Category: Business

  • MIL-OSI Africa: Network International and Blu Penguin collaborate to enable mobile money transactions in Ghana

    Source: APO

    Network International (Network) (https://www.Network.ae/), a leading enabler of digital commerce across the Middle East and Africa, has announced a collaboration with Blu Penguin, a Ghana-based fintech and mobile money aggregator, to provide mobile money transactions via Network’s N-Genius™ payment terminals. This collaboration marks a significant milestone in expanding financial inclusion and driving payment innovation across Ghana and the broader West African region.

    Through this collaboration, Network’s clients in Ghana can now process mobile money payments from all providers using their current N-Genius point-of-sale terminals. This development strengthens Network’s role as a third-party payment processor (TPP), broadening its service offerings and demonstrating its commitment to adapting to evolving market needs.

    Chinwe Uzoho, Regional Managing Director, Western Africa – Processing at Network International, stated, “This partnership with Blu Penguin reinforces our commitment to advancing digital commerce and financial inclusion. By integrating mobile money transaction capabilities into our N-Genius terminals, we are providing a seamless payment experience that caters to the needs of both banked and unbanked individuals, helping businesses and financial institutions offer greater transaction flexibility.”

    Sebastian Yalley, Managing Director, Ghana – Processing at Network International, added: “This collaboration represents a significant advancement for Ghana’s payments landscape. It enhances our service offerings for banks by combining the strong mobile money processing capabilities of Blu Penguin with our industry-leading card infrastructure to provide a unified app for merchants to deliver secure, accessible, and convenient payment capabilities.”

    Through this collaboration, Blu Penguin will integrate its technology with Network International’s acquiring infrastructure, ensuring a secure and efficient backend for processing mobile money transactions across major telecom networks. With operations in Ghana, Côte d’Ivoire, and DRC Congo, Blu Penguin’s mobile-first strategy streamlines transactions, making digital payments more accessible to millions of consumers across the region.

    Tenu Awoonor, Founder of Blu Penguin, commented, “This collaboration goes beyond technology integration; it is a strategic effort to improve payment accessibility and convenience for merchants in Africa. By partnering with Network International, we are equipping banks and merchants with the ability to offer multiple payment options in a single app, making transactions more seamless. We get to leverage our respective strengths in a collaborative effort with financial institutions to drive faster adoption and usage of digital payments to support greater financial inclusion in Africa.”

    The initial phase of the partnership has commenced, and plans are to enable this feature across all financial institutions using Network International’s N-Genius™ terminals in Ghana and ultimately Sub-Sahara Africa.

    Distributed by APO Group on behalf of Network International.

    About Network International:
    Network International is the Middle East and Africa’s largest and leading digital payments company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We operate in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. We have 2,500+ employees based in our markets serving over 250 financial institutions and 196,000+ merchants. 

    About The Blu Penguin:
    The Blu Penguin Company Limited is a licensed pan-African fintech firm committed to providing digital payment solutions that cater to the diverse evolving needs of small, medium and large sized enterprises. With a vision to drive financial inclusion in Africa, we provide a comprehensive suite of services designed to enhance and simplify both in-store and online payment collection for merchants. We serve banks, telecom companies, merchants and governments to offer payment services to millions of customers every day.

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    MIL OSI Africa

  • MIL-OSI Africa: Government commits over R1 trillion to infrastructure investment

    Source: Government of South Africa

    Government is following through on its commitment to invest more than R1 trillion in infrastructure over the next three years to renew the country’s roads, port, rail, energy and water systems.

    This is according to President Cyril Ramaphosa who presented The Presidency Budget Vote for the 2025/2026 financial year in the National Assembly in Parliament on Wednesday. 

    The Budget Vote focused on the 7th administration’s three strategic priorities, including promoting inclusive growth, job creation, tackling poverty and the high cost of living, and building a capable, ethical, and developmental state. 

    “South Africans benefit when the economy grows, when jobs are created, when established industries expand and new industries emerge,” the President said. 

    The President emphasised that government is hard at work to boost infrastructure investment to ensure that infrastructure development becomes the “true flywheel of economic growth.” 

    Through the Infrastructure Fund, he said government is investing in the roads that link communities to economic centres and the water projects that supply expanding cities and towns. 

    “We have amended the regulations for Public Private Partnerships to make it easier for the private sector to invest in infrastructure ranging from renewable energy generation to housing. 

    “This infrastructure has a direct impact on people’s lives, providing the services they need, reducing the cost of living, improving the business environment and encouraging economic activity,” the President said. 

    President Ramaphosa noted that the country continues to face high levels of unemployment and economic growth that is too low to create jobs and reduce poverty. In addition, the country faces the corrosive effects of corruption and pervasive crime, to which the poorest are most vulnerable.

    “It is with these challenges in mind that we formed a Government of National Unity (GNU) to place our country on a path of growth and transformation, a path of peace and prosperity. 

    “As we established the GNU, we understood that we were embarking on a new era in the life of our democracy. We understood that there would be complex dynamics and novel challenges that we would need to navigate,” he said.

    The President highlighted that the GNU adopted the Medium-Term Development Plan (MTDP), which outlines clear actions that will be undertaken over the next five years in pursuit of three strategic priorities. 

    “Across all ministries, all departments and all national entities, there is a commitment to implement the actions on which we have agreed and to move with urgency and purpose to address the needs of South Africans. 

    “Most importantly, there is a shared understanding that we need to rise above our differences and to work together to make progress on our most important challenges,” the President said. 

    The President explained that the approach of the Government of National Unity is to enhance national cohesion and nation building and to build partnerships across society to advance the common interests of all South Africans. 

    He said the National Dialogue is being convened in response to calls from individuals and formations from across society.

    The initiative has received wide support and has been endorsed by the GNU as a significant national process to develop a social compact that will enable the country to meet the aspirations of the National Development Plan.

    “We are all called upon to use this National Dialogue as an instrument of development, transformation, progress, national cohesion and nation building. The National Dialogue does not displace the democratic processes mandated by our Constitution, nor the electoral mandates that parties carry into Parliament and the Executive,” he said. 

    As the National dialogue process continues, the President said the GNU will continue to take action to address the immediate concerns that all South Africans share – to grow the economy, to create jobs, to tackle corruption and crime, and to fix local government.

    “Everything that this government does – from trade negotiations to economic reforms, from the professionalisation of the public service to support for farmers and small businesses – is directed towards meeting the needs of South Africa’s people and securing their future. 

    “The role of the Presidency is to coordinate the work of government towards this end, and to make sure that our commitments are translated into action. Our most important priority is to grow the economy and create jobs,” President Ramaphosa said. 

    The President added that efforts to improve visa administration, digital payments, tourism, and industrial diversification would unlock growth and investment. 

    “We are pursuing the Critical Minerals and Metals Strategy recently approved by Cabinet to ensure that the country’s mineral wealth creates jobs and produces value here in South Africa,” the President said. 

    The development of new sectors was also a key focus. 

    “Our National Policy on the Commercialisation of Hemp and Cannabis aims to improve the livelihoods of people living in rural areas, targeting 10 percent annual growth in this emerging industry,” he said.

    Highlighting tourism’s recovery, he noted that over 9 million international tourists visited South Africa last year, spending more than R90 billion.

    “This is thanks in large part to reforms in our visa system, targeted tourism promotion in key markets and support to local companies,” he said. 

    President Ramaphosa reaffirmed that the Presidency continues to lead implementation of economic reforms through Operation Vulindlela. 

    In the energy sector, working together with all stakeholders, the President noted outstanding progress in reducing the severity and frequency of load shedding. 

    “There was a time when daily load shedding was the norm. Now, it is very much the exception,” he said.

    He said government is putting in place the foundations for a competitive electricity market to unlock massive new investment in energy generation. 

    “This will result in lower electricity costs for all South Africans and more renewable energy to power our economy.”

    In addition, the President said South Africa has received international pledges worth R230 billion towards its just energy transition, with investments in transmission, renewables and localised development. – SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI Africa: Government scales up youth-focused initiatives 

    Source: Government of South Africa

    As government pursues faster and more inclusive economic growth, the fight against youth unemployment remains a priority, with large-scale programmes underway to create opportunities for young people to earn an income, develop skills and gain work experience.

    Delivering the Presidency Budget Vote for the 2025/2026 financial year, President Cyril Ramaphosa said the greatest challenge that faces South Africa today is youth unemployment. 

    “Approximately 3.8 million out of 10.3 million young people aged 15 to 24 years are not in employment, education or training. These are young people with energy, initiative and untapped potential,” President Ramaphosa said.

    In his address on Wednesday, the President said government has launched large-scale programmes to provide young people with income opportunities, skills development and work experience.

    “Through innovative and targeted interventions, the Presidential Employment Stimulus has continued to demonstrate that when a society invests in its people, the dividends are measured in hope restored and futures rewritten,” he said. 

    He cited the Basic Education Employment Initiative, which entered a new phase in June this year, placing over 200 000 young people as school assistants in more than 2 0000 schools. 

    To date, this initiative has created over one million posts for young people to serve as assistants in schools, supporting teachers in classrooms, school administration and school maintenance.

    “The programme has been designed to strengthen the learning environment and learning outcomes in schools. In the process, participants gain work experience and skills vital to finding employment and starting their own businesses,” the President said.

    He added that the SAYouth.mobi platform was launched in 2020 to tackle the barriers faced by young people such as experience and the lack of transport or lack of data money.

    “There are now over 4.7 million young people registered on the SAYouth network. Young people have been supported to access over 1.67 million earning opportunities.

    “A significant achievement of SA Youth is that the vast majority of earning opportunities have been accessed by the most excluded young people. Seventy percent of opportunities have been accessed by young black African women,” President Ramaphosa said.

    The President noted that around 65% of the platform’s users live in grant-receiving households, demonstrating that “we are reaching some of the people who have the greatest need.”

    Another impactful initiative mentioned was the Youth Employment Service (YES), which he said has become the largest corporate-funded youth jobs programme globally. 

    The programme has to date provided over 190 000 young people with year-long work experience opportunities.

    “Through all of these programmes coordinated by the Presidency, we are changing the way that government works and scaling innovative solutions to our unemployment challenge,” the President said. 

    Education 

    Turning to education, President Ramaphosa underscored its role in fighting poverty, with a focus on early childhood development, foundational learning, and access to well-run schools.

    “We continue our efforts to ensure that learners have a safe and conducive environment in which to learn. To date, we have completed 97 percent of the sanitation projects under the SAFE initiative aimed at getting rid of pit latrines in our schools.”

    He also confirmed the implementation of the Basic Education Laws Amendment (BELA) Act, expansion of vocational training, and broader access to higher education through the National Student Financial Aid Scheme (NSFAS).

    Having come into effect in December last year, the Act amends sections of the South African Schools Act of 1996 (SASA) and the Employment of Educators Act, 1998 (EEA) to account for developments in the education landscape since the enactment of the original legislation.

    Through the NSFAS, government is expanding access for students from poor and working class families, and with the support of the National Skills Fund, assistance is being expanded to the ‘missing middle’.

    “This year, NSFAS is supporting over 800 000 university and TVET [technical and vocational education and training] college students. This provides opportunities to young people today that will, in time, transform our economy and society,” he said. 

    NHI

    On healthcare and the National Health Insurance (NHI), the President said government is addressing the poor state of health facilities and is hiring more professionals, while also permanently employing community health workers.

    “To address the severe challenges in the health system and in preparation for the implementation of the NHI, we are directing resources towards the hiring of more doctors, nurses and health professionals, the permanent employment of community health workers, and the purchase of new equipment and supplies.

    “We are determined to meet our HIV testing and treatment targets, despite the withdrawal of US funding,” he added, noting that Deputy President Paul Mashatile continues to lead the HIV/AIDS response through the South African National AIDS Council.

    Last week, Health Minister, Dr Aaron Motsoaledi, said the National Treasury has allocated R753 million to the Department of Health — under Section 16 of the Public Finance Management Act (PFMA) — to help bridge the shortfall caused by the United States’ decision to cut HIV and tuberculosis (TB) grants.

    READ | Treasury allocates emergency funding of R750m towards HIV and TB after US funding cuts

    The United States government’s withdrawal of funding to key health initiatives, including the President’s Emergency Plan for AIDS Relief P(EPFAR), which was established by former President George W Bush in 2003, led to a loss of R7.9 billion spent on HIV/Aids programmes annually.
     

    Governance 

    On governance, the President said building a capable and corruption-resistant state remains a priority. 

    “For us to effectively tackle any of these challenges, we need to build a capable state with institutions that are resistant to corruption or interference. 

    “The recent adoption of the Public Service Commission Bill by the National Assembly marks a crucial milestone, enhancing the independence and effectiveness of the Public Service Commission in promoting ethical governance,” the President said. 

    President Ramaphosa said the bill will allow the Commission to function as an impartial constitutional body and ensure that the executive is compelled to act on the Commission’s recommendations, thereby reinforcing accountability across the public sector. 

    Digital Transformation Roadmap

    He added that the Digital Transformation Roadmap launched in April 2025, is set to make government work more efficiently while also bringing it closer to the people.

    READ | Digital Transformation Roadmap to make it easier to access government services

    “The roadmap focuses on building digital public infrastructure including a digital identity for every South African citizen. 

    “It includes a digital payments system to enable instant, low-cost payments, and interoperable data systems to ensure that citizens only have to provide their information to government once,” said President Ramaphosa. – SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI Banking: GhostContainer backdoor: malware compromising Exchange servers of high-value organizations in Asia

    Source: Securelist – Kaspersky

    Headline: GhostContainer backdoor: malware compromising Exchange servers of high-value organizations in Asia

    In a recent incident response (IR) case, we discovered highly customized malware targeting Exchange infrastructure within government environments. Analysis of detection logs and clues within the sample suggests that the Exchange server was likely compromised via a known N-day vulnerability. Our in-depth analysis of the malware revealed a sophisticated, multi-functional backdoor that can be dynamically extended with arbitrary functionality through the download of additional modules. Notably, the attackers leveraged several open-source projects to build this backdoor. Once loaded, the backdoor grants the attackers full control over the Exchange server, allowing them to execute a range of malicious activities. To evade detection by security products, the malware employs various evasion techniques and disguises itself as a common server component to blend in with normal operations. Furthermore, it can function as a proxy or tunnel, potentially exposing the internal network to external threats or facilitating the exfiltration of sensitive data from internal devices. Our telemetry data indicates that this malware may be part of an APT campaign targeting high-value organizations, including high-tech companies, in Asia. Our team is currently investigating the scope and extent of these attack activities to better understand the threat landscape.

    GhostContainer: the backdoor

    MD5 01d98380dfb9211251c75c87ddb3c79c
    SHA1 2bb0a91c93034f671696da64a2cf6191a60a79c5
    SHA256 87a3aefb5cdf714882eb02051916371fbf04af2eb7a5ddeae4b6b441b2168e36
    Link time 1970-01-01 12:00 AM UTC
    File type PE32 executable (EXE) (CLI) Intel 80386, for MS Windows Mono/.Net assemblys
    File size 32.8 KB
    File name App_Web_Container_1.dll

    The name of this file is App_Web_Container_1.dll. As the file name suggests, it serves as a “container”. It contains three key classes (Stub, App_Web_843e75cf5b63, and App_Web_8c9b251fb5b3) and one utility class (StrUtils). Once the file is loaded by the Exchange service, the Stub class is executed first. It acts as a C2 command parser, capable of executing shellcode, downloading files, running commands, and loading additional .NET byte code. One of the most notable features is that it creates an instance of the App_Web_843e75cf5b63, which serves as a loader for the web proxy class (App_Web_8c9b251fb5b3) via a virtual page injector.

    Stub: C2 parser and dispatcher

    At the beginning of execution, The Stub class attempts to bypass AMSI (Antimalware Scan Interface) and Windows Event Log. This is accomplished by overwriting specific addresses in amsi.dll and ntdll.dll, which allows evading AMSI scanning and Windows event logging.

    Next, it retrieves the machine key from the ASP.NET configuration, specifically the validation key, and converts it to a byte array. The code used to generate the validation key was simply copied from the open-source project machinekeyfinder-aspx. The validation key is then hashed using SHA-256 to ensure it is 32 bytes long, and the resulting byte array is returned for use in AES encryption and decryption (to protect the data transferred between the attacker and the Exchange server).

    The malware’s primary functionality is to receive requests from the attacker and parse them as follows:

    • Receive the value of x-owa-urlpostdata from the attacker’s request data and then decode it as Base64.
    • Utilize the AES key generated above to perform AES decryption on decoded data. The first 16 bytes of the decoded data are used as the initialization vector (IV).
    • Decompress the decrypted data and dispatch operations based on the command ID (first byte).

    To execute commands, Stub checks if the current user is a system account. If it is not, it attempts to impersonate a user by utilizing a token stored in the application domain’s data storage. This allows the application to perform actions under a different identity.

    C2 commands and functionality:

    Command ID Description
    0 Get the architecture type (e.g., x86 or x64) |
    1 Run received data as a shell code
    2 Execute a command line
    3 Load .NET byte code in a child thread
    4 Send a GET request
    5 Download and save a file
    6 Save provided raw data to a file
    7 Delete a file
    8 Read file contents
    9 Execute a .NET program with output
    10 Invoke a virtual page injector (create an instance of class App_Web_843e75cf5b63)
    11 Iterate and delete files whose names contain App_Global in the defined folder and its subdirectories
    14 Perform HTTP POST requests to multiple URLs concurrently

    Each time the command is executed, an XML-formatted response is generated, containing the execution result or return value. The value element in the XML starts with a hardcoded string /wEPDwUKLTcyODc4, and the same string is used in another open-source project, ExchangeCmdPy.py, to exploit the Exchange vulnerability CVE-2020-0688.

    By further comparing the code of GhostContainer with the ExchangeCmdPy.py open-source project, we observe a high degree of similarity in their entry function structures and keyword strings. This leads us to speculate that the code of the Stub class was developed based on the open-source project. We suspect that the vulnerability exploited in the Exchange attack may be related to CVE-2020-0688.

    App_Web_843e75cf5b63: virtual page injector

    This class is based on yet another open-source project, PageLoad_ghostfile.aspx, and it is designed to create ghost pages using classes like VirtualProvider. It contains a few classes which inherit from multiple system classes responsible for creating virtual ASPX pages and override some of their methods. It will create a virtual page using the two provided arguments: fakePageName and fakePath. The purpose of this approach is to run a .NET reflection loader (the fake page – see Appendix II) and bypass file checks. The loader is hardcoded into the program as a Base64-encoded .aspx source code.

    This fake page is used to locate the web proxy class App_Web_8c9b251fb5b3 in the current domain and execute its static method AppWebInit. As soon as it is created, the attacker starts sending requests to it, which will then be received and parsed by App_Web_8c9b251fb5b3.

    App_Web_8c9b251fb5b3: web proxy

    App_Web_8c9b251fb5b3 is one core component in the GhostContainer sample, typically loaded indirectly through the fake page (App_Web_843e75cf5b63). This class includes web proxy, socket forwarding, and covert communication capabilities, serving as a typical example of a combined web proxy and tunneling module.

    When an instance of this class is created, the static value utcDate is initialized with the current date and time. To identify the current version of the class, the fake page selects and invokes the one with the maximum utcDate value.

    There are only two functions in this class. The AppWebInit() function serves as the actual entry point of the module, and it is dynamically invoked through reflection in the fake .aspx page. In the function StrTr, it implements a custom string translation mechanism before decoding Base64-encoded strings.

    Again, we linked this algorithm to an open-source project, this time Neo-reGeorg. The function name StrTr and its code are identical. By comparing the code, it becomes clear that this class is a highly customized version of Neo-reGeorg.

    The primary behavior of the module is focused on parsing requests the attacker sends to the fake web page. When receiving a request, it first inspects the header. Its further behavior may vary depending on the identified header:

    • The Qprtfva header: identifies proxy forwarding requests.
    • The Dzvvlnwkccf header: identifies socket communication requests.
    • In other cases, the malware will respond with the string "".

    If the header is Qprtfva, the malware establishes a web proxy by completing the following steps:

    • Decode a Base64-encoded string to obtain the target URL.
    • Clone the original request content (headers other than Qprtfva and body).
    • Forward the request to the decoded target address.
    • Return the target response content as the local response.

    If the header is Dzvvlnwkccf, the malware establishes or manages a long-lived TCP tunnel connection between the internet and intranet. In order to identify and maintain different socket objects simultaneously, it defines a name for each socket object and then saves that name in pairs with the socket object in global storage. The name of the socket is contained in the first 22 bytes of the value of the header Dzvvlnwkccf. The exact activity is contained in the command section of the request, which starts from byte 23. The module accepts the following socket communication commands.

    Command Description
    1iGBIM1C5PmawX_1McmR7StamYn23jpfQoENPlm19cH42kceYkm8ch4x2 Extracts the IP and port from an encrypted header, attempts to connect, and saves the socket.
    vfhafFQZ4moDAvJjEjplaeySyMA Closes the socket and removes it from the global storage.
    M4LubGO0xaktF_YgZpsiH3v1cJ4dloAPOZKdG8AK4UxM Converts HTTP request body content to socket data and sends it to the internal host.
    NYIJVBf2PXRn7_BWxFyuheu1O0TuE9B0FtF0O Receives data from the internal network, encodes it, and sends it back to the attacker as an HTTP response body.

    StrUtils: string and XML format processing class

    StrUtils looks like a utility class for splitting and trimming strings, as well as splitting, extracting, and unescaping XML elements. However, only a few functions are currently referenced by the other three classes, namely the functions responsible for:

    • Splitting the received data into multiple parts
    • Trimming the closing character of the file path

    We found no references to the XML unescaping functions in any class.

    Infrastructure

    The GhostContainer backdoor does not establish a connection to any C2 infrastructure. Instead, the attacker connects to the compromised server from the outside, and their control commands are hidden within normal Exchange web requests. As a result, we have not yet identified any relevant IP addresses or domains.

    Victims

    So far, we have identified two targets of this campaign: a key government agency and a high-tech company. Both organizations are located in the Asian region.

    Attribution

    The sample used in this APT attack does not share structural similarities with any known malware. It incorporates code from several open-source projects, which are publicly accessible and could be utilized by hackers or APT groups worldwide. As a result, attribution based on code similarity is not reliable. Based on our telemetry, the attack could not be correlated with other attack campaigns because the attackers did not expose any infrastructure.

    Conclusions

    Based on all the analysis conducted, it is evident that attackers are highly skilled in exploiting Exchange systems and leveraging various open-source projects related to infiltrating IIS and Exchange systems. They possess an in-depth understanding of how Exchange web services operate and show remarkable expertise in assembling and extending publicly available code to create and enhance sophisticated espionage tools. We believe this is a mature and highly professional team. We continue tracking their activity.

    Indicators of compromise

    01d98380dfb9211251c75c87ddb3c79c       App_Web_Container_1.dll

    MIL OSI Global Banks

  • MIL-OSI Asia-Pac: Govt to resume land in Kowloon City

    Source: Hong Kong Information Services

    In accordance with the Lands Resumption Ordinance, the Lands Department today posted land resumption notices to resume land at Nga Tsin Wai Road/Carpenter Road in Kowloon City for implementing an urban renewal project.

     

    A total of 1,009 property interests will be resumed. The affected interests will revert to the Government on October 18.

     

    This urban renewal project, included in the Urban Renewal Authority’s Business Plan for 2022-23, is expected to help improve the overall living environment in the area.

     

    The 37,061 sq m project site will be redeveloped for residential use with retail/commercial facilities, at-grade landscaped diversified space, underground ancillary parking and loading/unloading facilities.

     

    The project will also provide a public vehicle park, as well as government, institution or community facilities.

     

    Apart from statutory compensation, eligible owners of domestic properties will also be offered an ex-gratia home purchase allowance or a supplementary allowance as appropriate. Eligible domestic tenants will be offered rehousing or an ex-gratia allowance.

     

    Meanwhile, eligible commercial property occupiers, including owners and tenants, may opt for an ex-gratia allowance in lieu of the right to claim statutory compensation for business and related losses.

     

    If statutory claims made by the affected owners and tenants of both domestic and commercial properties cannot be settled by agreement, the owners and tenants may apply to the Lands Tribunal for adjudication. Professional fees reasonably incurred by the claimants in making such claims may be reimbursed by the Government.

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: Monthly interest on a deposit: save or spend?

    Translation. Region: Russian Federal

    Source: Solid Bank – Solid Bank –

    An important disclaimer is at the bottom of this article.

    We are sure that investors who place funds in deposits with monthly interest payments have at least once asked themselves: is it better to save interest or live on interest and spend it on their personal needs? Today we will figure this out.

    There is no right answer to this question. Here everyone chooses their own option – what is better, what is more profitable, what fits into individual plans. The most important thing is that the answer to this question depends on your ultimate financial goals, plans and life habits.

    The option to save interest, as well as the option to live on interest, have their own characteristics (advantages and disadvantages). It is worth evaluating what will suit your strategy better.

    We accumulate interest:

    • This option is definitely suitable if your goal is to increase your capital. Please note that the deposit terms should include not only the option of monthly interest payments, but also capitalization. With its help, the interest accrued monthly will be automatically added to the deposit amount. Thus, the income increases compared to deposits without capitalization. This is the effect of compound interest.

    • We protect your funds from inflation and fraud. If you are worried that your savings are depreciating, that there may be a sharp decline in the economy, etc., you should consider a deposit as a savings instrument. Due to the interest, you protect your money from depreciation, and also keep it in a safe and secure place, while the investments will be insured by the Deposit Insurance Agency within 1.4 million rubles. In the event of an unforeseen situation, you will receive compensation.

    • Develop financial discipline. Agree that the ability to save money is not inherent to everyone. For some it comes easy, for others it does not work at all, and all attempts do not end with a successful result. Opening a deposit will help develop this skill. You will not be tempted and able to “get into” savings, since, most often, the terms of deposits do not provide for the withdrawal of funds before the deposit term without sanctions for the depositor. Usually, funds can be withdrawn only if the interest paid earlier is lost. This fact will keep you from temptations. For this purpose, a deposit in Solid Bank – “Solid” is perfect. Where you can now place money at an attractive interest rate, which can become higher with capitalization. More details here.

    We spend interest:

    • A deposit is an additional source of income. For example, you are a pensioner, have some savings, and you do not need to use them for large purchases. By placing money in the Bank at interest, you can receive a monthly increase to your pension. This will allow you to improve your standard of living now. Our “Pension” deposit is ideal for this. You can study the conditions at the link. The option – spending interest strategically is suitable for anyone who wants to use the deposit as a passive source of income for current needs.

    The most important thing for you is to know your goals and, based on this, choose financial instruments. We are always ready to consult each of you and help you choose the right options. Contact us at our offices or on the hotline: 8 800 775 56 06.

    JSC Solid Bank. General license of the Central Bank of the Russian Federation No. 1329.

    VBV. SOLIDBANK.ru

    8 800 775 56 06 (free call within Russia)

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    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 China: China sees vibrant innovation in green, low-carbon technologies

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

    BEIJING, July 17 — China has seen increasingly vibrant innovation in green and low-carbon technologies during the 14th Five-Year Plan period (2021-2025), with 53,000 invention patents granted in this sector in 2024 alone, said a senior intellectual property (IP) official on Thursday.

    The 2024 figure, which doubled that of 2020, reflects an average annual growth rate of 19.2 percent, said Liang Xinxin, an official with the China National Intellectual Property Administration (CNIPA), at a press conference on IP achievements.

    China’s innovation in green and low-carbon technologies has emerged as a major driving force in advancing global development in the field, Liang said.

    The clean energy and energy storage sectors showed robust growth, with invention patent authorizations rising by 34.9 percent and 32.8 percent year on year, respectively, the highest increases among all green technology categories, Liang noted.

    Leading domestic enterprises have played a pivotal role in advancing green technology, with four domestic companies ranking among the world’s top 10 for green and low-carbon invention patent grants in 2024. These include three state-owned enterprises — State Grid, China Huaneng Group and China Southern Power Grid — as well as the private firm Contemporary Amperex Technology Co., Limited, according to Liang.

    China also recorded 6,356 Patent Cooperation Treaty (PCT) applications in green and low-carbon technologies in 2024, up 130 percent from 2020, maintaining its top global ranking for four consecutive years.

    Liang noted that Chinese enterprises have cumulatively contributed 12,000 green technology solutions to WIPO GREEN — a platform that connects innovators and providers of sustainable technologies to accelerate green innovation and climate action — making active contributions to global green development.

    The CNIPA will continue to conduct patent analysis and statistical monitoring of green and low-carbon technologies, strengthen IP protection in environmental and related fields, improve assessment standards, and facilitate the efficient authorization and protection of green and low-carbon technologies, Liang said.

    MIL OSI China News

  • MIL-OSI China: China calls for strengthening SCO economic, trade cooperation

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

    BEIJING, July 17 — Gao Yunlong, chairman of the All-China Federation of Industry and Commerce, called for bolstering economic and trade cooperation within the Shanghai Cooperation Organization (SCO) when speaking at the opening of the SCO business forum in Beijing on Thursday.

    Economic and trade cooperation is a powerful engine driving the SCO’s dynamic development, said Gao, also vice chairman of the National Committee of the Chinese People’s Political Consultative Conference.

    Gao said China is ready to work with other parties to further align regional development strategies, enhance the quality and level of SCO economic and trade cooperation, and ensure the stability and efficiency of industrial and supply chains.

    He stressed that these efforts will promote the building of an SCO community with a shared future and contribute to lasting global peace and shared prosperity.

    Hosted by the China Council for the Promotion of International Trade, the forum attracted nearly 400 participants from government institutions and the business community both at home and abroad.

    MIL OSI China News

  • MIL-OSI China: Tesla showcases Optimus robot at China Intl Supply Chain Expo

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

    Visitors watch a Tesla Bot presentation video at Tesla’s exhibition stand during the third China International Supply Chain Expo in Beijing, July 16, 2025. [Photo by Xu Xiaoxuan/China.org.cn]

    Tesla is drawing attention this week at the Smart Vehicle Chain zone of the third China International Supply Chain Expo (CISCE) with its humanoid robot Optimus and Model Y vehicle, demonstrating the company’s push to commercialize robotics technology developed for its electric vehicles.

    First unveiled in October 2022, Optimus is now in its second generation with enhanced full-body control and better balance. The robot’s walking speed has increased by 30% from its previous version, according to Tesla. Its 10 fingers now have tactile perception, allowing it to handle delicate tasks such as holding fragile eggs or lifting heavy boxes. Optimus can mimic human actions, including sorting batteries using a vision-based neural network.

    Tesla sales director Yang Jingjing said Optimus is already performing practical tasks in Tesla factories, including moving batteries and other heavy items. The robot can even lift a piano weighing half a ton, she said. Tesla plans to market the robots for domestic chores in the future. Priced at under $20,000, Optimus is expected to enter mass production in 2026.

    Tesla vehicles are equipped with A14 intelligent assisted driving hardware, featuring Tesla-developed chips that function like the human brain. These chips process environmental data from cameras and use advanced algorithms to analyze driving conditions and guide vehicle behavior. The same chip is integrated into Optimus, enabling it to learn continuously by updating its software in real time, improving recognition accuracy and operational efficiency.

    This iterative learning system supports more advanced applications, including enhanced autonomous driving and expanding the robot’s range of capabilities. Tesla says it aims to harness AI to boost productivity and free people to focus on higher-value tasks.

    When asked why Tesla chose to develop a robot using the same architecture as its vehicles, Yang explained that as early as July 2016, the company changed its website from teslamotors.com to tesla.com, signaling a strategic shift beyond car manufacturing. Tesla sees itself not just as an electric vehicle maker but also as an artificial intelligence and robotics company.

    Tesla’s business now spans a broad range of sectors, with an integrated ecosystem that includes transportation, energy generation and storage, and AI computing, covering solar power, autonomous taxis and a global supercharging network.

    MIL OSI China News

  • MIL-OSI: Valour Enters Swiss Market with HBAR and ICP Staking ETP Listings on SIX Swiss Exchange

    Source: GlobeNewswire (MIL-OSI)

    • Valour Launches First Products on SIX Swiss Exchange: Valour has officially entered the Swiss market with the listing of two staking ETPs—1Valour Hedera (HBAR) and 1Valour Internet Computer (ICP)—on the SIX Swiss Exchange.
    • Access to Native Yield Through Regulated ETPs: Both products offer secure, transparent, and regulated exposure to HBAR and ICP, while integrating native staking rewards directly into their structure.
    • Accelerating Toward 100 ETPs in Europe: With this launch, Valour now offers over 75 ETPs across Europe and continues to expand its footprint in line with its goal of reaching 100 ETPs by the end of 2025.

    TORONTO, July 17, 2025 (GLOBE NEWSWIRE) — DeFi Technologies (the “Company” or “DeFi Technologies”) (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance (“DeFi”), is pleased to announce that its subsidiary, Valour Inc., and Valour Digital Securities Limited (together, “Valour“), a leading issuer of exchange traded products (“ETPs“) has successfully listed two digital asset ETPs on the SIX Swiss Exchange—marking its inaugural product launch in Switzerland.

    The newly listed products are:

    • 1Valour Hedera (HBAR) Physical Staking (ISIN: GB00BRC6JM96)
    • 1Valour Internet Computer (ICP) Physical Staking (ISIN: GB00BS2BDN04)

    These cross-listed ETPs are already trading on other major European exchanges and will now be accessible to Swiss investors through their existing brokerage accounts. With competitive management fees and integrated staking rewards, both products provide secure, transparent, and regulated access to digital assets while enabling investors to benefit from native protocol yields.

    About the Listed Products

    1Valour Hedera (HBAR) Physical Staking
    HBAR is the native token of the Hedera network, a high-throughput, proof-of-stake public ledger designed for enterprise-grade applications. This ETP offers investors exposure to HBAR while capturing staking rewards—distributed directly to the product and reflected in its net asset value—without requiring users to manage wallets or custodianship themselves.

    1Valour Internet Computer (ICP) Physical Staking ICP powers the Internet Computer, a decentralized network that enables secure, scalable smart contract execution and web-speed blockchain functionality. This ETP provides passive exposure to ICP while generating staking yield, enabling investors to participate in the network’s native economics via a traditional financial instrument.

    Executive Commentary

    Johanna Belitz, Head of Nordics and DACH at Valour, commented:
    “Launching on SIX is a major milestone in our mission to democratize access to digital assets. Switzerland is one of the most forward-looking markets for regulated crypto products, and we’re proud to offer investors here access to yield-bearing protocols like HBAR and ICP in a simple and compliant format.”

    Elaine Buehler, Head of Products at Valour, added:
    “Our debut on the SIX Swiss Exchange reflects growing institutional and retail appetite for digital asset products that generate yield. These ETPs not only give investors exposure to two high-quality blockchain ecosystems—they do so through structures designed for security, simplicity, and accessibility.”

    With the addition of these products on SIX, Valour continues to expand its footprint across Europe, now offering over 75 ETPs on exchanges including Spotlight (Sweden), Börse Frankfurt (Germany), Euronext (Paris and Amsterdam), and now SIX (Switzerland). The Company remains on track to reach its goal of 100 ETPs by year-end 2025.

    About DeFi Technologies
    DeFi Technologies Inc. (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B) is a financial technology company bridging the gap between traditional capital markets and decentralized finance (“DeFi”). As the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to over sixty-five of the world’s most innovative digital assets via regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and DeFi Alpha, the company’s internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, DeFi Technologies is building the institutional gateway to the future of finance. Follow DeFi Technologies on LinkedIn and X/Twitter, and for more details, visit https://defi.tech/  

    DeFi Technologies Subsidiaries

    About Valour
    Valour Inc. and Valour Digital Securities Limited (together, “Valour”) issues exchange traded products (“ETPs”) that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies. For more information about Valour, to subscribe, or to receive updates, visit valour.com.

    About Reflexivity Research
    Reflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights. For more information please visit https://www.reflexivityresearch.com/

    About Stillman Digital
    Stillman Digital is a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement, and technology. For more information, please visit https://www.stillmandigital.com

    About Neuronomics AG
    Neuronomics AG is a Swiss asset management firm specializing in AI-powered quantitative trading strategies. By integrating artificial intelligence, computational neuroscience and quantitative finance, Neuronomics delivers cutting-edge solutions that drive superior risk-adjusted performance in financial markets. For more information please visit https://www.neuronomics.com/

    Cautionary note regarding forward-looking information:
    This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the the listing of 1Valour Hedera (HBAR) Physical Staking ETP, 1Valour Internet Computer (ICP) Physical Staking ETP; the development of the Internet Computer protocol, Hedera blockchain; development of additional ETPs and the number of ETPs anticipated by end of 2025; investor confidence in Valour’s ETPs; investor interest and confidence in digital assets; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by the Company and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the acceptance of Valour ETPs by exchanges; growth and development of decentralised finance and cryptocurrency sector; rules and regulations with respect to decentralised finance and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

    THE CBOE CANADA EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

    For further information, please contact:

    Olivier Roussy Newton
    Chief Executive Officer
    ir@defi.tech
    (323) 537-7681

    The MIL Network

  • MIL-OSI: Virtune launches Virtune Bitcoin Prime ETP and Virtune Staked Solana ETP on Deutsche Börse Xetra in Germany

    Source: GlobeNewswire (MIL-OSI)

    Frankfurt, 17th July 2025 – Swedish regulated crypto asset manager Virtune launches Virtune Bitcoin Prime ETP and Virtune Staked Solana ETP in Germany on Deutsche Börse Xetra, expanding its offering of physically backed crypto exchange-trade products in the German market. The products are also being listed on other German exchanges including gettex.

    Virtune, a Swedish digital asset manager and issuer of physically backed crypto exchange-traded products (ETPs), has earned the trust of over 140,000 investors across the Nordics since its launch just over two years ago. With more than $430 million in assets under management (AUM), Virtune continues to strengthen its position as one of the leading issuers of regulated crypto investment products across Europe.

    Following the successful German launch of the Virtune XRP ETP (ticker: VRTX, WKN: A4AKW5) and the Virtune Coinbase 50 Index ETP (ticker: VRTC, WKN: A4A5D4), a unique product launched in partnership with Coinbase, tracking the Coinbase 50 Europe Index, Virtune is now expanding its German offering with two new listings that are now available for investors through German brokers and banks:

    Virtune Bitcoin Prime ETP (VRTB) – a cost-efficient way to gain exposure to Bitcoin with an annual management fee of just 0.25%.

    Virtune Staked Solana ETP (VRTS) – providing investors with exposure to Solana combined with staking rewards for enhanced annual returns.

    These new listings reflect Virtune’s commitment to offering German investors secure, transparent, and regulated investment opportunities to the digital asset market.

    Coinbase serves as the crypto custodian for all of Virtune’s ETPs, providing institutional-grade security with the underlying crypto assets held in cold storage.

    Christopher Kock, CEO of Virtune:

    “We are excited to further strengthen our presence in the German market with the launch of Virtune Bitcoin Prime ETP and Virtune Staked Solana ETP on Xetra. Following our previous listings, this expansion highlights our continued commitment to making institutional-grade crypto investment products accessible to investors across Europe”

    Virtune Bitcoin Prime ETP – Key Product Information

    • Exposure to Bitcoin
    • 100% physically backed by Bitcoin being stored in cold-storage with Coinbase
    • 0.25% annual management fee
    • First Day of Trading: Wednesday, 16th of July 2025
    • Xetra Exchange Ticker: VRTB
    • ISIN: SE0025012032
    • WKN: A4AN8F
    • Trading currency: EUR

    Virtune Staked Solana ETP – Key Product Information

    • Exposure to Solana
    • 3% increased annual return through staking rewards
    • 0.95% annual management fee
    • First Day of Trading: Wednesday, 16th of July 2025
    • Xetra Exchange Ticker: VRTS
    • ISIN: SE0021309754
    • WKN: A4AGZQ
    • Trading currency: EUR

    For further inquiries, please contact:
    Christopher Kock, CEO & Member of the Board of Directors
    Mobile: +46 70 073 45 64
    Email: christopher@virtune.com

    About Virtune AB (Publ):

    Virtune with its headquarters in Stockholm is a regulated Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges.

    With regulatory compliance, strategic collaborations with industry leaders and our proficient team, we empower investors on a global level to access innovative and sophisticated investment products that are aligned with the evolving landscape of the global crypto market.

    Cryptocurrency investments are associated with high risk. Virtune does not provide investment advice. Investments are made at your own risk. Securities may increase or decrease in value, and there is no guarantee that you will recover your invested capital. Please read the prospectus, KID, terms at www.virtune.com.

    The MIL Network

  • MIL-OSI Africa: Access to healthcare is being compromised by violence in Cabo Delgado

    Source: APO


    .

    • An estimated 400,000 people in Cabo Delgado province have been displaced over the eight years of conflict in northern Mozambique.
    • Attacks are limiting people’s access to healthcare, as health centres are under staffed, and humanitarian organisations are having to suspend activities due to insecurity.
    • Health workers and facilities must be protected from violence, and the communities where displaced people are arriving to need a coordinated humanitarian response.

    An alarming rise in violence in Cabo Delgado, the northernmost province of Mozambique, is severely compromising communities’ access to healthcare. Nearly eight years of conflict in northern Mozambique has already taken a huge toll on the people living in the province, of whom more than 400,000 are displaced. Fighting and insecurity have led to the forced reduction of medical activities, and have limited the movements of health workers and the communities in affected areas. Médecins Sans Frontières (MSF) is calling for the protection of medical workers and health facilities from violence, and for a coordinated humanitarian response to be ensured in the communities where displaced people are arriving.

    Already in 2025, 43,000 people have been newly displaced following attacks and violent incidents. Over 134,000 people were affected by violence in May alone, according to OCHA.1This is the most significant rise in violence since June 2022. Many of these recent violent incidents took place in the districts of Macomia, Mocímboa da Praia, Muidumbe and Meluco, and the violence has even spread to neighbouring Niassa province. 

    Macomia, a major town in central Cabo Delgado, was attacked by a non-state armed group in May 2024, forcing MSF, as well as other humanitarian organisations, to stop or suspend activities. We were gradually able to resume operations in April 2025. More than a year after the attack, only one health facility is operational in the district, compared to the seven health centres that were functional before.

    “With the increase in displacements, many people have come to seek refuge in Macomia, overwhelming the only functional health centre,” says Dr Emerson Finiose, an MSF medical doctor in Macomia. “We’re struggling to do medical referrals. We must prioritise the most severe cases, leaving a significant gap in care for the rest of the community.”

    The situation in Macomia illustrates the fragility of the health system in Cabo Delgado, a pattern repeated across the three other districts where MSF is present: Mocímboa da Praia, Mueda and Palma. Since the conflict began, more than fifty per cent of the province’s health facilities have been completely or partially destroyed, according to official data. This was further worsened when Cyclone Chido struck southern areas of Cabo Delgado late last year.

    At the same time, many health facilities are non-functional due to the absence of health workers; services are frequently suspended or reduced, particularly in hard-to-reach areas, and many of the functional facilities are under-resourced or located too far for many people to access safely.

    In 2025, MSF was forced to suspend outreach activities five times due to insecurity, for at least two weeks at a time, particularly in Macomia and Mocímboa da Praia. This left thousands of people without access to healthcare and jeopardised the continuity of care for patients. 

    MSF teams provide basic healthcare, treatment for HIV and tuberculosis, sexual and reproductive health services, mental health support, and maternity and paediatric care. We also carry out donations of medicines and medical supplies, and provide water and sanitation services. Between January and May 2025, MSF carried out a monthly average of 18,000 medical consultations (both inpatient and outpatient), 30 referrals of patients in need of specialised care, and assisted in 740 deliveries, across the four districts where we work.

    The limitations – and sometimes inability – to offer care due to this volatile context has a deep impact on the community. This is evident in our medical data: in April, our teams in Mocímboa da Praia carried out 12,236 outpatient consultations. In May, as incidents intensified, that number dropped drastically to 1,951.

    A crucial part of MSF’s response is carried out by health promotion teams and community health workers. They work with communities to share essential health information and promote healthy practices, such as handwashing. MSF trains some community health workers to identify and treat common diseases, such as malaria, a leading cause of death in the region, and to process the referral of patients in need of specialised care.

    “Sharing health information is very important in times of conflict, when many people are psychologically affected,” says Fatima Abudo Laíde, an MSF health promoter in the Malinde community, in Mocímboa da Praia district. “Sometimes a person is sick but can’t be open, because emotionally they’re not well. I help them seek treatment at the nearest health centre, so they’re not isolated.”

    “I’ve faced difficult situations, like accompanying a woman in labour at three in the morning, even though I felt unsafe,” she says. “But we’re here to support our community, to overcome fear, and to make sure no one is left without help.”

    In addition to suffering acute psychological distress and trauma, some patients are forced to interrupt their treatments. This is particularly concerning for pregnant women, older adults, people with disabilities, and people living with chronic conditions or HIV.

    “I remember a case in Mbau community where a pregnant woman went into labour late at night,” says Sunga Antônio, an MSF midwife at the Rural hospital of Mocímboa da Praia. “The health promoter called us for help, but it was too late and risky to evacuate her. She gave birth in the community, and we could only take her to the hospital by morning. Sadly, she fell into a coma, likely from complications, as she was carrying twins. If the local health centre had been functional, she could have received timely care and had a safe delivery.”

    Recent cuts in humanitarian aid continue to worsen the situation in Cabo Delgado. These funding shortfalls illustrate the broader global issue: the collective ability to respond to people’s needs is collapsing across all sectors and organisations. 

    “Cabo Delgado’s conflict has become a severe humanitarian crisis,” says Dr Finiose. “It affects every aspect of life, especially healthcare and education, and it strips people of their dignity. We need safe access to communities in need, and support from other actors so we can help them cope with the consequences of this crisis.”

    Distributed by APO Group on behalf of Médecins sans frontières (MSF).

    MIL OSI Africa

  • MIL-OSI Africa: South Africa: Committee on Health Receives Inputs on Tobacco Bill from Lesedi Black Business Forum and World Vapers Alliance

    Source: APO


    .

    The Portfolio Committee on Health has received briefings from the Lesedi Black Business Forum (LBBF) and the World Vapers Alliance (WVA) on the Tobacco and Electronic Delivery System Control Bill.

    The LBBF supported the objectives of the Bill but called for a balance between public health and economic considerations. It said it has interacted with the Department of Health, via an online workshop organised by the department in 2020 but the LBBF is disappointed that the issues it raised in that workshop are not reflected in the final draft Bill submitted to Parliament.

    On regulation, it said it supports efforts to reduce smoking in South Africa. Mr Lobi of the LBBF said a smarter, more practical approach is required to achieve the Bill’s goal while avoiding harm to communities and businesses in the process. He urged the government to focus more on stopping the out-of-control illicit tobacco trade, which harms young people and the poor the most.

    The LBBF said the government should work on preventing young people from smoking by using behavioural and educational programmes, as was done in the past with HIV/Aids awareness campaigns, for instance. These programmes are key to finding a lasting solution to reducing smoking.

    Mr Lobi said: “We have a problem with the criminalisation of smokers. Treating smokers as criminals is unfair and ineffective, and we encourage a more supportive approach to help them quit.”

    The LBBF emphasised that in their local municipality, tobacco manufacturing is an anchor industry but it is being jeopardised by the Bill, should it be adopted as it is. Mr Lobi added: “Beyond specific Lesedi consideration, the Bill fails to account for the commercial interests of small traders that dot the South African landscape due to lack of employment opportunities.”

    The WVA is concerned that the Bill equates vaping with smoking. Provisions such as flavour bans, advertising restrictions, plain packaging and public use bans exacerbate the situation. Overregulation may drive consumers back to smoking or the illicit market. Notably, WVA said the Bill fails to acknowledge vaping as a tool for harm reduction. The WVA in its briefing submitted evidence from Sweden, demonstrating a remarkable 55% decline in smoking rates over the past decade.

    Committee chairperson Dr Sibongiseni Dhlomo said inputs made during the public engagement process will be taken into consideration and applied when the committee starts its deliberation on the Bill after consultations with the public are completed.

    The objective of the Bill is to strengthen public health protection measures, align South African tobacco control law with the World Health Organisation Framework Convention on Tobacco Control, and repeal the Tobacco Control Act of 1993 and its amendments.

    Key provisions in the Bill include the introduction of 100 percent smoke-free indoor public places and certain outdoor areas; a ban on the sale of cigarettes through vending machines; the implementation of plain packaging with graphic health warnings; a ban on the display of products at points of sale; and the regulation and control of electronic nicotine delivery systems and non-nicotine delivery systems.

    Distributed by APO Group on behalf of Republic of South Africa: The Parliament.

    MIL OSI Africa

  • MIL-OSI Asia-Pac: Government posts land resumption notices for urban renewal project in Kowloon City

    Source: Hong Kong Government special administrative region

    The Lands Department today (July 17) posted land resumption notices in accordance with section 4 of the Lands Resumption Ordinance (Chapter 124) to resume land at Nga Tsin Wai Road/Carpenter Road in Kowloon City for the implementation of an urban renewal project.
     
    The project was included in the Urban Renewal Authority’s Business Plan for 2022-23, and its implementation will help improve the overall living environment in the area. The project site, with a gross area of about 37 061 square metres, will be redeveloped for residential use with retail/commercial facilities, at-grade landscaped diversified space, as well as underground ancillary parking and loading/unloading facilities. The project will also provide a public vehicle park and government, institution or community facilities.
     
    A total of 1 009 property interests at the project site will be resumed by the Government. The affected interests will revert to the Government on the expiration of three months from the date of affixing the land resumption notices (i.e. October 18, 2025).
     
    Apart from statutory compensation, eligible owners of domestic properties will also be offered an ex-gratia home purchase allowance or a supplementary allowance as appropriate. Eligible domestic tenants will be offered rehousing or an ex-gratia allowance.

    Eligible commercial property occupiers, including owners and tenants, may opt for an ex-gratia allowance in lieu of the right to claim statutory compensation for business and related losses.

    If statutory claims made by the affected owners and tenants of both domestic and commercial properties under the Lands Resumption Ordinance cannot be settled by agreement, the owners and tenants may apply to the Lands Tribunal for adjudication. Professional fees reasonably incurred by the claimants in making such claims may be reimbursed by the Government.

    MIL OSI Asia Pacific News

  • MIL-Evening Report: Why a surprise jump in unemployment isn’t as bad as it sounds

    Source: The Conversation (Au and NZ) – By Jeff Borland, Professor of Economics, The University of Melbourne

    New figures show Australia’s seasonally adjusted unemployment rate unexpectedly rose to 4.3% – its highest level since late 2021 – in June this year, up from 4.1% in May.

    While this is bad news, it’s not as bad as it might seem. Higher unemployment came from more people looking for work. In the long run, that’s good for the economy.

    And these figures also make it more likely we’ll see an interest rate cut next month – which is now looking overdue.

    What’s the bad news?

    This is the second month in a row we’ve seen no growth in total employment, while total hours worked (the number of hours worked by employed individuals, regardless of whether they are full-time, part-time or overtime) in the past month has gone backwards.

    All this adds to the picture of a slowing labour market since the start of the year, after surprisingly strong growth in the second half of 2024.

    The latest Australian Bureau of Statistics release also includes data on where extra hours worked during 2025 have come from.

    Employment growth has come entirely from the “non-market sector” – which is healthcare and social assistance, education and training, and public administration and safety. And the big driver of those extra jobs has been in social assistance and health care, which is largely government-funded.

    That means employment has gone backwards in the rest of the economy, adding to a picture of a jobs market being propped up by government investment in the caring economy.

    Why it as bad as you might think

    The reason unemployment rose is that more people were looking for work – so it’s not because employment fell.

    Of course, we’d prefer those people to have found jobs. But it does mean people weren’t losing jobs for the unemployment rate to rise.

    The growth in labour force participation in June continues the trend of strong growth since late 2021. In the long run, that’s a good thing – it means the country can produce more output, and more people gain an income from work.

    An interest rate cut now looks more certain

    A fortnight ago, the Reserve Bank surprised most people by keeping the cash rate on hold at 3.85%.

    Today’s unemployment data is extra evidence that the labour market isn’t contributing to inflation pressure – in fact, it’s the opposite.

    It shows an interest rate cut is now overdue. The Reserve Bank board meets again in mid-August, with a decision on rates announced on August 12.

    When will we know if this is a blip or a trend?

    One possibility is that some of the extra people who became unemployed in June have a job to go to in the next month. Ups and downs in that group have at times been influential in driving unemployment numbers in recent times. In that case, this month’s figures may partly turn out to be a blip. We’ll be able to tell that when we see next month’s figures.

    But the blip is unlikely to explain all of the rise in June. This is also about a labour market that is slowing.

    Jeff Borland receives funding from the Australian Research Council.

    ref. Why a surprise jump in unemployment isn’t as bad as it sounds – https://theconversation.com/why-a-surprise-jump-in-unemployment-isnt-as-bad-as-it-sounds-261375

    MIL OSI AnalysisEveningReport.nz

  • Trump says he’s not planning to fire Fed’s Powell

    Source: Government of India

    Source: Government of India (4)

    U.S. President Donald Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome Powell, but he kept the door open to the possibility and renewed his criticism of the central bank chief for not lowering interest rates.

    A Bloomberg report earlier Wednesday saying that Trump was likely to fire Powell soon sparked a drop in stocks and the dollar, and a rise in Treasury yields.

    Trump, who has been criticizing Powell on an almost daily basis for being “TOO LATE” to cut interest rates, said the report wasn’t true. But Trump confirmed he had floated the idea with Republican lawmakers on Tuesday evening, marking the latest chapter in an escalating campaign by Trump against the independent central bank and its embattled chief.

    “I don’t rule out anything, but I think it’s highly unlikely unless he has to leave for fraud,” Trump said, a reference to recent White House and Republican lawmaker criticism of cost overruns in the $2.5 billion renovation of the Fed’s historic headquarters in Washington. There has been no evidence of fraud, and the Fed has pushed back on criticism of its handling of the project.

    Powell, who was nominated by Trump during his first term in late 2017 to lead the Fed and then nominated for a second term by Democratic President Joe Biden four years later, has repeatedly said he intends to serve out his term, which runs through May 15, 2026. A recent Supreme Court opinion has solidified a long-standing interpretation of the law that the Fed chair cannot be fired over policy differences but only “for cause.”

    In an interview aired later on Wednesday, Trump was again asked if he was thinking of removing Powell. “I’d love it if he wants to resign, that would be up to him,” Trump told the Real America’s Voice. “They say it would disrupt the market if I did.”

    Treasury yields pared declines and stocks ended the day higher after Trump’s comments, which included the familiar complaint that Powell is a “terrible” chair for keeping the Fed’s short-term policy rate in the 4.25%-4.50% range since December while the central bank assesses the impact of sharply higher tariffs on inflation.

    Trump blames the Fed for higher long-term rates that increase the cost of U.S. government borrowing. His attacks on Powell have continued since his signing on July 4 of the “Big Beautiful Bill,” the tax and spending bill that independent analysts say will add trillions of dollars to the U.S. deficit.

    “A HUGE MISTAKE”

    Republican Senator Thom Tillis of North Carolina, who opposed the tax bill and has since said he won’t run for reelection, on Wednesday delivered a spirited defense of an independent Fed, which economists say is the linchpin of U.S. financial and price stability.

    “There’s been some talk about potentially firing the Fed chair,” said Tillis, a member of the Senate Banking Committee, which oversees the Fed and confirms presidential nominations to its Board. Subjecting the Fed to direct presidential control would be a “huge mistake,” he said.

    “The consequences of firing a Fed chair, just because political people don’t agree with that economic decision, will be to undermine the credibility of the United States going forward, and I would argue if it happens you are going to see a pretty immediate response, and we’ve got to avoid that,” said Tillis.

    Other Republicans downplayed the possibility of Trump’s firing Powell.

    Asked if it would be a problem for Trump to fire Powell, Senate Majority Leader John Thune told reporters: “My understanding is he doesn’t have any intention of doing that.”

    “President Trump’s own analysis and that of his Treasury secretary is that he cannot fire Jay Powell,” House Financial Services Committee Chair French Hill told CNBC earlier on Wednesday.

    RENOVATIONS AT THE FED

    Last week, the White House appeared to try to lay the groundwork for firing Powell for cause when the director of the Office of Management and Budget, Russell Vought, sent Powell a letter saying that Trump was “extremely troubled” by the renovations of two Fed buildings.

    Powell responded by asking the U.S. central bank’s inspector general to review the project. The central bank also posted a “frequently asked questions” fact sheet, which rebutted some of Vought’s assertions about VIP dining rooms and elevators that he said added to the costs.

    “Nobody is fooled by President Trump and Republicans’ sudden interest in building renovations — it’s clear pretext to fire Fed Chair Powell,” Elizabeth Warren, the top Democrat on the Senate Banking Committee and herself a longtime critic of Powell, posted on X. Warren was the committee’s only member to vote against Powell’s renomination as chair in 2022, saying he had not done enough on regulation.

    Fed policymakers are worried that, with 40-year-high inflation only recently in the rear-view mirror, any bump up in inflation coupled with a too-early cut to short-term borrowing costs could ignite expectations that inflation is back, a potentially self-fulfilling prophecy that could weaken the economy and undermine progress on price stability.

    Analysts said they feared the pressure campaign on Powell would continue — with deleterious effects on the Fed’s ability to do its congressionally mandated job of both keeping prices stable and maximizing employment.

    “Any reduction in the independence of the Fed would likely add upside risks to an inflation outlook that is already subject to upward pressures from tariffs and somewhat elevated inflation expectations,” wrote JP Morgan chief U.S. economist Michael Feroli, who said he doubts the “saga” of the president’s repeated threats to remove Powell is over.

    Feroli and others noted that continued pressure on Powell would likely push up longer-term interest rates as investors demand more protection from the risk of higher inflation — making U.S. government borrowing more, not less, expensive.

    The “formal process” for identifying a successor to Powell is under way, Treasury Secretary Scott Bessent has said. Bessent is one candidate for the job, along with White House economic adviser Kevin Hassett, former Fed Governor Kevin Warsh and Fed Governor Christopher Waller.

    (Reuters)

  • Dharmendra Pradhan inaugurates University of Southampton’s India campus in Gurugram

    Source: Government of India

    Source: Government of India (4)

    Union Education Minister Dharmendra Pradhan on Wednesday inaugurated the India campus of the University of Southampton in Gurugram

    This marks the first foreign university to establish a campus in India under the University Grants Commission’s new regulations,

    Describing the event as a “momentous milestone” in the internationalisation of education under the National Education Policy (NEP) 2020, Pradhan said the development also deepens the education pillar of the India–UK strategic partnership, as outlined in the India–UK Roadmap 2030.

    “Southampton University’s campus in Gurugram will create new synergies, foster a new culture of curiosity and excellence, and present an added choice to students to access world-class education at a more affordable cost and nearer to home and family,” he said.

    Pradhan also urged the university to introduce STEM programmes and contribute to India’s vision of becoming a global innovation hub.

    The launch event was attended by Haryana Chief Minister Nayab Singh Saini, Lord Patel OBE, Chancellor of the University and a member of the UK House of Lord, British High Commissioner to India Lindy Cameron, and UGC Chairman Dr. Vineet Joshi.

    Pradhan commended the university for establishing the state-of-the-art campus within a year of receiving the Letter of Intent.

    Highlighting the growing educational ties between India and the UK, Pradhan referred to Prime Minister Narendra Modi’s description of this relationship as a “living bridge” that connects the two nations.

    UGC Chairman Dr. Vineet Joshi called the Gurugram campus a proud milestone and a model for future international collaborations under NEP 2020. He said it reaffirms India’s emerging role as a global hub for education.

    The new campus will offer undergraduate and postgraduate programmes aligned with UK academic standards. Fields of study include Computer Science, Business Management, Economics, Accounting and Finance. Students will also have the flexibility to pursue parts of their education in the UK or Malaysia.

    Academic programmes at the campus are scheduled to begin in 2025, with the inaugural cohort comprising students from India, the UAE, and Nepal. Undergraduate offerings include BSc degrees in Computer Science, Economics, Accounting & Finance, and Business Management, while postgraduate options include MSc degrees in Finance and International Management.

    The university said over 75 faculty members from leading global institutions will join the Gurugram campus, ensuring international academic quality. Its global alumni network of over 290,000 graduates, including more than 1,700 from India, is also expected to play a key role in mentoring students and facilitating industry engagement.

  • MIL-OSI Russia: Delegation of businessmen from Tajikistan visited the new campus of NSU

    Translation. Region: Russian Federal

    Source: Novosibirsk State University –

    An important disclaimer is at the bottom of this article.

    A delegation of businessmen from the Republic of Tajikistan, representing the financial and insurance sectors, visited the new campus of NSU, which is being built within the framework of the national project “Youth and Children”. During the visit, a meeting was held with the management Faculty of Economics to discuss the development of cooperation with the Central Asian republic.

    The businessmen appreciated the high level of infrastructure being created on the university campus. The delegation attended lectures in large auditoriums and were impressed by the scale and high level of organization of the educational process.

    — This is not just a modern building — it is a real world-class scientific center. I was particularly impressed by the high quality of the infrastructure, comfortable classrooms and an atmosphere conducive to learning and scientific activity. Such campuses create not just an educational environment, but a space for the formation of future leaders of science and technology, — emphasized Ayubjon Nasirov, founder and current head of the insurance organization Eskhata Sugurta.

    During the meeting with the leadership of the Faculty of Economics, cooperation between universities of Tajikistan and NSU was discussed in several key areas:

    · Training and retraining of personnel in technical and economic specialties.

    · Joint scientific research, in particular in the field of information technology, digital transformation of business and medicine.

    · Internships and student exchanges, which are especially important for practical training and international experience.

    — We would like to pay special attention to the development of the Olympiad movement and work with gifted children. We are very interested in the Physics and Mathematics School (SUNC NSU), which has been successfully working with talented schoolchildren for many years. Many of our schoolchildren — winners of republican Olympiads — studied and successfully graduated from your university. It is important not only to preserve this tradition, but also to develop it, expanding the access of talented youth of Tajikistan to your educational programs, — explained Ayubjon Nasirov.

    Thus, the deputy dean of the economics department of NSU Naimdzhon Ibragimov at one time got to the university through the PhMS. In 1981, he won the republican Olympiad in mathematics in Tajikistan, after which he was offered to enroll in the summer school at the PhMS. In 1983, he graduated from the physics and mathematics school and entered the EF NSU.

    As noted by businessmen, NSU is distinguished by a high level of academic and scientific training, powerful infrastructure, as well as deep integration of science, education and innovation. Also, the trend of recent years is the strengthening of cooperation between the university and companies and enterprises from various industries.

    — In Tajikistan, we are also actively developing the higher education system, but here, at NSU, we saw an example of how a university can become a center for technological and economic development in a region. We were especially impressed by the close connection between the university and business, which allows us to quickly adapt educational programs to the needs of the labor market and ensure that graduates are in demand, — added Ayubjon Nasirov.

    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 China: Volvo showcases health-focused tech at China Intl Supply Chain Expo

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

    A view of Volvo’s exhibition stand at the third China International Supply Chain Expo in Beijing, July 16, 2025. [Photo by Xu Xiaoxuan/China.org.cn]

    Swedish automaker Volvo is showcasing its health-focused vehicle technology at the third China International Supply Chain Expo this week, emphasizing its commitment to sustainability and passenger safety.

    The automaker has implemented strict controls on in-car materials to protect human health. While Chinese regulations ban six hazardous substances, including PBB, hexavalent chromium and lead compounds, Volvo restricts more than 6,000 substances in its vehicles. The company excludes known contact allergens from components such as seat leather and rubber door seals.

    Volvo also enforces stringent standards for volatile organic compounds beyond national requirements. The company regulates 11 additional harmful volatiles at the parts level to protect interior air quality.

    Interior air cleanliness remains a priority for the automaker. Volvo’s systems monitor particulate matter, including PM2.5, PM1 and PM0.3, along with ozone and pollen levels. A company representative at the expo said Volvo’s air conditioning filters contain high-grade activated carbon with increased thickness and density for superior pollutant absorption. The brand’s Advanced Air Cleaner system provides enhanced PM2.5 filtration efficiency.

    Volvo has established a specialized “nose team” that evaluates in-car odors to further ensure air quality. The company uses a six-level classification system for interior air: Level 1 indicates an almost undetectable scent, Level 3 represents a noticeable but acceptable smell, and Level 6 is considered intolerable. Only vehicles rated Level 3 or below meet Volvo’s internal air quality standards.

    Sustainability represents another key focus area for the automaker. Volvo is incorporating recycled and renewable materials into vehicle interiors, including low-carbon trims made from recycled PET bottles and soy-based foam for seat cushions. The company is also investing in battery recycling to reduce environmental impact.

    A company representative said these efforts align with China’s goals to peak carbon emissions before 2030 and achieve carbon neutrality before 2060, and reflect Volvo’s broader sustainability strategy.

    The company is also working to reduce average emissions per vehicle to achieve net-zero by 2040 and plans to become a fully circular business by the same year. Through collaboration with partners across its value chain, Volvo seeks to improve and protect lives while contributing to a more sustainable society.

    MIL OSI China News

  • MIL-OSI China: Volvo showcases health-focused tech at China Intl Supply Chain Expo

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

    A view of Volvo’s exhibition stand at the third China International Supply Chain Expo in Beijing, July 16, 2025. [Photo by Xu Xiaoxuan/China.org.cn]

    Swedish automaker Volvo is showcasing its health-focused vehicle technology at the third China International Supply Chain Expo this week, emphasizing its commitment to sustainability and passenger safety.

    The automaker has implemented strict controls on in-car materials to protect human health. While Chinese regulations ban six hazardous substances, including PBB, hexavalent chromium and lead compounds, Volvo restricts more than 6,000 substances in its vehicles. The company excludes known contact allergens from components such as seat leather and rubber door seals.

    Volvo also enforces stringent standards for volatile organic compounds beyond national requirements. The company regulates 11 additional harmful volatiles at the parts level to protect interior air quality.

    Interior air cleanliness remains a priority for the automaker. Volvo’s systems monitor particulate matter, including PM2.5, PM1 and PM0.3, along with ozone and pollen levels. A company representative at the expo said Volvo’s air conditioning filters contain high-grade activated carbon with increased thickness and density for superior pollutant absorption. The brand’s Advanced Air Cleaner system provides enhanced PM2.5 filtration efficiency.

    Volvo has established a specialized “nose team” that evaluates in-car odors to further ensure air quality. The company uses a six-level classification system for interior air: Level 1 indicates an almost undetectable scent, Level 3 represents a noticeable but acceptable smell, and Level 6 is considered intolerable. Only vehicles rated Level 3 or below meet Volvo’s internal air quality standards.

    Sustainability represents another key focus area for the automaker. Volvo is incorporating recycled and renewable materials into vehicle interiors, including low-carbon trims made from recycled PET bottles and soy-based foam for seat cushions. The company is also investing in battery recycling to reduce environmental impact.

    A company representative said these efforts align with China’s goals to peak carbon emissions before 2030 and achieve carbon neutrality before 2060, and reflect Volvo’s broader sustainability strategy.

    The company is also working to reduce average emissions per vehicle to achieve net-zero by 2040 and plans to become a fully circular business by the same year. Through collaboration with partners across its value chain, Volvo seeks to improve and protect lives while contributing to a more sustainable society.

    MIL OSI China News

  • MIL-OSI China: Nvidia CEO depicts China’s supply chain as ‘miracle’

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

    Nvidia CEO Jensen Huang on Thursday hailed China’s supply chain as a “miracle”, highlighting China’s deep capabilities in artificial intelligence (AI) and computer science.

    “The supply chain of China is a miracle. It is the largest and most complex in the world, not just about labor, but built on deep technology, AI and software,” Huang told reporters at the ongoing China International Supply Chain Expo in Beijing.

    Huang, a frequent visitor to China this year, stressed Chinese firms’ critical role in the global tech ecosystem. “China is one of the few regions in the world with deep expertise in computer science,” he said. “The architecture and algorithms used to serve such a large population are incredibly sophisticated.”

    Huang’s remarks come amid at a time of growing U.S.-China tech tensions. Despite regulatory pressure and geopolitical tensions, Huang stressed the importance of continued collaboration and connection.

    “We rely on the global supply chain to build very complicated products,” he said, noting that Nvidia contributes software and hardware that power systems worldwide.

    During the interview, Huang remained focused on the message: “Supply chain is connection. It takes many suppliers and providers around the world connected together in a supply chain.”

    Last week, the chipmaker became the first company ever to touch 4 trillion U.S. dollars in market value.

    Asked about the future of AI, Huang viewed it as the next major technological revolution, though still in its early stages. “The last 10 to 12 years were about preparing for today. Now, AI can reason, think and understand information. It’s incredible,” he said.

    He also addressed the mounting concerns around AI safety. “We have to continue to advance the technology safely,” Huang said, citing cybersecurity and environment monitoring as key areas to ensure responsible development.

    In response to a question about China’s role in AI development, Huang pointed to the country’s large pool of researchers and deep interest in science and mathematics.

    “China has great researchers perfectly prepared for this moment,” he said. 

    MIL OSI China News

  • MIL-OSI Banking: Briefing by the Secretary-General of ASEAN on the Outcomes of the 58th ASEAN Foreign Ministers’ Meeting and Related Meetings in Malaysia

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, will share key takeaways and insights from the 58th ASEAN Foreign Ministers’ Meeting and Related Meetings, held in Kuala Lumpur, Malaysia, on 8-11 July 2025.
    The briefing will take place on Friday, 18 April 2025 at 1400 hours (Jakarta Time) and will be streamed live on YouTube: https://youtube.com/live/av2wcKPx1hA?feature=share
     
    #58thAMMPMC
    The post Briefing by the Secretary-General of ASEAN on the Outcomes of the 58th ASEAN Foreign Ministers’ Meeting and Related Meetings in Malaysia appeared first on ASEAN Main Portal.

    MIL OSI Global Banks

  • MIL-OSI Russia: UK inflation rises 3.6 percent in June

    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

    LONDON, July 17 (Xinhua) — Britain’s annual consumer price inflation rose 3.6 percent in June, the highest since January 2024, the Office for National Statistics (ONS) said on Wednesday.

    The ONS said the rate stood at 3.4 per cent in May. It attributed the rise mainly to higher prices for motor fuel, air and rail travel, and food.

    Food and non-alcoholic beverage prices rose 4.5 percent year-on-year, the highest since February 2024.

    Core inflation excluding energy, food, alcohol and tobacco rose by 3.7 percent in June, up from 3.5 percent in May. Services inflation, a key indicator of domestic price pressure, was unchanged in June at 4.7 percent.

    Previous data from the ONS showed that UK real GDP contracted by 0.1% in May 2025, the second month in a row, following a 0.3% decline in April.

    In mid-June, the Bank of England decided to leave its benchmark interest rate unchanged at 4.25%, citing persistent inflationary pressures and heightened global uncertainty.

    June inflation remains well above the 2 percent target, and the base rate is expected to be cut in August.

    Market analysts believe that in 2025 the regulator will lower the rate at least twice more, which could reach 3.75 percent by the end of the year. –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 China: Announcement on Open Market Operations No.136 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.136 [2025]

    (Open Market Operations Office, July 17, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB450.5 billion through quantity bidding at a fixed interest rate on July 17, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB450.5 billion

    RMB450.5 billion

    Date of last update Nov. 29 2018

    2025年07月17日

    MIL OSI China News

  • MIL-OSI Africa: Ethiopia Takes Bold Strides on Health Taxes to Drive Universal Health Coverage

    Source: APO – Report:

    .

    In a landmark show of political will and multisectoral collaboration, the Ethiopian House of Peoples’ Representatives (HPR), the Ministry of Health, and partners are spearheading one of Africa’s most promising health financing reforms. By embracing health taxes as a strategic tool, Ethiopia has started strengthening its national health system, curbing the rise of noncommunicable diseases (NCDs), and advancing its journey toward Universal Health Coverage (UHC).

    This momentous collaboration was showcased during a high-level training workshop held from 13 to 14 June 2025 in Adama, Ethiopia. The forum was jointly organized by WHO Ethiopia and the Ministry of Health, in partnership with the Inter-Parliamentary Union (IPU), and with generous financial support from the Government of Norway.

    The two-day event brought together 63 MPs and parliamentary staff as well as 13 senior officials of the Ministry of Health, reaffirming the critical role of legislative bodies in shaping public health through economic policy.

    The workshop focused on consolidating the capacity of lawmakers to further understand and champion health taxes—specifically excise taxes on tobacco, alcohol, and sugar-sweetened beverages. These taxes are globally recognized for their dual impact: they discourage the use of harmful products while generating sustainable revenue to fund essential health services.

    In her opening remarks, H.E. Lomi Bedo, Deputy Speaker of the House of Representatives, emphasized the transformative power of Ethiopia’s 2020 excise tax law. “By raising taxes on tobacco, alcohol, and other harmful products, Ethiopia has taken a critical step toward safeguarding public health and promoting healthier communities,” she stated. “Increasing prices on unhealthy commodities remains one of the most effective strategies to reduce their consumption and associated health risks, including addiction and premature death.”

    Her remarks echoed the growing recognition of Parliament’s proactive legislative stance—one that aligns with the nation’s development vision and its commitment to achieving the Sustainable Development Goals (SDGs).

    Ethiopian State Minister of Health H.E. Dr. Dereje Duguma on his part warned that misleading narratives from the tobacco industry persist—particularly claims that more than 50% of the tobacco market has turned illicit post-legislation. He stressed the importance of evidence-based policymaking and pledged the Ministry’s continued collaboration with Parliament, WHO, and all development partners to strengthen tax administration and uphold Ethiopia’s progress toward UHC and NCD control.

    Delivering a keynote address, Dr. Owen Laws Kaluwa, WHO Representative to Ethiopia, praised Ethiopia’s leadership in adopting bold and effective non-traditional mechanisms to raise additional funds for the country. “Stronger health systems enable countries to allocate scarce resources to their most pressing priorities,” Dr. Kaluwa said. “The 2020 excise tax legislation remains one of the most impactful policy tools for reducing the consumption of harmful products while boosting domestic revenue.”

    Dr. Kaluwa highlighted that WHO’s support to Ethiopia is part of a multi-year project on health taxes implemented in collaboration with IPU and funded by the Norwegian Government. As a priority country in this initiative, Ethiopia is receiving targeted technical assistance for policy analysis, tax implementation, and improved access to NCD treatment and care.

    Throughout the workshop, MPs and parliamentary technical staff deliberated on the latest global and national evidence on the effectiveness of health taxes. Participants engaged in hands-on sessions using updated policy briefs, data, and technical tools designed to inform legislative decisions and sustain tax implementation in the long term.

    Key discussions focused on the importance of Parliament’s role in maintaining robust tax systems, supporting annual adjustments, and shielding policy development from industry interference. Participants reaffirmed their commitment to advancing fiscal policies that prioritize public health and social equity.

    Health taxes have gained wider recognition globally as part of a broader push to combat NCDs—conditions such as cardiovascular disease, cancer, diabetes, and other chronic illnesses that account for more than 70% of global deaths and disproportionately affect low- and middle-income countries. Ethiopia’s approach—grounded in science, backed by policy, and supported by partners—demonstrates how strategic legislation can serve both public health and economic resilience.

    Looking ahead, WHO Ethiopia reaffirmed its dedication to working alongside Parliament, the Ministry of Health, the Ministry of Finance, and other stakeholders to reinforce Ethiopia’s health financing landscape. This includes ensuring that health taxes are not only implemented but effective, efficient, and accountable public financial management systems are necessary for the additional revenues to reach and be accountable for expenditure objectives.

    “Health taxes are not just a revenue tool—they are a health-saving, life-preserving measure,” Dr. Kaluwa concluded. “Ethiopia’s continued leadership in this space is not only commendable but also offers a blueprint for the region and beyond.”

    As the country continues its path toward UHC, Ethiopia’s experience highlights the power of political commitment, intersectoral collaboration, and strategic investment in health. The success of its health tax policy and administration illustrates how even modest fiscal interventions can yield transformative outcomes—saving lives, strengthening systems, and building a healthier future for all.

    – on behalf of World Health Organization (WHO) – Ethiopia.

    MIL OSI Africa

  • MIL-OSI New Zealand: Industry Skills Boards

    Source: Tertiary Education Commission

    This page explains the establishment of new Industry Skills Boards (ISBs), how to apply to become a board member, and the role of Establishment Advisory Groups in preparing for the ISBs’ launch in January 2026.
    This page explains the establishment of new Industry Skills Boards (ISBs), how to apply to become a board member, and the role of Establishment Advisory Groups in preparing for the ISBs’ launch in January 2026.

    On this page:

    Overview of the ISBs’ coverage
    In April and May 2025, the Government consulted on a proposed model for the number and coverage groupings of ISBs. The consultation included a proposal to move the coverage for some sectors (creative industries and IT) to the New Zealand Qualifications Authority (NZQA).
    Thank you to the groups and individuals that made submissions on the proposals. Your views helped inform final decisions by the Government on the number and coverage of ISBs.
    We received 521 submissions on the proposals. Following this consultation, the Government has agreed (subject to the passing of legislation) to establish eight ISBs.
    The agreed ISBs will have the following broad coverage areas:

    Automotive, transport and logistics
    Construction and specialist trades
    Food and fibre (including aquaculture)
    Health and community
    Infrastructure
    Manufacturing and engineering
    Services
    Electrotechnology and information technology.

    Industry Skills Board
    Example sectors within industry coverage

    Automotive, transport and logistics

    Automotive mechanics, commercial road transport, logistics, maritime

    Construction and specialist trades

    Carpentry, flooring, plumbing, gasfitting and drainlaying, roofing, scaffolding

    Food and fibre (including aquaculture)

    Agriculture, forestry, horticulture, aquaculture

    Health and community

    Aged care, community health and support, funeral services

    Infrastructure

    Electrical supply, road construction, telecommunications, water infrastructure, composites, energy, mining, quarrying

    Manufacturing and engineering

    Food and beverage manufacturing, mechanical engineering, textiles, rail operations, wood manufacturing

    Services

    Business services, creative arts, hairdressing and barbering, hospitality, recreation, retail, tourism

    Electrotechnology and information technology

    Electrotechnology, electronics, communications technology, computing

    All industries will be covered by ISBs. NZQA will not initially take over any industry coverage. 
    In the next few months, Establishment Advisory Groups will consult with industry regarding the detailed coverage areas of each ISB. This will then be set out in the Order in Council that will formally establish each ISB.
    Overview of the Establishment Advisory Groups
    Prior to being established, each ISB will have a dedicated Establishment Advisory Group (EAG) that will be responsible for ensuring the ISB can successfully stand up, as an organisation, on day one.
    There will be various decisions that the governing body of each new ISB will need to make on the day the organisation is established. Their ability to make the required decisions promptly will be essential to the success of their organisation and their ongoing accountability and performance.  
    Until the legislation is passed, there are limits on how much work can be done in advance.
    The TEC has confirmed the appointment of members to the EAGs. These members were nominated by industry, ensuring that the system is responsive to industry needs.
    The EAG members will attend an induction in late July. Following induction, each EAG will meet monthly to make key decisions to be ratified by its Industry Skills Board once it has been appointed, including:

    appointing a chief executive-designate
    preparing day one documentation including delegations
    agreeing banking arrangements
    developing key policies
    determining an organisational structure and industry engagement model for making operational arrangements for day one, eg, shared services, lease of premises, systems etc.
    agreeing processes with relevant organisations on the transfer of assets and staff
    assisting the TEC with the consultation on key content for Orders in Council.

    TEC will provide support to every EAG, including advice and administrative support.
    Detailed coverage consultation
    One area that EAGs will focus on in the next few months is working with industry to determine the detailed coverage areas of each ISB.  The details of this consultation are not yet finalised but EAGs will communicate directly with industry on these matters.
    This information will then be set out in the Order in Council (OIC) that will formally establish each ISB. The OICs will need to be approved by Cabinet after the legislation has been passed.
    Apply to be a member of the first ISBs
    We have confirmed the members of the EAGs who will work towards setting up Industry Skills Boards on 1 January 2026.
    The TEC is now inviting industries to nominate representatives for appointment to the first ISBs. These boards will be in place from 1 January 2026.
    Candidates will need strong governance and change management skills, an industry background, and an understanding of education and training.
    On each ISB, industry-nominated members will work alongside two members appointed by the Minister.
    What do nominees need?
    Candidates are expected to have significant governance experience combined with strategic leadership experience. Collectively, the members of each ISB will need:

    experience of strategic planning, including financial planning and sustainability
    financial management experience, including capital asset management
    a well-tuned understanding of risk
    experience in maintaining high standards while managing large-scale change
    experience of effectively monitoring organisational performance in a governance or senior management role
    experience in industry leadership, and extensive knowledge of, and connections within, industry
    an understanding of education and training.

    Who can nominate a candidate?
    Industry bodies can nominate candidates. This ensures candidates have the backing of industry. Industry bodies must obtain the permission of the candidate to be nominated.
    How to nominate a candidate
    To nominate a candidate, please complete the Industry Skills Board Member Nomination Form.
    Nominations must be received before 29 August 2025.

    MIL OSI New Zealand News

  • MIL-OSI: Announcement of Q2 2025 Financial Results on Thursday, July 31, after market close

    Source: GlobeNewswire (MIL-OSI)

    Paris, France – July 17, 2025

    Q2 2025 financial results and conference call

    Viridien will announce its second quarter 2025 results on Thursday, July 31, after market close.

    • The press release and presentation will be made available on www.viridiengroup.com at 5.45 pm (CET)
    • An English-language conference call is scheduled at 6.00 pm (CET) on the same day

    Participants must register for the conference call by clicking here to receive a dial-in number and PIN code. Participants may also join the live webcast by clicking here.

    A replay of the conference call will be available starting the following day, for a period of 12 months, in audio format on the Company’s website www.viridiengroup.com.

    About Viridien:

    Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resources, digital, energy transition and infrastructure challenges. Viridien employs around 3,400 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).

    Contacts

    Attachment

    The MIL Network

  • Sensex, Nifty open flat amid search for fresh market triggers

    Source: Government of India

    Source: Government of India (4)

    Indian equity markets opened on a muted note Thursday morning as investors awaited new cues to help break the prevailing consolidation phase.

    The BSE Sensex dipped slightly by 15 points to open at 82,619, while the NSE Nifty edged down by 2 points to 25,210. Despite the cautious start in benchmark indices, investor interest remained strong in the broader markets. The Nifty Midcap 100 rose 123 points (0.18%) to 59,741, while the Nifty Smallcap 100 gained 70 points (0.37%) to trade at 19,210.

    Sector-wise, auto, pharma, FMCG, metals, real estate, energy, infrastructure, and public sector enterprises registered early gains. On the other hand, IT, PSU banks, financial services, and media stocks came under selling pressure.

    Among the Sensex constituents, Sun Pharma, M&M, Trent, Kotak Mahindra Bank, Tata Motors, NTPC, BEL, Titan, and Power Grid were among the top performers. Meanwhile, Tech Mahindra, ICICI Bank, Axis Bank, Infosys, and Hindustan Unilever were among the major laggards.

    Market analysts noted that expectations around an India-US interim trade deal have already been priced in, limiting chances for an immediate breakout. However, any unexpected tariff reductions—such as duties below 20%, possibly around 15%—could provide a fresh upward push.

    Most Asian markets were trading flat to slightly positive. Indices in Tokyo, Shanghai, Bangkok, and Jakarta posted gains, while Hong Kong and Seoul remained in negative territory.

    Wall Street closed higher on Wednesday, aided by positive sentiment across key sectors. Back home, foreign institutional investors (FIIs) continued their selling streak, offloading equities worth ₹1,858 crore on July 16. In contrast, domestic institutional investors (DIIs) provided support to the market for the eighth consecutive session, purchasing shares worth ₹1,223 crore.

    While short-term movements remain range-bound, analysts believe the broader outlook remains constructive, provided critical support levels hold firm.

  • MIL-OSI Analysis: From coal to crops: Dayak women lead a just transition through backyard farming

    Source: The Conversation – Indonesia – By Aidy Halimanjaya, Associate lecturer, Universitas Katolik Parahyangan

    The global shift toward renewable energy is no longer a choice but a necessity: the climate crisis intensifies, with 2024 confirmed as the warmest year on record.

    Yet in Indonesia, coal remains an economic lifeline for several regions. In East Kutai, East Kalimantan, coal mining accounts for nearly 75% of the district’s gross regional domestic product (GRDP).

    The end of the coal mining era will come at a cost to local residents, many of whom risk losing their current jobs — especially after their traditional forest-based livelihoods have already been eroded by environmental degradation tied to fossil fuel extraction.

    Aulia, 31, a Dayak women from East Kutai, admitted:

    We’re heavily dependent on mining—it’s the only thing that gives us a substantial income.

    Yet, amid this dilemma, indigenous Dayak women are unfolding a quiet revolution.

    By growing food crops in their backyards, these women not only generate income but also demonstrate that sustainable agriculture can align with local traditions. Their initiative is an inspiration, especially for communities near mining sites seeking alternative sources of income.

    Mining’s hidden toll on women and indigenous communities

    While coal fuels East Kalimantan’s economy, its benefits are unevenly distributed. In 2024, Kutai Kartanegara and East Kutai regencies were ranked first and third among the province’s poorest regions.

    Instead of prosperity, many residents face environmental degradation and the loss of traditional livelihoods (land-based livelihood). This is especially true for women, who are often marginalised in decision-making and excluded from the mining sector.

    Since the forest was converted into a mining pit, the indigenous Dayak Basap community, which once relied on the forest for its livelihood, has lost its traditional living space and been forced to adapt to survive.

    Many men have turned to mining, while women have sought other ways to support their families: some teach, others run small businesses, and many now grow chillies, spinach, and watercress in their backyards.

    From backyards to resistance: A community’s fight for survival

    With the changing economic landscape, Basap Dayak women are turning to their yards as a source of alternative income. There, they grow food crops that yield quick harvests, are in high demand, and may influence local inflation — such as chillies. Spinach and watercress are also among the popular choices.

    This shift is driven by a 2024 pilot project from Just Transition Indonesia and Parahyangan University, supported by Energi Muda, a local NGO focused on energy transition issues.

    On a 700-square-metre plot, local residents have learned to blend traditional farming with modern permaculture techniques, including composting and crop rotation. Permaculture is a holistic approach to agriculture and land management that mimics patterns found in surrounding natural ecosystems. Local youth are also engaged as community mobilisers to support the post-coal transition.

    The results are promising. With agricultural science and technological support from the startup HARA, Dayak Basap women have overcome challenges such as acidic soil and water pollution caused by mining. Through seed cultivation, their crop yields have even outperformed those of conventional farming methods previously tested.

    They’ve also learned to sell their harvests directly to consumers — such as restaurants and cracker producers — cutting out middlemen and increasing their bargaining power. This combination of traditional knowledge and modern innovation is not only enhancing community capacity but also delivering tangible economic benefits.

    When innovation meets tradition: Overcoming barriers

    However, the journey is far from easy. Formerly mined land takes a long time to recover. Acidic soil and water contaminated with heavy metals pose serious challenges, while limited access to tools and fertilisers remains a significant barrier. In some cases, communities must purchase pre-grown seedlings to speed up the planting process.

    This chilli planting program has been very good. It’s just that the condition of the land was inadequate and hard to improve. If there’s a chance, maybe we can try farming that lasts more than just one season—Indigenous Dayak women.

    Furthermore, the transition from shifting cropping to a long-term management system requires ongoing training. This kind of adaptation certainly cannot be achieved overnight and requires intensive mentoring.

    A just transition must be grassroots-led

    Initiatives like these offer valuable lessons.

    First, the energy transition must involve local communities—especially women—from the outset.

    Second, collective, community-based approaches have proven more sustainable than top-down programmes, which often fail to address real needs on the ground.

    Third, policy support must be directed toward grassroots initiatives like this. The focus should not only be on meeting transition targets, but also on ensuring social and ecological justice.

    In the global context, Indonesia has expressed its commitment through the Paris Agreement and the Just Energy Transition Partnership (JETP). However, this commitment must be grounded in the lived experiences of communities, particularly indigenous women and those directly impacted by extractive industries.

    A just energy transition requires gradual steps, targeted programme support, inclusive partnerships, and genuine commitment from all stakeholders.

    The story of the Dayak Basap women is more than one of resilience—it is a roadmap for a just energy transition. Their success proves that economic diversification is possible, even in coal-dependent regions. But that success hinges on the quality of support: whether it truly meets community needs and is led by strong local leadership.

    Aidy Halimanjaya terafiliasi sebagai pendiri dan direktur Yayasan Transisi berkeadilan Indonesia. Ia menerima dana dari Bank Indonesia melalui Universitas Parahyangan.

    ref. From coal to crops: Dayak women lead a just transition through backyard farming – https://theconversation.com/from-coal-to-crops-dayak-women-lead-a-just-transition-through-backyard-farming-260827

    MIL OSI Analysis

  • MIL-OSI New Zealand: Health – ProCare welcomes fast-tracked registration for overseas doctors

    Source: ProCare

    ProCare welcomes the Medical Council’s decision to recognise overseas-trained doctors from Chile, Croatia, and Luxembourg as part of the “Comparable Health System pathway”. Alongside the fast-track registration for GPs from the USA, Canada, and Singapore, this will deliver a much-needed boost to general practices across Aotearoa who are facing a significant GP shortage.

    The decision means ProCare will be better placed to support its primary care network to recruit offshore GPs; further helping to ease workforce pressure and improve access to care for communities.

    Bindi Norwell, Chief Executive at ProCare, says the organisation is ready to support practices to take full advantage of the change.

    “We know our practices are under pressure and this change gives us a practical way to bring in skilled clinicians faster,” says Norwell.

    Under the changes, GPs from the United States, Canada and Singapore will have their registration applications processed within two months, while specialists from countries such as the UK, Ireland and Australia will benefit from a fast-tracked 20-day assessment process. Japan and South Korea were added to the list in February 2025.

    “At ProCare, we are deeply committed to investing in the primary care workforce. We’ve long advocated for practical solutions that support our network and improve health outcomes for our communities. This announcement aligns with that vision.”

    Earlier this month, ProCare became an Immigration NZ Accredited Employer, allowing it to directly support practices with international recruitment and immigration processes.

    “We’re actively investing in solutions for primary care that make a difference,” says Norwell. “Our investment includes tailored support for general practice teams, leadership development, and tools to improve retention and resilience. We’re committed to building a strong, sustainable workforce that delivers better health outcomes for all New Zealanders.”

    ProCare will continue working closely with its network and partners to ensure overseas-trained doctors are welcomed, supported, and integrated into the communities where they’re needed most.

    Learn about ProCare’s Investment in Workforce: https://www.procare.co.nz/about-us/investment-in-workforce/

    About ProCare

    ProCare is a leading healthcare provider that aims to deliver the most progressive, pro-active and equitable health and wellbeing services in Aotearoa. We do this through our clinical support services, mental health and wellness services, virtual/tele health, mobile health, smoking cessation and by taking a population health and equity approach to our mahi. As New Zealand’s largest Primary Health Organisation, we represent a network of general practice teams and healthcare professionals who provide care to more than 830,000 people across Auckland and Northland. These practices serve the largest Pacific and South Asian populations enrolled in general practice and the largest Māori population in Tāmaki Makaurau. For more information go to www.procare.co.nz

    MIL OSI New Zealand News