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Category: Asia

  • MIL-OSI Africa: Afreximbank acts as global coordinator and mandated lead arranger for $1.6bn facility for Suriname’s Staatsolie


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    African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has acted as global coordinator and joint mandated lead arranger for a senior secured term loan facility amounting to US$1.6 billion, in favour of Staatsolie Maatschappij Suriname N.V. (Staatsolie), Suriname’s state-owned energy company, in a major boost to the country’s GranMorgu upstream offshore oil project.

    Afreximbank, Banco Latinoamericano de Comercio Exterior, S.A. (Bladex), along with another major international bank and Staatsolie signed the agreement on the 14th of May 2025. Perella Weinberg acted as an advisor to Staatsolie on the transaction.

    According to the terms of the agreement, the proceeds of the facility will support Staatsolie in partially refinancing existing debt and funding its 20 per cent working interest in the GranMorgu upstream offshore oil project.

    The transaction, the first syndicated loan for which Afreximbank has been mandated on in the Caribbean region, also represents the largest project financing transaction in Suriname’s history and paves the way for the country’s initial offshore oil production by mid-2028.

    Capital investments in the project are expected to exceed US$12 billion, with Staatsolie contributing 20 per cent, or US$2.4 billion. The expected revenue generation, depending on oil price, is projected at over US$26 billion for Staatsolie and the Government of Suriname over the operational life, significantly boosting economic development.

    The project, which stands out for its low-carbon design, featuring a fully electric floating production, storage, and offloading unit with a production capacity of 220,000 barrels per day, will more than double Staatsolie´s production, providing Suriname with royalties and dividends.

    Commenting on the transaction, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said that it will significantly transform the Surinamese economy. “Afreximbank is most pleased to have played a pivotal role in arranging this financing for Suriname’s Staatsolie. It marks a significant milestone in the Bank’s interventions in the Caribbean and a firm statement of intent by the Bank to support investments in strategic programmes/projects that are consequential to the transformation of the Surinamese economy. Beyond this investment, the Bank is supporting initiatives that will catalyse local participation in the country’s oil and gas sector with the aim of ensuring maximum benefits from the natural resource accrue to the indigenes of Suriname and the larger Caribbean.”

    Staatsolie is engaged in exploration, production, refining, retail fuel distribution and power generation. Staatsolie also has a working interest in two gold projects in Suriname. It seeks to develop energy resources to maximise the long-term value for Staatsolie and Suriname, energizing a bright future for Suriname

    Annand Jagesar, Managing Director of Staatsolie said: “We have built a solid foundation for Staatsolie to participate in GranMorgu and possible future projects and are embarking on a new phase of transformational growth for the company and the country.”

    BLADEX, a multinational bank founded in 1979, provides financial solutions to companies and investors doing business in Latin America. It is headquartered in Panama City and has five offices in Latin America and the United States.

    Distributed by APO Group on behalf of Afreximbank.

    Media Contact:
    Vincent Musumba
    Communications and Events Manager (Media Relations)
    Email: press@afreximbank.com

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    About Afreximbank:
    African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

    For more information, visit: www.Afreximbank.com

    MIL OSI Africa –

  • High-level visits cement strategic partnership between India and Cyprus

    Source: Government of India

    Source: Government of India (4)

    India and the Republic of Cyprus (RoC) have sustained and deepened their bilateral relations through a series of high-level political engagements, Ministerial meetings, and institutional consultations in recent years. A statement issued by the Ministry of External Affairs (MEA) said that both countries have consistently reaffirmed their commitment to enhancing cooperation across a wide spectrum of areas including trade, innovation, defence, maritime, legal exchange, and digital transformation.

    The foundation of this longstanding relationship has been reinforced through key high-level visits. President Nicos Anastasiades of RoC paid a State visit to India from 24–29 April 2017, while the then President of India, Ram Nath Kovind, visited Cyprus from 2–4 September 2018. In subsequent years, bilateral ties have continued to progress through meetings between top leadership and diplomatic representatives.

    Prime Minister Narendra Modi met President Anastasiades during the United Nations General Assembly (UNGA) in New York on 26 September 2019 and earlier during the Commonwealth Heads of Government Meeting (CHOGM) in London on 20 April 2018.

    External Affairs Minister Dr. S. Jaishankar has had multiple engagements with his Cypriot counterparts in recent years. In a virtual meeting with then Foreign Minister Nikos Christodoulides on 16 February 2021, both sides expressed satisfaction over the growing trajectory of bilateral ties and agreed to maintain momentum across high-level exchanges, economic partnership, and people-to-people ties. EAM Jaishankar held further discussions with Foreign Minister Ioannis Kasoulides on the sidelines of CHOGM 2022 in Kigali and again at the 77th UNGA in New York in September 2022.

    EAM Dr. Jaishankar visited Cyprus from 29–31 December 2022. During the visit, he held meetings with Acting President and Speaker of the House of Representatives Annita Demetriou, and Foreign Minister Ioannis Kasoulides. Two key agreements were signed: a Memorandum of Understanding (MoU) on Defence and Military Cooperation and a Declaration of Intent on a Migration and Mobility Partnership Agreement (MMPA). Additionally, RoC joined the International Solar Alliance during this visit. EAM and his counterpart also addressed an Economic and Business Forum in Limassol on 30 December 2022.

    Engagements between the two countries have continued at multilateral fora. EAM met with RoC Foreign Minister Dr. Constantinos Kombos on the sidelines of the EU-Indo Pacific Forum in Stockholm on 13 May 2023, and again during the 78th UNGA in New York on 23 September 2023, followed by another meeting during the 79th UNGA on 25 September 2024, and later during the Doha Forum on 7 December 2024.

    Minister of State for Ports, Shipping and Waterways Shantanu Thakur visited Cyprus from 8–11 October 2023 to attend the “Cyprus Maritime 2023 Conference” in Limassol. The event, inaugurated by President Nikos Christodoulides, served as a platform to discuss maritime cooperation and future shipping partnerships. On the sidelines, MoS held a bilateral meeting with the Shipping Deputy Minister Marina Hadjimanolis and also engaged with the Indian shipping community and professionals based in Cyprus.

    Dr. Nicodemos Damianou, Deputy Minister of Research, Innovation and Digital Policy of RoC, led a delegation to New Delhi from 5–6 September 2024 to participate in the “CII India Mediterranean Business Conclave.” He joined Commerce Minister Piyush Goyal and EAM Jaishankar during a ministerial session on trade and investment.

    Judicial and legal cooperation also received a boost when a high-level delegation from India, led by Justice Surya Kant and Attorney General R. Venkataramani, visited RoC to attend the Commonwealth Legal Education Association (CLEA) International Conference held at UCLan Cyprus from 7–8 October 2024.

    To institutionalize the strategic dialogue, the sixth round of Foreign Office Consultations (FOC) was held on 26 November 2024 in Nicosia.

  • High-level visits cement strategic partnership between India and Cyprus

    Source: Government of India

    Source: Government of India (4)

    India and the Republic of Cyprus (RoC) have sustained and deepened their bilateral relations through a series of high-level political engagements, Ministerial meetings, and institutional consultations in recent years. A statement issued by the Ministry of External Affairs (MEA) said that both countries have consistently reaffirmed their commitment to enhancing cooperation across a wide spectrum of areas including trade, innovation, defence, maritime, legal exchange, and digital transformation.

    The foundation of this longstanding relationship has been reinforced through key high-level visits. President Nicos Anastasiades of RoC paid a State visit to India from 24–29 April 2017, while the then President of India, Ram Nath Kovind, visited Cyprus from 2–4 September 2018. In subsequent years, bilateral ties have continued to progress through meetings between top leadership and diplomatic representatives.

    Prime Minister Narendra Modi met President Anastasiades during the United Nations General Assembly (UNGA) in New York on 26 September 2019 and earlier during the Commonwealth Heads of Government Meeting (CHOGM) in London on 20 April 2018.

    External Affairs Minister Dr. S. Jaishankar has had multiple engagements with his Cypriot counterparts in recent years. In a virtual meeting with then Foreign Minister Nikos Christodoulides on 16 February 2021, both sides expressed satisfaction over the growing trajectory of bilateral ties and agreed to maintain momentum across high-level exchanges, economic partnership, and people-to-people ties. EAM Jaishankar held further discussions with Foreign Minister Ioannis Kasoulides on the sidelines of CHOGM 2022 in Kigali and again at the 77th UNGA in New York in September 2022.

    EAM Dr. Jaishankar visited Cyprus from 29–31 December 2022. During the visit, he held meetings with Acting President and Speaker of the House of Representatives Annita Demetriou, and Foreign Minister Ioannis Kasoulides. Two key agreements were signed: a Memorandum of Understanding (MoU) on Defence and Military Cooperation and a Declaration of Intent on a Migration and Mobility Partnership Agreement (MMPA). Additionally, RoC joined the International Solar Alliance during this visit. EAM and his counterpart also addressed an Economic and Business Forum in Limassol on 30 December 2022.

    Engagements between the two countries have continued at multilateral fora. EAM met with RoC Foreign Minister Dr. Constantinos Kombos on the sidelines of the EU-Indo Pacific Forum in Stockholm on 13 May 2023, and again during the 78th UNGA in New York on 23 September 2023, followed by another meeting during the 79th UNGA on 25 September 2024, and later during the Doha Forum on 7 December 2024.

    Minister of State for Ports, Shipping and Waterways Shantanu Thakur visited Cyprus from 8–11 October 2023 to attend the “Cyprus Maritime 2023 Conference” in Limassol. The event, inaugurated by President Nikos Christodoulides, served as a platform to discuss maritime cooperation and future shipping partnerships. On the sidelines, MoS held a bilateral meeting with the Shipping Deputy Minister Marina Hadjimanolis and also engaged with the Indian shipping community and professionals based in Cyprus.

    Dr. Nicodemos Damianou, Deputy Minister of Research, Innovation and Digital Policy of RoC, led a delegation to New Delhi from 5–6 September 2024 to participate in the “CII India Mediterranean Business Conclave.” He joined Commerce Minister Piyush Goyal and EAM Jaishankar during a ministerial session on trade and investment.

    Judicial and legal cooperation also received a boost when a high-level delegation from India, led by Justice Surya Kant and Attorney General R. Venkataramani, visited RoC to attend the Commonwealth Legal Education Association (CLEA) International Conference held at UCLan Cyprus from 7–8 October 2024.

    To institutionalize the strategic dialogue, the sixth round of Foreign Office Consultations (FOC) was held on 26 November 2024 in Nicosia.

  • Rugby Premier League kicks off in Mumbai with glitzy opening ceremony

    Source: Government of India

    Source: Government of India (4)

    The inaugural season of the Rugby Premier League (RPL) got underway on Sunday with a grand opening ceremony at the Shahaji Raje Bhosale Sports Complex (Andheri Sports Complex), Mumbai, marking a significant moment for the sport in India.

    The event saw attendance from a mix of sports officials, Bollywood celebrities, and business leaders. Abhishek Bachchan, who serves as the Sports Ambassador and Friend of Rugby, joined GBS Raju, Business Chairman – Airports, GMR Group, and Rahul Bose, President of Rugby India, in unveiling the tournament’s trophy.

    The 22-inch tall trophy, as described by the organisers, features a black nickel-plated hand holding a gold-plated rugby ball, symbolising teamwork, strength, and collective effort — the core tenets of the sport. The use of fused metals was said to represent India’s blend of tradition and modernity.

    The opening evening also included a musical performance by composer-singer Shankar Mahadevan, who presented the official Rugby Anthem, energising the crowd. The event drew several film personalities including Shabana Azmi, Siddharth Roy Kapur, Vidya Balan, Aparshakti Khurana, and Ishwak Singh.

    The league will feature six franchises competing over 34 matches across two weeks. Thirty Indian players, selected from a pool of 71 during the league’s player auction, will play alongside international names, offering a global flavour to the contest.

    The final is slated for June 29, concluding what promises to be a fortnight of high-intensity action and a major push for rugby’s popularity in India.

    The Season 1 finale is set for June 29, capping two weeks of high-octane rugby as teams battle for the coveted title.

  • Rugby Premier League kicks off in Mumbai with glitzy opening ceremony

    Source: Government of India

    Source: Government of India (4)

    The inaugural season of the Rugby Premier League (RPL) got underway on Sunday with a grand opening ceremony at the Shahaji Raje Bhosale Sports Complex (Andheri Sports Complex), Mumbai, marking a significant moment for the sport in India.

    The event saw attendance from a mix of sports officials, Bollywood celebrities, and business leaders. Abhishek Bachchan, who serves as the Sports Ambassador and Friend of Rugby, joined GBS Raju, Business Chairman – Airports, GMR Group, and Rahul Bose, President of Rugby India, in unveiling the tournament’s trophy.

    The 22-inch tall trophy, as described by the organisers, features a black nickel-plated hand holding a gold-plated rugby ball, symbolising teamwork, strength, and collective effort — the core tenets of the sport. The use of fused metals was said to represent India’s blend of tradition and modernity.

    The opening evening also included a musical performance by composer-singer Shankar Mahadevan, who presented the official Rugby Anthem, energising the crowd. The event drew several film personalities including Shabana Azmi, Siddharth Roy Kapur, Vidya Balan, Aparshakti Khurana, and Ishwak Singh.

    The league will feature six franchises competing over 34 matches across two weeks. Thirty Indian players, selected from a pool of 71 during the league’s player auction, will play alongside international names, offering a global flavour to the contest.

    The final is slated for June 29, concluding what promises to be a fortnight of high-intensity action and a major push for rugby’s popularity in India.

    The Season 1 finale is set for June 29, capping two weeks of high-octane rugby as teams battle for the coveted title.

  • Indian students being relocated to safer places in Iran amid escalating tensions: MEA

    Source: Government of India

    Source: Government of India (4)

    Amid the escalating conflict between Iran and Israel, the Ministry of External Affairs (MEA) on Monday said India is closely monitoring the situation to ensure the safety and welfare of its nationals in both countries.

    In a statement posted on X, MEA spokesperson Randhir Jaiswal said: “The Indian Embassy in Tehran is continuously monitoring the security situation and engaging Indian students in Iran to ensure their safety. In some cases, students are being relocated with the Embassy’s facilitation to safer places within Iran. Other feasible options are also under examination.”

    The MEA added that the Indian Embassy is also in contact with community leaders across Iran to assess and support the welfare of Indian citizens.

    Over 1,500 Indian students—mostly from Jammu and Kashmir—are currently stranded in Iran. Many are pursuing professional degrees such as MBBS in cities including Tehran, Shiraz, and Qom.

    On Sunday, Jammu and Kashmir’s former Chief Minister Omar Abdullah said he had spoken with External Affairs Minister S. Jaishankar regarding the safety of these students.

    Several parents have also appealed to Prime Minister Narendra Modi and Jaishankar to intervene and arrange for their children’s safe return to India.

    Earlier, the Indian Embassy in Iran issued an advisory urging all Indian nationals and Persons of Indian Origin to remain vigilant. The advisory, shared on its X account, included a Google form for individuals to register their details.

    “Please remember, it is important not to panic, exercise due caution and maintain contact with the Embassy of India in Tehran,” the embassy said.

    It also shared a Telegram link, asking Indian citizens to join the channel for real-time updates.

    (With inputs from IANS)

  • Ahmedabad plane crash: DNA samples of 80 victims matched, bodies of 33 handed over to kin

    Source: Government of India

    Source: Government of India (4)

    The number of confirmed DNA matches in the Ahmedabad plane crash has reached 80, including that of former Gujarat Chief Minister Vijay Rupani. Of these, 33 bodies have been handed over to their families, Dr Rajneesh Patel, Additional Superintendent of Ahmedabad Civil Hospital, said on Sunday.

    The Boeing 787-8 Dreamliner, headed for London, crashed into a hostel complex shortly after taking off from the Sardar Vallabhbhai Patel International Airport. The crash claimed 241 lives, including 229 passengers and 12 crew members. Among those killed was Vijay Rupani, who served as Gujarat’s Chief Minister between 2016 and 2021.

    Dr Patel said that families of two more victims were expected to arrive by Monday night, while 13 families had scheduled to collect the remains on Tuesday. In 21 cases, the handover of bodies will take place after further consultations with next of kin.

    In the case of 11 victims, their relatives were also among the deceased. These bodies will be released once the remaining DNA matches are completed.

    So far, the bodies handed over have been from various parts of Gujarat and Rajasthan: 12 from Ahmedabad, five from Baroda, four each from Mehsana and Anand, two each from Kheda and Bharuch, and one each from Udaipur, Jodhpur, Botad, and Aravalli.

    To assist families during the identification and repatriation process, the state government has formed dedicated support teams. Each team comprises a senior administrative officer, a police official, and a professional counsellor. These teams are tasked with offering emotional and logistical support to the grieving families.

    Authorities have assured that each body will be handed over with full dignity.

    Out of 242 people on board the aircraft, only one — Vishwashkumar Ramesh, a British national of Indian origin — survived the crash. He is currently undergoing treatment at a private hospital.

    In addition to those on board, at least 33 individuals — including MBBS students and local residents — died when the aircraft crashed into the doctors’ hostel building.

    ANI

  • MIL-OSI Asia-Pac: Policy Address consultation begins

    Source: Hong Kong Information Services

    The Government launched a public consultation ahead of the 2025 Policy Address today.

    Chief Executive John Lee will deliver his fourth Policy Address this September.

    “I have endeavoured to transform the culture of the Government into one that is result-oriented, works at a faster pace, and is proactive,” he said.

    “My team and I have been listening to the views of the public and focusing on serving the community. We are committed to developing the economy and improving people’s livelihoods to ensure our initiatives effectively respond to the needs of members of the public.

    “Hong Kong continues to forge ahead with its unique advantages under the principle of ‘one country, two systems’, benefitting from the strong support of the motherland and remaining closely connected to the world.

    “Hong Kong is currently facing economic restructuring. The Government will continue to lead all sectors of society in consolidating and enhancing the factors for Hong Kong’s success while upholding our principles and being innovative in advancing reforms.

    “We will endeavour to explore new growth areas, trade markets and frontiers, deepen international exchanges and co-operation, and enhance regional collaboration to foster economic growth and development.”

    More than 40 consultation sessions will be held with the aim of gathering views and suggestions from Legislative Council members, representatives of various sectors, and members of the public. Mr Lee and his governing team will also conduct district visits to listen to a variety of views.

    “I invite you all to give your views on the 2025 Policy Address,” he added. “My team and I will listen to and consider your views carefully, and we look forward to receiving your input to build a better Hong Kong together.”

    People can submit their views via the Policy Address website, the dedicated Facebook page, by email, by phone on 2432 1899 or by fax on 2537 9083.

    MIL OSI Asia Pacific News –

  • Bayern Munich shows might, topples Auckland City 10-0

    Source: Government of India

    Source: Government of India (4)

    Michael Olise scored two goals with two assists, all in the first half, and Germany’s Bayern Munich was off and running toward a 10-0 victory over New Zealand’s Auckland City in a Group C opener of the FIFA Club World Cup at Cincinnati.

    Kinglesly Coman also scored a pair of first-half goals for Bayern Munich, including the opening goal of the tournament in the sixth minute, after Saturday’s game between Egypt’s Al Ahly and Inter Miami FC ended in a scoreless draw.

    Olise scored goals in the 20th minute and the third minute of first-half stoppage time. His early assists came on Coman’s second goal, for a 4-0 lead in the 22nd minute and his second came on a score from veteran Thomas Muller for a 5-0 lead in the 45th minute.

    Bayern Munich further distanced itself in the second half, with midfielder Jamal Musiala scoring three goals in a 16-minute stretch. Muller capped the scoring with a goal in the 89th minute and also had an assist on Musiala’s first goal in the 68th minute.

    The champions of the just-completed Bundesliga in Germany, Bayern Munich had possession for 71 percent of the match and had 17 shots on target to just one for Auckland City. Bayern Munich goalkeeper Manuel Neuer made one save.

    Auckland City goalkeeper Conor Tracey made seven saves.

    Bayern Munich next faces Argentina’s Boca Juniors in Group C play at Miami on Friday. Auckland City is set to face Portugal’s SL Benifica at Orlando, also on Friday.

    -Reuters

  • MIL-OSI New Zealand: Defence News – Anzac delegation rounds off Pacific tour with constructive Timor-Leste visit

    Source: New Zealand Defence Force

    New Zealand’s Chief of Army, Major General Rose King, and Australia’s Chief of Army, Lieutenant General Simon Stuart, combined for a joint visit to Timor-Leste last week.

    The two chiefs met with senior Ministry of Defence and Falintil-Forcas de Defesa de Timor-Leste (F-FDTL) members to discuss shared security priorities and long-standing partnership and cooperation programmes. These included ways to continue to support and strengthen F-FDTL, which in turn provides valuable insight and lessons for both the Australian and New Zealand armies.

    The delegation also met with Australian Defence Cooperation Program (ADCP) and New Zealand Mutual Assistance Programme (MAP) personnel, which have been long-standing commitments in the country.

    “Timor-Leste is an important security partner to both Australia and New Zealand. Our shared history and commitment to a peaceful, stable region is at the core of our growing fri

    MIL OSI New Zealand News –

  • MIL-OSI Global: Israel’s attacks on Iran are already hurting global oil prices, and the impact is set to worsen

    Source: The Conversation – Global Perspectives – By Joaquin Vespignani, Associate Professor of Economics and Finance, University of Tasmania

    The weekend attacks on Iran’s oil facilities – widely seen as part of escalating hostilities between Israel and Iran – represent a dangerous moment for global energy security.

    While the physical damage to Iran’s production facilities is still being assessed, the broader strategic implications are already rippling through global oil markets. There is widespread concern about supply security and the inflationary consequences for both advanced and emerging economies.

    The global impact

    Iran, which holds about 9% of the world’s proven oil reserves, currently exports between 1.5 and 2 million barrels per day, primarily to China, despite long-standing United States sanctions.

    While its oil output is not as globally integrated as that of Saudi Arabia or the United Arab Emirates, any disruption to Iranian production or export routes – especially the Strait of Hormuz, through which about 20% of the world’s oil supply flows – poses a systemic risk.

    Markets have already reacted. Brent crude prices rose more than US 6%, while West Texas Intermediate price increased by over US 5% immediately after the attacks.

    These price movements reflect not only short-term supply concerns but also the addition of a geopolitical risk premium due to fears of broader regional conflict.

    International oil prices may increase further as the conflict continues. Analysts expect that Australian petrol prices will increase in the next few weeks, as domestic fuel costs respond to international benchmarks with a lag.

    Escalation and strategic intentions

    There is growing concern this conflict could escalate further. In particular, Israel may intensify its targeting of Iranian oil facilities, as part of a broader strategy to weaken Iran’s economic capacity and deter further proxy activities.

    Should this occur, it would put even more upward pressure on global oil prices. Unlike isolated sabotage events, a sustained campaign against Iranian energy infrastructure would likely lead to tighter global supply conditions. This would be a near certainty if Iranian retaliatory actions disrupt shipping routes or neighbouring producers.

    Countries most affected

    Countries reliant on oil imports – especially in Asia – are the most exposed to such shocks in the short term.

    India, Pakistan, Indonesia and Bangladesh rely heavily on Middle Eastern oil and are particularly vulnerable to both supply interruptions and price increases. These economies typically have limited strategic petroleum reserves and face external balance pressures when oil prices rise.

    China, despite being Iran’s largest oil customer, has greater insulation due to its diversified suppliers and substantial reserves.

    However, sustained instability in the Persian Gulf would raise freight and insurance costs even for Chinese refiners, especially if the Strait of Hormuz becomes a contested zone. The strait, between the Persian Gulf and the Gulf of Oman, provides the only sea access from the Persian Gulf to the open ocean.

    Australia’s exposure

    Australia does not import oil directly from Iran. Most of its crude and refined products are sourced from countries including South Korea, Malaysia, the United Arab Emirates and Singapore.

    However, because Australian fuel prices are pegged to international benchmarks such as Brent and Singapore Mogas, domestic prices will rise in response to the global increase in oil prices, regardless of whether Australian refineries process Iranian oil.

    These price increases will have flow-on effects, raising transport and freight costs across the economy. Industries such as agriculture, logistics, aviation and construction will feel the pinch, and higher operating costs are likely to be passed on to consumers.

    Broader economic impacts

    The conflict could also disrupt global shipping routes, particularly if Iran retaliates through its proxies by targeting vessels in the Red Sea, Arabian Sea, or Hormuz Strait.

    Any such disruption could drive up shipping insurance, delay delivery times, and compound existing global supply chain vulnerabilities. More broadly, this supply shock could rekindle inflationary pressures in many countries.

    For Australia, it could delay monetary easing by the Reserve Bank of Australia and reduce consumer confidence if household fuel costs rise significantly. Globally, central banks may adopt a more cautious approach to rate cuts if oil-driven inflation proves persistent.

    The attacks on Iran’s oil fields, and the likelihood of further escalation, present a renewed threat to global energy stability. Even though Australia does not import Iranian oil, it remains exposed through price transmission, supply chain effects and inflationary pressures.

    A sustained campaign targeting Iran’s energy infrastructure by Israel could amplify these risks, leading to a broader energy shock that would affect oil-importing economies worldwide.

    Strategic reserve management and diplomatic engagement will be essential to contain the fallout.

    Joaquin Vespignani is affiliated with the Centre for Australian Macroeconomic Analysis, Australian National University.

    – ref. Israel’s attacks on Iran are already hurting global oil prices, and the impact is set to worsen – https://theconversation.com/israels-attacks-on-iran-are-already-hurting-global-oil-prices-and-the-impact-is-set-to-worsen-259013

    MIL OSI – Global Reports –

  • MIL-OSI Russia: Chinese, Russian museums strengthen cooperation to promote bilateral cultural exchanges

    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

    From June 12 to 15, the Moscow Seasons were held in Beijing. This comprehensive event became one of the key projects implemented within the framework of the cross-cultural Years of China and Russia, and also dedicated to the 30th anniversary of the establishment of sister-city relations between Beijing and Moscow.

    On June 13, as part of the business part of the festival program, a plenary session on the topic of “Cities of the Future. Synergy of the Strategic Partnership of Moscow and Beijing” was held at the Grand Hyatt Hotel in Beijing, dedicated to issues of tourism, culture, transport, innovation and industrial development.

    Speaking in a section dedicated to the work of museums, the head of the Russian Cultural Center in Beijing, Tatyana Urzhumtseva, emphasized that the RCC acts as a connecting platform between Russian and Chinese museums, art galleries, theaters, art groups and other participants in the Russian-Chinese cultural dialogue.

    According to her, the RCC also supports the exhibition activities of Russian museums not only by being present at the venues and participating in the opening ceremony of their exhibitions, but also by preparing and conducting a large information campaign that attracts Chinese visitors to the museum halls. The RCC also participates in recording video content on the social networks of Chinese partners.

    In addition, Tatyana Urzhumtseva added that in the anniversary year for China and Russia – the year of the 80th anniversary of the victory in the Great Patriotic War and the war against Japanese aggression – the RCC, together with the Beijing Society of Russian-Chinese Friendship, will hold an exhibition of paintings in August dedicated to the victory of the peoples of the two countries and Russian-Chinese friendship.

    Zhang Jing, Director of the Resources Section of the Beijing Culture and Tourism Administration, also spoke in this section. He introduced ten new tourist routes launched by the Administration this year, including those related to museums: the “This is Shang Yin” exhibition, Beijing Central Axis Tour, Dunhuang Famous Art Schools Tour, Ancient and Modern Olympic Park Tour, Three Hills and Five Gardens Park Complex Tour, 798 Art Zone Contemporary Art Exhibition Tour, Zhoukoudian Human Site Walking Tour, and others.

    Representatives of the Museum of Moscow, the Museum of Cosmonautics (Moscow), the State Historical Museum (Russia), the Capital Museum (Beijing), the Beijing Automobile Museum, the Museum of World Music Culture (Dalian) and others made presentations of their institutions.

    Following the meeting, cooperation agreements were signed between several museums, which actively contributed to the development of Chinese-Russian inter-museum exchanges and humanitarian bilateral cooperation in general.

    Text and photos: Tao Lijiao

    MIL OSI Russia News –

  • MIL-OSI Russia: China-Central Asia tourism ties gain momentum

    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

    The history of China’s interaction with Central Asian countries goes back thousands of years, and the friendship along the Silk Road, passed down from generation to generation, continues to this day. Since the first China-Central Asia Summit, tourism exchanges between the countries have become an important bridge for bringing peoples closer together. At present, there is mutual interest in tourism: China and Central Asian countries have become important tourist destinations for each other, and the number of mutual tourist visits has increased significantly. China and Central Asia are jointly promoting exchanges and cooperation, opening a new chapter in the dialogue of civilizations.

    A continuous flow of tourists in both directions

    On June 1, 2024, the visa-free regime between China and Uzbekistan came into effect. On the same day, more than 160 tourists from Tashkent arrived at Urumqi Airport. They became the first to enter China without a visa under the new agreement and began their journey around the country. On November 10, 2023, a similar agreement came into effect between China and Kazakhstan. These favorable policies have simplified mutual travel for citizens and effectively stimulated tourism exchanges.

    “The majestic landscapes of Xinjiang and the hospitality of the locals exceeded all expectations! The guide’s detailed explanations allowed me to better understand the culture and traditions of the region,” shared Natalia from Kazakhstan during her visit to Urumqi. Since the beginning of this year, a continuous stream of tourist groups from Central Asia have been heading to Xinjiang, and Urumqi’s attractiveness as a tourist destination continues to grow.

    According to the latest statistics from the Ctrip platform, the number of inbound tour bookings by users from Central Asian countries has grown by 106% year-on-year since the beginning of the year, with bookings from tourists from Uzbekistan increasing by 164%. The most popular destinations among Central Asian visitors were Guangzhou, Hangzhou, Beijing, Urumqi, Xi’an, Chengdu, Shanghai, Shenzhen, Yiwu and Qingdao. The number of bookings for tours to Central Asia by Chinese tourists showed a 74% increase, while demand for travel to Uzbekistan increased by 60%, with the main outbound cities for Chinese tourists being Urumqi, Beijing, Xi’an, Hangzhou, Chengdu, Shanghai and Guangzhou.

    U-tour data shows that the number of Chinese tourists visiting Central Asia doubled in the first half of the year compared to the same period last year. On the Fliggy platform, the number of bookings for flights to Kazakhstan and Uzbekistan increased by 60% and 47% respectively. Tashkent, Almaty, Shymkent and Bukhara were the most popular destinations.

    In early June, Beijing-based couple Li Tao and Xie Jinhua completed their unforgettable journey through Central Asia. “We have visited 40-50 countries and have always looked forward to seeing the mysterious Central Asia. During this trip, we experienced the warm-hearted kindness of the locals, saw majestic natural landscapes, and saw unique culture. Central Asia is truly a worthwhile travel destination,” they shared.

    A variety of new themed tours

    China and Central Asian countries have become important tourist destinations for each other. Tourists are no longer limited to just sightseeing – they are looking to delve deeper into the history, culture, traditions and daily life of local residents.

    Tourists from Central Asia visit the Xinjiang Uyghur Autonomous Region Museum, explore the Grand Bazaar in Urumqi, sample local cuisine, admire unique natural landscapes and immerse themselves in the region’s cultural heritage. Chinese tourists, in turn, discover ancient Central Asian cities on the Great Silk Road and taste local delicacies such as pilaf and horse meat dishes.

    Yang Shuguo, CEO of Xinjiang Xiyu International Travel Company, notes: “The deep interest of tourists from Central Asia in Chinese culture opens up new opportunities for the development of this destination. We plan to expand the range of tours to enhance the attractiveness of Urumqi in the market. Five new thematic routes have already been developed taking into account the preferences of guests, including health and business tourism.”

    Central Asia is a new popular destination for Chinese tourists. Han Jie, chairman of the board of tour operator AoYou, explains: “Kazakhstan attracts with its wealth of resources: Almaty and Astana are especially loved by Chinese guests. Uzbekistan with its unique historical and cultural heritage is also in high demand. For now, group tours for pensioners remain the main format, but as the infrastructure develops, new offers will attract young people as well.”

    Zhou Weihong, Deputy General Manager of SpringTour, announced: “This summer, we will launch two special tours: an extended tour of Kazakhstan and a combo tour of Kazakhstan and Uzbekistan. Travelers will try the famous Uzbek plov at the Besh Qozon Plov Center, see the light show at Registan Square in Samarkand, and appreciate the modern facilities of the local tourism center – this will be a real immersion into history, allowing them to rediscover the charm of the Silk Road.”

    New opportunities for expanding the tourism market

    Tourism between China and Central Asia has great potential. Xu Jia, CEO of Sichuan Youth Travel Service, said, “We started developing the Central Asia route in March 2023. It was just in May of that year that the China-Central Asia Summit was held, and the demand for the mysterious Central Asian countries increased sharply. Now, it is the fastest growing route in our agency. In order to attract more Chinese tourists to Central Asia and meet their diverse needs, we have developed several themed routes, including “Revisiting the Silk Road,” “Cultural Exchanges,” and “Natural Sightseeing Expeditions.”

    “We have been receiving more and more Chinese tourists in the last two years. They have high purchasing power and are interested in historical and cultural exchanges,” says Zhang Wei, the head of an Uzbek tourism service provider. “Central Asia’s tourism infrastructure is still underdeveloped. We plan to increase the number of Chinese-speaking guides for excursions, expand cooperation with Chinese restaurants, update our vehicle fleet, launch new themed tours, and look forward to an increase in the flow of guests from China.”

    The introduction of a visa-free regime has given a powerful impetus to humanitarian and tourist exchanges between China and Uzbekistan. This year, Uzbekistan held a series of presentations in Beijing, Changsha and other cities, during which it introduced Chinese tourists to local attractions in detail. The Uzbek side is implementing a set of measures to improve the quality of service to Chinese guests.

    China is one of the key sources of tourist flow for Kazakhstan. According to the Ministry of Tourism and Sports of the Republic of Kazakhstan, 655 thousand Chinese tourists visited the country in 2024, which is 78% more than in 2023. 2025 has been declared the “Year of China Tourism” in Kazakhstan. The plans include a series of promotional events in China: road shows have already been held in Guangzhou and other cities, and cooperation with Chinese tour operators has been established. Digital solutions are being introduced to increase the attractiveness of Kazakhstan: in early June, Almaty hosted the international tourism forum “Digital Silk Road – 2025”, organized by the Chinese digital platform Zowoyoo and the Tourism Industry Committee of Kazakhstan. The project is aimed at deepening the understanding of the Chinese market by Kazakhstani travel companies through digitalization, increasing the level of market development and taking bilateral cooperation to a new level.

    MIL OSI Russia News –

  • MIL-OSI Russia: China and Central Asia are actively developing cooperation in the tourism industry

    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

    The first China-Central Asia international tourist train from Xi’an to Almaty was launched recently, marking new progress in tourism exchanges and cooperation between China and Central Asia.

    At present, the global tourism industry is still affected by uncertainties such as protectionism and geopolitical conflicts, but tourism interactions between China and Central Asia are accelerating in “both directions”. A visa-free regime has been introduced between China and Kazakhstan and Uzbekistan. The number of direct flights between China and Central Asian countries is increasing, with direct flights opened from Beijing, Xi’an, Chengdu, Urumqi and other cities. Xi’an has become the city with the largest number of routes between China and Central Asia, with flights to seven cities in five countries in the region opened from the ancient Chinese capital. China and the Central Asian countries are getting closer to each other, which not only demonstrates a common understanding of development opportunities, but also serves as a living remark to the people-to-people connection under the Belt and Road Initiative.

    Through systematic policy coordination, comprehensive connectivity and large-scale industrial integration, China and Central Asia have established a new pattern of tourism exchanges and cooperation. The first China-Central Asia Summit was held in 2023. “The opening of the Central Asia Cultural Tourism Development Train” is an important achievement of the summit. In terms of connectivity, in addition to the growth of direct flights, the railway and road connections between China and Central Asia have become increasingly close. The China-Kyrgyzstan-Uzbekistan Railway Project has been officially launched, and the number of routes on the China-Europe Express Railway has also increased, opening up new opportunities for the development of more tourism destinations and products.

    Looking to the future, tourism exchanges and cooperation between China and Central Asia should continue to develop in three directions:

    First, it is necessary to highlight the exemplary significance and create a series of landmark projects. It is necessary to closely link and integrate tourism cooperation with the development strategies and relevant policies of Central Asian countries, so as to form a new multi-level cooperation structure with different dimensions and distinctive features. By combining the advantages and characteristics of different countries and regions, taking into account the development needs of different places and friendly cities, jointly creating a series of landmark projects with obvious exemplary and stimulating effects, exploring and forming a group of model cooperation indicators with deep complementarity, high mutual benefit and distinctive characteristics, China-Central Asia tourism cooperation will become a “best practice” for linking the Belt and Road Initiative with the development strategies of various regional countries.

    Second, we should stimulate “internal driving forces”. We should strengthen transportation links, promote the simplification of tourism procedures including visa regime and direct flights, improve the security systems of cross-border tourism, dispute mediation, insurance claims, etc. We should promote more mutual understandings, including tourism service standards. In addition, we should explore ways to promote tourism cooperation through the construction of cross-border tourism cooperation zones and cross-border tourism pilot zones. We should guide market players to jointly build tourism infrastructure, and explore policies such as cross-border investment insurance. We should integrate the cultural heritage of the Silk Road, natural landscapes, railways and cross-border self-drive routes, develop China-Central Asia tourist routes, and promote the launch of more cross-border tourist trains with cultural and regional characteristics. We should create more active tourism products, services and business models through forms such as “tourism”.

    Third, we need to enhance the visibility of cooperation results. We need to transform policies related to tourism exchanges and cooperation between China and Central Asia into opportunities that are accessible to the people. We need to build the brand image of the Cultural Silk Road plan, enhance public participation in the selection of the cultural and tourism capital of China and Central Asia, and improve people’s sense of satisfaction. We need to formulate a Central Asian blueprint for the Asian Tourism Promotion Plan as soon as possible, and promote tourism exchanges and cooperation between Xinjiang, Shaanxi, and places in Central Asian countries. We need to pay special attention to the joint promotion of Silk Road Heritage routes and tourism products. We need to promote the close integration of tourism cooperation with poverty alleviation, environmental protection and other livelihood issues, realize the transparency of results through digital platforms and information release, and promote the deepening of exchanges and cooperation.

    The author is a research fellow at the China Academy of Tourism.

    MIL OSI Russia News –

  • MIL-OSI Russia: The First China-Central Asia Tourist Train Is the ‘Silk Road Express’ That Writes a New Chapter in Relations

    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

    On May 29, the first international tourist train “China – Central Asia” with more than 200 passengers departed from the platform of the Xi’an railway station and headed west – to the Kazakh city of Almaty. Thus, a new channel of humanitarian exchanges linking China and Central Asia was opened.

    Traveling in “cultural salons on wheels”

    The train route includes a section in China and a section in Central Asia. For the convenience of passengers, the railway services of China and Kazakhstan have introduced a single procedure for border control. The full circular route takes 10 days.

    “It’s very exciting! It’s my first time traveling abroad by train!” said Yu Min from Xi’an, heading to Kazakhstan.

    The body of the tourist train is decorated with the theme of the “Golden Bridge of the Silk Road”, and the interior harmoniously interweaves elements of Xi’an architecture: the Big Wild Goose Pagoda, ancient city walls, the Bell Tower, as well as iconic landmarks of Kazakhstan. This creates a unique atmosphere of the charm of the Great Silk Road.

    During the train ride, various events were held daily according to the schedule: presentations and master classes on traditional Chinese medicine, lectures on cultural heritage, exhibitions and interactive activities with elements of intangible cultural heritage, as well as live performances by calligraphers and artists, and theatrical performances. The active interaction of passengers of different nationalities became the most vivid embodiment of the dialogue of civilizations.

    “The launch of the China-Central Asia International Tourist Train from Xi’an to Almaty is a clear example of how the railway promotes people-to-people exchanges under the Belt and Road Initiative,” said Hui Lixia, deputy director of the Xi’an Office of China State Railway Corporation. “We have created a cozy, comfortable and culturally rich environment for passengers. Our goal is to make this special train a showcase of Shaanxi Province’s openness and a ‘Silk Road Express’ that brings together the peoples of China and Central Asian countries.”

    Local residents are happy to participate in interactive activities

    On May 31, the tourist train arrived in Almaty. In Kazakhstan, the tourists were given a ceremonial welcome: hospitable locals in national costumes greeted the guests who arrived from China with songs and dances. A series of bright events immediately began.

    There were the expressive masks of the Qinqiang opera, the interior painting of “neihua”, the fine art of Xi’an paper cutting, the festive New Year popular prints of “nianhua”, and the iridescent colors of the Tang dyeing technique of “liucai”.

    The cultural fair featured 10 intangible cultural heritage items that delighted Almaty residents. They watched the craftsmanship with interest and participated in master classes themselves, learning about Chinese culture.

    The cultural exchange and archaeology program included three events: a photo exhibition, “The Breath of the Silk Road,” a visit to archaeological excavations, and thematic lectures that comprehensively revealed the cultural synthesis of eras and told the story of the dialogue of civilizations.

    Paving New Paths for Mutual Connections

    On June 7, the tourist train returned to Xi’an station, completing a 3,600-kilometer journey along the Silk Road, where steel rails became a bridge for cultural convergence.

    “Today’s food is absolutely delicious! My friends and I really enjoyed it,” Meruert from Kazakhstan said happily after trying Xi’an lamb soup with pieces of bread.

    2025 has been declared the “Year of China Tourism” in Kazakhstan, and the launch of the first international tourist train “China-Central Asia” from Xi’an to Almaty has not only opened a new channel for deepening mutual ties and people-to-people exchanges, but also pressed the “accelerate button” in China-Kazakhstan cooperation. This project will stimulate the development of tourism along the route, consumption growth and regional economic partnership, accelerate the integration of China and Central Asia in transportation, culture and other fields, and contribute to the creation of a closer community with a shared future.

    (Editor: Deng Jie, Yang Qian)

    Copyright belongs to People’s Daily Online. All rights reserved.

    MIL OSI Russia News –

  • India positioned to become world’s third-largest economy, says PM Modi in Cyprus

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi and the President of Cyprus, Nikos Christodoulides, held a high-level roundtable interaction with business leaders from both India and Cyprus in Limassol on Sunday. The engagement brought together stakeholders from a wide range of sectors including banking, financial institutions, manufacturing, defence, logistics, maritime, shipping, technology, digital innovation, artificial intelligence, IT services, tourism and mobility.

    During the interaction, Prime Minister Modi highlighted India’s robust economic transformation over the last eleven years, noting the country’s consistent growth driven by major reforms, policy stability, and improvements in the Ease of Doing Business.

    “India’s focus on innovation, digital revolution, start-up culture and future-ready infrastructure is positioning it firmly on the path to becoming the world’s third-largest economy,” the Prime Minister said. He noted that sectors such as civil aviation, port and shipbuilding, digital payments, and green development offer promising avenues for cooperation with Cyprus-based enterprises.

    The Prime Minister further pointed to the expansion of sectors such as civil aviation, shipbuilding, digital payments, and green development as avenues of cooperation for Cypriot businesses. He also underlined India’s growing capabilities in new-age industries like AI, Quantum technology, Semiconductors, and Critical Minerals.

    Describing Cyprus as an “important economic partner,” Prime Minister Modi welcomed the island nation’s interest in increasing investments into India, particularly in the Foreign Direct Investment (FDI) domain.

    The interaction also witnessed the announcement of several collaborative initiatives. A Memorandum of Understanding (MoU) was signed between the NSE International Exchange at GIFT City, Gujarat, and the Cyprus Stock Exchange to deepen cooperation in financial markets. In a key development for digital payments, NIPL (NPCI International Payments Limited) and Eurobank Cyprus reached an understanding to introduce Unified Payments Interface (UPI) for cross-border transactions. The move is expected to benefit both tourists and businesses by simplifying payments.

    Prime Minister Modi also welcomed the launch of the India–Greece–Cyprus (IGC) Business and Investment Council. The council is expected to strengthen trilateral cooperation in key sectors such as shipping, logistics, renewable energy, civil aviation and digital services.

    “Indian companies increasingly view Cyprus as a gateway to Europe and a hub for IT services, financial management, and tourism,” said the Prime Minister.

    As Cyprus prepares to assume the Presidency of the European Union Council next year, both leaders reaffirmed their commitment to strengthening the India-EU Strategic Partnership. They expressed optimism about concluding the long-pending India-EU Free Trade Agreement by the end of the year, which would provide a fresh impetus to trade and investment.

    Reflecting on the outcomes of the roundtable, Prime Minister Modi said, “The practical suggestions emerging from today’s discussion will help chart a structured roadmap for deepening cooperation in trade, innovation, and strategic sectors.”

  • India positioned to become world’s third-largest economy, says PM Modi in Cyprus

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi and the President of Cyprus, Nikos Christodoulides, held a high-level roundtable interaction with business leaders from both India and Cyprus in Limassol on Sunday. The engagement brought together stakeholders from a wide range of sectors including banking, financial institutions, manufacturing, defence, logistics, maritime, shipping, technology, digital innovation, artificial intelligence, IT services, tourism and mobility.

    During the interaction, Prime Minister Modi highlighted India’s robust economic transformation over the last eleven years, noting the country’s consistent growth driven by major reforms, policy stability, and improvements in the Ease of Doing Business.

    “India’s focus on innovation, digital revolution, start-up culture and future-ready infrastructure is positioning it firmly on the path to becoming the world’s third-largest economy,” the Prime Minister said. He noted that sectors such as civil aviation, port and shipbuilding, digital payments, and green development offer promising avenues for cooperation with Cyprus-based enterprises.

    The Prime Minister further pointed to the expansion of sectors such as civil aviation, shipbuilding, digital payments, and green development as avenues of cooperation for Cypriot businesses. He also underlined India’s growing capabilities in new-age industries like AI, Quantum technology, Semiconductors, and Critical Minerals.

    Describing Cyprus as an “important economic partner,” Prime Minister Modi welcomed the island nation’s interest in increasing investments into India, particularly in the Foreign Direct Investment (FDI) domain.

    The interaction also witnessed the announcement of several collaborative initiatives. A Memorandum of Understanding (MoU) was signed between the NSE International Exchange at GIFT City, Gujarat, and the Cyprus Stock Exchange to deepen cooperation in financial markets. In a key development for digital payments, NIPL (NPCI International Payments Limited) and Eurobank Cyprus reached an understanding to introduce Unified Payments Interface (UPI) for cross-border transactions. The move is expected to benefit both tourists and businesses by simplifying payments.

    Prime Minister Modi also welcomed the launch of the India–Greece–Cyprus (IGC) Business and Investment Council. The council is expected to strengthen trilateral cooperation in key sectors such as shipping, logistics, renewable energy, civil aviation and digital services.

    “Indian companies increasingly view Cyprus as a gateway to Europe and a hub for IT services, financial management, and tourism,” said the Prime Minister.

    As Cyprus prepares to assume the Presidency of the European Union Council next year, both leaders reaffirmed their commitment to strengthening the India-EU Strategic Partnership. They expressed optimism about concluding the long-pending India-EU Free Trade Agreement by the end of the year, which would provide a fresh impetus to trade and investment.

    Reflecting on the outcomes of the roundtable, Prime Minister Modi said, “The practical suggestions emerging from today’s discussion will help chart a structured roadmap for deepening cooperation in trade, innovation, and strategic sectors.”

  • Iran and Israel Exchange Fresh Strikes as Global Leaders Push for Ceasefire

    Source: Government of India

    Source: Government of India (4)

    The war between Iran and Israel is in its fourth day of direct hostilities as international diplomatic activity is in full swing to prevent the conflict from engulfing broader West Asia. While ongoing military operations have killed dozens of people and caused widespread destruction, a complex matrix of behind-the-scenes negotiations is underway among world powers and regional actors desperately trying to contain the crisis.

    Iran launched missile strikes on Israeli cities , with rockets striking Haifa and injuring at least 15 in Israel’s National Emergency Service. The attacks were launched as residents in Tehran reported shaking explosions throughout the capital city, with Iranian officials confirming missile strikes in the Niavaran and Tajrish neighborhoods in the northern part of the city, as well as in and around central Valiasr and Hafte Tir squares.

    Israeli forces have expanded their campaign beyond Tehran to cities including Shiraz and Isfahan, where a Defense Ministry military base was hit. The Israeli military announced it had conducted its longest-range strike since the fighting began, striking an aerial refueling aircraft at Mashhad Airport in eastern Iran. Well over 250 Iranian targets have been hit in the expanding military campaign, including what Israel identifies as nuclear command and control centers and key energy targets. The situation is still complex and fraught with difficulties. Now, Iranian officials refer to negotiations with USA as unjustifiable amid current Israeli aggression, and Iran has stopped attending nuclear negotiations that were supposed to be carried out in Oman.

    Iran’s Foreign Minister Abbas Aragchi has indicated readiness for nuclear agreements that ensure Iran does not pursue weapons development, but insists the country will not accept any deal that deprives it of nuclear rights.

    Behind closed doors, Iran has approached Qatar and Oman requesting them to act as intermediaries with the United States to facilitate ceasefire negotiations, while Saudi Arabia is reportedly involved in diplomatic efforts to de-escalate the situation. US President Donald Trump has expressed optimism about peace prospects, stating he anticipates a deal soon through ongoing calls and meetings to broker an agreement. International diplomatic efforts have accelerated as global leaders warn of the urgent need to prevent the conflict from spilling over to the rest of the Middle East, with multiple regional powers working frantically to halt what they describe as a spiral of violence causing irreparable economic and civil damage to both sides.

    The United Nations Security Council convened an emergency session where both nations presented diametrically opposing positions. Iran labeled Israel’s strike a declaration of war, while Israel justified its attack as legitimate self-defense after failed diplomacy. The session failed to produce a binding resolution, which was indicative of the failure of the international community to agree on anything.

    European leaders have called for diplomatic solutions but appear to have limited influence in the conflict, with analysts saying Europe is on the sidelines. Cyprus has played a minor role, with its president reportedly having carried messages between Israel and Iran through indirect intermediaries.

    Israel remains extremely skeptical of Iranian intentions and has continued its military push despite diplomatic progress. Israeli leaders have warned Iran to vacate nuclear facilities while calling for the United States to assist efforts at abandoning Iran’s nuclear program entirely. The Israeli government has shown little desire to stop activities without concrete Iranian concessions.

    Stakes have also increased as Iran threatened that Western assistance to Israel in downing missiles can result in targeting US, UK, and French military assets throughout the region. The threat has complicated diplomacy as Washington has already provided defensive assistance to Israel while publicly urging restraint.

    In spite of active diplomatic contacts with various regional mediators and ongoing US engagement, prospects for an immediate ceasefire are uncertain.

  • Iran and Israel Exchange Fresh Strikes as Global Leaders Push for Ceasefire

    Source: Government of India

    Source: Government of India (4)

    The war between Iran and Israel is in its fourth day of direct hostilities as international diplomatic activity is in full swing to prevent the conflict from engulfing broader West Asia. While ongoing military operations have killed dozens of people and caused widespread destruction, a complex matrix of behind-the-scenes negotiations is underway among world powers and regional actors desperately trying to contain the crisis.

    Iran launched missile strikes on Israeli cities , with rockets striking Haifa and injuring at least 15 in Israel’s National Emergency Service. The attacks were launched as residents in Tehran reported shaking explosions throughout the capital city, with Iranian officials confirming missile strikes in the Niavaran and Tajrish neighborhoods in the northern part of the city, as well as in and around central Valiasr and Hafte Tir squares.

    Israeli forces have expanded their campaign beyond Tehran to cities including Shiraz and Isfahan, where a Defense Ministry military base was hit. The Israeli military announced it had conducted its longest-range strike since the fighting began, striking an aerial refueling aircraft at Mashhad Airport in eastern Iran. Well over 250 Iranian targets have been hit in the expanding military campaign, including what Israel identifies as nuclear command and control centers and key energy targets. The situation is still complex and fraught with difficulties. Now, Iranian officials refer to negotiations with USA as unjustifiable amid current Israeli aggression, and Iran has stopped attending nuclear negotiations that were supposed to be carried out in Oman.

    Iran’s Foreign Minister Abbas Aragchi has indicated readiness for nuclear agreements that ensure Iran does not pursue weapons development, but insists the country will not accept any deal that deprives it of nuclear rights.

    Behind closed doors, Iran has approached Qatar and Oman requesting them to act as intermediaries with the United States to facilitate ceasefire negotiations, while Saudi Arabia is reportedly involved in diplomatic efforts to de-escalate the situation. US President Donald Trump has expressed optimism about peace prospects, stating he anticipates a deal soon through ongoing calls and meetings to broker an agreement. International diplomatic efforts have accelerated as global leaders warn of the urgent need to prevent the conflict from spilling over to the rest of the Middle East, with multiple regional powers working frantically to halt what they describe as a spiral of violence causing irreparable economic and civil damage to both sides.

    The United Nations Security Council convened an emergency session where both nations presented diametrically opposing positions. Iran labeled Israel’s strike a declaration of war, while Israel justified its attack as legitimate self-defense after failed diplomacy. The session failed to produce a binding resolution, which was indicative of the failure of the international community to agree on anything.

    European leaders have called for diplomatic solutions but appear to have limited influence in the conflict, with analysts saying Europe is on the sidelines. Cyprus has played a minor role, with its president reportedly having carried messages between Israel and Iran through indirect intermediaries.

    Israel remains extremely skeptical of Iranian intentions and has continued its military push despite diplomatic progress. Israeli leaders have warned Iran to vacate nuclear facilities while calling for the United States to assist efforts at abandoning Iran’s nuclear program entirely. The Israeli government has shown little desire to stop activities without concrete Iranian concessions.

    Stakes have also increased as Iran threatened that Western assistance to Israel in downing missiles can result in targeting US, UK, and French military assets throughout the region. The threat has complicated diplomacy as Washington has already provided defensive assistance to Israel while publicly urging restraint.

    In spite of active diplomatic contacts with various regional mediators and ongoing US engagement, prospects for an immediate ceasefire are uncertain.

  • Israel-Iran battle escalates, set to dominate G7 talks

    Source: Government of India

    Source: Government of India (4)

    Israel and Iran kept up their attacks, killing and wounding civilians and raising concern among world leaders at a G7 meeting in Canada this week that the biggest battle between the two old enemies could lead to a broader regional conflict.

    The Iranian death toll in four days of Israeli strikes, carried out with the declared aim of wiping out Iran’s nuclear and ballistic missile programs, had reached at least 224, with 90% of the casualties reported to be civilians, an Iranian health ministry spokesperson said.

    Early on Monday, the Israeli military said it had detected more missiles launched from Iran towards Israel.

    “At this time, the (Israeli Air Force) is operating to intercept and strike where necessary to eliminate the threat,” the Israeli Defence Forces said. Live video footage showed several missiles over Tel Aviv and Reuters witnesses said explosions could be heard there and over Jerusalem.

    At least 10 people in Israel, including children, have been killed so far, according to authorities there.

    Group of Seven leaders began gathering in the Canadian Rockies on Sunday with the Israel-Iran conflict expected to be a top priority.

    German Chancellor Friedrich Merz said his goals for the summit include for Iran to not develop or possess nuclear weapons, ensuring Israel’s right to defend itself, avoiding escalation of the conflict and creating room for diplomacy.

    “This issue will be very high on the agenda of the G7 summit,” Merz told reporters.

    Before leaving for the summit on Sunday, U.S. President Donald Trump was asked what he was doing to de-escalate the situation. “I hope there’s going to be a deal. I think it’s time for a deal,” he told reporters. “Sometimes they have to fight it out.”

    Iran has told mediators Qatar and Oman that it is not open to negotiating a ceasefire while it is under Israeli attack, an official briefed on the communications told Reuters on Sunday.

    FIRST DAYLIGHT ATTACK ON ISRAEL

    Explosions shook Tel Aviv on Sunday during Iran’s first daylight missile attack since Israel’s strike on Friday. Shortly after nightfall, Iranian missiles hit a residential street in Haifa, a mixed Jewish-Arab city, and in Israel’s south.

    In Bat Yam, a city near Tel Aviv, residents braced on Sunday evening for another sleepless night after an overnight strike on an apartment tower.

    “It’s very dreadful. It’s not fun. People are losing their lives and their homes,” said Shem, 29.

    Images from Tehran showed the night sky lit up by a huge blaze at a fuel depot after Israel began strikes against Iran’s oil and gas sector – raising the stakes for the global economy and the functioning of the Iranian state.

    Brent crude futures were up $1.04, or 1.4%, to $75.39 a barrel by 0115 GMT, having jumped as much as $4 earlier in the session. While the spike in oil prices has investors on edge, stock and currency markets were little moved in early trading in Asia on Monday.

    “It’s more of an oil story than an equity story at this point,” said Jim Carroll, senior wealth adviser and portfolio manager at Ballast Rock Private Wealth. “Stocks right now seem to be hanging on.”

    TRUMP VETOES PLAN TO TARGET KHAMENEI, OFFICIALS SAY

    In Washington, two U.S. officials told Reuters that Trump had vetoed an Israeli plan in recent days to kill Iran’s Supreme Leader Ayatollah Ali Khamenei.

    When asked about the Reuters report, Netanyahu told Fox News on Sunday: “There’s so many false reports of conversations that never happened, and I’m not going to get into that.”

    “We do what we need to do,” he told Fox’s “Special Report With Bret Baier.”

    Israel began the assault with a surprise attack on Friday that wiped out the top echelon of Iran’s military command and damaged its nuclear sites, and says the campaign will escalate in the coming days.

    The intelligence chief of Iran’s Revolutionary Guards, Mohammad Kazemi, and his deputy were killed in attacks on Tehran on Sunday, Iran’s semi-official Tasnim news agency said.

    Iran has vowed to “open the gates of hell” in retaliation.

    TRUMP WARNS IRAN NOT TO ATTACK

    Trump has lauded Israel’s offensive while denying Iranian allegations that the U.S. has taken part and warning Tehran not to widen its retaliation to include U.S. targets.

    Two U.S. officials said on Friday the U.S. military had helped shoot down Iranian missiles that were headed toward Israel.

    The U.S. president has repeatedly said Iran could end the war by agreeing to tough restrictions on its nuclear program, which Iran says is for peaceful purposes but which Western countries and the IAEA nuclear watchdog say could be used to make an atomic bomb.

    The latest round of nuclear negotiations between Iran and the U.S., due on Sunday, was scrapped after Tehran said it would not negotiate while under Israeli attack.

    (Reuters)

  • PM Modi’s Visit to Strengthen India-EU Ties, says EAM Jaishankar on meeting Cyprus counterpart

    Source: Government of India

    Source: Government of India (4)

    External Affairs Minister (EAM) S. Jaishankar met the Cyprus Foreign Minister Constantinos Kombos on Sunday (local time) on his arrival at the Larnaca International Airport in Limassol and said that he was confident that that “Prime Minister Narendra Modi’s visit to the Mediterranean nation will deepen our longstanding bilateral ties and the partnership between India and the European Union.

    Taking to his official X account, EAM Jaishankar said: “Delighted to meet FM @ckombos of Cyprus on my arrival at Larnaca. Confident that PM @narendramodi’s visit to Cyprus will deepen our longstanding bilateral ties and the India-EU partnership.”

    Earlier on Sunday, Prime Minister Narendra Modi reached Cyprus, heralding the start of his three-nation tour, including Canada and Croatia. The pictures of his arrival in Cyprus were shared by Prime Minister Narendra Modi on his X account.

    PM Modi was received and given a warm welcome at the airport by the Cyprus President Nikos Christodoulides as well as Finance Minister Constantinos Kombos, reflecting the deep-rooted historic ties between the two nations.

    The Cyprus President also took to X to welcome PM Modi, as he wrote: “Welcome to Cyprus Prime Minister Narendra Modi! Here, at the EU’s southeastern frontier and gateway of the Mediteranean A historic visit A new chapter in a strategic partnership that knows no limits We make a promise to advance, transform, prosper more. Together.”

    PM Modi also note of the special gesture of Cyprus President and reciprocated on his social media handle, “Landed in Cyprus. My gratitude to the President of Cyprus, Mr. Nikos Christodoulides for the special gesture of welcoming me at the airport. This visit will add significant momentum to India-Cyprus relations, especially in areas like trade, investment and more.”

    Notably, this is the first visit by an Indian Prime Minister to Cyprus in over two decades. During the visit, the two leaders are set to take part in extensive discussions for deepening bilateral ties and also explore ways to strengthen cooperation in trade, investment, security, and technology.

    Prior to his departure for three-nation tour, PM Modi described Cyprus as “a close friend and an important partner in the Mediterranean region and the EU”.

    He added that the visit was an opportunity to build on the historical friendship between the two nations and promote people-to-people exchanges.

    Cyprus, a member of the European Union is set to assume the ‘rotating presidency’ of the EU, early next year. PM Modi’s visit is seen as part of India’s consistent diplomatic outreach to Europe.

    After Cyprus visit, PM Modi will head to Canada to attend the G7 Summit and will then travel to Croatia for meetings with President Zoran Milanovic and Prime Minister Andrej Plenkovic. (IANS)

  • PM Modi’s Visit to Strengthen India-EU Ties, says EAM Jaishankar on meeting Cyprus counterpart

    Source: Government of India

    Source: Government of India (4)

    External Affairs Minister (EAM) S. Jaishankar met the Cyprus Foreign Minister Constantinos Kombos on Sunday (local time) on his arrival at the Larnaca International Airport in Limassol and said that he was confident that that “Prime Minister Narendra Modi’s visit to the Mediterranean nation will deepen our longstanding bilateral ties and the partnership between India and the European Union.

    Taking to his official X account, EAM Jaishankar said: “Delighted to meet FM @ckombos of Cyprus on my arrival at Larnaca. Confident that PM @narendramodi’s visit to Cyprus will deepen our longstanding bilateral ties and the India-EU partnership.”

    Earlier on Sunday, Prime Minister Narendra Modi reached Cyprus, heralding the start of his three-nation tour, including Canada and Croatia. The pictures of his arrival in Cyprus were shared by Prime Minister Narendra Modi on his X account.

    PM Modi was received and given a warm welcome at the airport by the Cyprus President Nikos Christodoulides as well as Finance Minister Constantinos Kombos, reflecting the deep-rooted historic ties between the two nations.

    The Cyprus President also took to X to welcome PM Modi, as he wrote: “Welcome to Cyprus Prime Minister Narendra Modi! Here, at the EU’s southeastern frontier and gateway of the Mediteranean A historic visit A new chapter in a strategic partnership that knows no limits We make a promise to advance, transform, prosper more. Together.”

    PM Modi also note of the special gesture of Cyprus President and reciprocated on his social media handle, “Landed in Cyprus. My gratitude to the President of Cyprus, Mr. Nikos Christodoulides for the special gesture of welcoming me at the airport. This visit will add significant momentum to India-Cyprus relations, especially in areas like trade, investment and more.”

    Notably, this is the first visit by an Indian Prime Minister to Cyprus in over two decades. During the visit, the two leaders are set to take part in extensive discussions for deepening bilateral ties and also explore ways to strengthen cooperation in trade, investment, security, and technology.

    Prior to his departure for three-nation tour, PM Modi described Cyprus as “a close friend and an important partner in the Mediterranean region and the EU”.

    He added that the visit was an opportunity to build on the historical friendship between the two nations and promote people-to-people exchanges.

    Cyprus, a member of the European Union is set to assume the ‘rotating presidency’ of the EU, early next year. PM Modi’s visit is seen as part of India’s consistent diplomatic outreach to Europe.

    After Cyprus visit, PM Modi will head to Canada to attend the G7 Summit and will then travel to Croatia for meetings with President Zoran Milanovic and Prime Minister Andrej Plenkovic. (IANS)

  • MIL-OSI New Zealand: Erosion of Safety Protections – Government turns its back on workers’ safety – CTU

    Source: New Zealand Council of Trade Unions Te Kauae Kaimahi

    The New Zealand Council of Trade Unions Te Kauae Kaimahi is dismayed by the Government’s decision to abstain from the new International Labour Organization (ILO) Convention on biological hazards that would strengthen worker protections.

    “This Convention provides a comprehensive framework for preventing and managing biological workplace health and safety issues,” said NZCTU President Richard Wagstaff.

    “Representatives of Government, employers’ and workers’ organizations at the 113th International Labour Conference have resoundingly voted for the adoption this new Convention and accompanying Recommendation on protection against biological hazards in the working environment.

    “There is strong international support for this Convention which has been ratified by more than 95% of representatives from the 187 ILO member states. The New Zealand workers’ delegation voted in favour of this convention which embeds the importance of healthy and safe work as a fundamental aspect of good work for everyone.

    “Unfortunately, the New Zealand Government has joined Bangladesh, Djibouti, Panama, Algeria, Guatemala, and India as the only Governments to vote against or abstain in the vote for the Convention. New Zealand Business representatives did not vote at all.

    “The failure of the Government to support this convention reflects its total disregard and disinterest in workers’ safety and health and shows how isolated New Zealand has become from global efforts to improve safeguards at work,” said Wagstaff.

    James Ritchie, the Spokesperson for the biological hazards Convention stated:

    “This is the first international instrument that specifically addresses biological hazards in the working environment at the global level. It follows the Covid pandemic, and the 2022 decision to include a safe and healthy working environment in the ILO’s framework of fundamental principles and rights at work.

    “The New Zealand Government rejection of this historic convention is not a theoretical exercise, implementing its provisions would save lives now and during future outbreaks of infectious diseases,” said Ritchie.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Mattress supplier Emma Sleep admits misleading statements about sale prices

    Source: Australian Ministers for Regional Development

    Emma Sleep Pty Ltd has admitted it made false or misleading representations about the sale prices of mattresses, bed frames, pillows, and accessories. The Federal Court today found that its related entity Bettzeit Southeast Asia Inc. also engaged in the admitted conduct.

    Emma Sleep Pty Ltd admitted that between at least 15 June 2020 and 27 March 2023 it advertised 74 products online, showing a purchase price alongside a higher price with a ‘strikethrough’, and also displaying a percentage discount (such as ‘50% OFF’), or indicating the sale price would represent a certain saving to the consumer (such as ‘Save as much as $3,531’).

    Of the 74 products, 58 products had not previously been for sale at the strikethrough price or a price equivalent to the price without the claimed discount.

    The remaining 16 products had almost never been for sale at the strikethrough price or a price equivalent to the price without the claimed discount.

    “Sales and claimed savings can be enticing to consumers so it is important these claims are accurate,” ACCC Deputy Chair Catriona Lowe said.

    Emma Sleep Pty Ltd also admitted that it had made misleading representations that products would only be available at sale prices for a limited period of time, when in fact that was not the case.

    “Sales campaigns on the Emma Sleep website and other platforms indicated that discounts would only be available for limited periods of time through the use of countdown timers. The timers created a false sense of urgency by suggesting the sale price would no longer be available after the timer reached zero. In fact, after reaching zero the countdown timers reset, or the products continued to be advertised for sale at the same or similar discount.”

    “These type of false advertising practices not only mislead customers but also mean companies get an unfair advantage over other suppliers,” Ms Lowe said.

    The ACCC had also taken action against Emma Sleep Pty Ltd’s German parent, Emma Sleep GmbH. The Court dismissed the ACCC’s allegations that Emma Sleep GmbH engaged in the alleged conduct, or that Emma Sleep Pty Ltd had acted at the direction of, or as an agent for, Emma Sleep GmbH.

    The ACCC is seeking declarations, penalties, injunctions, and other orders.

    The Court will determine the penalty and other orders after a hearing on a date to be fixed.

    The ACCC will continue to scrutinise promotional conduct by retailers. One of the ACCC’s Compliance and Enforcement Priorities for 2025-26 is ‘consumer and fair trading concerns in the supermarket and retail sectors, with a focus on misleading pricing practices.’

    Background

    Emma Sleep GmbH is a German bedroom furniture supplier based in Frankfurt that commenced trading in 2013. Emma Sleep GmbH operates in over 30 countries.

    Bettzeit Southeast Asia Inc is a subsidiary of Emma Sleep GmbH which operates in the Philippines.

    Emma Sleep Pty Ltd is a subsidiary of Emma Sleep GmbH which operates in Australia and has done so since 2020.

    The ACCC instituted proceedings against Emma Sleep GmbH, Bettzeit and Emma Sleep Pty Ltd on 14 December 2023.

    Emma Sleep advertises its products on its website, its Facebook and Instagram pages, its comparison website https://www.top5bestmattress.com.au, TV, radio, print media, email, SMS and through third-party retailer websites such as Woolworths Marketplace and Bunnings Marketplace.
     

    Image of Emma Sleep website showing countdown timer and alleged discount pricing

    Example of Emma Sleep social media advertising

    MIL OSI News –

  • MIL-OSI Submissions: Asia Pacific – New UN report notes major gains in civil registration in Asia and the Pacific, but millions still left behind

    Source: United Nations – ESCAP

    The number of unregistered children under five has dropped by 62 per cent in Asia and the Pacific, from 135 million in 2012 to 51 million in 2024. This means 84 million more children today have a recognized name, a legal identity and a stronger foundation for the future, according to the newly released Progress Made on Civil Registration and Vital Statistics in Asia and the Pacific After a Decade of Getting Every One in the Picture.

    However more work remains as despite this progress, 14 million babies each year still go unregistered by their first birthday. Without birth registration, a child may be denied their right to education and healthcare services based on the lack of official documentation.

    This latest progress report tracks achievements across the region during the Asia-Pacific CRVS Decade (2015-2024) and sets the foundation for renewed commitments in the years ahead.

    Other Key Findings:

    The number of countries using civil registration data to produce vital statistics has risen by nearly 60 per cent.
    An estimated 6.9 million deaths go unregistered annually across Asia and the Pacific.
    A quarter of countries and territories do not medically certify deaths, leaving major gaps in mortality data and evidence for public health planning

    Legal identity is the foundation for accessing essential rights and services, from healthcare and education to social protection and legal services. Civil registration data is also vital for evidence-based policymaking, disaster preparedness and achieving the Sustainable Development Goals (SDGs).

    The report was released by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) ahead of the Third Ministerial Conference on CRVS in Asia and the Pacific, which will be held from 24 to 26 June in Bangkok. The conference will bring together governments and key partners to reflect on regional progress, identify key actions and enhance commitments towards ensuring universal registration. 

    Notes:
    The report Progress Made on Civil Registration and Vital Statistics in Asia and the Pacific After a Decade of Getting Every One in the Picture is available at https://bit.ly/CRVS2025  

    Members of the media are also invited to attend the Ministerial Conference in-person or via the online webcast.
     
    What: Third Ministerial Conference on Civil Registration and Vital Statistics in Asia and the Pacific

    When: 24 – 26 June 2025

    Where: UN Conference Centre, Ratchadamnern Nok Avenue, Bangkok  

    Registration: https://indico.un.org/event/1014582/

    Livestream for online attendees: https://webtv.un.org/ and https://www.youtube.com/unescap  

    Full programme: https://crvs.unescap.org/crvs-decade/third-ministerial-conference/programme

    The Economic and Social Commission for Asia and the Pacific (ESCAP) is the most inclusive intergovernmental platform in the Asia-Pacific region. The Commission promotes cooperation among its 53 member States and 9 associate members in pursuit of solutions to sustainable development challenges. ESCAP is one of the five regional commissions of the United Nations.
     

    MIL OSI – Submitted News –

  • MIL-OSI Banking: Money Market Operations as on June 13, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,95,523.70 5.16 2.02-7.00
         I. Call Money 18,287.85 5.31 4.75-5.36
         II. Triparty Repo 3,91,224.75 5.16 4.90-5.28
         III. Market Repo 1,84,185.10 5.16 2.02-5.75
         IV. Repo in Corporate Bond 1,826.00 5.42 5.35-7.00
    B. Term Segment      
         I. Notice Money** 124.50 5.21 5.00-5.35
         II. Term Money@@ 1,195.50 – 5.75-5.80
         III. Triparty Repo 789.25 5.29 5.15-5.45
         IV. Market Repo 69.37 5.56 5.56-5.56
         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# Fri, 13/06/2025 1 Sat, 14/06/2025 14.00 5.75
      Fri, 13/06/2025 2 Sun, 15/06/2025 0.00 5.75
      Fri, 13/06/2025 3 Mon, 16/06/2025 2,234.00 5.75
    4. SDFΔ# Fri, 13/06/2025 1 Sat, 14/06/2025 3,02,730.00 5.25
      Fri, 13/06/2025 2 Sun, 15/06/2025 55.00 5.25
      Fri, 13/06/2025 3 Mon, 16/06/2025 70,344.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -3,70,881.00  
    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          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,471.32  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     8,471.32  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -3,62,409.68  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on June 13, 2025 9,39,614.11  
         (ii) Average daily cash reserve requirement for the fortnight ending June 13, 2025 9,41,551.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ June 13, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on May 30, 2025 5,84,684.00  
    @ 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: 2025-2026/545

    MIL OSI Global Banks –

  • MIL-OSI Russia: Khorgos checkpoint witnesses revival of cooperation between China and Kazakhstan

    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

    URUMQI, June 16 (Xinhua) — Located in northwest China’s Xinjiang Uygur Autonomous Region and close to the border with Kazakhstan, Horgos Port is the country’s first-class land port with the longest history and the largest total shipping volume in the western region.

    In recent years, it has become an important window for exchanges and cooperation between the two countries.

    According to data as of June 13, since the beginning of 2025, the total volume of passenger traffic through the Khorgos checkpoint and the number of vehicles that have passed customs and border checks in both directions at this border crossing amounted to 620 thousand person-times and 223 thousand units, respectively, which is 35.3 percent and 40.6 percent more in annual terms for both indicators.

    As of June 12 this year, a total of 4,476 China-Europe/China-Central Asia freight trains have passed through the Khorgos checkpoint since the beginning of 2025, up 26.7 percent year-on-year, according to data from the checkpoint administration.

    Let us recall that, as of now, more than 80 international railway freight routes pass through Khorgos, connecting 18 countries.

    On June 7, the first international China-Central Asia tourist train returned to Xi’an. The train with more than 200 passengers departed from Xi’an to Almaty, Kazakhstan on May 29. It left China through the Khorgos railway checkpoint.

    Let us recall that in May 2023, China and Kazakhstan signed an intergovernmental agreement on mutual exemption from visa requirements, which officially entered into force in November of the same year. 2024 was the Year of Kazakhstan Tourism in China, and 2025 has been declared the Year of China Tourism in Kazakhstan.

    According to Li Jiang, deputy head of Horgos Customs, the launch of the above-mentioned international tourist train has laid a new foundation for deepening connectivity and promoting people-to-people exchanges between China and Central Asian countries.

    In addition, according to the results of the first five months of 2025, the flow of visitors to the China-Kazakhstan International Center for Boundary Cooperation (ICBC) “Khorgos” increased by 87.2 percent year-on-year to 3.893 million person-times.

    At present, there are 3 companies engaged in cross-border e-commerce and more than 20 streaming studios operating in Khorgos ICBC. To date, the total turnover through streaming in Khorgos ICBC has exceeded 100 million yuan.

    Khorgos checkpoint continues to upgrade infrastructure, optimize inspection procedures, and improve clearance efficiency to better serve the cross-border trade and humanitarian exchanges between China and Kazakhstan. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: Xi Jinping Deepens China’s Fruitful Partnership with Central Asia

    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

    BEIJING, June 15 (Xinhua) — In the summer sun-drenched Xi’an, China’s ancient capital, six pomegranate trees stand gracefully near the site of the first China-Central Asia Summit in May 2023, their branches hanging low and laden with fruit.

    Planted two years ago by Chinese President Xi Jinping and the leaders of five Central Asian countries, this living avenue serves as a vivid testimony to the increasingly close and dynamic ties between China and Central Asia.

    Building on past achievements, Xi and his Central Asian counterparts will gather in the Kazakh city of Astana later this month for a second summit to ensure even closer cooperation on trade, security and connectivity in the heart of Eurasia.

    The Xi’an summit in 2023 was the first ever meeting of heads of state under the China-Central Asia cooperation mechanism. In the embrace of the ancient city, they agreed to hold the summit every two years, alternately in China and Central Asia.

    Last year, the mechanism was further institutionalized with the establishment of a secretariat in Xi’an, the capital of Xi’s home province of Shaanxi.

    The Chinese leader attaches great importance to China’s relations with the region. In his opinion, Central Asia is at a strategic crossroads, linking East and West, North and South.

    “Developing friendly and cooperative relations with Central Asian countries is a priority of China’s foreign policy,” Xi Jinping said during his first visit to Central Asia since being elected as China’s president in 2013.

    Since then, he has visited the region eight times, deepening partnerships bilaterally and through platforms such as the Shanghai Cooperation Organisation and the Conference on Interaction and Confidence-Building Measures in Asia.

    Today, Central Asia is the only region in the world where every country is a strategic partner of China. According to Xi Jinping, these partnerships have paved a new path of good-neighborliness and mutually beneficial cooperation, creating a new paradigm of international relations.

    The main event of the Xi’an summit was the signing of the Xi’an Declaration, in which the Chinese president and the leaders of the five Central Asian countries promised to work together to build a closer China-Central Asia community with a shared future.

    This promise is in line with the core idea of Xiplomacy’s diplomatic strategy: creating a community with a shared destiny for humanity. Notably, this idea has already been fully realized at the bilateral level in Central Asia.

    Sheradil Baktygulov, Director of the Institute of World Politics of Kyrgyzstan, noted that the common political will of Xi Jinping and the leaders of Central Asian countries is the key to the sustainable development of Chinese-Central Asian cooperation.

    “This cooperation not only strengthens bilateral ties, but also lays the foundation for a new model of multilateral cooperation in the Eurasian region,” he added.

    The Chinese leader’s strong personal rapport with Central Asian leaders is helping to strengthen these ties. At the Xi’an summit, Xi Jinping hailed Tajik President Emomali Rahmon as an “old friend.” During talks with Xi, Uzbek President Shavkat Mirziyoyev called him his “dear brother.”

    Kazakh President Kassym-Jomart Tokayev, also an experienced sinologist, arrived in Xi’an on his 70th birthday. Xi told him: “Your visit on such a special occasion speaks volumes about the strength of our bilateral relations and confirms your unique bond with China.”

    MIL OSI Russia News –

  • MIL-OSI Russia: Xi Jinping Deepens China’s Fruitful Partnership with Central Asia

    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

    BEIJING, June 15 (Xinhua) — In the summer sun-drenched Xi’an, China’s ancient capital, six pomegranate trees stand gracefully near the site of the first China-Central Asia Summit in May 2023, their branches hanging low and laden with fruit.

    Planted two years ago by Chinese President Xi Jinping and the leaders of five Central Asian countries, this living avenue serves as a vivid testimony to the increasingly close and dynamic ties between China and Central Asia.

    Building on past achievements, Xi and his Central Asian counterparts will gather in the Kazakh city of Astana later this month for a second summit to ensure even closer cooperation on trade, security and connectivity in the heart of Eurasia.

    The Xi’an summit in 2023 was the first ever meeting of heads of state under the China-Central Asia cooperation mechanism. In the embrace of the ancient city, they agreed to hold the summit every two years, alternately in China and Central Asia.

    Last year, the mechanism was further institutionalized with the establishment of a secretariat in Xi’an, the capital of Xi’s home province of Shaanxi.

    The Chinese leader attaches great importance to China’s relations with the region. In his opinion, Central Asia is at a strategic crossroads, linking East and West, North and South.

    “Developing friendly and cooperative relations with Central Asian countries is a priority of China’s foreign policy,” Xi Jinping said during his first visit to Central Asia since being elected as China’s president in 2013.

    Since then, he has visited the region eight times, deepening partnerships bilaterally and through platforms such as the Shanghai Cooperation Organisation and the Conference on Interaction and Confidence-Building Measures in Asia.

    Today, Central Asia is the only region in the world where every country is a strategic partner of China. According to Xi Jinping, these partnerships have paved a new path of good-neighborliness and mutually beneficial cooperation, creating a new paradigm of international relations.

    The main event of the Xi’an summit was the signing of the Xi’an Declaration, in which the Chinese president and the leaders of the five Central Asian countries promised to work together to build a closer China-Central Asia community with a shared future.

    This promise is in line with the core idea of Xiplomacy’s diplomatic strategy: creating a community with a shared destiny for humanity. Notably, this idea has already been fully realized at the bilateral level in Central Asia.

    Sheradil Baktygulov, Director of the Institute of World Politics of Kyrgyzstan, noted that the common political will of Xi Jinping and the leaders of Central Asian countries is the key to the sustainable development of Chinese-Central Asian cooperation.

    “This cooperation not only strengthens bilateral ties, but also lays the foundation for a new model of multilateral cooperation in the Eurasian region,” he added.

    The Chinese leader’s strong personal rapport with Central Asian leaders is helping to strengthen these ties. At the Xi’an summit, Xi Jinping hailed Tajik President Emomali Rahmon as an “old friend.” During talks with Xi, Uzbek President Shavkat Mirziyoyev called him his “dear brother.”

    Kazakh President Kassym-Jomart Tokayev, also an experienced sinologist, arrived in Xi’an on his 70th birthday. Xi told him: “Your visit on such a special occasion speaks volumes about the strength of our bilateral relations and confirms your unique bond with China.”

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Advisory: Rally to save our history tomorrow – PSA

    Source: PSA

    Tomorrow at 8.30am, workers will rally outside Manatū Taonga Ministry for Culture and Heritage to protest a proposal to cut 16% of its workforce.
    The proposed cuts would decimate teams who maintain Te Ara Encyclopaedia of New Zealand, and produce education programmes and resources about the dawn raids, the 28th Māori Battalion, New Zealand’s participation in the Vietnam War, and more.
    “This rally is to protect our history and the people that help preserve it,” said PSA organizer Michael Woodcock. “Our understanding of our past, present, and future is being put at risk by the Government’s funding cuts.”
    What: Rally to save our history and stop cuts at Manatū Taonga Ministry for Culture and Heritage
    Where: Outside the Old Public Trust Building, 131-135 Lambton Quay, Wellington Central
    When: 8.30am tomorrow (Tuesday 17 June)
    Read our full release on the proposed cuts:  Govt cuts will undermine access to New Zealand’s history
    The Public Service Association Te Pūkenga Here Tikanga Mahi is Aotearoa New Zealand’s largest trade union, representing and supporting more than 95,000 workers across central government, state-owned enterprises, local councils, health boards and community groups.

    MIL OSI New Zealand News –