Category: Asia

MIL-Evening Report: Politics with Michelle Grattan: Malcolm Turnbull on Australia’s ‘dumb’ defence debate

Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

The Albanese government remains in complicated territory on the international stage. It has to tread carefully with China, despite the marked warming of the bilateral relationship. It is yet to find its line and length with the unpredictable Trump administration.

Meanwhile, with the new parliament meeting for the first time next week, the federal Opposition remains in a tough spot, still reeling from a brutal election defeat. The Liberals have an untested leader and uncertainty over what policies they will keep and which they will scrap, with their future commitment to net zero emissions by 2050 yet to be reconfirmed.

Former prime minister Malcolm Turnbull has personally navigated the highs and lows of these issues, and joins the podcast today.

On AUKUS and national security, Turnbull says the debate has “never been dumber”.

The fundamental problem with our debate about national security is a profound lack of patriotism, because not enough people are putting Australia first. I mean I’m not saying that our politicians should be like Donald Trump, in terms of his bravado and braggadocio – you know all that sort of stuff he goes on with – but they should be like Trump in the sense of putting Australia first.

You know Donald Trump expects other countries to stand for themselves. Who is the foreign leader that is an ally that he respects the most? [Israel’s Prime Minister] Bibi Netanyahu. Bibi Netanyahu stands up for himself and brutally. And brutally. I mean, Netanyahu’s attitude is, if you’re in the Middle East, if you’re weak, you’re roadkill.

On defence spending, Turnbull calls a proper review on what Australia needs, rather then spending a certain percent on defence.

We’ve got to have a proper examination of what capabilities we need, and what capabilities we can afford. The point about submarines is, if you’re going have a fleet of nuclear-powered submarines – they’re literally the most expensive defence platforms in the world – then you’ve got to work out what else you need and then what that’s going to cost you. That will come to quite a lot more than [the current] 2% of GDP, I would estimate.

Turnbull also warns of a “reckless” degree of “delusion” in Canberra about the risk of not getting nuclear-powered submarines from the US.

On global affairs, Turnbull says the Albanese government has performed well in a time of uncertainty.

It’s complicated, but they’re managing this disrupted global environment well. The directions they’re going in are correct. The need plainly is to strengthen partnerships, alliances, relations with countries other than the United States.

[…] There’s a degree of anxiety about China because we don’t share the same political values. It clearly wants to displace the United States as the hegemon in this region […] I think the government and certainly most Australians would recognise that the days of American primacy in this region are over and the outcome for us that we want to have is, as [a former Japanese prime minister] Shinzo Abe used to say, a free and open Indo-Pacific, a balance between the two powers. Indeed as [Foreign Minister] Penny Wong said, a region where no one dominates, nobody is dominated.

On Albanese’s failure to meet yet with the US president, Turnbull says it doesn’t matter “a huge amount”.

It is very important for the prime minister of Australia to have a good personal relationship with Donald Trump. It really is. When I was prime minister, my relationship with him got off to a very stormy start, but it was a very good one, because by standing up to his bullying, I won his respect.

[…] When he does meet with Trump, it’s got to be in a situation where he can have an extended discussion, where it’s a substantive meeting and they can really get to know each other. So I think it’s not just the timing of the meeting, but the quality of the meeting.

On the Liberal Party, Turnbull is pessimistic about its chances of moderating its views, even with Sussan Ley, generally regarded as centrist, as leader,

[Ley’s] problem, even if she was centrist, and even if was genuine about moving the party back to the centre, I would question whether she can do it. Because there are not many moderates left in the party room in Canberra. How many moderates are left in the branches anymore? Has there been a sort of self-sorting now? Essentially the party […] has moved off into that right wing.

[…] The leader has a lot of authority. However, there is the right wing of the party and you cannot separate it from the right-wing media. From the Murdoch media in particular, they’re joined at the hip. I mean, they’re almost the same thing. They operate in the context of the Liberal Party almost like terrorists. Or like terrorists in this sense: they don’t kill people or blow things up, but they basically are prepared to burn the joint down if they don’t get what they want. I mean, I experienced that.

Despite reservations, Turnbull says quotas for women are the only way to the Liberal party to where it wants to be.

Everything else has been tried and it’s failed […] My view is that the party has got to say, well, we recognise this is contrary to grassroots tradition. But unless we do something fairly draconian and directive, then we’re not going to be able to get to the parity of men and women that we want, that we’ve said we wanted for years, and which the electorate clearly prefers.

Michelle Grattan 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. Politics with Michelle Grattan: Malcolm Turnbull on Australia’s ‘dumb’ defence debate – https://theconversation.com/politics-with-michelle-grattan-malcolm-turnbull-on-australias-dumb-defence-debate-261178

MIL OSI Analysis – EveningReport.nz –

July 16, 2025
MIL-OSI China: Ceramic artists from China, South Korea showcase works in Beijing exhibition

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

Editor’s Note: The Korean Cultural Center in China is presenting the “Fine Porcelain and Beautiful Scenery: South Korean-Chinese Ceramic Exchange Exhibition” from July 3 to Aug. 27.

The exhibition features artists from South Korea and China, including ceramicists from Jingdezhen, China’s renowned porcelain hub. The show brings together contemporary ceramic art ranging from traditional forms to conceptual installations.

Ceramics has long served as a cultural bridge, embodying East Asian philosophies of form, material and transformation. Building on this tradition, the exhibition presents a new dialogue between South Korean and Chinese ceramic artists. While the works are rooted in ancient traditions, they reinterpret the medium through modern visual approaches including painting, installation and conceptual expression.

This photo shows the entrance of the “Fine Porcelain and Beautiful Scenery: South Korean-Chinese Ceramic Exchange Exhibition” at the Korean Cultural Center in Beijing, July 10, 2025. The exhibition showcases ceramic works by artists from South Korea and China. [Photo by Liu Ziying/China.org.cn]

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MIL OSI China News –

July 16, 2025
Air India crash rekindles debate over cockpit video recorders

Source: Government of India

Source: Government of India (4)

The deadly Air India crash last month has renewed a decades-old debate in the aviation industry over installing video cameras monitoring airline pilot actions to complement the cockpit voice and flight data recorders already used by accident investigators.

One of the industry’s most influential voices, International Air Transport Association head Willie Walsh, a former airline pilot, said on Wednesday in Singapore there was a strong argument for video cameras to be installed in airliner cockpits to monitor pilot actions to complement voice and flight data recorders already used by accident investigators.

Aviation experts have said a preliminary report from India’s Aircraft Accident Investigation Bureau (AAIB) raised questions over whether one of the pilots of Air India flight 171 cut off fuel to the Boeing BA.N 787’s engines seconds after takeoff, leading to an irrecoverable situation.

The crash in Ahmedabad, India, killed 241 of the 242 people aboard, as well as 19 people on the ground.

As of now, “based on what little we know now, it’s quite possible that a video recording, in addition to the voice recording would significantly assist the investigators in conducting that investigation on the issue of mental health,” Walsh said.

Advocates for cockpit video cameras say the footage could fill in gaps left by the audio and data recorders, while opponents say concerns about privacy and misuse outweigh what they argue are marginal benefits for investigations.

Video footage was “invaluable” to Australian crash investigators determining what led to Robinson R66 helicopter breaking up in mid-air in 2023, killing the pilot, the only person aboard, according to the Australian Transport Safety Bureau’s final report, which was released 18 days after the Air India crash.

The video showed “the pilot was occupied with non-flying related tasks for much of this time, specifically, mobile phone use and the consumption of food and beverages,” the report said.

The ATSB commended Robinson Helicopters for providing factory-installed cameras and said it encouraged other manufacturers and owners to consider the ongoing safety benefits of similar devices.

In 2000, U.S. National Transportation Safety Board (NTSB) Chairman Jim Hall urged the Federal Aviation Administration to require commercial airliners be equipped with cockpit image recorders.

Hall’s recommendation came in the wake of 1999’s Egyptair Flight 990 crash, when the first officer intentionally crashed the Boeing 767, according to the NTSB, killing all 217 people on board.

“In the balance between privacy and safety, the scale tips toward safety, unequivocally,” air safety expert and former commercial airline pilot John Nance said. “Protecting the flying public is a sacred obligation.”

Another aviation safety expert, Anthony Brickhouse, said that as an accident investigator, he is in favor of cockpit video, but acknowledged that commercial pilots have real concerns.

Video on Air India flight 171 “would have answered lots of questions,” he said.

Air India declined to comment. India’s AAIB, which is expected to release a final report within a year of the crash under international rules, did not reply to request for comment.

PILOT OBJECTIONS

U.S. pilots’ unions such as the Air Line Pilots Association (ALPA) and Allied Pilots Association (APA) say the voice and data recorders already provide enough information to determine the cause of a crash and that the cameras would be an invasion of privacy and could be misused.

Calls for cockpit cameras are an understandable reaction to “the stress of not knowing what happened immediately after an accident,” said APA spokesperson Dennis Tajer, an American Airlines AAL.O pilot.

“I can understand the initial reaction of the more information, the better,” but investigators already have enough data to adequately determine an accident’s cause, leaving no need for cameras, he said.

To make flying safer, current safety systems should be enhanced to record higher-quality data, rather than adding video cameras, an ALPA spokeperson said.

There are also concerns the footage could be used by airlines for disciplinary actions or that video could be leaked to the public after a crash, said John Cox, an aviation safety expert, retired airline pilot and former ALPA executive air safety chairman.

A pilot’s death being broadcast on “the 6 o’clock news is not something that the pilot’s family should ever have to go through,” he said.

If confidentiality can be assured around the world, “I can see an argument” for installing cameras, Cox said.

Cockpit voice recordings are typically kept confidential by investigators in favor of partial or full transcripts being released in final reports.

Despite that, International Federation of Air Line Pilots Associations said it was skeptical that confidentiality could ever be assured for cockpit videos.

“Given the high demand for sensational pictures, IFALPA has absolutely no doubt that the protection of (airborne image recorder) data, which can include identifiable images of flight crewmembers, would not be ensured either,” the organization said in a statement.

Boeing declined to disclose whether customers are able to order cockpit video recorders, while Airbus did not reply to request for comment.

(Reuters)

July 16, 2025
Israeli research finds that when plants talk, insects listen

Source: Government of India

Source: Government of India (4)

There is evidence that plants and insects interact through sound, researchers at Tel Aviv University said on Tuesday, opening a new frontier in the study of acoustic communication in nature.

The study, published in the journal eLife, suggests that female moths detect ultrasonic distress signals emitted by dehydrated tomato plants and use this information to decide where to lay their eggs.

Moths usually lay their eggs on tomato plants to provide food for their larvae after they hatch.

The research was led by Rya Seltzer and Guy Zer Eshel in the laboratories of Yossi Yovel and Lilach Hadany, both professors at the university’s Wise Faculty of Life Sciences.

“We revealed the first evidence for acoustic interaction between a plant and an insect,” the team said in a statement.

The findings build on previous research by the group, which revealed that plants emit ultrasonic sounds when under stress.

The discovery could have implications for agriculture and pest control, opening up possibilities for managing crop health and insect behaviour through sound.

While the ultrasonic sounds emitted by plants are outside the range of human hearing, they can be picked up by many insects and some mammals, such as bats.

Investigating this preference, the researchers presented female moths with two healthy tomato plants – one with a speaker playing sounds registered from a drying plant, and one that was silent.

The moths preferred the silent option, suggesting they use these cues to identify optimal sites for laying eggs.

Further experiments confirmed that the moths’ choices were guided specifically by sound and only to sounds from the plants.

“Here, we’ve seen that there are animals that are capable of making sense of these sounds,” said Hadany.

“We think that this is just the beginning. So, many animals may be responding to different plants.”

-Reuters

July 16, 2025
MIL-OSI United Kingdom: Life Sciences Sector Plan to grow economy and transform NHS
Source: United Kingdom – Executive Government & Departments

Press release

Life Sciences Sector Plan to grow economy and transform NHS

The government has today (Wednesday 16 July) launched a bold new Life Sciences Sector Plan as part of the government’s flagship Industrial Strategy.
The government has today (Wednesday 16 July) launched a bold new Life Sciences Sector Plan as part of the government’s flagship Industrial Strategy, setting out a ten-year mission to harness British science and innovation to deliver long-term economic growth and a stronger, prevention-focused NHS.

The UK is already a global leader in life sciences, with the sector worth around £100 billion to the economy, and employing around 300,000 people. This plan, developed in close coordination with the government’s 10 Year Health Plan, doubles down on that strength – turning cutting-edge research into real-world results: new treatments, faster diagnoses, and more lives saved. It’s about making sure breakthroughs happen here – and stay here – creating jobs, improving lives in every part of the country, and driving growth.

Life sciences’ critical importance to both driving economic growth and improving our health – 2 of the core elements of the Plan for Change – has been shown through the government’s action to date to support the sector. The Chancellor re-committed up to £520 million for the Life Sciences Innovative Manufacturing Fund at the Spending Review to pull investment into the UK, and red tape is being slashed to speed up clinical trials, while an up to £600 million investment will deliver a Health Data Research Service that will be unmatched globally – bringing the power of data to bear to unlock breakthroughs in the diagnosis and treatment of diseases.

The plan sets out a comprehensive roadmap built around 3 core pillars:

1. Enabling World-Class R&D – strengthening the UK’s leadership in science and discovery
2. Making the UK an outstanding place to start, scale and invest – growing homegrown companies and attracting global capital
3. Driving Health Innovation and NHS Reform – delivering better outcomes for patients and a more modern, preventative healthcare system

6 bold actions to kickstart change

The Life Sciences Sector Plan will be supported over the lifetime of the Spending Review by government funding of over £2 billion, alongside funding from UKRI and NIHR. Actions include:

1. Unlocking NHS data to find new cures

Up to £600 million investment to build the world’s most advanced health data system – helping scientists develop better treatments faster.

2. Speeding up clinical trials

Cutting red tape so patients can join trials sooner – and get access to life-changing medicines quicker.

3. Backing British manufacturing

Up to £520 million to invest in life sciences manufacturing projects – creating high-skilled jobs and making more treatments and medical devices here at home.

4. Getting new treatments to patients faster

Making regulation simpler and faster by boosting departmental support for the MHRA with additional investment – so doctors can use safe, effective innovations without delay.

5. Helping doctors use cutting-edge tech

A new NHS ‘passport’ to roll out proven tools faster – like AI cancer scanners or wearable devices that detect disease early.

6. Backing brilliant UK firms to grow

Helping fast-growing companies raise investment, scale up, and stay in the UK – with at least one major industry partnership secured every year.

Built for delivery

This Plan was shaped with input from over 250 organisations including doctors, scientists, NHS leaders and industry experts to ensure it delivers real impact. It builds on the strong foundations of the 10-Year Health Plan, extending its ambition by uniting health and growth interventions into a single, coherent strategy for the Life Sciences sector. Every action has clear goals and named leads. This is a Plan designed to deliver, not in isolation but as a vital part of the government’s broader Plan for Change.

Early momentum

The plan builds on the Chancellor’s commitment to reduce regulatory costs by a quarter, with increased investment in the MHRA to accelerate approvals and improve efficiency. It aims to streamline MedTech market entry through closer coordination between the MHRA and NICE.

The government is also focused on strengthening the UK’s clinical research infrastructure by improving trial delivery, expanding patient access, and embedding research more effectively within the NHS.

We have already started delivering on key actions, from investing up to £600 million in the Health Data Research Service alongside Wellcome, through to committing over £650 million in Genomics England and up to £354 million in Our Future Health, while the rollout of ‘innovator passports’ will help speed up the adoption of new tech and treatments on the NHS. This is clear evidence of our commitment and confidence in life sciences as a driver of both economic growth and better health outcomes.

Why life sciences matter

Life Sciences is one of 8 priority sectors in the government’s Industrial Strategy – reflecting the sector’s high growth potential.

Life sciences companies employ over 300,000 people, with more than three-quarters of jobs outside London and the Southeast, supporting opportunity in every part of the UK.

The sector improves economic productivity by improving health. With long-term illness a major drag on workforce participation, better health leads directly to a stronger, more resilient economy.

The Life sciences sector attracts record levels of private investment. In 2023, the UK raised the third highest amount of life sciences equity finance in the world, behind only the US and China.

It is a UK export powerhouse -medicines and medical technologies were the UK’s third largest goods export by value in 2024.

And it is innovation-intensive, with 17% of all UK business R&D spend is in pharmaceuticals, the highest of any sector.

Artificial Intelligence (AI) is also revolutionising the Life Sciences sector across research, diagnostics, treatment, and manufacturing, reshaping how we prevent, treat, and manage disease. The potential economic impact is substantial, with McKinsey Global Institute estimating that AI could generate $60–110 billion annually for the pharmaceutical and medical-product industries alone .

Chancellor of the Exchequer, Rachel Reeves, said:

Our world-leading life sciences sector employs hundreds of thousands of people and is a powerhouse for economic growth that puts more money in people’s pockets. Our Plan for Change is ramping up this success story even further.

The ten-year life sciences plan we have released today as part of our Industrial Strategy will cut red tape and deliver the investment we funded at the Spending Review so it can stay ahead of the curve globally and we can reap the economic rewards for years to come.

Science and Technology Secretary Peter Kyle said:

The life sciences sector is one of the crown jewels of the UK economy. It sits at the heart of both our Plan for Change, and our Modern Industrial strategy, as a unique catalyst for both economic prosperity, and better health outcomes for people across the UK.

Moving in lockstep with industry, academia and our NHS, we will unleash this sector as a force for good and for growth. The suite of measures we’re announcing today will unlock its full potential — attracting global investment, accelerating innovation, and delivering breakthroughs that will make the UK healthier, wealthier, and even more open for business.

Business Secretary Jonathan Reynolds said:

We’re committed to making the UK a life sciences superpower, and our modern Industrial Strategy has earmarked it as one of 8 priority sectors so it can double down on our strengths and keep us at the cutting edge of innovation.

This government is taking the bold action needed to help this £108 billion industry flourish and create new high-skilled, well-paid jobs right across the country, making our Plan for Change a reality.

Health Secretary Wes Streeting said:

This Life Sciences Sector Plan represents a pivotal moment in our mission to rebuild the NHS and shift our healthcare system from one that treats illness to one that prevents it.

By bringing together the brilliance of British science with the power of our NHS, we’re not just improving healthcare outcomes – we’re building a stronger economy and creating jobs across the country.

The £2 billion investment will help us make the most of our world-leading health data, speed up access to innovative treatments, and transform the experience of patients. This is how we deliver a health service fit for the future – by embracing innovation that saves lives, cuts waiting times, and makes the NHS sustainable for generations to come.

The plan comes just days on the same day as the fourth “Made in the UK, Sold to the World” Roadshow, a government-led initiative designed to boost SME exports in the Life Sciences sector.

The roadshow focuses on the 8 sectors highlighted in the modern industrial strategy, forming part of the government’s commitment to supporting high-growth industries with the greatest potential to create jobs, increase productivity, and drive long-term economic growth.

Support for the Life Sciences Sector Plan

Professor Sir John Bell, President of the Ellison Institute of Technology and UK Government Life Sciences Champion said:

With our world-leading science base, genomics capabilities and industrial heritage, our Life Sciences sector can truly be among the best globally, ensuring the UK is developing and benefiting from the technologies of the future. We must however move past high level ambitions. This plan, with an inbuilt, relentless focus on delivery, provides the vehicle to take us there.

Deepak Nath, CEO of Smith+Nephew, said:

Smith+Nephew welcomes the publication of the government’s Life Sciences Sector Plan and its clear recognition of the critical role that medical technology plays in building a sustainable, high-performing NHS.

We are encouraged by the plan’s focus on the full life cycle of medical technologies – from research and development, and manufacturing, through to regulation, evaluation and adoption – and by the continued engagement with industry throughout its development. We look forward to supporting the plan’s implementation.

Dr Tony Wood, Chief Scientific Officer, GSK, said:

We welcome the government’s Life Sciences Sector Plan – in particular, the reforms to incentivise more UK clinical trials, establish a new Health Data Research Service and create a network of translational labs and clinics to accelerate drug discovery and development. These changes can bring unique competitive advantage to the country and make the UK a leader in future life sciences research.

Tim Sheppard, SVP & GM, North Europe, IQVIA, said:

IQVIA welcomes the Life Sciences Sector Plan and its bold ambition to realise more investment in commercial R&D than any other country in Europe by 2030.

Human data science and AI technology underpin our global leadership in commercial clinical research, we recognise the potential in the Plan for the Health Data Research Service to be a catalyst in the UK Government’s commitment to create the world’s most advanced and secure health data platform, enhancing the UK’s attractiveness for global trials and AI investment.

The Life Sciences Sector Plan will strengthen IQVIA’s ability to offer its global life sciences sponsors a seamless and efficient development pathway from early phase trials to regulatory approval and enhance patient access to innovative treatments – improving patients’ lives and driving further economic growth in the UK.

Steve Rotheram, Mayor of the Liverpool City Region, said:

The Liverpool City Region has a proud history of innovation and is fast becoming recognised as a powerhouse in health and life sciences – from pioneering infection and disease control to cutting-edge manufacturing.

This plan is a welcome step towards unlocking the sector’s full potential, and I’m confident our region will play a central role in delivering that ambition. With our world-leading assets in biomanufacturing, digital health and infectious disease research, we’re already demonstrating how innovation in our region can improve lives, create highly skilled jobs, and attract global investment. Backed by the right partnerships and investment, we can help cement the UK’s place as a global leader in life sciences.

Lord Ara Darzi, Paul Hamlyn Chair of Surgery, Imperial College London, Consultant Surgeon, Imperial College Healthcare NHS Trust and the Royal Marsden NHS Foundation Trust and Independent Member of the House of Lords said:

This plan is a detailed blueprint for implementation. It marks a profound change not just in how we go about enabling discovery but also in the way we deliver it. It sets the United Kingdom up to lead not just in trialling innovation but in making such innovations have real world impact for the benefit for patients, the National Health Service, and economic growth.

Dr. Vin Diwakar, Clinical Transformation Director at NHS England, said:

The Life Sciences Sector Plan is a major step forward, accelerating patient access to the latest health innovations through better industry partnerships, solidifying the NHS’s role in economic growth. Through initiatives like the Health Data Research Service and ‘innovator passports,’ we’re unlocking data’s potential for cures and fast-tracking proven health technologies, ultimately transforming patient care and making the NHS fit for the future.

Peter Ellingworth, Chief Executive of the Association of British HealthTech Industries (ABHI) said:

ABHI welcomes the publication of the Life Sciences Sector Plan. Developed with meaningful engagement from the HealthTech industry, it recognises the critical role that HealthTech will play in driving innovation and supporting the NHS to deliver the reforms needed to ensure its long-term sustainability. We are particularly encouraged by the commitments to regulatory reform, investment in research infrastructure, and measures to accelerate the adoption of innovation. To succeed, this strategy must be delivered in genuine partnership with industry and the NHS, and focused on removing the persistent barriers that prevent patients from benefiting from the best technologies. ABHI and our members are committed to playing an active role in translating these ambitions into tangible improvements for patients, the NHS and the economy.

Paul Tredwell, Executive Vice President of Accord Healthcare said:

It is very encouraging to see a Life Sciences Sector Plan which for the first time recognises the immense contribution of the off-patent industry, a sector which provides around 80% of all the UK’s medicines. As one of the largest manufacturers supplying medicines to the NHS, and a company currently applying to the government’s LSIMF scheme, we welcome this Sector Plan as a positive step and look forward to working with government on policies that will support future growth and investment.

Nicola Perrin MBE, Chief Executive of the Association of Medical Research Charities (AMRC) said:

We’re pleased to see life sciences recognised as a priority sector for the UK. This is a triple win for the economy, for the NHS and for patients. It will benefit people across the country and unlock new ways to prevent, diagnose and treat disease.

We welcome the positioning of research at the heart of the Life Sciences Sector Plan, from the earliest stages of discovery science and beyond. We also welcome the focus on ensuring that the NHS embraces new discoveries and innovations – these will only have an impact if they get to patients quickly and effectively.

It’s reassuring to see a clear focus on implementation and accountability in the plan. This will help to ensure urgent action and real change. Medical research charities must be key delivery partners – they support R&D that focuses on patients, addresses areas of unmet need and accelerates impact.

Dr Samantha Walker, Director of Research and Innovation at Asthma + Lung UK, says:

We are pleased to see the Life Sciences Sector Plan setting out an array of opportunities for action to accelerate the growth of the UK’s respiratory research and innovation sector.

There has been too little scientific progress for people living with lung conditions – the third biggest killer in the UK. This plan for investment, with its focus on innovation and access to health data for research, could help drive desperately needed improvements to the diagnosis and treatment of lung disease, which affects 1 in 5 people in the UK.

With effective implementation, this plan could lead to research investment that will save lives and significantly reduce the number of preventable A&E visits due to asthma attacks and COPD exacerbations. Furthermore, it has scope to increase the growth of the life sciences sector and will benefit the UK economy by cutting days lost to sickness.

Louis Taylor CBE, CEO of the British Business Bank, said:

In the UK, we are very good at starting high-potential companies and creating breakthrough innovation, but what’s often lacking is the capital to scale these startups. The British Business Bank has been at the heart of growing the UK innovation economy for the last ten years. Today, the Bank is the largest investor in UK venture and venture growth capital funds and the most active late-stage investor in life sciences and deeptech. We welcome today’s Life Sciences Sector Plan and will continue to support the growth of this critical sector.

Mike Fairbourn, Vice President & General Manager, UK & Ireland for Becton Dickinson said:

Becton Dickinson welcomes the UK government’s publication of the Life Sciences Sector Plan. The plan’s focus on accelerating regulatory approvals, streamlining procurement pathways and investing in innovative manufacturing underscores the crucial role of medical technology in driving better health outcomes and economic growth. We strongly support these commitments and stand ready to work hand-in-hand with government, the NHS and regulators to deliver on these ambitions. Together, we can unlock the full potential of the UK’s medical technology industry to bolster the UK life sciences sector and the wider economy, and to benefit patients across the country.

Dr Daniel Mahony, Chair of the UK BioIndustry Association said:

Making the UK an outstanding place in which to start, grow, scale and invest in life science companies is key to driving UK economic growth. The life science sector plan is right to focus on getting substantially more public and private investment in early-stage companies, improved access to data, trials and skills to help companies grow, and more streamlined regulation and market access pathways to get innovative medicines to NHS patients. We particularly welcome the focus on unlocking pension funds to increase investment in scaling life science companies. In this parliament, the UK has the opportunity to create a truly-world leading life sciences ecosystem that works for start-ups, scale-ups and established global companies alike.

Dr Kevin Lee, CEO of Bicycle Therapeutics said:

Bicycle Therapeutics welcomes the government’s vision to make the UK a Life Sciences superpower as part of its bold and ambitious Industrial Strategy. We support the strategy’s aspiration to accelerate the growth of UK companies by encouraging investment in the sector, simplifying the regulatory environment, and leveraging the UK’s unique healthcare ecosystem to innovate in clinical trial design. At Bicycle, we view this plan as an opportunity to support the advancement of our work to unlock the potential of our Nobel prize-winning science and create new medicines for a wide variety of diseases, starting with cancer. We are excited by the prospect of working in an ever more innovative and productive sector that will see British scientific breakthroughs transform the lives of patients across the globe.

Professor Sir Rory Collins, Principal Investigator and Chief Executive of UK Biobank, said:

The Life Sciences Sector Plan shows how, with long-term thinking, the UK can build on its many world-leading institutions and facilities to deliver a world-class base for science. UK Biobank is living proof of the value of long-term thinking and the impact it can have on life sciences, with projects like our recent decade-long work scanning 100,000 volunteers that is transforming health research and helping the NHS.

The UK government continually supports UK Biobank as shown by its £20 million investment for our project to measure proteins in the blood of our half a million volunteers. This investment is helping generate the world’s most comprehensive health data and, by making it so accessible, we’re effectively able to crowdsource the minds of the planet’s greatest experts. That accessibility is why philanthropists and industry from around the world keep amplifying the government’s investment, leading to more data that drives even more research.

Professor Ugur Sahin, Managing Director, CEO and Co-Founder of BioNTech said:

We believe that innovative treatments reach patients faster when sectors collaborate towards a common goal. The renewed Life Sciences Plan reflects this spirit and has the potential to transform medicine through real progress in cancer care and beyond – both in the UK and globally.

Helen Dent, CEO of British In Vitro Diagnostic Association (BIVDA) said:

This plan reflects the government’s understanding of the challenges facing the life sciences industry and their commitment to driving investment, growth, and innovation across the sector.

Pledges which reduce the cost and streamline the adoption of diagnostics, MedTech and genomics are hugely welcome, as are measures to introduce low-friction procurement and contracting mechanisms.

Ultimately, success will depend upon continued collaboration between government, industry, and the healthcare system to ensure its ambition is matched by delivery. BIVDA looks forward to supporting this process and bolstering the UK’s position as a world-leader in life sciences.

Hyoungki Kim, CEO and Vice Chairman of Celltrion, said:

As a South-Korea based company with a global outlook, we are committed to adapting to the long-term dynamics of the markets we serve. The UK is a key supply destination for us, and we remain committed to supporting the NHS through the increased availability of biosimilar medicines in the coming years. The UK is an important supply destination for us, and we are planning substantial investments to expand our biosimilar medicine supply in the coming years. We therefore welcome the recognition in the life sciences plan that biosimilars are a critical means of delivering value to the NHS and, importantly, expanding patient access. This acknowledgement reinforces our confidence in prioritising the UK as a central focus of our global efforts.

Massimiliano Collela, Chief Executive Officer of CMR Surgical, said:

We are grateful to the government for their support of leading UK Tech and Life Sciences scale-ups like CMR Surgical through the government’s Industrial Strategy, the 10 Year Health Plan and the Life Sciences Sector Plan. With the government’s support, the UK innovation sector continues to flourish.

Lars Petersen, President & Chief Executive Officer of FUJIFILM Biotechnologies, said:

FUJIFILM Biotechnologies warmly welcomes the UK government doubling down on its commitment to life sciences with this timely and ambitious new Sector Plan.

The UK has long been a global powerhouse in life sciences R&D – but what truly excites me about this plan is its potential to supercharge the life sciences ecosystem. By combining world-class discovery, cutting-edge development, and advanced manufacturing under one cohesive vision, the UK is positioning itself to not just lead in innovation but ensure the entire life sciences value chain flourishes.

I’m especially pleased to see the critical role of innovative medicines manufacturers, like FUJIFILM Biotechnologies, recognised as essential to the UK’s future growth. This isn’t just about planning; it’s a clear roadmap to unlocking our potential to fuel economic growth, spark groundbreaking innovation, and improve patient outcomes across the board.

The government’s pledge of £520 million in grants to expand the UK’s medicines manufacturing sector can also be a game-changer. Remaining globally competitive requires action, and this is exactly the kind of commitment needed to kickstart a new era for the UK’s life sciences. Combined with ongoing private-sector investment and the support of an empowered Life Sciences Sector Council, we’re looking at the foundation of a win-win scenario for government, business, patients, and innovators alike.

As one of the UK’s largest investors in innovative medicines manufacturing, FUJIFILM Biotechnologies stands ready to seize this opportunity. We look forward to helping turn this vision into a reality and build a stronger, more sustainable future for life sciences in the UK.

Richard Stubbs, Chair of the Health Innovation Network said:

The UK is now in a race to the top to become a global powerhouse for the life sciences sector. To achieve this, we will need to go further to find, test and implement health innovations at pace and at scale. It is right that place-based innovation capacity and capabilities have been identified in the Life Science Sector Plan as a key enabler for the sector.

The Health Innovation Network is proud of the impact that we deliver with our partners in the NHS, academia and industry – from SMEs to multinationals – to improve patient outcomes, release capacity in the NHS to cut waiting lists and to drive economic growth, all priorities that are rightly recognised in this plan. The contribution the life sciences sector has to improve the health and wealth of the country is more evident now than ever. Through working locally with our vibrant life science sector, our health innovators, and our NHS staff we will deliver real change on the ground that has a national impact, and that supports the bold ambitions set out in the Life Sciences Sector Plan.

Yamin Mohammed Khan, CEO of hVIVO said:

We were pleased to establish a working partnership with the Office for Life Sciences in support of their sector plan. The UK has a remarkable and longstanding legacy in life sciences, something which we at hVIVO are proud to be a part of as the world leading provider of human challenge trials. The UK has a proven track record of innovation that continues to thrive. As a global pillar in health research and life sciences, the UK plays a vital role in shaping the future of healthcare and scientific advancement. We’re excited to see how this 10-year plan unfolds, helping the UK maintain its global reputation and further strengthen its leadership in the life sciences sector.

Mark Robinson, Vice President and General Manager, UK and Ireland, and North Europe at Illumina, said:

Illumina strongly supports the UK government’s ambition, outlined in the Life Sciences Sector Plan, for genomics to contribute to half of all healthcare interventions by 2035. The plan’s focus on integrated health data, streamlined clinical trials, and expanded genomic infrastructure aligns with Illumina’s mission to unlock the power of the genome to improve human health for all. Illumina’s longstanding partnerships in the UK have played a key role in advancing our understanding of the genome, and we look forward to continuing these collaborations to support the UK’s leadership in global genomic research and innovation.

Dr Stella Peace, Interim Executive Chair of Innovate UK said:

The Life Science Sector Plan positions innovation as a critical engine with the potential to power breakthroughs, drive economic growth and transform lives. The plan sets out how we will unlock the full potential of UK life sciences by backing the businesses, researchers and technologies shaping the future of healthcare and delivering real societal impact. Innovate UK look forward to being part of bringing this plan to life.

David Marante, Vice President UK and Ireland at Intuitive, said:

We know how important equity of access to innovation is to improve patient care in the NHS. For the last 2 decades we’ve worked together with NHS Trusts in England to implement da Vinci robotic-assisted surgery programmes, harnessing our innovations to help enhance patient and care team experience, and reduce waiting lists through increased productivity to ultimately improve patient outcomes.

With health innovation as a key pillar of the government’s vision for the UK’s Life Sciences sector, we’re excited to continue supporting NHS care teams to improve equity of access to minimally invasive care with da Vinci RAS, enabling patients to get back to what matters most.

Mark Samuels, Chief Executive of Medicines UK, said: 

Generics and biosimilars account for 4 in every 5 NHS prescriptions, making them a cornerstone of patient care and an essential part of the UK’s life sciences ecosystem. We welcome this plan’s recognition of their vital role. 

The off-patent sector operates in a highly competitive global environment. To maintain supply and attract sustained investment, the UK must offer a policy and operating landscape that is both supportive and internationally attractive. 

We are encouraged by the strategy’s ambition and clarity – particularly its objective to make the UK a world leader in the adoption of off-patent medicines, with a strong emphasis on biosimilars.

A thriving off-patent sector delivers access and value for the NHS and forms the foundation for future pharmaceutical innovation and investment. We look forward to working with Government to deliver on this important agenda.

Lawrence Tallon, Chief Executive of the Medicines and Healthcare products Regulatory Agency, said:

I welcome the publication of the Life Sciences Sector Plan and fully support its ambition to make the UK a global leader in life sciences and a country where innovation delivers for everyone.

It’s great to see the MHRA is recognised as a pivotal partner in delivering the plan’s vision – by supporting innovation, protecting public health, and making the UK a global destination for innovators to research, develop and launch cutting-edge medical products.

Working with our partners across the sector, we will continue to enable safe and effective innovation that benefits patients, the public, and the economy.

Kit Erlebach, Chairperson of the UK’s Medicines Manufacturing Industry Partnership (MMIP) and Senior Director, Engineering at FUJIFILM Biotechnologies UK said:

The UK government’s new Life Sciences Sector Plan signals a clear and ambitious commitment to the future of life sciences in the UK. This plan provides a unique opportunity to build upon our nation’s strengths in research, development, and manufacturing, creating a fully connected and world-leading life sciences ecosystem, with innovative large and small medicines producers.

By articulating a clear vision for medicines manufacturing alongside discovery and development, the UK is laying the foundation for a thriving sector that benefits patients, drives innovation, and delivers economic growth. The focus on medicines manufacturing as a key component of this strategy is vital, providing the necessary support to strengthen the UK’s position on the global stage.

The allocation of £520 million in grants for expanding medicines manufacturing capabilities demonstrates the government’s dedication to fostering a competitive and sustainable industry. Combined with continued private-sector investment and collaboration across the sector, this targeted support will create new opportunities for innovation, employment, and improved health outcomes.

The Medicines Manufacturing Industry Partnership (MMIP) is proud to have contributed to support the development of this Sector Plan. In a rapidly changing international context, today’s announcement is a key step on the journey to enhance the UK’s international competitiveness. We are committed to working with Government to drive implementation of this plan, and the other necessary steps set out in the MMIP’s 10-year vision to deliver on our shared ambition.

Darius Hughes, UK General Manager for Moderna, said: 

Moderna welcomes the UK government’s Life Sciences Sector Plan as a bold and timely commitment to strengthening the UK’s position as a global leader in healthcare innovation and adoption. 

Through our strategic partnership, we’ve invested in UK-based mRNA R&D and manufacturing, because we believe in the UK’s ability to turn scientific excellence into real-world impact. 

This Plan gets the fundamentals right — from smarter regulation to investing in talent and unlocking the potential of health data — and we look forward to continuing our work together to deliver meaningful outcomes for patients, the NHS, and the economy.

Professor Patrick Chinnery, Executive Chair of the Medical Research Council, said:

The new Life Sciences Sector Plan sets out a bold vision to transform how one of the UK’s most dynamic and globally competitive sectors delivers for our economy and for people around the world.

The Medical Research Council is committed to playing a central role in realising this vision by accelerating the translation of curiosity-driven research into innovations that support disease prevention, earlier diagnosis and better treatments.

In partnership with researchers, charities and industry, we will help more people live healthier, more productive lives, and attract further investment to strengthen the UK’s life sciences sector.

Matthew Taylor CBE, Chief Executive of the NHS Confederation, said:

Health leaders will welcome the publication of the life sciences sector plan which will play a crucial role in building an NHS that’s fit for the future. Having a thriving UK life sciences and innovation sector is key to ensuring patients get access to the treatments and innovations they need and at the best value to the health system.

For the government’s NHS reforms to succeed a successful life sciences programme is key, and the sector benefits from using the NHS as a testbed and delivery partner for new innovations. We look forward to working with the Office of Life Sciences, the Department of Health and Social Care and NHS England to ensure the views of health system leaders are reflected in the implementation of the plan so that it can deliver for both the health system and life sciences sector.

Dr Sam Roberts, Chief Executive of the National Institute for Health and Care Excellence (NICE), said:

We warmly welcome the publication of the government’s Life Sciences Sector Plan, which sets out how NICE will ensure patients get faster, fairer access to transformative new medicines and life-changing healthtech, while supporting a thriving life sciences industry in the UK.

This comprehensive plan establishes a clear vision for how NICE, the NHS, and industry can collaborate to truly transform people’s lives through better, more equitable access to innovation. At NICE, we are committed to playing our part in ensuring that the UK remains at the forefront of life sciences innovation while delivering a sustainable and effective health service for all.

Ros Deegan, CEO of OMass Therapeutics, said:

The new Life Sciences Sector Plan outlines ambitions that fit the UK’s world-leading capabilities and should help small and medium sized Life Sciences businesses scale, grow and keep innovation within the UK. As a growing biotechnology company with products approaching the clinic, we are encouraged to see actions designed to cut clinical trial approval times and improve access to capital – 2 critical factors that will benefit the sector and the wider economy.

Dr. Lucinda Crabtree, Chief Financial Officer of Oxford Biomedica, said:

The UK government’s Life Sciences Sector Plan sets out a clear commitment to making the UK a global hub for health innovation. At OXB, we have experienced first-hand how targeted government support — including funding from Innovate UK — can help unlock growth and build globally competitive capabilities. The plan’s focus on accelerating clinical trial processes, streamlining regulatory pathways, and investing in manufacturing, genomics, and health data infrastructure will support innovation and improve access to breakthrough treatments. These initiatives are vital to establishing the UK as a key market to scale life sciences businesses, attract investment and world-class talent, and drive long term economic growth.

Gordon Sanghera CBE, CEO and Co-founder of Oxford Nanopore Technologies, said:

The UK’s ambition to further expand the integration of genomic and molecular data into health systems and the economy – at scale – is exactly the kind of bold infrastructure investment that can improve lives and drive economic growth. In that system, being able to move quickly from innovation to implementation is essential to translating UK science into global health and economic impact.

Roland Sinker CBE, Chief Executive of Cambridge University Hospitals NHS Foundation Trust, said:

As I outlined in the Innovation Ecosystem Programme report, there is a significant opportunity to deliver meaningful benefits to the NHS and patients through innovations developed by UK life sciences companies. I fully support the Life Sciences Sector Plan and its clear commitments to advancing research, enabling UK life sciences to thrive, and accelerating health innovation. These actions are essential to ensuring that NHS staff and patients are among the first to benefit from the latest breakthroughs.

Richard Saynor, CEO of Sandoz said:

We welcome the government’s commitment to becoming a world leader in the uptake of off-patent medicines. The target of £1 billion of savings from biosimilars is both realistic and achievable. Increasing their use will unlock greater worker productivity and increase the health of the UK population – a major contribution to the government’s growth imperative. As a committed partner to the NHS and government, Sandoz will dedicate resources and expertise to realise the goals for the off-patent sector within the Life Sciences Strategy.

Neil Daly, CEO and Founder of Skin Analytics, said:

We welcome the clear action plan in the Life Sciences Sector Plan for streamlining and speeding up the adoption of proven healthcare technologies and feel the plan will make a meaningful difference to UK health innovators. In skin cancer, this means that the NHS can move much more swiftly to establish appropriately regulated autonomous AI triage as standard practice for all patients. This will find more cancers, free up clinician time and save taxpayers’ money.

Dr Michael Spence, University College London President and Provost said:

Universities will be at the heart of making the UK the leading life sciences economy in Europe. With its backing for world-class research and clinical trials, the Life Sciences Sector Plan will help us achieve even more.

London is a global centre for innovation, with Euston already a leading area for life sciences where world-class universities, healthcare, and life science companies come together. With new investments in Oriel at St Pancras Way with Moorfields Eye Hospital, and a state-of-the art neuroscience facility at Grays Inn Road, UCL is at the heart of making the area a global leader. The new Life Science Hub at Euston station is a step towards realising the huge potential in this area and achieving the government’s ambitions

John-Arne Røttingen, CEO of Wellcome, said:

The ambition set out in the Life Sciences Sector Plan is hugely welcome. Life sciences are a historic strength of the UK, and this strategic vision is important to cement the country’s advantage in the future. The plan’s emphasis on the importance of early-stage research is particularly shrewd. Basic discovery science underpins later health breakthroughs and clinical trials, making it the essential bedrock for a thriving research economy.

The focus on speeding up trials and on data infrastructure for research will not only lead to real impact for patients but also strengthen the UK’s attractiveness to innovative researchers and businesses.

If the level of ambition in the plan is matched by meaningful action and investment, the UK will be well on its way to securing its place as a global life sciences leader.

Notes to editors

The full collection of Industrial Strategy sector plans can be found here.

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Updates to this page

Published 16 July 2025
MIL OSI United Kingdom –
July 16, 2025
MIL-OSI Australia: Doorstop – UTAS, Sydney campus

Source: Murray Darling Basin Authority

JASON CLARE, MINISTER FOR EDUCATION: Thanks very much for coming along this morning.

I’m here at the University of Tasmania’s campus right here in the heart of Sydney training the next generation of nurses and paramedics. And a couple of weeks ago we kicked off for the first time paid prac. That’s financial support.

Paid prac is financial support for teaching students, for nursing students, for midwifery students and for social work students to provide them with a little bit of financial help while they do the practical part of their training, with the practical part of their university degree.

Placement poverty is a real thing. As we developed the Universities Accord, one of the things that leapt out time after time talking to students was the financial challenges that come with doing the practical part of your university degree. And students over there in the background mentioned it to me just a minute ago. One student told me that she had to delay or extend her degree for a year just because of the financial challenges of doing your prac and having enough money to put food on the table, to pay your bills. This is one of a whole suite of recommendations in the Universities Accord that we’re implementing.

Another thing that came out of the Universities Accord was the reform that is needed to our HECS system, or what we used to call HECS – what we now call HELP – to student debt. Next week I’ll introduce two pieces of legislation into the Federal Parliament. The first cuts students debt by 20 per cent and the second one will cut funding to child care centres that aren’t up to scratch.

On the first bill, this is something that we promised the Australian people during the election campaign – that we would cut the student debt of 3 million Australians by 20 per cent. It’s worth something in the order of $16 billion dollars. And for the average Australian with a student debt it will cut their debt by more than $5,500. It will take a lot of weight off the shoulders of a lot of young Australians who are just out of uni, just getting started, just getting on their feet looking to move out of home or save up to get a mortgage. That money taken off their HECS bill will make a world of difference.

And the other bill that we’ll introduce next week, as I said, will cut funding from child care centres that aren’t up to scratch. This is something that we promised in the last week of Parliament before the election was called. We did that in response to the revelations that came out of the Four Corners exposé earlier this year about abuse and neglect in child care centres.

The truth is that if we want real reform in early education and care, if we want every child care centre to pay attention to safety, to give it the priority that it needs and deserves, then the most powerful weapon the Federal Government has to wield here is money. Child care centres don’t work, don’t operate without the child care subsidy. It represents about 70 per cent of the funding that runs a child care centre.

The purpose of this legislation isn’t to shut child care centres down, it’s to raise standards up. What it will do is set conditions on centres that if they don’t meet the sort of standards that parents expect and that our kids deserve, then funding will be suspended or removed entirely. And, as I said, the purpose of this is not to shut centres down but to lift standards up. It’s just one of the things that we need to do to improve the safety of children in our child care centres.

Today I’m also releasing this document, which is a roadmap of some of the key reforms that we will roll out in education over the next 12 months. It doesn’t set out everything, but it sets out some of the key reforms, including this legislation to cut student debt by 20 per cent, including this legislation to cut funding to child care centres that aren’t up to scratch. But this year we will also introduce legislation to improve the integrity of the international education system and legislation to permanently establish an Australian Tertiary Education Commission. That and much more that’s needed to make our education system better and fairer and safer.

Happy to take some questions.

JOURNALIST: Minister, on child care, when can we expect to see a national child care worker register up and running, and what’s the process from here to establish that?

CLARE: It’s a good question. I was asked this question this morning. Work is already underway on that. States and territories have agreed that we need one and we need to accelerate the work to stand that up.

The first steps are what the states are taking now – Victoria has already said that it will augment its existing teacher register to include the educators that work in their centres. They think that they can do that over the course of the next few months. What we want to do is see all states build that up and then join it up. So that work is underway with states at the moment as well as the federal authority that’s responsible in this area, called ACECQA.

JOURNALIST: You have acknowledged that the government has been too slow on child care reform. Who’s the minister responsible for that, and who do you hold responsible for the fact that it has been slow?

CLARE: I’ve been pretty blunt. I’ve said that, yes, action has been taken but more action is needed and it needs to happen quicker. I don’t think Australian parents are interested in excuses here. They want action. And action requires all levels of government to work together and the industry to join in as well.

Have a look at the revelations today that another 800 children have to get tested, blood tests and urine tests. Think about the anxiety that mums and dads are going through today, think about the trauma that kids are going to have to go through with all of that testing.

Now, the company that runs those centres should have known where this bloke was and when he was working there. The Victorian Government is working as quickly as they can to track all of this down. But it highlights to me the importance of having a national database or a national register like the one you just asked in the previous question so you can track people down when they cross borders, when they move centres.

JOURNALIST: And what point do you think it would become – you know, that particular case, that person moved around a lot. At what point do you think it would become suspicious if someone within the system was moving around a lot?

CLARE: So conscious this is a live investigation, so let’s pose this question in general terms.

JOURNALIST: Yeah.

CLARE: If we build this register the right way it helps us to identify or prompt red flags when somebody is moving for the wrong reasons. There’ll be some times people who will move between centre and centre because they’re labour hire, but there may be instances where people are moving from centre to centre because they’re quietly being moved on.

If the system works the way it needs to work, when something is not right, the police are called and the regulator comes in. And, if necessary, the centre is shut down.

JOURNALIST: We’re hearing some parents demand that centres only have female staff. What do you think of that?

CLARE: I think you might have asked me this question, Fiona, last week, there’s a bit of media about this. Have a look at the Four Corners evidence that shows that this is not just a problem with blokes. It’s a problem with women as well. We’ve had royal commissions. We’ve had the child safety review that I commissioned after that serial paedophile was arrested and convicted in Queensland. We know what we need to do here. In none of those reports did they recommend this. What they’re recommending is that register, they’re recommending national mandatory safety training so that the 99.9 per cent of people who work in our centres who are good, honest, hard-working people who love our kids and care for them and educate our kids have the skills they need to identify the person that’s up to no good, and things like CCTV so that we can deter bad people from doing bad things and help police when bad things happen. There’ll be individual centres that will talk to mums and dads about the way in which they operate in the system. But just cutting blokes out of it all together is not going to be the solution.

JOURNALIST: Is it discrimination, Minister?

CLARE: I don’t think there’s any example of any other profession in the country where it’s gender specific. The more important point I want to stress here is if we’re serious here about making sure that our kids are looked after and they’re safe, just identifying one gender is not the way to do it.

JOURNALIST: And also just on a follow-up on this matter, parents have naturally lost confidence in the system because of what’s happened. Some parents are now opting for in-home care where grandparents or relatives look after kids. Would you ever envisage a situation where the government might subsidise something like that, where parents or grandparents got paid to look after their grandchildren or –

CLARE: That’s not something the government is considering.

What we want to make sure of is that the system is as safe as it needs to be. We want it to be affordable, we want it to be accessible, but most important of all we want our kids to be as safe as they possibly can be.

Now, this is an essential service for mums and dads. There’s more than a million mums and dads out there today who are watching this, it might be in their own workplace. They might be working from home, but they know how important this is. They can’t live the lives that they’re living without this. But it’s also important for their kids, too. It’s providing them with the building blocks for the education they’re yet to have.

If you ask principals and teachers at schools, they’ll tell you that they can identify the kids when they first arrive at primary school that have been in early education and care, whether it’s sitting up straight, whether it’s listening or whether it’s having those literacy and numeracy fundamentals. All of those things make them ready to learn.

Now, at the moment there’s lots of kids in early education and care, but there’s some that are still missing out because they’re from really poor and disadvantaged backgrounds. And they start school already behind. So, we’ve got to make the system better. We’ve got to make the system fairer. But, most importantly, we need to make the system safer.

JOURNALIST: Do you support Jillian Segal’s policies to withhold funding from universities if they fail to stop or address antisemitism?

CLARE: So, we’re considering Jillian Segal’s report, the Special Envoy on antisemitism. I won’t respond today to those recommendations. But there are things that we are already doing in this space. I need to underline the point that there is no place for the poison of antisemitism in our universities.

JOURNALIST: So, you won’t say whether you support –

CLARE: Hang on.

JOURNALIST: Sorry.

CLARE: There’s no place for the poison of racism in all of its ugly and obnoxious forms in our universities or anywhere else. I’m not going to say today what our response to that recommendation will be. What I will say is we’ve taken a number of steps already. We’ve established a National Student Ombudsman for the first time so students that make complaints to their universities that are unheard have an independent person to complain to. And that ombudsman is up and running right now.

Second is TEQSA, who is the higher education regulator, already has powers in this area, whether it’s to put conditions on universities or to apply to a court to impose fines on universities. There’s an open question about the powers that TEQSA has today and whether they should be changed. That’s something that is being considered right now as part of a broader review of university governance.

The other thing I would say is that I don’t intend to look at this report in isolation. But next month the Government will receive a report from the Special Envoy in Combating Islamophobia, and so we wait to see what his recommendations will be. And broader than that, I’ve asked the Race Discrimination Commissioner to conduct a review of racism in our universities. The fact is it exists in our universities in all its ugly forms – ask Indigenous students, ask Islamic students, ask Asian students, ask international students, ask the people who work in our universities of different backgrounds, and they’ll tell you that it is real and that action is needed.

Before we consider those recommendations to their final conclusion, I want to look at the recommendations of the Special Envoy on Islamophobia, and I also want to see the work of the Race Discrimination Commissioner.

JOURNALIST: Just on that same topic, does that mean you probably won’t expect the Government’s response to those recommendations, including funding, until after those reports come down? And there were also some specific mentions of social media and growing antisemitism amongst young people because of social media. Would you back an awareness campaign or the report’s recommendation of a project to support trusted voices to publicly refute antisemitic views?

CLARE: That’s a little outside my portfolio. I’d make the general point that social media plays a role here. It’s not the only reason, but one of the benefits of removing access to social media for young people under the age of 16 might be that less of this poison enters the ears and eyeballs of our young Australians.

On your first question, we expect to see that report from the Special Envoy on Islamophobia next month. We’ll get the report from the Race Discrimination Commissioner later this year. But I do think I need to look at all of those reports that might make different recommendations here. I want to tackle racism in whatever form it comes.

JOURNALIST: So, it would be a holistic response, not just addressing antisemitism?

CLARE: There are recommendations in that report that apply to education. There’s recommendations that apply to other parts of government as well.

JOURNALIST: So, it won’t be accepted in full, the recommendations?

CLARE: I didn’t say that. Don’t put words in my mouth.

JOURNALIST: At the same time, then?

CLARE: I’m saying that we’re considering it carefully. We’ve got to consult as part of that. I want to see what the Special Envoy on Islamophobia has to say as well. I think that’s fair. I think that’s the right thing to do. But it’s not just antisemitism and it’s not just Islamophobia – ask Indigenous kids at university today and they’ll say, “well, don’t forget me.”

JOURNALIST: So next month we’ll expect –

CLARE: Next month, we’ll receive the report from the Special Envoy on Islamophobia.

JOURNALIST: And then you’ll hand down – or you’ll say whether you adopt the recommendations?

CLARE: Next month we’ll receive the report from the Special Envoy on Islamophobia. Later this year, we’ll get the report from the Race Discrimination Commissioner, which will look at this across the board.

JOURNALIST: And I do have just one more on funding and then we can go back to child care. But there have been some comparisons of this funding issue to the Trump administration, what we’ve seen with Harvard and Columbia University. Is that really something that a Labor Government would consider doing – removing funding from a public institution? So, isn’t that kind of a gross overreach, as some people have said?

CLARE: I’ll make no comment on that. Have a look at my previous answer. I made the point that TEQSA, the regulator, has powers here already. They’re different in kind to what’s being recommended in this report. But they enable TEQSA to go in and either put conditions on a university or to penalise them, to apply to a court to issue fines. There’s an open question about the role that TEQSA plays here. They’re already playing an important role in helping universities to lift their standards. I mentioned a couple of pieces of work that are ongoing in Government at the moment. There’s a separate piece of work on improving the governance of our universities generally. You would have seen reports today from chancellors, which I welcome, about how do we improve the way in which decisions are made about the remuneration of vice chancellors. That makes sense on its face to me, but that body that’s doing that work about the governance of our universities will present its recommendations to Government in October of this year.

JOURNALIST: On that, can I just ask you – this is a bit outlandish – but do you think VCs are overpaid?

CLARE: Well –

JOURNALIST: Given that

CLARE: My answer to that is that I think it makes sense – I think it makes a lot of sense, the decisions around the pay of vice-chancellors to be considered by the Remuneration Tribunal. That’s what chancellors have suggested today. When you think about it, public universities are largely funded by public funds. Politicians’ salaries are set by the Remuneration Tribunal. So are the salaries of judges and public servants. But I will wait to see that report, which we’ll get in a couple of months, about reforms to the governance of universities, not just salaries of vice‑chancellors but also what more we need to do in areas of wage theft and making sure that everybody who works in universities are properly paid. And then broader reforms that they’re considering about the councils, the senates, the boards of universities, how they operate, who are represented on them, to make sure that our universities are fit for the future.

Our universities are incredibly important and they’re going to be more important tomorrow than they are today, just like TAFEs. When I was a kid less than 10 per cent of people had a university degree. Now it’s almost 50 per cent. We know that by the middle of this decade even more kids will go on to uni and more will go on to TAFE, and we’ve got to make sure that our whole tertiary education system is set up for them. And this is part of it.

JOURNALIST: Oh, hi Minister Clare, just back to child care, we learned yesterday that accused paedophile Joshua Brown worked at an additional four daycare centres, bringing the total now to 23. My question is: does the casualised nature of the workforce pose risks to children? And how will a centralised system for monitoring workers that you have planned actually work?

CLARE: This question gives me an opportunity to talk about the pay rise that’s rolling out for child care workers now. My older cousin has worked in the sector for 30 years. I remember when my eldest was first in child care I said, “how do I pick a good centre?” And she said, “find a place where the team has been there forever. Where they’re permanent and where they love working there and they all know each other, and they all know the kids.” Right. One of the benefits of paying people more is more people want to do the job. And we’ve seen already with the start of the rollout of the 15 per cent pay rise, more people applying to work in the sector and drop in vacancies. That’s going to help with that balance about permanency as well as casual workers.

I really do worry that with all of the horror that mums and dads are experiencing that people who work in this sector are just as angry and just as horrified with what they’re seeing and that a lot of people are feeling like there’s a target on their back and that they might not want to work here. We need good people in this sector more than ever, and this pay rise is one part of that.

In terms of how the register will work, that’s something that my Department is working with state and territory departments on right now. We’ve agreed that we need to do it. We’re working on the system and how it should work. I talked about setting it up and joining it up. And this will be one of the things that’s considered when education ministers meet for a standalone meeting on child safety next month.

JOURNALIST: Can I ask one more question about the Segal recommendations?

CLARE: Sure.

JOURNALIST: Former Labor Minister Ed Husic today came out and sort of told the Government not to be too heavy-handed, is how he put it, in responding to the antisemitism crisis. Do you have any thoughts on that? And do you think the report enacted in full would be too heavy-handed?

CLARE: It may be an opportunity to say that Ed’s a great bloke and he’s one of my best mates, and I take his counsel and advice all the time. And I think you can see from my answer today that this is something that we’re going to give careful consideration to, having a look at it not in isolation but having a look at racism in all its ugly forms across our universities and across our community.

JOURNALIST: Is this something that you think that federal resources should be used to police, when it comes to universities and how they deal with these things?

CLARE: Sorry, Fi, just explain a little.

JOURNALIST: Is it – so when we’re talking about universities dealing with antisemitism and other related issues, should federal resources be used to monitor how they’re going with that?

CLARE: They already are. They already are. When you think about the decision that I made and that I got states to agree to set up the student ombudsman, it was very much about that. It wasn’t just about that. All of the horrific evidence that came to me when I first got this position about the sexual assault and harassment of particularly female students in our universities, in particular, in student accommodation, made me believe that action was required, and action was taken. And that’s why that ombudsman was set up.

That involves, I think more than $50 million dollars of taxpayer money, Commonwealth money, to set that agency up, to set that ombudsman up. And we’ve given that ombudsman real teeth so that when she makes a recommendation universities have to implement it. There’ll be legislation I’ll re-introduce into the parliament around that as well when parliament returns.

The investment that we’ve made to ask the Race Discrimination Commissioner to conduct a review into respect at unis, into racism in our universities, I think is evidence that I do believe the Commonwealth has a role here to make sure that our universities are safe places too, that many don’t feel afraid to go to uni. We want more people to want to study at uni. These are places where people study, work and live. They’ve got to be as safe as they possibly can be. There is no place for any type of racism in our country, whether it’s in our unis or anywhere else.

JOURNALIST: Dom, anything from you?

JOURNALIST: Yes, thank you. Just want to go back to the HECS stuff.

CLARE: Sure, mate.

JOURNALIST: And ask: with the introduction of the legislation next week, after that, when can we expect the next tranche of university reforms from the Accord? Do you have – is HECS still the focus of that tranche in terms of, you know, how it’s indexed, some other tweaks that can be made, will that be looked at soon?

CLARE: Thanks for the question. It’s an opportunity for me to explain in a little bit more detail the bill that will go in next week.

Number one, it will cut student debt by 20 per cent, but it will also make structural changes to the way HECS, or student debt operates. It will increase the amount of money you have to earn before you start paying off HECS from 54,000 to I think it’s about $67,000.

So, in other words, you don’t start paying off your university degree until your degree starts to pay off for you. And it makes an even more important structural change to the way in which you pay off the debt. It will effectively reduce the amount that you have to pay off each and every year when you’re on a low income.

So, the best way to explain that is if you’re on an income of $70,000 today, when this legislation passes it will reduce the minimum amount you have to repay every year by about $1,300. So that’s a real cost of living benefit for a lot of people that are on very modest incomes.

JOURNALIST: Just a two-parter then, still on HECS: in terms of has any modelling been done that by raising that people are worse off in the long term? For example, less payments equals more money that then gets indexed each year, so if you don’t reach that threshold, you know, for three more years, you’ve got a higher HECS debt that gets indexed and it kind of compounds?

CLARE: Okay, that’s an important opportunity to make the point that this is a minimum repayment. There is nothing that stops or will stop people from making additional repayments if they choose to do so.

JOURNALIST: And then the indexation – sorry, just to clarify – the indexation I was referring to was how HECS, the money gets taken out every month, but then it gets only subtracted, I think, from the debt at the end of each year, or in June or something like that. So, indexation is applied.

CLARE: Okay.

JOURNALIST: Is that what you’re looking at as well? Is that part of the next tranche?

CLARE: So, in last year’s budget we announced part 1 of our response to the Universities Accord. This is a blueprint for the next decade. It’s a big report with a lot of recommendations. We have implemented now in part or in full about 31 of those recommendations. But over the – in part with the support of the Tertiary Education Commission, which has now been established in an interim reform a week or so ago, we will now look at other recommendations in that report and what the next steps need to be in reforming our higher education system, in making it better and fairer. And in the report, I released today, it touches on some of those things.

One of them, which is not the sexiest thing – it won’t make the front page of the paper – but it’s a structural change which is going to be very important is changing the way we fund our universities. That will start from January of next year. And the introduction for the first time ever of real needs-based funding for our universities.

Last year I struck agreements with every state and territory to fix the funding of our public schools on a needs-basis, like David Gonski said we should all those years ago. Now we want to apply the same sort of model to our universities, so funding follows the students and more students from disadvantaged backgrounds, from the outer suburbs of our cities, from our regions who need more support to not just start a degree but finish a degree get it.

JOURNALIST: And that includes the Jobs Ready Graduate Scheme?

CLARE: That’s something we’re asking ATEC to have a look at. All right. Thank you.

ENDS

MIL OSI News –

July 16, 2025
MIL-OSI Africa: Visit of Union Minister of State for External Affairs and Textiles [MoS (PM)] to Eswatini, Lesotho and South Africa

Source: APO – Report:

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Shri Pabitra Margherita, Union Minister of State for External Affairs and Textiles [Mos (PM)] will pay an official visit to the Kingdom of Eswatini, the Kingdom of Lesotho from 18-22 July 2025 and to the Republic of South Africa from 23-25 July 2025.

2. During his visit to Eswatini, MoS (PM) is scheduled to pay courtesy call on His Majesty King Mswati III and Prime Minister of the Kingdom of Eswatini. He is expected to hold meeting with Foreign Minister of Eswatini to discuss matters of mutual interest and to review the progress of bilateral relations. The visit will focus on strengthening cooperation in areas such as trade & investment, capacity building, development partnership and people-to-people exchanges. MoS (PM) will also engage with the Indian diaspora and participate in events highlighting India’s development partnership initiatives in Eswatini. This visit is expected to further enhance the longstanding and friendly relations between India and the Kingdom of Eswatini.

3. In the Kingdom of Lesotho, MoS (PM) is scheduled to pay a courtesy call on His Majesty King Letsie III, and the Right Honourable Mr. Samuel Matekane, Prime Minister of Kingdom of Lesotho. MoS will also have bilateral meeting with the Minister of Foreign Affairs and International Relations. He is expected to meet the Minister of Information, Communications, Science, Technology & Innovation, the Minister of Education & Training, and the Minister of Labour and Employment in Maseru. This Ministerial visit to Kingdom of Lesotho is being undertaken after a gap of 10 years following the first-ever Ministerial visit from India to Lesotho by Hon’ble Minister of State (IC) Culture, Tourism & MoS for Civil Aviation, Dr. Mahesh Sharma, on 9 July 2015 as Special Envoy of Hon’ble Prime Minister to deliver invitations for the 3rd India-Africa Forum Summit to the leadership of the Government of Lesotho.

4. In South Africa, MoS (PM) will lead a delegation to participate in the upcoming G-20 Development Ministerial Meetings (DMM) on 24-25 July 2025 in Skukuza, South Africa and is scheduled to have a bilateral meeting with the South African Minister in the Presidency for Planning, Monitoring and Evaluation, Hon’ble Ms. Maropene Lydia Ramokgopa and other Ministers responsible for Development and Heads of Delegations of other G20 Members, invited countries and International Organizations participating in the DMM.

5. MoS (PM) is also expected to have bilateral engagements and interactions with prominent leaders of businesses and members of the Indian community in Eswatini, Lesotho and South Africa.

– on behalf of Ministry of External Affairs – Government of India.

MIL OSI Africa –

July 16, 2025
India launches talent hunt for young chefs to blend tradition with innovation

Source: Government of India

Source: Government of India (4)

The PHD Chamber of Commerce and Industry (PHDCCI), in partnership with the Ministry of Tourism, on Wednesday launched the National Young Chef Competition (NYCC), a nationwide talent hunt designed to discover and nurture India’s next generation of culinary innovators.

The grand curtain-raiser for the competition was held at PHD House in New Delhi, marking the beginning of a series of zonal rounds that will span the country. The initiative targets final-year hospitality students, providing them with a national platform to blend traditional Indian culinary practices with contemporary techniques.

Speaking at the launch event as Chief Guest, Mr Suman Billa (IAS), Additional Secretary and Director General, Ministry of Tourism, underscored the importance of preserving India’s diverse culinary traditions. “Our culinary heritage is built on cultural memory and regional techniques. We must reinforce these traditions and expand India’s footprint in the global fine dining space,” he said, urging aspiring chefs to think creatively and represent India with pride on international platforms.

The competition, themed ‘Celebrating Indian Culinary Heritage: Blending Tradition with Innovation’, is being organised in partnership with the Indian Federation of Culinary Associations (IFCA) and the Tourism & Hospitality Skill Council (THSC).

The zonal rounds will be held as follows:

* North Zone: 6 August 2025, AIHM Chandigarh
* East Zone: 18 September 2025, IHM Kolkata
* West Zone: November 2025, IHM Mumbai
* South Zone: 18 December 2025, IHM Kovalam

Winners from each region will compete in the grand finale, scheduled for January 2026 at IHM Pusa, New Delhi.

In addition to the competition, the NYCC will host career sensitisation workshops for students of Classes 11 and 12 at each zonal venue. These workshops aim to address the declining enrolment in hospitality education and introduce young students to career opportunities in the culinary industry.

Calling the NYCC a “movement” that brings together industry, academia and youth, Mr Rajan Sehgal, Co-Chair of the Tourism Committee, PHDCCI, said the initiative is vital for celebrating India’s gastronomic wealth. Dr Chef Manjit Gill, President of IFCA, added, “NYCC is not just a contest but a cultural revival. It’s a call to preserve and modernise India’s diverse food legacy.”

The event also saw the presence of notable figures from the culinary and hospitality sector, including Chef Sudhir Sibal, Chef Anil Grover, Mr Rajan Bahadur (THSC), Prof Kamal Kant Pant (IHM Pusa), Mr Amarjit Singh Ahuja (Le Meridien), and Ms Shalini S Sharma of PHDCCI, who outlined the detailed roadmap for the competition.

The NYCC has garnered support from over 130 hospitality institutions nationwide and is backed by leading industry partners such as Venus Industries, Nestlé Professional, Wagh Bakri Tea Group, Cremica, McCain Foods and others. Winners will receive cash prizes, internship opportunities, international exposure, and special recognition for the ‘Best Sustainable Dish’.

July 16, 2025
CDS Anil Chauhan urges push for indigenous counter-drone systems

Source: Government of India

Source: Government of India (4)

Chief of Defence Staff General Anil Chauhan on Wednesday underlined the importance of developing indigenous counter-unmanned aerial systems (UAS) to strengthen India’s security and reduce reliance on foreign technologies.

Speaking at an event at the Manekshaw Centre in Delhi, General Chauhan said that depending on imported systems limits preparedness, production scalability, and critical spare parts availability.

“Operation Sindoor has shown us why indigenously developed counter-UAS systems, built for our terrain and needs, are crucial. We must invest and build to safeguard ourselves. Dependence on foreign technologies weakens our preparedness and gives adversaries an advantage,” he said.

He pointed out that during Operation Sindoor, launched on May 7, Pakistan used unarmed drones and loitering munitions against India, but failed to cause any damage. Most drones were neutralised through kinetic and non-kinetic means.

“The employment of drones is evolutionary, but their impact on warfare has been revolutionary,” he added.

General Chauhan also visited an exhibition showcasing efforts to indigenise critical components in UAV and counter-UAS systems, currently imported from foreign manufacturers.

— ANI

July 16, 2025
England fined, docked two WTC points for slow over rate at Lord’s

Source: Government of India

Source: Government of India (4)

England were docked two World Test Championship (WTC) points and fined 10% match fees on Wednesday for their slow over rate in the third test against India at Lord’s.

The hosts went 2-1 up in the five-test series with a thrilling 22-run victory but were found two overs short of target in a match where the Dukes ball went out of shape several times and had to be replaced.

“England captain Ben Stokes pled guilty to the offence and accepted the proposed sanction, so there was no need for a formal hearing,” the International Cricket Council said in a statement.

Players lose 5% of their match fees for every over their team fail to bowl in the allotted time. It also costs the team one WTC point.

England slipped from second to third in the WTC standings behind Sri Lanka following the points deduction. Australia, who completed a 3-0 sweep of West Indies earlier this week, lead the standings in the new 2025-2027 cycle.

(Reuters)

July 16, 2025
Air India to restore some international flights following reduction over crash

Source: Government of India

Source: Government of India (4)

Air India said on Tuesday it would partially restore its international flight schedule that was scaled back following the crash involving its flight last month that killed 260 people.

As part of the restoration, Air India will start a thrice-weekly service between Ahmedabad and London Heathrow from August 1 to September 30, replacing the currently operating five-times-a-week flights between Ahmedabad and London Gatwick.

A Boeing 787 Dreamliner bound for London from the Indian city of Ahmedabad began to lose thrust and crashed shortly after takeoff on June 12. All but one of the 242 people on board and 19 others on the ground were killed.

Air India reduced some of its international flights following the crash as part of a “safety pause” that the carrier said allowed it to perform additional precautionary checks on its Boeing 787 aircraft.

The partial service resumption will see some flights being restored from August 1, with full restoration planned from October 1, 2025, Air India said.

As part of the partial resumption, Air India has reduced flights to some destinations in Europe and North America. These include reductions in the frequency of Delhi-to-Paris flights to seven times a week from 12, effective August 1.

Flights on the Delhi-Milan route have been reduced to three times a week from four earlier.

The frequency of flights from Mumbai and Delhi to New York JFK has been cut to six times a week from seven earlier, the airline said.

(Reuters)

July 16, 2025
MIL-OSI Russia: US to impose 19 percent tariff on Indonesian goods – D. Trump

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

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

NEW YORK, July 16 (Xinhua) — Indonesia will pay a 19 percent tariff on all goods exported to the United States, while American exports to Indonesia will be exempt from tariff and non-tariff barriers, U.S. President Donald Trump said on Truth Social on Tuesday.

“I have completed a major deal with the Republic of Indonesia after speaking with its highly respected President Prabowo Subianto. This landmark deal opens the entire Indonesian market to the United States for the first time in history,” he wrote.

As part of the agreement, Indonesia committed to purchasing energy resources worth $15 billion and agricultural products worth $4.5 billion on the American market, as well as 50 Boeing aircraft, the head of the White House added.

According to D. Trump, as a result of the deal, the United States will for the first time gain full access to the Indonesian market, where more than 280 million people live. –0–

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

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MIL OSI Russia News –

July 16, 2025
MIL-OSI Russia: D. Trump announced the introduction of a single tariff for small countries in the amount of slightly more than 10 percent

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

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

NEW YORK, July 16 (Xinhua) — The United States will impose a flat tariff of just over 10 percent on smaller countries, including many in Africa and the Caribbean, US President Donald Trump said on Tuesday.

“We’ll probably put a single tariff on all of them,” he told reporters at Andrews Air Force Base in Maryland. That could be a duty of just over 10 percent on goods from at least 100 countries, the Associated Press quoted the president as saying.

Earlier in the day, Trump announced a deal with Jakarta in which Indonesia will pay a 19 percent tariff on all goods exported to the United States, while American exports to the Asian country will be exempt from tariff and non-tariff barriers.

The White House chief recently sent letters to leaders of several countries, including a number of major US trading partners, announcing 20-50 percent tariffs effective August 1.

D. Trump also said that he could announce tariffs on pharmaceuticals at the end of July. –0–

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

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MIL OSI Russia News –

July 16, 2025
MIL-OSI Asia-Pac: CS visits Heilongjiang Province (with photos/video)

Source: Hong Kong Government special administrative region

The Chief Secretary for Administration, Mr Chan Kwok-ki, arrived in Harbin, Heilongjiang Province yesterday afternoon (July 15), to continue his visit.

Mr Chan met with the Secretary of the CPC Heilongjiang Provincial Committee, Mr Xu Qin, to exchange views on deepening co-operation between Hong Kong and Heilongjiang Province. Mr Chan said that over the past year, Hong Kong and Heilongjiang have had mutual engagements, close exchanges and co-operation efforts that have reached an unprecedented level. At the Heilongjiang-Hong Kong Investment Cooperation Conference held in Hong Kong in March this year, the two places signed Memoranda of Understanding for strengthening co-operation on education, economics and trade, culture and tourism, sports and youth, and other fields, breaking new ground and laying a solid foundation for future co-operation. He said that Hong Kong possesses the unique advantages under the “one country, two systems” principle and a business environment that is highly market-oriented and internationalised, underpinned by the rule of law and an array of global professional talent and services. Mr Chan said he eagerly looks forward to deepening co-operation in all aspects between Hong Kong and Heilongjiang, complementing each other’s strengths,and achieving mutual benefits to make greater contributions to building a great country and realising the rejuvenation of the Chinese nation.

Afterwards, Mr Chan attended the launch ceremony of the Hong Kong Patriotic Education Heilongjiang Study Tour under the Strive and Rise Programme. On behalf of the Hong Kong Special Administrative Region (HKSAR) Government, he expressed gratitude to the Heilongjiang Provincial Government for its strong organisational support work for the study tour, which travelled to and from Harbin by chartered flights arranged by Greater Bay Airlines. With over 130 participants, this study tour is the largest tour in scale since the launch of the Strive and Rise Programme. Mr Chan said at the event that given the rapid advancements in the country’s science and technology sectors, Heilongjiang Province has also developed various high-tech industries. He encouraged the participants to engage in different activities on the study tour to deepen the understanding of the country’s history, culture and economic development, and experience fascinating technological innovations. These will help the participants set goals for their future and strive for upward mobility.

This morning (July 16), Mr Chan and members of the study tour visited the Exhibition Hall of Evidences of Crime Committed by Unit 731 of the Japanese Imperial Army, which is one of the first batch of 100 demonstration bases for patriotic education in the country. The visit allowed the participants to gain a deeper understanding of the crimes of Unit 731 through the displayed objects, pictures, archives, multimedia materials etc. Mr Chan said that this year marks the 80th anniversary of victory in the War of Resistance, and the exhibition hall is an important place for patriotic education. He said he hopes that members of the study tour will take this opportunity to gain a deeper understanding of the hardships in national development and building a strong nation, cultivate a deeper and firmer patriotic sentiment through recognising historical facts, and consciously shoulder the responsibility of safeguarding national security.

In the afternoon, Mr Chan met with the Secretary of the CPC Harbin Municipal Committee, Mr Yu Hongtao. They exchanged views on promoting exchanges and co-operation in various aspects between the two places in the future. Noting that Harbin has been added as one of the Mainland cities eligible for the Individual Visit Scheme since May last year, and that direct flights between Hong Kong and Harbin have been launched, Mr Chan said that the partnerships between the two places have become closer. He expressed his hope for the two cities to work together to explore more co-operation opportunities. In addition, Mr Chan mentioned that the HKSAR Government is steadfastly carrying out the work of patriotic education, including organising more Mainland exchange and study tours. He said he expected more Hong Kong young people to visit Harbin for exchanges and study, with an aim of enhancing Hong Kong young people’s sense of identity with, sense of belonging to, and pride towards the country.

Mr Chan will conclude his visit and return to Hong Kong this afternoon.

MIL OSI Asia Pacific News –

July 16, 2025
MIL-OSI Asia-Pac: LCQ 15: Formulating a comprehensive population policy

Source: Hong Kong Government special administrative region

Following is a question by the Hon Nixie Lam and a written reply by the Secretary for Home and Youth Affairs, Miss Alice Mak, in the Legislative Council today (July 16):

Question:

According to data from the Census and Statistics Department, Hong Kong’s total fertility rate in 2024 was only 0.841, far below the 2.1 level required for population replacement. Furthermore, a survey by a youth service organisation indicated that only 36 per cent of young people in Hong Kong who had responded in the survey expressed a preference for marriage or childbearing. Another survey showed that just around 23.27 per cent of respondents aged between 19 and 29 expressed a desire to have children, ranking among the lowest levels globally. There are views that the Government should adopt measures to enhance marriage and fertility rates among young people and develop a comprehensive population policy to avoid population ageing and workforce shrinkage. In this connection, will the Government inform this Council:

(1) whether it will commence a systematic survey and study on the marriage and fertility situation of young people in Hong Kong, so as to deeply analyse the core factors influencing their decisions regarding marriage and childbearing, particularly through assessment in areas such as financial burdens, housing difficulties and job stability, with a view to gaining a more precise understanding of their concerns and expectations; if so, of the direction and timetable of the survey and study; if not, the reasons for that;

(2) as there are views pointing out that young people’s lack of knowledge and confidence in future planning and gender relations indirectly undermine their willingness to marry and have children, whether the Government will consider, through cross-departmental collaboration, integrating existing fertility support measures for young people (e.g. child-rearing subsidies, priority quotas for public housing allocation, and childcare services for working families) and consolidating such information within the Home and Youth Affairs Bureau’s “HKYouth+” mobile application, as well as adding a designated information corner to the application that covers topics such as reproductive health, sex education, and marriage and fertility support, with a view to strengthening support for young people in the aspects of affective education and reproductive health information; if so, of the timetable; if not, the reasons for that; and

(3) as there are views pointing out that although the Government has established the Human Resources Planning Commission to follow up on population policy, Hong Kong’s current population policy still lacks comprehensiveness, whether the Government will review the Commission’s work or establish a task force coordinated by an official at the level of Secretary of Department to institutionally integrate cross-departmental resources, with a view to formulating more comprehensive population policy objectives for Hong Kong to address the long-term challenges of population development?

Reply:

President,

In consultation with the Chief Secretary for Administration’s Office, the Deputy Chief Secretary for Administration’s Office, the Labour and Welfare Bureau (LWB), the Housing Bureau (HB), the Financial Services and the Treasury Bureau (FSTB) and the Health Bureau (HHB), the consolidated reply to the questions raised by the Hon Nixie Lam is as follows:

(1) & (2) The Census and Statistics Department (C&SD) has been regularly collating data related to marriage and fertility trends across different age groups. The C&SD also publishes feature articles from time to time, giving a brief account of the marriage and fertility trends in Hong Kong and analysing the factors underlying such trends.

Hong Kong and many countries or places worldwide are facing a decline in fertility rate. In the face of this challenge, the Government must formulate measures to raise fertility rate. As such, the Chief Executive (CE) announced in his 2023 Policy Address a host of measures to promote fertility and create a conducive environment for childbearing through a “combination punches” approach. These measures include providing Newborn Baby Bonus, giving families with newborns priority on flat selection and allocation, enhancing child care support and increasing tax concessions. Office/ bureaux implementing the measures include the Deputy Chief Secretary for Administration’s Office, the HB, the LWB, the HHB, the Home and Youth Affairs Bureau (HYAB) and the FSTB.

The Hong Kong Housing Authority (HA) has implemented the Families with Newborns Allocation Priority Scheme and the Families with Newborns Flat Selection Priority Scheme to encourage childbearing by giving incentives to family applicants of public rental housing (PRH) and subsidised sale flats (SSF) sale exercises.

Regarding the allocation of PRH, the HA has implemented the Families with Newborns Allocation Priority Scheme since April 1, 2024. PRH family applications with babies born on or after October 25, 2023 and aged one or below are credited one year of waiting time. As at end-June 2025, about 5 000 PRH applications have been credited one year of waiting time under the scheme, of which about 420 families have already been successfully housed to PRH.

As for SSF, starting from the Sale of Home Ownership Scheme (HOS) Flats 2024 (HOS 2024), the HA has implemented the Families with Newborns Flat Selection Priority Scheme which was announced in the 2023 Policy Address. A quota of about 40 per cent of the new flats for sale (i.e. 2 900 flats) under HOS 2024 were set aside for eligible applicants under the Families with Newborns Flat Selection Priority Scheme and the Priority Scheme for Families with Elderly Members for balloting and priority flat selection. Family applicants of HOS with babies born on or after October 25, 2023 are eligible if their children are aged three or below on the closing day of the application.

During the application period of HOS 2024, the HA received a total of around 106 000 applications. Among them, around 50 000 were family applicants, of which around 19 000 (i.e. about 40 per cent) applied under the Priority Scheme for Families with Elderly Members and Families with Newborns Flat Selection Priority Scheme. Among these 19 000 applicants, 800 applicants have successfully purchased flats through the Families with Newborns Flat Selection Priority Scheme. If eligible families applying under the Families with Newborns Flat Selection Priority Scheme fail to purchase a flat under HOS 2024, they may still apply under the Scheme for priority flat selection as long as their children are aged three or below on the closing day of the application in subsequent SSF sale exercises.

The Government announced in the 2023 Policy Address that a cash reward of $20,000 will be provided to eligible parents for each baby born from October 25, 2023, for a period of three years. Starting from October 25, 2023, parents can submit an application for the bonus at the same time when registering the birth of their baby and applying for a birth certificate. As of end-June 2025, a total of 49 567 qualified applications have been received, and the bonus has been distributed to 48 984 applicants, at a total amount of approximately $979 million. The Deputy Chief Secretary for Administration’s Office is carrying out a review of the Newborn Baby Bonus Scheme.

The Government has been supporting parents who cannot take care of their children temporarily through subsidising non-governmental organisations (NGOs) to provide a variety of day child care services, including Child Care Centres (CCCs), the After School Care Programme and the Neighbourhood Support Child Care Project (NSCCP). To strengthen support for working families in childbearing, the Government has announced the setting up of additional 11 aided standalone CCCs in phases, doubling the total number of service places to reach around 2 000. The Government is extending the After School Care Programme for pre-primary children to cover all districts in phases, and increasing the number of service places under the NSCCP to 2 500 with the estimated number of beneficiaries increasing to 25 000. The Social Welfare Department will also provide information and assistance to private organisations applying for registration to operate CCCs, and encourage private organisations to provide child care support for their employees. Meanwhile, the Government reviews the Working Family Allowance (WFA) Scheme from time to time. The rates of the household and child allowances under the WFA Scheme have been increased by 15 per cent across the board with effect from April 2024, benefiting all households receiving the WFA. The WFA Scheme provides additional allowances for relevant childbearing families, and increasing the rates of the WFA helps further alleviate the burden of grassroots working families. Taking a four-person household with two eligible children as an example, the maximum monthly WFA they may receive have increased from the original amount of $4,200 to $4,830 at present.

As regards tax concessions, starting from the year of assessment (YA) 2023/24, the basic child allowance and the additional child allowance for each child born during the YA have been raised from $120,000 to $130,000. In addition, starting from YA 2024/25, for taxpayers who live with their children born on or after October 25, 2023 and meet the prescribed conditions, the deduction ceiling for home loan interest or domestic rents will be raised from $100,000 to $120,000 for a maximum of 19 YAs. These measures can encourage childbearing by helping taxpayers to alleviate their financial burden from raising children.

As regards antenatal services, currently the Obstetrics and Gynaecology Departments of the Hospital Authority and the Maternal and Child Health Centres (MCHCs) of the Department of Health (DH) provide free antenatal services for all local pregnant women who are eligible persons (who generally refer to holders of Hong Kong Identity Cards or such other persons as may be approved by the Chief Executive of the Hospital Authority/ Director of Health) to ensure the health of the pregnant women and their foetuses. The scope of services includes the first antenatal check-up, personal and family medical history, as well as various investigations and vaccinations conducted by doctors according to the clinical needs of individual pregnant women.

Besides, as announced in the 2024 Policy Address, the DH will revamp maternal and child health and family planning services to strengthen pre-pregnancy counselling and parental education and promote healthy fertility. The DH will provide the new pre-pregnancy health services to reproductive age group women at the MCHCs in phases, support women in preparing for pregnancy through health consultation and counselling, health assessments, arrangement of blood tests and other investigations, and provide nutritional dietary and lifestyle advice, to align with the Government’s policy of encouraging and promoting healthy fertility, as well as protecting and advancing maternal and child health. Details on the above initiatives will be announced at an appropriate juncture. In addition, the DH will review and adjust the scope of the subsidised family planning service currently provided by NGOs, so as to dovetail with the Government’s policy of encouraging and promoting healthy fertility.

The HYAB has been supporting the work of the Family Council (the Council) in promoting a culture of loving families to the general public through organising different publicity programmes and activities. In October 2024, the HYAB and the Council launched the five-year Funding Scheme on the Promotion of Family Education (the Scheme). With an annual funding of $8 million, the Scheme subsidises non-profit-making community projects in promoting family education. NGOs may, based on societal needs, apply to the Scheme for funding to implement projects related to topics such as family building, new parents, and marriage-related. On the other hand, the Council has been encouraging the wider adoption of more diversified and flexible family-friendly employment practices (FFEPs) in the community. Measures include launching promotional videos entitled “Family-friendly Workplace”, which feature various FFEPs adopted by local companies, and collaborating with the Radio Television Hong Kong to produce radio programmes to promulgate different types of FFEPs. These measures will also help foster a pro-family environment.

The HYAB launched the first release of the “HKYouth+” youth mobile application in March 2024, and has been continuously updating it to cater to the needs of young people. Its content cover various areas, including personal development opportunities, local hot topics, national development, world news, arts and leisure, innovation and technology, physical and mental wellness. It aims to help young people expand their knowledge, explore interests and enrich themselves in different aspects. The HYAB will work with relevant bureaux and departments to encourage them to make use of “HKYouth+” for strengthening promotion of various support measures to the youth community.

(3) The population policy straddles a wide range of policy areas, involving various bureaux. For the current term of the HKSAR Government, in addition to the standing committees, the CE and Secretaries and Deputy Secretaries of Departments are now providing high-level steer as necessary through various channels, such as working groups and inter-departmental meetings, to coordinate relevant inter-departmental work.

Chaired by the Chief Secretary for Administration, the Human Resources Planning Commission (HRPC) consolidates resources and efforts of the Government and various sectors to examine, review and holistically co-ordinate policies and measures on human resources, including issues pertaining to the population policy. The HRPC is a high-level policy platform, with eight policy secretaries, including Secretary for Commerce and Economic Development, Secretary for Constitutional and Mainland Affairs, Secretary for Education, Secretary for Financial Services and the Treasury, Secretary for Health, Secretary for Innovation, Technology and Industry, Secretary for Labour and Welfare and Secretary for Security; the Government Economist; the Commissioner for Census and Statistics and the Chairmen of the Employees Retraining Board, the Hong Kong Council for Accreditation of Academic and Vocational Qualifications and the Vocational Training Council as ex-officio members; and non-official members drawn from a diverse mix of experts and stakeholders from different fields and sectors. Since its establishment in 2018, the HRPC has looked into a number of issues to tackle the demographic challenges, facilitating the Government to formulate and refine the relevant policies and measures.

Currently, population policy measures have been subsumed under the portfolios of various bureaux as part of the ongoing efforts. As the Government’s existing steering and inter-departmental co-ordination mechanism are flexible and effective, the Government does not consider it necessary to set up a separate structure for the work on the population policy.

MIL OSI Asia Pacific News –

July 16, 2025
MIL-OSI Asia-Pac: LCQ3: Facilitating enterprises to list in Hong Kong

Source: Hong Kong Government special administrative region

LCQ3: Facilitating enterprises to list in Hong Kong
Question:

    To dovetail with the latest economic trends and corporate needs, the Securities and Futures Commission (SFC) and Hong Kong Exchanges and Clearing Limited (HKEX) are conducting a comprehensive review of the listing regime, including reviewing the listing requirements, improving the vetting process and optimising the thresholds for dual listings, so as to further facilitate the emerging sector and overseas enterprises to raise capital in Hong Kong. In this connection, will the Government inform this Council:

(1) whether it will drive the HKEX and the SFC to adjust the listing thresholds for companies with weighted voting right structures and enterprises from the innovative sector, so as to further attract new economy as well as innovation and technology companies to list in Hong Kong;

(2) whether it will consider driving the HKEX to enhance the public float and market capitalisation requirements for listed companies, so as to facilitate more large-scale and overseas enterprises to list in Hong Kong; and

(3) whether it knows the strategies put in place by the HKEX to enhance the efficiency and flexibility of the vetting process for listing, as well as to provide stronger support and clearer guidance for overseas quality enterprises, in response to the increasingly competitive environment of the international capital market?

Reply:

President,

    As an international financial centre, Hong Kong has been taking forward high-quality development of its capital market through institutional innovation, thereby enhancing the role as a global fundraising hub. In recent years, the Government has driven the Securities and Futures Commission (SFC) and the Hong Kong Exchanges and Clearing Limited (HKEX) to introduce a series of reforms to the listing regime. These include tailored listing mechanisms for new economy enterprises with weighted voting rights (WVR) structures and technology companies, the establishment of a regulatory framework to facilitate dual primary or secondary listing of overseas listed issuers in Hong Kong, etc.

    With the implementation of the series of listing reforms, the primary market has shown notable vibrancy this year. In the first half of the year, Hong Kong recorded 42 initial public offerings (IPOs), raising over HK$107 billion in total, approximately 22 per cent more than the full-year total for last year and ranking first globally in the year-to-date. The number of listing applications is also increasing rapidly. At the end of June, the HKEX was processing over 200 listing applications, the highest level since the same period in 2021. Riding on the positive momentum in 2025, the HKEX and the SFC are taking forward further enhancements to the listing regime so as to boost the vitality and competitiveness of Hong Kong’s listing platform.

    In consultation with the SFC and the HKEX, my response to the three parts of the question is as follows:

(1) and (2) To closely follow market developments, the SFC and the HKEX continuously review their listing regime and related requirements, with a view to attracting more high-quality enterprises including overseas and new economy companies to list in Hong Kong, while balancing relevant risks and investor protection. Notably, the HKEX relaxed the market capitalisation requirement for Greater China issuers seeking secondary listing in Hong Kong and removed the relevant condition of being an “innovative company”. “Grandfathered Greater China issuers” and “non-Greater China issuers” with WVR or variable interest entity structures that meet the secondary listing requirements have also been provided with greater flexibility to obtain primary listing status in Hong Kong.

    In September 2024, the HKEX and the SFC lowered the market capitalisation threshold at the time of listing for specialist technology companies to enhance the flexibility of the relevant listing framework. In addition, a dedicated “technology enterprises channel” (TECH) was launched in May this year to provide tailored guidance to specialist technology and biotechnology companies before they submit their listing applications, thereby providing support to issuers in their listing preparation process. The issuers may also submit listing applications confidentially, taking into account the unique characteristics of relevant enterprises. These measures are also applicable to overseas technology companies. The HKEX and the SFC will allocate resources flexibly based on application volumes to ensure efficient processing.

    The HKEX and the SFC are committed to improving Hong Kong’s listing regime to facilitate listing of more high-quality companies, thereby enhancing the overall competitiveness and vibrancy of Hong Kong as a listing venue. We are conducting a comprehensive review, with the scope of review to cover multiple aspects of the listing regime. In addition to supporting fundraising by enterprises, it also has to safeguard protection of investors’ interests and the overall market quality so as to attract more investors to invest in Hong Kong, which requires in-depth engagement with different stakeholders. We are aware that Dr the Hon Starry Lee and two other Members published a report last week putting forward various recommendations to further enhance the Listing Rules to attract listing of high-quality overseas issuers in Hong Kong. The relevant areas such as reviewing the specific requirements for primary, secondary and dual primary listing, as well as post-listing continuing obligations, etc, are already covered in the scope of the ongoing review by the HKEX and the SFC. Specific proposals will be considered as part of the process. The HKEX will announce relevant enhancement measures with public consultation to be conducted as appropriate once they are ready.

    In addition, the HKEX launched a consultation on proposals to enhance IPO price discovery and open market regulation in December 2024, which include a tiered approach to minimum public float requirements at the time of listing based on issuers’ market capitalisation, and seeking views on whether issuers should be allowed greater flexibility to maintain a lower public float post-listing. The HKEX is currently consolidating and reviewing the feedback received, and will conduct further consultation on specific proposals regarding the ongoing public float requirements.

(3) We are committed to attracting companies of various sizes and with growth potential from around the world to list and raise funds in Hong Kong. To this end, the HKEX has streamlined the listing requirements for overseas issuers and introduced a set of core shareholder protection standards applicable to all issuers to facilitate compliance. The HKEX has also issued guidance for overseas issuers seeking to list in Hong Kong and published further jurisdiction-specific explanatory notes on a need basis. To facilitate fundraising by more high-quality companies in Hong Kong, the SFC and the HKEX implemented the enhanced timeframe for approval of new listing applications last year (Note), thereby improving the transparency and efficiency of the listing application process, and providing greater certainty on the vetting time. Enterprises with dual primary listing that meet the relevant eligibility criteria are currently also eligible for inclusion in Southbound trading of Stock Connect.

    Building on the various enhancements to the listing regime for overseas issuers, HKEX continues to review the scope of recognised stock exchanges to enable companies listed on overseas main markets to seek secondary listing in Hong Kong. Following the inclusion of the Saudi Exchange, the Indonesia Stock Exchange, the Abu Dhabi Securities Exchange and the Dubai Financial Market onto the list of recognised stock exchanges in 2023 and 2024, the HKEX further added the Stock Exchange of Thailand in March this year, bringing the total number of recognised overseas exchanges on the list to 20.

    Looking ahead, the Government, together with the SFC and the HKEX, will continue to step up external promotion efforts to showcase the latest developments and strengths of Hong Kong’s financial services sector, including the listing platform. Meanwhile, the HKEX will explore further expansion of the scope of recognised stock exchanges and simplification of the listing process for overseas issuers, while more proactively providing guidance to facilitate their preparations for listing in Hong Kong.

    Thank you, President.

Note: Including confirmation within 40 business days for general new listing applications, or within 30 business days for eligible A-share companies, on whether there are any major regulatory concerns.
Issued at HKT 14:50

NNNN

CategoriesMIL-OSI

MIL OSI Asia Pacific News –

July 16, 2025
MIL-OSI China: Foreign arrivals in China continue to surge in H1 via visa-free expansion

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

Foreign tourists wait for entry inspection at the Shanghai Pudong International Airport in Shanghai, east China, Jan. 15, 2025. [Photo/Xinhua]

Foreign nationals made 38.05 million cross-border trips to and from China in the first half (H1) of 2025, up 30.2 percent year on year, the National Immigration Administration (NIA) said on Wednesday.

Visa-free entries continued to rise sharply, with 13.64 million foreigners entering China without a visa in the first six months of the year. This category accounted for 71.2 percent of total foreign entries and represented a 53.9-percent year-on-year increase.

Overall, immigration authorities across China had processed 333 million inbound and outbound trips from January to June, marking a 15.8-percent rise year on year, the NIA said at a press conference.

This figure included 159 million trips by mainland residents and 136 million made by residents of Hong Kong, Macao and Taiwan — up 15.9 percent and 12.2 percent, respectively.

The NIA noted that immigration authorities across the country are steadily advancing openness and improving service efficiency.

As part of ongoing policy changes, China recently added Indonesia to its 240-hour visa-free transit policy, bringing the total number of eligible countries to 55. This policy allows travelers from these countries to transit through China without a visa for up to 240 hours.

A new regional visa-free policy has also been introduced, allowing tourist groups from ASEAN countries to enter Xishuangbanna in southwest China’s Yunnan province without a visa.

China has further expanded its visa exemption arrangements, signing new mutual agreements with Uzbekistan, Malaysia and Azerbaijan, and extending unilateral visa-free entry to nine more countries — Brazil, Argentina, Chile, Peru, Uruguay, Saudi Arabia, Oman, Bahrain and Kuwait.

MIL OSI China News –

July 16, 2025
MIL-OSI: Trust and human-AI collaboration set to define the next era of agentic AI, unlocking $450 billion opportunity by 2028
Source: GlobeNewswire (MIL-OSI)

Press contact:
Mollie Mellows
Tel: +44 7342 709384
Email: mollie.mellows@capgemini.com

Trust and human-AI collaboration set to define the next era of agentic AI, unlocking $450 billion opportunity by 2028
- AI agents are poised to deliver up to $450 billion in economic value by 2028 through revenue gains and cost savings, yet the path to scale is currently elusive
- Confidence in fully autonomous AI agents dropped from 43% to 27% in the past year amidst privacy and ethical concerns
- However, AI agents are expected to be involved in most business tasks within three years, with effective human-agent collaboration projected to increase human engagement in high-value tasks by 65%
Paris, July 16, 2025 – Agentic AI is poised to deliver up to $450 billion in economic value by 2028 yet, despite strong momentum, only 2% of organizations have fully scaled deployment and trust in AI agents is declining. Organizations are discovering that AI agents deliver the greatest impact when humans remain actively involved. Nearly three-quarters of executives say the benefits of human oversight outweigh the costs, and 90% view human involvement in AI-driven workflows as either positive or cost-neutral. This is according to the Capgemini Research Institute’s latest report “Rise of agentic AI: How trust is the key to human-AI collaboration”, that finds trust and human oversight are critical factors in realizing the potential of agentic AI, and the gap between intent and readiness is now one of the biggest barriers to realizing the $450 billion opportunity.

Agentic AI is one of the fastest-emerging technological trends, but organizations are still in the early stages of application. While nearly a quarter have already launched pilots and a small number have begun implementation (14%), the majority remain in planning mode. This steady progress stands in contrast to executive ambition – nearly all (93%) business leaders believe that scaling AI agents over the next 12 months will provide a competitive edge, yet nearly half of organizations still lack a strategy for implementing them.

“The economic potential of AI agents is significant but realizing this value depends on more than just the technology, it requires a comprehensive and strategic transformation across people, processes and systems,” said Franck Greverie, Chief Portfolio & Technology Officer, Head of Global Business Lines, and Group Executive Board Member at Capgemini. “To succeed, organizations must remain focused on outcomes, reimagining their processes with an AI-first mindset. Central to this transformation is the need to build trust in AI by ensuring it is developed responsibly, with ethics and safety baked in from the outset. It also means reshaping organizations to support effective human-AI chemistry, creating the right conditions for these systems to enhance human judgment and help deliver superior business outcomes.”

Organizations prioritize transparency as the agentic AI trust gap widens
Trust in fully autonomous AI agents has dropped sharply, from 43% to 27% in the past year alone, with nearly two in five executives believing that the risks of implementing AI agents outweigh the benefits. Only 40% of organizations say they trust AI agents to manage tasks and processes autonomously, while most do not fully trust the technology.

The report finds that as organizations move from exploration to implementation, trust in AI agents grows: for organizations in implementation phase, 47% have an above average level of trust, compared to 37% in exploratory phase. Therefore, organizations are prioritizing transparency, clarity around how AI agents make decisions, and ethical safeguards to drive greater adoption.

Human-AI chemistry is key to lasting adoption
The real promise of agentic AI lies in tackling core business challenges and reimagining how work gets done. Within the next 12 months, over 60% of organizations expect to form human-agent teams where AI agents function as subordinates or enhance human capabilities. This means that AI agents can no longer be considered tools, they are becoming active participants in the team.

70% of organizations believe AI agents will necessitate organizational restructuring, prompting leaders to rethink roles, team structures, and workflows. Enterprises are discovering AI agents deliver most value when humans remain in the loop. With effective human-AI collaboration, organizations expect a 65% increase in human engagement in high-value tasks, a 53% rise in creativity, and a 49% boost in employee satisfaction.

The time to scale is now
The $450 billion dollar opportunity for AI agents to deliver new economic value by 2028 includes both revenue uplift and cost savings, driven by the implementation of semi to fully autonomous AI agents. Scaled adoption is found to hold far greater potential, as organizations with scaled implementation are projected to generate approximately $382 million on average over the next three years, while others may realize around $76 million.

In the near term, AI agents are expected to see most extensive adoption in customer service, IT, and sales, expanding into operations, R&D, and marketing over the next three years. However, most deployments remain at early stages of autonomy with only 15% of all business processes operating at semi-autonomous to fully autonomous levels in a year. While this is expected to rise to 25% by 2028, most agents today function as assistants or copilots, supporting routine tasks rather than independently managing complex workflows.

AI-readiness remains a challenge
Today, most organizations are not equipped to scale agentic AI effectively cites the report. 80% lack mature AI infrastructure and fewer than one in five report high levels of data-readiness. Ethical concerns such as data privacy, algorithmic bias, and lack of explainability remain widespread, yet few organizations are taking decisive action. For example, privacy is the primary concern for over half of organizations (51%), yet only 34% are actively taking steps to mitigate it. Compounding this, only half of business leaders say they understand what AI agents are capable of, and even fewer can identify where these systems outperform traditional automation.

To harness the full potential of AI agents, organizations must move beyond the hype, recommends the report – working toward redesigning processes and reimagining business models, transforming organizational structure, and striking the right balance between agent autonomy and human involvement.

For more information and to download the full report, click here.

Report methodology
The Capgemini Research Institute conducted a global survey of 1,500 executives at organizations each with more than $1 billion in annual revenue across 14 countries. Organizations operate across 13 sectors and all have started to explore Agentic AI. The global survey took place in April 2025. Executives surveyed are at director level and above, and of these, 60% are from data and AI functions, while 40% are from diverse business functions.

About Capgemini
Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.

Get The Future You Want | www.capgemini.com

About the Capgemini Research Institute
The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times – an industry first.

Visit us at https://www.capgemini.com/researchinstitute/

Attachments
- Final-Infographic-AI-Agents
- 07_16_Capgemini Press Release_AI Agents CRI report_EN
The MIL Network –
July 16, 2025
PM Modi announces ex-gratia for victims of Pithoragarh road accident

Source: Government of India

Source: Government of India (4)

Prime Minister Narendra Modi on Tuesday condoled the deaths in a road accident in Uttarakhand’s Pithoragarh district and announced an ex-gratia of ₹2 lakh for the families of each deceased.

“Saddened by the loss of lives due to a road accident in Pithoragarh, Uttarakhand. Condolences to those who have lost their loved ones in the mishap. May the injured recover soon. An ex-gratia of ₹2 lakh from PMNRF would be given to the next of kin of each deceased. The injured would be given ₹50,000,” the Prime Minister’s Office posted on X.

According to police, eight people were killed when a vehicle carrying 13 passengers crashed near the Suni bridge in Muwani town on Tuesday.

Pithoragarh Superintendent of Police Rekha Yadav said rescue operations are underway. “Police officials have reached the spot and rescue operations are underway,” she said.

Uttarakhand Chief Minister Pushkar Singh Dhami also expressed grief over the incident and said the district administration has been directed to ensure proper and timely treatment for the injured. He wished them a speedy recovery.

— ANI

July 16, 2025

MIL-OSI: Q1 Trading Statement for the three months ended 30 June 2025

Source: GlobeNewswire (MIL-OSI)

Intermediate Capital Group plc

16 July 2025

Q1 Trading Statement for the three months ended 30 June 2025

Highlights

AUM of $123bn; fee-earning AUM of $82bn; AUM not yet earning fees of $19bn
Fee-earning AUM up 4%¹ in the quarter, up 11%¹ year-on-year
Fundraising in the quarter of $3.4bn, driven by Europe IX ($1.5bn / €1.3bn) and Infrastructure Europe II ($1.2bn / €1.0bn). Focus from LPs on liquidity and investment performance is continuing to drive manager selection
Infrastructure Europe has shown strong momentum into its final close, with Fund II receiving substantially more client capital than the prior vintage: at 30 June 2025 Infrastructure Europe II had a Total Fund Size of €2.5bn (Fund I: €1.5bn), and we expect to close a further €0.6bn before the end of the current quarter, reaching the hard cap for the strategy
Europe IX has had an impressive start to the fundraise, with global demand from current and new clients attracted by the strategy’s track record of private equity-like returns with downside protection and high DPI. At 30 June 2025 the Total Fund Size was €5.8bn (Europe VIII: €8.1bn)
Investment landscape remains very attractive for a number of strategies, including structured capital, secondaries and real assets equity
FY25 Sustainability and People Report published in June 2025, available here

Unless otherwise stated the financial results discussed herein are on the basis of alternative performance measures (APM) basis; see full year results
1 On a constant currency basis

PERFORMANCE REVIEW

AUM
		Growth¹
	30 June 2025	Last three months	Year-on-year	Last five years (CAGR)
AUM	$123bn	3%	15%	18%
Fee-earning AUM	$82bn	4%	11%	14%

1 On a constant currency basis

Business activity

$bn	Fundraising		Deployment¹		Realisations^1,2
$bn	Q1 FY26	LTM	Q1 FY26	LTM	Q1 FY26	LTM
Structured Capital and Secondaries	1.9	13.3	1.0	9.8	0.4	2.0
Real Assets	1.3	3.2	0.5	2.7	0.3	1.6
Debt³	0.2	5.8	1.3	3.8	0.4	3.9
Total	3.4	22.3	2.8	16.3	1.1	7.5

1 Direct investment funds; 2 Realisations of fee-earning AUM; 3 Includes Deployment and Realisations for Private Debt only.

PERIOD IN REVIEW

AUM and FY26 fundraising

At 30 June 2025, AUM stood at $123bn, fee-earning AUM at $82bn and dry powder at $34bn. The bridge between AUM and fee-earning AUM is as follows:

$m	Structured Capital and Secondaries	Real Assets	Debt	Seed investments	Total
Fee-earning AUM	39,347	9,375	33,472		82,194
AUM not yet earning fees	3,278	1,187	14,639	—	19,104
Fee-exempt AUM	10,686	5,918	1,393	—	17,997
Balance sheet investment portfolio¹	2,412	563	(53)	360	3,282
AUM	55,723	17,043	49,451	360	122,577
1 Includes elimination of $657m (£479m) within Credit due to how the balance sheet investment portfolio accounts for and invests into CLO’s managed by ICG and its affiliates

AUM of $123bn

AUM ($m)	Structured Capital and Secondaries	Real Assets	Debt	Seed investments	Total
At 1 April 2025	51,499	12,922	47,557	379	112,357
Fundraising	1,933	1,355	154	—	3,442
Other additions¹	202	2,050	75	—	2,327
Realisations	(471)	(233)	(585)	—	(1,289)
Market and other movements	2,607	889	2,218	—	5,714
Balance sheet movement	(47)	60	32	(19)	26
At 30 June 2025	55,723	17,043	49,451	360	122,577
Change $m	4,224	4,121	1,894	(19)	10,220
Change %	8%	32%	4%	(5) %	9%
Change % (constant exchange rate)	3%	21%	(1) %	—	3%
1 Other additions within Real Assets includes $1.9bn non fee-eligible leverage capacity within certain Real Estate strategies

Fee-earning AUM of $82bn

Fee-earning AUM ($m)	Structured Capital and Secondaries	Real Assets	Debt	Total
At 1 April 2025	36,086	7,711	31,330	75,127
Funds raised: fees on committed capital	1,470	1,242	—	2,712
Deployment of funds: fees on invested capital	281	162	1,235	1,678
Total additions	1,751	1,404	1,235	4,390
Realisations	(456)	(279)	(774)	(1,509)
Net additions / (realisations)	1,295	1,125	461	2,881
Stepdowns	—	—	—	—
FX and other	1,966	539	1,681	4,186
At 30 June 2025	39,347	9,375	33,472	82,194
Change $m	3,261	1,664	2,142	7,067
Change %	9%	22%	7%	9%
Change % (constant exchange rate)	4%	13%	1%	4%

FY26 fundraising¹

At 30 June 2025, closed-end funds and associated SMAs that were actively fundraising² included Europe IX, Asia-Pacific Infrastructure I and Real Estate equity. We anticipate launching LP Secondaries II during FY26.

¹ The timings of launches and closes depend on a number of factors, including the prevailing market conditions
² Excluding Credit (CLOs and Liquid Credit)

Balance sheet

Balance Sheet Investment Portfolio valued at £2.9bn
Total available liquidity of £1.1bn (FY25: £1.1bn) and net financial debt of £477m (FY25: £629m)

FOREIGN EXCHANGE RATES

	Average rate		Period end
	Q1 FY25	Q1 FY26	31 March 2025	30 June 2025
GBP:EUR	1.1753	1.1759	1.1944	1.1652
GBP:USD	1.2626	1.3507	1.2918	1.3732
EUR:USD	1.0743	1.1488	1.0815	1.1785

COMPANY TIMETABLE

Half year results announcement

13 November 2025

ENQUIRIES

Shareholders and debtholders / analysts:
Chris Hunt, Head of Corporate Development and Shareholder Relations, ICG	+44(0)20 3545 2020
Media:
Clare Glynn, Head of Corporate Communications, ICG	+44(0)79 3435 7794

This results statement may contain forward looking statements. These statements have been made by the Directors in good faith based on the information available to them up to the time of their approval of this report and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward looking information.

ABOUT ICG

ICG (LSE: ICG) is a global alternative asset manager with $123bn* in AUM and more than three decades of experience generating attractive returns. We operate from over 20 locations globally and invest our clients’ capital across Structured Capital; Private Equity Secondaries; Private Debt; Credit; and Real Assets.

Our exceptional people originate differentiated opportunities, invest responsibly, and deliver long-term value. We partner with management teams, founders, and business owners in a creative and solutions-focused approach, supporting them with our expertise and flexible capital. For more information visit our website and follow us on LinkedIn.

*As at 30 June 2025.

The MIL Network –

July 16, 2025

MIL-OSI Russia: The 2025 China-Central Asia Human Rights Development Forum was held in Xi’an

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

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

XI’AN, July 16 (Xinhua) — The 2025 China-Central Asia Human Rights Development Forum was held in Xi’an, capital of northwest China’s Shaanxi Province, on Tuesday.

The event, themed “Deepening Inter-civilizational Exchanges and Mutual Enrichment for the Common Development of Human Rights,” was organized by the China Foundation for Human Rights Development (CHRDF) and brought together more than 60 participants from China and Central Asian countries, including officials from relevant government departments, experts and scholars, media representatives and human rights protection agencies, as well as responsible persons from public organizations.

The main topics for discussion include “diversity of civilizations, Asian value system and global human rights governance”, “jointly building a community with a shared future and promoting the development of human rights”.

Xie Fuzhan, chairman of the China Human Rights Development Foundation, said that in the pursuit of human welfare, no country or nation should be left behind, and cooperation should be pursued to promote development and the results of development should be used to promote progress in human rights.

In his view, as developing countries, China and the five Central Asian countries should strengthen the coordination of development strategies and promote common modernization so as to bring more benefits to the people of the world and continuously improve the level of human rights protection.

The forum participants expressed hope for increased exchanges and cooperation between countries in the area of ensuring human rights.

Previously, a similar forum was held in September 2023 in Beijing and in May 2024 in Astana, respectively. -0-

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

.

MIL OSI Russia News –

July 16, 2025
MIL-OSI Asia-Pac: Prison (Amendment) Rules 2025 to be gazetted on Friday

Source: Hong Kong Government special administrative region

     The Government will publish the Prison (Amendment) Rules 2025 (Amendment Rules) in the Gazette this Friday (July 18), which will take effect immediately on that day.

   A spokesperson for the Security Bureau today (July 16) said, “According to the Decision of the National People’s Congress on Establishing and Improving the Legal System and Enforcement Mechanisms for the Hong Kong Special Administrative Region to Safeguard National Security and the Hong Kong National Security Law, the Hong Kong Special Administrative Region has the constitutional responsibility to continue to improve the legal system and enforcement mechanisms for safeguarding national security steadily so as to continue to prevent, suppress and impose punishment for acts and activities endangering national security effectively. The Prison Rules (PR) have been in operation for many years. We need to review whether the PR can meet the needs of safeguarding national security and modern correctional institution management.”

   The spokesperson added, “Having reviewed the relevant law enforcement experience in the past in respect of custody of convicted persons in custody (PICs) and prisoners awaiting trial, potential national security risks and security threats that may be faced by correctional institutions in the future, and relevant law and practices in other jurisdictions (including the United Kingdom, the United States, Canada, Australia, New Zealand and Singapore), we propose to improve the extant PR, so as to ensure that we can effectively prevent, suppress and impose punishment for acts and activities endangering national security; continue to strengthen the legal basis for correctional officers in discharging their duties; maintain the security, good order and discipline of prisons; and facilitate the rehabilitation of PICs and protect their lawful rights and interests. We also put forward other amendments to strengthen the enforcement effectiveness of the Correctional Services Department. At the same time, we have reviewed and will amend other provisions with a view to making the PR more up-to-date and meeting the needs for the management of correctional institutions.

   “Amidst the present complicated geopolitical situation, national security risks still exist. It is necessary to amend the PR as soon as possible to prevent and resolve relevant risks in a timely manner, the earlier the better, for safeguarding national security effectively.

   “The Amendment Rules will be tabled at the Legislative Council (LegCo) for negative vetting on July 23. The Government will proactively facilitate the scrutiny work of the LegCo, with a view to further strengthening the solid defence in safeguarding national security.”

MIL OSI Asia Pacific News –

July 16, 2025
MIL-OSI Asia-Pac: LCQ4: Measures to cope with economic downturn

Source: Hong Kong Government special administrative region

Following is a question by the Hon Paul Tse and a reply by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, in the Legislative Council today (July 16):

Question:

It has been reported that 300 enterprises in Hong Kong have ceased operation over the first half of this year. Quite a number of enterprises are facing cash flow difficulties, and some are even having their loan called in by the bank (an operation commonly known as “call loan”). Many members of the business sector are worried that, once unable to reverse the fiscal deficit, the Government will raise taxes significantly. Some academics have projected that the Government may need to raise the salaries tax rate to 26.5 per cent before fiscal balance can hopefully be achieved. Against a backdrop of uncertain economic prospects, instability in work income, and substantial increase in living and tax expenses, the public’s investment confidence and desire for consumption have been directly suppressed. In this connection, will the Government inform this Council:

(1) whether it has examined if there are signs that the Government’s fiscal deficit has narrowed since the release of this year’s Budget and if there is room to reduce bond issuance volumes in the future;

(2) in the light of the aforesaid worries of the business sector and members of the public about the economy and tax hikes, what policies or measures are put in place by the authorities to stabilise the confidence of various sectors; whether it can explicitly commit to not raising taxes; and

(3) as it has been reported that a certain major property developer and a number of small and medium-sized developers in Hong Kong are facing operational crises, with some even defaulting on debts and being on the verge of closure, and foreign media have even described a certain major developer as “too big to fail”, so much so that in the event of a closure, it stands to pose a serious crisis to local banks, whether the Government has assessed the negative impact on the banking system, economic structure, unemployment rate, public confidence in investment, consumer sentiment and even government revenue in the event of successive closures of developers, and whether it has formulated counter-measures?

Reply:

President,

Regarding the question raised by the Hon Paul Tse, I will first give a brief account of the latest developments of Hong Kong’s overall economic situation and the Government’s public finance strategies.

The Hong Kong economy grew solidly. Real gross domestic product rose by 2.5 per cent in the full year of 2024 and the year-on-year increase in the first quarter of 2025 is 3.1 per cent, which is significantly higher than the 1.5 per cent average growth of G7 countries in the first quarter of 2025. As regards the stock market, the Hang Seng Index surged by a cumulative 20 per cent in the first half of the year. Our stock market trading as well as initial public offering was active. The average daily turnover for the first half of the year was around $240.2 billion, an increase of 118 per cent when compared with the same period last year. More than $107 billion was raised in the first half of the year, approximately 22 per cent more than the full-year total for last year and ranking first globally in the year-to-date. Nevertheless, certain sectors, such as traditional retail and catering, are still facing greater challenges due to changing consumption patterns of visitors and residents.

On public finances, the 2025-26 Budget outlined a reinforced fiscal consolidation programme, focusing primarily on expenditure control, supplemented by revenue generation, to gradually restore balance to government accounts. According to the Medium Range Forecast (MRF), the Government’s Operating Account will largely achieve balance in 2025-26 and return to a surplus starting from 2026-27. The Capital Account is estimated to record a deficit in the MRF period due to the accelerated development of the Northern Metropolis and other capital works projects relating to the economy and people’s livelihood. Nevertheless, the level of deficit will decline year-on-year from 2026-27 onwards. After taking account of net proceeds from the issuance of bonds, the Consolidated Accounts will return to a surplus starting from 2028-29.

As the question raised by Hon Paul Tse covers a wide range of issues, we have prepared a reply in consultation with the relevant bureaux and the Hong Kong Monetary Authority (HKMA) as follows:

(1) Fiscal deficit and size of bond issuance

A consolidated deficit of $67 billion is expected for this financial year. Due to the fact that some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year, it is premature at this juncture to project our full-year financial results. Nevertherless, the increase in trading volume of the stock market in the first half of the year has led to an increase in stamp duty revenue, rendering support to our public finances. Regarding the size of bond issuance, we have planned to issue a total of about $150 billion to $195 billion worth of bonds per annum under the Government Sustainable Bond Programme and the Infrastructure Bond Programme in the next five years. The size of bond issuance for the current financial year is estimated to be $150 billion. We have no intention to change this target at the present stage.

(2) Economic and tax policy

The Government has all along been adopting a multi-pronged approach to assist enterprises in meeting the challenges of economic restructuring, with a view to reinforcing their confidence in pursuing business development. As regards cash flow pressure, the Government helps small and medium enterprises (SMEs) obtain commercial loans by providing loan guarantees through the SME Financing Guarantee Scheme. Moreover, in the light of market and technological development trends, the Government supports enterprises (particularly SMEs) through Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund), including its E-commerce Easy, the Export Marketing and Trade and Industrial Organisation Support Fund, etc, in upgrading and transformation, as well as tapping into the Mainland and overseas markets.

It must be emphasised that the Government did not raise taxes substantially in the past few years, and has no plan to raise taxes substantially at present. The reinforced fiscal consolidation programme outlined in this year’s Budget also focuses primarily on expenditure control, to be supplemented by revenue generation. On identifying new revenue sources, our principles are to maintain the competitiveness of Hong Kong’s simple and low tax regime by avoiding considerable increase in tax rates or introduction of new taxes, and to uphold the “user pays” and “affordable users pay” principles as far as practicable whilst increasing revenue. The simple and low tax policy that Hong Kong has all alone been pursuing is one of Hong Kong’s core competitiveness. In the latest World Competitiveness Yearbook 2025 published by the International Institute for Management Development, Hong Kong’s competitiveness ranks third globally, in which Hong Kong tops the ranking in “tax policy”. Meanwhile, the Government continues to make strategic use of tax measures in different areas to promote the development of our industries and economic diversification, as well as to enhance Hong Kong’s business environment and competitiveness. As announced in this year’s Budget, we will provide half-rate tax concession for eligible commodity traders to drive the development of maritime services. It is also our plan to formulate proposals on the preferential tax regimes for funds, single family offices and carried interest this year to foster the development of the asset and wealth management industries.

(3) Property related loans’ impact on banking system

The HKMA has been closely monitoring the healthy development of Hong Kong’s banking sector. The Total Capital Ratio of locally-incorporated banks and the average Liquidity Coverage Ratio of the major banks were 24.2 per cent and 182.5 per cent respectively as at end-March this year, well above international standards. Overall, the credit risk associated with local property development and investment loans is manageable. A significant portion of the Hong Kong banks’ exposures relating to local property development and investment loans are to the large players with relatively good financial health. For exposures to small and medium-sized local property developers and investors, including some with weaker financials or higher gearing, banks have already taken credit risk mitigating measures early on, and most of these loans are secured. Besides, there is no concentration of risks at individual borrower level.

The overall asset quality of the banking system is manageable and provisions remain sufficient. The provision coverage ratio (i.e. total of general and specific provisions as a percentage of non-performing loans) stand at around 60 per cent as at end-March this year. If taking into account and deducting the market value of collateral from the non-performing loans, the adjusted provision coverage ratio would be about 145 per cent. The HKMA will strive to maintain a sound banking system by continuing to keep a close watch on the global economic and trade conditions as well as the development of and risk changes in the real estate market, and maintaining close communication with the banking sector.

Thank you, President.

MIL OSI Asia Pacific News –

July 16, 2025
Thousands of Afghans secretly moved to Britain after data leak

Source: Government of India

Source: Government of India (4)

Britain set up a secret scheme to bring thousands of Afghans to the UK after their personal details were disclosed in one of the country’s worst ever data breaches, putting them at risk of reprisals from the Taliban after their return to power.

Concerns that individuals could be targeted by the Taliban led the previous Conservative government to set up the relocation scheme, involving thousands of people and estimated to cost the government about 2 billion pounds ($2.7 billion).

The leak by the Ministry of Defence in early 2022, which led to data being published on Facebook the following year, and the secret relocation programme, were subject to a so-called super injunction preventing the media reporting what happened, which was lifted on Tuesday by a court.

British defence minister John Healey apologised for the leak, which included details about members of parliament and senior military officers who supported applications to help Afghan soldiers who worked with the British military and their families relocate to the UK.

“This serious data incident should never have happened,” Healey told lawmakers in the House of Commons. ”It may have occurred three years ago under the previous government, but to all whose data was compromised I offer a sincere apology.”

The incident ranks among the worst security breaches in modern British history because of the cost and risk posed to the lives of thousands of Afghans, some of whom fought alongside British forces until their chaotic withdrawal in 2021.

Healey said about 4,500 Afghans and their family members have been relocated or were on their way to Britain under the previously secret scheme.

But he added that no-one else from Afghanistan would be offered asylum because of the data leak, citing a government review which found little evidence of intent from the Taliban to seek retribution against former officials.

The review, a summary of which was also published on Tuesday, said more than 16,000 people affected by it had been relocated to the UK as of May this year, though some of those had been relocated to the UK under existing schemes.

News of the leak comes as Britain’s public finances are tight and the right-wing, anti-immigration Reform UK political party leads in the opinion polls.

SUPERINJUNCTION LIFTED

The government is facing lawsuits from those affected by the breach, further adding to the ultimate cost of the incident.

Sean Humber, a lawyer at Leigh Day who has acted for Afghan citizens affected by previous data breaches, said those affected were “likely to have strong claims for substantial compensation” for the anxiety and distress caused by the leak.

British forces were first deployed to Afghanistan in 2001 following the September 11 attacks on the United States, and they played a major role in combat operations there until 2014.

In early 2022, a spreadsheet containing details of Afghans who had worked for the British government prior to the Taliban takeover in 2021 and had applied for relocation to Britain was emailed to someone outside of government systems by mistake.

The super injunction was first granted in 2023 after the Ministry of Defence, under the former Conservative government, argued that a public disclosure of the breach could put people at risk of extra-judicial killing or serious violence by the Taliban.

Prime Minister Keir Starmer’s centre-left government, which was elected last July, launched a review into the injunction, the breach and the relocation scheme.

(Reuters)

July 16, 2025
Iceland volcano erupts for 12th time since 2021

Source: Government of India

Source: Government of India (4)

A volcano erupted in south-west Iceland on Wednesday, the country’s meteorological office said, marking the latest in a series of outbreaks near the capital in recent years.

Often referred to as a land of ice and fire, the North Atlantic island nation with its many glaciers and volcanoes has now seen a dozen eruptions since geological systems on its Reykjanes peninsula reactivated in 2021.

The outbreaks, known as fissure eruptions, are characterised by lava flows emerging from long cracks in the earth’s crust, rather than from a central crater.

The Reykjanes eruptions have not so far posed a threat to the capital Reykjavik, nor have they caused significant dispersals of ash into the stratosphere, avoiding air traffic disruption.

The nearby fishing town of Grindavik, home to nearly 4,000 residents before an evacuation order in 2023, however remains mostly deserted due to the periodic threat from lava flows and related eartquakes.

The Blue Lagoon luxury spa and the nearby Svartsengi thermal power station have also been at risk from lava in some of the previous eruptions.

Experts have said the eruptions in the area could recur for decades, or even centuries.

Iceland, which is roughly the size of the U.S. state of Kentucky and has fewer than 400,000 residents, boasts more than 30 active volcanoes.

That makes the north European island a prime destination for volcano tourism – a niche segment that attracts thousands of thrill seekers every year to sites from Mexico and Guatemala, to Sicily, Indonesia and New Zealand.

(Reuters)

July 16, 2025
Nvidia’s resumption of AI chips to China is part of rare earths talks, says US

Source: Government of India

Source: Government of India (4)

Nvidia’s planned resumption of sales of its H20 AI chips to China is part of U.S. negotiations on rare earths, Commerce Secretary Howard Lutnick said on Tuesday, and comes days after its CEO met President Donald Trump.

“We put that in the trade deal with the magnets,” Lutnick told Reuters, referring to an agreement Trump made to restart rare earth shipments to U.S. manufacturers. He did not provide additional detail.

Nvidia said late on Monday that it is filing applications with the U.S. government to resume sales to China of its H20 graphics processing unit, and has been assured by the U.S. it will get the licences soon.

The planned resumption is a reversal of an export restriction imposed in April that is designed to keep the most advanced AI chips out of Chinese hands over national security concerns, an issue that has found rare bipartisan support. It drew swift questions and criticism from U.S. legislators on Tuesday.

The decision “would not only hand our foreign adversaries our most advanced technologies, but is also dangerously inconsistent with this Administration’s previously-stated position on export controls for China,” Democratic Representative Raja Krishnamoorthi, ranking member of the House of Representatives Select Committee on China, said in a statement.

Republican John Moolenaar, chair of that committee, said in a statement he would seek “clarification” from the Commerce Department.

“The H20 is a powerful chip that, according to our bipartisan investigation, played a significant role in the rise of PRC AI companies like DeepSeek,” Moolenaar said, referring to a Chinese startup that claims to have built AI models at a fraction of the cost paid by U.S. firms such as OpenAI. “It is crucial that the U.S. maintain its lead and keep advanced AI out of the hands of the CCP.”

Shares of Nvidia, the world’s most valuable firm, closed up 4% and were nearly unchanged in after-market trading. Nvidia had estimated that the curbs would cut its revenue by $15 billion.

Nvidia’s plan to resume sales has set off a scramble at Chinese firms to buy H20 chips, two sources told Reuters. The chips that Nvidia will resume selling are the best it can legally offer in China but lack much of the computing power of the versions for sale outside of China because of previous restrictions put in place by Trump’s first administration and then President Joe Biden’s administration.

But critically, H20 chips work with Nvidia’s software tools, which have become a de facto standard in the global AI industry.

CEO Jensen Huang, who is visiting Beijing and set to speak at an event on Wednesday, has argued that Nvidia’s leadership position could slip away if the company cannot sell to Chinese developers being courted by Huawei Technologies with chips produced in China.

The significance of the shift depends on the volume of H20 chips that the U.S. allows to be shipped to China, said Divyansh Kaushik, an AI expert at Beacon Global Strategies, a Washington-based advisory firm.

“If China is able to get a million H20 chips, it could significantly narrow, if not overtake, the U.S. lead in AI,” he said.

CHINA IS CRUCIAL

“The Chinese market is massive, dynamic, and highly innovative, and it’s also home to many AI researchers,” Huang told Chinese state broadcaster CCTV on Tuesday.

China generated $17 billion in revenue for Nvidia in the fiscal year ending January 26, or 13% of total sales, based on its latest annual report.

Internet giants ByteDance and Tencent 0700.HK are also in the process of submitting applications for H20 chips, the sources familiar with the matter said. Central to the process is an approved list put together by Nvidia for Chinese companies to register for potential purchases, one of the sources said.

Tencent did not respond to a request for comment. ByteDance denied in a statement that it is currently submitting applications. Nvidia declined to comment on the approved list system.

Asked at a regular foreign ministry briefing in Beijing about Nvidia’s plans to resume AI chip sales, a spokesperson said: “China is opposed to the politicisation, instrumentalisation and weaponisation of science, technology and economic and trade issues to maliciously blockade and suppress China.”

China halted exports of rare earths in March following a trade spat with Trump that has shown some signs of easing. It dominates the market for rare earths, a group of 17 metals used in cellphones, weapons, electric vehicles, and more.

Huang’s visit is being closely watched in both China and the United States, where a bipartisan pair of senators last week sent the CEO a letter asking him to abstain from meeting companies working with military or intelligence bodies.

The senators also asked Huang to refrain from meeting with entities named on the United States’ restricted export list.

Rival AI chipmaker AMD also said the Department of Commerce would review its licence applications to export its MI308 chips to China; it plans to resume those shipments when licences are approved, it said. Its shares gained 7% in trading on Tuesday.

(Reuters)

July 16, 2025
Millions benefitted, focus will remain on youth: PM Modi on 10 years of Skill India

Source: Government of India

Source: Government of India (4)

Prime Minister Narendra Modi on Tuesday reaffirmed the government’s commitment to building a skilled and self-reliant workforce as the Skill India Mission completed ten years.

Calling the mission a “transformative initiative”, PM Modi said it has empowered millions of young people across the country with new skills and opportunities.

In reply to a post on social media platform X by MyGovIndia and Union Minister Jayant Singh, the Prime Minister said, “Skill India is strengthening the resolve to make our youth skilled and self-reliant.”

“The Skill India initiative has benefited countless people, empowering them with new skills and creating opportunities. In the coming times as well, we will keep focusing on equipping our Yuva Shakti with new skills, in line with global best practices, so that we can realise our dream of a Viksit Bharat,” the PM added.

https://x.com/narendramodi/status/1945137452588409051

Launched in 2015, the Skill India Mission aims to train millions in industry-relevant skills to enhance employability and promote entrepreneurship. The government has said it will continue to expand skilling programmes to meet global standards and help India’s youth contribute to building a developed nation.

July 16, 2025
MIL-OSI China: Qinghai pioneers green growth with ecology-first strategy

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

Standing at the heart of a 609-sq-km photovoltaic park located in the Talatan Gobi Desert in Gonghe County, northwest China’s Qinghai Province, China Arab TV correspondent Ayoub Bechrouri enthusiastically began recording his report with his smartphone.

Behind him stretches a captivating “blue sea” — an endless expanse of photovoltaic panels covering the landscape. Beneath these gleaming solar arrays, verdant grasslands thrive where flocks of sheep graze contentedly, showcasing the perfect harmony between renewable energy and sustainable agriculture.

“This is a good example of green energy development,” Bechrouri said. “I hope to see China-Arab collaboration bring Chinese technologies to Arab countries.”

Hailing from Morocco, Bechrouri was part of a delegation of around 30 international journalists from countries including the United States, Germany, Japan and Spain on a three-day tour of Qinghai organized by China’s State Council Information Office. The media delegation experienced firsthand how this northwestern province is pioneering China’s ecological civilization drive through concrete green development projects.

ECO-FRIENDLY ENERGY

“In a sunny country like Spain, people have been paying attention to the ecological impact of the construction of large photovoltaic power stations,” said Alvaro Alfaro Ruiz-Alberdi, a journalist at the Spanish news agency Agencia EFE. “I find it interesting to examine how Qinghai maintains the balance between this energy development and environmental protection.”

The Spanish correspondent found the answer at this very photovoltaic park, one of the highest-capacity solar power facilities globally, in Gonghe.

The park’s innovative eco-industrial model — power generation atop solar panels, grass cultivation between panels, and sheep grazing beneath them — has restored vegetation coverage to 80 percent in an area that was once a dust-blown stretch of the Gobi Desert, according to Wang Anwei, director of the energy bureau of Hainan Tibetan Autonomous Prefecture, which administers Gonghe.

This agrivoltaic model has also boosted income for livestock farming, generating over 10,000 yuan (about 1,398 U.S. dollars) per mu (about 0.07 hectares), and has helped lift 173 neighboring villages out of poverty.

“Now my flock has grown to about 800 sheep, and my income from grazing alone has doubled compared to before,” said Zhao Guofu, a herder who began grazing his sheep here six years ago.

By the end of 2024, the total investment in clean energy in the Hainan Tibetan Autonomous Prefecture reached 16.18 billion yuan, with annual clean energy power generation amounting to 46.32 billion kWh. Notably, photovoltaic power generation was about 17.9 billion kWh, representing a year-on-year increase of 16.21 percent.

IMPROVED BIODIVERSITY PROTECTION

In the summer, Qinghai Lake, located in the northeastern part of the Qinghai-Xizang Plateau, shimmers with azure waves, teeming with visitors. Brown-headed gulls wheel above the water surface, while vast schools of the lake’s unique species, naked carp, which is classified as vulnerable on the China Species Red List, glide beneath.

“The naked carp constitutes over 90 percent of the lake’s total fish population and serves as the primary prey for birds such as brown-headed gulls. This species plays a vital role in maintaining the ecosystem and biodiversity of the Qinghai Lake basin,” said Wang Shuning, with the protection and utilization administration of the Qinghai Lake scenic area.

Due to overfishing and environmental deterioration, the population of naked carp sharply declined in the 1960s and 1970s. In order to protect the species and restore the Qinghai Lake environment, Qinghai banned naked carp fishing at the lake in 2001, following a series of temporary prohibitions from the 1980s onward.

Between 2002 and 2023, the biomass of naked carp increased nearly 46-fold. Additionally, as the only habitat of Przewalski’s gazelles, an endangered antelope species, the Qinghai Lake basin has seen the total number of the species recover from fewer than 300 at the beginning of conservation efforts to approximately 3,400 currently. This remarkable growth reflects the concerted conservation efforts by both the Chinese government and local communities.

The province has adopted a holistic approach to the protection and systematic governance of the symbiotic ecosystem of “water-grass-fish-birds-animals” in the Qinghai Lake basin. It has established monitoring platforms for ecological sensing and hydrological early warning, and has gradually set up over 300 ecological monitoring sites.

Two years ago, local resident Dorje Tsomo became an ecological ranger at the Qinghai Lake scenic area. On duty, she always carries a camera to document environmental changes around the lake and a field manual compiling 98 species of waterbirds, which serves as her constant reference for learning their distinctive features, distributions and conservation statuses.

“We also use a WeChat mini-program to document patrol routes, while nearby villagers promptly report injured birds. Together, we protect Qinghai Lake, the home we all share,” she said.

According to Chen Dehui, deputy director of the protection and utilization administration of the Qinghai Lake scenic area, growing numbers of herders are voluntarily taking on new roles — as photographers capturing the lake’s natural beauty and as interpreters in ecological education programs — diversifying their income sources while sharing in the rewards of conservation.

“Qinghai Lake’s ecological conservation is truly impressive,” said Furuta Natsuya, a journalist with Japan’s Hokkaido Shimbun who visited Qinghai for the first time. “Here, I witnessed a genuine model of human-nature coexistence and felt the profound connection between people and the natural world.”

ECOLOGY-ENRICHED PROSPERITY

In April this year, Kanbula, located in Jainca County of Huangnan Tibetan Autonomous Prefecture in Qinghai, was officially designated as a UNESCO Global Geopark. The park spans roughly 3,149 square kilometers with striking fiery-red Danxia landforms, towering jagged peaks, hidden caves and emerald lakes.

“This world-class geological landmark not only enhances geo-conservation efforts, but also accelerates local infrastructure development, drawing global visitors to fuel cultural tourism revenues in the area,” said Hou Guangliang, a professor at Qinghai Normal University’s school of geographical sciences.

In recent years, Dekyi Village, which is near the geopark, has become a living example of turning “ecological assets into economic gains.”

“Thanks to government-sponsored training programs, our family now runs a homestay and agritourism business,” local villager Jorgyi said. “Last year, we earned over 70,000 yuan, and this year looks even more promising.”

The village receives over 200,000 annual visitors, generating more than 1 million yuan in collective and individual dividends.

“Like many regions in Hokkaido facing population decline, I’m particularly interested in rural revitalization. I hope to gain firsthand insights into how Chinese grassroots communities have experienced poverty alleviation and the tangible outcomes of government initiatives,” said Furuta.

Both China and Japan are actively exploring sustainable development pathways, Furuta noted, adding that the Qinghai visit gave him profound insight into how both countries’ successful practices in community governance, ecotourism and cultural integration merit mutual learning.

MIL OSI China News –

July 16, 2025
MIL-OSI New Zealand: New Zealand and Malaysia commit to boosting halal meat trade

Source: New Zealand Government

New Zealand and Malaysia have committed to boosting trade in high-quality halal meat products.

Minister for Food Safety Andrew Hoggard says, “Malaysia is a significant market for New Zealand’s premium halal meat products, with exports of more than $60 million last year.”

“Malaysia is facilitating the approval of several New Zealand halal meat premises seeking first-time access to this market, which is crucial to growing exports.

“With a population of more than 35 million people, new access will help set the stage for significant growth in the Malaysian market.

“Once approved, this will boost returns for Kiwi farmers, processors and exporters,” Mr Hoggard says.

Malaysian authorities will visit the new premises to review their halal production processes as part of the approval process.

This progress was announced at a Halal Forum in Wellington today, hosted by Mr Hoggard and Malaysia Deputy Prime Minister and Minister for Rural and Regional Development Dato’ Seri Dr. Ahmad Zahid bin Haji Hamidi.

Dato’ Seri Zahid says New Zealand and Malaysia are also working closely together to streamline the export requirements for New Zealand halal meat.

“Malaysia places significant importance on compliance with halal requirements.”

“We are working hard with New Zealand to strengthen halal collaboration, which includes refreshing the requirements for the export of halal meat to Malaysia. This is a testament to the strong relationship between both countries, and the confidence Malaysia has in New Zealand’s halal processing and assurance systems,” Dato’ Seri Zahid says.

Mr Hoggard says the refreshed requirements will help provide certainty for Kiwi producers in areas including registration of new premises, documentation, processing, labelling, packaging, and storage.

“New Zealand remains fully committed to our strong relationship with Malaysia and supplying the best quality halal products to consumers in this important market.”

MIL OSI New Zealand News –

July 16, 2025

MIL-OSI: Richemont posts solid start to the year for its first quarter ended 30 June 2025

Source: GlobeNewswire (MIL-OSI)

AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

16 JULY 2025

RICHEMONT POSTS SOLID START TO THE YEAR FOR ITS FIRST QUARTER ENDED 30 JUNE 2025

Highlights for the quarter ended 30 June 2025

Group sales at € 5.4 billion, up by 6% at constant exchange rates and by 3% at actual exchange rates in a volatile macroeconomic and geopolitical context
Continued strength at Jewellery Maisons, up by 11% at constant exchange rates; softer sequential rate of decline at Specialist Watchmakers, down by 7%; ‘Other’, including Fashion & Accessories Maisons, at -1%
Double-digit growth in Europe, the Americas and Middle East & Africa; stable sales in Asia Pacific at constant exchange rates; Japan down on high comparatives in prior-year period
Consistent growth across all distribution channels, led by Jewellery Maisons
Robust net cash position at € 7.4 billion, after cash transferred to YNAP upon closing of the sales transaction with LuxExperience

April-June		2025	2024	Movement at:
		€m	€m	constant rates	actual rates
By region	Europe	1 295	1 171	+11%	+11%
	Asia Pacific	1 731	1 809	–	-4%
	Americas	1 335	1 215	+17%	+10%
	Japan	527	603	-15%	-13%
	Middle East & Africa	524	470	+17%	+11%

By distribution channel	Retail	3 734	3 631	+6%	+3%
	Online retail	323	315	+6%	+3%
	Wholesale and royalty income	1 355	1 322	+6%	+2%

By business area	Jewellery Maisons	3 914	3 656	+11%	+7%
	Specialist Watchmakers	824	911	-7%	-10%
	Other	674	701	-1%	-4%
Total		5 412	5 268	+6%	+3%

Review of trading in the three-month period ended 30 June 2025 versus the prior-year period, at constant exchange rates

Any long form references to Hong Kong, Macau and Taiwan within this company announcement are Hong Kong SAR, China; Macau SAR, China; and Taiwan, China respectively.

At constant exchange rates, Group sales in the quarter ended 30 June 2025 rose by 6% in a volatile global macroeconomic and geopolitical context.

The growth was led by double digit increases in Europe, the Americas and Middle East & Africa, more than offsetting Japan’s sales decline against high prior-year comparatives; sales in the Asia Pacific region remained stable. In Europe, sales grew by 11%, driven by robust demand from local clients and overall positive tourist spend, supported by successful high jewellery events. Almost all main markets in the region saw an increase in sales this quarter, with notable performances in Italy and Germany. In the Americas, sales growth remained strong at +17%, driven by supportive local demand across all business areas and markets. Sales in the Middle East & Africa region rose by 17%, led by the United Arab Emirates market as well as higher tourist spend. In Japan, sales declined by 15% against a demanding +59% comparative in the prior-year period, with a strengthening Yen strongly reducing tourist spend, most notably from Chinese clientele, whilst local demand remained positive. Asia Pacific sales were stable overall versus the prior-year period, as a 7% decline in China, Hong Kong and Macau combined was fully compensated by robust growth in almost all other Asian markets. Of note, sales in Australia and South Korea were up double digits.

Growth was consistent across all distribution channels, each up by 6%, led by Jewellery Maisons. Retail sales accounted for 69% of Group sales, with growth across all regions excluding Japan. Wholesale sales growth was driven by solid increases in the Americas, Europe and Middle East & Africa. Online retail sales showed robust growth across almost all regions.

The Group’s four Jewellery Maisons – Buccellati, Cartier, Van Cleef & Arpels and Vhernier – recorded an 11% rise in sales, marking a third consecutive quarter of double-digit growth, supported by both jewellery and watch product lines. All regions posted growth, except Japan that faced a very high comparative in the prior-year period. Specialist Watchmakers sales were 7% lower than the prior-year period, largely reflecting declines in sales in China, Hong Kong and Macau combined as well as in Japan, partly offset by double-digit growth in the Americas. The Group’s Other business area, which includes Fashion & Accessories Maisons, declined by 1% compared to the prior-year period. Notable highlights included continued solid momentum at Peter Millar and Alaïa, an encouraging performance at Chloé and robust growth at Watchfinder & Co.

The Group’s net cash position at 30 June 2025 stood at € 7.4 billion (2024: € 7.3 billion) after accounting for the € 426 million cash-out upon completion of the sale of YNAP to Mytheresa on 23 April 2025.

Corporate calendar

The annual general meeting will be held on Wednesday 10 September 2025 in Geneva. The interim results for the current financial year will be announced on Friday 14 November 2025. The Group’s corporate calendar is available on https://www.richemont.com/investors/corporate-calendar/.

About Richemont
At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as Watchfinder & Co. Find out more at https://www.richemont.com/ .

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. The ‘A’ shares are also traded on the Johannesburg Stock Exchange, Richemont’s secondary listing.

Investor/analyst and media enquiries

Alessandra Girolami, Group Investor Relations Director

James Fraser, Investor Relations Executive

Investors/analysts enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net

Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Disclaimer

The financial information contained in this announcement is unaudited.

This document contains forward-looking statements as that term is defined in the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Richemont’s forward-looking statements are based on management’s current expectations and assumptions regarding the Company’s business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. Our retail stores are heavily dependent on the ability and desire of consumers to travel and shop and a decline in consumers traffic could have a negative effect on our comparable store sales and/or average sales per square foot and store profitability resulting in impairment charges, which could have a material adverse effect on our business, results of operations and financial condition. Reduced travel resulting from economic conditions, retail store closure orders of civil authorities, travel restrictions, travel concerns and other circumstances, including disease epidemics and other health-related concerns, could have a material adverse effect on us, particularly if such events impact our customers’ desire to travel to our retail stores. International conflicts or wars, including resulting sanctions and restrictions on importation and exportation of finished products and/or raw materials, whether self-imposed or imposed by international countries, non-state entities or others, may also impact these forward-looking statements. If international tariffs are imposed or increased, materials and goods that Richemont imports may face higher prices, which could lead to reduced margins or increased prices that could cause decreased consumer demand. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside the Group’s control. Richemont does not undertake to update, nor does it have any obligation to provide updates of, or to revise, any forward-looking statements.

This announcement does not contain full details and should not be used as a basis for any investment decision in relation to the Company’s shares. Please find the full announcement available in PDF below:

Richemont FY26 – Q1 Sales PDF EN

The MIL Network –

July 16, 2025

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