Category: Banking

  • MIL-OSI Banking: Samsung Strengthens Premium Retail Footprint in Pune with New Viman Nagar Experience Store

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand, inaugurated another experience store in Viman Nagar in Pune, further reinforcing its commitment to enhancing premium retail presence across cities. Spanning 1050 sq. ft., the new store offers a one-stop destination for customers to explore Samsung’s cutting-edge innovations and seamless connected ecosystem under one roof.
     
    The store features dedicated zones showcasing the latest smartphones, tablets, laptops, smartwatches, smart rings, and the innovative SmartThings ecosystem that supports connected living. Through interactive displays and hands-on experiential areas, visitors can discover how seamlessly these devices integrate across productivity, entertainment, wellness and smart home automation.
     
    Located in one of Pune’s most affluent and high-footfall neighbourhoods, the new Samsung experience store offers customers an opportunity to explore and engage with the brand’s latest innovations across categories. As cities emerge as growth drivers, this store is poised to serve as a vital retail touchpoint, enabling deeper consumer engagement and strengthening Samsung’s presence in these high-potential markets.
     
    “At Samsung, our aim is to create inspiring retail experiences that bring innovation closer to our customers. The inauguration of our premium experience store in Viman Nagar, Pune, marks another significant step in strengthening our premium presence. This new store embodies our broader vision of growing our premium retail presence and offering a holistic, all-in-one destination that brings together cutting-edge innovation, meaningful customer engagement, and outstanding service, all under one roof,” said Sumit Walia, Vice President, Head of D2C Business & Corporate Marketing at Samsung India.
     
    Reinforcing its commitment to customer satisfaction and digital empowerment, the new store will host Samsung’s flagship ‘Learn @ Samsung’ initiative, which has seen success in other locations across India. This programme offers a variety of workshops designed to equip consumers—especially millennials and Gen Z—with the skills and knowledge to make the most of advanced tech. These interactive sessions that provide hands-on experiences with Galaxy devices, cover topics such as AI-powered photography, productivity, creativity and digital doodling, enhancing both user engagement and tech proficiency.
     
    To celebrate the launch, customers visiting the store can avail:
     

    Over 30 free subscriptions across leading OTT, music, wellness, and infotainment platforms.
    Exclusive discounts on over 40 brand gift cards and over 25 top deals from premium brands.
    Buy-1-Get-1-Free buffet deals across over 100 premium restaurants across India.
    Paytm First membership rewards, special travel savings on flights, and discounts at over 14,000 restaurants nationwide.

     
    The store also introduces Samsung Store+, a user-friendly digital platform that enables in-store visitors to explore detailed product information and conveniently choose home delivery, creating a smooth and integrated online-offline shopping experience. In addition, a dedicated service centre within the store ensures enhanced post-purchase support for customers.

    MIL OSI Global Banks

  • MIL-OSI: Municipality Finance issues EUR 10 million zero coupon notes under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    17 June 2025 at 10:00 am (EEST)

    Municipality Finance issues EUR 10 million zero coupon notes under its MTN programme

    Municipality Finance Plc issues EUR 10 million zero coupon notes on 18 June 2025. The maturity date of the notes is 18 June 2065. MuniFin has a right, but no obligation, to redeem the notes early on 18 June 2035.

    The notes are issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular and the final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 18 June 2025.

    Goldman Sachs Bank Europe SE acts as the dealer for the issue of the notes.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland.
    The Group’s balance sheet is over EUR 53 billion.

    MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, corporate entities under their control, and non-profit organisations nominated by the Housing Finance and Development Centre of Finland (ARA). Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: https://www.kuntarahoitus.fi/en/

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network

  • Monsoon to reach Bihar within 48 hours, IMD issues orange alert for northern districts

    Source: Government of India

    Source: Government of India (4)

    After days of sweltering heat and high humidity, relief is finally in sight for Bihar, with the southwest monsoon set to arrive via Purnea and Kishanganj within the next 48 hours, according to the Meteorological Centre in Patna.

    The India Meteorological Department (IMD) has issued an orange alert for several districts in North Bihar, warning of heavy rainfall, thunderstorms, and lightning.

    Over 20 districts, including Patna, Gaya, Bhagalpur, Munger, East and West Champaran, Siwan, Saran, and Katihar, are likely to receive light to moderate rainfall in the coming days.

    Heavy rain warnings are specifically in place for Sitamarhi, Madhubani, Supaul, Araria, and Kishanganj, where thunderstorms accompanied by winds reaching speeds of 40-50 kmph are expected.

    Rainfall recorded in the past 24 hours has further confirmed the onset of the monsoon.

    Notable rainfall figures include Bikramganj (Rohtas) – 30 mm; Raghunathpur (Siwan) – 25.6 mm; and Hathwa (Gopalganj) – 20.8 mm

    Despite the rain, Chhapra remained the hottest place at 41.1 degrees Celsius, though temperatures dipped slightly in about 20 districts.

    The Disaster Management Department has issued advisories urging people to avoid open areas and refrain from standing under trees during lightning or thunderstorms.

    The IMD has further warned of thunderstorms and gusty winds on June 17 in the districts of West Champaran, Siwan, Gopalganj, Kishanganj, Katihar, Bhagalpur, Banka, Nawada, Gaya, and Rohtas.

    Residents have been advised to stay indoors during inclement weather, avoid standing near electric poles or trees, and stay updated with local weather alerts.

    With easterly, moisture-laden winds intensifying, the IMD expects the monsoon to become fully active across Bihar by June 17-18, bringing consistent rainfall and a noticeable drop in temperatures across the state.

    (With inputs from IANS)

  • Monsoon to reach Bihar within 48 hours, IMD issues orange alert for northern districts

    Source: Government of India

    Source: Government of India (4)

    After days of sweltering heat and high humidity, relief is finally in sight for Bihar, with the southwest monsoon set to arrive via Purnea and Kishanganj within the next 48 hours, according to the Meteorological Centre in Patna.

    The India Meteorological Department (IMD) has issued an orange alert for several districts in North Bihar, warning of heavy rainfall, thunderstorms, and lightning.

    Over 20 districts, including Patna, Gaya, Bhagalpur, Munger, East and West Champaran, Siwan, Saran, and Katihar, are likely to receive light to moderate rainfall in the coming days.

    Heavy rain warnings are specifically in place for Sitamarhi, Madhubani, Supaul, Araria, and Kishanganj, where thunderstorms accompanied by winds reaching speeds of 40-50 kmph are expected.

    Rainfall recorded in the past 24 hours has further confirmed the onset of the monsoon.

    Notable rainfall figures include Bikramganj (Rohtas) – 30 mm; Raghunathpur (Siwan) – 25.6 mm; and Hathwa (Gopalganj) – 20.8 mm

    Despite the rain, Chhapra remained the hottest place at 41.1 degrees Celsius, though temperatures dipped slightly in about 20 districts.

    The Disaster Management Department has issued advisories urging people to avoid open areas and refrain from standing under trees during lightning or thunderstorms.

    The IMD has further warned of thunderstorms and gusty winds on June 17 in the districts of West Champaran, Siwan, Gopalganj, Kishanganj, Katihar, Bhagalpur, Banka, Nawada, Gaya, and Rohtas.

    Residents have been advised to stay indoors during inclement weather, avoid standing near electric poles or trees, and stay updated with local weather alerts.

    With easterly, moisture-laden winds intensifying, the IMD expects the monsoon to become fully active across Bihar by June 17-18, bringing consistent rainfall and a noticeable drop in temperatures across the state.

    (With inputs from IANS)

  • MIL-OSI: LHV Group results for May 2025

    Source: GlobeNewswire (MIL-OSI)

    May for LHV was characterised by the rapid growth of the loan portfolio. Profitability was impacted by the ongoing decline in interest rates and the partial reversal of previous impairments. LHV Group’s consolidated loan portfolio grew by EUR 104 million in May. At the same time, the total volume of deposits decreased by EUR 34 million. The volume of funds managed by LHV decreased by EUR 11 million over the month. In May, 6.7 million payments related to financial intermediaries were made.

    In May, AS LHV Group earned EUR 10.3 million in consolidated net profit. Among the subsidiaries, AS LHV Pank earned a net profit of EUR 10.5 million, LHV Bank Ltd earned a net profit of EUR 28 thousand, AS LHV Kindlustus earned a net profit of EUR 339 thousand, and AS LHV Varahaldus earned a net profit of EUR 297 thousand. The return on equity attributable to the shareholders was 17.3% in May.

    The number of LHV Pank customers grew by 2,800 in May, exceeding the 470,000 mark. Loan growth was strong at EUR 83 million, of which EUR 51 million came from corporate loans and EUR 32 million from private loans. The overall quality of the loan porftolio remains good and a solution was found for one of the two largest non-performing loans, which led to a reduction in previously recognised provisions. The strong month was also reflected in deposits, as corporate banking deposits decreased by less than expected against the backdrop of an increase of EUR 88 million in retail banking deposits. The decline in interest rates is reducing the bank’s net interest income, as deposit interest rates are falling more slowly than loan interest rates.

    LHV Bank, which operates in the United Kingdom, launched the initial version of its retail customer offer in May, that allows customers to use the bank app, open an account, make payments, order a bank card, and securely deposit money. The presentation of the offer and the marketing campaign were started, the costs of which also affected the company’s monthly profit. Work will continue on the following products to further develop the offer. The Bank’s loan portfolio grew by EUR 21 million in May.

    The stable revenue growth of LHV Kindlustus also continued in May. New insurance contracts were concluded for an amount of EUR 3.15 million. As at the end of May, there are 274,000 valid insurance contracts. Performance improved due to a successful motor own damage insurance campaign. Compensation for loss events amounted to EUR 2.2 million and 12,500 new claims were registered in May. The profitability of Kindlustus has been improved by a very good loss ratio.

    Since May was a strong month in the financial markets, the pension funds of LHV continued to grow value for their customers. The larger funds managed by the LHV Varahaldus, L and XL, increased by 1.2% and 2.3%, respectively, over the month. LHV Pensionifond Indeks increased by 5.6% over the month. The net profit of LHV Varahaldus exceeds the financial plan, while the volume of funds and the number of customers are slightly below the planned level. In May, LHV Varahaldus announced a plan to change the names of pension funds to make them clearer for customers and to merge the green pension funds with other funds.

    Since LHV Group issued AT1 bonds worth EUR 50 million in April, EUR 15 million worth of AT1 bonds were called back in May. As a result of the share option program, the share capital of LHV Group was increased by EUR 366,721.30. Share acquisition transactions were also initiated in accordance with the resolution of the shareholders’ general meeting held in March. The financial plan stands.

    The reports of AS LHV Group are available on the website at: https://investor.lhv.ee/en/reports.

    LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,150 people. As at the end of May, LHV’s banking services are being used by 471,000 customers, the pension funds managed by LHV have 111,000 active customers, and LHV Kindlustus protects a total of 176,000 customers. LHV Bank offers retail banking services to private customers in the United Kingdom, loans to small and medium-sized enterprises, and banking services to international fintech companies.

    Priit Rum
    Communications Manager
    Phone: +372 502 0786
    Email: priit.rum@lhv.ee 

    Attachment

    The MIL Network

  • MIL-OSI Banking: Secretary-General of ASEAN chairs the Judging Committee for ASEAN Prize 2025

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today chaired the 8th Judging Committee Meeting for the ASEAN Prize, at the ASEAN Headquarters/ ASEAN Secretariat. The Committee, also comprising of former Secretaries-General of ASEAN, engaged in comprehensive and deliberative discussions to meticulously assess all the national nominations from ASEAN Member States. This process reaffirms ASEAN’s steadfast commitment to upholding the principle of excellence and merit-based recognition of ASEAN-based individuals and organisations who have contributed to ASEAN’s community building efforts. The occasion also provided Dr. Kao and his distinguished predecessors the opportunity to exchange perspectives on the current regional dynamics and global megatrends, particularly in light of the recently adopted ASEAN Community Vision 2045 and its four Strategic Plans, at the 46th ASEAN Summit, in Kuala Lumpur, Malaysia.

     
    The post Secretary-General of ASEAN chairs the Judging Committee for ASEAN Prize 2025 appeared first on ASEAN Main Portal.

    MIL OSI Global Banks

  • Indian stock market opens lower amid weak Asian cues

    Source: Government of India

    Source: Government of India (4)

    Indian benchmark indices opened in the red on Tuesday, tracking weak cues from Asian markets, with early trade witnessing selling pressure in auto, IT, and pharma sectors.

    At around 9:28 a.m., the BSE Sensex was down 186.35 points or 0.23 per cent at 81,609.80, while the NSE Nifty fell 68.20 points or 0.27 per cent to trade at 24,878.30.

    The Nifty Bank index slipped 30.10 points or 0.05 per cent to 55,914.80. The Nifty Midcap 100 index was trading lower by 36.40 points or 0.06 per cent at 58,732.10, while the Nifty Smallcap 100 declined 66.30 points or 0.36 per cent to 18,482.90.

    Market sentiment remained cautious as investors reacted to geopolitical tensions and global cues. Analysts noted that former US President Donald Trump’s latest comments on Iran have raised concerns about the broader geopolitical outlook.

    Despite escalating tensions between Iran and Israel, global markets have shown resilience. The decline in the US volatility index (CBOE VIX) suggests that sharp corrections are unlikely unless the conflict escalates further, market experts said.

    “The key reason for the market’s resilience is the participation of retail investors, who continue to see every market dip as a buying opportunity. Elevated valuations are not discouraging retail flows,” said Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    Among the Sensex constituents, Axis Bank, Kotak Mahindra Bank, NTPC, PowerGrid, Adani Ports, ICICI Bank, SBI, TCS, and HCL Tech were the top gainers in early trade. On the flip side, Tata Motors, Sun Pharma, IndusInd Bank, UltraTech Cement, Titan, and Bajaj Finance were among the top losers.

    On the institutional side, foreign institutional investors (FIIs) offloaded equities worth ₹2,287.69 crore on June 16, while domestic institutional investors (DIIs) remained net buyers with purchases worth ₹5,607.64 crore.

    In Asian markets, indices in Bangkok, Jakarta, Japan, and Seoul were trading in the green, while those in Hong Kong and China witnessed losses.

    In the previous trading session, US markets ended higher. The Dow Jones closed at 42,515.09, up 317.30 points or 0.75 per cent. The S&P 500 gained 56.14 points or 0.94 per cent to end at 6,033.11, and the Nasdaq rose 294.39 points or 1.52 per cent to 19,701.21.

    Attention now turns to the US Federal Reserve, which begins its two-day policy meeting on Tuesday. The central bank is widely expected to keep interest rates unchanged.

    “Comments from Fed Chair Jerome Powell will be closely watched, especially in the context of easing inflation and continued economic strength,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.

    — IANS

  • MIL-OSI Banking: Secretary-General of ASEAN delivers keynote speech at the 2025 ASEAN-ROK Connectivity Forum

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today attended the 2025 ASEAN-ROK Connectivity Forum, where he delivered the keynote speech. This year’s forum carried the theme “ASEAN-ROK Cooperation on Connectivity: Master Plan on ASEAN Connectivity 2025 Review and Opportunities under the ASEAN Connectivity Strategic Plan.” In his speech, Dr. Kao highlighted the progress of the ASEAN Connectivity agenda under the newly adopted ASEAN Connectivity Strategic Plan, driven by current and emerging trends and priorities including the increasing importance of supply chain resilience. He also commended the ROK’s commitment in advancing connectivity across all dimensions through tangible regional connectivity efforts.
     
    Download the full keynote speech here.

    The post Secretary-General of ASEAN delivers keynote speech at the 2025 ASEAN-ROK Connectivity Forum appeared first on ASEAN Main Portal.

    MIL OSI Global Banks

  • MIL-OSI Australia: Australia needs early childhood education and care

    Source: Reserve Bank of Australia

    17 June 2025

    The Importance of Early Learning

    Research demonstrates that high-quality early childhood education lays the foundation for lifelong learning, social development, and emotional wellbeing. Children who undertake two years of preschool typically do better at school, are more engaged in education and are more likely to remain engaged in education, meaning they are also more likely to seek out tertiary education such as TAFE. TAFE is central to stemming skills shortages for qualified early learning educators, but early learning teachers and educators are also essential for the TAFE workforce and TAFE students and their children, to not only allow parents and guardians to participate fully in work, but for their child’s development. A child’s brain grows to near-adult size in the first five years of life. This stunning period of development is crucial in determining whether children thrive and what their life chances and educational experiences are like down the track. Overwhelming international evidence shows that high-quality early childhood education is essential during these first years – even more so for vulnerable children who experience any kind of disadvantage. Yet the shortsighted perception persists (even in 2025!) that looking after babies, toddlers and preschoolers is low-skilled women’s work – with the main purpose of boosting parents’ economic participation.

    Valuing Early Childhood Education and Care (ECEC)

    “I can’t count the number of times people say to me, ‘Kinder’s just Play-Doh and finger-painting isn’t it?’,” says Cara Nightingale, formerly a primary and kindergarten teacher in Victoria and now AEU Victorian Branch vice president, early childhood. AEU early childhood members may be degree-qualified preschool teachers, diploma-level educators who work in funded kinder programs, or Certificate III educators who work in funded kinder programs. Despite lingering dinosaur attitudes, Nightingale says: “Over the last few years we’ve seen significant progress in politicians and the broader community acknowledging the skill, expertise and importance of Early Childhood Education and Care (ECEC).”
    She says the quality of TAFE qualifications have helped in external recognition of the skill sets required in ECEC. “To deliver high-quality ECEC you need a workforce that is highly qualified and provided with wraparound supports and resources for retention, along with professional pay and working conditions that are reflective of the important work of Early Childhood teachers and educators,” Nightingale says.

    Victorian Union Wins

    Recent union wins in Victoria, a state that leads the country in ECEC sector bargaining, are driving change, Nightingale says. “When AEU early childhood members achieved pay parity with school teachers it was a significant win,” she says. “They are the only kinder teachers across the country that have achieved pay parity with school teachers.”

    Three Days Guaranteed

    More good news for the sector came in February with the Early Childhood Education and Care (Three Day Guarantee) Bill 2025, which guarantees families three days of subsidised early learning per week and eliminates the discriminatory activity test that previously restricted access based on parents’ work or study status.

    Policy Progress Since 2022

    Since the Albanese government came to office in 2022, there have been a number of significant industrial relations reforms, funding boosts and initiatives in the sector, including:

    • The Wage Justice for Early Childhood Education and Care Workers Bill 2024
    • A 15 per cent pay rise for early educators, to be phased in over two years
    • A $1 billion fund to build or expand early learning centres in under-served areas
    • The introduction of Free TAFE for priority employment areas, which has seen 35,500 enrolments in ECEC alone
    • The Fair Work Commission’s decision to grant multi-employer bargaining rights.

    Nightingale says multi-employer bargaining is an important shift of the power balance back towards the workforce and members, and directly led to significant ECEC member pay increases in Victoria. Nightingale also applauds the Victorian government’s moves to build state-funded early childhood services in places the market won’t.

    Childcare Deserts: The Last Frontier

    Finding any childcare, let alone affordable or high-quality learning options, remains a problem for many parents, especially those in regional and rural areas. A 2022 Mitchell Institute report found that around 35 per cent of the Australian population lived in what is classified as a ‘childcare desert’ – where there were more than three children per available childcare place. In places like Whyalla, Port Lincoln and Port Pirie in South Australia, around five children were competing for each place. Even worse, 1.1 million Australians live where there are simply no childcare and early learning services at all.

    The Case for Public Provision

    “There are just so many gaps,” says Thrive by Five’s Weatherill. “We are still far away from a universal, high-quality, and affordable early learning system the way we have it in place for maternal health services and primary schools.
    With the current system, we hand out a voucher and ask people to go shopping for childcare. That’s fine if you can find a service at the right price, but if you have children with special needs or you live in the country, or you’re a single mum or in a remote Aboriginal community, there are these gaps because the market [only] provides things that are easy to provide where they can make a dollar.” This is why public provision of ECEC as an essential service, like public TAFE, is important.

    TAFE: An Essential Pipeline

    Early indicators suggest things are moving in the right direction – the ECEC workforce has grown by more than 30,000 since Labor took office, and job vacancies in the sector dropped by 22 per cent in 2024 according to Jobs and Skills Australia. Far greater numbers of skilled graduates will be needed in the near future according to the Australian Children’s Education and Care Quality Authority (ACECQA), which estimates that an additional 85,000 ECEC workers are required to raise Australia’s provision to the OECD average by 2030 and a doubling of the sector by adding almost 260,000 workers to match provision in Nordic countries. Publicly funded TAFE and Free places will be required in large numbers to ramp up this ECEC workforce, providing the Cert III or Diploma in Early Childhood Education and Care. “The provision of free or low-cost TAFE for early educators is crucial in the workforce development story,” says Weatherill. “Degree-based teachers are important, but the overwhelming majority of early educators will be certificate and diploma qualified, and they’ll overwhelmingly be provided by TAFE.” “It’s all connected,” says Cara Nightingale. “Having properly funded TAFE and well-paid teachers is part of it, but so too is providing the additional supports for things like numeracy and literacy that we need.” She says another key benefit of retaining teachers is that they mentor the next generation, ensuring that their skills, knowledge and love of teaching continues.

    By Rochelle Siemienowicz

    This article was originally published in The Australian TAFE Teacher, Autumn 2025

    MIL OSI News

  • MIL-OSI Banking: Money Market Operations as on June 16, 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) 6,17,545.69 5.21 2.90-6.55
         I. Call Money 15,722.23 5.30 4.75-5.35
         II. Triparty Repo 3,98,860.95 5.22 4.90-5.30
         III. Market Repo 2,01,209.51 5.16 2.90-5.50
         IV. Repo in Corporate Bond 1,753.00 5.52 5.36-6.55
    B. Term Segment      
         I. Notice Money** 113.00 5.20 5.00-5.31
         II. Term Money@@ 804.00 5.60-6.00
         III. Triparty Repo 3,058.00 5.34 5.25-5.35
         IV. Market Repo 1,144.84 5.55 5.50-5.55
         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          
    3. MSF# Mon, 16/06/2025 1 Tue, 17/06/2025 1,289.00 5.75
    4. SDFΔ# Mon, 16/06/2025 1 Tue, 17/06/2025 2,77,831.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,76,542.00  
    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          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,471.32  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     8,471.32  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -2,68,070.68  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on June 16, 2025 9,56,885.87  
         (ii) Average daily cash reserve requirement for the fortnight ending June 27, 2025 9,54,173.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ June 16, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on May 30, 2025 5,84,684.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/552

    MIL OSI Global Banks

  • MIL-OSI Banking: RM of BTS Becomes Samsung Art TV Global Ambassador

    Source: Samsung

    ▲ RM, a global icon and a widely respected art connoisseur, has become the official face of Samsung Art TVs. As an ambassador, he will share his commentary on artwork via Samsung Art Store, inviting users and fans to explore the world of art through his unique lens. (Photo courtesy of BIGHIT MUSIC)
     
    Samsung Electronics today announced RM of 21st century pop icons BTS as the official ambassador for Samsung Art TVs.1 The appointment is one of RM’s official activities following his highly anticipated return from mandatory military service in Korea.
     
    As a globally recognized art connoisseur, RM has made headlines for his deep appreciation of the arts, including visits to leading museums and his private collection of contemporary artwork. Now, in his role as Samsung Art TV ambassador, RM will bring his distinctive voice and passion for visual art to Samsung TV users around the world.
     
    “RM’s passion for art and culture deeply resonates with our vision to make art more accessible through technology,” said Hun Lee, Executive Vice President of the Visual Display (VD) Business at Samsung Electronics. “We’re thrilled to welcome him as the ambassador for Samsung Art TVs, and we believe his voice will inspire a new generation to explore the world of art in meaningful, personal ways.”
     

     
    Samsung Art TVs, known for their fusion of advanced display technology and artistic expression, serve as immersive platforms where art comes to life. Through Samsung Art Store2 — a subscription-based service featuring over 3,500 high-resolution artworks in 4K — users can now enjoy curated content with insights from RM himself. His personal reflections and commentary on select works will be accessible directly on Samsung Art Store, providing fans and art enthusiasts with a unique window into his aesthetic sensibilities.
     
    “As someone who finds deep inspiration and comfort in art, I’m honored to partner with Samsung to share my journey and love for visual creativity,” said RM. “Through this collaboration, I hope more people can connect with art in their everyday lives — just like I do.”
     
    As part of his new role, RM will appear at Art Basel, which is one of the world’s premier international art fairs and is held in Basel, Switzerland. There, he will host a special session to share his thoughts on contemporary art, collecting and the cultural significance of visual storytelling. Highlights from this event, including exclusive insights and behind-the-scenes moments, will be published on the Samsung Global Newsroom.
     
    RM’s partnership with Samsung Art TVs sets the stage for a new dialogue between art, technology and global pop culture. Through this collaboration, Samsung continues to elevate its commitment to making world-class art more accessible and personal — now with RM as the bridge between fans and the art world.
     
    For more information, visit www.samsung.com.
     
     
    About RM of BTS
    RM (Kim, Namjun) is a South Korean rapper, songwriter, music producer and the leader of 21st century pop icons BTS. His discography includes solo mixtapes RM (March 2015) and mono. (October 2018), as well as solo albums Indigo (December 2022) and Right Place, Wrong Person (May 2024), which showcase his remarkable versatility across genres. As a creative powerhouse and avid art enthusiast, RM is renowned for crafting profound lyrics often inspired by various art forms. His flexible and philosophical approach to music and ability to push creative boundaries with cutting-edge collaborations has led him to work with a diverse range of artists, including Erykah Badu, Anderson .Paak, Lil Nas X, HONNE, Mahalia, and more. On May 24, 2024, RM released his critically-acclaimed second solo album Right Place, Wrong Person.
     
     
    1 Samsung Art TVs include MICRO LED, The Frame, The Frame Pro, Neo QLED 8K, Neo QLED and QLED models starting from Q7F and above.
    2 Samsung Art Store is an art subscription service available on Samsung Art TVs, including The Frame, NEO QLEDs and QLEDs. Currently available in 117 countries around the world, Samsung Art Store offers over 70 partners and 3,500 artworks in 4K quality. Through Samsung Art Store, subscribers can enjoy artwork from world-class galleries and masters at home and use it to create new interior designs every day.

    MIL OSI Global Banks

  • MIL-OSI Banking: Secretary-General of ASEAN to participate in the 21st ASEAN Ministerial Meeting on Science, Technology and Innovation (AMMSTI-21) in Jakarta

    Source: ASEAN

    At the invitation of H.E. Dr. Laksana Tri Handoko, ASEAN Ministerial Meeting on Science, Technology and Innovation (AMMSTI) Chair 2025 and Chairman of the National Research and Innovation Agency (BRIN) of the Republic of Indonesia, H.E. Dr. Kao Kim Hourn, Secretary-General of ASEAN, will participate in the 21st ASEAN Ministerial Meeting on Science, Technology and Innovation (AMMSTI-21), to be held in Jakarta, Indonesia, on 20 June 2025. AMMSTI Ministers are expected to adopt the ASEAN Plan of Action on Science, Technology and Innovation (APASTI) 2026–2035, a strategic milestone toward building an inclusive and future-ready regional innovation ecosystem. Anchored on the theme “Empowering ASEAN’s STI Ecosystem: National Commitments for Regional Impact,” AMMSTI will set out concrete measures to implement APASTI.
     
    SG Dr. Kao is also scheduled to hold bilateral meetings with H.E. Laksana Tri Handoko, AMMSTI Chair 2025 and Chairman of the National Research and Innovation Agency (BRIN) of the Republic of Indonesia, as well as with H.E. Dr. Renato U. Solidum, Jr., Secretary of the Department of Science and Technology of the Philippines, on the margins of the AMMSTI-21.
    The post Secretary-General of ASEAN to participate in the 21st ASEAN Ministerial Meeting on Science, Technology and Innovation (AMMSTI-21) in Jakarta appeared first on ASEAN Main Portal.

    MIL OSI Global Banks

  • MIL-OSI: LeddarTech Announces Intention to File under the Bankruptcy and Insolvency Act in Canada

    Source: GlobeNewswire (MIL-OSI)

    QUEBEC CITY, Canada, June 16, 2025 (GLOBE NEWSWIRE) — LeddarTech® Holdings Inc. (“LeddarTech” or the “Company”) (Nasdaq: LDTC), an AI-powered software company recognized for its innovation in advanced driver assistance systems (ADAS) and autonomous driving (AD), today announces that, further to its press release dated June 11, 2025, it intends on making an assignment into bankruptcy pursuant to the Bankruptcy and Insolvency Act (Canada) (the “BIA”).

    After careful consideration of all available alternatives, including undertaking a strategic review which was unsuccessful in identifying a suitable acquirer or commercial partner or raising sufficient capital, as well as further to the Company having received a notice of default under its bridge financing offer entered into with certain bridge lenders, the board of directors of the Company has determined that it was in the best interest of the Company and its stakeholders to make an assignment into bankruptcy under the BIA as soon as reasonably practicable. The Company expects that Raymond Chabot Inc., a licensed insolvency trustee, will be appointed as the trustee under the BIA proceedings.

    In connection with the BIA proceedings, each member of the board of directors of the Company will resign effective upon the assignment under the BIA.

    As was disclosed in its June 11, 2025 press release, the Company does not expect to resume active operations and cautions investors that there is significant risk that holders of our securities will receive little to no value under the BIA proceedings.

    Further announcements regarding the status of the Company’s BIA proceedings will be made as developments warrant. Additional information with respect to the BIA proceedings will be available in due course on Raymond Chabot Inc.’s website.

    The Company expects that its common shares and warrants trading on the Nasdaq will be halted as a result of the BIA proceedings. The Company anticipates that it will ultimately be delisted from the Nasdaq.

    About LeddarTech

    A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off- road vehicle ADAS solutions.

    LeddarTech is responsible for several remote-sensing innovations, with over 190 patent applications (112 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

    Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

    Forward-Looking Statements

    Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws). Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Forward-looking statements in this press release include, without limitation, statements regarding the issuance of cease trade orders, the BIA proceedings, and the potential for shareholder value recovery. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties, including the risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Chris Stewart, Chief Financial Officer, LeddarTech Holdings Inc.
    Tel.: + 1-514-427-0858, chris.stewart@leddartech.com

    Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

    LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

    The MIL Network

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for June 17, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on June 17, 2025.

    In view of Trump’s review of AUKUS, should Australia cancel the subs deal? We asked 5 experts
    Source: The Conversation (Au and NZ) – By David Andrews, Senior Manager, Policy & Engagement, Australian National University Speculation is swirling around the future of the A$368 billion AUKUS agreement, following Washington’s decision to review the nuclear submarine deal to ensure it meets President Donald Trump’s “America first” agenda. Prime Minister Anthony Albanese was planning

    Australians in the bush want tougher penalties on crime. Here’s why – and what’s needed now
    Source: The Conversation (Au and NZ) – By Caitlin Davey, Lecturer of Criminology, Griffith University New research has found that while Australians generally support strong punishments, people living in the bush are significantly more likely than city dwellers to want to punish more harshly those who break the law. It means Australians living in rural

    Judy Davis gives a singularly vivid performance in The Spare Room – but the play falls short
    Source: The Conversation (Au and NZ) – By Moya Costello, Adjunct Lecturer in Creative Writing, Southern Cross University Brett Boardman/Belvoir In The Spare Room, Judy Davis lights up the stage with a singularly vivid performance. Adapted by Eamon Flack from Helen Garner’s 2008 novel of the same name, Davis plays sharp-tongued Helen (or Hel) to

    US travel ban on Pacific 3 – countries have right to decide over borders, Peters says
    RNZ Pacific New Zealand’s Foreign Minister Winston Peters says countries have the right to choose who enters their borders in response to reports that the Trump administration is planning to impose travel restrictions on three dozen nations, including three in the Pacific. But opposition Labour’s deputy leader Carmel Sepuloni says the foreign minister should push

    Attack on Iran’s state media – Israel bombs IRIB building in new war crime
    Pacific Media Watch Israel targeted one of the buildings of the state-run Islamic Republic of Iran Broadcasting (IRIB) in Tehran on the fourth day of attacks on Iran, interrupting a live news broadcast, reports Press TV. The attack, involving at least four bombs, struck the central building housing IRIB’s news department, while a live news

    What is ‘cognitive shuffling’ and does it really help you get to sleep? Two sleep scientists explain
    Source: The Conversation (Au and NZ) – By Melinda Jackson, Associate Professor at Turner Institute for Brain and Mental Health, School of Psychological Sciences, Monash University Ursula Ferrara/Shutterstock If you’ve been on social media lately – perhaps scrolling in the middle of the night, when you know you shouldn’t but you just can’t sleep –

    New research shows Australians see influencers as major sources of misinformation
    Source: The Conversation (Au and NZ) – By Sora Park, Professor of Communication, News & Media Research Centre, University of Canberra As consumption of traditional news continues to fall, audiences are turning to social media personalities and influencers for their information. These figures are increasingly shaping public debates. But Australian news audiences are sceptical. More

    Why does my phone sometimes not ring when people call? A communications expert explains
    Source: The Conversation (Au and NZ) – By Jairo Gutierrez, Professor, Department of Computer and Information Sciences, Auckland University of Technology Tada Images There’s a certain feeling I get in the pit of my stomach when I’m waiting for an important call to come through. You know the type – maybe a call from your

    Wetland restoration is seen as sunk cost – but new research shows why it should be considered an investment
    Source: The Conversation (Au and NZ) – By Wei Yang, Senior Scientist in Environmental Economics, Te Kunenga ki Pūrehuroa – Massey University Shutterstock/Wirestock Creators As extreme weather intensifies globally, governments are seeking nature-based solutions that deliver both climate and economic benefits. The restoration of wetlands is an often overlooked opportunity. As our recent study shows,

    Jaws at 50: a cinematic masterpiece – and an incredible piece of propaganda
    Source: The Conversation (Au and NZ) – By Colin Alexander, Senior Lecturer in Political Communications, Nottingham Trent University Jaws turns 50 on June 20. Last year, Quentin Tarantino called Stephen Spielberg’s film “possibly the greatest movie ever made”. Though he was quick to add that it isn’t the best film in terms of script, cinematography

    Ancient termite poo reveals 120 million-year-old secrets of Australia’s polar forests
    Source: The Conversation (Au and NZ) – By Alistair Evans, Professor, School of Biological Sciences, Monash University Witsawat.S/Shutterstock Imagine a lush forest with tree-ferns, their trunks capped by ribbon-like fronds. Conifers tower overhead, bearing triangular leaves almost sharp enough to pierce skin. Flowering plants are both small and rare. You’re standing in what is now

    When new dads struggle, their kids’ health can suffer. Tackling mental distress early can help
    Source: The Conversation (Au and NZ) – By Delyse Hutchinson, Associate Professor, Clinical Psychologist, and NHMRC Leadership Fellow, SEED Centre for Lifespan Research, School of Psychology, Deakin University D-BASE/Getty In Australia, an estimated one in ten men experience mental health issues such as anxiety and depression before and after their child is born (the perinatal

    A weird group of boronias puzzled botanists for decades. Now we’ve solved the pollination mystery
    Source: The Conversation (Au and NZ) – By Douglas Hilton, Chief Executive, CSIRO Andy Young Boronias, known for their showy flowers and strong scent, are a quintessential part of the Australian bush. They led Traditional Owners to the best water sources and inspired Australian children’s author and illustrator May Gibbs to pen one of her

    Some students learning English can take at least 6 years to catch up to their peers. How can we support them better?
    Source: The Conversation (Au and NZ) – By Lucy Lu, Adjunct Senior Lecturer, Faculty of Education and Social Work, University of Sydney Rawpixel/ Getty Images About one quarter of Australian school students are learning English as an additional language or dialect. This means their first language or dialect is something other than English and they

    Ice Age shelter high up in the Blue Mountains reveals Aboriginal heritage from 20,000 years ago
    Source: The Conversation (Au and NZ) – By Erin Wilkins, Aboriginal Cultural Educator, Trainer and Facilitator, Indigenous Knowledge Artist’s impression of Dargan Shelter as it would have looked during the last Ice Age. Painting by Leanne Watson Redpath Travel back 20,000 years into the last Ice Age, to a time when the upper reaches of

    ‘Be brave’ warning to nations against deepsea mining from UNOC
    By Laura Bergamo in Nice, France The UN Ocean Conference (UNOC) concluded today with significant progress made towards the ratification of the High Seas Treaty and a strong statement on a new plastics treaty signed by 95 governments. Once ratified, it will be the only legal tool that can create protected areas in international waters,

    Samoan fashion designer fatally shot at Salt Lake City ‘no kings’ protest
    RNZ Pacific A renowned Samoan fashion designer was fatally shot at the “No Kings” protest in Salt Lake City on Saturday, the Salt Lake City Police Department (SLCPD) has confirmed. Arthur Folasa Ah Loo, known as Afa Ah Loo, an “innocent bystander” at the protest, died despite efforts by paramedics to save his life, police

    Israelis ‘now realise’ what Palestinians and Lebanese have been suffering, says analyst
    Asia Pacific Report A Paris-based military and political analyst, Elijah Magnier, says he believes the hostilities between Israel and Iran will only get worse, but that Israeli support for the war may wane if the destruction continues. “I think it’s going to continue escalating because we are just in the first days of the war

    What is uranium enrichment and how is it used for nuclear bombs? A scientist explains
    Source: The Conversation (Au and NZ) – By Kaitlin Cook, DECRA Fellow, Department of Nuclear Physics and Accelerator Applications, Australian National University Uranium ore. RHJPhtotos/Shutterstock Late last week, Israel targeted three of Iran’s key nuclear facilities – Natanz, Isfahan and Fordow, killing several Iranian nuclear scientists. The facilities are heavily fortified and largely underground, and

    Issa Amro: Youth Against Settlements – ‘life is very hard, the Israeli soldiers act like militia’
    RNZ News Palestinian advocate Issa Amro has been nominated for the Nobel Peace Prize this year for his decades of work advocating for peaceful resistance against Israel’s illegal settlements in the occupied West Bank. The settlements are illegal under international law — and a record 45 were established last year under cover of the war

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: US stocks rebound as investors brush off Middle East tensions

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

    U.S. stocks ended higher on Monday, recovering from Friday’s sharp losses as investors’ concerns over ongoing hostilities between Israel and Iran eased somehow.

    Escalation of conflicts between Iran and Israel had briefly rattled markets — oil prices surged, the Cboe Volatility Index (VIX) spiked, and gold prices rose as investors sought safe havens. However, Monday’s action suggested confidence remained intact. High-yield credit spreads widened by just 2 basis points.

    The Dow Jones Industrial Average rose 317.30 points, or 0.75 percent, to 42,515.09. The S&P 500 added 56.14 points, or 0.94 percent, to 6,033.11. The Nasdaq Composite Index increased by 294.39 points, or 1.52 percent, to 19,701.21.

    Seven of the 11 primary S&P 500 sectors ended in green, with communication services and technology leading the gainers by adding 1.53 percent and 1.52 percent, respectively. Meanwhile, utilities and health led the laggards by losing 0.50 percent and 0.40 percent, respectively.

    Market history supports the idea that geopolitical shocks are often short-lived in their market impact. According to Deutsche Bank analysts Parag Thatte and Binky Chadha, the S&P 500 typically drops around 6 percent in the three weeks following a geopolitical event, but usually recovers those losses in the next three weeks.

    Deutsche Bank’s Henry Allen added in a Monday note that geopolitical events tend to have lasting effects on equities only when they disrupt the real economy, either by slowing growth or driving inflation. So far, investors seem to be betting that neither scenario is likely in the near term.

    Despite lingering geopolitical concerns, historically low equity positioning and resilient fundamentals may be keeping a broader sell-off at bay, allowing risk appetite to return for now. “Focus will remain on geopolitical headlines, but as long as the conflict stays limited between Israel and Iran, it’s unlikely to materially impact the markets,” said Tom Essaye at the Sevens Report.

    Tesla rose more than 1 percent on Monday, while Meta Platforms climbed 2.9 percent, helping power the broader market. Palantir, often seen as a beneficiary of rising geopolitical instability due to its defense and AI ties, rose near 3 percent.

    The rising move comes ahead of a key week for monetary policy. Investors digested a weaker-than-expected manufacturing survey released Monday morning by the New York Fed, adding to signs of slowing momentum in the industrial sector. Still, the data did little to shift expectations ahead of the Federal Reserve’s interest rate decision on Wednesday.

    According to CME Group’s FedWatch Tool, futures markets are pricing in a 100 percent chance that the Fed will hold rates steady, despite renewed pressure from U.S. President Donald Trump, who has called on Fed Chair Jerome Powell to cut interest rates.

    However, elevated oil prices stemming from the conflict in the Middle East are expected to keep inflation risks on the Fed’s radar and reduce the likelihood of rate cuts in the near term. “Markets got a reminder that tariffs aren’t the only potential source of market volatility,” said Chris Larkin at E*Trade from Morgan Stanley. “Right now, markets are signaling they expect the situation in the Middle East will remain contained, but any surprises could have an oversized impact on sentiment.”

    MIL OSI China News

  • MIL-OSI Australia: Don’t risk Dutton on TAFE

    Source: Reserve Bank of Australia

    15 April 2025

    The 2025 Federal Election will set the path for many aspects of the lives of TAFE students, teachers and educators, but none more pressing than the future of TAFE.

    We have seen landmark improvements to the sector since Anthony Albanese’s Labor government took office. TAFE once again holds its rightful place as the pre-eminent provider of vocational education in Australia. TAFE as a public institution must be supported and fully funded by state, territory and federal governments.

    In the three years since the election of the Albanese government, significant elements of the AEU’s Rebuild with TAFE campaign have been realised:

    • Major new sources of guaranteed funding for TAFE have been delivered realising that at least 70 per cent of total government vocational education funding is allocated to TAFE.

    • The contestable funding model that had marketised vocational education funding for more than a decade is being dismantled.

    • The mammoth task of restoring and investing in the TAFE workforce has begun with new workers employed across Australia and VET Workforce Blueprint projects underway.

    • Hundreds of thousands of students now have access to TAFE because of Free TAFE, many of whom would have been excluded from vocational education due to cost.

    • TAFE is once again recognised as the anchor of the vocational education system.

    • The creation of TAFE Centres of Excellence has recognised the outstanding quality of vocational education provided through TAFE and creates a mechanism for this to be coordinated and shared across Australia.

    • In a further recognition of the quality of TAFE, pilot programs are underway to empower TAFE to self-accredit qualifications at AQF level 5 and above.

    • TAFE workers are more central to decision making about government policy and actively involved.

    • Thousands of TAFE workers have security of employment through industrial relations reform and legislation restricting the indiscriminate use of fixed-term employment.

    • New collective bargaining laws have ensured that TAFE workers in several jurisdictions are the beneficiaries of long-overdue salary increases that have begun to address the imbalance between income and the cost of living.

    • The AEU has been elevated to a primary role as the voice of teachers and educators in TAFE, with critical roles on major new government bodies charged with setting policy and implementing change in vocational education, including Jobs and Skills Australia and the 10 Jobs and Skills Councils.

    The importance of the next government

    We have seen strong support in Parliament from the Australian Greens and members of the crossbench for Free TAFE and for progressive policies. But there’s more to be achieved, especially in terms of staff retention and attraction, boosting infrastructure funding, facilities and resources, and strengthening student support, and to achieve this and ensure that all the gains are not dismantled, the next federal government is key.

    Labor wants to legislate Free TAFE, recognising the value of TAFE and cementing its long-term future. Hundreds of thousands of people in Australia are enrolling in Free TAFE, they are getting the flexibility they need to study, work and raise families without a financial penalty.

    Already, Free TAFE has had a disproportionately positive impact for priority cohorts such as Aboriginal People and Torres Strait Islander People, women, people with disability, young people and those from low socio-economic backgrounds.

    Impact and reach of Free TAFE

    Data provided by the Department of Employment and Workplace Relations to the Senate inquiry indicates that more than 568,000 students have so far enrolled in Free TAFE courses, and many of these enrolments have been in national priority industry areas.

    In 2023:

    • Aboriginal Students and Torres Strait Islander Students represented 6.7 per cent of students in Free TAFE compared with 3.5 per cent in the wider VET sector.

    • Students with disability were 7.6 per cent compared with 3.8 per cent.

    • Women were 61.8 per cent compared with 46.2 per cent.

    • Regional and remote students were 35.9 per cent compared with 26.8 per cent.

    This demonstrates that Free TAFE is assisting those that need it most.

    Beyond just these cohorts, Free TAFE programs have also enabled many parents and older Australians to re-enter the workforce, or to make a change in their careers towards an in-demand area.

    Risks of a Coalition government

    Peter Dutton has threatened to end Free TAFE if he’s elected prime minister.

    The Coalition cut $3 billion from TAFE last time they were in government and almost 10,000 jobs were lost. When the current Liberal deputy leader Sussan Ley says: “TAFE is just the state-government-run trainer, just like public schools. The Liberal Party believes that you do not value something unless you pay for it” and Liberal MP Luke Howarth says: “We’ve said we won’t do Free TAFE, that’s another $1.5bn saved”, the same cuts are again expected.

    Dutton has not yet announced any policy but is already hinting at sending more federal funds to private RTOs rather than public TAFE. Australia cannot risk the Coalition getting in and stopping its investment in TAFE like they did last time they were in government.

    Also at risk is the suite of industrial reforms won under the Albanese government, which has seen swathes of the TAFE and AMEP workforce transitioned from contract to permanent positions, sector wage increases, allowed multi-employer bargaining, the right to disconnect from work after hours and strengthening workers’ rights across the board. The Coalition has already spoken of dismantling these worker-centred gains in favour of big business.

    Dutton has spent the last three years attacking and undermining teachers. He wants to spend $330 billion on nuclear power stations while investing nothing in building and upgrading public schools and public TAFE.

    TAFE needs a government that supports public education.


    Party Platform Comparisons

    ALP

    Climate action
    Supports:
    • Paris Climate Agreement
    • Net zero emissions by 2050
    • Just Transition to a clean energy
    Actions:
    • Has enshrined into law an emissions cut target of 43 per cent by 2030
    • A carbon cap for the biggest emitters
    • Legislated a Net Zero Authority
    • Restored the role of the Climate Change Authority (CCA)

    Aboriginal People and Torres Strait Islander People
    • Considering pathways to self-determination
    • Supports the states that want to work towards Treaty
    • Believes in community consultation

    Workplace Relations
    • Worker-friendly, inclusive of unions
    • Stronger worker protections
    • Introduced permanency for many workers, stronger protections for casuals, multi-employer bargaining, the right to disconnect
    • Delivered wage increases to ECEC workers
    • Supportive of the Fair Work Commission

    Schools
    • Fully funding public schools
    • Addressing teacher shortages and engaging with AEU
    • Addressing Aboriginal Teacher and Torres Strait Islander Teacher representation and engaging with Community experts

    TAFE
    • Supports Free TAFE and making it permanent
    • Centres TAFE as the anchor of vocational education in Australia
    • Supports Rebuilding TAFE and the TAFE workforce
    • Ongoing rollout of TAFE Centres of Excellence
    • Plans to establish a National TAFE Network to foster cross-country collaboration and innovation

    Early Childhood Education and Care (ECEC)
    • Three day guarantee – a childcare subsidy for three days a week to all families earning up to $530,000 a year from January 2026
    • Scrapped the activity test
    • $1 billion Building Early Education Fund, which is the next step in creating a universal Early Childhood Education and Care system in Australia
    • 15 per cent pay rises for ECEC teacher and educator wages


    COALITION

    Workplace Relations
    • Unwind Labor’s industrial relations changes
    • Revert to a simple definition of a casual worker
    • Revoke the laws which provide for multi-employer bargaining
    • Remove the “right to disconnect”
    • Curtail unions in workplaces

    Schools
    • Believes government should continue to overfund private schools and that the federal government should only fund private schools
    • Says “children taught the basics – reading, writing and maths – through explicit instruction across our primary education system – and ensuring classrooms are places of education, not indoctrination”, which is the same coded language the Trump government used before banning books and threatening teachers in the USA
    • Has failed to declare their commitment to fully fund public schools

    TAFE
    • Opposes Free TAFE Bill and Free TAFE as a whole

    ECEC
    • Opposes scrapping the activity test

    Climate action
    Against climate action, instead:
    • Make our nation a mining powerhouse
    • Defund the Environmental Defenders Office
    • Slash resource approval timeframes in half
    • Stop the renewable energy roll-out, ramp-up domestic gas production and move to nuclear energy

    Aboriginal People and Torres Strait Islander People
    Against self-determination and Truth-telling, instead choosing punitive responses:
    • A full audit into spending on Aboriginal programs and Torres Strait Islander programs
    • Reintroduce the Cashless Debit Card
    • Bolster law and order in crime-heavy communities
    • A Royal Commission into Sexual Abuse in Indigenous Communities


    GREENS

    TAFE
    • Increase access and opportunity for people with disability and remove barriers to tertiary education for people with disability
    • Abolish all student debt, including HELP, SFSS, and VET, starting 1 July 2025

    ECEC
    • Fix the current broken system
    • Extend free preschool for three-year-olds to at least 15 hours a week

    Climate action
    • No new coal or gas
    • Protect precious water resources
    • Expand publicly owned renewable energy
    • End the billions in handouts to coal, oil and gas corporations
    • End native forest logging
    • Save koalas and wildlife from extinction
    • Create thousands of jobs during renewable transition

    Aboriginal People and Torres Strait Islander People
    • Truth, Treaty, Justice for Aboriginal Peoples and Torres Strait Islander Peoples
    • Connect kids to Country by funding school-based programs guided by Elders to learn about culture, language, and Country as a means of holistic healing and growth
    • Support language revival and bilingual instruction in schools

    Workplace Relations
    • Defend workers’ rights, lift wages

    Schools
    Make public schools free and fully funded:
    • Fully fund all public schools to 100% of the Schooling Resource Standard (SRS)
    • Ensure sustainable funding by indexing public school funding to the higher of the Wage Price Index, Consumer Price Index, or SRS indexation factor
    • Restore $5 billion to the system by closing Morrison-era loopholes
    • Abolish public school fees and charges with an additional allocation of $2.4 billion over the forward estimates
    • Establish a new capital grants fund for public schools to invest in capital works of $1.25 billion in its first year, and then $350 million annually
    • Develop a National Inclusive Education Transition Plan in collaboration with people with disability, families, unions and experts
    • $800 ‘back to school’ payments to parents

    Article by Correna Haythorpe, AEU Federal President
    Originally published in The Australian TAFE Teacher, Autumn 2025

    MIL OSI News

  • MIL-OSI Australia: Early childhood firmly on the national agenda

    Source: Reserve Bank of Australia

    15 April 2025

    Early childhood education and care (ECEC) wages have substantially improved under the Albanese government. Governments in three states are rolling out three- and four-year-old preschool programs and the introduction of multi-employer bargaining has revolutionised industrial relations.

    These advances represent essential first steps to support children, teachers, educators and the sector as a whole. The AEU is addressing unsustainable workloads, further enhancing remuneration and conditions, and securing ongoing federal funding.

    Cara Nightingale, Chair, AEU federal early childhood committee

    Historic victory

    There have been many positive changes in the ECEC sector. The 15 per cent wage increase for early childhood teachers and educators in one of Australia’s lowest paid sectors is a historic victory after many years of seeking wage justice for this feminised and undervalued workforce.

    The pay rise goes some way towards achieving wage justice, but we’ll continue campaigning for the full 25 per cent we believe these underpaid workers need and deserve.

    Industrial changes have also had a big impact on the sector. The Albanese government’s Secure Jobs, Better Pay reforms include multi-employer bargaining, which has enabled us, for the first time, to bring employers to the table to bargain on behalf of members. It’s a very important win for members.

    There is more to be done, however, on convincing the government to extend its promise to fund the wage increases for two years. An ongoing funding commitment is crucial to support sustainable wage levels into the future.

    For example, we need to see this pay increase rolled out to the entire early childhood workforce. It currently applies to just the employers who have signed on to a Multi-Employer Agreement (MEA), covering some 30,000 teachers and educators. Employers who haven’t signed the MEA instead use Individual Flexibility Arrangements (IFAs) that don’t offer protection for members.

    An MEA, a union bargaining agreement, provides protections and accountability measures that an IFA simply doesn’t. We’re finding high levels of non-compliance in IFAs. Plus, an employer can give 13 weeks’ notice to end the IFA, leaving workers at risk of returning to basic award rates.

    Professional pay is a non-negotiable issue to recognise the importance of the work. However, members are telling us it’s just one piece of the puzzle. The second piece is addressing the crippling workload that’s associated with the job. Plus, we need funding to support new teachers and educators to thrive with professional development and mentors to help improve retention at a time of severe workforce shortage.

    An overhaul of the funding system for early childhood and care is overdue to ensure appropriate levels of support and resources for vulnerable children and those with a disability or additional needs. Extra funding to build new centres in rural, regional and remote areas is also required to alleviate early childhood and care deserts.

    The federal government must also prioritise universal access to quality preschool delivered by qualified teachers and educators for three- and four-year-olds across the country, a move already made by state governments in South Australia, Victoria and New South Wales.

    The government’s Commonwealth Prac Payment for students undertaking mandatory placements, which will begin in July this year, will provide valuable financial assistance for students as they do their practicum placements.

    The government is also providing scholarships for teaching students and Fee-Free TAFE courses.

    Overall, the early childhood and care sector has seen substantial progress during the term of the Albanese government but there’s more to be done to build on those gains.

    Georgie Dent, CEO, The Parenthood

    Welcome changes

    Over the past few years, early childhood education and care has been elevated as key to educational, social and economic policy.

    One of the reasons for that shift is that we elected a federal government in May 2022, which said this policy mattered to it.

    We have seen increased understanding of the importance of ECEC in the development and wellbeing of children, in addition to the economic reform it provides by enabling parents, particularly mums, to participate in the workforce.

    Growing support for women’s rights and gender equity have also helped propel the issue.

    There is a gender component to this because we know that when families can’t access or afford early childhood education and care, it tends to be women’s employment, their financial security and their safety that can be undermined.

    The 15 per cent wage rise for teachers and educators also represents a win for women, who dominate the early childhood education and care workforce. They have been significantly underpaid compared to similar jobs with similar levels of qualification. Having that identified and rectified has had a substantial effect on teachers and educators and on their ability to achieve financial security. Having better paid teachers and educators is crucial to the quality of early education and care and to luring back some of the many who have left the sector in recent years.

    We would like to see a commitment of access to at least three days a week of high quality, inclusive, early education and care – free for lower income families and a low-set fee for others – to every child in Australia.

    Part of that means recognising the parts of the country where there is no provision of services. We need an investment and policy response to ensure that families who live in childcare deserts can access the early learning and care that their children need.

    We want to see proper funding to ensure inclusion. Around one in 20 children using early education and care are accessing the inclusion support program, whereas in primary schools, around one in five children have an identified need for additional support. There are too many children and families being turned away from services because they’re not adequately funded.

    MIL OSI News

  • MIL-OSI Australia: Classroom creativity inspires

    Source: Reserve Bank of Australia

    12 May 2025

    Challenging classrooms are producing fresh ideas as the new school year gets underway for the four teachers we will follow throughout 2025.


    Lilly Maynard

    Year 5–6 teacher, Ulverstone Primary School, Tasmania

    Year 5–6 teacher
    Ulverstone Primary School, Tasmania

    For Lilly Maynard, now in her second year as a graduate teacher at Ulverstone Primary School on Tasmania’s northwest coast, additional funding would be transformative.

    Teaching a Year 5 to 6 class, Maynard says the school’s resources, particularly in technology, fall short of meeting student needs.

    “We have one device for every two to three students,” she says. “I’d love to see one-to-one devices because, by the time they reach Year 5 or 6, many students still don’t know basic technology skills like saving a document or changing fonts.”

    To bridge this gap, Maynard and other Year 5 and 6 teachers are rolling out a new technology unit in 2025 to cover foundational skills for Microsoft Word, Teams and Canva.

    Funding impacts more than technology. She reflects on the benefits of having extra teacher aides in the classroom.

    “Last year, I had a Year 6 student who struggled academically. With the limited aide time we had, we focused on intensive small-group work, going back to sentence structure and the elements of narrative writing,” she says.

    “Having more support would mean not only helping those who are struggling but also extending students who are ready to be challenged.”

    A legacy of safety

    Maynard was inspired to teach by her kindergarten teacher, whom she describes as creating a caring and safe presence for students: “I’ve always wanted to be that person for others.”

    This aspiration now shapes her classroom priorities, in which building resilience and fostering a safe learning environment are central. “We do a lot of social and emotional learning activities, teaching students how to handle conflicts or deal with challenges,” she says. “It’s amazing to watch them start resolving small issues on their own.”

    A one-year part-time paid teaching internship, which she completed in the last year of her university studies, helped her segue into teaching.

    Learning on Sea Country

    Maynard’s school’s connection to its local environment is a highlight. Late last year, about one third of Ulverstone’s 380 students participated in the education department’s Sea Country program, which integrates Palawa perspectives into learning.

    “We did pre-teaching activities about what Sea Country means and, on the excursion, it was incredible to see students reflecting on the land’s historical and cultural significance.”

    This year, Maynard aims to continue refining her skills and exploring innovative assessment techniques. “I want to build on my trials of formative assessments like exit tickets I had success with last year.”

    “My goal as a teacher is to nurture curiosity, foster creativity, and instil a lifelong love of learning.”

    With additional funding, Maynard says these aspirations could become a reality for every student in her class.12 May 2025

    Challenging classrooms are producing fresh ideas as the new school year gets underway for the four teachers we will follow throughout 2025.


    Bry Knife

    English teacher, Mabel Park State High School, Logan, QLD

    Homeschool to high school

    Bry Knife’s teaching career reflects education’s evolving landscape, where personal experience and advocacy play vital roles in meeting the diverse needs of today’s classrooms.

    Knife’s school days were outside of the mainstream experience. The child of a missionary and pastor, Knife was home-schooled in Ethiopia from Years 3 to 10.

    “Because I didn’t have a traditional education, I feel I can relate to the diversity of students at my school,” says Knife.

    Studying at his own speed through homeschooling taught them that “everyone works at their own pace”. For Knife, that means embracing organisational strategies such as using a bullet journal and medication to manage ADHD.

    Knife identifies as a non-binary, trans-masculine teacher. He prefers to use a combination of pronouns – he/him and they/them – to reflect his identity and experience of gender.

    At university, Knife found themself “figuring out that I was queer in a very conservative space”. He completed an accelerated liberal arts bachelor’s and teaching master’s degrees in four-and-a-half years. After graduating, Knife was guaranteed permanency through the Teacher Education Centre of Excellence Program.

    Embracing diversity

    This year marks Knife’s fifth as a teacher. He joined Mabel Park High just over two years ago. The school has almost 1800 students and can be “complex”, says Knife, particularly with behaviour management issues. In 2025, Knife expects to continue teaching English to students in Years 7 to 12.

    “My identity wasn’t as supported early in my teaching career,” Knife says. “Now, I’m much more myself. I’m supported and even celebrated, such as on Wear It Purple Day. I can project a steadiness to my students, who won’t feel safe or comfortable if the adult in the room is anxious and jittery.”

    Knife credits the Queensland Teachers’ Union with the support provided to facilitate their transfer. Knife now holds multiple union roles, including QTU activist and Pride Committee member, and has helped advocate for solutions to address the teacher shortage.

    “Offering permanency is no longer an incentive because the shortage makes that easy to get,” Knife says.

    Bridging gaps

    Proper funding for resources remains a major challenge, particularly as Mabel Park High works to “close the digital divide”.

    “There are Year 7 students at my school who don’t know how to use computers, research on the internet, or type up an assessment. As we roll out a bring-your-own device program, we’re finding that many parents can’t afford computers and don’t have one at home. More funding would bridge that gap,” he says.


    Lottie Smith

    Year 7–10 teacher, Centre of Deaf Education, Adelaide, SA

    Lottie Smith still feels pride over a student’s achievement in her first year of teaching.

    The Year 8 student, who is deaf and has an intellectual disability, won the speech contest on the theme “black, loud and proud” during Aboriginal and Torres Strait Islander Reconciliation Week.

    Smith, who teaches a Year 7 to 10 class at Avenues College in Adelaide, thought of the student as soon as she heard about the contest.

    “I sat with him and broke down the question, and we worked out a speech in sign language and practised it,” she says.

    “On the day, I stood in front of him holding big cue cards. He used sign language, and an interpreter voiced his words.”

    Smith grows emotional recalling the moment: “He did this in front of the Aboriginal Youth Commissioner, a panel of Elders, and young people. His competitors, the other contestants, used a microphone.”

    Support that’s needed

    The achievement highlights Smith’s dedication and one-on-one coaching. She teaches four other students who are deaf or hard of hearing and have complex additional needs such as autism or intellectual disabilities. Smith works with the support of one Student Learning Support Officer (SLSO).

    “Extra funding would mean more support staff,” she says. “One-on-one support is critical for meeting the needs of our complex student cohort.”

    Smith also believes in upskilling SLSOs, who often work closely with the students with the highest needs. “SLSOs have limited access to professional training, and that needs to change,” she says.

    Out-of-pocket costs

    Smith is grateful for a partial subsidy she received to pursue Certificates II and III in Auslan, a prerequisite for her master’s degree in teaching hearing-impaired students. However, the financial burden of further qualifications has been significant.

    “The government offers a scholarship for one unit per semester of the Auslan course, which means doing it part-time,” she says. “But I studied my master’s full-time alongside Auslan, so I was automatically out-of-pocket by a few thousand dollars, but only just found out I could have applied for a scholarship.”

    The lack of funding support is unfair and unethical, says Smith.

    “I went out of my way to gain these qualifications, adding to my HECS debt for a hard-to-fill role,” she says.

    Last year Smith was awarded SA Early Career Educator of the Year 2024 on World Teachers Day in recognition of her work with Australian Association of Teachers of the Deaf (SA).

    Smith says developing her students’ Auslan and English language skills drives her.

    “I look forward to continuing celebrating my students’ small wins that contribute to their confidence, skills and independence.”


    Amelia Evans

    Physical education and science teacher, University of Canberra High School Kaleen, ACT

    The opportunity to take on leadership roles and make a positive community impact drew ACT teacher Amelia Evans into teaching.

    Recalling her school days, the sixth-generation teacher says: “I didn’t always love school, but I enjoyed the positive relationships I had with my PE teachers, making school a bit more fun every day.”

    After Year 12, Evans completed a year in the Royal Australian Navy, “squirrelling away my pay” before starting her teaching degree.

    Despite juggling multiple jobs, she finished her degree in three years instead of four, without a scholarship.

    Inclusive PE

    Now in her third year of high-school physical education teaching at the University of Canberra High School Kaleen, Evans faces ongoing challenges.

    “In each class, I have 30 young people with diverse abilities and needs, but we’re all working towards the same goal: ensuring everyone can succeed,” she says.

    For example, last year, she adapted PE lessons so a blind student who loves to run could participate.

    “We’d go out onto the oval and play ‘tips’. I got a whole class set of little bells for the other students to wear, so she knows they’re about to try to tag her.”

    Funding wish list

    Evans says more funding would improve equipment, facilities, and accessibility for schools like hers.

    “Some of the gear only lasts a term. Things get thrown on the roof, then you put a fragile badminton racket in the hands of a 13-year-old who’s never used one before – one will break every couple of lessons.”

    Boosting funding would also mean “extra hands to create tasks to help students who need differentiated learning”.

    Limited facilities remain a problem, too.

    “Our school ovals aren’t good enough for PE, so we use the public ovals 500 metres away, which takes more of our teaching time,” she says.

    Wet weather brings further challenges, with up to six PE classes crammed into a gym designed for two.

    Despite these hurdles, Evans’ dedication hasn’t gone unnoticed. She was nominated for an ACT teaching award last year for co-founding a Year 8 and 9 girls’ empowerment group. About 20 students attend twice-weekly sessions, which include lunch, music, and resilience-building activities.

    “A parent has twice run workshops on saying ‘no’ – what to do if you’re approached in the street – and how to walk and look tougher than you feel,” Evans says.

    Last year, she co-ordinated the transition of Year 6 students into high school. Additionally, she is studying a Certificate IV in mental health at her own expense to upskill in wellbeing support.

    “It will help me have an input in decision-making for the benefit of all students and staff. I want to help lead my school in a positive direction,” Evans says.


    By Margaret Paton

    This article was originally published in the Australian Educator, Autumn 2024

    MIL OSI News

  • MIL-OSI Australia: Paid to learn

    Source: Reserve Bank of Australia

    12 May 2025

    The Skills Shortage and the Teaching Gap

    The skills shortage gripping Australia’s workforce is a vicious cycle. Vocational education is essential to train workers to fill these gaps, but there’s also a shortage of qualified TAFE teachers – who are struggling under high workloads to meet this essential demand.

    To close that skills gap, and avoid losing current staff to burnout, the VET sector desperately needs more industry-qualified teachers. But like other Australian employers, TAFE must hire from the same limited pool of skilled tradespeople and professionals.

    From Industry to the Classroom

    Ten years ago, trade-qualified carpenter Steve Cole turned down a TAFE teaching job because “business was booming” and he had contract commitments. At the time, Cole was keen to share his 30 years’ knowledge of the construction industry, but as the boss of a busy company he felt he couldn’t walk away.

    Still, teaching stayed in Cole’s mind.
    “I was training people on-the-job and I felt that there were things that I had to give,” he says. Looking ahead to the final act of his career, he liked the idea of “a full circle back to where I started. I had fond memories of TAFE in the ’70s studying carpentry and construction”.

    Teaching is an intellectually challenging job that offers great work/life/family balance without the physical demands of industry labour.
    “I know as a 62-year-old electrician that I wouldn’t be up crawling around in roofs or out digging ditches,” says Phil Chadwick, NSW Teachers Federation TAFE lead organiser.

    Enter: Paid to Learn

    To lure mid-career and senior professionals such as Cole, “TAFE NSW had to be a little bit creative in the way that they recruited teachers to encourage people to get off the tools [and] pick up the whiteboard marker,” Chadwick says,

    It developed a program that’s unique to NSW: Paid to Learn.

    Learning to Teach

    There are three prerequisites to become a VET teacher: a nationally recognised qualification in the discipline in which you want to teach, between three and five years of industry experience, and a Certificate IV in Training and Assessment (TAE).

    “One of the bigger barriers in attracting tradespeople and professionals out of the jobs that they do is gaining that minimum teaching qualification, the TAE Cert IV,” Chadwick says.

    While the TAE course is fee-exempt under the Free TAFE joint government initiative, it still demands six months of full-time study, or 12 months part-time. To a busy professional, that’s a long time without their usual income.

    Even juggling part-time coursework with an industry job is tough, as worksite demands compete with the routine and discipline of study. “I wouldn’t advise that,” says Cole.

    Early in 2024, he was browsing the ‘I Work for NSW’ public-sector jobs website when he spotted a Paid to Learn carpentry teaching job at Meadowbank TAFE. For Cole, the chief attraction was financial: “I’ve still got bills to pay, a mortgage to pay, and I could learn on the job and be paid a reasonable salary instead of closing my business, having no income and doing it that way.”

    Paid to Learn allowed Cole to start working at Meadowbank straight away – with full teaching salary, plus superannuation, leave and other benefits – while refreshing his 11-year-old TAE qualification through an intensive course of 14 weeks.

    “Basically from day one, they’re in the classroom teaching,” Chadwick says. TAFE students benefit from their new teachers’ industry currency, as effectively six weeks earlier, they were on the tools.

    To soften the impact of hitting the ground running, Paid to Learn also pairs trainee teachers with mentors and supervisors, whose tailored, wraparound support sets them up to succeed.

    “I think that’s invaluable,” Cole says now, a year into his new career. “The TAE teaching staff are extremely supportive if you allow them to support you.”

    How It Works

    “Most of our members that go into the program are employed as permanent full-time or temporary full-time employees,” Chadwick says. “It’s a bit like an apprenticeship or a traineeship, where a person starts the job and then they’re released from work to attend TAFE.”

    Cole spent three full days per week in TAE classes at Mt Druitt TAFE, then two days at Meadowbank, shadowing a more experienced teacher. Trade skills teaching has improved since his apprentice days. “It’s a lot more hands-on,” he reflects. “That hands-on approach, theory taught within practical, I think works well for the student cohort that we have.”

    Paid to Learn prioritises industries targeted by the NSW skills shortage list: trades such as electrical, carpentry, plumbing, automotive and engineering, and metal fabrication, plus in-demand fields such as community services, aged care and community health.

    “In our class, we had two electricians,” says Cole; “I’m a carpenter. We had two cabinetmaker-joiners and we had a fellow from aerospace who trains aeroplane mechanics and service technicians.”

    TAFE NSW uses Paid to Learn as an incentive to attract staff to campuses with the most acute needs. “[Teachers] can be recruited based on their trade or profession, but they can also be recruited to a specific location in the state, and that’s what sets the priority,” says Chadwick.

    The program was piloted from August to November 2022 in Western Sydney, which is in a construction and energy boom. “So that’s typically why there’s a lot of carpenters, electricians and plumbers in it,” Chadwick says. The next cohort of 47 new teachers start their jobs in March 2025.

    Putting Learning Into Practice

    The TAE Certificate IV can be academically demanding for trade-qualified professionals, especially if it’s been a while since they were in a classroom.

    Though Cole already knew his trade inside out, the TAE course handed him a different toolbox: “teaching methodology and classroom management, and building up effective relationships with the student cohort.”

    “[It was a] very steep learning curve for me,” Cole recalls, but he’s relished the challenge. “I learn something new every single day, and I learn things about myself.”

    He uses the term “reflective journey” – which he calls “a TAFE-ism” – to describe the introspective, analytical skills he honed during Paid to Learn. “I’ve certainly learned a lot about other people.”

    He was particularly impressed by his specialist TAE teacher, “and the lengths she went through to not cut corners at all, but to build our skills up to the level where we pass with confidence.” And he could immediately practise what he’d just learned: “That’s how I teach now, using her as an example.”

    He also bonded with the other trainee teachers in his class.

    “We’ve socialised since, got together for Christmas drinks and so forth, and talked about our experiences,” he says.

    Chadwick says Paid to Learn’s cohort-based approach boosts trainee teachers’ engagement in their studies, and their completion rates, compared to those undertaking the TAE alone.

    “The collaborative effort between the students helps each other,” he says.

    The Rewards

    Of 287 participants in Paid to Learn’s first year, 278 are still teaching – a 97 per cent retention rate.

    A full-time TAFE NSW teacher can earn $88,842 to $105,362, depending on their work history. Chadwick concedes industry pay can be higher, “but it’s not the money that they come for, it’s the conditions.”

    After an interim review of NSW’s VET system found only 48 per cent of TAFE NSW educators were employed permanently, “it’s a really big improvement that TAFE are taking these people on in secure jobs rather than in casual jobs,” Chadwick says.

    They’ll also benefit from the newly negotiated TAFE Commission of NSW Teachers and Related Employees enterprise agreement, which will boost the top salary to around $120,000 by 2027.

    Compared to teaching, “running your own business is quite an onerous task – a lot longer hours per week,” says Cole.

    Now his kids are adults, he’s happy to trade off the flexibility and control of self-employment for more relaxed work.

    Cole was also surprised by how much he appreciated the camaraderie of teaching.

    “I was the top dog in my business; that’s a little bit isolating in some ways, and now I’m working closely with people of equal standing within the TAFE hierarchy,” he says. “To feel like I am part of a team, for me, has been a real positive.”

    Chadwick says Paid to Learn “is not a magic bullet. On its own, it is not a solution. But it’s definitely a step in the right direction.”

    It represents a welcome investment in an education sector whose funding has been volatile and politicised.

    Cole, meanwhile, heartily recommends Paid to Learn to other NSW industry professionals contemplating a career change.

    “The rewards from teaching aren’t really talked about enough,” he enthuses.

    “The regard with which students hold us is something of an honour, really. We’re seen as mentors and people to be trusted, and guides. That’s a lovely position to be in. It makes me feel really good about myself.”

    Article by Mel Campbell

    This article was originally published in The Australian TAFE Teacher, Autumn 2025

    MIL OSI News

  • MIL-OSI Australia: Keeping the engines running

    Source: Reserve Bank of Australia

    20 May 2025

    TAFE NSW Ultimo in the heart of central Sydney delivers the state’s only Marine Mechanical Cert III alongside qualifications in marine engineering, in a purpose-built onsite marine craft construction education facility.
    The Ultimo campus, originally opened in 1891 as the new home of Sydney Technical College on the lands of the Gadigal People of the Eora Nation and represents New South Wales’ first government owned and built vocational education facility. Today its NSW’s largest TAFE campus consisting of heritage buildings from the 1890s with newer buildings built through the 20th century to support expanding educational offerings and the growing number of students. The campus encompasses structures including the former Technological Museum (1893), Turner Hall (1892) and Commercial High School (1892), and the separate George Street-located Marcus Clark Building (1913), which was acquired in 1966.It seems fitting that mechanics remains an important offering on campus, considering Sydney Technical College was initially established in 1878 as a partnership between the Sydney Mechanics’ School of Arts, the Trades and Labor Council of New South Wales, the Engineering Association of New South Wales Trades, and supported by government. When the government decided to fully fund the college in 1883, it became the birthplace of TAFE as we now know it – a statewide system of technical education. Today TAFE NSW continues its public vocational education mission. When visiting the Ultimo campus in February, NSW minister for Skills, TAFE and Tertiary Education Steve Whan said: “The maritime industry is crucial to our economy and TAFE NSW plays an important role in ensuring the next generation of seafarers and mechanics have the skills to succeed.”

    Navigating the Waves

    Simon Rodgers is acting head teacher, Mechanics at TAFE NSW Ultimo. He looks after marine mechanics, motorcycles and auto electrical and is the first marine mechanic to head the department. Rodgers has been teaching at TAFE NSW for 20 years and began his career as a marine mechanic apprentice, learning at TAFE NSW alongside automotive apprentices as the marine mechanic qualification wasn’t yet available. “I grew up on a farm, so we were just into motorcycles and boats and tractors and things like but when I started my apprenticeship, that’s when my formal training started,” he says. “When I was at school, I loved mechanics and a lot of my friends were getting into automotive and I saw that as there was so many people doing it that I didn’t want to do it, I wanted to do something unique and I was lucky enough to secure a marine apprenticeship.” “I started my apprenticeship as a marine mechanic in 1988 and worked with that company for just under 10 years. [Then] I had an opportunity to start my own business.” After 10 years running his business, one of his boating industry representatives mentioned a TAFE NSW teaching role and he decided to look into it and found it offered him the flexibility to spend more time with his young family. After 10 years running his business, one of his boating industry representatives mentioned a TAFE NSW teaching role and he decided to look into it and found it offered him the flexibility to spend more time with his young family. He went through the TAFE NSW teacher training program at the time, where he taught at TAFE on a reduced program and went to university to earn a BA in Adult Education: “Working in industry with your hands for 15–20 years and then having to go and sit in a classroom and write essays, it was very difficult, but what I have noticed is the teaching skill set that I gained through that process has benefited me.” He hasn’t looked back, discovering he truly loved being a TAFE teacher. “My philosophy is that I don’t try and drag them up to where I’m at with my experience is, I let them know that the only difference between the students and myself is time in the saddle,” he says. “So I like to get down to their level, interact with them and just teach them stuff. “Probably my best teacher was my stepfather and he always explained to me, it doesn’t matter how much you learn or whatever you do, if you don’t pass it on it gets lost. I’ve got to pass the baton on.”

    Passing the Baton

    Marine mechanics has been offered at Ultimo since 1997 when the marine specialist facility opened. “We get to concentrate on three main things in our qualification: engines, electrical and propulsion systems and we probably do more than most other disciplines around those three topics,” he says. “Our qualification is incredibly diverse. We’ve got specialist teachers that represent most of the industry – we all have unique skill sets and we program those skill sets around the subjects to best suit the apprentices.” “We’ve been able to restructure the course delivery in Stage Three to run two separate streams so that we can have the heavy diesel people concentrating on their discipline and the petrol people concentrating on theirs.” “You can engage any employer, any engine manufacturer and they really respect what we do at TAFE and how we train our apprentices.” “There are apprentices who have sat in our classroom who now work for engine manufacturers, we’ve had apprentices travel throughout Europe working on superyachts and many of the students that we’ve taught in the past are now running their own business and sending their own apprentices here.” “It’s a very family style of business, very generational, we’ve got one current employer who’s got his third child coming through.”

    Family Legacies

    That third child is the younger brother of Michaela Douglas who recently completed her Marine Mechanical Technology apprenticeship at TAFE NSW Ultimo last year, before winning the Boating Industry Association’s Apprentice of the Year award. “I am a third-generation qualified marine mechanic,” says Douglas. “I work for my family’s business Douglas Marine; and we’re based on Pittwater out of the Royal Prince Alfred Yacht Club. My grandparents started the company, then my dad and his brother worked in the business, and now me and my two brothers are in the business and my sister was also working in the office while she was at uni.” “The teachers, they’re great. If you put the effort in, they will put double the effort in, they really want to help you.” “They have really good facilities. They start in the morning teaching you the theory. And then you’d go into the workshop and actually pull apart whatever you’re learning about… and learn how to put them back together.”

    Lifelong Learning

    Following the completion of her Cert III, on the recommendation of her teacher Simon Rodgers, TAFE NSW nominated Douglas for Boating Industry Australia’s Apprentice of the Year award. She won both the NSW and Australia wide Apprentice of the Year. Now fully qualified, she’s loving her work, especially the variety it offers: “I enjoy explaining to someone why [what I’ve done is] important… it’s always different.” Douglas is now studying Automotive Electrical Technologies to support her marine mechanic work.

    Building and Sharing Knowledge

    TAFE NSW marine construction teacher Robert Reid is a shipwright by trade and has been teaching full time at Ultimo since 2018. “I kind of needed to share,” he says of his transition from industry to teaching. “Thinking back, as a kid sailing, I was kind of always instructing… and as a foreman at work, I was showing others how to do things.” Reid says TAFE is about more than technical instruction: “TAFE is about access, support, and being able to come in and learn all the [skills] and the mechanics behind the visual.”

    Nurturing Initiative

    “When things start to click for them, things they couldn’t do before… when they’ve brought in their own initiative.” “There’s close ties to industry… the apprentice’s bosses came through TAFE and they want the same skills demonstrated.” “We’ve been able to tie in Cert IV from this year, which is set up for fabrication and welding units and for bidding for contracts.”

    Smoother Sailing

    Maddison Webb-Leck, Certificate III in Marine Craft Construction Stage 1 Student of the Year, is a shipwright apprentice and Wiradjuri woman. She found her passion through hands-on TAFE learning and help from her uncles: “I watched [my boss] put a transom in and lay it up a bit and I was like, oh, this is kind of cool.” She especially enjoys fibre glassing and being on the water: “The guys are stronger in woodwork, but you put me in a glass room and I pretty much overtake them all,” she laughs.

    Putting in the work

    Webb-Leck says the approach of seeing and then doing at TAFE suits her style of learning: “I can’t just be told on how to do it. I have to watch it a bit and then I can replicate it.” She applies the same philosophy to her work: “There’s only the three of us at my work, so I have to do a lot of my own jobs. I’ll get shown how to do it and then I’m on that, as a small business we’ve got a lot of business to get through.” Webb-Leck’s work includes the gamut of repairs and building of marine craft, but her favourite part is glassing – working with fibreglass. “I do a lot of fibreglass work, so then when I come to TAFE, it’s a bit of a struggle because it’s all woodwork, but we do a lot of rebuild and repairs at work, so that helps me a lot. “The guys are stronger in woodwork, but you put me in a glass room and I pretty much overtake them all,” she laughs. It’s those skills and her work ethic that put her in contention for the Student of the Year award. “So many people in the class were like ‘you got it because you’re a girl’, but I’m good at what I do. I’ve come so far and I’m more trained than most people my age,” she says. “My folks, they’re actually really proud. Everyone’s really proud. It’s a lot of pressure on me, but it’s good to have pressure, because there’s been a few rough days and rough weeks where I’ve thought about leaving just because it’s rough but I pulled through. I start thinking about that and I’m just like, whoa, I’ve come this far, there’s so much riding on it. Those days where it gets really hard and your boss is angry at you, you’re angry at yourself and you kind of just have to go with it.” She says her love of being on the water also helps and reminds her of why she’s working so hard, but also of being a kid and constantly going up river with her dad. “I learned how to ski when I was four – dad grew up on the water, his mates grew up on the water, his dad grew up on the water,” she says. “Quiet weekends when you go out on the water with your mates and you have the whole water to yourself and we don’t stop skiing, it’s just fun.” Aside from playing netball, most of her hobbies, such as water-skiing, revolve around the water: “Power boat races are pretty cool to watch. We’ll go to Yarrawonga to watch them and then when they come back down to the Hawks, we’ll watch them again. There are a lot of different designed hulls and motors in there. It’s really fun – they’re one of the best weekends.” Between work, her apprenticeship, friends and family, she also continues to spend time with her dad on the water and looks forward to one day helping him race his boat. “My dad wants to race his boat. He’s got a car motor in it, but he’s always wanted to race it. So if he was to race that, I’d race that with him just for the fun of it, not for any competition, just see how quick we can go,” she says. “If we actually put work into it and do it, then yeah, maybe we can do it.”

    By Diana Ward

    This article was originally published in the Australian TAFE Teacher, Autumn 2025

    MIL OSI News

  • MIL-OSI USA: HARRISBURG – Shapiro Administration to Discuss Importance of SNAP in Feeding Pennsylvanians Amid Proposed Federal Funding Cuts

    Source: US State of Pennsylvania

    June 17, 2025Harrisburg, PA

    ADVISORY – HARRISBURG – Shapiro Administration to Discuss Importance of SNAP in Feeding Pennsylvanians Amid Proposed Federal Funding Cuts

    The Pennsylvania Departments of Human Services (DHS) and Agriculture, alongside local charitable food partners, will discuss proposed federal changes to the Supplemental Nutrition Assistance Program (SNAP) and the importance of this program in helping nearly two million Pennsylvanians buy groceries and feed their families.

    SNAP is a 100% federally funded program that helps Pennsylvanians afford food, lowers health care costs in the Medicaid program, supports farmers and the agricultural economy, and offsets strain on the charitable food network. SNAP benefits bring in approximately $365 million each month to Pennsylvania’s economy, and any potential SNAP changes or cuts would lead to fewer resources for those who need the most help.

    WHO:
    DHS Secretary Dr. Val Arkoosh
    Agriculture Secretary Russell Redding
    Central PA Food Bank President Shila Ulrich
    Feeding PA CEO Julie Bancroft
    Senator Patty Kim

    WHEN:
    Tuesday, June 17, 2025, at 11:00 AM

    WHERE:
    Central Pennsylvania Food Bank
    3908 Corey Road
    Harrisburg, PA 17109

    MEDIA RSVP:
    Press interested in attending must RSVP with the name of photographer/reporter to ra-pwdhspressoffice@pa.gov

    MIL OSI USA News

  • MIL-OSI Banking: Revamping Fiscal Decentralization to Secure Peru’s Position as a Leading Critical Mineral Exporter: Peru

    Source: International Monetary Fund

    Summary

    Peru’s mining wealth holds the promise to substantially accelerate potential growth. However, many mining projects have been stalled for several years due to conflicts with local communities that feel excluded from the benefits. Although local governments receive nearly 2 percent of GDP in natural resource revenues per year and comprise over 40 percent of public investment, poor execution and institutional challenges limit their impact. To secure the country’s future as a critical mineral exporter, Peru needs to amend its fiscal decentralization framework to ensure that mining dividends translate into greater development for all citizens. Efforts should focus on improving the distribution of resource-based revenues, replacing discretionary transfers with rule-based transfers, strengthening central government oversight, and increasing capacity and coordination at the subnational level to support public investment efficiency.

    Subject: Budget planning and preparation, Capital spending, Economic sectors, Environment, Expenditure, Expenditure efficiency, Fiscal federalism, Fiscal policy, Mining sector, Natural resources, Public financial management (PFM), Public investment spending, Revenue administration

    Keywords: Budget planning and preparation, Capital spending, Copper, Decentralization, Expenditure efficiency, Fiscal federalism, Intergovernmental transfers, Mining sector, Natural resources, Natural resources, Non-renewable resources, Public investment, Public investment spending

    MIL OSI Global Banks

  • MIL-OSI Banking: IPAA Comments to Interior on Regulatory Issues Impacting Onshore and Offshore Producers

    Source: Independent Petroleum Association of America

    Headline: IPAA Comments to Interior on Regulatory Issues Impacting Onshore and Offshore Producers

    IPAA Comments to Interior on Regulatory Issues Impacting Onshore and Offshore Producers

    Although there are a variety of important issues facing independent producers on offshore and onshore federal lands, IPAA wants to raise three specific issues the Trump Administration is working on that are of vital importance to our members. These issues are outlined below:

    1. Revising the Risk Management and Financial Assurance Rule for OCS Lease and Grant Obligations

    2. Rescission of the Conservation and Landscape Health Rule

    3. Permitting Reform

    MIL OSI Global Banks

  • MIL-OSI Banking: In Depth Comments for the 11th National OCS Oil and Gas Leasing Program

    Source: Independent Petroleum Association of America

    Headline: In Depth Comments for the 11th National OCS Oil and Gas Leasing Program

    In Depth Comments for the 11th National OCS Oil and Gas Leasing Program

    The Independent Petroleum Association of America (IPAA), American Petroleum Institute (API), National Ocean Industries Association (NOIA), Offshore Operators Committee (OOC), U.S. Oil and Gas Association (USOGA), American Exploration & Production Council (AXPC), International Association of Drilling Contractors (IADC), EnerGeo Alliance, Energy Workforce and Technology Council, and the Louisiana Mid-Continent Oil and Gas Association (LMOGA) (collectively, the Associations), offer the following comments on the Bureau of Ocean Energy Management’s (BOEM) request for information and comments on the preparation of the 11th National Outer Continental Shelf (OCS) Oil and Gas Leasing Program (National Program) published in the Federal Register on April 30, 2025.

    MIL OSI Global Banks

  • MIL-OSI: Home BancShares, Inc. Announces Second Quarter Earnings Release Date and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    CONWAY, Ark., June 16, 2025 (GLOBE NEWSWIRE) — Home BancShares, Inc. (NYSE: HOMB), parent company of Centennial Bank, today announced it expects to release Second Quarter 2025 earnings after the market closes on July 16, 2025. Following this release, management will conduct a conference call to review these earnings at 1:00 p.m. CT (2:00 p.m. ET) on Thursday, July 17, 2025.

    We strongly encourage all participants to pre-register for the conference call webcast or the live call using one of the following links. First, participants can pre-register for the conference call webcast using the following link: https://events.q4inc.com/attendee/133918928. Participants who pre-register will be given a unique webcast link to gain immediate access to the conference call webcast. Second, participants can pre-register for the live call using the following link: https://www.netroadshow.com/events/login?show=862a0326&confId=84106. Participants who pre-register will be given the phone number and unique access codes to gain immediate access to the live call. Participants may pre-register now, or at any time prior to the call, and will immediately receive simple instructions via email. The Home BancShares conference call will also be scheduled as an event in your Outlook calendar.

    Those without internet access or unable to pre-register may dial in and listen to the live call by calling 1-833-470-1428, Passcode: 171523. A replay of the call will be available by calling 1-866-813-9403, Passcode: 539251, which will be available until July 24, 2025, at 11:59 p.m. CT. Internet access to the call will be available live or in recorded version on the Company’s website at www.homebancshares.com.

    Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has branch locations in Arkansas, Florida, South Alabama, Texas and New York City, with branches in Texas operating as Happy State Bank, a division of Centennial Bank. The Company’s common stock is traded through the New York Stock Exchange under the symbol “HOMB.”

    FOR MORE INFORMATION CONTACT:

    Home BancShares, Inc.
    Donna Townsell
    Senior Executive Vice President &
    Director of Investor Relations
    (501) 328-4625
    Ticker symbol: HOMB

    The MIL Network

  • MIL-OSI: Home BancShares, Inc. Announces Second Quarter Earnings Release Date and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    CONWAY, Ark., June 16, 2025 (GLOBE NEWSWIRE) — Home BancShares, Inc. (NYSE: HOMB), parent company of Centennial Bank, today announced it expects to release Second Quarter 2025 earnings after the market closes on July 16, 2025. Following this release, management will conduct a conference call to review these earnings at 1:00 p.m. CT (2:00 p.m. ET) on Thursday, July 17, 2025.

    We strongly encourage all participants to pre-register for the conference call webcast or the live call using one of the following links. First, participants can pre-register for the conference call webcast using the following link: https://events.q4inc.com/attendee/133918928. Participants who pre-register will be given a unique webcast link to gain immediate access to the conference call webcast. Second, participants can pre-register for the live call using the following link: https://www.netroadshow.com/events/login?show=862a0326&confId=84106. Participants who pre-register will be given the phone number and unique access codes to gain immediate access to the live call. Participants may pre-register now, or at any time prior to the call, and will immediately receive simple instructions via email. The Home BancShares conference call will also be scheduled as an event in your Outlook calendar.

    Those without internet access or unable to pre-register may dial in and listen to the live call by calling 1-833-470-1428, Passcode: 171523. A replay of the call will be available by calling 1-866-813-9403, Passcode: 539251, which will be available until July 24, 2025, at 11:59 p.m. CT. Internet access to the call will be available live or in recorded version on the Company’s website at www.homebancshares.com.

    Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has branch locations in Arkansas, Florida, South Alabama, Texas and New York City, with branches in Texas operating as Happy State Bank, a division of Centennial Bank. The Company’s common stock is traded through the New York Stock Exchange under the symbol “HOMB.”

    FOR MORE INFORMATION CONTACT:

    Home BancShares, Inc.
    Donna Townsell
    Senior Executive Vice President &
    Director of Investor Relations
    (501) 328-4625
    Ticker symbol: HOMB

    The MIL Network

  • MIL-OSI USA: Press Release: Federal Bank Regulatory Agencies Seek Comment to Address Payments and Check Fraud

    Source: US Federal Deposit Insurance Corporation FDIC

    CategoriesBusiness, Commerce, MIL-OSI, United States Federal Government, United States Government, United States of America, US Commerce, US Federal Deposit Insurance Corporation FDIC, US Federal Government, US Insurance Sector, USA

    The federal bank regulatory agencies today announced a request for comment on potential actions to help consumers, businesses, and financial institutions mitigate risk of payments fraud, with a particular focus on check fraud. For purposes of the request for information, payments fraud generally refers to the use of illegal means to make or receive payments for personal gain, including scams.

    Because payments fraud may involve multiple institutions and payment methods, no single agency or private-sector entity can address payments fraud on its own. Therefore, the agencies are seeking public comment on discrete actions, collectively or independently, to mitigate payments fraud, including check fraud, within their respective bank regulation and payments authorities.

    Input is requested on five potential areas for improvement and collaboration:

    • External collaboration among the agencies, Federal Reserve Banks, and industry stakeholders;
    • Consumer, business, and industry education by the agencies and Federal Reserve Banks to educate about payments fraud;
    • Regulation and supervision to mitigate payments fraud, including opportunities the Board may have related to check fraud;
    • Payments fraud data collection and information sharing; and
    • Federal Reserve Banks’ operator tools and services to reduce payments fraud.

    In addition to seeking public input, the agencies will also continue looking for additional opportunities to effectively collaborate across other state and federal agencies given the importance of interagency coordination to help mitigate payments fraud.

    Comments must be received within 90 days after date of publication in the Federal Register.

    ATTACHMENT:

    # # #

    MEDIA CONTACTS: 

    FDIC: Julianne Breitbeil, (202) 898-6895

    FRB: Laura Benedict, (202) 452-2955

    OCC: Andrea Cox, (202) 649-6870

    MIL OSI USA News

  • MIL-OSI USA: Hagerty Reintroduces Legislation to Ban Sanctuary Cities From Receiving Federal Subsidies

    US Senate News:

    Source: United States Senator for Tennessee Bill Hagerty

    Representative Ralph Norman is leading the effort in the U.S. House of Representatives

    WASHINGTON—Last week, United States Senator Bill Hagerty (R-TN), a member of the Senate Banking Committee, reintroduced the No Community Development Block Grants for Sanctuary Cities Act, legislation to amend the Housing and Community Development Act of 1974 to prevent sanctuary cities from receiving federal subsidies. Representative Ralph Norman (R-SC-05) has introduced companion legislation in the U.S. House of Representatives.

    “Cities that encourage illegal immigration shouldn’t be rewarded with federal housing subsidies,” said Senator Hagerty. “The Trump administration has made it clear that illegal immigration will not be tolerated anywhere in the United States, and cities that defy American sovereignty will face the consequences. I’m pleased to reintroduce this legislation that prevents taxpayer dollars from flowing to sanctuary cities that refuse to enforce the law.”

    “It’s simple: if you’re going to ignore federal immigration law, don’t expect to get a dime of federal tax dollars,” said Congressman Norman. “Sanctuary cities are putting politics over public safety, and that’s unacceptable. This bill makes clear that cities choosing to harbor illegal immigrants at the expense of public safety will no longer receive taxpayer money.”

    Full text of the No Community Development Block Grants for Sanctuary Cities Act can be found here.

    MIL OSI USA News

  • MIL-OSI: Nasdaq Announces Results from 2025 Annual Meeting of Shareholders

    Source: GlobeNewswire (MIL-OSI)

    All 12 Nominated Directors Elected

    Nasdaq Board Re-elects Adena T. Friedman as Chair of the Board

    NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ) shareholders elected all nominated directors at the company’s Annual Meeting of Shareholders on Wednesday, June 11, 2025. All directors will serve one-year terms. The elected board members are:

    • Melissa M. Arnoldi, EVP and General Manager for Business Solutions, AT&T Inc.
    • Charlene T. Begley, Retired SVP and CIO, General Electric Company
    • Adena T. Friedman, Chair and CEO, Nasdaq
    • Essa Kazim, Governor, Dubai International Financial Centre
    • Thomas A. Kloet, Retired CEO and Executive Director, TMX Group Limited
    • Kathryn A. Koch, President and CEO, The TCW Group, Inc.
    • Holden Spaht, Managing Partner, Thoma Bravo
    • Michael R. Splinter, Retired Chairman and CEO, Applied Materials, Inc.
    • Johan Torgeby, President and CEO, Skandinaviska Enskilda Banken (SEB)
    • Toni Townes-Whitley, CEO, Science Applications International Corp. (SAIC)
    • Jeffery W. Yabuki, Chairman and CEO, InvestCloud; Chairman and Founding Partner, Motive Partners
    • Alfred W. Zollar, Former Executive Partner, Siris Capital Group, LLC

    The Nasdaq Board of Directors also re-elected Adena T. Friedman as Chair of the Board for a one-year term.

    In addition, Nasdaq shareholders approved the following proposals:

    • The company’s executive compensation on an advisory basis;
    • Ratification of the appointment of Ernst & Young LLP as Nasdaq’s independent registered public accounting firm for the fiscal year ending December 31, 2025; and
    • An amendment to Nasdaq’s Amended and Restated Certificate of Incorporation to allow for the limited exculpation of officers of Nasdaq.

    For additional information on Nasdaq’s corporate governance, please visit: https://ir.nasdaq.com/corporate-governance/nasdaq-inc/board-of-directors.

    About Nasdaq:

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Nasdaq Media Contact:

    Nick Jannuzzi
    +1.973.760.1741
    Nicholas.Jannuzzi@Nasdaq.com

    Investor Relations Contact:

    Ato Garrett
    +1.212.401.8737
    Ato.Garrett@Nasdaq.com

    -NDAQF-

    The MIL Network

  • MIL-OSI: Nasdaq Announces Results from 2025 Annual Meeting of Shareholders

    Source: GlobeNewswire (MIL-OSI)

    All 12 Nominated Directors Elected

    Nasdaq Board Re-elects Adena T. Friedman as Chair of the Board

    NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ) shareholders elected all nominated directors at the company’s Annual Meeting of Shareholders on Wednesday, June 11, 2025. All directors will serve one-year terms. The elected board members are:

    • Melissa M. Arnoldi, EVP and General Manager for Business Solutions, AT&T Inc.
    • Charlene T. Begley, Retired SVP and CIO, General Electric Company
    • Adena T. Friedman, Chair and CEO, Nasdaq
    • Essa Kazim, Governor, Dubai International Financial Centre
    • Thomas A. Kloet, Retired CEO and Executive Director, TMX Group Limited
    • Kathryn A. Koch, President and CEO, The TCW Group, Inc.
    • Holden Spaht, Managing Partner, Thoma Bravo
    • Michael R. Splinter, Retired Chairman and CEO, Applied Materials, Inc.
    • Johan Torgeby, President and CEO, Skandinaviska Enskilda Banken (SEB)
    • Toni Townes-Whitley, CEO, Science Applications International Corp. (SAIC)
    • Jeffery W. Yabuki, Chairman and CEO, InvestCloud; Chairman and Founding Partner, Motive Partners
    • Alfred W. Zollar, Former Executive Partner, Siris Capital Group, LLC

    The Nasdaq Board of Directors also re-elected Adena T. Friedman as Chair of the Board for a one-year term.

    In addition, Nasdaq shareholders approved the following proposals:

    • The company’s executive compensation on an advisory basis;
    • Ratification of the appointment of Ernst & Young LLP as Nasdaq’s independent registered public accounting firm for the fiscal year ending December 31, 2025; and
    • An amendment to Nasdaq’s Amended and Restated Certificate of Incorporation to allow for the limited exculpation of officers of Nasdaq.

    For additional information on Nasdaq’s corporate governance, please visit: https://ir.nasdaq.com/corporate-governance/nasdaq-inc/board-of-directors.

    About Nasdaq:

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Nasdaq Media Contact:

    Nick Jannuzzi
    +1.973.760.1741
    Nicholas.Jannuzzi@Nasdaq.com

    Investor Relations Contact:

    Ato Garrett
    +1.212.401.8737
    Ato.Garrett@Nasdaq.com

    -NDAQF-

    The MIL Network