NewzIntel.com

Category: Banking

  • MIL-OSI Economics: Secretary-General of ASEAN attends the AFMGM – ASEAN Business Advisory Council (ABAC) Meeting

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today attended the Meeting between the ASEAN Finance Ministers and Central Bank Governors (AFMGM) and the ASEAN Business Advisory Council (ABAC) in Kuala Lumpur, Malaysia. This interface exchanged views on how to advance the shared agenda on enhancing supply-chain competitiveness and sustainability.

    The post Secretary-General of ASEAN attends the AFMGM – ASEAN Business Advisory Council (ABAC) Meeting appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN attends the Eminent Persons Dialogue: ASEAN Financial Integration in a Multipolar World

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today attended the Eminent Persons Dialogue: ASEAN Financial Integration in a Multipolar World, held on the sidelines of the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting in Kuala Lumpur, Malaysia. The event brought together eminent persons from across the public and private sectors in the region to reflect on the success stories and challenges in advancing regional financial integration, to commemorate the 10th anniversary since the inception of the ASEAN Economic Community.

    The post Secretary-General of ASEAN attends the Eminent Persons Dialogue: ASEAN Financial Integration in a Multipolar World appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI: Major shareholder announcement – Danske Bank A/S

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no 17 2025 Danske Bank
    Bernstorffsgade 40
    DK-1577 København V
    Tel.+45 45 14 14 00

    9 April 2025

    Page 1 of 1

    Major shareholder announcement – Danske Bank A/S

    In accordance with section 31 of the Danish Capital Markets Act, we disclose that on 3 April 2025, Danske Bank held, through direct and indirect holdings, 43,146,297 voting rights attached to shares in Danske Bank A/S, corresponding to 5% of the voting rights of Danske Bank A/S.

    The holding of own shares is attributable mainly to the DKK 5.5 billion share buy-back programme, which was announced on 2 February 2024. The programme, which is described in detail in company announcement No. 2 of 2 February 2024, was completed on 3 February 2025 as set out in company announcement no. 5 2025.

    On 20 March 2025 the Annual General Meeting of Danske Bank A/S adopted the Board of Directors’ proposal to amend the Articles of Association regarding reduction of Danske Bank’s share capital by nominally DKK 271,894,960 by cancellation of part of Danske Bank’s holding of own shares. The reduction of share capital has subsequently been filed with the Danish Business Authority in accordance with the Danish Companies Act and is expected to be completed by the end of April 2025.

    Danske Bank

    Contact: Claus Ingar Jensen, Head of Group Investor Relations, tel. +45 25 42 43 70

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – The Karmala Urban Co-operative Bank Limited, Solapur – Withdrawal of Directions

    Source: Reserve Bank of India

    The Reserve Bank of India had issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Karmala Urban Co-operative Bank Ltd., Solapur vide Directive CO.DOS.SED No.S2729/12-07-005/2022-23 dated July 29, 2022 for a period of six months up to the close of business on January 29, 2023. The same were modified from time to time and were last extended up to the close of business on April 29, 2025.

    2. After reviewing the financial position of the bank, the Reserve Bank of India on being satisfied that in the public interest it is necessary to do so and in exercise of the powers vested in it under sub-section (2) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 hereby withdraws the Directions issued to The Karmala Urban Co-operative Bank Ltd., Solapur with effect from the close of business on April 09, 2025.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2025-2026/66

    MIL OSI Economics –

  • MIL-OSI Economics: Penal Interest on shortfall in CRR and SLR requirements-Change in Bank Rate

    Source: Reserve Bank of India

    RBI/2025-26/23
    DoR.RET.REC.16/12.01.001/2025-26

    April 09, 2025

    All banks,

    Madam / Sir,

    Penal Interest on shortfall in CRR and SLR requirements-Change in Bank Rate

    Please refer to Chapter VIII of Master Direction – Reserve Bank of India [Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)] Directions – 2021 as well as our circular DoR.RET.REC.57/12.01.001/2024-25 dated February 07, 2025 on the captioned subject.

    2. As announced in the Monetary Policy Statement 2025-26 dated April 09, 2025, the Bank Rate is revised downwards by 25 basis points from 6.50 per cent to 6.25 per cent with immediate effect. Accordingly, all penal interest rates on shortfall in CRR and SLR requirements, which are specifically linked to the Bank Rate, also stand revised as under:

    Penal Interest Rates which are linked to the Bank Rate

    Item Existing Rate Revised Rate
    (With immediate effect)
    Penal interest rates on shortfalls in reserve requirements (depending on duration of shortfall). Bank Rate plus 3.0 percentage points (9.50 per cent) or Bank Rate plus 5.0 percentage points (11.50 per cent). Bank Rate plus 3.0 percentage points (9.25 per cent) or Bank Rate plus 5.0 percentage points (11.25 per cent).

    Yours faithfully,

    (Latha Vishwanath)
    Chief General Manager

    MIL OSI Economics –

  • MIL-OSI China: Announcement on Open Market Operations No.67 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.67 [2025]

    (Open Market Operations Office, April 9, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB118.9 billion through quantity bidding at a fixed interest rate on April 9, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.50%

    RMB118.9 billion

    RMB118.9 billion

    Date of last update Nov. 29 2018

    2025年04月09日

    MIL OSI China News –

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

    Source: Reserve Bank of India

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

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

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

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

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

    Ajit Prasad           
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/64

    MIL OSI Economics –

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

    Source: Reserve Bank of India

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

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/65

    MIL OSI Economics –

  • MIL-OSI: StepStone Evergreen Funds Added to Bergos Private Markets Platform

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, Switzerland, April 09, 2025 (GLOBE NEWSWIRE) — StepStone Group Inc. (Nasdaq: STEP), a leading global private markets solutions provider, announced today that several of its private market evergreen funds are now accessible through Bergos AG, which manages CHF7.3 billion in assets on behalf of clients.

    StepStone funds now available at Bergos AG are:

    • StepStone Private Venture and Growth Fund (“SPRING Lux”) is a broadly diversified venture and growth strategy fund leveraging an open architecture approach, selecting managers across the innovation economy. As of February 28, 2025, SPRING Lux has $341.7M in AUM and has delivered a 59.92% total net return since inception in November of 2022.
    • StepStone Private Infrastructure Fund (“STRUCTURE Lux”) seeks to provide current income and long-term capital appreciation by offering investors access to a global investment portfolio of private infrastructure assets. As of February 28, 2025, STRUCTURE Lux has $79.9M in AUM and has delivered a 24.91% total net return since inception in September of 2023.
    • StepStone Private Credit Fund (“SCRED Lux”) offers a permanent private debt co-investment solution deploying various credit-related strategies across market cycles to generate both current income and long-term capital appreciation. As of January 30, 2025, SCRED Lux has $43.6M in AUM, leveraging a ‘multi-lender’ approach since inception in June of 2024.
    • StepStone Private Credit Europe ELTIF (“SCRED Europe”) is structured to offer investors access to a broadly diversified, European-focused private credit strategy, with a primary focus on senior secured direct lending. The fund has successfully launched with over €250 million in seed capital, backed by a robust pipeline of opportunities.

    “Investors have embraced our approach to accessing the private markets through StepStone’s evergreen platform, and we are excited to deliver this access to Bergos’ clients,” said Neil Menard, Partner and President of Distribution at StepStone. “Bergos aligns with our mission of providing investors access to institutional-quality private market investments around the globe, and we are proud to partner with an institution whose values reflect our own.”

    Earlier this year, StepStone launched SCRED Europe, a private credit fund available to EU-domiciled professional and retail investors1. SPRING Lux and STRUCTURE Lux were also recently converted from reserved alternative investment funds (RAIFs) to UCI Part II compliant structures, allowing professional investors and semi-professional investors greater access to the private markets, including private equity, infrastructure, and real estate.

    1 As defined under Directive 2014/65/EU. SCRED Europe is only available to professional and retail investors in those EEA Member States into which the manager of the fund has registered it for marketing. Further detail on the fund’s registration status is available from the manager on request. This press release is not and should not be understood to be an offer of securities in any fund mentioned herein.

    About StepStone

    StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of December 31, 2024, StepStone was responsible for approximately $698 billion of total capital, including $179 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.

    About Bergos

    Bergos AG is an independent Swiss Private Bank focusing on private wealth management. Bergos emerged in 2021 with a new shareholder base from its former mother company, the Berenberg Group founded in 1590, and has been serving international private clients and entrepreneurs in the Swiss financial center for over thirty years. Its headquarters are in Zurich with an office in Geneva. The Swiss Private Bank is dedicated to “Human Private Banking” and specializes in wealth management and advisory services. With more than 130 employees, the focus is on providing expert guidance in all known liquid asset classes, as well as in private markets and alternative investments. Following a “beyond money” approach, we also offer expertise in art collecting and philanthropy. For entrepreneurial clients, Bergos offers access to M&A and other corporate finance services. Bergos AG offers private clients, entrepreneurs and their families a holistic, cross-generational service that focuses on security, neutrality, internationality and openness to the world.

    BERGOS’ SERVICES ARE NOT MARKETED, SOLICITED OR OFFERED TO ANY PERSON RESIDENT OR ORGANISED INSIDE THE JURISDICTION OF UNITED STATES OF AMERICA AT ANY TIME. THEREFORE, BERGOS DOES NOT MARKET, SOLICIT OR OFFER STEPSTONE EVERGREEN FUNDS IN THE UNITED STATES OR TO US PERSONS.

    THIS DOCUMENT IS A MARKETING COMMUNICATION. PLEASE REFER TO THE OFFERING MEMORANDUM OF SPRING LUX, STRUCTURE LUX, SCRED LUX AND SCRED EUROPE (COLLECTIVELY, THE “FUNDS”) BEFORE MAKING ANY FINAL INVESTMENT DECISIONS.

    PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. ACTUAL PERFORMANCE MAY VARY.

    This document is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, or as an offer to provide advisory or other services by StepStone Group Private Wealth LLC (“SPW”), StepStone Group LP (“StepStone”), StepStone Group Europe Alternative Investments Limited (“SGEAIL”) or their subsidiaries or affiliates (collectively, the “Managers”) in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this document should not be construed as legal, financial or investment advice on any subject matter. The Managers expressly disclaim all liability in respect to actions taken based on any or all of the information in this document.

    Before investing you should carefully consider the Funds’ investment objectives, risks, charges and expenses. This and other information are explained in the relevant Offering Memorandum for each Fund, a copy of which may be obtained from SGEAIL upon request.

    Information contained herein is subject to change and amendment. An indication of interest in response to this advertisement will involve no obligation or commitment of any kind.

    Prospective investors should inform themselves and obtain appropriate advice as to any applicable legal or regulatory requirements and any applicable taxation and exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant to the suitability, subscription, purchase, holding, exchange, redemption or disposal of any investments.

    An investment involves a number of risks and there are conflicts of interest. Please refer to the risks outlined in detail in the relevant Offering Memorandum for each Fund.

    Marketing in the European Union

    The Funds are alternative investment funds (“AIFs”) for the purpose of Alternative Investment Fund Managers Directive (“AIFMD”). SGEAIL is the alternative investment fund manager (“AIFM”) of the Funds.

    The Funds that do not qualify as ELTIFs can be marketed to Professional Investors in the EEA in accordance with the requirements set out in Article 32 of AIFMD.

    Marketing of the Funds outside the EEA or in the EEA to investors other than Professional Investors (where relevant) must comply with applicable national private placement regimes. Those investors are required to inform themselves of any applicable local requirements or restrictions before investing in the Funds and to assess the impact of any risks they may be exposed to when investing in the Funds.

    Notice to all European Economic Area (EEA) residents

    In the EEA, this document is disseminated by SGEAIL.

    The Funds may only be offered or placed in an EEA Member State: (1) to Professional Investors to the extent that they have been registered for marketing in the relevant EEA Member State in accordance with Article 32 AIFMD (as amended and as implemented into the local law/regulation of the relevant EEA Member State); (2) to non-professional investors who meet the requirements of any national law/regulation which permits them to invest in AIFs, as specifically identified below; or (3) as they may otherwise be lawfully offered or placed in that EEA Member State, including at the exclusive initiative of an investor where permitted in accordance with the AIFMD.

    A list of the EEA Member States in which the Funds are registered for marketing under Article 32 AIFMD is available from the Managers upon request.

    Notice to investors in Austria

    Certain of the Funds have been notified to the Austrian Financial Market Authority (FMA) for marketing to professional investors (Professionelle Anleger) within the meaning of § 2 para 1 no 33 of the Austrian Alternative Investment Funds Act (Alternative Investmentfonds Manager-Gesetz; AIFMG) in accordance with Article 32 AIFMD and § 31 AIFMG. In the Republic of Austria, the relevant Funds may only be offered or placed and any offering or marketing materials related thereto may only be distributed to investors who are either (a) professional investors (Professionelle Anleger) as defined in § 2 para 1 no 33 AIFMG or where relevant (b) qualified retail investors (Qualifizierte Privatkunden) as defined in § 2 para 1 no 42 AIFMG. Distribution of the relevant Funds and any offering or marketing materials related thereto to retail investors (Privatkunden) as defined in § 2 para 1 no 36 AIFMG in the Republic of Austria is not permitted. Subscriptions by retail investors (Privatkunden) will therefore not be accepted. None of the Managers or the relevant Funds are subject to supervision by the FMA or any other Austrian authority. Neither the relevant Offering Memorandum, nor the relevant key information document (KID) have been reviewed by the FMA or any other Austrian authority.

    Notice to professional and semi-professional investors in Germany

    Certain of the Funds have been notified to the German Financial Services Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, or BAFIN) in accordance with Section 323 of the German investment code (Kapitalanlagegesetzbuch – KAGB).

    The relevant Funds may only be marketed and offered to professional and, where relevant to semi-professional investors in the Federal Republic of Germany, as defined in Section 1 (19) nos. 32 and 33 of the KAGB. The relevant Funds have not been admitted for marketing to retail investors within the meaning of Section 1 (19) no. 31 of the KAGB in Germany. Accordingly, the relevant Funds may not be offered and marketed to retail investors in Germany. This disclosure, the relevant Offering Memorandum and any other document relating to the relevant Funds, as well as information or statements contained therein, may not be supplied to retail investors in Germany or any other means of public marketing. Any resale of the relevant Funds in Germany may only be made to professional and semi-professional investors in Germany and in accordance with the provisions of the KAGB and any other applicable laws in Germany governing the sale and offering of the relevant Funds.

    Notice to investors in Italy

    Certain of the Funds have been passported with the Commissione Nazionale per le Società e la Borsa (CONSOB) for the marketing in Italy vis-à-vis professional investors in accordance with Article 32 AIFMD, article 43 of the Italian Legislative Decree of 24th February 1998, no. 58 (testo unico della finanza, the “TUF”) and relevant local implementing regulations in Italy. The relevant Funds may be distributed exclusively to the following categories of investors: (i) “professional investors” as defined in the AIFMD; or where relevant (ii) “non-professional investors” who: (1) invest at least EUR 500,000 in the relevant Fund; or (2) invest at least EUR 100,000 in the relevant Fund, and in the case of the latter, either: (a) the investment is made by a licensed portfolio manager on behalf of the non-professional investor; or (b) the investment is made by the non-professional investor in the context of the provision of investment advice, and is subject to the requirement that the entirety of any investments by that same non-professional investor in EU AIFs does not exceed ten percent (10%) of his or her financial portfolio as a result of a subscription or investment in the relevant Fund.

    Notice to investors in Switzerland

    The offer and the marketing of the Funds in Switzerland will be exclusively made to, and directed at, qualified investors (the “Qualified Investors”), as defined in Article 10(3) and (3ter) of the Swiss Collective Investment Schemes Act (“CISA”) and its implementing ordinance, at the exclusion of qualified investors with an opting-out pursuant to Article 5(1) of the Swiss Federal Law on Financial Services (“FinSA”) and without any portfolio management or advisory relationship with a financial intermediary pursuant to Article 10(3ter) CISA (“Excluded Qualified Investors”). Accordingly, the Funds have not been and will not be registered with the Swiss Financial Market Supervisory Authority (“FINMA”) and no representative or paying agent have been or will be appointed in Switzerland. This document and/or any other offering or marketing materials relating to The Funds may be made available in Switzerland solely to Qualified Investors, at the exclusion of Excluded Qualified Investors. The legal documents of the Funds may be obtained free of charge from the Managers.

    Notice to investors in the United Kingdom

    The Funds are alternative investment funds for the purpose of the Alternative Investment Fund Managers Regulations, 2013, as amended by the Alternative Investment Managers (Amendment, etc.) (EU Exit) Regulations 2019 (“UK AIFM Regulations”). SGEAIL is the alternative investment fund manager (“AIFM”) of the Funds. 

    The Funds have been registered for marketing under Regulation 59(1) of the UK AIFM Regulations. On that basis, the Funds may be marketed in the United Kingdom to UK persons who qualify as Professional Investors.

    Contacts

    Shareholder Relations:
    Seth Weiss
    shareholders@stepstonegroup.com
    +1 (212) 351-6106

    Media:
    Brian Ruby / Chris Gillick / Matt Lettiero, ICR
    StepStonePR@icrinc.com
    +1 (203) 682-8268

    The MIL Network –

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

    Source: ASEAN

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

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

    MIL OSI Economics –

  • MIL-OSI New Zealand: Release: Reserve Bank acts while Govt shrugs

    Source: New Zealand Labour Party

    Nicola Willis continues to sit on her hands amid a global economic crisis, leaving the Reserve Bank to act for New Zealanders who are worried about their jobs, mortgages, and KiwiSaver.

    “While the Reserve Bank is doing its job to cushion the blow of a global economic downturn, Nicola Willis continues to pretend like everything is fine,” Labour finance and economy spokesperson Barbara Edmonds said.

    “New Zealanders are rightfully nervous about their jobs, mortgages, and KiwiSaver right now, yet all they’re getting from their Government is ‘we’ve got this.’ That’s not a plan, that’s complacency.

    “Nicola Willis spent so much of her time in Opposition criticising the Reserve Bank, it’s ironic she’s now claiming their decisions as a win. If she wanted to show real leadership she would invest in jobs, health, and homes, and adapt when New Zealand’s economy needs it.

    “Her Government put New Zealand into the sharpest recession in 30 years, excluding COVID, helped along by decisions to stop public housing and infrastructure projects. That’s cost New Zealand 13,000 construction jobs. Now they’re sitting on their hands in the face of major economic headwinds.

    “Even worse, they’re not being honest with Kiwis about what a continued global slowdown could mean for the budget: more draconian cuts to public services. That means fewer jobs, worse healthcare, and more Kiwis without a home.

    “Now is the time we need to be investing in jobs, health, and homes to boost our economy and lift people up, especially as U.S. tariffs cause more turmoil. Rather than working to weather the storm, they’re pretending as if it is business as usual.

    “New Zealand needs a Government that steps up and adapts when the global system falters, not one that stands still,” Barbara Edmonds said.

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    MIL OSI New Zealand News –

  • MIL-Evening Report: Adam Bandt says the Greens can deliver ‘real change’ – but the party should choose its battles more wisely

    Source: The Conversation (Au and NZ) – By Kate Crowley, Adjunct Associate Professor, Public and Environmental Policy, University of Tasmania

    Federal Greens leader Adam Bandt says the federal election offers “an opportunity for real change”, saying his party would use the balance of power in the next parliament to help deliver serious policy reforms.

    In a speech to the National Press Club on Wednesday, Bandt outlined the party’s election priorities and said the poll represents:

    A once-in-a-generation chance to create a country where everyone has a right to the basics – food, health, and a home. A safe climate and a healthy environment. An economy which puts people before the profits of the obscenely wealthy and the excessively profitable.

    The Greens broke new ground at the last federal election, snatching three new lower house seats and winning the balance of power in the Senate. The gains suggested the Greens were moving beyond their roots as a party of protest, and becoming a true policy force.

    But the Greens broadly failed to make the most of its greater political presence this term. In the next parliament, it should focus on building political capital and picking its battles more wisely.

    Meagre parliamentary success this term

    As a traditional party of protest, the Greens have historically tended to stick firmly to the party’s policy agenda rather than make major concessions to the government of the day.

    However, as the new Labor government focused on delivering its mostly modest reform agenda this term, the Greens party was forced to negotiate on its demands, much as the Teals have done.

    The Greens helped Labor pass its signature climate change policy, the safeguard mechanism, which seeks to limit emissions from Australia’s most polluting companies. In return, Labor agreed to the Greens’ call for a hard cap on emissions under the scheme. But it refused to bow to Greens demands for a ban on new gas and coal projects, and limiting the use of carbon credits.

    The Greens were then tested by Labor’s housing agenda – specifically, two schemes to make buying or renting a home more affordable.

    The Greens’ initially teamed up with the Coalition to block the laws, arguing they would drive up housing prices and give tax breaks to property developers. The party’s opposition was at odds with public opinion, including most Greens voters.

    The party eventually waved the housing bills through in November last year without winning any concessions from Labor, and after burning much political capital.

    The chastened Greens helped pass a flurry of other legislation late in 2024, including Reserve Bank governance reforms and a supermarket code of conduct. In return, Labor offered Greens fairly piecemeal concessions, including more money for social housing electrification and a ban on fossil fuel subsidies under the Future Made in Australia scheme.

    The Greens also offered to help salvage Labor’s troubled proposal to reform Australia’s environmental protection laws. It shelved its calls for a “climate trigger” – which would force regulators to consider the potential climate damage of a proposal before it was approved. Instead, the Greens insisted only on stronger protections for native forests.

    However, Prime Minister Anthony Albanese intervened at the eleventh hour to scuttle the deal.

    All this suggests the Greens party is yet to strike the right balance between pursuing its own policy agenda and supporting Labor to the extent that a healthy working relationship is achieved. So far, it has gained only meagre concessions, and its policy grandstanding has not worked.

    Flare-ups outside parliament

    Scoring political points outside parliament can be easier for the Greens than influencing policy within it.

    Environmental conflict has always fuelled the Greens’ vote, and the party continues to campaign on issues such as protecting Tasmania’s native forests, opposing salmon farming and calling for a ban on new coal and gas projects.

    But outside parliament this term, the Greens have faced controversies that may hurt them at the ballot box.

    Greens senator Lidia Thorpe quit the party over its support for the Voice referendum, and Bandt copped criticism for allegedly failing to confront bullying claims against West Australian Greens senator Dorinda Cox.

    The Gaza conflict triggered significant ruptures between the Greens and the pro-Israel movement. There were also reports that a new Muslim political movement may siphon votes from the Greens and hurt them electorally.

    There is no ready formula, then, for the Greens to shore up – let alone expand – its vote outside parliament.

    What’s next for the Greens?

    The Guardian’s polls tracker suggests the Greens’ primary vote has increased since the 2022 election, from 12.3% to 14%.

    However, the party faces several tough political contests to retain or extend the gains it won in 2022. And its disappointing results at recent elections in Queensland and the Australian Capital Territory suggest the party has its work cut out.

    As ABC election analyst Antony Green has noted, Labor holds three seats with margins below 5% where the Greens have a chance. However, the Greens also hold seats on slim margins that Labor or another candidate could win.

    The Greens’ lower-house gains at the last election came in the inner-Brisbane seats of Ryan, Brisbane and Griffith. The Greens will have to fight hard to retain all three next month.

    The most recent polls suggest Labor will be returned by a narrow margin at the May 3 election – probably helped along by the return of United States’ President Donald Trump.

    On Wednesday Bandt said the Greens “are within reach of winning seats right across the country and, in the minority government, we can make things happen”.

    However, seven new Independents won lower house seats at the last election. Should that trend continue, and if Labor does need to form a minority government, the Greens may find themselves fighting for the balance of power on a crowded crossbench.

    Picking fights or delivering policy?

    If the Greens party wants to be seen as a serious political force, it must decide if its traditional political approach – hard-nosed policy opposition and picking political fights – is still the best strategy.

    Bandt’s mentor, former Greens leader Christine Milne, got results from minority pacts with both sides of politics. She believed the Greens’ role was to build political capital and then, when an opportunity such as minority government arose, to spend that capital on achieving significant policy outcomes.

    On Wednesday, Bandt indicated a willingness to work towards meaningful policy outcomes in the next parliament. He claimed the Greens were willing to compromise in the event of minority government, saying:

    we understand the need to cooperate and to come up with an arrangement that forms stable, effective and progressive government […] We will go into any discussions with goodwill and with [an] open mind.

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

    – ref. Adam Bandt says the Greens can deliver ‘real change’ – but the party should choose its battles more wisely – https://theconversation.com/adam-bandt-says-the-greens-can-deliver-real-change-but-the-party-should-choose-its-battles-more-wisely-253851

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI New Zealand: Economy – OCR: 3.5% – Further reduction in OCR appropriate – Reserve Bank

    Source: Reserve Bank of New Zealand

    9 April 2025 – The Monetary Policy Committee today agreed to reduce the Official Cash Rate by 25 basis points to 3.5 percent.

    Annual consumer price inflation remains near the mid-point of the Monetary Policy Committee’s 1 to 3 percent target band. Firms’ inflation expectations and core inflation are consistent with inflation remaining at target over the medium term.

    Economic activity in New Zealand has evolved largely as expected since the February Monetary Policy Statement. Higher-than-expected export prices and a lower exchange rate have supported primary sector incomes and overall economic growth. While monetary restraint has been removed at pace, household spending and residential investment have remained weak.

    The recently announced increases in global trade barriers weaken the outlook for global economic activity. On balance, these developments create downside risks to the outlook for economic activity and inflation in New Zealand.

    Having consumer price inflation close to the middle of its target band puts the Committee in the best position to respond to developments. As the extent and effect of tariff policies become clearer, the Committee has scope to lower the OCR further as appropriate. Future policy decisions will be determined by the outlook for inflationary pressure over the medium term.

    Read the full statement and Record of meeting: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=a3744a921f&e=f3c68946f8

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Economy Commentary – Tariff uncertainty keeps OCR ‘downward bias’ in place – CoreLogic’s Kelvin Davidson

    Source: CoreLogic – Commentary from Kelvin Davidson, Chief Property Economist at CoreLogic, soon to rebrand to Cotality

    As widely expected, the Reserve Bank’s Monetary Policy Committee (MPC) cut the official cash rate today by 0.25%, taking it to 3.5%. The decision reflected the fact that inflation remains well within the target band and that the economy is still subdued.
    Today’s release was an ‘interim’ Monetary Policy Review rather than a full Statement, which means we don’t get the updated economic forecasts and detailed analysis. But the MPC’s commentary today still took the time to discuss tariffs and possible effects.
    In a nutshell, uncertainty remains high, but the central view right now is that inflation effects are not clear-cut; a weaker NZ$ could raise imported inflation, but a diversion of goods away from the US and towards NZ by large global exporters could work in the opposite direction.
    Then in regard to NZ’s economic growth itself, the general tone of the commentary is that it’s likely to be slower than in a world without tariffs. As such, the MPC noted they have scope to lower the OCR further as appropriate and as the effects of tariffs become clearer.
    In other words, NZ’s interest rate environment still has a ‘downward bias’ and it’ll be interesting to see what happens to mortgage rates in the coming weeks. The next OCR decision is 28 May, and prior to that we’ll have had a bit more information in the form of Q1’s CPI data (17 April) and labour market figures (7 May).
    For the property market and mortgage borrowers, ‘uncertainty’ is also a buzzword. February’s Reserve Bank lending data shows that borrowers continue to hedge their bets, with floating debt still popular (41% of loans) but fixed terms of longer than 12 months also coming back into focus. At 20% of activity in February, fixes of greater than 12 months were the most popular they have been since July last year.
    For now, tariff-uncertainty aside, our expectation is a subdued upturn for the property market in 2025, with sales volumes and house prices rising slowly. For individual borrowers, it will mean finding a balance between securing the best/lowest mortgage rate but also weighing up the certainty that a longer-term fixed loan can offer.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Reserve Bank Announcements – Recruitment of new External Member to the Monetary Policy Committee

    Source: Reserve Bank of New Zealand

    9 April 2025 – A public appointment process has started for a new external member of the Reserve Bank of New Zealand’s Monetary Policy Committee (MPC) to replace Professor Bob Buckle when his term expires on 30 September 2025.

    Under its remit, the MPC is responsible for maintaining a stable general level of prices over the medium term.

    The MPC is made up of 4 internal RBNZ members and 3 external members. Monetary policy decisions, such as setting the Official Cash Rate, are made by the 7 members of the committee. This appointment process is to replace one of the external members; the Committee is also carrying one vacancy for an internal member which will be filled towards the end of the year.

    MPC appointments are made by the Minister of Finance, on the recommendation of the RBNZ Board.

    Board Chair Neil Quigley said that “suitably qualified candidates will be interviewed later this year and assessed against the appointment criteria, then the name of the candidate recommended by the Board will be provided to the Minister of Finance.”

    Applications will be assessed by the MPC Appointments Committee against various criteria including:

    expertise in monetary policy and macroeconomics (which may be demonstrated by research and/or professional practice)
    relevant professional knowledge, skills and experience in public policy and banking.  

    Applicants will require a strong understanding of conflicts of interest, the market sensitivity associated with monetary policy decisions, and the constraints on other activities that are necessarily associated with membership of the MPC.

    “The final appointment decision and timing is up to the Minister, but we anticipate an appointment to be announced by the end of September,” Professor Quigley said. The new MPC member is expected to officially begin their appointment on 1 October 2025.

    More information

    Application Pack External Member – Monetary Policy Committee (PDF, 158KB): https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=05041b903f&e=f3c68946f8
    More information about the Monetary Policy Committee: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=1af91dff21&e=f3c68946f8
    For further information on this appointment process contact: https://www.appointbetterboards.co.nz/contact-us/

    Length of appointments

    MPC members serve fixed terms:

    Internal members must be appointed for a term of up to 5 years and can be reappointed for 2 further terms as an internal member of up to 5 years each.
    External members must be appointed for a term of up to 4 years and can be reappointed for 1 further term as an external member of up to 4 years.

    Latest OCR decision: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=07ddc5e261&e=f3c68946f8

    MIL OSI New Zealand News –

  • MIL-OSI Economics: Money Market Operations as on April 08, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 6,55,461.23 6.10 3.50-6.40
         I. Call Money 14,970.37 6.15 5.15-6.25
         II. Triparty Repo 4,18,997.90 6.06 5.85-6.15
         III. Market Repo 2,19,925.71 6.17 3.50-6.35
         IV. Repo in Corporate Bond 1,567.25 6.37 6.35-6.40
    B. Term Segment      
         I. Notice Money** 117.00 6.05 5.60-6.10
         II. Term Money@@ 478.00 – 6.10-6.30
         III. Triparty Repo 4,124.00 6.13 6.00-6.15
         IV. Market Repo 1,249.24 6.20 6.20-6.20
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Tue, 08/04/2025 1 Wed, 09/04/2025 23,515.00 6.26
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Tue, 08/04/2025 1 Wed, 09/04/2025 385.00 6.50
    4. SDFΔ# Tue, 08/04/2025 1 Wed, 09/04/2025 1,63,624.00 6.00
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,39,724.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       6,859.01  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     6,859.01  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -1,32,864.99  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on April 08, 2025 9,42,962.22  
         (ii) Average daily cash reserve requirement for the fortnight ending April 18, 2025 9,31,571.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ April 08, 2025 23,515.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on March 21, 2025 1,11,247.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2024-2025/2082 dated February 05, 2025, Press Release No. 2024-2025/2138 dated February 12, 2025, and Press Release No. 2024-2025/2209 dated February 20, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/60

    MIL OSI Economics –

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

    Source: Asia Development Bank

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

    MIL OSI Economics –

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

    Source: China State Council Information Office

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

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

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

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

    Global turbulence 

    Major markets across the globe witnessed a turbulent day.

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

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

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

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

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

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

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

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

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

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

    Fear and fury 

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

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

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

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

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

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

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

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

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

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

    Doom and gloom 

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

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

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

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

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

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

    MIL OSI China News –

  • MIL-OSI New Zealand: Fatal crash, Horsham Downs + appeal for information

    Source: New Zealand Police (District News)

    Police can confirm one person died in hospital yesterday from injuries sustained in a crash at Horsham Downs last month.

    The single vehicle crash on Bankier Road was reported just before 7:20pm on Friday 28 March.

    Police investigations into the cause of the crash are ongoing, and we would like to hear from witnesses.

    In particular, we would like to speak with the driver of the pictured maroon-coloured SUV towing a boat that was travelling on Bankier Road at the time of the crash

    We believe they may be able to provide information to assist with our enquiries.

    If you are the driver of that vehicle, or witnessed the crash, please contact Police on 105, either over the phone or online.

    Please reference file number 250329/2196.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Government restraint offers hope to firms, farms, and families

    Source: ACT Party

    Responding to the Reserve Bank cutting the Official Cash Rate by 0.25 points, ACT Leader David Seymour says:

    “Spending restraint is paying off. The Reserve Bank has just delivered its fifth interest rate cut running, and households will start to see mortgage rates beginning with a four.

    “Firms, farms, and families will have more money left to pursue their own ambitions, and their spending will flow through the economy.

    “Households deserve credit for improving economic conditions. They reined in their budgets during a cost-of-living crisis.

    “Likewise, the Government has reined in its spending. Government spending growth is tracking at around 1% per annum – in real terms, that’s a spending cut once inflation at 2.2% and population growth at 1% are taken into account.

    “By resisting the temptation to spend our way through our challenges like Labour did, we leave space in the economy for further mortgage relief, and more growth in the private sector. We need to stay the course.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Finance and Banking – ASB lowers variable rates for personal, business and rural customers

    Source: ASB

    ASB is dropping variable interest rates across home lending, business and rural lending by 0.25%, following today’s decision by the Reserve Bank of New Zealand to reduce the Official Cash Rate (OCR).

    ASB’s Executive General Manager Personal Banking Adam Boyd says, “We expect our reduced variable rates will appeal to customers choosing to float their lending in part or full, as we see Kiwi considering their options carefully.”

    In response to the OCR decrease, ASB is lowering some of its savings products, including Savings On Call and Headstart, by 25 basis points.

    “We encourage customers relying on interest as a means of saving to look at all the options available to make their money work for them.”

     

     

    Home Loan* 

    Current Rates 

    New Rates 

    Rate Change 

    Housing Variable 

    6.89% 

    6.64%

    – 0.25% 

    Orbit Variable

    6.99% 

    6.74%

    – 0.25% 

    Back My Build 

    4.44% 

    4.19%

    – 0.25% 
    Note – Back My Build applications are no longer open to new customers.

    *These changes are effective from Friday 11th April 2025 for new lending customers, and Wednesday 16th April 2025 for existing lending customers.

     

    Business Loan*

    Current Rates 

    New Rates 

    Rate Change 

    Business and Rural Floating Base Rate

     

    5.19%

     

    4.94%

     

    – 0.25%

    Business Base Rate

    12.02% 

    11.77%

    – 0.25% 

    Rural Base Rate

    9.26% 

    9.01%

    – 0.25% 

    Corporate Indicator Rate

    6.43% 

    6.18%

    – 0.25% 

    Special Purpose Base Rate

    5.00%

    4.75%

    – 0.25%

    *These changes are effective from Thursday 17th April 2025 for both new and existing customers.

     

    Savings 

    Band 

    Current Rates 

    New Rates 

    Rate Change 

    Savings On Call & ASB Cash Fund*

    All Balances 

    1.15% 

    0.90% 

    – 0.25% 

    Savings Plus**

    No Bonus 

    0.70% 

    0.45% 

    – 0.25% 

    Partial Bonus

    0.80%

    0.55%

    – 0.25%

     

    Full Bonus

    3.15%

    2.90%

    – 0.25%

    Headstart*

    All Balances

    3.15%

    2.90%

    – 0.25% 

    *These changes are effective from Wednesday 16thApril 2025 for new and existing customers

    **Savings Plus changes were effective from Tuesday 1st April 2025 in line with the quarterly structure of the product

    ASB has practical information for customers on the current interest rate environment available on its website (ref. https://www.asb.co.nz/home-loans-mortgages/preparing-for-rising-interest-rates.html ) as well support to help customers take control of their financial wellbeing and achieve their goals at its Financial Wellbeing Hub (ref. https://www.asb.co.nz/banking-with-asb/financial-wellbeing.html ).

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: OCR reduction affirms spending discipline

    Source: New Zealand Government

    The reduction in the Official Cash Rate (OCR) affirms the work done by the  Government to bring public spending back under control, Finance Minister Nicola Willis says.

    The Reserve Bank today reduced the OCR by 25 basis points, meaning the rate has come down 200 basis points since August last year.

    “That is good news for households because it means lower mortgage rates and more money in people’s pockets to help with the cost of living,” Nicola Willis says.

    “For example, for someone with a $500,000 mortgage over 25 years, a two percentage point drop in their interest rate reduces their repayments by about $300 a fortnight. 

    “The fall in the OCR is also good news for businesses because it means more money flowing through their tills.

    “The Government knows many families and businesses are still doing it tough but our focus on stopping wasteful spending has made a difference.

    “When the Government is disciplined with its spending, it takes the heat out of inflation and gives the Reserve Bank more room to reduce interest rates. 

    “Since peaking at 7.3 per cent in June 2022, the annual inflation rate has fallen to 2.2 per cent. 

    “The OCR is now down to 3.5 per cent. By contrast, the OCR rose from 1.75 per cent when the previous government took office to 5.5 per cent when it left office.  

    “Increasing global uncertainty will present further challenges to the economy in coming months, but New Zealanders can be assured this Government will continue to act in a fiscally prudent manner while putting a premium on stability and certainty and promoting pro-investment policies.

    “Now more than ever, we need to ensure we get value for every dollar of public money spent.” 

    MIL OSI New Zealand News –

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

    Source: China State Council Information Office

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

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

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

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

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

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

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

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

    MIL OSI China News –

  • MIL-OSI New Zealand: Housing Market – NZ residential construction cost growth slows to near-record low – CoreLogic

    Source: CoreLogic

    New Zealand’s residential construction costs are rising at one of the slowest annual rates on record with CoreLogic NZ’s latest Cordell Construction Cost Index (CCCI) recording a growth rate of 0.9% over the past year. (ref. https://www.corelogic.co.nz/news-research/reports/cordell-construction-cost-index )

    The Q1 2025 national CCCI, which tracks the cost to build a typical new dwelling, rose 0.3% in the March 2025 quarter, down from 0.6% in Q4 and well below the long-term quarterly average of 1.0%.

    CoreLogic NZ Chief Property Economist Kelvin Davidson said it’s the second-lowest annual increase since the index began in 2012 and a significant shift after the double-digit growth seen during the COVID-era construction boom.
    The CCCI’s peak annual growth rate was 10.4% in Q4 2022, and the long-term average is 4.2%.
    “After several years of intense upward pressure, construction costs have now settled into a much slower rate of growth,” Mr Davidson said.
    “But this is a moderation, not a retreat. Labour doesn’t tend to get cheaper, and while materials pricing has flattened out, we’re not seeing any decline in the overall cost to build.”
    The March quarter saw a familiar mix of price shifts across key materials. Roof flashings and sheet metal rose by 3–4%, structural steel ticked up by around 1%, while kitchen cabinetry fell 2% and plumbing PVC pipework and fittings dropped by 3%.
    Mr Davidson said these changes reflect a sector returning to more normal patterns after several years of disruption.
    “We’re well past the extremes of 2021 and 2022, where costs surged across the board. These days, we’re seeing more nuanced movements, driven by specific supply and demand factors rather than industry-wide pressure,” he said.
    The sharp drop-off in new dwelling consents and eventual building work over the past 2-3 years has helped take the heat out of costs. Stats NZ figures show approvals  are down across most regions in the past 12 months, except for Otago, which recorded a 25% lift.
    Overall, national consent volumes are around one-third below their peak.
    “Some builders now have spare capacity, which is helping cap further price rises,” Mr Davidson said.

    “Construction activity appears to have stabilised, however any signs of a recovery remain tentative.”

    Looking ahead, Mr Davidson said easing interest rates and favourable lending conditions for new builds may support a modest lift in construction demand, but any return to the double-digit growth rates for costs experienced in 2022 is unlikely.
    “If new-build activity picks up again, and there are signs it might, we could see construction costs start to rise a little more quickly over the next year or two,” he said.
    “The key trend this year is construction costs are no longer spiralling but they’re also not falling. For now, we’re in a holding pattern, which will come as a welcome relief for builders, developers and households alike.”
    CoreLogic NZ is a leading, independent provider of property data and analytics. We help people build better lives by providing rich, up-to-the-minute property insights that inform the very best property decisions. Formed in 2014 following the merger of two companies that had strong foundations in New Zealand’s property industry – Terralink Ltd and PropertyIQ NZ Ltd – we have the most comprehensive property database with coverage of 99% of the NZ property market and more than 500 million decision points in our database.
    We provide services across a wide range of industries, including Banking & Finance, Real Estate, Government, Insurance and Construction. Our diverse, innovative solutions help our clients identify and manage growth opportunities, improve performance and mitigate risk. We also operate consumer-facing portal propertyvalue.co.nz – providing important insights for people looking to buy or sell their home or investment property. We are a wholly owned subsidiary of CoreLogic, Inc – one of the largest data and analytics companies in the world with offices in New Zealand, Australia, the United States and United Kingdom. For more information visit corelogic.co.nz.
    About Cordell Building Indices
    The Cordell Building Indices (CBI) are a series of construction industry index figures that are used to monitor the movement in costs associated with building work within particular segments of the industry. The CBI indicate the rate of change in prices within particular segments of the New Zealand construction industry.
    The changes in prices are measured daily through the use of detailed cost surveys, and are reported on a quarterly basis. This ensures the most current and comprehensive industry information available. Each index is based on a combination of labour, material, plant hire and subcontract services required to construct buildings within the particular segment being measured. The CBI measure the change in the cost of constructing buildings, and as such do not provide the actual costs.

    MIL OSI New Zealand News –

  • MIL-OSI USA: At Hearing, Warren Grills Greer on Potential Job Losses From Trump Tariffs

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    April 08, 2025

    Warren: “What you’re telling us is the fact that hundreds of thousands, even millions of people, could lose their jobs and that prices could go up will not be a factor for you or for Donald Trump for rolling those tariffs back.”

    Video of Exchange (YouTube)

    Washington, D.C. – At a hearing of the Senate Finance Committee, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, demanded answers from Ambassador Jamieson Greer, United States Trade Representative, on President Trump’s reckless tariffs that have the potential to lead the nation into an economic crisis.

    After President Trump’s announcement on his “reciprocal” tariffs on almost every country in the world, the stock market experienced its biggest drop since the first days of the pandemic. Senator Warren sounded the alarm about a likely recession, citing Federal Reserve Chair Jerome Powell, who warned that the tariffs could lead to both “higher prices” and “higher unemployment.”

    Greer is responsible for developing and promoting the U.S. trade agenda and leading trade negotiations on behalf of the U.S. When asked if the Trump administration would reverse course on their tariffs if they cost workers their jobs and raised prices, Ambassador Greer refused to provide a straight answer.

    In fact, Greer insisted that Donald Trump’s on-again, off-again tariffs on China would bring “lower unemployment, lower inflation,” putting him at odds with economists of all political leanings.  

    “What you’re telling us is the fact that hundreds of thousands, even millions of people, could lose their jobs and that prices could go up will not be a factor for you or for Donald Trump for rolling those tariffs back,” said the senator. 

    Today, Senator Warren joined Ranking Member Ron Wyden in introducing legislation to repeal Donald Trump’s global tariffs. The resolution would terminate the emergency that Trump declared to slap tariffs of up to 49% on products Americans buy from other countries.

    “Look, if Republicans are serious about protecting American jobs and fighting inflation, then they can join Democrats right now to pass a resolution to fix Trump’s restless tariffs,” said the senator. “This economy is teetering on the edge of collapse. We have the power right here in the Senate and over in the House of Representatives to take this authority away from Donald Trump.”

    Transcript: Hearing to examine the President’s 2025 trade policy agenda.

    Senate Finance Committee

    April 8, 2025

    Senator Elizabeth Warren: Thank you, Mr. Chairman. Donald Trump is single-handedly driving this economy off a cliff. With no evidence to back him up, he’s claimed emergency authorities to slap new tariffs on nearly every product we import, from nearly every country. 

    But Congress has the power to reverse those tariffs—and we should do so immediately. 

    Tariffs can be a tool to help build things in America. But Trump has slapped tariffs on, then off, on then off again with no rhyme or reason—and the uncertainty about the long-term rules makes companies far less likely to invest in manufacturing or jobs here in the United States. 

    If Congress doesn’t stand up to Trump, economists predict a recession before the end of the year, and Fed Chair Jerome Powell says we’re in a real danger of “both higher unemployment and higher inflation.” Translation: Trump’s tariffs will push millions of workers out of jobs and push prices up at the same time.

    So, Ambassador Greer, we’ve heard a lot of conflicting statements about whether these tariffs are here to stay, how many more rounds of on/off we’re going to do. So, let me ask the question from a different perspective.

    Ambassador Greer, we lost 700,000 jobs each month in the last recession. If 700,000 Americans lose their jobs, will the Trump administration suspend these tariffs?

    Ambassador Jamieson Greer: Senator, I think the economists who are making these projections, who often are in favor of fully unfettered free trade, are the same ones, you said in the first Trump term, that put tariffs— I just don’t think it’s going to happen, Senator.

    Senator Warren: Mr. Greer, let me just stop you there. I’m not asking about projections. I’m asking, if the numbers show that 700,000 people have lost their jobs because of these new tariffs that Trump has slapped on, will the administration reverse course and lift those tariffs? 

    Ambassador Greer: Senator, that’s not going to happen. We’ve lost 5 million manufacturing jobs over the years, which is the number I’m most worried about, and we have to get those jobs back. 

    Senator Warren: So, I take that as a no. Let me try another one. Moody says that if the Trump tariffs remain in place, we will definitely plunge into a recession, which will ultimately cost three and a half million Americans their jobs. 

    So, Ambassador Greer, if Trump’s tariffs push three and a half million people out of work, will the Trump administration reverse course and lift those tariffs? 

    Ambassador Greer: Senator, the Wall Street analysts are wrong. They never want to have any kind of change to the status quo–

    Senator Warren: I’m not asking if they’re right or wrong–

    Ambassador Greer: But that’s who you’re quoting to me, Senator.

    Senator Warren: I’m giving you a number. If the number is three and a half million, if it never comes to pass, you don’t have to worry about your answer, but if three and a half million people lose their jobs because of these tariffs, is the Trump administration prepared to lift them? 

    Ambassador Greer: Right now, this minute, we’re working on negotiations with countries who believe they can achieve reciprocity with us and get their trade deficit down, and that’s the emergency we’re focused on. There’s not going to be a situation where, years from now, we’ve lost millions of jobs.

    Senator Warren: Let me try one more time: if Trump tariffs push workers out of their jobs and raise prices as Fed Chair Powell has predicted, will you reverse course then?

    Ambassador Greer: I think also with respect to Chairman Powell, who I don’t know personally, but I know the President makes decisions on trade, and he rarely takes advice from Chairman Powell on this. We found in Trump One that you could put tariffs on China and you could make it work and have lower income, sorry, lower unemployment, lower inflation, and increase real median household income over time as we reshore and that’s what we have to do, Senator. 

    Senator Warren: What I’m hearing you say is that no one can hear a rhyme or reason to why the tariffs are off again, on again, off again, on again. But what you’re telling us is the fact that hundreds of thousands, even millions of people, could lose their jobs and that prices could go up will not be a factor for you or for Donald Trump for rolling those tariffs back. Look, if Republicans are serious about protecting American jobs and fighting inflation, then they can join Democrats right now to pass a resolution to fix Trump’s restless tariffs. This economy is teetering on the edge of collapse. We have the power right here in the Senate and over in the House of Representatives to take this authority away from Donald Trump. We can get this voted on. Senator Wyden and I have already, are about to, introduce the bill to do that, and if Republicans are serious about not playing the red light green light with tariffs but instead about protecting our economy, our families, our jobs, and keeping prices low, then Republicans should join us on that. Thank you, Mr. Chairman.

    MIL OSI USA News –

  • MIL-OSI USA: Reinvigorating America’s Beautiful Clean Coal Industry and Amending Executive Order 14241

    US Senate News:

    Source: The White House
    By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:
    Section 1. Purpose. In order to secure America’s economic prosperity and national security, lower the cost of living, and provide for increases in electrical demand from emerging technologies, we must increase domestic energy production, including coal. Coal is abundant and cost effective, and can be used in any weather condition. Moreover, the industry has historically employed hundreds of thousands of Americans. America’s coal resources are vast, with a current estimated value in the trillions of dollars, and are more than capable of substantially contributing to American energy independence with excess to export to support allies and our economic competitiveness. Our Nation’s beautiful clean coal resources will be critical to meeting the rise in electricity demand due to the resurgence of domestic manufacturing and the construction of artificial intelligence data processing centers. We must encourage and support our Nation’s coal industry to increase our energy supply, lower electricity costs, stabilize our grid, create high-paying jobs, support burgeoning industries, and assist our allies.
    Sec. 2. Policy. It is the policy of the United States that coal is essential to our national and economic security. It is a national priority to support the domestic coal industry by removing Federal regulatory barriers that undermine coal production, encouraging the utilization of coal to meet growing domestic energy demands, increasing American coal exports, and ensuring that Federal policy does not discriminate against coal production or coal-fired electricity generation.
    Sec. 3. Strengthening Our National Energy Security. The Chair of the National Energy Dominance Council (NEDC) shall designate coal as a “mineral” as defined in section 2 of Executive Order 14241 of March 20, 2025 (Immediate Measures to Increase American Mineral Production), thereby entitling coal to all the benefits of a “mineral” under that order. Further, Executive Order 14241 is hereby amended by deleting the reference to “4332(d)(1)(B)” in section 6(d) of that order and replacing it with a reference to “4532(d)(1)(B)”.
    Sec. 4. Assessing Coal Resources and Accessibility on Federal Lands. (a) Within 60 days of the date of this order, the Secretary of the Interior, the Secretary of Agriculture, and the Secretary of Energy shall submit a consolidated report to the President through the Assistant to the President for Economic Policy that identifies coal resources and reserves on Federal lands, assesses impediments to mining such coal resources, and proposes policies to address such impediments and ultimately enable the mining of such coal resources by either private or public actors.
    (b) The Secretary of Energy shall include in the report described in subsection (a) of this section an analysis of the impact that the availability of the coal resources identified could have on electricity costs and grid reliability.
    Sec. 5. Lifting Barriers to Coal Mining on Federal Lands. (a) The Secretary of the Interior and the Secretary of Agriculture shall prioritize coal leasing and related activities, consistent with applicable law, as the primary land use for the public lands with coal resources identified in the report described in section 4(a) of this order and expedite coal leasing in these areas, including by utilizing such emergency authorities as are available to them and identifying opportunities to provide for expedited environmental reviews, consistent with applicable law.
    (b) The Secretary of the Interior, pursuant to the authorities in the Mineral Leasing Act of 1920, as amended and supplemented (30 U.S.C. 181 et seq.), the Mineral Leasing Act for Acquired Lands of 1947, as amended (30 U.S.C. 351-359), and the Multiple Mineral Development Act of 1954 (30 U.S.C. 521-531 et seq.), shall acknowledge the end of the Jewell Moratorium by ordering the publication of a notice in the Federal Register terminating the “Environmental Impact Statement Analyzing the Potential Environmental Effects from Maintaining Secretary Jewell’s Coal Leasing Moratorium”, and process royalty rate reduction applications from Federal coal lessees in as expeditious a manner as permitted by applicable law.
    Sec. 6. Supporting American Coal as an Energy Source. (a) Within 30 days of the date of this order, the Administrator of the Environmental Protection Agency, the Secretary of Transportation, the Secretary of the Interior, the Secretary of Energy, the Secretary of Labor, and the Secretary of the Treasury shall identify any guidance, regulations, programs, and policies within their respective executive department or agency that seek to transition the Nation away from coal production and electricity generation.
    (b) Within 60 days of the date of this order, the heads of all relevant executive departments and agencies (agencies) shall consider revising or rescinding Federal actions identified in subsection (a) of this section consistent with applicable law.
    (c) Agencies that are empowered to make loans, loan guarantees, grants, equity investments, or to conclude offtake agreements, both domestically and abroad, shall, to the extent permitted by law, take steps to rescind any policies or regulations seeking to or that actually discourage investment in coal production and coal-fired electricity generation, such as the 2021 U.S. Treasury Fossil Fuel Energy Guidance for Multilateral Development Banks rescinded by the Department of the Treasury and similar policies or regulations.
    (d) Within 30 days of the date of this order, the Secretary of State, the Secretary of Agriculture, the Secretary of Commerce, the Secretary of Energy, the Chief Executive Officer of the International Development Finance Corporation, the President of the Export-Import Bank of the United States, and the heads of all other agencies that have discretionary programs that provide, facilitate, or advocate for financing of energy projects shall review their charters, regulations, guidance, policies, international agreements, analytical models and internal bureaucratic processes to ensure that such materials do not discourage the agency from financing coal mining projects and electricity generation projects. Consistent with law, and subject to the applicable agency head’s discretion, where appropriate, any identified preferences against coal use shall immediately be eliminated except as explicitly provided for in statute.
    Sec. 7. Supporting American Coal Exports. The Secretary of Commerce, in consultation with the Secretary of State, the Secretary of Energy, the United States Trade Representative, the Assistant to the President for National Security, and the heads of other relevant agencies, shall take all necessary and appropriate actions to promote and identify export opportunities for coal and coal technologies and facilitate international offtake agreements for United States coal.
    Sec. 8. Expanding Use of Categorical Exclusions for Coal Under the National Environmental Policy Act. Within 30 days of the date of this order, each agency shall identify to the Council on Environmental Quality any existing and potential categorical exclusions pursuant to the National Environmental Policy Act, increased reliance on and adoption of which by other agencies pursuant to 42 U.S.C. 4336c could further the production and export of coal.
    Sec. 9. Steel Dominance. (a) The Secretary of Energy, pursuant to the authority under the Energy Act of 2020 (the “Act”), shall determine whether coal used in the production of steel meets the definition of a “critical material” under the Act and, if so, shall take steps to place it on the Department of Energy Critical Materials List.
    (b) The Secretary of the Interior, pursuant to the authority under the Act, shall determine whether metallurgical coal used in the production of steel meets the criteria to be designated as a “critical mineral” under the Act and, if so, shall take steps to place coal on the Department of the Interior Critical Minerals List.
    Sec. 10. Powering Artificial Intelligence Data Centers. (a) For the purposes of this order, “artificial intelligence” or “AI” has the meaning set forth in 15 U.S.C. 9401(3).
    (b) Within 60 days of the date of this order, the Secretary of the Interior, Secretary of Commerce, and the Secretary of Energy shall identify regions where coal-powered infrastructure is available and suitable for supporting AI data centers; assess the market, legal, and technological potential for expanding coal-based infrastructure to power data centers to meet the electricity needs of AI and high-performance computing operations; and submit a consolidated summary report with their findings and proposals to the Chair of the NEDC, the Assistant to the President for Science and Technology and the Special Advisor for AI and Crypto.
    Sec. 11. Acceleration of Coal Technology. (a) The Secretary of Energy shall take all necessary actions, consistent with applicable law, to accelerate the development, deployment, and commercialization of coal technologies including, but not limited to, utilizing all available funding mechanisms to support the expansion of coal technology, including technologies that utilize coal and coal byproducts such as building materials, battery materials, carbon fiber, synthetic graphite, and printing materials, as well as updating coal feedstock for power generation and steelmaking.
    (b) Within 90 days of the date of this order, the Secretary of Energy shall submit a detailed action plan to the President through the Chair of the NEDC outlining the funding mechanisms, programs, and policy actions taken to accelerate coal technology deployment.
    Sec. 12. General Provisions. (a) Nothing in this order shall be construed to impair or otherwise affect:
    (i) the authority granted by law to an executive department or agency, or the head thereof; or
    (ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
    (b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
    (c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
    DONALD J. TRUMP

    MIL OSI USA News –

  • MIL-OSI: Audited results of Invalda INVL Group for 2024

    Source: GlobeNewswire (MIL-OSI)

    Invalda INVL reported equity of EUR 222 million at the end of December 2024, or EUR 18.48 per share. These figures were 25.4% and 25.3% higher, respectively, than a year earlier, including the dividends paid last year.

    In 2024, Invalda INVL earned an audited net profit of EUR 44.4 million, compared with EUR 45.8 million in 2023, when a strategically important merger of Invalda INVL group’s retail businesses with Šiaulių bankas was completed. From last year’s profit, the company proposes a dividend payout of EUR 15 million, or EUR 1.25 per share. The proposal will be put to a vote at the general meeting of shareholders on 30 April.

    “2024 was a successful and profitable year for our clients and for the Invalda INVL group. In a rapidly changing geopolitical and economic environment, we consistently focus our work on creating long-term value by investing, ensuring asset diversification and liquidity for our clients, and growing and strengthening the managed businesses to enhance their competitiveness,” says Darius Šulnis, the CEO of Invalda INVL.

    The group generated gains of EUR 157 million for its clients last year. Client assets under management grew by 17% during the year, reaching EUR 1.68 billion at the end of December 2024.

    Strategic core business: asset management and family office activities

    Invalda INVL’s revenue from the management of assets entrusted by its clients totalled EUR 14.1 million in 2024, 16.5% less than in 2023. The decline in the period of comparison reflects the exclusion of revenue from the retail business, which was transferred to Šiaulių Bankas in early December 2023.

    The 2024 profit of strategic core business of the group, which also includes the company’s own investments in the products it manages, amounted to EUR 17.8 million, compared with EUR 39.4 million in 2023.

    The activities of the INVL Baltic Sea Growth Fund (INVL BSGF) were among last year’s most significant events. In February 2024, the fund acquired the buckwheat producer and grain trader company Galinta, and near the end of the year the fund signed an agreement to acquire shares in Pehart Group, a leading producer of household and industrial paper products in Romania. The completion of that transaction will make Pehart Group the INVL BSGF’s 10th and the last investment. Also, a new milestone for the fund was launched: in March 2025, the INVL BSGF completed the sale of InMedica Group, private healthcare network, demonstrating the success of the fund’s strategy to build sector leaders. During the 6 years of the fund’s investment in InMedica Group, the company increased its revenues more than 15 times, and the group grew from 18 clinics to a network of 89 medical clinics, hospitals and laboratories.

    “The remaining portfolio companies of INVL Baltic Sea Growth Fund are also being successfully strengthened, and some are already being prepared for the sale. In 2025, we will focus on generating cash flows from the fund’s portfolio along with a solid return for our investors,” Darius Šulnis says.

    Last year the preparatory work was carried out for a second-generation private equity fund, which has begun operations in 2025. Having raised EUR 305 million, INVL Private Equity Fund II,  the largest private equity fund in the Baltics, has started operations, exceeding its target size in the first closing.

    Total revenues across the Invalda INVL group’s portfolio companies of private equity funds amounted to EUR 854 million in 2024, with EBITDA totalling EUR 207 million and combined 12,500 employees at year-end.

    The investment opportunities offered by Invalda INVL Group in global third country funds have also been well received by investors in the Baltic region. The INVL Partner Global Real Estate Fund I, established early last year, attracted USD 13.25 million from investors, while the INVL Partner Power Opportunities Fund, launched in September 2024, raised USD 24.71 million.

    The INVL Renewable Energy Fund I is due to complete its investment phase this year and prepare to manage power generation projects that will begin producing revenue. The fund’s team will also focus on realizing value, which may include the potential sale of projects. In 2025, work began on analyzing possible scenarios for the establishment of a second renewable energy fund with a broader infrastructure strategy.

    The INVL Sustainable Timberland and Farmland Fund II entered a new geographic market in 2024 with its acquisition of forests in Romania as the fund’s total portfolio of land and forest exceeded 20,000 hectares. This year the fund will focus on improving the quality of its portfolio, undertaking value-creating transactions and seeking to ensure a steady revenue generation and achieve the targeted return for investors.

    INVL Technology earned a net profit of EUR 8.1 million in 2024, 56.6 more than in 2023. The price of the company’s shares on the stock exchange rose nearly 70% last year. In mid-March 2024, INVL Technology announced that it had signed an agreement with an investment advisor and M&A intermediary for the sale of the company’s portfolio of businesses.

    INVL Baltic Real Estate, the real estate investment company, had a consolidated net profit of EUR 2.74 million last year, which is 3.9 times the figure for 2023.  INVL Baltic Real Estate completed the sale of a property holding in Latvia last year in a transaction valued at EUR 7.45 million.

    As of late 2024, INVL Asset Management became the manager of INVL Bridge Finance, a fund that is successfully operating in the private debt market.

    The INVL Family Office continued its successful activities in Lithuania and expanded operations in the other Baltic countries. The first clients are already being served in the Family Office representative offices in Latvia and Estonia.

    Equity investments

    Invalda INVL’s other equity investments, aside from the asset management, had a EUR 32.1 million impact on earnings in 2024.

    This result was positively influenced by the strong performance of the banks in which the company holds stakes, along with their growth in value and dividend payouts. Invalda INVL has investments in Šiaulių Bankas and in maib, Moldova’s largest bank.

    The positive impact of Šiaulių Bankas on Invalda INVL’s pretax profit, including dividend payments, was EUR 23.6 million. In 2024, the bank has successfully integrated the INVL retail business, moved forward with a business transformation to strengthen the bank, and, in April this year, announced plans to change its name to Artea. Šiaulių Bankas last year earned a record EUR 79.3 million net profit and half of it has allocated to dividends. The bank’s share price on the stock exchange rose 19% during 2024. 

    During the last year, maib once again delivered solid financial results in 2024, reflecting both resilience and sustainable growth in all business segments. The bank had an unaudited net profit of EUR 73.4 million last year and paid EUR 39.4 million in dividends. Maib made the positive influence of EUR 4.8 million on Invalda INVL’s pretax profit.

    Litagra, one of the largest agribusiness groups in Lithuania, has benefited from favourable market trends.  Since the second half of 2024, the company’s revenue, EBITDA and profit have recovered and increased. Litagra had a positive influence of EUR 3.3 million on Invalda INVL’s result for 2024.

    The person authorized to provide additional information is:
    Darius Šulnis, CEO of Invalda INVL
    Darius.Sulnis@invl.com

    Attachments

    The MIL Network –

  • MIL-OSI: Capital City Bank Group, Inc. to Announce Quarterly Earnings Results on Monday April 21, 2025

    Source: GlobeNewswire (MIL-OSI)

    TALLAHASSEE, Fla., April 08, 2025 (GLOBE NEWSWIRE) — Capital City Bank Group, Inc. (NASDAQ: CCBG) announced today that it will release first quarter 2025 results on Monday, April 21, 2025, before the market opens. Upon release, investors may access a copy of the earnings results at the Company’s Investor Relations website, investors.ccbg.com.

    About Capital City Bank Group, Inc.
    Capital City Bank Group, Inc. is one of the largest publicly traded financial holding companies headquartered in Florida and has approximately $4.5 billion in assets. We provide a full range of banking services, including traditional deposit and credit services, mortgage banking, asset management, trust, merchant services, bankcards, securities brokerage services and financial advisory services, including the sale of life insurance, risk management and asset protection services. Our bank subsidiary, Capital City Bank, was founded in 1895 and now has 62 banking offices and 105 ATMs/ITMs in Florida, Georgia and Alabama. For more information about Capital City Bank Group, Inc., visit www.ccbg.com.

    For Information Contact:
    Jep Larkin
    Executive Vice President and Chief Financial Officer
    850.402.8450

    The MIL Network –

  • MIL-OSI: AMD to Report Fiscal First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., April 08, 2025 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) announced today that it will report fiscal first quarter 2025 financial results on Tuesday, May 6, 2025, after the close of market. Management will conduct a conference call to discuss these results at 5:00 p.m. EDT / 2:00 p.m. PDT. Interested parties are invited to listen to the webcast of the conference call via the AMD Investor Relations website ir.amd.com.

    AMD also announced it will participate in the following events for the financial community:

    • Mark Papermaster, executive vice president and chief technology officer, will present at the TD Cowen 52nd Annual Technology, Media and Telecom Conference on Wednesday, May 28, 2025.
    • Jean Hu, executive vice president, chief financial officer and treasurer, will attend the Bank of America 2025 Global Technology Conference on Tuesday, June 3, 2025.

    A webcast of the presentations can be accessed on AMD’s Investor Relations website ir.amd.com.

    About AMD
    For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn, Facebook and X pages.

    AMD, the AMD Arrow logo and the combination thereof are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.

    Contact
    Phil Hughes
    AMD Communications
    512-865-9697
    phil.hughes@amd.com 

    Liz Stine
    AMD Investor Relations
    (720) 652-3965
    liz.stine@amd.com 

    The MIL Network –

  • MIL-OSI USA: Salinas, Mann Reintroduce Bipartisan Bill to Address Addiction Crisis, Support Individuals in Recovery

    Source: US Representative Andrea Salinas (OR-06)

    Washington, DC – Today, U.S. Representatives Andrea Salinas (OR-06) and Tracey Mann (KS-01) reintroduced the bipartisan, bicameral Providing Empathetic and Effective Recovery (PEER) Support Act, legislation that would expand access to peer-to-peer support services for those struggling with mental health and substance use disorders. U.S. Senators Tim Kaine (D-Va.) and Jim Banks (R-Ind.) are leading a companion bill in the Senate. The PEER Support Act was first introduced by Reps. Salinas and Mann during the 118th Congress.

    “The road to recovery is long and difficult, and at times very lonely. That is why peer support specialists are so important. These are trained experts who have been through recovery themselves, enabling them to build authentic connections with individuals who are suffering from addiction or behavioral health disorders,” said Rep. Salinas. “The bipartisan PEER Support Act breaks down barriers to entry in the profession, allowing more people to pursue this critical work and utilize their own lived experiences to help others.”

    “Addressing mental health and substance abuse across the country is crucial to revitalizing communities and restoring families,” said Rep. Mann. “Peer-to-peer support enables those with shared experiences to work towards recovery. Educating additional peer support specialists will meet an increased need in our communities and offer more lifesaving resources for individuals seeking recovery.”

    Research shows that peer-to-peer support services can significantly decrease rates of substance abuse and reduce re-hospitalization for individuals with mental illnesses. Peer support specialists are qualified experts with lived experience of mental illness or substance use who are trained to help others with their recovery. However, while peer support specialists have become an important part of treatment and recovery teams, peer support specialists face significant barriers to entering or staying in the profession. The PEER Support Act would help break down those barriers and make it easier for people to become qualified peer support specialists.

    Specifically, the PEER Support Act would:

    • Instruct the Department of Health and Human Services, in partnership with the Department of Justice, to research states’ criminal background screening processes that may pose barriers to the certification or practice of peer support specialists, and to provide evidence-based recommendations for overcoming those barriers.
    • Codify the Office of Recovery in the Substance Abuse and Mental Health Services Administration (SAMHSA) to:
    • Provide leadership in the identification of new and emerging issues related to recovery support services;
    • Research and publish best practice recommendations to States and entities that employ peer specialists for training, certification, and supervision of peer support specialists;
    • Support ongoing professional development of peer support specialists;
    • Issue recommendations on the creation of career pathways for peer support specialists.
    • Direct the Office of Management and Budget (OMB) to revise the Standard Occupational Classification (SOC) system to create a distinct classification for peer support specialists to ensure accurate data reporting on the peer support specialist profession.

    In addition to Reps. Salinas and Mann, the legislation is endorsed by the following organizations: American Association for Psychoanalysis in Clinical Social Work, American Association on Health and Disability (AAHD), American Foundation for Suicide Prevention (AFSP), American Mental Health Counselors Association, American Psychological Association Services (APA Services), Anxiety & Depression Association of America, Ballad Health, Bipartisan Policy Center (BPC), Children and Adults with Attention-Deficit/Hyperactivity Disorder (CHADD), Depression and Bipolar Support Alliance, Face and Voices of Recovery, Fountain House, International Society for Psychiatric Mental Health Nurses, Lakeshore Foundation, Mental Health America (MHA), Maternal Mental Health Leadership Alliance (MMHLA), NAADAC, the Association for Addiction Professionals, National Alliance on Mental Illness (NAMI), National Association for Peer Supporters (NAPS), National Association of State Mental Health Program Directors (NASMHPD), National Council for Mental Wellbeing, National Federation of Families, Overdose Prevention Initiative, Policy Center for Maternal Mental Health, Psychotherapy Action Network, RI International, SMART Recovery, and Trust for America’s Health (TFAH).

    “Fifty-two million adults in the U.S.—or 1 in 5 adults—have a mental health condition, and we lack the workforce to help provide much-needed services. The Bipartisan Policy Center has recommended policies advancing peer support specialists and boosting recovery services, and we believe the reintroduction of the PEER Support Act is a critical step toward addressing the shortage of behavioral health workers in this country,” said Michele Stockwell, President of Bipartisan Policy Center Action.

    “There is a growing demand for mental health and substance use care across the country, yet we face a severe shortage of mental health providers,” said Hannah Wesolowski, Chief Advocacy Officer for the National Alliance on Mental Illness (NAMI). “Peer support specialists play a vital role in bridging this gap and supporting people with behavioral health conditions, but we need to reduce barriers that will make peer services more widely available. Representative Salinas’ PEER Support Act takes meaningful steps to lower these barriers by providing essential training, education, and professional resources to strengthen and sustain the peer support workforce. NAMI is proud to endorse this critical legislation.”

    “Mental Health America (MHA) applauds Congresswoman Andrea Salinas and Congressman Tracey Mann for introducing the PEER Support Act, bipartisan, bicameral legislation that would recognize and elevate the importance of peer support services in promoting mental health and recovery,” said Mary Giliberti, Chief Public Policy Officer for Mental Health America (MHA).  “As our nation grapples with challenges to accessing mental health and substance use care this bill would invest in peer specialists, a critical arm of the behavioral health workforce. MHA urges Congress to enact this bill into law as part of our nation’s effort to combat the ongoing substance use and mental health crises.” 

    “The PEER Support Act recognizes the significant tie between mental health and substance use disorders by expanding peer-to-peer support services. These evidence-based services are a crucial component in our overall overdose response. We commend Representatives Salinas and Mann, and Senators Kaine and Banks for leading on this issue and advancing policies that prevent overdose deaths and promote recovery,” said Libby Jones, Associate Vice President for the Overdose Prevention Initiative at Global Health Advocacy Incubator.

    To read the full text of this legislation, click here. 

    ###

    MIL OSI USA News –