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Category: Banking

  • MIL-OSI China: Announcement on Open Market Operations No.135 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.135 [2025]

    (Open Market Operations Office, July 16, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB520.1 billion through quantity bidding at a fixed interest rate on July 16, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB520.1 billion

    RMB520.1 billion

    Date of last update Nov. 29 2018

    2025年07月16日

    MIL OSI China News –

  • MIL-OSI Banking: Samsung Encourages Users to Activate Latest Anti-Theft Features to Help Tackle Phone Theft

    Source: Samsung

    As incidents of phone theft continue to rise around the world, Samsung is calling on Galaxy users to activate the latest anti-theft features now available on their devices. These updates reflect Samsung’s commitment to delivering smarter, stronger protection – helping users safeguard their data and stay in control, even in high-risk situations.
     
    Samsung’s One UI 7  security update, which includes additional theft protection and anti-robbery features, is now available for Galaxy S25 Series, Galaxy S24 Series, Galaxy Z Fold6, Galaxy Z Flip6, Galaxy Z Fold5, Galaxy Z Flip 5, Galaxy S23 Series and Galaxy S22 Series.
     
    One major update is Theft Protection – a multi-layered suite of features developed to safeguard personal data, even in high-risk situations such as robbery.
     
    Theft Protection builds on standard Android safeguards, which are effective in typical theft scenarios where the thief doesn’t know the user’s PIN. With One UI 7, Samsung goes further by introducing additional protections that address more advanced or high-risk threat scenarios, including cases where access credentials may have been exposed.
     
    Galaxy users can now enable a range of new security measures, including Identity Check, an opt-in feature designed to offer stronger protection in complex theft scenarios. These features respond automatically and intelligently to suspicious activity, helping ensure that personal data remains secure and under the user’s control in these critical moments.
     
    Existing and updated features in Theft Protection include:

    Theft Detection Lock: This uses machine learning to detect motions associated with theft such as snatching, and instantly locks the screen to prevent unauthorised access.
    Offline Device Lock: The screen gets automatically locked if the device is disconnected from the network for an extended period, ensuring protection even when the device is offline.
    Remote Lock: If the device has already been stolen, the user can lock it remotely using his/her phone number and a quick verification step. Remote Lock also allows users to regain control of their accounts and explore additional recovery options.

     
    New Anti-Robbery features released on One UI 7 include:

    Identity Check: In unfamiliar locations, the Safe Places feature (accessible via Identity Check) requires biometric authentication for any changes to sensitive security settings, adding an additional layer of protection when a PIN may have been compromised.
    Security Delay: A key component of Identity Check, it triggers a one-hour waiting period if someone attempts to reset biometric data. This crucial buffer gives users time to lock the stolen phone from a connected device, such as a PC or tablet, before unauthorised access can occur.

     
    These updated theft features are devices with One UI 7,  with future updates OS planned for even more Galaxy smartphones.
     
     
    Further steps to take if your Samsung Galaxy device is lost or stolen
     
    How to remotely lock your Samsung Galaxy device:

    Sign into Samsung Find using your Samsung account
    Select your phone on the left-hand side of the page, then choose Lost Mode in the device details section
    Create a PIN to unlock your phone if recovered, and enter it twice to confirm
    You will have the option to add an emergency contact and a custom message that will display on the locked screen (It’s recommended to skip this step to avoid sharing personal contact details)
    When you are ready, select the Lock button and verify your Samsung account to activate Lost mode
    If your device is recovered, you can unlock it using the PIN that was created when setting lost mode on your device

     
    How to remotely delete data on your Samsung Galaxy device: 

    Visit the Samsung Find website
    Select the phone you want to erase and choose Erase Data
    Verify your Samsung account credentials
    Review the information provided and tap Erase to confirm

    All the data on your mobile, including Samsung Pay information, will be permanently deleted and cannot be recovered
    This will also reset your phone, meaning you won’t be able to locate and control it via Samsung Find
    Make sure to regularly back up your data to the cloud so you can restore it to a new device if needed

     
    How to remotely change your Samsung and/or Google account passwords: 

    It is recommended to change the passwords for your Samsung and Google accounts (or whichever accounts are linked to your device) by signing in through their respective websites
    Once changed, you will be signed out of all connected devices, except the one you’re using
    This prevents unauthorized access to account-linked features and protects your personal information

     
    How to track your Galaxy device:
    If your device is turned on and connected to Wi-Fi or mobile data, its last known location will appear on a map

    Visit the Samsung Find website
    Sign in with the Samsung account associated with your device (or a guardian’s account)
    If multiple devices are linked to your account, they will all appear – select the one you want to locate
    You’ll see its current or last known location

     
    Other remote features available with Samsung Find: 

    Ring: Make your device ring even if it’s set to silent or vibrate
    Extend battery life: Activate power-saving settings to keep your device on longer and improve the chances of recovery
    Track location: Enable real-time location tracking and your phone’s location will update every 15 minutes until tracking is stopped

     
    Other ways to locate Galaxy devices
     
    Find your phone using your Galaxy watch (WearOS 5 or higher):

    Swipe down from the top of your Galaxy Watch to open Quick settings
    Tap the Find My Phone icon
    Tap Start to begin the search – your phone’s ringtone will sound
    Once found, tap Stop on your watch or the X icon on your phone

     
    Find your Galaxy Watch: 

    Open the Galaxy Wearable app on your phone
    Tap Find My Watch
    If connected via Bluetooth, tap Ring and Start
    Your watch will vibrate and play a sound (depending on model)
    Once found, tap the X icon on your watch or Stop on your phone

     
    Find your Galaxy Buds: 

    Open the Galaxy Wearable app on your phone or tablet
    Tap Find My Earbuds
    Tap Start – your earbuds will begin beeping and gradually increase in volume for three minutes
    Once found, tap Stop

     
    Using Google’s Find My Device:

    Google’s Find My Device is built into Android via Google Play Services
    You will need a Google account to use it
    With this tool, you can set a new password, make your device ring, display a message, lock and wipe your device, and more

     
    Contact the authorities and your mobile network provider: 

    Once taken the steps above, report your lost or stolen device to the police
    Contact your mobile network provider to suspend your service, block the phone’s IMEI and consider logging out of your various accounts and locking down payment apps

    MIL OSI Global Banks –

  • MIL-OSI Banking: Global Top TV Brand Samsung Unveils 2025 TV Line-Up with Exclusive Launch Offer in South Africa

    Source: Samsung

    Samsung South Africa will be officially launching its cutting-edge 2025 TV line-up on July 16, reaffirming the company’s global leadership in television innovation for an unprecedented 19 consecutive years (according to Omdia – market research firm). This accolade is also backed by market research firm FutureSource Consulting, naming Samsung the world’s top soundbar brand for the 11th year in a row, further strengthening its leadership in the premium audio industry since 2014. To mark this launch and deliver even more value to its customers, Samsung is introducing the Samsung TV Early-Order and Launch Promotion, running from 16 July to 11 August 2025.
     

     
    This exclusive promotion offers early buyers the chance to receive free premium gifts that perfectly complement the immersive experience delivered by Samsung’s 2025 TVs. These include the latest Galaxy tablets, soundbars, smartwatches, and wireless earbuds – all designed to enhance your smart home ecosystem.
     
    Get More When You Order Early
    Customers who purchase a qualifying TV from Samsung stores, online and any participating retailer during the limited promotion period will get more value for their money.
     
    Unmatched Innovation Across the 2025 Line-up
    The new range features Samsung’s most advanced TV technologies yet – including Neo QLED, QLED and OLED panels powered by Vision AI. These displays adapt to your environment and viewing habits, delivering stunning visuals, exceptional clarity, and intelligent upscaling across 4K and 8K resolutions. Whether you’re watching blockbuster films, sports, or gaming, the 2025 line-up offers an unmatched, immersive entertainment experience.
     
    The new 2025 TV product line-up includes the below models at these recommended retail prices[1];

    100 inch 4K Neo QLED Mini LED (QA100QN80FKXXA) – R99 9991
    Neo QLED 8K (QA75QN900FKXXA) – R149 9991
    77 inch S95F 4K OLED (QA77S95FAKXXA) – R99 9991
    65 inch 4K Neo QLED Mini LED QA65QN90FAKXXA – R39 9991
    55 inch 4K Neo QLED Mini LED QA55QN90FAKXXA – R24 9991

     
    How to Redeem
    To qualify, customers must purchase one of the listed models from a participating retailer during the Promotion Period. Redemption of gifts must take place 16 July – 11 September 2025 via the official Samsung redemption.
    Don’t miss this opportunity to upgrade your home entertainment setup and get rewarded. With Samsung’s 2025 TV range, the future of smart viewing has arrived, and it’s bigger, brighter, and smarter than ever. The next big thing in television – Vision AI is here.
     
    Click here to learn more about the offer – Terms and Conditions apply.
     
    [1] Recommended retail prices only. Prices may vary per retailer.

    MIL OSI Global Banks –

  • MIL-Evening Report: First-hand view of peacemaking challenge in the ‘Holy Land’

    Occupied West Bank-based New Zealand journalist Cole Martin asks who are the peacemakers?

    BEARING WITNESS: By Cole Martin

    As a Kiwi journalist living in the occupied West Bank, I can list endless reasons why there is no peace in the “Holy Land”.

    I live in a refugee camp, alongside families who were expelled from their homes by Israel’s violent establishment in 1948 — never allowed to return and repeatedly targeted by Israeli military incursions.

    Daily I witness suffocating checkpoints, settler attacks against rural towns, arbitrary imprisonment with no charge or trial, a crippled economy, expansion of illegal settlements, demolition of entire communities, genocidal rhetoric, and continued expulsion.

    No form of peace can exist within an active system of domination. To talk about peace without liberation and dignity is to suggest submission to a system of displacement, imprisonment, violence and erasure.

    I often find myself alongside a variety of peacemakers, putting themselves on the line to end these horrific systems — let me outline the key groups:

    Palestinian civil society and individuals have spent decades committed to creative non-violence in the face of these atrocities — from court battles to academia, education, art, co-ordinating demonstrations, general strikes, hīkoi (marches), sit-ins, civil disobedience. Google “Iqrit village”, “The Great March of Return”, “Tent of Nations farm”. These are the overlooked stories that don’t make catchy headlines.

    Protective Presence activists are a mix of about 150 Israeli and international civilians who volunteer their days and nights physically accompanying Palestinian communities. They aim to prevent Israeli settler violence, state-sanctioned home demolitions, and military/police incursions. They document the injustice and often face violence and arrest themselves. Foreigners face deportation and blacklisting — as a journalist I was arrested and barred from the West Bank short-term and my passport was withheld for more than a month.

    Reconciliation organisations have been working for decades to bridge the disconnect between political narratives and human realities. The effective groups don’t seek “co-existence” but “co-resistance” because they recognise there can be no peace within an active system of apartheid. They reiterate that dialogue alone achieves nothing while the Israeli regime continues to murder, displace and steal. Yes there are “opposing narratives”, but they do not have equal legitimacy when tested against the reality on the ground.

    Journalists continue to document and report key developments, chilling statistics and the human cost. They ensure people are seen. Over 200 journalists have been killed in Gaza. High-profile Palestinian Christian journalist Shireen Abu-Akleh was killed by Israeli forces in 2022. They continue reporting despite the risk, and without their courage world leaders wouldn’t know which undeniable facts to brazenly ignore.

    Humanitarians serve and protect the most vulnerable, treating and rescuing people selflessly. More than 400 aid workers and 1000 healthcare workers have been killed in Gaza. All 38 hospitals have been destroyed or damaged, with just a small number left partially functioning. NGOs have been crippled by USAID cuts and targeted Israeli policies, marked by a mass exodus of expats who have spent years committed to this region — severing a critical lifeline for Palestinian communities.

    All these groups emphasise change will not come from within. Protective Presence barely stems the flow.

    Reconciliation means nothing while the system continues to displace, imprison and slaughter Palestinians en masse. Journalism, non-violence and humanitarian efforts are only as effective as the willingness of states to uphold international law.

    Those on the frontlines of peacebuilding express the urgent need for global accountability across all sectors; economic, cultural and political sanctions. Systems of apartheid do not stem from corrupt leadership or several extremists, but from widespread attitudes of supremacy and nationalism across civil society.

    Boycotts increase the economic cost of maintaining such systems. Divestment sends a strong financial message that business as usual is unacceptable.

    Many other groups across the world are picketing weapons manufacturers, writing to elected leaders, educating friends and family, challenging harmful narratives, fundraising aid to keep people alive.

    Where are the peacemakers? They’re out on the streets. They’re people just like you and me.

    Cole Martin is an independent New Zealand photojournalist based in the occupied West Bank and a contributor to Asia Pacific Report. This article was first published by the Otago Daily Times and is republished with permission.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: First-hand view of peacemaking challenge in the ‘Holy Land’

    Occupied West Bank-based New Zealand journalist Cole Martin asks who are the peacemakers?

    BEARING WITNESS: By Cole Martin

    As a Kiwi journalist living in the occupied West Bank, I can list endless reasons why there is no peace in the “Holy Land”.

    I live in a refugee camp, alongside families who were expelled from their homes by Israel’s violent establishment in 1948 — never allowed to return and repeatedly targeted by Israeli military incursions.

    Daily I witness suffocating checkpoints, settler attacks against rural towns, arbitrary imprisonment with no charge or trial, a crippled economy, expansion of illegal settlements, demolition of entire communities, genocidal rhetoric, and continued expulsion.

    No form of peace can exist within an active system of domination. To talk about peace without liberation and dignity is to suggest submission to a system of displacement, imprisonment, violence and erasure.

    I often find myself alongside a variety of peacemakers, putting themselves on the line to end these horrific systems — let me outline the key groups:

    Palestinian civil society and individuals have spent decades committed to creative non-violence in the face of these atrocities — from court battles to academia, education, art, co-ordinating demonstrations, general strikes, hīkoi (marches), sit-ins, civil disobedience. Google “Iqrit village”, “The Great March of Return”, “Tent of Nations farm”. These are the overlooked stories that don’t make catchy headlines.

    Protective Presence activists are a mix of about 150 Israeli and international civilians who volunteer their days and nights physically accompanying Palestinian communities. They aim to prevent Israeli settler violence, state-sanctioned home demolitions, and military/police incursions. They document the injustice and often face violence and arrest themselves. Foreigners face deportation and blacklisting — as a journalist I was arrested and barred from the West Bank short-term and my passport was withheld for more than a month.

    Reconciliation organisations have been working for decades to bridge the disconnect between political narratives and human realities. The effective groups don’t seek “co-existence” but “co-resistance” because they recognise there can be no peace within an active system of apartheid. They reiterate that dialogue alone achieves nothing while the Israeli regime continues to murder, displace and steal. Yes there are “opposing narratives”, but they do not have equal legitimacy when tested against the reality on the ground.

    Journalists continue to document and report key developments, chilling statistics and the human cost. They ensure people are seen. Over 200 journalists have been killed in Gaza. High-profile Palestinian Christian journalist Shireen Abu-Akleh was killed by Israeli forces in 2022. They continue reporting despite the risk, and without their courage world leaders wouldn’t know which undeniable facts to brazenly ignore.

    Humanitarians serve and protect the most vulnerable, treating and rescuing people selflessly. More than 400 aid workers and 1000 healthcare workers have been killed in Gaza. All 38 hospitals have been destroyed or damaged, with just a small number left partially functioning. NGOs have been crippled by USAID cuts and targeted Israeli policies, marked by a mass exodus of expats who have spent years committed to this region — severing a critical lifeline for Palestinian communities.

    All these groups emphasise change will not come from within. Protective Presence barely stems the flow.

    Reconciliation means nothing while the system continues to displace, imprison and slaughter Palestinians en masse. Journalism, non-violence and humanitarian efforts are only as effective as the willingness of states to uphold international law.

    Those on the frontlines of peacebuilding express the urgent need for global accountability across all sectors; economic, cultural and political sanctions. Systems of apartheid do not stem from corrupt leadership or several extremists, but from widespread attitudes of supremacy and nationalism across civil society.

    Boycotts increase the economic cost of maintaining such systems. Divestment sends a strong financial message that business as usual is unacceptable.

    Many other groups across the world are picketing weapons manufacturers, writing to elected leaders, educating friends and family, challenging harmful narratives, fundraising aid to keep people alive.

    Where are the peacemakers? They’re out on the streets. They’re people just like you and me.

    Cole Martin is an independent New Zealand photojournalist based in the occupied West Bank and a contributor to Asia Pacific Report. This article was first published by the Otago Daily Times and is republished with permission.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: Life Sciences Sector Plan to grow economy and transform NHS

    Source: United Kingdom – Executive Government & Departments

    Press release

    Life Sciences Sector Plan to grow economy and transform NHS

    The government has today (Wednesday 16 July) launched a bold new Life Sciences Sector Plan as part of the government’s flagship Industrial Strategy.

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

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

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

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

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

    6 bold actions to kickstart change

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

    1. Unlocking NHS data to find new cures

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

    2. Speeding up clinical trials

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

    3. Backing British manufacturing

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

    4. Getting new treatments to patients faster

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

    5. Helping doctors use cutting-edge tech

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

    6. Backing brilliant UK firms to grow

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

    Built for delivery

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

    Early momentum 

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

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

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

    Why life sciences matter

    • Life Sciences is one of 8 priority sectors in the government’s Industrial Strategy – reflecting the sector’s high growth potential.
    • Life sciences companies employ over 300,000 people, with more than three-quarters of jobs outside London and the Southeast, supporting opportunity in every part of the UK.
    • The sector improves economic productivity by improving health. With long-term illness a major drag on workforce participation, better health leads directly to a stronger, more resilient economy.
    • The Life sciences sector attracts record levels of private investment. In 2023, the UK raised the third highest amount of life sciences equity finance in the world, behind only the US and China.
    • It is a UK export powerhouse -medicines and medical technologies were the UK’s third largest goods export by value in 2024.
    • And it is innovation-intensive, with 17% of all UK business R&D spend is in pharmaceuticals, the highest of any sector.
    • Artificial Intelligence (AI) is also revolutionising the Life Sciences sector across research, diagnostics, treatment, and manufacturing, reshaping how we prevent, treat, and manage disease. The potential economic impact is substantial, with McKinsey Global Institute estimating that AI could generate $60–110 billion annually for the pharmaceutical and medical-product industries alone .

    Chancellor of the Exchequer, Rachel Reeves, said:

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

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

    Science and Technology Secretary Peter Kyle said:

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

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

    Business Secretary Jonathan Reynolds said:

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

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

    Health Secretary Wes Streeting said:

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

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

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

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

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

    Support for the Life Sciences Sector Plan

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

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

    Deepak Nath, CEO of Smith+Nephew, said:  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Paul Tredwell, Executive Vice President of Accord Healthcare said: 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Dr Kevin Lee, CEO of Bicycle Therapeutics said:  

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Richard Stubbs, Chair of the Health Innovation Network said:  

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

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

    Yamin Mohammed Khan, CEO of hVIVO said: 

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

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

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

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

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

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

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

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

    Mark Samuels, Chief Executive of Medicines UK, said:   

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

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

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

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

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

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

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

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

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

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

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

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

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

    Darius Hughes, UK General Manager for Moderna, said:   

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

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

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

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

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

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

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

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

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

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

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

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

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

    Ros Deegan, CEO of OMass Therapeutics, said:  

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

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

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

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

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

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

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

    Richard Saynor, CEO of Sandoz said:  

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

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

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

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

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

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

    John-Arne Røttingen, CEO of Wellcome, said: 

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

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

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

    Notes to editors

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

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 3000

    Updates to this page

    Published 16 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Africa: Official Launch of the African Union Fellowship Programme on Disarmament and Non- Proliferation

    Source: APO – Report:

    .

    The African Union Commissioner for Political Affairs, Peace and Security, Amb. Bankole Adeoye, on behalf of H.E. Mahmoud Ali Youssouf, Chairperson of the Commission officially launched the African Union Fellowship Programme on Disarmament and Non-Proliferation on 15 July 2025. He was joined by Amb. Rebecca Amuge Otengo, Chairperson of the AU Peace and Security Council for the month of July and Amb. Parfait Onanga-Anyanga, Special Representative of the UN Secretary General and Head of the United Nations Office to the African Union.

    The AU Fellowship Programme was established following the decision by the AU Peace and Security Council in May 2024 and it represents not only a training initiative but a strategic investment in nurturing the next generation of African peacemakers, negotiators, and disarmament specialists.

    The programme is designed to equip participants with knowledge on multilateral arms control frameworks, sharpen their diplomatic negotiation skills, and strengthen their capacity to broker mutual agreements between and among states. These efforts are intended to advance regional stability, limit the proliferation of weapons and promote the peaceful use of nuclear technology in Africa with the over-arching view to contribute to global peace and security.

    The target groups for the programme include diplomats from AU Member States, AU Special Envoys, High Representatives, Special Representatives of the Chairperson of the Commission, AU Mediators, Heads of AU Missions and other Strategic-level Leaders. It also extends to individuals working in the disarmament field across Africa, as well as representatives from civil society, academia, policy makers, practitioners, and international partners.

    – on behalf of African Union (AU).

    MIL OSI Africa –

  • MIL-OSI Russia: Investor to build school near Belomorskaya metro station

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    A school for a thousand students will be built in the Left Bank District in the north of the capital. Land use and development rules have been changed for this purpose, said the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “The new school building will appear on a 1.65-hectare site. It will be able to accommodate a thousand students. The building will have universal and specialized classrooms. The project also provides for the creation of a media library, a dining and sports hall, and an event hall. The adjacent territory will be equipped with sports and recreation areas. The investor will be responsible for the construction of the facility,” said Vladimir Efimov.

    Land use and development regulations set requirements for design and construction, determine how a site can be used and what objects are permitted to be built on it.

    “The educational institution will be located near the Belomorskaya station of the Zamoskvoretskaya metro line on land plot 57/10. This will allow teachers and students to easily get to the school from other areas of the city,” she added.

    Juliana Knyazhevskaya, Chairman of the Committee for Architecture and Urban Development of the City of Moscow.

    Earlier, Moscow Mayor Sergei Sobyanin said that a new building would be built in the Sokolinaya Gora district. kindergarten.

    The construction of social facilities in Moscow corresponds to the goals and initiatives of the national project “Infrastructure for life”.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

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

    .

    MIL OSI Russia News –

  • Sensex, Nifty open lower amid mixed global cues

    Source: Government of India

    Source: Government of India (4)

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

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

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

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

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

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

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

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

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

    (ANI)

     

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

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

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

    – Not Applicable / No Transaction.

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

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

    $ Includes refinance facilities extended by RBI.

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

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/720

    MIL OSI Global Banks –

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for July 16, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on July 16, 2025.

    How a drone delivering medicine might just save your life
    Source: The Conversation (Au and NZ) – By Centaine Snoswell, Senior Research Fellow, Centre for Health Services Research, The University of Queensland Flystock/Shutterstock Drones can deliver pizza, and maybe one day your online shopping. So why not use them to deliver urgent medicines or other emergency health-care supplies? Trials in Australia and internationally have shown

    Why it’s important young, unemployed Australians get a good job instead of just ‘any’ job
    Source: The Conversation (Au and NZ) – By Brendan Churchill, ARC Senior Research Fellow and Senior Lecturer in Sociology, The University of Melbourne Lightfield Studios/Shutterstock We often hear young people need to get a job – any job – but what if the problem isn’t whether they’re working or not, but the kind of job

    Why do some autistic people walk differently?
    Source: The Conversation (Au and NZ) – By Nicole Rinehart, Nicole Rinehart, Professor, Clinical Psychology, Director of the Neurodevelopment Program, School of Psychological Sciences, Faculty of Medicine, Nursing and Health Sciences, Monash University Autism is a neurodevelopmental condition that affects how people’s brains develop and function, impacting behaviour, communication and socialising. It can also involve

    How to approach going to the cinema like a philosopher
    Source: The Conversation (Au and NZ) – By Alain Guillemain, PhD Candidate in Philosophy, Deakin University Philosophy is the study of fundamental questions about reality, knowledge, and values. One “does philosophy” when they respond to such questions in ways that engage critical thought and inquiry. Many of us will often respond philosophically to the world

    Australia’s census is getting a stress test – keeping it going is good for everyone
    Source: The Conversation (Au and NZ) – By Liz Allen, Demographer, POLIS Centre for Social Policy Research, Australian National University GoldPanter/Shutterstock The Australian Bureau of Statistics will roll out a large-scale census test next month. About 60,000 households will take part across the country to stress test the bureau’s collection processes and IT systems, ahead

    How safe are the chemicals in sunscreen? A pharmacology expert explains
    Source: The Conversation (Au and NZ) – By Ian Musgrave, Senior Lecturer in Pharmacology, University of Adelaide aquaArts studio/Getty Last week, the Therapeutic Goods Administration (TGA) released its safety review of seven active ingredients commonly used in sunscreens. It found five were low-risk and appropriate for use in sunscreens at their current concentrations. However, the

    Control fire and ferals in Australia’s tropical savannas to bring the small mammals back
    Source: The Conversation (Au and NZ) – By Alyson Stobo-Wilson, Research Adjunct in Conservation Ecology, Research Institute for the Environment and Livelihoods, Charles Darwin University Alyson Stobo-Wilson In remote central Arnhem Land, finding a northern brushtail possum is encouraging for the local Indigenous rangers. Though once common, such small native mammals are now rare. Many

    Florida is fronting the $450M cost of Alligator Alcatraz – a legal scholar explains what we still don’t know about the detainees
    Source: The Conversation (Au and NZ) – By Mark Schlakman, Senior Program Director, The Florida State University Center for the Advancement of Human Rights, Florida State University Florida Gov. Ron DeSantis leads a tour of the new Alligator Alcatraz immigration detention facility for President Donald Trump and U.S. Department of Homeland Security Secretary Kristi Noem.

    As house prices drop, will the retirement nest egg still be such a safe bet?
    Source: The Conversation (Au and NZ) – By Claire Dale, Research Fellow, the Pensions and Intergenerational Equity (PIE) research hub, University of Auckland, Waipapa Taumata Rau MonthiraYodtiwong/Getty Images Changes to KiwiSaver, global economic uncertainty and predictions house prices could drop by as much as 20% by 2030 all mean retirement is looking very different to

    Fiji govt offers NZ$1.5m settlement to former anti-corruption head for ruined career
    By Margot Staunton, RNZ Pacific senior reporter The Fiji government looks set to pay around NZ$1.5 million in damages to the disgraced former head of the country’s anti-corruption agency FICAC. The state is offering Barbara Malimali an out-of-court settlement after her lawyer lodged a judicial review of her sacking in the High Court in Suva.

    Federal Court rules Australian government doesn’t have a duty of care to protect Torres Strait Islanders from climate change
    Source: The Conversation (Au and NZ) – By Liz Hicks, Lecturer in Law, The University of Melbourne Australian Climate Case The Federal Court has handed down its long-awaited judgement in a four-year climate case brought by Torres Strait Islanders. Elders Uncle Pabai Pabai and Uncle Paul Kabai took the Australian government to court on behalf

    No more card surcharges: what the Reserve Bank’s proposed changes mean for your wallet
    Source: The Conversation (Au and NZ) – By Angel Zhong, Professor of Finance, RMIT University That extra 10c on your morning coffee. That $2 surcharge on your taxi ride. The sneaky 1.5% fee when you pay by card at your local restaurant. These could all soon be history. The Reserve Bank of Australia (RBA) has

    President Xi Jinping tells Albanese China ready to ‘push the bilateral relationship further’
    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Chinese President Xi Jinping has told Anthony Albanese China stands ready to work with Australia “to push the bilateral relationship further”, in their meeting in Beijing on Tuesday. During the meeting, Albanese raised Australia’s concern about China’s lack of proper

    Tyranny is an ever-present threat to civilisations. Here’s how Classical Greece and China dealt with it
    Source: The Conversation (Au and NZ) – By Shannon Brincat, Senior Lecturer in Politics and International Relations, University of the Sunshine Coast We’re just a few months into US president Donald Trump’s second term but his rule has already been repeatedly compared to tyranny. This may all feel very new to Americans, and to the

    A person in the US has died from pneumonic plague. It’s not just a disease of history
    Source: The Conversation (Au and NZ) – By Thomas Jeffries, Senior Lecturer in Microbiology, Western Sydney University Corona Borealis Studio/Shutterstock A person in Arizona has died from the plague, local health officials reported on Friday. This marks the first such death in this region in 18 years. But it’s a stark reminder that this historic

    Supermarket treatments for depression don’t require a prescription. But do they work?
    Source: The Conversation (Au and NZ) – By Jon Wardle, Professor of Public Health, Southern Cross University Australians have long been some of the highest users of herbal and nutritional supplements that claim to boost mood or ease depression. These include omega-3s (found in fish oil), St John’s wort, probiotics and vitamin D. In fact,

    Tyranny is an ever-present threat to civilisations. Here’s how Ancient Greece and China dealt with it
    Source: The Conversation (Au and NZ) – By Shannon Brincat, Senior Lecturer in Politics and International Relations, University of the Sunshine Coast Panasevich/Getty Images We’re just a few months into US president Donald Trump’s second term but his rule has already been repeatedly compared to tyranny. This may all feel very new to Americans, and

    After a hopeful start, Labor’s affordable housing fund is proving problematic
    Source: The Conversation (Au and NZ) – By Katrina Raynor, Director of the Centre for Equitable Housing, Per Capita and Research Associate, The University of Melbourne When the Albanese government announced the A$10 billion Housing Australia Future Fund in 2023, the news reverberated through the housing sector. A new funding facility to help build 30,000

    The southern hemisphere is full of birds found nowhere else on Earth. Their importance has been overlooked
    Source: The Conversation (Au and NZ) – By Matthias Dehling, Researcher, School of Biological Sciences, Monash University Matthias Dehling The snow petrel, a strikingly white bird with black eyes and a black bill, is one of only three bird species ever observed at the South Pole. In fact, the Antarctic is the only place on

    MIL OSI Analysis – EveningReport.nz –

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

    Source: Australian Parliamentary Secretary to the Minister for Industry

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    MIL OSI News –

  • MIL-OSI United Kingdom: Space’s influence on economy and security grows, as new projects announced in Manchester

    Source: United Kingdom – Executive Government & Departments

    Press release

    Space’s influence on economy and security grows, as new projects announced in Manchester

    From supercharged 5G systems to a funding boost for local space clusters, new projects have been announced today (Wednesday 16 July) by the UK Space Agency, as figures show growing dependence on satellite technologies.

    As set out recently in the government’s Industrial Strategy, demand for space-based and space-enabled capabilities is growing fast globally.  

    New figures, released on the opening day of the UK Space Conference in Manchester, confirm the nation’s increasing dependence on space. Space and satellite services are now estimated to support wider industrial activities worth £454 billion to the economy, or 18% of GDP. This is an increase of £90 billion on the previous year.   

    The government has identified satellite communications as one of five national space capability priorities, and the UK Space Agency has awarded four new projects £4.5 million to push the boundaries of satellite-based 5G and 6G systems.  

    Among these, MDA Space UK’s SkyPhi mission aims to deliver 5G and 6G connectivity capabilities directly to devices via low Earth orbit satellites. Orbit Fab’s Radical project is focused on developing in-orbit refuelling systems for telecommunications satellites. SSTL’s lunar communications system will enable deep-space communications capabilities, while Viasat’s hybrid GEO-LEO network is designed to provide global 5G Direct-to-Device coverage. 

    These new projects aim to enhance satellite performance, reduce infrastructure costs, and position the UK at the forefront of next-gen connectivity. 

    An additional £1.6 million will go to the UK’s space cluster network to stimulate innovation and economic growth. This funding will enable space clusters to collaborate in areas of shared capability, supporting space companies to forge stronger local partnerships and take advantage of expertise across the whole of the UK, supporting future growth.  

    With more than 55,000 people employed by the space sector across the UK, and a further 81,000 jobs in the supply chain, there is significant potential for the sector to drive economic progress across the country.

    Space and Telecoms Minister Sir Chris Bryant said:  

    The innovations on display at the UK Space Conference demonstrate our strengths in key technologies that will shape Britain’s future, from seamless connectivity and data services to advanced manufacturing and launch.

    With satellite technologies supporting more than £450 billion in annual economic activity, and crucial to climate monitoring and national security, it’s vital that we are coordinating right across Government to unlock space’s incredible potential. We’re committed to working closely with this vibrant sector to accelerate our Plan for Change.

    The UK Space Conference opens its doors in Manchester today, convening leading players in the UK space sector and beyond to discuss future growth plans and renew the sector’s focus on generating economic growth and advancing national security goals.

    Industry Milestones and International Projects

    During the conference, a new partnership between UK-based Viasat, SSTL, and MDA Space will be announced, as part of the European Space Agency’s Moonlight programme. The project will develop the first commercial lunar communications and navigation system, effectively establishing a data highway on and around the Moon. This infrastructure will support a wide range of exploration missions by enabling seamless, cost-effective communications between Earth and the lunar surface. 

    The UK will also spotlight its role in international climate science with the upcoming launch of MicroCarb, Europe’s first dedicated mission to measure atmospheric CO₂ on a global scale. A joint project between CNES (France’s space agency) and the UK Space Agency, the satellite, which will launch on 25 July, will provide crucial data on carbon sources and sinks, supporting efforts to meet Net Zero targets. 

    With its ability to distinguish between natural and human-made emissions, MicroCarb will be instrumental in helping policymakers craft effective climate strategies. Its advanced “city-scanning” mode can map emissions at an urban scale, a critical feature as the world intensifies its response to climate change.

    Dr Paul Bate, CEO of the UK Space Agency said: 

    The Industrial Strategy recognises we are living in the age of space, with satellite services hardwired into the UK economy and security. The UK Space Agency’s budget uplift to £682 million will help us drive forward our work to build stronger national capabilities and catalyse more private investment, in close collaboration with the sector, wider government bodies and international partners.   

    Together we are creating jobs, driving economic growth and tackling the key challenges. The UK Space Conference in Manchester is a powerful reminder that space is not just about looking up, it’s about moving forward.

    Space Sector Growth and National Capabilities

    The latest Size and Health of the UK Space Industry report, which analysed the 2022/23 financial year, shows the number of space organisations grew to 1,907, and employment increased by 7%. This is despite the wider economic challenges of that time and increased competitive pressures in the sector, particularly in the satellite communications market.  

    These challenges underline the importance of taking a more strategic approach to public space investments, with a renewed focus on the space capabilities necessary to drive economic growth and national security.  

    Analysis shows that UK Space Agency activity catalysed a total of £2.2 billion in investment and revenue in the UK space sector in the last financial year. A new report, also published today, shows that every £1 public investment in ESA programmes leads to £7.49 directly benefiting the UK economy. 

    Earlier this month, the UK Space Agency initiated a £75.6 million tender for the nation’s first mission to actively remove defunct satellites from orbit. This process will secure home-grown expertise and strengthen UK leadership in In-orbit Servicing, Assembly and Manufacturing, another key capability area.

    Inspiring the next generation

    Conference attendees will also have the opportunity to engage with British astronauts and reserve astronauts: Tim Peake, Rosemary Coogan, John McFall and Meganne Christian. These astronauts support the UK’s commitment to inspiring the next generation of scientists, engineers, and explorers, and reflect the spirit of innovation and resilience that defines the UK’s space ambitions. 

    Manchester is the 2025 host city, reflecting its strong industrial heritage and growing space cluster. The north west comprises more than 180 organisations and 2,300 space professionals, with companies including graphene specialists Smart IR and MDA Space UK expanding operations near Manchester Airport. The region is also home to the Jodrell Bank Observatory and hosts the global headquarters of the Square Kilmore Array Radio Telescope.  

    The UK Space Conference 2025 builds on the success of previous events in Newport and Belfast, with the latter generating £1.7 million in visitor spending alone.

    Updates to this page

    Published 16 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Banking: Global Topic: Panasonic earns 2025 Great Place to Work Certification™ for fourth consecutive year

    Source: Panasonic

    Headline: Global Topic: Panasonic earns 2025 Great Place to Work Certification for fourth consecutive year

    Newark, NJ, U.S. – Panasonic Corporation of North America announced it has received a Great Place to Work® Certification for the fourth consecutive year, in recognition of the company culture and employee workplace experience. This year, 83% of employees said it’s a great place to work—that’s 26 points higher than the average U.S. company. Great Place to Work is the global authority on workplace culture, employee experience and leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation.
    “Our culture thrives on collective wisdom—it’s where trust takes root, ideas flourish, and innovation comes to life,” said Megan Myungwon Lee, Chairperson and Chief Executive Officer of Panasonic Corporation of North America. “Being recognized by Great Place to Work for four years in a row affirms the strength of our culture and the consistency of our employee experience. If we are asking our people to show up fully every day, then as an employer, we must do the same.”
    Panasonic employees surveyed by Great Place to Work continue to report a strong sense of inclusion, engagement, and community. Overall, employees reported feeling that Panasonic is a physically safe place to work (96%), that you are made to feel welcome when you join the company (90%), and that people across all backgrounds and identities are treated fairly. This includes strong perceptions of fairness across sexual orientation (94%), race (92%), and gender (91%)—reflecting our broader commitment to inclusion and respect.
    “Being recognized by Great Place to Work for the fourth consecutive year reinforces what our employees continue to tell us—we are creating a workplace where people feel safe, seen, and supported,” said Liz Almeida, Chief Human Resources Officer of Panasonic Corporation of North America. “These results show that our commitment to inclusion, fairness, and belonging isn’t just a statement—it’s part of our culture. We’re proud that so many of our people feel they can be themselves at work and are welcomed from day one.”
    “Great Place to Work Certification is a highly coveted achievement that requires consistent and intentional dedication to the overall employee experience,” said Sarah Lewis-Kulin, vice president of global recognition at Great Place to Work. She emphasizes that Certification is the sole official recognition earned by the real-time feedback of employees regarding their company culture. “By successfully earning this recognition, it is evident that Panasonic stands out as one of the top companies to work for, providing a great workplace environment for its employees.”
    According to Great Place to Work research, job seekers are 4.5 times more likely to find a great boss at a Certified great workplace. Additionally, employees at Certified workplaces are 93% more likely to look forward to coming to work, and are twice as likely to be paid fairly, earn a fair share of the company’s profits and have a fair chance at promotion.

    MIL OSI Global Banks –

  • MIL-OSI USA: SUNDAY SHOWS: Send the One Big Beautiful Bill to President Trump’s Desk

    US Senate News:

    Source: US Whitehouse
    This morning, Members of Congress joined President Donald J. Trump on the Sunday shows to discuss the overwhelmingly positive impacts of the One Big Beautiful Bill — which will deliver unprecedented tax relief, generational welfare reform, and historic spending cuts for the American people.
    Here’s what you missed:
    President Trump on Sunday Morning Futures
    “We’re cutting $1.7 trillion … We’re going to have growth like we’ve never seen before.” (Watch)
    “It takes care of the border. There’s also No Tax on Tips, No Tax on Social Security, No Tax on Overtime.” (Watch)
    Senator Markwayne Mullin on Meet the Press
    “This cuts spending. It’s the largest deficit cut by any Congress ever in history. It makes tax cuts permanent — which, instead of taxes going up January 1 by $4 trillion, it actually restores the tax cuts and the average household of four is going to bring home pay over $10,000 more a year.” (Watch)
    “What we’re doing is cutting the waste, fraud, and abuse out of the Medicaid system and make sure it’s for the people that it was originally intended for.” (Watch)
    Senator Jim Banks on Fox News Sunday
    “This is the biggest spending cut in American history — a $1.6 trillion spending cut, getting rid of the Green New Deal scams from the Biden Administration, and it’s the biggest tax cut in American history for working class families.” (Watch)
    “Everyone in my family is blue collar, working class. They’re all going to get socked by another $2,000, on average, every year. They already tell me they can’t keep up right now, and the Democrats want them to pay more in taxes? … Democrats are focused on screwing the working class with higher taxes … President Trump and Republicans are serious about cutting taxes on the people who need it the most.” (Watch)
    Senator Katie Britt on State of the Union
    “We’re going to make sure that hardworking people can keep more of their money. We’re going to make sure that we have secure borders — not just now, but for generations to come. We’re going to make sure that we have a strong national defense so that our warfighter is the best trained, equipped, and ready across the planet. We’re going to unleash American energy … We want to make sure that these programs are available for the people who need them and we want to make sure that people who are working know that we see them and that they have a great opportunity to achieve the American Dream — and that’s what this bill does.” (Watch)
    “The reforms in this bill are necessary and we’re going to deliver actual solutions to the American people … This bill does No Tax on Tips, it does No Tax on Overtime. Real, hardworking Americans are going to see results from this.” (Watch)

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Young Kim Pushes to Boost U.S. Critical Minerals Supply Chain

    Source: United States House of Representatives – Representative Young Kim (CA-39)

    Washington, DC – Following her House Foreign Affairs East Asia & Pacific Subcommittee hearing titled, “Breaking China’s Chokehold on Critical Mineral Supply Chains,” Chairwoman Young Kim (CA-40) joined Ranking Member Ami Bera (CA-06) and Rep. James Moylan of Guam introduced the Minerals Security Partnership (MSP) Authorization Act. 

    The Minerals Security Partnership (MSP) Authorization Act formally authorizes the State Department to coordinate U.S. efforts across the MSP — a coalition of 14 countries and the European Union — to accelerate responsible investment in critical mineral projects around the world. Through diplomatic leadership and interagency coordination with partners like the DFC, USTDA, and EXIM Bank, the bill supports the development of secure, resilient, and sustainable supply chains. 

    “Xi Jinping should not determine whether the United States can obtain critical minerals we need to power technologies that run our lives, from cell phones to defense systems,” said Congresswoman Kim. “The United States must work with our allies to strengthen our critical mineral supply chains and protect our economy and national security from the Chinese Communist Party. The Minerals Security Partnership Authorization Act will allow us to do exactly that.” 

    “Minerals like lithium, cobalt, and rare earth elements are essential to powering our economy, clean energy future, and national defense,” said Representative Bera. “The People’s Republic of China (PRC) currently holds a near-monopoly over many of these supply chains and has shown a willingness to weaponize that control. Securing critical minerals is not just an economic issue — it is a national security imperative. That’s why it is critical that the United States lead efforts like the Minerals Security Partnership to diversify supply chains and strengthen America’s long-term competitiveness.” 

    “This bill strengthens the international and domestic efforts to secure mineral supply chains and relative advanced manufacturing, all of which are critical to our economic needs. These diversified supply chains allow for a stronger partnership between our allies, while significantly reducing outsourcing from adversarial counterparts. By forging a new database that collects information to attract investments, this bill will foster the collaboration between civil and private sectors to prioritize projects aligned with national security and environmental standards,” said Rep. Moylan. “I want to thank Rep. Bera for championing this initiative utilizing the full potential of our mineral wealth to create a clean and domestic circular economy while ensuring these practices adhere to environmental guidelines. Together, we are committed to building a self-sustaining economy with resources found at home to advance essential technology and defense.” 

    This bipartisan bill promotes international cooperation to secure critical mineral supply chains by: 

    • Provide diplomatic leadership within the MSP to identify, prioritize, and support strategic projects through every stage of the critical minerals supply chain — from extraction to processing to deployment in advanced technologies; 
    • Coordinate with partner governments and financial institutions to mobilize responsible investment and reduce dependency on authoritarian regimes; 
    • Engage with producing countries through the MSP Forum to foster transparent, high-standard investment environments; 
    • Promote environmental safeguards, labor protections, and community benefits alongside economic development. 

    Established in 2022, the Minerals Security Partnership has emerged as a key platform for aligning international investment and diplomatic engagement around critical minerals. This bill lays the groundwork for continued U.S. leadership in shaping a more secure and sustainable global minerals landscape. 

    MIL OSI USA News –

  • MIL-OSI: Veritex Holdings, Inc. Announces Date Change for Second Quarter 2025 Earnings Release and Cancellation of Conference Call

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, July 15, 2025 (GLOBE NEWSWIRE) — Veritex Holdings, Inc. (Nasdaq: VBTX), the parent holding company for Veritex Community Bank, today announced a date change for release of its second quarter 2025 earnings results. Veritex will now release its second quarter 2025 earnings results before the opening of the market on Friday, July 18, 2025. The earnings release will be available on Veritex’s website, https://ir.veritexbank.com/.

    Veritex also announced the cancellation of its second quarter 2025 investor conference call that Veritex had announced would occur on Wednesday, July 23, 2025 due to the announcement on July 14, 2025 that Veritex has entered into a definitive agreement to be acquired by Huntington Bancshares Incorporated, subject to regulatory approvals and customary closing conditions. There will be no conference call scheduled this quarter relating to Veritex’s second quarter results.

    About Veritex Holdings, Inc.

    Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state-chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System. For more information, visit www.veritexbank.com.

    Source: Veritex Holdings, Inc.

    CAUTION REGARDING FORWARD-LOOKING STATEMENTS

    This communication may contain certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements about the benefits of the proposed transaction, the plans, objectives, expectations and intentions of Veritex and Huntington, the expected timing of completion of the transaction, and other statements that are not historical facts and are subject to numerous assumptions, risks, and uncertainties that are beyond the control of Veritex and Huntington. Such statements are subject to numerous assumptions, risks, estimates, uncertainties and other important factors that change over time and could cause actual results to differ materially from any results, performance, or events expressed or implied by such forward-looking statements, including as a result of the factors referenced below. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, continue, believe, intend, estimate, plan, trend, objective, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.

    Veritex and Huntington caution that the forward-looking statements in this communication are not guarantees of future performance and involve a number of known and unknown risks, uncertainties and assumptions that are difficult to assess and are subject to change based on factors which are, in many instances, beyond Veritex’s and Huntington’s control. While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements or historical performance: changes in general economic, political, or industry conditions; deterioration in business and economic conditions, including persistent inflation, supply chain issues or labor shortages, instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs; the impact of pandemics and other catastrophic events or disasters on the global economy and financial market conditions and our business, results of operations, and financial condition; the impacts related to or resulting from bank failures and other volatility, including potential increased regulatory requirements and costs, such as FDIC special assessments, long-term debt requirements and heightened capital requirements, and potential impacts to macroeconomic conditions, which could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital; unexpected outflows of uninsured deposits which may require us to sell investment securities at a loss; changing interest rates which could negatively impact the value of our portfolio of investment securities; the loss of value of our investment portfolio which could negatively impact market perceptions of us and could lead to deposit withdrawals; the effects of social media on market perceptions of us and banks generally; cybersecurity risks; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve; volatility and disruptions in global capital, foreign exchange and credit markets; movements in interest rates; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services including those implementing our “Fair Play” banking philosophy; changes in policies and standards for regulatory review of bank mergers; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations, including those related to the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III regulatory capital reforms, as well as those involving the SEC, OCC, Federal Reserve, FDIC, CFPB and state-level regulators; the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement between Veritex and Huntington; the outcome of any legal proceedings that may be instituted against Veritex and Huntington; delays in completing the transaction; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction); the failure to obtain Veritex shareholder approval or to satisfy any of the other conditions to the transaction on a timely basis or at all; the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Veritex and Huntington do business; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business, customer or employee relationships, including those resulting from the announcement or completion of the transaction; the ability to complete the transaction and integration of Veritex and Huntington successfully; the dilution caused by Huntington’s issuance of additional shares of its capital stock in connection with the transaction; and other factors that may affect the future results of Veritex and Huntington. Additional factors that could cause results to differ materially from those described above can be found in Veritex’s Annual Report on Form 10-K for the year ended December 31, 2024 and in its subsequent Quarterly Reports on Form 10-Q, including for the quarter ended March 31, 2025, each of which is on file with the SEC and available on Veritex’s investor relations website, ir.veritexbank.com, under the heading “Financials” and in other documents Veritex files with the SEC, and in Huntington’s Annual Report on Form 10-K for the year ended December 31, 2024 and in its subsequent Quarterly Reports on Form 10-Q, including for the quarter ended March 31, 2025, each of which is on file with the Securities and Exchange Commission (the “SEC”) and available in the “Investor Relations” section of Huntington’s website, http://www.huntington.com, under the heading “Investor Relations” and in other documents Huntington files with the SEC.

    All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made and are based on information available at that time. Neither Veritex nor Huntington assume any obligation to update forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in circumstances or other factors affecting forward-looking statements that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. If Veritex or Huntington update one or more forward-looking statements, no inference should be drawn that Veritex or Huntington will make additional updates with respect to those or other forward-looking statements. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.

    IMPORTANT ADDITIONAL INFORMATION

    In connection with the proposed transaction, Huntington will file with the SEC a Registration Statement on Form S-4 that will include a Proxy Statement of Veritex and a Prospectus of Huntington, as well as other relevant documents concerning the proposed transaction. The proposed transaction involving Huntington and Veritex will be submitted to Veritex’s shareholders for their consideration. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. INVESTORS AND SHAREHOLDERS OF VERITEX ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS REGARDING THE TRANSACTION WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Shareholders will be able to obtain a free copy of the definitive proxy statement/prospectus, as well as other filings containing information about Huntington and Veritex, without charge, at the SEC’s website (http://www.sec.gov). Copies of the proxy statement/prospectus and the filings with the SEC that will be incorporated by reference in the proxy statement/prospectus can also be obtained, without charge, by directing a request to Huntington Investor Relations, Huntington Bancshares Incorporated, Huntington Center, 41 South High Street, Columbus, Ohio 43287, (800) 576-5007 or to Veritex Investor Relations, Veritex Holdings, Inc., 8214 Westchester Drive, Suite 800, Dallas, Texas 75225, (972) 349-6200.

    PARTICIPANTS IN THE SOLICITATION

    Huntington, Veritex, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Veritex in connection with the proposed transaction under the rules of the SEC. Information regarding the interests of the directors and executive officers of Huntington and Veritex and other persons who may be deemed to be participants in the solicitation of shareholders of Veritex in connection with the transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the definitive proxy statement/prospectus related to the transaction, which will be filed by Huntington with the SEC. Information regarding Huntington’s directors and executive officers is available in its definitive proxy statement relating to its 2025 Annual Meeting of Shareholders, which was filed with the SEC on March 6, 2025, and other documents filed by Huntington with the SEC. Information regarding Veritex’s directors and executive officers is available in its definitive proxy statement relating to its 2025 Annual Meeting of Shareholders, which was filed with the SEC on April 29, 2025, and other documents filed by Veritex with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials filed with the SEC. Free copies of this document may be obtained as described above under “Important Additional Information.”

    The MIL Network –

  • MIL-OSI United Kingdom: Defra Secretary of State at Water UK Reception

    Source: United Kingdom – Executive Government & Departments 2

    Speech

    Defra Secretary of State at Water UK Reception

    Secretary of State for Environment, Food, and Rural Affairs delivered a speech at the UK Water Reception hosted at the Queen Elizabeth II Centre

    This is a moment for Government and industry to join together to unlock the potential of our water sector and grow our economy in every region of this country.

    We need water for economic growth.

    Communities can’t function without it. Water is essential for every household and business across the country. We need it to grow the food that feeds our families. To build 1.5 million new homes, hospitals, schools and roads. To cool power stations that supply our electricity and the data centres to run our IT systems. 

    Water flows through our breathtaking countryside, boosting our tourism and leisure industries.

    The public were not aware at the time of the last general election, this country was facing water rationing within ten years.  There was not enough water to meet the growing demands of our population. As David just said, no new reservoirs had been built in 30 years.

    Water infrastructure was outdated and crumbling. Leaking pipes wasted valuable water supplies. Record levels of sewage polluted our waterways.

    [Political section removed]

    In just one year, we’ve introduced tough new measures to clean up our rivers, lakes and seas. Including ringfencing customers’ money so it can only be spent on what it was intended for: upgrading and improving water infrastructure.

    Our Water Special Measures Bill became law in February, giving the regulators new powers to hold water companies to account.

     And Sir Jon Cunliffe, the former Deputy Governor of the Bank of England, will soon complete the biggest review of the water sector in a generation to ensure we have a robust regulatory framework to clean up our waterways, build the infrastructure we need for a reliable water supply, and restore public confidence in this vital economic sector.

    He will publish his full findings next week, and the Government response will follow quickly afterwards.

    This strong action has laid the groundwork for the sector to move forward.

    Today is the start of a new partnership between the water sector and government.

    Turning the page on the past to begin a new chapter of growth and opportunity.

    The water sector is a priority for economic growth.

    We’ve worked together and secured £104 billion pounds of private sector investment in the water sector over the next five years.

    That’s the biggest private sector investment into our water sector in its entire history, and the second biggest investment in any part of the economy over the lifetime of this parliament – and getting this investment right matters.

    It will build and upgrade infrastructure in every region of the country – cutting sewage in half by 2030 and cleaning up our rivers, lakes and seas.

    So, parents don’t have to worry about letting their children splash about in the water. So, we can experience the majesty of national treasures like Lake Windermere. Or enjoy a moment of calm by going for a swim in nature.

    It will fund nine new reservoirs and nine large-scale water transfer schemes, and reduce leaks from water pipes.

    So families – like those in Guildford –   don’t have to rely on bottled water when their water supply is disrupted. So businesses don’t lose profits when they’re forced to shut because the taps have run dry. So farmers can keep growing food in the face of increasingly unstable and unpredictable weather patterns.

    This vast investment will fuel economic growth.

    Over the next 5 years, it will create 30 thousand good, well-paid jobs in every corner of the country.

    Jobs that are rooted in the communities they serve.

    Money to upgrade roads, schools and hospitals. Encouraging businesses to invest in the area. Attracting more visitors to support rural tourism.

    This investment will make sure we can build 1.5 million homes this Parliament, construct major infrastructure projects to support the green energy transition, and power new industries such as data centres that can unlock the UK’s AI potential.

    This is what we mean when we talk about the Government’s Plan for Change.

    We must work together to make sure that £104 billion is spent in the best way to secure the improvements we want to see, and in the timescales we want to see them.

    Earlier this year, my colleague the Water Minister Emma Hardy and I toured the country to see how this investment will be spent.

    Around Cambridge, one of the UK’s fastest growing economies, investment in water infrastructure will support 4500 new homes, community facilities such as schools and leisure centres, and office and laboratory space in the city centre.

    On the River Avon, Wessex Water are investing £35 million pounds to expand the Saltford Water Recycling Plant, increasing their wastewater treatment capacity by 40% to meet rising demand, and creating local jobs near Bath.

    And in Hampshire, work’s begun on the Havant Thicket Reservoir, the first reservoir to be built in the South East since the 1970s and when it’s full, this will supply water to around 160,000 people and, during construction, it will generate more than £10 million a year to the South East economy,  with construction jobs and apprenticeships.

    We need to get spades in the ground in every region.

    I’ve set up a Water Delivery Taskforce to bring together Government, regulators, and water industry representatives, to ensure water companies complete their planned investments on time and on budget – providing value for money for customers.    

    The Taskforce will make sure we have the water, wastewater and drainage needed for the new developments and infrastructure that will drive long-term economic growth.

    Energy and Utility Skills estimate 43,000 people will be needed to take up jobs in the water industry over the next five years.

    That’s good, skilled, well paid jobs such as bioresources technicians, hydraulics specialists, engineers, construction workers, and surveyors.

    It’s imperative we have the skilled workforce in place.

    Because without it, all this investment will not be possible.

    That’s why we’re here today. To work together to ensure the industry and supply chain have the capacity to meet our shared ambitions for a successful, growing water sector underpinning a successful, growing economy.

    This demands a whole Government approach.

    Torsten Bell, the Minister for Pensions, and Baroness Jacqui Smith, Minister for Skills, will both be here today, will give more details on how we plan to do this via our employment and skills programmes.

    And I’m delighted that later today I’ll sign our ‘Water Skills Pledge’ with Alison McGovern, the Minister for Employment – affirming our commitment to ensuring the water sector has the skills and workforce it needs to succeed.

    We will work together to show people that a career in the water industry and its supply chain is something they can be proud of for a lifetime.

    Something that gives you new skills, exciting challenges and can set you up for life – wherever in this country you live.

    These are jobs that make a difference. Making sure people have a reliable, clean water supply, protecting our food security, cleaning up our waterways – and stimulating economic growth in every part of the country to raise living standards and wages and improve people’s lives.

    This is a fresh start, a moment to build new partnerships and set the direction for the water sector of the future.

    We are working together to bring about the change that people in this country voted for last year. It’s an exciting time for the water industry, and I’m proud to stand alongside you as we chart the journey forwards to success.

    Thank you.

    Updates to this page

    Published 15 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Rachel Reeves Mansion House 2025 speech

    Source: United Kingdom – Executive Government & Departments 3

    Speech

    Rachel Reeves Mansion House 2025 speech

    Chancellor of the Exchequer Rachel Reeves delivered her second Mansion House speech on the evening of Tuesday 15 July 2025.

    Lord Mayor, Governor, Ladies and Gentlemen.

    My thanks go to the City of London Corporation for hosting us here this evening…

    …and to the Lord Mayor for his address…

    …as well as to the Economic Secretary to the Treasury for all her hard work.

    It is a year since my party was elected to office…

    …and year since I was appointed as Chancellor of the Exchequer.

    Recently, on a visit to a primary school, a young girl asked me –

    “if you could have any job in the world, what would it be?”

    Given the events of the last few weeks, I suspect many of you would have sympathised if I had said –

     “anything but the Chancellor.”

    But I didn’t.

    Because I am proud to stand here tonight and address you for a second time at Mansion House…

    …as the Chancellor of Exchequer.

    This evening, I want to talk about the progress we have made over the past year:

    Restoring stability;

    Securing investment;

    And delivering reform.

    And I want to talk about the future:

    The economy that we are building;

    The opportunities that we are seizing;

    And the prosperity that we together are creating.

    In my Mais lecture last year, I talked about how a resilient economy must be built on security.

    And the importance of that security has been brought into sharp focus in recent months.

    As the world changes before our eyes, and global economies are becoming more uncertain.

    The job of a responsible government is not just to watch this change –  

    We must step up, not step back.

    We must build a dynamic economy on strong and secure foundations…

    …where success is not limited to a handful of sectors, a few people, or certain parts of the country…

    …but where the rewards of hard work are shared…

    …harnessing the contribution of every part of Britain.

    This is the foundation of an economy and a country that is more active and more confident…

    …where people and business look to the future and talk about hope…

    …talk about opportunity…

    …assured of their own capability, and of the ability of our country to boldly face the challenges ahead…

    …and certain in the prize when they succeed:

    Of higher wages and higher living standards;

    The renewal of Britain in every home and every high street.

    To put it simply: a Britain that is better off.

    The financial services sector is critical to my ambitions for our country.

    It is one of the largest and most successful sectors in the UK…

    …worth around 10% of total economic output…

    …and supporting 1.2 million jobs in clusters right around the UK:

    In Cardiff, and Belfast and Edinburgh where we have growing Fintechs;

    In Manchester, where BNY have their new Angel Square hub;

    And in London, the financial centre of the world.

    And financial services is also critical in people’s everyday lives:

    Whether that’s a couple looking to buy their first home;

    A budding entrepreneur wanting to start  their first business;

    Or people getting more out of the money they’re putting aside for the future.  

    And that’s what these plans, that I will set out tonight, will deliver.

    Growth must be built on a platform of economic stability.

    When we came into office…

    …it was our government, this government, that restored Britain’s reputation as a beacon of stability by putting the public finances back on a firm footing…

    …getting debt on a downward path, while investing prudently alongside business.

    That was – and still is – the right choice…

    …because there is nothing progressive – [political redaction] – about a government that simply spends more and more each year on debt interest, instead of on the priorities of ordinary working people.

    And fiscal stability is a choice that reflects economic reality.

    National debt remains at its highest level since the 1960s…

    …and globally, the cost of borrowing has increased in recent years.

    This is not the inheritance that I would have chosen…

    …but it is the reality.

    And that is why the Prime Minister, and I and this government are remain committed to our non-negotiable fiscal rules.

    The stability that we have restored is already delivering:

    Four cuts in interest rates by the Bank of England since the General Election, reducing the cost of mortgages and business lending;

    [political redaction]

    And investment is returning to our economy.

    At the Spending Review, I set out £120 billion of public investment over the next five years…

    …and last month, the Prime Minister confirmed that the UK has attracted £120 billion of private investment – in just the last 12 months.

    In a globally competitive market…

    …firms all over the world are choosing to invest in Britain…

    …as one of the best places to start up, to scale up and to list:

    The FTSE is at an all-time high, today, for the first time ever, breaking 9000 points;

    London is home to the deepest equity capital market in Europe;

    It is the third biggest venture capital market globally;

    And the London Stock Exchange is the most international in the world…

    …with the FTSE soon to include shares listed not just in sterling but also in dollars and in euros.

    Last year, to ensure the UK remains competitive, we made significant changes to the listing regime…

    …for example, relaxing dual class share rules to give founders flexibility to pursue their growth ambitions.

    The FCA have today published their final Prospectus Rules…

    …simplifying the listing and capital raising processes for firms of all sizes.

    And, as I committed to last year at Mansion House, we are delivering PISCES…

    …a brand-new type of stock exchange for private company share trading…

    …with the first trading events due to take place later this year.

    And I am announcing a new Listings Taskforce with the Office for Investment…

    …to attract the best businesses in the world to IPO here in London.

    But we must do more to ensure that British savers benefit from the success of growing British businesses.

    Last year at Mansion House, I set out an overhaul of our pensions system…

    …and the Pension Schemes Bill, led by my colleague the Pensions Minister, will be signed into law in the next few months.

    The creation of Defined Contribution and Local Government Pension Scheme megafunds…

    …will mean larger and more powerful pots of funding invested productively across the country.

    Pension funds, and this government, are united in our determination to deliver higher returns for savers and more investment in the economy.

    That is why, since last year, funds covering the majority of the Defined Contribution market have committed to the Mansion House Accord…

    …pledging to invest at least 10% of their main funds into private assets such as infrastructure and growth markets…

    … with at least half of that going into UK projects.

    And I would also like to congratulate the Lord Mayor on his employer pension pledge…

    I am delighted, Lord Mayor, to see businesses such as Tesco, First Group and Octopus making this commitment…

    …and like you Lord Mayor I look forward to seeing more companies joining up.

    The UK economy is enhanced by its outward-facing approach…

    …and this year we have built on that with our new trade deals:             

    A trade deal with the United States, where we were the first country to sign a deal so that British businesses are better protected against tariffs, and where we have worked with our G7 colleagues to avert new taxes.

    I’m pleased to welcome US Securities and Exchange Commissioner Hester Peirce here tonight…

    …who is driving forward proposals for greater digital collaboration between our two financial centres. Thank you for being here.

    And a trade deal with the European Union, where our strategic partnership will slash red tape and reduce costs for business…

    …as well as providing a platform to further deepen our relationship in future.

    And I am pleased to welcome the European Union’s Financial Services Commissioner Maria Luis Albuquerque.

    Maria Luis, we met earlier today to discuss our continued cooperation on financial services, and I look forward to working more closely with you.

    And a trade deal with India, with whom our recent FTA agreement will give us the best trading relationship of any country in the world with India.

    And we have concluded the first Economic and Financial Dialogue with China in six years.

    And we are implementing the Berne Financial Services Agreement with Switzerland too.

    At the G20 in South Africa later this week I will continue the call I made at the IMF Spring meetings –

    …for countries to come together to tackle trade imbalances and drive growth…

    …underpinned by stronger multilateral institutions.

    I look forward to hearing more on this from the Governor in his address…

    …and I would like to congratulate him on his recent appointment as Chair of the Financial Stability Board…

    …a testament to both Andrew and this government’s commitment to international standards.

    Britain is open for business;

    Open for trade;

    Open for investment.

    And that’s why we must be willing to change how we do things to stay competitive in that global economy.

    We have ripped up the planning rules;

    We have swept away regulations;

    We have published our industrial strategy;

    And today we can go further, by announcing the Financial Services Growth and Competitiveness Strategy…

    …including my Leeds Reforms…

    …named after one of the UK’s great hubs for financial services…

    …and the city that I have been proud to represent as a Member of Parliament for fifteen years.

    These are the most wide-ranging package of reforms to financial services regulation in more than a decade.

    At Mansion House last year, I said we must regulate for growth and not just for risk…

    …and we are delivering on that commitment…

    …while continuing to protect financial stability…

    …so that the benefits of a thriving and growing financial services sector can be realised for people all over Britain.

    Let me set out the details of that package in four parts:

    First, I am rolling back regulation that has gone too far in seeking to eliminate risk;

    Second, I am delivering targeted changes in the areas where the UK already has particular strengths;

    Third, I am making changes to capital requirements to unlock more productive capital;

    And fourth, I am introducing measures to boost retail investment so that more savers can reap the benefits of UK economic success.

    I will begin with the biggest reforms.

    As I promised last year, I am delivering the most significant reform to the Financial Ombudsman Service since its inception…

    …including proposing to limit for ten years for claims.

    This will speed up the time it takes for consumers to get redress for their complaints…

    … returning it to its original purpose as a simple, impartial arbitration service…

    …and ensuring that it no longer acts as a quasi-regulator.

    And I welcome the announcement today, made by the Financial Ombudsman Service that will reduce the interest rate it applies before a decision from 8% to base rate plus 1%.

    I am introducing new targets for the FCA and PRA to cut times on authorisations and approvals…

    …and I have tasked the FCA with assessing the impact of the Consumer Duty and whether it unduly effects wholesale activity…

    …to ensure that regulators are really regulating for growth.

    And I am streamlining the Senior Managers and Certification Regime…

    …reducing the burdens it imposes on firms by 50%…

    …and slashing approval timelines…

    …so you can bring in talent to your business more quickly.

    My next set of reforms provide targeted regulatory support to the areas where the UK does already have a comparative advantage.

    For insurance – where Britain is the destination of choice for underwriting complex, specialised and high-value risk…

    …I am introducing a new competitive framework for captive insurance.

    For asset management – where the UK is the world’s second largest centre…

    …I am futureproofing the regulatory regime and will publish draft legislation in early 2026.

    For sustainable finance, I am determined to focus our efforts on policies that matter most to our world-leading sector and support investment in the transition…

    …so, after consultation and consideration, I have decided not to pursue a green taxonomy…

    …but instead work with regulators through the Transition Finance Council to capitalise on the £200 billion opportunity of the global transition to net zero.

    And for Fintech – where almost half of Europe’s Fintech’s are already based here in the UK…

    …the PRA and FCA are launching a scale-up unit to support innovative firms to grow in the UK, including in our world-leading payments system.

    And I will drive forward developments in blockchain technology…

    …including tokenised securities and stablecoins…

    …and an ambitious design for a new digital gilt instrument…

    …so that UK financial services can be at the forefront of digital asset innovation.

    And because I believe the UK is the best place in the world for financial services…

    …today I’ve announced the Office for Investment’s new concierge service.

    Launching by October this year, it will provide a tailored service to companies considering setting up and expanding in the UK…

    …and I am grateful to Chris Hayward from the City of London Corporation, for his work to drive this forward.

    Thank you Chris.

    Now, let me turn to the changes I am making to capital requirements…

    …to allow UK banks to do more lending and release more capital for investment into our infrastructure and into our businesses.

    First, I am supporting the Bank of England’s decision to raise the asset threshold for MREL requirements to between £25 and £40 billion.

    This will benefit the challenger banks and bring increased competition and innovation to the market…

    …and support those businesses to expand their footprint here in the UK.

    Second, I am confirming our approach to Basel 3.1…

    …implementing lower capital requirements for domestically focussed banks from January 2027…

    …while preserving flexibility on our approach for international banks to ensure the UK always remains competitive while aligning with international standards.

    Third, I have committed to meaningful reform of the UK’s ringfencing regime…

    …recognising that now is the time to go further in tackling inefficiency and boosting growth…

    …while retaining the aspects of the regime that support financial stability and protect consumer deposits.

    And fourth, following the new, growth focussed remit letter I sent in November…

    …I welcome the Financial Policy Committee’s announcement that it will review the overall level of bank capital needed for UK financial stability…

    …reporting back to me by the end of this year.

    The review will inform the work the Treasury is taking forward with the Bank…

    …to ensure the prudential framework strikes the optimal balance to deliver resilience, growth and competitiveness.

    And I welcome the recent changes the Financial Policy Committee has announced to the loan-to-income limit on mortgage lending…

    …which the PRA and FCA are implementing immediately…

    …that means tens of thousands more people could be able to get a mortgage in the next year alone…

    …with Nationwide already offering its ‘Helping Hand’ mortgage to more first time-buyers…

    …supporting alone an additional 10,000 each year.

    And my thanks to Dame Debbie Crosbie for her leadership.

    My final set of reforms are focussed on boosting savings investment.

    I recognise the potential for ISA reform to improve returns for savers…

    …and access capital for UK businesses.

    I have confirmed that Long-Term Asset Funds can be included in stocks and shares ISAs…

    …allowing long-term ISA investors to benefit from this innovative product.

    And I will continue to consider further changes to ISAs…

    …engaging widely in the coming months…

    …and recognising that despite the differing views on the right approach…

    …we are united in wanting better outcomes for both UK savers and for the UK economy.

    For too long, we have presented investment in too negative a light…

    …quick to warn people of the risks, without giving proper weight to the benefits…

    …and our tangled system of financial advice and guidance…

    …has meant people cannot get the right support to make decisions for themselves. 

    That is why we are working with the FCA to introduce a brand-new type of targeted support for consumers ahead of the new financial year.

    And I also welcome the campaign to promote the benefits of retail investment which will launch next April…

    …and the action to look at our current approach to risk warnings – and that will report back in January…

    …and I’m grateful to Chris Cummings of the Investment Association for spearheading both of those initiatives.

    Thank you very much Chris.

    Today, I have placed financial services at the heart of this government’s growth mission…

    …recognising that Britain cannot succeed and meet its growth ambitions…

    …without a financial sector that is fighting fit and thriving.

    The reforms I have set out this evening are the next chapter in how I intend to support this growth…

    …and I thank Gwyneth Nurse and her brilliant team at the Treasury for all of their hard work on this package.

    I knew that Gwyneth would get the biggest clap …

    I am also pleased to have been able to work in lockstep with our regulators…

    …and I want to extend my thanks both to Nikhil Rathi and Sam Woods for their innovation and the work they have done in response to my updated remit letters last year.

    Thank you Nikhil and thank you Sam.

    We have been bold in regulating for growth in financial services…

    …and I have been clear on the benefits that that will drive…

    …with a ripple effect felt right across all sectors of our economy…

    …putting pounds in the pockets of working people.

    Getting better deals on their mortgages…

    better returns on their savings

    and more jobs paying good wages across our country

    As I look ahead…

    …it is clear that we must do more.

    In too many areas, regulation still acts as a boot on the neck of businesses…

    …choking off the enterprise and innovation that is the lifeblood of economic growth.

    Regulators in other sectors must take up the call I make this evening…

    …not to bend to the temptation of excessive caution…

    …but to boldly regulate for growth…

    …in the service of prosperity for our whole country.

    I’m really proud of how far we have come in the last year as government and as a country.

    I know that the changes that we have made will reform and transform our economy and our country.

    And I know that you will waste no time in seizing the opportunities that lie ahead:

    To build a stronger economy;

    To deliver the renewal of Britain;

    And to make working people in all parts of Britain better off.

    Thank you very much.

    Updates to this page

    Published 15 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Defra Secretary of State at UK Water Reception

    Source: United Kingdom – Executive Government & Departments

    Speech

    Defra Secretary of State at UK Water Reception

    Secretary of State for Environment, Food, and Rural Affairs delivered a speech at the UK Water Reception hosted at the Queen Elizabeth II Centre

    This is a moment for Government and industry to join together to unlock the potential of our water sector and grow our economy in every region of this country.

    We need water for economic growth.

    Communities can’t function without it. Water is essential for every household and business across the country. We need it to grow the food that feeds our families. To build 1.5 million new homes, hospitals, schools and roads. To cool power stations that supply our electricity and the data centres to run our IT systems. 

    Water flows through our breathtaking countryside, boosting our tourism and leisure industries.

    The public were not aware at the time of the last general election, this country was facing water rationing within ten years.  There was not enough water to meet the growing demands of our population. As David just said, no new reservoirs had been built in 30 years.

    Water infrastructure was outdated and crumbling. Leaking pipes wasted valuable water supplies. Record levels of sewage polluted our waterways.

    [Political section removed]

    In just one year, we’ve introduced tough new measures to clean up our rivers, lakes and seas. Including ringfencing customers’ money so it can only be spent on what it was intended for: upgrading and improving water infrastructure.

    Our Water Special Measures Bill became law in February, giving the regulators new powers to hold water companies to account.

     And Sir Jon Cunliffe, the former Deputy Governor of the Bank of England, will soon complete the biggest review of the water sector in a generation to ensure we have a robust regulatory framework to clean up our waterways, build the infrastructure we need for a reliable water supply, and restore public confidence in this vital economic sector.

    He will publish his full findings next week, and the Government response will follow quickly afterwards.

    This strong action has laid the groundwork for the sector to move forward.

    Today is the start of a new partnership between the water sector and government.

    Turning the page on the past to begin a new chapter of growth and opportunity.

    The water sector is a priority for economic growth.

    We’ve worked together and secured £104 billion pounds of private sector investment in the water sector over the next five years.

    That’s the biggest private sector investment into our water sector in its entire history, and the second biggest investment in any part of the economy over the lifetime of this parliament – and getting this investment right matters.

    It will build and upgrade infrastructure in every region of the country – cutting sewage in half by 2030 and cleaning up our rivers, lakes and seas.

    So, parents don’t have to worry about letting their children splash about in the water. So, we can experience the majesty of national treasures like Lake Windermere. Or enjoy a moment of calm by going for a swim in nature.

    It will fund nine new reservoirs and nine large-scale water transfer schemes, and reduce leaks from water pipes.

    So families – like those in Guildford –   don’t have to rely on bottled water when their water supply is disrupted. So businesses don’t lose profits when they’re forced to shut because the taps have run dry. So farmers can keep growing food in the face of increasingly unstable and unpredictable weather patterns.

    This vast investment will fuel economic growth.

    Over the next 5 years, it will create 30 thousand good, well-paid jobs in every corner of the country.

    Jobs that are rooted in the communities they serve.

    Money to upgrade roads, schools and hospitals. Encouraging businesses to invest in the area. Attracting more visitors to support rural tourism.

    This investment will make sure we can build 1.5 million homes this Parliament, construct major infrastructure projects to support the green energy transition, and power new industries such as data centres that can unlock the UK’s AI potential.

    This is what we mean when we talk about the Government’s Plan for Change.

    We must work together to make sure that £104 billion is spent in the best way to secure the improvements we want to see, and in the timescales we want to see them.

    Earlier this year, my colleague the Water Minister Emma Hardy and I toured the country to see how this investment will be spent.

    Around Cambridge, one of the UK’s fastest growing economies, investment in water infrastructure will support 4500 new homes, community facilities such as schools and leisure centres, and office and laboratory space in the city centre.

    On the River Avon, Wessex Water are investing £35 million pounds to expand the Saltford Water Recycling Plant, increasing their wastewater treatment capacity by 40% to meet rising demand, and creating local jobs near Bath.

    And in Hampshire, work’s begun on the Havant Thicket Reservoir, the first reservoir to be built in the South East since the 1970s and when it’s full, this will supply water to around 160,000 people and, during construction, it will generate more than £10 million a year to the South East economy,  with construction jobs and apprenticeships.

    We need to get spades in the ground in every region.

    I’ve set up a Water Delivery Taskforce to bring together Government, regulators, and water industry representatives, to ensure water companies complete their planned investments on time and on budget – providing value for money for customers.    

    The Taskforce will make sure we have the water, wastewater and drainage needed for the new developments and infrastructure that will drive long-term economic growth.

    Energy and Utility Skills estimate 43,000 people will be needed to take up jobs in the water industry over the next five years.

    That’s good, skilled, well paid jobs such as bioresources technicians, hydraulics specialists, engineers, construction workers, and surveyors.

    It’s imperative we have the skilled workforce in place.

    Because without it, all this investment will not be possible.

    That’s why we’re here today. To work together to ensure the industry and supply chain have the capacity to meet our shared ambitions for a successful, growing water sector underpinning a successful, growing economy.

    This demands a whole Government approach.

    Torsten Bell, the Minister for Pensions, and Baroness Jacqui Smith, Minister for Skills, will both be here today, will give more details on how we plan to do this via our employment and skills programmes.

    And I’m delighted that later today I’ll sign our ‘Water Skills Pledge’ with Alison McGovern, the Minister for Employment – affirming our commitment to ensuring the water sector has the skills and workforce it needs to succeed.

    We will work together to show people that a career in the water industry and its supply chain is something they can be proud of for a lifetime.

    Something that gives you new skills, exciting challenges and can set you up for life – wherever in this country you live.

    These are jobs that make a difference. Making sure people have a reliable, clean water supply, protecting our food security, cleaning up our waterways – and stimulating economic growth in every part of the country to raise living standards and wages and improve people’s lives.

    This is a fresh start, a moment to build new partnerships and set the direction for the water sector of the future.

    We are working together to bring about the change that people in this country voted for last year. It’s an exciting time for the water industry, and I’m proud to stand alongside you as we chart the journey forwards to success.

    Thank you.

    Updates to this page

    Published 15 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI: River Valley Community Bancorp Announces 2nd Quarter Results (Unaudited)

    Source: GlobeNewswire (MIL-OSI)

    YUBA CITY, Calif., July 15, 2025 (GLOBE NEWSWIRE) — River Valley Community Bancorp (OTC markets: RVCB) with its wholly owned subsidiary, River Valley Community Bank (collectively referred to as the “Bank”), today announced financial results for the quarter ended June 30, 2025. The full earnings release can be found on the Bank’s Investor Relations website at Investor Relations – River Valley Community Bank.

    The Bank remains highly rated with BauerFinancial, and Depositaccounts.com and serves its customer base through its offices located at:

    • 1629 Colusa Avenue, Yuba City, CA
    • 580 Brunswick Rd, Grass Valley, CA
    • 905 Lincoln Way, Auburn, CA
    • 904 B Street, Marysville, CA
    • 401 Ryland Street, Ste. 205, Reno, NV (Loan Production Office)
    • 1508 Eureka Rd., Ste. 100, Roseville, CA (Loan Production Office)
    • 2901 Douglas Blvd., Ste. 140, Roseville, CA – Opening in 3Q2025!

    The Bank offers a full suite of competitive products, services, and banking technology. For more information please visit our website at www.myrvcb.com or contact John M. Jelavich at (530) 821-2469.

    The MIL Network –

  • MIL-OSI: White River Bancshares Co. Announces Annual Cash Dividend of $0.50 Per Diluted Share

    Source: GlobeNewswire (MIL-OSI)

    FAYETTEVILLE, Ark., July 15, 2025 (GLOBE NEWSWIRE) — White River Bancshares Company (OTCQX: WRIV) (the “Company”), the holding company for Signature Bank of Arkansas (the “Bank”), today announced its Board of Directors declared an annual cash dividend of $0.50 per share. The dividend will be payable on August 29th, 2025, to shareholders of record at the close of business on July 18th, 2025.

    “We sincerely thank every shareholder for your trust and investment in our community bank. I’m proud that our 2024 performance enables us to reward our shareholders through both earnings growth and our annual cash dividend,” said Gary Head, Chief Executive Officer.

    About White River Bancshares Company

    White River Bancshares Company is the single bank holding company for Signature Bank of Arkansas, headquartered in Fayetteville, Arkansas. The Bank has locations in Fayetteville, Springdale, Bentonville, Rogers, Brinkley, Harrison and Jonesboro, Arkansas. Founded in 2005, Signature Bank of Arkansas provides a full line of financial services to small businesses, families and farms. White River Bancshares Company (OTCQX: WRIV), trades on the OTCQX® Best Market.  

    Forward Looking Statements

    This press release contains statements about future events. These forward-looking statements, which are based on certain assumptions of management of the Company and the Bank and describe our future plans, strategies and expectations, can generally be identified by use of forward-looking terminology such as “may,” “will,” “believe,” “plan,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or the negative of those terms. Our ability to predict results of future events and the actual effect of future plans or strategies are inherently uncertain and actual results may differ materially from those predicted in such forward-looking statements. Factors that could have a material adverse effect on our operations and future prospects or that could affect the outcome of such forward-looking statements include, but are not limited to, changes in interest rates; the economic health of the local real estate market; general economic conditions; credit deterioration in our loan portfolio that would cause us to increase our allowance for loan losses; legislative or regulatory changes; technological developments; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality or composition of our loan and securities portfolios; demand for loan products in our market areas; deposit flows and costs of capital; competition; retention and recruitment of qualified personnel; demand for financial services in our market areas; and changes in accounting principles, policies, and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

    Contact: Scott Sandlin, Chief Strategy Officer
      479-684-3754

    The MIL Network –

  • MIL-OSI Russia: The Central Banks of Georgia and the Republic of Korea have launched a joint project to develop non-cash payments

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Tbilisi, July 16 (Xinhua) — The central banks of Georgia and the Republic of Korea (ROK) have officially launched a joint project to develop non-cash payments aimed at modernizing the payment infrastructure and expanding financial inclusion in Georgia, the National Bank of Georgia reported on Tuesday.

    A delegation from the Central Bank of Kazakhstan and the Korea Institute of Financial Telecommunications and Clearing /KFTC/ recently visited Georgia on a working visit. During the visit, a cooperation agreement was signed, which provides for the launch of the above-mentioned project.

    The parties expressed confidence that cooperation will make a significant contribution to the development of a modern and inclusive payment system, as well as strengthen economic ties between the two countries. –0–

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

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: The Central Banks of Georgia and the Republic of Korea have launched a joint project to develop non-cash payments

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Tbilisi, July 16 (Xinhua) — The central banks of Georgia and the Republic of Korea (ROK) have officially launched a joint project to develop non-cash payments aimed at modernizing the payment infrastructure and expanding financial inclusion in Georgia, the National Bank of Georgia reported on Tuesday.

    A delegation from the Central Bank of Kazakhstan and the Korea Institute of Financial Telecommunications and Clearing /KFTC/ recently visited Georgia on a working visit. During the visit, a cooperation agreement was signed, which provides for the launch of the above-mentioned project.

    The parties expressed confidence that cooperation will make a significant contribution to the development of a modern and inclusive payment system, as well as strengthen economic ties between the two countries. –0–

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

    .

    MIL OSI Russia News –

  • MIL-OSI Africa: Sierra Leone’s President Julius Maada Bio Hosts Economic Community of West African States (ECOWAS) Bank Delegation, Commits to Strengthen Regional Investment Collaboration

    Source: APO


    .

    The President of the ECOWAS Bank for Investment and Development (EBID), Dr George Agyekum Donkor, has paid a courtesy visit on His Excellency, President Dr Julius Maada Bio at his state house office, where he noted that “Your Excellency, all macroeconomic indicators have been doing well. A sign that your government is doing well. Congratulations.”

    The ECOWAS Bank for Investment and Development is the leading regional investment and development bank, owned by the fifteen-member states of the Economic Community of West African States (ECOWAS).

    Introducing the delegation to the President, the Chief Minister, Dr David Moinina Sengeh, revealed that the team is in the country based on an initial engagement the bank president had with President Bio, where an open invitation was extended for his visit to Sierra Leone.

    In his address, the Bank President congratulated President Bio on his recent appointment as chairperson of the ECOWAS Authority. “Your Excellency, I want to thank you for the warm hospitality my team and I received in Sierra Leone. I also want to formally congratulate you on your position in the high office at ECOWAS.” He said.

    “Your appointment is an endorsement of your leadership to deliver and the quality you have to lead the region at a time like this, when it is volatile. But we are sure that you are going to deliver,” he assured. He confirmed the Bank’s commitment and full support towards ensuring that President Bio succeeds during his tenure at ECOWAS.

    Dr Donkor revealed that since they arrived in the country, they have met with key ministers of government and have already started conversations on key areas, including roads, tourism, infrastructure, and education, among others, noting that during their stay in the country, they will also be engaging key sector ministers for tangible investment areas.

    The bank president pleaded with President Bio in his capacity as Chairman of the Authority of ECOWAS Heads of State and Governance to assist the bank in ensuring it maintains its status as a non-political entity in the sub-region. This, according to the Bank, will help it develop and expand its reach, hence position itself to undertake more development projects in the sub-region.

    While welcoming the Bank President and team to Freetown, President Julius Maada Bio thanked the Bank President for fulfilling his promise made during their engagement on the margins the ECOWAS Summit, where he personally requested the visit in order for the bank to deepen its ties with Sierra Leone.

    The President expressed hope that during their visit, the bank will be able to engage several sectors, so it will identify outstanding issues that are within its scope. The President expressed his concern about regional economic integration for Sierra Leone and other countries in a wide range of areas because, according to him, “West Africa has great potential, which we want to not only develop but also tap into for our future.”

    The President reaffirmed Sierra Leone’s commitment to deepening its relationship with the bank, revealing that the University of Kono is one of the top priorities on his agenda, and needs to be addressed as quickly as possible. In terms of roads, President Bio said his government doesn’t want to lead on mere physical infrastructure but rather, “We want to look at both physical and digital infrastructure, as well as that of our ecotourism,” he disclosed.

    Distributed by APO Group on behalf of State House Sierra Leone.

    MIL OSI Africa –

  • MIL-OSI USA: Reed & Whitehouse Press Trump Admin. on Reversal of Medical Debt Rule

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed

    WASHINGTON, DC – Nearly 15 million Americans were poised to see their credit scores rise by an average of 20 points under a Biden Administration rule that would have removed medical bills from consumer credit reports.  But the Trump Administration reversed course and joined credit reporting agencies in opposing the rule.  On Friday, a Trump-appointed judge in Texas overturned the Consumer Financial Protection Bureau’s (CFPB) efforts to leave medical debt off consumer credit reports.

    Now, U.S. Senators Jack Reed (D-RI) and Sheldon Whitehouse (D-RI) are teaming up with U.S. Senators Reverend Raphael Warnock (D-GA) and Elizabeth Warren (D-MA) and 26 other senators in pressing the Trump Administration for answers regarding the CFPB’s decision to vacate the medical debt rule finalized in January 2025.  

    100 million people in America — including 41 percent of adults – are burdened by over $220 billion in medical debt, according to KFF Health News.

    The American Medical Association contends that medical debt isn’t an accurate barometer of people’s ability to repay other loans, because most bills are a one-time or short-term expense from a hospital stay or accident. 

    Warnock, Warren, Reed, Whitehouse and their colleagues are demanding the CFPB share any data the agency relied on in deciding to petition a court to vacate the rule and any communications it had with entities during the process that would profit from its decision.

    “On April 30, 2025, the Consumer Financial Protection Bureau (CFPB) asked a court to vacate the agency’s recently released rule to remove medical debt from consumer credit reports. We write to request the information you relied on in making that determination, including any communications with collection agencies that stand to profit from it,” the 30 U.S. Senators wrote.

    “Medical debt collections information is often inaccurate, and studies show that it is not useful in determining a consumer’s ability to repay other debts…Almost half of all medical bills contain at least one error, and almost half of nonprofit hospitals have routinely and mistakenly billed patients who were eligible for free or discounted care,” they continued.

    At the conclusion of the letter, the senators emphasize the need for transparency into the agency’s decision-making process.

    “On April 30, the CFPB filed a joint motion with the industry groups that oppose the rule, petitioning the court to vacate it – lining the pockets of corporations off the backs of American consumers. Given the substantial evidence that the CFPB’s rule was well-considered and would help consumers without reducing the accuracy of their credit scores, we write to request that the CFPB make public all information relied on by the agency in its decision to drop the rule, including any communications with the debt collection industry,” the senators closed.

    Senator Reed is a member of the Senate Banking Committee and has strongly criticized the Trump Administration’s efforts to diminish and downsize the CFPB. In May, President Trump withdrew his nominee for the CFPB.  Currently, OMB Director Russell Vought serves as acting director of the agency and has failed to take action to ensure the CFPB protects Americans from predatory medical debt collection practices.

    In addition to Senators Warnock, Warren, Reed, and Whitehouse, the letter was signed by U.S. Senators Chuck Schumer (D-NY), Jeff Merkley (D-OR), Amy Klobuchar (D-MN), Ben Ray Lujan (D-NM), Martin Heinrich (D-NM), Adam Schiff (D-CA), John Hickenlooper (D-CO), Angela Alsobrooks (D-MD), Tammy Duckworth (D-IL), Ed Markey (D-MA), Jeanne Shaheen (D-NH), Ron Wyden (D-OR), Cory Booker (D-NJ), Bernie Sanders (I-VT), Lisa Blunt Rochester (D-DE), John Fetterman (D-PA), Kirsten Gillibrand (D-NY), Tina Smith (D-MN), Richard Blumenthal (D-CT), Angus King (I-ME), Chris Van Hollen (D-MD), Peter Welch (D-VT), Ruben Gallego (D-AZ), Andy Kim (D-NJ), Mazie Hirono (D-HI), and Jacky Rosen (D-NV).

    Full text of the letter follows:

    Dear Acting Director Vought,

    On April 30, 2025, the Consumer Financial Protection Bureau (CFPB) asked a court to vacate the agency’s recently released rule to remove medical debt from consumer credit reports. We write to request the information you relied on in making that determination, including any communications with debt collection agencies that stand to profit from it.

    Medical debt collections information is often inaccurate, and studies show that it is not useful in determining a consumer’s ability to repay other debts. One major credit scoring company, VantageScore, has stopped using medical debt in its newer models entirely. Almost half of all medical bills contain at least one error, and almost half of nonprofit hospitals have routinely and mistakenly billed patients who were eligible for free or discounted care. People often receive collection notices for debts they did not owe, in the wrong amount, or that should have been covered by insurance—but still end up experiencing long-lasting damage to their credit scores.

    Listing medical debt on a person’s credit report drives down their credit score, which hurts their ability to purchase a car, buy a home or rent an apartment, get utility service, start a business, or access other banking services. This has profound effects on families that can last generations. To make matters worse, medical debt is the most common reason debt collectors contact consumers; the debt collection industry makes one-fourth of its annual revenue from health care debt. Including medical debt on credit reports makes consumers more vulnerable to predatory debt collection practices.

    Medical debt on credit reports also blocks working families from access to credit that they would be able to repay.The CFPB found that people who had all their medical debts completely removed from their credit reports experienced an average credit score increase of 20 points, in some cases elevating families into a higher credit score tier.

    In response to growing data that medical debt is not a good indicator of creditworthiness, states across the country have acted to ban the inclusion of medical debt on credit reports. And on January 7, the Consumer Financial Protection Bureau (CFPB) issued a final rule to remove medical debt from consumer credit reports. The rule would remove an estimated $49 billion in medical bills from the credit reports of 15 million Americans, prohibit credit reporting companies from sharing medical debt information with lenders, and bar lenders from considering medical debt in underwriting decisions. It was designed to help the millions of Americans who are struggling to make ends meet, by lowering costs and increasing access to affordable credit for working families without affecting the predictive value of their credit reports. The rule would also help reduce the effects of structural racism and other prejudices. People of color are disproportionately harmed by the inclusion of medical debt on credit reports. Meanwhile, adults with a disability and new moms are more than twice as likely to carry medical debt.

    Despite the critical importance of the medical debt rule, on April 30, the CFPB filed a joint motion with the industry groups that oppose the rule, petitioning the court to vacate it—lining the pockets of corporations off the backs of American consumers. Given the substantial evidence that the CFPB’s rule was well-considered and would help consumers without reducing the accuracy of their credit scores, we write to request that the CFPB make public all information relied on by the agency in its decision to drop the rule, including any communications with the debt collection industry, by July 28, 2025. We specifically request that CFPB publicly publish all data about how medical debt relates to key economic indicators, including:

    • Barriers to home and car ownership, including challenges getting loans or not being approved to rent or lease,
    • Paying higher premiums for auto, homeowner’s and other types of insurance,
    • Losing job opportunities as a result of credit reporting on background checks,
    • Obstacles to starting small businesses because of challenges with securing loans,
    • Paying more for everyday services such as household utilities or cell phone contracts

    We are particularly concerned about the outsize impact that medical debt has on the credit scores of seniors, veterans, new parents, people with disabilities, cancer patients and survivors, and small business owners.

    Thank you for your attention to this matter.

    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Reed & Whitehouse Press Trump Admin. on Reversal of Medical Debt Rule

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed
    WASHINGTON, DC – Nearly 15 million Americans were poised to see their credit scores rise by an average of 20 points under a Biden Administration rule that would have removed medical bills from consumer credit reports.  But the Trump Administration reversed course and joined credit reporting agencies in opposing the rule.  On Friday, a Trump-appointed judge in Texas overturned the Consumer Financial Protection Bureau’s (CFPB) efforts to leave medical debt off consumer credit reports.
    Now, U.S. Senators Jack Reed (D-RI) and Sheldon Whitehouse (D-RI) are teaming up with U.S. Senators Reverend Raphael Warnock (D-GA) and Elizabeth Warren (D-MA) and 26 other senators in pressing the Trump Administration for answers regarding the CFPB’s decision to vacate the medical debt rule finalized in January 2025.  
    100 million people in America — including 41 percent of adults – are burdened by over $220 billion in medical debt, according to KFF Health News.
    The American Medical Association contends that medical debt isn’t an accurate barometer of people’s ability to repay other loans, because most bills are a one-time or short-term expense from a hospital stay or accident. 
    Warnock, Warren, Reed, Whitehouse and their colleagues are demanding the CFPB share any data the agency relied on in deciding to petition a court to vacate the rule and any communications it had with entities during the process that would profit from its decision.
    “On April 30, 2025, the Consumer Financial Protection Bureau (CFPB) asked a court to vacate the agency’s recently released rule to remove medical debt from consumer credit reports. We write to request the information you relied on in making that determination, including any communications with collection agencies that stand to profit from it,” the 30 U.S. Senators wrote.
    “Medical debt collections information is often inaccurate, and studies show that it is not useful in determining a consumer’s ability to repay other debts…Almost half of all medical bills contain at least one error, and almost half of nonprofit hospitals have routinely and mistakenly billed patients who were eligible for free or discounted care,” they continued.
    At the conclusion of the letter, the senators emphasize the need for transparency into the agency’s decision-making process.
    “On April 30, the CFPB filed a joint motion with the industry groups that oppose the rule, petitioning the court to vacate it – lining the pockets of corporations off the backs of American consumers. Given the substantial evidence that the CFPB’s rule was well-considered and would help consumers without reducing the accuracy of their credit scores, we write to request that the CFPB make public all information relied on by the agency in its decision to drop the rule, including any communications with the debt collection industry,” the senators closed.
    Senator Reed is a member of the Senate Banking Committee and has strongly criticized the Trump Administration’s efforts to diminish and downsize the CFPB. In May, President Trump withdrew his nominee for the CFPB.  Currently, OMB Director Russell Vought serves as acting director of the agency and has failed to take action to ensure the CFPB protects Americans from predatory medical debt collection practices.
    In addition to Senators Warnock, Warren, Reed, and Whitehouse, the letter was signed by U.S. Senators Chuck Schumer (D-NY), Jeff Merkley (D-OR), Amy Klobuchar (D-MN), Ben Ray Lujan (D-NM), Martin Heinrich (D-NM), Adam Schiff (D-CA), John Hickenlooper (D-CO), Angela Alsobrooks (D-MD), Tammy Duckworth (D-IL), Ed Markey (D-MA), Jeanne Shaheen (D-NH), Ron Wyden (D-OR), Cory Booker (D-NJ), Bernie Sanders (I-VT), Lisa Blunt Rochester (D-DE), John Fetterman (D-PA), Kirsten Gillibrand (D-NY), Tina Smith (D-MN), Richard Blumenthal (D-CT), Angus King (I-ME), Chris Van Hollen (D-MD), Peter Welch (D-VT), Ruben Gallego (D-AZ), Andy Kim (D-NJ), Mazie Hirono (D-HI), and Jacky Rosen (D-NV).
    Full text of the letter follows:
    Dear Acting Director Vought,
    On April 30, 2025, the Consumer Financial Protection Bureau (CFPB) asked a court to vacate the agency’s recently released rule to remove medical debt from consumer credit reports. We write to request the information you relied on in making that determination, including any communications with debt collection agencies that stand to profit from it.
    Medical debt collections information is often inaccurate, and studies show that it is not useful in determining a consumer’s ability to repay other debts. One major credit scoring company, VantageScore, has stopped using medical debt in its newer models entirely. Almost half of all medical bills contain at least one error, and almost half of nonprofit hospitals have routinely and mistakenly billed patients who were eligible for free or discounted care. People often receive collection notices for debts they did not owe, in the wrong amount, or that should have been covered by insurance—but still end up experiencing long-lasting damage to their credit scores.
    Listing medical debt on a person’s credit report drives down their credit score, which hurts their ability to purchase a car, buy a home or rent an apartment, get utility service, start a business, or access other banking services. This has profound effects on families that can last generations. To make matters worse, medical debt is the most common reason debt collectors contact consumers; the debt collection industry makes one-fourth of its annual revenue from health care debt. Including medical debt on credit reports makes consumers more vulnerable to predatory debt collection practices.
    Medical debt on credit reports also blocks working families from access to credit that they would be able to repay.The CFPB found that people who had all their medical debts completely removed from their credit reports experienced an average credit score increase of 20 points, in some cases elevating families into a higher credit score tier.
    In response to growing data that medical debt is not a good indicator of creditworthiness, states across the country have acted to ban the inclusion of medical debt on credit reports. And on January 7, the Consumer Financial Protection Bureau (CFPB) issued a final rule to remove medical debt from consumer credit reports. The rule would remove an estimated $49 billion in medical bills from the credit reports of 15 million Americans, prohibit credit reporting companies from sharing medical debt information with lenders, and bar lenders from considering medical debt in underwriting decisions. It was designed to help the millions of Americans who are struggling to make ends meet, by lowering costs and increasing access to affordable credit for working families without affecting the predictive value of their credit reports. The rule would also help reduce the effects of structural racism and other prejudices. People of color are disproportionately harmed by the inclusion of medical debt on credit reports. Meanwhile, adults with a disability and new moms are more than twice as likely to carry medical debt.
    Despite the critical importance of the medical debt rule, on April 30, the CFPB filed a joint motion with the industry groups that oppose the rule, petitioning the court to vacate it—lining the pockets of corporations off the backs of American consumers. Given the substantial evidence that the CFPB’s rule was well-considered and would help consumers without reducing the accuracy of their credit scores, we write to request that the CFPB make public all information relied on by the agency in its decision to drop the rule, including any communications with the debt collection industry, by July 28, 2025. We specifically request that CFPB publicly publish all data about how medical debt relates to key economic indicators, including:
    Barriers to home and car ownership, including challenges getting loans or not being approved to rent or lease,
    Paying higher premiums for auto, homeowner’s and other types of insurance,
    Losing job opportunities as a result of credit reporting on background checks,
    Obstacles to starting small businesses because of challenges with securing loans,
    Paying more for everyday services such as household utilities or cell phone contracts
    We are particularly concerned about the outsize impact that medical debt has on the credit scores of seniors, veterans, new parents, people with disabilities, cancer patients and survivors, and small business owners.
    Thank you for your attention to this matter.
    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Reed & Whitehouse Press Trump Admin. on Reversal of Medical Debt Rule

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed
    WASHINGTON, DC – Nearly 15 million Americans were poised to see their credit scores rise by an average of 20 points under a Biden Administration rule that would have removed medical bills from consumer credit reports.  But the Trump Administration reversed course and joined credit reporting agencies in opposing the rule.  On Friday, a Trump-appointed judge in Texas overturned the Consumer Financial Protection Bureau’s (CFPB) efforts to leave medical debt off consumer credit reports.
    Now, U.S. Senators Jack Reed (D-RI) and Sheldon Whitehouse (D-RI) are teaming up with U.S. Senators Reverend Raphael Warnock (D-GA) and Elizabeth Warren (D-MA) and 26 other senators in pressing the Trump Administration for answers regarding the CFPB’s decision to vacate the medical debt rule finalized in January 2025.  
    100 million people in America — including 41 percent of adults – are burdened by over $220 billion in medical debt, according to KFF Health News.
    The American Medical Association contends that medical debt isn’t an accurate barometer of people’s ability to repay other loans, because most bills are a one-time or short-term expense from a hospital stay or accident. 
    Warnock, Warren, Reed, Whitehouse and their colleagues are demanding the CFPB share any data the agency relied on in deciding to petition a court to vacate the rule and any communications it had with entities during the process that would profit from its decision.
    “On April 30, 2025, the Consumer Financial Protection Bureau (CFPB) asked a court to vacate the agency’s recently released rule to remove medical debt from consumer credit reports. We write to request the information you relied on in making that determination, including any communications with collection agencies that stand to profit from it,” the 30 U.S. Senators wrote.
    “Medical debt collections information is often inaccurate, and studies show that it is not useful in determining a consumer’s ability to repay other debts…Almost half of all medical bills contain at least one error, and almost half of nonprofit hospitals have routinely and mistakenly billed patients who were eligible for free or discounted care,” they continued.
    At the conclusion of the letter, the senators emphasize the need for transparency into the agency’s decision-making process.
    “On April 30, the CFPB filed a joint motion with the industry groups that oppose the rule, petitioning the court to vacate it – lining the pockets of corporations off the backs of American consumers. Given the substantial evidence that the CFPB’s rule was well-considered and would help consumers without reducing the accuracy of their credit scores, we write to request that the CFPB make public all information relied on by the agency in its decision to drop the rule, including any communications with the debt collection industry,” the senators closed.
    Senator Reed is a member of the Senate Banking Committee and has strongly criticized the Trump Administration’s efforts to diminish and downsize the CFPB. In May, President Trump withdrew his nominee for the CFPB.  Currently, OMB Director Russell Vought serves as acting director of the agency and has failed to take action to ensure the CFPB protects Americans from predatory medical debt collection practices.
    In addition to Senators Warnock, Warren, Reed, and Whitehouse, the letter was signed by U.S. Senators Chuck Schumer (D-NY), Jeff Merkley (D-OR), Amy Klobuchar (D-MN), Ben Ray Lujan (D-NM), Martin Heinrich (D-NM), Adam Schiff (D-CA), John Hickenlooper (D-CO), Angela Alsobrooks (D-MD), Tammy Duckworth (D-IL), Ed Markey (D-MA), Jeanne Shaheen (D-NH), Ron Wyden (D-OR), Cory Booker (D-NJ), Bernie Sanders (I-VT), Lisa Blunt Rochester (D-DE), John Fetterman (D-PA), Kirsten Gillibrand (D-NY), Tina Smith (D-MN), Richard Blumenthal (D-CT), Angus King (I-ME), Chris Van Hollen (D-MD), Peter Welch (D-VT), Ruben Gallego (D-AZ), Andy Kim (D-NJ), Mazie Hirono (D-HI), and Jacky Rosen (D-NV).
    Full text of the letter follows:
    Dear Acting Director Vought,
    On April 30, 2025, the Consumer Financial Protection Bureau (CFPB) asked a court to vacate the agency’s recently released rule to remove medical debt from consumer credit reports. We write to request the information you relied on in making that determination, including any communications with debt collection agencies that stand to profit from it.
    Medical debt collections information is often inaccurate, and studies show that it is not useful in determining a consumer’s ability to repay other debts. One major credit scoring company, VantageScore, has stopped using medical debt in its newer models entirely. Almost half of all medical bills contain at least one error, and almost half of nonprofit hospitals have routinely and mistakenly billed patients who were eligible for free or discounted care. People often receive collection notices for debts they did not owe, in the wrong amount, or that should have been covered by insurance—but still end up experiencing long-lasting damage to their credit scores.
    Listing medical debt on a person’s credit report drives down their credit score, which hurts their ability to purchase a car, buy a home or rent an apartment, get utility service, start a business, or access other banking services. This has profound effects on families that can last generations. To make matters worse, medical debt is the most common reason debt collectors contact consumers; the debt collection industry makes one-fourth of its annual revenue from health care debt. Including medical debt on credit reports makes consumers more vulnerable to predatory debt collection practices.
    Medical debt on credit reports also blocks working families from access to credit that they would be able to repay.The CFPB found that people who had all their medical debts completely removed from their credit reports experienced an average credit score increase of 20 points, in some cases elevating families into a higher credit score tier.
    In response to growing data that medical debt is not a good indicator of creditworthiness, states across the country have acted to ban the inclusion of medical debt on credit reports. And on January 7, the Consumer Financial Protection Bureau (CFPB) issued a final rule to remove medical debt from consumer credit reports. The rule would remove an estimated $49 billion in medical bills from the credit reports of 15 million Americans, prohibit credit reporting companies from sharing medical debt information with lenders, and bar lenders from considering medical debt in underwriting decisions. It was designed to help the millions of Americans who are struggling to make ends meet, by lowering costs and increasing access to affordable credit for working families without affecting the predictive value of their credit reports. The rule would also help reduce the effects of structural racism and other prejudices. People of color are disproportionately harmed by the inclusion of medical debt on credit reports. Meanwhile, adults with a disability and new moms are more than twice as likely to carry medical debt.
    Despite the critical importance of the medical debt rule, on April 30, the CFPB filed a joint motion with the industry groups that oppose the rule, petitioning the court to vacate it—lining the pockets of corporations off the backs of American consumers. Given the substantial evidence that the CFPB’s rule was well-considered and would help consumers without reducing the accuracy of their credit scores, we write to request that the CFPB make public all information relied on by the agency in its decision to drop the rule, including any communications with the debt collection industry, by July 28, 2025. We specifically request that CFPB publicly publish all data about how medical debt relates to key economic indicators, including:
    Barriers to home and car ownership, including challenges getting loans or not being approved to rent or lease,
    Paying higher premiums for auto, homeowner’s and other types of insurance,
    Losing job opportunities as a result of credit reporting on background checks,
    Obstacles to starting small businesses because of challenges with securing loans,
    Paying more for everyday services such as household utilities or cell phone contracts
    We are particularly concerned about the outsize impact that medical debt has on the credit scores of seniors, veterans, new parents, people with disabilities, cancer patients and survivors, and small business owners.
    Thank you for your attention to this matter.
    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Reed & Whitehouse Press Trump Admin. on Reversal of Medical Debt Rule

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed
    WASHINGTON, DC – Nearly 15 million Americans were poised to see their credit scores rise by an average of 20 points under a Biden Administration rule that would have removed medical bills from consumer credit reports.  But the Trump Administration reversed course and joined credit reporting agencies in opposing the rule.  On Friday, a Trump-appointed judge in Texas overturned the Consumer Financial Protection Bureau’s (CFPB) efforts to leave medical debt off consumer credit reports.
    Now, U.S. Senators Jack Reed (D-RI) and Sheldon Whitehouse (D-RI) are teaming up with U.S. Senators Reverend Raphael Warnock (D-GA) and Elizabeth Warren (D-MA) and 26 other senators in pressing the Trump Administration for answers regarding the CFPB’s decision to vacate the medical debt rule finalized in January 2025.  
    100 million people in America — including 41 percent of adults – are burdened by over $220 billion in medical debt, according to KFF Health News.
    The American Medical Association contends that medical debt isn’t an accurate barometer of people’s ability to repay other loans, because most bills are a one-time or short-term expense from a hospital stay or accident. 
    Warnock, Warren, Reed, Whitehouse and their colleagues are demanding the CFPB share any data the agency relied on in deciding to petition a court to vacate the rule and any communications it had with entities during the process that would profit from its decision.
    “On April 30, 2025, the Consumer Financial Protection Bureau (CFPB) asked a court to vacate the agency’s recently released rule to remove medical debt from consumer credit reports. We write to request the information you relied on in making that determination, including any communications with collection agencies that stand to profit from it,” the 30 U.S. Senators wrote.
    “Medical debt collections information is often inaccurate, and studies show that it is not useful in determining a consumer’s ability to repay other debts…Almost half of all medical bills contain at least one error, and almost half of nonprofit hospitals have routinely and mistakenly billed patients who were eligible for free or discounted care,” they continued.
    At the conclusion of the letter, the senators emphasize the need for transparency into the agency’s decision-making process.
    “On April 30, the CFPB filed a joint motion with the industry groups that oppose the rule, petitioning the court to vacate it – lining the pockets of corporations off the backs of American consumers. Given the substantial evidence that the CFPB’s rule was well-considered and would help consumers without reducing the accuracy of their credit scores, we write to request that the CFPB make public all information relied on by the agency in its decision to drop the rule, including any communications with the debt collection industry,” the senators closed.
    Senator Reed is a member of the Senate Banking Committee and has strongly criticized the Trump Administration’s efforts to diminish and downsize the CFPB. In May, President Trump withdrew his nominee for the CFPB.  Currently, OMB Director Russell Vought serves as acting director of the agency and has failed to take action to ensure the CFPB protects Americans from predatory medical debt collection practices.
    In addition to Senators Warnock, Warren, Reed, and Whitehouse, the letter was signed by U.S. Senators Chuck Schumer (D-NY), Jeff Merkley (D-OR), Amy Klobuchar (D-MN), Ben Ray Lujan (D-NM), Martin Heinrich (D-NM), Adam Schiff (D-CA), John Hickenlooper (D-CO), Angela Alsobrooks (D-MD), Tammy Duckworth (D-IL), Ed Markey (D-MA), Jeanne Shaheen (D-NH), Ron Wyden (D-OR), Cory Booker (D-NJ), Bernie Sanders (I-VT), Lisa Blunt Rochester (D-DE), John Fetterman (D-PA), Kirsten Gillibrand (D-NY), Tina Smith (D-MN), Richard Blumenthal (D-CT), Angus King (I-ME), Chris Van Hollen (D-MD), Peter Welch (D-VT), Ruben Gallego (D-AZ), Andy Kim (D-NJ), Mazie Hirono (D-HI), and Jacky Rosen (D-NV).
    Full text of the letter follows:
    Dear Acting Director Vought,
    On April 30, 2025, the Consumer Financial Protection Bureau (CFPB) asked a court to vacate the agency’s recently released rule to remove medical debt from consumer credit reports. We write to request the information you relied on in making that determination, including any communications with debt collection agencies that stand to profit from it.
    Medical debt collections information is often inaccurate, and studies show that it is not useful in determining a consumer’s ability to repay other debts. One major credit scoring company, VantageScore, has stopped using medical debt in its newer models entirely. Almost half of all medical bills contain at least one error, and almost half of nonprofit hospitals have routinely and mistakenly billed patients who were eligible for free or discounted care. People often receive collection notices for debts they did not owe, in the wrong amount, or that should have been covered by insurance—but still end up experiencing long-lasting damage to their credit scores.
    Listing medical debt on a person’s credit report drives down their credit score, which hurts their ability to purchase a car, buy a home or rent an apartment, get utility service, start a business, or access other banking services. This has profound effects on families that can last generations. To make matters worse, medical debt is the most common reason debt collectors contact consumers; the debt collection industry makes one-fourth of its annual revenue from health care debt. Including medical debt on credit reports makes consumers more vulnerable to predatory debt collection practices.
    Medical debt on credit reports also blocks working families from access to credit that they would be able to repay.The CFPB found that people who had all their medical debts completely removed from their credit reports experienced an average credit score increase of 20 points, in some cases elevating families into a higher credit score tier.
    In response to growing data that medical debt is not a good indicator of creditworthiness, states across the country have acted to ban the inclusion of medical debt on credit reports. And on January 7, the Consumer Financial Protection Bureau (CFPB) issued a final rule to remove medical debt from consumer credit reports. The rule would remove an estimated $49 billion in medical bills from the credit reports of 15 million Americans, prohibit credit reporting companies from sharing medical debt information with lenders, and bar lenders from considering medical debt in underwriting decisions. It was designed to help the millions of Americans who are struggling to make ends meet, by lowering costs and increasing access to affordable credit for working families without affecting the predictive value of their credit reports. The rule would also help reduce the effects of structural racism and other prejudices. People of color are disproportionately harmed by the inclusion of medical debt on credit reports. Meanwhile, adults with a disability and new moms are more than twice as likely to carry medical debt.
    Despite the critical importance of the medical debt rule, on April 30, the CFPB filed a joint motion with the industry groups that oppose the rule, petitioning the court to vacate it—lining the pockets of corporations off the backs of American consumers. Given the substantial evidence that the CFPB’s rule was well-considered and would help consumers without reducing the accuracy of their credit scores, we write to request that the CFPB make public all information relied on by the agency in its decision to drop the rule, including any communications with the debt collection industry, by July 28, 2025. We specifically request that CFPB publicly publish all data about how medical debt relates to key economic indicators, including:
    Barriers to home and car ownership, including challenges getting loans or not being approved to rent or lease,
    Paying higher premiums for auto, homeowner’s and other types of insurance,
    Losing job opportunities as a result of credit reporting on background checks,
    Obstacles to starting small businesses because of challenges with securing loans,
    Paying more for everyday services such as household utilities or cell phone contracts
    We are particularly concerned about the outsize impact that medical debt has on the credit scores of seniors, veterans, new parents, people with disabilities, cancer patients and survivors, and small business owners.
    Thank you for your attention to this matter.
    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Reed & Whitehouse Press Trump Admin. on Reversal of Medical Debt Rule

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed
    WASHINGTON, DC – Nearly 15 million Americans were poised to see their credit scores rise by an average of 20 points under a Biden Administration rule that would have removed medical bills from consumer credit reports.  But the Trump Administration reversed course and joined credit reporting agencies in opposing the rule.  On Friday, a Trump-appointed judge in Texas overturned the Consumer Financial Protection Bureau’s (CFPB) efforts to leave medical debt off consumer credit reports.
    Now, U.S. Senators Jack Reed (D-RI) and Sheldon Whitehouse (D-RI) are teaming up with U.S. Senators Reverend Raphael Warnock (D-GA) and Elizabeth Warren (D-MA) and 26 other senators in pressing the Trump Administration for answers regarding the CFPB’s decision to vacate the medical debt rule finalized in January 2025.  
    100 million people in America — including 41 percent of adults – are burdened by over $220 billion in medical debt, according to KFF Health News.
    The American Medical Association contends that medical debt isn’t an accurate barometer of people’s ability to repay other loans, because most bills are a one-time or short-term expense from a hospital stay or accident. 
    Warnock, Warren, Reed, Whitehouse and their colleagues are demanding the CFPB share any data the agency relied on in deciding to petition a court to vacate the rule and any communications it had with entities during the process that would profit from its decision.
    “On April 30, 2025, the Consumer Financial Protection Bureau (CFPB) asked a court to vacate the agency’s recently released rule to remove medical debt from consumer credit reports. We write to request the information you relied on in making that determination, including any communications with collection agencies that stand to profit from it,” the 30 U.S. Senators wrote.
    “Medical debt collections information is often inaccurate, and studies show that it is not useful in determining a consumer’s ability to repay other debts…Almost half of all medical bills contain at least one error, and almost half of nonprofit hospitals have routinely and mistakenly billed patients who were eligible for free or discounted care,” they continued.
    At the conclusion of the letter, the senators emphasize the need for transparency into the agency’s decision-making process.
    “On April 30, the CFPB filed a joint motion with the industry groups that oppose the rule, petitioning the court to vacate it – lining the pockets of corporations off the backs of American consumers. Given the substantial evidence that the CFPB’s rule was well-considered and would help consumers without reducing the accuracy of their credit scores, we write to request that the CFPB make public all information relied on by the agency in its decision to drop the rule, including any communications with the debt collection industry,” the senators closed.
    Senator Reed is a member of the Senate Banking Committee and has strongly criticized the Trump Administration’s efforts to diminish and downsize the CFPB. In May, President Trump withdrew his nominee for the CFPB.  Currently, OMB Director Russell Vought serves as acting director of the agency and has failed to take action to ensure the CFPB protects Americans from predatory medical debt collection practices.
    In addition to Senators Warnock, Warren, Reed, and Whitehouse, the letter was signed by U.S. Senators Chuck Schumer (D-NY), Jeff Merkley (D-OR), Amy Klobuchar (D-MN), Ben Ray Lujan (D-NM), Martin Heinrich (D-NM), Adam Schiff (D-CA), John Hickenlooper (D-CO), Angela Alsobrooks (D-MD), Tammy Duckworth (D-IL), Ed Markey (D-MA), Jeanne Shaheen (D-NH), Ron Wyden (D-OR), Cory Booker (D-NJ), Bernie Sanders (I-VT), Lisa Blunt Rochester (D-DE), John Fetterman (D-PA), Kirsten Gillibrand (D-NY), Tina Smith (D-MN), Richard Blumenthal (D-CT), Angus King (I-ME), Chris Van Hollen (D-MD), Peter Welch (D-VT), Ruben Gallego (D-AZ), Andy Kim (D-NJ), Mazie Hirono (D-HI), and Jacky Rosen (D-NV).
    Full text of the letter follows:
    Dear Acting Director Vought,
    On April 30, 2025, the Consumer Financial Protection Bureau (CFPB) asked a court to vacate the agency’s recently released rule to remove medical debt from consumer credit reports. We write to request the information you relied on in making that determination, including any communications with debt collection agencies that stand to profit from it.
    Medical debt collections information is often inaccurate, and studies show that it is not useful in determining a consumer’s ability to repay other debts. One major credit scoring company, VantageScore, has stopped using medical debt in its newer models entirely. Almost half of all medical bills contain at least one error, and almost half of nonprofit hospitals have routinely and mistakenly billed patients who were eligible for free or discounted care. People often receive collection notices for debts they did not owe, in the wrong amount, or that should have been covered by insurance—but still end up experiencing long-lasting damage to their credit scores.
    Listing medical debt on a person’s credit report drives down their credit score, which hurts their ability to purchase a car, buy a home or rent an apartment, get utility service, start a business, or access other banking services. This has profound effects on families that can last generations. To make matters worse, medical debt is the most common reason debt collectors contact consumers; the debt collection industry makes one-fourth of its annual revenue from health care debt. Including medical debt on credit reports makes consumers more vulnerable to predatory debt collection practices.
    Medical debt on credit reports also blocks working families from access to credit that they would be able to repay.The CFPB found that people who had all their medical debts completely removed from their credit reports experienced an average credit score increase of 20 points, in some cases elevating families into a higher credit score tier.
    In response to growing data that medical debt is not a good indicator of creditworthiness, states across the country have acted to ban the inclusion of medical debt on credit reports. And on January 7, the Consumer Financial Protection Bureau (CFPB) issued a final rule to remove medical debt from consumer credit reports. The rule would remove an estimated $49 billion in medical bills from the credit reports of 15 million Americans, prohibit credit reporting companies from sharing medical debt information with lenders, and bar lenders from considering medical debt in underwriting decisions. It was designed to help the millions of Americans who are struggling to make ends meet, by lowering costs and increasing access to affordable credit for working families without affecting the predictive value of their credit reports. The rule would also help reduce the effects of structural racism and other prejudices. People of color are disproportionately harmed by the inclusion of medical debt on credit reports. Meanwhile, adults with a disability and new moms are more than twice as likely to carry medical debt.
    Despite the critical importance of the medical debt rule, on April 30, the CFPB filed a joint motion with the industry groups that oppose the rule, petitioning the court to vacate it—lining the pockets of corporations off the backs of American consumers. Given the substantial evidence that the CFPB’s rule was well-considered and would help consumers without reducing the accuracy of their credit scores, we write to request that the CFPB make public all information relied on by the agency in its decision to drop the rule, including any communications with the debt collection industry, by July 28, 2025. We specifically request that CFPB publicly publish all data about how medical debt relates to key economic indicators, including:
    Barriers to home and car ownership, including challenges getting loans or not being approved to rent or lease,
    Paying higher premiums for auto, homeowner’s and other types of insurance,
    Losing job opportunities as a result of credit reporting on background checks,
    Obstacles to starting small businesses because of challenges with securing loans,
    Paying more for everyday services such as household utilities or cell phone contracts
    We are particularly concerned about the outsize impact that medical debt has on the credit scores of seniors, veterans, new parents, people with disabilities, cancer patients and survivors, and small business owners.
    Thank you for your attention to this matter.
    Sincerely,

    MIL OSI USA News –