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Category: Asia

  • Turkey blocks X’s Grok chatbot for alleged insults to Erdogan

    Source: Government of India

    Source: Government of India (4)

    A Turkish court has blocked access to Grok, the artificial intelligence chatbot developed by the Elon Musk-founded company xAI, after it generated responses that authorities said included insults to President Tayyip Erdogan.

    Issues of political bias, hate speech and accuracy of AI chatbots have been a concern since at least the launch of OpenAI’s ChatGPT in 2022, with Grok dropping content accused of antisemitic tropes and praise for Adolf Hitler.

    The office of Ankara’s chief prosecutor has launched a formal investigation into the incident, it said on Wednesday, in Turkey’s first such ban on access to an AI tool.

    Neither X nor its owner Elon Musk has commented on the decision.

    Last month, Musk promised an upgrade to Grok, suggesting there was “far too much garbage in any foundation model trained on uncorrected data”.

    Grok, which is integrated into X, reportedly generated offensive content about Erdogan when asked certain questions in Turkish, media said.

    The Information and Communication Technologies Authority (BTK) adopted the ban after a court order, citing violations of Turkey’s laws that make insults to the president a criminal offence, punishable with up to four years in jail.

    Critics say the law is frequently used to stifle dissent, while the government maintains it is necessary to protect the dignity of the office.

    (Reuters)

  • Indian NBFCs to clock 25 pc growth in education loan assets in FY26 amid US uncertainties

    Source: Government of India

    Source: Government of India (4)

    For non-banking finance companies (NBFCs) in India, education loans have been the fastest-growing asset class, clocking over 50 per cent growth in the assets under management (AUM) over the past few years, a report said on Wednesday. This fiscal (FY26), growth is seen moderating to 25 per cent with AUM reaching Rs 80,000 crore.

    The pace is likely to halve this fiscal as disbursements for pursuing educational courses in the US decelerate following a raft of policy changes in that country, according to the report by Crisil Rating.

    To mitigate the impact, NBFCs are diversifying into new geographies and product adjacencies. While non-performing assets (NPAs) have remained stable so far, asset quality will be monitorable given the global uncertainties and a large proportion of AUM (85) remaining under contractual principal moratorium, the report mentioned.

    The education loan AUM of NBFCs grew a rapid 48 per cent to Rs 64,000 crore last fiscal. That followed an even faster 77 per cent growth in fiscal 2024.

    “Policy uncertainties in the US, combined with measures including reduced visa appointments and the proposed elimination of Optional Practical Training norms have culled newer loan originations. This has led to a 30 per cent decline in total disbursements to that geography last fiscal,” said Malvika Bhotika, Director, Crisil Ratings.

    Disbursements linked to even Canada, the second-largest market, fell as student visa rules turned stricter, including increased financial requirements via proof of available funds, and cap on permits.

    “Consequently, overall education loan disbursements were up only 8 per cent in fiscal 2025, compared with 50 per cent in fiscal 2024, Bhotika mentioned.

    To offset these headwinds, NBFCs have sharpened focus on other geographies.

    Disbursements linked to courses in the UK, Germany, Ireland and smaller countries have doubled in the past fiscal as students opted for alternative destinations.

    The share of such geographies in total disbursements rose to almost 50 per cent in fiscal 2025 from 25 per cent a year ago.

    NBFCs are also looking at domestic student loans and adjacencies such as school funding, loans for skill development, certification and coaching. Given the lower ticket sizes of such loans, their share in the overall portfolio is unlikely to be material, but they may lend some stability in times of global uncertainties.

    “The ability of NBFCs to scale up and maintain asset quality in some of the newer domestic products will bear watching as well,” said Sonica Gupta, Associate Director, Crisil Ratings. Moreover, the agility of the NBFCs to navigate the complexities of the global landscape, characterised by uncertainty and change in preferences of students, will be crucial for sustained growth and success.

    (IANS)

  • MIL-OSI China: SCIO briefing on China’s economic performance in April 2025

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

    中文

    Speakers:

    Mr. Fu Linghui, spokesperson of the National Bureau of Statistics (NBS) and director general of the Department of Comprehensive Statistics of the NBS

    Chairperson:

    Zhou Jianshe, deputy director general of the Press Bureau of the State Council Information Office (SCIO) and spokesperson of the SCIO

    Date:

    May 19, 2025

    Zhou Jianshe:

    Ladies and gentlemen, good morning. Welcome to this press conference held by the State Council Information Office (SCIO). This is a regular briefing on China’s economic data. Today, we are joined by Mr. Fu Linghui, spokesperson of the National Bureau of Statistics (NBS) and director general of the Department of Comprehensive Statistics of the NBS. Mr. Fu will brief you on China’s economic performance in April 2025 and then take your questions.

    First, I will give the floor to Mr. Fu for his introduction.

    Fu Linghui:

    Good morning, everyone. As usual, I will start by briefing you on the main economic indicators for this April and then take your questions.

    In April, the national economy withstood pressure and maintained stable growth.

    In April, in the face of a complicated situation marked by increasing external shocks and multiple domestic difficulties and challenges, under the strong leadership of the Communist Party of China (CPC) Central Committee with Comrade Xi Jinping at its core, all regions and departments strictly implemented the decisions and arrangements made by the CPC Central Committee and the State Council, adhered to the general principle of pursuing progress while ensuring stability, fully and faithfully applied the new development philosophy on all fronts, accelerated efforts to create a new pattern of development, took solid steps to promote high-quality development, stepped up the implementation of more proactive and effective macro policies, and responded to the external shocks effectively. As a result, production and demand grew steadily, employment was generally stable, and new growth drivers accumulated and grew. The national economy maintained stable growth despite pressure, sustaining the new and positive development momentum.

    Fu Linghui:

    First, industrial production grew quickly, with equipment manufacturing and high-tech manufacturing showing good growth momentum.

    In April, the total value added of industrial enterprises above designated size grew by 6.1% year on year, or 0.22% month on month. In terms of sectors, the value added of mining went up by 5.7% year on year, manufacturing up by 6.6%, and the production and supply of electricity, thermal power, gas and water up by 2.1%. The value added of equipment manufacturing increased by 9.8% year on year, and that of high-tech manufacturing increased by 10.0%, which were 3.7 percentage points and 3.9 percentage points faster than that of industrial enterprises above designated size, respectively. In terms of ownership, the value added of state holding enterprises was up by 2.9% year on year; that of share-holding enterprises was up by 6.6%; that of enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan was up by 3.9%; and that of private enterprises was up by 6.7%. In terms of products, the outputs of 3D printing devices, industrial robots and new energy vehicles (NEVs) grew by 60.7%, 51.5% and 38.9% year on year, respectively. In the first four months, the total value added of industrial enterprises above designated size went up by 6.4% year on year. In April, the Manufacturing Purchasing Managers’ Index was 49.0%; and the Production and Operation Expectation Index was 52.1%. In the first three months, the total profits made by industrial enterprises above designated size were 1,509.4 billion yuan, up by 0.8% year on year.

    Second, the service sector grew steadily and modern services developed well.

    In April, the Index of Services Production grew by 6.0% year on year. In terms of sectors, that of information transmission, software and information technology services, leasing and business services, wholesales and retails, and finance grew by 10.4%, 8.9%, 6.8% and 6.1% year on year, respectively, which were 4.4 percentage points, 2.9 percentage points, 0.8 percentage point and 0.1 percentage point faster than that of the Index of Services Production. In the first four months, the Index of Services Production increased by 5.9% year on year. In the first three months, the business revenue of service enterprises above designated size went up by 7.0% year on year. In April, the Business Activity Index for Services was 50.1%, and the Business Activity Expectation Index for Services was 56.4%. Specifically, the Business Activity Index for industries like air transportation, telecommunication, broadcast, television and satellite transmission services, internet software and information technology services, and insurance stayed within the high expansion range of 55.0% and above.

    Third, market sales maintained steady growth and trade-in goods grew quickly.

    In April, the total retail sales of consumer goods reached 3,717.4 billion yuan, up by 5.1% year on year, or up by 0.24% month on month. Analyzed by different areas, the retail sales of consumer goods in urban areas reached 3,237.6 billion yuan, up by 5.2% year on year; and that in rural areas reached 479.8 billion yuan, up by 4.7%. Grouped by consumption patterns, the retail sales of goods were 3,300.7 billion yuan, up by 5.1%; and the income of catering was 416.7 billion yuan, up by 5.2%. Sales of basic living goods and certain upgraded goods showed sound growth. The retail sales of grain, oil and food and of sports and recreational articles by enterprises above designated size went up by 14.0% and 23.3%, respectively. The effect of trade-in of consumer goods continued to manifest, with the retail sales of household appliances and audiovisual equipment, cultural and office supplies, furniture, and communication equipment by enterprises above designated size growing by 38.8%, 33.5%, 26.9% and 19.9%, respectively. In the first four months, the total retail sales of consumer goods reached 16,184.5 billion yuan, up by 4.7% year on year. Online retail sales reached 4,741.9 billion yuan, up by 7.7% year on year. Specifically, the online retail sales of physical goods were 3,926.5 billion yuan, up by 5.8%, accounting for 24.3% of the total retail sales of consumer goods. In the first four months, the retail sales of services grew by 5.1% year on year.

    Fourth, investment in fixed assets continued to expand and investment in manufacturing grew quickly.

    In the first four months, investment in fixed assets (excluding rural households) reached 14,702.4 billion yuan, up by 4.0% year on year; and investment in fixed assets was up by 8.0% with the investment in real estate development deducted. Specifically, investment in infrastructure grew by 5.8% year on year, that in manufacturing grew by 8.8%, and that in real estate development declined by 10.3%. The floor space of newly-built commercial buildings sold was 282.62 million square meters, down by 2.8% year on year; and the total sales of newly-built commercial buildings were 2,703.5 billion yuan, down by 3.2%. By industry, investment in the primary industry increased by 13.2% year on year, that in the secondary industry up by 11.7%, and that in the tertiary industry down by 0.2%. Private investment increased by 0.2% year on year, or increased by 5.8% with the investment in real estate development deducted. In terms of high-tech industries, investment in information services, computer and office device manufacturing, aerospace vehicle and equipment manufacturing, and professional technical services grew by 40.6%, 28.9%, 23.9% and 17.6%, respectively. In April, investment in fixed assets (excluding rural households) increased by 0.10% month on month.

    Fifth, imports and exports of goods kept growing and the trade structure continued to be optimized.

    In April, the total value of imports and exports of goods was 3.84 trillion yuan, a year-on-year increase of 5.6%. Specifically, the total value of exports was 2.26 trillion yuan, up by 9.3%. The total value of imports was 1.57 trillion yuan, up by 0.8%. In the first four months, the total value of imports and exports of goods was 14.13 trillion yuan, a year-on-year increase of 2.4%. Specifically, the total value of exports was 8.39 trillion yuan, up by 7.5%. The total value of imports was 5.74 trillion yuan, down by 4.2%. In the first four months, the imports and exports of general trade went up by 0.6%, accounting for 64% of the total value of imports and exports. Imports and exports by private enterprises went up by 6.8%, accounting for 56.9% of the total value of imports and exports, which is 2.3 percentage points higher than that of the same period last year. The exports of mechanical and electrical products grew by 9.5%, accounting for 60.1% of the total value of exports.

    Sixth, employment was generally stable and the surveyed urban unemployment rate declined.

    From January to April, the average surveyed unemployment rate in urban areas remained flat year on year at 5.2%. In April, the national surveyed urban unemployment rate was 5.1%, 0.1 percentage point lower than that of the previous month. The surveyed unemployment rate of population with local household registration was 5.2% and that of population with non-local household registration was 4.8%, of which the rate of population with non-local agricultural household registration was 4.7%. The surveyed urban unemployment rate across 31 major cities was 5.1%, 0.1 percentage point lower than that of the previous month. Employees of enterprises nationwide worked an average of 48.3 hours per week.

    Seventh, the consumer price index (CPI) fell slightly year on year, and the core CPI growth rate was stable.

    In April, the CPI decreased by 0.1% year on year, and increased by 0.1% compared to the previous month. By category, prices for food, tobacco and alcohol went up by 0.3%; clothing up by 1.3%; housing up by 0.1%; household goods and services for daily use up by 0.2%; transportation and communication prices down by 3.9%; education, culture and recreation up by 0.7%; medical services and health care up by 0.2%; and other articles and services up by 6.6%. In terms of food, tobacco and alcohol, prices for fresh vegetables fell by 5%, grain fell by 1.4%, pork up by 5%, and fresh fruits up by 5.2%. The core CPI, excluding the prices of food and energy, grew by 0.5% year on year. In the first four months, the CPI went down by 0.1% year on year.

    In April, the national producer price index (PPI) for industrial products went down by 2.7% year on year and 0.4% month on month. The purchasing price index for industrial producers went down by 2.7% year on year and 0.6% month on month. In the first four months, the national producer price and purchasing price indexes for industrial products both dropped by 2.4% compared with the same period last year.

    Overall, in April, despite increased external pressures, the coordinated efforts of macro policies ensured steady and relatively rapid growth in major indicators, sustaining the upward and improving trend of the national economy. It should also be noted that external instabilities and uncertainties still remain significant, and the foundation for the continuous improvement of the national economy needs to be further consolidated. In the next stage, we must adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, resolutely implement the decisions and deployments of the CPC Central Committee and the State Council, and adhere to the general principle of seeking progress while maintaining stability. We must fully and accurately implement the new development philosophy, accelerate the construction of a new development paradigm, coordinate domestic economic work and international economic and trade efforts, unswervingly handle our own affairs well, unswervingly expand high-level opening up, focus on stabilizing employment, enterprises, markets and expectations, solidly promote high-quality development, and promote the continuous recovery and improvement of the economy. Thank you.

    Zhou Jianshe:

    The floor is now open for questions. Please identify your media outlet before raising your questions.

    MIL OSI China News –

  • MIL-OSI China: Wang powers into WTT US Smash last 16, Sun survives

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

    Reigning world champion Wang Chuqin advanced to the men’s singles last 16 with a 3-1 win over Kao Cheng-jui of Chinese Taipei, while women’s world No. 1 Sun Yingsha endured another full-game battle at the World Table Tennis (WTT) United States Smash on Tuesday.

    As Team China’s only remaining player in the bottom half, Wang started strong with an 11-2 opening game. Kao leveled with an 11-9 win, but Wang responded confidently, taking the next two games 11-6, 11-3 to close out the match.

    Wang Chuqin hits a return during the men’s singles round of 32 match between Wang Chuqin of China and Wong Chun Ting of China’s Hong Kong at ITTF World Table Tennis Championships Finals Doha 2025 in Doha, Qatar, May 20, 2025. (Xinhua/Liu Xu)

    “We met many times before, so I was fully prepared for this match, especially considering the uncertainties brought by the venue and table,” said Wang. “When leading in the second game, I was a bit conservative, but after negotiations with my coach, I felt that I needed to stick to my own style of play.”

    French qualifier Lilian Bardet, who upset China’s Liang Jingkun in the previous round, continued his surprise run with a 3-1 victory over Germany’s Ricardo Walther.

    “I’m very happy and very proud of myself for this run. It’s not over yet and I hope to go as far as possible,” said Bardet.

    “Now I just want to carry this confidence and continue to play relaxed and let’s see how it goes,” he added.

    Sixth seed Felix Lebrun won 3-1 in an all-French clash with Simon Gauzy. German seeds Benedikt Duda and Qiu Dang also progressed to the third round.

    Sun Yingsha, who was pushed to five games by Australia’s Liu Yangzi in the opening round, faced another test against 17-year-old Hana Goda. The Egyptian teenager led two-one before Sun rallied with back-to-back 11-7 wins to complete the comeback.

    “Hana is quite young. She posed a huge challenge to me today with determination to win. Facing adversities, I just tried to improve my game with staunch belief,” commented Sun.

    Sun was joined in the women’s last 16 by teammates Chen Xingtong, Kuai Man and Chen Yi, as well as Japan’s Miwa Harimoto and Hina Hayata.

    Kuai also advanced to the mixed doubles quarterfinals with Lin Shidong after the top seeds swept Austria’s Robert Gardos and Sofia Polcanova in straight games.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: LCQ22: Support for public rental housing tenants

    Source: Hong Kong Government special administrative region

    Following is a question by the Hon Kingsley Wong and a written reply by Secretary for Housing, Ms Winnie Ho, in the Legislative Council today (July 9):

    Question:

    It has been learnt that a number of cases involving deaths of public rental housing (PRH) tenants in their own PRH flats occurred in Hong Kong in the past, in which the deaths of such tenants remained unknown for a long time, and there were even cases where their bodies had been reduced to skeletons by the time they were discovered; and there were also cases in which carers died suddenly in their PRH flats, but the relatives living with them were forced to “stay with the dead bodies” as their relatives were unable to seek assistance and report to the Police due to mental incapacity or other reasons. In this connection, will the Government inform this Council:

    (1) of the number of cases in each of the past 10 years, in which staff of the Housing Department (HD) found people dead in the flats concerned during home visits or flat recovery work (e.g. breaking into the flats concerned);

    (2) of the number of cases in each of the past 10 years, in which the Social Welfare Department (SWD) found people dead in the flats concerned in the course of following up the welfare service matters of PRH tenants;

    (3) it is learnt that, following the default on rental payment for two consecutive months by PRH tenants, HD will make several attempts to contact the tenants concerned by means of telephone, written notification or home visits, etc., of the criteria adopted by HD for determining whether it is necessary to refer the cases to other departments for follow-up or to report to the Police after repeated unsuccessful attempts to contact the tenants;

    (4) regarding cases in which HD is unable to contact the tenants successfully, whether HD will consider seeking assistance from the Police within a shorter period of time, so as to decide if further actions will be taken in respect of the tenants concerned (e.g. breaking into the flats); if so, of the details; if not, the reasons for that;

    (5) as there are views that enhanced cooperation among different departments will facilitate early detection of death cases in PRH flats and even save lives, whether HD, SWD, the Home Affairs Department and the Police will consider setting up a mechanism for information sharing and cooperation; if so, of the details; if not, the reasons for that;

    (6) whether it will promote and encourage the District Services and Community Care Teams (Care Teams), management companies and PRH tenants to set up a system for assuring safety, so that PRH tenants who live alone or need relevant support may participate on a voluntary basis;

    (7) given that HD has launched the pilot scheme of Door Sensor Installation for Elderly Households to equip the elderly households who have voluntarily participated in the scheme with the system which allows designated relatives or friends to keep track of the movement of the elderly in and out of their flats, whether the authorities will extend the scheme to cover non-elderly PRH tenants in the future; whether they will promote and encourage the Care Teams and management companies to become one of the designated contact persons, so as to expeditiously follow up the situation of the tenants concerned; and

    (8) given that the Hong Kong Federation of Trade Unions and the Hong Kong and China Gas Company Limited have joined forces to launch the Gas Guardian Care Network programme, which utilises smart meters to monitor the gas usage patterns of the elderly in real-time, whether the authorities will make reference to the programme and launch other projects in collaboration with the business sector and community organisations to enable carers to check the condition of the elderly, so as to enhance home safety of the elderly?

    Reply:

    President,

    The estate management staff of the Housing Department (HD) will contact public rental housing (PRH) tenants through daily management work, proactively understanding their living conditions in PRH units and will pay special attention to elderly residents living alone. Cases will be referred to other government departments and social welfare organisations as needed to provide assistance. 

    In response to the question raised by the Hon Kingsley Wong, in consultation with the Labour and Welfare Bureau (LWB) and the Home Affairs Department, our reply is as follows:

    (1), (2) and (5) In the past 10 years (i.e. 2015 to 2024), the number of natural deaths recorded in PRH units under the HD is listed in the Annex. These cases are mainly discovered through the HD’s routine management work (such as patrols, home visits, flat recovery operations, etc.), or were reported by the tenants’ relatives, friends, or neighbours to the estate offices, or referred by other government departments including the police and the Social Welfare Department (SWD) or social welfare organisations. The HD does not maintain statistical breakdowns of the means by which these cases are discovered.

    At present, the HD and the SWD have established an inter-departmental referral mechanism to handle special cases of housing assistance for PRH tenants. Liaison groups have been formed at both the headquarters and regional levels to regularly review and improve the cooperation mechanism for housing assistance cases. The HD is also closely collaborating with the LWB and is providing information of PRH tenants under the premise of protecting personal data privacy, with a view to facilitating the LWB to develop a database for following up on hidden and needy elderly individuals.

    (3) and (4) According to Section 19(1)(b) of the Housing Ordinance (Cap. 283), when the Housing Authority (HA) serves a notice-to-quit to tenant, at least one month’s notice for termination of tenancy should be given. Upon expiry of the notice, if the occupier still does not voluntarily surrender the unit, the HD can then deploy staff to proceed flat recovery action in accordance with the Housing Ordinance. For rent arrears cases, a series of actions will be taken initially by the HD before serving notice-to-quit, including communicating with tenants through home visits, phone calls or face-to-face interviews. If the tenants still cannot be reached, HD staff will try to reach their relatives and emergency contacts. For some singleton elderly tenants who live by themselves and have not provided any relatives or other contact persons, we will make every effort to contact them through alternative means, including slipping notes through the door gap and into the letter box to ask the tenants to contact the estate office as soon as possible, instructing security guards to monitor the tenants’ entry into and exit from the building, and recording their water and electricity consumption to more closely monitor their situation. If the tenants are in rent arrears due to financial difficulties, cases may be referred to the SWD for follow-up or be provided with assistance to apply for Rent Assistance Scheme, subject to their consent and fulfilment of eligibilities. If the tenants or any of their relatives still cannot be reached despite multiple attempts, the HD will inquire with other departments such as the SWD to check if the tenants are their care cases and their latest situation; or the Immigration Department to check the tenants’ immigration records, etc.; and will seek assistance from the police if necessary. In addition, if HD staff discover suspicious cases during daily management work (e.g. unusual odours emanating from the unit), they will notify the police immediately to take appropriate action, including breaking into the unit as necessary.

    (6), (7) and (8) In order to encourage property management companies and security service contractors to be more proactive in assisting PRH tenants in need, we give bidders who can provide effective suggestions for caring the tenants, e.g. establishing volunteer teams to provide volunteer services to the community in the estate and to visit the elderly or individuals/ families in need, etc., additional marks during the tender evaluation, thereby increasing their chances of winning the bid. In addition, the HD organises the annual Estate Management Services Contractor Awards and the Best Security Staff election to commend service contractors and security personnel who have performed well and actively assisted needy residents in the estate. This aims to encourage them to go the extra mile and take the initiative to care for the estates’ PRH residents.

    Starting from April this year, the HD launched the pilot scheme of Door Sensor Installation for Elderly Households in Wan Hon Estate in Kwun Tong and Sheung Lok Estate in Ho Man Tin. The elderly households who voluntarily participate in the scheme are equipped with the system which allows designated relatives or friends to keep track of the movement of the elderly in and out of their flats so as to provide timely support when needed. The HD will actively explore the feasibility of implementing other similar schemes in collaboration with other government departments and social welfare organisations, with a view to benefitting more elderly households in other PRH estates.

    In addition, the HA also provides subsidies to eligible elderly tenants for the installation of emergency alarm system (Safety Bell), allowing the tenants to seek help timely in case of emergencies. Elderly tenants who require to install Safety Bell but are not receiving Comprehensive Social Security Assistance can apply for the Emergency Alarm System (EAS) Grant from the HA. Since February 2021, the grant has been extended to mobile devices, including mobile phones and watches equipped with EAS, smartphones with dedicated EAS mobile app installed and other products, allowing elderly tenants to purchase suitable emergency alarm system products on their own. Since the implementation of the grant scheme, approximately 26 000 applications have been approved. The HD has also installed fall detection systems in accessible toilets in some housing estates on a pilot basis to detect situations such as falls, fainting, prolonged stays, etc.

    The estate offices under the HA actively assist the Care Teams in promoting care activities, organising community events and providing visits and services to families in need (including elderly households). In addition, the HA collaborates with non-governmental organisations annually to organise activities in various PRH estates.  These activities include outreach visits to identify elderly singleton and hidden elders, providing them with support services such as meal delivery, home repair and cleaning services, escort service for medical appointments, etc., so as to help them maintain basic living needs, expand their social networks and provide emotional support.

    The HA will continue to implement the aforementioned measures and will conduct timely reviews, striving to meet the needs of tenants.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ10: Home ownership by public

    Source: Hong Kong Government special administrative region

    (2) whether it has compiled statistics for each year over the past 10 years on the median monthly income and the median value of monthly mortgage repayment of local owner-occupied households; if so, of the details; if not, the reasons for that;

    (3) as there are views that home ownership can enhance people’s sense of belonging to community and foster strong work values, but according to a research brief published by the Legislative Council Secretariat in March 2021 and data from the Census and Statistics Department, the overall local home ownership rate and the home ownership rate among young people aged below 35 have both declined in recent years, whether the authorities will consider setting a home ownership rate afresh in LTHS in the future; if not, of the reasons for that; and 
    Reply:
     
    President,
     
         Hong Kong’s housing policy has all along been an important cornerstone of social development. The current-term Government put in place measures to enhance quantity, speed, efficiency and quality in land production. With our unremitting efforts in the past three years, the problem of back-loaded public housing supply (including public rental housing (PRH) and subsidised sale flats (SSF)) has completely turned around. Coupled with Light Public Housing (LPH), the total public housing supply (including also PRH and SSF) in the coming five years (i.e. 2025-26 to 2029-30) will reach 197 000 units, which is a significant increase of 85 per cent as compared with the first five year period since the current-term Government took office (i.e. 2022-23 to 2026-27). In addition, we have successfully capped the waiting time for PRH, which has reduced from the peak of 6.1 years to 5.3 years. The oversubscription rate of Home Ownership Scheme (HOS) has also dropped from the peak of 62 times in HOS 2019 to 14 times in HOS 2024. Looking ahead, with the completion of various public housing (including PRH and SSF) as well as LPH projects, the Composite Waiting Time for Subsidised Rental Housing will gradually decline. Therefore, we have more confidence to provide more SSF to further meet the home ownership aspiration of the public.
     
         Currently, about half of the households are residing in accommodations that they own. For most people, buying a property is a major life decision involving many considerations, such as family and childbearing plans as well as the pursuit of a more independent and modern lifestyle, etc. For low- to middle-income persons who cannot afford private housing, SSF is a very suitable first step in realising their dream of home ownership. In this regard, we have all along been striving to enhance the housing ladder through the provision of various types of SSF in response to the home ownership aspiration of households with different income and encourage citizens from all walks of life to move up the social ladder according to their abilities.
     
         In consultation with the Financial Services and the Treasury Bureau and the Census and Statistics Department (C&SD), our reply to the questions raised by Dr the Hon Wendy Hong is as follows:
     
    (1) and (2) Results of the 2016 Population By-census and the 2021 Population Census conducted by C&SD provide statistics regarding home ownership and related demographic and socio-economic characteristics of Hong Kong’s domestic households in the past decade. The number of owner-occupier domestic households by age group of household head and type of housing are listed in Annex 1. Over the past five years, the number of owner-occupier households and households owning SSF increased by over 80 000 and nearly 30 000 respectively, representing growth rates of 6 per cent and 7 per cent. This reflects a rising trend of homeownership among families. The median monthly income and the median mortgage payment and loan repayment of owner-occupier domestic households are listed in Annex 2.
     
         It is worth noting that between 2016 and 2021, only an average of about 4 200 flats were put up for sale under each HOS sale exercise, and the oversubscription rate was as high as about 43 times on average. However, the current-term Government is very determined to tackle the housing problem in Hong Kong. As a result, in the coming five years (i.e. 2025-26 to 2029-30), in addition to PRH/Green Form Subsidised Home Ownership Scheme (GSH) flats, the Hong Kong Housing Authority (HA) and the Hong Kong Housing Society (HS) will have a completion of about 56 500 SSF, averaging about 11 000 units annually. This is 2.6 times of the annual output before the current-term Government took office.
     
    (3) and (4) As stated above, the current-term Government is very determined to resolve housing problem in Hong Kong and we also care about our young people. Therefore, we have introduced a number of policy measures to assist citizens (especially young people) in realising their home ownership aspiration through various aspects, such as supply, allocation and financial arrangements. Since the current-term Government took office, more than 33 000 applicants have purchased SSF, and the difficulties faced by low- and middle-income families in acquiring their own properties over the past decade or so have been clearly reversed by the concerted efforts of the various teams of the current-term Government in providing more land and housing. With the increasing supply of SSF in the coming years, more residents will experience the happiness and sense of fulfillment brought by homeownership over the next decade, enabling more families to settle securely and thrive in our city.
     
         In addition, in terms of supply, the Chief Executive announced in the 2024 Policy Address that the HA would adjust the ratio between PRH (including GSH units) and SSF to gradually adjust the ratio from 7:3 to 6:4 in order to increase the supply of SSF. In the next five years (i.e. 2025-26 to 2029-30), the HA and the HS will complete about 56 500 SSF. As stated above, we believe that a continuous and stable supply of SSF led by the Government is conducive to the upward mobility along the housing ladder and it will help those in need realise their dream of owning a home according to their respective needs and abilities.
     
         At the same time, we have also proposed a series of policy measures to meet the housing needs and demands of different citizens, including revising the ratio between Green Form and White Form in respect of HOS flats from the current 4:6 to 5:5 so as to allow more PRH tenants who would like to purchase HOS flats to move upwards; and increasing the chance of young people and applicants who have made repeated attempts to purchase SSF by optimising the sales arrangements.
     
         Starting from HOS 2024, the HA has implemented the Families with Newborns Flat Selection Priority Scheme which was announced in the 2023 Policy Address. A quota of about 40 per cent of the new flats for sale (i.e. 2 900 flats) under HOS 2024 were set aside for eligible applicants under the Families with Newborns Flat Selection Priority Scheme and the Priority Scheme for Families with Elderly Members for balloting and priority flat selection. During the application period of HOS 2024, the HA received a total of around 106 000 applications. Among them, around 50 000 came from family applicants, in which around 19 000 applied under the Priority Scheme for Families with Elderly Members and Families with Newborns Flat Selection Priority Scheme, representing around 40 per cent of family applicants. If eligible families applying under the Families with Newborns Flat Selection Priority Scheme fail to purchase a flat under HOS 2024, they may still apply under the Scheme for priority flat selection as long as their children are aged three or below on the closing day of the application of subsequent SSF sale exercises. In addition, following GSH 2024, the HA will allocate an extra ballot number to applicants who had failed to purchase a flat in the last two consecutive sale exercises starting from the next HOS exercise, so as to increase their chances of success in purchasing SSF. Based on the figures of HOS 2024, assuming all factors remain constant (including the number of applicants, their age, etc), the success rate of eligible families applying under the of Families with Newborns Flat Selection Priority Scheme in purchasing a flat will increase by about 60 per cent, after obtaining an extra ballot number.
     
         The HA has also been assisting low- to middle-income families in purchasing homes through pricing and financial arrangements. First of all, the Government revised the pricing mechanism of SSF in 2018. The pricing of SSF is calculated on the basis of applicants’ affordability, which is delinked from the private housing market. Under the current pricing mechanism, at least 75 per cent of the flats for sale can allow non-owner occupier households earning the median monthly household income to spend no more than 40 per cent of their monthly income on mortgage payment. Based on affordability calculations, the selling prices of the flats offered under latest GSH and HOS sale exercises were set at 60 per cent and 70 per cent of their assessed market value respectively.
     
         On top of this, the HA relaxed mortgage arrangements for SSF in 2024, including extending the maximum mortgage default guarantee from 30 years to 50 years and extending the maximum mortgage repayment period from 25 years to 30 years to enable purchasers of first-hand and second-hand SSF to obtain mortgage loans from banks and authorised financial institutions participating in the provision of mortgage loans for such flats. After the implementation of relevant arrangements, the number of HOS/GSH flats with a residual guarantee period of more than 10 years increased substantially from about 14 per cent to about 98 per cent. As at May 2025, the average number of transactions of second-hand SSF was about 360 per month, which was about 60 per cent higher than the average number of transactions of about 230 per month in the 12 months before the implementation. Besides, after extending the maximum mortgage repayment period for flats sold under the secondary market from 25 years to 30 years, among buyers who applied for mortgages to purchase SSF in the secondary market, more than half of the cases have a repayment period of 25 years or more. This shows that the above measures have successfully revitalised the secondary market and facilitated the turnover of SSF in the secondary market.
     
         For the secondary market, starting from White Form Secondary Market Scheme (WSM) 2024, the HA has also significantly increased the quota by 1 500 to 6 000, all of which will be allocated to young family applicants and one-person applicants aged below 40. Of all the applications for WSM 2024, more than 80 per cent (i.e. about 28 000 applications) were from young applicants who chose to participate in Youth Scheme (WSM), reflecting that the scheme is well received by young people.
     
         In addition, the Government also responds to the home ownership aspirations of higher-income persons who are not eligible for the HOS and yet cannot afford private housing through Starter Homes for Hong Kong Residents (SH) projects. Apart from the first two SH projects offered for sale by the Urban Renewal Authority (i.e. eResidence Towers 1 and 2, as well as eResidence Tower 3) with a total of over 600 SH units sold, the Government is also taking forward a few other SH projects, which will provide a total of around 5 000 SH units from the next few years onwards. Amongst applicants and final purchasers of SH units offered for sale in the past, around 85 per cent were youth aged 40 or below. We believe that this initiative may help another batch of youngsters from the middle class with higher income yet still cannot afford private housing achieve home ownership with more available options.
     
         Having regard to changes in the overall situation of the property market, the current-term Government has since February 2024 abolished all demand-side management measures for residential properties. The Hong Kong Monetary Authority has also since October 2024 adjusted the countercyclical macroprudential measures for property mortgage loans. The maximum loan-to-value (LTV) ratio and debt servicing ratio (DSR) limit were reverted to the pre-2009 levels before the countercyclical macroprudential measures were first introduced, with the maximum LTV ratio for all residential properties adjusted to 70 per cent, regardless of the value of the property, and the DSR limit adjusted to 50 per cent, providing facilitation to persons with different needs for property purchase. Individuals may also obtain high LTV ratio mortgage loans through the Mortgage Insurance Programme according to their own needs. In particular, for first-time homebuyers with regular income purchasing properties priced at $10 million or below, the LTV ratio can be up to 90 per cent, which greatly reduces their down payment burden.
     
         Furthermore, to ease the burden on buyers of properties at lower values, the Government has since 26 February 2025 adjusted the value bands of Ad Valorem Stamp Duty payable for sale and purchase or transfer of residential and non-residential properties, raising the maximum value of properties chargeable to $100 stamp duty from $3 million and $4 million, facilitating those who wish to purchase flats. As most SSF units are priced below $4 million, buyers may benefit from the aforementioned reduction in stamp duty to $100, with savings up to over $59 000. According to the information from the Inland Revenue Department, there were 3 780 duly stamped sale and purchase agreements for residential properties valued between $3 million and $4 million from March to May 2025, which represents a significant increase of over 70 per cent as compared to the same period last year (March to May 2024) where 2 183 sale and purchase agreements were duly stamped.
     
         We will continue to review whether there is room to optimise various relevant arrangements having regard to factors including developments of the property market, the home ownership needs of different citizens, etc.

    MIL OSI Asia Pacific News –

  • Indian NBFCs to clock 25 pc growth in education loan AUM in FY26 amid US uncertainties

    Source: Government of India

    Source: Government of India (4)

    For non-banking finance companies (NBFCs) in India, education loans have been the fastest-growing asset class, clocking over 50 per cent growth in the assets under management (AUM) over the past few years, a report said on Wednesday. This fiscal (FY26), growth is seen moderating to 25 per cent with AUM reaching Rs 80,000 crore.

    The pace is likely to halve this fiscal as disbursements for pursuing educational courses in the US decelerate following a raft of policy changes in that country, according to the report by Crisil Rating.

    To mitigate the impact, NBFCs are diversifying into new geographies and product adjacencies. While non-performing assets (NPAs) have remained stable so far, asset quality will be monitorable given the global uncertainties and a large proportion of AUM (85) remaining under contractual principal moratorium, the report mentioned.

    The education loan AUM of NBFCs grew a rapid 48 per cent to Rs 64,000 crore last fiscal. That followed an even faster 77 per cent growth in fiscal 2024.

    “Policy uncertainties in the US, combined with measures including reduced visa appointments and the proposed elimination of Optional Practical Training norms have culled newer loan originations. This has led to a 30 per cent decline in total disbursements to that geography last fiscal,” said Malvika Bhotika, Director, Crisil Ratings.

    Disbursements linked to even Canada, the second-largest market, fell as student visa rules turned stricter, including increased financial requirements via proof of available funds, and cap on permits.

    “Consequently, overall education loan disbursements were up only 8 per cent in fiscal 2025, compared with 50 per cent in fiscal 2024, Bhotika mentioned.

    To offset these headwinds, NBFCs have sharpened focus on other geographies.

    Disbursements linked to courses in the UK, Germany, Ireland and smaller countries have doubled in the past fiscal as students opted for alternative destinations.

    The share of such geographies in total disbursements rose to almost 50 per cent in fiscal 2025 from 25 per cent a year ago.

    NBFCs are also looking at domestic student loans and adjacencies such as school funding, loans for skill development, certification and coaching. Given the lower ticket sizes of such loans, their share in the overall portfolio is unlikely to be material, but they may lend some stability in times of global uncertainties.

    “The ability of NBFCs to scale up and maintain asset quality in some of the newer domestic products will bear watching as well,” said Sonica Gupta, Associate Director, Crisil Ratings. Moreover, the agility of the NBFCs to navigate the complexities of the global landscape, characterised by uncertainty and change in preferences of students, will be crucial for sustained growth and success.

    (IANS)

  • MIL-OSI Banking: The 58th ASEAN Foreign Ministers’ Meeting convenes in Kuala Lumpur, Malaysia

    Source: ASEAN – Association of SouthEast Asian Nations

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today joined the ASEAN Foreign Ministers at the 58th ASEAN Foreign Ministers’ Meeting (AMM) in Kuala Lumpur, Malaysia. The meeting was chaired by Minister of Foreign Affairs of Malaysia, The Honourable Dato’ Seri Utama Haji Mohamad Bin Haji Hasan, and was held in both plenary and retreat sessions. The meeting took stock of the progress made after the 46th ASEAN Summit held in Malaysia in May of this year, regarding the ASEAN Community-building efforts, and discussed the state of ASEAN’s external relations as well as regional and global developments. Timor-Leste attended the Meeting as Observer. The Ministers reaffirmed their commitment to supporting Malaysia in realising its Chairmanship deliverables this year under the theme “Inclusivity and Sustainability.”

    The post The 58th ASEAN Foreign Ministers’ Meeting convenes in Kuala Lumpur, Malaysia appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • Broadband subscribers in India cross 944 million, up 2.17% in FY 25: TRAI

    Source: Government of India

    Source: Government of India (4)

    The number of broadband subscribers rose to 944.12 million in India, the Telecom Regulatory Authority of India (TRAI) data showed on Tuesday.

    TRAI released its “Indian Telecom Services – Yearly Performance Indicators Report” for 2024–25, offering a detailed overview of India’s telecom and broadcasting sectors from April 1, 2024, to March 31, 2025.

    India’s internet subscribers rose to 969.10 million from 954.40 million at the end of March 2025, the Ministry of Communications said in a statement. Broadband connections accounted for 944.12 million, registering a 2.17% growth, while narrowband users declined sharply by 17.66% to 24.98 million.

    Mobile Average Revenue Per User (ARPU) saw a notable increase of 16.89%, rising from ₹149.25 to Rs 174.46. Prepaid ARPU rose, while postpaid ARPU marginally declined.

    Total wireless data usage jumped 17.46% to 2,28,779 Petabytes (PB), and data revenue grew 15.49% to Rs 2.15 lakh crore. The number of wireless data users also rose to 939.51 million.

    India’s total telephone subscriber base grew marginally by 0.13% to 1,200.80 million. However, overall teledensity slipped from 85.69% to 85.04%. While urban subscriptions increased slightly, urban teledensity declined by 1.70%. Rural subscriptions also rose, but rural teledensity saw a minor dip.

    Wireless subscribers fell by 0.73%, with a net loss of 8.5 million users. Wireline connections, however, surged by 9.62% to 37.04 million, boosting wireline teledensity from 2.41% to 2.62%.

    The sector’s Gross Revenue (GR) grew by 10.72% to Rs 3.72 lakh crore, while Adjusted Gross Revenue (AGR) rose 12.02% to Rs 3.03 lakh crore. Spectrum Usage Charges and license fees also recorded significant increases.

    In the broadcasting sector, India had 918 permitted private satellite TV channels as of March 2025, with 333 pay channels (232 SD and 101 HD). Pay DTH subscribers declined to 56.92 million, down from 61.97 million the previous year.

    There were 388 operational private FM radio stations across 113 cities, operated by 33 broadcasters after a recent merger. Community Radio Stations also saw growth, increasing from 494 to 531.

    The full report is available on TRAI’s website (www.trai.gov.in).

  • Germany move closer to Euro 2025 knockouts with 2-1 win over Denmark

    Source: Government of India

    Source: Government of India (4)

    Germany’s Sjoeke Nuesken and Lea Schueller struck in the second half to fire the eight-times champions to the verge of the Euro 2025 quarter-finals with a 2-1 victory over Denmark on Tuesday that left the Danes on the brink of an early exit.

    Trailing 1-0 in a game in which two key VAR decisions in the first half went against them, Germany finally got on the scoresheet when they were awarded a penalty in the 56th minute. Nuesken stepped up and calmly slotted her spot-kick into the bottom corner.

    Schueller put the Germans ahead 10 minutes later after a failed clearance by Denmark landed at the Bayern Munich forward’s feet and she swept it into the far corner.

    “This is a victory of mentality, we knew it was going to be tight, we were very happy we were able to turn it around,” Germany coach Christian Wueck said. “It was the mentality, they really wanted to win, so we love to take that away with us.”

    Germany had celebrated what they thought was the opening goal by Klara Buehl but boos rang around the packed St Jakob-Park stadium when it was ruled offside.

    That seemed to halt Germany’s momentum and Amalie Vangsgaard struck for Denmark in the 26th minute when she took a touch before unleashing a shot from a tight angle past Ann-Katrin Berger.

    Germany thought they had won a penalty earlier when the referee whistled and pointed to the spot because of a Denmark handball but VAR determined it was outside the box, prompting more boos from the German fans.

    The Germans will secure their quarter-final place if Poland fail to beat Sweden in Tuesday’s late Group C game.

    Germany defeated Poland in their tournament opener but it came at a heavy cost as captain Giulia Gwinn suffered a knee injury that ended her tournament. Banners of support for the absent skipper dotted the crowd on Tuesday.

    Although Gwinn’s loss was huge, the team’s collective strength enabled them to come from behind after trailing at halftime for only the fourth time in Euros history, as they cranked up the intensity in the second half, finishing the game with 27 shots to Denmark’s five.

    Germany have dominated the Euros since they won the competition for the first time as West Germany in 1989. They lost 2-1 to England in the 2022 final, but have been rebuilding after suffering a shock exit in the group stage of the 2023 World Cup. Denmark had lost to neighbours Sweden in their opener.

    “I think our performance is good in general for a team working extremely hard, but it’s a very good German team,” Denmark coach Andree Jeglertz said.

    “It’s about winning and taking points, and I’m very disappointed that we don’t manage to keep the result, or at least get a point in the end.”

    (Reuters)

  • Germany move closer to Euro 2025 knockouts with 2-1 win over Denmark

    Source: Government of India

    Source: Government of India (4)

    Germany’s Sjoeke Nuesken and Lea Schueller struck in the second half to fire the eight-times champions to the verge of the Euro 2025 quarter-finals with a 2-1 victory over Denmark on Tuesday that left the Danes on the brink of an early exit.

    Trailing 1-0 in a game in which two key VAR decisions in the first half went against them, Germany finally got on the scoresheet when they were awarded a penalty in the 56th minute. Nuesken stepped up and calmly slotted her spot-kick into the bottom corner.

    Schueller put the Germans ahead 10 minutes later after a failed clearance by Denmark landed at the Bayern Munich forward’s feet and she swept it into the far corner.

    “This is a victory of mentality, we knew it was going to be tight, we were very happy we were able to turn it around,” Germany coach Christian Wueck said. “It was the mentality, they really wanted to win, so we love to take that away with us.”

    Germany had celebrated what they thought was the opening goal by Klara Buehl but boos rang around the packed St Jakob-Park stadium when it was ruled offside.

    That seemed to halt Germany’s momentum and Amalie Vangsgaard struck for Denmark in the 26th minute when she took a touch before unleashing a shot from a tight angle past Ann-Katrin Berger.

    Germany thought they had won a penalty earlier when the referee whistled and pointed to the spot because of a Denmark handball but VAR determined it was outside the box, prompting more boos from the German fans.

    The Germans will secure their quarter-final place if Poland fail to beat Sweden in Tuesday’s late Group C game.

    Germany defeated Poland in their tournament opener but it came at a heavy cost as captain Giulia Gwinn suffered a knee injury that ended her tournament. Banners of support for the absent skipper dotted the crowd on Tuesday.

    Although Gwinn’s loss was huge, the team’s collective strength enabled them to come from behind after trailing at halftime for only the fourth time in Euros history, as they cranked up the intensity in the second half, finishing the game with 27 shots to Denmark’s five.

    Germany have dominated the Euros since they won the competition for the first time as West Germany in 1989. They lost 2-1 to England in the 2022 final, but have been rebuilding after suffering a shock exit in the group stage of the 2023 World Cup. Denmark had lost to neighbours Sweden in their opener.

    “I think our performance is good in general for a team working extremely hard, but it’s a very good German team,” Denmark coach Andree Jeglertz said.

    “It’s about winning and taking points, and I’m very disappointed that we don’t manage to keep the result, or at least get a point in the end.”

    (Reuters)

  • Joao Pedro brace sends Chelsea into Club World Cup final

    Source: Government of India

    Source: Government of India (4)

    Joao Pedro kept the celebrations to a minimum after scoring twice to send Chelsea into the Club World Cup final, his goals proving the undoing of his former club Fluminense in a bittersweet meeting at MetLife Stadium on Tuesday.

    The 23-year-old Brazilian forward, who joined Chelsea from Brighton & Hove Albion six days ago, found the net in the 18th minute with a superb strike and again early in the second half with another excellent finish to seal his team’s 2-0 victory and passage to the final.

    He held his hands up apologetically after each strike against the club where he spent his formative years, even as his teammates swarmed around him on the pitch, only briefly cracking a smile after the second goal.

    “They (Fluminense) gave everything to me. They showed me to the world. If I’m here, it’s because they believed in me,” said Pedro.

    “I’m very grateful but this is football – I have to be professional. I feel sorry for them but I have to do my job.”

    Pedro made his debut for Chelsea in their 2-1 quarter-final win over Palmeiras on Friday with only a couple training sessions under his belt. Four days later, he was in the starting team.

    “Today I think because I started, I had more time to do my stuff and I had to score. The team won, the team played well and that’s important,” he added in televised remarks.

    Pedro joined a month after Chelsea signed Liam Delap, as the club moved to plug a forward shortage.

    Chelsea face the winner of the second semi-final on Wednesday between Paris St Germain and Real Madrid. The final is set for Sunday at MetLife Stadium.

    (Reuters)

  • Joao Pedro brace sends Chelsea into Club World Cup final

    Source: Government of India

    Source: Government of India (4)

    Joao Pedro kept the celebrations to a minimum after scoring twice to send Chelsea into the Club World Cup final, his goals proving the undoing of his former club Fluminense in a bittersweet meeting at MetLife Stadium on Tuesday.

    The 23-year-old Brazilian forward, who joined Chelsea from Brighton & Hove Albion six days ago, found the net in the 18th minute with a superb strike and again early in the second half with another excellent finish to seal his team’s 2-0 victory and passage to the final.

    He held his hands up apologetically after each strike against the club where he spent his formative years, even as his teammates swarmed around him on the pitch, only briefly cracking a smile after the second goal.

    “They (Fluminense) gave everything to me. They showed me to the world. If I’m here, it’s because they believed in me,” said Pedro.

    “I’m very grateful but this is football – I have to be professional. I feel sorry for them but I have to do my job.”

    Pedro made his debut for Chelsea in their 2-1 quarter-final win over Palmeiras on Friday with only a couple training sessions under his belt. Four days later, he was in the starting team.

    “Today I think because I started, I had more time to do my stuff and I had to score. The team won, the team played well and that’s important,” he added in televised remarks.

    Pedro joined a month after Chelsea signed Liam Delap, as the club moved to plug a forward shortage.

    Chelsea face the winner of the second semi-final on Wednesday between Paris St Germain and Real Madrid. The final is set for Sunday at MetLife Stadium.

    (Reuters)

  • Joao Pedro brace sends Chelsea into Club World Cup final

    Source: Government of India

    Source: Government of India (4)

    Joao Pedro kept the celebrations to a minimum after scoring twice to send Chelsea into the Club World Cup final, his goals proving the undoing of his former club Fluminense in a bittersweet meeting at MetLife Stadium on Tuesday.

    The 23-year-old Brazilian forward, who joined Chelsea from Brighton & Hove Albion six days ago, found the net in the 18th minute with a superb strike and again early in the second half with another excellent finish to seal his team’s 2-0 victory and passage to the final.

    He held his hands up apologetically after each strike against the club where he spent his formative years, even as his teammates swarmed around him on the pitch, only briefly cracking a smile after the second goal.

    “They (Fluminense) gave everything to me. They showed me to the world. If I’m here, it’s because they believed in me,” said Pedro.

    “I’m very grateful but this is football – I have to be professional. I feel sorry for them but I have to do my job.”

    Pedro made his debut for Chelsea in their 2-1 quarter-final win over Palmeiras on Friday with only a couple training sessions under his belt. Four days later, he was in the starting team.

    “Today I think because I started, I had more time to do my stuff and I had to score. The team won, the team played well and that’s important,” he added in televised remarks.

    Pedro joined a month after Chelsea signed Liam Delap, as the club moved to plug a forward shortage.

    Chelsea face the winner of the second semi-final on Wednesday between Paris St Germain and Real Madrid. The final is set for Sunday at MetLife Stadium.

    (Reuters)

  • Sweden reach Euro 2025 knockouts with 3-0 win over Poland

    Source: Government of India

    Source: Government of India (4)

    Sweden subjected Poland to an all-out aerial attack, scoring three headed goals in a 3-0 win to reach the knockout stages of the women’s European Championship, with captain Kosovare Asllani playing the role of air traffic controller throughout.

    The mercurial 35-year-old sent an early looping header bouncing off the woodwork before teeing up Stina Blackstenius to open the scoring.

    She then netted a header herself after the break, with Lina Hurtig adding a third from a corner as the Swedes guaranteed a top-two spot in Group C and a place in the next round. They will face Germany in their final group game on Saturday to decide who finishes top.

    “The plan was to attack through the flanks and through the wings, because we knew we would have a lot of space there, so we tried to attack, and got a lot of crosses in,” Asllani told Reuters.

    “The first goal, I waited one second extra, waited for their defenders to move, for me to chip it in to Stina. So it’s three headers, three beautiful goals, the three points.”

    The Swedes never relented, pushing down the wings throughout the game.

    “We had seen clips where they are centred themselves a lot, so it felt natural for us to go wide and work from there. It worked for the whole game, so we just kept going at it,” midfielder Filippa Angeldahl told Reuters.

    “We’ll go through Germany and we’ll take a lot of things with us from today. Obviously we’re strong in the box and we want to get in the box as much as possible.”

    With Poland and Denmark now eliminated, it remains to be seen whether the Swedes will adopt the same tactics against Germany when the two sides battle it out in Zurich, and Asllani had a steely look when asked what the plan would be.

    “We want to win the group. That’s clear,” she said.

    (Reuters)

     

  • India’s internet subscribers cross 969 million in FY25, driven by broadband growth: TRAI

    Source: Government of India

    Source: Government of India (4)

    India’s internet subscriber base grew by 1.54% in the financial year 2024–25, rising from 954.40 million in March 2024 to 969.10 million in March 2025, according to data released by the Telecom Regulatory Authority of India (TRAI) on Tuesday.

    The growth was primarily driven by an increase in broadband subscribers, which rose from 924.07 million to 944.12 million, marking a 2.17% year-on-year gain.

    In contrast, narrowband subscriptions declined by 17.66%, falling from 30.34 million to 24.98 million during the same period.

    The report, titled Indian Telecom Services – Yearly Performance Indicators, also noted a 16.89% increase in mobile Average Revenue Per User (ARPU), which climbed from ₹149.25 to ₹174.46. While prepaid ARPU saw a notable rise, postpaid ARPU recorded a slight decline.

    Total wireless data usage jumped 17.46% to 2,28,779 Petabytes (PB), and data revenue grew 15.49% to Rs 2.15 lakh crore. The number of wireless data users also rose to 939.51 million.

    India’s total telephone subscriber base grew marginally by 0.13% to 1,200.80 million. However, overall teledensity slipped from 85.69% to 85.04%. While urban subscriptions increased slightly, urban teledensity declined by 1.70%. Rural subscriptions also rose, but rural teledensity saw a minor dip.

    Wireless subscribers fell by 0.73%, with a net loss of 8.5 million users. Wireline connections, however, surged by 9.62% to 37.04 million, boosting wireline teledensity from 2.41% to 2.62%.

    The sector’s Gross Revenue (GR) grew by 10.72% to Rs 3.72 lakh crore, while Adjusted Gross Revenue (AGR) rose 12.02% to Rs 3.03 lakh crore. Spectrum Usage Charges and license fees also recorded significant increases.

    In the broadcasting sector, India had 918 permitted private satellite TV channels as of March 2025, with 333 pay channels (232 SD and 101 HD). Pay DTH subscribers declined to 56.92 million, down from 61.97 million the previous year.

    There were 388 operational private FM radio stations across 113 cities, operated by 33 broadcasters after a recent merger. Community Radio Stations also saw growth, increasing from 494 to 531.

    The full report is available on TRAI’s website (www.trai.gov.in).

     

  • MIL-OSI Asia-Pac: LCQ9: Regulation of medical devices

    Source: Hong Kong Government special administrative region

    LCQ9: Regulation of medical devices 
    Question:
     
         At present, Hong Kong has only put in place a voluntary Medical Device Administrative Control System (the System), and there is no legislation to regulate such devices. On the other hand, it is learnt that some merchants are promoting and marketing parallel-imported contact lenses on the Internet, but these products do not have any medical device labelling on their packaging boxes, or the labelling shows signs of alteration (e.g. “the unique device identifier” has been cut off or covered), thus making it difficult to identify whether the products belong to problematic batches, and the quality of such products cannot be guaranteed. In this connection, will the Government inform this Council:
     
    (1) given that contact lenses is a class II medical device under the system, of the Government’s control over the importation and sale (including online sale) of contact lens products;
     
    (2) of the number of reports and requests for assistance received by the Government in the past three years in relation to parallel-imported contact lenses, as well as the categories of such cases (e.g. improper packaging labels, discomfort after use, etc.); whether it has taken law enforcement actions against merchants who have made unauthorised alterations to the packaging information of contact lenses (including parallel-imported contact lenses); if so, of the details; if not, the reasons for that; and
     
    (3) as the Government indicated in June last year that it was conducting a comprehensive review of the proposed legislative framework for medical device regulation, whether the Government will draw up a concrete timetable for introducing legislative amendments to regulate the manufacture, importation, quality assurance, sale and post-sale follow-up of medical devices; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         In consultation with the Commerce and Economic Development Bureau, the Customs and Excise Department (C&ED) and the Department of Health (DH), the Health Bureau provides a consolidated reply to the question raised by Dr the Hon David Lam as follows:
     
         While there is not yet specific legislation to regulate medical devices in Hong Kong, some products are already regulated by existing pieces of legislation, such as the Pharmacy and Poisons Ordinance (Cap. 138), the Consumer Goods Safety Ordinance (CGSO) (Cap. 456) and the Trade Descriptions Ordinance (TDO) (Cap. 362) etc., depending on the characteristics and features of the products concerned.
     
         To safeguard public health, the DH has made reference to the recommendation of the Global Harmonization Task Force (now known as the International Medical Device Regulators Forum) and introduced the voluntary Medical Device Administrative Control System (MDACS) since 2004, under which a listing system for medical devices and traders as well as a post-market monitoring system for the products are put in place.  
     
         According to the prevailing MDACS, contact lenses are usually categorised as Class II (low-moderate risk) general medical devices. To apply for listing under the MDACS, a medical device must be proven to have met the requirements under the Essential Principles of Safety and Performance of Medical Devices that are adopted internationally. As for the listing system for traders (including local responsible person, local manufacturers, importers and distributors), traders must meet relevant requirements including holding a valid business registration certificate, maintaining a quality management system for supply of medical devices, and complying with post-market control for the products in order to hold them accountable for the safety of medical devices. Besides, a dedicated reporting system has been set up under the MDACS to handle the reporting of incidents pertaining to listed medical devices, with a view to enhancing protection for users via early detection of safety alerts.
     
         On the other hand, the C&ED is responsible for enforcing the CGSO and the TDO. The safety of consumer goods which are supplied for private use in Hong Kong, if not covered by other legislation, is subject to the regulation of the CGSO and its subsidiary legislation namely the Consumer Goods Safety Regulation (CGSR). This covers contact lenses as mentioned in the question.
     
         Pursuant to the CGSO, manufacturers, importers and suppliers should ensure that the consumer goods they supply are reasonably safe. The CGSR stipulates that any warning or caution marked on the package of consumer goods must be in both the English and the Chinese languages in a legible and conspicuous manner. Covering both goods and services, the TDO prohibits specified unfair trade practices deployed by traders against consumers, including false trade descriptions, misleading omissions, aggressive commercial practices, bait advertising, bait-and-switch and wrongly accepting payment, which are applicable to the commercial practices of both physical and online traders. 
     
         From 2022 to 2024, the C&ED did not receive any complaint on the product safety of contact lenses, but received six complaints of suspected contravention of the TDO. Upon investigation, five cases were closed due to insufficient evidence, with the remaining one under investigation. 
     
         Looking ahead, the DH has announced the establishment of the Hong Kong Centre for Medical Products Regulation (CMPR) by the end of 2026, with regulation of medical devices as part of its purview. The Government is taking forward preparatory work for the relevant legislation at full steam having regard to the latest international trends in regulation of medical devices in recent years, and will comprehensively review the proposed legislative framework. It is expected that the legislative proposal could be submitted to the Legislative Council within the next year so as to dovetail with the timetable for establishing the CMPR. Upon legislation, all medical devices supplied in Hong Kong, unless otherwise exempted, must be registered, thereby ensuring the compliance with relevant standards in safety, quality and performance. 
    Issued at HKT 15:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ9: Regulation of medical devices

    Source: Hong Kong Government special administrative region

    LCQ9: Regulation of medical devices 
    Question:
     
         At present, Hong Kong has only put in place a voluntary Medical Device Administrative Control System (the System), and there is no legislation to regulate such devices. On the other hand, it is learnt that some merchants are promoting and marketing parallel-imported contact lenses on the Internet, but these products do not have any medical device labelling on their packaging boxes, or the labelling shows signs of alteration (e.g. “the unique device identifier” has been cut off or covered), thus making it difficult to identify whether the products belong to problematic batches, and the quality of such products cannot be guaranteed. In this connection, will the Government inform this Council:
     
    (1) given that contact lenses is a class II medical device under the system, of the Government’s control over the importation and sale (including online sale) of contact lens products;
     
    (2) of the number of reports and requests for assistance received by the Government in the past three years in relation to parallel-imported contact lenses, as well as the categories of such cases (e.g. improper packaging labels, discomfort after use, etc.); whether it has taken law enforcement actions against merchants who have made unauthorised alterations to the packaging information of contact lenses (including parallel-imported contact lenses); if so, of the details; if not, the reasons for that; and
     
    (3) as the Government indicated in June last year that it was conducting a comprehensive review of the proposed legislative framework for medical device regulation, whether the Government will draw up a concrete timetable for introducing legislative amendments to regulate the manufacture, importation, quality assurance, sale and post-sale follow-up of medical devices; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         In consultation with the Commerce and Economic Development Bureau, the Customs and Excise Department (C&ED) and the Department of Health (DH), the Health Bureau provides a consolidated reply to the question raised by Dr the Hon David Lam as follows:
     
         While there is not yet specific legislation to regulate medical devices in Hong Kong, some products are already regulated by existing pieces of legislation, such as the Pharmacy and Poisons Ordinance (Cap. 138), the Consumer Goods Safety Ordinance (CGSO) (Cap. 456) and the Trade Descriptions Ordinance (TDO) (Cap. 362) etc., depending on the characteristics and features of the products concerned.
     
         To safeguard public health, the DH has made reference to the recommendation of the Global Harmonization Task Force (now known as the International Medical Device Regulators Forum) and introduced the voluntary Medical Device Administrative Control System (MDACS) since 2004, under which a listing system for medical devices and traders as well as a post-market monitoring system for the products are put in place.  
     
         According to the prevailing MDACS, contact lenses are usually categorised as Class II (low-moderate risk) general medical devices. To apply for listing under the MDACS, a medical device must be proven to have met the requirements under the Essential Principles of Safety and Performance of Medical Devices that are adopted internationally. As for the listing system for traders (including local responsible person, local manufacturers, importers and distributors), traders must meet relevant requirements including holding a valid business registration certificate, maintaining a quality management system for supply of medical devices, and complying with post-market control for the products in order to hold them accountable for the safety of medical devices. Besides, a dedicated reporting system has been set up under the MDACS to handle the reporting of incidents pertaining to listed medical devices, with a view to enhancing protection for users via early detection of safety alerts.
     
         On the other hand, the C&ED is responsible for enforcing the CGSO and the TDO. The safety of consumer goods which are supplied for private use in Hong Kong, if not covered by other legislation, is subject to the regulation of the CGSO and its subsidiary legislation namely the Consumer Goods Safety Regulation (CGSR). This covers contact lenses as mentioned in the question.
     
         Pursuant to the CGSO, manufacturers, importers and suppliers should ensure that the consumer goods they supply are reasonably safe. The CGSR stipulates that any warning or caution marked on the package of consumer goods must be in both the English and the Chinese languages in a legible and conspicuous manner. Covering both goods and services, the TDO prohibits specified unfair trade practices deployed by traders against consumers, including false trade descriptions, misleading omissions, aggressive commercial practices, bait advertising, bait-and-switch and wrongly accepting payment, which are applicable to the commercial practices of both physical and online traders. 
     
         From 2022 to 2024, the C&ED did not receive any complaint on the product safety of contact lenses, but received six complaints of suspected contravention of the TDO. Upon investigation, five cases were closed due to insufficient evidence, with the remaining one under investigation. 
     
         Looking ahead, the DH has announced the establishment of the Hong Kong Centre for Medical Products Regulation (CMPR) by the end of 2026, with regulation of medical devices as part of its purview. The Government is taking forward preparatory work for the relevant legislation at full steam having regard to the latest international trends in regulation of medical devices in recent years, and will comprehensively review the proposed legislative framework. It is expected that the legislative proposal could be submitted to the Legislative Council within the next year so as to dovetail with the timetable for establishing the CMPR. Upon legislation, all medical devices supplied in Hong Kong, unless otherwise exempted, must be registered, thereby ensuring the compliance with relevant standards in safety, quality and performance. 
    Issued at HKT 15:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ9: Regulation of medical devices

    Source: Hong Kong Government special administrative region

    LCQ9: Regulation of medical devices 
    Question:
     
         At present, Hong Kong has only put in place a voluntary Medical Device Administrative Control System (the System), and there is no legislation to regulate such devices. On the other hand, it is learnt that some merchants are promoting and marketing parallel-imported contact lenses on the Internet, but these products do not have any medical device labelling on their packaging boxes, or the labelling shows signs of alteration (e.g. “the unique device identifier” has been cut off or covered), thus making it difficult to identify whether the products belong to problematic batches, and the quality of such products cannot be guaranteed. In this connection, will the Government inform this Council:
     
    (1) given that contact lenses is a class II medical device under the system, of the Government’s control over the importation and sale (including online sale) of contact lens products;
     
    (2) of the number of reports and requests for assistance received by the Government in the past three years in relation to parallel-imported contact lenses, as well as the categories of such cases (e.g. improper packaging labels, discomfort after use, etc.); whether it has taken law enforcement actions against merchants who have made unauthorised alterations to the packaging information of contact lenses (including parallel-imported contact lenses); if so, of the details; if not, the reasons for that; and
     
    (3) as the Government indicated in June last year that it was conducting a comprehensive review of the proposed legislative framework for medical device regulation, whether the Government will draw up a concrete timetable for introducing legislative amendments to regulate the manufacture, importation, quality assurance, sale and post-sale follow-up of medical devices; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         In consultation with the Commerce and Economic Development Bureau, the Customs and Excise Department (C&ED) and the Department of Health (DH), the Health Bureau provides a consolidated reply to the question raised by Dr the Hon David Lam as follows:
     
         While there is not yet specific legislation to regulate medical devices in Hong Kong, some products are already regulated by existing pieces of legislation, such as the Pharmacy and Poisons Ordinance (Cap. 138), the Consumer Goods Safety Ordinance (CGSO) (Cap. 456) and the Trade Descriptions Ordinance (TDO) (Cap. 362) etc., depending on the characteristics and features of the products concerned.
     
         To safeguard public health, the DH has made reference to the recommendation of the Global Harmonization Task Force (now known as the International Medical Device Regulators Forum) and introduced the voluntary Medical Device Administrative Control System (MDACS) since 2004, under which a listing system for medical devices and traders as well as a post-market monitoring system for the products are put in place.  
     
         According to the prevailing MDACS, contact lenses are usually categorised as Class II (low-moderate risk) general medical devices. To apply for listing under the MDACS, a medical device must be proven to have met the requirements under the Essential Principles of Safety and Performance of Medical Devices that are adopted internationally. As for the listing system for traders (including local responsible person, local manufacturers, importers and distributors), traders must meet relevant requirements including holding a valid business registration certificate, maintaining a quality management system for supply of medical devices, and complying with post-market control for the products in order to hold them accountable for the safety of medical devices. Besides, a dedicated reporting system has been set up under the MDACS to handle the reporting of incidents pertaining to listed medical devices, with a view to enhancing protection for users via early detection of safety alerts.
     
         On the other hand, the C&ED is responsible for enforcing the CGSO and the TDO. The safety of consumer goods which are supplied for private use in Hong Kong, if not covered by other legislation, is subject to the regulation of the CGSO and its subsidiary legislation namely the Consumer Goods Safety Regulation (CGSR). This covers contact lenses as mentioned in the question.
     
         Pursuant to the CGSO, manufacturers, importers and suppliers should ensure that the consumer goods they supply are reasonably safe. The CGSR stipulates that any warning or caution marked on the package of consumer goods must be in both the English and the Chinese languages in a legible and conspicuous manner. Covering both goods and services, the TDO prohibits specified unfair trade practices deployed by traders against consumers, including false trade descriptions, misleading omissions, aggressive commercial practices, bait advertising, bait-and-switch and wrongly accepting payment, which are applicable to the commercial practices of both physical and online traders. 
     
         From 2022 to 2024, the C&ED did not receive any complaint on the product safety of contact lenses, but received six complaints of suspected contravention of the TDO. Upon investigation, five cases were closed due to insufficient evidence, with the remaining one under investigation. 
     
         Looking ahead, the DH has announced the establishment of the Hong Kong Centre for Medical Products Regulation (CMPR) by the end of 2026, with regulation of medical devices as part of its purview. The Government is taking forward preparatory work for the relevant legislation at full steam having regard to the latest international trends in regulation of medical devices in recent years, and will comprehensively review the proposed legislative framework. It is expected that the legislative proposal could be submitted to the Legislative Council within the next year so as to dovetail with the timetable for establishing the CMPR. Upon legislation, all medical devices supplied in Hong Kong, unless otherwise exempted, must be registered, thereby ensuring the compliance with relevant standards in safety, quality and performance. 
    Issued at HKT 15:30

    NNNN

    MIL OSI Asia Pacific News –

  • European heatwave caused 2,300 deaths, scientists estimate

    Source: Government of India

    Source: Government of India (4)

    Around 2,300 people died of heat-related causes across 12 European cities during the severe heatwave that ended last week, according to a rapid scientific analysis published on Wednesday.

    The study targeted the 10 days, ending July 2, during which large parts of Western Europe were hit by extreme heat, with temperatures breaching 40 degrees Celsius (104°F) in Spain and wildfires breaking out in France.

    Of the 2,300 people estimated to have died during this period, 1,500 deaths were linked to climate change, which made the heatwave more severe, according to the study conducted by scientists at Imperial College London and the London School of Hygiene and Tropical Medicine.

    “Climate change has made it significantly hotter than it would have been, which in turn makes it a lot more dangerous,” said Dr Ben Clarke, a researcher at Imperial College London.

    The study covered 12 cities including Barcelona, Madrid, London and Milan, where the researchers said climate change had increased heatwave temperatures by up to 4 degrees Celsius.

    The researchers used established epidemiological models and historical mortality data to estimate the death toll, which reflects deaths where heat was the underlying reason for mortality, including if exposure exacerbated pre-existing health conditions.

    The scientists said they used peer-reviewed methods to quickly produce the estimated death toll, because most heat-related deaths are not officially reported and some governments do not release this data.

    Last month was the planet’s third-hottest June on record, behind the same month in 2024 and 2023, the EU’s Copernicus Climate Change Service said in a monthly bulletin on Wednesday.

    Western Europe experienced its warmest June on record, with much of the region experiencing “very strong heat stress” – defined by conditions that feel like a temperature of 38 degrees Celsius or more, Copernicus said.

    “In a warming world, heatwaves are likely to become more frequent, more intense and impact more people across Europe,” said Samantha Burgess, Copernicus’ strategic lead for climate.

    Researchers from European health institutes reported in 2023 that as many as 61,000 people may have died in Europe’s sweltering heatwaves in 2022, according to new research, suggesting countries’ heat preparedness efforts are falling fatally short.

    The build-up of greenhouse gas emissions in the atmosphere – which mostly come from the burning of fossil fuels – means the planet’s average temperature has increased over time. This increase in baseline temperatures means that when a heatwave comes, temperatures can surge to higher peaks.

    (Reuters)

  • India set to explore over 2.5 lakh sq km in one of the largest offshore energy efforts

    Source: Government of India

    Source: Government of India (4)

    In one of the world’s largest offshore energy exploration initiatives, India is set to explore more than 2.5 lakh square kilometres under the Open Acreage Licensing Programme (OALP) Round X, Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Wednesday.

    “We are ready to enter a new era of energy… In the field of oil and gas exploration and production, there are no longer obstacles, only possibilities,” the minister said in a post on X.

    Hardeep Singh Puri is currently attending a meeting of the Offshore Energy Cluster in Bergen, Norway.

    “The bold decision taken by Prime Minister Narendra Modi on the ‘no-go’ area is not only strengthening the country’s energy security but also preparing India to lead a major transformation in the energy sector,” he added.

    The Union Minister also met Kristian Sorensen, CEO of BW LPG, the world’s leading owner and operator of LPG vessels, which owns and operates Very Large Gas Carriers (VLGCs) with a total carrying capacity of over 4 million CBM.

    “The company is among the leaders in LPG shipping, accounting for 20 per cent of LPG imports into India. During our meeting in Oslo, we discussed ways to further strengthen the collaboration between BW LPG and Indian energy companies,” Puri said.

    Meanwhile, the oil and gas blocks being offered under the OALP have already attracted interest from both global and domestic energy players. Round X is expected to set new benchmarks for participation and investment.

    The Petroleum Ministry has also invited feedback and suggestions on the Draft Petroleum and Natural Gas Rules, the Model Revenue Sharing Contract (MRSC), and the Petroleum Lease by July 17, 2025, as part of India’s push to accelerate the oil and gas sector.

    Hardeep Puri is scheduled to engage with ministers, officials and industry leaders at ‘Urja Varta 2025’ at Bharat Mandapam on July 17, ahead of India’s Round X of exploration and production bidding for oil and gas blocks, which is among the largest globally.

    —IANS

  • MIL-OSI: 21Shares Launches XDC Network ETP on Euronext

    Source: GlobeNewswire (MIL-OSI)

    New product offers regulated access to one of the most promising blockchain networks in global trade finance

    Zurich, 9 July 2025 – 21Shares, one of the world’s leading issuers of cryptocurrency exchange-traded products (ETPs), today announced the launch of the 21Shares XDC Network ETP (ticker: XDCN), now listed on Euronext Paris and Amsterdam. The physically backed ETP provides investors with institutional-grade access to the XDC Network, a blockchain purpose-built to modernise global trade through tokenisation and digitisation of real-world assets.

    Exchange Product Name Ticker ISIN Fee
    Euronext Paris and Euronext Amsterdam 21Shares XDC Network ETP XDCN CH1464217285 2.50%

    The XDC Network has rapidly emerged as a key infrastructure layer for trade finance and cross-border payments. Its integration with financial messaging standards such as SWIFT and ISO 20022 makes it a compelling choice for institutional adoption. Backed by strategic partnerships with industry players like Deutsche Telekom, SBI Japan, and Archax, the XDC ecosystem is bridging the gap between traditional finance and decentralised networks.

    “XDC stands at the intersection of blockchain innovation and real-world utility,” said Mandy Chiu, Head of Financial Product Development at 21Shares. “As global finance begins to embrace tokenised assets, we’re proud to offer investors a regulated way to gain exposure to this critical infrastructure.”

    “XDC Network is a fast, compliant settlement layer for global payments and tokenized real-world assets – and this ETP brings that vision to life,” said Ritesh Kakkad, Co-Founder of XDC Network. “This ETP launch represents a significant milestone in XDC Network’s journey toward mainstream institutional adoption,” said Ziv Keinan, Head of Markets and Partnerships at XDC Network. “By partnering with 21Shares to bring regulated exposure to European investors, we’re enabling traditional financial institutions to participate in the future of payment and trade finance infrastructure. This product validates XDC’s position as the blockchain of choice for real-world asset tokenization and cross-border payment solutions.”

    The 21Shares XDC Network ETP (ISIN: CH1464217285) is denominated in USD (Euronext Amsterdam) and EUR (Euronext Paris), with a management fee of 2.50%. It is fully collateralised by the underlying asset and held in institutional-grade cold storage.

    For more information, please visit: www.21shares.com

    Notes to editors

    About 21Shares

    21Shares is one of the world’s leading cryptocurrency exchange traded product providers and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions.

    21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com.

    Media Contact
    Matteo Valli
    matteo.valli@21shares.com

    About XDC Network
    XDC Network is an enterprise-grade, EVM-compatible Layer 1 blockchain protocol designed to revolutionize global trade finance through the tokenization of real-world assets and financial instruments. Since its origins in 2017, XDC Network has built a distributed community of developers and enterprises using its technology for efficient data storage, asset exchange, and decentralized applications. The network supports smart contracts, offers 2-second transaction finality, and maintains compatibility with Ethereum tools while delivering significantly lower costs and energy consumption.

    DISCLAIMER

    This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG in any jurisdiction. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever or for any other purpose in any jurisdiction. Nothing in this document should be considered investment advice.

    This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful.

    This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States. Neither the US Securities and Exchange Commission nor any securities regulatory authority of any state or other jurisdiction of the United States has approved or disapproved of an investment in the securities or passed on the accuracy or adequacy of the contents of this presentation. Any representation to the contrary is a criminal offence in the United States.

    Within the United Kingdom, this document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iii) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (iv) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

    Exclusively for potential investors in any EEA Member State that has implemented the Prospectus Regulation (EU) 2017/1129 the Issuer’s Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com.

    The approval of the Issuer’s Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the Issuer’s Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.

    This document constitutes advertisement within the meaning of the Prospectus Regulation (EU) 2017/1129 and the Swiss Financial Services Act (the “FinSA”) and not a prospectus. The 2024 Base Prospectus of 21Shares AG has been deposited pursuant to article 54(2) FinSA with BX Swiss AG in its function as Swiss prospectus review body within the meaning of article 52 FinSA. The 2024 Base Prospectus and the key information document for any products may be obtained at 21Shares AG’s website (https://21shares.com/ir/prospectus or https://21shares.com/ir/kids).

    ###

    The MIL Network –

  • MIL-OSI: 21Shares Launches XDC Network ETP on Euronext

    Source: GlobeNewswire (MIL-OSI)

    New product offers regulated access to one of the most promising blockchain networks in global trade finance

    Zurich, 9 July 2025 – 21Shares, one of the world’s leading issuers of cryptocurrency exchange-traded products (ETPs), today announced the launch of the 21Shares XDC Network ETP (ticker: XDCN), now listed on Euronext Paris and Amsterdam. The physically backed ETP provides investors with institutional-grade access to the XDC Network, a blockchain purpose-built to modernise global trade through tokenisation and digitisation of real-world assets.

    Exchange Product Name Ticker ISIN Fee
    Euronext Paris and Euronext Amsterdam 21Shares XDC Network ETP XDCN CH1464217285 2.50%

    The XDC Network has rapidly emerged as a key infrastructure layer for trade finance and cross-border payments. Its integration with financial messaging standards such as SWIFT and ISO 20022 makes it a compelling choice for institutional adoption. Backed by strategic partnerships with industry players like Deutsche Telekom, SBI Japan, and Archax, the XDC ecosystem is bridging the gap between traditional finance and decentralised networks.

    “XDC stands at the intersection of blockchain innovation and real-world utility,” said Mandy Chiu, Head of Financial Product Development at 21Shares. “As global finance begins to embrace tokenised assets, we’re proud to offer investors a regulated way to gain exposure to this critical infrastructure.”

    “XDC Network is a fast, compliant settlement layer for global payments and tokenized real-world assets – and this ETP brings that vision to life,” said Ritesh Kakkad, Co-Founder of XDC Network. “This ETP launch represents a significant milestone in XDC Network’s journey toward mainstream institutional adoption,” said Ziv Keinan, Head of Markets and Partnerships at XDC Network. “By partnering with 21Shares to bring regulated exposure to European investors, we’re enabling traditional financial institutions to participate in the future of payment and trade finance infrastructure. This product validates XDC’s position as the blockchain of choice for real-world asset tokenization and cross-border payment solutions.”

    The 21Shares XDC Network ETP (ISIN: CH1464217285) is denominated in USD (Euronext Amsterdam) and EUR (Euronext Paris), with a management fee of 2.50%. It is fully collateralised by the underlying asset and held in institutional-grade cold storage.

    For more information, please visit: www.21shares.com

    Notes to editors

    About 21Shares

    21Shares is one of the world’s leading cryptocurrency exchange traded product providers and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions.

    21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com.

    Media Contact
    Matteo Valli
    matteo.valli@21shares.com

    About XDC Network
    XDC Network is an enterprise-grade, EVM-compatible Layer 1 blockchain protocol designed to revolutionize global trade finance through the tokenization of real-world assets and financial instruments. Since its origins in 2017, XDC Network has built a distributed community of developers and enterprises using its technology for efficient data storage, asset exchange, and decentralized applications. The network supports smart contracts, offers 2-second transaction finality, and maintains compatibility with Ethereum tools while delivering significantly lower costs and energy consumption.

    DISCLAIMER

    This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG in any jurisdiction. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever or for any other purpose in any jurisdiction. Nothing in this document should be considered investment advice.

    This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful.

    This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States. Neither the US Securities and Exchange Commission nor any securities regulatory authority of any state or other jurisdiction of the United States has approved or disapproved of an investment in the securities or passed on the accuracy or adequacy of the contents of this presentation. Any representation to the contrary is a criminal offence in the United States.

    Within the United Kingdom, this document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iii) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (iv) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

    Exclusively for potential investors in any EEA Member State that has implemented the Prospectus Regulation (EU) 2017/1129 the Issuer’s Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com.

    The approval of the Issuer’s Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the Issuer’s Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.

    This document constitutes advertisement within the meaning of the Prospectus Regulation (EU) 2017/1129 and the Swiss Financial Services Act (the “FinSA”) and not a prospectus. The 2024 Base Prospectus of 21Shares AG has been deposited pursuant to article 54(2) FinSA with BX Swiss AG in its function as Swiss prospectus review body within the meaning of article 52 FinSA. The 2024 Base Prospectus and the key information document for any products may be obtained at 21Shares AG’s website (https://21shares.com/ir/prospectus or https://21shares.com/ir/kids).

    ###

    The MIL Network –

  • New deadlines for fuel ban on end-of-life vehicles in Delhi-NCR

    Source: Government of India

    Source: Government of India (4)

    The Commission for Air Quality Management (CAQM) on Tuesday extended the deadline for enforcement of its direction to deny fuel to End-of-Life (EoL) vehicles in Delhi-NCR. The decision was taken during the Commission’s 24th meeting, following concerns raised by the Delhi Government (GNCTD) regarding technological and operational challenges in its implementation.

    As per the amended clause of Statutory Direction No. 89, fuelling will be denied to EoL vehicles identified through Automated Number Plate Recognition (ANPR) systems or other mechanisms from November 1, 2025, in Delhi and five high vehicle density districts of NCR – Gurugram, Faridabad, Ghaziabad, Gautam Budh Nagar, and Sonipat. The directive will come into force across the rest of the NCR from April 1, 2026.

    GNCTD, in communications dated July 3 and July 7, 2025, flagged key issues, including incomplete integration of the ANPR system with neighbouring state databases, technical glitches, and enforcement difficulties. The state also raised legal concerns about geographic inconsistency under the Motor Vehicles Act, 1988, and highlighted potential hardships for vehicle owners.

    CAQM acknowledged these concerns and emphasized the need for a uniform enforcement timeline to prevent loopholes. The communications highlighted the lack of integration between the system and vehicle databases of neighbouring states, warning that this could lead to ‘fuel tourism’ and the emergence of an illegal cross-border fuel market, as vehicles denied fuel in Delhi may cross state borders to refuel.

    Authorities were also reminded that EoL vehicles, once deregistered, are illegal for road use in Delhi-NCR and must be impounded when identified.

    The Transport Departments of Delhi and NCR states have been instructed to expedite ANPR system trials, ensure personnel training, and launch awareness campaigns for fuel station operators and the public. Agencies must report progress on EoL vehicle removal to the Commission monthly.

    This amendment provides additional time to resolve implementation gaps while reinforcing the CAQM’s commitment to phasing out polluting vehicles in the region.

  • New deadlines for fuel ban on end-of-life vehicles in Delhi-NCR

    Source: Government of India

    Source: Government of India (4)

    The Commission for Air Quality Management (CAQM) on Tuesday extended the deadline for enforcement of its direction to deny fuel to End-of-Life (EoL) vehicles in Delhi-NCR. The decision was taken during the Commission’s 24th meeting, following concerns raised by the Delhi Government (GNCTD) regarding technological and operational challenges in its implementation.

    As per the amended clause of Statutory Direction No. 89, fuelling will be denied to EoL vehicles identified through Automated Number Plate Recognition (ANPR) systems or other mechanisms from November 1, 2025, in Delhi and five high vehicle density districts of NCR – Gurugram, Faridabad, Ghaziabad, Gautam Budh Nagar, and Sonipat. The directive will come into force across the rest of the NCR from April 1, 2026.

    GNCTD, in communications dated July 3 and July 7, 2025, flagged key issues, including incomplete integration of the ANPR system with neighbouring state databases, technical glitches, and enforcement difficulties. The state also raised legal concerns about geographic inconsistency under the Motor Vehicles Act, 1988, and highlighted potential hardships for vehicle owners.

    CAQM acknowledged these concerns and emphasized the need for a uniform enforcement timeline to prevent loopholes. The communications highlighted the lack of integration between the system and vehicle databases of neighbouring states, warning that this could lead to ‘fuel tourism’ and the emergence of an illegal cross-border fuel market, as vehicles denied fuel in Delhi may cross state borders to refuel.

    Authorities were also reminded that EoL vehicles, once deregistered, are illegal for road use in Delhi-NCR and must be impounded when identified.

    The Transport Departments of Delhi and NCR states have been instructed to expedite ANPR system trials, ensure personnel training, and launch awareness campaigns for fuel station operators and the public. Agencies must report progress on EoL vehicle removal to the Commission monthly.

    This amendment provides additional time to resolve implementation gaps while reinforcing the CAQM’s commitment to phasing out polluting vehicles in the region.

  • New deadlines for fuel ban on end-of-life vehicles in Delhi-NCR

    Source: Government of India

    Source: Government of India (4)

    The Commission for Air Quality Management (CAQM) on Tuesday extended the deadline for enforcement of its direction to deny fuel to End-of-Life (EoL) vehicles in Delhi-NCR. The decision was taken during the Commission’s 24th meeting, following concerns raised by the Delhi Government (GNCTD) regarding technological and operational challenges in its implementation.

    As per the amended clause of Statutory Direction No. 89, fuelling will be denied to EoL vehicles identified through Automated Number Plate Recognition (ANPR) systems or other mechanisms from November 1, 2025, in Delhi and five high vehicle density districts of NCR – Gurugram, Faridabad, Ghaziabad, Gautam Budh Nagar, and Sonipat. The directive will come into force across the rest of the NCR from April 1, 2026.

    GNCTD, in communications dated July 3 and July 7, 2025, flagged key issues, including incomplete integration of the ANPR system with neighbouring state databases, technical glitches, and enforcement difficulties. The state also raised legal concerns about geographic inconsistency under the Motor Vehicles Act, 1988, and highlighted potential hardships for vehicle owners.

    CAQM acknowledged these concerns and emphasized the need for a uniform enforcement timeline to prevent loopholes. The communications highlighted the lack of integration between the system and vehicle databases of neighbouring states, warning that this could lead to ‘fuel tourism’ and the emergence of an illegal cross-border fuel market, as vehicles denied fuel in Delhi may cross state borders to refuel.

    Authorities were also reminded that EoL vehicles, once deregistered, are illegal for road use in Delhi-NCR and must be impounded when identified.

    The Transport Departments of Delhi and NCR states have been instructed to expedite ANPR system trials, ensure personnel training, and launch awareness campaigns for fuel station operators and the public. Agencies must report progress on EoL vehicle removal to the Commission monthly.

    This amendment provides additional time to resolve implementation gaps while reinforcing the CAQM’s commitment to phasing out polluting vehicles in the region.

  • ICC issues arrest warrants for Taliban leaders over persecution of women

    Source: Government of India

    Source: Government of India (4)

    The International Criminal Court (ICC) on Tuesday issued arrest warrants for two Taliban leaders in Afghanistan including supreme spiritual leader Haibatullah Akhundzada, accusing them of the persecution of women and girls.

    The ICC said there were reasonable grounds to believe that Akhundzada and Abdul Hakim Haqqani, chief justice of the Taliban, had committed the crime against humanity of persecution on gender grounds against girls, women and other persons non-conforming with the Taliban’s policy on gender, gender identity or expression.

    Since the Islamist Taliban returned to power in 2021 it has clamped down on women’s rights, including limits to schooling, work and general independence in daily life.

    The Taliban condemned the warrants as an example of hostility towards Islam.

    “We neither recognise anything by the name of an international court nor do we consider ourselves bound by it,” the Taliban government’s spokesman, Zabihullah Mujahid, added in a statement.

    It is the first time judges of the ICC have issued a warrant on charges of gender persecution.

    “While the Taliban have imposed certain rules and prohibitions on the population as a whole, they have specifically targeted girls and women by reason of their gender, depriving them of fundamental rights and freedoms,” the court said.

    The full warrants and details on the specific incidents they are based on remain under seal to protect witnesses and victims, the court said.

    NGOs hailed the warrants and called on the international community to back the ICC’s work.

    “The international community should fully back the ICC in its critical work in Afghanistan and globally, including through concerted efforts to enforce the court’s warrants,” Human Rights Watch International Justice director Liz Evenson, said in a statement.

    The ICC has been under increased criticism from non-member states such as the United States, Israel and Russia.

    Last year the court issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for alleged war crimes and crimes against humanity during the Gaza conflict. The ICC also issued an arrest warrant for Russian President Vladimir Putin in 2023 on suspicion of deporting children from Ukraine.

    Neither Russia nor Israel is a member of the court and both deny the accusations and reject ICC jurisdiction.

    Last month the United States imposed sanctions on four ICC judges including two who were involved in a ruling that allowed prosecutors to open a formal investigation into war crimes and crimes against humanity in Afghanistan, including alleged crimes committed by American troops.

    The ICC said it was an attempt to undermine the independence of an international judicial institution that provides hope and justice to millions of victims.

    (Reuters)

  • National Fish Farmers Day 2025 to be celebrated in Bhubaneswar with launch of key fisheries initiatives

    Source: Government of India

    Source: Government of India (4)

    The Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry and Dairying (MoFAH&D), will celebrate National Fish Farmers Day 2025 on 10 July at the ICAR-Central Institute of Freshwater Aquaculture (CIFA) in Bhubaneswar.

    The occasion will be marked by the presence of Union Minister Rajiv Ranjan Singh, who also heads the Ministry of Panchayati Raj, along with Minister of State Prof. S.P. Singh Baghel and Minister of State George Kurian. Joining them will be Odisha’s Minister for Fisheries, Shri Gokulananda Mallick, to honour and support the contributions of fish farmers to the nation’s aquaculture and rural economy.

    National Fish Farmers Day is observed each year to honour the significant contributions of fish farmers, who play a crucial role in ensuring India’s food security, generating rural employment, and supporting the growth of a sustainable aquaculture sector. The day also pays tribute to the pioneering efforts of Professor Dr. Hiralal Chaudhury and Dr. K. H. Alikunhi, who, on this day in 1957, successfully demonstrated induced breeding in Indian Major Carps through the hypophysation technique—an innovation that revolutionized inland aquaculture in India.

    The celebration serves as a vital platform to recognize the contributions of fish farmers, entrepreneurs, and fishermen to the country’s fisheries sector. It encourages dialogue on sustainable fisheries management and the adoption of modern aquaculture techniques. Fish farmers have played a transformative role in advancing fish productivity, conserving aquatic resources, and meeting the growing demand for fish-based protein across the nation.

    The fisheries sector in India has seen remarkable progress in recent years. Since 2015, the Government of India has invested over ₹38,500 crore in the sector. As a result, national fish production has witnessed an impressive 104% increase, rising from 95.79 lakh tonnes in FY 2013-14 to 195 lakh tonnes in FY 2024-25. Inland fisheries and aquaculture alone have experienced 140% growth, underscoring the potential of India’s water resources and the impact of focused policy initiatives.

    India’s seafood exports have also seen tremendous success, crossing ₹60,500 crore mark and reaffirming the country’s global leadership in shrimp exports. Shrimp production has surged by 270% over the past decade, creating extensive employment opportunities and empowering fishing communities across the country.

    As part of the National Fish Farmers Day celebrations, the Hon’ble Union Minister will launch several key initiatives aimed at furthering the sector’s development. These include the announcement of new Fisheries Clusters, release of the ICAR training calendar, and the unveiling of guidelines on seed certification and hatchery operations to ensure quality control, standardization, and capacity building. Fisheries beneficiaries, including traditional fishers, cooperatives and Fish Farmers Producer Organizations (FFPOs), Kisan Credit Card holders, and emerging fisheries start-ups, will be felicitated during the event.

    In addition, virtual foundation stones will be laid and several PMMSY-supported fisheries projects will be inaugurated, reflecting the government’s commitment to infrastructure development, entrepreneurship, and inclusive growth in the sector. The Union Minister is also scheduled to deliver a keynote address, outlining sectoral progress and discussing new opportunities, best practices, and innovations in Indian fisheries.

  • National Fish Farmers Day 2025 to be celebrated in Bhubaneswar with launch of key fisheries initiatives

    Source: Government of India

    Source: Government of India (4)

    The Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry and Dairying (MoFAH&D), will celebrate National Fish Farmers Day 2025 on 10 July at the ICAR-Central Institute of Freshwater Aquaculture (CIFA) in Bhubaneswar.

    The occasion will be marked by the presence of Union Minister Rajiv Ranjan Singh, who also heads the Ministry of Panchayati Raj, along with Minister of State Prof. S.P. Singh Baghel and Minister of State George Kurian. Joining them will be Odisha’s Minister for Fisheries, Shri Gokulananda Mallick, to honour and support the contributions of fish farmers to the nation’s aquaculture and rural economy.

    National Fish Farmers Day is observed each year to honour the significant contributions of fish farmers, who play a crucial role in ensuring India’s food security, generating rural employment, and supporting the growth of a sustainable aquaculture sector. The day also pays tribute to the pioneering efforts of Professor Dr. Hiralal Chaudhury and Dr. K. H. Alikunhi, who, on this day in 1957, successfully demonstrated induced breeding in Indian Major Carps through the hypophysation technique—an innovation that revolutionized inland aquaculture in India.

    The celebration serves as a vital platform to recognize the contributions of fish farmers, entrepreneurs, and fishermen to the country’s fisheries sector. It encourages dialogue on sustainable fisheries management and the adoption of modern aquaculture techniques. Fish farmers have played a transformative role in advancing fish productivity, conserving aquatic resources, and meeting the growing demand for fish-based protein across the nation.

    The fisheries sector in India has seen remarkable progress in recent years. Since 2015, the Government of India has invested over ₹38,500 crore in the sector. As a result, national fish production has witnessed an impressive 104% increase, rising from 95.79 lakh tonnes in FY 2013-14 to 195 lakh tonnes in FY 2024-25. Inland fisheries and aquaculture alone have experienced 140% growth, underscoring the potential of India’s water resources and the impact of focused policy initiatives.

    India’s seafood exports have also seen tremendous success, crossing ₹60,500 crore mark and reaffirming the country’s global leadership in shrimp exports. Shrimp production has surged by 270% over the past decade, creating extensive employment opportunities and empowering fishing communities across the country.

    As part of the National Fish Farmers Day celebrations, the Hon’ble Union Minister will launch several key initiatives aimed at furthering the sector’s development. These include the announcement of new Fisheries Clusters, release of the ICAR training calendar, and the unveiling of guidelines on seed certification and hatchery operations to ensure quality control, standardization, and capacity building. Fisheries beneficiaries, including traditional fishers, cooperatives and Fish Farmers Producer Organizations (FFPOs), Kisan Credit Card holders, and emerging fisheries start-ups, will be felicitated during the event.

    In addition, virtual foundation stones will be laid and several PMMSY-supported fisheries projects will be inaugurated, reflecting the government’s commitment to infrastructure development, entrepreneurship, and inclusive growth in the sector. The Union Minister is also scheduled to deliver a keynote address, outlining sectoral progress and discussing new opportunities, best practices, and innovations in Indian fisheries.

  • National Fish Farmers Day 2025 to be celebrated in Bhubaneswar with launch of key fisheries initiatives

    Source: Government of India

    Source: Government of India (4)

    The Department of Fisheries, under the Ministry of Fisheries, Animal Husbandry and Dairying (MoFAH&D), will celebrate National Fish Farmers Day 2025 on 10 July at the ICAR-Central Institute of Freshwater Aquaculture (CIFA) in Bhubaneswar.

    The occasion will be marked by the presence of Union Minister Rajiv Ranjan Singh, who also heads the Ministry of Panchayati Raj, along with Minister of State Prof. S.P. Singh Baghel and Minister of State George Kurian. Joining them will be Odisha’s Minister for Fisheries, Shri Gokulananda Mallick, to honour and support the contributions of fish farmers to the nation’s aquaculture and rural economy.

    National Fish Farmers Day is observed each year to honour the significant contributions of fish farmers, who play a crucial role in ensuring India’s food security, generating rural employment, and supporting the growth of a sustainable aquaculture sector. The day also pays tribute to the pioneering efforts of Professor Dr. Hiralal Chaudhury and Dr. K. H. Alikunhi, who, on this day in 1957, successfully demonstrated induced breeding in Indian Major Carps through the hypophysation technique—an innovation that revolutionized inland aquaculture in India.

    The celebration serves as a vital platform to recognize the contributions of fish farmers, entrepreneurs, and fishermen to the country’s fisheries sector. It encourages dialogue on sustainable fisheries management and the adoption of modern aquaculture techniques. Fish farmers have played a transformative role in advancing fish productivity, conserving aquatic resources, and meeting the growing demand for fish-based protein across the nation.

    The fisheries sector in India has seen remarkable progress in recent years. Since 2015, the Government of India has invested over ₹38,500 crore in the sector. As a result, national fish production has witnessed an impressive 104% increase, rising from 95.79 lakh tonnes in FY 2013-14 to 195 lakh tonnes in FY 2024-25. Inland fisheries and aquaculture alone have experienced 140% growth, underscoring the potential of India’s water resources and the impact of focused policy initiatives.

    India’s seafood exports have also seen tremendous success, crossing ₹60,500 crore mark and reaffirming the country’s global leadership in shrimp exports. Shrimp production has surged by 270% over the past decade, creating extensive employment opportunities and empowering fishing communities across the country.

    As part of the National Fish Farmers Day celebrations, the Hon’ble Union Minister will launch several key initiatives aimed at furthering the sector’s development. These include the announcement of new Fisheries Clusters, release of the ICAR training calendar, and the unveiling of guidelines on seed certification and hatchery operations to ensure quality control, standardization, and capacity building. Fisheries beneficiaries, including traditional fishers, cooperatives and Fish Farmers Producer Organizations (FFPOs), Kisan Credit Card holders, and emerging fisheries start-ups, will be felicitated during the event.

    In addition, virtual foundation stones will be laid and several PMMSY-supported fisheries projects will be inaugurated, reflecting the government’s commitment to infrastructure development, entrepreneurship, and inclusive growth in the sector. The Union Minister is also scheduled to deliver a keynote address, outlining sectoral progress and discussing new opportunities, best practices, and innovations in Indian fisheries.