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Category: Banking

  • MIL-OSI Russia: Eduard Tiktinsky became an Honorary Professor of SPbPU

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    On July 4, a solemn ceremony of awarding the diploma and mantle of the Honorary Professor of SPbPU to the founder, president and chairman of the board of directors of the RBI Group Eduard Tiktinsky took place at Peter the Great St. Petersburg Polytechnic University. The assignment of this title is the highest form of recognition of merits in educational and scientific activities. The event took place during the honoring of the best graduates of the Polytechnic.

    The honorary title was awarded to Eduard Tiktinsky, a graduate of the Economics Department of the Leningrad Polytechnic Institute, by the decision of the Academic Council of SPbPU on December 2, 2024.

    Eduard Saulevich founded the RBI Group at the age of 21. Having graduated from the Polytechnic, the higher courses in economics and privatization of the European Bank for Reconstruction and Development, and having gained experience in real estate, Eduard Tiktinsky created and headed a development company, which today is one of the largest holdings in St. Petersburg in the residential and commercial construction market. During this time, the company has implemented more than 80 projects, with a total area of more than two million square meters.

    Today, Eduard Tiktinsky is an Honorary Builder of Russia, holder of the Order of Merit in Construction, member of the Board of Trustees of the World Club of Petersburgers, initiator and ideological inspirer of the social project for talented youth “School of Leaders of the Future”. In addition, Eduard Saulevich is a multiple leader of professional and business ratings, recognized at various times by expert communities as “Person of the Year”, “Expert of the Year” in the field of business, innovation, education, as well as one of the most effective managers who made the greatest personal contribution to the development of the industry over the past decade.

    Eduard Saulevich is, first and foremost, a polytechnician, an engineer and economist, who has proven with his success story how business provides opportunities for self-realization, and personal motivation, efficiency and talent help to achieve goals. For several years now, the university has been hosting meetings with polytechnicians, where Eduard Saulevich shares his experience, helps students believe in themselves and encourages them to “know their craft”, because success is the result of work, accepted risks and conviction in the correctness of the chosen path, – noted the scientific secretary of the university Dmitry Karpov, reading out the presentation.

    So, Eduard Tiktinsky became a guest discussion club “You have the floor!”, answered questions from polytechnicians.

    In conclusion, Dmitry Anatolyevich cited Eduard Saulevich’s “rules of success”, voiced by him in one of his interviews.

    I want to thank you for the great honor of speaking at an important event – the awarding of golden graduates. Remembering my studies, I want to note that after creating my company, I did not come to the Polytechnic very often. But nevertheless, it gave me the opportunity to accept the challenge both in work and in studies, without any discounts and adjustments to pass all exams on time, clearly and with normal grades. The activity that I conduct, meeting with students and entrepreneurs, gives a lot not only to people, as I hope, but also to me, – said Eduard Tiktinsky in his response.

    Eduard Saulevich visited the SPbPU History Museum, where he learned interesting facts about the history of the university and saw key exhibits. The honorary professor climbed the spiral staircase to the Polytech Tower, where he was able to enjoy the view of the university and the city from a height of more than 40 meters.

    The tower is one of the symbols of the Polytechnic University, this year it turns 120 years old. It is interesting that it is now used as a youth cluster for startups and development. Of course, it is very symbolic when a historical building is given a new life. I believe this is a very important task for the city. It is good when such projects “throw” a kind of bridge between history and modernity. The Polytechnic University Tower, as I see it, fully embodies the functions and meanings that a cultural heritage site can carry, – noted Eduard Tiktinsky.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Europe: EBA Publishes Hotfix for Reporting Framework 4.1

    Source: European Banking Authority

    The European Banking Authority (EBA) today published a hotfix of its Reporting Framework 4.1 to address a series of technical issues identified in the initial release. This hotfix aims to ensure the consistency and accuracy of the reporting requirements by including some corrections.

    To support transparency and facilitate implementation by reporting institutions, the EBA has also made available a list of issues and inconsistencies found in the original version of Framework 4.1. This list provides a clear overview of the issues addressed and the corresponding fixes applied in the hotfix release, as well as other issues identified that will be addressed in v4.2 for which an interim solution is proposed. The updated technical package and issues list are available on the Reporting framework 4.1 | European Banking Authority webpage.

    In addition, on Reporting framework 4.2 | European Banking Authority which includes the updated referenced date for modules in release 4.2, the EBA announces the postponement of the obligation to use the xBRL-CSV reporting format. Originally scheduled to become mandatory from the reference date of December 2025, the new reference date for mandatory xBRL-CSV reporting will be March 2026. This delay is intended to give institutions additional time to adjust their systems and processes to the new format.

    MIL OSI Europe News –

  • MIL-OSI Europe: EBA Publishes Hotfix for Reporting Framework 4.1

    Source: European Banking Authority

    The European Banking Authority (EBA) today published a hotfix of its Reporting Framework 4.1 to address a series of technical issues identified in the initial release. This hotfix aims to ensure the consistency and accuracy of the reporting requirements by including some corrections.

    To support transparency and facilitate implementation by reporting institutions, the EBA has also made available a list of issues and inconsistencies found in the original version of Framework 4.1. This list provides a clear overview of the issues addressed and the corresponding fixes applied in the hotfix release, as well as other issues identified that will be addressed in v4.2 for which an interim solution is proposed. The updated technical package and issues list are available on the Reporting framework 4.1 | European Banking Authority webpage.

    In addition, on Reporting framework 4.2 | European Banking Authority which includes the updated referenced date for modules in release 4.2, the EBA announces the postponement of the obligation to use the xBRL-CSV reporting format. Originally scheduled to become mandatory from the reference date of December 2025, the new reference date for mandatory xBRL-CSV reporting will be March 2026. This delay is intended to give institutions additional time to adjust their systems and processes to the new format.

    MIL OSI Europe News –

  • MIL-OSI Africa: At Africa gender statistics forum, African leaders urge renewed commitment to quality gender data

    Source: APO

    Amid growing setbacks on gender equality and increasing financial constraints, African policymakers, gender experts, and development specialists are calling for renewed collaboration and sustained investment in national gender data systems across the continent.

    This is the message of the ongoing Seventh Africa Gender Statistics Forum taking place in Abidjan, Côte d’Ivoire.

    The Forum was co-organized by Côte d’Ivoire’s National Statistics Agency,  the African Union Commission, the African Development Bank Group, the Economic Commission for Africa, UN Women, and Open Data Watch, with funding support from the Korea-Africa Economic Cooperation Trust Fund.

    The Forum is exploring Africa’s gender data systems, ways to build statistical capacity, and policies to advance gender equality and women’s empowerment across the continent.

    Representatives from host country Côte d’Ivoire said the country has made notable progress in recent years in collecting, analyzing and using gender data to guide public policy.

    “These statistics are essential to understand the lived realities of girls and women and to design effective programs and policies that eliminate inequality,” Thiekoro Doumbia, Director General of Côte d’Ivoire’s National Statistics Agency, told attendees.

    Held under the theme “Sound Statistics for ALL Women and Girls: Rights, Equality and Empowerment,” the Forum has attracted more than 150 participants from 40 African countries, covering a diversity of sectors – including government representatives, statisticians, civil society, and development organizations.

    At the forum, participants have reflected on Africa’s journey in gender statistics since the 1995 Beijing Declaration and Platform for Action – a landmark international agreement aimed at advancing women’s rights and gender equality.

    “Statistics provide a solid foundation for good decision-making, and gender statistics are crucial for identifying vulnerabilities among women, girls, men, and boys and responding appropriately,” said William Muhwava, Chief for Demographic and Social Statistics Section of the UN Economic Commission for Africa.

    The high-level panels, technical and networking sessions have focused on priority issues ranging from gender-based violence statistics and inclusive data systems to social protection, migration, and sets of standards, principles, and rules that guide behavior and decision-making.

    During the forum, the African Development Bank and the Economic Commission for Africa’s Africa Gender Index 2023 Analytical Report, was showcased – a flagship publication that measures the state of gender equality across the continent.

    According to the Index, African women and girls continue to be left behind in economic, social and political spheres, despite progress in some sectors.

    “This Forum is a unique opportunity to turn numbers into narratives, analysis into action, and data into social justice for all African women and girls,” said Nathalie Gahunga, Manager of the Gender and Women Empowerment Division at the African Development Bank.

    “Data is the key to change. Yet, in 15 African countries, only 52 percent of gender-related indicators clearly differentiate between women and men. This gap undermines progress in maternal health, political participation, and violence prevention,“ she added.

    According to UN Women and the Partnership in Statistics for Development in the 21st Century PARIS21, African countries have achieved just over 50 percent of their potential gender data capacity. While some countries are performing above the global average, the continent lags behind.

    “An Africa that is people-driven needs sound data that accurately reflects the realities of women and girls,” said Aberash Tariku Abaye Africa, Coordination Statistics Expert at the African Union Institute for Statistics.

    “Including women in Africa’s development is therefore critical for sustainable economic growth and social development,” said Adjaratou Ndiaye, Country Representative, UN Women, Cote Ivoire.  “We can’t achieve that without strong gender data and this calls for countries and sectors to work closely together to identify and address gaps for stronger data systems across the region.”

    The Forum is expected to conclude with recommendations aimed at supporting institutions, processes, and resources to produce, disseminate, and utilize gender-related data. This will ensure coordination between gender data producers and users,  grounding policies across Africa in solid evidence and real-life data.

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    Media Contact:
    African Development Bank Group:
    Raissa Girondin,
    Communications Specialist,
    email: media@afdb.org

    Media files

    .

    MIL OSI Africa –

  • Indian stock market settles in green amid hopes for potential India-US trade deal

    Source: Government of India

    Source: Government of India (4)

    After a highly volatile session, the Indian stock market ended in the green on Friday, supported by value buying in IT and banking stocks as talks progressed on an interim India-US trade deal.

    Touching an intra-day low of 83,015, the Sensex bounced back to close at 83,432.89, up 193.42 points or 0.23 per cent from the previous session’s close of 83,239.47. Similarly, the Nifty ended 0.22 per cent or 55.70 points higher at 25,461.

    “The Indian market is experiencing a pause as investors adopt a wait-and-watch strategy ahead of the impending US tariff deadline amid mixed global cues,” said Vinod Nair, Head of Research, Geojit Financial Services.

    Both benchmark indices traded with high volatility as investors remained cautious ahead of the US tariff deadline and amid mixed global signals.

    Among Sensex constituents, Bajaj Finance, Infosys, Hindustan Unilever, HCL Technologies, UltraTech Cement, Bajaj Finserv and TCS closed in positive territory. Meanwhile, Sun Pharma, ITC, Tata Motors, Asian Paints, Mahindra & Mahindra and Maruti Suzuki settled in the red.

    In the Nifty index, 31 stocks advanced while 19 declined.

    Sector-wise, Nifty IT (up 0.80 per cent), Bank Nifty (up 0.42 per cent) and Nifty Financial Services (up 0.49 per cent) posted decent gains. Nifty Midcap 100 and Nifty Smallcap 100 closed flat.

    According to analysts, the markets remained volatile for yet another session but managed to end on a positive note.

    “The tone was negative in the first half; however, a decent recovery in heavyweight stocks pared all losses as the day progressed, helping the index close near the day’s high at 25,461,” said Ajit Mishra, SVP – Research, Religare Broking Ltd.

    Ongoing FII outflows reflect a risk-off sentiment, while DII inflows are providing partial support, market experts noted.

    Following the recent rally, key indices are hovering near peak valuation levels, limiting further upside, which remains highly dependent on Q1 earnings and progress on the trade deal.

    “In the mid- and small-cap space, the market has shifted to being more stock-specific following the recent recovery,” added Nair.

    –IANS

  • MIL-OSI Economics: Ghana and African Development Bank Sign Landmark Deal to Develop Volta Economic Corridor

    Source: African Development Bank Group
    The African Development Bank today signed a landmark Letter of Intent (LoI) with the Government of Ghana to support the development of the Volta Economic Corridor, a transformative initiative under the country’s flagship 24-Hour Economy and Accelerated Export Development Programme (24H+).

    MIL OSI Economics –

  • MIL-OSI Economics: At Africa gender statistics forum, African leaders urge renewed commitment to quality gender data

    Source: African Development Bank Group

    Amid growing setbacks on gender equality and increasing financial constraints, African policymakers, gender experts, and development specialists are calling for renewed collaboration and sustained investment in national gender data systems across the continent.

    This is the message of the ongoing Seventh Africa Gender Statistics Forum taking place in Abidjan, Côte d’Ivoire.

    The Forum was co-organized by Côte d’Ivoire’s National Statistics Agency,  the African Union Commission, the African Development Bank Group, the Economic Commission for Africa, UN Women, and Open Data Watch, with funding support from the Korea-Africa Economic Cooperation Trust Fund.

    The Forum is exploring Africa’s gender data systems, ways to build statistical capacity, and policies to advance gender equality and women’s empowerment across the continent.

    Representatives from host country Côte d’Ivoire said the country has made notable progress in recent years in collecting, analyzing and using gender data to guide public policy.

    “These statistics are essential to understand the lived realities of girls and women and to design effective programs and policies that eliminate inequality,” Thiekoro Doumbia, Director General of Côte d’Ivoire’s National Statistics Agency, told attendees.

    Held under the theme “Sound Statistics for ALL Women and Girls: Rights, Equality and Empowerment,” the Forum has attracted more than 150 participants from 40 African countries, covering a diversity of sectors – including government representatives, statisticians, civil society, and development organizations.

    At the forum, participants have reflected on Africa’s journey in gender statistics since the 1995 Beijing Declaration and Platform for Action – a landmark international agreement aimed at advancing women’s rights and gender equality.

    “Statistics provide a solid foundation for good decision-making, and gender statistics are crucial for identifying vulnerabilities among women, girls, men, and boys and responding appropriately,” said William Muhwava, Chief for Demographic and Social Statistics Section of the UN Economic Commission for Africa.

    The high-level panels, technical and networking sessions have focused on priority issues ranging from gender-based violence statistics and inclusive data systems to social protection, migration, and sets of standards, principles, and rules that guide behavior and decision-making.

    During the forum, the African Development Bank and the Economic Commission for Africa’s Africa Gender Index 2023 Analytical Report, was showcased – a flagship publication that measures the state of gender equality across the continent.

    According to the Index, African women and girls continue to be left behind in economic, social and political spheres, despite progress in some sectors.

    “This Forum is a unique opportunity to turn numbers into narratives, analysis into action, and data into social justice for all African women and girls,” said Nathalie Gahunga, Manager of the Gender and Women Empowerment Division at the African Development Bank.

    “Data is the key to change. Yet, in 15 African countries, only 52 percent of gender-related indicators clearly differentiate between women and men. This gap undermines progress in maternal health, political participation, and violence prevention,“ she added.

    According to UN Women and the Partnership in Statistics for Development in the 21st Century PARIS21, African countries have achieved just over 50 percent of their potential gender data capacity. While some countries are performing above the global average, the continent lags behind.

    “An Africa that is people-driven needs sound data that accurately reflects the realities of women and girls,” said Aberash Tariku Abaye Africa, Coordination Statistics Expert at the African Union Institute for Statistics.

    “Including women in Africa’s development is therefore critical for sustainable economic growth and social development,” said Adjaratou Ndiaye, Country Representative, UN Women, Cote Ivoire.  “We can’t achieve that without strong gender data and this calls for countries and sectors to work closely together to identify and address gaps for stronger data systems across the region.”

    The Forum is expected to conclude with recommendations aimed at supporting institutions, processes, and resources to produce, disseminate, and utilize gender-related data. This will ensure coordination between gender data producers and users, grounding policies across Africa in solid evidence and real-life data.

    MIL OSI Economics –

  • MIL-OSI Africa: FMDQ Group and Frontier Africa Reports (FAR) Sign Agreement to Launch Live Daily Broadcast of Frontier Africa Financial News Programming

    Source: APO

    FMDQ Group (www.FMDQGroup.com),  Africa’s first vertically integrated financial market infrastructure group, operating through wholly-owned subsidiaries in the business of Exchange, Clearing and Depository has agreed to cooperate and support Frontier Africa Reports (www.FrontierAfricaReports.com) towards advancing the promotion of knowledge and information about African financial markets. 

    The FMDQ Group and Frontier Africa Reports on Wednesday, June 3rd signed-off on their six-year relationship, that will enable the FAR organisation to broadcast pan-African financial and business news, and related programming, live from the in-house studio facilities of the FMDQ Group. 

    Kaodi Ugoji, Group Chief Operating Officer, FMDQ Group says at the signing of the Memorandum of Understanding, that the group firmly believes in the ability and the experience of Frontier Africa Reports (FAR) team, led by its CEO Boason Omofaye, a veteran financial news broadcast journalist to manage, operate and utilize the broadcast facilities to deepen the knowledge of the African markets (equities, debt, currencies, derivatives, venture capital, commodities, etc.), increase investors awareness and, provide a platform of engagement and information for issuers as well as trading/dealing firms, among others. 

    Boason Omofaye, Chief Executive Officer of Pure Language Communications Limited (the operator of Frontier Africa Reports) says, that the studio operations and technical support agreement with the FMDQ Group, provide a veritable platform to deliver expansive regular audio and video live programming of market news, analysis, updates, interviews, etc. Frontier Africa Reports will ensure that its productions leave no African economy, its markets, people and institutions behind. This aligns with the market integration objectives of the African Exchange Linkage Project (AELP), led by the African Securities Exchanges Association (ASEA) and supported by the African Development Bank Group (AfDB). 

    Frontier Africa Reports (FAR) plans to flag-off its first market-focused programming, live from the FMDQ studios in mid-July, via its YouTube channel, which will also be available on its website and social media platforms. Other programming, including its Frontier Africa Radio (FAR) podcasts are due to follow.  

    The FMDQ Group and Frontier Africa Reports have spent the past two years retooling and investing in the broadcast studios facility, which is located in Victoria Island, Lagos. 

    Distributed by APO Group on behalf of Frontier Africa Reports.

    For Enquiries Contact: 
    Boason Omofaye  
    Chief Executive Officer 
    Frontier Africa Reports  
    Email: boasonfaye@frontierafricareports.com 
    M: +234 806 265 7458 

    About FMDQ Group: 
    FMDQ Group is Africa’s first vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets., through its wholly owned subsidiaries – FMDQ Securities Exchange Limited, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. www.FMDQGroup.com  

    About Frontier Africa Reports:  
    Frontier Africa Reports is a content development, as well as a production and broadcast organisation, that is focused on pan-African business, economic, investment and financial market news audio/video online programming, streaming across all digital platforms in Africa and around the world. www.FrontierAfricaReports.com

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI Economics: Central Bank of Bahrain Issues Framework for Regulating Stablecoin Issuance

    Source: Central Bank of Bahrain

    Published on 4 July 2025

    Manama, Kingdom of Bahrain, 4 July 2025 – The Central Bank of Bahrain (CBB) announced the introduction of a framework for licensing and regulating stablecoin issuers, aimed at ensuring the safe and sound integration of stablecoins into the financial system.

    Under the new stablecoin regulation, licensed stablecoin issuers are permitted to issue single currency stablecoins backed by Bahraini Dinar (BHD), United States Dollar (USD), or any other fiat currency acceptable by the CBB. Furthermore, the new regulation aims to mitigate the risks associated with the use of unregulated stablecoins, and ensure a safer and more secure ecosystem, fostering investor confidence and promoting sustainable growth within the sector.

    Commenting on the new regulations, Mr. Mohamed Al Sadek, Executive Director of Market Development at CBB said: “By encouraging the development and adoption of innovative financial technologies, the CBB aims to enhance Bahrain’s position as a leading financial hub in the MENA region. This milestone reflects the pioneering role the CBB continues to play in overseeing the crypto-asset market and ensuring that the Kingdom’s financial services landscape equipped for future developments.”

    Mr. Ali Haroon AlAamer, Director – Capital Markets Supervision Directorate, said: “This initiative underscores the CBB’s unwavering commitment to integrating crypto-related activities within its regulatory framework and ensuring they are subject to comprehensive oversight. It also highlights the CBB’s dedication to providing robust investor protection measures and maintaining a transparent crypto asset market.”

    The announcement was made during the FS Horizons: Doubling Down on Digital event, hosted in partnership with the Bahrain Economic Development Board, where industry leaders gathered to highlight Bahrain’s advancements in digital banking, payments infrastructure, and talent development.

    The new “Stablecoin Issuance and Offering (SIO) Module” can be found in Volume 6 (Capital Markets) of the CBB Rulebook on CBB’s website cbb.gov.bh.

     

    Share this

    MIL OSI Economics –

  • MIL-OSI Europe: Spain: EIB and ULMA Group sign €45 million loan to support innovation and sustainability in the construction value chain

    Source: European Investment Bank

    EIB

    • The loan will boost investment by ULMA Group in new solutions to cut consumption and recycle materials, upgrade its facilities, and increase its energy efficiency.
    • It will also go towards building a new plant to develop advanced technologies for the production of materials.
    • The financing agreement supports the EIB’s strategic priorities for innovation and climate action, and its affordable and sustainable housing initiative.

    The European Investment Bank (EIB) and ULMA Group have signed a €45 million loan to finance the company’s innovation and sustainability activities. ULMA Group is a Spanish industrial cooperative group based in the Basque Country, with a strong international presence. Among its nine business lines, the manufacture of equipment, innovative materials and other solutions for the construction sector stands out.

    The EIB loan will finance the Group’s investments in advanced manufacturing technologies for its construction business line and polymer concrete architectural solutions. It will also help provide the investment needed for the construction of a plant to produce new, sustainable building materials. In addition, the EIB will support ULMA Group as it improves its energy efficiency, furthering its decarbonisation and sustainability strategy. The investments will be made in ULMA operations in the autonomous community of the Basque Country.

    Antonio Lorenzo, Head of Corporate Lending in the EIB for Spain and Portugal, said: “With this operation, the EIB is supporting the EU construction industry, contributing to its sustainability, innovation and competitiveness. Supporting this industry is also a key part of the Bank’s commitment to adopting innovative materials and technologies in construction, to increase access to affordable and sustainable housing for all Europeans.”

    The financing agreement supports innovation, climate action and environmental sustainability, and social infrastructure in the European Union, which are three of the eight core priorities set out in the EIB Group 2024-2027 Strategic Roadmap. Social infrastructure is being supported by the ULMA deal’s contribution to the EIB’s affordable and sustainable housing initiative.

    General Manager of ULMA Group Iñaki Gabilondo said: “This agreement will allow us to pursue innovative sustainability projects in the construction sector, with a clear positive impact for people and the world we live in. It bolsters our strong commitment to creating a more efficient, responsible and forward-looking industrial model. In addition, having the support of a prestigious organisation like the EIB is clear recognition of the value and robustness of this social business endeavour.”

    Background information

    European Investment Bank

    The EIB is the long-term lending institution of the European Union, owned by the Member States. Operating around eight core priorities, it finances investments that pursue EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

    All projects financed by the EIB Group are in line with the Paris Agreement, as pledged in its Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects that contribute directly to climate change mitigation and adaptation, and a healthier environment.

    In Spain, the EIB Group signed new financing worth €12.3 billion for over 100 high-impact projects in 2024, contributing to the country’s green and digital transition, economic growth, competitiveness and better services for its people.

    High-quality, up-to-date photos of the organisation’s headquarters for media use are available here.

    ULMA Group

    ULMA Group is made up of nine industrial cooperatives that employ 5 747 people and operate across 81 countries. With a total sales volume of €1.15 billion in 2024, ULMA Group is an illustration of success in the Basque cooperative movement.

    Since it was founded, it has been able to continuously grow and diversify its business lines and activities, as a social business project that works for the betterment of its surroundings.

    The nine companies that make up ULMA are exemplary operators in diverse industrial sectors, providing solutions for construction, packaging machinery, smart warehousing, forging, prefabricated systems for drainage and architecture, rollers for conveyor belts, maintenance services, greenhouse manufacturing and embedded electronics. The latest innovation out of ULMA Group applies artificial intelligence in the healthcare field for early detection of certain diseases.

    MIL OSI Europe News –

  • MIL-OSI Europe: Spain: EIB and ULMA Group sign €45 million loan to support innovation and sustainability in the construction value chain

    Source: European Investment Bank

    EIB

    • The loan will boost investment by ULMA Group in new solutions to cut consumption and recycle materials, upgrade its facilities, and increase its energy efficiency.
    • It will also go towards building a new plant to develop advanced technologies for the production of materials.
    • The financing agreement supports the EIB’s strategic priorities for innovation and climate action, and its affordable and sustainable housing initiative.

    The European Investment Bank (EIB) and ULMA Group have signed a €45 million loan to finance the company’s innovation and sustainability activities. ULMA Group is a Spanish industrial cooperative group based in the Basque Country, with a strong international presence. Among its nine business lines, the manufacture of equipment, innovative materials and other solutions for the construction sector stands out.

    The EIB loan will finance the Group’s investments in advanced manufacturing technologies for its construction business line and polymer concrete architectural solutions. It will also help provide the investment needed for the construction of a plant to produce new, sustainable building materials. In addition, the EIB will support ULMA Group as it improves its energy efficiency, furthering its decarbonisation and sustainability strategy. The investments will be made in ULMA operations in the autonomous community of the Basque Country.

    Antonio Lorenzo, Head of Corporate Lending in the EIB for Spain and Portugal, said: “With this operation, the EIB is supporting the EU construction industry, contributing to its sustainability, innovation and competitiveness. Supporting this industry is also a key part of the Bank’s commitment to adopting innovative materials and technologies in construction, to increase access to affordable and sustainable housing for all Europeans.”

    The financing agreement supports innovation, climate action and environmental sustainability, and social infrastructure in the European Union, which are three of the eight core priorities set out in the EIB Group 2024-2027 Strategic Roadmap. Social infrastructure is being supported by the ULMA deal’s contribution to the EIB’s affordable and sustainable housing initiative.

    General Manager of ULMA Group Iñaki Gabilondo said: “This agreement will allow us to pursue innovative sustainability projects in the construction sector, with a clear positive impact for people and the world we live in. It bolsters our strong commitment to creating a more efficient, responsible and forward-looking industrial model. In addition, having the support of a prestigious organisation like the EIB is clear recognition of the value and robustness of this social business endeavour.”

    Background information

    European Investment Bank

    The EIB is the long-term lending institution of the European Union, owned by the Member States. Operating around eight core priorities, it finances investments that pursue EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

    All projects financed by the EIB Group are in line with the Paris Agreement, as pledged in its Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects that contribute directly to climate change mitigation and adaptation, and a healthier environment.

    In Spain, the EIB Group signed new financing worth €12.3 billion for over 100 high-impact projects in 2024, contributing to the country’s green and digital transition, economic growth, competitiveness and better services for its people.

    High-quality, up-to-date photos of the organisation’s headquarters for media use are available here.

    ULMA Group

    ULMA Group is made up of nine industrial cooperatives that employ 5 747 people and operate across 81 countries. With a total sales volume of €1.15 billion in 2024, ULMA Group is an illustration of success in the Basque cooperative movement.

    Since it was founded, it has been able to continuously grow and diversify its business lines and activities, as a social business project that works for the betterment of its surroundings.

    The nine companies that make up ULMA are exemplary operators in diverse industrial sectors, providing solutions for construction, packaging machinery, smart warehousing, forging, prefabricated systems for drainage and architecture, rollers for conveyor belts, maintenance services, greenhouse manufacturing and embedded electronics. The latest innovation out of ULMA Group applies artificial intelligence in the healthcare field for early detection of certain diseases.

    MIL OSI Europe News –

  • MIL-OSI Europe: Final draft agenda – Tuesday, 8 July 2025 – Strasbourg

    Source: European Parliament

    84 Tackling China’s critical raw materials export restrictions     – Motions for resolutions Monday, 7 July 2025, 19:00     – Amendments to motions for resolutions; joint motions for resolutions Tuesday, 8 July 2025, 19:00     – Amendments to joint motions for resolutions Tuesday, 8 July 2025, 20:00     – Requests for “separate”, “split” and “roll-call” votes Wednesday, 9 July 2025, 16:00 55 The role of gas storage for securing gas supplies ahead of the winter season
    Borys Budka (A10-0079/2025)      – Amendments; rejection Wednesday, 2 July 2025, 13:00 39 Temporary derogation from certain provisions of Regulations (EU) 2017/2226 and (EU) 2016/399
    Assita Kanko (A10-0082/2025)      – Amendments; rejection Wednesday, 2 July 2025, 13:00 30 EU-Greenland and Denmark Sustainable Fisheries Partnership Agreement: Implementing Protocol 2025-2030 (Resolution)
    Emma Fourreau (A10-0103/2025)      – Amendments Wednesday, 2 July 2025, 13:00 23 Financial activities of the European Investment Bank – annual report 2024
    Francisco Assis (A10-0112/2025)      – Amendments Wednesday, 2 July 2025, 13:00 44 Security of energy supply in the EU
    Beata Szydło (A10-0121/2025)      – Amendments by the rapporteur, 71 MEPs at least; Alternative motions for resolutions Wednesday, 2 July 2025, 13:00 19 2023 and 2024 reports on Albania
    Andreas Schieder (A10-0106/2025)      – Amendments Wednesday, 2 July 2025, 13:00 18 2023 and 2024 reports on Bosnia and Herzegovina
    Ondřej Kolář (A10-0108/2025)      – Amendments Wednesday, 2 July 2025, 13:00 46 2023 and 2024 reports on North Macedonia
    Thomas Waitz (A10-0118/2025)      – Amendments Wednesday, 2 July 2025, 13:00 17 2023 and 2024 reports on Georgia
    Rasa Juknevičienė (A10-0110/2025)      – Amendments Wednesday, 2 July 2025, 13:00 Separate votes – Split votes – Roll-call votes Texts put to the vote on Tuesday Friday, 4 July 2025, 12:00 Texts put to the vote on Wednesday Monday, 7 July 2025, 19:00 Texts put to the vote on Thursday Tuesday, 8 July 2025, 19:00 Motions for resolutions concerning debates on cases of breaches of human rights, democracy and the rule of law (Rule 150) Wednesday, 9 July 2025, 19:00

    MIL OSI Europe News –

  • MIL-OSI Europe: Final draft agenda – Tuesday, 8 July 2025 – Strasbourg

    Source: European Parliament

    84 Tackling China’s critical raw materials export restrictions     – Motions for resolutions Monday, 7 July 2025, 19:00     – Amendments to motions for resolutions; joint motions for resolutions Tuesday, 8 July 2025, 19:00     – Amendments to joint motions for resolutions Tuesday, 8 July 2025, 20:00     – Requests for “separate”, “split” and “roll-call” votes Wednesday, 9 July 2025, 16:00 55 The role of gas storage for securing gas supplies ahead of the winter season
    Borys Budka (A10-0079/2025)      – Amendments; rejection Wednesday, 2 July 2025, 13:00 39 Temporary derogation from certain provisions of Regulations (EU) 2017/2226 and (EU) 2016/399
    Assita Kanko (A10-0082/2025)      – Amendments; rejection Wednesday, 2 July 2025, 13:00 30 EU-Greenland and Denmark Sustainable Fisheries Partnership Agreement: Implementing Protocol 2025-2030 (Resolution)
    Emma Fourreau (A10-0103/2025)      – Amendments Wednesday, 2 July 2025, 13:00 23 Financial activities of the European Investment Bank – annual report 2024
    Francisco Assis (A10-0112/2025)      – Amendments Wednesday, 2 July 2025, 13:00 44 Security of energy supply in the EU
    Beata Szydło (A10-0121/2025)      – Amendments by the rapporteur, 71 MEPs at least; Alternative motions for resolutions Wednesday, 2 July 2025, 13:00 19 2023 and 2024 reports on Albania
    Andreas Schieder (A10-0106/2025)      – Amendments Wednesday, 2 July 2025, 13:00 18 2023 and 2024 reports on Bosnia and Herzegovina
    Ondřej Kolář (A10-0108/2025)      – Amendments Wednesday, 2 July 2025, 13:00 46 2023 and 2024 reports on North Macedonia
    Thomas Waitz (A10-0118/2025)      – Amendments Wednesday, 2 July 2025, 13:00 17 2023 and 2024 reports on Georgia
    Rasa Juknevičienė (A10-0110/2025)      – Amendments Wednesday, 2 July 2025, 13:00 Separate votes – Split votes – Roll-call votes Texts put to the vote on Tuesday Friday, 4 July 2025, 12:00 Texts put to the vote on Wednesday Monday, 7 July 2025, 19:00 Texts put to the vote on Thursday Tuesday, 8 July 2025, 19:00 Motions for resolutions concerning debates on cases of breaches of human rights, democracy and the rule of law (Rule 150) Wednesday, 9 July 2025, 19:00

    MIL OSI Europe News –

  • MIL-OSI Europe: Final draft agenda – Monday, 7 July 2025 – Strasbourg

    Source: European Parliament

    23 Financial activities of the European Investment Bank – annual report 2024
    Francisco Assis (A10-0112/2025) 
        – Amendments Wednesday, 2 July 2025, 13:00
    27 Product safety and regulatory compliance in e-commerce and non-EU imports
    Salvatore De Meo (A10-0133/2025) 
        – Amendments by the rapporteur, 71 MEPs at least; Alternative motions for resolutions Thursday, 3 July 2025, 13:00
        – Joint alternative motions for resolutions Friday, 4 July 2025, 12:00
    Texts put to the vote on Tuesday Friday, 4 July 2025, 12:00
    Texts put to the vote on Wednesday Monday, 7 July 2025, 19:00
    Texts put to the vote on Thursday Tuesday, 8 July 2025, 19:00
    Motions for resolutions concerning debates on cases of breaches of human rights, democracy and the rule of law (Rule 150) Wednesday, 9 July 2025, 19:00

    MIL OSI Europe News –

  • MIL-Evening Report: Palestine protesters target NZ businesses ‘complicit’ with Israel’s Gaza genocide

    Asia Pacific Report

    Protesters against the Israeli genocide in Gaza and occupied West Bank targeted three business sites accused of being “complicit” in Aotearoa New Zealand today.

    The Palestine Solidarity Network Aotearoa’s “End Rocket Lab Genocide Complicity” themed protest picketed Rocket Lab’s New Zealand head office in Mt Wellington.

    Simultaneously, protesters also picketed a site in Warkworth where Rocket Lab equipment is built and Mahia peninsula where satellites are launched.

    In a statement on the PSNA website, it was revealed this week that the advocacy group’s lawyers have prepared a 103-page “indictment” against two business leaders, including the head of Rocket Lab, along with four politicians, including Prime Minister Christopher Luxon.

    They have been referred to the International Criminal Court (ICC) in The Hague for investigation on an accusation of complicity with Israel’s genocide in Gaza.

    Rocket Lab chief executive Sir Peter Beck is one of the six people named in the legal brief.

    “Rocket Lab has recently launched geospatial intelligence satellites for BlackSky Technology,” said PSNA co-chair John Minto in a statement.

    High resolution images
    “These satellites provide high resolution images to Israel which are very likely used to assist with striking civilians in Gaza. Sir Peter has proceeded with these launches in full knowledge of these circumstances”

    A “Genocide Lab” protest against Rocket Lab in Mt Wellington today. Image: PSNA

    “When governments and business leaders can’t even condemn a genocide then civil society groups must act.”

    The other business leader named is Rakon Limited chief executive officer Dr Sinan Altug.

    “Despite vast weapons transfers from the United States to Israel since the beginning of its war on Gaza, Rakon has continued with its longstanding supply of crystal oscillators to US arms manufacturers for use in guided missiles which are then available to Israel for the bombing of Gaza, as well as Lebanon, Syria, Yemen and Iran with consequential massive loss of life,” Minto said.

    “Rakon’s claims that it has no responsibility over how these ‘dual-use’ technologies are used are not credible.”

    Rocket Lab and Rakon have in the past rejected claims over their responsibility.

    Speakers at Mount Wellington included the Green Party spokesperson for foreign affairs Teanau Tuiono; Dr Arama Rata, a researcher and lecturer from Victoria University; and Sam Vincent, the legal team leader for the ICC referral.

    Law academic Professor Jane Kelsey spoke at the Warkworth picket.

    Amnesty International, Human Rights Watch, leading international scholars and the UN Special Committee to investigate Israel’s practices have all condemned Israel’s actions as genocide.

    Protesters against Rocket Lab’s alleged complicity with Israel’s genocide in Gaza today. Image: Del Abcede/APR

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Banking: Deaf people can now feel music as future of innovation unveiled at Samsung Solve for Tomorrow competition

    Source: Samsung

     
    LONDON, UK – 4 July – Samsung Electronics Co., Ltd. has announced the winners of its fifth annual Solve for Tomorrow competition, which aims to uncover the most promising tech inventions from young people by asking 16-25 year olds to come up with ideas that help solve societal challenges.
     
    The ideas showcased the passion young people have for future innovation and their drive to design a better world – exploring how technology can solve the issues they care about while tackling broader societal challenges. Nottingham based Eseose Okotako (23) of team Athena was announced as the winner in the 18-25 category with their impressive idea, a haptic collar that syncs with any audio to translate music into tailored vibrations, allowing deaf users to feel melody, rhythm and emotion.
     
    Meanwhile, in the 16-18 category, Manchester based trio Daniel Aju (18), Harris Asif (18) and Nahom Ghirmay (18) of team Sanoband were announced in first place following their idea of a device that aims to help individuals with alcohol addiction by detecting cravings early, preventing relapse and supporting long-term recovery.
     
    This year marked the first time the competition shortlisted 100 young people for workshops and mentoring stage, an increase from 24 to 49 teams in total, nearly doubling the number of participants. Samsung also supported every shortlisted young person with Samsung products.
     
    Entries this year ranged from an assistive glove that replaces the lost dexterity within people with immobile hands, to an AI-driven breast health app that syncs with wearables to guide self-exams, track changes, and generate clinician-ready reports. An app, designed by team HeartAware that uses an AI-powered tool on your phone to detect heart risks, also received critical acclaim from the judges.
     
    On top of this, team Zera, who designed a thermoelectric device to ease menopausal symptoms also won the People’s Choice Award – the best of the finalist submissions, which was voted on by over 2,000 people on Samsung’s social channels.
     
    The 100 were shortlisted by a panel of Samsung experts and tech-for-good founders who reviewed submissions from 508 eligible applicants across the country, 49 teams took part in a programme of design thinking, market research and a newly introduced physical and digital prototyping workshop. Throughout the process, they also received mentoring, support and guidance from Samsung colleagues to help bring their ideas to life.
     
    The programme follows statistics released that show nearly two-thirds (60%) of young people across the UK are considering a career in technology. Yet, 96% of respondents believe there are barriers to entering the industry and 65% feel their personal background impacts their ability to harness their creativity through tech.[1] The Solve for Tomorrow programme exists to prove that young people from all walks of life can come up with ideas that can make a difference in the world through the use of technology.
     
    The existing partnerships between Samsung UK and organisations such as InnovateHer and the Social Mobility Foundation are essential to this mission, helping to reach and support young people who aren’t currently in education, employment or training.
     
    The shortlisted ten teams were invited to Samsung’s head offices to showcase their ideas and formally pitch to a panel of Samsung experts and tech entrepreneurs. This was followed by the annual Solve for Tomorrow awards ceremony, where the winners were crowned.
     
    Speaking about this year’s Solve for Tomorrow competition, Soohyun Jessie Park, Head of Corporate Social Responsibility at Samsung Electronics UK, said: “Solve for Tomorrow continues to empower young people to reflect on what truly matters to them whilst simultaneously channelling these passions into tangible action. It’s phenomenal to witness what young people are capable of even within the space of four months on the programme. Their commitment and passion is an inspiration and we’re so excited to support Eseose and team Sanoband to bring their ideas closer to the communities they care about.”
     
    Eseose from team Athena, said: “It was an amazing experience being a part of this year’s Samsung Solve for Tomorrow competition. You don’t need qualifications or a team to enter – just a great idea! The experience has been incredibly valuable and helped with my confidence, and I strongly encourage anyone who is interested to give it a go. I’m glad I did!”
     
    More details on how to enter the next Solve for Tomorrow competition will be announced later this year.
     
    For more information on Solve for Tomorrow visit: https://www.samsung.com/uk/solvefortomorrow/
     
     
    [1] Consumer research was commissioned to 1,000 UK teenagers aged 13-19 between the 4th and 10th October 2024 by OnePoll. Onepoll are members of ESOMAR and comply with the ESOMAR guidelines for online research.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Secretary-General of ASEAN to participate in the 58th ASEAN Foreign Ministers’ Meeting and Related Meetings in Kuala Lumpur, Malaysia

    Source: ASEAN

    At the invitation of The Honourable Dato’ Seri Utama Haji Mohamad bin Haji Hasan, Chair of the ASEAN Foreign Ministers’ Meeting in 2025 and Minister of Foreign Affairs of Malaysia, Secretary-General of ASEAN, Dr. Kao Kim Hourn, will lead the ASEAN Secretariat delegation to participate in the 58th ASEAN Foreign Ministers’ Meeting, the ASEAN Post Ministerial Conferences, the 26th ASEAN Plus Three Foreign Ministers’ Meeting, the 15th East Asia Summit Foreign Ministers’ Meeting, the 32nd ASEAN Regional Forum, and the meeting of the SEANWFZ Commission. The series of meetings hosted by Malaysia, as ASEAN Chair for 2025, will take place in Kuala Lumpur, Malaysia, on 8-11 July 2025, under the theme “Inclusivity and Sustainability.” While in Malaysia, Dr. Kao will hold bilateral meetings with Foreign Ministers from ASEAN Member States and ASEAN’s external partners to exchange views on recent regional and global developments, and to explore new ideas for strengthening and broadening cooperation and partnerships in support of the implementation of ASEAN 2045: Our Shared Future. Dr. Kao is also scheduled to hold an interface with AICHR Representatives on the margins of the 58th AMM and Related Meetings.
    The post Secretary-General of ASEAN to participate in the 58th ASEAN Foreign Ministers’ Meeting and Related Meetings in Kuala Lumpur, Malaysia appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI China: Deloitte announces China’s 2025 Best Managed Companies

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

    Deloitte China announced 75 winners of the 2025 China’s Best Managed Companies awards program in Beijing on July 4. The combined 2024 revenue of the winners hit approximately 3.2 trillion yuan.

    Among those awarded, 12 are new winners, 13 platinum winners have received the award for seven consecutive years, 11 companies have won for five consecutive years and 6 for six consecutive years, with 33 other consecutive-year winners. 

    “The winning companies this year cover multiple industries including consumer, industrial manufacturing, technology, life sciences, energy, real estate, education, and finance,” said Zhao Jian, lead partner of the Deloitte China BMC Program. “The BMC program is not only a long-standing selection activity but also a platform and window for showcasing excellent enterprises.”

    Wang Tuoxuan, Deloitte China North & West China managing partner said this year’s BMC results demonstrate the strong vitality and adaptability of outstanding private enterprises under pressure.

    “China’s private economy is at a critical juncture of shifting growth drivers and enhancing resilience,” said Wang. Despite complex and changing external challenges, a group of outstanding private enterprises have been embracing change, internalizing the national strategic direction of high-quality development, and accelerating new quality productive forces as the core driver for their transformation and upgrading.

    As co-organizer and strategic academic partner of the BMC program, Professor Hui Kai-Lung, acting dean of HKUST Business School, added. “The deep resonance between excellent management practices and business education innovation is reshaping the growth paradigm of Chinese enterprises. These companies are not only industry benchmarks but also living textbooks for business education.”

    “2025 is the final year of the 14th Five-Year Plan and the planning year for the 15th Five-Year Plan,” said Liu Xiao, co-publisher of Harvard Business Review China (Chinese edition) in his interpretation of the BMC list. “Facing the dual challenges of global value chain restructuring and accelerating technological revolution, enterprises not only need technological breakthroughs, innovation in production factors, and deep industrial transformation and upgrading, but also a corresponding paradigm shift in development to foster the emergence of new quality productive forces.”

    With a history of 32 years and a network spanning nearly 50 countries and regions, BMC is co-launched by Deloitte, Bank of Singapore, HKUST Business School and Harvard Business Review, with an aim to find companies with systematic and excellent management capabilities.

    MIL OSI China News –

  • MIL-OSI Africa: Special Envoy of Minister of Foreign Affairs Meets Several Officials on Margin of Doha Process on Afghanistan Meeting

    Source: Government of Qatar

    Doha, July 03, 2025

    HE Special Envoy of the Minister of Foreign Affairs Ambassador Faisal bin Abdullah Al Hanzab met separately with HE Special Assistant to the Prime Minister, Minister of State, and Special Representative of the Islamic Republic of Pakistan for Afghanistan Muhammad Sadiq, HE Special Representative of the Secretary-General for Afghanistan and Head of the United Nations Assistance Mission in Afghanistan Roza Isakovna Otunbayeva, HE Assistant Secretary-General for Humanitarian, Cultural and Social Affairs of the Organization of Islamic Cooperation (OIC) and Special Envoy to Afghanistan Tariq Ali Bakheet, World Bank’s Country Director for Afghanistan Faris Hadad, on the margin of the meetings of the working groups of the Doha Process on Afghanistan.

    The meetings discussed cooperation relations and ways to support and develop them. They also discussed developments in Afghanistan and strengthening efforts to advance the UN-led Doha Process on Afghanistan.

    MIL OSI Africa –

  • MIL-OSI Banking: CBB Announces Strategic Partnership with ARRAY Innovation to Advance Digital Transformation Agenda

    Source: Central Bank of Bahrain

    CBB Announces Strategic Partnership with ARRAY Innovation to Advance Digital Transformation Agenda

    Published on 4 July 2025

    Manama, Bahrain – 3 July 2025: The Central Bank of Bahrain (CBB) has entered a strategic partnership with ARRAY Innovation, a local portfolio company of Bahrain Mumtalakat Holding Company, to accelerate its digital transformation initiatives. The partnership agreement was signed in the presence of HE Khalid Humaidan, Governor of the Central Bank of Bahrain, and HE Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, on the sidelines of the FS Horizons: Doubling Down on Digital event, hosted in collaboration with the Bahrain Economic Development Board.

    As part of the agreement, ARRAY Innovation will provide strategic advisory and professional services to the CBB to develop and execute key technology initiatives, drawing on its global expertise in payments technology, artificial intelligence (AI), and cloud-based solutions.

    Commenting on the partnership, Mr. Mohamed Abdulla Abdulkarim, Executive Director of Corporate Services at the CBB, said, “We are pleased to work with a partner whose expertise and technology solution development capabilities align with CBB’s vision for regulatory innovation and growth, and our ongoing efforts in deploying and developing a robust digital ecosystem. With this public-private partnership, our aim is to enhance CBB’s institutional capacity, strengthen our technology infrastructure, and further solidify Bahrain’s standing as a regional financial hub.”

    For his part, Mr. Alaa Saeed, Chief Executive Officer and Founder of ARRAY Innovation, remarked, “We are honored to support the CBB on this strategic journey. Our team will work closely with the Bank to introduce solutions that drive impact and advance the Kingdom’s broader ambitions for digital enablement and economic diversification. This partnership also underscores our dedication towards nurturing local tech talent in Bahrain and contributing to the growth of its innovation economy.”

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    MIL OSI Global Banks –

  • MIL-OSI Africa: Rwanda to Restore Ecosystems and Boost Climate Resilience in the Nyungwe–Ruhango Corridor

    Source: APO


    .

    Communities in Rwanda’s Southern Province are set to benefit from restored ecosystems, improved agricultural productivity, and expanded sustainable livelihood opportunities in areas vulnerable to climate-related shocks. Thanks to a newly approved $9 million grant from the Global Environment Facility, Rwanda will receive support for integrated landscape restoration and climate-smart land management across the Nyungwe–Ruhango Corridor.

    The Ecosystem-Based Restoration Approach for Nyungwe-Ruhango Corridor Project is one of 20 projects of the GEF-8 Ecosystem Restoration Integrated Program (ERIP) across the globe. ERIP scales up ecosystem restoration efforts by transforming degraded lands into thriving ecosystems and promotes private sector engagement and South-South exchange across the beneficiary countries. Conservation International is the ERIP lead agency.

    “This project reflects the strong partnership between the World Bank and the Government of Rwanda in building climate resilience and driving inclusive green growth,” said Sahr Kpundeh, World Bank Country Manager for Rwanda. “It aligns with our Country Partnership Framework and global priorities on climate adaptation, biodiversity conservation, and empowering local communities to lead sustainable change.”

    The Rwanda GEF-8 will support the rehabilitation of 2,162 hectares of forests and wetlands, promote sustainable land management practices across 8,931 hectares of farmland, and help develop income-generating activities that reduce pressure on fragile ecosystems, directly benefiting more than 289,000 people in Ruhango, Nyanza, and Nyamagabe Districts.

    The project will contribute to the World Bank Group’s core objective of creating more and better jobs to reduce poverty and unlock economic opportunities, especially for the youth.  Early estimates suggests that the project could generate over 2,200 jobs through sustainable livelihoods interventions. These include the development of non-timber forest product value chains, fruit tree planting, and support for small businesses in the green economy. The project will also engage the private sector to explore investment opportunities that promote climate-smart land use and sustainable forest management.

    “This is a timely intervention that combines ecological restoration with community resilience,” said Tuuli Bernardini, Senior Environmental Specialist at the World Bank. “By centering the role of women, youth, and local enterprises in landscape management, the project supports inclusive development and paves the way for scalable nature-based solutions.”

    Implemented by the Rwanda Environment Management Authority (REMA), the project adopts a landscape-based approach to address environmental degradation, food insecurity, climate risks, such as floods and landslides; threats that disrupt infrastructure, destroy crops, and deepen poverty in the Southern province. At its core, the Rwanda GEF-8 aims to restore ecosystems that provide critical services such as erosion control, flood regulation and habitats for biodiversity. Key interventions will include afforestation, reforestation, riverbank and wetland rehabilitation and the promotion of agroforestry and other climate-smart agricultural practices.

    The Rwanda GEF-8 forms part of a broader suite of World Bank-supported investments in conservation and sustainable land management along the Congo-Nile divide covering parts of the Northern, Western, and Southern Province. These include the Volcanoes Community Resilience Project  and Commercialization and De-Risking for Agricultural Transformation Project. Building on lessons from Rwanda’s earlier efforts such as the Landscape Approach to Forest Restoration and Conservation (LAFREC), these initiatives align with the National Strategy for Transformation (NST2), and are expected to deliver significant outcomes in biodiversity conservation, resilience building and improved community livelihoods.

    Distributed by APO Group on behalf of The World Bank Group.

    MIL OSI Africa –

  • MIL-OSI Banking: Development Asia: Strategic Fiscal Policy for Public Health: The Use of Health Tax in Asia and the Pacific

    Source: Asia Development Bank

    The implementation of health taxes requires coordination and collaboration across different government agencies to ensure alignment and coherence across all sectors, particularly the Ministry of Finance (tax administration and design) and the Ministry of Health (advocating for health and evidence). Several countries in Asia and the Pacific have successfully implemented health tax strategies to improve public health and achieve health-financing goals.

    Case Study: the Philippines

    The 2012 Sin Tax reform in the Philippines marked a landmark policy shift by introducing a unitary excise tax with scheduled increases annually on tobacco and alcohol products. The reform was framed as a health policy reform rather than revenue generation. It adopted a strong intergovernmental approach, with active collaboration from the Ministry of Finance and Department of Health. The reform received tremendous support from both the public and government agencies. Between 2012 and 2018, prices of tobacco products increased by 113%, which led to a 30% plunge in smoking prevalence among adults and a 10%–18% drop among young adolescents in 2009–2021. This tax scheme also tripled tax revenues, reaching almost $3 billion in 2022.

    Despite these gains, the percentage share of health taxes remains limited, and the tobacco products are still relatively affordable due to the stagnant annual tax adjustment. The initial plan to adjust the tax every year according to inflation and population growth has not been applied, leading to limitations in deterring consumption. This emphasizes the importance of adjusting health tax rates in response to inflation, so the real value of the tax is maintained at the appropriate level.[1]

    Case Study: Thailand

    Thailand’s sugar-sweetened beverages tax, reformed in 2017 by the Ministry of Health, Ministry of Finance, and Thailand Health Promotion Foundation, represents another benchmark. It introduced a tiered-tax approach, where specific tax rates on sugar content and ad valorem (based on value) taxes were applied.

    The new ad valorem tax was reduced from 20% to a range of 0%–14% based on the type of beverage (e.g., 10% for fruit-related drinks). An additional specific tax rate was also used to adjust for sugar content, where beverages with more than 6 grams of sugar per 100 milliliters are taxed at higher rates than those with lower sugar content. During the first phase of implementation, average sugar content in beverages significantly dropped from 16.7g to 10.6g per 100ml.

    However, concerns have been raised regarding the impact of this tax on low-income populations. This situation emphasizes the need for clear and strategic communication to ensure transparency in monitoring and evaluation.

    MIL OSI Global Banks –

  • MIL-OSI Economics: Result of the 7-day Variable Rate Reverse Repo (VRRR) auction held on July 04, 2025

    Source: Reserve Bank of India

    Tenor 7-day
    Notified Amount (in ₹ crore) 1,00,000
    Total amount of offers received (in ₹ crore) 1,70,880
    Amount accepted (in ₹ crore) 1,00,010
    Cut off Rate (%) 5.47
    Weighted Average Rate (%) 5.44
    Partial Acceptance Percentage of offers received at cut off rate 60.45

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/651

    MIL OSI Economics –

  • Indian stock market opens marginally higher, Nifty above 25,400

    Source: Government of India

    Source: Government of India (4)

    The domestic benchmark indices opened marginally higher on Friday amid mixed global cues, with early buying seen in the IT, PSU bank and financial services sectors.

    At around 9:34 am, the Sensex was trading 32.52 points, or 0.04 per cent, higher at 83,271.99, while the Nifty added 3.45 points, or 0.01 per cent, to reach 25,408.75.

    According to analysts, the Nifty 50 opened on a positive note but failed to sustain its momentum, breaching its intraday support at 25,450 and forming a bearish candlestick pattern on the daily chart.

    “This development may signal a potential trend reversal; however, further confirmation is awaited. A sustained move above 25,600 could pave the way for a rally toward 25,750,” said Hardik Matalia, Derivative Analyst at Choice Broking.

    On the downside, immediate support is seen at 25,222 and 25,120, which could act as potential entry levels for long positions, he added.

    Nifty Bank was up 9.90 points, or 0.02 per cent, at 56,801.85 in early trade.

    The Nifty Midcap 100 index was trading at 59,771.65 after gaining 88.40 points, or 0.15 per cent. The Nifty Smallcap 100 index stood at 19,051.80, up 24.75 points, or 0.13 per cent.

    Analysts said investors should watch for possible changes in the earnings growth trajectory, indications of which will emerge with the Q1 results expected soon. Outperformance is likely to be company-specific rather than sector-specific.

    Among Sensex constituents, Bajaj Finance, Bajaj Finserv, BEL, HDFC Bank and Hindustan Unilever Limited were the top gainers. Trent, Tata Steel, Tech Mahindra and Titan were among the top losers.

    On the institutional front, Foreign Institutional Investors (FIIs) extended their selling streak for the fourth consecutive day, offloading equities worth Rs 1,481.19 crore on July 3. In contrast, Domestic Institutional Investors (DIIs) continued their buying activity, purchasing equities worth Rs 1,333.06 crore on the same day.

    In Asian markets, Bangkok, Hong Kong, Japan, Seoul and Jakarta were trading in the red, while only China was trading in the green.

    In the last trading session, the Dow Jones in the US closed at 44,828.53, up 344.11 points, or 0.77 per cent. The S&P 500 ended with a gain of 51.93 points, or 0.83 per cent, at 6,279.35, and the Nasdaq closed at 20,601.10, up 207.97 points, or 1.02 per cent.

    Viram Shah, Founder and CEO of Vested Finance, said the US markets closed sharply higher on Thursday on the back of a stronger-than-expected jobs report, with 147,000 jobs added and unemployment dipping to 4.1 per cent. This helped push the S&P 500 and Nasdaq to record highs.

    —IANS

  • MIL-OSI China: Announcement on Open Market Operations No.127 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.127 [2025]

    (Open Market Operations Office, July 4, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB34 billion through quantity bidding at a fixed interest rate on July 4, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB34 billion

    RMB34 billion

    Date of last update Nov. 29 2018

    2025年07月04日

    MIL OSI China News –

  • MIL-OSI China: Announcement on Open Market Operations No.127 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.127 [2025]

    (Open Market Operations Office, July 4, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB34 billion through quantity bidding at a fixed interest rate on July 4, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB34 billion

    RMB34 billion

    Date of last update Nov. 29 2018

    2025年07月04日

    MIL OSI China News –

  • MIL-OSI Economics: Money Market Operations as on July 03, 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) 6,29,660.72 5.15 1.00-6.40
         I. Call Money 17,240.47 5.26 4.75-5.35
         II. Triparty Repo 4,15,519.40 5.12 5.00-5.20
         III. Market Repo 1,94,980.30 5.20 1.00-5.60
         IV. Repo in Corporate Bond 1,920.55 5.39 5.32-6.40
    B. Term Segment      
         I. Notice Money** 151.55 5.21 4.90-5.30
         II. Term Money@@ 315.00 – 5.35-5.75
         III. Triparty Repo 4,973.40 5.24 5.20-5.30
         IV. Market Repo 1,284.86 5.28 5.25-5.35
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Thu, 03/07/2025 1 Fri, 04/07/2025 1,111.00 5.75
    4. SDFΔ# Thu, 03/07/2025 1 Fri, 04/07/2025 3,26,770.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -3,25,659.00  
    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, 27/06/2025 7 Fri, 04/07/2025 84,975.00 5.49
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       6,217.11  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -78,757.89  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -4,04,416.89  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on July 03, 2025 9,56,688.84  
         (ii) Average daily cash reserve requirement for the fortnight ending July 11, 2025 9,52,318.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ July 03, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on June 13, 2025 5,62,116.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/649

    MIL OSI Economics –

  • MIL-OSI Video: Challenges and opportunities: what lies ahead for the world economy?

    Source: European Central Bank (video statements)

    Tariffs and geopolitical conflicts have created uncertainty around the world. But how does the new trade environment affect inflation and the economy? How can central banks adapt? And what is the potential impact on the dominance of the US dollar ?

    In the third episode of our special Sintra series of the ECB Podcast, our host Paul Gordon talks to London School of Economics Professor Silvana Tenreyro.

    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    Published on 4 July 2025 and recorded on 1 July 2025.

    In this episode:
    01:30 How is the world economy doing?
    What developments are having an impact on our economy today? And what uncertainties are arising from tariffs, trade fragmentation and armed conflicts in different parts of the world?

    03:30 Tariffs, trade fragmentation and the economy
    How can trade tariffs and fragmentation affect economic growth and inflation in the euro area and beyond?

    06:25 How are prices changing?
    How are prices changing in different countries? Will tariffs cause prices in the United States to rise, and those in Asia and Europe to fall? And why?

    07:55 Lessons for central banks
    Given the extremely high level of uncertainty, what lessons from past shocks can central banks apply in the future? Why do we need clearly defined frameworks? And what role do governments play?

    09:55 How can governments prepare for potential shocks?
    Investing in technologies that are difficult to substitute, diversifying energy sources and creating buffers for critical inputs – why it’s crucial that governments have a strategy to withstand various shocks.

    12:05 What is a dominant currency?
    When is a currency considered internationally “dominant”? And what dominant currencies have there been in the past?

    13:40 Dollar dominance and monetary policy transmission
    Does dollar dominance in international trade transactions reduce the effectiveness of monetary policy?

    17:30 The future of dollar dominance
    How will the dominance of the US dollar develop in the future? Is its role as a primary reserve currency at risk due to the Trump Administration’s policies?

    19:10 What keeps you up at night?
    What happens to our economy if there is a sudden shortage of a certain input? What impact will AI have if it remains largely unregulated? And what do stablecoins and digital currencies mean for our economy?

    21:00 Our guest’s hot tip

    Silvana shares her hot tip with our listeners.

    Further readings:

    Michael McLeay and Silvana Tenreyro: Dollar dominance and the transmission of monetary policy

    Sintra Series episode 1/4: Price stability in times of change

    Sintra Series episode 2/4: Adapting to change: Ensuring price stability in a new geopolitical era

    Silvana’s hot tip: I’m still here/Ainda estou aqui

    ECB Instagram
    https://www.instagram.com/europeancentralbank/

    https://www.youtube.com/watch?v=p1YYRg69syw

    MIL OSI Video –

  • MIL-OSI China: China’s global financial ranking on rise

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

    This panoramic aerial photo taken on Jan. 10, 2023 shows a view of Lujiazui area in the China (Shanghai) Pilot Free Trade Zone in east China’s Shanghai. [Photo/Xinhua]

    China ranks fourth in terms of its global financial competitiveness this year, following the United States, United Kingdom and Japan, with China’s rank one place higher than last year, according to a new report released at the Digital Finance Forum during the Global Digital Economy Conference 2025 in Beijing.

    The report, which evaluates 31 countries globally and was released by the Chinese Academy of Social Sciences on Thursday, states the gap between the scores of China and the US has narrowed for four consecutive years.

    Global financial competitiveness is defined as the ability of an economy’s financial system to allocate financial resources and manage risks more effectively on a global scale compared to other economies, thereby promoting economic growth and social development, according to the CASS.

    “For segmented indicators, China’s financial technology competitiveness has ranked third for two straight years, and this year’s score is significantly higher than last year, driven by notable development potential of China’s fintech industry,” said Liu Dongmin, a senior research fellow at the Institute of World Economics and Politics of the CASS.

    Meanwhile, the score of China’s fintech industry development potential index increased from 35.12 last year to 57.25 this year, and this ranking has risen from 12th last year to fourth place globally this year. Among the sub indicators, the AI talent index in China has risen from eighth place last year to fourth place this year, the report said.

    Major economies globally are actively promoting the growth of the digital economy, and China’s digital finance market is highly dynamic and ranks top in the world in terms of its market size, said Li Dongrong, former deputy governor of the People’s Bank of China.

    Last year, the market size of global digital finance exceeded $4.5 trillion, and China’s digital finance market size reached $3.2 trillion, becoming an important engine driving global growth, according to industry research company ChinaIRN.

    “China’s development of digital finance technology, especially mobile payment technology, is globally leading. Leveraging on the growth of digital technology, China’s financial services have effectively covered areas that were previously difficult to reach and the country has made effective breakthroughs in inclusive finance,” Li said at the forum.

    Chen Wenhui, former vice-chairman of the former China Banking and Insurance Regulatory Commission, said China’s application of artificial intelligence technology in the financial industry is accelerating. The digital wave has brought and will bring comprehensive transformation to the economy and society. AI is on a track with high certainty, and the financial sector should pay close attention to it.

    MIL OSI China News –

  • MIL-Evening Report: Astronomers have spied an interstellar object zooming through the Solar System

    Source: The Conversation (Au and NZ) – By Kirsten Banks, Lecturer, School of Science, Computing and Engineering Technologies, Swinburne University of Technology

    K Ly / Deep Random Survey

    This week, astronomers spotted the third known interstellar visitor to our Solar System.

    First detected by the Asteroid Terrestrial-impact Last Alert System (ATLAS) on July 1, the cosmic interloper was given the temporary name A11pl3Z. Experts at NASA’s Center for Near Earth Object Studies and the International Astronomical Union (IAU) have confirmed the find, and the object now has an official designation: I3/ATLAS.

    The orbital path of I3/ATLAS through the Solar System.
    NASA/JPL-Caltech, CC BY-NC

    There are a few strong clues that suggest 3I/ATLAS came from outside the Solar System.

    First, it’s moving really fast. Current observations show it speeding through space at around 245,000km per hour. That’s more than enough to escape the Sun’s gravity.

    An object near Earth’s orbit would only need to be travelling at just over 150,000km/h to break free from the Solar System.

    Second, 3I/ATLAS has a wildly eccentric orbit around the Sun. Eccentricity measures how “stretched” an orbit is: 0 eccentricity is a perfect circle, and anything up to 1 is an increasingly strung-out ellipse. Above 1 is an orbit that is not bound to the Sun.

    3I/ATLAS has an estimated eccentricity of 6.3, by far the highest ever recorded for any object in the Solar System.

    Has anything like this happened before?

    An artist’s impression of the first confirmed interstellar object, 1I/‘Oumuamua.
    ESO/M. Kornmesser, CC BY

    The first interstellar object spotted in our Solar System was the cigar-shaped ‘Oumuamua, discovered in 2017 by the Pan-STARRS1 telescope in Hawaii. Scientists tracked it for 80 days before eventually confirming it came from interstellar space.

    The interstellar comet I2/Borisov, imaged by the Hubble Space Telescope.
    NASA, ESA, and D. Jewitt (UCLA), CC BY-NC

    The second interstellar visitor, comet 2I/Borisov, was discovered two years later by amateur astronomer Gennadiy Borisov. This time it only took astronomers a few weeks to confirm it came from outside the Solar System.

    This time, the interstellar origin of I3/ATLAS has been confirmed in a matter of days.

    How did it get here?

    We have only ever seen three interstellar visitors (including I3/ATLAS), so it’s hard to know exactly how they made their way here.

    However, recent research published in The Planetary Science Journal suggests these objects might be more common than we once thought. In particular, they may come from relatively nearby star systems such as Alpha Centauri (our nearest interstellar neighbour, a mere 4.4 light years away).

    Alpha Centauri A and Alpha Centauri B, from the triple star system Alpha Centauri.
    ESA/Hubble & NASA, CC BY

    Alpha Centauri is slowly moving closer to us, with its closest approach expected in about 28,000 years. If it flings out material in the same way our Solar System does, scientists estimate around a million objects from Alpha Centauri larger than 100 metres in diameter could already be in the outer reaches of our Solar System. That number could increase tenfold as Alpha Centauri gets closer.

    Most of this material would have been ejected at relatively low speeds, less than 2km/s, making it more likely to drift into our cosmic neighbourhood over time and not dramatically zoom in and out of the Solar System like I3/ATLAS appears to be doing. While the chance of one of these objects coming close to the Sun is extremely small, the study suggests a few tiny meteors from Alpha Centauri, likely no bigger than grains of sand, may already hit Earth’s atmosphere every year.

    Why is this interesting?

    Discovering new interstellar visitors like 3I/ATLAS is thrilling, not just because they’re rare, but because each one offers a unique glimpse into the wider galaxy. Every confirmed interstellar object expands our catalogue and helps scientists better understand the nature of these visitors, how they travel through space, and where they might have come from.

    A swarm of new asteroids discovered by the NSF–DOE Vera C. Rubin Observatory.

    Thanks to powerful new observatories such as the NSF–DOE Vera C. Rubin Observatory, our ability to detect these elusive objects is rapidly improving. In fact, during its first 10 hours of test imaging, Rubin revealed 2,104 previously unknown asteroids.

    This is an astonishing preview of what’s to come. With its wide field of view and constant sky coverage, Rubin is expected to revolutionise our search for interstellar objects, potentially turning rare discoveries into routine ones.

    What now?

    There’s still plenty left to uncover about 3I/ATLAS. Right now, it’s officially classified as a comet by the IAU Minor Planet Center.

    But some scientists argue it might actually be an asteroid, roughly 20km across, based on the lack of typical comet-like features such as a glowing coma or a tail. More observations will be needed to confirm its nature.

    Currently, 3I/ATLAS is inbound, just inside Jupiter’s orbit. It’s expected to reach its closest point to the Sun, slightly closer than the planet Mars, on October 29. After that, it will swing back out towards deep space, making its closest approach to Earth in December. (It will pose no threat to our planet.)

    Whether it’s a comet or an asteroid, 3I/ATLAS is a messenger from another star system. For now, these sightings are rare – though as next-generation observatories such as Rubin swing into operation, we may discover interstellar companions all around.

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

    – ref. Astronomers have spied an interstellar object zooming through the Solar System – https://theconversation.com/astronomers-have-spied-an-interstellar-object-zooming-through-the-solar-system-260422

    MIL OSI Analysis – EveningReport.nz –