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Category: Asia

  • MIL-OSI Analysis: New peace plan increases pressure on Israel and US as momentum grows for Palestinian statehood

    Source: The Conversation – UK – By Scott Lucas, Professor of International Politics, Clinton Institute, University College Dublin

    A new vision for Middle East peace emerged this week which proposes the withdrawal of Israel from Gaza and the West Bank, the disarming and disbanding of Hamas and the creation of a unified Palestinian state. The plan emerged from a “high-level conference” in New York on July 29, which assembled representatives of 17 states, the European Union and the Arab League.

    The resulting proposal is “a comprehensive and actionable framework for the implementation of the two-state solution and the achievement of peace and security for all”.

    Signatories include Turkey and the Middle Eastern states of Saudi Arabia, Qatar, Egypt and Jordan. Europe was represented by France, Ireland, Italy, Norway, Spain and the UK. Indonesia was there for Asia, Senegal for Africa, and Brazil, Canada and Mexico for the Americas. Neither the US nor Israel were present.

    Significantly, it is the first time the Arab states have called for Hamas to disarm and disband. But, while condemning Hamas’s attack on Israel of October 7 2023 and recalling that the taking of hostages is a violation of international law, the document is unsparing in its connection between a state of Palestine and an end to Israel’s assault on Gaza’s civilians.

    It says: “Absent decisive measures toward the two-state solution and robust international guarantees, the conflict will deepen and regional peace will remain elusive.”

    A plan for the reconstruction of Gaza will be developed by the Arab states and the Organisation of Islamic Cooperation – a Jeddah-based group which aims to be the collective voice of the Muslim world – supported by an international fund. The details will be hammered out at a Gaza Reconstruction and Recovery Conference, to be held in Cairo.

    It is a bold initiative. In theory, it could end the Israeli mass killing in Gaza, remove Hamas from power and begin the implementation of a process for a state of Palestine. The question is whether it has any chance of success.

    First, there appears to be growing momentum to press ahead with recognition of the state of Palestine as part of a comprehensive peace plan leading to a two-state solution. France, the UK and, most recently, Canada have announced they would take that step at the UN general assembly in September. The UK stated that it would do so unless Israel agreed to a ceasefire and the commencement of a substantive peace process.



    Read more:
    UK and France pledges won’t stop Netanyahu bombing Gaza – but Donald Trump or Israel’s military could

    These announcements follow those made in May 2024 by Spain, Ireland and Norway, three of the other European signatories. By the end of September at least 150 of the UN’s 193 members will recognise Palestinian statehood. Recognition is largely symbolic without a ceasefire and Israeli withdrawal from both Gaza and the West Bank. But it is essential symbolism.

    For years, many European countries, Canada, Australia and the US have said that recognition could not be declared if there was the prospect of Israel-Palestine negotiations. Now the sequence is reversed: recognition is necessary as pressure for a ceasefire and the necessary talks to ensure the security of both Israelis and Palestinians.

    Israel accelerated that reversal at the start of March, when it rejected the scheduled move to phase two of the six-week ceasefire negotiated with the help of the US, and imposed a blockade on aid coming into the Strip.

    The Netanyahu government continues to hold out against the ceasefire. But its loud blame of Hamas is becoming harder to accept. The images of the starvation in Gaza and warnings by doctors, humanitarian organisations and the UN of an effective famine with the deaths of thousands can no longer be denied.

    Saudi Arabia and Qatar, behind the scenes and through their embassies, have been encouraging European countries to make the jump to recognition. Their efforts at the UN conference in New York this week are another front of that campaign.

    Israel and the Trump administration

    But in the short term, there is little prospect of the Netanyahu government giving way with its mass killing, let alone entering talks for two states. Notably neither Israel nor the US took part in the conference.

    Trump has criticised the scenes of starvation in Gaza. But his administration has joined Netanyahu in vitriolic denunciation of France and the UK over their intentions to recognise Palestine. And the US president has warned the Canadian prime minister, Mark Carney, that recognition of Palestinian statehood would threaten Canada’s trade deal with the US.

    In response to Trump’s concern over the images of starving children and his exhortation “We’ve got to get the kids fed,” Israel has airdropped a few pallets of aid – less than a truck’s worth. Yet this appears more of a public relations exercise directed at Washington than a genuine attempt to ease the terrible condition on the Strip.

    A small number of lorries with supplies from UN and humanitarian organisations have also crossed the border, but only after lengthy delays and with half still held up. There is no security for transport and delivery of the aid inside Gaza.

    A sacrifice for a state?

    So the conference declaration is not relief for Gaza. Instead, it is yet another marker of Israel’s increasing isolation.

    After France’s announcement, the Netanyahu government thundered: “Such a move rewards terror and risks creating another Iranian proxy … A Palestinian state in these conditions would be a launch pad to annihilate Israel.”

    But while recognising Hamas’s mass killing of October 7 2023, most governments and their populations do not perceive Israel as attacking Hamas and its fighters. They see the Netanyahu government and Israeli military slaying and starving civilians.

    Even in the US, where the Trump administration is trying to crush sympathy for Palestine and Gazans in universities, non-governmental organisations and the public sphere, opinion is shifting.

    In a Gallup poll taken in the US and released on July 29, only 32% of respondents supported Israel’s actions in Gaza – an all-time low – and 60% opposed them. Netanyahu was viewed unfavourably by 52% and favourably by only 29%.

    Israel has lost its moment of “normalisation” with Arab states. Its economic links are strained and its oft-repeated claim to being the “Middle East’s only democracy” is bloodstained beyond recognition.

    This will be of no comfort to the people of Gaza facing death. But in the longer term, there is the prospect that this sacrifice will be the catalyst to recognise Palestine that disappeared in 1948.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

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

    – ref. New peace plan increases pressure on Israel and US as momentum grows for Palestinian statehood – https://theconversation.com/new-peace-plan-increases-pressure-on-israel-and-us-as-momentum-grows-for-palestinian-statehood-262259

    MIL OSI Analysis –

  • MIL-OSI Russia: The first Chinese-Russian choral festival opened in Suifenhe

    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) — Suifenhe, northeast China’s Heilongjiang Province, sparkled with new colors on July 30 thanks to an international cultural event – the grand opening of the first China-Russia Choir Festival.

    According to the city government website, the event was attended by about 500 Chinese and foreign artists and choral singing enthusiasts, representing 8 leading groups from Harbin Polytechnic University, Hong Kong, Shanghai, Anshan, Suzhou University, as well as Russian Vladivostok and Bolshoy Kamen /Primorsky Krai/.

    In his welcoming speech, Gao Jun, head of the Publicity Department of the CPC Suifenhe Municipal Committee, said that every corner of Suifenhe, which is the vanguard of China’s opening up to the north, is permeated with the atmosphere of spiritual intertwining of the peoples of the two neighboring countries. Eight Chinese and Russian choirs, like eight timbres merging into a single harmony, wrote notes in the camp of friendship on the Suifenhe stage.

    According to him, every sound becomes a new starting point for cultural mutual enrichment, and the warmth of mutual attraction of hearts penetrates into the souls of the peoples of the two countries.

    The festival is organized by the Suifenhe Cultural and Tourism Group and the Sing, China! New Choral Works Promotion Committee under the leadership of the Suifenhe City Department of Culture and Tourism.

    To ensure the professional level and international status of the festival, an authoritative jury of eight Chinese and foreign experts was formed. The festival program consists of 4 main blocks: the opening ceremony, competitive performances of high-level performers, master classes and an award ceremony. -0-

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: The first Chinese-Russian choral festival opened in Suifenhe

    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) — Suifenhe, northeast China’s Heilongjiang Province, sparkled with new colors on July 30 thanks to an international cultural event – the grand opening of the first China-Russia Choir Festival.

    According to the city government website, the event was attended by about 500 Chinese and foreign artists and choral singing enthusiasts, representing 8 leading groups from Harbin Polytechnic University, Hong Kong, Shanghai, Anshan, Suzhou University, as well as Russian Vladivostok and Bolshoy Kamen /Primorsky Krai/.

    In his welcoming speech, Gao Jun, head of the Publicity Department of the CPC Suifenhe Municipal Committee, said that every corner of Suifenhe, which is the vanguard of China’s opening up to the north, is permeated with the atmosphere of spiritual intertwining of the peoples of the two neighboring countries. Eight Chinese and Russian choirs, like eight timbres merging into a single harmony, wrote notes in the camp of friendship on the Suifenhe stage.

    According to him, every sound becomes a new starting point for cultural mutual enrichment, and the warmth of mutual attraction of hearts penetrates into the souls of the peoples of the two countries.

    The festival is organized by the Suifenhe Cultural and Tourism Group and the Sing, China! New Choral Works Promotion Committee under the leadership of the Suifenhe City Department of Culture and Tourism.

    To ensure the professional level and international status of the festival, an authoritative jury of eight Chinese and foreign experts was formed. The festival program consists of 4 main blocks: the opening ceremony, competitive performances of high-level performers, master classes and an award ceremony. -0-

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

    .

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Strategic Enterprise KN Group Expands Hong Kong International Business Headquarters, Driving Corporate Globalisation and Economic Innovation (with photos)

    Source: Hong Kong Government special administrative region

    Strategic Enterprise KN Group Expands Hong Kong International Business Headquarters, Driving Corporate Globalisation and Economic Innovation  
    The General Manager of KN Group Hong Kong and Global Head of Treasury at KN Group, Mr Lucas Kong stated that the collaboration reflects the company’s decade-long cultivation in AI financial technology and marks a significant milestone in bridging traditional finance services with global capital markets through digital pathways. He added that through the tokenisation of financial assets, KN Group aims to enhance service efficiency and transparency while continuing to drive innovation in the financial sector.
     
         The Executive Director of OASES, Mr Bryan Peng said, “KN Group’s business expansion and innovative development reflect the enterprise’s strong confidence in Hong Kong’s business environment. As outlined in the “Report on Hong Kong’s Business Environment: Unique strength under ‘One Country, Two Systems’” released by the Hong Kong Special Adminitrative Region (HKSAR) Government yesterday, the city is an ideal base for enterprises seeking global growth, and continues to demonstrate robust potential in emerging sectors such as fintech, Web3, artificial intelligence, and green finance. Earlier, the Securities and Futures Commission introduced the newly formulated ‘ASPIRe’ roadmap, and in June, the HKSAR Government issued Policy Statement 2.0 on the Development of Digital Assets in Hong Kong, providing a clear regulatory and development framework for the sector. These initiatives offer a solid foundation for KN Group and AlloyX to advance innovation in the digital asset space.”
     
    OASES is committed to providing one-stop facilitation services for strategic enterprises, facilitating their successful establishment in Hong Kong and fostering deep integration with the local innovation and business ecosystem.
    Issued at HKT 21:10

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Strategic Enterprise KN Group Expands Hong Kong International Business Headquarters, Driving Corporate Globalisation and Economic Innovation (with photos)

    Source: Hong Kong Government special administrative region

    Strategic Enterprise KN Group Expands Hong Kong International Business Headquarters, Driving Corporate Globalisation and Economic Innovation  
    The General Manager of KN Group Hong Kong and Global Head of Treasury at KN Group, Mr Lucas Kong stated that the collaboration reflects the company’s decade-long cultivation in AI financial technology and marks a significant milestone in bridging traditional finance services with global capital markets through digital pathways. He added that through the tokenisation of financial assets, KN Group aims to enhance service efficiency and transparency while continuing to drive innovation in the financial sector.
     
         The Executive Director of OASES, Mr Bryan Peng said, “KN Group’s business expansion and innovative development reflect the enterprise’s strong confidence in Hong Kong’s business environment. As outlined in the “Report on Hong Kong’s Business Environment: Unique strength under ‘One Country, Two Systems’” released by the Hong Kong Special Adminitrative Region (HKSAR) Government yesterday, the city is an ideal base for enterprises seeking global growth, and continues to demonstrate robust potential in emerging sectors such as fintech, Web3, artificial intelligence, and green finance. Earlier, the Securities and Futures Commission introduced the newly formulated ‘ASPIRe’ roadmap, and in June, the HKSAR Government issued Policy Statement 2.0 on the Development of Digital Assets in Hong Kong, providing a clear regulatory and development framework for the sector. These initiatives offer a solid foundation for KN Group and AlloyX to advance innovation in the digital asset space.”
     
    OASES is committed to providing one-stop facilitation services for strategic enterprises, facilitating their successful establishment in Hong Kong and fostering deep integration with the local innovation and business ecosystem.
    Issued at HKT 21:10

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Medical school proposals assessed

    Source: Hong Kong Information Services

    The Task Group on New Medical School convened its fourth meeting today to conduct an overall evaluation of the proposals for the establishment of the third medical school and discuss the next steps for the task group’s work.
     
    The task group is co-chaired by Secretary for Health Prof Lo Chung-mau and Secretary for Education Choi Yuk-lin.
     
    Previously, the task group had in-depth discussions with the three universities that submitted proposals, namely Baptist University, Polytechnic University and the University of Science & Technology. Subsequently, the expert advisors conducted a comprehensive review of the proposals.
     
    Apart from carrying out an overall assessment of the proposals today, the expert advisors also initiated the next phase of follow-up work involving a thorough study of the proposals’ funding arrangements and financial sustainability.
     
    A final recommendation on the establishment of the new medical school is expected to be provided to the Government later this year.
     
    Prof Lo said: “We will consolidate the views of all task group members and submit our recommendation to the Chief Executive as soon as possible.
     
    “The Government will thoroughly consider the task group’s report and announce the results in due course.”
     
    Ms Choi thanked the expert advisors and members of the task group for their efforts and valuable professional input throughout the evaluation process.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Two Senior Executives from S&P and the Global Reporting Initiative (GRI) join the Diginex team

    Source: GlobeNewswire (MIL-OSI)

    LONDON, July 31, 2025 (GLOBE NEWSWIRE) — Diginex Limited (“Diginex” or the “Company”) (NASDAQ: DGNX), a leading provider of Sustainability RegTech solutions, is delighted to announce the appointments of Andrew Harling as Chief Commercial Officer and Matthew Rusk as Vice President of Strategic Relationships, Americas, effective immediately. These key additions to the senior team reinforce Diginex’s commitment to accelerating growth and advancing innovation in sustainability worldwide.

    Andrew Harling joins Diginex’s executive team with over 20 years of experience in commercial leadership within the credit, technology, and sustainability sectors. Most recently, he served as Global Head of Sustainability Sales at S&P, where he drove significant revenue growth by delivering tailored ESG solutions to global enterprises. Prior to that, Harling was Chief Revenue Officer at Sustainable Fitch, where he spearheaded strategic initiatives to expand market share in sustainable finance. As Chief Commercial Officer, Harling will lead Diginex’s global commercial strategy, focusing on scaling client acquisition and driving adoption of the company’s cutting-edge sustainability platforms & solutions.

    Matthew Rusk brings extensive expertise in strategic relationship development and sustainability to his role as Vice President of Partnerships in the U.S. Rusk has over 15 years of experience progressing corporate sustainability, most recently as Head of Global Reporting Initiative (GRI) North America, where he built strong relationships with corporations, financial institutions, service providers, NGOs, and policy makers to advance standardized sustainability reporting. In his new role, Rusk will focus on cultivating strategic alliances with key stakeholders to expand Diginex’s ecosystem and enhance its impact in the US market. Matthew’s experience, connections, and expertise make him an invaluable addition to Diginex’s U.S. leadership.

    “Andrew and Matthew bring exceptional expertise and a shared passion for sustainability that align perfectly with Diginex’s mission to empower organizations with transparent, AI-driven ESG solutions,” said Mark Blick, CEO of Diginex. “Their leadership will be instrumental in strengthening our market position and fostering partnerships that drive meaningful change.”

    About Diginex

    Diginex Limited (Nasdaq: DGNX; ISIN KYG286871044), headquartered in London, is a sustainable RegTech business that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. The Company utilizes blockchain, AI, machine learning and data analysis technology to lead change and increase transparency in corporate regulatory reporting and sustainable finance. Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software. 

    The award-winning diginexESG platform supports 19 global frameworks, including GRI (the “Global Reporting Initiative”), SASB (the “Sustainability Accounting Standards Board”), and TCFD (the “Task Force on Climate-related Financial Disclosures”). Clients benefit from end-to-end support, ranging from materiality assessments and data management to stakeholder engagement, report generation and an ESG Ratings Support Service.

    For more information, please visit the Company’s website:

    https://www.diginex.com/.

    Forward-Looking Statements
    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results disclosed in the Company’s filings with the SEC.

    Diginex
    Investor Relations
    Email: ir@diginex.com

    IR Contact – Europe
    Anna Höffken
    Phone: +49.40.609186.0
    Email: diginex@kirchhoff.de

    IR Contact – US
    Jackson Lin
    Lambert by LLYC
    Phone: +1 (646) 717-4593
    Email: jian.lin@llyc.global

    IR Contact – Asia
    Shelly Cheng
    Strategic Financial Relations Ltd.
    Phone: +852 2864 4857
    Email: sprg_diginex@sprg.com.hk

    The MIL Network –

  • MIL-OSI Asia-Pac: Director General David Cheng-Wei Wu Attends the Opening Ceremony of O-Bank’s Sydney Representative Office

    Source: Republic of China Taiwan

    irector General David Cheng-Wei Wu was honoured to attend the opening ceremony of O-Bank’s Sydney Representative Office, alongside distinguished guests including the Hon. Anthony Roberts MP, the Hon. Rod Roberts MLC, Dr. Hugh McDermott MP, President of the Australia-Taiwan Business Council John Toigo, President of the Taiwanese Chamber of Commerce in Australia Peter Huang, as well as leaders from the Taiwanese banking, business, and community sectors.
    O-Bank President Elton Lee envisions the Sydney Representative Office as a pivotal hub in the bank’s roadmap for global expansion. The bank aims not only to upgrade the office to a full branch but also to establish additional locations across Australia. By collaborating with fellow Taiwanese financial institutions in Australia, O-Bank seeks to deepen financial, trade, and cultural ties between Taiwan and Australia.
    Director General Wu began his remarks by thanking the three members of the New South Wales Parliament for their presence, which demonstrated bipartisan support for the Taiwanese community, the Representative Office, and O-Bank. He noted that, as Taiwan’s first native digital bank, O-Bank’s presence marks the ninth Taiwanese bank in Sydney and the twelfth in Australia — a clear indication of growing financial ties between Taiwan and New South Wales. He further emphasized Taiwan’s active pursuit of membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), with the support of Australia. Taiwan’s inclusion would strengthen supply chain integration among like-minded democracies and generate concrete economic benefits at both bilateral and multilateral levels. In short, the CPTPP will be stronger with Taiwan on board.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: PLA garrison in HK holds reception to celebrate 98th anniv of founding of PLA

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

    The Hong Kong Garrison of the Chinese People’s Liberation Army (PLA) on Wednesday held a reception to celebrate the 98th anniversary of the founding of the PLA at Stonecutters Island Barracks, attended by around 400 people.

    John Lee, chief executive of the Hong Kong Special Administrative Region (HKSAR), Zhou Ji, director of the Liaison Office of the Central People’s Government in the HKSAR, Dong Jingwei, director of the Office for Safeguarding National Security of the Central People’s Government in the HKSAR, Cui Jianchun, commissioner of the Chinese Foreign Ministry in the HKSAR, Peng Jingtang, commander of the Chinese PLA Hong Kong Garrison, Lai Ruxin, political commissar of the PLA Hong Kong Garrison, veterans of the Hong Kong Independent Battalion of the Dongjiang Column, and people from all walks of life in Hong Kong attended the event.

    In his speech, Peng said that over the past 98 years, under the strong leadership of the Communist Party of China (CPC), the PLA have endured the flames of war and made remarkable historical contributions to the party and the people.

    Peng said that this year marks the 80th anniversary of victory in the Chinese People’s War of Resistance against Japanese Aggression and in the World Anti-Fascist War. Led by the CPC, the Hong Kong Independent Battalion of the Dongjiang Column played a vital role in defending Hong Kong and fighting against Japanese invaders, making an important contribution to the global victory over fascism.

    Peng also reviewed the hard work of the PLA garrison in Hong Kong, which has faithfully fulfilled its sacred duty of safeguarding Hong Kong’s long-term prosperity and stability, serving as a vital anchor of security and reassurance.

    MIL OSI China News –

  • MIL-OSI China: Cambodia, Thailand reaffirm commitment to ceasefire agreement at trilateral meeting with China

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

    Cambodia and Thailand reaffirmed to China their commitment to abiding by their ceasefire agreement at an informal trilateral meeting, according to a statement released on the Chinese foreign ministry’s website.

    China, Cambodia and Thailand held the meeting in Shanghai on Wednesday. Chinese Vice Foreign Minister Sun Weidong and representatives of Cambodia and Thailand were in attendance.

    Cambodia and Thailand reaffirmed to China that they will abide by the ceasefire agreement, and expressed their appreciation for the positive role China has played to date in calming down the situation, the statement said.

    It noted that the meeting had a frank, friendly and harmonious atmosphere.

    China has continuously played a constructive role in supporting Cambodia and Thailand in the peaceful resolution of their border disputes, and the Wednesday meeting was China’s latest diplomatic effort in this regard, the statement said.

    Cambodia and Thailand reached a common understanding on an immediate and unconditional ceasefire effective from 24:00 hours (local time) on July 28, 2025, Prime Minister Anwar Ibrahim of Malaysia, rotating chair of ASEAN, said after hosting the leaders of the two countries in Putrajaya, Malaysia.

    The on-site ceasefire situation is relatively fragile, Chinese foreign ministry spokesperson Guo Jiakun said at a regular news briefing on Wednesday, explaining the reason for the trilateral meeting in Shanghai.

    Since conflict broke out on the Cambodia-Thailand border, Chinese Foreign Minister Wang Yi has communicated with his Cambodian and Thai counterparts, as well as the secretary-general of ASEAN, Guo said.

    The Chinese foreign ministry has also maintained close communication with Cambodia and Thailand, dispatched its special envoy for Asian affairs to conduct shuttle diplomacy twice, and sent representatives to attend the meeting between the leaders of Cambodia and Thailand, he said.

    China has no selfish interests in this border conflict, and supports ASEAN in promoting the political settlement of the issue in “the ASEAN way,” he said.

    China is willing to continue to maintain close communication on this issue with Cambodia, Thailand, Malaysia and other regional countries, and to play a constructive role in consolidating the ceasefire agreement and restoring peace and stability as soon as possible, the spokesperson said.

    MIL OSI China News –

  • MIL-OSI China: China’s high-level opening up is powering global growth

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

    An aerial drone photo taken on May 29, 2025 shows cargo ships berthing at a container dock of Qingdao Port in Qingdao, east China’s Shandong province. [Photo/Xinhua]

    China’s approach to substantive, high-quality opening up is proving to be a critical endeavour for a safe and mutually progressive future. This can clearly be seen in a series of high-profile exhibitions and trade fairs held in recent weeks, such as the 3rd China International Supply Chain Expo (CISCE) and the 9th China-South Asia Expo (CSAE). Both events attracted dozens of trade contracts, economic agreements and cutting-edge technology innovations that have produced significant potential for robust global engagement. 

    “China’s policy of attracting foreign investment will not change and the door to openness will only open wider,” said Chinese Commerce Minister Wang Wentao in a recent meeting with Nvidia CEO Jensen Huang. 

    Factor in visa-free entries and multisector offerings for investors, and it is clear that the path to embracing high-quality growth and modernization is promising. Here is how.

    First, the 3rd CISCE is proof that China is bringing proponents of global innovation together. After all, breakthrough innovations spanning industry-specific technologies, new robotics and clean energy applications send a powerful signal that China is willingly opening up more sectors for foreign investors and exhibitors alike. Innovative measures such as a “Debut Zone” at the CISCE provided a melting pot for over 100 internationally competitive products to feature in a market that has a track-record of easing market access – both within and beyond the region. 

    These measures reflect a conscious push from China to create an environment for trading partners conducive to weathering the tide of protectionism, and generating enduring business-to-business linkages. It shows in the rampant increase in investments from major enterprises in China’s cutting-edge technology sector, where the benefit of secure supply chains, firm and dependable government support, strong resilience against external shocks and deep R&D indigenization, affords vital strategic advantages. With heads of notable foreign enterprises making exactly this case this month, and new quality productive forces creating new inroads, it is clear that China is offering to share the dividends of long-term modernization.

    The Regional Comprehensive Economic Partnership (RCEP), long viewed as a fixture of future trade advancement and trade liberalization in the Asia-Pacific, also merits significant confidence. China’s own contribution to bringing together the motivations of RCEP partner countries makes that point clear: The 9th CSAE saw nearly 1.4 billion yuan in new economic agreements, a vital value addition on the back of China’s 4th RCEP Regional (Shandong) Import Commodity Expo. China’s ability to convene a broad range of stakeholders, including the heads of major multinationals, partner group governments, budding entrepreneurs and international suppliers, demonstrates a forward-looking approach to high-standard opening up, and one where the policies undergirding high quality opening – cross-border data governance, streamlined financial support for foreign firms, and robust multisector investments in domestic R&D sectors – are conducive to the future demands of developing and developed economies alike. 

    As China looks to further evolve new quality productive forces and elevate its reforms of management frameworks, these are powerful endorsements of an innovation-focused development model and evidence of China’s stronger global economic integration. 

    China’s visa-free entry measures have also played a meaningful role in propelling trade and travel connectivity when it matters most. The country’s visa-free access now spans dozens of countries, indicating a conscious investment in foreign exposure that has seen foreign entries soar beyond 13.6 million so far this year. Growing overseas receptivity to China creates fresh incentives for spending, in turn revitalizing core consumer industries at home, and enabling domestic and foreign firms to exercise healthy competition for cost-effective and high-quality product offerings. 

    The move also helps bring down transaction costs and generates pathways to setting up new small and medium-sized enterprises through easier market access. It has also helped business participation soar in major trade expos, from the Canton Fair to the CSAE and CISCE. The China-Malaysia mutual visa free agreement, and new pacts spanning Latin American states, further demonstrate China’s deepening collaboration with the Global South – a vital indication to bring down trade barriers and prepare the ground for more inclusive, and growth-receptive economic architecture. 

    Glimmers of that architecture can be seen in China and Latin America’s regular convenings on a shared future, including ministerial level convenings of the China-Community of Latin American and Caribbean States (CELAC) Forum. This is important because major sectors such as renewable energy and digital technology are fast altering the productivity and manufacturing heft of many Latin American states, helping to empower local industries from the ground up. As China deepens its opening up with an eye on bolstering people-to-people exchanges, prospects of future business integration, public-private partnerships and deeper unity within the Global South merit considerable optimism. 

    China plans to enhance its pilot free trade zones by promoting innovative reforms and integrated development, aiming to elevate them into advanced platforms for higher-level openness and stronger reform momentum. Such efforts underline a commitment to bolstering mechanisms for high-quality cooperation under the Belt and Road Initiative, a consolidating factor for many countries taking part in major Chinese expos and trade fairs this year. 

    The China-South Asia Expo – which traces its origins back to 2013, the year of the launch of the Belt and Road Initiative (BRI) – is a case in point. Participating exhibitors can view trade exhibitions as major avenues to promote BRI-linked market access, as the initiative provides a framework for infrastructure financing and allows partner states to promote specialty products, and consider deeper integration into regional supply chains. China’s active promotion of key BRI corridors, including the China-Pakistan Economic Corridor, sends a powerful message that the path to high-standard opening up is driven by a desire to extend modernization benefits to BRI partners overseas. 

    China’s large and open market provides shared opportunities worldwide, and will keep fueling global economic expansion and dynamism. Using new productive forces to inject further resilience, vitality and international outreach in this market is therefore a critical indicator that China is supportive of mutual collaborations and an equitable, growth-friendly future for all.

    Hannan Hussain is co-founder and senior expert at Initiate Futures, an Islamabad-based policy think tank.

    Opinion articles reflect the views of their authors, not necessarily those of China.org.cn.

    MIL OSI China News –

  • MIL-OSI China: Brazil defeat China to reach Men’s VNL Finals semis

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

    Host China lost 3-1 to world No. 4 Brazil in the quarterfinal as the 2025 FIVB Men’s Volleyball Nations League (VNL) Finals kicked off on Wednesday.

    Li Yongzhen (L) of China competes during the match between China and Brazil at the 2025 Volleyball Nations League (VNL) Men’s Finals in Ningbo, east China’s Zhejiang Province, July 30, 2025. (Photo by Suo Xianglu/Xinhua)

    This year’s VNL Finals follow a single-elimination format. China joined the top seven teams from the preliminary round in the fight for the title.

    Brazil, the tournament favorite, finished the preliminary phase with an 11-1 record and had previously swept China 3-0 in the Chicago leg in June.

    China made a strong start, overcoming an early deficit in the first set to win 31-29. Key contributions came from Wen Zihua, Yu Yuantai and Li Yongzhen, with China scoring six blocks – while Brazil did not record any.

    “I’m more than satisfied, I mean I am proud of the team,” said China head coach Vital Heynen. “At the beginning of the VNL, we could not defend, but today we were amazing. I’ve never seen them fighting like today.”

    In the second set, China led 17-14 but then conceded nine consecutive points. Despite calling two timeouts, the team was unable to turn the tables and lost the set 19-25.

    Brazil took control in the third set with a 25-16 win, then sealed the match in the fourth, pulling away late to secure a 25-21 victory. Brazil’s Alan Souza scored a match-high 26 points, while Wen Zihua led China with 15.

    “The only problem is we don’t know how to win,” Heynen admitted. “I see big steps forward, but we have to be very fair that Brazil is many steps in front of us. That is clear, but I go out of the VNL with a very nice feeling. We were fighting and that was the most important. Sport is about giving everything. My guys were giving everything. That’s what I want!”

    Looking ahead to the World Championship in the Philippines starting September 12, Heynen remained optimistic: “We have another seven weeks to get better, and then we’ll see. If we play like this [today] and we lose, I have no problem with anything, because this is the way we have to play.”

    Earlier on Wednesday, Italy defeated Cuba 3-1 to advance to the semifinals. France will face Slovenia and Japan will take on Poland in the remaining quarterfinals on Thursday. 

    MIL OSI China News –

  • MIL-OSI Banking: Korea Urges Collective Action on Corruption at First APEC High-Level Dialogue Incheon, Republic of Korea | 31 July 2025 Issued by the APEC High-Level Dialogue on Anti-Corruption Cooperation Issued by the APEC High-Level Dialogue on Anti-Corruption Cooperation

    Source: APEC – Asia Pacific Economic Cooperation

    At the opening of the first-ever APEC High-Level Dialogue on Anti-Corruption Cooperation (AHDAC), Vice-Chairperson Myung Soon Lee of the Anti-Corruption and Civil Rights Commission (ACRC) of the Republic of Korea called on member economies to treat transparency and accountability as fundamental pillars of economic resilience and sustainable growth.

    “Today, we face an unprecedented situation marked by rising global economic uncertainty, escalating geopolitical tensions and an accelerating pace of technological transformation,” Lee said in his opening remarks. “Against this backdrop, transparency, fairness and accountability are no longer merely optional values; they have become prerequisites for sustainable growth and international cooperation.”

    “Corruption undermines the investment environment, erodes public trust and weakens democratic governance. Moreover, corruption poses a serious obstacle to building the open and innovative economic community that the Asia-Pacific region aspires to build.”

    “The anti-corruption issues discussed at today’s high-level dialogue are not challenges confined to anti-corruption agencies alone,” he said. “They represent shared responsibilities of all stakeholders, including the private sector, to build a trust-based market order, ensure a fair competitive environment and foster a sustainable economic system.”

    He outlined three key priorities for advancing anti-corruption cooperation in APEC: combating cross-border corruption, enhancing private sector integrity and expanding education and training.

    “Corruption is becoming increasingly covert, transcending borders through digital assets, international procurement and complex financial systems,” Lee noted. “It is imperative that we institutionalize international cooperation in investigations, asset recovery and law enforcement mechanisms.”

    On private sector collaboration, Lee called for stronger corporate integrity frameworks and protection for whistleblowers. “Corruption cannot be eradicated solely through government efforts; it requires active engagement and collaboration from the private sector.”

    He also underscored the importance of education in fostering a long-term culture of integrity, citing Korea’s tailored programs for youth, public officials and businesses. “These efforts lay a solid foundation for reducing corruption throughout society and fostering a culture of integrity.”

    Lee urged participants to move from vision to implementation. “Today’s high-level dialogue must not be merely declaratory in nature, but must serve as a platform for identifying actionable tasks. We are living in an era where transparency is a key to competitiveness and integrity drives sustainable growth.”

    Concluding his remarks, he reaffirmed Korea’s commitment to regional cooperation. “The ACRC and the Government of the Republic of Korea stand fully prepared to actively contribute to such international anti-corruption solidarity. Through this dialogue, I hope that APEC will further advance as a regional platform that presents best practices, including those in the area of anti-corruption, to the global community.”

    For more information or media inquiries, please contact:
    [email protected]

    MIL OSI Global Banks –

  • MIL-OSI Banking: APEC Economies Step Up Cooperation on Digital Policy Challenges Incheon, Republic of Korea | 29 July 2025 APEC Digital Economy Steering Group

    Source: APEC – Asia Pacific Economic Cooperation

    APEC member economies have concluded a two-day meeting of the Digital Economy Steering Group in Incheon, Republic of Korea, with renewed momentum to strengthen cross-border collaboration on digital regulation, online safety and sustainability.

    From artificial intelligence (AI) to online scams and environmental impact, the meeting focused on the critical balance between enabling innovation and safeguarding users, particularly vulnerable groups such as women, youth, as well as small businesses.

    “There is growing recognition that growth in the digital economy must go hand in hand with trust, inclusion and responsibility,” said Ichwan Makmur Nasution, Chair of the Digital Economy Steering Group (DESG). “The solutions we’re exploring are not only about technology. They’re about protecting people, building resilience and ensuring no one is left behind.”

    Throughout the meeting, delegates grappled with how to align digital regulations across borders without stifling innovation. Conversations around data privacy, cybersecurity and AI governance reflected the diversity of legal systems and policy approaches in the region, while underscoring a shared urgency to create interoperable, forward-looking digital frameworks.

    One of the central policy dialogues examined how economies can better manage harmful online content, misinformation and abuse. These issues threaten not only individual safety but also social trust and economic participation. The discussion highlighted the disproportionate impact of online harms on women and youth, urging greater investment in digital literacy, user protection and responsible platform governance.

    As part of its forward agenda, the group examined the environmental footprint of AI and digital infrastructure. From growing energy demands to electronic waste, members explored how policy and innovation can work together to reduce the sector’s impact while supporting continued digital growth.

    Ongoing and proposed APEC-funded projects covered a wide range of priorities, from AI policy cooperation and Privacy Enhancing Technologies (PETs) to micro, small and medium enterprises’ access to digital trade.

    “This meeting reinforced the strategic value of DESG as a platform for shared learning and joint action,” said Nasution. “It’s not just about exchanging views. It’s about building alignment where possible and respecting diversity where needed, so that our cooperation continues to deliver real value to people across the APEC region.”

    Held under the APEC 2025 theme “Building a Sustainable Tomorrow,” the DESG meeting was part of the broader Third Senior Officials’ Meeting (SOM3) hosted by Korea. During this meeting cluster, there will be over 30 events related to digital innovation, including at the upcoming APEC Digital Ministerial Meeting and the Global Digital and AI Forum to be held on 4-5 August.

    For further information or media inquiries, please contact:

    [email protected]

    MIL OSI Global Banks –

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for July 31, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on July 31, 2025.

    5 reasons why wind farms are costing more in Australia – and what to do about it
    Source: The Conversation (Au and NZ) – By Magnus Söderberg, Professor and Director, Centre for Applied Energy Economics and Policy Research, Griffith University Saeed Khan/Getty Building a solar farm in Australia is getting about 8% cheaper each year as panel prices fall and technology improves, according to an official new report. Battery storage costs are

    Sporty spice: how romance fiction is adding a new dynamic to sports fandom
    Source: The Conversation (Au and NZ) – By Kasey Symons, Lecturer of Communication, Sports Media, Deakin University Sports fans might love their teams, cheer or curse each game’s result and admire their favourite athletes, but we rarely associate sports with romance. However, that may be slowly changing thanks to the recent spike in the popularity

    Just as NZ began collecting meaningful data on rainbow communities, census changes threaten their visibility
    Source: The Conversation (Au and NZ) – By Lori Leigh, Research Fellow in Public Health, University of Otago Getty Images New Zealand’s 2023 census was the first to collect data on gender identity and sexual orientation, showing one in 20 adults identify as LGBTQIA+. But just as reports from this more inclusive census are being

    Big tech says AI could boost Australia’s economy by $115 billion a year. Does the evidence stack up?
    Source: The Conversation (Au and NZ) – By Uri Gal, Professor in Business Information Systems, University of Sydney Imaginima / Getty Images AI is on the agenda in Canberra. In August, the Productivity Commission will release an interim report on harnessing data and digital technology such as AI “to boost productivity growth, accelerate innovation and

    Progress on Closing the Gap is stagnant or going backwards. Here are 3 things to help fix it
    Source: The Conversation (Au and NZ) – By Madeleine Pugin, Research Fellow, School of Government and International Relations, Griffith University The Productivity Commission’s latest data on Closing the Gap progress represents an unsurprisingly grim overview of the socioeconomic inequalities experienced by Aboriginal and Torres Strait Islander peoples. Closing the Gap is the plan federal and

    More than 2 in 5 young Australians are lonely, our new report shows. This is what could help
    Source: The Conversation (Au and NZ) – By Michelle H. Lim, Associate Professor, Sydney School of Public Health, University of Sydney Oliver Rossi/Getty Images Loneliness is not a word often associated with young people. We tend to think of our youth as a time spent with family, friends and being engaged with school and work

    How migrant business owners turn their identity into an asset, despite some bumps along the way
    Source: The Conversation (Au and NZ) – By Shea X. Fan, Associate Professor, Human Resource Management, Deakin University Odua Images/Shutterstock Too often, it’s anti-immigration sentiment dominating headlines in Australia. But a quieter story is going untold. Migrants are not just fitting into Australian society, they’re actively reshaping it through entrepreneurship. Starting a business is difficult

    The Man from Hong Kong at 50: how the first ever Australian–Hong Kong co-production became a cult classic
    Source: The Conversation (Au and NZ) – By Gregory Ferris, Senior Lecturer, Media Arts & Production, University of Technology Sydney LMPC via Getty Images A cinematic firecracker of a film exploded onto international screens 50 years ago this week, blending martial arts mayhem, Bond-esque set pieces, casual racism – and a distinctly Australian swagger. From

    Rules for calculating climate risk in financial reporting by NZ businesses need revisiting – new research
    Source: The Conversation (Au and NZ) – By Martien Lubberink, Associate Professor of Accounting and Capital, Te Herenga Waka — Victoria University of Wellington Andrew MacDonald/Getty Images The recent International Court of Justice (ICJ) decision on climate action marked a significant step forward in formalising an idea many already accept: climate inaction is not merely

    Climate justice victory at the ICJ – the student journey from USP lectures to The Hague
    By Vahefonua Tupola in Suva The University of the South Pacific (USP) is at the heart of a global legal victory with the International Court of Justice (ICJ) delivering a historic opinion last week affirming that states have binding legal obligations to protect the environment from human-induced greenhouse gas emissions. The case, hailed as a

    Climate justice victory at the ICJ – the student journey from USP lectures to The Hague
    By Vahefonua Tupola in Suva The University of the South Pacific (USP) is at the heart of a global legal victory with the International Court of Justice (ICJ) delivering a historic opinion last week affirming that states have binding legal obligations to protect the environment from human-induced greenhouse gas emissions. The case, hailed as a

    Kamchatka earthquake is among top 10 strongest ever recorded. Here’s what they have in common
    Source: The Conversation (Au and NZ) – By Dee Ninis, Earthquake Scientist, Monash University Today at about 11:30am local time, a magnitude 8.8 earthquake struck off the coast of Russia’s Kamchatka Peninsula in the country’s far east. Originating at a depth of roughly 20 kilometres, today’s powerful earthquake – among the ten strongest in recorded

    Kamchatka earthquake is among top 10 strongest ever recorded. Here’s what they have in common
    Source: The Conversation (Au and NZ) – By Dee Ninis, Earthquake Scientist, Monash University Today at about 11:30am local time, a magnitude 8.8 earthquake struck off the coast of Russia’s Kamchatka Peninsula in the country’s far east. Originating at a depth of roughly 20 kilometres, today’s powerful earthquake – among the ten strongest in recorded

    Tsunami warnings are triggering mass evacuations across the Pacific – even though the waves look small. Here’s why
    Source: The Conversation (Au and NZ) – By Milad Haghani, Associate Professor and Principal Fellow in Urban Risk and Resilience, The University of Melbourne Last night, one of the ten largest earthquakes ever recorded struck Kamchatka, the sparsely populated Russian peninsula facing the Pacific. The magnitude 8.8 quake had its epicentre in the sea just

    NAPLAN is just one test. Here’s what to do if your child’s results were in the bottom bands
    Source: The Conversation (Au and NZ) – By Sally Larsen, Senior Lecturer in Education, University of New England Rawpixel/ Getty Images The latest round of NAPLAN results are out, along with a string of news reports about “students falling behind” and “failing”, and experts sounding the “alarm” about school progress. In March, all Australian students

    Inflation slows again — but is it enough for the Reserve Bank to cut interest rates?
    Source: The Conversation (Au and NZ) – By Stella Huangfu, Associate Professor, School of Economics, University of Sydney Doublelee/Shutterstock Inflation is moving in the right direction, but new figures released today may not be soft enough to trigger a cut in official interest rates in August. The Australian Bureau of Statistics released the June quarter

    With the UK and France moving toward recognising Palestine, will Australia now follow suit?
    Source: The Conversation (Au and NZ) – By Donald Rothwell, Professor of International Law, Australian National University One of the smallest and most exclusive clubs in the world belongs to states. The US Department of State puts the number of independent recognised states at 197, while others count 200. The United Nations, meanwhile, has 193

    With the UK and France moving toward recognising Palestine, will Australia follow suit?
    Source: The Conversation (Au and NZ) – By Donald Rothwell, Professor of International Law, Australian National University One of the smallest and most exclusive clubs in the world belongs to states. The US Department of State puts the number of independent recognised states at 197, while others count 200. The United Nations, meanwhile, has 193

    An underwater observatory keeping the pulse of the Southern Ocean for nearly 30 years yields fresh results
    Source: The Conversation (Au and NZ) – By Christopher Traill, PhD Candidate Southern Ocean biogeochemistry, University of Tasmania Elizabeth Shadwick In a world affected by climate change, the Southern Ocean plays an outsized role. It absorbs up to 40% of the human-caused emissions taken up by the oceans while also being home to some of

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Euronet Worldwide Reports Second Quarter 2025 Financial Results – Highlighted by 13% Operating Income Growth

    Source: GlobeNewswire (MIL-OSI)

    • Digital growth strategy accelerated with the announced acquisition of leading credit card issuing platform
    • Ren signs agreement with top tier United States bank
    • Money Transfer expands digital remittance through Google partnership
    • Money Transfer enters Japanese market with acquisition of Kyodai Remittance
    • Operating margin expansion of 112 basis points

    LEAWOOD, Kan., July 30, 2025 (GLOBE NEWSWIRE) — Euronet (“Euronet” or the “Company”) (NASDAQ: EEFT), a global leader in payments processing and cross-border transactions, announced today second quarter 2025 financial results.

    Euronet reports the following consolidated results for the second quarter 2025 compared with the same period of 2024:

    • Revenues of $1,074.3 million, a 9% increase from $986.2 million (6% increase on a constant currency1 basis).
    • Operating income of $158.6 million, an 18% increase from $134.3 million (13% increase on a constant currency basis).
    • Adjusted EBITDA2 of $206.2 million, a 16% increase  from $178.2 million (11% increase on a constant currency basis).
    • Net income attributable to Euronet of $97.6 million, or $2.27 diluted earnings per share, compared with $83.1 million, or $1.73 diluted earnings per share.
    • Adjusted earnings per share3 of $2.56, a 14% increase from $2.25. 

    See the reconciliation of non-GAAP items in the attached financial schedules.   

    “I’m very pleased with the business’ constant currency operating profit growth of 13% and the margin expansion of 112 basis points—on its own, this is exciting.  But, I’m more excited about our accomplishments to further our digital strategy through the acquisition of a leading credit card issuing platform – CoreCard – and the signing of a Ren agreement with one of the top three banks in the United States. 

    The acquisition of CoreCard fits nicely with our Ren platform. As described in a separate press release, this is not just a credit issuing platform, it’s a platform serving leading brands in the US, processing at scale, tried and tested. This premier product gives us yet more opportunity to go after the $10 billion issuing market where the market growth rates are much stronger outside the United States, which aligns strongly with our global business where more than 75% of our revenues are from outside the United States.  Moreover, another exciting aspect of the issuing business is its margin opportunity, nearing 50 percent.  It’s these kinds of initiatives that have contributed to our 20-year double digit growth rate and will continue to drive future growth – focused on digital payments.  This acquisition is directly in line with our strategy to shift a stronger mix of our business toward the digital economy. 

    Not only did we advance our digital agenda with the credit issuing platform, we just signed an agreement with one of the top three banks in the United States for the deployment of our Ren ATM operating and switching product.  While we have had many successes with Ren outside the US, this is not just the first agreement in the US we’ve signed, but it is with super impressive top-tiered bank – a real testament to the value proposition of Ren”, said Michael J. Brown, Euronet’s Chairman and Chief Executive Officer.

    Segment and Other Results

    The EFT Processing Segment reports the following results for the second quarter 2025 compared with the same period or date in 2024:

    • Revenues of $338.5 million, an 11% increase from $305.4 million (6% increase on a constant currency basis).
    • Operating income of $84.6million, a 6% increase from $79.9 million (1% increase on a constant currency basis).
    • Adjusted EBITDA of $110.6 million, a 5% increase from $105.0 million (no change on a constant currency basis).
    • Total of 57,326 installed ATMs as of June 30, 2025, a 5% increase from 54,736. We operated 56,760 active ATMs as of June 30, 2025, a 5% increase from 54,005 as of June 30, 2024.

    Constant currency revenue, operating income, and adjusted EBITDA growth in the second quarter 2025 was driven by market expansion, growth across most existing markets and the addition of access fees and an increase in interchange fees in certain markets. 

    The epay Segment reports the following results for the Q2 2025 compared with the same period or date in 2024:

    • Revenues of $280.1 million, a 7% increase from $260.9 million (5% increase on a constant currency basis).
    • Operating income of $31.1 million, a 19% increase from $26.2 million (17% increase on a constant currency basis).
    • Adjusted EBITDA of $32.8 million, a 17% increase from $28.0 million (15% increase on a constant currency basis).
    • Transactions of 1,107 million, consistent with prior year.
    • POS terminals of approximately 721,000 as of June 30, 2025, a 3% increase from 703,000.
    • Retailer locations of approximately 354,000 as of June 30, 2025, a 4% increase from 340,000.

    Constant currency revenue growth was driven by continued payments and digital media growth. Operating income and adjusted EBITDA grew faster than revenue, driven by a shift in product mix and effective operating expense management. Transaction growth from payments and digital media was offset by a decrease in low margin mobile transactions in India.

    The Money Transfer Segment reports the following results for the Q2 2025 compared with the same period or date in 2024:

    • Revenues of $457.9 million, a 9% increase from $421.8 million (6% increase on a constant currency basis).
    • Operating income of $65.6 million, a 39% increase from $47.3 million (33% increase on a constant currency basis).
    • Operating margin expansion of 296 basis points
    • Adjusted EBITDA of $71.6 million, a 33% increase from $54.0 million (28% increase on a constant currency basis).
    • Total transactions of 46.1 million, a 4% increase from 44.3 million.
    • Total digital transactions of 5.8 million, a 29% increase from 4.5 million.
    • Network locations of approximately 631,000 as of June 30, 2025, an 8% increase from approximately 586,000.

    Constant currency revenue growth was primarily driven by growth in cross-border transactions, partially offset by a decrease in intra-US transactions. Direct-to-consumer digital transactions grew by 29%, reflecting continued consumer demand for digital products. Operating income and adjusted EBITDA growth outpaced revenue growth due to gross margin expansion and leverage of scale. Additionally, the Money Transfer segment continued to expand both its market footprint through the acquisition of a 60% interest in Kyodai Remittance as well as its industry leading global payments network to now reach 4.1 billion bank accounts, 3.2 billion wallet accounts and 631,000 payment locations.

    Corporate and Other reports $22.7 million of expense for the second quarter 2025 compared with $19.1 million for the second quarter 2024. The increase in corporate expenses is largely from the increase in long-term share-based compensation.

    Balance Sheet and Financial Position
    Unrestricted cash and cash equivalents on hand was $1,329.3 million as of June 30, 2025, compared to $1,393.6 million as of March 31, 2025. Total indebtedness was $2,438.1 million as of June 30, 2025, compared to $2,202.5 million as of March 31, 2025. Availability under the Company’s revolving credit facilities was approximately $884.2 million as of June 30, 2025. 

    The change in net cash is the result of cash generated from operations, working capital fluctuations and share repurchases of $2.3 million shares for $247 million during the second quarter.

    Outlook
    Taking into consideration recent trends in the business and the global economy, the Company anticipates its 2025 adjusted EPS will grow 12% to 16% year-over-year, consistent with its 10- and 20-year compounded annualized growth rates. This outlook does not include any changes that may develop in foreign exchange rates, interest rates or other unforeseen factors.

    Non-GAAP Measures
    In addition to the results presented in accordance with U.S. GAAP, the Company presents non-GAAP financial measures, such as constant currency financial measures, operating income, adjusted EBITDA, and adjusted earnings per share. These measures should be used in addition to, and not a substitute for, revenues, operating income, net income and earnings per share computed in accordance with U.S. GAAP. We believe that these non-GAAP measures provide useful information to investors regarding the Company’s performance and overall results of operations. These non-GAAP measures are also an integral part of the Company’s internal reporting and performance assessment for executives and senior management. The non-GAAP measures used by the Company may not be comparable to similarly titled non-GAAP measures used by other companies. The attached schedules provide a full reconciliation of these non-GAAP financial measures to their most directly comparable U.S. GAAP financial measure.

    The Company does not provide a reconciliation of its forward-looking non-GAAP measures to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for GAAP and the related GAAP and non-GAAP reconciliation, including adjustments that would be necessary for foreign currency exchange rate fluctuations and other charges reflected in the Company’s reconciliation of historic numbers, the amount of which, based on historical experience, could be significant.  

    (1) Constant currency financial measures are computed as if foreign currency exchange rates did not change from the prior period. This information is provided to illustrate the impact of changes in foreign currency exchange rates on the Company’s results when compared to the prior period.

    (2) Adjusted EBITDA is defined as net income excluding, to the extent incurred in the period, interest expense, income tax expense, depreciation, amortization, share-based compensation and other non-cash purchase accounting adjustments, non-operating or non-recurring items that are considered expenses or income under U.S. GAAP. Adjusted EBITDA represents a performance measure and is not intended to represent a liquidity measure.

    (3) Adjusted earnings per share is defined as diluted U.S. GAAP earnings per share excluding, to the extent incurred in the period, the tax-effected impacts of: a) foreign currency exchange gains or losses, b) share-based compensation, c) acquired intangible asset amortization, d) non-cash income tax expense, e) non-cash investment gain f) other non-operating or non-recurring items and g) dilutive shares relate to the Company’s convertible bonds. Adjusted earnings per share represent a performance measure and is not intended to represent a liquidity measure. 

    Conference Call and Slide Presentation
    Euronet Worldwide will host an analyst conference call on July 31, 2025, at 9:00 a.m. Eastern Time to discuss these results. The call may also include discussion of Company developments on the Company’s operations, forward-looking information, and other material information about business and financial matters. The conference call and accompanying slide show presentation will be accessible via webcast by following the link posted on http://ir.euronetworldwide.com.  Participants wanting to access the conference call by telephone should dial (800)715-9871 (USA) or (646)307-1963 (international).

    A webcast replay will be available beginning approximately one hour after the event at http://ir.euronet worldwide.com and will remain available for one year.

    About Euronet Worldwide, Inc.
    A global leader in payments processing and cross-border transactions, Euronet moves money in all the ways consumers and businesses depend upon. This includes money transfers, credit/debit processing, ATMs, point-of-sale services, branded payments, currency exchange and more. With products and services in more than 200 countries and territories provided through its own brand and branded business segments, Euronet and its financial technologies and networks make participation in the global economy easier, faster and more secure for everyone. Visit the company’s website at www.euronetworldwide.com.

    Starting in Central Europe in 1994, Euronet now supports an extensive global real-time digital and cash payments network that includes 57,326 installed ATMs, approximately 1.2 million EFT point-of-sale terminals and a growing portfolio of outsourced debit and credit card services which are under management in 69 countries; card software solutions; a prepaid processing network of approximately 721,000 point-of-sale terminals at approximately 354,000 retailer locations in 64 countries; and a global money transfer network of approximately 631,000 locations serving 200 countries and territories with digital connections to 4.1 billion bank accounts, 3.2 billion digital wallet accounts and 4.0 billion Visa debit cards through Visa Direct payments. Euronet serves clients from its corporate headquarters in Leawood, Kansas, USA, and 67 worldwide offices. For more information, please visit the company’s website at www.euronetworldwide.com.

    Cautionary Statement Regarding Forward-Looking Statements
    This communication contains “forward-looking statements” within the United States Private Securities Litigation Reform Act of 1995. You can identify these statements and other forward-looking statements in this document by words such as “may,” “will,” “should,” “can,” “could,” “anticipate,” “estimate,” “expect,” “predict,” “project,” “future,” “potential,” “intend,” “plan,” “assume,” “believe,” “forecast,” “look,” “build,” “focus,” “create,” “work,” “continue,” “target,” “poised,” “advance,” “drive,” “aim,” “forecast,” “approach,” “seek,” “schedule,” “position,” “pursue,” “progress,” “budget,” “outlook,” “trend,” “guidance,” “commit,” “on track,” “objective,” “goal,” “strategy,” “opportunity,” “ambitions,” “aspire” and similar expressions, and variations or negative of such terms or other variations thereof. Words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. 

    Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such statements regarding the transactions contemplated by the Agreement and Plan of Merger (the “Merger Agreement’), dated as of July 30, 2025, by and among CoreCard, Euronet and Genesis Merger Sub Inc. (the “Transaction”), including the expected timing of the closing of the Transaction; future financial and operating results; benefits and synergies of the Transaction; future opportunities for the combined company; the conversion of equity interests contemplated by the Merger Agreement; the issuance of common stock of Euronet contemplated by the Merger Agreement; the expected filing by Euronet with the SEC of the Registration Statement and the proxy statement/prospectus; the ability of the parties to complete the proposed Transaction considering the various closing conditions and any other statements about future expectations that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such forward-looking statements are based upon current plans, estimates, expectations and ambitions that are subject to risks, uncertainties and assumptions, many of which are beyond the control of Euronet and CoreCard, that could cause actual results to differ materially from those expressed in such forward-looking statements. Key factors that could cause actual results to differ materially include, but are not limited to, the expected timing and likelihood of completion of the Transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the Transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement; the possibility that CoreCard’s shareholders may not approve the Transaction; the risk that the parties may not be able to satisfy the conditions to the Transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the Transaction; the risk that any announcements relating to the Transaction could have adverse effects on the market price of Euronet’s common stock; the risk that the Transaction and its announcement could have an adverse effect on the parties’ business relationships and business generally, including the ability of CoreCard or Euronet to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers, and on their operating results and businesses generally; the risk of unforeseen or unknown liabilities; customer, shareholder, regulatory and other stakeholder approvals and support; the risk of potential litigation relating to the Transaction that could be instituted against CoreCard or its directors and/or officers; the risk associated with third party contracts containing material consent, anti-assignment, transfer or other provisions that may be related to the Transaction which are not waived or otherwise satisfactorily resolved; the risk of rating agency actions and Euronet’s ability to access short- and long-term debt markets on a timely and affordable basis; the risk of various events that could disrupt operations, including: conditions in world financial markets and general economic conditions; inflation; the war in Ukraine and the related economic sanctions; and military conflicts in the Middle East.

    These risks, as well as other risks related to the proposed Transaction, will be described in the Registration Statement that will be filed with the SEC in connection with the proposed Transaction. While the list of factors presented here and the list of factors to be presented in the Registration Statement are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Additional factors that may affect future results are contained in each company’s filings with the SEC, including each company’s most recent Annual Report on Form 10-K, as it may be updated from time to time by quarterly reports on Form 10-Q and current reports on Form 8-K, all of which are available at the SEC’s website http://www.sec.gov. Euronet regularly posts important information to the investor relations section of its website. Any forward-looking statements made in this release speak only as of the date of this release. Except as may be required by law, neither Euronet nor CoreCard intends to update these forward-looking statements and undertakes no duty to any person to provide any such update under any circumstances.

    Important Information for Investors and Stockholders
    In connection with the proposed transaction, Euronet plans to file with the SEC a registration statement on Form S-4 (the “Registration Statement”), which will include a proxy statement of CoreCard that also constitutes a prospectus of Euronet, and any other documents in connection with the transaction. After the Registration Statement has been declared effective by the SEC, the definitive proxy statement/prospectus will be sent to the holders of common stock of CoreCard. INVESTORS AND SHAREHOLDERS OF CORECARD AND EURONET ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT EURONET, CORECARD, THE TRANSACTION AND RELATED MATTERS. The registration statement and proxy statement/prospectus and other documents filed by Euronet or CoreCard with the SEC, when filed, will be available free of charge at the SEC’s website at www.sec.gov. Alternatively, investors and stockholders may obtain free copies of documents that are filed or will be filed with the SEC by Euronet, including the registration statement and the proxy statement/prospectus, on Euronet’s website at https://ir.euronetworldwide.com/for-investors, and may obtain free copies of documents that are filed or will be filed with the SEC by CoreCard, including the proxy statement/prospectus, on CoreCard’s website at https://investors.CoreCard.com/. The information included on, or accessible through, Euronet’s or CoreCard’s website is not incorporated by reference into this press release.

    No Offer or Solicitation
    This press release is not intended to and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to appropriate registration or qualification under the securities laws of such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

    Participants in the Solicitation
    Euronet and CoreCard and their respective directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies from CoreCard’s shareholders in connection with the proposed Transaction. A description of participants’ direct or indirect interests, by security holdings or otherwise, will be included in the proxy statement/prospectus relating to the proposed Transaction when it is filed with the SEC. Information regarding Euronet’s directors and executive officers is contained in the definitive proxy statement, dated April 4, 2025, for its 2025 annual meeting of stockholders, and in Euronet’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Information regarding CoreCard’s directors and executive officers is contained in CoreCard’s definitive proxy statement, dated April 14, 2025, for its 2025 annual meeting of shareholders, and CoreCard’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Additional information regarding ownership of Euronet’s securities by its directors and executive officers, and of ownership of CoreCard’s securities by its directors and executive officers, is included in each such person’s SEC filings on Forms 3 and 4. These documents and the other SEC filings described in this paragraph may be obtained free of charge as described above under the heading “Important Information for Investors and Stockholders.”

     EURONET WORLDWIDE, INC.
     Condensed Consolidated Balance Sheets
     (in millions)
      As of    
      June 30,   As of
      2025   December 31,
      (unaudited)   2024
    ASSETS          
    Current assets:          
    Cash and cash equivalents $ 1,329.3   $ 1,278.8
    ATM cash   937.4     643.8
    Restricted cash   40.3     9.2
    Settlement assets   1,547.1     1,522.7
    Trade accounts receivable, net   328.4     284.9
    Prepaid expenses and other current assets   353.8     297.1
    Total current assets   4,536.3     4,036.5
               
    Property and equipment, net   365.0     329.7
    Right of use lease asset, net   152.5     132.1
    Goodwill and acquired intangible assets, net   1,160.4     1,048.1
    Other assets, net   340.7     288.1
    Total assets $ 6,554.9   $ 5,834.5
               
    LIABILITIES AND EQUITY          
    Current liabilities:          
    Settlement obligations $ 1,547.1   $ 1,522.7
    Accounts payable and other current liabilities   898.3     842.3
    Current portion of operating lease obligations   55.0     48.3
    Short-term debt obligations   1,434.8     812.7
    Total current liabilities   3,935.2     3,226.0
               
    Debt obligations, net of current portion   1,002.3     1,134.4
    Operating lease obligations, net of current portion   100.8     87.4
    Capital lease obligations, net of current portion   1.0     1.4
    Deferred income taxes   64.4     71.8
    Other long-term liabilities   87.8     84.3
    Total liabilities   5,191.5     4,605.3
    Total equity   1,363.4     1,229.2
    Total liabilities and equity $ 6,554.9   $ 5,834.5
     EURONET WORLDWIDE, INC.
     Consolidated Statements of Operations
     (unaudited – in millions, except share and per share data)
       Three Months Ended
       June 30,
      2025     2024  
    Revenues $ 1,074.3     $ 986.2  
               
    Operating expenses:          
    Direct operating costs, exclusive of depreciation   620.6       580.8  
    Salaries and benefits   173.5       158.0  
    Selling, general and administrative   87.8       79.4  
    Depreciation and amortization   33.8       33.7  
    Total operating expenses   915.7       851.9  
    Operating income   158.6       134.3  
               
    Other income (expense):          
    Interest income   6.2       5.9  
    Interest expense   (28.2 )     (20.1 )
    Foreign currency exchange loss, net   (5.7 )     1.5  
    Other income   0.4       0.8  
    Total other expense, net   (27.3 )     (11.9 )
    Income before income taxes   131.3       122.4  
               
    Income tax expense   (33.6 )     (39.2 )
    Net income   97.7       83.2  
    Net loss attributable to noncontrolling interests   (0.1 )     (0.1 )
    Net income attributable to Euronet Worldwide, Inc. $ 97.6     $ 83.1  
    Add: Interest expense from assumed conversion of convertible notes, net of tax   0.1       1.0  
    Net income for diluted earnings per share calculation $ 97.7     $ 84.1  
    Earnings per share attributable to Euronet          
    Worldwide, Inc. stockholders – diluted $ 2.27     $ 1.73  
               
    Diluted weighted average shares outstanding   42,954,631       48,700,270  
     EURONET WORLDWIDE, INC.
    Reconciliation of Net Income to Operating Income (Expense) to Operating Income (Expense) and Adjusted EBITDA
     (unaudited – in millions)

    .

      Three months ended June 30, 2025
      EFT
    Processing    		 epay Money
    Transfer    		 Corporate
    Services    		 Consolidated
    Net income                         $ 97.7
    Add: Income tax expense                           33.6
    Add: Total other expense, net                           27.3
    Operating income (expense) $ 84.6   $ 31.1   $ 65.6   $ (22.7 )   $ 158.6
    Add: Depreciation and amortization   26.0     1.7     6.0     0.1       33.8
    Add: Share-based compensation   —     —     —     13.8       13.8
    Earnings before interest, taxes, depreciation, amortization, share-based
    compensation (Adjusted EBITDA)    		 $ 110.6   $ 32.8   $ 71.6   $ (8.8 )   $ 206.2

    .

      Three months ended June 30, 2024
      EFT
    Processing    		 epay Money
    Transfer    		 Corporate
    Services    		 Consolidated
    Net income                         $ 83.2
    Add: Income tax expense                           39.2
    Add: Total other expense, net                           11.9
    Operating income (expense) $ 79.9   $ 26.2   $ 47.3   $ (19.1 )   $ 134.3
    Add: Depreciation and amortization   25.1     1.8     6.7     0.1       33.7
    Add: Share-based compensation   —     —     —     10.2       10.2
    Earnings before interest, taxes, depreciation, amortization, share-based
    compensation (Adjusted EBITDA) (1)    		 $ 105.0   $ 28.0   $ 54.0   $ (8.8 )   $ 178.2


    (1)     Adjusted EBITDA is a non-GAAP measure that should be considered in addition to, and not a substitute for, net income computed in accordance with U.S. GAAP.

     EURONET WORLDWIDE, INC.
     Reconciliation of Adjusted Earnings per Share
     (unaudited – in millions, except share and per share data)
     
      Three Months Ended
      June 30,
      2025     2024  
    Net income attributable to Euronet Worldwide, Inc. $ 97.6     $ 83.1  
    Foreign currency exchange loss (gain)   5.7       (1.5 )
    Intangible asset amortization (1)   4.7       6.5  
    Share-based compensation (2)   13.8       10.2  
    Income tax effect of above adjustments (3)   (13.7 )     4.3  
    Non-cash investment gain (4)   (0.4 )     —  
    Non-cash GAAP tax expense (5)   3.0       1.9  
    Adjusted earnings (6) $ 110.7     $ 104.5  
    Adjusted earnings per share – diluted (6) $ 2.56     $ 2.25  
    Diluted weighted average shares outstanding (GAAP)   42,954,631       48,700,270  
    Effect of adjusted EPS dilution of convertible notes   (176,123 )     (2,781,818 )
    Effect of unrecognized share-based compensation on diluted shares
    outstanding    		   406,912       420,305  
    Adjusted diluted weighted average shares outstanding   43,185,420       46,338,757  

    (1) Intangible asset amortization of $4.7 million and $6.5 million are included in depreciation and amortization expense of $33.8 million and $33.7 million for both the three months ended June 30, 2025 and June 30, 2024, in the consolidated statements of operations.

    (2) Share-based compensation of $13.8 million and $10.2 million are included in salaries and benefits expense of $173.5 million and $158.0 million for the three months ended June 30, 2025 and June 30, 2024, respectively, in the consolidated statements of operations.

    (3) Adjustment is the aggregate U.S. GAAP income tax effect on the preceding adjustments determined by applying the applicable statutory U.S. federal, state and/or foreign income tax rates. 

    (4) Non-cash investment gain of $0.4 million is included in other income in the consolidated statement of operations.

    (5) Adjustment is the non-cash GAAP tax impact recognized on certain items such as the utilization of certain material net deferred tax assets and amortization of indefinite-lived intangible assets.

    (6) Adjusted earnings and adjusted earnings per share are non-GAAP measures that should be considered in addition to, and not as a substitute for, net income and earnings per share computed in accordance with U.S. GAAP. 

    The MIL Network –

  • MIL-OSI China: Int’l conference on two-state solution concludes general debate at UN

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

    The high-level international conference for the peaceful settlement of the question of Palestine and the implementation of the two-state solution concluded its general debate on Wednesday.

    An outcome document was circulated to delegations for consideration, and the conference, co-chaired by France and Saudi Arabia, will reconvene at a later date to take action on the text of the document.

    “States have until the beginning of September to endorse the document if they so wish,” said the representative of Saudi Arabia as he suspended the session.

    The three-day conference, mandated by the UN General Assembly in December 2024, was originally scheduled for June but was postponed following the outbreak of the conflict between Iran and Israel.

    Several countries have announced their intention to recognize the State of Palestine, including Britain and Singapore.

    The representative of Malta said at the conference on Wednesday that his country could formally recognize the State of Palestine at the upcoming UN General Assembly session in September, describing the decision as “a concrete step towards the realization of a just and lasting peace.”

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Property owner fined over $60,000 for not complying with removal order

    Source: Hong Kong Government special administrative region

    ​An owner was convicted and fined $66,830 in total, of which $46,830 was the fine for the number of days that the offence continued at the Kowloon City Magistrates’ Courts yesterday (July 30) for failing to comply with a removal order issued under the Buildings Ordinance (BO) (Cap 123). 

    The case involved unauthorised building works (UBWs) in a unit of a residential building at Tai Kok Tsui Road, including the erection of a structure of about 90 square metres on the flat roof, and the installation of three metal gates obstructing the means of escape. As the UBWs were carried out without prior approval and consent from the Buildings Department (BD), a removal order was served on the owner under section 24(1) of the BO. Failure to comply with the removal order, the owner was prosecuted by the BD.

    A spokesman for the BD said today (July 31), “Unauthorised building works may lead to serious consequences. Owners must comply with removal orders without delay. The BD will continue to take enforcement action against owners who fail to comply with removal orders, including instigation of prosecution, to ensure building and public safety.”

    Failure to comply with a removal order without reasonable excuse is a serious offence under the BO. The maximum penalty upon conviction is a fine of $200,000 and one year’s imprisonment, and a further fine of $20,000 for each day that the offence continues.

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: New Development Bank and SANRAL sign ZAR7 billion loan agreement for South Africa Roads Infrastructure

    Source: New Development Bank

    Johannesburg, South Africa – on July 22, 2025, The New Development Bank (NDB) and the South African National Roads Agency Soc Limited (SANRAL) have today signed a landmark loan agreement worth ZAR7 billion to finance the rehabilitation and expansion of key national road segments. This strategic partnership reflects a shared commitment to modernizing South Africa’s transport infrastructure, reducing logistics costs, and boosting economic growth.

    The loan agreement will fund critical upgrades including the widening of highways, rehabilitation of bridges, and improvement of intersections along major freight corridors. These infrastructure enhancements are expected to significantly reduce travel times, improve road safety, and facilitate smoother movement of goods and people across the country.

    To optimise financial efficiency, the loan is denominated in South African Rand (ZAR), which helps reduce debt financing charges by mitigating currency risk and aligning repayment obligations with local revenue streams.

    South Africa’s transport sector plays a vital role in the national economy, and efficient road networks are essential for supporting trade, tourism, and job creation. By investing in the modernization of its road infrastructure, SANRAL aims to lower transportation costs for the majority of road users in South Africa, enhance connectivity between urban and rural areas, and stimulate inclusive economic development.

    This financing aligns with the New Development Bank’s mission to support sustainable infrastructure projects that foster regional integration and economic resilience. As Mr. Monale Ratsoma, Chief Financial Officer, explained, “This loan agreement with SANRAL demonstrates the New Development Bank’s commitment to partnering with South Africa in building resilient and efficient infrastructure that drives economic transformation. We are proud to support projects that will improve the quality of life for millions of South Africans.”

    From SANRAL’s perspective, Reginald Demana, Chief Executive Officer, emphasised, “The investment from the New Development Bank is a vital step towards upgrading our national road network. It will enable us to deliver safer, more reliable roads that underpin economic growth and social development.

    The signing ceremony took place in Johannesburg at NDB’s Africa Regional Office and was attended by senior officials from both organisations, highlighting the strong cooperation between the New Development Bank and South African government agencies.
    Background Information

    New Development Bank

    NDB was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.

    For more information on NDB, please visit www.ndb.int

    South African National Roads Agency LTD

    The South African National Roads Agency (SANRAL) is an independent, statutory company. South Africa’s Ministry of Transport is the sole shareholder and owner of SANRAL. Its mandate focuses on building and maintaining roads to enhance connectivity and development in South Africa.

    MIL OSI Economics –

  • MIL-OSI Banking: Money Market Operations as on July 30, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,95,643.06 5.34 1.00-6.30
         I. Call Money 20,087.24 5.37 4.75-5.42
         II. Triparty Repo 3,97,447.20 5.33 5.25-5.63
         III. Market Repo 1,75,488.07 5.35 1.00-5.65
         IV. Repo in Corporate Bond 2,620.55 5.49 5.35-6.30
    B. Term Segment      
         I. Notice Money** 84.75 5.24 5.00-5.35
         II. Term Money@@ 372.50 – 5.10-5.75
         III. Triparty Repo 2,755.00 5.48 5.45-5.50
         IV. Market Repo 68.81 5.50 5.50-5.50
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Wed, 30/07/2025 1 Thu, 31/07/2025 1,408.00 5.75
    4. SDFΔ# Wed, 30/07/2025 1 Thu, 31/07/2025 94,716.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -93,308.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Tue, 29/07/2025 3 Fri, 01/08/2025 46,058.00 5.49
      Fri, 25/07/2025 7 Fri, 01/08/2025 1,25,008.00 5.49
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       10,299.21  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -1,60,766.79  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -2,54,074.79  
    G. Cash Reserves Position of Scheduled Commercial Banks          
         (i) Cash balances with RBI as on July 30, 2025 9,72,816.78  
         (ii) Average daily cash reserve requirement for the fortnight ending August 08, 2025 9,56,146.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ July 30, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on July 11, 2025 5,38,578.00  

    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).

    – Not Applicable / No Transaction.

    ** Relates to uncollateralized transactions of 2 to 14 days tenor.

    @@ Relates to uncollateralized transactions of 15 days to one year tenor.

    $ Includes refinance facilities extended by RBI.

    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/811

    MIL OSI Global Banks –

  • MIL-OSI China: PLA garrison in Hong Kong holds reception to celebrate 98th anniversary of founding of PLA 2025-07-31 11:04:44 The Hong Kong Garrison of the Chinese People’s Liberation Army (PLA) on Wednesday held a reception to celebrate the 98th anniversary of the founding of the PLA at Stonecutters Island Barracks, attended by around 400 people.

    Source: People’s Republic of China – Ministry of National Defense

      HONG KONG, July 30 (Xinhua) — The Hong Kong Garrison of the Chinese People’s Liberation Army (PLA) on Wednesday held a reception to celebrate the 98th anniversary of the founding of the PLA at Stonecutters Island Barracks, attended by around 400 people.

      John Lee, chief executive of the Hong Kong Special Administrative Region (HKSAR), Zhou Ji, director of the Liaison Office of the Central People’s Government in the HKSAR, Dong Jingwei, director of the Office for Safeguarding National Security of the Central People’s Government in the HKSAR, Cui Jianchun, commissioner of the Chinese Foreign Ministry in the HKSAR, Peng Jingtang, commander of the Chinese PLA Hong Kong Garrison, Lai Ruxin, political commissar of the PLA Hong Kong Garrison, veterans of the Hong Kong Independent Battalion of the Dongjiang Column, and people from all walks of life in Hong Kong attended the event.

      In his speech, Peng said that over the past 98 years, under the strong leadership of the Communist Party of China (CPC), the PLA have endured the flames of war and made remarkable historical contributions to the party and the people.

      Peng said that this year marks the 80th anniversary of victory in the Chinese People’s War of Resistance against Japanese Aggression and in the World Anti-Fascist War. Led by the CPC, the Hong Kong Independent Battalion of the Dongjiang Column played a vital role in defending Hong Kong and fighting against Japanese invaders, making an important contribution to the global victory over fascism.

      Peng also reviewed the hard work of the PLA garrison in Hong Kong, which has faithfully fulfilled its sacred duty of safeguarding Hong Kong’s long-term prosperity and stability, serving as a vital anchor of security and reassurance. 

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    MIL OSI China News –

  • MIL-OSI China: Hainan policy to boost investor appeal

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

    Customs operations at the Hainan Free Trade Port, which will be completely independent island-wide from mid-December, are expected to strengthen the port’s connectivity with Asia-Pacific economies and boost its appeal to global investors, said market watchers and business leaders.

    They said that the move, which follows a policy announcement by the government earlier this month, would elevate Hainan’s strategic position in international trade and economic relations, enabling the island to serve as a unique platform for global business cooperation, particularly in sectors seeking closer integration with international markets.

    The policy envisages the establishment of a designated area, under the special supervision of Customs authorities, that covers the whole island of Hainan.

    Yu Tao, a researcher at the National Institute for South China Sea Studies in Haikou, Hainan province, said the island-wide independent Customs operation will preserve the Hainan FTP’s close economic ties with the Chinese mainland and support the development of a unified national market.

    Building a unified national market is essential to unleashing domestic demand, facilitating the efficient flow of goods and factors, improving resource allocation and fully harnessing the market’s industrial and demand advantages, according to information released by the Research Office of the State Council.

    In addition, the newly released negative list clearly defines, for the first time, the full scope of goods and items subject to import and export restrictions in the Hainan FTP, said Yu.

    “Based on favorable policies, the list offers clearer regulatory guidance for businesses and enhances trade liberalization and facilitation through more relaxed administrative measures,” he added.

    Zhou Mi, a researcher at the Beijing-based Chinese Academy of International Trade and Economic Cooperation, expressed a similar view.

    “The policy’s appeal goes beyond consumer-facing imports and is expected to drive a broader restructuring of manufacturing across the Asia-Pacific region, fostering a trade environment distinct from existing frameworks,” he said.

    Zhou said Hainan will become a more attractive destination for investment and industrial development, significantly lowering operating costs for businesses in the Asia-Pacific region.

    For instance, the scope of zero-tariff goods will expand from the current 1,900 tariff lines to about 6,600, covering about 74 percent of all tariff lines — an increase of nearly 53 percentage points compared with the level before the policy’s implementation at the end of this year, said the Ministry of Finance.

    Zhou noted that the intensified market competition may prompt adjustments or relocations in traditional industries such as manufacturing, biomedicine, duty-free retail and hospitality, potentially changing the existing income structure of local residents.

    The actual utilization of foreign capital in Hainan reached 102.5 billion yuan ($14.3 billion) over the past five years, with an average annual growth rate of 14.6 percent. Meanwhile, its offshore duty-free sales have grown rapidly, accounting for over 8 percent of the global duty-free market, data from the Hainan provincial government showed.

    With China creating more favorable conditions to drive the opening-up in the Hainan FTP, DFS Group, a part of French multinational LVMH Group, and Shanghai-based Shenya Group will jointly build a mega luxury retail complex in Sanya, Hainan.

    Scheduled for completion in 2026, this project is expected to generate more than 1,000 jobs and spur the development of related businesses, including infrastructure, logistics, and hotel and catering services in the Hainan FTP, said Nancy Liu, president of DFS China.

    She said the project is expected to attract between 16 million and 18 million visitors yearly by 2030 and create lucrative commercial opportunities for Sanya.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Appointments to Cantonese Opera Development Fund Advisory Committee

    Source: Hong Kong Government special administrative region

    Appointments to Cantonese Opera Development Fund Advisory Committee
    Mr Maurice Lee Wai-man (Chairman)
    Dr Lee Siu-yan (Vice-Chairman)
    Mr Au Yick-ho *
    Mr Chan Kin-bun *
    Dr Benjamin Chan Tak-yuen
    Ms Emily Chan Wing-yee *
    Mr Andrew Fung Hau-chung
    Mr Kenny Ho Chi-wa
    Mr Lai Yiu-wai
    Ms Lam Yan-yin (Lam Kwan-ling)
    Ms Angel Leung Sum-yee *
    Mr Li Qiuyuan *
    Ms Ng Man-ting
    Mr Wilfred Ng Sau-kei
    Mr Jonathan Ng Yee
    Professor Lui Yu-hon (Chairman of the Cantonese Opera Advisory Committee)
    Representative of the Secretary for Culture, Sports and Tourism
    Representative of the Secretary for Education
    Representative of the Director of Leisure and Cultural ServicesIssued at HKT 12:00

    NNNN

    MIL OSI Asia Pacific News –

  • US President Trump confirms India-US trade talks continue despite 25 per cent tariff threat

    Source: Government of India

    Source: Government of India (4)

    President Donald Trump has said that India and the US were still negotiating a trade deal despite his threat to impose a 25 per cent tariff, and a final decision may be known by the end of the week.

    “We’re talking to India now, we’ll see what happens,” he said on Wednesday, hours after he had threatened the 25 per cent tariffs and the 100 per cent penalty for buyers of Russian energy he had proposed. He said that India, which he asserted has one of the highest tariffs in the world, was now “willing to cut it very substantially.”

    However, he was silent on the Russian penalty when asked by a reporter and instead spoke of the 10 per cent penalty he had proposed for BRICS members.

    Since he says negotiations are continuing, the morning threat appears to be a negotiating ploy and gives both countries wiggle room to reach an accord. He has also not issued a formal letter on the tariffs.

    India had replied defiantly to the threat, saying the government “will take all steps necessary to secure our national interest.” India indicated that agriculture was likely a sticking point in the negotiations.

    The statement said, “The government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs (Micro, Small, and Medium Enterprises).” The US wants India to open its markets to US agriculture and dairy, which could impact its vast agriculture sector.

    Trump and his officials, like Commerce Secretary Howard Lutnick, had spoken optimistically that India would be among the first to make a deal, but it hasn’t materialised. India was among the first countries to start trade negotiations with Washington on tariffs, and Trump had repeatedly said that an agreement was imminent, most recently last week.

    The negotiations were making fantastic progress, India’s Commerce Minister Piyush Goyal said last week in a media interview in London. “I do hope we’ll be able to conclude a very consequential partnership,” he said.

    In its response, India’s Commerce Ministry said, “India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months.”

    “We remain committed to that objective,” it added. Speaking to reporters at the White House, Trump called Prime Minister Narendra Modi “a friend of mine,” as he usually prefaces differences on tariffs.

    He said, nonchalantly, “It doesn’t matter too much whether we have a deal or whether we charge them a certain tariff, but you’ll know at the end of this week.”

    He repeated his tirade about India’s high tariffs, saying that while the US buys a lot from India, the US doesn’t sell as much there because of the tariffs. India had the highest or one of the highest tariffs in the world, with levies going as high as 175 per cent, he said.

    When a reporter asked him about the penalty for buying Russian energy, he did not answer that and, instead, veered off into talking about BRICS and how it was “anti-United States.” “India is a member of that, if you can believe it,” he said.

    “It’s an attack on the dollar, and we’re not going to let anybody attack the dollar,” he said. So, when it comes to India, he said, “It’s partially BRICS, and it’s partially the trade.”

    In the Truth Social post, Trump had said India has “always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine.”

    “All things not good! India will therefore be paying a tariff of 25 per cent, plus a penalty for the above, starting on August first,” he wrote, capitalising parts of the post in his style. (IANS)

  • Will take all necessary steps to safeguard national interest: India responds to Trump’s statement on bilateral trade

    Source: Government of India

    Source: Government of India (4)

    The Government of India has taken note of a recent statement by the US President concerning bilateral trade and is currently studying its implications.

    Over the past few months, India and the United States have been engaged in negotiations aimed at concluding a fair, balanced, and mutually beneficial bilateral trade agreement. The government has reiterated its commitment to achieving this objective.

    Emphasizing its priorities, the government said that it attaches the utmost importance to protecting and promoting the welfare of farmers, entrepreneurs, and Micro, Small and Medium Enterprises (MSMEs).

    It further added that all necessary steps will be taken to secure the country’s national interest, as has been the case with other trade agreements, including the recently concluded Comprehensive Economic and Trade Agreement with the United Kingdom.

  • MIL-OSI Asia-Pac: Panda stamps to be released

    Source: Hong Kong Information Services

    Hongkong Post will issue a set of special stamps and associated philatelic products themed “Giant Panda Twin Cubs” on August 15.

    The central government gifted a pair of giant pandas, Ying Ying and Le Le, to the Hong Kong Special Administrative Region in 2007. The pandas welcomed a pigeon pair of cubs on August 15, 2024. The twin cubs are the first giant pandas successfully bred and born in Hong Kong, and Ying Ying is the world’s oldest first-time giant panda mother.

    Their birth is especially meaningful as it helps advance the conservation and breeding efforts for giant pandas in Hong Kong.

    Hongkong Post will issue a set of six stamps, two stamp sheetlets and associated philatelic products themed “Giant Panda Twin Cubs” to showcase the highlights of their daily lives at different stages and witness their growth journey.

    Click here for for the sales arrangements for these stamp products.

    Additionally, Hongkong Post will specially launch a “Giant Panda Twin Cubs” cachet from August 15 for stamping.

    MIL OSI Asia Pacific News –

  • Trump hits Brazil with tariffs, sanctions but key sectors excluded

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump on Wednesday slapped a 50% tariff on most Brazilian goods to fight what he has called a “witch hunt” against former President Jair Bolsonaro, but softened the blow by excluding sectors such as aircraft, energy and orange juice from heavier levies.

    Trump announced the tariffs, some of the steepest levied on any economy in the U.S. trade war, as his administration also unveiled sanctions on the Brazilian supreme court justice who has been overseeing Bolsonaro’s trial on charges of plotting a coup.

    “Alexandre de Moraes has taken it upon himself to be judge and jury in an unlawful witch hunt against U.S. and Brazilian citizens and companies,” Treasury Secretary Scott Bessent said in a statement.

    Bessent said Moraes “is responsible for an oppressive campaign of censorship, arbitrary detentions that violate human rights, and politicized prosecutions — including against former President Jair Bolsonaro.”

    Last week, the Brazilian justice levied search warrants and restraining orders against Bolsonaro over allegations he courted Trump‘s interference in his criminal case, in which he is accused of plotting to stop President Luiz Inacio Lula da Silva from taking office in 2023.

    Trump‘s final tariff order and the sanctions followed weeks of sparring with Lula, who has likened the U.S. president, a close ideological ally of Bolsonaro’s, to an unwanted “emperor.”

    On Wednesday, Lula and his government closed ranks behind Moraes, calling the U.S. sanctions “unacceptable.”

    “The Brazilian government considers the use of political arguments to defend the trade measures announced by the U.S. government against Brazilian exports to be unjustifiable,” it said in a statement.

    Lula added that Brazil was willing to negotiate trade with the U.S., but that it would not give up on the tools it had at hand to defend itself, hinting that retaliation was possible.

    Still, Trump‘s tariff order threatened that if Brazil were to retaliate, the U.S. would also up the ante.

    DIPLOMACY AT WORK

    Despite Trump‘s effort to use the tariffs to alter the trajectory of a pivotal criminal trial, the range of exemptions came as a relief for many in Brasilia, who since Trump announced the tariff earlier this month had been urging protections for major exporters caught in the crossfire.

    “We’re not facing the worst-case scenario,” Brazilian Treasury Secretary Rogerio Ceron told reporters.

    The new tariffs will go into effect on August 6, not on Friday as Trump announced originally.

    Trump‘s executive order formalizing a 50% tariff excluded dozens of key Brazilian exports to the United States, including civil aircraft, pig iron, precious metals, wood pulp, energy and fertilizers.

    Planemaker Embraer EMBR3.SA, whose chief executive has met with officials in Washington and U.S. clients in recent days to plead its case for relief, said an initial review indicated that a 10% tariff imposed by Trump in April remains in place, with the exclusion applying to the additional 40%.

    The exceptions are likely a response to concerns from U.S. companies, rather than a step back from Trump‘s efforts to influence Brazilian politics, said Rafael Favetti, a partner at political consultancy Fatto Inteligencia Politica in Brasilia.

    “This also shows that Brazilian diplomacy did its work correctly by working to raise awareness among U.S. companies,” he said.

    Brazil‘s minister of foreign affairs, Mauro Vieira, said he met with U.S. Secretary of State Marco Rubio on Wednesday to express the nation’s willingness to discuss tariffs after negotiations stalled in June, though he stressed Bolsonaro’s legal troubles were not up for debate.

    It remains unclear what Brazilian authorities “are bringing to the negotiating table to, for instance, open the domestic market,” Goldman Sachs said in a note to clients.

    IMPACT SMALLER THAN EXPECTED

    The effective tariff rate on Brazilian shipments to the U.S. should be around 30.8%, lower than previously expected due to the exemptions, according to Goldman.

    Oil shipments to the U.S., which had been suspended, are set to restart after being spared, lobby group IBP said. Meanwhile, mining lobby Ibram said the exemptions covered 75% of mining exports.

    However, it was still too soon to celebrate, said former Brazilian trade secretary Welber Barral, estimating that Brazil exports some 3,000 different products to the United States.

    “There will be an impact,” Barral said.

    Trump‘s tariff exemptions did not shield two of Brazil‘s key exports to the U.S., beef and coffee.

    Meatpackers expect to log $1 billion in losses in the second half of the year on the new tariffs, lobby group Abiec, which represents beef producers including JBS JBS3.SA and Marfrig MRFG3.SA, said.

    Coffee exporters will also continue to push for exemptions, they said in a statement.

    The government said it was readying measures to protect Brazil‘s businesses and workers.

    If Brazil were to retaliate against Trump‘s measures, that “would generate a larger negative impact” on activity and inflation, Goldman said.

    “The political inclination may be to retaliate, but exporters and business associations have been urging the Brazilian administration to engage, negotiate and de-escalate.”

    (Reuters)

  • Amarnath Yatra suspended due to heavy rain; no convoy to move from Jammu today

    Source: Government of India

    Source: Government of India (4)

    The annual Amarnath Yatra has been suspended for the day due to heavy rainfall, with no pilgrim convoy allowed to move from Jammu to the base camps in Kashmir on Thursday, officials said.

    Citing adverse weather conditions along the Yatra routes, authorities halted the movement of pilgrims from the Bhagwati Nagar base camp in Jammu. “Due to heavy rains in the Yatra area, the movement of pilgrims from the base camps has been affected. Therefore, it has been decided that no convoy movement shall be allowed towards the base camps Baltal and Nunwan from Jammu on July 31,” said Ramesh Kumar, Divisional Commissioner of Jammu.

    So far, more than 3.93 lakh pilgrims have visited the holy Amarnath Cave Shrine during this year’s pilgrimage, which began on July 3 and is scheduled to conclude on August 9, coinciding with Shravan Purnima and Raksha Bandhan.

    Officials have also confirmed that the Yatra will resume via the Baltal route only, starting Friday, August 1. The Pahalgam axis has been temporarily closed for urgent repair and maintenance following recent rainfall. “Due to the heavy rains, necessary maintenance work is being undertaken on the Pahalgam route. The Yatra shall continue only through the Baltal axis from August 1,” said Divisional Commissioner Kashmir, Vijay Kumar Bidhuri.

    This is the second consecutive day of disruption, as the Yatra from both Baltal and Chandanwari/Nunwan base camps was suspended on July 30 due to weather-related concerns.

    Meanwhile, preparations continue for the annual ‘Chhari Mubarak’ procession—the holy mace of Lord Shiva—which will commence from the Amareshwar Temple in Srinagar on August 4 and reach the cave shrine on the morning of August 9.

    Located at an altitude of 3,888 metres, the Amarnath cave shrine is known for the naturally formed ice stalagmite believed by devotees to represent Lord Shiva.

    -IANS

  • MIL-OSI New Zealand: NZ reopens for petroleum exploration

    Source: New Zealand Government

    Operators will be able to apply for new petroleum exploration permits as early as September following the third reading of the Crown Minerals Amendment Bill, Resources Minister Shane Jones says. 

    The Bill removes the ban on oil and gas exploration beyond onshore Taranaki, better aligns decommissioning settings with international practice, establishes a new tier of permit to undertake small-scale non-commercial gold mining, and signals the Coalition Government’s intent to reinvigorate investment in Crown-owned minerals. 

    “This Government is pragmatic about the vital role natural gas will play in our energy mix in the decades ahead and we have set a course for greater energy security backed by our own indigenous reserves,” Mr Jones says.

    “The ill-fated exploration ban in 2018 has exacerbated shortages in our domestic gas supply by obliterating new investment in the exploration and development needed to meet our future gas needs. Reserves are also falling faster than anticipated.

    “New Zealanders are bearing the brunt of this constrained gas supply, and energy security concerns are impacting investor sentiment. These factors are taking a toll on our economic growth and prosperity.

    “We are seeing businesses in the regions closing as a result with Kiwis losing their jobs, and we’re importing hundreds of tonnes of Indonesian coal to meet peak energy demand.

    “This legislation is just one of many actions we are taking to get the right settings in place to resuscitate sector confidence, shore up energy supply and protect electricity affordability.”

    During the progression of the Bill, a gap was identified in the existing Crown Minerals Act that relates to liability for the costs of decommissioning petroleum infrastructure. In certain circumstances, parent companies of permit-holders could sell their shares without remaining responsible for the costs of decommissioning old petroleum infrastructure, exposing the Crown to fiscal risk.

    “Together with changes to the decommissioning regime that better balance regulatory burden and risk to give operators the clarity they need to invest in exploration and development wells, we have introduced ministerial discretion to assign liability for decommissioning costs to former permit-holders and others who have held interests in a permit,” Mr Jones says.

    “We recognise that a one-size-fits-all approach for every scenario not only erodes investor confidence, it also doesn’t allow us to best manage risk.

    “I want those who benefited from having an interest in a petroleum permit to pay for decommissioning the relevant infrastructure. While financial securities remain at the core, the new approach to assigning liability will ensure the most appropriate person will remain responsible for costs if the current permit-holder cannot meet their obligations and financial securities are insufficient.”

    Most of the changes through the Bill will take effect immediately, while others will require staged implementation and secondary legislation. All changes will be operational by the end of September 2025.

    For more information, see 2024 Proposed amendments to the Crown Minerals Act 1991 | Ministry of Business, Innovation & Employment (mbie.govt.nz) 

    MIL OSI New Zealand News –

  • Sensex, Nifty open lower amid concerns over US tariffs effective August 1

    Source: Government of India

    Source: Government of India (4)

    Indian benchmark indices opened lower on Thursday after US President Donald Trump announced a steep 25 per cent tariff on imports from India, triggering concerns among investors.

    At 9:27 a.m., the Sensex was down 487 points or 0.60 per cent at 80,994, while the Nifty declined 140 points or 0.57 per cent to trade at 24,717.

    Broader markets also witnessed selling pressure. The Nifty Midcap 100 index fell by 457 points or 0.79 per cent to 57,484, and the Nifty Smallcap 100 index was down 100 points or 0.55 per cent at 18,037.

    “From an investor’s perspective, it is important to understand that the 25 per cent tariff is likely to come down after negotiations, which are expected to begin in mid-August. The tariff imposed on India is significantly higher than the rates agreed upon in trade deals with other countries,” said Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    He termed it a typical “Trumpian strategy” aimed at negotiating better deals from India in other areas, likely culminating in a final tariff rate of around 20 per cent or lower.

    “Nifty is unlikely to fall below the support level of 24,500. Investors can consider buying on dips, with a focus on domestic consumption themes. Sectors like private sector banking, telecom, capital goods, cement, hotels, and select auto stocks that performed well in Q1 remain attractive,” he added.

    Almost all sectoral indices turned red in morning trade, with auto, energy, pharma, PSU banks, financial services, metal, realty, and public sector enterprises (PSEs) among the top laggards.

    In the Sensex pack, M&M, Bharti Airtel, Reliance, Infosys, HCL Tech, Titan, SBI, TCS, ICICI Bank, Trent, L&T, HDFC Bank, and NTPC were among the top losers. On the other hand, Power Grid, Tata Steel, ITC, and HUL emerged as the top gainers.

    In terms of institutional activity, foreign institutional investors (FIIs) continued their selling streak for the eighth straight session on July 30, offloading equities worth ₹850 crore. In contrast, domestic institutional investors (DIIs) extended their buying spree for the 18th consecutive session, purchasing equities worth ₹1,829 crore on the same day.

    -IANS