NewzIntel.com

Category: Asia

  • MIL-OSI Economics: Underwriting Auction for sale of Government Securities for ₹32,000 crore on April 11, 2025

    Source: Reserve Bank of India

    Government of India has announced the sale (issue/ re-issue) of Government Securities, as detailed below, through auctions to be held on April 11, 2025 (Friday).

    As per the extant scheme of underwriting commitment notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) auction, applicable to each Primary Dealer (PD), are as under:

    (₹ crore)
    Security Notified Amount MUC amount per PD Minimum bidding commitment per PD under ACU auction
    6.92% GS 2039 16,000 381 381
    New GS 2065 16,000 381 381

    The underwriting auction will be conducted through multiple price-based method on April 11, 2025 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E-Kuber) System between 09:00 A.M. and 09:30 A.M. on the day of underwriting auction.

    The underwriting commission will be credited to the current account of the respective PDs with RBI on the day of issue of securities.

    Ajit Prasad           
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/64

    MIL OSI Economics –

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on April 09, 2025

    Source: Reserve Bank of India

    Tenor 2-day
    Notified Amount (in ₹ crore) 25,000
    Total amount of bids received (in ₹ crore) 19,295
    Amount allotted (in ₹ crore) 19,295
    Cut off Rate (%) 6.01
    Weighted Average Rate (%) 6.02
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/65

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: HK prepared for holiday visitor surge

    Source: Hong Kong Information Services

    The Culture, Sports & Tourism Bureau today convened a meeting to co-ordinate the preparations for visitor arrivals to Hong Kong during the Mainland’s Labour Day Golden Week from May 1 to 5.

     

    Noting that the number of visitor arrivals will increase during the Labour Day Golden Week, which is Hong Kong’s peak travel season, Secretary for Culture, Sports & Tourism Rosanna Law, who hosted the meeting, explained that working together effectively is crucially important.

     

    “Government departments, relevant organisations and the trade will strengthen co-ordination and communication and do our best to welcome visitors arriving in Hong Kong with a view to creating a good travel experience for visitors.”

     

    The parties concerned will maintain close communication and take forward the preparations for welcoming the visitors, the bureau said, adding that they will make timely reports on the latest situation to the interdepartmental working group chaired by the Chief Secretary.

     

    Representatives from Police, Customs, the Immigration and Transport departments along with District Offices took part in today’s meeting.

     

    Tourism-related organisations including the Travel Industry Authority, Tourism Board, Travel Industry Council of Hong Kong, West Kowloon Cultural District Authority as well as major tourist attractions and the hotel industry also sent representatives to attend the meeting.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Chris Sun to visit Kuala Lumpur

    Source: Hong Kong Information Services

    Secretary for Labour & Welfare Chris Sun will depart tomorrow for Kuala Lumpur, Malaysia, to participate in the Guangdong-Hong Kong-Macao Greater Bay Area Talent Development Showcase organised by the Labour & Welfare Bureau and Hong Kong Talent Engage.

     

    The bureau explained that the event aims to promote Hong Kong’s opportunities and advantages under the “one country, two systems” principle, as well as its diverse career prospects, with a view to attracting local talent to pursue careers in Hong Kong.

     

    While in Kuala Lumpur, Mr Sun will also visit Universiti Malaya, and call on officials from the Malaysian Ministry of Human Resources and representatives of local chambers.

     

    Under Secretary for Constitutional & Mainland Affairs Clement Woo and Hong Kong Talent Engage Director Anthony Lau will join the trip. Other delegates include speakers of the showcase from various companies and industry associations, and representatives of nearly 40 top Greater Bay Area companies.

     

    Mr Sun will return to Hong Kong on April 12. In his absence, Under Secretary for Labour & Welfare Ho Kai-ming will be Acting Secretary.

    MIL OSI Asia Pacific News –

  • MIL-OSI: 21Shares Forms Exclusive Partnership with the House of Doge to Launch Dogecoin ETP in Europe

    Source: GlobeNewswire (MIL-OSI)

    Zurich, 9 April 2025 – 21Shares AG (“21Shares”), one of the world’s largest issuers of crypto exchange-traded products (ETPs), has formed an exclusive partnership with the House of Doge to create the only Dogecoin ETP endorsed by the Dogecoin Foundation, which will be listed on SIX Swiss Exchange (ticker: DOGE). This collaboration marks a major milestone in bringing institutional-grade exposure to Dogecoin, one of the most community-driven and widely recognised digital assets.

    Exchange Product Name Ticker ISIN Fee
    SIX Swiss Exchange 21Shares Dogecoin ETP DOGE CH1431521033 2.50%

    The 21Shares Dogecoin ETP is 100% physically backed, offering a transparent and seamless way for investors to gain exposure to Dogecoin through traditional financial channels. Originally launched in 2013 as a light-hearted alternative to Bitcoin, Dogecoin has since grown into one of the most widely recognised and accessible cryptocurrencies, known for its fast transaction speeds, low fees, and increasing merchant adoption. Today, leading brands such as Microsoft and AMC Theatres accept Dogecoin as a payment method, reinforcing its role in mainstream finance. 

    Beyond its technical advantages, Dogecoin has built a highly engaged and socially impactful community, rallying around the principle of “Do Only Good Everyday.” Over the years, its supporters have helped drive initiatives ranging from charitable fundraising to financial accessibility efforts, demonstrating the power of decentralised communities in shaping the future of digital finance.

    “With this exclusive partnership we’re providing investors with the most direct and accessible way to gain exposure to the Dogecoin ecosystem,” said Duncan Moir, President at 21Shares. “Dogecoin has become more than a cryptocurrency: it represents a cultural and financial movement that continues to drive mainstream adoption, and DOGE offers investors a regulated avenue to be part of this exciting project.”

    “This partnership marks a very large step forward for the Dogecoin vision,” said Jens Wiechers, Advisory Board Member at House of Doge and Co-Executive Director of the Dogecoin Foundation. “Dogecoin was created to be a fun, accessible form of peer-to-peer money, and over the years, it has demonstrated real-world utility in payments, tipping, and charitable giving. For Dogecoin to reach its full potential as a global currency, institutional support and corporate partnerships are essential. This initiative with 21Shares provides a regulated path for institutions to participate in and amplify the ‘Dogecoin is Money’ vision, while still honoring the community’s spirit. Global adoption is critical, and we’re excited to take this next step – ensuring Dogecoin stays fun, but gains the credibility and backing needed to thrive at scale.”

    “Our partnership with 21Shares demonstrates the evolving maturity and legitimacy of Dogecoin in the financial world,” said Sarosh Mistry, President and CEO of Sodexo North America and Director-Elect of House of Doge. “Institutional products will empower new types of investors to participate in the Dogecoin ecosystem, reinforcing its role as a leader in the future of digital assets.”

    With over $7.3 billion in assets under management and listings on 11 major exchanges, including SIX Swiss Exchange, Nasdaq, and Euronext, 21Shares continues to drive the integration of digital assets into mainstream finance.

    Notes to editors

    About 21Shares

    21Shares is one of the world’s leading cryptocurrency exchange traded product providers. We were founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. In 2018, 21Shares listed the world’s first physically-backed crypto ETP, and we have a seven-year track-record of creating crypto exchange-traded funds that are listed on some of the biggest, most-liquid securities exchanges globally. In addition to our seven-year track record, 21Shares offers investors best-in-class research and unparalleled client service.

    21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com.

    About House of Doge

    The House of Doge is the official corporate arm of the Dogecoin Foundation, committed to transforming Dogecoin into a fully integrated and accessible global payment platform and currency. The House of Doge’s mission is to advance the mainstream adoption of Dogecoin by enhancing its utility through real-world applications.

    About Dogecoin Foundation

    The Dogecoin Foundation is a nonprofit organization committed to developing open-source technology that enhances Dogecoin’s accessibility and utility as a peer-to-peer digital currency.

    Media Contact
    Matteo Valli
    matteo.valli@21shares.com

    DISCLAIMER

    This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG in any jurisdiction. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever or for any other purpose in any jurisdiction. Nothing in this document should be considered investment advice.

    This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful.

    This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States. Neither the US Securities and Exchange Commission nor any securities regulatory authority of any state or other jurisdiction of the United States has approved or disapproved of an investment in the securities or passed on the accuracy or adequacy of the contents of this presentation. Any representation to the contrary is a criminal offence in the United States.

    Within the United Kingdom, this document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iii) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (iv) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

    Exclusively for potential investors in any EEA Member State that has implemented the Prospectus Regulation (EU) 2017/1129 the Issuer’s Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com.

    The approval of the Issuer’s Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the Issuer’s Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.

    This document constitutes advertisement within the meaning of the Prospectus Regulation (EU) 2017/1129 and the Swiss Financial Services Act (the “FinSA”) and not a prospectus. The 2024 Base Prospectus of 21Shares AG has been deposited pursuant to article 54(2) FinSA with BX Swiss AG in its function as Swiss prospectus review body within the meaning of article 52 FinSA. The 2024 Base Prospectus and the key information document for any products may be obtained at 21Shares AG’s website (https://21shares.com/ir/prospectus or https://21shares.com/ir/kids).

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    The MIL Network –

  • MIL-OSI China: 18 more key enterprises set up, expand business in HK

    Source: China State Council Information Office

    Another 18 enterprises in high-tech industries signed agreements to establish or expand their businesses in Hong Kong, the Hong Kong Special Administrative Region (HKSAR) government said on Tuesday.

    The enterprises, along with the 66 companies that signed on earlier, will invest about 50 billion Hong Kong dollars (6.43 billion U.S. dollars) in Hong Kong and create over 20,000 jobs.

    The enterprises are from such industries as advanced manufacturing and new energy, life and health technology, artificial intelligence and data science, as well as fintech. They all pledged to set up global headquarters, regional headquarters or research centers in Hong Kong.

    Hong Kong treasures not only the investments, jobs and expertise that the enterprises bring along, but also their products and solutions that will transform people’s ways of life and inspire new innovation, said Paul Chan, financial secretary of the HKSAR government, at the signing ceremony.

    “Hong Kong remains steadfast in our commitment to upholding our free-port status and free trade, maintaining our simple and low-tax system, and building a vibrant innovation and technology ecosystem with a full range of funding support,” he said. 

    MIL OSI China News –

  • MIL-OSI: Valeura Energy Inc.: Q1 2025 Operations and Financial Update

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, April 09, 2025 (GLOBE NEWSWIRE) — Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) (“Valeura” or the “Company”) is pleased to provide an update on Q1 2025 operations.

    Highlights

    • Operations continuing smoothly, with oil production averaging 23.9 mbbls/d(1);
      • Continual programme of development and appraisal drilling throughout the quarter;
      • Strong ongoing safety performance, with no lost time injuries;
    • Strong cash position at March 31, 2025 of US$238.3 million, and no debt;
      • Taxes paid of US$39.2 million in Q1;
      • Repurchased 963,401 shares in Q1;
    • Resilient ongoing business based on strong balance sheet and cash flow, creating growth optionality in the current volatile climate.

    (1) Working interest share oil production, before royalties.

    Dr. Sean Guest, President and CEO commented:

    “Our strong operational and financial performance continued throughout Q1 2025, and our business is more resilient than ever. With our corporate restructuring completed in November 2024, and the final tax payment under the previous structure now behind us, we see an energised ability to generate cash flow as we look at the remainder of 2025. 

    We are carefully monitoring the current volatile market conditions while simultaneously reviewing and optimising our expenditures. However, our strong financial position with cash of US$238 million and no debt makes Valeura not only resilient, but also well positioned for attractive inorganic opportunities that may emerge during such a turbulent market environment.

    Notwithstanding the recent market volatility, we are maintaining all of our previously disclosed guidance assumptions for the year.” 

    Q1 2025 Update

    Valeura’s working interest share production before royalties averaged 23.9 mbbls/d during Q1 2025, a decrease of 8.4% from Q4 2024. Rates were affected by a planned seven-day annual maintenance shutdown of the Nong Yao field near the end of the quarter. All planned work on the Nong Yao facilities was conducted safely and under time and budget with production resuming on April 1, 2025. Valeura re-iterates its full year 2025 production guidance outlook of 23.0 – 25.5 mbbls/d.

    Oil sales totalled 1.88 million bbls during Q1 2025, less than the 2.15 million bbls produced. Sales were lower than in Q4 2024 and reflect the fact that at the beginning of the quarter, the Company had record low crude oil in inventory. At the end of the quarter Valeura had 0.89 million bbls in inventory, which is expected to be sold in Q2 2025 (including a lifting of approximately 0.25 million bbls which was sold on April 1, 2025).

    Price realisations averaged US$78.7/bbl during Q1 2025, reflecting a US$2.9/bbl premium over the Brent crude oil benchmark. Oil revenue during Q1 2025 was US$148.1 million, 35% lower than Q4 2024. The quarter-on-quarter difference is due to less oil volumes sold, and also one sale occurring very late in the quarter, for which revenue is expected to be received in April 2025. Accordingly, the Company recorded a receivable associated with that lifting of approximately US$30 million as at March 31, 2025.

    In addition to routine operating costs and planned capital spending, the Company has made a final tax payment of US$39.2 million in connection with its corporate restructuring that was completed in November 2024. This payment effectively completes the tax obligations for its Thai III licences under their previous organisation structure, and became due in Q1 2025, earlier than usual tax payments for Thai III licences which are payable in May and August of each year. Following the restructuring, petroleum income tax loss carry-forwards that were previously associated with only the Wassana asset are now being applied to all of the Company’s Thai III petroleum concessions, being Wassana, Nong Yao, and Manora, thereby resulting in a more efficient tax structure for the business.

    While the Company acknowledges the global market and oil price volatility experienced in early April 2025, at this time, Valeura re-affirms all of its guidance outlook expectations for 2025. The Company maintains a scenario-based approach to planning its investments, driven largely by forecast oil prices. Recent market conditions underscore the importance of such an approach, but more importantly highlight the value of maintaining a strong balance sheet so as to capitalise on emerging inorganic growth opportunities. As of March 31, 2025, Valeura had US$238.3 million in cash, with no debt.

    During the quarter, the Company acquired 963,401 shares as part of its NCIB programme.

    Operations Update

    Valeura provided an operations update on March 25, 2025, along with its announcement of results for Q4 and the full year 2024. Since that time, the Company has been conducting a drilling campaign on the Jasmine / Ban Yen field, and will provide an update in due course. 

    On March 28, 2025, an earthquake struck central Myanmar, which borders Thailand to the north-west. All Valeura’s personnel were confirmed safe, and all facilities continue to operate safely.

    Results Timing and AGM

    Valeura intends to release its full unaudited financial and operating results for Q1 2025 on May 14, 2025, and will discuss the results in more detail through a management webcast hosted in conjunction with its Annual General Meeting of Shareholders (the “meeting”) later that day. The notice of meeting and related Management’s Information Circular have been mailed to shareholders and are available on the Company’s website at www.valeuraenergy.com/governance and on SEDAR+ at www.sedarplus.ca.

    For further information, please contact:

    Valeura Energy Inc. (General Corporate Enquiries)
    +65 6373 6940
    Sean Guest, President and CEO
    Yacine Ben-Meriem, CFO
    Contact@valeuraenergy.com

    Valeura Energy Inc. (Investor and Media Enquiries)
    +1 403 975 6752 / +44 7392 940495
    Robin James Martin, Vice President, Communications and Investor Relations
    IR@valeuraenergy.com

    About the Company

    Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

    Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

    Advisory and Caution Regarding Forward-Looking Information

    Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project”, “target” or similar words suggesting future outcomes or statements regarding an outlook.

    Forward-looking information in this news release includes, but is not limited to, the Company’s anticipated full year 2025 guidance assumptions, being full year working interest share oil production before royalties of 23.0 – 25.5 mbbls/d, capex of US$125 – 150 million, exploration expense of approximately US$11 million, and adjusted opex of US$125 – 245 million, all as more fully described in the January 9, 2025 press release; the anticipated receivable of approximately US$30 million as at March 31, 2025; and Valeura’s expectation that it will benefit from a more efficient tax structure as a result of the corporate restructuring. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

    Forward-looking information is based on management’s current expectations and assumptions regarding, among other things: political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; ability to achieve extensions to licences in Thailand and Türkiye to support attractive development and resource recovery; future drilling activity on the required/expected timelines; the prospectivity of the Company’s lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; the impact of conflicts in the Middle East; royalty rates and taxes; management’s estimate of cumulative tax losses being correct; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company’s reserves and contingent resources; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the availability and identification of mergers and acquisition opportunities; the ability to successfully negotiate and complete any mergers and acquisition opportunities; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; international trade policies; future debt levels; and the Company’s continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner. In addition, the Company’s work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners’ plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

    Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company’s ability to manage growth; the Company’s ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; the risk that the Company’s tax advisors’ and/or auditors’ assessment of the Company’s cumulative tax losses varies significantly from management’s expectations of the same; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, including international treaties and trade policies; the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity. See the most recent annual information form and management’s discussion and analysis of the Company for a detailed discussion of the risk factors.

    Certain forward-looking information in this news release may also constitute “financial outlook” within the meaning of applicable securities legislation. Financial outlook involves statements about Valeura’s prospective financial performance or position and is based on and subject to the assumptions and risk factors described above in respect of forward-looking information generally as well as any other specific assumptions and risk factors in relation to such financial outlook noted in this news release. Such assumptions are based on management’s assessment of the relevant information currently available, and any financial outlook included in this news release is made as of the date hereof and provided for the purpose of helping readers understand Valeura’s current expectations and plans for the future. Readers are cautioned that reliance on any financial outlook may not be appropriate for other purposes or in other circumstances and that the risk factors described above or other factors may cause actual results to differ materially from any financial outlook.

    The forward-looking information contained in this news release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This news release is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful. 

    Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

    The MIL Network –

  • MIL-OSI Global: Child sexual exploitation and abuse is a multibillion-dollar industry – new report shows who benefits

    Source: The Conversation – UK – By Deborah Fry, Professor of International Child Protection Research and Director of Data at the Childlight Global Child Safety Institute, University of Edinburgh

    271 EAK MOTO/Shutterstock

    The sexual exploitation and abuse of children has become a multibillion-dollar global trade. The chilling reality of this profit-driven, highly lucrative industry is laid bare by new findings from myself and colleagues at the University of Edinburgh’s Childlight Global Child Safety Institute.

    Our new report shows child abuse isn’t just a crime restricted to a hidden corner of the dark web. Based on a review of 20 publications across multiple disciplines (including big data reports, systematic reviews, discussion papers and qualitative studies), the report paints a picture of the financial mechanisms enabling abuse on a global scale.

    Our previous work estimated that 3.5% of children globally had experienced sexual extortion in the last year. This is when children and their families face threats to share sexual content of a child if they do not comply with monetary demands.

    Offenders aren’t the only ones who profit. Financial institutions, tech companies and online payment platforms — sometimes unknowingly, sometimes by omission — facilitate the flow of profits made from the abuse of children. Some of the money moves through legitimate payment systems and advertising revenue streams. Other financial flows are deliberately obscured through cryptocurrencies and the dark web.

    Many organisations do take proactive steps to detect and report this activity. Inhope, a global network of hotlines, works with law enforcement and tech companies to remove child sexual abuse material and disrupt the associated financial streams. And the National Center for Missing & Exploited Children in the US receives and acts on reports from tech companies of child sexual abuse material, alerting companies and authorities to suspicious financial activity.

    But these systems remain inadequately checked or challenged by financial regulators and laws.

    Sexual extortion has also spawned the creation of companies that provide cybersecurity and reputation management services to victims to combat the extorters. Fees are often paid upfront and can amount to thousands of dollars. In effect, this forces victims to pay for a solution to the crime committed against them.

    An estimated 3.5% of children globally had experienced sexual extortion in the last year.
    Andrew Angelov/Shutterstock

    There is also a market for the sale of child sexual abuse material, both recorded and livestreamed, delivering profit for the offender and the systems they use. One video file of on-demand child sexual abuse can cost US$1,200 (£940). With the estimated prevalence of technology-facilitated abuse experienced by 300 million children annually, this is a massive industry.

    The scale of profit is staggering, in contrast with the price some perpetrators pay to sexually abuse children. One particularly haunting finding is abusers paying as little as 27 pence (UK) to offend against children.

    Taken together, the industry is estimated to reach multiple billions of dollars annually.

    While the financial value placed on a child may be measured in pennies, the lifelong cost to that child in trauma, health and opportunity is incalculable. It is a grotesque marketplace where takings are vast and suffering is immeasurable.

    Changing markets

    Our findings also expose how perpetrators themselves are rapidly changing their approach, constantly exploiting gaps in legislation and regulatory frameworks to continue harming children.

    For example, we find in the Philippines, a livestreaming hotspot, that technology is enabling large organised crime syndicates to be replaced by smaller, covert groups. Often operating within families, these perpetrators have profited as crime shifts online, facilitated by cryptocurrency and digital payment systems.

    The proliferation and growing sophistication of generative artificial intelligence (AI) has also opened troubling new frontiers. Child abusers can now produce realistic AI-generated child sexual abuse material, using the photos of real children in order to extort. This can make detection harder and muddy the water in terms of legal accountability. Many jurisdictions are still playing catch-up.



    Read more:
    Our research on dark web forums reveals the growing threat of AI-generated child abuse images

    Stopping the flow of money and abuse

    The world’s financial and tech infrastructure — knowingly or unknowingly — has become complicit in sustaining these crimes. In some cases, advertising revenue generated from abusive content on mainstream platforms flows back into criminal networks with little-to-no intervention. Cryptocurrencies allow for rapid and anonymous transfers of payment between perpetrators and content creators.

    There is no one-size-fits-all approach to preventing child sexual exploitation, and the changing nature of the market and technology makes it even harder.

    One promising measure is the use of blocklists — lists of known child sexual abuse material that, once identified, can be blocked across major internet service providers. These lists compiled and shared by organisations including Internet Watch Foundation are proving invaluable in stopping people from accessing abuse material.

    However, even here, our findings are disturbing. On average, there are five attempts per second globally to access material that has already been placed on these blocklists.

    We need to start addressing child sexual exploitation and abuse as a public health emergency, with a coordinated response to halt its growth. This requires not just reactive law enforcement measures, but proactive prevention strategies that tackle the financial and technological ecosystems that sustain the abuse. For example, imposing regulation and sanctions on financial institutions that do not take appropriate steps to prevent their services being exploited.

    Deborah Fry receives funding from Human Dignity Foundation and UK Research and Innovation.

    – ref. Child sexual exploitation and abuse is a multibillion-dollar industry – new report shows who benefits – https://theconversation.com/child-sexual-exploitation-and-abuse-is-a-multibillion-dollar-industry-new-report-shows-who-benefits-252431

    MIL OSI – Global Reports –

  • MIL-OSI China: Chinese rescue teams leave Myanmar after completing mission

    Source: China State Council Information Office

    The China Search and Rescue Team, the China International Search and Rescue Team, and the search and rescue team from the Hong Kong Special Administrative Region left Myanmar on Wednesday after completing their mission in the earthquake-stricken areas.

    Before their departure, a ceremony was held at Myanmar’s Social Welfare, Relief and Resettlement Ministry. Soe Win, vice chairman of the State Administration Council, presented a letter of gratitude to the Chinese teams.

    The teams have boarded four Chinese Air Force planes to return home from Myanmar’s capital Nay Pyi Taw.

    Myanmar’s Deputy Minister for Foreign Affairs U Lwin Oo, and Cao Jing, chargé d’affaires of the Chinese Embassy in Myanmar, saw them off at the airport. 

    MIL OSI China News –

  • MIL-OSI Submissions: US tariffs on Vietnamese imports trigger strategic pivot as growth forecast trimmed to 6.5% for 2025: GlobalData

    Source: GlobalData

    Following the news that the 10% US import tariff, including a 46% hike specifically targeting Vietnamese goods, will take effect on 09 April 2025;

    Annapurna Pillutla, Analyst, Economic Research at GlobalData, a leading data and analytics company, offers her view:

    “In response to the US tariffs, Vietnam reaffirmed its commitment to fair trade and transparency. Diplomatic engagement has been stepped up, with efforts to negotiate exemptions and clarify Vietnam’s trade and monetary policies. Vietnam is eliminating tariffs on US imports following Trump’s announcement of a 46% levy. Vietnam also proposed zero tariffs on the US goods and requested a delay of 45 days in tariff implementation, aiming for a mutually beneficial agreement.

    “Vietnam’s economy is heavily dependent on the export of goods and services, which constitute nearly 100% of its GDP. In 2024, goods exports to the US amounted to $136.6 billion, representing 30.1% of Vietnam’s GDP. The sharp escalation in tariffs on Vietnamese imports signals a critical juncture in Vietnam-US trade dynamics. Given the US accounts for close to a third of Vietnam’s GDP through goods exports, the latest measures introduce significant downside risks, particularly to export-reliant industries such as textiles and footwear, where cost pressures and competitive positioning are already under strain. “Against this backdrop, GlobalData has revised the forecast of Vietnam’s GDP growth to 6.5% in 2025, down from 6.7%, as demand from one of its largest trading partners softens.

    “This development is expected to fast-track Vietnam’s strategic shift toward economic diversification. Beyond intensified trade negotiations, the government is now likely to double down on initiatives to attract high-value foreign investment, scale up digital capabilities in manufacturing, and strengthen bilateral trade ties with economies in the EU, India, and Latin America. Over time, such moves could reduce Vietnam’s exposure to single-market volatility and set the foundation for more resilient and balanced growth.”

    About GlobalData

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

    MIL OSI – Submitted News –

  • MIL-OSI Economics: Samsung Unveils Odyssey Gaming Monitors, First-Ever Glasses-Free 3D & 4K 240Hz OLED in India

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand, today announced the availability of the 2025 line-up of Odyssey gaming monitors, which includes the revolutionary glasses-free Odyssey 3D, the industry-first 4K 240Hz Odyssey OLED G8, and the ultra-immersive curved Odyssey G9.
     
    Designed to push immersion and performance, these monitors cater to gamers, content creators, and professionals demanding superior visual fidelity. The new 27” Odyssey 3D (G90XF model) is a game-changer for the Indian market with its ground-breaking Glasses-free 3D gaming experience.
     
    Available in sizes of 27” and 32”, the Odyssey OLED G8 (G81SF model) sets a new industry benchmark as the world’s first 4K OLED monitor with a 240Hz refresh rate. The Odyssey G9 (G91F model) delivers an unmatched ultra-wide experience with a 49” Dual QHD display and a 1000R curved screen, wrapping high-quality visuals especially playing 32:9 or 21:9 games.
     
    “At Samsung, we have remained committed to democratizing cutting-edge display technology, making world-class innovation accessible to Indian consumers. With the introduction of the innovative Odyssey 3D, Odyssey OLED G8, and Odyssey G9 monitors, we are not just bringing global firsts to India but also elevating the way gamers experience immersion, speed and visual excellence,” said Puneet Sethi, Vice President, Enterprise Business, Samsung India.
     
    Odyssey 3D: India’s First Glasses-Free 3D Gaming Monitor
    Featuring advanced eye-tracking technology and view mapping algorithms, it delivers high-definition, stunning 3D visuals that make games and video content more lifelike. The Reality Hub app detects the video content and offers a choice to run it in 3D.
     
    Samsung is actively collaborating with major global game developers, including Nexon for The First Berserker: Khazan to optimize this next-gen 3D technology.
     
    Beyond gaming, the Odyssey 3D features AI-powered video conversion, transforming standard content into 3D infusing new energy to almost all content. With 165Hz refresh rate, 1ms response time, AMD FreeSync Support, Odyssey 3D ensures smooth, lag-free gameplay. Spatial Audio (built-in speakers) and the Edge Lighting feature further enhance gaming experience, bringing games out of the screen and into your world.
     
    Odyssey OLED G8: Industry-First 4K 240Hz OLED Gaming Monitor
    Powered by Quantum Dot technology, the Odyssey OLED G8 delivers enhanced colours, deep contrast, and superior viewing angles. VESA DisplayHDR TrueBlack 400 certification ensures near-infinite contrast, making vibrant colours pop even at typical brightness levels of 250 nits. Samsung’s proprietary OLED Safeguard+ and Dynamic Cooling System extend screen longevity that effectively cools down the screen temperature to prevent burn-in by applying the Pulsating Heat Pipe to monitor for the first time ever.
     
    The glare-free technology, certified by Underwriters Laboratories (UL), makes the screen 56% less glossy for distraction-free gaming. With 240Hz refresh rate and 0.03ms response time, the Odyssey OLED G8 ensures a smoother viewing experience eliminating lag time and motion blur for exhilarating game-play with ultra-smooth action.
     
    The Odyssey OLED G8 is designed to upgrade any gaming station with its slim metal body, Core Lighting+ and ergonomic stand.
     
    Odyssey G9: Expanding the Ultrawide Gaming Revolution
     
    Certified with VESA DisplayHDR 600 and HDR10+ GAMING, the Odyssey G9 enhances brightness, contrast, and colour range for vivid, dynamic visuals.
     
    With 144Hz refresh rate, 1ms response time, and AMD FreeSync Premium, the Odyssey G9 ensures seamless gameplay free from tearing and stuttering.
     
    Not just that, multitasking is made effortless with Picture-by-Picture and Picture-in-Picture modes, allowing users to view content from multiple sources simultaneously. The Auto Source Switch+ feature further streamlines the experience by instantly detecting and displaying connected devices.
     
     Price and Offers
     
    Model
    Listing Price (INR)
    Odyssey 3D G90XF
    127299
    Odyssey G8 27″ G81SF
    91299
    Odyssey G8 32″ G81SF
    118999
    Odyssey G9 49″ G91F
    94099
     
    Customers can avail launch benefits of upto INR 10,000/-. The products are available on Samsung.com, leading online platforms and retailers across India.
     
     
     

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN gives interview to Malaysian National News Agency (BERNAMA)

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today granted an interview to the Malaysian National News Agency (BERNAMA) on the sidelines of the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting in Kuala Lumpur, Malaysia. During the interview, he highlighted ASEAN’s efforts in advancing sustainability and inclusivity during Malaysia’s Chairmanship of ASEAN in 2025.

    The post Secretary-General of ASEAN gives interview to Malaysian National News Agency (BERNAMA) appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Security: U.S. Military Support to Search and Rescue Efforts in Thailand Conclude

    Source: United States INDO PACIFIC COMMAND

    BANGKOK, Thailand — At the request of the Kingdom of Thailand, more than 100 U.S. Army, Marine, Air Force and Navy servicemembers from U.S. Indo-Pacific Command deployed to Thailand March 28 to April 4 to assist Thai military and first responders in search and rescue efforts after a 7.7 magnitude earthquake affected Thailand and its neighbor countries on March 28, 2025.

    MIL Security OSI –

  • MIL-OSI Submissions: Asia-Pacific ministers to tackle urban challenges and shape path for future cities at upcoming UN meet

    Source: United Nations – ESCAP

    Home to over 2.2 billion city dwellers and many of the planet’s largest megacities, Asia and the Pacific is the world’s urban powerhouse. But the region also faces a number of challenges, with population growth slowing and key vulnerabilities, such as economic volatility, climate-related risks and social disparities, requiring integrated sustainable development strategies.
     
    Ministers and other key stakeholders will gather this April at the 81st session of the Economic and Social Commission for Asia and the Pacific to underscore the critical role of regional cooperation in overcoming the challenges faced in cities and advocate shared approaches to realize the ambitions of the global development agendas, including the 2030 Agenda for Sustainable Development, the Paris Agreement and the New Urban Agenda.
     
    Discussions at the session will also be guided by the theme study Urban Transformation in Asia and the Pacific which explores the future of urbanization, focusing on the dynamic shifts in the region’s urban landscape. It highlights the region’s demographic transformations, including population ageing and the persistent challenges of urban poverty and inequality. The analysis covers urban areas of all sizes, from megacities to smaller towns, and emphasizes the need for innovative governance models and sustainable development strategies to meet the region’s unique urban needs.
     
    Various side events and an Urban Innovations Fair will also be held at the United Nations Conference Centre in Bangkok throughout the week.

    MIL OSI – Submitted News –

  • MIL-OSI Economics: Money Market Operations as on April 08, 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) 6,55,461.23 6.10 3.50-6.40
         I. Call Money 14,970.37 6.15 5.15-6.25
         II. Triparty Repo 4,18,997.90 6.06 5.85-6.15
         III. Market Repo 2,19,925.71 6.17 3.50-6.35
         IV. Repo in Corporate Bond 1,567.25 6.37 6.35-6.40
    B. Term Segment      
         I. Notice Money** 117.00 6.05 5.60-6.10
         II. Term Money@@ 478.00 – 6.10-6.30
         III. Triparty Repo 4,124.00 6.13 6.00-6.15
         IV. Market Repo 1,249.24 6.20 6.20-6.20
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Tue, 08/04/2025 1 Wed, 09/04/2025 23,515.00 6.26
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Tue, 08/04/2025 1 Wed, 09/04/2025 385.00 6.50
    4. SDFΔ# Tue, 08/04/2025 1 Wed, 09/04/2025 1,63,624.00 6.00
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,39,724.00  
    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          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       6,859.01  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     6,859.01  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -1,32,864.99  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on April 08, 2025 9,42,962.22  
         (ii) Average daily cash reserve requirement for the fortnight ending April 18, 2025 9,31,571.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ April 08, 2025 23,515.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on March 21, 2025 1,11,247.00  
    @ 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. 2024-2025/2082 dated February 05, 2025, Press Release No. 2024-2025/2138 dated February 12, 2025, and Press Release No. 2024-2025/2209 dated February 20, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/60

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN delivers keynote address at the ASEAN Investment Conference 2025

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today delivered a keynote address at the ASEAN Investment Conference 2025 in Kuala Lumpur, Malaysia. In his remarks, Dr. Kao stressed the vital role of strengthening connectivity to foster sustainable and inclusive investment opportunities in ASEAN.

    Download the full keynote address here.

    The post Secretary-General of ASEAN delivers keynote address at the ASEAN Investment Conference 2025 appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN to participate in the World Expo 2025 in Osaka, Japan

    Source: ASEAN

    At the invitation of the Government of Japan, Secretary-General of ASEAN, Dr. Kao Kim Hourn, will lead the ASEAN Secretariat’s delegation to participate in the World Expo 2025, in Osaka, Japan, on 12-14 April 2025. The visit of SG Dr. Kao will entail a series of engagements focusing on ASEAN’s participation at the World Expo 2025, visiting Pavilions of ASEAN Member States, as well as meetings with various stakeholders based in Osaka. SG Dr. Kao will officiate the ASEAN Pavilion and, among others, deliver remarks in support of Malaysia’s ASEAN chairmanship this year at the International Trade and Industry Week, organized by the Ministry of Investment, Trade and Industry of Malaysia, at the Expo Hall.

    Taking full advantage of his time in Osaka, SG Dr. Kao will also engage with the Osaka Prefecture Governor and the Osaka Chamber of Commerce and Industry to further promote ASEAN’s potentials including in the areas of trade, investment, tourism and connectivity. Additionally, SG Dr. Kao will also be received by the ASEAN-Japan Centre during this visit, and will deliver a special lecture on the topic of ‘ASEAN-Japan Comprehensive Strategic Partnership: Partnership for Peace, Prosperity and People’ at the Kansai University, in Osaka, to convey ASEAN’s narrative to the younger generation.
    The post Secretary-General of ASEAN to participate in the World Expo 2025 in Osaka, Japan appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Security: Postured and Ready: MRF-D 25.3 deploys across the Pacific

    Source: United States INDO PACIFIC COMMAND

    DARWIN, Australia — Marine Rotational Force – Darwin (MRF-D) 25.3 has commenced its 14th iteration, projecting its operational reach well beyond northern Australia. While most of the force has successfully closed in Darwin, a portion of the ground combat element deployed directly from Camp Pendleton, California, to the Philippines to train with the Philippine Marine Corps’ (PMC) 1st Marine Brigade in Mindanao.

    MIL Security OSI –

  • MIL-OSI USA: Case Introduces Measure To Coordinate Diplomacy And Engagements Among And With Indigenous Peoples Around The World

    Source: United States House of Representatives – Congressman Ed Case (Hawai‘i – District 1)

    (Washington, DC) — U.S. Representative Ed Case (Hawai‘i-First District) today announced introduction of his Indigenous Diplomacy and Engagement Act  “to ensure that our country’s foreign affairs efforts fully encompass and incorporate the independent interconnectedness of our world’s indigenous peoples.”

    “The estimated 476 million indigenous peoples spread across all parts of our world are bound together by a common heritage, common wisdom and common challenges that transcend often artificial lines of national sovereignty,” said Case in remarks on introduction. “To recognize their international status and leverage their collective knowledge, in 2007 the international community adopted the United Nations Declaration on the Rights of Indigenous Peoples.”

    “Rather than step away from the international stage, we must redouble efforts for meaningful engagement wherever and however we can. This includes strengthening our relationships and partnerships with international indigenous peoples to more fully include their special perspective and connectedness in an inextricably interlinked world.”

    Case said that his proposal arose in part from the success of the 13th Festival of Pacific Arts and Culture, a gathering of the indigenous peoples of Oceania in Honolulu in June 2024. “The Pacific Festival was a powerful reminder of the interconnectedness of the indigenous peoples of the Pacific and of mutual commitment across national boundaries to addressing the challenges of our times, and we should take those lessons in our own responses.”

    Case further said that, to better coordinate focus on indigenous peoples worldwide and engage internationally on issues important to indigenous peoples, including Native Hawaiians, his bill would create an Office for Indigenous Affairs at the Department of State responsible for coordinating all efforts of the federal government regarding diplomacy and engagements with international indigenous peoples.

    “The office would be headed by a Coordinator for Indigenous Affairs, appointed by the President with the advice and consent of the Senate. The coordinator would be tasked with establishing a comprehensive international strategy for promoting diplomacy and engagement with indigenous peoples.”

    “The strategy would be developed in coordination with various federal departments and agencies as well as an Advisory Commission on Indigenous Peoples established by the bill. The Commission would consist of members appointed by the Secretary of State, President Pro Tempore of the Senate and the Speaker of the House, as well as representatives from the National Congress of American Indians, Alaska Federation of Natives and Office of Hawaiian Affairs, the representative entities for the largest groups of our country’s own indigenous peoples. This will help more directly link our nation’s indigenous peoples with efforts to build relationship with those in other countries.”

    Case added that his bill would also require Foreign Service Officers to be trained on the history and culture of indigenous communities that reside near their posts of assignment. He said Foreign Service Officers will often be the primary American officials for interaction with these communities and should be well versed in specific indigenous peoples’ issues.

    ·        Copy of bill is here

    ·        Case remarks in the Congressional Record is here

    ·        Pictures of Congressman Case at the Closing Ceremony for the Festival of Pacific Arts and Culture on June 16, 2024

     

    ###

     

    MIL OSI USA News –

  • MIL-OSI China: Hong Kong-Zhuhai-Macao Bridge sees record-high passenger, vehicle flows during Qingming holiday

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

    Hong Kong-Zhuhai-Macao Bridge sees record-high passenger, vehicle flows during Qingming holiday

    During the Qingming Festival holiday, the Hong Kong-Zhuhai-Macao Bridge in south China recorded over 365,000 passenger trips and 75,000 vehicle crossings at its Zhuhai port – both setting new records for the holiday period.

    MIL OSI China News –

  • MIL-OSI Economics: Timor-Leste Economic Outlook Remains Optimistic for 2025–2026 — ADB

    Source: Asia Development Bank

    Timor-Leste’s economic growth outlook is positive, with the economy projected to grow at an average annual rate of 3.9% from 2025 to 2026. This growth is driven by robust consumer demand and an expansionary fiscal policy, according to a new report released by ADB.

    MIL OSI Economics –

  • MIL-OSI China: Chinese energy giants announce share purchases to boost market confidence

    Source: China State Council Information Office

    Several Chinese central State-owned energy enterprises announced share purchase initiatives on Tuesday, underscoring their robust confidence in the long-term prospects of China’s economy and capital market.

    The combined value of the moves could exceed 10 billion yuan ($1.38 billion), they say.

    China National Petroleum Corporation disclosed that it will buy A-shares and H-shares over the next year, with a total investment of up to 5.6 billion yuan, while China Petroleum and Chemical Corporation announced a similar 12-month purchase plan worth up to 3 billion yuan targeting shares listed in Shanghai and the Hong Kong Special Administrative Region.

    China Huaneng Group Co Ltd said that its subsidiary has already initiated share purchases, while China National Coal Group also detailed a multi-tiered investment strategy.

    The announcements come amid renewed efforts by State-owned enterprises to stabilize market expectations during a period of heightened volatility.

    MIL OSI China News –

  • MIL-OSI China: 18 more key enterprises set up, expand business in Hong Kong

    Source: China State Council Information Office

    Another 18 enterprises in high-tech industries signed agreements to establish or expand their businesses in Hong Kong, the Hong Kong Special Administrative Region (HKSAR) government said on Tuesday.

    The enterprises, along with the 66 companies that signed on earlier, will invest about 50 billion Hong Kong dollars (6.43 billion U.S. dollars) in Hong Kong and create over 20,000 jobs.

    The enterprises are from such industries as advanced manufacturing and new energy, life and health technology, artificial intelligence and data science, as well as fintech. They all pledged to set up global headquarters, regional headquarters or research centers in Hong Kong.

    Hong Kong treasures not only the investments, jobs and expertise that the enterprises bring along, but also their products and solutions that will transform people’s ways of life and inspire new innovation, said Paul Chan, financial secretary of the HKSAR government, at the signing ceremony.

    “Hong Kong remains steadfast in our commitment to upholding our free-port status and free trade, maintaining our simple and low-tax system, and building a vibrant innovation and technology ecosystem with a full range of funding support,” he said. 

    MIL OSI China News –

  • MIL-OSI China: Global markets plunge as ‘reciprocal tariffs’ spark fears on Black Monday

    Source: China State Council Information Office

    Traders work on the floor of the New York Stock Exchange in New York, the United States, April 3, 2025. [Photo/Xinhua]

    Major stock indexes across the globe plunged sharply on Monday, as investors dumped riskier assets amid mounting fears over U.S. President Donald Trump’s sweeping tariffs.

    Panic sentiments took hold of the market once trading opened in the morning. The day of April 7, with similarities to the 1987 stock market crash, is being seen as another “Black Monday” by analysts and the media.

    Washington’s controversial new set of tariffs has stirred tensions since its announcement on Wednesday, hitting global markets hard, sparking backlash from other countries and drawing widespread criticism from economists and investors.

    Global turbulence 

    Major markets across the globe witnessed a turbulent day.

    Three major benchmarks of the U.S. stock market met with major setbacks on Monday.

    The S&P 500 Index, which is composed of 500 leading companies listed in the United States, dived as much as 21.41 percent from its record high on Feb. 19 and entered the technical territory of the bear market in the morning session.

    As of 9:40 a.m. Eastern time (1340 GMT), the Dow Jones Industrial Average lost 2.63 percent, the S&P 500 shed 3.14 percent, and the Nasdaq Composite Index dropped by 3.85 percent.

    Later, false reports that the White House would pause most of Trump’s tariffs for 90 days had pumped up the market, leading to a sudden surge. However, as the White House denied the news, the market declined again. The up and down within hours indicate how desperate investors were for any potential relief from the tariffs.

    All the leading European benchmark indexes opened in the red on Monday, down by 4 to 7 percent compared with the closing prices on the previous trading day.

    Britain’s blue-chip stock index, the FTSE 100, dropped by about 5 percent, France’s CAC 40 went down by over 5 percent, and the pan-European STOXX 600 index dropped over 6 percent in morning trade.

    Germany’s DAX index was among the hardest-hit, opening down by 9.5 percent before paring back part of the losses later in the morning. The significant gains since the beginning of the year have thus been almost completely wiped out.

    The S&P/ASX 200 — Australia’s benchmark share market index — closed down 4.2 percent on Monday in a plunge worth more than 100 billion Australian dollars (60.1 billion U.S. dollars). The Australian Broadcasting Corporation reported that it was the index’s biggest one-day fall since May 2020.

    Singapore’s Straits Times Index on Monday plunged by 8.7 percent at the open. The sharp drop marked the index’s steepest single-day decline since an 8.9 percent plunge during the 2008 global financial crisis, and exceeded the 8.4 percent fall seen in March 2020 amid COVID-19.

    A pedestrian passes a screen showing stock market information in Tokyo, Japan, April 7, 2025. [Photo/Xinhua]

    Fear and fury 

    The aggressive tariffs that triggered the global stock market plunge have drawn widespread criticism of the U.S. government, amid fear and fury across the globe.

    Trump’s tariffs have a shocking effect on stock markets, Gilles Moec, chief economist at AXA Group, told Les Echos, a French economy-specialized daily.

    “This shock has no real precedent in history, which amplifies market volatility because investors have no point of reference,” he said.

    Moec noted that the current damage to global stock markets is “entirely self-inflicted by the U.S. authorities,” unlike past stock market crises which were reflections of then macroeconomic situations.

    Richard Branson, British entrepreneur and co-founder of Virgin Group, said it is time for Washington to change course. “Otherwise, America will face ruin for years to come,” he warned.

    Branson noted that companies should be given enough time to adapt, and the current market response is preventable.

    Hasan Tevfik, a research analyst at advisory firm MST Marquee, also warned of severe consequences for the U.S. economy.

    “The U.S. economy has endured a barrage of headwinds, all self-inflicted, and the end consequence will be a contraction in the economy that was humming along, exceptionally, over the last couple of years,” he told the Australian Financial Review newspaper.

    This photo taken on April 7, 2025 shows a screen at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea. [Photo/Xinhua]

    Independent Australian economist Saul Eslake noted the uncertainty surrounding Trump’s next decisions and what he called the “madness” of the White House. He warned that the impact on the Australian economy was likely to be worse than the Treasury’s forecast that the country is well-placed to avoid a recession despite the “damage” being done by the U.S. tariffs.

    Doom and gloom 

    Investors have lost trillions of dollars since the tariff announcement on Wednesday. Recession odds are rising, and massive trade wars are looming. With no constructive response in sight, market confidence has been severely hit.

    DBS economists in a weekly review released on Monday noted that global markets and economies are still struggling to absorb the seismic tariff shock, with risk aversion and market selloff.

    “The key reason for that is that despite the spate of announcements, there is still substantial fear that more measures are to come. Perhaps more critical is the notion that nations trying to do a deal with the U.S. will not be able to rest easy upon signing agreements, as no deal with the U.S. seems to be reliable any longer,” wrote DBS economists Taimur Baig and Radhika Rao.

    David Gerald, president of the Securities Investors Association (Singapore), told The Straits Times, “If tariffs are sustained, they could contribute to higher inflation and slower global growth, which may in turn trigger further volatility and potential sell-offs in markets globally, including Singapore.”

    Germany’s Friedrich Merz, who is expected to become the next chancellor, also fears that U.S. trade policy could further escalate the turmoil in global stock markets. “The situation on international equity and bond markets is dramatic and threatens to worsen further.”

    JPMorgan Chase CEO Jamie Dimon warned on Monday, “The recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession.”

    MIL OSI China News –

  • MIL-OSI China: GM China joint venture reports 71.3 pct surge in NEV sales in Q1

    Source: China State Council Information Office

    SAIC-GM-Wuling (SGMW), a joint venture between SAIC Motor, General Motors and Liuzhou Wuling Motors, reported robust new energy vehicle (NEV) sales in the first quarter of 2025, selling 199,078 units, with a 71.3 percent year-on-year growth.

    NEVs accounted for 52.8 percent of the company’s total vehicle sales in Q1, during which overall auto sales reached 377,257 units, up 12.3 percent year on year.

    The company also recorded a strong export performance in the first quarter, with overseas NEV shipments rising 8.2 percent year on year to 53,385 units/sets.

    SGMW plans to accelerate its electrification efforts in global markets, with an upcoming entry into Central Asia and an expanded presence in the ASEAN region, according to the company.

    SGMW is based in the city of Liuzhou, south China’s Guangxi Zhuang Autonomous Region. 

    MIL OSI China News –

  • MIL-OSI China: MPay can be used in Guangzhou public transport

    Source: China State Council Information Office 2

    Macao residents can now use their familiar MPay e-wallet to scan and ride on all public transport in Guangzhou. [Photo provided to China Daily]
    MPay, Macao’s most frequently used local electronic wallet, has become the second overseas e-wallet approved for use on public transportation in Guangzhou, Guangdong province, following Hong Kong’s AlipayHK.
    Since early April, Macao residents have been able to use MPay to access all public transportation routes in Guangzhou. The expansion allows residents from both of China’s special administrative regions to travel more conveniently within the Guangdong-Hong Kong-Macao Greater Bay Area.
    The service, a collaboration between Guangzhou Metro Group, MPay and Alipay+, is part of Ant Group’s fintech offerings. Through Alipay+’s cross-border services, Macao residents can use MPay to scan and pay for rides across all public transportation in Guangzhou, including metro lines, buses and ferries. The service also extends to metro lines in Foshan, a city neighboring Guangzhou.
    Guangzhou is the first city on the Chinese mainland to support full access for e-wallets from all parts of the Greater Bay Area, reinforcing the region’s goal of seamless connectivity.
    Currently, tourists from the Chinese mainland use Alipay when visiting Hong Kong and Macao, while visitors from those regions use AlipayHK and MPay, respectively, when traveling to the mainland.
    With the new service, Macao residents can not only use MPay for cross-border transactions, but also for seamless travel on all Guangzhou public transportation routes, paying in Macao currency in real time. They will also receive the same discounts as local passengers under Guangzhou’s public transportation fare policies, according to Guangzhou Metro Group.
    “By integrating with the Guangzhou public transportation system, this not only sets a benchmark for cross-border commuting within the Greater Bay Area but also helps promote the deep integration of the ‘one-hour living circle’ within the region,” said Sun Ho, chairman and CEO of Macau Pass, MPay’s operating company.
    Alipay+ has previously enabled AlipayHK to connect to public transportation in key Greater Bay Area cities, including Guangzhou, Shenzhen and Foshan.
    Last year, Hong Kong users of AlipayHK recorded more than 10 million cross-border transportation trips heading northward, according to Alipay+ data.
    “The high-frequency cross-border transportation services are a daily necessity for the interconnected life of residents in the Greater Bay Area,” said Venetia Lee, Greater China general manager of Ant International.
    Alipay+ plans to expand e-wallet integration in the Greater Bay Area beyond transportation, aiming to include services such as healthcare and government affairs, Lee said.
    “Our goal is to provide more inclusive support for residents in cross-border travel, work, family visits and daily life, using innovative technology to enhance the region’s digital ecosystem,” she said.

    MIL OSI China News –

  • MIL-OSI China: China Pavilion to delight visitors at Expo 2025

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

    A media day event at the China Pavilion of Expo 2025 in the Japanese city of Osaka offered a preview of exhibitions centered on green development, cutting-edge technologies, and the vision of harmonious coexistence between humanity and nature.

    Held on Monday, the China Media Day event showcased the pavilion’s design and displays, all unified under the core theme: “Building a Community of Life for Man and Nature — Future Society of Green Development”.

    Li Qingshuang, deputy head of the China Council for the Promotion of International Trade and government representative for the China Pavilion, said: “The exhibitions at the China Pavilion closely align with the expo’s theme and emphasize immersion, interactivity and experience. The presentation methods are diverse, blending tradition and modernity, and rich in cultural sentiment.”

    Covering an area of around 3,500 square meters, the China Pavilion stands as one of the largest foreign self-built pavilions at Expo 2025, also known as the World Expo, which will open in Osaka on Sunday and run for six months.

    During the expo, the Walker C humanoid robot, developed by UBTech Robotics, will interact with visitors at the south plaza of the China Pavilion, offering intelligent tour guide services and human-robot interaction experiences.

    The mythological figure Sun Wukong, also known as the Monkey King, will make an appearance at the China Pavilion. This version of Sun Wukong is powered by a next-generation cognitive intelligence model developed by Chinese information technology company iFlytek. It integrates cutting-edge technologies such as robust noise-resistant speech recognition, multiemotion voice synthesis and multimodal interaction.

    Visitors will be able to engage in interactive Q&A sessions with Sun Wukong in Chinese, Japanese and English.

    One of the highlights at the China Pavilion will be samples brought back from the moon by the Chang’e 5 and Chang’e 6 lunar probes.

    “This will be the most precious exhibit the China Pavilion presents to global visitors during Expo 2025.It will also be the world’s first side-by-side, close-up display of samples from both the near and far sides of the moon,” Li said.

    She emphasized that visitors will have the opportunity to observe the distinct structures of the lunar samples and the subtle differences between both sides of the moon through a specially designed lens installation. Nearby, a video message from three Chinese astronauts aboard the space station will offer greetings to visitors at the China Pavilion.

    According to Liu Shuo, deputy director of the China Pavilion, its design was inspired by traditional bamboo slips, incorporating cultural elements such as bamboo and Chinese characters.

    The pavilion will be in three sections, each highlighting a different facet of China’s approach to sustainability — its traditional ecological philosophy, contemporary green development efforts, and the vision for global collaboration toward a sustainable future.

    The “Harmony Between Humanity and Nature” section delves into traditional Chinese culture, emphasizing the deep-rooted wisdom and reverence the Chinese people have for the natural world.

    The “Green Mountains and Clear Waters” section presents China’s modern commitment to green development, showcasing its efforts to drive comprehensive economic and social transformation through sustainable practices.

    The “Endless Vitality” section looks to the future, featuring China’s exploration of outer space and the deep sea, and its dedication to working with the international community to build a greener and more beautiful Earth.

    The Future Smart City exhibition, organized by China Energy Engineering Group, presents a vision for future urban development. It integrates eight types of urban networks — including energy, digital, transportation and industrial networks — demonstrating China’s technological breakthroughs and practical applications in areas such as clean energy, artificial intelligence and urban development.

    Liu said the China Pavilion will host a wide variety of events during the expo. The pavilion will officially open on Sunday, and the National Pavilion Day falls on July 11.

    Thirty Chinese provinces, autonomous regions, municipalities and the city of Shenzhen will hold themed events at the pavilion. Additionally, many government agencies and businesses will organize cultural, technological and economic exchange activities.

    MIL OSI China News –

  • MIL-Evening Report: Chinese-Australian voters were key to Labor’s win in 2022. Are some now swinging back to the Liberals?

    Source: The Conversation (Au and NZ) – By Wanning Sun, Professor of Media and Cultural Studies, University of Technology Sydney

    Chinese-Australian voters were pivotal to Labor’s win in the 2022 election, with the swing against the Liberals in several key marginal seats almost twice that of other seats.

    Many traditionally pro-business Liberal supporters switched sides in protest against the Coalition’s anti-China rhetoric under then-Prime Minister Scott Morrison. This exacerbated the widespread anti-Chinese racism many people felt in the wake of the COVID pandemic.

    A new survey by Sydney Today, a digital Chinese-language media outlet, suggests Labor will most likely retain the support of many of these Chinese-Australian voters.

    Nearly two-thirds (64%) of the 3,000 respondents in the ongoing survey have said they would vote for Labor in the upcoming federal election, while just 27% were backing the Liberals, 2% the Greens and 5% independents.

    If these results mirror the views of the wider Chinese-Australian community, it bodes well for Labor’s prospects, at least in seats with a high concentration of Chinese-Australian voters.

    However, Labor may not succeed in improving on its performance in the last election. One in five voters said they would vote differently this time compared to 2022, with 55% of this group indicating they would switch from Labor to the Coalition and just 18% going the other way.

    When asked why they were changing their vote, 51% said economic management, while 26% said Australia–China relations.

    Survey respondents were predominantly first-generation migrants from China. Nearly four in five were born outside Australia, but have lived here for more than ten years. Most (73%) were Australian citizens and eligible to vote.

    What issues are most important

    The 2021 census counted approximately 1.39 million Australian residents with Chinese heritage, around 536,000 of whom were born in mainland China. As this group continues to grow rapidly, first-generation Chinese-Australians are becoming a significant political force.

    The survey results reveal a complex and shifting picture of party loyalties and preferences among these voters.

    Participants were asked to identify one issue out of a list of 17 that concerns them most in this election. This list included things such as housing, income, taxes, welfare, health, education, immigration and the environment. The economy ranked first with 14% of respondents, followed closely by Australia–China relations (12%).

    The fact that many Chinese-Australians see the Liberals as better economic managers may account for the shift back to the party among some swing voters.

    Yet, most Chinese-Australians seem to agree Labor has handled Australia–China relations much better than the Liberals. This may be why the majority of respondents overall have preferred to stick with Labor.

    About 70% of respondents said they would consider voting for a party that is friendly to Chinese-Australian communities, while 72% said they would consider voting for a party that adopts a moderate approach to China.

    Opposition Leader Peter Dutton, long a hardline critic of the Chinese Communist Party, has attempted to soften his stance in the lead-up to this election. He said last year, for instance, he was “pro-China” and wanted to see the trade between the two countries double.

    In recent days, however, he has attacked Prime Minister Anthony Albanese for his “weak” response to the presence of a Chinese research vessel off the coast of Australia.

    Some Chinese-Australian voters would prefer Australia to adopt a more independent foreign policy that is less reliant on the US for its national security. Research suggests Chinese-Australians tend to be more critical of the bipartisan AUKUS agreement with the United States and United Kingdom than the general public.

    And I’ve observed anecdotal evidence in conversations with Chinese-Australian voters suggesting some are unhappy with both major parties’ positions on China and the US. This is convincing a small number of rusted-on Labor supporters to consider voting for the Greens, minor parties or independents.

    Support for Chinese candidates not a guarantee

    There is a widespread assumption that ethnic voters tend to vote for a candidate who shares their cultural or ethnic background. This seems to be the thinking behind both major parties’ choice of candidates to run in electorates with high concentrations of Chinese voters.

    The Liberals’ preselection of Grange Chung (Reid), Scott Yung (Bennelong), and Howard Ong (Tangney) are cases in point.

    But the survey indicates this may not be a foolproof strategy. When asked whether they would support a candidate on the basis of their Chinese or Asian appearance, respondents were split down the middle. Only slightly more than half (52%) said they would.

    Much can change between now and election day on May 3. Whether the Liberals can retain the small swing they seem to have gained among Chinese-Australians may depend on Dutton’s stance on China. They will no doubt be watching closely to see what he says.

    Wanning Sun 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. Chinese-Australian voters were key to Labor’s win in 2022. Are some now swinging back to the Liberals? – https://theconversation.com/chinese-australian-voters-were-key-to-labors-win-in-2022-are-some-now-swinging-back-to-the-liberals-254052

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Security: Silicon Valley Start-Up Founder Sentenced To 2.5 Years In Prison For Securities Fraud

    Source: Office of United States Attorneys

    Former YouPlus CEO Shaukat Shamim Presented False Financial and Product Information to Raise Money for his Artificial Intelligence Startup

    SAN FRANCISCO – Shaukat Shamim was sentenced to 30 months in federal prison in connection with his scheme to defraud investors into investing in the technology start-up he founded and led, announced Acting United States Attorney Patrick D. Robbins and FBI Special Agent in Charge Sanjay Virmani. The sentence was handed down April 7 by the Hon. James Donato, U.S. District Judge.

    Shamim, 53, of Santa Clara, Calif., pleaded guilty to the charges on September 16, 2024.  According to agreed facts in the plea agreement, Shamim founded Silicon Valley-based YouPlus in 2013.  By 2015, the focus of YouPlus was to develop artificial intelligence software tools to analyze online video content.  From its inception until Shamim resigned from the company in November 2019, YouPlus raised approximately $17 million from investors, including angel investors and venture capital firms.

    Shamim admitted that he made false representations to investors and potential investors about YouPlus’s product, sales, and customer adoption. For example, Shamim told investors that YouPlus had developed a search engine that used neural networks to analyze videos and predict marketing outcomes despite knowing that YouPlus had not, in fact, developed software with fully operational artificial intelligence functionalities. Instead, to perform pilot projects or marketing studies, YouPlus had employees in India manually review videos and then create PowerPoint presentations with marketing insights. Shamim also admitted to investors and prospective investors about YouPlus’s revenue and customers. Shamim admitted that, in August and September 2018 he prepared and provided to prospective investors documents that claimed that YouPlus had customers who had signed up for continuing services and paid recurring subscription fees.  In fact, no customers had signed on to pay monthly fees for the service.  Shamim provided some victims a spreadsheet that showed 90 customers were paying a total of $600,000 per month. Nevertheless, in reality, every one of the purported customers were paying for YouPlus subscriptions and YouPlus had only ever earned minimal revenue—less than $200,000 total—working on small and non-recurring projects.

    In February 2019, Shamim told investors that Youplus had earned $4.6 million in revenue in the year 2018, when in fact its revenue was less than $100,000 that year.  In May 2019, Shamim falsely claimed that YouPlus had earned $3.5 million in revenue in only the first four months of 2019 when, in reality, YouPlus ultimately earned less than $280,000 in revenue for all of 2019.

    By September 2019, YouPlus was running short on cash and Shamim was seeking to raise money for YouPlus in a Series A financing from venture capital investors. During the same time period, Shamin, also sought bridge loans from existing investors to cover YouPlus’s costs.  In connection with these efforts to raise funds, investors and potential investors requested that Shamim provide more detailed financial information about YouPlus and populate a data room with bank statements, customer contracts, and other materials that would back up the revenue Shamim claimed YouPlus was earning.  Shamim admitted that, in response to these requests and to conceal the fact that he had previously provided false information about YouPlus revenue, Shamim altered bank statements for YouPlus’s bank accounts in India and the United States.  The false documents reflected revenue Shamim knew did not exist.  For example, Shamim altered a statement for an account YouPlus held at a U.S. bank so that it showed totaling over $600,000 from 35 different companies, including Coca-Cola, Kraft, and Netflix. The deposits did not actually exist. The true bank statement for that month reflected only one $65,000 customer deposit.  Shamim also admitted to forging or altering contracts purporting to show subscription agreements between YouPlus and purported customers.

    Shamim admitted that, from August 2018 through October 2019, he used these false statements about revenue and customers to obtain about $6.4 million from investors.

    On June 14, 2022, a federal grand jury handed down an indictment that charged Shamim with three counts of wire fraud, in violation of 18 U.S.C. § 1343, and one count of securities fraud, in violation of 15 U.S.C. § 78j(b) and 78ff and 17 C.F.R. § 240.10b-5.  Pursuant to the plea agreement, Shamim pleaded guilty to one count of securities fraud and the court dismissed the remaining counts during the sentencing hearing.

    In addition to the 30-month prison term, Judge Donato ordered Shamim to pay a $50,000 fine and to serve three years of supervised release, which will begin after he leaves prison.  Shamim is currently released on bond, and Judge Donato ordered that Shamim report to begin serving his sentence on April 28, 2025.  In addition, Judge Donato scheduled a hearing for June 23, 2025, to determine issues regarding restitution.

    The case is being prosecuted by the Corporate and Securities Fraud Section of the U.S. Attorney’s Office for the Northern District of California.  Assistant U.S. Attorneys Lloyd Farnham and Noah Stern are prosecuting the case with the assistance of Madeline Wachs, Sara Slatterly, and Claudia Hyslop.  The prosecution is the result of an investigation by the FBI.  The U.S. Attorney’s Office and the FBI thank the San Francisco Regional Office of the Securities and Exchange Commission (SEC).  An SEC civil enforcement action is currently pending against Shamim in the Northern District of California.
     

    MIL Security OSI –

  • MIL-OSI China: ADB: Developing Asia-Pacific economies to grow 4.9% in 2025

    Source: China State Council Information Office

    Developing economies in Asia and the Pacific are forecast to expand by 4.9 percent on average this year and 4.7 percent in 2026, partly due to trade uncertainty and higher U.S. tariffs, a new report by the Asian Development Bank (ADB) said on Wednesday.

    The Asian Development Outlook (ADO) for April 2025 forecast that inflation in the region would moderate further to 2.3 percent in 2025 and 2.2 percent in 2026, as declining global oil and other commodity prices will continue to reduce price pressures in the region.

    ADB Chief Economist Albert Park said in the highlights of the report that forecasts for the region, which were finalized before new U.S. tariffs were announced on April 2, show growth in developing Asia “moderating” this year and next.

    Park said the region will be challenged by rising trade barriers and significant trade uncertainty, but solid domestic demand and electronics exports will support growth.

    Park also warned of looming downside risks, saying that full implementation of the new U.S. tariffs and escalating geopolitical tensions could disrupt prospects.

    “Asia and the Pacific stands at a critical juncture,” ADB President Masato Kanda said in the foreword of the report. “The region now faces a complex economic landscape, with increasing trade tensions, policy shifts, and geopolitical conflict.”

    Kanda said further enhancing regional cooperation is “essential” to address shared vulnerabilities, such as supply chain fragility, energy security, and disasters.

    “Strengthening institutions for cross-border cooperation will provide solid fundamentals for sustained growth and stability,” Kanda said. 

    MIL OSI China News –