NewzIntel.com

Category: Asia

  • WHO members adopt global pandemic accord, but US absence casts doubts

    Source: Government of India

    Source: Government of India (4)

    Members of the World Health Organization adopted an agreement on Tuesday intended to improve preparedness for future pandemics following the disjointed global response to COVID-19, but the absence of the U.S. cast doubt on the treaty’s effectiveness.

    After three years of negotiations, the legally binding pact was adopted by the World Health Assembly in Geneva. WHO member countries welcomed its passing with applause.

    The pact was touted as a victory for members of the global health agency at a time when multilateral organisations like the WHO have been battered by sharp cuts in U.S. foreign funding.

    “The agreement is a victory for public health, science and multilateral action. It will ensure we, collectively, can better protect the world from future pandemic threats,” said WHO Director-General Tedros Adhanom Ghebreyesus.

    The pact aims to ensure that drugs, therapeutics and vaccines are globally accessible when the next pandemic hits. It requires participating manufacturers to allocate a target of 20% of their vaccines, medicines and tests to the WHO during a pandemic to ensure poorer countries have access.

    However, U.S. negotiators left discussions about the accord after President Donald Trump began a 12-month process of withdrawing the U.S. – by far the WHO’s largest financial backer – from the agency when he took office in January.

    Given this, the U.S., which poured billions of dollars into vaccine development during the COVID pandemic, would not be bound by the pact. And WHO member states would not face penalties if they failed to implement it.

    U.S. Health and Human Services Secretary Robert F. Kennedy Jr. slammed the World Health Organization in a video address to the Assembly, saying it had failed to learn from the lessons of the pandemic with the new agreement.

    “It has doubled down with the pandemic agreement which will lock in all of the dysfunction of the WHO pandemic response… We’re not going to participate in that,” he said.

    LATE CHALLENGE

    The deal was reached after Slovakia called for a vote on Monday, as its COVID-19 vaccine–sceptic prime minister demanded that his country challenge the adoption of the agreement.

    One hundred and twenty-four countries voted in favour, no countries voted against, while 11 countries, including Poland, Israel, Italy, Russia, Slovakia and Iran, abstained.

    Some health experts welcomed the treaty as a step towards greater fairness in global health after poorer nations were left short of vaccines and diagnostics during the COVID-19 pandemic.

    “It contains critical provisions, especially in research and development, that — if implemented — could shift the global pandemic response toward greater equity,” Michelle Childs, Policy Advocacy Director at Drugs for Neglected Diseases initiative, told Reuters.

    Others said the agreement did not meet initial ambitions and that, without strong implementation frameworks, it risked falling short in a future pandemic.

    “It is an empty shell… It’s difficult to say that it’s a treaty with firm obligation where there is a strong commitment… It’s a good starting point. But it will have to be developed,” said Gian Luca Burci, an academic adviser at the Global Health Centre at the Geneva Graduate Institute, an independent research and education organisation.

    Helen Clark the co-Chair of The Independent Panel for Pandemic Preparedness and Response, described the accord as a foundation to build from.

    “Many gaps remain in finance, equitable access to medical countermeasures and in understanding evolving risks,” she added.

    The pact will not go into effect until an annex on sharing of pathogenic information is agreed. Negotiations on this would start in July with the aim of delivering the annex to the World Health Assembly for adoption, WHO said. A Western diplomatic source suggested it may take up to two years to be agreed.

    (Reuters)

  • PLI scheme for food processing sector creates 2.5 lakh jobs, benefits nine lakh farmers

    Source: Government of India

    Source: Government of India (4)

    The Centre’s production linked incentive (PLI) scheme for the food processing sector has succeeded in attracting investments to the tune of Rs 7,000 crore and creating over 2.5 lakh jobs so far, according to a senior official of the Union Ministry of Food Processing Industries (MoFPI).

    “Till date, the ministry has funded almost 1,600 projects leading to the creation of 41 lakh tonnes of food processing capacity and benefiting almost nine lakh farmers,” said Ranjit Singh, joint secretary, MoFPI, in his address at FICCI’s ‘Foodworld India’ event here.

    He pointed out that food processing plays a pivotal role in agricultural diversification, value addition, reduction in post-harvest losses, and creation of surpluses for exports.

    Singh said, “The immense untapped potential of the Indian farm sector highlights the important role that domestic manufacturing can play when adequately supported by enabling government policies. With targeted interventions, this sector can contribute to India becoming self-reliant and a global food basket.”

    He highlighted the food processing sector’s role in enhancing the value of agricultural produce as well as driving favourable demand for Indian products in global markets. “Therefore, to realise its potential, we must continue to upgrade processing, packaging, storage and distribution, so that we’re able to meet both domestic and international standards,” he added.

    Singh further stated that the MoFPI is implementing initiatives, such as Kisan Sampada Yojana, an umbrella scheme to build cold chains, agro-processing clusters, food testing bodies, and support R&D in the sector. The ministry is also running the PM’s formalisation of micro food processing enterprises (PMFME) scheme to promote infrastructure development, innovation and entrepreneurship in the food processing sector across the country.

    He said that these schemes have also helped transform many small companies into medium ones. The PMFME scheme has supported close to two lakh micro enterprises through credit-linked subsidies and infrastructure creation in the last five years. (IANS)

  • Banu Mushtaq becomes first Kannada author to win International Booker Prize for ‘Heart Lamp’

    Source: Government of India

    Source: Government of India (4)

    Indian writer and women’s rights activist Banu Mushtaq has scripted history by becoming the first Kannada author to win the prestigious International Booker Prize. Her acclaimed short story anthology Heart Lamp clinched the award in London on Tuesday.

    Heart Lamp, originally written in Kannada and translated into English by Deepa Bhasthi, is a powerful anthology of 12 short stories that chronicle the everyday experiences of women and girls living in patriarchal communities in southern India. Spanning over three decades of writing—from 1990 to 2023—the collection reflects Mushtaq’s enduring commitment to portraying the nuanced realities of women’s lives.

    The International Booker Prize 2025 was jointly awarded to Mushtaq and translator Deepa Bhasthi, whose English rendition brought the stories to a global audience. This is the first full-length translation of Mushtaq’s work.

    According to the Booker Prize Foundation, Mushtaq is a prolific author with six short-story collections, a novel, an essay collection, and a volume of poetry to her credit. She is also the recipient of several notable literary accolades, including the Karnataka Sahitya Academy Award and the Daana Chintamani Attimabbe Award.

    Deepa Bhasthi, a writer and literary translator based in Kodagu, Karnataka, has previously translated works of Kannada literary giants such as Kota Shivarama Karanth and Kodagina Gouramma. Her skillful translation of *Heart Lamp* was also recognized as a vital component in bringing Kannada literature to a broader audience.

    Max Porter, Chair of the International Booker Prize 2025 jury, lauded Heart Lamp, stating that it was a unanimous favourite among the judges. “This was the book the judges really loved, right from our first reading. It’s been a joy to listen to the evolving appreciation of these stories from the different perspectives of the jury. We are thrilled to share this timely and exciting winner with readers around the world,” he said.

    Back home, Karnataka Chief Minister Siddaramaiah congratulated Banu Mushtaq for her historic win. Taking to X, he wrote, “Heartfelt congratulations to Kannada’s pride, author Banu Mushtaq, who has been awarded the International Booker Prize. This is a moment of celebration for Kannada, Kannadigas, and Karnataka.”

    The Chief Minister also praised the translator, saying, “On behalf of all Kannadigas, I extend congratulations to the talented writer Deepa Bhasthi, who translated Banu Mushtaq’s Booker Prize-winning work Hridaya Deepa into English as Heart Lamp. I wish she continues to write and translate with strength and spirit, spreading the essence of Kannada across the world.”

    (With ANI inputs)

  • MIL-OSI Russia: Direct freight railway route Tianjin-Tashkent opened

    Translation. Region: Russian Federal

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

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

    TIANJIN, May 21 (Xinhua) — A direct freight train route has opened between the north Chinese port city of Tianjin and the Uzbek capital Tashkent. The first train departed on Tuesday at about 4 p.m. Beijing time, carrying 50 containers of cargo brought by sea from the Republic of Korea to Tashkent within two weeks.

    For Uzbekistan, China is the largest trading partner and the largest source of exports of goods, among which electromechanical products are one of the leading items. As the operator of the new railway route reported, the above-mentioned train mainly transports auto parts, as well as some types of mechanical equipment, engineering construction materials and consumer electronics.

    The representative office of JSC Uzbekistan Railways in China indicated the importance of opening a new cargo route for Uzbekistan, as well as for the entire transport system of Central Asia, noting that the direct route has reduced the cargo transportation route from Tianjin to Uzbekistan by more than 800 km compared to previous routes passing through the cities of Xi’an, Hami or Urumqi.

    The Uzbek side expects that this route will be able to serve as an alternative corridor for multimodal cargo transportation for import-export enterprises, combining rail and sea transport, the representative office stated.

    Industry analysts are also convinced that the opening of the direct Tianjin-Tashkent railway route will further strengthen international freight logistics between Tianjin and other member countries of the Shanghai Cooperation Organization (SCO), which will bring new energy to trade and economic cooperation within the SCO. -0-

    MIL OSI Russia News –

  • India’s Q4 FY25 GDP Growth Projected at 6.4-6.5% Despite Global Headwinds: SBI

    Source: Government of India

    Source: Government of India (4)

    Despite weathering effects precipitated by global upheavals, the Indian economy stays largely resilient and is projected to clock a GDP growth of around 6.4-6.5 per cent in Q4 FY25, an SBI report said on Wednesday.

    To estimate GDP statistically, the State Bank of India’s Economic Research Department has built a ‘Nowcasting Model’ with 36 high-frequency indicators associated with industry activity, service activity, and the global economy.

    The model uses the dynamic factor model to estimate the common or representative or latent factor of all the high-frequency indicators from Q4 of FY13 to Q2 of FY23.

    “As per our ‘Nowcasting Model’, the forecasted GDP growth for Q4 FY25 should come in around 6.4-6.5 per cent,” said Dr. Soumya Kanti Ghosh, Group Chief Economic Advisor, SBI.

    Assuming there are no major revisions in Q1 to Q3 estimates in the upcoming data release by NSO, “we expect FY25 GDP to stand at 6.3 per cent,” Ghosh mentioned.

    The India Meteorological Department (IMD) has said the southwest monsoon is likely to arrive in Kerala within the next four to five days — well ahead of its normal onset date of June 1.

    If the monsoon arrives in Kerala as anticipated, it would mark the earliest onset over mainland India since 2009, when it began on May 23.

    “India is targeting 354.64 million tonnes of foodgrain production in the 2025-26 crop year starting July, on the forecast of better monsoon rains. In the current 2024-25 crop year, the government had set a target of 341.55 million tonnes of foodgrain production (so far: 332.3 million tonnes),” the SBI report mentioned.

    Further, taking a cue from a household survey, a slowdown in current household inflation expectations encourages higher discretionary spending and drives demand-led growth. However, the status quo in consumer confidence suggests that households are uncertain about global developments and economic prospects – caution is somewhat writ large on sustainable growth from a short-term perspective.

    The swift escalation of trade tensions and extremely high levels of policy uncertainty are expected to have a significant impact on global economic activity. As per the IMF, global growth is projected to drop to 2.8 per cent in 2025 and 3 per cent in 2026.

    “For India, the growth outlook is relatively more stable at 6.2 per cent in FY25 (6.3 per cent for FY26), supported by private consumption, particularly in rural areas, but this rate is 30 bps lower than the earlier estimate on account of higher levels of trade tensions and global uncertainty,” the report mentioned.

    (IANS)

  • India’s GDP growth in Q4 FY25 to remain robust around 6.4-6.5 pc: SBI report

    Source: Government of India

    Source: Government of India (4)

    Despite weathering effects precipitated by global upheavals, Indian economy stays largely resilient and is projected to clock a GDP growth around 6.4-6.5 per cent in Q4 FY25, an SBI report said on Wednesday.

    To estimate GDP statistically, the State Bank of India’s Economic Research Department has built a ‘Nowcasting Model’ with 36 high frequency indicators associated with industry activity, service activity, and global economy.

    The model uses the dynamic factor model to estimate the common or representative or latent factor of all the high frequency indicators from Q4 of FY13 to Q2 of FY23. “As per our ‘Nowcasting Model’, the forecasted GDP growth for Q4 FY25 should come around 6.4-6.5 per cent,” said Dr Soumya Kanti Ghosh, Group Chief Economic Advisor, SBI.

    Assuming there are no major revisions in Q1 to Q3 estimates in the upcoming data release by NSO, “we expect FY25 GDP to stand at 6.3 per cent,” Ghosh mentioned. The India Meteorological Department (IMD) has said the southwest monsoon is likely to arrive in Kerala within the next four to five days — well ahead of its normal onset date of June 1.

    If the monsoon arrives in Kerala as anticipated, it would mark the earliest onset over mainland India since 2009, when it began on May 23.

    “India is targeting 354.64 million tonnes of foodgrain production in the 2025-26 crop year starting July on the forecast of better monsoon rains. In the current 2024-25 crop year, the government had set a target of 341.55 million tonnes of foodgrain production (so far: 332.3 million tonnes),” the SBI report mentioned.

    Further, taking a cue from household survey, slowdown in current household inflation expectations encourages higher discretionary spending and drives demand-led growth while status quo in consumer confidence suggests that households are uncertain about the global developments and economic prospects – caution somewhat writ large on sustainable growth from a short-term perspective.

    The swift escalation of trade tensions and extremely high levels of policy uncertainty are expected to have a significant impact on global economic activity. AS per IMF, global growth is projected to drop to 2.8 per cent in 2025 and 3 per cent in 2026.

    “For India, the growth outlook is relatively more stable at 6.2 per cent in FY25 (6.3 per cent for FY26), supported by private consumption, particularly in rural areas, but this rate is 30 bps lower than the earlier estimate on account of higher levels of trade tensions and global uncertainty,” the report mentioned. (IANS)

  • Amazon fires drive unprecedented global forest loss in 2024, report says

    Source: Government of India

    Source: Government of India (4)

    Massive fires fueled by climate change led global forest loss to smash records in 2024, according to a report issued on Wednesday.

    Loss of tropical pristine forests alone reached 6.7 million hectares (16.6 million acres), an 80% spike compared to 2023 and an area roughly the size of Panama, mainly because Brazil, the host of the next global climate summit in November, struggled to contain fires in the Amazon amid the worst drought ever recorded in the rainforest. A myriad of other countries, including Bolivia and Canada, were also ravaged by wildfires.

    It was the first time the annual report, issued by the World Resources Institute and the University of Maryland, showed fires as the leading cause of tropical forest loss, a grim milestone for a naturally humid ecosystem that is not supposed to burn.

    “The signals in these data are particularly frightening,” said Matthew Hansen, the co-director of a lab at the University of Maryland that compiled and analyzed the data. “The fear is that the climate signal is going to overtake our ability to respond effectively.”

    Latin America was hit particularly hard, the report said, with the Amazon biome hitting its highest level of primary forest loss since 2016.

    Brazil, which holds the largest share of the world’s tropical forests, lost 2.8 million hectares (6.9 million acres), the most of any country. It was a reversal of the progress made in 2023 when President Luiz Inacio Lula da Silva took office promising to protect the world’s largest rainforest.

    “This was unprecedented, which means we have to adapt all our policy to a new reality,” said Andre Lima, who oversees deforestation control policies for Brazil’s Ministry of Environment, adding that fire, which was never among the leading causes of forest loss, is now a top priority for the government.

    Bolivia overtook the Democratic Republic of Congo as the second country with the most tropical forest loss despite having less than half the amount of forest as the African nation, which also saw a spike in forest loss last year.

    Bolivia’s forest loss surged by 200% in 2024, with a drought, wildfires and a government-incentivized agricultural expansion as the leading causes. Across Latin America, the report noted similar trends in Mexico, Peru, Nicaragua, and Guatemala.

    Conflicts in Colombia and the Democratic Republic of Congo also boosted deforestation rates, as armed groups used up natural resources.

    Outside the tropics, boreal forests, which evolved with seasonal fires, also posted record-high tree loss in 2024, with Canada and Russia each losing 5.2 million hectares (12.8 million acres) in 2024 as wildfires got out of control.

    Southeast Asia bucked the global trend with Malaysia, Laos, and Indonesia all posting double-digit decreases in primary forest loss, as domestic conservation policy, combined with efforts by communities and the private sector, continued to effectively contain fires and agricultural expansion.

    Another outlier was the Charagua Iyambae Indigenous territory in southern Bolivia, which was able to keep the country’s record fires at bay through land-use policies and early warning systems.

    Rod Taylor, the global director for forests at the WRI, said that as leaders descend on the Amazonian city of Belem for the next climate summit, he would like to see countries make progress in introducing better funding mechanisms for conservation.

    “At the moment,” he said, “there’s more money to be paid by chopping forests down than keeping them standing.”

    (Reuters)

  • MIL-OSI Asia-Pac: President Lai welcomes President Surangel Whipps Jr. of Republic of Palau with military honors

    Source: Republic of China Taiwan

    President Lai welcomes President Surangel Whipps Jr. of Republic of Palau with military honors
    President Lai Ching-te welcomed President Surangel Whipps Jr. of the Republic of Palau and his wife on the afternoon of May 20 with full military honors. In remarks, President Lai stated that this year marks the 26th anniversary of the establishment of diplomatic ties between our two countries, and that we have supported one another, overcome all kinds of challenges, and deepened cooperation across various domains. He expressed hope that, going forward, we can work together to make even greater contributions to the world. He said he looks forward to this visit allowing our two countries to enjoy even closer relations and together create even more fruitful outcomes as a result of our cooperation.
    The welcome ceremony began at 4:00 p.m. in the plaza fronting the Presidential Office. President Lai and President Whipps each delivered remarks after a 21-gun salute, the playing of the two countries’ national anthems, and a review of the military honor guard.
    A translation of President Lai’s remarks follows:
    Today, I am delighted to welcome President Whipps, First Lady  Valerie Whipps, and their delegation with full military honors as they make this state visit to Taiwan. On behalf of the people and government of the Republic of China (Taiwan), I extend my sincerest greetings to President Whipps and the esteemed members of the delegation.
    President Whipps is visiting Taiwan again following his reelection last year. His decisive victory in that election not only demonstrated the Palauan people’s support and trust in him but also highlighted the values of freedom and democracy shared by Taiwan and Palau.
    This year marks the 26th anniversary of the establishment of diplomatic ties between our two countries. Along the way, we have supported one another, overcome all kinds of challenges, and deepened cooperation across many domains. In particular, over the past several years, Taiwan has actively engaged with the world. I would like to thank President Whipps and the government of the Republic of Palau for continuing to back Taiwan’s international participation at events around the globe.
    In the future, Taiwan will work with Palau to make even greater contributions to the world. I anticipate that through President Whipps’s visit, our two countries will enjoy even closer relations and together create even more fruitful outcomes as a result of our cooperation. I wish you a pleasant and successful visit. 
    President Whipps then delivered remarks, a transcript of which follows:
    Good afternoon, President Lai Ching-te, Vice President [Bi-khim] Hsiao, distinguished officials, Ambassador [Jessica C.] Lee (黎倩儀). On behalf of the first lady and the delegation from Palau, alii and good afternoon. President Lai, it’s only been a year since we were here celebrating your inauguration, and it is indeed a profound honor to stand before you today and witness this remarkable precision, professionalism, and pride displayed by the Taiwan Honor Guard. Their discipline, their dedication, and their unwavering commitment to duty are an inspiration to us, and not only to the people of Taiwan, but to all who cherish peace, order, and freedom in our region.
    And as president of the Republic of Palau, I bring you warm greetings from our people and express our deepest respect for the enduring friendship between our nations. Taiwan and Palau share more than diplomatic ties; we share common values, democracy, mutual respect, and a steadfast belief in the rule of law. This honor guard stands as a symbol of those values. Every step, every salute, and every formation speak not only to military excellence, but to the character of the people who defend peace and help uphold dignity and honor.
    In today’s world, where peace is often challenged and freedom is tested, it is heartening to know that there are those who stand firm, not for aggression, but for stability; not for power, but for principle. So these young men and women who serve in this honor guard and this elite unit, you are more than soldiers. You are ambassadors of your nation’s strength, discipline, and grace. Your service uplifts your nation’s image and strengthens the bonds we hold dear.
    May you continue to serve with excellence, with courage, and humility. And on behalf of the people of Palau, I thank you, President Lai. May our partnership grow stronger, our region more peaceful, and our futures more secure through the values we share. Thank you, mesulang, xiexie.
    Also in attendance at the welcome ceremony were Dean of the Diplomatic Corps and Saint Vincent and the Grenadines Ambassador Andrea Clare Bowman  and members of the foreign diplomatic corps in Taiwan.

    MIL OSI Asia Pacific News –

  • MIL-OSI Banking: Result of the Daily Variable Rate Repo (VRR) auction held on May 21, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 25,000
    Total amount of bids received (in ₹ crore) 4,348
    Amount allotted (in ₹ crore) 4,348
    Cut off Rate (%) 6.01
    Weighted Average Rate (%) 6.01
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/378

    MIL OSI Global Banks –

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on May 21, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 25,000
    Total amount of bids received (in ₹ crore) 4,348
    Amount allotted (in ₹ crore) 4,348
    Cut off Rate (%) 6.01
    Weighted Average Rate (%) 6.01
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/378

    MIL OSI Economics –

  • MIL-OSI: Prosafe SE: First-quarter results 2025

    Source: GlobeNewswire (MIL-OSI)

    (Figures in brackets refer to the corresponding period last year)

    21 May 2025 – Prosafe SE reported EBITDA of USD 4.6 million (USD 7.2 million) for the first quarter of 2025. The company had four active vessels during the quarter.

    Operations and HSSE

    • Good operating performance
    • Safe Zephyrus extended with Petrobras to Q3 2027
    • Sale of Safe Concordia and Safe Scandinavia
    • Safe Caledonia re-activated for UK contract with start 1 June
    • Safe Boreas in transit to Singapore ahead of Australia contract
    • Safe Notos declared winner of Brazil 4-year tender

    Q1 financials

    • Revenues of USD 33 million (USD 34 million) and EBITDA of USD 4.6 million (USD 7.2 million)
    • Cash flow from operations of USD 28.4 million (negative USD 1.4 million) including contract prepayments for Safe Boreas and Safe Caledonia
    • Capex of USD 21.2 million (USD 1.7 million) due to reactivation of Safe Boreas and Safe Caledonia
    • Liquidity position of USD 54 million, compared to USD 46.8 million at year-end 2024

    Recapitalisation

    • Terms agreed for equitisation of USD 193 million of debt for 90% of the shares in the company
    • Supported by lenders representing the USD 250 million and the USD 93 million loan facilities and approved by Prosafe shareholders at the extraordinary general meeting on 16 May
    • Existing shareholders to retain 5% ownership with penny warrants for further 5% at EUR 0.01 per share
    • Transaction provides a sustainable capital structure and sufficient liquidity to meet capital expenditure and working capital needs for the foreseeable future
    • Estimated post recapitalization net debt of USD 220 million
    • Expected completion in Q3 2025

    Market and outlook

    • Ongoing Petrobras tenders confirm strong market fundamentals in Brazil
    • North Sea operators continue to plan for future campaigns with focus on 2027 and beyond
    • Increased backlog, improved market and recapitalisation positions Prosafe for improved earnings

    Please see the Q1 2025 presentation for further details.

    Terje Askvig, the CEO of Prosafe, says, “Operationally, we maintain high utilisation on our active fleet, while making good progress on preparing for new contracts in Australia and the UK. We also continue to build backlog with Safe Notos recently named winner, subject to final contract, of a 4-year tender with Petrobras in Brazil. We are also very pleased with the support shown by our lenders and shareholders through the agreed refinancing which will create a sustainable capital structure going forward and ensure that Prosafe continues to be the world’s leading provider of floating accommodation vessels and Units for Maintenance and Safety (UMS).”

    Presentation

    Terje Askvig, CEO, and Reese McNeel, CFO, will present the results at Pareto Securities, located at Dronning Mauds gate 3, 0115 Oslo, on 21 May 2025 at 10:00 CEST.

    This presentation is open to the public and will be live-streamed on Prosafe’s website.

    https://wwww.prosafe.com

    It will be possible to ask questions during the presentation by using the Q&A tool embedded in the audiocast. These questions will be answered after the presentation.

    A replay of the audiocast will be made available on Prosafe’s website shortly after.

    The Q1 2025 press release and presentation is attached and can be downloaded from https://www.prosafe.com and www.newsweb.no (https://www.newsweb.no). The 2024 annual report was published on 30 April 2025.

    Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com (https:///www.prosafe.com)

    For further information, please contact:

    Terje Askvig, CEO Phone: +47 952 03 886

    Reese McNeel, CFO Phone: +47 415 08 186

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

    Attachments

    The MIL Network –

  • MIL-OSI Asia-Pac: LCQ7: Managing passenger flows at land boundary control points

    Source: Hong Kong Government special administrative region

    Following is a question by Professor the Hon William Wong and a written reply by the Secretary for Transport and Logistics, Ms Mable Chan, in the Legislative Council today (May 21):

    Question:

    It has been reported that during the Labour Day Golden Week holiday on May 2 when a large number of Mainland tourists visited Hong Kong, the mobile network and Wi-Fi system at MTR Lok Ma Chau Station were overwhelmed as a large number of passengers simultaneously used their mobile phones to scan QR code tickets to enter and leave via turnstiles, and thus a significant number of passengers were stranded. In this connection, will the Government inform this Council:

    (1) whether it has compiled statistics on the number of passengers stranded at Lok Ma Chau Station on May 2 due to the failure of the mobile network and station Wi-Fi system;

    (2) as passengers were being stranded at Lok Ma Chau Station on May 2, whether the Government has communicated with relevant Mainland authorities to notify passengers who intended to enter Hong Kong via the Lok Ma Chau Spur Line Control Point that they should use alternative boundary control points (BCPs); given that Shenzhen Metro Line 4 is operated by the MTR Corporation Limited (MTRCL), whether the Government has urged MTRCL on the same day to immediately notify passengers travelling on Line 4 of the passenger stranding situation at Lok Ma Chau Station and called on them to cross the border via alternative BCPs;

    (3) whether the Hong Kong Special Administrative Region Government has conducted drills with relevant Mainland authorities regarding unexpected incidents at BCPs and formulated various contingency plans; and

    (4) whether simulation tests have been conducted at all BCPs to establish co-ordination mechanisms and joint response measures between the Mainland and Hong Kong for handling peak passenger flows and potential unexpected incidents (including emergency situations such as malfunctions of immigration systems, baggage and security screening system failures, and railway service disruptions); if so, of the time when such tests were conducted; if not, whether such tests will be conducted in the future?

    Reply:

    President,

    The Golden Week holiday is the peak period of Mainland visitors visiting Hong Kong. The Hong Kong Special Administrative Region (HKSAR) Government has been maintaining close liaison with relevant organisations and parties to prepare well for arrangements of boundary control points (BCPs), public transportation, crowd management, etc, with a view to ensuring the smooth operation of various aspects in receiving visitors and offering a high-quality experience to them. In view of this year’s Labour Day Golden Week holiday, the MTR Corporation Limited (MTRCL) had made advance preparations by enhancing the train services for cross-boundary railways (including Lo Wu and Lok Ma Chau Stations of the East Rail Line, and the Hong Kong West Kowloon High Speed Rail Station), as well as deploying additional staff and strengthening information dissemination. Meanwhile, the MTRCL maintained close liaison with relevant departments at the BCPs, so as to adjust train services in a timely manner according to the situation at the BCPs, and provide visitors with safe, reliable and convenient railway services.

    In consultation with the Security Bureau, the Transport Department (TD) and the MTRCL, my consolidated reply to the question raised by Professor the Hon William Wong is as follows:

    (1) As observed by the MTRCL, during this year’s Labour Day Golden Week holiday, the number of visitors arriving in or exiting from Hong Kong via the Lok Ma Chau Spur Line Control Point using the MTR East Rail Line and the total patronage were slightly higher than those of the same period last year. On May 2 (Friday) this year, the peak arrival and departure periods for Mainland visitors were in the morning and evening respectively, during which an average of approximately 7 500 visitors entered and exited Lok Ma Chau Station per hour.

    During the peak departure period in the evening, a relatively large number of passengers used their phones at the same time to activate QR codes at ticket gates, resulting in a sudden surge in mobile data demand within a short period of time; the pressure on the mobile network providers’ provision of mobile data also intensified the passengers’ demand for Wi-Fi capacity at the station. As a result of the overall overloading of mobile data and Wi-Fi networks, passengers needed longer time for connection to the network to retrieve the QR codes, leading to a higher passenger flow at the stations’ entry/exit gates and concourse at certain periods of time. The MTRCL immediately took contingency measures in response to the actual situation, such as diverting passenger queues before the gates, adjusting the operation of individual escalators as appropriate to control the passenger flow, and intermittently allowing passengers to exit the gates without having to tap their cards from approximately 9.45pm to 10.30pm to divert passenger flow. Throughout this period, the Transport and Logistics Bureau (TLB) and the TD maintained close communication with the MTRCL and promptly urged the MTRCL to enhance services in all aspects to ensure the smooth and safe operation of the station in face of the large patronage. 

    To cope with the peak travelling period for visitors during the Labour Day Golden Week this year, the MTRCL anticipated that there would be an increase in demand for network data capacity by passengers. As such, arrangements were made before the Golden Week to increase the in-station Wi-Fi capacity for supplementary purpose to cater for the needs of passengers who require internet access but do not have mobile network data. In light of the situation that occurred on the evening of May 2, the MTRCL promptly contacted mobile network providers in that same evening to immediately upgrade the mobile data capacity near BCPs as well as further increase the Wi-Fi capacity at Lok Ma Chau Station so as to facilitate the use of QR codes for passengers to take trains.

    In response to the aforementioned situation, the TLB has requested the MTRCL to review its arrangements for future visitor peak periods based on the experience gained this time. The MTRCL will also enhance its publicity efforts on Mainland social media platforms to remind visitors to activate their QR codes for payment in advance, thereby reducing the time spent at the gates. In addition, the MTRCL will promote the use of mobile Octopus for tourists as another payment option that does not require internet connection. The MTRCL will further discuss with relevant parties on how to manage passenger flow more effectively and plan ahead to ensure that the peak passenger flow can be handled more smoothly in future.

    (2) The Inter-departmental Joint Command Centre, comprising the Police, the Immigration Department, the Customs and Excise Department and relevant parties (including the MTRCL), was activated during the Labour Day Golden Week (i.e. from May 1 to 5, 2025) to monitor the real-time situations at various BCPs. The Joint Command Centre maintained close liaison with the Mainland port authorities through the established port hotlines and real-time notification mechanisms, and took timely contingency actions as necessary to ensure the smooth operation of the land control points.

    In addition, relevant departments at BCPs continuously monitored real-time situations at the control points and maintained liaison with the corresponding Mainland port authorities, including immediate mutual notification of the passenger flow situation upon learning about the heavy network traffic at the MTR Lok Ma Chau Station on May 2 this year as well as implementation of appropriate crowd control and diversion measures to facilitate passenger flow and maintain order at the BCP.

    (3) and (4) The HKSAR Government and relevant Mainland authorities have conducted incident drills at various BCPs from time to time, simulating emergencies such as fires, power supply failures, immigration system malfunctions and infectious disease incidents. These drills aim to formulate and practise contingency plans, strengthen co-ordination between departments and various parties and enhance overall response capabilities, thereby ensuring safety and order at BCPs in the event of unexpected incidents. Recent joint exercises include the flooding evacuation drill at the Express Rail Link West Kowloon Control Point in March 2025 and the joint exercise at the Lo Wu Control Point in October 2024 to simulate scenarios of power supply and system network incidents at the Hong Kong Port and contingency measures taken by relevant parties.

    MIL OSI Asia Pacific News –

  • Fundamentally Flawed: Nvidia CEO Huang on U.S. Export Policy Fueling China’s Own Chip Development

    Source: Government of India

    Source: Government of India (4)

    U.S. export controls on artificial intelligence chips to China were “a failure,” Nvidia Chief Executive Jensen Huang said on Wednesday.

    “All in all, the export control was a failure,” Huang said, adding, “The fundamental assumptions that led to the AI diffusion rule in the beginning, in the first place, have been proven to be fundamentally flawed.”

    The U.S. block on sales of advanced AI chips to China has forced companies there to buy semiconductors from Chinese designers such as Huawei, while also spurring China to invest aggressively to develop a supply chain that doesn’t rely on manufacturers outside the country.

    Huang’s comments came after China on Monday urged the United States to “immediately correct its wrongdoings” and stop “discriminatory” measures following the U.S. guidance warning companies not to use advanced computer chips from China, including Huawei’s Ascend AI chips.

    The U.S. action seriously undermined consensus reached at the high-level bilateral trade talks in Geneva, a statement from China’s commerce ministry said, vowing resolute measures if the U.S. continues to “substantially” harm China’s interests.

    Huang, speaking at the annual Computex event in Taipei, said Nvidia’s market share in China dropped to 50% from 95% at the start of former U.S. President Joe Biden’s administration.

    (Reuters)

  • EU, Britain go ahead with new Russia sanctions without waiting for Trump

    Source: Government of India

    Source: Government of India (4)

    The EU and Britain announced new sanctions against Russia on Tuesday without waiting for Washington to join them, a day after President Donald Trump’s phone call with Vladimir Putin brought about neither a ceasefire in Ukraine nor fresh U.S. sanctions.

    London and Brussels said their new measures would zero in on Moscow’s “shadow fleet” of oil tankers and financial firms that have helped it avoid the impact of other sanctions imposed over the war.

    “Sanctions matter, and I am grateful to everyone who makes them more tangible for the perpetrators of the war,” Ukraine’s President Volodymyr Zelenskiy wrote on Telegram.

    He said it “would be good” if the United States added its help, adding: “It is important that America remain involved in the process of bringing peace closer.”

    The sanctions were unveiled without an immediate announcement of corresponding steps from Washington, despite intense public lobbying from European leaders for the Trump administration to join them if Russia rejected a ceasefire.

    “We have repeatedly made it clear that we expect one thing from Russia – an immediate ceasefire without preconditions,” German Foreign Minister Johann Wadephul said on the sidelines of a meeting with EU counterparts in Brussels.

    As Russia had not accepted a ceasefire, “we will have to react,” he said. “We also expect our U.S. allies not to tolerate this.”

    Trump told reporters on Tuesday he was deliberating over what actions to take, but gave no further details.

    “We’re looking at a lot of things, but we’ll see,” he said.

    In a two-hour conversation with Putin on Monday, the U.S. president dropped his earlier insistence on an unconditional 30-day ceasefire and signalled that the war he once promised to end in 24 hours was no longer his to fix – a message that leaves Ukraine vulnerable and its allies worried.

    Asked on Monday why he had not imposed fresh sanctions to push Moscow into a peace deal, Trump said that could make the situation worse and affect the chance of a deal, while adding: “But there could be a time where that’s going to happen.”

    Trump said after talking to Putin he had told Zelenskiy and European leaders that Russia and Ukraine would immediately start negotiations on conditions for a ceasefire, a process Russia said would take time.

    Russia and Ukraine held their first direct talks in more than three years on Friday at Trump’s behest, but failed to agree a truce after Moscow presented conditions that a member of the Ukrainian delegation called “non-starters”.

    POPE WILLING TO HOST TALKS

    Italian Prime Minister Giorgia Meloni said on Tuesday that Pope Leo had confirmed to her his willingness to host in the Vatican the next round of negotiations to try to end the war.

    U.S. Secretary of State Marco Rubio told a congressional hearing on Tuesday that Putin had not received any real concessions in the U.S. effort to initiate talks and existing U.S. sanctions on Russia remained in place.

    “The president … believes that right now, you start threatening sanctions, the Russians will stop talking, and there’s value in us being able to talk and drive them to get to the table. We’ll see,” Rubio said.

    Ukraine says it is ready for an immediate ceasefire. The Europeans say Russia’s insistence on talks first is proof that Putin, who started the war by invading his neighbour in 2022, is not prepared to end it.

    European Commission President Ursula von der Leyen said a further package of sanctions was being prepared.

    “It’s time to intensify the pressure on Russia to bring about the ceasefire,” she wrote on X.

    RUSSIA SAYS IT WILL NOT BOW TO ULTIMATUMS

    Russian Foreign Ministry spokeswoman Maria Zakharova said Russia would never bow to what she called ultimatums.

    Putin said on Monday that Moscow was ready to work with Ukraine on a memorandum about a future peace accord. “Now, accordingly, the ball is in Kyiv’s court,” Zakharova said.

    Brussels and London signalled they have not given up hope of persuading Washington.

    “Let us push Vladimir Putin to put an end to his imperialist fantasy,” France’s Foreign Minister Jean-Noel Barrot said.

    Britain’s Foreign Minister David Lammy said “delaying peace efforts will only redouble our resolve to help Ukraine to defend itself and use our sanctions to restrict Putin’s war machine”.

    The latest sanctions are aimed mainly at cracking down on a shipping fleet Russia uses to export oil, circumventing a $60 a barrel price cap imposed by the G7 group of industrialised countries to limit Russia’s income.

    Britain and the EU said they would also work to lower the cap, which imposes far less of a discount on Russian oil now that global prices have fallen this year.

    (Reuters)

  • PM Modi pays tributes to Rajiv Gandhi on his 34th death anniversary

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday paid tributes to former Prime Minister Rajiv Gandhi on the occasion of his 34th death anniversary.

    Rajiv Gandhi, who served as India’s Prime Minister from 1984 to 1989, assumed office following the assassination of his mother, then Prime Minister Indira Gandhi. At the age of 40, he became the youngest Prime Minister in Indian history.

    In a post on X, PM Modi wrote, “On his death anniversary today, I pay my tributes to our former Prime Minister Shri Rajiv Gandhi Ji.”

    Rajiv Gandhi led the country until the 1989 general elections, after which he served as the Leader of the Opposition in the Lok Sabha. He resigned in December 1990, just six months before he himself was assassinated in a brutal terrorist attack.

    Assam Chief Minister Himanta Biswa Sarma also took to X and paid homage to the former Prime Minister.

    “Remembering former Prime Minister Rajiv Gandhi on his punyatithi today,” he posted on X.

    Earlier in the day, Leader of Opposition in the Lok Sabha, Rahul Gandhi and Congress National President Mallikarjun Kharge lead the Congress party in paying heartfelt tributes to the former leader at Veer Bhumi in New Delhi.

    Marking the occasion, the Congress party shared a tribute on X, stating, “On the death anniversary of the late Shri Rajiv Gandhi, the leader of opposition, Rahul Gandhi visited ‘Veer Bhumi’ and paid his emotional tribute to him. The excellent work done by Rajiv Gandhi in the national interest can never be forgotten.”

    Earlier in the day, Mallikarjun Kharge also paid homage to the former leader through a post on X, calling Rajiv Gandhi “a great son of India” who inspired hope among millions.

    He wrote, “His visionary and courageous interventions were instrumental in preparing India for the challenges and opportunities of the 21st Century.”

    Kharge highlighted some of Rajiv Gandhi’s key contributions to India, stating, “These include lowering the voting age to 18, strengthening Panchayati Raj, spearheading the Telecom and IT revolution, implementing a computerisation program, securing sustained peace accords, launching a universal immunisation program, and introducing a new education policy focused on inclusive learning.”

    He concluded his tribute stating, “Our deepest respects to the Former PM, Bharat Ratna, Rajiv Gandhi on his martyrdom day.”

    (IANS)

  • Indian stock market opens higher amid mixed global cues and sectoral buying

    Source: Government of India

    Source: Government of India (4)

    The Indian benchmark indices opened higher on Wednesday amid mixed global cues as buying was seen in the pharma, auto, PSU bank and financial service sectors in the early trade.

    At around 9.35 am, Sensex was trading 296.53 points or 0.37 per cent up at 81,482.97 while the Nifty added 88.90 point or 0.36 per cent at 24,772.80

    Nifty Bank was up 98.55 points or 0.18 per cent at 54,975.90. The Nifty Midcap 100 index was trading at 56,028.55 after declining 154.10 points or 0.27 per cent. Nifty Smallcap 100 index was at 17,419.35 after dropping 63.65 points or 0.36 per cent.

    According to analysts, Indian equity benchmarks declined sharply on Tuesday amid reports of increasing COVID-19 cases in Southeast Asian countries, like Singapore and Hong Kong.

    “Technically, Nifty closed below its 5-day EMA for the first time since May 8, 2025, suggesting a shift to profit-booking. Support levels lie at 24,494 and 24,378, while resistance is expected in the 24,800-24,900 range,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.

    In the absence of strong global cues, Indian markets are likely to pick up from where they left off yesterday, he added.

    Meanwhile, in the Sensex pack, Sun Pharma, HDFC Bank, Tech Mahindra, TCS, Nestle India, Maruti Suzuki, ICICI Bank, UltraTech Cement and Hindustan Unilever were the top gainers. Whereas, Eternal, Kotak Mahindra Bank, IndusInd Bank and NTPC were the top losers.

    In the Asian markets, China, Hong Kong, Bangkok, Seoul and Jakarta were trading in green. whereas Only Japan was trading in red.

    In the last trading session, Dow Jones in the US closed at 42,677.24, down 114.83 points, or 0.27 per cent. The S&P 500 ended with a loss of 23.14 points, or 0.39 per cent, at 5,940.46 and the Nasdaq closed at 19,142.71, down 72.75 points, or 0.38 per cent.

    The spike in uncertainty and risk is impacting the market rather unexpectedly. Yesterday’s FII sell figure of Rs 10,016 crore is a major reversal of their big buying in May and if this persists, it has the potential to impact the market, said experts.

    According to provisional data from the NSE, foreign institutional investors (FIIs) sold Indian equities worth Rs 10,016.10 crore on May 20, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 6,738.39 crore.

    (IANS)

  • MIL-OSI Submissions: Analysis – Asia-Pacific card payments market to reach nearly $25 trillion in 2025, forecasts GlobalData

    Source: GlobalData

    The Asia-Pacific (APAC) card payments market is expected to growth by 4.3% to reach $24.7 trillion in 2025 supported by growing preference for electronic payments. 

    Strong growth in markets like China, South Korea, Japan, and Australia is complemented by rising adoption in emerging economies, supported by infrastructure improvements, regulatory initiatives, and expanding financial inclusion across the region, according to GlobalData, a leading data and analytics company.

    GlobalData’s Payment Cards Analytics reveals that the card payment value in APAC registered a growth of 5.8% in 2023, driven by the rise in consumer spending. The value registered an estimated growth of 4.8% in 2024 to reach $23.7 trillion.

    Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, comments: “China, South Korea, Japan and Australia have a robust card payments market with high card payments value. Other markets within the region are also catching up supported by improving payment infrastructure, rising middle-income population, growing financial awareness, and banks offering lucrative benefits in terms of reward programs and instalment facilities.”

    The APAC card payments market is dominated by China, which is expected to grow by 3.7% in 2025 to reach $20.3 trillion. It is distantly followed by South Korea with expected card payments value of $984.5 billion, Japan with $866.1 billion, and Australia with $731.4 billion in 2025.

    However, card usage is comparatively low in the Philippines, Indonesia, India, Thailand, and Vietnam. This is mainly due to the limited financial awareness for card payments, inadequate POS infrastructure, and growing popularity of QR-based mobile payments.

    These countries are also gradually pushing card adoption through various financial awareness campaigns as well as by introducing favorable regime. For instance, the central bank of Indonesia capped the credit card interest rate at 1.75%, effective from 1 July 2021, reducing it from existing 2% per month to drive credit card usage.

    Similarly, in India, the government’s move to abolish merchant service fees on RuPay cards (domestic card) effective from 1 January 2020, encouraged the acceptance of RuPay cards among merchants, thereby pushing debit card usage.

    However, high cost involved in POS infrastructure for merchants and high preference for digital wallets among consumers remain challenge for faster growth in card payments in the region. Many consumers in the region leapfrogged from cash to digital wallets skipping card payments. The availability of low-cost smartphones, rising Internet penetration, growing awareness of mobile payments and the proliferation of digital wallets have resulted in Asian countries shifting from cash transactions to mobile digital payments.

    Sharma concludes: “Looking ahead, the total card payments market in APAC is expected to continue its upward trajectory, driven by ongoing government initiatives, improving payment infrastructure and a consumer shift towards electronic payments. However, high preference for mobile payments remains a challenge for their faster adoption. Overall, the card payments value in APAC is expected to register a compound annual growth rate (CAGR) of 6% between 2025 to 2029 to reach $31.1 trillion in 2029.”

    About GlobalData

    4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

    MIL OSI – Submitted News –

  • MIL-OSI Asia-Pac: CM discussed at WHO assembly

    Source: Hong Kong Information Services

    Secretary for Health Prof Lo Chung-mau spoke at a panel discussion session and met World Health Organization (WHO) officials yesterday as he continued his attendance at the WHO’s 78th World Health Assembly in Geneva, Switzerland.

    In the morning, Prof Lo and Director of Health Dr Ronald Lam listened to remarks made by State Council Vice Premier Liu Guozhong at the assembly’s “High Level Segment”.

    Prof Lo commented: “The Hong Kong Special Administrative Region Government spares no efforts to complement the nation’s strategies to contribute to the building of a global community of health for all.”

    Prof Lo and Dr Lam also attended a side event themed “Improving Universal Health Coverage through the implementation of WHO Traditional Medicine Strategy 2025-2034”, which was hosted by the National Administration of Traditional Chinese Medicine along with the health authorities of Malaysia, Nepal, Saudi Arabia and Seychelles.

    In a panel discussion, Prof Lo spoke about Hong Kong’s experiences in promoting high-quality and high-standard Chinese medicine (CM) development.

    He said: “The Hong Kong SAR Government will leverage Hong Kong’s strengths in its healthcare system, regulatory framework, standard-setting, clinical research, trade, and more to develop the city into a bridgehead for the internationalisation of CM.”

    In terms of CM practice, he explained that the Hospital Authority has accumulated extensive experience through its integrated Chinese-Western medicine services over the years. The Chinese Medicine Hospital of Hong Kong is developing a “Hong Kong model” that includes pure CM, CM-predominant, and integrated Chinese-Western medicine clinical services, with a view to promoting CM at an international level.

    With regard to CM drugs, Prof Lo said Hong Kong’s Government Chinese Medicines Testing Institute is actively advancing scientific research, education and international exchanges on CM drug testing. This includes developing internationally recognised reference standards and testing methods for CM drugs, and promoting the commercial application of such methods, with a view to developing Hong Kong into an international hub for CM testing and quality control.

    Prof Lo and Dr Lam also met the WHO’s Director of Nutrition & Food Safety Luz María De Regil to discuss strategies and interventions for obesity and weight management. Prof Lo said that the Hong Kong SAR Government will strive to halt the rise of obesity by implementing life-course interventions.

    The delegation will arrive back in Hong Kong tomorrow.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: China’s pizza market to exceed 100B yuan within 5 years: report

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

    Visitors taste pizza at the booth of Italy at 2025 Chengdu Europe Culture Season & European Culture Street in Chengdu, southwest China’s Sichuan Province, April 12, 2025. [Photo/Xinhua]

    China’s pizza market is projected to surpass 100 billion yuan (about 13.9 billion U.S. dollars) over the next five years, driven by rapid growth in lower-tier cities and rising demand for delivery and ready-to-eat products, according to an industry report.

    The market is forecasted to grow from 48 billion yuan in 2024 to 60.8 billion yuan in 2025, said the report released at the ongoing SIAL Shanghai, an international food exhibition. China had more than 60,000 pizza outlets nationwide by the end of March.

    Between 2016 and 2022, pizza chains in China’s third-tier cities and below grew at a compound annual growth rate of 10 percent, outpacing 7.6 percent growth in first-tier cities. An estimated 15,000 new stores are expected to open in lower-tier markets between 2025 and 2027.

    China’s online pizza market share surpassed in-store sales for the first time in 2022, reaching 58.1 percent. The proportion is expected to continue rising in the coming years, according to the report.

    Pizza entered the Chinese mainland in 1990 with the launch of the first foreign-invested restaurant. Initially considered a premium Western offering confined to top-tier cities, the food item has gained traction over the past decades.

    Analysts attribute the market expansion to increased food delivery adoption, rising consumer spending in smaller cities, and growing demand for personalized, healthier pizza options tailored to local tastes.

    The report noted that despite this momentum, China’s pizza store density remains low compared with other countries. As of 2022, China had 11.7 pizza outlets per million people, compared with 232.4 in the United States and roughly one-third the density of Japan and the Republic of Korea, suggesting ample room for further expansion.

    According to industry experts, the evolution of China’s pizza market reflects both the openness of its consumer market and long-term growth potential.

    SIAL Shanghai, an international food and beverage trade show co-hosted by multiple organizations including France’s Comexposium Group and the China General Chamber of Commerce, spans 200,000 square meters and features more than 5,000 exhibitors from 75 countries and regions.

    The event runs from May 19 to 21 in the eastern Chinese metropolis. 

    MIL OSI China News –

  • MIL-OSI Economics: Money Market Operations as on May 20, 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) 5,74,008.90 5.67 0.01-6.75
         I. Call Money 16,733.50 5.79 4.85-5.85
         II. Triparty Repo 3,77,859.80 5.66 5.62-5.80
         III. Market Repo 1,77,682.60 5.69 0.01-6.75
         IV. Repo in Corporate Bond 1,733.00 5.87 5.82-6.75
    B. Term Segment      
         I. Notice Money** 131.30 5.76 5.40-5.85
         II. Term Money@@ 725.00 – 6.10-6.10
         III. Triparty Repo 2,185.00 5.83 5.70-5.90
         IV. Market Repo 1,031.95 5.68 5.35-5.98
         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 Tue, 20/05/2025 1 Wed, 21/05/2025 4,617.00 6.01
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Tue, 20/05/2025 1 Wed, 21/05/2025 435.00 6.25
    4. SDFΔ# Tue, 20/05/2025 1 Wed, 21/05/2025 2,24,630.00 5.75
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,19,578.00  
    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          
      (III) Long Term Operations^          
         (a) Repo Thu, 17/04/2025 43 Fri, 30/05/2025 25,731.00 6.01
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,735.56  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     34,466.56  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -1,85,111.44  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on May 20, 2025 9,66,107.38  
         (ii) Average daily cash reserve requirement for the fortnight ending May 30, 2025 9,48,817.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ May 20, 2025 4,617.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on May 02, 2025 2,34,873.00  
    @ 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.
    ^ As per the Press Release No. 2025-2026/91 dated April 11, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/377

    MIL OSI Economics –

  • Trump Unveils $175B Golden Dome Missile Defense System, Cites China and Russia Threats

    Source: Government of India

    Source: Government of India (4)

    President of the United States Donald Trump said on Tuesday he had selected a design for the $175-billion Golden Dome missile defense shield and named a Space Force general to head the ambitious program aimed at blocking threats from China and Russia.

    The program, first ordered by Trump in January, aims to create a network of satellites, perhaps numbering in the hundreds, to detect, track and potentially intercept incoming missiles.

    Trump told a White House press conference that U.S. Space Force General Michael Guetlein would be the lead program manager for an effort widely viewed as the keystone to Trump’s military planning.

    Golden Dome will “protect our homeland,” Trump said, adding that Canada had said it wanted to be part of it.

    In a statement, the office of Canadian Prime Minister Mark Carney said he and his ministers were discussing a new security and economic relationship with their American counterparts.

    “These discussions naturally include strengthening NORAD and related initiatives such as the Golden Dome,” it added.

    Trump said the defense shield, which would cost some $175 billion, should be operational by the end of his term in January 2029, but industry experts were less certain of that timeframe and the cost.

    “Ronald Reagan wanted it many years ago, but they didn’t have the technology,” Trump said, referring to the space-based missile defense system, popularly called “Star Wars”, that Reagan proposed.

    The Golden Dome program faces both political scrutiny and funding uncertainty.

    “The new datapoint is the $175 billion, but the question remains, over what period of time. It’s probably 10 years,” said Tom Karako of the Center for Strategic and International Studies.

    Silicon Valley and U.S. software expertise can be leveraged to bring advances, while also using existing missile defense systems, he added.

    This month, the Congressional Budget Office estimated that Golden Dome could cost as much as $831 billion over two decades.

    Democratic lawmakers have voiced concern about the procurement process and involvement of Trump ally Elon Musk’s SpaceX, which has emerged as a frontrunner alongside Palantir PLTR.O and Anduril to build key components of the system.

    “The new autonomous space-age defense ecosystem is more about Silicon Valley than it is about ‘big metal’,” Senator Kevin Cramer of North Dakota said at the White House event.

    “So what’s exciting about this is it makes it available to everybody to participate, to compete.”

    “Big metal” refers to legacy defense contractors.

    The Golden Dome idea was inspired by Israel’s land-based Iron Dome defense shield that protects it from missiles and rockets.

    Trump’s Golden Dome is much more extensive, including a massive array of surveillance satellites and a separate fleet of attacking satellites that would shoot down offensive missiles soon after lift-off.

    Tuesday’s announcement kicks off the Pentagon’s effort to test and ultimately buy the missiles, systems, sensors and satellites that will constitute Golden Dome.

    Trump said Alaska would be a big part of the program, while Florida, Georgia and Indiana would also benefit.

    Many of the early systems are expected to come from existing production lines. Attendees at the press conference named L3Harris Technologies LHX.N, Lockheed Martin LMT.N and RTX Corp RTX.N as potential contractors for the massive project.

    L3 has invested $150 million in building out its new facility in Fort Wayne, Indiana, where it makes the Hypersonic and Ballistic Tracking Space Sensor satellites that are part of a Pentagon effort to better detect and track hypersonic weapons with space-based sensors and could be adapted for Golden Dome.

    Golden Dome’s funding remains uncertain. Republican lawmakers have proposed a $25-billion initial investment for Golden Dome as part of a broader $150-billion defense package, but this funding is tied to a contentious reconciliation bill that faces significant hurdles in Congress.

    “Unless reconciliation passes, the funds for Golden Dome may not materialize,” said an industry executive following the program, who spoke on condition of anonymity. “This puts the entire project timeline in jeopardy.”

    (Reuters)

  • MIL-OSI Security: Philippine, U.S., Australian forces conduct combined training on Palawan

    Source: United States INDO PACIFIC COMMAND

    PUERTO PRINCESA, Philippines — U.S. Marines from 2nd Battalion, 1st Marine Regiment, Marine Rotational Force – Darwin (MRF-D) 25.3 Marine Air-Ground Task Force (MAGTF), Australian Army Soldiers with the 5th/7th Battalion, The Royal Australian Regiment (5/7 RAR), Australian Defence Force (ADF), and Philippine Marines from the 3rd Marine Brigade, Philippine Marine Corps (PMC), executed a high-tempo, trilateral simulated airfield insertion during a maritime key terrain security operation (MKTSO) for Exercise Balikatan 25, May 4, 2025.

    MIL Security OSI –

  • EAM Jaishankar meets Danish PM in Copenhagen, discusses green partnership, anti-terror cooperation

    Source: Government of India

    Source: Government of India (4)

    External Affairs Minister S. Jaishankar, currently on an official visit to Denmark, met Danish Prime Minister Mette Frederiksen in Copenhagen, conveying Prime Minister Narendra Modi’s personal greetings and reaffirming India’s commitment to deepen its Green Strategic Partnership with Denmark.

    Taking to X, EAM Jaishankar wrote, “Thank PM Mette Frederiksen for warmly receiving me in Copenhagen this evening. Conveyed the personal greetings of PM Narendra Modi. Thank Denmark for its solidarity and support in combatting terrorism. Value PM Frederiksen’s guidance to take forward our Green Strategic Partnership and widen the canvas of our cooperation.”

    The meeting held on Tuesday evening, comes ahead of the 3rd India-Nordic Summit, which is scheduled to take place later this year in Norway, which PM Modi was initially expected to attend, but changes in schedule led to Jaishankar representing India.

    During the meeting, Jaishankar and Frederiksen also discussed regional and global issues of mutual concern, including counter-terrorism collaboration.

    Denmark has expressed consistent support for India’s position on global terrorism, a topic that has gained renewed urgency following recent security developments in South Asia.

    India and Denmark share a unique diplomatic framework, the Green Strategic Partnership, launched in 2020, which stands as India’s only such partnership globally. It has become a cornerstone of bilateral relations, with both countries focusing on sustainable development, renewable energy, water management, and climate action.

    Earlier in April, PM Modi had a phone conversation with PM Frederiksen, during which both leaders emphasised the growing scope of bilateral cooperation. “Glad to speak with PM Mette Frederiksen today. Reaffirmed our strong support for the India-Denmark Green Strategic Partnership and enhancing cooperation across sectors for the benefit of our people,” PM Modi posted on X following the call. (IANS)

  • Airstrikes kill dozens in Gaza, international criticism of Israel grows

    Source: Government of India

    Source: Government of India (4)

    Israeli forces killed at least 55 Palestinians in airstrikes in Gaza on Tuesday, local medics said, continuing to bombard the enclave despite mounting international pressure to halt military operations and allow unimpeded deliveries of aid.

    Britain announced it was suspending trade talks with Israel and summoning its ambassador over “egregious policies” in the occupied West Bank and Gaza, while European Union foreign policy chief Kaja Kallas asked for a review of the EU-Israel trade deal, according to Dutch news agency ANP.

    The war, now in its 20th month, has left Gaza in ruins and its population facing a worsening hunger crisis. It has strained Israel’s relations with much of the world and those with its closest ally, the United States, now appear to be wavering.

    The United Nations said no humanitarian aid had been distributed yet in Gaza, although Israel eased its 11-week-old blockade on Monday.

    “Israeli authorities are requiring us to offload supplies on the Palestinian side of Kerem Shalom crossing and reload them separately once they secure our team’s access from inside Gaza,” said U.N. spokesperson Stephane Dujarric.

    He said four trucks of baby food were dropped off on the Palestinian side of the border on Monday, and that a few dozen trucks of flour, medicine, nutrition supplies and other basic items entered Gaza on Tuesday.

    Israel’s military said 93 UN aid trucks entered Gaza on Tuesday via Kerem Shalom “after a thorough security inspection”.

    Indirect ceasefire talks between Israel and Hamas militants in Qatar appeared to falter again, with Israeli Prime Minister Benjamin Netanyahu saying he had decided to bring back the senior negotiating team from Doha for consultations.

    Hamas accused Netanyahu of entering the talks in bad faith, pretending to participate in a bid to mislead global public opinion. “No real negotiations have taken place since last Saturday,” the Palestinian Islamist group said in a statement.

    Israel’s military chief said during a Gaza field tour that the army would expand its operations against Hamas, capture additional territory and “clear and destroy the terrorist infrastructure until (Hamas) is defeated”.

    18 DEAD IN AIRSTRIKE ON TWO HOMES, MEDICS SAY

    Israel conducted further airstrikes on Tuesday across the densely populated enclave and medics said the sites hit included two homes where children were among the 18 dead, and a school housing displaced families.

    Israel’s military, which on Monday warned those in the southern Gaza city of Khan Younis to evacuate to the coast as it prepared for an “unprecedented attack”, had no comment. Israel says Hamas uses civilian buildings for cover; Hamas denies this.

    In Gaza City, Reuters footage showed men, women and children sifting through the rubble of the Daraj neighbourhood school where they had been sheltering, and where charred pieces of clothing and a red teddy bear lay among scattered belongings.

    At nearby Al-Ahli Hospital, men said prayers over bodies wrapped in white shrouds, before carrying them to their graves.

    “What is our fault? What is the fault of children? What is the fault of the women we found on the stairs with their hair and clothes torn and burned?” said Omar Ahel, who had been sheltering at the school. “By God, this is injustice.”

    Israeli strikes have killed more than 500 people in the past nine days as the military campaign has intensified, Gaza medics say.

    SANCTIONS

    British Prime Minister Keir Starmer told parliament he, along with the leaders of France and Canada, was “horrified” by Israel’s military escalation, repeating calls for a ceasefire.

    The three nations had warned on Monday of “concrete actions” against Israel if it did not stop military operations in Gaza and lift restrictions on aid.

    In addition to suspending trade talks, Britain announced sanctions against a number of individuals and groups in the Israeli-occupied West Bank over alleged violence against Palestinian residents.

    EU sanctions on violent Israeli settlers have been prepared but have so far been blocked by one member state, the EU’s Kallas said, without naming the country.

    “External pressure will not divert Israel from its path in defending its existence and security against enemies who seek its destruction,” Israeli Foreign Ministry spokesperson Oren Marmorstein posted on X.

    Israel’s ground and air offensive has displaced nearly all Gaza’s 2.3 million residents and killed more than 53,000, according to Gaza health authorities.

    The campaign began after Hamas-led militants attacked Israeli communities near Gaza’s border in October 2023, killing about 1,200 people and seizing 251 hostages, according to Israeli tallies.

    The hunger crisis in Gaza deepened after Israel imposed a blockade on supplies from March 2. The U.N. says at least 500 trucks of aid and commercial goods need to enter Gaza every day to alleviate the humanitarian crisis.

    Louise Wateridge of the U.N. Palestinian refugee agency UNRWA said on Tuesday there was little food left.

    “Everything’s empty. The warehouses, the distribution centres, they’ve been empty for weeks,” she said, speaking from a warehouse in Jordan that she said had food for 200,000 people that could be driven to Gaza in just a few hours.

    Israel’s leadership has insisted that it can free remaining hostages and dismantle Hamas through stepped-up military action. Hamas has said it would free the hostages in exchange for an end to the war and the release of Palestinians in Israeli jails.

    (Reuters)

  • MIL-OSI China: Eagle Yang’s reputation soars after US tryouts

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

    A virtual unknown before the draft combine, China’s NBA prospect Yang Hansen has introduced himself, big time, to league scouts, with his impressive outing at the trial camp turning heads.

    Dubbed “baby Jokic” by his Chinese fans, Yang has finally put his intriguing blend of size, skills and basketball IQ on display for club executives in the NBA, after the 19-year-old center, a fan of three-time NBA MVP Nikola Jokic, completed last week’s Draft Combine in Chicago with flying colors.

    The Qingdao Eagles’ Yang Hansen (L)  goes for a layup during the game against the Zhejiang Lions at the 2024-2025 CBA league in Hangzhou, Zhejiang Province on April 23, 2025. (Xinhua/Jiang Han)

    After being scrutinized in a series of physical tests, skill drills, interviews and five-on-five scrimmages at the combine event, Yang has significantly raised his draft stock, according to multiple United States media platforms and draft analysts, with the young pro having emerged as a potential first-round pick, from his projected mid-second round slot before the tryout.

    At the combine, which gathered 75 top prospects from the US collegiate system, the G-League and overseas programs, Yang measured solidly.

    He stands at a towering 7-foot-1 (2.16-meters) without shoes (2nd overall), posting a 9-foot-3 standing reach (fourth overall). He also ranked fifth among all the centers in the shuttle run, lane agility and three-quarter sprint at the event, showing excellent mobility and coordination for a post player of his stature.

    Through a total 37 minutes from two scrimmages, Yang showed off his size and all-around game for the first time under the watchful eyes of NBA franchise scouts and front-office staff, after honing his game for two years playing in the CBA with the Qingdao Eagles.

    Despite his current weaknesses in conditioning, strength and speed in defensive rotations, Yang contributed 12 points, on 5-for-7 shooting, and two assists in his first scrimmage, and backed it up with another 11 points on 75 percent shooting, six assists and six rebounds in the second.

    He certainly stood out, to say the least.

    “No matter Yang’s short-term future, it’s clear he improved his standing while in Chicago, and is now firmly on NBA radars, even if he still has work to do on his game,” ESPN basketball insider Jonathan Givony wrote in his draft analysis.

    Another ESPN pundit Jeremy Woo agreed, saying that the scrimmages really worked well to enhance Yang’s draft prospects.

    “Overall, Yang looked like he belonged at the combine, and held his own against an experienced, physical opponent in Michigan’s Vlad Goldin, exceeding expectations for many who were unfamiliar with him coming in,” Woo wrote in his analysis.

    After watching Yang’s performance in Chicago, Derek Parker, a Draft Digest staff writer with Sports Illustrated, listed the young Chinese national team member as one of the surprises of the combine camp.

    And he believes Yang is still just scratching the surface of his huge potential as an all-rounder.

    “Yang likely won’t be able to avoid G-League time if drafted, given how high the skill jump to the NBA will be, and certain negatives like conditioning and foot speed,” Parker wrote.

    “But, there’s a very real chance that, with his feel for the game — and most notably his high passing prowess for a big man — that he could play NBA minutes down the road.

    “Should any singular team fall in love with his skill set as a potential passing hub with scoring and defensive upside, he could very well earn first-round buzz at this year’s draft.”

    Yang’s relatively stronger-than-expected performance at the combine event, however, should be kept in perspective, with most projected lottery picks, such as toppick favorite Cooper Flagg of Duke, sitting out all the scrimmages.

    The humble youngster seems to have dealt all the hype and buzz with a cool head.

    “The small exam has been done. It went quite smoothly overall,” Yang posted on his social media account on Sunday.

    “I appreciate all the encouragement and support. Yet, I should face the gap between myself at the moment, and the highest level, with an objective eye. Whatever result it brings, each step counts on the journey,” said Yang, who will turn 20 on June 26 — the night of the draft in Brooklyn, New York.

    Developed in Qingdao’s youth system, Yang first garnered international attention when he led China to a third-place finish at the FIBA U18 Asian Championship in 2022.

    He then tallied 12.6 points, 10.4 rebounds, 4.7 assists and a tournament-leading 5 blocks at the U19 World Cup in Hungary, where he was named on the youth tourney’s All-Second Team.

    In only his second professional season in the CBA, Yang has averaged 16.6 points, 10.5 rebounds, 3 assists and 2.6 blocks per game in 45 starts with the Qingdao Eagles in the 2024-25 regular season, before leading the No 8 seed into quarterfinals of the playoffs, where Qingdao was narrowly edged out 3-2 by the league-leading Zhejiang Lions in the best-of-five series last month.

    Having been selected into the All-CBA first team in his first two seasons, Yang’s untapped potential, despite being relatively unknown to fans abroad, became evident in the US when Klutch Sports Group, a sports agency founded by LeBron James’ business partner Rich Paul, signed him in January.

    Yang met Paul right after arriving in Los Angeles earlier this month for the Draft Combine, and will continue attending tryouts after being invited by a growing list of NBA franchises, according to Klutch Sports Group.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: LCQ14: Promoting research and development of Hong Kong

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Tang Fei and a written reply by the Secretary for Education, Dr Choi Yuk-lin, in the Legislative Council today (May 21):
     
    Question:
     
    According to a research publication released by the Legislative Council Secretariat last month, the number of research and development (R&D) personnel per million population in Hong Kong is significantly lower than that of neighbouring regions, and the proportion of local research postgraduates is continuously declining. There are views that research postgraduates also face multiple challenges in employment and the transformation of research outcomes. If such issues are not addressed in a timely manner, Hong Kong’s future innovation development and economic restructuring will be affected. In this connection, will the Government inform this Council:
     
    (1) given that according to the aforesaid research publication, Hong Kong currently has only 4 809 researchers per million population, lagging far behind Singapore and South Korea, whether the Government has drawn up specific measures to attract and nurture local R&D talent, particularly in STEM fields; if so, of the details; if not, the reasons for that; whether it has set specific targets and timelines to increase the number of local R&D personnel in the next three years;
     
    (2) given that according to the aforesaid research publication, in the 2022-2023 academic year, only 63 per cent of research postgraduates from universities funded by the University Grants Committee secured full-time employment within six months after graduation, and only 11.6 per cent of graduates could manage to find jobs directly related to their studies, whether the Government has tailor-made support measures to address the employment challenges faced by research postgraduates, so as to help them maximise their potential and meet the needs of the local R&D industry; if so, of the details; if not, the reasons for that; and
     
    (3) as there are views pointing out that while Hong Kong’s R&D outcomes reach international standards, they fall short in terms commercialisation and industrialisation, whether the Government will strengthen efforts to promote industry-academia-research collaboration to enhance the industrialisation of R&D outcomes and foster the development of an innovative economy; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
    The Government has all along been dedicated to promoting the development of innovation and technology (I&T), with a view to driving economic restructuring and more diversified development. Apart from the nation’s clear support for Hong Kong’s development into an international I&T hub under the 14th Five-Year Plan, the recently promulgated 2024-2035 master plan on building China into a leading country in education also proposed to establish an integrated co-ordinating mechanism for education, technology and talent, strengthening the supportive role of education for science and talent, closely tying in with the development of technological innovative centres in the Guangdong-Hong Kong-Macao Greater Bay Area and the development of a highland for high-level calibre and platform for attracting talent, and enhancing the overall efficacy of the innovation system.
     
    The replies from the Education Bureau and the Innovation, Technology and Industry Bureau to the Hon Tang Fei’s question are as follows:
     
    (1) and (2) The Government has been expanding the local research and I&T talent pool through a multi-pronged approach. On the front of nurturing talent, the Government guides the University Grants Committee (UGC)-funded universities to align their planning with the nation’s strategy of invigorating China through science and education, and support the goal of developing Hong Kong into an international I&T hub, including setting the key performance indicators in the 2022 Policy Address with 35 per cent of the students pursuing UGC-funded programmes to study in STEAM (science, technology, engineering, arts and mathematics) subjects. In addition, publicly-funded research postgraduate (RPg) places have been gradually increased from 5 595 in the 2022/23 academic year to 7 200 places in the 2024/25 academic year. Together with the gradual uplift of the over-enrolment ceiling from 70 per cent in the 2021/22 academic year to 100 per cent, institutions could flexibly enrol 14 400 RPg students at most, which is an increase of more than half, to constantly expand the I&T and research talents of Hong Kong.
     
    Additionally, the STEM Internship Scheme under the Innovation and Technology Commission (ITC) subsidises undergraduates and postgraduates taking full-time STEM-related programmes to enrol in short-term internships, so as to foster their interest early in pursuing careers in I&T after graduation. The Research Talent Hub under the ITC also provides funding support for eligible companies or organisations to engage university graduates to conduct research and development (R&D) work.
     
    For attracting talent front, the InnoHK Research Clusters has successfully attracted R&D talents from all over the world to Hong Kong, with over 2 500 local, overseas and Mainland researchers involved, and has provided training for over 1 200 PhD students. The ITC will launch the Frontier Technology Research Support Scheme, with a view to attracting international top-notch talents to conduct basic research in frontier technologies in Hong Kong and nurture local researchers.
     
    According to the report “Hong Kong Innovation Activities Statistics 2023” released by the Census and Statistics Department in December 2024, the number of R&D personnel has reached 43 403 in 2023, which has increased steadily over the years.
     
    (3) With an aim to enhance the I&T ecosystem and Hong Kong’s competitiveness on the I&T front, the Government has been promoting collaboration among the industry, academic and research sectors through various measures, and adopting a multi-pronged approach to support commercialisation of R&D outcomes of local universities. For example, the $10 billion Research, Academic and Industry Sectors One-plus Scheme under the Innovation and Technology Fund (ITF) funds, on a matching basis, research teams from universities with good potential to become successful start-ups to transform and commercialise their R&D outcomes, while industry sponsorship is a mandatory requirement. Furthermore, the ITF will continue to provide annual funding to the Technology Transfer Office of each of the eight UGC-funded universities, thereby supporting the development of innovative ideas and R&D outcomes into new products or services. The R&D centres set up by the Government have also been taking forward industry-driven applied R&D work that suits market needs and transferring technologies to the industries through contract researches, licensing arrangements, etc to commercialise their R&D outcomes. Meanwhile, the Government facilitated the establishment of the Hong Kong New Industrialisation Development Alliance. Pooling together talent and resources from various fields, the Alliance aims to serve as a platform for collaboration among the Government, industry, academia, research and investment sectors. With a view to promoting co-operation among enterprises and organisations, we believe that the Alliance will also be conducive to the promotion of transformation and commercialisation of R&D outcomes.

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: NZ ‘running out of patience’ – Peters lashes Israel over Gaza aid blockade

    RNZ News

    New Zealand has joined 23 other countries calling out Israel and demanding a full supply of foreign aid be allowed into the territory.

    Foreign Affairs Minister Winston Peters told RNZ Morning Report today it was “intolerable” that Israel had blocked any aid reaching residents for many weeks.

    The UN is warning that 14,000 babies are estimated to be suffering severe acute malnutrition in Gaza and ideally they need to get supplies within 48 hours.

    The UK, France and Canada have expressed their frustration, with the UK’s Foreign Secretary David Lammy telling Parliament the war in Gaza had entered a “dark new phase” and the UK was cancelling trade talks with Israel.

    Although the situation had come about because of acts of terrorism by Hamas, for residents in Gaza it had become “intolerable”, Peters told Morning Report.

    “We’ve had enough of this and we want the matter resolved and now.”

    A full resumption of aid should have happened a long time ago and it was essential that the United Nations be involved in delivering it.

    ‘Had enough of it’
    “… we’ve just simply had enough of it, utterly so [from Israel].”

    The statement by the countries reaffirmed what had been said for a long time that Israel must make aid available.

    New Zealand also opposed Israel’s latest expansion of military operations in Gaza, Peters said.

    The Palestinian Authority and countries such as Egypt and Indonesia understood New Zealand’s position.

    “We just want to sort this out and the long-term thing [Palestinians’ future alongside Israel] has got to be resolved as well.

    “Israel needs to get the message very clear — we are running out of patience and hearing excuses.”

    Asked if the Israeli ambassador should be called in so the message could be conveyed more clearly, he said it would be a symbolic gesture that would not help starving babies.

    Israel already knew what this country’s stance was, he said.

    It was an appalling situation that had started with “unforgivable terrorism” but Israel had gone “far too far” in its response, Peters said.

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: China’s lesser-known destinations draw more inbound tourists

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

    .

    Basking in the sunshine, John Jammet and his wife sat in the courtyard of a traditional house in the historic Pingyao County of north China’s Shanxi Province, with coffee in hand. Their trip seemingly offered them a glimpse into the lives of Chinese back in the day.

    “Last night we traveled in the main streets and the lanterns were very beautiful,” said the man from France. “What attracted me most were a lot of young girls and boys wearing traditional clothes. It showed that they love their culture and history.”

    Fascinated by the video game “Black Myth: Wukong,” Jammet became interested in the culture behind it, and thus decided to come to China and have a look. The couple carefully planned their trip, with it including China’s capital Beijing, Pingyao, the ancient capital Xi’an in northwest China and the picturesque Guangxi Zhuang Autonomous Region in south China, reflecting their quest to see “both modern cities and traditional culture.”

    “In the Western world, I think there is misunderstanding about China, because our countries are different,” he explained. “It is important to see with our own eyes what’s the truth about China. For me, China is safe and clean, people are kind and helpful.”

    At the mention of China, images that immediately jump into the minds of many foreign tourists are normally the Great Wall, giant pandas and the many skyscrapers in the bustling metropolis of Shanghai in east China.

    Thanks partly to China’s eased visa policies, an increasing number of foreign tourists are now also turning their attention to lesser-known destinations to delve deeper into Chinese history and culture, just like Jammet and his wife.

    Foreign tourists learn to make traditional wheaten food at a homestay in Pingyao, north China’s Shanxi Province, May 15, 2025. (Photo by Qiao Yan/Xinhua)

    OFF THE BEATEN TRACK

    As of the beginning of May, China has granted unilateral visa-free entry to people from 38 countries, and has extended its visa-free transit period to 240 hours for travelers from 54 countries.

    In 2024, China recorded 64.88 million border crossings by foreign nationals, an 82.9-percent increase year on year. In the first quarter of 2025, this number stood at 17.44 million, up 33.4 percent compared to the same period in 2024.

    During the five-day May Day holiday, the most recent vacation in China for family outings and tourism, statistics regarding air ticket bookings on Chinese travel services platform Qunar showed that in addition to the megacities of Beijing, Shanghai and Guangzhou, the lower-tier cities of Chengdu, Xiamen, Nanjing, Chongqing and south China’s Haikou were also among the top-ranking destinations for non-Chinese tourists. In addition, hotel bookings made by foreign passport holders in Zhuhai, east China’s Qingdao and central China’s Wuhan grew by 70, 60 and 50 percent respectively.

    Hotels, restaurants and even hairdressers in residential areas not very close to traditional attractions in Beijing are beginning to greet foreign tourists, while small cities and counties are also seeing more inbound visitors.

    Zachary Iziah Smith, an American travel blogger, poses for a photo at Mogao Grottoes in Dunhuang, northwest China’s Gansu Province, April 11, 2025. (Xinhua)

    Kang Mobei is general manager of a shop affiliated to the Gansu Provincial Museum, which sells creative cultural products inspired by items in the museum, like a green fluffy toy based on the iconic copper galloping horse.

    Notably, Gansu Province in northwest China is home to many historical sites, including the Mogao Grottoes UNESCO World Heritage Site. During the May Day holiday, she found more foreign tourists in her shop, many of whom came from countries like Australia, Indonesia, Thailand and Japan.

    “Some of them had already been to the museum, and a few even showed me pictures they found on social media platforms like ‘rednote’ when asking for products,” said Kang, who observed that some customers had fluffy toys from other creative cultural product shops dangling from their bags.

    With overseas customers in mind, the store installed POS machines for international bank cards and carried out language training for their staff.

    A foreign visitor (L) learns how to make matcha beverage at a tea industrial park in Jiangkou County, southwest China’s Guizhou Province, April 14, 2025. (Xinhua/Yang Wenbin)

    EASIER, FASTER, BETTER KNOWN

    To meet this increasing demand from foreign customers for niche tourist destinations, Chen Wanni and Chen Min last year founded China Explorer Tour (CET), a tour operating company specializing in authentic food, adventure and cultural-immersion themed retreats and experiences across China.

    “It was more successful than we had expected,” said Chen Wanni, admitting that she was prepared for a loss in the first year, but surprisingly they managed to break even. The referral rate of the tourist routes reached 60 percent, with many customers recommending to their friends to come back, while quite a few have come more than once.

    “Tourism is not only an industry, but also a window for overseas travelers to learn about China,” she said.

    Chen Min informed Xinhua that more and more overseas tourists are expressing interest in China’s lesser-known destinations, in addition to the traditional attractions, representing the maturity of the nation’s tourism industry in recent years.

    Tom Peacock-Nazil from Britain last September booked a 10-day tour with CET, and visited not only Beijing and Xi’an but also southwest China’s Guizhou Province, where he saw both the stunning beauty of nature and various ethnic cultures.

    “I realized I had massively underestimated China,” he said. “I think I’ve fallen in love with China. That’s mainly because we’ve been off the beaten track. I’m dying to come back and I’ve been learning about other provinces. I’ve got plans already.”

    Tom Peacock-Nazil (2nd R) and other tourists pose for a photo in Leishan County, southwest China’s Guizhou Province, in September 2024. (China Explorer Tour/Handout via Xinhua)

    Sun Weili, a regional manager with the Chinese travel platform Trip.com Group, noted that the surge in foreign tourists for in-depth tours in China is a result of combined efforts. “Along with eased visa policies, they can also feel the convenience in terms of payment and traffic, as well as more diversified tours,” he said.

    For instance, a 16-day luxury train tour from Chengdu to Xinjiang Uygur Autonomous Region has attracted overseas visitors, which promises to take them to an in-depth journey to the northwestern region. So far tickets for all the 10 trips between May and October have been sold out, with 70 percent of the customers inbound tourists.

    Meanwhile, thanks to movies, video games and social media, Chinese culture is better promoted across the world, luring more curious overseas visitors to have a closer look. “We are more open and confident,” Sun said.

    Zhang Jun, who is with a travel agency in Datong in Shanxi, has worked as a tour guide for 18 years. He has noted the huge development of inter-city transportation which has made self-guided tours possible. “For instance, we used to sit in overnight trains and transfer to reach Pingyao from Beijing. But now the journey takes less than four hours.”

    John Jammet this time traveled in China for 15 days, which he found not enough to explore the country. “China is big,” he said. “I might need to spend a month here.”

    MIL OSI China News –

  • MIL-OSI USA: VIDEO: Senator Hassan Presses Homeland Security Secretary Noem on Protecting Constitutional Rights and Secures Commitment to Follow Court Orders

    US Senate News:

    Source: United States Senator for New Hampshire Maggie Hassan
    WASHINGTON – During a Senate Homeland Security Committee hearing today, U.S. Senator Maggie Hassan (D-NH) questioned Department of Homeland Security Secretary Kristi Noem about preserving the fundamental constitutional protection of habeas corpus, which requires that the government provide a reason for detaining or imprisoning someone, as well as an opportunity for that person to seek judicial review of their detention. There have been recent reports that the Trump Administration is considering unilaterally suspending habeas corpus. Senator Hassan also pressed Secretary Noem on critical national security challenges, including the rise of AI-enabled cybercrime targeting seniors and vulnerabilities in U.S. critical infrastructure from attacks by adversaries like China. 
    To watch Senator Hassan’s hearing questions, click here.
    Senator Hassan began by questioning Secretary Noem about the fundamental constitutional protection of habeas corpus after the Trump Administration stated it was considering suspending this right. Secretary Noem incorrectly defined habeas corpus as “a constitutional right that the President has to be able to remove people from this country.” Senator Hassan explained that “habeas corpus is the legal principle that requires that the government provide a public reason for detaining and imprisoning people. If not for that protection, the government could simply arrest people, including American citizens, and hold them indefinitely for no reason.” She emphasized that “habeas corpus is the foundational right that separates free societies like America from police states like North Korea. As a Senator from the Live Free or Die state, this matters a lot to me and my constituents and to all Americans.” 
    Senator Hassan then secured a commitment from Secretary Noem that she would follow court orders if the President attempted to suspend habeas corpus and a federal court reversed that order. “I’m glad that you have now committed to following court orders. I’m glad you believe in the basic freedom for Americans if ordered to do so by a court,” said Senator Hassan. 
    Senator Hassan then asked how the Department of Homeland Security is addressing increasingly sophisticated cyber criminals targeting Americans. These criminals use new tools and techniques, including artificial intelligence-generated imagery, to rob Americans, including seniors who lost $5 billion to scammers in 2024 alone. Senator Hassan also raised concerns about recent reports that the Chinese government installed remote access to Chinese-made power inverters, potentially allowing China to disable parts of our power grid. She pushed Secretary Noem to bolster DHS’s efforts to partner with state and local governments on cybersecurity. 

    MIL OSI USA News –

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for May 21, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on May 21, 2025.

    Australian para sport has issues everywhere – here’s what must be fixed ahead of the Brisbane Paralympics
    Source: The Conversation (Au and NZ) – By Katherine Raw, Lecturer, Sport Management, Swinburne University of Technology Bratislav Kostic/Shutterstock Australia’s underwhelming performance at the 2024 Paris Paralympics has raised serious questions about how well our adaptive sport system is working. The Paris games returned our lowest medal tally since 1988, from our smallest team since

    What’s the difference between skim milk and light milk?
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    Source: The Conversation (Au and NZ) – By Nicola Gaston, Director of the MacDiarmid Institute for Advanced Materials and Nanotechnology, University of Auckland, Waipapa Taumata Rau Shutterstock/Olivier Le Queinec A lack of strategy and research funding – by both the current and previous governments – has been well documented, most comprehensively in the first report

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    Victorian budget has cash to splash on health, transport but new levies, job cuts, rising debt signal pain ahead
    Source: The Conversation (Au and NZ) – By David Hayward, Emeritus Professor of Public Policy, RMIT University There was not a lot of cheer in the media reporting ahead of the 2025/6 Victorian budget released on Wednesday. Debt and deficits dominated the coverage. All eyes turned to new treasurer, Jaclyn Symes, to see if in

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