced labor to harvest such seafood

    May 28, 2025: Border Patrol agents in the San Diego Sector prevented an attempt to smuggle two Mexican nationals into the United States

    The attempt involved one United States citizen and one Mexican national, who attempted to smuggle the illegal aliens across the border using a truck

    Inside the truck were three fully loaded firearms, including a “ghost gun

    ” The suspected smugglers face felony charges of bringing in and harboring aliens, and unlawful acts involving firearms

     
    May 12, 2025: HSI Austin identified and rescued a child, arrested two Guatemalan nationals for violating immigration law, and initiated an HSI-led investigation of state and federal charges of human trafficking and statutory rape

    During a welfare check, HSI Agents, assisted by the FBI, identified a pregnant 14-year-old female residing with an unrelated adult male sponsor, later determined to be the biological father of the unborn child

    May 7, 2025: CBP’s Air and Marine Operations (AMO) interdicted a vessel with four illegal aliens from Uzbekistan that were being smuggled into Puerto Rico

    The vessel attempted to enter Puerto Rico on the island of Vieques; onboard were the four illegal aliens from Uzbekistan and three United States citizens

    The Uzbeki nationals did not have any documents for an authorized entry or stay in the United States

    May 4, 2025: Border Patrol agents in the Tucson Sector arrested a United States citizen and two Mexican nationals after a high-speed pursuit

    The United States citizen, who was driving the car and had an extensive criminal history, fled from law enforcement at high speed after failing to stop at an immigration checkpoint

    After crashing into another car, the three occupants fled on foot before being arrested

    The driver faces federal charges that include human smuggling, fleeing law enforcement, and endangering human life

    May 2, 2025: Four Mexican nationals in the United States illegally were charged for their roles in an international human smuggling conspiracy that brought aliens across the Canadian border into the United States for profit

    The smuggling organization had been operating for two years and smuggled hundreds of aliens per week through Canada

    The aliens or their family members would pay thousands of dollars to be smuggled into the United States

    April 29, 2025: CBP officers at the Area Port of San Luis arrested a woman in connection with the failed smuggling attempt of a child

    The suspect, a Mexican citizen, had sedated the child prior to attempting to cross the border

    The suspect also presented a false birth certificate and alleged that she was the mother; the officers discovered that there was no family relationship between the woman and the child

    April 2, 2025: CBP issued a Withhold Release Order against Taepyung Salt Farm, based on information that reasonably indicates the use of forced labor in the production of the company’s sea salt products

    As a result, CBP personnel at all U

    S

    ports of entry will detain sea salt products from Taepyung Salt Farm in South Korea

    March 25, 2025: After an ICE Arizona investigation with law enforcement partners, a human smuggling coordinator was sentenced to 30 months in prison for her role in smuggling over 100 Colombians into the United States

    She had been operating a travel agency in her native country, Colombia, where she would charge the victims a fee to travel to Mexico, with additional bribes required at Mexican airports

    February 14, 2025: Working with the Tennessee Bureau of Investigation, an ICE investigation led to a four-count indictment against eight defendants with ties to Tren de Aragua on charges related to their involvement with a transnational commercial sex enterprise

    Everyone can be part of the fight against human trafficking

    The DHS Blue Campaign can help you recognize human trafficking and provide resources to report suspicious activity to law enforcement

     
    ###

    MIL OSI USA News –

  • MIL-OSI Banking: ASEAN Foreign Ministers’ Statement on the Outcome of the Special Meeting Hosted by Malaysia to Address the Current Situation Between Cambodia and Thailand

    Source: ASEAN

    We welcome the outcome of the Special Meeting chaired, hosted and witnessed by Prime Minister Dato’ Seri Anwar Ibrahim of Malaysia as the Chair of ASEAN, to address the situation between Cambodia and Thailand on 28 July 2025 in Putrajaya.

     

    We commend Malaysia’s role in facilitating bilateral dialogue toward ceasefire between Cambodia and Thailand. We are also appreciative of the role of the United States of America in co-organising the Special Meeting and the active participation of the People’s Republic of China, to promote a peaceful resolution to the ongoing situation.

     

    We encourage Cambodia and Thailand to resolve the issue amicably in accordance with international law, and consistent with the principles enshrined in the United Nations (UN) Charter, ASEAN Charter, Treaty of Amity and Cooperation in Southeast Asia, and in the spirit of ASEAN family, unity and good neighbourliness. We hope that the ceasefire agreed by both sides will be fully implemented in good faith.

     

    We are confident that the goodwill demonstrated by both Cambodia and Thailand will result in the full and effective implementation of the ceasefire and all decisions of the Special Meeting. We also express support for Malaysia’s readiness to coordinate an observer team comprising ASEAN Member States to impartially verify and ensure the implementation of the ceasefire.

     
    Download the full statement here.
    The post ASEAN Foreign Ministers’ Statement on the Outcome of the Special Meeting Hosted by Malaysia to Address the Current Situation Between Cambodia and Thailand appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Secretary-General of ASEAN delivers online lecture for Hiroshima University on “ASEAN 2045: Charting the Future of Community Building”

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, this afternoon delivered an online lecture for the IDEC Institute at Hiroshima University on the future of ASEAN Community-building, focusing on the ASEAN Community Vision 2045 and its four Strategic Plans. Dr. Kao also exchanged views virtually with students and faculty members on regional and global issues as well as ASEAN-Japan relations.

    The post Secretary-General of ASEAN delivers online lecture for Hiroshima University on “ASEAN 2045: Charting the Future of Community Building” appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Russia: Myanmar announces formation of new union government

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    YANGON, July 31 (Xinhua) — Myanmar’s National Defence and Security Council on Thursday formed a new union government and a National Security and Peace Commission, state broadcaster MRTV reported.

    The Union Government is headed by Nyo Soe as Prime Minister and the National Security and Peace Commission is led by Senior General Min Aung Hlaing, the statement said.

    According to the report, the National Defense and Security Council also decided to cancel the order to transfer powers to the commander-in-chief of the armed forces.

    Myanmar State Administrative Council spokesman Zaw Min Tun said on Thursday that the National Defence and Security Council had decided to lift the state of emergency to hold a general election.

    In February 2021, Myanmar’s then-acting President Myint Swe declared a one-year state of emergency and handed over supreme power to the Commander-in-Chief of the Armed Forces. The Office of the Commander-in-Chief of the Armed Forces subsequently formed the State Administrative Council, chaired by Min Aung Hlaing. Myanmar’s National Defense and Security Council has repeatedly extended the state of emergency for six months, until July 31 this year. –0–

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

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    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Digital Policy Office introduces initiatives to promote cybersecurity in second half 2025 (with photos)

    Source: Hong Kong Government special administrative region

    Digital Policy Office introduces initiatives to promote cybersecurity in second half 2025  
    The Commissioner for Digital Policy, Mr Tony Wong, said that with rapid developments in the digital era, cybersecurity threats have grown increasingly severe. The Government is adopting a multipronged strategy to continuously enhance the cybersecurity resilience of Hong Kong. Reviewing the DPO’s work on cybersecurity in the first half of the year, Mr Wong stated that in addition to co-ordinating with the HKIRC to launch the Cybersec One Programme to support small and medium-sized enterprises (SMEs), schools, and non-governmental organisations in strengthening their cybersecurity protection level, the DPO also worked closely with the CSTCB, the HKCERT and various stakeholders to organise a range of awareness campaigns and cybersecurity drills to raise cybersecurity awareness and response capabilities among government departments and the public. In the second half of the year, the DPO will continue to launch a variety of initiatives, including co-ordinating with the HKCERT to implement the Cybersecurity Service Providers Connect Programme, leading the organising of the second Hong Kong Cybersecurity Attack and Defence Drill, and hosting a series of activities to fully support the annual China Cybersecurity Week. These initiatives will further promote cross-sectoral and cross-regional collaboration, strengthen the local cybersecurity ecosystem, and drive the sustainable development of Hong Kong’s digital economy.
     
    At the briefing, the Chief Superintendent of the CSTCB, Mr Lam Cheuk-ho, announced the technology crime figures recorded in the first half of 2025. A total of 16 262 cases were recorded, with financial losses exceeding $3 billion, mainly attributable to substantial losses from online investment fraud, with both figures representing an increase of 0.5 per cent and 14.7 per cent respectively compared to the same period last year. Among these cases, there were only 42 incidents involving destructive hacking, a 22 per cent decrease compared to the same period last year. Mr Lam emphasised that in the face of escalating cybersecurity threats, the Police are intensifying law enforcement while actively strengthening the development of Hong Kong’s cybersecurity ecosystem from multiple dimensions through raising public awareness, nurturing professionals and enhanced public-private partnerships to comprehensively solidify the city’s cybersecurity defence.
     
    The Chief Executive Officer of the HKIRC, Mr Wilson Wong, shared the latest security scan findings, which revealed that around 65 per cent of websites belonging to SMEs, educational and social welfare organisations are at risk of data leakage, reminding organisations to act proactively by patching vulnerabilities and strengthening cybersecurity measures. He encouraged enterprises and organisations to leverage the services of the Cybersec One Programme, including free website risk assessments, vulnerability identifications, staff training and phishing email drills in order to foster a cybersecurity culture and comprehensively improve defence capabilities.
     
    The Chief Digital Officer of the Hong Kong Productivity Council, Mr Edmond Lai, speaking on behalf of the HKCERT, highlighted findings from the 2024 Hong Kong Enterprise Cyber Security Readiness Index and AI Security Survey, noting that nearly 70 per cent of surveyed businesses had experienced cyberattacks, underscoring the urgent need for companies to continue strengthening cybersecurity measures to confront increasingly complex and frequent threats. He added that the Cybersecurity Service Providers Connect Programme launched by the HKCERT will effectively connect cybersecurity service providers with local enterprises and organisations to help them find suitable solutions. The Programme is now open for applications, and the classified and vetted service providers will be showcased on a dedicated platform.
     
    In conclusion, Mr Tony Wong emphasised the theme of “Cybersecurity for the People, Cybersecurity relies on the People”, and maintained that cybersecurity requires the joint efforts of the whole society. Several large-scale major events will take place in Hong Kong in the second half of this year, including the 15th National Games and the Legislative Council general election, etc. These events extensively utilise information technology, and cybersecurity is critical to ensure the smooth execution of the large-scale events. The DPO will continue to partner with all sectors to launch diverse activities and training to continuously enhance Hong Kong’s overall capabilities to tackle risks in cybersecurity, and he appealed for media support in jointly disseminating the importance of cybersecurity and the building of a safer and more resilient digital future.
    Issued at HKT 18:38

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Economy grows 3.1% in Q2

    Source: Hong Kong Information Services

    Hong Kong’s economy in the second quarter increased 3.1% year-on-year, picking up from the 3% growth in the preceding quarter.

     

    The Census & Statistics Department announced the figures today as it released its advance estimates on gross domestic product for the second quarter.

     

    According to the estimates, private consumption expenditure increased 1.9% in real terms in the second quarter.

     

    Government consumption expenditure grew 2.5% year-on-year.

     

    Gross domestic fixed capital formation rose 2.9% year-on-year.

     

    Over the same period, exports of goods increased 11.5%, accelerated further from the growth of 8.4% in the first quarter. Imports of goods grew 12.7%, higher than the increase of 7.2% in the first quarter.

     

    Compared with a year earlier, exports of services rose 7.5% in the second quarter, while imports of services went up 7%.

     

    Commenting on the figures, the Government said that during the second quarter, total exports of goods saw accelerated growth, as the external demand was resilient and the temporary easing of US tariff measures led to some rush shipments.

     

    Exports of services continued to expand notably, thanks to strong growth in inbound tourism, further expansion in cross-boundary traffic, and vibrant financial and related business service activities amid the buoyant local stock market.

     

    Domestically, private consumption expenditure resumed moderate growth after four consecutive quarters of decline, as supported by the stabilisation in the domestic consumption market. Meanwhile, overall investment expenditure increased further alongside the economic expansion.

     

    Hong Kong’s economy exhibited remarkable resilience in the first half of 2025.

     

    Looking ahead, steady economic growth in Asia, particularly in the Mainland, combined with the Government’s various measures to bolster consumption sentiment, attract investment, diversify markets, and promote economic growth, will continue to provide steadfast support for various segments of the Hong Kong economy.

     

    Nevertheless, uncertainties in the external environment remain elevated. The US’ renewed tariff hikes of late will exert pressure on global trade flows as well as its domestic economic activity and inflation. The uncertain pace of US interest rate cuts will also affect investment sentiment.

     

    Moreover, the “rush shipment” effect is expected to fade later this year.

     

    Hong Kong’s economic performance going forward will, to a certain extent, depend on how these factors evolve, the Government added.

    MIL OSI Asia Pacific News –