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Category: Asia

  • Trump to meet Qatar’s PM to discuss Gaza ceasefire deal, Axios reports

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump will meet with Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani on Wednesday to discuss negotiations over a Gaza ceasefire deal, Axios reporter Barak Ravid posted on X.

    Israeli and Hamas negotiators have been taking part in the latest round of ceasefire talks in Doha since July 6, discussing a U.S.-backed proposal for a 60-day ceasefire that envisages a phased release of hostages, Israeli troop withdrawals from parts of Gaza and discussions on ending the conflict.

    Trump’s Middle East envoy Steve Witkoff had said on Sunday that he was “hopeful” on the ceasefire negotiations underway in Qatar, a key mediator between the two sides.

    U.S., Qatari and Egyptian mediators have been working to secure an agreement, however, Israel and Hamas are divided over the extent of an eventual Israeli withdrawal from the Palestinian enclave.

    The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered in October 2023 when Hamas attacked Israel. Israel says Hamas killed 1,200 and took about 250 hostages.

    Gaza’s health ministry says Israel’s subsequent military assault has killed over 58,000 Palestinians. It has also caused a hunger crisis, internally displaced Gaza’s entire population and prompted accusations of genocide at the International Court of Justice and of war crimes at the International Criminal Court. Israel denies the accusations.

    A previous two month ceasefire ended when Israeli strikes killed more than 400 Palestinians on March 18. Trump earlier this year proposed a U.S. takeover of Gaza, which was condemned globally by rights experts, the U.N. and Palestinians as a proposal of “ethnic cleansing.”

    Trump and Sheikh Mohammed are also expected to discuss efforts to resume talks between the U.S. and Iran to reach a new nuclear agreement, Ravid added citing a source familiar with the matter.

    (Reuters)

  • MIL-OSI: ASML reports €7.7 billion total net sales and €2.3 billion net income in Q2 2025

    Source: GlobeNewswire (MIL-OSI)

    ASML reports €7.7 billion total net sales and €2.3 billion net income in Q2 2025
    Full-year 2025 expected total net sales growth of around 15% with gross margin around 52%

    VELDHOVEN, the Netherlands, July 16, 2025 – Today, ASML Holding NV (ASML) has published its 2025 second-quarter results.

    • Q2 total net sales of €7.7 billion, gross margin of 53.7%, net income of €2.3 billion
    • Quarterly net bookings in Q2 of €5.5 billion2 of which €2.3 billion is EUV
    • ASML expects Q3 2025 total net sales between €7.4 billion and €7.9 billion, and a gross margin between 50% and 52%
    • ASML expects a full-year 2025 total net sales increase of around 15% relative to 2024, with a gross margin of around 52%
    (Figures in millions of euros unless otherwise indicated) Q1 2025   Q2 2025
    Total net sales 7,742   7,692
    …of which Installed Base Management sales1 2,001   2,096
    New lithography systems sold (units) 73   67
    Used lithography systems sold (units) 4   9
    Net bookings2 3,936   5,541
    Gross profit 4,180   4,130
    Gross margin (%) 54.0   53.7
    Net income 2,355   2,290
    EPS (basic; in euros) 6.00   5.90
    End-quarter cash and cash equivalents and short-term investments 9,104   7,248

    (1) Installed Base Management sales equals our net service and field option sales.
    (2) Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted.
    Numbers have been rounded for readers’ convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.com.


    CEO statement and outlook
    “Our second-quarter total net sales came in at €7.7 billion, at the top end of our guidance. The gross margin was 53.7%, above guidance, primarily driven by higher upgrade business and one-offs resulting in lower costs.

    “We see continued progress in litho intensity, particularly in DRAM, and the introduction of the TWINSCAN NXE:3800E reinforces that momentum. Meanwhile, EUV adoption is advancing as planned, including High NA. This quarter, we shipped the first TWINSCAN EXE:5200B system.

    “Looking at 2026, we see that our AI customers’ fundamentals remain strong. At the same time, we continue to see increasing uncertainty driven by macro-economic and geopolitical developments. Therefore, while we still prepare for growth in 2026, we cannot confirm it at this stage.

    “We expect third-quarter total net sales between €7.4 billion and €7.9 billion, with a gross margin between 50% and 52%. We expect R&D costs of around €1.2 billion and SG&A costs of around €310 million. For the full year 2025, we expect a 15% increase in total net sales and a gross margin of around 52%,” said ASML President and Chief Executive Officer Christophe Fouquet.

    Update dividend and share buyback program
    An interim dividend of €1.60 per ordinary share will be made payable on August 6, 2025.

    In the second quarter, we purchased around €1.4 billion worth of shares under the current 2022–2025 share buyback program.

    Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend are published on ASML’s website (www.asml.com/investors).

    Media Relations contacts Investor Relations contacts
    Monique Mols +31 6 5284 4418 Jim Kavanagh +31 40 268 3938
    Willem van Ewijk +31 6 2744 1187 Pete Convertito +1 203 919 1714
    Karen Lo +886 9 397 88635 Peter Cheang +886 3 659 6771
    Sarah de Crescenzo +1 925 899 8985  

      
    Quarterly video interview and investor call
    With this press release, ASML is publishing a video interview in which CEO Christophe Fouquet and CFO Roger Dassen discuss the 2025 second quarter and outlook for 2025. This video and the video transcript can be viewed on www.asml.com shortly after the publication of this press release.

    An investor call for both investors and the media will be hosted by CEO Christophe Fouquet and CFO Roger Dassen on July 16, 2025 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website.

    About ASML
    ASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity’s toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across EMEA, the US and Asia. Every day, ASML’s more than 44,000 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our products, technology and career opportunities – at www.asml.com.

    US GAAP and IFRS Financial Reporting
    ASML’s primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly US GAAP Consolidated Statements of Operations, Consolidated Statements of Cash Flows and Consolidated Balance Sheets are available on www.asml.com.

    The Consolidated Balance Sheets of ASML Holding N.V. as of June 29, 2025, the related Consolidated Statements of Operations and Consolidated Statements of Cash Flows for the quarter and six-month period ended June 29, 2025, as presented in this press release, are unaudited.

    Today, July 16, 2025, ASML also published its Statutory Interim Report for the six-month period ended June 29, 2025. The Statutory Interim Report is available on www.asml.com.

    Regulated information
    This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Forward Looking Statements

    This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including trends in the semiconductor industry and end markets and business environment trends, expected growth in the semiconductor industry by 2030, our expectation that AI will be the key driver for the industry and the expected impact of AI demand on our business and results, our expectation that lithography will remain at the heart of customer innovation, expected demand, bookings, outlook of market segments, outlook and expected financial results including 2025 second-half outlook, expected results for Q3 2025, including net sales, Installed Base Management sales, gross margin, R&D costs, SG&A costs, outlook for full year 2025, including expected full year 2025 total net sales, gross margin, estimated annualized effective tax rate and expected IBM sales, expected full-year net sales growth percentage relative to 2024, current expectations relating to 2026 including expected drivers and uncertainties and preparation for growth in 2026, statements made at our 2024 Investor Day, including modelled revenue and gross margin opportunity for 2030, statements with respect to tariff announcements and the expected impact of such tariffs on our business and results, our expectation to continue to return significant amounts of cash to shareholders through growing dividends and share buybacks, statements with respect to our share buyback program, and statements with respect to dividends, statements with respect to expected performance and capabilities of our systems and customer plans, statements with respect to our ESG strategy and commitments and other non-historical statements. You can generally identify these statements by the use of words like “may”, “expect”, “will”, “could”, “should”, “project”, “believe”, “anticipate”, “expect”, “plan”, “estimate”, “forecast”, “potential”, “intend”, “continue”, “target”, “future”, “progress”, “goal”, “model”, “opportunity”, “commitment” and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions, plans and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve a number of substantial known and unknown risks and uncertainties. These risks and uncertainties include, without limitation, risks relating to customer demand, semiconductor equipment industry capacity, worldwide demand for semiconductors and semiconductor manufacturing capacity, lithography tool utilization and semiconductor inventory levels, general trends and consumer confidence in the semiconductor industry, the impact of general economic conditions, including the impact of the current macroeconomic environment on the semiconductor industry, semiconductor market conditions, the ultimate impact of AI on our industry and business, the impact of inflation, interest rates, wars and geopolitical developments, the impact of pandemics, the performance of our systems, the success of technology advances and the pace of new product development and customer acceptance of and demand for new products, our production capacity and ability to adjust capacity to meet demand, supply chain capacity, timely availability of parts and components, raw materials, critical manufacturing equipment and qualified employees, our ability to produce systems to meet demand, the number and timing of systems ordered, shipped and recognized in revenue, risks relating to fluctuations in net bookings and our ability to convert bookings into sales, the risk of order cancellation, delays or push outs and restrictions on shipments of ordered systems under export controls, risks relating to the trade environment, import/export and national security regulations and orders and their impact on us, including the impact of changes in export regulations and the impact of such regulations on our ability to obtain necessary licenses and to sell our systems and provide services to certain customers, the impact of the tariff announcements, exchange rate fluctuations, changes in tax rates, available liquidity and free cash flow and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, the number of shares that we repurchase under our share repurchase program, our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation, our ability to meet ESG goals and commitments and execute our ESG strategy, other factors that may impact ASML’s business or financial results, and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F for the year ended December 31, 2024 and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We undertake no obligation to update any forward-looking statements after the date of this report or to conform such statements to actual results or revised expectations, except as required by law.

    Attachments

    The MIL Network –

  • MIL-OSI Asia-Pac: LCQ14: Supporting cinema industry

    Source: Hong Kong Government special administrative region

    LCQ14: Supporting cinema industry 
    Question:
     
    There are views that a number of cinemas in Hong Kong have closed down one after another in recent months and the industry is facing challenges such as rising operational costs and competition from streaming platforms, raising concerns that the wave of cinema closures may continue to spread. On the other hand, as cinemas serve as both an important platform for film exhibition and an important outlet for public consumption, culture and entertainment, the industry’s long-term development is in dire need of government support. In this connection, will the Government inform this Council:
     
    (1) whether it has compiled statistics on the number of cinema closures and new openings in each of the past five years;
     
    (2) whether it has compiled statistics on the following information of the cinemas in each of the 18 districts across the territory at present: (i)‍ ‍the number of cinemas, (ii) ‍the seating capacity, (iii) ‍the number of seats per 1 000 population, (iv) ‍the number of screens, and (v) ‍the average ticket price; and how such figures compare with those from five years ago;
     
    (3) as regards districts with “zero/few cinemas”, whether the Government will, by making reference to past practices, consider including a cinema requirement in the land lease of individual land sale sites, stipulating that the cinema shall not be converted to other uses within the first seven years of operation; whether it has formulated measures to increase cinema supply; if it has, of the details; if not, the reasons for that; and
     
    (4) of the following information on the Cinema Day, which has been sponsored by the Cultural and Creative Industries Development Agency and held since 2023: the annual (i) ‍number of participating cinemas, (ii) ‍number of screenings, (iii) ‍attendance, (iv)‍‍ ‍box-office takings, and (v)‍ ‍amount of government funding; whether it has assessed the effectiveness of the Cinema Day in supporting the development of the cinema industry; whether the authorities have other measures in place to further support the cinema industry?
     
    Reply:
     
    President,
     
    Regarding the questions raised by the Hon Chan Pui-leung, my reply is as follows:
     
    (1) and (2) As at  July 10, 2025, there are 52 cinemas in Hong Kong, representing a decrease of nine cinemas (15 per cent) as compared to 2020 (five years ago). Although the number of cinema closures has increased in recent years, various operators have taken over some of the closed cinemas. The number of cinemas opened and closed, and the average ticket price over the past five years are set out in Annex 1.
     
    Currently, there are cinemas in all the 18 districts except for Wong Tai Sin. The cinema closed earlier in Wong Tai Sin has been taken over by a new operator, and will be reopened in mid-July. A comparison of the number of cinemas, screens, seats and seats per 1 000 population across all districts in Hong Kong in 2020 and 2025 is set out in Annex 2.
     
    (3) Over the past two years, cinema industry has been encountering various challenges, including the rise of streaming platforms, downturn in global film industry, lack of blockbusters with strong appeal, high cinema rental and operational costs, and changes in audience viewing and consumption habits. In addition, both the Hong Kong and global film markets are still adapting to various post-pandemic changes and challenges. Despite the closure of some cinemas over the past two years, we have also seen new cinemas opening and seizing business opportunities. The Government will continue to closely monitor the difficulties and needs of the industry and maintain close communication with the trade. In fact, Cinema Day and 1st October Movie Fiesta: Half-Price Spectacular 2024 (1st October Movie Fiesta) launched by the Government aimed at supporting the cinema industry. Moreover, the Government has provided a range of support of different nature and levels, including nurturing talents and implementing multiple film production support schemes, which will also bring benefits to the cinema industry. However, the provision and operation of cinemas should be market-driven. At present, the Government has no plan to incorporate requirement for provision of cinema in the land sale condition of government land leases.
     
    (4) Cinema Day and 1st October Movie Fiesta have brought confidence and impetus into Hong Kong’s film market. By offering concessionary ticket prices, both initiatives promote film culture to the public, allowing families and friends to enjoy movies in cinemas at affordable prices, thereby cultivating the habit of cinema-going and building audience, which in turn benefits the film industry in the long term. Both the Government and the Hong Kong Theatres Association consider the events effective in bringing new audience to cinemas, with attendance figures significantly increased compared to the same period in previous years and breaking records in attendance and box office receipts. In addition, medium-to-small-scale and niche films have received more attention during the events. Furthermore, restaurants and shops near cinemas offered discounts at the day of the events, providing additional incentive of watching movies at cinemas and boosting consumption in surrounding shops. Overall speaking, Cinema Day and 1st October Movie Fiesta benefit the cinemas, film industry, businesses, and the general public. The number of participating cinemas, screenings, attendance, box office receipts, and amount of government funding of both initiatives are set out in Annex 3.
     
    Both Cinema Day and 1st October Movie Fiesta have received positive feedbacks from the public and the film market. The Government will continue to support Hong Kong film industry by enhancing both quality and quantity of Hong Kong films through the Cultural and Creative Industries Development Agency and the Film Development Fund, with a view to bringing confidence and impetus into the market through quality Hong Kong films. Meanwhile, the Government will also continue to fund projects and activities that build local audience, to cultivate the habit of cinema-going and support the steady development of Hong Kong films and cinema industries.
    Issued at HKT 12:25

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ11: Facilitating re-domiciliation of non-Hong Kong-registered enterprises to Hong Kong

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Edmund Wong and a written reply by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, in the Legislative Council today (July 16):
     
    Question:
     
         The Companies (Amendment) (No. 2) Bill 2024, which was passed on May 14 this year, seeks to introduce a company re-domiciliation regime (the Regime) that enables overseas-registered enterprises to transfer their domicile to Hong Kong without having to undergo winding-up procedures in their original domicile while preserving their legal identities. The Amendment Ordinance took effect on May 23 this year, and the Regime opened for applications on the same day. In this connection, will the Government inform this Council:
     
    (1) of the number of enquiries and applications received by the authorities from overseas enterprises regarding the Regime between May 23 and June 30 this year; the following information on such overseas enterprises applying for re-domiciliation to Hong Kong: (i) nature of business, (ii) company assets and scale, and (iii) original domicile;
     
    (2) whether it has estimated the average processing time from receipt of an application for re-domiciliation from an overseas enterprise to formal approval of the enterprise to establish a presence in Hong Kong (i.e. the successful transfer of its domicile to Hong Kong);
     
    (3) whether any overseas enterprises have successfully established a presence in Hong Kong through the Regime to date; if so, of the number of such enterprises, the nature of their business, their company assets and scale, as well as their original domicile; and
     
    (4) whether it will formulate a promotional plan to promote the Regime through Invest Hong Kong and overseas economic and trade offices to attract more overseas enterprises to apply for re-domiciliation to Hong Kong; if so, of the details of the plan (including the resources involved); if not, the reasons for that?
     
    Reply:
     
    President,
     
         The company re-domiciliation regime commenced on May 23, 2025. A company incorporated outside Hong Kong may apply to the Companies Registry (CR) for re-domiciliation to Hong Kong. The regime reduces the need to go through complicated and costly judicial procedures, and enables a re-domiciled company to maintain its legal identity as a body corporate, thereby ensuring business continuity. An applicant for company re-domiciliation is required to fulfil requirements concerning company background, integrity, member and creditor protection, solvency, etc.
     
         My consolidated reply to the four parts of the question is as follows:
     
         After the implementation of the re-domiciliation regime, two international insurance groups immediately announced their plans to re-domicile to Hong Kong, which is the best testament to the regime’s effectiveness in enhancing companies’ operational efficiency. As at July 11, 2025, the CR received 265 enquiries relating to re-domiciliation. The total number of visits and downloads at the thematic section of the CR’s website exceeded 22 000 and 42 000 respectively, reflecting the positive market response to the new company re-domiciliation regime in Hong Kong. As it takes time for companies planning to re-domicile to Hong Kong to prepare the application documents, and to fulfil the requirements of their place of incorporation and other relevant jurisdictions for the proposed re-domiciliation, the CR has not yet received any formal application for re-domiciliation to Hong Kong from non-Hong Kong enterprises. At the same time, some financial institutions and enterprises have contacted the Financial Services and the Treasury Bureau (FSTB) and expressed that they are preparing to apply for re-domiciliation to Hong Kong. According to the enquiries received by the CR, most of the companies interested in re-domiciliation are from offshore economies such as Bermuda, the Cayman Islands and the British Virgin Islands.
     
         The FSTB, the CR and financial regulators will actively provide appropriate support to applicants to assist with their re-domiciliation. Under normal circumstances, the CR will complete the approval process within two weeks after an applicant has submitted all the required documents and information. On the day of issuance of a certificate of re-domiciliation, the applicant becomes a re-domiciled company and is regarded as a Hong Kong-incorporated company from the same date. The re-domiciled company is then required to complete the deregistration procedures at its place of incorporation within 120 days. The re-domiciled company may make an application to the CR to extend the 120-day period subject to any conditions the Registrar of Companies considers appropriate.
     
         The CR has set up a thematic section on its website, containing the Guide on Company Re-domiciliation, application form and frequently asked questions. The FSTB, in conjunction with the CR and the Inland Revenue Department, has proactively reached out to professional organisations and chambers of commerce, and organised briefings to introduce the content, application details and taxation arrangements of the company re-domiciliation regime. We will continue to work with Invest Hong Kong, the Economic and Trade Offices and the Hong Kong Exchanges and Clearing Limited to conduct external publicity and promotion with a view to attracting major Hong Kong-listed companies and other companies registered outside Hong Kong to make good use of the company re-domiciliation regime, and to maximising the regime’s benefits of attracting more companies, capital and talents to Hong Kong, thereby contributing to the development of the local economy. The publicity work is currently undertaken by the FSTB and the relevant departments respectively with their existing staff establishment.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: ICAC to complement national anti-graft policy and scale new heights following fruitful golden jubilee year

    Source: Hong Kong Government special administrative region

    The following press release is issued on behalf of the Independent Commission Against Corruption:

    Following a fruitful year that marked its golden jubilee, the Independent Commission Against Corruption (ICAC) is set to complement the country’s development and anti-graft policy, continue to combat corruption at full throttle and uphold Hong Kong’s integrity and rule of law to achieve greater success in the next 50 years, according to the 2024 ICAC Annual Report issued today (July 16).

    MIL OSI Asia Pacific News –

  • US launches probe into Brazil’s trade practices, digital payment services

    Source: Government of India

    Source: Government of India (4)

    U.S. Trade Representative Jamieson Greer said on Tuesday he had launched an investigation into Brazil’s “unfair” trading practices, a week after President Donald Trump threatened a 50% tariff on imports from Latin America’s largest economy.

    Trump’s trade war, launched since starting his second term in January, sets tariffs on nearly all U.S. trading partners, aiming to reorder the global economy and end decades of what he calls discrimination against the United States.

    The USTR investigation, announced last week by Trump, will decide if Brazil’s treatment of digital trade and preferential tariffs, among others, is “unreasonable or discriminatory and burdens or restrict” U.S. commerce, Greer said.

    “At President Trump’s direction, I am launching a Section 301 investigation into Brazil’s attacks,” he added in a statement.

    Among victims of such attacks he cited U.S. social media and other companies, as well as workers, farmers, and technology innovators he described as harmed by Brazil’s “unfair trading practices”.

    Following extensive consultations, Greer added, “I have determined that Brazil’s tariff and non-tariff barriers merit a thorough investigation, and potentially, responsive action.”

    Trump justified his 50% tariff from August 1, well above the rate of 10% initially proposed, with a demand for an end to the trial of former President Jair Bolsonaro for allegedly plotting a coup.

    The high tariff for Brazil surprised many trade experts since its U.S. goods imports exceed its exports, and because Trump linked the rate so clearly to Bolsonaro’s trial.

    Brazil offered no immediate reaction to news of the U.S. investigation. On Monday, Vice President Geraldo Alckmin said it had yet to receive a response from Washington to an offer it made in trade talks two months ago.

    During his first term, Trump used Section 301 of the Trade Act of 1974 to justify a spate of tariffs against China. It was also used to investigate other countries for digital services taxes on U.S. tech firms.

    In a statement, USTR said Brazil disadvantaged U.S. firms by setting lower tariffs on exports of other trading partners and accused it of failing to battle corruption.

    It added that Brazil also charged substantially higher tariffs on U.S. ethanol exports, and “appears to be failing” to enforce laws against illegal deforestation, which it said harmed the competitiveness of U.S. timber producers.

    (Reuters)

  • Over 2.34 lakh perform Amarnath Yatra, another batch of pilgrims leaves for Kashmir

    Source: Government of India

    Source: Government of India (4)

    Another batch of 6,064 pilgrims departed from Jammu on Wednesday to undertake the ongoing Amarnath Yatra, which has already seen over 2.34 lakh devotees perform darshan at the holy cave shrine in the past 13 days.

    According to officials, the 2025 Amarnath Yatra, which began on July 3, continues smoothly with strong participation. “Another batch of 6,064 yatris left Bhagwati Nagar Yatri Niwas in Jammu today in two escorted convoys headed for the Valley,” an official said.

    The first convoy, comprising 95 vehicles and carrying 2,471 pilgrims, departed at 3:30 a.m. for the Baltal base camp. The second convoy of 139 vehicles, with 3,593 pilgrims on board, left at 4:07 a.m. for the Nunwan (Pahalgam) base camp.

    The Meteorological Department has forecast widespread light to moderate rainfall across Jammu & Kashmir over the next 24 hours.

    Security arrangements have been significantly intensified this year following Pahalgam terror attack.

    This year’s Yatra spans 38 days, concluding on August 9, which coincides with Shravan Purnima and Raksha Bandhan.

    (IANS)

  • 1.4 lakh new PM Jan Dhan Yojana accounts opened since July 1: Finance ministry

    Source: Government of India

    Source: Government of India (4)

    Nearly 1.4 lakh new accounts under the Pradhan Mantri Jan Dhan Yojana (PMJDY) have been opened across the country since July 1, the Department of Financial Services (DFS) said on Tuesday. More than 5.4 lakh fresh enrollments under the three Jan Suraksha Schemes have also been recorded during this period.

    The DFS has rolled out a three-month nationwide campaign, which began on July 1 and will run till September 30, to expand the reach of its flagship financial inclusion schemes — PMJDY, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY). The campaign aims to cover all Gram Panchayats and Urban Local Bodies to ensure that every eligible citizen can access these schemes.

    “The initiative reflects the government’s commitment to last-mile financial empowerment and greater socio-economic inclusion,” the finance ministry said in a statement.

    In the first two weeks of the drive, 43,447 enrolment camps have been organised in various districts to register beneficiaries and promote financial literacy. Progress reports for 31,305 camps have been compiled so far.

    The outreach campaign will cover about 2.7 lakh Gram Panchayats and urban bodies by September-end.

    Additionally, the finance ministry clarified that the government has not issued any order to banks to close inactive PM Jan Dhan Yojana accounts.

    “In connection with reports appearing in the media that the Department of Financial Services (DFS), Ministry of Finance, has asked banks to close inactive PM Jan Dhan Yojana accounts, the DFS has clarified that it has not asked banks to close inactive PM Jan Dhan Yojana accounts,” the finance ministry said.

    So far, over 55.44 crore Jan Dhan accounts have been opened in India, with women holding 56 per cent of them. Deposits in these accounts crossed Rs 2.5 lakh crore as of May 21 this year.

  • Sensex, Nifty open lower amid mixed global cues

    Source: Government of India

    Source: Government of India (4)

    Indian benchmark indices opened on a flat note on Wednesday, reflecting weakness in Asian markets and investor caution ahead of corporate earnings releases and key global trade developments.

    At the start of the trading session, the BSE Sensex opened at 82,534.66, down 36.24 points, while the Nifty 50 at the National Stock Exchange (NSE) slipped 0.80 points to open at 25,196.60.

    In early trade, market breadth remained moderately positive, with 1,271 stocks advancing, 818 declining, and 171 remaining unchanged.

    On the NSE, SBI Life Insurance, Trent, Tech Mahindra, Hero MotoCorp, and Tata Consumer were among the top gainers. Meanwhile, Shriram Finance, Cipla, Hindalco, Reliance Industries, and TCS were notable laggards.

    Market analysts flagged concerns around US President Donald Trump’s recent announcement of 200% tariffs on pharmaceuticals, expected to be implemented this month, much sooner than his earlier indication of a 12–18 month timeline. Additionally, the threat of secondary tariffs up to 100% on countries engaging in trade with Russia, particularly those importing crude oil, is creating unease among investors. The deadline for these potential sanctions is September 2.

    “India is awaiting clarity on a US tariff deal. Trump’s abrupt announcement regarding pharma tariffs and the looming deadline for secondary sanctions on Russian oil imports are creating uncertainty. Disengaging from a strategic partner like Russia is not a viable option for India, which adds to investor anxiety,” said Ajay Bagga, Market and Banking Expert.

    Investors are also closely monitoring corporate margin pressures, global demand outlooks, and forward guidance from companies as earnings season progresses.

    Akshay Chinchalkar, Head of Research at Axis Securities, noted: “The Nifty gained 113 points to close at 25,196 yesterday, marking its first rise in five sessions. Technically, a swing low has been confirmed at 25,000. A close above 25,245 today could fuel further optimism. However, for bullish momentum to return convincingly, we need a daily close above 25,340. Support is currently seen between 24,940 and 25,000. While Asian markets remain flat, US index futures are down about 0.2%.”

    Indian benchmark indices had snapped a four-day losing streak on Tuesday, driven by gains in the Auto and Banking & Financial Services (BFSI) sectors. Broader markets outperformed, with the Midcap and Smallcap indices rising 0.8% and 1.0%, respectively. Market breadth was robust, with a healthy 2:1 advance-to-decline ratio, according to SBI Securities.

    (ANI)

     

  • EAM Jaishankar slams terrorism at SCO meet, cites Pahalgam attack as example

    Source: Government of India

    Source: Government of India (4)

    External Affairs Minister Dr. S. Jaishankar on Tuesday stressed the importance of taking an uncompromising stance against terrorism, citing the recent Pahalgam terrorist attack in India, which was condemned by the UN Security Council.

    The Minister was speaking at the Shanghai Cooperation Organisation (SCO) Council of Foreign Ministers Meeting in Tianjin.

    He highlighted three evils – terrorism, separatism and extremism, which often occur together, in his post on X. He said, “Recently, we in India witnessed a graphic example in the terrorist attack in Pahalgam on 22 April 2025. It was deliberately conducted to undermine the tourism economy of Jammu and Kashmir while sowing a religious divide. The UN Security Council, of which some of us are currently members, issued a statement that condemned it in the strongest terms and ‘underlined the need to hold perpetrators, organizers, financiers and sponsors of this reprehensible act of terrorism accountable and bring them to justice’. We have since done exactly that and will continue doing so. It is imperative that the SCO, to remain true to its founding objectives, take an uncompromising position on this challenge.”

    He highlighted India’s commitment to holding perpetrators accountable and bringing them to justice.

    Jaishankar emphasised the need for SCO member states to work together to stabilise the global order, mitigate risks, and address longstanding challenges that threaten collective interests amid rising conflicts, competition, and economic instability.

    “In the last few years, we have seen more conflicts, competition and coercion. Economic instability is also visibly on the rise. The challenge before us is to stabilise the global order, de-risk various dimensions and, through it all, address longstanding challenges that threaten our collective interests,” the EAM posted on X.

    Jaishankar underscored the need for cooperation within the SCO to be based on mutual respect, sovereign equality, and adherence to the territorial integrity and sovereignty of member states. He also mentioned India’s initiatives in areas like startup innovation, traditional medicine, and digital public infrastructure.

    “India has taken several initiatives in the SCO in domains ranging from startup and innovation to traditional medicine and digital public infrastructure. We will continue to positively approach new ideas and proposals that are genuinely for our collective good. It is essential that such cooperation is based on mutual respect, sovereign equality and in accordance with the territorial integrity and sovereignty of member states,” said Jaishankar.

    Jaishankar emphasised the importance of addressing current issues, such as the lack of assured transit within the SCO space, to deepen collaboration and promote economic cooperation. He also highlighted the potential of the International North South Transport Corridor (INSTC) to boost regional connectivity.

    “Deepening collaboration within the SCO naturally requires more trade, investment and exchanges. For that to move to the next level, it is imperative that we address some current issues. One of them is the lack of assured transit within the SCO space. Its absence undermines the seriousness of advocating cooperation in economic areas. Another is to ensure the promotion of the International North South Transport Corridor (INSTC). We are confident that it will continue to gather momentum,” he added.

    Jaishankar stressed the need for the international community, particularly SCO members, to provide development assistance to Afghanistan, while ensuring regional stability and concern for the well-being of the Afghan people.

    “Afghanistan has been long on the SCO agenda. The compulsions of regional stability are buttressed by our longstanding concern for the well-being of the Afghan people. The international community, particularly SCO members, must therefore step up with development assistance. India, for its part, will certainly do so,” added Jaishankar.

    He noted the emergence of effective groupings like the SCO in a multipolar world and emphasised the importance of coming together on a shared agenda to contribute to shaping world affairs.

    “The world is today moving towards greater multipolarity. This is not just in terms of redistribution of national capacities, but also the emergence of effective groupings like SCO. Our ability to contribute to the shaping of world affairs will naturally depend on how well we come together on a shared agenda. That means taking everybody on board,” said Jaishankar.

    EAM Jaishankar held several high-level interactions on the sidelines of the SCO Foreign Ministers’ meeting.

    He met his Russian counterpart, Sergey Lavrov, on the sidelines of the Shanghai Cooperation Organisation (SCO) Foreign Ministers’ Meeting on Tuesday.

    In a post on X, Russia’s Foreign Ministry shared, “Russia’s Foreign Minister Sergey Lavrov and Minister of External Affairs of India @DrSJaishankar hold a meeting on the sidelines of the #SCO Council of Foreign Ministers meeting.”

    He also met Iranian Foreign Minister Seyed Abbas Araghchi on Tuesday on the sidelines of the Shanghai Cooperation Organisation (SCO) Foreign Ministers’ meeting in Tianjin, China.

    Jaishankar shared the update on X. He wrote, “Good to catch up with FM @araghchi of Iran, this time on the sidelines of the SCO Foreign Ministers Meeting in Tianjin.”

    Jaishankar is on an official visit to China to attend the SCO Foreign Ministers’ Meeting. He arrived in Beijing after concluding his trip to Singapore. This is also his first visit to China since the Galwan Valley clash in 2020, which severely strained ties between the two countries.

    Earlier in the day, Jaishankar, along with other SCO foreign ministers, met Chinese President Xi Jinping.

    His visit comes shortly after recent visits to China by Defence Minister Rajnath Singh and National Security Advisor (NSA) Ajit Doval, both of whom attended SCO-related engagements in June.

    Chinese Foreign Minister Wang Yi is also expected to visit India next month to meet NSA Ajit Doval. The meeting will be part of the Special Representatives (SR) dialogue mechanism, aimed at resolving the long-standing boundary dispute between the two countries. (ANI)

  • MIL-OSI Asia-Pac: Red flag lowered at Silver Mine Bay Beach

    Source: Hong Kong Government special administrative region

    Attention TV/radio announcers:

    Please broadcast the following as soon as possible and repeat it at regular intervals:

         Here is an item of interest to swimmers.

         The Leisure and Cultural Services Department announced today (July 16) that, since the water of Silver Mine Bay Beach in Islands District is now suitable for swimming, the red flag has been lowered.

         The red flag was hoisted at the beach earlier after a red tide was found.
     

    MIL OSI Asia Pacific News –

  • India reiterates call for accountability for crimes against UN peacekeepers

    Source: Government of India

    Source: Government of India (4)

    India on Tuesday co-chaired a high-level meeting at the United Nations Headquarters in New York, reaffirming its push for justice for peacekeepers facing violence in conflict zones.

    Addressing the meeting of the Group of Friends for Accountability for Crimes Against Peacekeepers, Parvathaneni Harish, India’s Permanent Representative to the UN, underlined the need for stronger protection mechanisms and swift action against perpetrators targeting UN personnel.

    “Glad to be part of the Group of Friends for Accountability of Crimes against Peacekeepers that met today to take forward the landmark Security Council Resolution 2589 (2021) that was championed by India. We remain committed to the pursuit of justice for peacekeepers,” Harish said in a post on X.

    Harish stressed that UN peacekeepers continue to work in dangerous environments, yet crimes against them often go unpunished. “This lack of accountability severely undermines international peace efforts by giving assailants more confidence,” he said.

    Calling accountability a “strategic necessity”, Harish said, “Ensuring responsibility for crimes against UN personnel is essential to the integrity and effectiveness of international peacekeeping efforts. Justice directly improves peacekeepers’ safety, allowing them to carry out their missions. It is our collective duty to uphold this commitment.”

    The Group of Friends for Accountability for Crimes Against Peacekeepers was launched in December 2022 during India’s presidency of the UN Security Council, building on Resolution 2589. According to UN data, more than 1,000 peacekeepers have been killed in hostile acts since 1948.

    At the meeting, member states reiterated the need to tackle impunity for attacks on peacekeepers, stressing that accountability underpins the credibility and future of UN peace operations worldwide.

    India, one of the largest troop-contributing countries to UN missions, has deployed over 300,000 peacekeepers in the last seven decades. So far, 182 Indian peacekeepers have lost their lives while serving under the UN flag.

    IANS

  • Flag football to make primetime Olympic debut at LA28

    Source: Government of India

    Source: Government of India (4)

    Flag football will take center stage during the 2028 Los Angeles Olympics, after organizers confirmed the sport’s medal matches will be held in primetime slots in its first-ever Olympic appearance.

    The International Federation of American Football (IFAF), in partnership with the National Football League (NFL), announced on Monday that the men’s and women’s medal games are scheduled for Friday evening, July 21, and Saturday afternoon, July 22, at BMO Stadium near downtown Los Angeles.

    The announcement comes as senior IFAF and NFL delegations visit Los Angeles for the first official meetings with Games organizers, marking exactly three years to the day before the LA28 Opening Ceremony.

    “Flag football will definitely be a hot ticket at the Games,” IFAF President Pierre Trochet told Reuters on Monday.

    “We’re going to be at a great stadium right in the heart of the city and we’re going to have fantastic players on the field with NFL players available.”

    Flag football is a non-contact variation of American football in which players wear flags attached to their waists. Instead of tackling, defensive players must remove a flag from the ball carrier to end a play. The sport is played on a smaller field with fewer players per side.

    The inclusion of flag football in LA28 follows a vote by NFL owners allowing NFL players to participate in the Olympic competition.

    Trochet said the primetime scheduling was a clear statement of a shared ambition to ensure flag football contributes a “defining element” of LA28’s success.

    Organizers hope to capture the excitement of “Friday Night Lights,” a cherished American tradition, and generate iconic moments for the sport’s Olympic launch.

    “We could not dream of a better setup to start our debut in the Olympic movement and Olympic journey,” he said.

    The IFAF delegation, including managing director Andy Fuller and senior NFL executives, is set to tour Exposition Park and other venues over a three-day visit.

    The group will also meet with key LA28 organizing committee members and attend the launch of a new NFL flag football brand campaign, which features Olympic gymnastics champion Jordan Chiles and flag football athletes from Australia and the U.S.

    (Reuters)

  • MIL-OSI Asia-Pac: LCQ18: Employment support services

    Source: Hong Kong Government special administrative region

         Following is a question by Dr the Hon Ngan Man-yu and a written reply by the Secretary for Labour and Welfare, Mr Chris Sun, in the Legislative Council today (July 16):
     
    Question:
     
         The Employment Information and Promotion Programme Office (EIPPO) of the Labour Department (LD) is responsible for promoting employment services, assisting job-seekers in finding jobs through the provision of employment information, and helping employers recruit suitable staff. In this connection, will the Government inform this Council:

    (1) of the details of EIPPO’s existing staffing establishment (including the number of posts, rank distribution and the ratio of full-time to contract staff); between 2022 and 2024, (i) the operating expenses of EIPPO, (ii) the number of job fairs organised, and (iii) the number of job vacancies processed, together with a breakdown by year and industry type (e.g. retail, construction and service);

    (2) of the number of successful placements referred by the EIPPO (“successful job matching”) between 2022 and 2024 and its percentage in the total number of job vacancies processed by the EIPPO, together with a breakdown by the age, sex, academic qualification and group (e.g. ethnic minorities or persons with disabilities) of job seekers, and the industry of the placement; whether it has laid down clear definitions and criteria for successful job matching (e.g. staying in employment for three months or more);

    (3) whether the LD has formulated performance indicators for the EIPPO’s work, such as participation rates at job fairs, vacancy filling rates or job seeker satisfaction levels; if so, of the details (including the key indicators and their attainment between 2022 and 2024); if not, the reasons for that;

    (4) whether it has plans to comprehensively review the effectiveness of the EIPPO’s services, so as to enhance the employment support measures for vulnerable workers (including low-skilled workers, women, ethnic minorities and middle-aged persons); if so, of the details (including the timetable, scope and objectives of the review); if not, the reasons for that, and whether it will conduct the relevant review;

    (5) whether it will consider strengthening co-operation with enterprises, social organisations and non-governmental organisations to establish an “employment support platform for vulnerable workers”, and encouraging enterprises to provide internships and long-term employment opportunities suitable for vulnerable workers; if so, of the details (including the content of the plan, the implementation timetable, the measures to provide subsidies or incentives to enterprises, as well as the expected effectiveness); if not, the reasons for that, and whether there are other alternative measures; and

    (6) whether it will, by drawing reference from LD’s practice of setting up industry-specific job centres (e.g. the Recruitment Centre for the Catering Industry, the Recruitment Centre for the Retail Industry and the Construction Industry Recruitment Centre), convert job centres in some districts into one-stop employment support centres specifically targeting women, the elderly and ethnic minorities, with a view to enhancing the effectiveness of such centres?

    Reply:

    President,

         The Labour Department (LD) provides diversified and free employment services to job-seekers to encourage and assist them in entering the labour market. The Employment Information and Promotion Programme Office (EIPPO) under the Employment Information and Promotion Division of the LD is responsible for holding large-scale job fairs and organising publicity projects to promote the LD’s employment services and related information. The EIPPO also actively liaises with employers to canvass job vacancies from different industries with a view to assisting employers in recruiting employees and expediting the dissemination of employment information.

         The reply to the Member’s question is as follows:

    (1) The breakdown of the EIPPO’s staff establishment by grade from 2022-23 to 2024-25 is at Annex 1. The EIPPO’s annual operational expenses (excluding staff cost) during the same period was $5.02 million, $9.07 million and $8.94 million respectively. Due to the COVID-19 pandemic, some activities could not be organised in 2022, resulting in lower operational expenses for the year.

         From 2022 to 2024, the EIPPO organised 13, 17 and 18 large-scale job fairs each year, offering 23 594, 36 870 and 32 900 job vacancies respectively for job-seekers to submit job applications to employers on the spot. Due to the COVID-19 pandemic, the number of large-scale job fairs organised and job vacancies recorded in 2022 were lower. A breakdown of the relevant job vacancies by industry is at Annex 2. 

    (2) The LD organises large-scale job fairs to provide a convenient platform for employers and job seekers to meet face-to-face. In addition to applying for jobs and attending interviews on the spot, job seekers can learn directly from employers about trade development, company culture, job requirements, etc. At the same time, they can make use of the LD’s consultation services during job fairs and obtain information on various employment programmes.

         From 2022 to 2024, about 6 600, 26 500 and 32 600 job seekers attended the large-scale job fairs organised by the EIPPO each year. Due to the COVID-19 pandemic, the number of job seekers visiting the large-scale job fairs was lower in 2022. Based on the questionnaire responses collected by the LD from employers after the job fairs, from 2022 to 2024, approximately 1 300, 1 900 and 2 000 job seekers were respectively employed within one month after the job fairs each year. The LD does not maintain breakdowns of the job fair visitors or individuals employed after the job fairs.

    (3) and (4) The LD from time to time organises large-scale job fairs across the territory and stages district-based thematic job fairs at its job centres, including inclusive job fairs for ethnic minorities, and part-time or thematic job fairs targeting elderly and middle-aged job seekers (including women).

         Overall, employers, job seekers and relevant stakeholders have strong demand for job fairs. Participating employers and job seekers respond very favourably to the events. As the number of job vacancies, success rate of recruitment, etc., may be affected by factors such as the economy, labour market situation and personal circumstances of job seekers, it is inappropriate to set Key Performance Indicators for the EIPPO or the large-scale job fairs it organises.

         The LD will continue to closely monitor changes in the economy and employment market, conduct timely review on the effectiveness of various employment services, and implement appropriate enhancement measures. 

    (5) and (6) The LD’s ten job centres provide integrated employment services to job seekers. Apart from job referral service, job seekers can also use the facilities of the job centres, including vacancy search terminals, computers with word processing function for preparing resume, employment information corners, etc. Employment officers of the centres may also meet with job seekers to provide them with personalised employment advisory service, and based on their needs and preferences, recommend them to join suitable employment programmes or to enroll in training/retraining courses so as to enhance their employability and employment opportunities. All job centres also provide dedicated services for elderly and middle-aged persons (including women), and ethnic minorities, such as priority employment services for those aged 50 or above, and arrangement of interpretation services for ethnic minority job seekers. 

         Additionally, the LD implements various employment programmes including Youth Employment and Training Programme, Re-employment Allowance Pilot Scheme, Employment Programme for the Elderly and Middle-aged and Racial Diversity Employment Programme to support and facilitate the employment of young people, elderly and middle-aged persons (including women) as well as ethnic minorities. The LD collaborates with relevant groups, including engaging non-governmental organisations to provide employment support to participants, etc., to jointly implement employment programmes.

         Apart from offering integrated employment services, job centres also collaborate with relevant groups in implementing employment programmes. Proven to be effective, this modus operandi can comprehensively and flexibly meet the needs of different groups of job seekers (including women, older persons and ethnic minorities, etc.). As such, the LD currently has no plan to set up other employment support platform, or new employment support centres for specific groups of job seekers. 

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Well done to Course 81

    Source: New South Wales – News

    Today’s 25 graduates from the South Australia Police (SAPOL) Academy all bring something unique to the table, from experience in competitive boxing, and retail management to truck logistics and swim coaching.

    Course 81 members include 13 men and 12 women, who range in age from 19 to 46.

    The new police officers bring diverse skills from a variety of employment backgrounds, including in security, education, hospitality, retail, corrections, the Navy, pharmaceutical and disability sectors, and as a flight attendant, truck driver, gymnastics coach, Department for Child Protection worker and Police Security Officer.

    Some have journeyed from overseas and interstate, including from Switzerland, India, Sydney, Victoria and Tasmania.

    Probationary Constable Bagus has an Indonesian/Australian background and lived in Bali for five years before moving to Adelaide in 2017.

    Prior to joining SAPOL, he worked as a barista and competed in amateur boxing.

    “Competing in boxing helped me to have better situational awareness. In boxing matches, I constantly had to read the opponent’s body language and stay alert,” Bagus said.

    “This translates well to policing, especially for dynamic or unpredictable situations. Competing in boxing also gave me the ability to stay calm and keep composure in high-stress situations.”

    Fellow graduate, and single mother Sarah previously worked in retail, aquaculture, hospitality and truck logistics, and was most recently a lead cook at her local country hospital/aged care facility.

    “I am a single mother to one, and love country life, 4×4 driving, opal mining, bush hiking, but most of all spending quality time with my son riding horses, playing backyard cricket and football,” she said.

    “Being a single parent has taught me to be resilient, adaptable, understanding, patient, kind, forgiving and assertive – all qualities that a police officer requires.”

    Similarly, Lauren has developed impressive time management skills to reach graduation day while also being a mother.

    “Prior to joining SAPOL, I lived for two years in North Carolina, United States, where I was a waterfront director and lifeguard, and then I moved to Finland for a year before coming back to Australia to have my daughter,” she said.

    “Before becoming a police officer, I was a mum to my one-year-old and worked causally in retail and swim coaching.”

    Bradley worked in retail for 7.5 years, managing teams in different departments while also playing cricket, football, golf, and the guitar.

    “I felt like working in a team environment helped me throughout the academy, through interactions with course mates,” he said.

    “The customer-service aspect will be important for how I interact when on the road and dealing with various types of people.”

    Eventually, Bagus would like to work in SAPOL’s Security Response Section (SRS) and later Special Tasks and Rescue (STAR), while Sarah hopes her career will lead to theDog Operations Unit. Lauren has her sights set on working in the Major Crime Investigations Branch or Child and Family Violence Investigation Section, while Bradley aims to work anywhere in Forensic Services.

    All four graduates encouraged anyone interested in a SAPOL career to “take the leap” and prepare early for what is expected.

    Course 81 members will be stationed to metropolitan and regional postings, including Port Augusta, Port Pirie, Mount Gambier, Port Lincoln, Whyalla, and Berri.

    SAPOL is currently recruiting and is keen to hear from people interested in an inspiring career with unmatched experiences and rewards.

    If you’re looking for job security, career progression pathways and a chance to make a real difference in local communities visit Achievemore – Join Us (police.sa.gov.au)

    Sarah, Lauren, Bagus, and Bradley are among 25 new police officers to graduate today from the South Australia Police Academy.

    MIL OSI News –

  • Trump sets 19% tariff on Indonesia goods in latest deal, EU readies retaliation

    Source: Government of India

    Source: Government of India (4)

    President Donald Trump on Tuesday said the U.S. would impose a 19% tariff on goods from Indonesia under a new agreement with the Southeast Asian country and more deals were coming, while offering fresh details on planned duties on pharmaceuticals.

    Trump announced the pact with Indonesia, a relatively minor U.S. trading partner, as he continued to press for what he views as better terms with trading partners and ways to shrink a huge U.S. trade deficit. Letters setting tariff rates for dozens of smaller countries were also coming soon, he said on Tuesday.

    The deal with Indonesia is among the handful struck so far by the Trump administration ahead of an August 1 deadline when duties on most U.S. imports are due to rise again. The accord came as the top U.S. trading partner – the European Union – readied retaliatory measures should talks with Washington fail.

    As that deadline approached, negotiations were under way with other nations eager to avoid more U.S. levies beyond a baseline 10% on most goods that has been in place since April.

    Trump’s roll-out of the policies has often been chaotic. His moves have upended decades of negotiated reductions in global trade barriers, unsettling international financial markets and threatening a new wave of inflation.

    Based on Trump tariff announcements through Sunday, Yale Budget Lab estimated the U.S. effective average tariff rates will rise to 20.6% from between 2% and 3% before Trump’s return to the White House in January. Consumption shifts would bring the rate down to 19.7%, but it’s still the highest since 1933.

    Trump outlined an Indonesia deal similar to a preliminary pact struck recently with Vietnam, with a flat tariff on exports to the U.S. roughly double the current 10% and no levies on U.S. exports going there. It also included a penalty rate for so-called transhipments of goods from China via Indonesia and a commitment to buy some U.S. goods.

    “They are going to pay 19% and we are going to pay nothing … we will have full access into Indonesia, and we have a couple of those deals that are going to be announced,” Trump said outside the Oval Office. Trump later said on his Truth Social platform that Indonesia had agreed to buy $15 billion of U.S. energy products, $4.5 billion of American farm products and 50 Boeing BA.N jets, though no time frame was specified.

    He told reporters the deal with Vietnam was “pretty well set” but said it was not necessary to release details.

    TRUMP: INDIA TALKS MOVING SAME WAY

    Indonesia’s total trade with the U.S. – totalling just under $40 billion in 2024 – does not rank in the top 15, but it has been growing. U.S. exports to Indonesia rose 3.7% last year, while imports from there were up 4.8%, leaving the U.S. with a goods trade deficit of nearly $18 billion.

    The top U.S. import categories from Indonesia, according to U.S. Census Bureau data from the International Trade Centre’s TradeMap tool, last year were palm oil, electronics equipment including data routers and switches, footwear, car tires, natural rubber and frozen shrimp.

    Susiwijono Moegiarso, a senior official with Indonesia’s Coordinating Ministry for Economic Affairs, told Reuters in a text message: “We are preparing a joint statement between U.S. and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon.”

    Trump had threatened the country with a 32% tariff rate starting August 1 in a letter sent to its president last week. He sent similar letters to about two dozen trading partners this month, including Canada, Japan and Brazil, laying out tariff rates ranging from 20% to 50%, plus a 50% tariff on copper.

    Speaking in Pittsburgh on Tuesday, Trump said he favored blanket tariffs over complicated negotiations, but his Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick were keen to land more trade agreements.

    Upon his arrival back in Washington, Trump told reporters that letters would be going out soon for many smaller countries, suggesting they would face a tariff of “a little over 10%.”

    He said his administration would also announce tariffs on pharmaceuticals imported into the United States, probably at the end of the month, starting with what he called a low tariff rate to give companies time to move manufacturing to the U.S. before imposing a “very high tariff” in a year or so.

    The August 1 deadline gives targeted countries time to negotiate about lower tariff rates. Some economists have also noted Trump’s pattern of backing off his tariff threats.

    Since launching his tariff policy, Trump has clinched only a few “framework” agreements, falling short of earlier promises to land “90 deals in 90 days.”

    So far, such deals have been reached with the United Kingdom and Vietnam, and an interim deal has been struck with China to forestall the steepest of Trump’s tariffs while negotiations continue between Washington and Beijing.

    Trump said talks with India were moving “along that same line,” saying the agreement would give U.S. firms access to the large Indian market.

    EU READIES RETALIATION

    The breakthrough with Indonesia came as the European Commission, which oversees trade for the EU, prepared to target 72 billion euros ($84.1 billion) worth of U.S. goods – from Boeing BA.N aircraft and bourbon whiskey to cars – for possible tariffs if trade talks with Washington fail.

    Trump has threatened a 30% tariff on imports from the EU from August 1, a level European officials say is unacceptable and would end normal trade between two of the world’s largest markets.

    The list, sent to EU member states and seen by Reuters on Tuesday, pre-dated Trump’s move over the weekend to ramp up pressure on the 27-nation bloc and responded instead to U.S. duties on cars and car parts and a 10% baseline tariff.

    The package also covers chemicals, medical devices, electrical and precision equipment as well as agriculture and food products – a range of fruits and vegetables, along with wine, beer and spirits – valued at 6.35 billion euros.

    (Reuters)

  • India offers help to restore Satyajit Ray’s ancestral home in Bangladesh

    Source: Government of India

    Source: Government of India (4)

    The Indian government has expressed regret over the reported demolition of the ancestral house of iconic filmmaker and writer Satyajit Ray in Mymensingh, Bangladesh, and has offered its support for its restoration.

    In a statement issued on Tuesday, the Ministry of External Affairs (MEA) said, “We note with profound regret that the ancestral property of noted filmmaker and litterateur Satyajit Ray in Mymensingh, Bangladesh, belonging to his grandfather and eminent litterateur, Upendra Kishor Ray Chowdhury, is being demolished.”

    The ministry confirmed India’s willingness to work with Bangladesh to repair and reconstruct the site, which is presently owned by the Bangladesh government and reportedly in a state of disrepair.

    Highlighting its cultural significance, India urged Bangladesh to reconsider any plans to demolish the building. “Given the building’s landmark status, symbolising the Bangla cultural renaissance, it would be preferable to reconsider the demolition and examine options for its repair and reconstruction as a museum of literature and a symbol of the shared culture of India and Bangladesh,” the MEA added.

    Satyajit Ray, born in Kolkata on May 2, 1921, is regarded as one of India’s most influential filmmakers. His acclaimed works include The Apu Trilogy, Pather Panchali, Jalsaghar, Charulata, Goopy Gyne Bagha Byne, and Shatranj Ke Khiladi. Ray was also an accomplished screenwriter, essayist, illustrator, magazine editor, and composer.

    Throughout his illustrious career, he received numerous accolades, including 32 Indian National Film Awards, international honours at major film festivals, and an Academy Honorary Award in 1992. That same year, he was awarded India’s highest civilian honour, the Bharat Ratna.

    (ANI)

  • ‘Severance,’ ‘The Penguin’ lead nominations for TV’s Emmy awards

    Source: Government of India

    Source: Government of India (4)

    Psychological thriller “Severance” from Apple TV+ and HBO’s crime drama “The Penguin” stacked up the most nominations for Emmy Awards on Tuesday, outpacing “The Studio” and “The White Lotus” in the contest for television’s highest honors.

    “Severance” received a leading 27 nominations and was nominated for the top prize of best drama alongside Star Wars series “Andor,” “The Pitt,” “The White Lotus” and others.

    “The Penguin,” set in the DC Comics universe and starring Colin Farrell, earned 24 nominations and will compete for best limited series against Netflix NFLX.O hit “Adolescence,” among others.

    Hollywood satire “The Studio,” an Apple TV+ show featuring Seth Rogen as a nervous film executive, and HBO’s “The White Lotus,” about murder and misdeeds at a luxury resort in Thailand, received 23 each.

    “What the heck?!! We never thought this would happen,” Rogen said in a statement.

    Comedy nominees included defending champion “Hacks,” previous winner “The Bear,” “Nobody Wants This” and “Abbott Elementary.”

    The 23 nominations for “The Studio” tied the record for a comedy in a single season, set last year by Chicago restaurant tale “The Bear.”

    Winners of the Emmys will be announced at a red-carpet ceremony held in Los Angeles and broadcast live on CBS PARA.O on September 14. Comedian Nate Bargatze will host.

    The television industry is undergoing a contraction as media companies curtail the sky-high spending they shelled out to compete in the shift to streaming platforms led by Netflix.

    Longtime Emmy favorite HBO and the HBO Max streaming service topped all programmers with 142 nominations, a record for the network.

    Walt Disney DIS.N collected 137 nominations, including six for ABC’s “Abbott Elementary,” one of the few broadcast shows in the Emmy mix. “Andor,” on Disney+, received 14.

    Netflix garnered 120 nods and Apple scored 81, its highest total since launching its streaming service in 2019.

    “Severance” tells the story of office workers who undergo a procedure to make them forget their home life at work, and vice versa.

    “It’s distinctive in every way – in terms of its storytelling, in terms of style, in terms of its directing, its tone,” said Matt Cherniss, head of programming at Apple TV+.

    Star Adam Scott, a best actor nominee, said the cast had been unsure of how viewers would respond.

    “The fact that it’s resonated at all has been just such an incredible feeling,” Scott said. “We thought it was something that might be too weird.”

    WYLE, FORD IN THE RUNNING

    Noah Wyle received his first Emmy nomination since 1999 for his role as an emergency room doctor on “The Pitt.” Wyle was nominated five times for “ER” but never won.

    “I’m humbled and grateful,” Wyle said of the recognition for “The Pitt,” which received 13 total nominations.

    Harrison Ford, 83, earned his first Emmy nod, for playing a grumpy therapist on “Shrinking.”

    Ron Howard, the former “Happy Days” star turned Oscar-winning director, also landed his first acting nomination, a guest actor nod for playing himself on “The Studio.”

    “Who says nice guys finish last?!” Howard wrote on Instagram.

    He will compete with fellow director Martin Scorsese, another guest star on “The Studio.”

    Other notable acting nominees included Farrell and Cristin Milioti for “The Penguin,” “The Bear” actors Jeremy Allen White and Ayo Edebiri, Kathy Bates for “Matlock,” “Hacks” stars Jean Smart and Hannah Einbinder, and Pedro Pascal and Bella Ramsey for “The Last of Us.”

    Eight “White Lotus” actors were recognized.

    “This is a bunch of cherries on the icing on the cake that was the gift of playing such a tortured and lonely human,” said Jason Isaacs, who portrayed a suicidal father facing financial ruin on the show.

    Beyonce also made the Emmys list. Her halftime performance during a National Football League game on Netflix was nominated for best live variety special.

    Missing from the field was Netflix’s popular Korean drama, “Squid Game,” while the final season of previous drama winner “The Handmaid’s Tale” received just one nod.

    Winners will be chosen by the roughly 26,000 performers, directors, producers and other members of the Television Academy.

    (Reuters)

  • US opens probe into University of Michigan’s foreign funding

    Source: Government of India

    Source: Government of India (4)

    The U.S. Education Department said on Tuesday it opened a foreign funding investigation into the University of Michigan while alleging it found “inaccurate and incomplete disclosures” in a review of the university’s foreign reports.

    As part of the investigation, the department asked the university to share, within 30 days, tax records related to foreign funding, a list of foreign gifts, grants, and contracts with any foreign source, and other documents, the department said in a statement and in a letter to the university.

    The University of Michigan will cooperate fully with federal investigators and it takes its responsibility to comply with the law seriously, it said in a statement.

    “We strongly condemn any actions that seek to cause harm, threaten national security or undermine the university’s critical public mission,” the statement said.

    The Education Department said the university’s research laboratories were “vulnerable to sabotage,” citing charges brought by the U.S. Justice Department against two Chinese nationals allegedly involving a University of Michigan lab.

    In June, U.S. federal prosecutors accused two Chinese nationals of smuggling into the U.S. a dangerous biological pathogen that they said had the potential to be used as an agricultural “terrorism weapon”.

    Zunyong Liu, 34, a Chinese researcher, is alleged to have brought the pathogen into the U.S. while visiting his girlfriend, Yunqing Jian, 33, in July 2024, according to an FBI complaint.

    The complaint said he admitted to smuggling in a fungus so he could conduct research on it at a University of Michigan laboratory where his girlfriend worked. However, experts have raised doubt about the FBI’s claim that the crop fungus smuggled was a threat.

    In its statement, the Education Department said the university has received $375 million in foreign funding since 2020 and was late in reporting $86 million of that amount. U.S. law requires universities to report donations from foreign sources exceeding $250,000 in a year.

    President Donald Trump’s administration has launched a widely condemned crackdown against top U.S. universities over a range of issues including pro-Palestinian campus protests against Israel’s war in Gaza, transgender rights, climate initiatives and diversity, equity and inclusion programs.

    Similar foreign funding probes were opened earlier at Harvard University, the University of Pennsylvania and the University of California, Berkeley.

    -Reuters

  • MIL-OSI Banking: Money Market Operations as on July 15, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 6,06,180.02 5.32 3.00-6.25
         I. Call Money 16,248.43 5.38 4.75-5.50
         II. Triparty Repo 3,95,077.45 5.30 5.15-5.36
         III. Market Repo 1,92,544.59 5.37 3.00-5.65
         IV. Repo in Corporate Bond 2,309.55 5.49 5.46-6.25
    B. Term Segment      
         I. Notice Money** 169.50 5.31 5.05-5.45
         II. Term Money@@ 627.00 – 5.25-5.70
         III. Triparty Repo 1,465.00 5.32 5.30-5.40
         IV. Market Repo 340.12 5.21 3.25-5.50
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Tue, 15/07/2025 3 Fri, 18/07/2025 57,450.00 5.49
    3. MSF# Tue, 15/07/2025 1 Wed, 16/07/2025 869.00 5.75
    4. SDFΔ# Tue, 15/07/2025 1 Wed, 16/07/2025 97,432.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,54,013.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Fri, 11/07/2025 7 Fri, 18/07/2025 1,51,633.00 5.49
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       5,880.78  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -1,45,752.22  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -2,99,765.22  
    G. Cash Reserves Position of Scheduled Commercial Banks          
         (i) Cash balances with RBI as on July 15, 2025 9,94,173.57  
         (ii) Average daily cash reserve requirement for the fortnight ending July 25, 2025 9,63,288.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ July 15, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on June 27, 2025 5,79,904.00  

    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).

    – Not Applicable / No Transaction.

    ** Relates to uncollateralized transactions of 2 to 14 days tenor.

    @@ Relates to uncollateralized transactions of 15 days to one year tenor.

    $ Includes refinance facilities extended by RBI.

    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/720

    MIL OSI Global Banks –

  • MIL-OSI Asia-Pac: LCQ9: Pilot Programme on Smart Recycling Systems

    Source: Hong Kong Government special administrative region

         Following is a question by Dr the Hon Lo Wai-kwok and a written reply by the Secretary for Environment and Ecology, Mr Tse Chin-wan, in the Legislative Council today (July 16):
     
    Question:
     
         The Environmental Protection Department (EPD) has extended the Pilot Programme on Smart Recycling Systems (the Pilot Programme) starting from mid-2022 and gradually installed smart recycling bins and gift redemption units in some Recycling Stations and Recycling Stores since the end of that year. Starting from March 2023, smart recycling bins have also been progressively set up in housing estates, villages, shopping malls, universities, government venues, etc. The number of application points under the Pilot Programme has been increased from four locations in the initial phase to more than 800 locations at present. In addition, smart recycling bins support 24-hour operation and are equipped with sensors to enable recyclables collection service contractors (the contractors) to monitor the overflowing of recycling bins. In this connection, will the Government inform this Council:
     
    (1) given that some members of the public have relayed that they find from time to time that the smart recycling bins are overflowing, and despite their complaints, the follow-up actions taken by the authorities concerned have been slow, and they are often forced to take the recyclable items back home and thus reducing their incentives for recycling, of the respective numbers of such complaints received, number of cases with follow-up actions completed and average time taken to handle a complaint by the EPD in each month since March 2023;
     
    (2) whether the authorities have put in place a regular monitoring mechanism to assess and review the contractors’ handling of complaints about the overflowing of smart recycling bins as well as their general service performance, and require the contractors to make improvements within a specified period of time; if so, of the details; if not, the reasons for that; and
     
    (3) with the gradual increase in the number of smart recycling bins application points under the Pilot Programme, whether the authorities will allocate additional resources at the same time to step up inspections and random checks, thereby ensuring that the smart recycling systems can serve their functions; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         The Environmental Protection Department (EPD) launched the Pilot Programme on Smart Recycling Systems (the Pilot Programme) in the fourth quarter of 2020, to test different smart recycling devices in phases, including smart recycling bins, smart balances and gift redemption units. As at end-June 2025, in addition to installing smart balances at all GREEN@COMMUNITY recycling facilities, the Pilot Programme has installed 159 sets of smart recycling bins at different locations across Hong Kong for testing, including GREEN@COMMUNITY facilities, public rental housing estates, private housing estates, villages, shopping malls, universities and government venues, for providing self-service recycling.
     
         The reply to the question raised by Dr the Hon Lo Wai-kwok is as follows:
     
    (1) The property management companies or cleaning companies of the premises concerned are responsible for the clearance of the smart recycling bins set up at respective locations, as well as arranging recyclers for collection and recycling of recyclables.
     
    Smart recycling bins are equipped with weight sensors and fill level sensors, featuring a dual alert mechanism. When the collected recyclables approach 80 per cent of the bin capacity limit, the system will automatically send a message to the relevant site staff of the venue. When a bin reaches its full capacity, the system will remind the property management company and/or cleaning contractor again for immediate action. Property management companies usually clear the collected recyclables regularly or shortly after receiving alert messages. The EPD also monitors the situation through the big data platform for timely follow-up actions. Data shows that the time which smart recycling bins was temporarily suspended due to overfilled bins accounts for about 7 per cent of the overall operating time of smart recycling bins. In addition, most premises with smart recycling bins are equipped with conventional recycling bins at the same time, which allow the public to place recyclables in these bins when the smart recycling bins are full.
     
    From March 2023 to end-June 2025, the number of complaints received by the EPD regarding overfilled smart recycling bins are provided in the table below. Upon receipt of each complaint, the EPD would follow up immediately and request the concerned property management company or cleaning contractor to empty the smart recycling bin and resume its functions as soon as possible. The EPD will continue to monitor the operation of smart recycling bins at all locations, and liaise with the concerned property management companies as needed for timely adjustments to the arrangements for clearance of recyclables.
     

    Month No. of complaint cases on overfilled smart recycling bins
    2023 2024  2025
    January N/A 7 3
    February 1 1
    March 0 0 0
    April 1 2 2
    May 0 0 4
    June 0 1 2
    July 0 3 N/A
    August 4 1
    September 2 4
    October 3 2
    November 2 1
    December 3 0
    Total 15 22 12

    (2) As mentioned above, smart recycling bins are equipped with weight sensors and fill level sensors, featuring a dual alert mechanism. When the collected recyclables approach 80 per cent of the bin capacity limit, the system will automatically send a message to the relevant site staff of the venue, who should arrange clearance as soon as possible upon receiving the message. We will review the arrangements for clearance of smart recycling bins and explore ways to further enhance clearance efficiency. In addition, we are arranging to test the addition of a compression function in smart recycling bins to enhance the recycling capacity so as to reduce the frequency of clearance required and further reduce the downtime of the bins due to being full, thereby improving the service quality.
     
    (3) The EPD’s service contracts require the contractors of smart recycling bins to provide operational monitoring data and arrange staff to conduct regular inspections to ensure proper operation of the devices. The EPD will also continue to monitor the usage of smart recycling bins and conduct inspections and spot checks from time to time to ensure that the contractors’ services meet the contract requirements. We will review the contract requirements and strengthen the performance indicators on maintenance services in the new contracts to enhance efficiency. With the increase in the number of application points, the EPD will deploy resources to step up inspections based on the actual situation, so that the entire smart recycling system can operate at its optimal level.
     
         On the other hand, to further enhance the operation and services of smart recycling devices, the EPD is actively preparing for introducing a new feature on displaying the real-time recycling status of smart recycling bins in the GREEN$ mobile app and the Hong Kong Waste Reduction Website, with a view to facilitating the public to plan for their recycling activities. This new feature is expected to be launched by the end of 2025.

    MIL OSI Asia Pacific News –

  • Trump says Zelenskiy should not target Moscow

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump said on Tuesday that Ukrainian President Volodymyr Zelenskiy should not target Moscow and that Russian President Vladimir Putin should agree to a ceasefire deal by a 50-day deadline or sanctions will kick in.

    His comments came after The Financial Times, citing people briefed on discussions, reported on Tuesday that Trump had privately encouraged Ukraine to step up deep strikes on Russia.

    The newspaper said that Trump asked Zelenskiy whether he could strike Moscow if the U.S. provided long-range weapons.

    “No, he shouldn’t target Moscow,” Trump told reporters on the South Lawn of the White House when asked if Zelenskiy should attack the Russian capital.

    Trump on Monday announced a toughened stance against Russia for its three-year-old war in Ukraine, promising a fresh wave of missiles and other weaponry for Ukraine. He gave Moscow 50 days to reach a ceasefire or face sanctions.

    The announcement set off a scramble among European officials to figure out how to make Trump‘s plan work and ensure Ukraine gets the weapons it needs.

    Later on Tuesday, Trump told reporters that some of the Patriot missiles are already on their way to Ukraine.

    “They’re coming in from Germany,” he said.

    Trump said he had not yet spoken to Putin in the wake of his announcement, but said it might not take 50 days to make a deal.

    Asked earlier if he was now on the side of Ukraine, Trump said, “I am on nobody’s side,” and then declared he was on “humanity’s side” because “I want to stop the killing.”

    Trump defended the deadline he set for Russia to agree to a deal and head off tariffs and sanctions on countries that buy oil from Russia.

    He did not say whether any talks were planned to try to work out a deal with Russia.

    “At the end of the 50 days if we don’t have a deal, it’s going to be too bad,” he said.

    (Reuters)

  • AIDS program funding preserved ahead of US Senate vote on Trump cuts

    Source: Government of India

    Source: Government of India (4)

    The U.S. Senate late on Tuesday advanced President Donald Trump’s request to slash billions in spending on foreign aid and public broadcasting previously approved by Congress, the latest test of Trump’s control over his fellow Republicans.

    However, PEPFAR, a global program to fight HIV/AIDS launched in 2003 by then-Republican President George W. Bush, is being exempted after objections from lawmakers in both parties, bringing the size of the package of cuts to $9 billion from $9.4 billion.

    Russell Vought, director of the Office of Management and Budget, told reporters after lunch with Republican senators that Trump could accept a change in the measure to exempt PEPFAR.

    “There is a substitute amendment that does not include the PEPFAR rescission and we’re fine with that,” Vought said.

    In initial votes on Tuesday, Republicans narrowly fended off solid Democratic opposition and cleared the bill over two procedural hurdles. Vice President JD Vance was needed to break a 50-50 tie in each of those tallies.

    Further votes were expected this week.

    Congress has until Friday to pass the rescissions package, originally a request to claw back $8.3 billion in foreign aid funding and $1.1 billion for public broadcasting. Otherwise, the request would expire and the White House will be required to adhere to spending plans passed by Congress.

    Three of the Senate’s 53 Republicans voted against moving the legislation closer to passage – Senators Lisa Murkowski of Alaska, Mitch McConnell of Kentucky and Susan Collins of Maine.

    “You don’t need to gut the entire Corporation for Public Broadcasting,” Senator Lisa Murkowski, an Alaska moderate, said in a Senate speech.

    She said the Trump administration also had not provided assurances that battles against diseases such as malaria and polio worldwide would be maintained, along with programs including family planning and pandemic prevention. But most of all, Murkowski said, Congress must assert its role in deciding how federal funds were spent.

    If the Senate passes the bill without the PEPFAR cuts, the measure must go back to the House of Representatives for a vote before it can be sent to the White House for Trump to sign into law. Senate Majority Leader John Thune of South Dakota, a Republican, said he expected the House would act quickly to pass the measure.

    The amounts at stake are extremely small in the context of the sprawling federal budget, which totaled $6.8 trillion in the fiscal year ended September 30. Yet the proposed cuts have raised the hackles of Democrats and a handful of Republicans who saw an attempt to erode Congress’s constitutionally mandated authority over spending.

    They also represent only a tiny portion of all of the funds approved by Congress that the Trump administration has held up as it has pursued sweeping cuts to the federal government, including slashing thousands of jobs.

    As of mid-June, Trump was blocking $425 billion in such funds, according to Democratic lawmakers tracking frozen funding.

    LIFESAVING PROGRAMS

    The foreign aid initiatives in Trump’s request for cuts included lifesaving support for women and children’s health and the fight against HIV/AIDS that have long had strong bipartisan support. PEPFAR is credited with saving 26 million lives.

    The package also cuts funds supporting public broadcasting, which can be the main source of news and emergency information in rural parts of the U.S. Senator Mike Rounds, a South Dakota Republican, was concerned about funding cuts to Native American radio stations, but said on Tuesday he would support the rescissions package after the administration promised to fund some tribal broadcasters separately.

    Democrats also have said the U.S. withdrawal of “soft power” efforts from the international stage, such as limited emergency assistance after an earthquake in Myanmar, strengthens global adversaries like Russia and China.

    “It still leaves an enormous vacuum that China and Russia will fill,” Senator Charles Schumer of New York, the chamber’s Democratic leader, said.

    Senator Susan Collins of Maine, who chairs the Appropriations Committee, had said she opposed Trump’s request to cut the PEPFAR funding. After the lunch meeting with Vought, she said she still wanted detailed information about the proposals.

    FUNDING POWER

    Standalone presidential rescissions packages have not passed in years, with lawmakers reluctant to cede their constitutionally mandated control of government spending. During Trump’s first term in 2018, Congress members rejected Trump’s request to revoke $15 billion in spending.

    Trump’s Republicans hold narrow majorities in the Senate and House. So far, they have shown little appetite for opposing his policies.

    The rescissions legislation passed the House by 214-212 last month. Four Republicans joined 208 Democrats in voting against it.

    These cuts would overturn bipartisan spending agreements most recently passed in a full-year stopgap funding bill in March. Democrats warn a partisan cut now could make it more difficult to negotiate government funding bills that must pass by September 30 to avoid a shutdown.

    Appropriations bills require 60 votes to move ahead in the Senate, but the rescissions package needs just 51, meaning Republicans can pass it without Democratic support.

    “We’re going to have to work our way through that issue,” Rounds said on Tuesday, adding he felt confident Trump’s budget office would follow funding guidelines to redirect dollars to tribal media stations.

    [REUTERS]

  • MIL-OSI Asia-Pac: LCQ16: Mobile applications to assist with travel for persons with disabilities

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Andrew Lam and a written reply by the Secretary for Labour and Welfare, Mr Chris Sun, in the Legislative Council today (July 16):
     
    Question:
     
         Regarding mobile applications to assist with travel for persons with disabilities (PWDs), will the Government inform this Council:
     
    (1) which funded projects under the current government funding schemes for software and application development are related to assistance with barrier-free travel for PWDs (set out in a table);
     
    (2) of the Government’s plans (e.g. provision of funding support) in place to integrate, enhance and link up existing mobile applications that assist with barrier-free travel for PWDs, so as to optimise the use of resources and enable such applications to more effectively serve PWDs; and
     
    (3) given that since 2020 the Lands Department has been developing a set of 3D Digital Map with functions including provision of barrier-‍free route planning for people with different commuting needs, how the Government promotes the best use of such digital map among the public and private sectors and identifies access points in need of improvement, so as to lay down a foundation for future improvement and update of the relevant software and hardware (e.g. the relevant mobile applications and barrier-free facilities)?
     
    Reply:
     
    President,
     
         The Government is committed to providing appropriate support and assistance to persons with disabilities in need so as to facilitate their travel and help them fully integrate into the community. Having consulted the relevant bureaux, I set out below a consolidated reply to the Member’s question –
     
    (1) Both the Smart Traffic Fund and the Social Innovation and Entrepreneurship Development Fund set up by the Government have provided funding for projects that assist barrier-free travel for persons with disabilities. Information on the relevant projects is at Annexes 1 and 2 respectively.
     
    (2) Regarding the mobile applications developed by the Government, the Digital Policy Office has promulgated the “Practice Guide for Developing Mobile Apps”, requiring bureaux/departments (B/Ds) to conduct regular reviews after launching mobile applications, and to update and consolidate existing mobile applications in a cost-effective manner.
     
         For instance, in 2016, the Lands Department (LandsD) launched a mobile application “VoiceMapHK”, which is specifically designed for the visually impaired, providing audio output that reads out information about nearby locations on the map. The visually impaired can also make use of the voice function of their mobile phones to issue commands, and the application will respond by reading out the corresponding results. To optimise the use of resources, the LandsD plans to integrate the functionalities of the “VoiceMapHK” into the GeoInfo Map, another map application under its management. With the launch of the “iAM Smart” mini-program platform later this year, all B/Ds must consider to prioritise migrating their mobile applications or integrating the core functions into the “iAM Smart” platform, so that members of the public can easily access the required application services without the need to download additional applications, thereby enhancing the consolidation of Government mobile applications.
     
         In addition, in 2021, the Development Bureau (DEVB), with the support of various non-governmental organisations, the MTR Corporation Limited and some iconic shopping malls in Kowloon East, developed a “Smart Navigation Tool for The Visually Impaired/People in Need” Proof-of-Concept, providing barrier-free navigation experience. This tool utilises indoor maps to provide indoor and outdoor seamless navigation, which helps users easily navigate and interact with the environment, and increases their independence and mobility. In January 2023, this tool was incorporated into the “MyKE” mobile application as the “Walking Assistant” function. The DEVB will continue to explore scaling up this Proof-of-Concept to cover more areas, so as to enable those in need to commute more freely.
     
         In response to the recommendations of the Equal Opportunities Commission on enhancing the overall accessibility of Hong Kong, the Transport Department has also enhanced the function of accessible route option of the mobile application HKeMobility since April 2024 by expanding the accessible route option from walking mode to public transport mode. When members of the public choose to travel by public transport, the HKeMobility can plan routes with visual aids or mobility aids to enable the public to identify barrier-free accesses (such as locations of lifts, ramps and footbridges) along the way to transport stations, so that persons with disabilities can plan their journeys more efficiently and travel on their own.
     
         In addition, the Hong Kong Observatory (HKO) has been actively pursuing web accessibility design over the years. The HKO’s in-house developed mobile application “MyObservatory” has already incorporated guidelines on accessibility features and functions, including screen reader compatibility, alternative texts for images and selectable font size, so as to facilitate all sectors of the community (including persons with disabilities) to browse the “MyObservatory” to get the latest weather conditions before traveling. The HKO will continue to incorporate accessibility features and functions in the mobile application, providing enhanced weather services.
     
    (3) The LandsD and the Spatial Data Office (SDO) of the DEVB have been promoting the application of 3D Digital Map to public and private organisations through various channels (such as public talks and workshops), to highlight the development opportunities it brings. As a key component of the 3D Digital Map, the 3D Pedestrian Network provides a wealth of useful information, such as road names, gradient and length of road sections, distribution of en-route obstacles and opening hours of public lifts, as well as wheelchair accessibility data at entrance to government facilities and public lifts. This enables barrier-free route planning for people with different commuting needs. The LandsD and the SDO of the DEVB will continue to engage with various stakeholders (including social welfare organisations and groups serving persons with disabilities), communicate with relevant public and private organisations based on stakeholder needs, promote cross-agency information exchange and collaboration, and jointly optimise the 3D Pedestrian Network to enhance the convenience of public mobility.

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: NSU scientists create a new type of endoscopic system for diagnostics and destruction of cancer cells

    Translation. Region: Russian Federal

    Source: Novosibirsk State University –

    An important disclaimer is at the bottom of this article.

    The results of the Russian Science Foundation mega-grant competition for fundamental scientific research and exploratory scientific research under the supervision of leading foreign scientists have been summed up. 230 projects from 127 scientific organizations from 35 subjects of the Russian Federation applied for RSF support. The projects submitted for the competition are being implemented under the supervision of leading scientists with citizenship from 40 countries, including China, India, Iran, Belarus, Kazakhstan, the USA, Italy, and France. According to the results of the examination, 14 projects were declared winners. For 5 years, they will receive from 20 to 50 million rubles annually. If necessary, it is envisaged to extend the grant support for another three years.

    Among the winners is the project of scientists from the Laboratory of Nonlinear Optics of Waveguide Systems of Novosibirsk State University “The Kerr Self-Cleaning Effect of Multimode Beams in Specialized Optical Fibers and Its Application for Biomedicine”. This laboratory was created in May 2017 as a result of the victory of the project “Spatio-temporal Nonlinear Optics of Multimode and Multi-Core Fiber Systems” in the fifth competition of the Ministry of Education and Science of Russia for receiving grants from the Government of the Russian Federation for state support of scientific research conducted under the supervision of leading scientists. Its head is a recognized world expert in the theory of surface waves, as well as an expert in nonlinear effects in fiber-optic communication systems Stefan Wabnitz. His research activity for more than 30 years took place in leading academic and industrial institutions in Europe and the USA.

    — Our project is aimed at creating an innovative endoscopic device that combines optical biopsy and low-temperature plasma therapy technologies. Its goal is to develop a unified system that provides the ability to both diagnose and treat gastrointestinal diseases, including oncological diseases, in real time, which will eliminate the need for lengthy histopathology and increase the accuracy of examinations. This device will combine two functions at once — diagnostics (using machine learning) and therapy (laser/plasma), minimizing damage to healthy tissues, — said Denis Kharenko, senior researcher at the laboratory.

    In current medical practices, ex vivo histopathology is used for accurate cancer diagnostics, during which laboratory studies of living tissue transferred from the body to an artificial external environment are carried out. It involves taking tissue from the patient, which leads to delays in the start of therapy and requires complex laboratory procedures and practically does not allow observing the course of the disease in dynamics. NSU scientists propose to solve this problem by introducing in-vivo diagnostics, which allows examining the body without taking material using optical endoscopic methods. It is important that this diagnostic method will be associated with the possibility of therapeutic intervention, which will not only significantly increase the area under study and the volume of data obtained, but also accurately identify the affected area during repeated examination, minimizing time and economic costs, as well as the risks of errors associated with the analysis of samples outside the body.

    — The new type of endoscopic system we are creating, in addition to diagnostics, will be able to precisely affect tumor cells using temperature-controlled laser radiation and low-temperature plasma, causing their apoptosis without excessive heating — a process of programmed cell death, in which the cell self-destructs, disintegrating into individual fragments, which are then absorbed by other cells without causing negative consequences. This leads to minimal damage to healthy tissue. This feature will reduce side effects, avoid fibrosis and vascular damage, which is extremely important for improving the quality of life of patients. The project is a significant step forward in the field of “optical biopsy” and endoscopic therapy, — explained Denis Kharenko.

    One of the main scientific tasks of the scientists will be to optimize the process of diagnostics and treatment of cancer using a multimode optical fiber, which implements the Kerr self-cleaning effect, providing high resolution (up to 0.66 µm) and resistance to mechanical impacts during the propagation of laser radiation. The integration of multiphoton fluorescence and Raman scattering will further expand the diagnostic capabilities of the device, allowing for spectroscopic studies of tissues and the detection of biomarkers characteristic of different stages of the disease with microscopic accuracy. According to the project participants, this technology will make the device a universal tool for both diagnostics and subsequent treatment.

    The project involves several stages. First, the scientists will design and test multimode fibers and high-repetition-rate lasers for the endoscopic system. The next step will be to test the device on biological samples, including lab-created organoids and cancerous tissue.

    — We are confident that our experimental setup with the ability to precisely control low-temperature plasma will allow localized impact on the affected areas of organs and tissues, which will create the basis for the application of the technology in clinical practice. We intend to create a flexible and highly effective visualization and therapy system, which will subsequently become established as a standard in the field of diagnostics and treatment of gastrointestinal diseases, including oncological diseases in the early stages, — said Denis Kharenko.

    Material prepared by: Elena Panfilo, NSU press service

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

    .

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: LCQ20: Preventing child abuse

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Maggie Chan and a written reply by the Secretary for Labour and Welfare, Mr Chris Sun, in the Legislative Council today (July 16):

    Question:

         It has been reported that Hong Kong has recently witnessed a series of shocking cases of child abuse, including a recent incident where a deliveryman repeatedly abused his biological daughter, leading to her death. The defendant was ultimately convicted of murder and sentenced to life imprisonment, and he was sentenced to imprisonment of six years and five months for his child abuse offence. There are views that as the current maximum penalty of child abuse is only ten years, it fails to fully reflect its severity and effectively prevent child abuse from taking place, and, given that Hong Kong has seen cases of child abuse resulting in death in the past, it is imperative for the authorities to significantly increase the maximum penalty for child abuse offence, so as to enhance deterrence and protect children. In this connection, will the Government inform this Council:

    (1) of the following information regarding child abuse cases successfully prosecuted by the authorities last year: (i) number of cases, (ii) date of prosecution, (iii) date of sentence, (iv) whether the perpetrator was a direct relative of the victim, (v) whether the abuse resulted in the death of or grievous bodily harm to the child, and (vi) term of imprisonment in cases where imprisonment was imposed; and

    (2) whether it has plans to review relevant legislation to increase the maximum penalty for child abuse offence; if so, of the details; if not, the reasons for that?

    Reply:

    President,

         The Government has been adopting a multi-pronged strategy to protect children from harm or abuse. Apart from identifying and intervening in child abuse cases at an early stage to protect children, the Government also supports families at risk of child abuse to prevent child abuse at source. The consolidated reply to the Member’s question, in consultation with Security Bureau, is as follows:

         At present, there are many pieces of legislation in place that protect children from harm and abuse, including the Offences against the Person Ordinance (Cap. 212), the Crimes Ordinance (Cap. 200), the Prevention of Child Pornography Ordinance (Cap. 579) and the Protection of Children and Juveniles Ordinance (Cap. 213).

         Section 26 of the Offences against the Person Ordinance (Cap. 212) provides that any person who unlawfully abandons or exposes a child under the age of 2 years, whereby the life of such child is endangered, or the health of such child is or is likely to be permanently injured, shall be guilty of an offence; and section 27 provides that any person over the age of 16 years who wilfully assaults, ill-treats, neglects, abandons or exposes any child or young person under the age of 16 years under the person’s custody, charge or care in a manner likely to cause such child or young person unnecessary suffering or injury to his health shall be guilty of an offence. Among the cases concluded in 2024, the number of persons prosecuted and convicted under the two above-mentioned provisions, as well as the sentences for the persons convicted are at Annex. The Security Bureau does not maintain information about the relationship between the defendant and the victim, and the statistics of the death or severe bodily harm caused in the aforementioned cases.

         The Mandatory Reporting of Child Abuse Ordinance (the Ordinance) will come into effect in January 2026. To strengthen early identification and intervention of child abuse cases, the Ordinance mandates specified professionals in the social welfare sector, education sector and healthcare sector to report serious child abuse cases, thereby creating a wide and effective protection web for children and sending a strong deterrent to potential perpetrators that their abuse behaviours will easily be exposed. To tie in with the commencement of the Ordinance, the Government launched the Child Protection Campaign in January this year to enhance the mandated reporters and the general public’s understanding of the Ordinance and raise their awareness of child protection. In addition, to strengthen prevention of child abuse from source, the Social Welfare Department (SWD) will convert four Children and Youth Centres into Community Parents and Children Centres on a pilot basis to promote parent-child interaction through play-based services and instil positive parenting skills in parents, render support for families with parenting needs, and refer families with other needs to appropriate government and community services. Through home visits and referrals from healthcare or welfare service units, the SWD will approach families of socio-economic deprivation and provide them with further support via in-depth casework and group work, including therapeutic counselling and systematic and tailor-made group programmes.

         The implementation of the mandatory reporting regime and the setting up of Community Parents and Children Centres mark an important milestone in child protection. The Government will continue to ensure that the various support measures are properly put in place, and will monitor the effectiveness of the above measures after their implementation to consider how to further enhance child protection work, including the need to increase the maximum penalties for child abuse offences.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Speech by SCST at Publishing 3.0+ Launch Ceremony (English only)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, at the Publishing 3.0+ Launch Ceremony today (July 16):

    Kenneth (Member of the Legislative Council and the Chairman of Publishing 3.0+, Mr Kenneth Fok), Duncan (Member of the Legislative Council and the Chairman of Publishing 3.0+, Mr Duncan Chiu), Sharon (Executive Director of the Hong Kong Reprographic Rights Licensing Society and the Chairman of Publishing 3.0+, Dr Sharon Wong), Mr Rashid Al Kous (Executive Director of the Emirates Publishers Association), distinguished guests, ladies and gentlemen, 

    Good morning. It is my great pleasure to officially launch Publishing 3.0+ with industry practitioners, scholars, experts and authors. And let me also extend my warmest welcome to Mr Rashid Al Kous, coming all the way from the United Arab Emirates, and our distinguished guests here from overseas copyright organisations around the world.

    Three years ago, the then Create Hong Kong, which is now restructured as the Cultural and Creative Industries Development Agency, CCIDA, under my bureau, began sponsoring and steering the Publishing 3.0 project, as a touchstone of an in-depth application of artificial intelligence (AI) to the publishing industry, enabling the extensive production of e-books and audiobooks. The project enabled around 60 Hong Kong publishers to successfully convert paper publications into 5 000 bilingual e-books and audiobooks in Cantonese, Putonghua and English, seizing the tremendous opportunity of digital transformation.  

    Publishing 3.0+ builds on the success of its predecessor. This enhanced project will focus on large language models within the AI-driven system, and further strengthen its multilingual translation and content conversion capabilities, empower local publishers to convert Chinese books into multi-languages, and open doors to a global readership. Publishing 3.0+ will refine the e-books and audiobooks converted over the past years, and further deliver another 5 000 translated and converted copies of books.

    The fruitful expected outcome of 10 000 e-books and audiobooks will be showcased in the Hong Kong pavilions at various international book fairs in the coming months. We will further leverage the Hong Kong Trade Development Council (HKTDC)’s Asia IP Exchange, AsiaIPEX, to facilitate and encourage the industry to tap into the vast opportunities of copyright trading.

    President Xi Jinping has emphasised that literature and art serve as bridges of mutual understanding and communication among different countries and ethnic groups. With a considerable amount of foreign classics on his reading list, President Xi repeatedly shared his deep and inseparable bond with books on international occasions when meeting foreign friends. We see that books are media that help foster friendships and exchanges between cultures. 

    With the great delight of having our Middle East friend here today, may I share our exciting plan that Publishing 3.0+ will soon expand to include Arabic translation. During my official visit to the Middle East in April this year, I was deeply impressed by the region’s rich cultural and historical heritage. I am most delighted that Publishing 3.0+ will contribute to our effort to realising closer cultural links and friendship between the Middle East and Hong Kong, aligning the shared visions of both regions.

    Publishing 3.0+ is a collaboration of multiple parties. I would like to express my heartfelt appreciation to Kenneth, Duncan and Sharon, the founder of InnoContent, whose unique blend of cultural insight, technological innovation and publishing expertise has been instrumental in realising this project. My special thanks also go to SenseTime for its unparalleled AI expertise and infrastructure, which enhance the system’s capabilities, and the Hong Kong Publishing Federation, the Hong Kong Reprographic Rights Licensing Society, and the Logistics and Supply Chain MultiTech R&D Centre for their unwavering support since the last project, and the HKTDC for its efforts in the intellectual property trading.

    Before I close, I wish Publishing 3.0+ a striking success under the collaborative efforts by the Government, the publishing industry and technology partners. I look forward to seeing Hong Kong’s AI-driven publishing sector reaches new heights, telling the good story of Hong Kong. Through this initiative, we will showcase creativity, vitality, and innovation in the age of new media. 

    Thank you very much.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Hong Kong Deposit Protection Board Annual Report 2024-2025

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:

    ​The Hong Kong Deposit Protection Board (the Board) today (July 16) published its Annual Report for 2024-2025. The Report highlights the key achievements of the Board in 2024-2025, which include the smooth implementation of a number of enhancements to the Deposit Protection Scheme (the Scheme) in two phases on October 1, 2024 and January 1, 2025. The Board also stepped up its promotional efforts to raise awareness of the new protection limit of HK$800,000. The Board’s dedicated efforts throughout the year contributed to the achievement of high levels of public awareness of and confidence in the Scheme. 
     
    The Annual Report 2024-2025 is available on the Board’s website (www.dps.org.hk).

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Leading Mainland sports drinks brand uses Hong Kong as regional headquarters to go global (with photos)

    Source: Hong Kong Government special administrative region

    Invest Hong Kong (InvestHK) announced today (July 16) that a renowned Mainland sports drinks brand, Jianlibao, has chosen Hong Kong as its regional headquarters, leveraging the city’s role as an international business hub and a gateway to overseas markets to expand globally.

    Associate Director-General of Investment Promotion at InvestHK Mr Arnold Lau welcomed Jianlibao’s decision. He said, “We are happy to see that Jianlibao has established its regional headquarters in Hong Kong. It not only highlights the city’s unique advantages as a global business hub but also reinforces our position as a preferred destination for Mainland enterprises looking to expand internationally. Hong Kong has a sound legal system, world-class infrastructure and a vibrant business environment, which are conducive to Jianlibao’s strategy of expanding its global business.”

    Jianlibao has been actively expanding its business in Hong Kong since its establishment in the city in 2024. The company has recently installed over 50 vending machines across various districts, including Central, Tai Po, and Hung Hom, making its healthy beverages easily accessible to visiting tourists, local families, and transit passengers. The company also supports local sports initiatives by sponsoring local sports team and events.

    The Vice Chairman of Jianlibao Group, Mr Yeung Wan-chung, said the decision to set up its regional headquarters in Hong Kong is a strategic move by the company to expand its global footprint. He said, “We chose Hong Kong as our regional headquarters because of its unparalleled access to international markets and its reputation as a global financial and logistics hub.”

    The Director of Jianlibao Asia, Mr Larry Yeung, explained, “Hong Kong’s strategic location, coupled with its dynamic business environment, provides us with an ideal platform to accelerate our global expansion. We are confident that this move will enable us to reach new markets and strengthen our brand presence worldwide.”

    He added, “We plan to launch a new product series in Hong Kong to increase our exposure in the market. We are now actively preparing to enter the Southeast Asian market, with Indonesia, Malaysia and Vietnam as the first stops, and to expand our business to Australia, Canada and the United States to enhance our market presence.”

    For more information about Jianlibao, please visit www.jianlibao.com.cn.

    For a copy of the photos, please visit: www.flickr.com/photos/investhk/albums/72177720327571249.

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: G20 Finance Ministers and Central Bank Governors meetings

    Source: Australian Parliamentary Secretary to the Minister for Industry

    This week I will join international counterparts for the G20 Finance Ministers and Central Bank Governors meetings in Durban, South Africa.

    There could not be a more important time for G20 nations to work together and for Australia to be part of that collective effort.

    Australia is a big believer in these multinational opportunities and a big beneficiary of global economic cooperation and free and open markets.

    We engage enthusiastically with the world in the interests of Australian workers, industries and our economy.

    Subdued global growth, extreme uncertainty and fragmentation demands more engagement, more collaboration and more resilience and that’s what guides our strategy.

    Together we are navigating a world where volatility, uncertainty and unpredictability are now the norm, not the exception.

    Conflict in the Middle East and Eastern Europe and escalating trade tensions pose substantial threats to the international economic outlook.

    My priorities at these meetings are strengthening ties, bolstering supply chains and capital flows, and making the most of the global net zero opportunity.

    I will also engage with G7+ countries on critical minerals, and meet individually with six of my international counterparts, including:

    • Indonesian Minister of Finance Sri Mulyani Indrawati
    • Japanese Finance Minister Katsunobu Katō
    • Canadian Minister of Finance François‑Philippe Champagne (our first in‑person meeting after a productive phone call last month)
    • United Kingdom Chancellor of the Exchequer Rachel Reeves
    • South African Minister of Finance Enoch Godongwana
    • German Vice‑Chancellor and Minister of Finance Lars Klingbeil (our first meeting)

    The Australian economy is not immune from global uncertainty but we are well‑placed and well‑prepared to face the challenges ahead.

    Inflation has moderated in a substantial and sustained way, unemployment remains near historic lows, real wages are growing again, and we’ve delivered the biggest nominal budget turnaround in our history.

    Last year, Australia was one of only two G20 nations to achieve the trifecta of continuous growth, inflation with a 2 in front of it and unemployment in the low 4s.

    Under Labor, our budget position has gone from the fifth‑weakest to the fifth‑strongest among G20 nations and our debt is now the fifth‑lowest.

    Our international engagement recognises that the global economic environment will be the main factor shaping the choices we make in our second term of government.

    These meetings will provide important perspectives on the global outlook and help us to make further progress at home and with our key international partners.

    MIL OSI News –