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Category: Asia

  • MIL-OSI Asia-Pac: Communications Authority grants consent to CMHK to cease its 3G services

    Source: Hong Kong Government special administrative region

    Communications Authority grants consent to CMHK to cease its 3G services 
         Having considered various relevant factors, the CA approved the application pursuant to Special Condition 10.4 of CMHK’s Unified Carrier Licence. These include the very low proportion of customers affected (including customers of 3G pre-paid services and those who are still using 3G handsets/devices for connection to CMHK’s network), and CMHK’s provision of support services for the affected customers such as offers to upgrade service plans or to replace handsets/devices. For customers who choose not to continue the service or not to replace their handsets/devices, CMHK has made reasonable service termination arrangements and provided them with sufficient advance notification and customer service support. Moreover, the CA has required CMHK to maintain satisfactory 3G services until the scheduled service cessation date.
     
         Affected customers may refer to the relevant press releaseIssued at HKT 16:30

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: External merchandise trade statistics for March 2025

    Source: Hong Kong Government special administrative region

    External merchandise trade statistics for March 2025 
         In March 2025, the value of total exports of goods increased by 18.5% over a year earlier to $455.5 billion, after a year-on-year increase by 15.4% in February 2025. Concurrently, the value of imports of goods increased by 16.6% over a year earlier to $500.9 billion in March 2025, after a year-on-year increase by 11.8% in February 2025. A visible trade deficit of $45.4 billion, equivalent to 9.1% of the value of imports of goods, was recorded in March 2025.
     
         For the first quarter of 2025 as a whole, the value of total exports of goods increased by 10.9% over the same period in 2024. Concurrently, the value of imports of goods increased by 9.8%. A visible trade deficit of $80.7 billion, equivalent to 6.4% of the value of imports of goods, was recorded in the first quarter of 2025.
     
         Comparing the first quarter of 2025 with the preceding quarter on a seasonally adjusted basis, the value of total exports of goods increased by 12.7%. Meanwhile, the value of imports of goods increased by 9.9%.
     
    Analysis by country/territory
     
         Comparing March 2025 with March 2024, total exports to Asia as a whole grew by 22.4%. In this region, increases were registered in the values of total exports to some major destinations, in particular Taiwan (+61.3%), Malaysia (+57.3%), Vietnam (+41.3%), the Philippines (+34.5%) and the mainland of China (the Mainland) (+25.4%). On the other hand, a decrease was recorded in the value of total exports to Korea (-22.8%).
     
         Apart from destinations in Asia, increases were registered in the values of total exports to some major destinations in other regions, in particular the United Kingdom (+48.5%) and the USA (+11.4%). On the other hand, a decrease was recorded in the value of total exports to the Netherlands (-29.0%).
     
         Over the same period of comparison, increases were registered in the values of imports from some major suppliers, in particular Vietnam (+95.1%), Taiwan (+75.8%), the United Kingdom (+55.6%), Malaysia (+46.9%) and the Mainland (+7.4%). On the other hand, a decrease was recorded in the value of imports from Korea (-21.0%).
     
         For the first quarter of 2025 as a whole, increases were registered in the values of total exports to some major destinations, in particular Vietnam (+69.1%), Taiwan (+40.6%) and the Mainland (+16.2%). On the other hand, decreases were recorded in the values of total exports to the United Arab Emirates (-36.9%) and India (-20.2%).
     
         Over the same period of comparison, increases were registered in the values of imports from some major suppliers, in particular Vietnam (+68.9%), the United Kingdom (+57.4%), Taiwan (+53.9%), Malaysia (+47.6%) and the Mainland (+4.1%). On the other hand, a decrease was recorded in the value of imports from Korea (-23.6%).
     
    Analysis by major commodity
     
         Comparing March 2025 with March 2024, increases were registered in the values of total exports of some principal commodity divisions, in particular “office machines and automatic data processing machines” (by $51.2 billion or +133.5%) and “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $20.8 billion or +11.1%). 
     
         Over the same period of comparison, increases were registered in the values of imports of some principal commodity divisions, in particular “office machines and automatic data processing machines” (by $44.4 billion or +130.8%) and “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $22.2 billion or +11.5%).
     
         For the first quarter of 2025 as a whole, increases were registered in the values of total exports of some principal commodity divisions, in particular “office machines and automatic data processing machines” (by $86.7 billion or +82.6%) and “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $43.3 billion or +8.6%).  On the other hand, a decrease was registered in the value of total exports of “telecommunications and sound recording and reproducing apparatus and equipment” (by $12.1 billion or -9.0%).
     
         Over the same period of comparison, increases were registered in the values of imports of some principal commodity divisions, in particular “office machines and automatic data processing machines” (by $74.8 billion or +91.1%) and “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $52.4 billion or +10.6%). On the other hand, a decrease was registered in the value of imports of “non-metallic mineral manufactures” (by $10.0 billion or -24.0%).
     
    Commentary
     
         A Government spokesman said that the value of merchandise exports grew sharply by 18.5% in March over a year earlier.  Exports to the Mainland grew strongly, while those to other major Asian economies showed mixed performance. Exports to the United States increased visibly, and those to the European Union registered a marginal increase.
     
         Looking ahead, global trade tensions have escalated abruptly due to the significant increases in tariffs by the United States in early April. This will pose challenges to Hong Kong’s merchandise trade performance. Nevertheless, the steady growth in the Mainland economy, together with Hong Kong’s proactive efforts in enhancing economic and trade ties with different markets, should help buttress trade performance. The Government has been providing support to enterprises through various measures in coping with the external challenges, and will monitor the situation closely.
     
    Further information
     
         Table 1 presents the analysis of external merchandise trade statistics for March 2025. Table 2 presents the original monthly trade statistics from January 2022 to March 2025, and Table 3 gives the seasonally adjusted series for the same period.
     
         The values of total exports of goods to 10 main destinations for March 2025 are shown in Table 4, whereas the values of imports of goods from 10 main suppliers are given in Table 5.
     
         Tables 6 and 7 show the values of total exports and imports of 10 principal commodity divisions for March 2025.
     
         All the merchandise trade statistics described here are measured at current prices and no account has been taken of changes in prices between the periods of comparison. A separate analysis of the volume and price movements of external merchandise trade for March 2025 will be released in mid-May 2025.
     
         The March 2025 issue of “Hong Kong External Merchandise Trade” contains detailed analysis on the performance of Hong Kong’s external merchandise trade in March 2025 and will be available in early May 2025. Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020005&scode=230 
         Enquiries on merchandise trade statistics may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4691).
    Issued at HKT 16:30

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    MIL OSI Asia Pacific News –

  • MIL-OSI: Global Web3 Giants Bitget and Avalanche Join Forces to Boost Web3 Ecosystem in India

    Source: GlobeNewswire (MIL-OSI)

    NEW DELHI, April 28, 2025 (GLOBE NEWSWIRE) — Bitget, the world’s leading crypto exchange and web3 company announced a strategic collaboration with Avalanche®, the fastest and most reliable smart contracts platform in the world. Bitget and Avalanche are leaders in the field of digital asset trading and blockchain technology respectively and the partnership is aimed at leveraging the combined strength of both global brands to enable grassroots adoption of web3 technology.

    Avalanche is investing aggressively in the Indian region, working closely with more government agencies on welfare projects and rolling out a mini grants program to encourage builders of all stages to build on their platforms. Bitget’s Blockchain4youth program has pledged $10 million over 5 years offering scholarships, workshops and hackathons to the web3 community in India and across the globe. Bitget’s Blockchain4Her initiative is aimed at supporting women-led web3 projects in India and across the globe.

    The first leg of the program kicked off with the ‘HODL ON’ tour which conducted their first 2 meetup events in Delhi & Bangalore with the mutual agenda to boost education & knowledge about blockchain & cryptocurrencies in the region.

    Commenting on the development, Devika Mittal, Regional Head at Ava Labs, said India has a very robust web3 community. Our goal with events is to provide a space to any web3 enthusiast – whether in Delhi or Varanasi or anywhere else – to connect and build. She emphasized that in 2025 down the year lots of L1s are launching on avalanche & promising very strong activity from builders across the board is expected.

    Commenting on the development Jyotsna Hridyani, South Asia Head at Bitget, said “Empowering users with the right knowledge is essential to unlocking the full potential of blockchain in India’s digital future. At Bitget, we’re committed to bridging this gap through community programs, partnerships with universities, and accessible learning tools.”

    The goal of the partnership is to widen the reach for awareness across cities in India via more such events & workshops to educate the youth on the potential benefits & applications of blockchain technology. Bitget and Avalanche both have committed to partner for more such initiatives & investments for the rest of 2025.

    Global companies like Bitget and Avalanche are betting big on India as it is the world’s top nation in terms of crypto adoption and the second-largest market for web3 developers. India’s tech talent is capable of delivering world class web3 applications if supported by timely grants, experienced mentorship and global exposure. India is home to more than 1000 web3 startups and Bitget’s mission is to double this number in 2025 through dedicated funding and mentorship channels. The ‘HODL ON’ tour offers a unique platform for web3 startups in India to showcase their work and secure funding to succeed in their respective field.

    Commenting on the success of Delhi and Bangalore chapter Akshay Aggarwal, Co-founder & Leading Contributor, Blockchained India, added, “India, with its scale and digital depth, has a unique opportunity to shape how Web3 delivers real value — especially across consumer and enterprise applications. At Blockchained India, we’ve always believed that relevance is earned through consistent action — not noise. This is an inflection point. Let’s continue building with those who see long-term value and are committed to shaping what Web3 can truly become for the masses.”

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 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 price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

    Bitget is at the forefront of 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.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget 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.

    About Avalanche
    Avalanche® is the fastest, most reliable smart contracts platform in the world. Its revolutionary consensus protocol and novel L1s enable Web3 developers to easily launch highly-scalable solutions. Deploy on the EVM, or use your own custom VM. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs. Avalanche® is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche uses Proof-of-Stake, which allows tens of thousands of validators to have a first-hand say in the system while consuming minimal energy. For more information, visit https://www.avax.network/

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/36d45783-de7b-416e-90f7-362c8ccc1c3f

    The MIL Network –

  • MIL-OSI Asia-Pac: Facilities enhanced for Golden Week

    Source: Hong Kong Information Services

    The Government will introduce various measures to enhance facilities around the High Island Reservoir East Dam, adding to convenience for visitors during the Mainland’s Labour Day Golden Week.

    The measures are in response to a significant increase in the number of visitors accessing the East Dam during recent weekends and the Ching Ming Festival holiday.

    A large number of visitors on these days have taken taxis to the East Dam in the morning, causing severe traffic congestion on Sai Kung Man Yee Road and markedly increasing the travel time for Green Minibus (GMB) Route No. 9A, from Pak Tam Chung to the East Dam.

    At present, GMB Route No. 9A on the Pak Tam Chung-East Dam route serves passengers on weekends and public holidays, with a frequency of 15-20 minutes. The service hours for departures from Pak Tam Chung are between 9.30am and 6.40pm, while those for departures from the East Dam are between 10am and 7pm.

    As more visitors are expected in the East Dam area during the Golden Week holiday period, from May 1 to 5, various departments will enact enhancement measures.

    Co-ordination between the Transport Department (TD) and the operator concerned will allow GMB Route No. 9A services to be boosted subject to passenger demand. Furthermore, the operator will, on a trial basis, extend the service to May 2, a weekday.

    The TD and the Agriculture, Fisheries & Conservation Department (AFCD) will also take measures to enhance passenger queuing arrangements.

    In the event of the road section concerned experiencing heavy traffic, the TD will make an announcement through various channels advising members of the public to plan ahead for their journeys.

    It will also set up a messaging sign at a suitable location ahead of the AFCD’s Pak Tam Chung Barrier to inform visitors of traffic conditions on the roads leading to the East Dam area.

    For its part, the Water Supplies Department has arranged for contractors to carry out temporary improvement works at some locations on Sai Kung Man Yee Road to facilitate the manoeuvring of traffic. The works have been substantially completed.

    The AFCD will strengthen management of the country park area surrounding the East Dam. This includes deploying additional personnel to patrol the region, and the enhancement of cleaning services as necessary.

    In collaboration with the Tourism Commission and the Tourism Board, the AFCD will also enhance promotion of other hiking trails within Hong Kong’s country parks and disseminate hiking guidelines to tourists.

    Police will deploy uniformed officers to direct traffic in strategic areas at peak visitor arrival and departure times, and to help facilitate pedestrian flows. The force will also take action to combat any illegal acts by taxi drivers.

    MIL OSI Asia Pacific News –

  • MIL-OSI: International Petroleum Corporation to release Q1 2025 Financial and Operational Results on May 6, 2025

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 28, 2025 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) will publish its financial and operating results and related management’s discussion and analysis for the three months ending 31 March 2025, on Tuesday, May 6, 2025 at 07:30 CET, followed by an audiocast at 09:00 CET.

    Follow the 2025 first quarter financial and operating results presentation starting at 09:00 CET live on www.international-petroleum.com or using the link or dial in details below:

    Presentation Link: https://ipc.videosync.fi/2025-05-06-q1

    Dial in number(s) Stockholm: +46 (0) 8 5052 0424
      UK-Wide: +44 (0) 33 0551 0200
      USA Local: +1 786 697 3501
       
    Password Quote IPC when prompted by the operator
       

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50

    Or

    		 Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15
         

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

    The MIL Network –

  • MIL-OSI Africa: APO Group joins forces with AFRICA24 Group, Africa’s leading TV and digital media company

    Source: Africa Press Organisation – English (2) – Report:

    APO Group joins forces with AFRICA24 Group, Africa’s leading TV and digital media company All text, images, video and audio content distributed by APO Group will be published on AFRICA24 Group’s website in English and French PARIS, France, April 28, 2025/APO Group/ — APO Group (www.APO-opa.com), the leading Pan-African communications consultancy and press release distribution service, today announced a content agreement with Africa’s leading TV and digital media company (www.Africa24TV.com). The partnership means that all text, images, video and audio content distributed by APO Group will be published on AFRICA24’s website in English and French. Watch the video: https://apo-opa.co/42w8uFD Launched in 2009 by its founder Constant Nemale, a reference in the media and communications industry, the AFRICA24 Group is the world leader in news and television on Africa, with a global daily audience of more than 80 million households on the continent and in the global African diaspora.  The AFRICA24 Group is the only media conglomerate focused on Africa, with 4 high-audience television & digital channels available on leading operators: – AFRICA24 TV: (French), world leader in Francophone African news – AFRICA24 English: the reference for news in English – AFRICA24 Sport: leader in African sports news and competitions – AFRICA24 infinity: leader in creative industries, culture, music and art The AFRICA24 Group is regularly ranked in the Top 5 of television channels most watched by African policy makers, business executives and leaders – providing leadership alongside channels such as CNN, BBC World News and Al Jazeera. Available worldwide on all the major operators: Canal+, Orange, SFR, Bouygues, Bell, etc. AFRICA24 has been the most watched French-speaking African channel for over 15 years without interruption. The AFRICA24 Group has innovated on the digital front with the launch of the myafrica24 application, the first and only HD streaming platform on Africa available on all digital media (smartphone, tablet, computer, SmartTV). A leader in digital, the AFRICA24 Group has a substantial online audience with 1 million subscribers on Facebook, 1 million subscribers on X (Twitter), and 802,000 on YouTube. The AFRICA24 Group has the largest online catalogue on Africa with its replay offer accessible on the www.Africa24TV.com website, which has become a key vector, accounting for hundreds of thousands of monthly visitors. For several years now, Africa’s leading institutions have chosen the AFRICA24 Group as their partner of reference:

    • African Union: In 2019, the continent’s leading institution signs an MOU that will make AFRICA24 Group the one and only official media partner of the prestigious African Union. The two organisations have joined forces to produce and broadcast content aimed at promoting Africa’s image and its development narrative. The AFRICA24 group launched in 2022, with huge success the weekly magazine ‘African Union Journal’ the first and only exclusive weekly television programme providing news, features, interviews and analysis and on the activities of the African Union organisation and its member states.
    • AfCFTA: In 2024, the AFRICA24 Group was chosen by AfCFTA, the African Union body responsible for promoting the Free Trade Area, to promote African economic integration through high-impact initiatives. The AFRICA24 Group thus becomes the one and only flagship media chosen to promote a single common market of 1.5 million inhabitants and Africa’s economic prosperity.

    The AFRICA24 Group is also the official media partner of many leading institutions and companies such as Afreximbank, UBA, the African Development Bank (AfDB), the United Nations for Africa (UNECA), the World Bank, the Annual Meetings of the International Monetary Fund (IMF), the Organisation mondiale de la Francophonie (OIF), the Attijariwafa Bank Group, the OCP Group, etc. The partnership with APO Group gives AFRICA24 Group access to authoritative content from all over Africa, from more than 300 multinational companies operating in Africa, as well as major international institutions, sports organisations and African governments, which will be published on www.Africa24TV.com. APO Group is thus completing a cycle of partnerships with leading African and international media that enable it to constantly improve the reach of its press release distribution service. These partnerships are mutually beneficial. Through a significant increase in the impact and visibility of content for APO Group’s clients, but also through access for media such as those of AFRICA24 Group to a qualitative flow of information from the largest organisations operating in Africa. Content distributed by APO Group is automatically published on more than 320 African news sites and on international platforms such as Bloomberg Terminal, Thomson Reuters Eikon, Lexis Nexis and Factiva. AFRICA24 Group and APO Group share a common vision of Africa. APO Group worked closely with the African Union, providing pro bono support to the African Union Commission through a full range of strategic communications services for the duration of the Dubai World Expo. “APO Group is the undisputed leader in high-quality news and certified content from organisations operating in Africa,’ said Constant Nemale, founder and chairman of AFRICA24 Group. ‘We are delighted to be able to strengthen our online presence by publishing some of the most important and relevant information about Africa.” “APO Group is always committed to offering its customers direct access to the heart of Africa and beyond,’ said Nicolas Pompigne-Mognard (www.Pompigne-Mognard.com), founder and chairman of APO Group. ‘The AFRICA24 Group has the most dominant African television channels in their segment. The AFRICA24 Group enjoys the confidence of Africa’s political decision-makers and business leaders, as well as Africa’s international partners. We share the same vision of changing the narrative about Africa and bringing positive African news to new audiences around the world.” This is a joint press release by APO Group and AFRICA24 media group. Distributed by APO Group on behalf of APO Group. Media contact: APO Group marie@apo-opa.com AFRICA24 infos@africa24tv.com Follow on: Facebook: https://apo-opa.co/4lGn4BU Twitter: https://apo-opa.co/44cDpIh YouTube: https://apo-opa.co/3GuCQzR About APO Group: Founded in 2007, APO Group (www.APO-opa.com) is the leading pan-African communications consultancy and press release distribution service. We assist private and public organizations in sharpening their reputation and increasing their brand equity in target countries across Africa. Our role as a trusted partner is to leverage the power of media and build bespoke strategies that enable organisations to produce a real, measurable impact in Africa and beyond. The trust and recognition granted to APO Group by global and multinational companies, governments, and NGOs inspires us to continuously enhance our value proposition within Africa to better cater to our clients’ needs. Among our prestigious clients: Facebook, Dangote Group, Nestle, GE, NBA, Canon, Coca-Cola, DHL, Marriott Group, Ecobank, Siemens, Standard Chartered, Orange, Jack Ma Foundation, African Development Bank, World Health Organization, Islamic Development Bank, Liquid Telecom, Rotary International, Kaspersky, Greenpeace… Headquarters: Lausanne, Switzerland | Offices in Senegal, Dubai and Hong Kong For further information, please visit our website: https://www.APO-opa.com About AFRICA24: AFRICA24 is the first African-owned global news channel and was launched in 2009. The network is devoted to news about Africa, and broadcasts 24-hours-a-day, 7-days-a-week to audiences in Africa, North America, the Middle East and Europe. AFRICA24 embodies the leading continental media which endows Africa its own tribune in the international media scene. Since its launch in 2009, AFRICA24 has been the reference for African news. AFRICA24 is the reference media partner of the Continent’s institutions and major events such United Nations, African Union, US Africa Business Summit… AFRICA24 is the reference media for all leaders across the world to address Africa related topics. AFRICA24 group will launched new channel, full HD, 24/24,  starting in 2022 : AFRICA24 English, AFRICA24 infinity (Music, fashion, Culture…) and AFRICA24 Sport. Headquarters: Dubaï, UAE | Offices in Morocco, Senegal, Ivory Coast and Cameroon. Find out more by visiting www.Africa24TV.com.

    Text copied to clipboard.

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: HK Excellent Family Awards open

    Source: Hong Kong Information Services

    The inaugural Hong Kong Excellent Family Awards, co-organised by the Home & Youth Affairs Bureau and the Family Council, are open for entries from today until June 27. Families living in Hong Kong are welcome to join.

    The awards aim to recognise families that cultivate a positive and supportive family relationship built on love and respect as well as care and support, and to pass on good family traditions and virtues.

    There are 15 awards in this event, including 10 Excellent Families Awards and five Passage of Good Family Values & Virtues Awards. Winning families will receive trophies, theme park tickets, complimentary hotel accommodation, family photography services, and gift coupons.

    Participating families are required to submit a written narrative in either Chinese or English, sharing their family’s real-life experience. They also need to include up to five family photos in an entry.

    The narrative should demonstrate strong family bonds, the family’s ability to cope with challenges in life together, and the passing on of good family traditions and virtues.

    Participants can submit entries online. Alternatively, they can download the entry form from the thematic webpage and pass the completed form along with the narrative and photos to the Home & Youth Affairs Bureau Family Council Secretariat, 13/F West Wing, Central Government Offices, 2 Tim Mei Avenue, Tamar, Hong Kong, by post or in person.

    Shortlisted families will be invited to attend a meeting in early August.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Dubai’s Web 3.0 Momentum Accelerates as Global Stakeholders Gather for Unchained Summit

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, April 28, 2025 (GLOBE NEWSWIRE) — In the middle of the Gulf, something very deep is unfolding. Web 3.0 & Blockchain is no longer a buzzword; it’s a building block. And in Dubai, the future of Web 3.0 isn’t just coming; it’s being designed at pace. As crypto regulations come of age, institutional money pouring in, and industry giants establishing regional HQs, Dubai is quickly becoming the hub of the decentralized revolution.

    As the city gears up to host the much-awaited Unchained Summit at the Kempinski Central Avenue on 28th and 29th April, a tide of excitement is rolling over the region’s Web 3.0, Blockchain, and Digital Assets industries.

    The summit, hosted by Aeternum, promises more than an average Web 3.0 conference. It’s a high-conviction meeting of founders, investors, policy shapers, and enterprise leaders driving the frontiers of how decentralized infrastructure will transform identity, finance, and trust in the digital world.

    Dubai’s Web 3.0 momentum is no longer a whisper, it’s a global signal. As the world tilts toward decentralized infrastructure, Dubai has emerged as the nexus where policy, capital, and innovation come together. With government-backed regulatory clarity, enterprise-grade adoption, and a thriving ecosystem of startups and investors, the emirate is fast becoming the capital of the decentralized ecosystem. Unchained Summit is more than a symptom of this energy; it’s the driving force. The Dubai edition brings global architects of Web 3.0 together in one place, making Dubai a living laboratory for what the internet of value, trust, and autonomy really is.

    From builders to billionaires, Unchained Summit’s lineup of speakers include:

    • Ronghui Gu, Co-Founder, Certik
    • Ella Zhang, Head, YZi Labs
    • Kostas Chalkias, Co-Founder and Chief Cryptographer, Mysten Labs
    • Sreeram Kannan, Founder & CEO, EigenLayer
    • May Zabaneh, VP of Product – Blockchain, Crypto & Digital Currencies, PayPal
    • Greg Scanlon, VP Quantitative Blockchain, Franklin Templeton Digital Assets, Franklin Templeton
    • Keone Hon, Co-Founder, Monad Foundation
    • Lennix Lai, Global Chief Commercial Officer, OKX
    • Nils Andersen-Röed, Global Head of FIU, Binance, and more.

    “Web 3.0 is a collective movement, and Unchained Summit is where the next wave of builders and thinkers come together. We’re here to drive the conversation. Web 3.0’s growth hinges on infrastructure that can scale — it’s about throughput, cost-efficiency, and long-term sustainability. We’re proud to be at Unchained Summit, pushing the notion on sustainable blockchain designs,” said Abhijit Shukla, Founder of TAN Blockchain.

    Richard Ma, CEO & Founder of Quantstamp said, “I’m honored to be speaking at Unchained Summit, a premier event bringing together visionary leaders and innovators in the Web 3.0 ecosystem. At Quantstamp, we’re dedicated to securing the future of blockchain, and I look forward to sharing insights on advancing security, trust, and resilience within this rapidly evolving industry.”

    “Markets are moving on-chain—not just assets, but access, distribution, and users. We’re excited to be at Unchained Summit talking about what it takes to put real-world assets in the hands of real people,” said José F. Pereira, Executive Director, Own.

    “Web 3.0 moves fast—and the ones who show up shape where it goes. Unchained Summit brings together the doers, not just the talkers. At TBV, we’re here to back the founders turning big ideas into real traction,” said Tobias Bauer, General Partner, TBV.

    “Dubai is no longer just participating in Web 3.0, but it’s directing traffic,” says Sharath Kumar, Founder & CEO of Aeternum and organizer of Unchained Summit. “This is the one of the first real moments where we’re seeing decentralized technologies collide with institutional capital, national policy, and entrepreneurial energy—all in one city.”

    Unchained Summit’s official sponsors include:

    With increasing interest in industries ranging from AI-driven gaming to tokenized assets, Unchained Summit indicates a wider industry transition: Web 3.0 is increasingly finding its way into mainstream enterprise planning. And as a result of this, after its Dubai edition, Unchained Summit is set to make its India debut on 5th and 6th December 2025, reaffirming its commitment to bridge APAC, Middle Eastern, and European Web 3.0 & Crypto ecosystems.

    As the Dubai chapter draws to a close, one thing is certain: the decentralized future is no longer a distant prospect; it is happening already.

    Tickets for the Dubai edition are on sale on the official site: unchainedsummit.com

    About Aeternum Consulting Ltd:

    Aeternum organizes business-to-business events in the emerging tech space, provides strategic consulting, and tailored services to a diverse range of clients, from corporations to governments and startups to individuals. Aeternum specializes in crafting impactful B2B platforms that foster meaningful connections, drive business growth, and facilitate knowledge sharing through conferences, exhibitions, and bespoke networking opportunities.

    For more information visit: aeternuminc.com

    The MIL Network –

  • MIL-OSI Economics: Building a robust ecosystem for Green and Sustainable Finance in India – Valedictory address delivered by Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India – April 17, 2025 – at Credit Summit 2025 organised by the Bharat Climate Forum at New Delhi

    Source: Reserve Bank of India

    Distinguished guests, participants, ladies and gentlemen, Good afternoon

    At the outset, let me thank the organisers for inviting me and giving me an opportunity to deliver the valedictory address and share some of my thoughts on a subject which continues to engage national as well as global attention. I believe there would have been fruitful deliberations on the topics of green and sustainable finance and the role of financial institutions, opportunities and challenges, aligning of regulatory and policy worlds, facilitating global financing, and integration of climate change aspects in credit risks of the financial institutions. Each of these topics require detailed deliberations and collectively they form the building blocks for creation of a robust ecosystem for green and sustainable finance for the economy and financial system at large.

    2. The critical enablers to attract green and sustainable investments that need to be put in place for financial ecosystem has been and continues to be a subject of deliberations at various fora be it G20 Sustainable Finance Working Group, the international standard setting bodies such as the Basel Committee on Banking Supervision, the International Sustainability Standards Board as well as the Financial Stability Board, and the Network for Greening the Financial System. These enablers range from adoption of a national green/ climate finance taxonomy, globally aligned disclosure standards for climate related financial risks, and robust assurance and verification process. Green and sustainable finance being a niche area, requires us to be mindful of greenwashing risks. Moreover, there are certain inherent risks and conditions that need to be met from the risk-reward perspective in green and sustainable lending/ investment decisions. Let me delve a bit into these aspects and try to build a narrative on how we can collectively build and develop a robust ecosystem for green and sustainable finance in India.

    The Green and Sustainable Finance Taxonomy

    3. When we talk of green and sustainable finance, the primary consideration is understanding as to what defines it. A national level taxonomy is crucial as it serves as the first building block that aligns the entire ecosystem, be it the government, regulators, other policy makers, financial institutions and borrowers/investors. This is under development in India. You are aware that an announcement to this effect was made by the Hon’ble Finance Minister in the Budget Speech for 2024-25. Meanwhile, we at Reserve Bank of India have till this juncture used the Sovereign Green Bonds (SGrB) framework for mapping of the green and sustainable sectors. This was also used when we issued a Framework on acceptance of Green Deposits in April 2023, which aligns with the SGrB framework towards identification of the green sectors. Thus, as a robust ecosystem enabler, the first building block would be a national level taxonomy for identification of the sectors and alignment of various regulatory dispensations along this taxonomy.

    Consistent and harmonised Regulatory approach

    4. The second building block would be a consistent and harmonised regulatory approach towards assessment of climate change risks and fostering of related financing. The climate change risks, and the related issues are sector agnostic, with significant inter-dependencies. To ensure that the net zero target announced by the Hon’ble PM at COP26 in 2021 is achieved by 2070, it would require players in the economy and financial system to fine-tune their respective actions/ measures, so that as a country, we can achieve this target. It would also require a consistent and harmonised approach among the concerned regulators and authorities.

    Assurance and Verification Function

    5. The next building block would be the development of robust assurance and verification functions. Assessment of climate related financial risks, green and sustainable finance are context specific, with need for a clear and objective demonstration of end use of funds. Transparency and related checks and balances that provide assurance on end use of the funds related to green and sustainable finance is extremely important. Given the technical expertise needed for assurance on climate related aspects, as well as adherence to benchmark assurance standards, there is a need to ensure credibility of this assurance and verification process. This would mean defining the requirement of consistent standards detailing expertise and skills that any assurer or verifier must possess to provide these services. A consistent approach across the financial system on the processes would provide confidence to the investors, which would then operate as a key enabler for increased flow of credit to the relevant sectors while addressing concerns around risks of greenwashing.

    Transparency and Disclosures

    6. The fourth aspect is the need for transparency in climate related disclosures. This is essential for financial institutions to assess and manage climate related financial risks, ensure transparency, and support long-term financial stability. It also underscores the need for coherence among various sectors on disclosure aspects. To give an example, if a financial institution is to make any lending or investment decision or assess its portfolio risks, or is mandated to make climate related financial disclosures, then it must depend on the borrowers to provide the requisite information. This means not just putting in place an enabling mechanism for both the lender and the borrower but also having consistency across the financial system for seamless flow of data and information. The Reserve Bank of India had published a draft “Disclosure framework on Climate-related Financial Risks”, in February 2024 for public consultation. The draft guidelines require Regulated Entities to make qualitative and quantitative disclosures with respect to climate related financial risks based on four broad areas, viz., (i) governance (ii) strategy (iii) risk management and (iv) metrics and targets. We have received comprehensive feedback on the framework basis which the guidelines are being finalised.

    Complexities of climate change modelling and data considerations

    7. Another area where consistency and harmonisation are required is compilation of data. For purpose of climate related financial risk, assessment and related facets of green and sustainable finance, be it transition or adaptation finance, data is very crucial. One of the limitations for climate risk assessment at this juncture is the need for technical expertise coupled with unique data requirements. Climate related data, understanding nuances of the climate patterns and the impact on account of climate change, is a highly technical and skilled job. Climate scientists across the world use super computers to study climate and weather patterns and its related aspects. It involves complex modelling and is resource intensive. If we depend on a financial sector expert, who uses financial modelling for assessing quantitative estimates and then arrive at the financial sector impact, this expertise alone may not suffice. The two skill sets needed for climate scenario analysis and climate finance risks are completely different in that as climate scientists are not experts in financial modelling and financial modellers have limited expertise in area of climate science. This makes the job of assessment of impact of climate change risks on financial sector more difficult and would therefore require collaboration amongst the two.

    8. Given the impact of climate change risks, viz., physical and transition risks and the impact it has on the value of real assets and financial instruments, understanding these risks is crucial for lenders or investors from a risk-reward perspective. Thus, for uniform and consistent assessment of risks across the financial system, the aspect of disclosure and data becomes crucial. This will remove the misalignment of information between borrowers and lenders/ investors and not only allow a fair assessment of climate change risks but also foster green and sustainable finance.

    9. As a part of this endeavour, Reserve Bank had in the monetary policy statement of October 2024, announced the formation of Reserve Bank – Climate Risk Information System (RB-CRIS). It is envisaged to bridge data gaps and provide standardised datasets to the Regulated Entities (REs) on three aspects – Physical Risk Data, Transition Risk Data, and Carbon Emission Factor Database. The physical risk data part would focus on providing pan-India hazard and vulnerability data. As regards the transition risk, the plan is to arrive at India specific transition scenarios and use them to provide sectoral benchmark transition pathways. Finally, recognising the need to standardise the emission calculation across the sectors, a consistent approach towards carbon emission methodology and the uniform database is also being proposed. Under RB-CRIS, the RBI intends to bring all the stakeholders together and bring coherence and bridge the existing data gaps.

    Climate change and credit risks

    10. Climate change risks impact the financial institutions, financial system and real economy through the traditional risk categories and one risk factor that prominently stands out is credit risk. Climate change would lead to additional operational costs for the borrowers with an increased possibility of loss of their assets, leading to increased probability of default by the borrowers. The real economy is also impacted through various means such as direct property losses, crop losses, loss of employment and livelihood losses. Another facet of credit risk in climate change emanates from the need to promote green and sustainable financing. The fact that the net-zero technologies driving the transition to decarbonisation, are at various developmental and evolving stages, itself signifies a significant increase in credit risks. Thus, there is a dichotomy wherein on one hand there is a need for incentivising green and sustainable finance and on the other there is an increase in inherent risks from encouraging such financing. So, the key issue is how to manage this dichotomy? While the prudential aspect, i.e., the risk management consideration, is the prime concern for any regulator, the flow of credit is generally market determined albeit mandated at times through specific directed lending policies. Therefore, a delicate balancing act needs to be performed by the regulators to avoid any imbalance from the broader financial stability perspective.

    Challenges to Green and Sustainable Finance and Global Financing

    11. Challenges to green and sustainable finance are many. However, they can be broadly categorised in two specific buckets – one is the structural issues while the other relates to the quantum of financing available. From the structural perspective, the main challenges would be, high-upfront capex requirements given the specific nature of required project loans/ investments; perceived high inherent risks given the evolving nature of climate related technologies; asset liability mismatches which is ubiquitous to any lending/ investing activity, more so in case of project loans given the longer maturity, commencement and gestation timelines; and knowledge and information gaps, given the technical nature of assessment of climate change risks and appraisal of climate related technologies.

    12. As to the quantum of financing available, there are various pull and push factors at work, in the context of global capital mobilisation. The global capital stock of lending/ investments flows also follows a risk-reward perspective. The pull factors are the specific domestic enablers which may drive investor appetite. This would be a function of robustness of the financial ecosystem, liquidity, and depth of the financial markets, transparency and disclosure standards, rigour of verification and assurance mechanism, development and dissemination of risk assessment models for climate-related risks, data and capacity gaps, long-term strategy on transition plans, and availability of pool of bankable projects. The push factors would be the global commitment of funds for climate related funding. The recent geo-political developments could possibly lead to the weakening of these push factors. This is a developing story and there is a need to closely monitor the wider implications. Given the huge requirement for funding of the green transition, the availability of global funds remains critical.

    13. The inherent risks in the green and sustainable finance, skews the risk-reward considerations leading to increased cost of credit. This leads to demand by private sector investors/ lenders for appropriate derisking mechanisms through grants/ guarantees/ philanthropic capital/ financial incentives, etc. Mobilising such capital on scale, would be a challenge. A related issue is the availability of bankable projects. Though, bankable projects invariably find credit, there are funding challenges with partially bankable and non-bankable projects. As you all may be aware, there are two aspects of climate change finance we need to consider, one is mitigation and other is adaptation. Mitigation is used for transition purpose and adaptation for resilience purpose. Financing in case of mitigation can be associated with cash flows, but it becomes difficult for adaptation and resilience, as the associated cash-flows are difficult to assess leading to sub optimal capital flows towards sustainable investments in resilient infrastructure and adaptation.

    Augmenting green and sustainable finance

    14. Given these limitations, there is a need for concerted efforts to overcome these challenges and augment green and sustainable finance. This would require a multi-pronged approach. Blended finance, which combines concessional public funding with private sector investment can be one of the main conduits of the credit flow by de-risking climate related projects. India is a diverse country, with varying needs of climate mitigation and resilience, meaning, a coastal area would require a differentiated approach as compared to the regions near the Himalayas. We would need practical implementable solutions, curated to specific issues. Tools like guarantees, sustainability-linked loans, and climate-resilient bonds could be explored to further enhance private sector involvement.

    15. The problem of climate change needs scalable solutions, and it cannot come by entirely relying on public funds. There is thus a need to develop a market wherein the risk-reward perspective itself takes care of the scale of requirements. Even within adaptation space, there are pockets which can be associated with cash flows. Climate change risks and financing needs to be viewed also as an opportunity. Innovative solutions which not only mitigate financial risks associated with climate change but also incentivise private investors to participate in climate projects need to be explored.

    16. Developmental Financial Institutions (DFIs) would have to play a major role in channelising the flow of credit for green and sustainable finance. There is a need for more collaboration between DFIs, Multilateral Development Banks (MDBs), National Development Banks (NDBs) and Vertical Climate and Environmental Funds (VCEFs). Given the current geo-political developments, with the world moving to a multi-polar world, there is a need for certain reforms within the MDBs as well greater representation from/ credit to the global south.

    17. Technology and innovation would play a major role in mitigation of climate change risks while creating a robust ecosystem for green and sustainable finance in the country. This requires developing a platform that would bring together the REs and technology solution providers, to facilitate an orderly development of required technological solutions to mitigate climate related risks and overcome the current limitations and foster sustainability linked credit flow. The Reserve Bank has on April 09, 2025, included sustainable finance and climate risk mitigation as a topic under the Theme Neutral “On Tap” application facility under the Regulatory Sandbox which could help develop and test innovative solutions.

    The Way Forward

    18. One term which often finds mention in global context has been “inter-operability”. While as a concept, inter-operability seems ideal in a just and equal world, in these times in a world with stark inequalities, mandating inter-operability with similar level of commitments, may not be the ideal way and there is a need for a differentiated approach. The Emerging Markets and Developing Economies (EMDEs) have started this journey to achieve seamless integration and inter-operability. However, there is yet some distance to be covered. Though, historical examples from high-income countries demonstrate the potential to decouple economic growth from emissions, for EMDEs this would require strong international co-operation, significant investments, and effective policies. Further, any transition from carbon intensive economy to a greener economy is not a smooth ride and there are going to be disruptions be it restructuring, reallocation of resources and financial flows as also displacement of workers and have a bearing on land use. Thus, as we traverse this journey there is a need for delicate balance to ensure that socio-economic implications are carefully considered and addressed.

    19. Going forward, we would also need to arm our respective organizations with skilled manpower and technical expertise to spearhead the transformation in addressing the challenges of climate change. With this end in view, Reserve Bank has been conducting extensive capacity building programmes for the REs. The focus has been on bringing international experts to share their experience on green and sustainable financing, stress testing and scenario analysis, credit risk assessment, transition planning, physical risk assessment, and global best practices for governance, strategy and risk management.

    Conclusion

    20. India occupies a unique position in the global climate context. As one of the world’s fastest-growing economies, it faces the dual challenge of fostering and sustaining economic development while addressing climate change. On the one hand, it is highly vulnerable to climate risks while on the other hand, it has the potential to lead the global green transition. While we have made a fair start, there are several challenges that remain to be addressed. The risk management architecture in REs for climate related financial risks is still evolving and further concerted efforts are required. Further, a comprehensive assessment on the extent of losses that may be caused due to climate change risks in the future requires more granular approach. There is a need to build technical expertise and competencies for comprehensive assessment and mitigation of climate change risks. There is also a need for a more harmonised and coherent regulatory approaches across various sectors so that the sectoral dependencies may be addressed in an efficient manner. While the need for the world to transition to a greener tomorrow is given, there are several challenges on the way, and they need to be addressed in a holistic manner. We also need a collaborative and sensitive approach to address the various issues given the impact on the economies and the societies at large. I am confident seminars such as these give an opportunity to further the work to achieve these objectives.

    Thank you.

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: HK, Bahrain tax pact in effect

    Source: Hong Kong Information Services

    Hong Kong’s Comprehensive Avoidance of Double Taxation Agreement (CDTA) with Bahrain signed in March 2024 has come into force and will be applicable to Hong Kong tax for any year of assessment beginning April 1, 2026.

    Under the agreement, companies and residents of both places will not have to pay tax twice on a single source of income.

    The agreement will also allow them to have certainty on tax liabilities and save tax when they engage in cross-border business activities, thereby helping to promote bilateral trade and investment.

    Hong Kong has signed CDTAs with 51 tax jurisdictions so far.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Bun scrambling final set for May 5

    Source: Hong Kong Information Services

    The Bun Scrambling Final, the finale to the 2025 Bun Carnival, will be held on May 5 at the Pak Tai Temple Playground soccer pitch on Cheung Chau.

    Following an opening ceremony at 11.30pm, the competition will start at midnight according to tradition.

    Trophies will be awarded to the champion, first runner-up and second runner-up in the men’s division and the champion in the women’s division. The Full Pockets of Lucky Buns award will again be presented to the participant who gathers the most buns.

    Four spectator zones will bet up at the soccer pitch to accommodate around 1,650 people. Admission is expected to start from 10.30pm.

    From 10pm on May 5, free tickets will be available at Pak She First Lane, next to Cheung Chau Fire Station as well as along Ping Chong Road. Each person can obtain one ticket on a first come, first served basis while tickets last.

    Special transport arrangements will be made to cater to spectators leaving Cheung Chau after the event.

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Eucharistic Celebration on the second day of the Novendiali

    Source: The Holy See

    At 10.30 today, Second Sunday of Easter or Divine Mercy Sunday, on the second day of the Novendiali, a Eucharistic Celebration in memory of the Roman Pontiff Francis was held on the parvis of Saint Peter’s Basilica, presided over by His Eminence Cardinal Pietro Parolin.
    On the second day of the Novendiali, a special invitation was extended to the employees and faithful of Vatican City. It was also attended by many teenagers gathered in Rome for the Jubilee dedicated to them. According to official data, approximately 200,000 faithful were present.
    The following is the homily delivered by His Eminence Cardinal Pietro Parolin during the course of the Eucharistic Celebration:

    Homily of His Eminence Cardinal Pietro Parolin
    Dear brothers and sisters,
    The risen Jesus appears to his disciples while they are in the Upper Room where they have fearfully shut themselves in, with the doors locked (Jn 20:19). Their state of mind is disturbed and their hearts are full of sadness, because the Master and Shepherd they had followed, leaving everything behind, has been nailed to the cross. They experienced terrible things and feel orphaned, alone, lost, threatened and helpless.
    The opening image that the Gospel offers us on this Sunday can also well represent the state of mind of all of us, of the Church, and of the entire world. The shepherd whom the Lord gave to his people, Pope Francis, has ended his earthly life and has left us. The grief at his departure, the sense of sadness that assails us, the turmoil we feel in our hearts, the sense of bewilderment: we are experiencing all of this, like the apostles grieving over the death of Jesus.
    Yet, the Gospel tells us that it is precisely in these moments of darkness that the Lord comes to us with the light of the resurrection, to illuminate our hearts. Pope Francis reminded us of this since his election and often repeated it to us, placing at the centre of his pontificate that joy of the Gospel which, as he wrote in Evangelii Gaudium, “fills the hearts and lives of all who encounter Jesus. Those who accept his offer of salvation are set free from sin, sorrow, inner emptiness and loneliness. With Christ joy is constantly born anew” (n. 1).
    The joy of Easter, which sustains us in this time of trial and sadness, is something that can almost be touched in this square today; you can see it etched above all in your faces, dear children and young people who have come from all over the world to celebrate the Jubilee. You come from so many places: from all of the dioceses of Italy, from Europe, from the United States to Latin America, from Africa to Asia, from the United Arab Emirates… with you here, the whole world is truly present!
    I address a special greeting to you, with the desire to make you feel the embrace of the Church and the affection of Pope Francis, who would have liked to meet you, to look into your eyes, and to pass among you to greet you.
    In light of the many challenges you are called to confront – I think, for example, of the technology and artificial intelligence that characterise our age in a particular way – never forget to nourish your lives with the true hope that has the face of Jesus Christ. Nothing will be too great or too challenging with him! With him you will never be alone or abandoned, not even in the worst of times! He comes to meet you where you are, to give you the courage to live, to share your experiences, your thoughts, your gifts, and your dreams. He comes to you in the face of those near or far, a brother and sister to love, to whom you have so much to give and from whom so much to receive, to help you to be generous, faithful and responsible as you move forward in life. He wants to help you to understand what is most valuable in life: the love that encompasses all things and hopes all things (cf. 1 Cor 13:7).
    Today, on the Second Sunday of Easter, Dominica in Albis, we celebrate the Feast of Divine Mercy.
    It is precisely the Father’s mercy, which is greater than our limitations and calculations, that characterised the Magisterium of Pope Francis and his intense apostolic activity. Likewise the eagerness to proclaim and share God’s mercy with all – the proclamation of the Good News, evangelisation – was the principal theme of his pontificate. He reminded us that “mercy” is the very name of God, and, therefore, no one can put a limit on his merciful love with which he wants to raise us up and make us new people.
    It is important to welcome as a precious treasure this principle on which Pope Francis insisted so much. And – allow me to say – our affection for him, which is being manifested in this time, must not remain a mere emotion of the moment; we must welcome his legacy and make it part of our lives, opening ourselves to God’s mercy and also being merciful to one another.
    Mercy takes us back to the heart of faith. It reminds us that we do not have to interpret our relationship with God and our being Church according to human or worldly categories. The good news of the Gospel is first and foremost the discovery of being loved by a God who has compassionate and tender feelings for each one of us, regardless of our merits. It also reminds us that our life is woven with mercy: we can only get back up after our falls and look to the future if we have someone who loves us without limits and forgives us. Therefore, we are called to the commitment of living our relationships no longer according to the criteria of calculation or blinded by selfishness, but by opening ourselves to dialogue with others, welcoming those we meet along the way and forgiving their weaknesses and mistakes. Only mercy heals and creates a new world, putting out the fires of distrust, hatred and violence: this is the great teaching of Pope Francis.
    Jesus shows us this merciful face of God in his preaching and in the deeds he performs. Furthermore, as we have heard, when he presents himself in the Upper Room after the resurrection, he offers the gift of peace and says: “If you forgive the sins of any, they are forgiven them; if you retain the sins of any, they are retained” (Jn 20:23). Thus, the risen Lord directs his disciples, his Church, to be instruments of mercy for humanity for those willing to accept God’s love and forgiveness. Pope Francis was a shining witness of a Church that bends down with tenderness towards those who are wounded and heals with the balm of mercy. He reminded us that there can be no peace without the recognition of the other, without attention to those who are weaker and, above all, there can never be peace if we do not learn to forgive one another, showing each another the same mercy that God shows us.
    Brothers and sisters, precisely on Divine Mercy Sunday we remember our beloved Pope Francis with affection. Indeed, such memories are particularly vivid among the employees and faithful of Vatican City, many of whom are present here, and whom I would like to thank for the service they perform every day. To you, to all of us, to the whole world, Pope Francis extends his embrace from Heaven.
    We entrust ourselves to the Blessed Virgin Mary, to whom he was so devoted that he chose to be buried in the Basilica of Saint Mary Major. May she protect us, intercede for us, watch over the Church, and support the journey of humanity in peace and fraternity. Amen.

    MIL OSI Europe News –

  • MIL-OSI Banking: Secretary-General of ASEAN receives Dean of ERIA School of Government

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, this morning met with the Dean of the Economic Research Institute for ASEAN and East Asia (ERIA) School of Government, Professor Nobuhiro Aizawa, at the ASEAN Headquarters/ASEAN Secretariat in Jakarta, Indonesia.

    The meeting discussed ongoing preparations for the upcoming ERIA Leadership Lecture by Samdech Akka Moha Sena Padei Techo Hun Sen, President of the Senate of the Kingdom of Cambodia, to be held on 6 May 2025, in ERIA’s office, in Jakarta.

    The post Secretary-General of ASEAN receives Dean of ERIA School of Government appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI: Best Online Casinos 2025: 7Bit Casino Rated As Top Real Money Casino

    Source: GlobeNewswire (MIL-OSI)

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    The MIL Network –

  • MIL-OSI: NBPE Announces Audited 2024 Results and 31 March 2025 Est. NAV

    Source: GlobeNewswire (MIL-OSI)

    THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

    St Peter Port, Guernsey   28 April 2025

    NB Private Equity Partners (NBPE), the $1.3bn FTSE 250 listed private equity investment company managed by Neuberger Berman, today releases its 2024 Annual Financial Report and 31 March 2025 Monthly NAV Update.

    Audited Annual Results Highlights (31 December 2024)

    • NAV per share of $27.53 (£21.98)
    • 1.5% NAV TR in the 12 months to 31 December 2024, driven by an increase in private valuations, offset by quoted holdings and FX
    • Private portfolio value increased 6.9% in 2024 on a constant currency basis
    • Strong portfolio company operating performance: LTM revenue and EBITDA growth of 8.0% and 13.1%, respectively, during 20241
    • $179 million of proceeds from realisations received during 2024
    • Well positioned to take advantage of investment opportunities – $283 million of cash and undrawn credit line available
    • $0.94 per share of dividends paid during 2024
    As of 31 December 2024 2024 3 years 5 years 10 years
    NAV TR (USD)*
    Annualised    		 1.5% (4.0%)
    (1.3%)    		 68.8%
    11.0%    		 166.2%
    10.3%
    MSCI World TR (USD)*
    Annualised    		 19.2% 22.0%
    6.9%    		 73.9%
    11.7%    		 171.9%
    10.5%
             
    Share price TR (GBP)*
    Annualised    		 (1.1%) (2.3%)
    (0.8%)    		 62.1%
    10.1%    		 231.2%
    12.7%
    FTSE All-Share TR (GBP)*
    Annualised    		 9.5% 18.5%
    5.8%    		 26.5%
    4.8%    		 81.9%
    6.2%

    *Reflects cumulative returns over the time periods shown and are not annualised.

    Peter Von Lehe, Managing Director and Head of Investment Solutions & Strategy at Neuberger Berman commented:

    “NBPE ended 2024 with net assets of $1.3 billion, reflecting a NAV per share of $27.53 and a total NAV return of 1.5% for the year. This performance was driven by the strong operating performance of our private investment portfolio, which grew in value by 6.9% on a constant currency basis. However, these gains were partially offset by the impact of foreign exchange fluctuations and public holdings. Despite a more challenging environment for private equity exits, NBPE delivered solid realisations in 2024, generating $179 million in proceeds – equivalent to 14% of the portfolio’s opening fair value.

    NBPE ended the year in a strong financial position with $283 million of available liquidity and an investment level of 102%, which is at the lower end of the long-term target investment level range of 100-110%.”

    Paul Daggett, Managing Director of Neuberger Berman, continued:

    “Overall, the underlying portfolio of private companies continued to perform well, reporting a weighted average LTM revenue and EBITDA growth1 of 8.0% and 13.1%, respectively. It is encouraging to see that the four new investments made in 2024 are off to a good start, being valued at a 1.1x gross multiple of capital and generating a 22% IRR on a combined basis as of 31 December 2024.

    Despite recent market volatility and uncertainty, we remain confident that NBPE is well-positioned to perform across a range of economic scenarios. The portfolio remains well-diversified across our two key themes, and we believe it is well-positioned to continue to deliver growth over the long term.”

    The Company’s 2024 Annual Report and a video from Neuberger Berman to accompany the results are available to view at: https://www.nbprivateequitypartners.com/

    Portfolio Update to 31 March 2025

    NAV TR increase of 0.4% YTD 2025

    • 31 March 2025 NAV per share of $27.17 (£21.05)
    • YTD NAV driven by positive FX adjustments, offset by declines in quoted holdings
    • 31 March 2025 monthly NAV estimate does not include any Q1 2025 private company valuations

    Realisations from the portfolio in 2025

    • $47 million of proceeds received in the first three months of 2025
      • Realisations to date driven by full exits of USI and Kyobo Life Insurance, partial realisations of Tendam, Qpark, Clearent, and Osaic, as well as full and partial realisations of certain quoted holdings and income investments
    • A further ~$20 million of proceeds is expected in the coming months from pending transactions

    Robust liquidity – well positioned to take advantage of opportunities

    • $283 million of available liquidity ($73 million cash/liquid investments and $210 million of credit line)

    2025 Share Buybacks

    • Through 25 April 2025, NBPE has repurchased approximately 624k shares for $12.3 million at a weighted average discount of 29%, resulting in a NAV accretion of approximately $0.10 per share

    Portfolio Valuation
    The fair value of NBPE’s portfolio as of 31 March 2025 was based on the following information:

    • 6% of the portfolio was valued as of 31 March 2025
      • 6% in public securities
    • 94% of the portfolio was valued as of 31 December 2024
      • 93% in private direct investments
      • 1% in private fund investments

    For further information, please contact:

    NBPE Investor Relations        +44 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com  

    Kaso Legg Communications        +44 (0)20 3882 6644
    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    Supplementary Information (as at 31 March 2025)

    Company Name Vintage Lead Sponsor Sector Fair Value ($m) % of FV
    Action 2020 3i Consumer 76.8 6.1%
    Osaic 2019 Reverence Capital Financial Services 63.5 5.0%
    Solenis 2021 Platinum Equity Industrials 60.5 4.8%
    BeyondTrust 2018 Francisco Partners Technology / IT 50.1 4.0%
    Monroe Engineering 2021 AEA Investors Industrials 42.6 3.4%
    Business Services Company* 2017 Not Disclosed Business Services 40.1 3.2%
    Branded Cities Network 2017 Shamrock Capital Communications / Media 38.9 3.1%
    GFL (NYSE: GFL) 2018 BC Partners Business Services 38.5 3.0%
    Mariner 2024 Leonard Green & Partners Financial Services 33.7 2.7%
    True Potential 2022 Cinven Financial Services 33.5 2.6%
    FDH Aero 2024 Audax Group Industrials 32.9 2.6%
    Marquee Brands 2014 Neuberger Berman Consumer 31.8 2.5%
    Staples 2017 Sycamore Partners Business Services 29.7 2.3%
    Auctane 2021 Thoma Bravo Technology / IT 28.7 2.3%
    Fortna 2017 THL Industrials 28.7 2.3%
    Viant 2018 JLL Partners Healthcare 27.1 2.1%
    Stubhub 2020 Neuberger Berman Consumer 26.4 2.1%
    Benecon 2024 TA Associates Healthcare 25.5 2.0%
    Agiliti 2019 THL Healthcare 25.3 2.0%
    Engineering 2020 NB Renaissance / Bain Capital Technology / IT 25.0 2.0%
    Solace Systems 2016 Bridge Growth Partners Technology / IT 24.5 1.9%
    Addison Group 2021 Trilantic Capital Partners Business Services 23.8 1.9%
    Kroll 2020 Further Global / Stone Point Financial Services 23.7 1.9%
    Exact 2019 KKR Technology / IT 22.2 1.8%
    CH Guenther 2021 Pritzker Private Capital Consumer 22.0 1.7%
    Excelitas 2022 AEA Investors Industrials 21.9 1.7%
    Bylight 2017 Sagewind Partners Technology / IT 19.9 1.6%
    Real Page 2021 Thoma Bravo Technology / IT 18.5 1.5%
    AutoStore (OB.AUTO) 2019 THL Industrials 18.2 1.4%
    Constellation Automotive 2019 TDR Capital Business Services 18.2 1.4%
    Total Top 30 Investments       $972.3 76.9%

    *Undisclosed company due to confidentiality provisions.

    Geography % of Portfolio
    North America 77%
    Europe 22%
    Asia / Rest of World 1%
    Total Portfolio 100%
       
    Industry % of Portfolio
    Tech, Media & Telecom 23%
    Consumer / E-commerce 21%
    Industrials / Industrial Technology 18%
    Financial Services 13%
    Business Services 12%
    Healthcare 8%
    Other 4%
    Energy 1%
    Total Portfolio 100%
       
    Vintage Year % of Portfolio
    2016 & Earlier 10%
    2017 16%
    2018 14%
    2019 14%
    2020 13%
    2021 18%
    2022 5%
    2023 2%
    2024 8%
    Total Portfolio 100%

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman
    Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $515 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of March 31, 2025.

    This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

    NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.

    Attachments

    The MIL Network –

  • MIL-Evening Report: Plans to stockpile critical minerals will help Australia weather global uncertainty – and encourage smaller miners

    Source: The Conversation (Au and NZ) – By Mohan Yellishetty, Professor, Co-Founder, Critical Minerals Consortium, and Australia-India Critical Minerals Research Hub, Monash University

    RHJPhtotos/Shutterstock

    The world needs huge quantities of critical minerals to make batteries, electric vehicles, wind turbines, mobile phones, computers and advanced weaponry.

    Many of these minerals lie under Australian soil. Australia is able to produce 9 out of 10 mineral elements required to produce lithium-ion batteries, such as lithium, nickel and cobalt. It also has the highest total reserves of battery minerals.

    But at a time of major geopolitical upheaval, critical minerals are also contested. China controls many critical mineral supply chains, allowing it to dominate clean energy technologies. The ongoing United States–China trade war has intensified competition for access to critical minerals.

    It’s against this backdrop that Labor has proposed a A$1.2 billion strategic reserve of critical minerals. It’s a timely and welcome step in the right direction.

    Why is this reserve needed?

    Critical minerals are vital to the industries of the future. But supply can be hard to secure and disruptions can be devastating.

    After US President Donald Trump jacked up tariffs on China, Beijing responded by clamping down on critical mineral exports. Almost 80% of US weaponry depends on Chinese critical minerals.

    China now dominates mining and refining of many critical minerals. Beijing controls 90% of the world’s rare earth refining, 80% of lithium refining and 68% of nickel refining. The US and other nations are belatedly trying to catch up.

    Mining has long been a major Australian industry, particularly iron ore and coal. But Australia has huge reserves of many critical minerals, producing the largest volume of lithium ore in the world as well as stocks of cobalt, manganese, rutile and others. Australian miners Lynas and Australian Strategic Materials are two of the few rare-earth mining companies not owned by China.

    That’s where this strategic reserve comes in. If it comes to fruition, the federal government would buy agreed volumes of critical minerals from commercial projects, or establish an option to purchase them at a given price. It would then keep stockpiles of these key minerals to prevent market manipulation by China and stabilise prices by releasing or holding stocks strategically.

    The reserve would give Canberra more leverage in negotiating with trading partners and enable a rapid response to supply disruptions. Government backing for the industry would boost onshore processing, scale up domestic production and encourage more high-wage, high-skill jobs in regional areas.

    Which minerals will be stockpiled? That’s yet to be determined. The list of ‘critical minerals’ can vary between countries, and a mineral critical to one nation may not be to another.

    Australia lists 31 critical minerals while Japan lists 35, the US lists 50 and the European Union 34. Australia’s list is unique in that it reflects global demand, not domestic dependency.

    The minerals most commonly included in these lists include cobalt, gallium, indium, niobium, tantalum, platinum group minerals and rare earth elements.

    Why is the government intervening?

    In 2023, major miners produced close to a billion tonnes of iron ore in Western Australia.

    By contrast, critical mineral volumes are small. For instance, only 610 tonnes of gallium were mined in 2023. Major miners such as Rio Tinto, BHP and Vale don’t tend to bother.

    Critical mineral markets are often opaque and highly concentrated. The barrier to entry is high. Globally, the market for the 31 critical minerals on Australia’s list is valued at around A$344 billion – about the size of the global aluminium market.

    That leaves it to mid-tier and small miners to bridge the gap between rapidly growing demand and supply. The problem is, raising capital is often very difficult. The price of critical minerals can fluctuate wildly. The price of lithium and nickel have fallen sharply over the last two years due to market oversupply.

    The strategic reserve would make it easier for these miners by providing access to capital through loans from Export Finance Australia and private investors, reducing financial uncertainty and cost overruns and acting as a buffer against market volatility.

    For instance, mid-tier miner Illuka Resources is building Australia’s first rare earths refinery in Western Australia. The project already has significant government support, but it is likely to need more.

    Despite Australia’s significant mineral resources, it faces an uphill battle to gain market share. China’s dominance has been driven by low production costs; low environmental, social and goverance standards; and a competitive labour market. But intensifying geopolitical competition between China and the US means Australian minerals would likely be sought by the US.

    How can Australia best play its hand?

    In volatile market conditions, cheaper operations have a significant advantage, while new mines face an uphill battle.

    Australia’s critical minerals hub framework could help offset capital costs. Smaller miners could form cooperatives to share infrastructure and manage logistics, processing and access to international markets. Sharing infrastructure such as roads, rail, energy and ports would reduce the investment risk.

    There are other challenges to overcome, such as the long lead times of 10 years or more to go from discovery to production, limited access to low-cost renewable energy and a shortage of technical and scientific capabilities.

    Labor’s strategic reserve would help. But it won’t be enough to make Australia into a critical mineral giant. The government should consider:

    • building more regional processing hubs with shared infrastructure and microgrids
    • offering royalty exemptions, tax incentives and energy subsidies early on
    • giving incentives to retrofit facilities to produce critical minerals found alongside main ores, such as cobalt found alongside copper and antimony with gold
    • encouraging models where rare earths are concentrated in Australia and processed overseas in partner countries
    • establishing Centres of Excellence on critical minerals and creating shared libraries of intellectual property to support research, avoid duplication and optimise resource allocation.

    Overall, the proposed reserve is an excellent idea. Government intervention will be necessary to absorb and mitigate risks from price fluctuations and geopolitical shocks.

    Mohan Yellishetty receives funding from the Australian Research Council, Geoscience Australia, Defense Science Institute, Boral Limited, AGL Loy Yang, Indian Ministry of Education. He is affiliated with AusIMM as its fellow, Honorary Academic Fellow, Australia India Institute, Foreign Fellow, Indian Geophysical Union, and affiliated with Indian Institute of Technology (Dharwad, Mumbai, Hyderabad). David Whittle contributed to the research base and data for this article.

    – ref. Plans to stockpile critical minerals will help Australia weather global uncertainty – and encourage smaller miners – https://theconversation.com/plans-to-stockpile-critical-minerals-will-help-australia-weather-global-uncertainty-and-encourage-smaller-miners-255320

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on April 28, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 50,000
    Total amount of bids received (in ₹ crore) 4,998
    Amount allotted (in ₹ crore) 4,998
    Cut off Rate (%) 6.01
    Weighted Average Rate (%) 6.01
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/193

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Engineering train fault probed

    Source: Hong Kong Information Services

    The Electrical & Mechanical Services Department is looking into a fault on an engineering train that caused disruption to services on the MTR’s East Rail Line yesterday.

    The train, used for inspecting overhead cables, malfunctioned near Fo Tan Station yesterday morning. Train services on the East Rail Line remained operational, but travel times were extended by 10 to 15 minutes.

    Upon receiving notification from the MTR Corporation (MTRC), the department immediately sent staff to the site to assess the situation and launch an investigation.

    Preliminary findings indicate that the incident was caused by a fault on the engineering train that prevented a lifting platform from descending. As the platform was close to the overhead cables, precautionary measures were taken before the train could be moved away.

    The department said it is now conducting an investigation into the engineering train’s design, maintenance and operational procedures. It has also requested that the MTRC conduct a comprehensive review of the incident, submit a report to explain its cause, and make proposals for improvement measures to prevent recurrence.

    A similar engineering train broke down near Tai Wo Station on the East Rail Line, also causing service disruptions, on February 5.

    Expressing grave concern over the occurrence of two such incidents affecting services within three months, the department said it will initiate a special audit to holistically review the MTRC’s emergency preparedness in relation to engineering trains.

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Asia and the Pacific Needs Grid Upgrade to Drive Energy Transition, says ADB Report

    Source: Asia Development Bank

    Inadequate investment in power grids is holding back developing countries in Asia and the Pacific from embracing the full benefits of an energy transition, including enhanced energy security, the creation of millions of green jobs and the expansion of electricity access.

    MIL OSI Economics –

  • MIL-OSI New Zealand: Piece of WWII history uncovered on Te Ara Tūtohu: SH3 Waitara to Bell Block

    Source: New Zealand Transport Agency

    A piece of Taranaki’s Second World War history has recently been uncovered during work on Te Ara Tūtohu: SH3 Waitara to Bell Block.

    Two Home Guard rifle pits were found to the north of the intersection of State Highway 3 (SH3) and De Havilland Drive in Bell Block.

    It’s likely they were constructed between 1941 and 1942 as a defensive position to protect the Bell Block Aerodrome on Te Arei Road, which was being used as a Royal New Zealand Air Force training base, from a potential invasion by Japanese forces.

    The Home Guard was formed in 1940 in response to the potential threat posed by the Empire of Japan during the Second World War. Membership was initially voluntary but became compulsory from 1942 for men aged 35-50.

    Home Guard – Te Ara Encyclopedia of New Zealand(external link)

    “These are textbook Home Guard pits,” says project archaeologist Daniel McCurdy. “These are so textbook, that in fact one of them conforms exactly (within a few inches) to the standard set out for the Home Guard. However, instead of an optional drainage trench at the base, the men chose to place timbers instead, likely reclaimed from the local farm.”

    There have been a number of archaeological finds on Te Ara Tūtohu since physical works began in 2023. The project works closely with archaeologists and cultural monitors in these instances. Depending on what is found, the find may be removed or documented and left in place.

    “The area we are working in is historically significant. It’s important that whenever we come across a potential archaeological find in the course of our work that we take the time necessary to investigate,” says Te Ara Tūtohu project manager Calvin Rorke.

    “I know that I, and many of us working on Te Ara Tūtohu, have learnt a lot about the history of this area through our work on the project.”

    Te Ara Tūtohu: Waitara to Bell Block project

    MIL OSI New Zealand News –

  • MIL-OSI Economics: Money Market Operations as on April 25, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 6,16,051.71 5.79 0.01-6.85
         I. Call Money 14,474.89 5.86 4.95-5.95
         II. Triparty Repo 4,05,721.70 5.76 5.65-5.90
         III. Market Repo 1,94,293.12 5.85 0.01-6.85
         IV. Repo in Corporate Bond 1,562.00 6.00 6.00-6.05
    B. Term Segment      
         I. Notice Money** 87.10 5.74 5.55-5.85
         II. Term Money@@ 400.00 – 6.20-6.20
         III. Triparty Repo 6,620.00 5.88 5.83-5.90
         IV. Market Repo 0.00 – –
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Fri, 25/04/2025 3 Mon, 28/04/2025 6,947.00 6.01
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Fri, 25/04/2025 1 Sat, 26/04/2025 198.00 6.25
      Fri, 25/04/2025 2 Sun, 27/04/2025 0.00 6.25
      Fri, 25/04/2025 3 Mon, 28/04/2025 100.00 6.25
    4. SDFΔ# Fri, 25/04/2025 1 Sat, 26/04/2025 1,28,142.00 5.75
      Fri, 25/04/2025 2 Sun, 27/04/2025 53.00 5.75
      Fri, 25/04/2025 3 Mon, 28/04/2025 16,811.00 5.75
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,37,761.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo Thu, 17/04/2025 43 Fri, 30/05/2025 25,731.00 6.01
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       10,031.22  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     35,762.22  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -1,01,998.78  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on April 25, 2025 9,54,370.84  
         (ii) Average daily cash reserve requirement for the fortnight ending May 02, 2025 9,51,938.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ April 25, 2025 6,947.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on April 04, 2025 2,36,088.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2025-2026/91 dated April 11, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/192

    MIL OSI Economics –

  • MIL-OSI NGOs: The plastic-free shift: A viable option for big business

    Source: Greenpeace Statement –

    Photo from: Okada Manila

    Plenty of businesses are starting their own sustainability initiatives, but only a few large companies are taking serious steps to slowly phase out single-use plastics from their operations. Stepping up to the challenge is Okada Manila, a major player in the Philippine hospitality industry.

    The six-time Forbes 5-star integrated resort started its operations in 2016, with the aim of boosting tourism by providing a “comprehensive leisure experience” combining gaming with hotel, dining, shopping and entertainment options. This would evolve into a much bigger cause: embedding environmentally sustainable practices into the services they bring.

    “From the very beginning, sustainability has been top of mind — from planning to construction of the property,” shared Okada Manila Vice President for Hotel Operations Robert Scott.

    “Almost a decade in, we have integrated environmentally responsible practices across all facets of our operations. Sustainability is at the heart of everything we do, and we continue to develop programs through the Okada Green Heart movement.”

    The Philippine hotel industry is the largest consumer of single-use plastics in the country, according to data referenced by a 2022 journal article. Packaging alone accounts for up to 40% of a hotel’s waste stream, a harmful byproduct from manufacturers that doesn’t decompose over time.

    Photo by: Greenpeace

    While over 94% of Filipinos are in favor of global caps on plastic production in the country, most are left with limited options as the problematic material continues to be cheaper for businesses.

    From plastic bottles to reuse and refill

    Okada Manila started out using single-use plastic bottles for various hotel amenities just like most businesses. This includes water bottles, shampoos and conditioners provided to guests. But with over 1,001 rooms, this translates to an immense volume of plastic waste daily.

    Acknowledging the problem, the hotel earlier removed disposable bottles carrying hygiene products in all of their guest rooms, effectively replacing it with a similar reuse and refill system. 

    “We started off with single-use plastic bottles for all of our in-room amenities: shampoos, conditioners, but we’ve removed all those,” added Robert. “Initially we moved them across to aluminium foil tubes and have now removed them completely. So we’ve got the big dispenser pumps that are in the room.”

    Photo by: Miguel Louie de Guzman / Greenpeace

    Plastic bottles carrying essential toiletries are usually taken home by hotel guests in the Philippines, many of which are very small in size. These are replaced by staff before the next guests arrive.

    The integrated resort likewise started to eliminate single-use plastic water bottles in their facilities. In order to do this, the Parañaque-based company recently enlisted the services of Swedish firm Nordaq to replace the harmful material with glass bottles.

    These are to be filled with filtered water directly within Okada’s property.

    Photo by: Miguel Louie de Guzman / Greenpeace
    Photo by: Miguel Louie de Guzman / Greenpeace

    “We go through thousands and thousands of plastic water bottles every month. Very soon they’ll be gone. You won’t see these around Okada Manila anymore,” exclaimed Rob while holding a single-use bottle.

    Okada Manila Vice President for Hotel Operations Robert Scott holds a plastic water bottle while explaining how they’re phasing out the problematic material out from their hotel and restaurant operations. Photo by: Rico Ibarra / Greenpeace

    ‘Okada Green Heart’

    All of the above initiatives form part of Okada Manila’s larger campaign, Okada Green Heart. Central to the initiative are its six pillars, namely: waste management, energy efficiency, water conservation, talent and community, safety, security and welfare, and responsible gaming.

    The program is anchored on the United Nations Sustainable Development Goals, a collection of 17 objectives providing for a “shared blueprint for peace and prosperity for people and the planet.” Okada Manila says that it wants to instill the Green Heart program not only in their operations but also for the purposes of community development.

    As part of the program, on-site composting alongside other initiatives such as recycling and upcycling of old uniforms are now taking place within their premises. Rooms are also now equipped with smart systems that optimize lighting, heating and cooling based on occupancy. Okada is currently aiming for 100% LED lighting across all outlets.

    Photo by: Miguel Louie de Guzman / Greenpeace

    The program not only targets the above-mentioned practices but also other hospitality tasks not usually attributed to the “greening” of an establishment.

    “We use different chemicals now that are more environmentally friendly, and they also allow us to wash our laundry at a lower temperature, which saves the energy that’s normally required to heat up that water,” Robert added.

    Photo by: Miguel Louie de Guzman / Greenpeace

    Plastics Treaty as blueprint for business guidelines

    The Intergovernmental Negotiating Committee (INC) to develop the world’s first international treaty to combat plastic pollution is set to reconvene once again this 2025 after UN member states failed to reach a consensus in the session held in Busan, South Korea last December.

    Environmental organizations have earlier called for an ambitious treaty, calling for a global plastic production reduction of at least 75% to regulate global warming. Over 100 countries have backed a proposal to introduce global reduction targets, only to be frustrated by a handful of oil producing states such as Saudi Arabia.

    “Through our Okada Green Heart program, we can really support a strong Global Plastics Treaty,” continued Robert, emphasizing that they could use it to further their sustainability goals as a business. “We can use it to consistently innovate and make some really impactful changes.”

    Photo by: Miguel Louie de Guzman / Greenpeace

    Okada Manila is just one of the many signatories of Champions of Change, a growing network of progressive businesses advocating for a strong Global Plastics Treaty. The group believes that it’s possible for entrepreneurs to operate without contributing to the worsening plastic crisis — provided that steps are made to make it easier for companies to do the right thing.

    “We’re really proud and excited to be part of Champions of Change. But it’s not just us. We need everybody to be involved in it, and every single business and every single person can be involved in this project and really make a difference,” he said.

    “It’s really important for our kids’ future and for future generations that we leave this world in a better place than it was when we found it.”

    Photo by: Greenpeace / Sungwoo Lee

    Want to show your support for a Strong Global Plastics Treaty? Sign this petition now.

    Support a strong Plastics Treaty!

    Help build a plastic-free future.

    SIGN THE PETITION

    MIL OSI NGO –

  • MIL-OSI New Zealand: Education – Success Tutoring expands globally with New Zealand centre launch

    Source: Success Tutoring

    The global tutoring revolution has arrived in New Zealand. Success Tutoring, Australia’s fastest growing and most innovative education and tutoring franchise, has officially opened its first centre in Papanui, Christchurch, marking the beginning of a bold global expansion into New Zealand, the United States, Canada, Singapore and the United Kingdom.
     
    “This is an incredibly exciting time for our company and for tutoring globally,” Success Tutoring founder and CEO, Michael Black said.
     
    “We have redefined how students learn in Australia and now we’re bringing that same energy and innovation to the world, starting right here in Christchurch.”
     
    Success Tutoring breaks away from the traditional one-size-fits-all tutoring model. Instead, it delivers a highly flexible, student-first approach, giving families unlimited access to personalised sessions through a subscription model that fits modern life.

    It’s more than academic support, it’s about building confidence, curiosity and a mindset for success.

    “Our students aren’t just lifting grades, they’re unlocking their potential,” Black said.

    “We’ve helped kids significantly improve their academic results, earn scholarships, get into selective schools and most importantly, feel proud of themselves again.”

    Results from across the Australian network in 2024 were outstanding with Success Tutoring seeing strong academic improvements in Math and English, scholarships and school-entry success for many students and the majority of students reported significant boosts in confidence and self-esteem.

    The Christchurch launch is being led by powerhouse pair Abhishek Gupta (Abhi) and Jalvanti Bhanderi (Jayvee), franchisees with a powerful combination of business smarts, education experience and passion for youth development.

    Gupta, with a master’s in economics and a background in banking, consulting and teaching, has spent years empowering learners. Bhanderi, who grew up in Nairobi and speaks four languages, brings a background in accounting, operations and people-focused leadership.

    “We’re not just running a tutoring centre, we’re creating a space where young people can grow, be inspired and realise what they’re capable of,” Gupta said.

    Bhanderi added that they have seen the gap, the average student who gets left behind. Success Tutoring is here in New Zealand to give all students the tools and support to soar.

    As the brand goes global, Success Tutoring is also offering a life-changing business opportunity for passionate tutors and entrepreneurs. With a turnkey system, national marketing and world-class support, the franchise model is designed to deliver exceptional results for students as well as franchise business owners.

    “The majority of Success Tutoring franchises are cashflow-positive from day one, deliver high profit margins and rapid growth potential and boast purpose-driven ownership backed by proven national systems,” Black said.

    “This is a business where your success is measurable in both income and impact. It’s a model that delivers for students, for families and for the people who run it.”

    With Christchurch opening and already accepting bookings, Success Tutoring is actively recruiting new franchisees across New Zealand, from Auckland to Queenstown, looking for people who want to change lives and build a business with heart.

    “We’re on a mission to empower the next generation and we’re calling on visionary leaders to join us,” Black said.

    “If you want to inspire, uplift and grow a business that matters, there’s never been a better time.”

    About Success Tutoring

    Founded by Michael Black in 2017, Success Tutoring is Australia’s fastest growing education centre with multiple locations and a further 150 cities planned worldwide by 2026. The company offers weekly tutoring sessions in English and Math for students aged five to 17, with a school readiness program for kids even younger, and selective school exam preparation tutoring also available. The Success Model not only empowers students to work at their own pace towards progress but also finds success in the social aspect of students coming together and working as a community of students to find motivation, inspiration and a lifelong love of learning.

    https://successtutoring.com.au/

    MIL OSI New Zealand News –

  • MIL-OSI Global: The world’s first museum was curated by a princess. A tour reveals the origins of the zodiac, calculus and writing

    Source: The Conversation – Global Perspectives – By Louise Pryke, Honorary Research Associate, Department of Classics and Ancient History, University of Sydney

    Archeological excavations at the palace grounds in Ur, modern-day Iraq, uncovered Ennigaldi-Nanna’s museum. M. Lubinski/Flickr/Wikimedia Commons, CC BY

    Around 2,500 years ago, a princess living in what is now modern-day Iraq collected a number of artefacts, including a statue, a boundary stone and a mace head. The items, which show signs of preservation, date from around 2100 BCE to 600 BCE. This collection, it is generally thought, was the world’s first known “museum”.

    Between Two Rivers, by Oxford scholar Moudhy Al-Rashid, tells the story of ancient Mesopotamia, a period in world history sometimes known as a “forgotten age”.

    While Mesopotamian history is innately fascinating, Al-Rashid also notes its many historical “world firsts”: the first known writing system, the potter’s wheel, the first record of beer production and advances in agriculture.

    Review: Between Two Rivers: Ancient Mesopotamia and the Birth of History – Moudhy Al-Rashid (Hodder Press)

    The first museum

    The world’s first known museum, and its curator, Ennigaldi-Nanna, are among these many firsts. The daughter of the Neo-Babylonian king Nabonidus, Ennigaldi-Nanna was a priestess at the temple of the moon deity, as well as a princess.

    Both Ennigaldi-Nanna and Nabonidus were keenly interested in history. Indeed, Nabonidus’ interest in excavating old temples and describing his findings once saw him described as the “first archaeologist”. This makes these figures well suited as the book’s central focus.

    At its heart, Between Two Rivers is an ode to the power of history. It builds a persuasive case for history writing as a particularly human impulse, and for how lives of people living thousands of years ago can reflect and shape our modern lives in unexpected ways.

    10 museum objects

    The book is organised around the ten items from Ennigaldi-Nanna’s collection. This structural conceit creates a sense of unity, despite the diversity of topics the book covers. Each chapter is focused on one item. For example, an ancient granite mace head introduces a chapter on warfare, violence and death.

    Moudhy Al-Rashid.
    Hachette

    In chapter one, we are introduced to ancient Mesopotamian history. We’re also introduced to the author herself. Al-Rashid punctuates her prose with personal recollections and humour, as well as touching reflections on her experience of motherhood. She is our companion, tour guide and teacher as we navigate this journey into the past, helping the reader feel a personal stake in the scholarly adventure ahead.

    Other chapters explore cuneiform script (the world’s first known writing), cities, leadership, education (including some of the earliest doodles by bored students), early scientific developments and the gods. The final three chapters look at economics, warfare and curator Ennigaldi-Nanna herself.

    The book offers a useful timeline, though pictures of the ten ancient items and a map would have been useful additions.

    Fun historical facts

    The broad range of subjects, periods and people explored in this book results in the inclusion of many dazzling features of Mesopotamian history, rarely considered together. Indeed, there is a plethora of fun historical facts.

    In the chapter on science, Al-Rashid notes the development of the zodiac and a mathematical precursor to modern calculus.

    Five Amarna letters on display at the British Museum.
    Osama Shukir Muhammed Amin/Wikimedia Commons, CC BY

    We get a brief overview of the fascinating diplomatic correspondence between New Kingdom Pharaohs and their West Asian vassals, known as the Amarna Letters. There is also the cuneiform tablet referencing the death of Alexander the Great, and an overview of the practice of divination (including an attempted palace coup).

    These highlights from ancient evidence are balanced against frequent commentary from the author. She notes the less glamorous nature of much of it, such as economic texts and legal agreements.

    Indeed, Al-Rashid is careful to note the limits of the evidence used to build this vivid picture of ancient Mesopotamia. She notes the difficulties of learning Sumerian, the world’s first known language, written in the intricate cuneiform script. In her chapter on leadership, she notes that further evidence for powerful women leaders may yet be discovered, while discussing what is currently known of these figures.

    Sumerian, the world’s first known language, was written in cuneiform – like the script on this clay tablet.
    Louvre, photographed by Gary Todd/Flickr

    The author’s transparency and expert handling of evidence puts the reader at ease, while subtly championing the importance of continued studies in this field. This is timely, as the academic field of Mesopotamian history has seen significant cuts in the last decade.

    Rediscovering cultural riches

    Despite the rich cultural legacy of this region, Mesopotamian history is largely unknown in the modern day. While 21st-century audiences are often familiar with the works of Plato, Homer and Virgil, they may struggle to identify Enheduanna – a princess, priestess, and poetess who lived over 4,000 years ago – as the world’s first known author, or Sin-leqe-uninni as the editor of the Epic of Gilgamesh.

    This is likely due to the circumstances around the recovery of the Mesopotamian writing script, cuneiform. This style of writing faded from use around the 1st century CE, and was only re-deciphered in 1857 CE. This meant that for almost two millennia, awareness of the Mesopotamian cultural legacy almost entirely disappeared.

    This modern lack of awareness of Mesopotamian history is slowly changing. Between Two Rivers is part of an emerging trend in the field of Assyriology — the study of the languages, literature, history, laws and sciences of Mesopotamia — for producing accessible works, for non-specialist audiences.

    Between Two Rivers further demonstrates the usefulness of this approach in bringing the riches of the ancient Near East to modern audiences.

    Changing times


    In recent years, we have seen new translations of the famous Mesopotamian epic Gilgamesh, and the first volume dedicated to the works of the world’s first known author, Enheduanna.

    There are new books on Mesopotamian religion and the cuneiform script by Irving Finkel, who has been an ambassador for the discipline for many years. Indeed, Al-Rashid notes his influence.

    To write a book like this one, the author needs to have both mastery over the subject material and an engaging style of communication. Al-Rashid excels in both areas. For general audiences, Between Two Rivers is a fascinating, balanced introduction to this complex – and at times elusive – ancient world.

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

    – ref. The world’s first museum was curated by a princess. A tour reveals the origins of the zodiac, calculus and writing – https://theconversation.com/the-worlds-first-museum-was-curated-by-a-princess-a-tour-reveals-the-origins-of-the-zodiac-calculus-and-writing-246876

    MIL OSI – Global Reports –

  • MIL-OSI Asia-Pac: Notes on Submission of Primary One Admission Application Form

    Source: Hong Kong Government special administrative region

    Parents intending to apply for a Primary One (P1) place of a particular government or aided primary school for their child at the Discretionary Places Admission stage under the Primary One Admission (POA) System via the POA e-Platform (ePOA) (epoa.edb.gov.hkIf parents are applying only for the POA Central Allocation for their child, they should submit the application to the EDB via ePOA or in paper form on or before January 17, 2025. For submission in paper form, they should return the completed application form and supporting documents to the School Places Allocation Section (Primary One Admission) of the EDB at Podium Floor, West Block, Education Bureau Kowloon Tong Education Services Centre, 19 Suffolk Road, Kowloon Tong.

    For details regarding POA 2025, parents may refer to the EDB’s POA Website (https://www.edb.gov.hk/en/edu-system/primary-secondary/spa-systems/primary-1-admission/index.html

    Enquiries

    Telephone Number

    General Enquiries

    2832 7700 / 2832 7740

    HK Island & Island

    2832 7610

    Kowloon

    2832 7620

    New Territories West

    2832 7635

    New Territories East

    2832 7659

    Suspected cases of using a false address for POA applications may be reported to the School Places Allocation Section by calling its hotline at 2832 7700.

     

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: Vancouver SUV attack exposes crowd management falldowns and casts a pall on Canada’s election

    Source: The Conversation (Au and NZ) – By Ali Asgary, Professor, Disaster & Emergency Management, Faculty of Liberal Arts & Professional Studies & Director, CIFAL York, York University, Canada

    A car attack at a Filipino street festival in Vancouver just two days before Canada’s federal election has killed at least 11 people and injured many more.

    The carnage along a street lined with food trucks took place shortly after one of the men vying to become Canada’s prime minister — New Democratic Party Leader Jagmeet Singh — attended the event. A shell-shocked Singh observed a moment of silence in Penticton, B.C., during another campaign stop the next day.

    A 30-year-old Vancouver resident has been arrested, but the motivation behind the attack is unknown.

    Vancouver police say the suspect has mental health issues and was known to police prior to the attack. Police also told a news conference there was no indication there was a need for extra policing at the festival, deeming it to have a “low threat level.”

    What goes into making that calculation, and is a public event ever truly low-risk?

    Vancouver police hold a news conference on the SUV attack. (CTV News)

    Difficulties of crowd management

    The Vancouver SUV attack is now classified as a crowd-related or mass gathering type of disaster. There have been cases of public vehicle-ramming attacks in Canada in the past, in particular the 2018 Toronto van attack that left 10 people dead.

    While it’s not yet known whether the Vancouver attack was targeted, there were clearly weaknesses in crowd management for such a large gathering. These types of attacks have been on the increase over the past decade and are now considered one of the prime threats to mass gatherings in public spaces and streets.

    Unfortunately, many mass gathering events do not allocate either sufficient resources or time for crowd management procedures, particularly those related to risk and emergency management.

    Organizing mass gathering events in public spaces should factor in different threats, including the potential for car ramming, and implement effective mitigation and preparedness measures.

    ‘Soft targets’

    Many public spaces where these events take place are vulnerable to car attacks. Evidence shows that mass gatherings are soft targets, meaning they’re easily accessible to large numbers of people and have limited security, protective and warning measures in place. Extreme precautions are needed to protect the public from such attacks so that they don’t become mass casualty events.

    Those in attendance should be aware that public spaces generally lack physical barriers, or the proper distribution of them, to resist car or vehicle attacks.

    While public awareness programs exist for other hazards such as flooding, earthquakes and extreme weather events, it’s now clear that such awareness and education are needed for mass public gatherings too.

    Police should be aware that relying on limited surveillance may not be sufficient to identify such threats at the scene. Vehicle access and traffic control should be in place throughout such events. Lack of warning systems to quickly inform the crowd about an ongoing attack further increases the impacts of vehicular attacks.

    Much of the focus on these types of events has been on the motivations of the attackers. Since a considerable number of vehicle-ramming attacks have been attributed to terrorism, communities or events with the perception of lower terrorism threats may not pay close enough attention to this type of threat.



    Read more:
    Toronto’s most recent car attack was a targeted crime, not a mass attack

    Impact on the election?

    Canadians aren’t likely to get many more details about the Vancouver attack until after voting day on Monday. Could the tragedy have an impact on the outcome of the federal election?

    Past and recent studies have drawn different conclusions about the impact of disasters on election results.

    According to what’s known as retrospective voting theory, voters judge governments on how they manage disasters, particularly highly publicized, tragic events, when casting their ballots. Voters can evaluate governments based on their handling of the disaster and the amount of effort they have put into minimizing risk.

    Some studies have found that local governments were rewarded after disaster events, including Calgary after the 2013 floods, several Italian municipal governments after earthquakes, local government officials in Brazil amid municipal drought declarations and civic elections in Japan after earthquakes, tsunamis and floods.



    Read more:
    Why Canada needs to dramatically update how it prepares for and manages emergencies

    Voters can and do punish or reward governments and elected politicians based on the effects of recent disasters on them and governments’ responses to them.

    But given how soon the Canadian election is being held after the disaster occurred — and the record number of voters who have already cast their ballots in advance polls — this tragedy isn’t likely to have a substantial impact.

    Hopefully, however, it will have an influence on how organizers, police and other authorities manage public crowds and events at a time when vehicle-ramming attacks are becoming a recurrent threat. Those elected this election should prioritize efforts to ensure communities can have safer mass gathering events.

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

    – ref. Vancouver SUV attack exposes crowd management falldowns and casts a pall on Canada’s election – https://theconversation.com/vancouver-suv-attack-exposes-crowd-management-falldowns-and-casts-a-pall-on-canadas-election-255395

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: Vancouver SUV attack exposes crowd management falldowns and casts a pall on Canada’s election

    Source: The Conversation – Canada – By Ali Asgary, Professor, Disaster & Emergency Management, Faculty of Liberal Arts & Professional Studies & Director, CIFAL York, York University, Canada

    A car attack at a Filipino street festival in Vancouver just two days before Canada’s federal election has killed at least 11 people and injured many more.

    The carnage along a street lined with food trucks took place shortly after one of the men vying to become Canada’s prime minister — New Democratic Party Leader Jagmeet Singh — attended the event. A shell-shocked Singh observed a moment of silence in Penticton, B.C., during another campaign stop the next day.

    A 30-year-old Vancouver resident has been arrested, but the motivation behind the attack is unknown.

    Vancouver police say the suspect has mental health issues and was known to police prior to the attack. Police also told a news conference there was no indication there was a need for extra policing at the festival, deeming it to have a “low threat level.”

    What goes into making that calculation, and is a public event ever truly low-risk?

    Vancouver police hold a news conference on the SUV attack. (CTV News)

    Difficulties of crowd management

    The Vancouver SUV attack is now classified as a crowd-related or mass gathering type of disaster. There have been cases of public vehicle-ramming attacks in Canada in the past, in particular the 2018 Toronto van attack that left 10 people dead.

    While it’s not yet known whether the Vancouver attack was targeted, there were clearly weaknesses in crowd management for such a large gathering. These types of attacks have been on the increase over the past decade and are now considered one of the prime threats to mass gatherings in public spaces and streets.

    Unfortunately, many mass gathering events do not allocate either sufficient resources or time for crowd management procedures, particularly those related to risk and emergency management.

    Organizing mass gathering events in public spaces should factor in different threats, including the potential for car ramming, and implement effective mitigation and preparedness measures.

    ‘Soft targets’

    Many public spaces where these events take place are vulnerable to car attacks. Evidence shows that mass gatherings are soft targets, meaning they’re easily accessible to large numbers of people and have limited security, protective and warning measures in place. Extreme precautions are needed to protect the public from such attacks so that they don’t become mass casualty events.

    Those in attendance should be aware that public spaces generally lack physical barriers, or the proper distribution of them, to resist car or vehicle attacks.

    While public awareness programs exist for other hazards such as flooding, earthquakes and extreme weather events, it’s now clear that such awareness and education are needed for mass public gatherings too.

    Police should be aware that relying on limited surveillance may not be sufficient to identify such threats at the scene. Vehicle access and traffic control should be in place throughout such events. Lack of warning systems to quickly inform the crowd about an ongoing attack further increases the impacts of vehicular attacks.

    Much of the focus on these types of events has been on the motivations of the attackers. Since a considerable number of vehicle-ramming attacks have been attributed to terrorism, communities or events with the perception of lower terrorism threats may not pay close enough attention to this type of threat.



    Read more:
    Toronto’s most recent car attack was a targeted crime, not a mass attack

    Impact on the election?

    Canadians aren’t likely to get many more details about the Vancouver attack until after voting day on Monday. Could the tragedy have an impact on the outcome of the federal election?

    Past and recent studies have drawn different conclusions about the impact of disasters on election results.

    According to what’s known as retrospective voting theory, voters judge governments on how they manage disasters, particularly highly publicized, tragic events, when casting their ballots. Voters can evaluate governments based on their handling of the disaster and the amount of effort they have put into minimizing risk.

    Some studies have found that local governments were rewarded after disaster events, including Calgary after the 2013 floods, several Italian municipal governments after earthquakes, local government officials in Brazil amid municipal drought declarations and civic elections in Japan after earthquakes, tsunamis and floods.



    Read more:
    Why Canada needs to dramatically update how it prepares for and manages emergencies

    Voters can and do punish or reward governments and elected politicians based on the effects of recent disasters on them and governments’ responses to them.

    But given how soon the Canadian election is being held after the disaster occurred — and the record number of voters who have already cast their ballots in advance polls — this tragedy isn’t likely to have a substantial impact.

    Hopefully, however, it will have an influence on how organizers, police and other authorities manage public crowds and events at a time when vehicle-ramming attacks are becoming a recurrent threat. Those elected this election should prioritize efforts to ensure communities can have safer mass gathering events.

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

    – ref. Vancouver SUV attack exposes crowd management falldowns and casts a pall on Canada’s election – https://theconversation.com/vancouver-suv-attack-exposes-crowd-management-falldowns-and-casts-a-pall-on-canadas-election-255395

    MIL OSI – Global Reports –

  • MIL-OSI New Zealand: Digging up the past for Archaeology Week

    Source: Auckland Council

    Sometimes to uncover Auckland’s past, you need to dig deep. Just ask Chris Mallows, Team Leader Cultural Heritage Implementation in Auckland Council’s Heritage Unit. He’s part of a team of archaeologists unearthing the fascinating history of Tāmaki Makaurau.

    Auckland’s rich and varied landscape – encompassing coastland, forest, wetlands, maunga and volcanic fields – mirrors the diverse heritage of the people who have settled here since around the 14th century. With Archaeology Week running from 3-11 May, it’s the perfect time to acknowledge the groundbreaking work of archaeologists who help further our knowledge of our region’s past.

    Archaeology is the study of past human societies through the analysis of material culture, including artefacts or the remains of buildings.

    “Archaeologists look at the physical evidence that’s left behind and interpret how people lived and worked in the past,” explains Chris.

    In Tāmaki Makaurau, archaeological work could involve everything from protecting maunga and Māori pā settlement sites, preservation of the Wilson Cement Works in Warkworth or uncovering artefacts from the former Queen Street Gaol that was on the corner of Queen and Victoria Streets from 1841-1865.

    “During an archaeological excavation, we’re always finding something new and expanding our understanding of how people lived in that specific area,” says Chris.

    Auckland Council’s archaeologists work on a range of projects including preservation work, providing advice on heritage sites and as well as reviewing on resource consent applications around areas with scheduled heritage sites.

    While fictional archaeologist Indiana Jones’ favourite tool was his whip, in reality archaeologists are more likely to be armed with a trowel. Excavating can be physically demanding and painstaking work, as archaeologists work carefully to uncover artefacts without damaging anything in the process. The sharp edge of the trowel is used to meticulously unearth fragile items, such as ceramics, from the earth.

    “Buying your first trowel is a bit like a rite of passage”, says Chris, who still has his first William Hunt and Sons trowel he received as a fledgling archaeologist in the UK.

    Archaeologists use trowels to carefully unearth artefacts without damaging any fragile parts. Chris Mallows still has his WHS trowel from his first excavation in the UK.

    “When you’re a field archaeologist, a trowel is the first tool you’ll ever get. It helps you excavate the small features in a controlled manner. For example, if you’re on a European-era site in Auckland dating from the 1860s or 1870s, you may use a trowel to find glass, ceramics, animal bones or other remnants that people were eating.”

    Other tools include sieves for sorting very small remnants, measurement tools for mapping out a site and a “good old fashioned spade and shovel”, Chris adds.

    While traditional excavation tools are still part of the work of an archaeologist, there have been a number of digital advances that make this work a little easier. Auckland Council’s archaeologists have access to LiDAR (Light Detection and Ranging) data. This technology uses laser light pulses emitted from a drone or plane to create three-dimensional maps of the environment.

    “LiDAR uncovers things that were previously hidden by the landscape. For example, on farmland, LiDAR has uncovered pits hidden by long grass which were later revealed to be kūmara pits (rua),” says Chris.

    Another modern tool is photogrammetry, a process of creating a 3D model of an artefact or structure using a series of overlapping photographs.

    Chris uses photographic scales to measure the site.

    “Photogrammetry is a great tool and allows our communities to see artefacts and heritage sites really easily,” says Chris. “Even if you can’t physically gain access to the artefacts – they may be a museum, for example, or you may not be able to travel to these sites – having photogrammetry allows anyone to look at them. It’s a really good tool for the future.”

    There have been a number of notable archaeological discoveries in Auckland, but one that sticks out to Chris is the Sunde Site on Motutapu Island. In 1958, archaeologist Rudy Sunde discovered what has since been spoken of as ‘New Zealand’s Pompeii’ when he found artefacts from a pre-European kainga (village).

    Later, in 1981, University of Auckland archaeologist Reg Nicol uncovered footprints of eight people and one dog beneath a layer of ash from Rangitoto Island. This is evidence that mana whenua living on or near Motutapu witnessed the eruption of Rangitoto in around 1400 CE.

    “What I find fascinating about this site is you have evidence of somebody going about everyday life and then you’ve got a volcanic eruption happening, and we can only wonder what that experience was like,” says Chris. “There’s a clear timeline of the eruption and you can see the people adapting to the changing climate because of the natural disaster.”

    Through archaeology, we can learn from the past and see how people adapted to change and use this to understand how we adapt to change in the future.”

    “Recent damage to an Auckland park by treasure hunters highlights why our heritage needs protecting”, says Chris.

    Mary Barrett Glade near Ngataringa Park in Devonport is a scheduled heritage place on Department of Conservation (DOC) land, and was unfortunately recently targeted by vandals looking to dig up vintage bottles. Auckland Council archaeologists are supporting DOC in the protection and restoration of the area.

    The site is the former location of Duder’s Brickworks, which operated between 1875 and 1942. The factory used clay from Ngataringa Bay to make ordinary and decorative bricks as well as sanitary pipes and chimney heads, and employed many Devonport locals up until the 1920s. The factory supplied clay bricks for many of the Edwardian buildings in Devonport including the pumphouse (now the PumpHouse Theatre).

    The PumpHouse Theatre is built with bricks from Duder’s Brickworks.

    Following a fire on Victoria Road in 1888, the Devonport Borough Council made a rule that buildings in the main shopping area were to be constructed from bricks only, and the bricks are part of the suburb’s its distinctive look.

    “The brickworks are part of Devonport’s industrial heritage and character. You never know what’s around the corner, so we do need to be vigilant in protecting our history. As archaeologists, we are the kaitiaki (guardians) of our heritage sites, preserving them for our future generations.”

    For more information about Archaeology Week and to see what events are on, head to the New Zealand Archaeological Association website.

    MIL OSI New Zealand News –

  • MIL-Evening Report: In talking with Tehran, Trump is reversing course on Iran – could a new nuclear deal be next?

    Source: The Conversation (Au and NZ) – By Jeffrey Fields, Professor of the Practice of International Relations, USC Dornsife College of Letters, Arts and Sciences

    A mural on the outer walls of the former US embassy in Tehran depicts two men in negotiation. Majid Saeedi/Getty Images

    Negotiators from Iran and the United States are set to meet again in Oman on April 26, 2025, prompting hopes the two countries might be moving, albeit tentatively, toward a new nuclear accord.

    The scheduled talks follow the two previous rounds of indirect negotiations that have taken place under the new Trump administration. Those discussions were deemed to have yielded enough progress to merit sending nuclear experts from both sides to begin outlining the specifics of a potential framework for a deal.

    The development is particularly notable given that Trump, in 2018, unilaterally walked the U.S. away from a multilateral agreement with Iran. That deal, negotiated during the Obama presidency, put restrictions on Tehran’s nuclear program in return for sanctions relief. Trump instead turned to a policy that involved tightening the financial screws on Iran through enhanced sanctions while issuing implicit military threats.

    But that approach failed to disrupt Iran’s nuclear program.

    Now, rather than revive the maximum pressure policy of his first term, Trump – ever keen to be seen as a dealmaker – has given his team the green light for the renewed diplomacy and even reportedly rebuffed, for now, Israel’s desire to launch military strikes against Tehran.

    Jaw-jaw over war-war

    The turn to diplomacy returns Iran-US relations to where they began during the Obama administration, with attempts to encourage Iran to curb or eliminate its ability to enrich uranium.

    Only this time, with the U.S. having left the previous deal in 2018, Iran has had seven years to improve on its enrichment capability and stockpile vastly more uranium than had been allowed under the abandoned accord.

    As a long-time expert on U.S. foreign policy and nuclear nonproliferation, I believe Trump has a unique opportunity to not only reinstate a similar nuclear agreement to the one he rejected, but also forge a more encompassing deal – and foster better relations with the Islamic Republic in the process.

    The front pages of Iran’s newspapers in a sidewalk newsstand in Tehran, Iran, on April 13, 2025.
    Alireza/Middle East Images/AFP via Getty Images

    There are real signs that a potential deal could be in the offing, and it is certainly true that Trump likes the optics of dealmaking.

    But an agreement is by no means certain. Any progress toward a deal will be challenged by a number of factors, not least internal divisions and opposition within the Trump administration and skepticism among some in the Islamic Republic, along with uncertainty over a succession plan for the aging Ayatollah Khamenei.

    Conservative hawks are still abundant in both countries and could yet derail any easing of diplomatic tensions.

    A checkered diplomatic past

    There are also decades of mistrust to overcome.

    It is an understatement to say that the U.S. and Iran have had a fraught relationship, such as it is, since the Iranian revolution of 1979 and takeover of the U.S. embassy in Tehran the same year.

    Many Iranians would say relations have been strained since 1953, when the U.S. and the United Kingdom orchestrated the overthrow of Mohammad Mossadegh, the democratically elected prime minister of Iran.

    Washington and Tehran have not had formal diplomatic relations since 1979, and the two countries have been locked in a decadeslong battle for influence in the Middle East. Today, tensions remain high over Iranian support for a so-called axis of resistance against the West and in particular U.S. interests in the Middle East. That axis includes Hamas in Palestine, Hezbollah in Lebanon and the Houthis in Yemen.

    For its part, Tehran has long bristled at American hegemony in the region, including its resolute support for Israel and its history of military action. In recent years that U.S. action has included the direct assaults on Iranian assets and personnel. In particular, Tehran is still angry about the 2020 assassination of Qassem Soleimani, the head of the Quds Force of the Islamic Revolutionary Guard Corps.

    Standing atop these various disputes, Iran’s nuclear ambitions have proved a constant source of contention for the United States and Israel, the latter being the only nuclear power in the region.

    The prospect of warmer relations between the two sides first emerged during the Obama administration – though Iran sounded out the Bush administration in 2003 only to be rebuffed.

    U.S. diplomats began making contact with Iranian counterparts in 2009 when Undersecretary of State for Political Affairs William Burns met with an Iranian negotiator in Geneva. The so-called P5+1 began direct negotiations with Iran in 2013. This paved the way for the eventual Iran nuclear deal, or Joint Comprehensive Plan of Action (JCPOA), in 2015. In that agreement – concluded by the U.S., Iran, China, Russia and a slew of European nations – Iran agreed to restrictions on its nuclear program, including limits on the level to which it could enrich uranium, which was capped well short of what would be necessary for a nuclear weapon. In return, multilateral and bilateral U.S. sanctions would be removed.

    Many observers saw it as a win-win, with the restraints on a burgeoning nuclear power coupled with hopes that greater economic engagement with the international community that might temper some of Iran’s more provocative foreign policy behavior.

    Yet Israel and Saudi Arabia worried the deal did not entirely eliminate Iran’s ability to enrich uranium, and right-wing critics in the U.S. complained it did not address Iran’s ballistic missile programs or support for militant groups in the region.

    Benjamin Netanyahu, Prime Minister of Israel, draws a red line on a graphic of a bomb while discussing Iran at the United Nations on Sept. 27, 2012.
    Mario Tama/Getty Images

    When Trump first took office in 2016, he and his foreign policy team pledged to reverse Obama’s course and close the door on any diplomatic opening. Making good on his pledge, Trump unilaterally withdrew U.S. support for the JCPOA despite Iran’s continued compliance with the terms of the agreement and reinstated sanctions.

    Donald the dealmaker?

    So what has changed? Well, several things.

    While Trump’s withdrawal from the JCPOA was welcomed by Republicans, it did nothing to stop Iran from enhancing its ability to enrich uranium.

    Meanwhile, Saudi Arabia, eager to transform its image and diversify economically, now supports a deal it opposed during the Obama administration.

    In this second term, Trump’s anti-Iran impulses are still there. But despite his rhetoric of a military option should a deal not be struck, Trump has on numerous occasions stated his opposition to U.S. involvement in another war in the Middle East.

    In addition, Iran has suffered a number of blows in recent years that has left it more isolated in the region. Iranian-aligned Hamas and Hezbollah have been seriously weakened as a result of military action by Israel. Meanwhile, strikes within Iran by Israel have shown the potential reach of Israeli missiles – and the apparent willingness of Prime Minister Benjamin Netanyahu to use them. Further, the removal of President Bashar al-Assad in Syria has deprived Iran of another regional ally.

    Tehran is also contending with a more fragile domestic economy than it had during negotiations for JCPOA.

    With Iran weakened regionally and Trump’s main global focus being China, a diplomatic avenue with Iran seems entirely in line with Trump’s view of himself as a dealmaker.

    A deal is not a given

    With two rounds of meetings completed and the move now to more technical aspects of a possible agreement negotiated by experts, there appears to be a credible window of opportunity for diplomacy.

    This could mean a new agreement that retains the core aspects of the deal Trump previously abandoned. I’m not convinced a new deal will look any different from the previous in terms of the enrichment aspect.

    There are still a number of potential roadblocks standing in the way of any potential deal, however.

    As was the case with Trump’s meetings with North Korean leader Kim Jong-un during his first term, the president seems to be less interested in details than spectacle. While it was quite amazing for an American leader to meet with his North Korean counterpart, ultimately, no policy meaningfully changed because of it.

    On Iran and other issues, the president displays little patience for complicated policy details. Complicating matters is that the U.S. administration is riven by intense factionalism, with many Iran hawks who would be seemingly opposed to a deal – including Secretary of State Marco Rubio and national security adviser Mike Waltz. They could rub up against newly confirmed Undersecretary of Defense for policy Elbridge Colby and Vice President JD Vance, both of whom have in the past advocated for a more pro-diplomacy line on Iran.

    As has become a common theme in Trump administration foreign policy – even with its own allies on issues like trade – it’s unclear what a Trump administration policy on Iran actually is, and whether a political commitment exists to carry through any ultimate deal.

    Top Trump foreign policy negotiator Steve Witkoff, who has no national security experience, has exemplified this tension. Tasked with leading negotiations with Iran, Witkoff has already been forced to walk back his contention that the U.S. was only seeking to cap the level of uranium enrichment rather than eliminate the entirety of the program.

    For its part, Iran has proved that it is serious about diplomacy, previously having accepted Barack Obama’s “extended hand.”

    But Tehran is unlikely to capitulate on core interests or allow itself to be humiliated by the terms of any agreement.

    Ultimately, the main question to watch is whether a deal with Iran is to be concluded by pragmatists – and then to what extent, narrow or expansive – or derailed by hawks within the administration.

    Jeffrey Fields receives funding from the Carnegie Corporation of New York.

    – ref. In talking with Tehran, Trump is reversing course on Iran – could a new nuclear deal be next? – https://theconversation.com/in-talking-with-tehran-trump-is-reversing-course-on-iran-could-a-new-nuclear-deal-be-next-254770

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI New Zealand: A Global Joint Statement Condemns Cancellation of International Religious Event in South Korea – NewzEngine.com

    Source: NewzEngine.com

    Gyeonggi Provincial Government’s Sudden Cancellation Raises Concerns of Bias and Violation of Rights

    An administrative decision by a South Korean government agency sparked international controversy, raising concerns about religious freedom.

    On November 27, religious leaders and opinion leaders delivered a joint protest statement to the Government of the Republic of Korea condemning the cancellation of the venue rental on October 29th as an act of biased religious oppression through public power.

    Signed by 402 organizations, 758 religious representatives, and 977 individuals across the globe, totalling 1,735 signatories, the statement emphasized the psychological and financial damage caused to the international participants and highlighted the need for accountability.

    On October 30 the “Religious Leaders Forum and Graduation Ceremony,” a joint initiative by two prominent religious organizations, was set to take place in Paju, South Korea. The event was expected to draw over 30,000 participants from 78 countries, including 1,000 religious leaders representing Christianity, Buddhism, Islam, and Hinduism.

    However, the Gyeonggi Tourism Organization (GTO), a public entity under Gyeonggi Province, abruptly canceled the venue rental at 11am on the morning of the event, when preparations were already underway.

    This decision, made without prior notice, has resulted in significant financial damage to the international event and its organizers. As the first clause of Article 20 of the South Korean Constitution states: “All citizens shall enjoy freedom of religion”, they argue that the cancellation constitutes an unconstitutional act of discrimination against a specific religion, violating religious freedom, human rights, and due process of law and an act that divides the people and divides the country into two.

    The Joint Protest Statement demands accountability for this situation and calls for an official apology from the Gyeonggi Provincial Government and the Gyeonggi Tourism Organization to both domestic and international religious organizations and the global community.

    It also requires the government to take appropriate disciplinary actions against the officials responsible for handling this matter and to strengthen fair and transparent venue reservation procedures and preliminary consultation systems.

    Over 88 global leaders including international law experts, religious leaders, education experts, heads of organizations, journalists from around the world sent official documents and protest letters to the Republic of Korea upon hearing the news of the cancellation of the event, expressing shock and disappointment at this administrative action and demanding prompt and appropriate measures.

    In particular, international law experts from around the world, including those with experience as prime ministers, vice ministers of justice, chief justices of the Supreme Court, presidents of the Constitutional Court, lawyers, and professors of international law, pointed out that the cancellation of the event on this day was an act that violated the Constitution, and religious leaders expressed concern that it was a biased decision and an anti-peaceful act that infringed on religious freedom.

    Since November 15, religious leaders and members of Shincheonji Church of Jesus have held rallies outside the Gyeonggi Provincial Office and Gyeonggi Tourism Organization, condemning the biased cancellation urging the government to address the issue and take measures to prevent recurrence.

    Timeline of Events Leading to the Cancellation
    ● July 22: Notification of approval for the rental from 29th to 31st October by GTO.
    ● October 2: Full payment of the rental fee.
    ● October 16: A working-level meeting held to discuss the event’s size, arrangements,
    safety plans, and special effects. The GTO reviewed all details and completed a
    safety inspection. While Paju City was designated a danger zone due to potential
    North Korean provocations, officials assured organizers that this designation would
    not impact the event.
    ● October 23 & 28: Officials confirmed twice that ‘there are no plans to cancel the
    rental’.
    ● October 28: A rally was hosted by ‘SUGICHONG’, a Christian council of capital area
    of Korea urging the cancellation of a venue rental.
    ● October 29: At 11 o’clock on the day of the rental while the event was being set up,
    the Gyeonggi Province Governor Kim Dong-yeon unilaterally notified the
    cancellation, citing security concerns related to recent North Korean actions and
    activities by a North Korean defector group. Organizers allege that pressure from
    opposing groups, including vested religious interests, influenced the decision.
    ● October 19-20, November 4: Notably, other events in the same area proceeded
    without disruption.

    – Published by MIL OSI in partnership with NewzEngine.com

    MIL OSI New Zealand News –