NewzIntel.com

Category: Asia

  • Musk vows to punish lawmakers who back Trump’s spending bill

    Source: Government of India

    Source: Government of India (4)

    Billionaire Elon Musk on Monday renewed his criticism of U.S. President Donald Trump’s sweeping tax-cut and spending bill, vowing to unseat lawmakers who backed it after campaigning on limiting government spending.

    After weeks of relative silence following a feud with Trump over the legislation, Musk rejoined the debate on Saturday as the Senate took up the package, calling it “utterly insane and destructive” in a post on social media platform X.

    On Monday, he ramped up his criticism, saying lawmakers who had campaigned on cutting spending but backed the bill “should hang their heads in shame!”

    “And they will lose their primary next year if it is the last thing I do on this Earth,” Musk said.

    The Tesla and SpaceX CEO called again for a new political party, saying the bill’s massive spending indicated “that we live in a one-party country – the PORKY PIG PARTY!!”

    “Time for a new political party that actually cares about the people,” he wrote.

    Musk’s criticism of the bill has caused a rift in his relationship with Trump, marking a dramatic shift after the tech billionaire spent nearly $300 million on Trump’s re-election campaign and led the administration’s controversial Department of Government Efficiency (DOGE), a federal cost-cutting initiative.

    Musk, the world’s richest man, has argued that the legislation would greatly increase the national debt and erase the savings he says he has achieved through DOGE.

    It remains unclear how much sway Musk has over Congress or what effect his opinions might have on the bill’s passage. But Republicans have expressed concern that his on-again, off-again feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.

    The rift has also led to volatility for Tesla, with shares of the company seeing wild price swings that erased approximately $150 billion of its market value, though it has since recovered.

    (Reuters)

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

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 6,12,012.57 5.41 3.50-5.80
         I. Call Money 13,225.85 5.50 4.75-5.70
         II. Triparty Repo 3,96,463.00 5.42 5.10-5.52
         III. Market Repo 2,00,456.17 5.38 3.50-5.75
         IV. Repo in Corporate Bond 1,867.55 5.67 5.64-5.80
    B. Term Segment      
         I. Notice Money** 62.73 5.19 5.00-5.25
         II. Term Money@@ 250.00 – 5.80-5.80
         III. Triparty Repo 7,727.30 5.52 5.25-5.70
         IV. Market Repo 0.00 – –
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Mon, 30/06/2025 1 Tue, 01/07/2025 5,705.00 5.75
    4. SDFΔ# Mon, 30/06/2025 1 Tue, 01/07/2025 1,89,751.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,84,046.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Fri, 27/06/2025 7 Fri, 04/07/2025 84,975.00 5.49
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,247.29  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -77,727.71  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -2,61,773.71  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on June 30, 2025 10,15,732.28  
         (ii) Average daily cash reserve requirement for the fortnight ending July 11, 2025 9,52,318.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ June 30, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on June 13, 2025 5,62,116.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/632

    MIL OSI Global Banks –

  • MIL-OSI China: China imposes sanctions on former Philippine senator Francis Tolentino

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

    China decided to impose sanctions on former Philippine senator Francis Tolentino for his egregious conduct on China-related issues and prohibit him from entering the Chinese mainland, Hong Kong and Macao, a foreign ministry spokesperson said on Tuesday.

    For quite some time, driven by selfish interests, a handful of anti-China politicians in the Philippines have made malicious remarks and moves on issues related to China that are detrimental to China’s interests and China-Philippines relations, the spokesperson said.

    The Chinese government is firmly resolved to defend national sovereignty, security, and development interests, the spokesperson noted.

    MIL OSI China News –

  • MIL-OSI Security: U.S., Malaysian forces conclude Bersama Warrior 25

    Source: United States INDO PACIFIC COMMAND

    KUANTAN, Malaysia — Service members with the Malaysian Armed Forces (MAF), U.S. Indo-Pacific Command, and U.S. joint forces – including active duty and reserve components – concluded Bersama Warrior 25 on June 26, following 10 days of bilateral staff integration and scenario-based planning in Kuantan, Malaysia.

    MIL Security OSI –

  • MIL-OSI Asia-Pac: 427 people recognised in honours list

    Source: Hong Kong Information Services

    The Chief Executive has awarded 427 people in this year’s Honours List in recognition of their significant contributions to Hong Kong.

    Three people – Lawrence Fung Siu-por, Charles Yeung Chun-kam and Prof John Leong Chi-yan – received the Grand Bauhinia Medal.

    Twenty people received the Gold Bauhinia Star, including Secretary for Justice Paul Lam and former Commissioner of Police Siu Chak-yee. Twenty-nine people received the Silver Bauhinia Star and 46 the Bronze Bauhinia Star.

    Chief Executive John Lee extended his congratulations to all award recipients and expressed gratitude for their significant contributions, hoping that they will continue to excel in their own fields and serve the community. 

    In addition to thanking nine officers for their outstanding contributions to safeguarding national security, he also commended two citizens for bravely saving a number of trapped people during the No. 3 alarm fire at New Lucky House in Jordan in April last year.

    Furthermore, Mr Lee expressed gratitude for the Hong Kong Special Administrative Region Search & Rescue Team deployed to assist in the search and rescue work in the quake-stricken areas of Myanmar in March and April this year.

    The awards presentation ceremony will be held later this year.

    Moreover, the Chief Executive has appointed a total of 66 people as Justices of the Peace.

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for July 1, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on July 1, 2025.

    Trauma is carried in your DNA. But science reveals a more complicated story
    Source: The Conversation (Au and NZ) – By Tara-Lyn Camilleri, Postdoctoral researcher of transgenerational effects, Monash University Radu Bercan/Shutterstock As war continues to rage in Gaza and Ukraine, there is concern about how the related trauma might be transmitted to future generations of people in those regions. More generally, interest in the idea of transgenerational

    Aamir Khan’s big screen comeback, Sitaare Zameen Par, features an all-star neurodivergent cast – a Bollywood first
    Source: The Conversation (Au and NZ) – By Yanyan Hong, PhD Candidate in Communication, Media and Film Studies, University of Adelaide Bharti Dubey/X Bollywood star Aamir Khan’s return to the big screen after a three-year hiatus has been far from ordinary. Sitaare Zameen Par (2025) which translates to “stars on Earth”, is the first major

    The rising rate of type 2 diabetes in young New Zealanders is becoming a health crisis
    Source: The Conversation (Au and NZ) – By Lynne Chepulis, Associate Professor, Health Sciences, University of Waikato vadimguzhva/Getty Images No longer just a condition of middle age, type 2 diabetes is increasingly affecting children, teenagers and young adults in New Zealand. And our health system is nowhere near ready to manage this surge. Type 2

    Understanding the ‘Slopocene’: how the failures of AI can reveal its inner workings
    Source: The Conversation (Au and NZ) – By Daniel Binns, Senior Lecturer, Media & Communication, RMIT University AI-generated with Leonardo Phoenix 1.0. Author supplied Some say it’s em dashes, dodgy apostrophes, or too many emoji. Others suggest that maybe the word “delve” is a chatbot’s calling card. It’s no longer the sight of morphed bodies

    Trump’s worldview is causing a global shift of alliances – what does this mean for nations in the middle?
    Source: The Conversation (Au and NZ) – By Dilnoza Ubaydullaeva, Lecturer in Government – National Security College, Australian National University Since US President Donald Trump took office this year, one theme has come up time and again: his rule is a threat to the US-led international order. As the US political scientist John Mearsheimer famously

    We have drugs to manage HIV. So why are we spending millions looking for cures?
    Source: The Conversation (Au and NZ) – By Bridget Haire, Associate Professor, Public Health Ethics, School of Population Health, UNSW Sydney Alim Yakubov/Shutterstock Over the past three decades there have been amazing advances in treating and preventing HIV. It’s now a manageable infection. A person with HIV who takes HIV medicine consistently, before their immune

    Sexy K-pop demons, a human lie detector and shearers on strike: what to watch in July
    Source: The Conversation (Au and NZ) – By John Mickel, Adjunct Associate Professor, School of Justice, Queensland University of Technology Tomorrow marks exactly halfway through 2025. Luckily there’s a suite of streaming options to help get you through the mid-year bump. We’ve got iconic classics celebrating major anniversaries, as well as an animated K-Pop spectacle,

    Fiji human rights coalition challenges Rabuka over decolonisation ‘unfinished business’
    Asia Pacific Report The NGO Coalition on Human Rights in Fiji (NGOCHR) has called on Prime Minister Sitiveni Rabuka as the new chair of the Melanesian Spearhead Group (MSG) to “uphold justice, stability and security” for Kanaky New Caledonia and West Papua. In a statement today after last week’s MSG leaders’ summit in Suva, the

    Battle of Ideas: Political Lawfare and the Destitution of Pedro Castillo
    Source: Council on Hemispheric Affairs – Analysis-Reportage COHA On June 29, Radio Negro Primero, a community-based station in Venezuela, and affiliates, will examine the jailing and prosecution of Peru’s constitutional president, Pedro Castillo. The program, Battle of Ideas, hosted by William Camacaro (Senior Analyst for COHA) and Mary Dugarte (Venezuelan Journalist), will feature distinguished panelists:

    In Struggle and Solidarity: The Enduring Legacy of Joaquín Domínguez Parada
    Source: Council on Hemispheric Affairs – Analysis-Reportage By Fred Mills and Evelyn Gonzalez Mills Silver Spring, MD Joaquín Domínguez Parada, a renowned Salvadoran attorney and tireless advocate for refugees of war and persecution, passed away on Thursday, June 26, 2025, four days after his 77th birthday in El Salvador, leaving a legacy of love, integrity,

    Here’s how First Nations landholders can share the benefits of the NSW energy transition
    Source: The Conversation (Au and NZ) – By Heidi Norman, Professor of Australian and Aboriginal history, Faculty of Arts, Design and Architecture, Convenor: Indigenous Land & Justice Research Group, UNSW Sydney Hay Local Aboriginal Land Council staff and members with researchers and actuaries from Finity Consulting. UNSW Indigenous Land and Justice Research Group The shift

    Warmer seas are fuelling the dangerous ‘weather bomb’ about to hit NSW
    Source: The Conversation (Au and NZ) – By Steve Turton, Adjunct Professor of Environmental Geography, CQUniversity Australia Heavy surf and intense rains hit Sydney beaches during a 2020 East Coast Low. Lee Hulsman/Getty Right now, a severe storm likely to be the first significant east coast low in three years is developing off the coast

    ‘I’m just exhausted’: sexual harassment at work is still rife. These new laws would help
    Source: The Conversation (Au and NZ) – By Sarah Ailwood, Associate Professor, School of Law, University of Wollongong FG Trade/Getty Last week, the Australian Human Rights Commission launched a new report on sexual harassment, called Speaking From Experience. It includes the voices of more than 300 victim-survivors of workplace sexual harassment from vulnerable communities. In

    My shins hurt after running. Could it be shin splints?
    Source: The Conversation (Au and NZ) – By Krissy Kendall, Senior Lecturer in Exercise and Sports Science, Edith Cowan University lzf/Getty If you’ve started running for the first time, started again after a break, or your workout is more intense, you might have felt it. A dull, nagging ache down your shins after you exercise.

    Australia’s cutest mammal is now Australia’s cutest three mammals
    Source: The Conversation (Au and NZ) – By Cameron Dodd, PhD Student in Evolutionary Biology and Taxonomy, The University of Western Australia The long-eared kultarr (_A. auritus_) is the middle child in terms of body size, but it has by far the biggest ears. Ken Johnson Australia is home to more than 60 species of

    Occupational therapists tackle obstacles in the home, from support to cook a meal, to navigating public transport
    Source: The Conversation (Au and NZ) – By Danielle Hitch, Senior Lecturer in Occupational Therapy, Deakin University Occupational therapists (OTs) have been in the spotlight this month after the National Disability Insurance Agency (NDIA) froze NDIS payments for these services at $193.99 per hour for the sixth year. The NDIA also cut travel payments for

    Do you have Bitcoin? Be aware of the tax consequences of selling your investment
    Source: The Conversation (Au and NZ) – By Christina Allen, Senior lecturer, Curtin University Bitcoin is ubiquitous. It is impossible to open a social media stream or news source without encountering yet another mention of the topic. Many Australians have invested, hoping for a good return. But they may not have considered the tax consequences

    On her new album, Lorde creates pop at its purest – performative, playful and alive to paradox
    Source: The Conversation (Au and NZ) – By Rosemary Overell, Senior Lecturer in Communication Studies, University of Otago “✏️Describe the vibe” goes the demand to commenters underneath the YouTube video for Lorde’s latest single, “Hammer”. Fans form a flow; a “vibe check” in Zillenial parlance: The pure rawness … (@lynmariegm) A more raw true-to-self form

    Men traded wares – but women traded knowledge: what a new archeological study tells us about PNG sea trade
    Source: The Conversation (Au and NZ) – By Robert Skelly, Archaeologist, Monash University Women loading pots on a Motu lakatoi trading vessel, in this photograph published in 1887. J. W. Lindt Australia’s closest neighbour, Papua New Guinea, is a place of remarkable cultural diversity. Home to cultures speaking more than 800 languages, this region has

    Unsafe and unethical: bed shortages mean dementia patients with psychiatric symptoms are admitted to medical wards
    Source: The Conversation (Au and NZ) – By Cindy Towns, Senior Lecturer in General Medicine and Geriatrics, University of Otago Getty Images New Zealand’s mental health crisis is well documented in the government’s 2018 inquiry, He Ara Oranga, which shows one in five people experience mental illness or significant mental distress. However, an almost singular

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for July 1, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on July 1, 2025.

    Trauma is carried in your DNA. But science reveals a more complicated story
    Source: The Conversation (Au and NZ) – By Tara-Lyn Camilleri, Postdoctoral researcher of transgenerational effects, Monash University Radu Bercan/Shutterstock As war continues to rage in Gaza and Ukraine, there is concern about how the related trauma might be transmitted to future generations of people in those regions. More generally, interest in the idea of transgenerational

    Aamir Khan’s big screen comeback, Sitaare Zameen Par, features an all-star neurodivergent cast – a Bollywood first
    Source: The Conversation (Au and NZ) – By Yanyan Hong, PhD Candidate in Communication, Media and Film Studies, University of Adelaide Bharti Dubey/X Bollywood star Aamir Khan’s return to the big screen after a three-year hiatus has been far from ordinary. Sitaare Zameen Par (2025) which translates to “stars on Earth”, is the first major

    The rising rate of type 2 diabetes in young New Zealanders is becoming a health crisis
    Source: The Conversation (Au and NZ) – By Lynne Chepulis, Associate Professor, Health Sciences, University of Waikato vadimguzhva/Getty Images No longer just a condition of middle age, type 2 diabetes is increasingly affecting children, teenagers and young adults in New Zealand. And our health system is nowhere near ready to manage this surge. Type 2

    Understanding the ‘Slopocene’: how the failures of AI can reveal its inner workings
    Source: The Conversation (Au and NZ) – By Daniel Binns, Senior Lecturer, Media & Communication, RMIT University AI-generated with Leonardo Phoenix 1.0. Author supplied Some say it’s em dashes, dodgy apostrophes, or too many emoji. Others suggest that maybe the word “delve” is a chatbot’s calling card. It’s no longer the sight of morphed bodies

    Trump’s worldview is causing a global shift of alliances – what does this mean for nations in the middle?
    Source: The Conversation (Au and NZ) – By Dilnoza Ubaydullaeva, Lecturer in Government – National Security College, Australian National University Since US President Donald Trump took office this year, one theme has come up time and again: his rule is a threat to the US-led international order. As the US political scientist John Mearsheimer famously

    We have drugs to manage HIV. So why are we spending millions looking for cures?
    Source: The Conversation (Au and NZ) – By Bridget Haire, Associate Professor, Public Health Ethics, School of Population Health, UNSW Sydney Alim Yakubov/Shutterstock Over the past three decades there have been amazing advances in treating and preventing HIV. It’s now a manageable infection. A person with HIV who takes HIV medicine consistently, before their immune

    Sexy K-pop demons, a human lie detector and shearers on strike: what to watch in July
    Source: The Conversation (Au and NZ) – By John Mickel, Adjunct Associate Professor, School of Justice, Queensland University of Technology Tomorrow marks exactly halfway through 2025. Luckily there’s a suite of streaming options to help get you through the mid-year bump. We’ve got iconic classics celebrating major anniversaries, as well as an animated K-Pop spectacle,

    Fiji human rights coalition challenges Rabuka over decolonisation ‘unfinished business’
    Asia Pacific Report The NGO Coalition on Human Rights in Fiji (NGOCHR) has called on Prime Minister Sitiveni Rabuka as the new chair of the Melanesian Spearhead Group (MSG) to “uphold justice, stability and security” for Kanaky New Caledonia and West Papua. In a statement today after last week’s MSG leaders’ summit in Suva, the

    Battle of Ideas: Political Lawfare and the Destitution of Pedro Castillo
    Source: Council on Hemispheric Affairs – Analysis-Reportage COHA On June 29, Radio Negro Primero, a community-based station in Venezuela, and affiliates, will examine the jailing and prosecution of Peru’s constitutional president, Pedro Castillo. The program, Battle of Ideas, hosted by William Camacaro (Senior Analyst for COHA) and Mary Dugarte (Venezuelan Journalist), will feature distinguished panelists:

    In Struggle and Solidarity: The Enduring Legacy of Joaquín Domínguez Parada
    Source: Council on Hemispheric Affairs – Analysis-Reportage By Fred Mills and Evelyn Gonzalez Mills Silver Spring, MD Joaquín Domínguez Parada, a renowned Salvadoran attorney and tireless advocate for refugees of war and persecution, passed away on Thursday, June 26, 2025, four days after his 77th birthday in El Salvador, leaving a legacy of love, integrity,

    Here’s how First Nations landholders can share the benefits of the NSW energy transition
    Source: The Conversation (Au and NZ) – By Heidi Norman, Professor of Australian and Aboriginal history, Faculty of Arts, Design and Architecture, Convenor: Indigenous Land & Justice Research Group, UNSW Sydney Hay Local Aboriginal Land Council staff and members with researchers and actuaries from Finity Consulting. UNSW Indigenous Land and Justice Research Group The shift

    Warmer seas are fuelling the dangerous ‘weather bomb’ about to hit NSW
    Source: The Conversation (Au and NZ) – By Steve Turton, Adjunct Professor of Environmental Geography, CQUniversity Australia Heavy surf and intense rains hit Sydney beaches during a 2020 East Coast Low. Lee Hulsman/Getty Right now, a severe storm likely to be the first significant east coast low in three years is developing off the coast

    ‘I’m just exhausted’: sexual harassment at work is still rife. These new laws would help
    Source: The Conversation (Au and NZ) – By Sarah Ailwood, Associate Professor, School of Law, University of Wollongong FG Trade/Getty Last week, the Australian Human Rights Commission launched a new report on sexual harassment, called Speaking From Experience. It includes the voices of more than 300 victim-survivors of workplace sexual harassment from vulnerable communities. In

    My shins hurt after running. Could it be shin splints?
    Source: The Conversation (Au and NZ) – By Krissy Kendall, Senior Lecturer in Exercise and Sports Science, Edith Cowan University lzf/Getty If you’ve started running for the first time, started again after a break, or your workout is more intense, you might have felt it. A dull, nagging ache down your shins after you exercise.

    Australia’s cutest mammal is now Australia’s cutest three mammals
    Source: The Conversation (Au and NZ) – By Cameron Dodd, PhD Student in Evolutionary Biology and Taxonomy, The University of Western Australia The long-eared kultarr (_A. auritus_) is the middle child in terms of body size, but it has by far the biggest ears. Ken Johnson Australia is home to more than 60 species of

    Occupational therapists tackle obstacles in the home, from support to cook a meal, to navigating public transport
    Source: The Conversation (Au and NZ) – By Danielle Hitch, Senior Lecturer in Occupational Therapy, Deakin University Occupational therapists (OTs) have been in the spotlight this month after the National Disability Insurance Agency (NDIA) froze NDIS payments for these services at $193.99 per hour for the sixth year. The NDIA also cut travel payments for

    Do you have Bitcoin? Be aware of the tax consequences of selling your investment
    Source: The Conversation (Au and NZ) – By Christina Allen, Senior lecturer, Curtin University Bitcoin is ubiquitous. It is impossible to open a social media stream or news source without encountering yet another mention of the topic. Many Australians have invested, hoping for a good return. But they may not have considered the tax consequences

    On her new album, Lorde creates pop at its purest – performative, playful and alive to paradox
    Source: The Conversation (Au and NZ) – By Rosemary Overell, Senior Lecturer in Communication Studies, University of Otago “✏️Describe the vibe” goes the demand to commenters underneath the YouTube video for Lorde’s latest single, “Hammer”. Fans form a flow; a “vibe check” in Zillenial parlance: The pure rawness … (@lynmariegm) A more raw true-to-self form

    Men traded wares – but women traded knowledge: what a new archeological study tells us about PNG sea trade
    Source: The Conversation (Au and NZ) – By Robert Skelly, Archaeologist, Monash University Women loading pots on a Motu lakatoi trading vessel, in this photograph published in 1887. J. W. Lindt Australia’s closest neighbour, Papua New Guinea, is a place of remarkable cultural diversity. Home to cultures speaking more than 800 languages, this region has

    Unsafe and unethical: bed shortages mean dementia patients with psychiatric symptoms are admitted to medical wards
    Source: The Conversation (Au and NZ) – By Cindy Towns, Senior Lecturer in General Medicine and Geriatrics, University of Otago Getty Images New Zealand’s mental health crisis is well documented in the government’s 2018 inquiry, He Ara Oranga, which shows one in five people experience mental illness or significant mental distress. However, an almost singular

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: SCO digital economy forum to be held in China, highlighting cooperation

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

    TIANJIN, June 30 — The 2025 Shanghai Cooperation Organization (SCO) Digital Economy Forum will be held in north China’s Tianjin Municipality from July 10 to 11, its organizers announced on Monday.

    Themed “New Bonds in the Digital Economy, New Horizons for Cooperation,” the forum aims to expand new development space for the SCO and ensure digital dividends benefit people across the region.

    Over 600 participants from China and abroad will discuss data circulation and trade, industrial digitalization, digital infrastructure, AI applications, smart cities, and digital talent development — key areas of common interest to SCO members.

    The event is co-organized by the National Data Administration (NDA) and the Tianjin municipal government.

    Speaking at a press conference, Yu Ying, deputy director of the NDA, said that China places great importance on international cooperation on the digital economy.

    Since the establishment of the NDA in October 2023, China has signed memorandums of understanding on digital economy cooperation with 26 countries, including Russia, Brazil, Hungary, Nigeria and Malaysia.

    China has achieved positive progress in developing the digital economy in recent years, with the added value of its core digital economy industries accounting for about 10 percent of its GDP by the end of 2024, Yu said.

    MIL OSI China News –

  • MIL-OSI China: Construction begins on Chinese section of China-Laos 500-kV power interconnection project

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

    Construction begins on Chinese section of China-Laos 500-kV power interconnection project

    KUNMING, June 30 — Construction on the Chinese section of the China-Laos 500-kV power interconnection project officially commenced on Monday. This is another major project in bilateral cooperation following the construction and operations of the China-Laos Railway.

    The Chinese section of the new project consists of a 145-km, 500-kV transmission line stretching from the Dai Autonomous Prefecture of Xishuangbanna in Yunnan Province to Laos, as well as the expansion of a 500-kV transformer substation in the prefecture, according to the Yunnan Power Grid Co., Ltd., which is a subsidiary of the China Southern Power Grid Co., Ltd. (CSG).

    The project is a key initiative outlined in an action plan to build a China-Laos community with a shared future, with completion and the launch of operations scheduled for 2026.

    Once operational, the project is expected to enable a two-way mutual assistance power capacity of 1.5 million kW and to facilitate the transmission of approximately 3 billion kWh of clean electricity.

    Construction on the project’s Lao section began on Feb. 26, with a launch ceremony held in Vientiane.

    The Lao section is being developed by Electricite du Laos Transmission Company Limited, while the Chinese section is being managed by the CSG.

    MIL OSI China News –

  • MIL-OSI China: China completes barrier belt to prevent eastward expansion of its fourth-largest desert

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

    This aerial photo taken on Sept. 6, 2023 shows the Yellow River flowing through Shapotou District in Zhongwei City, northwest China’s Ningxia Hui Autonomous Region. [Photo/Xinhua]

    China on Monday reached a major milestone in desertification control by completing a barrier belt along the southeastern edge of the Tengger Desert in the northwestern Ningxia Hui Autonomous Region.

    In Changliushui village in the city of Zhongwei, workers installed the final row of straw checkerboards, a traditional sand-fixing method, locking the final stretch of shifting dunes in the Ningxia part of the Tengger Desert after a sand control project spanning more than six decades.

    This traditional sand-fixing method involves planting straw in a checkerboard pattern on the desert surface to stabilize sand and prevent wind erosion.

    This new achievement marks the completion of a 153-kilometer-long green barrier belt in Ningxia, which is 10 to 38 kilometers wide.

    Called simply the desert edge-locking project, this approach was designed to fix shifting dunes by planting vegetation belts along the desert’s perimeter, preventing further encroachment.

    Sand control often suffers setbacks as fixed dunes can start to shift again. To prevent this, workers plan to sow grass and desert-adapted shrubs within the checkerboard grid once the rainy season arrives. Once rooted, the vegetation is expected to lock the sand for the long term.

    The belt serves as a natural defense line against the eastward spread of the Tengger Desert, which spans approximately 43,000 square kilometers.

    Zhongwei, located between the Qilian and Helan mountains, is the sole gateway for the Tengger Desert’s eastward expansion. Experts say the barrier will act as a critical ecological buffer that prevents further sand encroachment and protects the Yellow River.

    Lu Qi, chief scientist of the Chinese Academy of Forestry, said the barrier belt can help prevent the desert from further encroaching on farmland, towns, oases and roads, and also significantly reduce the source of sandstorms.

    The construction of the green barrier belt in Ningxia dates back to the 1950s when the straw checkerboard approach was invented to protect the Baotou-Lanzhou Railway, China’s first desert railway.

    Local authorities have worked with research institutions to apply new technologies in sand control, such as artificial cyanobacteria sand crusts and improved straw checkerboards.

    Over the past two years, 2.6 billion yuan of investment has been made in the construction of the green barrier belt, part of China’s Three-North Shelterbelt Forest Program, the world’s largest afforestation program to tackle desertification.

    After generations’ sand control efforts over the past decades, the city has finished desertification control on about 370,000 hectares of land, pushing the desert back by about 25 kilometers.

    “The green barrier belt is not only a means of ecological restoration, but also a key practice of harmonious coexistence between humankind and nature,” said Lu. “It also offers an important reference for the sustainable development of arid areas worldwide.”

    China has taken an active role in global desertification control. Since signing the United Nations Convention to Combat Desertification in 1994, the country has been a leader in halting land degradation and reversing desertification, and has continuously shared sand control experience, technologies and talent abroad.

    In its latest effort, the China-Central Asia desertification control cooperation center, which is based in Ningxia, was inaugurated in June to boost international collaboration.

    “Our goal is to inject more Chinese momentum into global ecological governance and sustainable development,” said Dong Yanbiao, deputy director of the center. He added that the center plans to leverage technology advantages, integrate domestic research and build cooperation networks.

    MIL OSI China News –

  • MIL-OSI China: G7 FMs call for resumption of negotiations on Iran’s nuclear program

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

    The Group of Seven (G7) foreign ministers on Monday called for the resumption of negotiations to reach a comprehensive, verifiable and durable agreement that addresses Iran’s nuclear program.

    In a joint statement on Iran and the Middle East issued by Global Affairs Canada, the foreign ministers called on Iran to urgently resume full cooperation with the International Atomic Energy Agency (IAEA) as required by its safeguards obligations and to provide the IAEA with verifiable information about all nuclear material in Iran, including by providing access to IAEA inspectors.

    “We underscore the centrality of the Nuclear Non-Proliferation Treaty (NPT) as the cornerstone of the global nuclear non-proliferation regime. It is essential that Iran remains party to and fully implements its obligations under the Treaty,” read the statement.

    G7 foreign ministers of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, as well as the high representative of the European Union, met in The Hague on June 25 and discussed recent events in the Middle East.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Flag-raising marks 28th anniversary

    Source: Hong Kong Information Services

    Chief Executive John Lee and senior government officials attended a flag-raising ceremony this morning to celebrate the 28th anniversary of the Hong Kong Special Administrative Region’s establishment.

    The ceremony was held at Golden Bauhinia Square in Wan Chai at 8am.

    The Police Band performed at the ceremony and a choir from Clementi Secondary School sang the national anthem under the lead of two singers, followed by a fly-past and a sea parade by the disciplined services.

    Led by the Chief Executive, a celebratory reception was then held at the Grand Hall on Level 3 of the Convention & Exhibition Centre.

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: 3/12 Executes HIMARS Dry-Fire Training at Camp Fuji

    Source: United States INDO PACIFIC COMMAND

    CAMP FUJI, Japan – U.S. Marines with 3d Battalion, 12th Marine Regiment, 3d Marine Division conducted High Mobility Artillery Rocket System (HIMARS) dry-fire training at Combined Arms Training Center (CATC) Camp Fuji from June 11-13, 2025. This training represents a significant enhancement of Camp Fuji’s capability to support long-range fires and reflects our commitment to maintaining readiness and deterrence in the Indo-Pacific alongside our Japanese partners.

    MIL Security OSI –

  • MIL-OSI: DRC Medicine Ltd. Announces the Business Combination Agreement with Ribbon Acquisition Corp.

    Source: GlobeNewswire (MIL-OSI)

    Combined Company Expected to be Listed on NASDAQ Global Market

    • DRC Medicine Ltd. (“DRC Medicine” or the “Company”), is an innovative healthcare and biotechnology company headquartered in Japan, focused on the research, development, and commercialization of advanced medical technologies that address significant global health challenges.
    • The Company is best known for its proprietary Hydro Silver Titanium® technology, initially applied in consumer hygiene products such as masks and towels, and now being advanced to obtain medical device certification as among the world’s first therapeutic masks for seasonal allergic rhinitis.
    • Combined company to have an implied initial pro forma equity value of approximately $422.15 Million, (assuming no redemptions) and the transaction is expected to deliver cash proceeds of around $50.42 Million to DRC Medicine (assuming no redemptions) to fund DRC Medicine’s business and operations, which include devices’ clinical trial and certification.
    • Current DRC Medicine shareholders will retain 100% of their equity and will continue to own approximately 82.91% of the combined company on a pro forma basis, assuming no redemptions by Ribbon’s shareholder.

    Tokyo, June 30, 2025 (GLOBE NEWSWIRE) — DRC Medicine Ltd., an innovative healthcare and biotechnology company based in Tokyo, Japan (“DRC” or the “Company”), announced today that it has entered into a business combination agreement (the “Business Combination Agreement”) with Ribbon Acquisition Corp. (NASDAQ: RIBB) (“Ribbon”), a special purpose acquisition company, DRC Medicine Inc., a Delaware company limited by shares (DRC Medicine) and DRC Merger Inc. (“Merger Sub”), a Delaware company limited by shares and a directly owned subsidiary of DRC Medicine, which would result in DRC Medicine becoming a publicly-traded company (the “Proposed Transaction”).

    DRC Medicine Ltd. is an innovative healthcare and biotechnology company headquartered in Japan, focused on the research, development, and commercialization of advanced medical technologies that address significant global health challenges. The Company is best known for its proprietary Hydro Silver Titanium® technology, initially applied in consumer hygiene products such as masks and towels, and now being advanced to obtain medical device certification as among the world’s first therapeutic masks for seasonal allergic rhinitis. In addition to medical devices, the Company is developing a pipeline of In Vitro Diagnostic (“IVD”) kits for infectious diseases and allergen detection, combining its world-only cell-free protein synthesis technology leveraging AI powered Apps and is in final negotiation in acquiring an innovative ATP-enhancing drug for Parkinson’s disease drugs development company, the drug is currently in clinical trials. This diverse portfolio is driven by a strong focus on unmet medical needs, AI-assisted discovery, and global healthcare infrastructure transformation. For more information, visit https://drciyaku.co.jp/ and https://drciyaku.jp/.

    Dr. Marumi Okazaki, President & CEO of DRC, said: “This transaction will give us the resources that will enable us to capture the positive trends in our industry. Given the growth of airborne allergens, respiratory diseases and infectious diseases, increasing demand for better respiratory protection mask and faster and a more accurate IVD kits, we intend to invest in more IVD kits paired with AI-powered Apps in achieving universal diagnostics to empower the general public in guarding their health and fight against allergen, respiratory diseases and infectious diseases as well as catapult our research and development, production capabilities to meet the rising demand for better respiratory protection mask and AI-powered IVD kits.”

    Mr. Angshuman (Bubai) Ghosh, Chairman/CEO of Ribbon, said, “This business combination agreement with DRC is a great opportunity to enter into an exciting and accelerating growth healthcare and biotechnology industry. We believe its highly capable and experienced management team with all of the founders with substantial experience in developing innovative technologies, supported by their technology-savvy specialists and R&D team who are committed to pioneering innovations, will enable DRC to continuously innovate and advance their healthcare and biotechnology applications to gain a greater foothold in the global market.”

    Transaction Overview

    As a part of the Proposed Transaction, an intermediate holding company incorporated in Japan (the “Intermediate Co.” will acquire the shares of DRC Medicine, after which the Intermediate Co. will engage in a share exchange transaction with the  shareholders of the Company, such that the Company will become a wholly-owned subsidiary of Intermediate Co. and the shareholders of the Company will become shareholders of DRC Medicine (the “DRC Restructuring”). Following the consummation of the DRC Restructuring and subject to the terms and conditions of the Business Combination Agreement, Ribbon will merge with and into the Merger Sub, with Merger Sub continuing as the surviving company and remaining a wholly owned subsidiary of DRC Medicine.

    The Proposed Transaction implies a pre-money equity value of US$350 million of DRC on a fully diluted basis, and is expected to provide DRC with access to approximately US$50 million cash from Ribbon’s IPO proceeds held in trust, assuming no redemption by Ribbon’s shareholders in connection with the current and future proxy exercises and prior to the payment of any transaction expenses. The parties will cooperate in connection with any financing arrangement the parties seek in connection with the Proposed Transaction.

    Advisors

    A.G.P./Alliance Global Partners serves as the financial advisor and lead capital markets advisor to Ribbon. Geneva Capital Group serves as the financial advisor to DRC. Celine & Partners serves as the legal advisor to Ribbon. Ross Law Group serves as the legal advisor to DRC.

    About DRC Medicine Ltd. 

    Founded in 2007, DRC is an innovative healthcare and biotechnology company headquartered in Japan, focused on the research, development, and commercialization of advanced medical technologies that address significant global health challenges. The Company is best known for its proprietary Hydro Silver Titanium® technology, initially applied in consumer hygiene products such as masks and towels, and now being advanced to obtain medical device certification as among the world’s first therapeutic masks for seasonal allergic rhinitis . In addition to medical devices, the Company is developing a pipeline of In Vitro Diagnostic (“IVD”) kits for infectious diseases and allergen detection, combining its world-only cell-free protein synthesis technology leveraging AI powered Apps and is in final negotiation in acquiring an innovative ATP-enhancing drug for Parkinson’s disease.

    About Ribbon Acquisition Corp. 

    Ribbon is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While Ribbon intends to conduct a global search for target businesses without being limited by geographic region, certain executive officers and independent directors are based in Hong Kong, and certain executive officers have experience investing in and building businesses in the Asia Pacific region and have a deep understanding of the region’s business environment, regulations, regulatory bodies and culture. Ribbon will not undertake an initial business combination with any company being based in or having the majority of the company’s operations in Greater China. Ribbon is led by Mr. Angshuman (Bubai) Ghosh, Ribbon’s Chief Executive Officer, and Ms. Zhiyang (Anna) Zhou, Ribbon’s Chief Financial Officer.

    Important Additional Information Regarding the Transaction Will Be Filed With the SEC

    This press release relates to the proposed business combination between Ribbon Acquisition Corp. and DRC Medicine Ltd.. This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. DRC intends to file a Registration Statement on Form S-4 with the SEC, which will include a document that serves as a joint prospectus and proxy statement, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all Ribbon shareholders. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. Ribbon and DRC will also file other documents regarding the proposed business combination with the SEC. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF RIBBON ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION.

    Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Ribbon and DRC through the website maintained by the SEC at www.sec.gov. The documents filed by Ribbon and DRC with the SEC also may be obtained free of charge upon written request to Ribbon Acquisition Corp., Central Park Tower LaTour Shinjuku Room 3001, 6-15-1 Nishi Shinjuku, Shinjuku-ku Tokyo 160-0023.

    Participants in the Solicitations

    Ribbon, DRC and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from Ribbon’s shareholders in connection with the proposed business combination. You can find information about Ribbon’s directors and executive officers and their interest in Ribbon in Ribbon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was originally filed with the SEC on April 1, 2025. A list of the names of the directors, executive officers, other members of management and employees of Ribbon and DRC, as well as information regarding their interests in the business combination, will be contained in the Registration Statement on Form S-4 to be filed with the SEC by DRC. Additional information regarding the interests of such potential participants in the solicitation process may also be included in other relevant documents when they are filed with the SEC. You may obtain free copies of these documents from the sources indicated above.

    Caution About Forward-Looking Statements

    This press release may contain forward-looking statements within the meaning of section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and section 21E of the U.S. Securities Exchange Act of 1934 (“Exchange Act”) that are based on beliefs and assumptions and on information currently available to Ribbon and DRC. These forward-looking statements are based on Ribbon’s and DRC’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including projections of market opportunity and market share, the capability of DRC’s business plans including its plans to expand, the anticipated enterprise value of the combined company following the consummation of the proposed business combination, anticipated benefits of the proposed business combination and expectations related to the terms and timing of the proposed business combination, are also forward-looking statements.

    Although each of Ribbon and DRC believes that it has a reasonable basis for each forward-looking statement contained in this communication, each of Ribbon and DRC cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. These factors are difficult to predict accurately and may be beyond Ribbon’s and DRC’s control. In addition, there will be risks and uncertainties described in the proxy statement/prospectus on Form S-4 relating to the proposed business combination, which is expected to be filed by DRC with the SEC and other documents filed by Ribbon or DRC from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those expressed or implied in the forward-looking statements.

    There may be additional risks that neither Ribbon or DRC presently know or that Ribbon and DRC currently believe are immaterial and that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by Ribbon or DRC, their respective directors, officers or employees or any other person that Ribbon and DRC will achieve their objectives and plans in any specified time frame, or at all. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Ribbon or DRC to predict these events or how they may affect Ribbon or DRC. Except as required by law, neither Ribbon nor DRC has any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect Ribbon’s and DRC’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination; the outcome of any legal proceedings that may be instituted against Ribbon or DRC, the combined company or others following the announcement of the business combination; the inability to complete the business combination due to the failure to obtain approval of the shareholders of Ribbon or to satisfy other conditions to closing; changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations; the ability to meet stock exchange listing standards following the consummation of the business combination; the risk that the business combination disrupts current plans and operations of Ribbon or DRC as a result of the announcement and consummation of the business combination; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and retain its management and key employees; costs related to the business combination; changes in applicable laws or regulations; Ribbon’s estimates of expenditures and profitability and underlying assumptions with respect to shareholder redemptions and purchase price and other adjustments; the impact of the COVID-19 pandemic; changes in laws and regulations that impact DRC; ability to enforce, protect and maintain intellectual property rights; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Ribbon’s final prospectus dated January 14, 2025 relating to its initial public offering and in subsequent filings with the SEC, including the registration statement on Form S-4 relating to the business combination expected to be filed by DRC.

    No Offer or Solicitation

    This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom.

    For further queries please contact:

    Geneva Capital Group on behalf of DRC

    Bob Lau, bob.lau@genevagroup.com.sg 

    The MIL Network –

  • MIL-OSI Economics: Joint Statement: Heads of Multilateral Development Banks commit to strong joint action on development priorities

    Source: New Development Bank

    PARIS (28 June) – The Heads of Multilateral Development Banks (MDBs) met today in Paris, hosted by the Council of Europe Development Bank (CEB), which currently chairs the Heads of MDBs Group. The meeting focused on advancing their joint efforts to address  development priorities.

    Amid rising global uncertainty, the Heads reaffirmed their commitment to working as a system to deliver greater impact and scale, in line with their Viewpoint Note and the recommendations of the G20 Roadmap towards Better, Bigger, and More Effective MDBs.  The Roadmap outlines an ambitious vision for MDB reform to better address regional and global challenges, support job creation, and help countries achieve their development aspirations.

    The Heads welcomed ongoing efforts to improve the way MDBs work with clients through operational efficiency and enhanced coordination. In 2025 alone, five mutual reliance agreements  have been signed, helping streamline the preparation and implementation of  co-financed projects across institutions.

    Private capital mobilization remains a system-wide priority, with the last joint report of the MDBs reflecting a positive trend in volumes mobilized. To build on this momentum, the Heads reaffirmed their commitment to developing local currency lending and foreign exchange solutions. They also reaffirmed  the importance of adequate risk assessment for private sector investment in emerging markets and developing economies; in this context, the valuable contribution of disaggregated statistics on credit risk published through the Global Emerging Markets Risk Database (GEMs) was recognized.

    The Heads reiterated their continued commitment to implementing the recommendations of the G20 Independent Review of Multilateral Development Banks’ Capital Adequacy Frameworks (CAF).  Further reform efforts by MDBs since mid-2024 have increased the additional lending headroom for development projects in all countries of operation, including high-income ones, over the next decade by more than US$250 billion, thus reaching a total of over US$650 billion.

    The publication in the coming weeks of the Comparison Report by the MDBs’ Global Risk and Finance Forum (GRaFF) will provide metrics and data relating to MDBs’ financial positions, promoting a better understanding of their financial models and supporting both balance sheet optimization and private sector mobilization.

    The Heads also agreed to continue advancing promising initiatives already underway to strengthen system-wide impact. These include: 1) Mission 300, which aims to connect 300 million people in Africa to electricity by 2030 through public and private collaboration;  2) Association of South East Asian Nations (ASEAN) Power Grid, which aims to boost energy security, strengthen resilience, and promote decarbonization for the region’s 670 million people by connecting its electricity systems; and 3) Digital Transformation in Education in Latin America and the Caribbean, which aims to connect 3.5 million students and train over 250,000 teachers.

    In addition, MDBs are exploring joint actions to scale up investments in social infrastructure, including health, education, housing, and water and sanitation. Building on structured dialogue led by the CEB, the Heads welcomed progress made through recent cross-MDB consultations and recognized the key role these sectors play in enabling jobs, productivity, and inclusive growth, while noting persistent financing and delivery challenges that constrain impact.

    Meeting in advance of the Fourth International Conference on Financing for Development (FfD4), which will take place in Sevilla, Spain, from 30 June to 3 July, MDBs remain committed to working better as a system, in alignment with country-led development priorities and strategies to promote jobs and prosperity. In view of water’s role in human development, MDBs committed to significantly increasing collective support for global water security by 2030, and will launch the first “Joint Annual MDB Water Security Financing Report” at FfD4. Heads noted the importance of the upcoming COP30 in Belem, Brazil, in November 2025.

    Today’s meeting in Paris marks a significant step toward effective collaboration and scaled-up collective action for development priorities. MDB reforms are advancing, moving from concept to execution.

    With streamlined operations, better risk tools, and growing financial capacity, MDBs are delivering real impact – from expanding energy access and digital education to scaling investment in water security.

    MIL OSI Economics –

  • MIL-OSI USA: ICYMI—Hagerty Joins Balance of Power on BloombergTV to Discuss Senate Passage of “One, Big Beautiful Bill”

    US Senate News:

    Source: United States Senator for Tennessee Bill Hagerty

    WASHINGTON—Today, United States Senator Bill Hagerty (R-TN), a member of the Senate Appropriations, Banking, and Foreign Relations Committees and former U.S. Ambassador to Japan, joined Balance of Power on BloombergTV to discuss Senate passage of the budget reconciliation package.

    *Click the photo above or here to watch*

    Partial Transcript

    Hagerty on the economic growth that will result from passing the budget reconciliation package: “It’s going to be a very long night and could well go into tomorrow morning. But at the end of the day, what we’re going to do is prevent the largest tax increase that Americans have ever seen. This is a tax relief that Americans need. We’re talking about a four-plus trillion-dollar tax increase. That would be the case if it were allowed to not pass. If you think about it, it’s a generational investment in our national defense. It’s going to put us back on the path for energy independence as a nation. And most important, it’s going to stimulate longer-term capital investment, which will beget growth. That growth will beget more employment, more employment will beget more economic activity, which means we’re going to have higher tax revenues for the government as a result.”

    Hagerty on the inaccurate scoring of the budget reconciliation package: “I don’t agree with their willingness to rely on authorities. I’m putting air quotes around that, like the Congressional Budget Office (CBO). The CBO missed the 2017 Tax Cuts and Jobs Act revenue by more than a trillion dollars. As a businessperson—I’ve been a businessperson my entire life—the type of capital investment they’re going to stimulate over the long term is definitely going to generate much more economic activity. And I think the models are wrong. I do not agree with the approach that has been taken that suggests this is going to be a big deficit bomb. In fact, I think it’s going to be a growth generator that’s going to put our deficit back on the curve in the right direction to reduce the deficit […] It’s been quite frustrating to see numbers that just as a logical person, as a businessperson, clearly you say that there’s no way these calculations are right. What they leave out, what they don’t include, that the overreliance on tax revenue, so to speak, when you know that companies and individual behaviors will change if taxes go up. The model does not work.”

    Hagerty on future budget reconciliation packages: “I certainly support another one of these packages. We’ll have an opportunity to do it again and again. If you think about the work that was undertaken by Elon Musk and the team at DOGE that’s continuing, every department head, every agency head, has been charged with figuring out how to reduce the dramatic burden of regulations that was imposed just in the last administration. And to quantify that over the past four years of [former President] Joe Biden’s administration, that was an additional $1.4 trillion of compliance costs that were added to the U.S. economy. As that comes out, as these conflicting regulations, these burdensome sclerotic regulations come out of the system, I expect to see that those funds, instead of going toward a compliance, fall to the bottom line and get reinvested in the economy. Again, all very pro-growth.”

    Hagerty on the collaboration between House and Senate Leadership: “Leader [John] Thune is trying to thread a very difficult needle, in terms of navigating through the Senate, with fifty-plus-one votes and having something that will work in the House of Representatives. Make no mistake: the leadership at the House of Representatives and here in the Senate have been working very closely together to make certain that we do thread that needle, that we’re able to turn something over to the House of Representatives that convenes tomorrow at noon, to set up the [Rules Committee] so that they can move this through the House, we can get it to the President’s desk, and get it signed by the 4th of July.”

    Hagerty on potential late-night votes: “It easily could go that way. I’ve been here voting all the way through the night and into the next morning, but we will vote as long as it takes to get here. There’s no time limit on this. It really has to do with how long the Democrats want to continue to fight, to put up their resistance movement again. They keep offering the same type of challenge over and over and over again and certainly dragging out the clock. I think what they want to do is get to primetime tonight. I’ve got to believe that their interest will wane after primetime hours. So, we’ll see how long it goes.”

    MIL OSI USA News –

  • MIL-OSI Russia: China to host SCO Forum on Digital Economy

    Translation. Region: Russian Federal

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

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

    TIANJIN, July 1 (Xinhua) — The Shanghai Cooperation Organization (SCO) Forum on Digital Economy will be held in north China’s Tianjin City from July 10 to 11.

    The event, entitled “New Ties of the Digital Economy, New Horizons of Cooperation,” will aim to highlight the role of the digital economy as a hub and driving force in creating a new space for the development of the SCO and ensuring the availability of digital dividends for the population of the organization’s member states, the organizers said.

    More than 600 participants from China and abroad are expected to discuss topics of common interest: data circulation and trade, industrial digitalization, digital infrastructure, artificial intelligence applications, smart cities and digital talent development.

    The forum was organized by the State Data Administration (SDA) of the People’s Republic of China and the Tianjin Municipal Government.

    China attaches great importance to international cooperation in the digital economy, Yu Ying, deputy head of the department, said at a press conference on Monday. Since the establishment of the GUD in October 2023, China has signed memorandums of understanding on cooperation in the digital economy with 26 countries, including Russia, Brazil, Hungary, Nigeria and Malaysia.

    In recent years, China has made positive progress in developing its digital economy, with the added value created by key digital industries accounting for 10 percent of the country’s GDP by the end of 2024, Yu Ying said. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: IMF Executive Board Concludes 2025 Article IV Consultation and Completes the Eighth Review under the Extended Credit Facility with Guinea-Bissau

    Source: IMF – News in Russian

    June 30, 2025

    • The IMF Executive Board today concluded the 2025 Article IV consultation and completed the eighth review under the Extended Credit Facility (ECF) for Guinea-Bissau. The completion of the review allows for an immediate disbursement of SDR 4.73 million (about US$ 6.5 million), bringing total disbursement under the arrangement to SDR 35.04 million (about US$ 48.1 million)
    • Program performance was mixed. Seven out of nine Quantitative Performance Criteria and three out of four Structural Benchmarks for end-December 2024 were met. The continuous Structural Benchmark on debt service payments was met while the continuous Structural Benchmark on the expenditure committee (COTADO) was missed.
    • Growth is expected to reach 5.1 percent in 2025 while inflation should average 2 percent. The current account deficit is expected to narrow to 5.8 percent of GDP in 2025, reflecting better terms of trade. The authorities are committed to achieving a fiscal deficit of 3.4 percent of GDP in 2025, to put public debt on a firm downward trajectory. The economic outlook is positive but remains subject to significant domestic and external risks.

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded today the 2025 Article IV consultation[1] and completed the eighth review under Extended Credit Facility (ECF) arrangement for Guinea-Bissau. The three-year arrangement, approved on January 30, 2023, aims to secure debt sustainability, improve governance, and reduce corruption, while creating fiscal space to foster inclusive growth. The Executive Board granted an augmentation of access (140 percent of quota or SDR 39.76 million) on November 29, 2023. The completion of the eighth review enables the disbursement of SDR 4.73 million (about US$ 6.5 million) to help meet the country’s balance-of-payments and fiscal financing needs. This brings total disbursement under the arrangement to SDR 35.04 million (about US$ 48.1 million). The authorities have consented to the publication of the Staff Report prepared for this consultation.[2]

    Program performance was mixed. Seven out of nine Quantitative Performance Criteria and three out of four Structural Benchmarks for end-December 2024 were met. The continuous Structural Benchmark on debt service payments was met while the continuous Structural Benchmark on the expenditure committee (COTADO) was missed. In completing the eighth review, the Executive Board granted waivers for the non-observance of quantitative performance criteria based on corrective actions taken by the authorities [including the revenue and expenditure measures adopted as prior actions for the review], approved the authorities’ request for modification of performance criteria and indicative targets, and completed the financing assurance review. The Executive Board also approved the authorities’ request for the program extension until July 29, 2026, and rephasing of access to provide them with sufficient time to implement fiscal consolidation policies supported by the ECF program.

    Economic growth is projected to reach 5.1 percent in 2025, supported by strong exports and investments, while inflation is expected to decelerate and average 2 percent. The current account deficit should narrow to 5.8 percent of GDP in 2025, reflecting a significant improvement in Guinea-Bissau’s terms of trade. The authorities are committed to achieving a fiscal deficit of 3.4 percent of GDP in 2025 to put public debt on a firm downward trajectory. While the direct impact of recent global trade tensions on Guinea-Bissau is limited, the economy remains subject to significant downside risks amid a challenging socio-political climate in an election year and capacity constraints. The 2025 Article IV consultation discussions focused on policies aimed at supporting economic diversification to reduce dependency on cashew nuts, maintaining fiscal sustainability through domestic revenue mobilization, and bolstering social protection and human capital to promote inclusive growth.

    Following the Executive Board discussion, Mr. Okamura, Deputy Managing Director and Acting Chair, issued the following statement:

    “The economy of Guinea-Bissau has been resilient, supported by strong investment spending. While growth is projected to continue around its potential of 4½-5 percent over the medium term, significant challenges remain. In particular, the high export dependency on cashew nuts and the high risk of debt distress leave the country vulnerable to adverse changes in the international environment. Against this background, the authorities are focused on policies designed to diversify the economy and broaden the export base, including by supporting additional growth sectors such as mining and fishing.

    “Achieving the fiscal consolidation target for 2025 is essential to reduce public debt vulnerabilities. In this context, the authorities remain committed to containing domestic primary spending within the 2025 budget and to maintain strict control over the wage bill. This is being supported by strong expenditure controls, including by ensuring that project disbursements are thoroughly verified and discretionary spending remains within agreed allocations. Measures to boost revenue mobilization to bring tax collection closer to its potential through a combination of tax policy measures and revenue administration reforms are vital to create fiscal space to support economic development while reducing fiscal risks.

    “Good progress has been made in addressing financial sector vulnerabilities. The recent approval by the regional Banking Commission for the purchase offer for the undercapitalized bank, and the authorities’ decision to divest the government’s stake in the bank, are important steps in reducing systemic financial sector risks.

    “Boosting inclusive growth calls for implementing sustained social protection programs to protect the poor, diversifying the economy, strengthening the business environment and governance, and improving the efficiency of education and health spending. Broadening the coverage of social protection programs and mainstreaming them within government structures would help reduce poverty indicators. At the same time, progressively reducing broad-based subsidies and moving towards more targeted programs would also boost the impact of social spending.”

     

    Executive Board Assessment[3]

    Executive Directors agreed with the thrust of the staff appraisal. They welcomed the resilience of the economy and the significant progress in infrastructure development since the last Article IV consultation. Noting the mixed performance under the ECF and significant downside risks, they welcomed the strong corrective measures that have been implemented as prior actions for the eighth ECF review. They supported the authorities’ request for a six-month extension of the ECF, to help anchor the fiscal targets for the whole of 2025 and reinforce the commitment to fiscal consolidation.

    Given the high risk of debt distress, Directors underscored the critical importance of sustained fiscal consolidation and further reinforcing debt management to ensure that the debt to GDP ratio remains on a downward trajectory. They encouraged the authorities to boost revenue mobilization through tax policy and tax administration measures, thereby creating fiscal space for priority social and development spending while strengthening debt sustainability. They called for reinforcing expenditure controls and strengthening public financial management to contain the wage bill and prevent the recurrence of spending overruns. Continuing to refrain from nonconcessional borrowing while keeping further concessional borrowing within program targets remains important. Fiscal risks from the public utility company should also be addressed, including by speeding up its revenue mobilization.

    Directors welcomed the approval of the sale of the undercapitalized bank, which paves the way for the government’s disengagement. They called for a swift capitalization of the bank by its new owners to strengthen financial sector resilience.

    Directors stressed the need for sustained structural reforms to underpin macroeconomic stabilization and boost growth. They highlighted the importance of efforts to strengthen the business environment, remove market distortions, and reduce informality. Diversifying the economy, notably in sectors with potential such as fishing, mining, and traditional agriculture, remains critical for inclusive growth and reducing dependence on cashew exports. They urged the authorities to expedite steps to strengthen governance, anti-corruption, and AML/CFT standards. They called for reforms to strengthen procurement transparency and enhance the robustness of the audit function, to help improve public sector transparency and efficiency.

    Directors positively noted the authorities’ efforts to address gaps in the provision of macroeconomic data.

    It is expected that the next Article IV consultation with Guinea Bissau will be held on a 24-month cycle in accordance with the Executive Board decision on consultation cycles for members with Fund arrangements.

     

    Guinea-Bissau: Selected Economic Indicators, 2022-26

    Population (2024): 2.0 million                                      Per capita GDP (2024): US$ 1,104

    Main export product: cashew nuts                               Key export markets: India, Vietnam

     

    2022

    2023

    2024

    2025

    2026
         

    Prel.

    Proj.

    Proj.

    Output

    		          

    Real GPD growth (%)

    4.6

    5.2

    4.8

    5.1

    5.0

    Prices

    		          

    Inflation (annual average, %)

    7.9

    7.2

    3.7

    2.0

    2.0

    Central government finances

    		          

    Revenue and grants (% GDP)

    15.2

    13.7

    13.1

    16.1

    15.7

    Expenditure (% GDP)

    21.3

    21.9

    20.4

    19.5

    19.2

    Fiscal balance (% GDP)

    -6.1

    -8.2

    -7.3

    -3.4

    -3.5

    Public debt (% GDP)

    80.7

    79.4

    82.2

    78.5

    76.3

    Money and credit

    		          

    Broad money (% change)

    3.5

    -1.1

    6.2

    5.6

    5.4

    Credit to economy (% change)

    23.5

    -9.4

    -12.2

    14.4

    13.8

    Balance of payments

    		          

    Current account (% GDP)

    -8.6

    -8.6

    -8.2

    -5.8

    -5.0

    FDI (% GDP)

    1.2

    1.2

    1.2

    1.2

    1.2

    WAEMU reserves (US$ billions)

    25.2

    26.1

    …

    …

    …

    External public debt (% GDP)

    39.0

    35.4

    34.7

    32.0

    30.9

    Exchange rate

    		          

    CFAF/US$ (average)

    622.4

    606.5

    606.2

    …

    …

    Sources: Guinea-Bissau authorities and IMF staff estimates and projections

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] Under the IMF’s Articles of Agreement, publication of documents that pertain to member countries is voluntary and requires the member consent. The staff report will be shortly published on the www.imf.org/guinea-bissau page.

    [3] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Julie Ziegler

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/07/01/pr25230-guinea-bissau-2025-article-iv-and-eighth-review

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Speech by CE at reception in celebration of 28th anniversary of establishment of HKSAR

    Source: Hong Kong Government special administrative region

    ​Following is the translation of the speech by the Chief Executive, Mr John Lee, at the reception in celebration of the 28th anniversary of the establishment of the Hong Kong Special Administrative Region at the Hong Kong Convention and Exhibition Centre this morning (July 1):
     
    Distinguished guests, fellow citizens,

    Today marks the 28th anniversary of the establishment of the Hong Kong Special Administrative Region (HKSAR) of the People’s Republic of China and the third anniversary of the current term of the Government. Over these three years, the Government has forged ahead with reforms to build a safe and stable Hong Kong, and striven to develop the economy and improve people’s livelihood. Our efforts are gradually delivering results.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: China’s two carrier strike groups return to homeports 2025-07-01 08:52:55 China’s two carrier strike groups have recently returned to their home ports after a series of training operations and exercises in the Western Pacific, according to the People’s Liberation Army Navy.

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

      The carrier groups of the Liaoning and Shandong conduct far-sea combat training in recent days. The photo shows the groups carrying out an at-sea replenishment. [Photo by Wang Jian / for China Daily]

      China’s two carrier strike groups have recently returned to their home ports after a series of training operations and exercises in the Western Pacific, according to the People’s Liberation Army Navy.

      The Navy said in a news release on Monday afternoon that the two strike groups, led by the CNS Liaoning and CNS Shandong aircraft carriers, carried out “realistic and systemic” combat training and cooperated with other PLA branches to conduct mock battles.

      Units involved in the exercises performed early-warning, reconnaissance, air and missile defense, fighter deployments, assaults against sea targets and other maneuvers, the release said.

      During the dual-carrier mission, the strike groups explored and verified their tactics and also honed their crews’ skills, effectively improving the flotillas’ combat capabilities, it stated.

      According to the Navy, during the training session, the Chinese vessels had several encounters with foreign warships and aircraft that conducted close-in reconnaissance and surveillance. The groups maintained high alert and were always ready to respond to possible threats. They mobilized carrier-based fighters to establish security perimeters, handling various scenarios professionally and effectively.

      The exercise was the second time that both of the Navy’s carrier strike groups participated in an operation together. The first time was in October, when they conducted a joint combat exercise in the South China Sea.

      Senior Captain Wang Xuemeng, a spokesman for the Navy, said on June 10 in Beijing that the strike groups’ operations were “a part of routine training arrangements set by our annual work plan, and is intended for improving our units’ ability to fulfill their duties. It is in line with the international law and common practice by other navies, and is not targeted at any specific nation or objective”.

      Currently, the Navy operates two aircraft carriers — the CNS Liaoning and the CNS Shandong. Both have a standard displacement of around 50,000 metric tons and a conventional propulsion system, and they use a ski jump system to launch their J-15 fighter jets.

      The country has built a third aircraft carrier — the CNS Fujian, which is the largest and mightiest warship any Asian nation has ever built. It is also the world’s largest non-American aircraft carrier.

      Carrier-based fighter jets take off during far-sea combat training recently conducted by the Chinese navy’s Liaoning and Shandong carrier groups. [Photo by Wang Yuanlin / for China Daily]

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    MIL OSI China News –

  • MIL-OSI China: China extends anti-dumping duties on stainless steel imports from EU, UK, ROK and Indonesia: commerce ministry

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

    China’s Ministry of Commerce announced Monday that it would extend anti-dumping duties aimed at stainless steel billets and hot-rolled stainless steel plates and coils imported from the European Union (EU), the United Kingdom (UK), the Republic of Korea (ROK) and Indonesia for another five years, starting Tuesday.

    This decision follows an expiry review of anti-dumping measures aimed at the products initiated in July 2024 at the request of China’s domestic industry.

    If these anti-dumping measures were terminated, the dumping of stainless steel billets and hot-rolled stainless steel plates and coils imported from the EU, UK, ROK and Indonesia could continue or recur, potentially causing ongoing or renewed harm to China’s domestic industry, the ministry said.

    Under the extended measures, anti-dumping duties on the imported products were set at a range of 23.1 percent to 103.1 percent for the ROK, 43 percent for the EU and the UK, and 20.2 percent for Indonesia.

    Stainless steel billets and hot-rolled stainless steel plates and coils are widely used in industries such as ships, containers, railways, electric power, petroleum and petrochemicals. 

    MIL OSI China News –

  • MIL-OSI China: Hong Kong boasts largest IPO market worldwide in H1

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

    Photo taken on July 31, 2021 shows the statues on the square of Hong Kong Exchanges and Clearing Limited (HKEX) in south China’s Hong Kong. [Photo/Xinhua]

    Hong Kong has beaten all the other capital markets in the world to raise over 105 billion Hong Kong dollars (13.38 billion U.S. dollars) through initial public offerings (IPOs) in the first half of 2025, as capital inflows into the city continues amid global market jitters.

    The Hong Kong Exchanges and Clearing Limited (HKEX) data showed that 42 companies were listed in the first six months, up 40 percent from the same period last year. Total funds raised stood at the highest since 2021, crushing the 87.6 billion Hong Kong dollars annual total in 2024.

    The HKEX claimed top spot worldwide in terms of total IPO proceeds in the first half of this year, well ahead of Nasdaq’s 71.3 billion Hong Kong dollars, a Deloitte report showed.

    Industry insiders say Hong Kong’s securities market became a global investors’ go-to platform to add Chinese assets to their portfolios.

    Capital inflow into Hong Kong has risen from 366 billion U.S. dollars at the beginning of last year to 605 billion dollars in April, the highest since 2000, data from Hang Seng Bank showed.

    Many global investors first look to Hong Kong to diversify risks, and, impressed by the economic vitality of the Chinese mainland and Hong Kong, chose to increase their holdings, said Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government.

    Pro-growth policy efforts from the central government and the HKSAR’s measures to streamline listing procedures have worked together to lift Hong Kong’s stock market, said HKEX Chairman Carlson Tong.

    Among this year’s new IPOs, crowd favorites are those of tech firms in artificial intelligence, 5G and smart vehicles, as well as new consumption companies, which cultivate and profit on consumer behaviors with the help of new technologies. Both are signatures of China’s economic upgrades.

    Chinese electric vehicle (EV) battery maker Contemporary Amperex Technology (CATL) raised over 40 billion Hong Kong dollars in May, drawing investments from Europe, the Middle East and the United States. It is the largest IPO in Hong Kong in recent years and a shoo-in for the largest worldwide this year.

    As flag bearers of new consumption trends, bubble tea makers like Mixue Bingcheng and Auntea Jenny marked memorable H1 IPOs, while Chinese fast food chain Home Original Chicken and snack brand Three Squirrels are waiting in line.

    The avid investor turnout to these new consumption IPOs is a token of faith in the resilience of China’s domestic demand, as these companies have developed tried and tested business models to meet the needs of younger consumers, analysts say.

    Hong Kong’s IPO market is expected to maintain steam in the second half. Edward Au, southern region managing partner of Deloitte China, said there are currently more than 170 applications in progress and estimated that a total of 80 IPOs will raise around 200 billion Hong Kong dollars this year.

    As dependence on U.S. dollar-denominated assets wanes, global investors are increasingly seeking to diversify their portfolios, said Tong, adding that the HKEX is working with counterparts in the Middle East and Southeast Asia to widen access to funding for tech firms worldwide. 

    MIL OSI China News –

  • MIL-OSI China: Global investors double down on Chinese assets

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

    China’s resilient economy, robust growth potential and improving corporate profitability are fueling more optimism and renewed interest in Chinese assets among foreign investors.

    Driven by China’s advancements in technology and rising confidence in its policy support to stabilize economic growth in the second half of the year, global investors are ramping up their exposure to Chinese equities and bonds.

    Major foreign financial institutions, including United States asset manager Franklin Templeton, investment bank Goldman Sachs and Swiss bank UBS have stepped up their allocations or expressed optimism about Chinese equities, citing favorable valuations, a peak in China-US trade tensions and optimism regarding China’s artificial intelligence-led transformation.

    Market watchers and economists said that a combination of proactive fiscal measures, targeted industrial policies and accelerating technological innovation is reinforcing China’s appeal as a destination for global capital.

    According to data released on Monday by the National Bureau of Statistics, China’s factory activity gauge improved marginally in June, as the official purchasing managers index for the manufacturing sector came in at 49.7 in June, up from 49.5 in May. Notably, the PMIs for equipment manufacturing, high-tech manufacturing and the consumer products sector came in at 51.4, 50.9 and 50.4, respectively, remaining in expansion territory for two straight months.

    “The story of China now is about growth,” said Fang Dongming, head of China Global Markets at UBS.

    Foreign investors will be attracted as long as companies promise growth and profit, whether it is in technology, healthcare, new energy or new types of consumption, Fang said.

    Multibillion-dollar US fund manager Franklin Templeton has started edging back into Chinese stocks for the first time in years, with a group of its funds managing around $2 billion buying into Chinese stocks in recent weeks, Zehrid Osmani, head of the company’s Global Long-Term Unconstrained team, told Reuters recently.

    The company believes that trade tensions with the US have peaked, and that China is expected to further support its technology giants, according to Osmani.

    Economists believe that China is well-positioned to achieve its annual growth target of around 5 percent, backed by proactive fiscal policy and moderately accommodative monetary policy.

    Zhang Xiaoyan, associate dean at Tsinghua University’s PBC School of Finance, said that China’s top leadership may sharpen its focus on ensuring domestic economic stability and maintaining stable relationships with its trading partners, which would further boost the confidence of domestic and foreign investors in the Chinese economy.

    Liu Qiao, dean of Peking University’s Guanghua School of Management, said that new policy tools in the second half might include fiscal transfers or cash subsidies for low-income groups, and supportive policies to address pressure on enterprises, especially listed companies, which would improve corporate cash flow and strengthen investment appetite.

    Driven by this favorable policy environment and long-term opportunities in sectors like technology, new energy and advanced manufacturing, global asset managers are reassessing their China allocations.

    The return of global capital is reflected in broader data. According to Goldman Sachs, global active funds have increased their China equity allocations from 5 percent in late September to 6.4 percent by late April. The investment bank maintains an “increase” stance for Chinese stocks, citing improving corporate profitability, foreign capital inflows and long-term value in yuan-denominated assets.

    Fu Si, China portfolio strategist at Goldman Sachs, has forecast that the CSI 300 Index — tracking 300 heavyweight stocks in Shanghai and Shenzhen — could reach 4,600 points, about 10 percent above current levels. Similarly, the MSCI China Index, widely tracked by global investors, is expected to rise another 10 percent in the coming months, supported by its current price-to-earnings ratio of just 11.5.

    Goldman Sachs also identified artificial intelligence as a key growth driver. It estimated that AI proliferation could lift the overall profitability of Chinese stocks by 2.5 percent annually over the next decade. China’s AI breakthroughs may attract $200 billion in fresh capital into its equity market, potentially driving stock prices up 15 to 20 percent.

    Zhang Di, chief macro analyst at China Galaxy Securities, highlighted that new policy-based financial instruments are likely to be introduced soon to support economic growth.

    “That will help support the growth of infrastructure and real estate in the second half of the year. And the focus will also be placed on supporting technological innovation, consumer-related infrastructure, and key sectors such as trade-in deals for consumer goods,” he said.

    According to Nomura Orient International Securities, Chinese equities could outperform global peers in the second half of 2025. Factors include expectations of more supportive policy, improving domestic liquidity, and rising global interest in Asia-Pacific markets amid a weaker US dollar.

    Market performance so far reflects rising confidence. The Shanghai Composite Index has gained about 5.6 percent so far this year, while the CSI 300 is up over 3 percent. Meanwhile, the Hang Seng Index in Hong Kong has surged over 23 percent this year, second only to South Korea’s KOSPI, which saw a 28 percent increase.

    MIL OSI China News –

  • MIL-OSI Economics: Heads of Multilateral Development Banks commit to strong joint action on development priorities

    Source: African Development Bank Group

    The Heads of Multilateral Development Banks (MDBs) met today in Paris, hosted by the Council of Europe Development Bank (CEB), which currently chairs the Heads of MDBs Group. The meeting focused on advancing their joint efforts to address development priorities.

    Amid rising global uncertainty, the Heads reaffirmed their commitment to working as a system to deliver greater impact and scale, in line with their Viewpoint Note and the recommendations of the G20 Roadmap towards Better, Bigger, and More Effective MDBs. The Roadmap outlines an ambitious vision for MDB reform to better address regional and global challenges, support job creation, and help countries achieve their development aspirations.

    The Heads welcomed ongoing efforts to improve the way MDBs work with clients through operational efficiency and enhanced coordination. In 2025 alone, five mutual reliance agreements have been signed, helping streamline the preparation and implementation of co-financed projects across institutions.

    Private capital mobilization remains a system-wide priority, with the last joint report of the MDBs reflecting a positive trend in volumes mobilized. To build on this momentum, the Heads reaffirmed their commitment to developing local currency lending and foreign exchange solutions. They also reaffirmed the importance of adequate risk assessment for private sector investment in emerging markets and developing economies; in this context, the valuable contribution of disaggregated statistics on credit risk published through the Global Emerging Markets Risk Database (GEMs) was recognized.

    The Heads reiterated their continued commitment to implementing the recommendations of the G20 Independent Review of Multilateral Development Banks’ Capital Adequacy Frameworks (CAF).  Further reform efforts by MDBs since mid-2024 have increased the additional lending headroom for development projects in all countries of operation, including high-income ones, over the next decade by more than US$250 billion, thus reaching a total of over US$650 billion.

    The publication in the coming weeks of the Comparison Report by the MDBs’ Global Risk and Finance Forum (GRaFF) will provide metrics and data relating to MDBs’ financial positions, promoting a better understanding of their financial models and supporting both balance sheet optimization and private sector mobilization. 

    The Heads also agreed to continue advancing promising initiatives already underway to strengthen system-wide impact. These include: 1) Mission 300, which aims to connect 300 million people in Africa to electricity by 2030 through public and private collaboration; 2) Association of South East Asian Nations (ASEAN) Power Grid, which aims to boost energy security, strengthen resilience, and promote decarbonization for the region’s 670 million people by connecting its electricity systems; and 3) Digital Transformation in Education in Latin America and the Caribbean, which aims to connect 3.5 million students and train over 250,000 teachers. 

    In addition, MDBs are exploring joint actions to scale up investments in social infrastructure, including health, education, housing, and water and sanitation. Building on structured dialogue led by the CEB, the Heads welcomed progress made through recent cross-MDB consultations and recognized the key role these sectors play in enabling jobs, productivity, and inclusive growth, while noting persistent financing and delivery challenges that constrain impact.

    Meeting in advance of the Fourth International Conference on Financing for Development (FfD4), which will take place in Sevilla, Spain, from 30 June to 3 July, MDBs remain committed to working better as a system, in alignment with country-led development priorities and strategies to promote jobs and prosperity. In view of water’s role in human development, MDBs committed to significantly increasing collective support for global water security by 2030, and will launch the first “Joint Annual MDB Water Security Financing Report” at FfD4. Heads noted the importance of the upcoming COP30 in Belem, Brazil, in November 2025.

    Today’s meeting in Paris marks a significant step toward effective collaboration and scaled-up collective action for development priorities. MDB reforms are advancing, moving from concept to execution.

    With streamlined operations, better risk tools, and growing financial capacity, MDBs are delivering real impact – from expanding energy access and digital education to scaling investment in water security.

    MIL OSI Economics –

  • MIL-OSI Economics: African Development Bank, AIIB sign MOU renewing their collaboration on sustainable economic development for Africa

    Source: African Development Bank Group

    The African Development Bank and the Asian Infrastructure Investment Bank (AIIB) have signed an agreement strengthening their collaboration on sustainable economic development, designed to boost infrastructure development and economic opportunities across the African continent.

    The Memorandum of Understanding, which builds on an earlier one in 2018, was signed by African Development Bank president, Dr. Akinwumi Adesina, and AIIB President and Chair of the Board of Directors Jin Liqun on Saturday 28 June. The signing took place on the sidelines of a meeting of Heads of Multilateral Development Banks held in Paris, France, the same day.

    The agreement outlines continued collaboration from both parties in six priority areas, aligned with the Bank Group’s Ten-Year Strategy 2024–2033 as well as AIIB’s Corporate Strategy and its Strategy on Financing Operations in Non-Regional Members. The areas are:

    • (i) Green infrastructure
    • (ii) Industrialization
    • (iii) Private capital mobilization including Public – Private Partnerships
    • (iv) Cross-border-connectivity
    • (v) Digitalization; and
    • (vi) Policy-based financing

    The MOU will promote among other things, co-financing, co-guaranteeing and other forms of joint participation in financial assistance for development projects primarily in sustainable infrastructure. The African Development Bank and AIIB’s existing cooperation in this area, includes providing guarantees to support the issuance of Egypt’s first Sustainable Panda Bond in 2023, valued at RMB 3.5 billion.

    This historic issuance—backed by guarantees from both AfDB and AIIB—marked the first African sovereign bond placed in the Chinese interbank bond market. The guarantees provided by the two triple-A-rated multilateral banks were instrumental in de-risking the transaction, enabling Egypt to secure competitive terms and attract investor confidence.

    “This partnership continues to be an effective pathway to provide economic development for our member countries, especially in infrastructure. By reaffirming today, we are boosting energy access by accelerating Mission 300 which is targeting to connect 300 million people to electricity by 2030,” Dr Adesina said.

    Mr. Jin Liqun remarked: “The renewal of our partnership with the African Development Bank reflects AIIB’s commitment to supporting sustainable development beyond Asia. Through this collaboration, we can leverage our combined expertise to deliver transformative projects that will benefit millions across the continent and create prosperity through quality infrastructure investment.”

    About the Asian Infrastructure Investment Bank (AIIB):

    The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing “infrastructure for tomorrow,” with sustainability at its core. AIIB began operations in 2016, now has 110 approved members worldwide, is capitalized at USD100 billion and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.

    MIL OSI Economics –

  • MIL-Evening Report: Aamir Khan’s big screen comeback, Sitaare Zameen Par, features an all-star neurodivergent cast – a Bollywood first

    Source: The Conversation (Au and NZ) – By Yanyan Hong, PhD Candidate in Communication, Media and Film Studies, University of Adelaide

    Bharti Dubey/X

    Bollywood star Aamir Khan’s return to the big screen after a three-year hiatus has been far from ordinary. Sitaare Zameen Par (2025) which translates to “stars on Earth”, is the first major Bollywood production to feature a mostly neurodivergent cast.

    A remake of the 2018 Spanish film Campeones, the story follows a mouthy, knuckle-headed basketball coach, Gulshan (Aamir Khan), who is put in charge of a team of players with intellectual disabilities.

    The film slowly grows into itself, much like its characters, but ultimately delivers what the trailer promises: a heartwarming, humorous and uplifting celebration of our individual differences.

    In an era of blockbuster spectacles, Aamir Khan Productions brings back a kind of Bollywood storytelling we haven’t seen in a while – something sincere, gentle and quietly revolutionary.

    Who is Aamir Khan?

    Aamir Khan was born in Mumbai in 1965, and started his acting career as a child actor in his uncle’s film Yaadon Ki Baaraat (1973).

    Khan is now one of Bollywood’s most enduring and respected figures. He is one of the iconic “three Khans”, alongside Shah Rukh Khan and Salman Khan (the three are unrelated), who have dominated Indian cinema since the 1990s.

    But unlike his Khan counterparts, Aamir Khan has carved a unique career path built on both commercial success and socially-driven storytelling.

    He is known for championing social causes through cinema. In one 2015 article, media studies professor Vamsee Juluri referred to him as a “national conscience figure”.

    Khan’s films don’t just entertain; they challenge norms and often spark national conversations on important issues.

    From producing Lagaan: Once Upon a Time in India (2001), India’s Oscar-nominated colonial-era sports epic, to his directorial debut Taare Zameen Par (2007), a moving portrait of a child with dyslexia, Khan’s work often brings underrepresented stories to the mainstream.

    Lagaan follows farmers from a small Indian village under British colonial rule. The British challenge the farmers to a game of cricket, in exchange for an exemption from paying the land tax (‘lagaan’).
    IMDb

    His film PK (2014) challenges religious dogma. Meanwhile, Dangal (2016) is a boundary-pushing film based on real-life female wrestlers from rural India, and is also Bollywood’s highest-grossing film of all time.

    Beyond the box office, Khan has hosted the TV show Satyamev Jayate (2012–14), which is also the national emblem of India, meaning “truth alone triumphs”.

    This show tackles various topics considered taboo in Indian societies, including female feticide, domestic violence and caste discrimination. It has reached millions of households, and even ignited parliamentary debates.

    Khan is also popular in other countries, including China, where his films 3 Idiots (2009), Dangal (2016) and Secret Superstar (2017) were massive hits that resonated with audiences for their universal themes.

    In Dangal (2016), Mahavir (Aamir Khan) trains his two daughters in wrestling.
    IMDb

    Sitaare Zameen Par marks his return following the commercial underperformance of Laal Singh Chaddha (2022), an Indian remake of Forrest Gump (1994).

    Sitaare (stars) who make the film shine

    Directed by R.S. Prasanna, Sitaare Zameen Par enjoyed a strong opening weekend at the box office.

    It stars ten individuals with special needs as they prepare for a basketball tournament under the direction of their coach (Khan). This plot alone makes the film a significant entry to Indian cinema, which often ignores or misrepresents disability.

    The neurodivergent stars of Sitaare Zameen Par are aged between 18 and 42.
    Aamir Khan Productions.

    Despite early online trolling and negativity, the film depicts its neurodivergent characters not as victims, or “inspirations”, but simply as people with dreams, struggles and joy.

    One line captures this beautifully: “Everyone sticks to their own normal. We each have our own normal.”

    Aamir Khan, now 60, plays a key role in the film, but doesn’t dominate it. Instead, his younger co-stars shine. The result is a healing film that celebrates inclusion, while being full of joy and humanity.

    Stories that matter

    No film is perfect. But it’s hard to dislike a film made with so much compassion.

    Bollywood as an industry has increasingly leaned into action-packed blockbusters, as well as nationalist and Hindu-centred narratives (such as in the 2022 film Brahmāstra).

    While many of these offer thrills, few deliver the kind of emotional and social depth that once defined Hindi cinema’s global appeal. Much like Taare Zameen Par – a spiritual prequel to the new release – did 18 years ago, Sitaare Zameen Par invites the audience to slow down and reflect.

    In Taare Zameen Par (2007), Khan plays a neurotypical teacher who helps a student with dyslexia.
    IMDb

    It prompts neurotypical viewers to see people with Down’s syndrome as part of the same emotional universe as them – and to laugh with, not at them.

    In an interview, Khan explains how the film goes further than just neurodivergent representation, to participation:

    In [Taare Zameen Par], it’s the teacher, Nikumbh, a supposedly neuro-typical person, who helps the child with dyslexia. In this film, ten neuro-atypical people are helping the coach, Gulshan. I feel Sitare takes the discourse of the first film ten steps ahead, especially in our country where people need to be sensitised to the topic of neurodivergence.

    Last week, India’s president, Droupadi Murmu, attended a special screening and met the cast. The visit sent a clear messsage: stories like this matter.

    With Sitaare Zameen Par, Aamir Khan returns to what he does best: using film as both a mirror and message for Indian society. While it won’t change the world overnight, it will make viewers see the world, and each other, a little differently.

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

    – ref. Aamir Khan’s big screen comeback, Sitaare Zameen Par, features an all-star neurodivergent cast – a Bollywood first – https://theconversation.com/aamir-khans-big-screen-comeback-sitaare-zameen-par-features-an-all-star-neurodivergent-cast-a-bollywood-first-259673

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Submissions: African countries need more PhD graduates but students are held back by a lack of money and support

    Source: The Conversation – Africa – By Oluwatomilayo Omoya, Lecturer in Nursing (Teaching and Reseach), Flinders University

    Moyo Studio/Getty Images

    Over the past 15 years there’s been an increasing demand from within and outside the higher education sector for African countries to produce more PhD graduates. For this to happen, it’s important to know what’s holding people back from pursuing or completing their doctoral degrees. The authors of a new review article did just that, with a focus on South Africa, Kenya, Ethiopia, Uganda and Nigeria. Five themes emerged from their work: PhD candidates’ sociodemographic profiles, access to funding, the availability of resources and training, experiences with PhD supervisors, and personal coping mechanisms.

    The Conversation Africa spoke with the paper’s authors, Oluwatomilayo Omoya, Udeme Samuel Jacob, Olumide A. Odeyemi and Omowale A. Odeyemi, to learn more about their findings.

    Why is it important for African countries to produce PhD graduates?

    PhD programmes have been shown to play a crucial role in advancing research, innovation, and economic and scientific progress.

    That’s because the more research capacity a country has, the more likely it will be able to address gaps in healthcare, economic barriers and food insecurity. This point has been emphasised by, among others, the World Health Organization (WHO) and the African Union.

    Doctoral education builds academic expertise. This drives growth across multiple sectors, such as health, education and technology. It also fosters an environment where creative and practical solutions to local challenges can thrive.

    What are some of the main obstacles PhD students faced in the countries you studied?

    Our study was a scoping review. This research method allowed us to broadly survey existing studies and identify key concepts, evidence types and knowledge gaps. The review included articles from different African countries, among them South Africa, Kenya, Ethiopia, Uganda and Nigeria.

    One of the biggest hurdles we identified for PhD students is a lack of resources. Many of the continent’s universities are underfunded. They struggle to offer their staff and students adequate research facilities, libraries and even internet access.



    Read more:
    Want to do your PhD in Africa? Here’s what you need to know

    Another major challenge is the shortage of quality doctoral supervision. In many African universities, the number of qualified supervisors is far lower than the number of doctoral candidates. This imbalance means that some students receive little attention. Their progress may suffer as a result.

    A PhD is, by nature, a solitary pursuit. But without the proper support, students can feel disconnected from the academic community. This sense of isolation can increase dropout rates and hinder the completion of research projects.



    Read more:
    South African universities need to better support doctoral supervisors

    Supervisors are frequently overwhelmed with other responsibilities – their own research, administrative duties, or teaching large undergraduate classes. This leaves them with limited time to mentor PhD students. The students they’re tasked with supervising can end up feeling isolated.

    Personal funding is also hard to come by. Scholarships are rare and, when they are available, they don’t always cover all the student’s expenses over the course of their research. Many students must work full-time jobs to support themselves while pursuing their doctorate. This can severely affect their ability to dedicate time to their studies.

    Even in cases where funding is available, it’s often linked to short-term projects or grants that don’t allow students to finish their research without interruption. This leads to long delays in graduation rates, which creates a bottleneck effect: students remain stuck in the system for years, clogging the flow of new researchers entering academia.



    Read more:
    PhDs are important for South Africa’s growth: more support for doctoral candidates who work full-time is key

    Another challenge is that African doctoral students who do succeed may leave their home countries for better opportunities abroad. The so-called “brain drain” phenomenon has a profound effect on Africa’s ability to build a strong academic community. While many African PhD students go on to do groundbreaking research in Europe, North America or Asia, their departure means their home institutions – and countries – lose valuable knowledge and experience.

    Brain drain is not just about better salaries or living conditions; it’s also about the availability of cutting-edge research opportunities. Once abroad, many students are able to access better resources and then choose to stay in environments that allow them to thrive professionally.

    What role does gender play in the likelihood of completing a PhD?

    Women pursuing PhDs face additional challenges that their male peers do not. We found that women PhD students frequently face gender biases, both socially and professionally, that make it harder to fulfil their academic goals.

    Over the past decade, the number of women enrolling in PhD training in some countries, such as Ethiopia and South Africa, has increased.

    However, women are less likely than men to complete their doctoral studies, partly because of the cultural expectations and responsibilities they bear. Female students who are married or have children must often balance managing their households and care-giving responsibilities with pursuing their studies.

    In regions where family is traditionally prioritised over career aspirations, women may feel an added layer of guilt or societal pressure, which can lessen the time they have to focus on research.

    Moreover, in areas where colonial or apartheid legacies still influence societal structures, Black women in particular report additional barriers. They say they feel overlooked or underestimated in academic spaces.

    There has been some progress. Organisations like the Consortium for Advanced Research Training in Africa (Carta) offer programmes that support women throughout their academic journeys. However, a greater, gender-responsive approach is needed to ensure that women have access to resources, mentorship and flexible support systems that address these unique challenges.

    Increasing support for women in PhD programmes isn’t just about numbers. It means institutions and the wider society must address the structural and cultural barriers that hold women back.

    Are there solutions to the issues you’ve identified?

    The challenges facing doctoral students in Africa are complex, but not impossible to overcome.

    With the right investments and a commitment to reform, universities on the continent can grow into global centres of excellence in research and development. It’s vital for societies not to lose sight of the importance of higher education. As we’ve said, and as a large body of evidence shows, strong doctoral training programmes and investing in research and innovation to address the challenges faced by the African continent are key to ensuring that the next generation of researchers and innovators can lead the way in solving some of the world’s most pressing problems.

    Governments, universities and funding organisations can collaborate by providing scholarships and research grants, creating gender equality policies, and introducing mentorship programmes or improving those that already exist.

    Udeme Samuel Jacob is affiliated with The South African Research Chair: Education and Care in Childhood, Faculty of Education, University of Johannesburg, Johannesburg, South Africa.

    Olumide A Odeyemi, Oluwatomilayo Omoya, and Omowale A Odeyemi do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. African countries need more PhD graduates but students are held back by a lack of money and support – https://theconversation.com/african-countries-need-more-phd-graduates-but-students-are-held-back-by-a-lack-of-money-and-support-243946

    MIL OSI –

  • MIL-OSI Submissions: African countries need more PhD graduates but students are held back by a lack of money and support

    Source: The Conversation – Africa – By Oluwatomilayo Omoya, Lecturer in Nursing (Teaching and Reseach), Flinders University

    Moyo Studio/Getty Images

    Over the past 15 years there’s been an increasing demand from within and outside the higher education sector for African countries to produce more PhD graduates. For this to happen, it’s important to know what’s holding people back from pursuing or completing their doctoral degrees. The authors of a new review article did just that, with a focus on South Africa, Kenya, Ethiopia, Uganda and Nigeria. Five themes emerged from their work: PhD candidates’ sociodemographic profiles, access to funding, the availability of resources and training, experiences with PhD supervisors, and personal coping mechanisms.

    The Conversation Africa spoke with the paper’s authors, Oluwatomilayo Omoya, Udeme Samuel Jacob, Olumide A. Odeyemi and Omowale A. Odeyemi, to learn more about their findings.

    Why is it important for African countries to produce PhD graduates?

    PhD programmes have been shown to play a crucial role in advancing research, innovation, and economic and scientific progress.

    That’s because the more research capacity a country has, the more likely it will be able to address gaps in healthcare, economic barriers and food insecurity. This point has been emphasised by, among others, the World Health Organization (WHO) and the African Union.

    Doctoral education builds academic expertise. This drives growth across multiple sectors, such as health, education and technology. It also fosters an environment where creative and practical solutions to local challenges can thrive.

    What are some of the main obstacles PhD students faced in the countries you studied?

    Our study was a scoping review. This research method allowed us to broadly survey existing studies and identify key concepts, evidence types and knowledge gaps. The review included articles from different African countries, among them South Africa, Kenya, Ethiopia, Uganda and Nigeria.

    One of the biggest hurdles we identified for PhD students is a lack of resources. Many of the continent’s universities are underfunded. They struggle to offer their staff and students adequate research facilities, libraries and even internet access.



    Read more:
    Want to do your PhD in Africa? Here’s what you need to know

    Another major challenge is the shortage of quality doctoral supervision. In many African universities, the number of qualified supervisors is far lower than the number of doctoral candidates. This imbalance means that some students receive little attention. Their progress may suffer as a result.

    A PhD is, by nature, a solitary pursuit. But without the proper support, students can feel disconnected from the academic community. This sense of isolation can increase dropout rates and hinder the completion of research projects.



    Read more:
    South African universities need to better support doctoral supervisors

    Supervisors are frequently overwhelmed with other responsibilities – their own research, administrative duties, or teaching large undergraduate classes. This leaves them with limited time to mentor PhD students. The students they’re tasked with supervising can end up feeling isolated.

    Personal funding is also hard to come by. Scholarships are rare and, when they are available, they don’t always cover all the student’s expenses over the course of their research. Many students must work full-time jobs to support themselves while pursuing their doctorate. This can severely affect their ability to dedicate time to their studies.

    Even in cases where funding is available, it’s often linked to short-term projects or grants that don’t allow students to finish their research without interruption. This leads to long delays in graduation rates, which creates a bottleneck effect: students remain stuck in the system for years, clogging the flow of new researchers entering academia.



    Read more:
    PhDs are important for South Africa’s growth: more support for doctoral candidates who work full-time is key

    Another challenge is that African doctoral students who do succeed may leave their home countries for better opportunities abroad. The so-called “brain drain” phenomenon has a profound effect on Africa’s ability to build a strong academic community. While many African PhD students go on to do groundbreaking research in Europe, North America or Asia, their departure means their home institutions – and countries – lose valuable knowledge and experience.

    Brain drain is not just about better salaries or living conditions; it’s also about the availability of cutting-edge research opportunities. Once abroad, many students are able to access better resources and then choose to stay in environments that allow them to thrive professionally.

    What role does gender play in the likelihood of completing a PhD?

    Women pursuing PhDs face additional challenges that their male peers do not. We found that women PhD students frequently face gender biases, both socially and professionally, that make it harder to fulfil their academic goals.

    Over the past decade, the number of women enrolling in PhD training in some countries, such as Ethiopia and South Africa, has increased.

    However, women are less likely than men to complete their doctoral studies, partly because of the cultural expectations and responsibilities they bear. Female students who are married or have children must often balance managing their households and care-giving responsibilities with pursuing their studies.

    In regions where family is traditionally prioritised over career aspirations, women may feel an added layer of guilt or societal pressure, which can lessen the time they have to focus on research.

    Moreover, in areas where colonial or apartheid legacies still influence societal structures, Black women in particular report additional barriers. They say they feel overlooked or underestimated in academic spaces.

    There has been some progress. Organisations like the Consortium for Advanced Research Training in Africa (Carta) offer programmes that support women throughout their academic journeys. However, a greater, gender-responsive approach is needed to ensure that women have access to resources, mentorship and flexible support systems that address these unique challenges.

    Increasing support for women in PhD programmes isn’t just about numbers. It means institutions and the wider society must address the structural and cultural barriers that hold women back.

    Are there solutions to the issues you’ve identified?

    The challenges facing doctoral students in Africa are complex, but not impossible to overcome.

    With the right investments and a commitment to reform, universities on the continent can grow into global centres of excellence in research and development. It’s vital for societies not to lose sight of the importance of higher education. As we’ve said, and as a large body of evidence shows, strong doctoral training programmes and investing in research and innovation to address the challenges faced by the African continent are key to ensuring that the next generation of researchers and innovators can lead the way in solving some of the world’s most pressing problems.

    Governments, universities and funding organisations can collaborate by providing scholarships and research grants, creating gender equality policies, and introducing mentorship programmes or improving those that already exist.

    Udeme Samuel Jacob is affiliated with The South African Research Chair: Education and Care in Childhood, Faculty of Education, University of Johannesburg, Johannesburg, South Africa.

    Olumide A Odeyemi, Oluwatomilayo Omoya, and Omowale A Odeyemi do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. African countries need more PhD graduates but students are held back by a lack of money and support – https://theconversation.com/african-countries-need-more-phd-graduates-but-students-are-held-back-by-a-lack-of-money-and-support-243946

    MIL OSI –

  • MIL-OSI Submissions: 1.5 million-year-old bone tools discovered in Tanzania rewrite the history of human evolution

    Source: The Conversation – Africa (2) – By Jackson K. Njau, Associate professor, Indiana University

    The ancestors of humans started making tools about 3.3 million years ago. First they made them out of stone, then they switched to bone as a raw material. Until recently, the earliest clear evidence of bone tool making was from sites in Europe, dated to 400,000 years ago. But archaeologists have now found and dated bone tools in Tanzania that are a million years older.

    The tools are made from the bones of large animals like hippos and elephants, and have been deliberately shaped to make them useful for butchering large carcasses.

    The discovery of bone implements that are the oldest ever found, by far, casts light on human evolution. It shows that our hominin ancestors were able to think about and make this technology a lot earlier than anyone realised.

    I am a scientist who co-directs a multidisciplinary research project team at the Olduvai Gorge in Tanzania, focusing on hominin evolution. Our project’s main goal has been to investigate the changes in hominin technology and behaviour that happened between 1.66 million and 1.4 million years ago.

    We’re interested in this time period because it marks a pivotal change in human technology, from the rudimentary stone knives and cores of the Oldowan culture to the more advanced crafted stone handaxes of the Acheulean culture.

    We found the Olduvai bone tools in 2018 and recently described them in the journal Nature. They show that by 1.5 million years ago, our ancestors (Homo erectus) had already developed the cognitive abilities required to transfer skills from making stone tools to making bone tools.

    This leap in human history was a game-changer because it allowed early hominins to overcome survival challenges in landscapes where suitable stone materials were scarce.

    Tools at Olduvai

    Olduvai Gorge is a Unesco World Heritage site. It became well known in 1959 through the pioneering work of palaeontologists Louis and Mary Leakey, whose discoveries of early human remains reshaped our understanding of human evolution. The site offers an unparalleled window into human history, spanning nearly 2 million years.



    Read more:
    Finds in Tanzania’s Olduvai Gorge reveal how ancient humans adapted to change

    Aside from fossilised bones, it has yielded the most detailed record of stone tool cultures in the world. It has documented the evolution from the simple chopping tools and stone knives of the Oldowan industry (about 2 million years ago) to the more advanced Acheulean tools (1.7 million years ago), such as handaxes, cleavers, picks and spheroids and then on – through arrowheads, points and blades (about 200,000 years ago) to the micro-blades of the Later Stone Age (about 17,000 years ago).

    All these tools provide a glimpse into the ingenuity and cultural advancements of our early ancestors.

    And now the picture has new detail.

    Our team uncovered 27 ancient bone tools during excavations at the T69 Complex, FLK West site at Olduvai. We know how old they are because we found them securely embedded underground where they had been left 1.5 million years ago, along with thousands of stone artefacts and fossilised bones. We dated them using geochronological techniques.

    Unlike stone, bone shafts crack and break in a way that allows the systematic production of elongated, well-shaped artifacts. Flaking them by hitting them with another object – a process called knapping – results in pointed tools that would be ideal for butchering, chopping and other tasks.

    The knapped tools we found were made from large shaft fragments that came from the limb bones of elephants and hippos, and were found at hippo butchery sites. Hominins likely brought elephant bones to the site on a regular basis, and obtained limb bones from butchered hippos at the site itself.

    What Homo erectus knew

    The find shows that 1.5 million years ago, Homo erectus could apply knapping skills to bone. Homo erectus, regarded as the evolutionary successor to the smaller-brained Homo habilis, left a lasting imprint on history. Its fossils, found at Olduvai, offer a glimpse into a span of about a million years, stretching from 1.5 million to roughly 500,000 years ago.

    Now we know that these hominins not only understood the physical properties of bones but also knew about skeletal anatomy. They could identify and select bones suitable for flaking. And they knew which animals had skeletons large enough to craft reliable tools after the animals’ death.



    Read more:
    Large mammals shaped the evolution of humans: here’s why it happened in Africa

    We don’t know exactly why they chose bones as a raw material. It may have been that suitable stone material was scarce, or they recognised that bones provided a better grip and were more durable.

    Why haven’t such old bone tools been found before? The answer is likely that they are destroyed by weathering, abrasion from water transport, trampling and scavenger activity. Organic materials don’t always get time to fossilise. Also, analysts were not used to looking for bone tools among fossils.

    This discovery will likely encourage researchers to pay closer attention to the subtle signs of bone knapping in fossil assemblages. This way we will learn more about the evolution of human technology and behaviour.

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

    – ref. 1.5 million-year-old bone tools discovered in Tanzania rewrite the history of human evolution – https://theconversation.com/1-5-million-year-old-bone-tools-discovered-in-tanzania-rewrite-the-history-of-human-evolution-251826

    MIL OSI –

  • MIL-OSI Submissions: 1.5 million-year-old bone tools discovered in Tanzania rewrite the history of human evolution

    Source: The Conversation – Africa (2) – By Jackson K. Njau, Associate professor, Indiana University

    The ancestors of humans started making tools about 3.3 million years ago. First they made them out of stone, then they switched to bone as a raw material. Until recently, the earliest clear evidence of bone tool making was from sites in Europe, dated to 400,000 years ago. But archaeologists have now found and dated bone tools in Tanzania that are a million years older.

    The tools are made from the bones of large animals like hippos and elephants, and have been deliberately shaped to make them useful for butchering large carcasses.

    The discovery of bone implements that are the oldest ever found, by far, casts light on human evolution. It shows that our hominin ancestors were able to think about and make this technology a lot earlier than anyone realised.

    I am a scientist who co-directs a multidisciplinary research project team at the Olduvai Gorge in Tanzania, focusing on hominin evolution. Our project’s main goal has been to investigate the changes in hominin technology and behaviour that happened between 1.66 million and 1.4 million years ago.

    We’re interested in this time period because it marks a pivotal change in human technology, from the rudimentary stone knives and cores of the Oldowan culture to the more advanced crafted stone handaxes of the Acheulean culture.

    We found the Olduvai bone tools in 2018 and recently described them in the journal Nature. They show that by 1.5 million years ago, our ancestors (Homo erectus) had already developed the cognitive abilities required to transfer skills from making stone tools to making bone tools.

    This leap in human history was a game-changer because it allowed early hominins to overcome survival challenges in landscapes where suitable stone materials were scarce.

    Tools at Olduvai

    Olduvai Gorge is a Unesco World Heritage site. It became well known in 1959 through the pioneering work of palaeontologists Louis and Mary Leakey, whose discoveries of early human remains reshaped our understanding of human evolution. The site offers an unparalleled window into human history, spanning nearly 2 million years.



    Read more:
    Finds in Tanzania’s Olduvai Gorge reveal how ancient humans adapted to change

    Aside from fossilised bones, it has yielded the most detailed record of stone tool cultures in the world. It has documented the evolution from the simple chopping tools and stone knives of the Oldowan industry (about 2 million years ago) to the more advanced Acheulean tools (1.7 million years ago), such as handaxes, cleavers, picks and spheroids and then on – through arrowheads, points and blades (about 200,000 years ago) to the micro-blades of the Later Stone Age (about 17,000 years ago).

    All these tools provide a glimpse into the ingenuity and cultural advancements of our early ancestors.

    And now the picture has new detail.

    Our team uncovered 27 ancient bone tools during excavations at the T69 Complex, FLK West site at Olduvai. We know how old they are because we found them securely embedded underground where they had been left 1.5 million years ago, along with thousands of stone artefacts and fossilised bones. We dated them using geochronological techniques.

    Unlike stone, bone shafts crack and break in a way that allows the systematic production of elongated, well-shaped artifacts. Flaking them by hitting them with another object – a process called knapping – results in pointed tools that would be ideal for butchering, chopping and other tasks.

    The knapped tools we found were made from large shaft fragments that came from the limb bones of elephants and hippos, and were found at hippo butchery sites. Hominins likely brought elephant bones to the site on a regular basis, and obtained limb bones from butchered hippos at the site itself.

    What Homo erectus knew

    The find shows that 1.5 million years ago, Homo erectus could apply knapping skills to bone. Homo erectus, regarded as the evolutionary successor to the smaller-brained Homo habilis, left a lasting imprint on history. Its fossils, found at Olduvai, offer a glimpse into a span of about a million years, stretching from 1.5 million to roughly 500,000 years ago.

    Now we know that these hominins not only understood the physical properties of bones but also knew about skeletal anatomy. They could identify and select bones suitable for flaking. And they knew which animals had skeletons large enough to craft reliable tools after the animals’ death.



    Read more:
    Large mammals shaped the evolution of humans: here’s why it happened in Africa

    We don’t know exactly why they chose bones as a raw material. It may have been that suitable stone material was scarce, or they recognised that bones provided a better grip and were more durable.

    Why haven’t such old bone tools been found before? The answer is likely that they are destroyed by weathering, abrasion from water transport, trampling and scavenger activity. Organic materials don’t always get time to fossilise. Also, analysts were not used to looking for bone tools among fossils.

    This discovery will likely encourage researchers to pay closer attention to the subtle signs of bone knapping in fossil assemblages. This way we will learn more about the evolution of human technology and behaviour.

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

    – ref. 1.5 million-year-old bone tools discovered in Tanzania rewrite the history of human evolution – https://theconversation.com/1-5-million-year-old-bone-tools-discovered-in-tanzania-rewrite-the-history-of-human-evolution-251826

    MIL OSI –