Category: Asia

  • MIL-OSI USA: As Trump defunds federal firefighting, California steps up: introducing the world’s largest helicopter firefighting fleet

    Source: US State of California 2

    Jul 31, 2025

    What you need to know: California has completed a multi-year effort to modernize its aerial firefighting fleet, with the final delivery of two state-of-the-art Fire Hawk helicopters arriving in Sacramento – bringing CAL FIRE’s Fire Hawk fleet to a total of 16 stationed throughout the state.

    SACRAMENTO – In stark contrast to the Trump administration’s cuts to public safety and emergency response, California continues to ramp up its firefighting arsenal: the state now has the largest civilian helicopter firefighting fleet in the world.

    Governor Gavin Newsom today announced a monumental achievement in CAL FIRE’s ongoing commitment to protecting California, as the final two of sixteen Sikorsky S-70i Fire Hawk helicopters arrived at McClellan Airfield in Sacramento. This arrival completes a multi-year transition that significantly upgrades the department’s aerial firefighting capabilities. This year also marks the full conversion of all ten CAL FIRE Helitack bases from the Vietnam-era Huey UH-1H helicopters to the state-of-the-art Fire Hawk. It’s a full circle moment on an effort that the Governor initiated at the beginning of his first term. 

    This comprehensive modernization effort, which began with the first base receiving a Fire Hawk in 2020, represents a substantial statewide initiative and a long-term investment in the safety and protection of California’s communities, property, and natural landscapes.

    Our fleet of Fire Hawk helicopters – now the largest in the world – is a proven tool in our growing firefighting arsenal. During the devastating Los Angeles fires, we saw them in action, conducting critical missions at night which stopped the Palisades Fire from dipping into Mandeville Canyon and toward the 405 freeway. Hundreds of homes were saved because of these state-of-the-art helicopters and their heroic pilots.

    With the Trump Administration pulling back on federal firefighting, California continues to step up to protect our communities.

    Governor Gavin Newsom

    Earlier this month, the Governor sent a model executive order to the White House for the President to issue to help the federal government match California’s efforts and better manage its forestlands, which make up 57% of California’s forests (compared to just 3% managed by the state). 

    This comes amid the Trump administration’s dangerous cuts to the U.S. Forest Service, which also threatens the safety of communities across the state. The U.S. Forest Service has lost 10% of all positions and 25% of positions outside of direct wildfire response – both of which are likely to impact wildfire response this year. Just last week, the Trump administration proposed a massive reorganization that would shutter the Pacific Regional Forest Service office and other regional Forest Service offices across the West, compounding staff cuts and voluntary resignations across the agency.

    The world’s largest aerial firefighting fleet – just got even bigger

    The new Fire Hawk helicopters add to the largest aerial firefighting fleet in the world. Governor Newsom recently announced that the state’s second C-130 Hercules airtanker is ready for firefighting operations

    CAL FIRE’s history with helicopters in firefighting dates back to the 1960s, when the Department first utilized choppers for reconnaissance and transport. Their versatility and ability to operate in challenging terrain led to their adoption for fire suppression in support of ground crews. 

    “The completion of our S-70i Fire Hawk fleet and the transition of all Helitack bases is thanks to the dedication of the entire CAL FIRE aviation program,” said CAL FIRE Chief and Director Joe Tyler. “This is about equipping our firefighters with the most advanced tools available to respond to the increasing complexities of wildland fires.”

    In the 1980s, CAL FIRE began its helicopter fleet with the Bell Huey, and for over four decades, the Huey has been the workhorse of the CAL FIRE Helitack program.

    The impacts of the transition to the purpose-built S-70i Fire Hawk, which began in 2018, are significant:

    • Increased water-dropping capacity: The Fire Hawk can carry nearly three times as much water as its predecessors (1000 gallons), allowing for more effective and immediate suppression efforts.
    • Enhanced night operations: Outfitted for night operations, the Fire Hawk extends CAL FIRE’s ability to fight fires around the clock, a critical advantage in containing rapidly spreading incidents. This capability proved valuable in January when CAL FIRE responded to the Palisades Fire. Multiple CAL FIRE helicopters, and partner agency aircraft, conducted crucial night operations in the Mandeville Canyon area, dropping over 375,000 gallons of water. Operating at low altitudes under night vision goggles (NVG) and navigating complex terrain and hazards such as high-tension power lines, flight crews were instrumental in halting the fire’s advance toward residential neighborhoods. Had the fire breached Mandeville Canyon, projections indicated a rapid spread toward the 405 Freeway corridor, putting hundreds of homes at risk. The combined nighttime and daylight operations ultimately prevented structural loss and showcased the value of CAL FIRE’s modernized aerial fleet and highly trained personnel in defending high-risk urban interface zones. CAL FIRE flew its first night mission with the Fire Hawk in 2022 in response to the Electra Fire.
    • Expanded crew and capabilities: With the capacity for more crew and an external permanently affixed hoist, the Fire Hawk provides greater flexibility for personnel deployment and rescue operations.
    • Improved flight safety: These state-of-the-art helicopters offer a greater degree of safety for firefighters and the community.

    Governor Newsom receives a demo of a CAL FIRE Fire Hawk simulator.

    California’s unprecedented wildfire readiness 

    As part of the state’s ongoing investment in wildfire resilience and emergency response, CAL FIRE has significantly expanded its workforce over the past five years by adding an average of 1,800 full-time and 600 seasonal positions annually – nearly double that of the previous administration. Over the next four years and beyond, CAL FIRE will be hiring thousands of additional firefighters, natural resource professionals, and support personnel to meet the state’s growing demands.

    In recent months, the Governor has announced millions of dollars in investments to protect communities from wildfire – with $135 million available for new and ongoing prevention projects and $72 million going out the door to projects across the state. This is part of over $5 billion the Newsom administration, in collaboration with the legislature, has invested in wildfire and forest resilience since 2019. Additionally, 54 new vegetation management projects spanning nearly 12,000 acres have already been fast-tracked to approval under the streamlined process provided by the Governor’s March 2025 state of emergency proclamation.

    This builds on consecutive years of intensive and focused work by California to confront the severe ongoing risk of catastrophic wildfires. New, bold moves to streamline state-level regulatory processes builds long-term efforts already underway in California to increase wildfire response and forest management in the face of a hotter, drier climate.

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  • Ancient pre-Hispanic grave unearthed under residential Lima street

    Source: Government of India

    Source: Government of India (4)

    Human remains pointing to a 1,000-year-old pre-Hispanic cemetery were unearthed in northern Lima by workers digging under the Peruvian capital to install a gas pipeline, an archaeologist told Reuters on Thursday.

    The tomb was found on a residential street just two meters (6.6 feet) from the front gate of a house.

    Jose Pablo Aliaga, an archaeologist for gas distribution firm Calidda, said the remains of a man wrapped in burial cloths alongside pottery likely pointed to a burial complex, after another body was found nearby last month.

    “The material evidence suggests that it could be a burial of the Chancay culture, from approximately 1,000 to 1,200 years ago,” said Aliaga, pointing to a coastal fishing-based civilization known for its textiles and ceramics.

    “We are probably over a pre-Hispanic cemetery, as we found another burial just around the corner from here,” he added.

    It is common for companies excavating under Lima to hire archaeologists due to the number of sites scattered in the city.

    Last month, Calidda gas workers working in the same district of Puente Piedra discovered the remains of a mummified woman, which researchers estimate are over 900 years old.

    Peru’s 10 million-strong capital hosts over 400 archaeological sites dotted around the city. Calidda has itself reported over 2,200 archaeological discoveries in the last two decades, most of them traced back to the Chancay culture.

    The South American nation is home to hundreds of archaeological sites, including the Inca citadel of Machu Picchu in the Andean region of Cusco, and the ancient Nazca lines carved into the coastal desert of its Ica region.

    (Reuters)

  • MIL-OSI Banking: Facing Earthquakes and Extremes, Asia-Pacific Deepens Disaster Cooperation Incheon, Republic of Korea | 01 August 2025 APEC Emergency Preparedness Working Group

    Source: APEC Secretariat

    A powerful earthquake off the coast of Kamchatka jolted the Asia-Pacific just hours before emergency officials from APEC economies convened in Incheon for the 21st meeting of the APEC Emergency Preparedness Working Group (EPWG), a timely reminder of how disasters can ripple across the region without warning.

    “Disasters know no borders, and they affect not only local communities but have long-term consequences for entire economies,” said Kim Gwang-yong, Vice Minister of Korea’s Ministry of the Interior and Safety, in his welcome address. “Cooperation and solidarity among APEC economies are more important than ever.”

    Vice Minister Kim highlighted Korea’s recent experiences with typhoons, heavy rainfall and wildfires, noting that the country has continuously improved its disaster management systems. 

    He also emphasized Korea’s commitment to sharing these best practices with fellow APEC economies and expanding cooperation in ICT-based early warning systems, disaster prediction models using artificial intelligence (AI), and community-centered disaster resilience strategies.

    The meeting’s agenda covered digital-based disaster risk management strategies, community leadership in disaster response and strengthening multi-layered governance. 

    Experts and officials discussed enhancing early warning systems, leveraging big data and satellite technologies and developing resilient infrastructure that can support disaster-affected communities. 

    Sessions also focused on advancing collaborative governance, bridging gaps in disaster risk management, and preparing communities for emerging risks.

    EPWG co-chair Dayra Carvajal of the United States Federal Emergency Management Agency, urged members to recognize the compounding risks affecting the region’s interconnected systems. 

    “From devastating earthquakes to wildfires and catastrophic flooding, this year has once again underscored the interconnected impacts of disasters in Asia-Pacific,” she said. “These compounding stressors that ripple through shared infrastructure remind us that events in one economy are frequently felt elsewhere.”

    “This year, we must endeavor to identify concrete and practical ways in which to strengthen the systems that sustain regional economic growth and prosperity: our infrastructure, markets and supply chains.”

    The agenda featured project updates and best practice exchanges by member economies including on topics such as disaster risk prediction and whole-community preparedness in urban, coastal and inland areas. Delegates examined how to bridge gaps in early warning systems, scale agile and adaptable governance across central and local levels and enable technology-driven disaster leadership.

    “The more we prepare, the more we can reduce disaster damage. And the more we cooperate, the stronger our response can become,” Vice Minister Kim concluded.

    Looking ahead, the group emphasized that continued collaboration under the newly launched EPWG Strategic Plan 2025–2027 will be essential to turn this momentum into durable systems of protection and preparedness. 

    The EPWG meeting is a key platform for promoting APEC’s vision of a resilient and prosperous future, with discussions expected to result in actionable policies and collaborative projects that can mitigate disaster risks, enhance regional preparedness and protect the lives and livelihoods of the 2.9 billion people who call the APEC region home.


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

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  • Japanese banks’ investments in India growing stronger: Envoy

    Source: Government of India

    Source: Government of India (4)

    Japanese Ambassador to India, Ono Keiichi, on Friday said he had a detailed conversation with Reserve Bank of India (RBI) Governor Sanjay Malhotra on the expanding role of Japanese banks in India’s economy.

    In a post on social media platform X (formerly Twitter), the envoy highlighted that the meeting focused on the expansion of Japanese banks’ investments in India and how they are increasingly contributing to the country’s economic growth.

    “Honoured to meet Sanjay Malhotra, Governor of the Reserve Bank of India (RBI). We had an engaging discussion on the expansion of Japanese banks’ investments in India and their growing contribution to the Indian economy,” Keiichi said on X.

    The meeting comes as India and Japan continue to deepen their Special Strategic and Global Partnership, with greater emphasis on trade, investment, and financial cooperation.

    In recent years, Japanese financial institutions have expanded their footprint in India, supporting infrastructure projects, industrial growth, and business collaborations.

    Earlier, senior officials from both nations reaffirmed the importance of strengthening bilateral ties ahead of Prime Minister Narendra Modi’s scheduled visit to Japan later this year.

    During a high-level dialogue in the national capital on July 28, Indian Foreign Secretary Vikram Misri and Japan’s Vice-Minister for Foreign Affairs Takehiro Funakoshi agreed to enhance cooperation in security, economy, and people-to-people exchanges, while working closely within frameworks such as the Japan-US-Australia-India partnership to promote a Free and Open Indo-Pacific.

    “At the Japan-India Vice-Ministerial Dialogue, the two Secretaries confirmed that, in anticipation of Prime Minister Modi’s visit to Japan scheduled for this year, they would work to strengthen bilateral relations in a wide range of areas, including security, economy, and people-to-people exchanges, and would further cooperate, including within the Japan-US-Australia-India framework, towards the realization of a Free and Open Indo-Pacific,” read a statement issued by Japan’s Ministry of Foreign Affairs on the evening of July 28.

    “In addition to bilateral relations, the two Secretaries also exchanged views on regional situations and agreed to continue to cooperate closely. During the exchange of views with Mishra, Principal Secretary to the Prime Minister’s Office, the two sides discussed various aspects of bilateral relations,” it added.

    —IANS

  • PM National Dialysis Programme expanded to 751 districts across India

    Source: Government of India

    Source: Government of India (4)

    The Government of India has significantly expanded the reach of the Pradhan Mantri National Dialysis Programme (PMNDP), with the initiative now operational across all 36 States and Union Territories, covering 751 districts. As of June 30, a total of 1,704 dialysis centres are functional under the programme.

    The information was shared by Union Minister of State for Health and Family Welfare, Prataprao Jadhav, in a written reply in the Lok Sabha today.

    The PMNDP is being implemented under the National Health Mission (NHM) to provide free dialysis services to patients suffering from end-stage kidney failure. The programme supports both Haemodialysis and Peritoneal Dialysis services. According to the Ministry, the rollout and expansion of dialysis services are based on gap assessments conducted by States and UTs as part of their annual Programme Implementation Plans.

    Initially, the Government recommended the setting up of haemodialysis centres in all district hospitals. Based on local requirements, States have been encouraged to scale down the facilities to Community Health Centres (CHCs) at the taluka level, especially in remote and tribal regions.

    The NHM provides financial assistance to States and UTs for establishing and operating dialysis centres to ensure equitable access to kidney care services for all, regardless of geography.

  • MIL-OSI Banking: APEC Disaster Officials Rally for Joint Action as Regional Risks Escalate Incheon, Republic of Korea | 01 August 2025 Issued by the APEC Senior Disaster Management Officials’ Forum From climate extremes and aging populations to rapid urbanization, the region’s risk landscape is growing more multifaceted, outpacing the capacity of any single economy to respond alone.

    Source: APEC – Asia Pacific Economic Cooperation

    As disasters grow more frequent and complex across the Asia-Pacific, senior officials from APEC member economies convened in Incheon for the 2025 APEC Senior Disaster Management Officials’ Forum (SDMOF), calling for urgent, collective action to reduce disaster risks and protect lives.

    The forum, held under the theme “Advancing Disaster Risk Reduction in Asia-Pacific: Partnerships for a Resilient and Prosperous Future,” focused on strengthening coordination and resilience in the face of increasingly complex threats. From climate extremes and aging populations to rapid urbanization, the region’s risk landscape is growing more multifaceted, outpacing the capacity of any single economy to respond alone.

    “Disasters today cross borders and present transboundary risks that demand collective responses across the APEC region,” said Park Cheon-soo, Director General of the Ministry of the Interior and Safety, Republic of Korea. “In this context, solidarity and cooperation among member economies, in other words, partnership, is no longer optional, but a prerequisite for effective disaster risk reduction.”

    Director General Park urged delegates to move beyond disaster recovery and invest in systems that prevent and mitigate risk. 

    Throughout the forum, officials engaged in crucial policy session on emerging risks, early warning systems, multi-layered governance and technology for disaster leadership. 

    Officials also discussed the fundamental concept, different types and management strategies regarding emerging risks. They also explored to better mobilize private sector capabilities and harnessing emerging technologies to strengthen multi-level governance and leadership during disaster response. 

    In his closing remarks, Director General Park acknowledged the progress made in disaster preparedness and response, but emphasized that future challenges require renewed ambition and high-level commitment. 

    He called on each member economy to develop whole-of-society implementation capabilities aligned with their priorities and domestic contexts, foundations essential for the region’s prosperity. 

    Director General Park also reaffirmed Korea’s commitment to sharing expertise and resources, including advances in ICT-based early warning systems and integrated disaster management.

    Officials emphasized the need to translate the forum’s discussions into concrete actions and deeper collaboration, positioning the dialogue as a springboard for future progress.

    “Disaster risk reduction is not only about enhancing our ability to respond to disasters, but also crucial for ensuring prosperity across economic, social and environmental dimensions,” Director General Park concluded. “Trust-based cooperation among APEC economies is essential for advancing disaster risk reduction.”


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

    MIL OSI Global Banks

  • MIL-OSI Banking: Secretary-General of ASEAN welcomes the President of the Democratic Republic of Timor-Leste to the ASEAN Headquarters/ASEAN Secretariat

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today warmly welcomed H.E. José Ramos-Horta, President of the Democratic Republic of Timor-Leste to the ASEAN Headquarters/ASEAN Secretariat.
     
    The event commenced with the signing of guestbook and will be followed by an Interface between the President of the Democratic Republic of Timor-Leste and the Secretary-General of ASEAN, the Committee of Permanent Representatives to ASEAN (CPR), and the Ambassador of Timor-Leste to ASEAN, and the delivery of a Policy Speech. The Policy Speech will be attended by members of the diplomatic corps in Jakarta, representatives of ASEAN-associated entities, academia and think tanks, business leaders, and staff members of the ASEAN Secretariat.

    The post Secretary-General of ASEAN welcomes the President of the Democratic Republic of Timor-Leste to the ASEAN Headquarters/ASEAN Secretariat appeared first on ASEAN Main Portal.

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  • MIL-OSI Banking: President of the Democratic Republic of Timor-Leste holds Interface with Secretary-General of ASEAN and the Committee of Permanent Representatives to ASEAN

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, together with the Committee of the Permanent Representatives to ASEAN (CPR) and the Ambassador of Timor-Leste to ASEAN, held an Interface with H.E. José Ramos-Horta, President of the Democratic Republic of Timor-Leste, at the ASEAN Headquarters/ASEAN Secretariat.
     
    The Interface underscored Timor-Leste’s unwavering commitment to the work of ASEAN, particularly towards ASEAN Community-building and regional integration efforts. Secretary-General Dr. Kao reaffirmed the ASEAN Secretariat’s support to Timor-Leste in its efforts to be the 11th member of ASEAN in October of this year.

    The post President of the Democratic Republic of Timor-Leste holds Interface with Secretary-General of ASEAN and the Committee of Permanent Representatives to ASEAN appeared first on ASEAN Main Portal.

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  • MIL-Evening Report: ‘Glorious’ sisters showcase Auckland’s Polynesian experiences for tourists

    By Torika Tokalau, Local Democracy Reporter

    The sisters running Auckland’s first authentic Polynesian show for tourists say it’s not just for visitors, but also to help uplift Pacific people.

    Louisa Tipene Opetaia and Ama Mosese’s Glorious Tours was pooled as one of 10 new “Treasures of Tāmaki Makaurau”: a go-to guide by Tātaki Auckland Unlimited (TAU) for local Māori tourism.

    Their tour tells the story of how Auckland became the biggest Polynesian city in the world, and often starts with a drop in at a Pacific or Māori-owned cafe, a guided hīkoi up the Māngere mountain, hangi lunch, a haka show at the museum, then end with a kava-drinking experience.

    LOCAL DEMOCRACY REPORTING

    The tour, which has been running for a year, aims to give visitors an Auckland experience through local eyes, with Māori-led journeys and dining events.

    Opetaia said before they started their tour, tourists were travelling to Rotorua for a Pacific cultural experience.

    The only other regular Polynesian show for tourists in Auckland was at Auckland Museum, where there was a daily haka show.

    “We have rich culture gold in south Auckland,” she said.

    “All tourists fly here, in our backyard and we wanted to offer them something right here.”

    The sisters, who are of Māori and Samoan heritage, call themselves “cultural connectors”.

    ‘The space was lacking’
    “We’ve been working for these other companies for some time, some of them not even New Zealand-owned. And we felt we were the face of these companies but behind the scenes it wasn’t a local or Māori or indigenous business.

    “We decided to step into this space that we saw was lacking, and offer authentic indigenous cultural experiences here in Tāmaki Makaurau — the biggest Polynesian city in the world.”

    Glorious Tours is based out of Naumi Hotel, near the Auckland Airport in Māngere.

    “We tailor it to what they want, so if they like shopping we take them to places where they can buy authentic Pacific goods, or we take them to our local gallery in Māngere.

    This month, the sisters will launch a Polynesian dinner and dance show in Māngere, featuring local schools.

    “It’s not just for the tourists, it’s for our own people. Our kaupapa is to uplift our local people, especially our rangatahi.”

    TAU director of Māori outcomes Helen Te Hira said Treasures of Tāmaki Makaurau plays a vital role in ensuring Māori culture, businesses and leadership are central to the way Tāmaki Makaurau is experienced by visitors.

    “Every business on this platform brings something unique — a sense of purpose, cultural depth and creative excellence.”

    LDR is local body journalism co-funded by RNZ and NZ On Air. Asia Pacific Report is a partner.

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Bloodshed at GHF-run Gaza aid sites ‘a great sin’, says former top UN official

    Asia Pacific Report

    A former senior UN aid official has condemned the bloodshed at the notorious US and Israel-backed Gaza Humanitarian Foundation’s aid food depots, describing the distribition system as having turned into a “catastrophe”.

    The number of aid seekers killed continues to climb daily beyond 1000.

    Martin Griffiths, director of Mediation Group International and the former Under Secretary General of the UN Humanitarian Affairs Office, said: “I think when many of us saw the first plans of the GHF to launch this operation in Gaza, we were immediately appalled by the way they were proposing to manage it.”

    “It was clearly militarised. They’d have their own security contractors,” he told Al Jazeera.

    “They’d have [Israeli military] camps placed right beside them. We know now that they are, in fact, under instructions by [the Israeli military].

    “All of this is a crime. All of this is a deep betrayal of humanitarian values.

    “But what I at least did not sufficiently anticipate was the killing and was the absolutely critical result of this operation, this sole humanitarian operation allowed by Israel in Gaza,” Griffiths added.

    “The 1000 killed are an incredible statistic. I had no idea it would go that high and it’s going on daily. It’s not stopping.

    “I think it’s a catastrophe more than a disappointment,” he said. “I think it’s a great sin. I think it’s a great crime.”

    Humanitarian aid advocate Martin Griffiths . . . We know now that [GHF] are, in fact, under instructions by [the Israeli military]. All of this is a crime.” Image: Wikipedia

    Commenting about US envoy Steve Witkoff and US ambassador to Israel Mike Huckabee’s planned visit to GHF-run aid distribution sites in Gaza, he said this was “likely to be choreographed”.

    However, he acknowledged it was still an “important form of witness”.

    “I’m glad that they’re going,” Griffiths said.

    “Maybe they will see things that are unexpected. I can’t imagine because we’ve seen so much. But I don’t see it leading to a major change.

    “If I was one of the two million Gazans starving to death, this is a day I would like to go to an aid distribution point,” Griffiths added.

    “There’s slightly less risk probably than any other day.”

    MIL OSI AnalysisEveningReport.nz

  • Indian stock markets end lower as India-US trade deal stalls

    Source: Government of India

    Source: Government of India (4)

    Indian stock markets ended in negative territory on Friday after the announcement of fresh tariffs by the United States on imports from India. The 25 per cent tariff declaration by US President Donald Trump impacted investor sentiment, leading to broad-based selling across sectors.

    The BSE Sensex declined by 585.67 points or 0.72 per cent to close at 80,599.91. The index opened lower at 81,074.41 and continued to face pressure throughout the session, touching an intra-day low of 80,495.57. The NSE Nifty also witnessed a decline of 203 points or 0.82 per cent, ending at 24,565.35.

    Major drag was seen in the Pharma, IT, and Auto sectors. Stocks such as Tata Steel, Maruti Suzuki, Infosys, Tata Motors, Tech Mahindra, Bharti Airtel, BEL, Bajaj FinServ, ICICI Bank, HCL Tech, Mahindra and Mahindra, and TCS were among the top losers on the Sensex. However, select stocks like Trent, Asian Paints, Hindustan Unilever, and ITC ended the session in green.

    On the sectoral front, Nifty Pharma declined 3.33 per cent, followed by Nifty IT which was down 1.85 per cent, and Nifty Auto which slipped 1.04 per cent. Nifty Bank ended 0.62 per cent lower. Meanwhile, Nifty FMCG bucked the trend to close in green with a gain of 384 points.

    The broader market also mirrored the benchmark indices. Nifty Midcap 100 fell by 1.33 per cent, Nifty Smallcap 100 declined by 1.66 per cent, and Nifty 100 ended 0.91 per cent lower.

    According to market analysts, the markets extended their corrective phase amid concerns over global trade tensions and ongoing foreign fund outflows. “Markets continue to grapple with a mixed earnings season, while the recent tariff announcement and persistent foreign fund outflows are further weighing on sentiment,” said Ajit Mishra, SVP, Research, Religare Broking Ltd.

    Technical analysts also cautioned about key support levels. “A further decline is likely if Nifty slips below 24,400. On the upside, resistance is expected at 24,600–24,650 and 24,850,” said Rupak De, Senior Technical Analyst at LKP Securities.

    -IANS

  • India Post Payments Bank launches Aadhaar-based face authentication for digital transactions

    Source: Government of India

    Source: Government of India (4)

    The India Post Payments Bank (IPPB) on Friday announced the nationwide rollout of Aadhaar-based face authentication for customer transactions, a move aimed at enhancing ease of access and financial inclusion for the elderly, differently-abled and those facing biometric authentication issues.

    Developed under the framework of the Unique Identification Authority of India (UIDAI), the feature enables customers to carry out banking services using facial recognition, eliminating the need for physical biometrics like fingerprints or one-time passwords (OTPs).

    “This is not just a technological enhancement but a commitment to dignified and inclusive banking,” said IPPB Managing Director and CEO R Viswesvaran. “With Aadhaar-based face authentication, we are ensuring that no customer is left behind due to limitations in fingerprint or OTP-based verification.”

    The feature supports a range of services including account opening, balance inquiries, fund transfers, and utility payments. It is expected to make banking faster, contactless, and safer—especially during health emergencies where physical contact poses risks.

    The IPPB said the new authentication system aligns with the government’s Digital India and Financial Inclusion missions. Customers across rural and urban India will benefit, particularly those with worn-out fingerprints or limited access to smartphones.

    The bank, established in 2018 under the Department of Posts, Ministry of Communications, operates through a vast network of around 1.65 lakh post offices and over 3 lakh postal employees. Its digital model leverages India Stack technologies to offer paperless and presence-less banking services at the doorstep, serving over 11 crore customers across 5.57 lakh villages and towns.

  • MIL-OSI Submissions: Trade – Trump’s tariffs cement new multipolar global economy: deVere CEO

    Source: deVere Group

    August 1 2025 – Donald Trump’s sweeping new tariffs are not just reshaping global trade – they are accelerating the rise of a multipolar global economy.

    The shift away from a US-dominated system is no longer theoretical, it is active and accelerating.

    “Multipolarity now defines the direction of global trade,” says Nigel Green, CEO of deVere Group, one of the world’s largest independent financial advisory and asset management organizations.

    “These tariffs are forcing countries to rewire their trade, capital, and strategic priorities. The world is moving toward multiple centres of economic power and influence.”

    Effective August 7, the US will impose tariffs on nearly every major trading partner.

    Countries running a trade deficit with the US face a 15% floor. Canada has been hit with 35%. Brazil, 50%.

    India now faces a 25% rate, alongside a financial penalty for continuing energy and defence ties with Russia—despite being positioned by Trump as a close ally.

    “India’s inclusion shows how quickly partners can become pressure points. This pressure is already nudging New Delhi toward deeper cooperation with trade rival Beijing. The consequences will be long-term.”

    While trade deals with China and Mexico remain under negotiation, the broader international response is already unfolding.

    “Beijing, Moscow, and increasingly Delhi are coordinating more closely on trade, infrastructure and investment. Long-time allies like Switzerland and Taiwan are reassessing risk. Many governments are seeking to reduce exposure to Washington’s economic leverage altogether.

    “This isn’t a rerun of past trade disputes. It is a global shift away from reliance on the US as the central node. New trade networks are forming by necessity, not necessarily by preference.”

    Diplomatic talks with China have intensified in recent months, with meetings in Geneva, London and Stockholm.

    Beijing is focused on securing a continued freeze on US semiconductor export controls. Washington is demanding action on fentanyl, greater access for American firms, and increased Chinese purchases of US goods. But the real story lies beyond the negotiating table.

    “Tariffs are being baked in as permanent features of the new economic order. Countries are responding by building systems that can operate without US permission.”

    The US tariff list now stretches across continents. Switzerland faces 39%. South Africa, Libya, Algeria, Serbia, and several others between 30% and 41%. Taiwan, Israel, Pakistan, and Norway are all in the 15–20% range. The sweep is deliberate—and global.

    “Markets are adjusting. Capital is shifting. Supply chains are realigning around regional strength, not global scale.”

     

    Nigel Green continues: “The dollar remains dominant, but its influence is no longer unchallenged.

    “Central banks are pursuing alternatives. Reserve diversification is accelerating. Regional trading blocs are pushing forward with new payments infrastructure, less reliant on Washington’s rules.

    “This fragmentation is the new baseline. The post-war consensus on trade and financial cooperation is fading. What replaces it is a world of multiple economic power and influence centres, each with their own rules and reach.”

    For investors, the implications are direct. Correlations are weakening. Policy risk is climbing. Exposure to geopolitical realignment is no longer abstract, it’s active.

    “Anyone still expecting a return to the old system is behind the curve. This is the direction of travel now. Global trade will be multipolar. Capital allocation must reflect that.”

    The deVere CEO concludes: “It locks in a new world order where influence is distributed, and alignment is increasingly transactional. For global investors, it marks the start of a generation-defining realignment.

    “From here, economic and trade power is going to become more fragmented—and competition for it more intense.”

    deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

    MIL OSI – Submitted News

  • CEO Tim Cook says Apple ready to open its wallet to catch up in AI

    Source: Government of India

    Source: Government of India (4)

    Apple CEO Tim Cook signaled on Thursday the iPhone maker was ready to spend more to catch up to rivals in artificial intelligence by building more data centers or buying a larger player in the segment, a departure from a long practice of fiscal frugality.

    Apple has struggled to keep pace with rivals such as Microsoft  and Alphabet’s Google, both of which have attracted hundreds of millions of users to their AI-powered chatbots and assistants. That growth has come at a steep costhowever, with Google planning to spend $85 billion over the next year and Microsoft on track to spend more than $100 billion, mostly on data centers.

    Apple, in contrast, has leaned on outside data center providers to handle some of its cloud computing work, and despite a high-profile partnership with ChatGPT creator OpenAI for certain iPhone features, has tried to grow much of its AI technology in-house, including improvements to its Siri virtual assistant. The results have been rocky, with the company delaying its Siri improvements until next year.

    During a conference call after Apple‘s fiscal third-quarter results, analysts noted that Apple has historically not done large deals and asked whether it might take a different approach to pursue its AI ambitions. CEO Cook responded that the company had already acquired seven smaller companies this year and is open to buying larger ones.

    “We’re very open to M&A that accelerates our roadmap. We are not stuck on a certain size company, although the ones that we have acquired thus far this year are small in nature,” Cook said. “We basically ask ourselves whether a company can help us accelerate a roadmap, and if they do, then we’re interested.”

    Shares of the company were up 1.7% in premarket trading on Friday.

    Apple has tended to buy smaller firms with highly specialized technical teams to build out specific products. Its largest deal ever was its purchase of Beats Electronics for $3 billion in 2014, followed by a $1 billion deal to buy a modem chip business from Intel.

    But now Apple is at a unique crossroads for its business. The tens of billions of dollars per year it receives from Google as payment to be the default search engine on iPhones could be undone by U.S. courts in Google’s antitrust trial, while startups like Perplexity are in discussions with handset makers to try to dislodge Google with an AI-powered browser that would handle many search functions.

    Apple executives have said in court they are considering reshaping the firm’s Safari browser with AI-powered search functions, and Bloomberg News has reported that Apple executives have discussed buying Perplexity, which Reuters has not independently confirmed.

    Apple also said on Thursday it plans to spend more on data centers, an area where it typically spends only a few billion dollars per year. Apple is currently using its own chip designs to handle AI requests with privacy controls that are compatible with the privacy features on its devices.

    Kevan Parekh, Apple‘s chief financial officer, did not give specific spending targets but said outlays would rise.

    “It’s not going to be exponential growth, but it is going to grow substantially,” Parekh said during the conference call.

    “A lot of that’s a function of the investments we’re making in AI.”

    -REUTERS

  • President Murmu graces 45th convocation of IIT (ISM) Dhanbad, urges graduates to lead with compassion and innovation

    Source: Government of India

    Source: Government of India (4)

    President Droupadi Murmu attended the 45th convocation ceremony of the Indian Institute of Technology (Indian School of Mines), Dhanbad on Friday, commending the institute’s nearly century-long legacy and its contribution to national development through education, research, and innovation.

    Addressing the gathering, President Murmu lauded IIT (ISM) Dhanbad for its transformation from a premier institution in mining and geology to a multidisciplinary hub of higher learning and technological advancement. She noted that the institute has nurtured a strong academic ecosystem aligned with the needs and aspirations of society.

    “IIT (ISM) has an important role in the holistic development of the country. Beyond producing skilled engineers and researchers, it must foster professionals who are compassionate, sensitive, and purposeful,” she said.

    Highlighting the growing challenges facing the nation and the world—including climate change, resource scarcity, digital disruption, and social inequality – the President called for leadership from premier institutions like IIT-ISM in developing sustainable and innovative solutions.

    She also emphasized India’s potential to emerge as a technological superpower, driven by its vast human resources and the rapid spread of digital skills. “To harness the full potential of our youth, we must ensure our education system is practical, innovation-oriented, and aligned with industry needs,” she said.

    President Murmu underscored the importance of cultivating a “patent culture” alongside strengthening research, development, and start-up ecosystems. She advocated for an interdisciplinary approach in education to nurture holistic thinking and creativity among students.

    Urging graduates to go beyond personal success, the President called on them to use their knowledge for the greater public good. “Build a stronger and more just India—where progress is inclusive – and a greener India – where development respects the environment,” she said. “Let your actions reflect not just intelligence, but empathy, ethics, and excellence. Innovation driven by compassion is what truly transforms the world.”

  • MIL-OSI Russia: Russia Presents Report on Application of Space Technologies to Monitor Greenhouse Gases at APEC

    Translation. Region: Russian Federal

    Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

    An important disclaimer is at the bottom of this article.

    The Department of Multilateral Economic Cooperation and Special Projects of the Ministry of Economic Development of the Russian Federation has prepared a report entitled “Monitoring Greenhouse Gas Emissions in APEC: Space Solutions.” The document is posted on the official website the Asia-Pacific Economic Cooperation (APEC) forum. The report reflects the key findings and recommendations of the international expert roundtable, which took place on March 14, 2025 under the auspices of the Ministry of Economic Development of Russia.

    The report is a systematic review of the practices of using satellite technologies in climate monitoring with an emphasis on the potential for their scaling in the Asia-Pacific region. The document collects key recommendations from international organizations. In particular, the United Nations Office for Outer Space Affairs, the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), as well as the public sector, academic and business communities of APEC member economies, including Russia, Indonesia and Thailand.

    “Satellite technologies are becoming an integral element of climate architecture. Their use ensures the objectivity, efficiency and reproducibility of climate data, especially in conditions where traditional ground infrastructure is limited or unavailable. Russia is consistently developing a climate monitoring system that combines satellite, air and ground tracking methods with advanced computational models. Dialogue at the APEC platform allows us not only to develop high-quality international expertise, but also to strengthen trust between the economies of the region,” commented Evgeniya Drozhashchikh, Deputy Director of the Department of Multilateral Economic Cooperation and Special Projects of the Ministry of Economic Development of Russia.

    The materials of the round table present advanced solutions in the field of remote sensing of the Earth, methods of their integration into national greenhouse gas emission inventory systems, approaches to the unification of methodologies, as well as legal and technological aspects of climate data exchange.

    Given that APEC economies account for more than 60% of global CO2 emissions, the issue of creating a transparent and scientifically based monitoring system is becoming fundamental to achieving international climate goals. Satellite data allows not only to map emission hot spots, but also to track their dynamics in the long term.

    The prepared report will serve as a basis for further work by APEC economies to develop technological cooperation and introduce space solutions into national climate management systems.

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

    .

    MIL OSI Russia News

  • MIL-OSI Russia: Peking University’s Belt and Road Research Institute Opens in Xinjiang

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    URUMQI, Aug. 1 (Xinhua) — The opening ceremony of the Belt and Road Research Institute of Peking University-Xinjiang was held in Kashgar, northwest China’s Xinjiang Uygur Autonomous Region, on Friday. The establishment of the institute is aimed at further and thorough promotion of the joint construction of the Belt and Road, promoting high-quality development in Xinjiang and building a new pattern of opening up to the outside world in the region.

    Vice Chairman of the Xinjiang Uygur Autonomous Region People’s Government and Secretary of the Kashgar Prefecture Party Committee Nie Zhuang delivered a speech at the event, saying that the establishment of the research institute is of great significance for both Xinjiang and Kashgar.

    “I am confident that the institute will promote the integrated development of education, science and technology, as well as the training of highly qualified personnel in the region, accelerate the transformation of Kashgar into a springboard for opening up to the West, and promote modernization in Xinjiang,” he said.

    Piao Shilong, vice-president of Peking University, said the university attaches great importance to the construction of the institute, integrating interdisciplinary advantages and implementing a new model of establishing research institutes away from the home campus.

    “In the future, the institute will conduct in-depth research in key areas such as energy and mineral resources, ecological environment, regions and countries, historical archaeology, strengthening the consciousness of the Chinese nation and new structural economy,” Piao Shilong added.

    He also noted that the institute will strive to provide reliable scientific, technological and intellectual support for the high-quality development of Xinjiang and build it into a leading talent pool and innovation hub covering Central and South Asia and countries participating in the Belt and Road Initiative. -0-

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

    .

    MIL OSI Russia News

  • MIL-OSI Asia-Pac: CS meets I&T stakeholders

    Source: Hong Kong Information Services

    The Committee on Education, Technology & Talents (CETT), led by Chief Secretary Chan Kwok-ki, met stakeholders in the innovation and technology (I&T) sector today to discuss promoting the integrated development of education, technology and talent.

    At the meeting, Mr Chan introduced the CETT’s work plan to representatives from I&T parks, I&T enterprises and State Key Laboratories.

    He told them that the CETT, building on the “eight centres” concept, is dedicated to cultivating and attracting talent, and aims to leverage talent chains, innovation chains, industrial chains and capital chains to drive technological and industrial innovation, with a view to advancing high-quality development and accelerating Chinese modernisation.

    On the theme of attracting high-quality I&T talent, he said the CETT will lead the I&T sector in revamping its positioning and planning. Specifically, the committee will enhance the Technology Talent Admission Scheme, and introduce arrangements under the Quality Migrant Admission Scheme to bring sought-after talent to Hong Kong.

    Attendees were also briefed on the Government’s establishment of a new I&T system that takes the city’s “three major I&T parks and five key research and development institutes” as its framework, and on various other initiatives to enhance the I&T ecosystem and enlarge the local I&T talent pool.

    Mr Chan said: “The Government will continue to take forward the development under the principle of ‘promoting technology with talent, leading industries with technology, and attracting talent with industries’.

    “The Government will also grasp the opportunities arising as the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone enters its operational phase soon and continue to expedite the development of I&T industries, to provide development opportunities for local I&T talent as well as those coming to Hong Kong.”

    He added that the Government will make good use of existing talent admission schemes to promote Hong Kong as a focal point for international high-calibre talent, contributing to the I&T development of both Hong Kong and the country at large.

    Secretary for Innovation, Technology & Industry Prof Sun Dong, Secretary for Education Choi Yuk-lin and Acting Secretary for Labour & Welfare Ho Kai-ming also attended today’s meeting. Prof Sun and Mr Ho briefed the stakeholders on the Government’s ongoing efforts and measures to attract I&T talent.

    I&T stakeholders at the meeting expressed support for the committee’s work and said they will work with the Government to leverage industry resources in attracting global talent.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Govt rejects EU’s slanderous remarks

    Source: Hong Kong Information Services

    The Hong Kong Special Administrative Region Government strongly opposes and disapproves of the European Union’s (EU) slanderous remarks on the Hong Kong SAR’s lawful act to pursue wanted persons who have endangered national security and absconded from the city.

     

    In a statement today, the Hong Kong SAR Government strongly demands that the EU immediately stop acting against international law and basic norms of international relations, and stop interfering in Hong Kong matters which are purely China’s internal affairs.

     

    It emphasised that endangering national security is a very serious offence, adding that no country will watch with folded arms on acts and activities that endanger national security.

     

    It also noted that the “Hong Kong Parliament” is an organisation that aims to subvert state power. Its objectives include promoting “self-determination” and promulgating the so-called “Hong Kong Constitution”; and overthrowing or undermining the People’s Republic of China’s (PRC) basic system established by the PRC Constitution or overthrowing the PRC’s body of central power or the Hong Kong SAR’s body of power with unlawful means.

     

    As such, the organisation is suspected of committing the offence of subversion contrary to Article 22 of the Hong Kong National Security Law (HKNSL).

     

    Hence, Police applied to the court for arrest warrants in accordance with the law and placed the persons on a wanted list.

     

    The Hong Kong SAR Government said that any suggestion that certain individuals or organisations should be immune from legal consequences for their illegal acts, including those involving collusion with foreign or external forces, is no different from advocating a special privilege to break the law.

     

    This totally runs contrary to the spirit of the rule of law, it added.

     

    Extraterritorial effect for offences under the HKNSL and the Safeguarding National Security Ordinance (SNSO) fully aligns with the principles of international law, international practice and common practice adopted in various countries and regions. It is both necessary and legitimate, and is also in line with those of other countries and regions around the world.

     

    As the Hong Kong SAR’s law enforcement department safeguards national security, Police are duty-bound to pursue the liability of those who have allegedly endangered national security outside Hong Kong.

     

    Those absconders hiding outside Hong Kong are wanted because they continue to blatantly engage in activities endangering national security. Moreover, they continue to collude with external forces to cover for their evil deeds.

     

    It is necessary for Police to take all lawful measures to strongly combat the acts of abscondment, and such actions are fully justified, necessary and legitimate, the Hong Kong SAR Government pointed out.

     

    It stressed that both the HKNSL and the SNSO clearly stipulate that human rights shall be respected and protected in safeguarding national security in the Hong Kong SAR.

     

    The rights and freedoms enjoyed by Hong Kong people under the Basic Law and the provisions of the International Covenant on Civil & Political Rights (ICCPR) and the International Covenant on Economic, Social & Cultural Rights as applicable to the Hong Kong SAR are protected in accordance with the law.

     

    Nonetheless, just as in other places in the world, many of the rights and freedoms are not absolute. The ICCPR also expressly states that certain rights and freedoms including the freedom of expression may be subject to restrictions as prescribed by law that are necessary for the protection of national security, public safety, public order, and the rights and freedoms of others.

     

    Regarding an extremely small minority of organisations and individuals endangering national security, the Hong Kong SAR Government said that it will not condone their criminal acts and will not give up pursuing them, including adopting all practical measures to bring those fugitives endangering national security who have absconded from Hong Kong to justice.

     

    It reiterated that absconders should not think they can evade criminal liability by absconding from Hong Kong. Ultimately, they will be held liable for their acts constituting serious offences endangering national security and be punished by the law. No country or organisation should harbour criminals nor try to exonerate these people with different excuses.

     

    The Hong Kong SAR Government made it clear that it will, as always, resolutely, fully and faithfully implement the HKNSL, the SNSO and other relevant laws safeguarding national security in the city, to effectively prevent, suppress and impose punishment for acts and activities endangering national security in accordance with the law, while upholding the rights and freedoms of Hong Kong people in accordance with the law, in order to ensure the steadfast and successful implementation of the principle of “one country, two systems”.

    MIL OSI Asia Pacific News

  • Toxic metals found in Himalayan clouds, pose health risk: study

    Source: Government of India

    Source: Government of India (4)

    A new scientific study has found that clouds drifting over the Eastern Himalayas and Western Ghats are carrying toxic heavy metals, posing potential carcinogenic and non-carcinogenic health risks, especially to children.

    The study, conducted by the Bose Institute—an autonomous body under the Department of Science and Technology (DST),  Ministry of Science & Technology , Government of India—found that clouds over the Eastern Himalayas contain 1.5 times higher pollution levels than those over the Western Ghats. This is largely due to emissions from heavy vehicular traffic and industrial activity in the foothill regions, the report noted.

    The research team, led by Dr. Sanat Kumar Das, Associate Professor at Bose Institute, detected harmful concentrations of cadmium (Cd), chromium (Cr), copper (Cu), and zinc (Zn) in non-precipitating clouds during the onset of the monsoon season. These clouds were found to be a major medium of long-range transport of pollutants from the lowlands to high-altitude regions.

    “The inhalation of cloud water laced with dissolved heavy metals is a significant exposure pathway, particularly in the Eastern Himalayas. This poses high health risks, especially among children, who are 30% more vulnerable than adults,” said Dr. Das.

    Published in the journal Environmental Advances, the study used statistical models to assess health risks through multiple exposure routes, including inhalation, ingestion, and dermal absorption. It found that the presence of carcinogenic metals like dissolved chromium in the cloud water notably raises the likelihood of developing cancer and other health issues.

    Despite the concerning findings, researchers noted that Indian clouds remain relatively less polluted compared to countries like China, Pakistan, Italy, and the United States. However, they cautioned that rising pollution levels and the lack of prior data on metal contamination in monsoon clouds make this an emerging public health concern.

    The study challenges long-held assumptions about the purity of mountain rainwater and opens a new avenue for atmospheric and health-related research in the region.

  • MIL-OSI: Bitget Surges to 7.2% Global Derivatives Market Share, Ranks Top 3 Highlights Bitcoin.com Report

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Aug. 01, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, today co-releases with Bitcoin.com an educational flagship titled “Crypto Derivatives 101 – Market Breakdown: Who’s Winning the Race?” designed to help newcomers navigate the fast-growing derivatives market, the guide also highlights Bitget’s leadership as its market share doubles to 7.2% in 2025, up from 4.6% year‑to‑date.

    As detailed in the newly released report, Bitget has emerged as the third-largest derivatives exchange globally by trading volume. In April 2025 alone, the platform processed $92 billion in futures volume. Bitget’s market share rose from 4.6% at the beginning of the year to 7.2%, placing it just behind Binance and OKX. While Binance continues to lead with a 38% share, Bitget’s rapid ascent reflects both strong retail engagement and increasing institutional preference, particularly for ETH-based derivatives, where Bitget has surpassed Binance in liquidity within key trading ranges.

    “We believe educational access is foundational,” said Gracy Chen, CEO at Bitget. “Crypto derivatives have often been misunderstood or seen as overly complex, especially by new users. With this guide, we aim to change that. We want to make sure that both retail and institutional users feel empowered to understand, navigate, and leverage the powerful tools available to them. Bitget is proud to be leading this industry with a user-first approach, backed by AI-powered tools, liquidity innovations, and a commitment to transparency and accessibility.”

    The Crypto Derivatives 101 report serves as a practical, beginner-friendly guide to understanding how derivatives work and why they matter in today’s markets. It breaks down core instruments such as futures, options, and perpetual swaps, while explaining how these tools are used for hedging, speculation, and arbitrage.

    A standout feature of the report is a comprehensive comparison of centralized (CEX) and decentralized (DEX) perpetual markets, weighing factors like liquidity, slippage, fees, execution speed, and custody. Bitget, Binance, and OKX are shown to lead in areas like liquidity depth and institutional readiness, while platforms like GMX and Hyperliquid offer unmatched transparency and self-custody for DeFi-native users.

    The report also includes real-world trading scenarios that help readers understand which platform type is better suited to their goals. For example, a retail trader managing small-cap positions may benefit from Bitget’s intuitive UI, low fees, and fiat on-ramps. In contrast, DeFi-native users seeking anonymity and composability may prefer permissionless DEXs. Institutions executing large block trades are shown to favor CEXs like Bitget for better capital efficiency, risk management tools, and regulatory compliance. These case studies ground the content in real-world decision-making and make the guide actionable for new users.

    “The crypto industry has come a long way in terms of legitimacy, but education remains a key barrier,” said Eli Bordun, Partnership Director of Bitcoin.com. “This report breaks down step-by-step how the modern crypto markets function. Derivatives are often seen as tools for professionals — but they’re increasingly relevant for everyday users, DAOs, and even traditional financial players exploring the space. By working with Bitget to produce this report, we aim to demystify these instruments and support safe, informed participation in the market.”

    The report also highlights emerging trends set to shape the next era of crypto derivatives. One key theme is the rise of tokenized real-world assets (RWAs), which are increasingly being integrated into derivatives products and yield strategies. Another is the expansion of AI-powered trading platforms, which are revolutionizing how both retail and institutional users manage portfolios, select strategies, and mitigate risk. Regulatory clarity is also improving, with frameworks like the EU’s MiCA and Singapore’s MAS paving the way for responsible innovation.

    Finally, the report explores the evolution of CeDeFi (Centralized-Decentralized Finance) models, where platforms like Bitget offer the best of both worlds: secure custody and intuitive UX alongside permissionless asset access and DeFi integration.

    With this report, Bitget and Bitcoin.com reaffirm their shared commitment to building a more inclusive crypto trading environment. As derivatives become increasingly central to digital finance, Bitget is positioned not only as a market leader — but as a bridge between the next generation of users and the tools that will define their financial future.

    For more information, please see the full report here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin priceEthereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.
    Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.

    For more information, visit: WebsiteTwitterTelegramLinkedInDiscordBitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6595d449-33e8-478f-a5d3-67dc9f840558

    The MIL Network

  • MIL-OSI: Bitget Surges to 7.2% Global Derivatives Market Share, Ranks Top 3 Highlights Bitcoin.com Report

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Aug. 01, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, today co-releases with Bitcoin.com an educational flagship titled “Crypto Derivatives 101 – Market Breakdown: Who’s Winning the Race?” designed to help newcomers navigate the fast-growing derivatives market, the guide also highlights Bitget’s leadership as its market share doubles to 7.2% in 2025, up from 4.6% year‑to‑date.

    As detailed in the newly released report, Bitget has emerged as the third-largest derivatives exchange globally by trading volume. In April 2025 alone, the platform processed $92 billion in futures volume. Bitget’s market share rose from 4.6% at the beginning of the year to 7.2%, placing it just behind Binance and OKX. While Binance continues to lead with a 38% share, Bitget’s rapid ascent reflects both strong retail engagement and increasing institutional preference, particularly for ETH-based derivatives, where Bitget has surpassed Binance in liquidity within key trading ranges.

    “We believe educational access is foundational,” said Gracy Chen, CEO at Bitget. “Crypto derivatives have often been misunderstood or seen as overly complex, especially by new users. With this guide, we aim to change that. We want to make sure that both retail and institutional users feel empowered to understand, navigate, and leverage the powerful tools available to them. Bitget is proud to be leading this industry with a user-first approach, backed by AI-powered tools, liquidity innovations, and a commitment to transparency and accessibility.”

    The Crypto Derivatives 101 report serves as a practical, beginner-friendly guide to understanding how derivatives work and why they matter in today’s markets. It breaks down core instruments such as futures, options, and perpetual swaps, while explaining how these tools are used for hedging, speculation, and arbitrage.

    A standout feature of the report is a comprehensive comparison of centralized (CEX) and decentralized (DEX) perpetual markets, weighing factors like liquidity, slippage, fees, execution speed, and custody. Bitget, Binance, and OKX are shown to lead in areas like liquidity depth and institutional readiness, while platforms like GMX and Hyperliquid offer unmatched transparency and self-custody for DeFi-native users.

    The report also includes real-world trading scenarios that help readers understand which platform type is better suited to their goals. For example, a retail trader managing small-cap positions may benefit from Bitget’s intuitive UI, low fees, and fiat on-ramps. In contrast, DeFi-native users seeking anonymity and composability may prefer permissionless DEXs. Institutions executing large block trades are shown to favor CEXs like Bitget for better capital efficiency, risk management tools, and regulatory compliance. These case studies ground the content in real-world decision-making and make the guide actionable for new users.

    “The crypto industry has come a long way in terms of legitimacy, but education remains a key barrier,” said Eli Bordun, Partnership Director of Bitcoin.com. “This report breaks down step-by-step how the modern crypto markets function. Derivatives are often seen as tools for professionals — but they’re increasingly relevant for everyday users, DAOs, and even traditional financial players exploring the space. By working with Bitget to produce this report, we aim to demystify these instruments and support safe, informed participation in the market.”

    The report also highlights emerging trends set to shape the next era of crypto derivatives. One key theme is the rise of tokenized real-world assets (RWAs), which are increasingly being integrated into derivatives products and yield strategies. Another is the expansion of AI-powered trading platforms, which are revolutionizing how both retail and institutional users manage portfolios, select strategies, and mitigate risk. Regulatory clarity is also improving, with frameworks like the EU’s MiCA and Singapore’s MAS paving the way for responsible innovation.

    Finally, the report explores the evolution of CeDeFi (Centralized-Decentralized Finance) models, where platforms like Bitget offer the best of both worlds: secure custody and intuitive UX alongside permissionless asset access and DeFi integration.

    With this report, Bitget and Bitcoin.com reaffirm their shared commitment to building a more inclusive crypto trading environment. As derivatives become increasingly central to digital finance, Bitget is positioned not only as a market leader — but as a bridge between the next generation of users and the tools that will define their financial future.

    For more information, please see the full report here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin priceEthereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.
    Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.

    For more information, visit: WebsiteTwitterTelegramLinkedInDiscordBitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6595d449-33e8-478f-a5d3-67dc9f840558

    The MIL Network

  • MIL-OSI: Aemetis to Review Second Quarter 2025 Financial Results on August 7, 2025

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., Aug. 01, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX) announced that the company will host a conference call to review the release of its second quarter 2025 earnings report:

    Date: Thursday, August 7, 2025

    Time: 11 am Pacific Time (PT)

    Live Participant Dial In (Toll Free): +1-888-506-0062 entry code 655740 

    Live Participant Dial In (International): +1-973-528-0011 entry code 655740

    Webcast URL: https://www.webcaster4.com/Webcast/Page/2211/52764

    Attendees may submit questions during the Q&A (Questions & Answers) portion of the conference call.

    The webcast will be available on the Company’s website (www.aemetis.com) under Investors/Conference Calls, along with the company presentation, recent announcements, and video recordings.

    The voice recording will be available through August 14, 2025, by dialing (Toll Free) 877-481-4010 or (International) 919-882-2331 and entering conference ID number 52764. After August 14th, the webcast will be available on the Company’s website (www.aemetis.com) under Investors/Conference Calls.

    About Aemetis

    Headquartered in Cupertino, California, Aemetis is a renewable natural gas and renewable fuel company focused on the operation, acquisition, development, and commercialization of innovative technologies that lower fuel costs and reduce emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel fuel biorefinery in California, renewable hydrogen, and hydroelectric power to produce low carbon intensity renewable jet and diesel fuel. For additional information about Aemetis, please visit www.aemetis.com

    Company Investor Relations

    Media Contact:
    Todd Waltz
    (408) 213-0940
    investors@aemetis.com

    External Investor Relations

    Contact:
    Kirin Smith
    PCG Advisory Group
    (646) 863-6519
    ksmith@pcgadvisory.com

    The MIL Network

  • India-US partnership has endured transitions and challenges: MEA

    Source: Government of India

    Source: Government of India (4)

    India and the United States share a comprehensive global strategic partnership rooted in shared interests, democratic values, and strong people-to-people ties, a relationship that has withstood various transitions and challenges over time, the Ministry of External Affairs (MEA) said on Friday.

    “India and the United States share a comprehensive global strategic partnership anchored in shared interests, democratic values, and robust people-to-people ties. This partnership has weathered several transitions and challenges. We remain focused on the substantive agenda that both countries have committed to and are confident that the relationship will continue to move forward,” MEA spokesperson Randhir Jaiswal stated during a weekly media briefing in New Delhi. His remarks came in response to a question on India-US ties following Washington’s recent tariff announcement.

    Earlier this week, US President Donald Trump announced the imposition of 25 per cent reciprocal tariffs on Indian goods, along with an unspecified penalty over India’s purchases of Russian energy, effective from August 1.

    “India will be paying a tariff of 25 per cent,” Trump posted on his social media platform, Truth Social.

    He also warned of an additional tariff penalty on India for its continued energy trade with Russia. Trump had earlier declared that all countries purchasing Russian energy would face secondary tariffs of up to 100 per cent if Moscow failed to agree to a ceasefire in Ukraine.

    Initially, the threat to India was perceived by experts as a negotiating tactic aimed at expediting a trade agreement. Both Trump and Commerce Secretary Howard Lutnick had recently indicated optimism about reaching a deal with India, describing it as one of the first countries likely to finalize an agreement.

     

    –IANS

  • ENG vs IND, 5th Test: India collapse again to leave England in charge

    Source: Government of India

    Source: Government of India (4)

    India’s lower order collapsed again on Friday as, after resuming at 204-6, they were skittled for 224 by England in less than half an hour at The Oval to leave their chances of finding the win they need to square the series hanging by a thread. 

    India’s tail has been their weak link all series but the middle order also failed to build on a decent end to Thursday’s play as pace bowler Josh Atkinson took five wickets on his return to action having not played a test since May.

    Josh Tongue continued with his all or nothing approach from last night, spraying a ball wildly beyond the wicketkeeper for four byes then getting Karun Nair lbw for 57 to get England moving.

    Washington Sundar, who showed such patience in his rearguard century to help save the fourth test, forgot that approach and tamely pulled straight to Jamie Overton to depart for 26 as the two remaining recognised batsmen went after adding a total of 11 runs off the bat between them on Friday.

    Atkinson then bowled Mohammed Siraj and had Prasidh Krishna caught behind, both for ducks, to finish with 5-33 from 21.4 overs in his first appearance of the series.

    Earlier the ECB said that all-rounder Chris Woakes will miss the remainder of the match after suffering a shoulder injury while fielding late on Thursday.

     
  • CBI secures deportation of fugitive Udit Khullar from UAE in Rs 4.5 crore bank fraud case

    Source: Government of India

    Source: Government of India (4)

    In a major breakthrough in an ongoing financial fraud investigation, the Central Bureau of Investigation (CBI) has secured the deportation of Udit Khullar, a fugitive wanted in connection with a ₹4.55 crore bank fraud case, from the United Arab Emirates (UAE).

    Khullar, who had been absconding and was geo-located in the UAE, was brought back to India on August 1, 2025, as a deportee via Indira Gandhi International Airport, Delhi. His return was made possible through coordinated efforts between the CBI’s International Police Cooperation Unit (IPCU) and the National Central Bureau (NCB) in Abu Dhabi, under the framework of INTERPOL.

    The accused was wanted by the Delhi Police in a case registered at the Adazan Police Station, Special Cell, on charges of criminal conspiracy, cheating, and forgery. According to the investigation, Khullar, in collusion with his associates, obtained fraudulent bank loans totaling ₹4.55 crore by submitting forged property documents to both nationalised and private banks. The properties used as collateral were found to be fictitious or not owned by the accused.

    CBI initiated the process of tracking Khullar after receiving input about his location abroad. Following his arrest in the UAE, the Bureau formally requested his deportation, which was granted by the UAE authorities.

    The CBI, acting as India’s National Central Bureau for INTERPOL, has intensified international cooperation through its platform BHARATPOL, facilitating the return of over 100 wanted criminals to India in recent years via INTERPOL channels.

     

  • MIL-OSI United Nations: Japan and WFP provide emergency food assistance to families impacted by floods and droughts in Burundi

    Source: World Food Programme

    BUJUMBURA – The United Nations World Food Programme (WFP) has welcomed a contribution of US$1 million from the Government of Japan to provide lifesaving food assistance to 18,000 people affected by floods and droughts in Burundi.

    A ceremony was held in Bujumbura today to mark the contribution. The ceremony was attended by Mr Pontien Hatungimana, Burundi’s Permanent Secretary to the Minister of National Solidarity, Social Affairs, Human Rights, and Gender, H.E. Mr Isao Fukushima, Ambassador of Japan to Burundi and Jean-Noël Gentile, WFP’s Country Director in Burundi.

    “Frequent floods and droughts are shattering livelihoods and worsening food insecurity in Burundi, particularly within rural communities, where more than 85 percent of the population relies on subsistence farming for survival,” said Jean-Noël Gentile, WFP’s Country Director in Burundi. “This generous contribution from the Government of Japan is vital in supporting the daily food needs of vulnerable people as they rebuild their lives.” 

     
    From September 2023 to June 2024, heavy rain caused floods and landslides in Bujumbura and Burunga Provinces, affecting more than 300,000 people and displacing over 47,000. Meanwhile, drought conditions caused by below-average rainfall in Butanyerera Province resulted in crop and income losses for smallholder farmers.

    “I am pleased to proceed to today’s ceremony. This project aims at providing food assistance to the most vulnerable people in Burundi based on the philosophy of Human Security. I sincerely hope that with the expertise of WFP in Burundi, as many Burundians as possible could spend better lives in dignity,” said H.E. Mr Isao Fukushima, Ambassador of Japan to Burundi. “Japan has been a good partner of WFP in Burundi, and we have implemented eight joint projects since 2010.”

    The Government of Japan is a major contributor to WFP in Burundi, providing more than US$12 million in support since 2019.

    #                #            #

    The United Nations World Food Programme is the world’s largest humanitarian organization saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change.

    Follow us on X (formerly Twitter) via @WFP_Africa
     

    MIL OSI United Nations News

  • MIL-OSI Analysis: Why Donald Trump has stopped some conflicts but is failing with Ukraine and Gaza

    Source: The Conversation – UK – By Stefan Wolff, Professor of International Security, University of Birmingham

    In yet another twist in his unpredictable decision making, US president Donald Trump has dramatically shortened his original 50-day ultimatum to Vladimir Putin to call a ceasefire in Ukraine to a mere ten days. It’s an unmistakable sign of Trump’s frustration with the Russian leader who he now appears to view as the main obstacle to ending the war.

    Progress has been similarly limited on another of Trump’s flagship foreign policy projects: ending the war in Gaza. As a humanitarian catastrophe engulfs the territory, Trump and some of his Maga base are finally challenging Israel’s denials that, after almost two years of war, many Gazans now face a real risk of starvation.

    In neither case have his efforts to mediate and bring an end to the violence borne any fruit. But not all of Trump’s efforts to stop violence in conflicts elsewhere in the world have been similarly futile. The administration brokered a ceasefire between Rwanda and the Democratic Republic of Congo (DRC), which the two countries’ foreign ministers signed in Washington on June 27.

    The US president has also claimed to be behind the ceasefire between India and Pakistan in May after the two sides had engaged in several days of fierce combat following a terror attack in Indian-administered Kashmir by a Pakistan-backed rebel group. And, drawing a clear parallel between this conflict and the border clashes between Cambodia and Thailand in July, Trump announced he had pushed both countries’ leaders to negotiate a ceasefire.

    All of these ceasefires, so far, have held. By contrast, the ceasefire in the war between Israel and Hamas in Gaza, to which Trump contributed in January, even before he was inaugurated for his second term, broke down in March and fighting has escalated ever since. A short-lived ceasefire in Ukraine in April was barely worth its name given the countless violations.

    Mixed record

    Three factors can explain Trump’s mixed record of peacemaking to date. First, the US president is more likely to succeed in stopping the fighting where he has leverage and is willing to use it to force foreign leaders to bend to his will. For example, Trump was very clear that there would be no trade negotiations with Thailand or Cambodia “until such time as the fighting STOPS”.

    The crucial difference, so far, with the situation in the war against Ukraine is that Trump has, and has used, similar leverage only with the Ukrainian president, Volodymyr Zelensky. This led to a US-Ukraine agreement on a 30-day ceasefire proposal just two weeks after the now-notorious row between Trump and Zelensky in the Oval Office.

    The mere threat of sanctions against Russia, by contrast, has done little to persuade Putin to accept whatever deal might Trump offer him. Trump’s threats – which he has never followed through on – did not work in January or May. The Kremlin’s initial reactions to the latest ultimatum from the White House do not indicate a change in Putin’s attitude.

    A second factor that may explain why Trump has had peacemaking success in some cases but not others is the level of complexity of US interests involved. When it comes to US relations with Russia and Israel, there is a lot more at stake for Trump.

    The US president still appears keen to strike a grand bargain with Russia and China under which Washington, Beijing and Moscow would agree to recognise, and not interfere in, their respective spheres of influence. This could explains his hesitation so far to follow through on his threats to Putin.

    Similarly, US interests in the Middle East – whether it’s over Iran’s nuclear programme or relations with America’s Gulf allies – have put strains on the alliance with Israel. Trump also needs to weigh carefully the impact of any move against, or in support of, Israel on his domestic support base.

    In the deal Trump brokered between Rwanda and the DRC, the issues at stake were much simpler: access for US investors to the mineral riches of the eastern DRC. Just days into his second term, Trump acknowledged that the conflict was a “very serious problem”. Congo’s president, Felix Tshisekedi, responded by offering the US access to minerals in exchange for pushing Rwanda to a deal to end the invasion and stop supporting proxy forces in the DRC.

    This leads to the third factor that has enabled Trump’s peace-making success so far: simpler solutions are easier to achieve. Thailand and Cambodia and India and Pakistan can go back to the situation before their recent fighting. That does not resolve any of the underlying issues in their conflicts, but returns their relations to some form of non-violent stability.

    It is ultimately also in the interests of the conflict parties. They have had a chance to make their violent statements and reinforce what they will and won’t tolerate from the other side. The required investment by an external mediator to end battles that have achieved what the warring sides want anyway – to avoid further escalation – is consequently quite limited.

    Complex conflicts

    Getting to any kind of stability in Ukraine or the Middle East by contrast requires prolonged engagement and attention to detail. These conflicts are at a stage in which a return to how things were before is not in the interests of the parties or their external backers. Nudging warring parties along on the path to agreement under such conditions requires a well-designed process, which is absent in Ukraine and failing in Gaza.

    Thanks to funding and personnel cuts, the US secretary of state, Marco Rubio, is now required to perform multiple roles. Trump relies on personal envoys with at best limited foreign policy expertise, while insisting he makes all the decisions. This ultimately suggests that the White House simply may not have the bandwidth for the level of engagement that would be necessary to get to a deal in Ukraine and the Middle East.

    This is a self-inflicted opportunity lost, not only for the United States but also for the long-suffering people of Ukraine and the Middle East.

    Stefan Wolff is a past recipient of grant funding from the Natural Environment Research Council of the UK, the United States Institute of Peace, the Economic and Social Research Council of the UK, the British Academy, the NATO Science for Peace Programme, the EU Framework Programmes 6 and 7 and Horizon 2020, as well as the EU’s Jean Monnet Programme. He is a Trustee and Honorary Treasurer of the Political Studies Association of the UK and a Senior Research Fellow at the Foreign Policy Centre in London.

    ref. Why Donald Trump has stopped some conflicts but is failing with Ukraine and Gaza – https://theconversation.com/why-donald-trump-has-stopped-some-conflicts-but-is-failing-with-ukraine-and-gaza-262241

    MIL OSI Analysis

  • MIL-OSI Banking: RBI to conduct 7-day Variable Rate Reverse Repo (VRRR) auction under LAF on August 01, 2025

    Source: Reserve Bank of India

    On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on Friday, August 01, 2025, as under:

    Sl. No. Notified Amount
    (₹ crore)
    Tenor (day) Window Timing Date of Reversal
    1 2,00,000 7 9:30 AM to 10:00 AM August 08, 2025
    (Friday)

    2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/819

    MIL OSI Global Banks

  • Trump tariffs face key test at US appeals court

    Source: Government of India

    Source: Government of India (4)

    A U.S. appeals court on Thursday will review President Donald Trump’s power to impose tariffs, after a lower court said he exceeded his authority with sweeping levies on imported goods.

    The U.S. Court of Appeals for the Federal Circuit in Washington, D.C., will consider the legality of “reciprocal” tariffs that Trump imposed on a broad range of U.S. trading partners in April, as well as tariffs imposed in February against China, Canada and Mexico.

    A panel of all of the court’s active judges, eight appointed by Democratic presidents and three appointed by former Republican presidents, will hear arguments scheduled to begin at 10 a.m. ET in two cases brought by five small U.S. businesses and 12 Democratic-led U.S. states.

    The arguments – one day before Trump plans to increase tariff rates on imported goods from nearly all U.S. trading partners – mark the first test before a U.S. appeals court of the scope of his tariff authority. The president has made tariffs a central instrument of his foreign policy, wielding them aggressively in his second term as leverage in trade negotiations and to push back against what he has called unfair practices.

    The states and businesses challenging the tariffs argued that they are not permissible under emergency presidential powers that Trump cited to justify them. They say the U.S. Constitution grants Congress, and not the president, authority over tariffs and other taxes.

    Trump claimed broad authority to set tariffs under the International Emergency Economic Powers Act (IEEPA), a 1977 law historically used for sanctioning enemies or freezing their assets. Trump is the first president to use it to impose tariffs.

    Trump has said the April tariffs were a response to persistent U.S. trade imbalances and declining U.S. manufacturing power.

    He said the tariffs against China, Canada and Mexico were appropriate because those countries were not doing enough to stop illegal fentanyl from crossing U.S. borders. The countries have denied that claim.

    On May 28, a three-judge panel of the U.S. Court of International Trade sided with the Democratic states and small businesses that challenged Trump. It said that the IEEPA, a law intended to address “unusual and extraordinary” threats during national emergencies, did not authorize tariffs related to longstanding trade deficits.

    The Federal Circuit has allowed the tariffs to remain in place while it considers the administration’s appeal. The timing of the court’s decision is uncertain, and the losing side will likely appeal quickly to the U.S. Supreme Court.

    The case will have no impact on tariffs levied under more traditional legal authority, such as duties on steel and aluminum imports.

    Trump’s on-again, off-again tariff threats have roiled financial markets and disrupted U.S. companies’ ability to manage supply chains, production, staffing and prices.

    The president recently announced trade deals that set tariff rates on goods from the European Union and Japan, following smaller trade agreements with Britain, Indonesia and Vietnam. Trump’s Department of Justice has argued that limiting the president’s tariff authority could undermine ongoing trade negotiations, while other Trump officials have said that negotiations have continued with little change after the initial setback in court.

    Trump has set an August 1 date for higher tariffs on countries that don’t negotiate new trade deals.

    There are at least seven other lawsuits challenging Trump’s invocation of IEEPA, including cases brought by other small businesses and California.

    A federal judge in Washington, D.C., ruled against Trump in one of those cases, and no judge has yet backed Trump’s claim of unlimited emergency tariff authority.

    (Reuters)