NewzIntel.com

Category: Business

  • Cambodia asks Thailand to release detained soldiers as truce holds

    Source: Government of India

    Source: Government of India (4)

    Cambodia accused Thailand on Thursday of detaining 20 of its soldiers and killing another in post-ceasefire incidents, as a fragile peace held for a third day along their disputed border.

    Five days of intense clashes between the Southeast Asian neighbours that began last week killed at least 43 people, many of them civilians, and displaced more than 300,000, until a truce brokered in Malaysia on Monday halted the fighting.

    Thailand has since accused Cambodian troops of violating the ceasefire multiple times, a charge denied by authorities in Phnom Penh, who instead allege that the Thai military has wrongfully detained a number of its soldiers.

    “We appeal to the Thai side to promptly return all 20 of our forces, including other forces if any are under Thai control,” Cambodian Prime Minister Hun Manet said on Thursday.

    In a statement, senior Cambodian defence official Lieutenant General Rath Dararoth said one Cambodian soldier had died in Thai custody since the ceasefire and his body had been returned. He did not provide further details.

    Thailand currently has custody of 20 Cambodian soldiers who had surrendered, including two who are under medical treatment, Thai Rear Admiral Surasant Kongsiri told reporters.

    “We are investigating them to verify the facts. After this is finished, they will be released,” Thailand’s Acting Prime Minister Phumtham Wechayachai said, stressing the Thai military had not violated the ceasefire agreement.

    As per talks between military commanders held after Monday’s truce announcement, Thailand and Cambodia agreed to facilitate the return of wounded soldiers and bodies of those deceased, besides refraining from reinforcing troops along the border.

    Cambodia took military attaches and diplomats to a border checkpoint on Wednesday to verify the ceasefire as both sides exchanged accusations of violating the truce.

    For decades, Thailand and Cambodia have wrangled over undemarcated points along their 817-km (508-mile) land border, with ownership of the ancient Hindu temples Ta Moan Thom and the 11th century Preah Vihear central to the disputes.

    The recent truce followed a push by Malaysia and calls by U.S. President Donald Trump’s phone calls to leaders of Thailand and Cambodia, warning them that trade deals would not be concluded if the fighting continued.

    Both countries face a tariff of 36% on goods sent to the U.S., their biggest export market.

    U.S. Commerce Secretary Howard Lutnick, in an interview with Fox News’ Sean Hannity, said early on Thursday that trade deals had been made with both countries ahead of the August 1 tariff deadline.

    (Reuters) 

  • MIL-OSI Banking: Secretary-General of ASEAN meets with Minister of Agriculture and Agri-Food of Canada

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today received the Minister of Agriculture and Agri-Food of Canada, H.E. Mr. Heath MacDonald, at the ASEAN Headquarters/ASEAN Secretariat. They discussed potential areas of cooperation between ASEAN and Canada, particularly in sustainable agriculture, the reduction of harmful agrochemicals, and the promotion of regenerative agriculture. On ASEAN-Canada Free Trade Agreement (FTA) negotiations, SG Dr. Kao encouraged Canada to adopt a constructive approach, especially in areas such as equivalence and risk assessment, which could help expedite the conclusion of the Sanitary and Phytosanitary (SPS) Chapter.

    The post Secretary-General of ASEAN meets with Minister of Agriculture and Agri-Food of Canada appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI: International Petroleum Corporation to release Second Quarter 2025 Financial and Operational Results on August 5, 2025

    Source: GlobeNewswire (MIL-OSI)

    International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) will publish its financial and operating results and related management’s discussion and analysis for the three and six months ended June 30, 2025, on Tuesday, August 5, 2025 at 07:30 CEST, followed by an audiocast at 09:00 CEST.

    Listen to William Lundin, President and CEO, and Christophe Nerguararian, CFO, commenting on the second quarter 2025 financial and operating results and the latest developments from IPC.

    Follow the presentation live starting at 09:00 CEST on Tuesday, August 5, 2025 on www.international-petroleum.com or using the link or dial-in details below:

    Presentation Link: https://ipc.videosync.fi/2025-08-05

    Dial-in numbers

    Canada/USA:   +1 786 697 3501
    UK:  +44 33 0551 0200
    Sweden:  +46 8 5052 0424

    Password

    Quote “IPC” when prompted by the operator

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50    		   Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

    Attachment

    The MIL Network –

  • MIL-OSI: CLIQ: Invitation to Second Quarter 2025 Results Presentation

    Source: GlobeNewswire (MIL-OSI)

    DÜSSELDORF, 31 July 2025 – The CLIQ Group will report and present its second quarter 2025 financial results and highlights on Thursday, 7 August 2025.

    The 2Q/6M 2025 Financial Report and a slides deck to accompany the earnings call will be available at https://cliqdigital.com/investors from 7.30 a.m. CEST.

    Earnings call

    A live audio webcast conducted in English will be held at 2.00 p.m. CEST on 7 August 2025 with presentations from Luc Voncken, CEO, and Ben Bos, member of the Management Board.

    Questions submitted before 12.00 p.m. CEST via email to investors@cliqdigital.com will be answered after the presentations.

    Please click on the link below to register for this webcast:

    https://cliqdigital.zoom.us/webinar/register/WN_c0n3F_byTX2d2wipi_uEGQ

    ZOOM details will be sent to you via email post registration and a replay of the webcast will be available shortly after the call at: https://cliqdigital.com/investors/financials/financial-reporting.

    Contacts

    Investor Relations:
    Sebastian McCoskrie, s.mccoskrie@cliqdigital.com, +49 151 52043659

    Financial calendar

    Half-year financial report 2025 & earnings call Thursday 7 August 2025
    Annual General Meeting 2025 Thursday 21 August 2025
    Financial report 3Q/9M 2025 and earnings call Thursday 6 November 2025

    About CLIQ

    The CLIQ Group is a data-driven, online performance marketing company that sells bundled subscription-based digital products to consumers worldwide. The Group licenses content from partners, bundles it to digital products, and sells them via performance marketing. CLIQ is expert in turning consumer interest into sales by monetising online traffic using an omnichannel approach.

    CLIQ operated in 40 countries and employed 132 staff from 33 different nationalities as at 31 December 2024. The company is headquartered in Düsseldorf and has offices in Amsterdam and Paris. CLIQ is listed in the Scale segment of the Frankfurt Stock Exchange (ISIN: DE000A35JS40, GSIN/WKN: A35JS4) and is a constituent of the MSCI World Micro Cap Index.

    Visit our website at https://cliqdigital.com/investors. Here you will find all publications and further information about CLIQ. You can also follow us on LinkedIn.

    The MIL Network –

  • MIL-OSI Africa: Hlabisa engages with business on review of White Paper on Local Government

    Source: Government of South Africa

    Hlabisa engages with business on review of White Paper on Local Government

    The Minister of Cooperative Governance and Traditional Affairs (CoGTA), Velenkosini Hlabisa, has wrapped up the fourth strategic CoGTA–National Business Initiative (NBI) Roundtable focused on reviewing the 1998 White Paper on Local Government.

    This final session took place yesterday in East London, Eastern Cape, in anticipation of the 31 July 2025 deadline for public submissions on the Discussion Document regarding the review of the White Paper.

    This Eastern Cape-focused session follows successful engagements in the Western Cape, Gauteng and KwaZulu-Natal, forming part of a broader, inclusive and participatory policy reform process under the theme: ‘Every Municipality Must Work – A Call to Collective Action’.

    “The roundtable aimed to harness practical insights from the business sector to shape a modern, fit-for-purpose local government system. 

    “In his keynote address, Minister Hlabisa emphasised the critical importance of leadership in local government, particularly regarding competence, capability, and ethical conduct,” a CoGTA statement read. 

    The talks provided the business sector with a platform to reflect on the legacy and limitations of the 1998 White Paper and identify policy priorities for a renewed local government framework. 

    Hlabisa commended the cleanliness of East London, noting that this final consultation was not a cosmetic exercise but a substantive effort to reset the vision of the 1998 White Paper. 

    He also acknowledged the current challenges facing municipalities, including rapid urbanisation, climate change, youth unemployment and declining public trust.

    “Throughout the public consultations, a consistent message has emerged from traditional leaders, business, civil society organisations, and citizens alike that every municipality must work to create a conducive environment for investment, stimulate economic activity, and ensure sustainable service delivery matched by payment for services.” 

    The Minister further reflected on the need to reposition municipalities as economic enablers through a differentiated funding regime, overseen by a competent and accountable leadership. 

    He also stressed the importance of streamlining regulatory frameworks to enable climate-resilient planning, budgeting, and infrastructure development – guided by investment foresight and institutionalised collaborative partnerships beyond the review process.

    “In conclusion, the Minister committed to requesting the establishment of a dedicated unit within the South African Police Service (SAPS) to combat corruption in local government, noting that eliminating corruption is essential to achieving effective governance,” CoGTA said.

    The Minister was joined by the Executive Mayor of Buffalo City Metro, Princess Faku, who welcomed the timely review, highlighting the complex challenges municipalities face and the need for tailored collaborations with business to address capacity constraints and stimulate local economic development.

    The CEO of NBI, Shameela Soobramoney, described the engagement as a pivotal moment to shape sustainable and inclusive local government systems. 

    She emphasised the need for the evolution of Integrated Development Plans (IDPs) into investment prospectuses – bankable project portfolios that can drive meaningful change.

    “Efficient local government is essential for economic growth and business sustainability. This roundtable offered business leaders a strategic platform to influence policies that reduce investment risk and foster a more conducive business environment.” – SAnews.gov.za 
     

    Gabisile

    MIL OSI Africa –

  • MIL-OSI China: Disney to re-release ‘Zootopia’ in China ahead of sequel

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

    Disney will re-release its blockbuster animated film “Zootopia” in China in August, ahead of the highly anticipated sequel’s global debut in November, the company announced Wednesday.

    Posters for the “Zootopia” China re-release and “Zootopia 2.” [Photo courtesy of Walt Disney Animation Studios]

    “Zootopia” (2016), directed by Byron Howard, Rich Moore and Jared Bush, followed rabbit police officer Judy Hopps as she teamed up with fox Nick Wilde to investigate a conspiracy involving the disappearance of 14 predators in the animal city of Zootopia.

    The film won the Academy Award for best animated feature in 2017 and earned more than $1 billion worldwide, including 1.53 billion yuan ($236 million) in China, where it remains the top-grossing foreign animated film. The movie’s success led to a Zootopia-themed land at Shanghai Disney Resort that opened in late 2023.

    Walt Disney Animation Studios said the Chinese theatrical re-release will include a special trailer for “Zootopia 2” after the credits.

    1   2   3   >  

    MIL OSI China News –

  • MIL-OSI Europe: Anna Politkovskaya-Arman Soldin Prize for Courage in Journalism – Call for applications

    Source: Republic of France in English
    The Republic of France has issued the following statement:

    The Anna Politkovskaya-Arman Soldin Prize for Courage in Journalism will be awarded for the third time in early November 2025, to coincide with the International Day to End Impunity for Crimes Against Journalists, established in 2013 by the United Nations at France’s initiative, in memory of French journalists Ghislaine Dupont and Claude Verlon, assassinated in Mali.

    The aim of this prize is to distinguish the work of journalists and photojournalists committed to carrying out their essential role of informing people, in particular in theatres of conflict or during crises.

    Through this prize, France reaffirms its steadfast commitment to the defence of freedom of the press and pays tribute to two emblematic figures of journalistic courage, killed in the performance of their duties. First, the Russian journalist Anna Politkovskaya, whose investigations published in the Novaya Gazeta on corruption, human rights violations and the war in Chechnya cost her her life, along with six of her colleagues. Second, the Franco-Bosnian AFP journalist and photojournalist Arman Soldin, killed on 9 May 2023 in the field, whose work helped inform the entire world of the reality of Russia’s aggression against Ukraine.

    In 2024, the jury decided to recognize the work of Yuval Abraha, Israeli journalist, and Basel Adra, a Palestinian journalist, which focused on Israel’s settlements in the West Bank. Both journalists also belong to the Israeli-Palestinian collective that produced the documentary “No Other Land” last year, which won an Oscar in 2025.

    Journalists wishing to apply for the 2025 prize may submit their application to presse.dcp at diplomatie.gouv.fr using this form, until midnight on 30 August 2025: download the form (Word – 37 Ko).

    The Prize is accompanied by a lump-sum of €10,000, which must be used to finance a project carried out by the prizewinner.

    MIL OSI Europe News –

  • MIL-OSI Europe: Euro area bank interest rate statistics: June 2025

    Source: European Central Bank

    31 July 2025

    Bank interest rates for corporations

    Chart 1

    Bank interest rates on new loans to, and deposits from, euro area corporations

    (percentages per annum)

    Data for cost of borrowing and deposit interest rates for corporations (Chart 1)

    The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, decreased in June 2025. The interest rate on new loans of over €1 million with a floating rate and an initial rate fixation period of up to three months remained broadly unchanged at 3.29%. The rate on new loans of the same size with an initial rate fixation period of over three months and up to one year fell by 7 basis points to 3.41%. The interest rate on new loans of over €1 million with an initial rate fixation period of over ten years decreased by 17 basis points to 3.54%. In the case of new loans of up to €250,000 with a floating rate and an initial rate fixation period of up to three months, the average rate charged fell by 7 basis points to 3.71%.

    As regards new deposit agreements, the interest rate on deposits from corporations with an agreed maturity of up to one year fell by 12 basis points to 1.93% in June 2025. The interest rate on overnight deposits from corporations fell by 5 basis points to 0.53%.

    The interest rate on new loans to sole proprietors and unincorporated partnerships with a floating rate and an initial rate fixation period of up to one year decreased by 14 basis points to 3.97%.

    Table 1

    Bank interest rates for corporations

    i.r.f. = initial rate fixation
    * For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.

    Data for bank interest rates for corporations (Table 1)

    Bank interest rates for households

    Chart 2

    Bank interest rates on new loans to, and deposits from, euro area households

    Data for cost of borrowing and deposit interest rate for households (Chart 2)

    The composite cost-of-borrowing indicator, which combines interest rates on all loans to households for house purchase, showed no change in June 2025. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year decreased by 9 basis points to 3.61%. The rate on housing loans with an initial rate fixation period of over one and up to five years stayed almost constant at 3.41%. The interest rate on loans for house purchase with an initial rate fixation period of over five and up to ten years remained broadly unchanged at 3.47%. The rate on housing loans with an initial rate fixation period of over ten years stayed constant at 3.12%. In the same period the interest rate on new loans to households for consumption decreased by 13 basis points to 7.40%, driven by both the interest rate and the weight effects.

    As regards new deposits from households, the interest rate on deposits with an agreed maturity of up to one year decreased by 7 basis points to 1.77%. The rate on deposits redeemable at three months’ notice stayed almost constant at 1.44%. The interest rate on overnight deposits from households remained broadly unchanged at 0.27%.

    Table 2

    Bank interest rates for households

    i.r.f. = initial rate fixation
    * For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories; deposits placed by households and corporations are allocated to the household sector. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.
    ** For this instrument category, the concept of new business is extended to the whole outstanding amounts and therefore the business volumes are not comparable with those of the other categories. Outstanding amounts data are derived from the ECB’s monetary financial institutions balance sheet statistics.

    Data for bank interest rates for households (Table 2)

    Further information

    The data in Tables 1 and 2 can be visualised for individual euro area countries on the bank interest rate statistics dashboard. Additionally, tables containing further breakdowns of bank interest rate statistics, including the composite cost-of-borrowing indicators for all euro area countries, are available from the ECB Data Portal. The full set of bank interest rate statistics for both the euro area and individual countries can be downloaded from ECB Data Portal. More information, including the release calendar, is available under “Bank interest rates” in the statistics section of the ECB’s website.

    For media queries, please contact Nicos Keranis, tel.: +49 69 1344 7806

    Notes:

    • In this press release “corporations” refers to non-financial corporations (sector S.11 in the European System of Accounts 2010, or ESA 2010), “households” refers to households and non-profit institutions serving households (ESA 2010 sectors S.14 and S.15) and “banks” refers to monetary financial institutions except central banks and money market funds (ESA 2010 sector S.122).
    • The composite cost-of-borrowing indicators are described in the article entitled “Assessing the retail bank interest rate pass-through in the euro area at times of financial fragmentation” in the August 2013 issue of the ECB’s Monthly Bulletin (see Box 1). For these indicators, a weighting scheme based on the 24-month moving averages of new business volumes has been applied, in order to filter out excessive monthly volatility. For this reason the developments in the composite cost of borrowing indicators in both tables cannot be explained by the month-on-month changes in the displayed subcomponents. Furthermore, the table on bank interest rates for corporations presents a subset of the series used in the calculation of the cost of borrowing indicator.
    • Interest rates on new business are weighted by the size of the individual agreements. This is done both by the reporting agents and when the national and euro area averages are computed. Thus changes in average euro area interest rates for new business reflect, in addition to changes in interest rates, changes in the weights of individual countries’ new business for the instrument categories concerned. The “interest rate effect” and the “weight effect” presented in this press release are derived from the Bennet index, which allows month-on-month developments in euro area aggregate rates resulting from changes in individual country rates (the “interest rate effect”) to be disentangled from those caused by changes in the weights of individual countries’ contributions (the “weight effect”). Owing to rounding, the combined “interest rate effect” and the “weight effect” may not add up to the month-on-month developments in euro area aggregate rates.
    • In addition to monthly euro area bank interest rate statistics for June 2025, this press release incorporates revisions to data for previous periods. Hyperlinks in the main body of the press release lead to data that may change with subsequent releases as a result of revisions. Unless otherwise indicated, these euro area statistics cover the EU Member States that had adopted the euro at the time to which the data relate.
    • As of reference period December 2014, the sector classification applied to bank interest rates statistics is based on the European System of Accounts 2010 (ESA 2010). In accordance with the ESA 2010 classification and as opposed to ESA 95, the non-financial corporations sector (S.11) now excludes holding companies not engaged in management and similar captive financial institutions.

    MIL OSI Europe News –

  • MIL-OSI: The recording of Artea Bank Investor Conference Webinar of introducing the financial results for 6M 2025

    Source: GlobeNewswire (MIL-OSI)

    During the Investor Conference Webinar by Vytautas Sinius, CEO and Tomas Varenbergas, Head of Investment Management Division introduced the Bank’s financial results for 6M 2025 and recent developments and answered the participant questions afterwards.

    The recording of it can be found on Nasdaq youtube channel there.

    Presentation and the recording of webinar are also posted on the Bank’s website https://www.artea.lt/en/investors

    Artea Bank thanks all participants.

    If you would like to receive Artea Bank news for investors directly to your inbox, subscribe to our newsletter.

    Additional information:

    Tomas Varenbergas

    Head of Investment Management Division

    tomas.varenbergas@artea.lt , +370 610 44447

    The MIL Network –

  • MIL-OSI: MEXC Concludes Golden Era Showdown with 350,000 USDT Gold Bar Awarded in Europe

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, July 31, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, held an offline awards ceremony in Europe to thank users for their enthusiastic participation in its Golden Era Showdown mid-year trading event. MEXC presented the 100-ounce gold bar grand prize, valued at 350,000 USDT, to the lucky winner.

    The Golden Era Showdown attracted over 200,000 participants and unlocked a 4 million USDT prize pool during its three-week run. The event generated 376,908 daily scratch card chances, 16,635 weekly lucky draw chances, and 5,666 lucky lottery tickets.

    Notably, the event’s grand prize utilized an innovative Bitcoin blockchain hash methodology to ensure complete transparency and fairness. The ultimate lottery was determined by the last 5 digits of the first Bitcoin block hash generated after 12:00:00 UTC on July 4, 2025. The winning number was 70270, with winners selected by closest match. The 100-ounce gold bar (valued at 350,000 USDT) corresponded to lottery number 00270, while the 1 BTC prize (valued at approximately 110,000 USDT) was awarded to lottery number 05270.

    Other major winners included 0.5 BTC (valued at approximately 55,000 USDT), lottery number 04270; 0.3 BTC (valued at approximately 33,000 USDT), lottery number 03270; and 0.1 BTC (valued at approximately 11,000 USDT), lottery number 02270. Additionally, detailed information about Expert Prize, Weekly Surprises, and Daily Prize winners can be found on the MEXC official website.

    At the awards ceremony, winner Soufyan shared his initial reaction to the notification. “When I first got the notification, I couldn’t believe it was real. I kept double-checking until I confirmed it was actually me,” he said.

    Soufyan has been using MEXC for about 1.5 years. Initially, he decided to switch to MEXC after hearing many positive reviews about its competitive low fees, frequent events, and generous user rewards. “Since I started using MEXC, I’ve barely used other platforms.” Soufyan explained. When asked for advice to new investors, he suggested avoiding emotional trading and excessive leverage. He also expressed optimism about AI sector tokens this year, emphasizing those with real-world applications rather than speculative projects.

    The success of Golden Era Showdown underscores MEXC’s philosophy of putting users first through generous rewards and cutting-edge transparency measures. The event’s record-breaking participation reflects the strong trust users place in the platform, while the seamless prize distribution demonstrates MEXC’s commitment to empowering users and delivering on its promises.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

    Photo accompanying this announcement is available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/cfdfb0e3-512a-469c-ae51-b861528a2632

    The MIL Network –

  • MIL-OSI Economics: Underwriting Auction for sale of Government Securities for ₹32,000 crore on August 01, 2025

    Source: Reserve Bank of India

    Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on August 01, 2025 (Friday).

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

    (₹ crore)
    Security Notified Amount  MUC amount per PD Minimum bidding commitment per PD under ACU auction
    6.68% GS 2040 16,000 381 381
    6.90% GS 2065 16,000 381 381

    The underwriting auction will be conducted through multiple price-based method on August 01, 2025 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E-Kuber) System between 09:00 A.M. and 09:30 A.M. on the day of underwriting auction.

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

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/813

    MIL OSI Economics –

  • MIL-OSI Africa: Petrofund Launches Flagship Scholarship to Empower Namibian Youth in Oil and Gas

    Source: APO

    Namibia’s Petroleum Training and Education Fund (Petrofund) officially launched its flagship scholarship program during the 2nd Youth in Oil and Gas Summit, reinforcing its commitment to building a highly skilled national workforce for the country’s burgeoning oil and gas sector. The new scholarship complements the Namibian government’s free tertiary education policy by fully funding undergraduate and postgraduate students in engineering, geosciences, paramedics and technical vocational training disciplines relevant to upstream oil and gas operations. Courses will be offered at accredited institutions across the Southern African Development Community region and internationally.

    As the voice of the African energy sector, the African Energy Chamber (AEC) commends Petrofund’s leadership and forward-thinking strategy to anchor Namibian youth at the core of the country’s growing energy economy. With major discoveries in the Orange Basin and increasing momentum towards first oil, initiatives like this are essential to ensure local capacity meets international operational standards.

    In addition to its flagship scholarship program, Petrofund has introduced several strategic initiatives to accelerate youth integration into Namibia’s oil and gas industry. Through its expanded on-the-job training program, more than 82 young professionals have been deployed across various technical roles in collaboration with premier service and operating companies including TechnipFMC, SBM, Subsea 7, Baker Hughes, Halliburton, SLB, BW Energy, Shell, ReconAfrica, TotalEnergies and QatarEnergy. Petrofund has also signed ten memoranda of understanding to deepen these partnerships and enhance practical industry exposure. Additionally, the government-led fund is developing a national oil and gas CV repository – set to launch in Q4 2025 – to bridge the gap between skilled graduates and industry demand.

    Petrofund is also strengthening its collaboration with Namibian institutions of higher learning. Partners include the Namibia University of Science and Technology and University of Namibia, along with regulatory authorities such as the Namibia Qualifications Authority; National Council for Higher Education; Namibia Training Authority; and Ministry of Education, Innovation, Youth, Sports, Art and Culture. This initiative aims to introduce and accredit more oil and gas-related programs locally, enhancing access to technical education aligned with global industry standards. To date, Petrofund has invested over N$115 million to support 438 Namibians in petroleum-related studies, achieving a 90% internship and employment placement rate for its Master’s level beneficiaries.

    As Namibia progresses towards final investment decisions for high-impact offshore projects led by operators such as TotalEnergies and Shell, this program ensure that Namibians are equipped with the technical expertise to actively participate and lead in-country value creation. Imminent first production means Petrofund’s holistic approach to human capital development can align with the country’s Local Content Policy and sets the foundation for long-term, inclusive growth. The AEC supports these efforts as a model for Africa’s youth empowerment in energy.

    “Petrofund is setting the standard for what youth empowerment in Africa’s energy sector should look like. By aligning skills development with industry demand and embracing inclusivity, Namibia is not just preparing its young people for jobs – it’s preparing them for leadership. The Chamber fully supports these efforts, which will ensure that Namibians are not just bystanders, but key drivers of their energy future,” states NJ Ayuk, Executive Chairman, AEC.

    Distributed by APO Group on behalf of African Energy Chamber.

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI Africa: Op-Ed: Financing Energy Access in Africa: Leveraging Fossil Fuel Revenues to End Energy Poverty

    Source: APO

    NJ Ayuk, Executive Chairman of the African Energy Chamber
     

    In an emissions-focused world, do oil and gas revenues have a role to play in ending energy poverty in Africa? It may sound counterintuitive, but many would argue that they do, albeit as enablers of a future powered by alternative energy sources.  

    The key lies in recognizing that Africa’s situation is unique, and solutions take time, building on what we have and what we can do with it. This means that, in working towards a just energy transition, the continent’s oil and gas resources shouldn’t be viewed as obstacles that need to be immediately replaced by renewable energy sources. Instead, rather than prematurely phasing out fossil fuels in response to global pressure, Africa should harness these revenues responsibly to finance its energy transition and ultimately eradicate energy poverty. 

    Prioritizing Development Alongside Sustainability 

    Nearly 600 million Africans still live without access to electricity (https://apo-opa.co/3IV6Rd8). This access is a fundamental human right, yet energy poverty remains one of the continent’s most significant barriers to development. This undermines health systems, education, industrialization, and dignity. As the world debates how to rapidly achieve net-zero, Africa’s priority is different: how to power its people now, while building a sustainable future. 

    Measuring Africa’s energy transition progress against external calls for an abrupt end to fossil fuels risks leaving millions behind. Our continent contributes less than 4% (https://apo-opa.co/40Ilfvu) to global emissions, yet we are expected to decarbonize at the same pace as industrialized nations that built their wealth on hydrocarbons. 

    Instead, the continent’s abundance of fossil fuels should be viewed as a bridge, not a barrier. The African Energy Chamber (AEC) Africa-Paris Declaration (https://apo-opa.co/4l4JTO2) underscores this principle – Africa’s oil and gas revenues can and must be used as a financial lever to invest in electrification, clean energy, and infrastructure projects. This pragmatic and just approach prioritizes development alongside sustainability, not instead of.  

    There are several ways to achieve this. First, reinvesting oil and gas revenues into rural electrification can transform communities. Decentralized solutions like off-grid solar and mini-grids offer practical ways to reach remote areas. Although urban dwellers do experience power outages, for many rural populations, it’s a way of life. For the mother cooking with firewood or the student studying by candlelight, a small solar grid is life-changing. Fossil fuel revenues can finance these systems at scale, bridging the immediate access gap while longer-term grid expansions are in progress.  

    Second, establishing innovative financing mechanisms is essential. For instance, the fledgling Africa Energy Bank (https://apo-opa.co/4laFrh1) aims to bridge the continent’s estimated $31 billion to $50 billion annual energy funding gap by focusing predominantly on financing energy projects. Launched in 2025, the bank is poised to play a transformative role in mobilizing capital for African energy projects. Additionally, global investors are increasingly exploring energy investment opportunities in Africa. In support of this, development finance institutions, such as the African Development Bank, the World Bank, and the International Finance Corporation, are de-risking investments by offering concessional loans, guarantees, and technical assistance, making investment in African energy projects more attractive.  

    Third, policy reforms that create enabling environments are critical. Here, governments have a role to play in prioritizing revenue-generating projects, creating stable regulatory frameworks, and offering incentives for public-private partnerships. This will support investment, reduce risks, and unlock the transformative power of energy access. 

    These solutions demonstrate the importance of a fair and equitable transition and the vital role that fossil fuels will continue to play in achieving this goal. They also prove that this goal is achievable, even if it is on the continent’s own terms. 

    Unique Solutions to Africa’s Energy Challenges 

    Africa’s path to net-zero has the same end goal as the rest of the world, but it can’t mirror their journey. Our starting points are different, and our development needs are urgent. We understand that climate action can’t be delayed. But it can be just, inclusive, and rooted in African realities. And it can also be supported by revenues from our abundant natural resources.   

    The Africa-Paris Declaration notes that ‘a fair transition recognizes that fossil fuels remain valuable for Africa’s development, prosperity, and energy access goals. Africa doesn’t need to choose between oil and gas or renewables. Given our current position, all are important and require both strategic and sensible deployment. Fossil fuels generate the revenues to invest in solar, wind, hydropower, and grid infrastructure. They fuel industries that create jobs. They support healthcare, education, and innovation. 

    When managed responsibly, Africa’s fossil fuel revenue can serve as a bridge to a brighter, greener, and more prosperous continent. Will it be quick and easy? No. Will some question the approach? Most certainly. But the alternative is leaving hundreds of millions of people in the dark. 

    Distributed by APO Group on behalf of TotalEnergies.

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    MIL OSI Africa –

  • MIL-OSI Africa: 5 Reasons to Consider Payroll Outsourcing

    Source: APO

    Accurate and timely payroll impacts costs, tax compliance, and employee morale. Many organisations assume that insourced payroll is inherently superior. Yet in today’s dynamic business environment, this assumption can be more costly. It can burden valuable personnel, increase compliance risks, and saddle organisations with expensive, yet obsolete, software.

    Workplaces are becoming more complex through a wide variety of employment conditions, frequent regulation changes, and growth risks (especially when operating in multiple regions). Payroll systems don’t always keep up, which is why over a third of companies are dissatisfied with their internal payroll systems (http://apo-opa.co/45tJ0Ko).

    “The importance of accurate and timely payroll is undeniable. But assuming that insourcing payroll is inherently superior misses the mark. In today’s dynamic business environment, clinging to outdated internal systems is costly, diverts valuable personnel, and complicates software management,” says Heinrich Swanepoel, Head of Business Development at Deel Local Payroll, powered by PaySpace.

    Outsourced payroll’s strategic advantages

    Outsourcing payroll is a strategic move that adds scale and flexibility to an organisation’s operations. Whether it’s for five or five thousand employees, one office or multiple countries, using an experienced and technologically capable outsourced payroll provider creates crucial advantages in workforce management and adaptability.

    Here are five key reasons why payroll outsourcing is a game-changer:

    1. Remove Legacy System Limitations and Costs: Outdated payroll software an expose you to delays, errors, and fragmented workflows. Outsourcing with modern technology provides flexibility. Providers can efficiently handle payroll tasks regardless of onboarding surges, market expansions, or workforce adjustments.
    1. Empower Staff for Higher-Impact Work: Outsourced experts add knowledge, coupled with payroll automation, secure collaboration tools, data integration, and enhanced financial visibility. They help key personnel in payroll, HR, and finance to focus on strategic, high-value priorities.
    1. Navigate Payroll Compliance: Outsourcing specialists make it their business to know local and international tax rules, labour laws, and data regulations. They use software with built-in compliance checks, audit trails, and secure document tracking. The provider shares and even inherits the responsibility of payroll software compliance such as GDPR, POPIA, SOC 1 & 2, and ISO 27001.
    1. Flexible payroll management: Outsourced payroll providers use scalable and flexible software to align with organisational changes, enabling their clients to adapt without reconfiguring payroll departments with restructuring or new hires.
    1. Access Advanced Features: Keeping up with new features and aligning them with operations is expensive and disruptive. Outsourced payroll providers introduce cutting-edge technologies like cloud computing, artificial intelligence, and data analytics as part of their core business strategies. They offer seamless integration with client business systems for real-time, fully compliant payroll operations that the client controls without adding technical risks.

    Evaluating an outsourced payroll partner

    Outsourcing payroll creates huge advantages. But not all outsourced payroll providers are the same. The best candidates combine human expertise with the advantages of modern cloud-native payroll platforms.

    To evaluate a provider, test their payroll expertise and compliance knowledge. Security and data protection are non-negotiable, and assess their track record with other clients. Look at what software they use—the capabilities of the software and how well their people can use those features are as important as the staff’s professional capabilities. Are they masters of their tools as well as their craft?

    Interrogate their service levels and how they extend capabilities to clients, such as self-service and ad hoc reporting. Evaluate the technology platform in terms of real-time data access, automated calculations, integration with HR and accounting tools, and compliance.

    “Outsourcing payroll isn’t just about saving time — it’s a strategic move that positions your business for growth, compliance, and agility,” says Swanepoel. “With the right partner, you can reduce costs, streamline operations, and focus your energy where it matters most: on your people and your business.”

    Distributed by APO Group on behalf of Deel Local Payroll, powered by PaySpace.

    For media queries please contact:
    Victoria Lindsay:
    victoria@innocomm.co.za.

    About Deel Local Payroll:
    Deel Local Payroll, powered by PaySpace (www.PaySpace.com), revolutionises payroll management. It offers online, multi-country payroll and HR management for businesses from start-ups through to enterprise in over 40 African countries, the United Kingdom, the Middle East, and Brazil.

    Cloud-native, Deel Local Payroll, is scalable, configurable, highly secure, and easy-to-use—delivering anytime, anywhere access. It features payroll automation, self-service features, automatic legislation and feature updates, customised reporting, and more.

    Since 2024, Deel Local Payroll has been part of Deel, operating as an independent subsidiary, serving its customers through the PaySpace platform. 

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    MIL OSI Africa –

  • MIL-OSI Africa: Bold Sports marks major digital milestone during Super Falcons’ Women’s Africa Cup of Nations (WAFCON) 2024 victory

    Source: APO

    Bold Sports (www.BoldSportsng.com), Nigeria’s emerging digital sports media platform, announced today that it recorded unprecedented audience growth across its digital platforms during the recently concluded Women’s Africa Cup of Nations (WAFCON) 2024, where the Super Falcons lifted their 10th continental title.

    From July 5 to 26, 2025, the tournament period saw Bold Sports significantly increase its reach and engagement across its digital platforms, positioning it as one of the most active and influential sports content creators in Nigeria during the championship.

    On Facebook, Bold Sports attracted over 18 million video views, with reach climbing to over 4 million users and visits increasing by around 120% to over 120,000. The engagement also rose by over 141% to 1.2 million, while the platform gained more than 65,000 new followers, bringing its total Facebook community to over 130,000 followers.

    TikTok content during the same period recorded over 1.2 million video views, with 90,000 likes, over 13,000 profile views, and a significant increase in user engagement, including comments and shares from football fans across the continent.

    The official website, www.BoldSportsng.com, crossed 20,000 page views, while the brand’s YouTube channel registered over 146,000 views, fueled largely by interactive watch-along sessions and fan commentary during matchdays.

    “The Super Falcons’ journey to a 10th WAFCON title was a historic moment for Nigerian football, and we were proud to capture it with the energy and passion it deserved,” CEO and Editor-in-Chief of Bold Sports, Tosin Oluwalowo, said. “We made a clear decision to cover the tournament from a fan-first, Nigerian perspective — and the numbers show that our audience responded powerfully to that approach.”

    “Bold Sports really came through during WAFCON,” Tolu Onigbinde, a Nigerian football fan based in Lagos said. “It wasn’t just the scores from the matches, they made us feel like part of the journey. From the behind-the-scenes stories to the fan banter and post-match reactions, it felt fresh. I followed everything through them.”

    Chief Operating Officer and Managing Editor, Kelvin Ekerete, added: “What we’ve seen in the past few weeks validates our belief that Nigerian fans want relatable, and quality content. Our team worked tirelessly across formats and the audience stayed with us every step of the way.”

    The Super Falcons sealed their historic title win by defeating host nation Morocco 1–0 in the final played in Casablanca. The victory also marked the successful achievement of the Nigeria Football Federation’s “Mission X” campaign, which was launched prior to the tournament with the goal of winning Nigeria’s 10th WAFCON crown

    Throughout the tournament, Bold Sports delivered dynamic coverage, including pre-match previews, behind-the-scenes, player features, match reactions, and engaging social commentary that resonated deeply with fans in Nigeria and across Africa.

    The growth achieved during WAFCON 2024 highlights Bold Sports’ rising status as a trusted voice in Nigerian sports media, and underlines the company’s mission to tell Nigerian sports stories through a proudly local, digital-first lens.

    Distributed by APO Group on behalf of Bold Sports.

    Media Contact:
    admin@boldsportsng.com

    Follow Us:
    Instagram: https://apo-opa.co/44Udy7Z
    Facebook: https://apo-opa.co/45hZV1v
    X: https://apo-opa.co/3UFg4ZG
    TikTok: https://apo-opa.co/3IRIxJi

    About Bold Sports:
    Bold Sports, published by Bold Media Innovations & Creative Hub Limited, is Nigeria’s leading digital sports media platform, providing high-quality, data-driven coverage of Nigerian athletes at home and abroad. Through video, storytelling, and real-time engagement, Bold Sports connects a passionate community of fans with the moments that matter — from grassroots to global competitions.

    With a bold, multimedia-first approach, we celebrate Nigeria’s sporting excellence and foster national pride across generations and geographies.

    Motto: Boldly Nigerian. Passionately Sporty.

    Website: www.BoldSportsng.com

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    MIL OSI Africa –

  • MIL-OSI China: Chinese products deliver cool comforts to world amid heatwaves

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

    As global temperatures hit record highs and heatwaves blanket most of the Northern Hemisphere, Chinese manufacturers are stepping up with innovative cooling solutions, from advanced textiles to smart gadgets, to meet surging global demand for heat relief.

    At a new material technology company in east China’s Zhejiang Province, a batch of cooling fabric rolled off the production line and was then neatly packaged before being loaded into 18 containers for export.

    Measuring approximately 4 million meters in length, this load of fabric, valued at more than 7 million yuan (roughly 980,000 U.S. dollars), will be sold to markets in the Middle East, Europe and North America.

    Since 2021, this cool-touch material has driven average annual sales growth of about 25 percent for its manufacturer Yibei, a company based in the city of Huzhou in northern Zhejiang, while delivering heat-relief solutions to consumers worldwide, said Zhu Yifan, general manager of Yibei.

    Originally designed as a garment lining, this material’s affordability and skin-friendly comfort have fueled unexpected demand for it as a primary fabric, especially after the 2022 FIFA World Cup in Qatar, when it gained viral traction in countries like Türkiye, Egypt, Iran and the United Arab Emirates to make scarves and robes.

    The EU-funded Copernicus Climate Change Service has confirmed the year 2024, recording a global average temperature of 15.1 degrees Celsius, as the warmest year globally since 1850, and June 2025 as the world’s third-warmest June on record, reaching 16.46 degrees Celsius globally.

    Amid the global warming trend, Chinese textile manufacturers like Yibei are innovating their products and scaling production to satisfy surging demand for cooling products.

    On JD.com, a major Chinese e-commerce platform, searches for “cool touch” products reveal nearly 20 cooling items, including towels, bedsheets and pillows. The best-selling cooling towel has surpassed 4 million orders, with its inner layer containing menthol and other active cooling ingredients that release long-lasting coolness when exposed to water.

    “With intensifying global climate change and consumers’ increasing pursuit of quality of life, the demand for cooling products has prompted companies to explore different materials, techniques and functional cooling products,” said Dai Junming, an industrial expert of the modern textile technology innovation center of Zhejiang.

    A leading province in China’s textile industry, Zhejiang exported textiles and apparel worth 92 billion U.S. dollars in 2024, accounting for more than 30 percent of the country’s total.

    The cooling boom is not limited to textiles. Data from Alibaba.com, the cross-border B2B platform of China’s e-commerce giant Alibaba, show that portable mini fans, mobile air conditioners, ice makers, double-door refrigerators and freezers have emerged as popular purchased categories over the past month — with sales surging nearly 77 percent and orders increasing by 56 percent year on year.

    Before Father’s Day this year, a U.S. content creator recommended a hat as a gift in her short video on TikTok, amassing over 9 million views and sparking a buying frenzy.

    The star of the video — a sun hat designed with two solar-powered fans aimed at delivering a cool summer experience — hails from the city of Yiwu, also in Zhejiang, which is renowned as a small commodity hub that trades with over 230 countries and regions.

    At Zhejiang Senwai Garments Co., Ltd., which holds the patent for this fan hat’s production and R&D, General Manager Jiang Yongtao revealed that the hat, priced at almost 40 U.S. dollars, began test-marketing in March before surging to popularity two months later.

    Within just 28 days of its official launch, 11,100 units were sold, generating over 3.2 million yuan in revenue. To date, the company has sold some 500,000 units of these fan hats.

    “The hat provides both shade and cooling relief,” Jiang said, noting that the miniature fans can also be charged by USB on cloudy days.

    The company is also developing a winter version — a heated cap intended to transform headwear from mere accessories to therapeutic tools, thereby extending the reach of this “made-in-China” phenomenon beyond summer.

    “Hit products may become outdated, but the ability to consistently identify needs and create bestsellers never will,” Jiang said. 

    MIL OSI China News –

  • MIL-OSI United Kingdom: Exciting new future for waterfront location

    Source: City of Plymouth

    One of the Plymouth’s waterfront locations is set for an exciting future thanks to a long-term agreement with Cattewater Harbour Commissioners.

    A 30-year lease on Commercial Wharf on Madeira Road is to be granted to the commissioners who want to invest, improve and manage the location, to continue to grow the visitor economy of marine visitors to our city from the water.

    The wharf is already home to 19 boathouses, which are used for a variety of commercial purposes, including marine, storage and leisure. The site includes the quay wall, a 17th century quay from the Mayflower Steps to a public access slipway as well as a public open space.

    The commissioner’s plan is to make the area a destination in itself, to create a more welcoming feel to this historic wharf, to attract more tourists, events, visitors and marine tourism including cruise, tall ships, superyacht and leisure passengers embarking or disembarking from the nearby Barbican Landing Stage, and visitor moorings.

    Cattewater Harbour Commissioners (CHC) took back ownership and responsibility for managing and maintaining the Barbican Landing Stage from the Council in early 2023 – a decision that not only saved the Council future maintenance costs, but meant that, CHC, as the Statutory Harbour Authority, had better access to resources and expertise to maintain the safe operation of the facility.

    Council leader Tudor Evans said: “We constantly review all our assets and as we have said before, try to find creative solutions for some of our properties that can unlock jobs, opportunities and prospects – and this certainly hits the mark.

    “It just makes sense for the wider good of the city. We do not have the resources or the expertise to carry out repairs to the sea wall – they do.

    “We still retain the long-term interest in the wharf, but this deal will allow the commissioners to create something special and look after this landmark using the expertise they have on tap. I can’t wait to see what they do!”

    Captain Richard Allan, CEO and Harbour Master, Cattewater Harbour Commissioners: “As we continue to grow the number of visiting leisure vessels to the Port, and invest in nearby facilities including toilets and showers, it’s a logical next step that we take on the lease of the wharf.

    “We have thousands of visitors who’s first experience of Plymouth is coming ashore at Commercial Wharf, we want to make this experience better, and we’re looking forward to ensuring the site provides one of the best step off points in the South West.”

    Cattewater Harbour is a trust port, an independent statutory body. There are no shareholders, or owners, and any surplus generated is reinvested into the port for the benefit of its stakeholders.

    Since April 2020, the Council’s Facilities Management have spent over £400,000 including over £300,000 on capital repairs to the sea wall. Significant capital expenditure, major repair and maintenance issues remain.

    As part of the tenancy agreement CHC will ensure the wharf remains in good repair – including structures, surfaces and sea walls. They will also be responsible for keeping the public spaces neat and tidy and have agreed to invest in critical maintenance and improvements to the site.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Russia’s Aeroflot Stabilizes Flight Schedule After IT Systems Failure

    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

    Moscow, July 30 /Xinhua/ — Russian airline Aeroflot has fully stabilized its flight schedule after a major failure in its information systems, the company’s press service reported on Wednesday.

    On Tuesday, Aeroflot operated all 216 scheduled paired flights departing from Moscow and all 73 flights of the regional program. The airline’s official website and booking system are working correctly.

    On July 28, Aeroflot reported that there had been a failure in the company’s IT infrastructure, and dozens of flights had been cancelled. According to the Russian Prosecutor General’s Office, the failure was caused by a hacker attack, and a criminal case has been opened for unauthorized access to computer information. –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.

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    MIL OSI Russia News –

  • MIL-OSI Russia: The Central Bank of Georgia has raised its economic growth forecast for 2025 to 7.4 percent.

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Tbilisi, July 30 /Xinhua/ — The National Bank of Georgia (Central Bank) has revised upward its economic growth forecast for 2025 from 6.7 percent to 7.4 percent. The new forecast also exceeds the figure set in the state budget, where economic growth for 2025 is estimated at 6 percent, the National Bank of Georgia reported on Wednesday.

    According to the regulator’s statement, the key factors in the forecast increase were high economic activity and improved production potential, which helps to neutralize inflationary pressure caused by stable domestic demand.

    According to preliminary data, economic growth in Georgia amounted to 8.8 percent in the period from January to May 2025, which significantly exceeds the annual average.

    In addition, the National Bank predicts that in 2025 the average inflation in the country will be 3.8 percent. The decision of the Central Bank’s Monetary Policy Committee indicates that this year the inflation target will remain above 3 percent, although in the future it is expected to approach 3 percent.

    On Wednesday, the National Bank of Georgia decided to keep the refinancing rate at 8 percent. The regulator noted that keeping the rate unchanged is advisable against the backdrop of inflation rising to 4 percent in June. –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.

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    MIL OSI Russia News –

  • MIL-OSI Russia: Chinese Commerce Minister Meets US-China Business Council Delegation

    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

    BEIJING, July 30 (Xinhua) — Chinese Commerce Minister Wang Wentao met with a U.S. delegation led by Raj Subramaniam, chairman of the U.S.-China Business Council, in Beijing on Wednesday.

    The parties exchanged views on issues of Chinese-American trade and economic relations, as well as on issues of developing enterprises with American capital in China.

    Despite ups and downs, China and the United States remain important economic and trade partners for each other, Wang Wentao said. He stressed that severing ties and decoupling supply chains will not bring the desired result, and that equal dialogue and consultation are the key to resolving differences.

    As Wang Wentao recalled, under the leadership of the heads of the two states, the countries reached consensus in the trade and economic sphere in Geneva and a framework agreement in London, and in recent days, the teams of the two sides held talks in Stockholm.

    The Chinese Commerce Minister expressed hope that the United States will work with China to maintain stable, healthy and sustainable development of trade and economic relations.

    Opening up is a fundamental national policy of China, and the country’s doors will only open wider, Wang Wentao promised, adding that China’s policy on using foreign investment has not changed and will not change.

    He noted that China’s consumer market remains one of the largest in the world, with huge growth potential and innovative vitality. The minister said China welcomes enterprises from all countries, including American-funded companies, to invest in China and share its development opportunities.

    As R. Subramaniam noted in turn, the US-China Business Council is pleased to see that the trade and economic teams of the two countries are maintaining dialogue and achieving positive results.

    China has sent a positive signal to the world that it will continue to deepen reforms and remain committed to opening up, and this has boosted market confidence, he said.

    The US-China Business Council and its member companies are committed to long-term development in China and intend to play a constructive role in expanding bilateral trade and economic cooperation, R. Subramaniam emphasized. –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.

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    MIL OSI Russia News –

  • MIL-OSI Russia: Pakistan Deal Completed – D. Trump

    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

    NEW YORK, July 30 (Xinhua) — U.S. President Donald Trump said on Wednesday that the United States and Pakistan have reached an agreement that includes bilateral cooperation in developing Pakistan’s oil reserves.

    “We just made a deal with Pakistan where Pakistan and the United States will work together to develop their vast oil reserves,” Trump wrote on social media. “We are in the process of selecting an oil company to lead this partnership.”

    So far, the US and Pakistani governments have not released official statements about the deal. –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.

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    MIL OSI Russia News –

  • MIL-OSI Russia: Chinese automaker Dongfeng launches nine new models in Egypt

    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

    CAIRO, July 31 (Xinhua) — Chinese automaker Dongfeng launched nine new models in the Egyptian market on Wednesday.

    The launch ceremony, which took place at the Cairo International Exhibition Centre, showcased a diverse lineup of models, including the MAGE ICE compact SUV, SHINE ICE sedan, and a range of electric and hybrid vehicles: DONGFENG BOX, DONGFENG 007, MAGE EV, VOYAH FREE, VOYAH DREAM, VOYAH PASSION and MHERO 917.

    Liao Qingli, the company’s general manager for the African market, said the new vehicles for the Egyptian market reflect Dongfeng’s advanced engineering technology and innovation, as well as the company’s commitment to meeting the growing needs of Egyptian consumers, adding that the company will open a regional office in Africa and an auto parts warehouse in Egypt.

    According to the company, Dongfeng has more than 50 years of experience in automobile manufacturing, and its overseas business covers more than 100 countries and regions in Asia, Africa, South America and Europe. –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.

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    MIL OSI Russia News –

  • MIL-OSI Russia: The National Bank of Belarus expects to intensify cooperation with the UAE in the banking sector

    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

    MINSK, July 31 /Xinhua/ — Chairman of the Board of the National Bank of Belarus Roman Golovchenko and Ambassador Extraordinary and Plenipotentiary of the UAE to Belarus Ibrahim Salim Mohamed Al-Musharrah held a meeting in Minsk on Wednesday. The parties discussed promising areas for the development of bilateral relations, including in the banking sector. The relevant information was published by the press service of the National Bank of Belarus on the same day.

    During the meeting, R. Golovchenko noted that at the end of June 2025, an agreement was signed in Minsk between the governments of Belarus and the United Arab Emirates on trade in services and investment, and an agreement on economic partnership between the Eurasian Economic Union and its member states on the one hand, and the UAE on the other. After these agreements come into force, the UAE will become the first foreign country with which Belarus simultaneously creates both a free trade zone for goods and a free trade zone for services.

    Also, according to R. Golovchenko, the National Bank of Belarus expects to intensify the entire range of bilateral relations with the UAE with the understanding that both countries have no issues that cannot be resolved. –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.

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    MIL OSI Russia News –

  • MIL-OSI Russia: Chinese carmaker Chery launches five new models in Egypt

    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

    CAIRO, July 31 (Xinhua) — Chinese automaker Chery has unveiled five new models as part of its strategy to expand its presence in the Egyptian market.

    At an event held earlier this week at Abdin Palace, the carmaker unveiled the Arrizo 5 FL, Arrizo 8, Tiggo 7 Pro Max, Tiggo 8 Pro Max and Tiggo 9 PHEV.

    Shen Xiantian, CEO of Chery Egypt, said the carmaker will accelerate the transition to hybrid and smart vehicle technologies and work with global partners and suppliers to build a global sales, service and production network.

    “We are currently establishing eight R&D centers, 10 manufacturing plants and parts distribution centers in key regions around the world,” Shen Xiantian said, adding that the automaker will “strengthen local partnerships to meet the needs of regional end users and partners.”

    According to the company, Chery will sell more than 580,000 new energy vehicles in 2024, up 232.7 percent year-on-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.

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    MIL OSI Russia News –

  • MIL-OSI Russia: The Ministry of Economic Development supported the Kaliningrad Region’s application for the construction of the Belaya Dune resort

    Translation. Region: Russian Federal

    Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

    An important disclaimer is at the bottom of this article.

    On July 28–29, Deputy Minister of Economic Development of Russia Svyatoslav Sorokin visited the Kaliningrad Region on a working visit. One of the key topics was the development of infrastructure on the Baltic Sea coast. The Ministry of Economic Development gave a positive opinion on the region’s application to build the Belaya Dune resort — the project can receive preferential financing through the mechanism of treasury infrastructure loans.

    The resort “White Dune” near the village of Yantarny has been applied for funding under the national project “Tourism and Hospitality”. The application involves the construction of engineering infrastructure – access roads, electricity and gas supply systems.

    “The region is counting on treasury loans at 3% per annum for a period of 15 years. We have given a positive opinion on the application. The final decision will be made by the presidium of the government commission on regional development,” said Svyatoslav Sorokin.

    The main topic of the trip was monitoring the implementation of the state program “Socio-economic development of the Kaliningrad region”. Over 10 years, 400 billion rubles were allocated from the federal budget within the framework of the program. These funds made it possible to build more than 200 objects – from roads and hospitals to coastal protection.

    The Deputy Minister inspected the facilities in Svetlogorsk: work is underway to build an embankment and anti-landslide structures.

    “The program remains a strategic instrument for the development of the region. It is important that the authorities of the Kaliningrad Region respond flexibly to changes related to the challenges of the time, including the consequences of sanctions pressure on business. We also discussed options for solving these problems with colleagues. A comprehensive approach is needed: maximum use of various types of support from the federal budget and prompt development of regional programs where necessary. The Kaliningrad Region is already taking serious steps in this direction,” noted Svyatoslav Sorokin.

    Currently, the region has a Special Economic Zone with more than 300 residents. Companies have already invested over 300 billion rubles, creating jobs and tax returns.

    “SEZ residents produce about 40% of all goods and services in the region and provide half of the tax revenues. They are key employers and investors,” the deputy minister emphasized.

    During the visit, Svyatoslav Sorokin visited two key enterprises in the region. The Sodruzhestvo Group of Companies is a leading producer of plant protein for the feed industry, providing up to 15% of the needs of the entire feed industry in Russia. The company is one of the five largest taxpayers in the region.

    The Avtotor Group of Companies is one of the largest employers in the region, and together with related industries, it provides employment for over 30,000 people. The company is currently implementing a project to launch the production of compact electric vehicles on its own technological platform.

    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.146 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.146 [2025]

    (Open Market Operations Office, July 31, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB283.2 billion through quantity bidding at a fixed interest rate on July 31, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB283.2 billion

    RMB283.2 billion

    Date of last update Nov. 29 2018

    2025年07月31日

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Provisional statistics of retail sales for June 2025

    Source: Hong Kong Government special administrative region

         The Census and Statistics Department (C&SD) released the latest figures on retail sales today (July 31).

         The value of total retail sales in June 2025, provisionally estimated at $30.1 billion, increased by 0.7% compared with the same month in 2024. The revised estimate of the value of total retail sales in May 2025 increased by 2.4% compared with a year earlier. For the first half of 2025, it was provisionally estimated that the value of total retail sales decreased by 3.3% compared with the same period in 2024.

         Of the total retail sales value in June 2025, online sales accounted for 8.5%. The value of online retail sales in that month, provisionally estimated at $2.5 billion, increased by 8.4% compared with the same month in 2024. The revised estimate of online retail sales in May 2025 decreased by 1.2% compared with a year earlier. For the first half of 2025, it was provisionally estimated that the value of online retail sales decreased by 0.4% compared with the same period in 2024.

         After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales in June 2025 decreased by 0.3% compared with a year earlier. The revised estimate of the volume of total retail sales in May 2025 increased by 1.9% compared with a year earlier. For the first half of 2025, the provisional estimate of the total retail sales decreased by 4.7% in volume compared with the same period in 2024.

         Analysed by broad type of retail outlet in descending order of the provisional estimate of the value of sales and comparing June 2025 with June 2024, the value of sales of jewellery, watches and clocks, and valuable gifts increased by 6.8%. This was followed by sales of other consumer goods not elsewhere classified (+7.2% in value); commodities in supermarkets (+0.4%); medicines and cosmetics (+6.0%); commodities in department stores (+5.7%); and optical shops (+1.0%).

         On the other hand, the value of sales of wearing apparel decreased by 4.3% in June 2025 over a year earlier. This was followed by sales of food, alcoholic drinks and tobacco (-1.5% in value); electrical goods and other consumer durable goods not elsewhere classified (-9.3%); motor vehicles and parts (-6.0%); fuels (-8.7%); furniture and fixtures (-16.3%); footwear, allied products and other clothing accessories (-7.2%); Chinese drugs and herbs (-2.0%); and books, newspapers, stationery and gifts (-4.7%).

         Based on the seasonally adjusted series, the provisional estimate of the value of total retail sales increased by 0.3% in the second quarter of 2025 compared with the preceding quarter, while the provisional estimate of the volume of total retail sales increased by 2.7%.
     
    Commentary

         A government spokesman said that retail sales showed signs of stabilisation in recent months. The value of total retail sales increased further by 0.7% in June 2025 over the year.

         Looking ahead, the spokesman said continued increase in employment earnings, buoyant local stock market, coupled with the Government’s proactive efforts in promoting tourism and mega events and also enterprises’ strenuous effort in providing more diversified experiences would provide support to the consumption sentiment in the domestic market and businesses of the retail sector.

    Further information

         Table 1 presents the revised figures on value index and value of retail sales for all retail outlets and by broad type of retail outlet for May 2025 as well as the provisional figures for June 2025. The provisional figures on the value of retail sales for all retail outlets and by broad type of retail outlet as well as the corresponding year-on-year changes for the first half of 2025 are also shown.

         Table 2 presents the revised figures on value of online retail sales for May 2025 as well as the provisional figures for June 2025. The provisional figures on year-on-year changes for the first half of 2025 are also shown.

         Table 3 presents the revised figures on volume index of retail sales for all retail outlets and by broad type of retail outlet for May 2025 as well as the provisional figures for June 2025. The provisional figures on year-on-year changes for the first half of 2025 are also shown.

         Table 4 shows the movements of the value and volume of total retail sales in terms of the year-on-year rate of change for a month compared with the same month in the preceding year based on the original series, and in terms of the rate of change for a three-month period compared with the preceding three-month period based on the seasonally adjusted series.

         The classification of retail establishments follows the Hong Kong Standard Industrial Classification (HSIC) Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes.

         These retail sales statistics measure the sales receipts in respect of goods sold by local retail establishments and are primarily intended for gauging the short-term business performance of the local retail sector. Data on retail sales are collected from local retail establishments through the Monthly Survey of Retail Sales (MRS). Local retail establishments with and without physical shops are covered in MRS and their sales, both through conventional shops and online channels, are included in the retail sales statistics.

         The retail sales statistics cover consumer spending on goods but not on services (such as those on housing, catering, medical care and health services, transport and communication, financial services, education and entertainment) which account for over 50% of the overall consumer spending. Moreover, they include spending on goods in Hong Kong by visitors but exclude spending outside Hong Kong by Hong Kong residents. Hence they should not be regarded as indicators for measuring overall consumer spending.

         Users interested in the trend of overall consumer spending should refer to the data series of private consumption expenditure (PCE), which is a major component of the Gross Domestic Product published at quarterly intervals. Compiled from a wide range of data sources, PCE covers consumer spending on both goods (including goods purchased from all channels) and services by Hong Kong residents whether locally or abroad. Please refer to the C&SD publication “Gross Domestic Product by Expenditure Component” for more details.

         More detailed statistics are given in the “Report on Monthly Survey of Retail Sales”. Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080003&scode=530).

         Users who have enquiries about the survey results may contact the Distribution Services Statistics Section of the C&SD (Tel: 3903 7400; email: mrs@censtatd.gov.hk).

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Government’s financial results for three months ended June 30, 2025

    Source: Hong Kong Government special administrative region

    Government’s financial results for three months ended June 30, 2025 

     June 30, 2025
    HK$ millionJune 30, 2025
    HK$ millionand repayment of
    Government Bondsissuance of
    Government BondsGovernment Bonds*and repayment of
    Government BondsGovernment Debts as at June 30, 2025 (Note 3)
        HK$323,357 million
    Debts Guaranteed by Government as at June 30, 2025 (Note 4)
        HK$121,369 million

    TABLE 2. FISCAL RESERVES
     

     June 30, 2025
    HK$ millionJune 30, 2025
    HK$ millionissuance and repayment of
    Government Bonds(Note 5)Notes:

    1. This Account consolidates the General Revenue Account and the following eight Funds: Capital Works Reserve Fund, Capital Investment Fund, Civil Service Pension Reserve Fund, Disaster Relief Fund, Innovation and Technology Fund, Land Fund, Loan Fund and Lotteries Fund. It excludes the Bond Fund, the balance of which is not part of the fiscal reserves. The Bond Fund balance as at June 30, 2025, was HK$216,709 million.Issued at HKT 16:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Submissions: Masked and armed agents are arresting people on US streets as aggressive immigration enforcement ramps up

    Source: The Conversation – UK – By Dafydd Townley, Teaching Fellow in US politics and international security, University of Portsmouth

    There are masked men, and some women, on the streets in American cities, sometimes travelling in unmarked cars, often carrying weapons and wearing military-style kit. They have the power to identify, arrest, detain non-citizens and deport undocumented immigrants. They also have the right to interrogate any individual who they believe is not a citizen over their right to remain in the US.

    These are agents from US Immigration and Customs Enforcement Agency, known as Ice. This is a federal law enforcement agency, which falls under the control of the Department of Homeland Security (DHS), and is playing a significant and contentious role in the implementation of Donald Trump’s tough immigration policy.

    On the campaign trail Trump promised “the largest domestic deportation operation in American history”. And he is giving Ice more power to deliver his plans.

    Since Trump took office in January, Ice funding has been significantly increased. Trump’s “big beautiful bill”, passed by Congress in July 2025, gave Ice US$75 billion (£55 billion) of funding for the next four years, up from around US$8 billion a year.

    This funding boost will allow the agency to recruit more agents as well as adding thousands more beds plus extensions to buildings to increase the capacity of detention centres. There is also new funding for advanced surveillance tools including AI-assisted facial recognition and mobile data collection. There’s another US$30 billion going to frontline operations, covering removing immigrants and transport to detention centres.

    The president has committed to deporting everyone who is in the US illegally, that is estimated by the Wall Street Journal to be about 4% of the current US population. For the past five months, the numbers of people being picked up by Ice agents has been ticking up fast.

    Average daily arrests were up 268% to about 1,000 a day in June 2025, compared with the same month a year earlier. This was also a 42% rise on May 2025, according to data analysis from the Guardian and the Deportation Data Project. However, this is still considerably short of the 3,000 a day ordered by secretary of homeland security Kristi Noem and White House deputy chief of staff Stephen Miller.

    Ice’s tactics have already attracted significant criticism. Right-leaning broadcaster Fox News has reported on how masked agents are not showing ID or naming their agency when picking up people in raids. Other reporting has highlighted allegations that American citizens are also sometimes being swept up in the raids.

    The agency, currently led by acting director Todd M. Lyons, has three main divisions: the Enforcement and Removal Operations division, which identifies and deports undocumented immigrants as well as manages detention centres. The Homeland Security Investigations, which investigates criminal activities with an international or border nexus such as human trafficking, narcotics, and weapons smuggling. The Office of the Principal Legal Advisor provides legal advice to Ice and prosecutes immigration cases in court.

    Lyons claimed that mask wearing was necessary because of Ice agents being “doxed” – when a person’s personal information such as names and home addresses are revealed online without their permission. Assaults on Ice agents have risen, he claimed. DHS data suggested that there were 79 assaults on Ice agents from January to June 2025, compared to ten in the same period in 2024.

    Democratic House minority leader Hakeem Jeffries compared mask wearing by Ice agents to secret police forces in authoritarian regimes. “We’re not behind the Iron Curtain. This is not the 1930s.”



    Read more:
    ICE has broad power to detain and arrest noncitizens – but is still bound by constitutional limits

    The Ice agency was established in 2003 by the George W. Bush administration, partly as a result of the 9/11 terrorist attacks, and was part of a broader reorganisation of federal agencies under the then newly created DHS. It incorporated parts of the former Immigration and Naturalization Service (INS) and some elements of the US Customs Service.

    According to the agency’s website, Ice’s core mission is “to protect America through criminal investigations and enforcing immigration laws to preserve national security and public safety”.

    News coverage of Ice agents wearing masks and not identifying themselves.

    What’s changed?

    At the start of the administration in January, the White House gave Ice the authority to hasten the deportation of immigrants that had entered the country with government authorisation during the previous administration. This “expedited removal” authority allowed Ice to deport individuals without requiring an appearance before an immigration judge.

    As arrests have grown in the past months, Lyons told CBS News that Ice would detain any undocumented immigrant, even if they did not have a criminal record.

    And the Trump administration has also allowed Ice agents to make arrests at immigration courts, which had previously been off limits. This restriction was introduced by the Biden administration in 2021 to ensure witnesses, victims of crimes and defendants would still appear in court without fear of arrest for immigration violations, unless the target was a national security threat.

    Protests over Ice raids have spread across California.

    However, Lyons rescinded those restrictions in May, part of a broader shift towards aggressive enforcement.

    Much of the time, Ice has targeted illegal immigrants. But the agency has also arrested and detained some individuals who were residents (green card holders) or tourists – and, in some cases, citizens.

    In recent weeks, according to the Washington Post, Ice has been ordered to increase the number of immigrants shackled with GPS-enabled ankle monitors. This would significantly increase the number of immigrants that are under surveillance. Ankle monitors also restrict where people can travel.

    Sparking protests

    There have been numerous public protests about Ice raids, most notably in California. This peaked on June 6 after Ice had conducted numerous raids in Los Angeles, resulting in clashes between agents and protesters. This led to the White House sending around 2,000 National Guard troops and 700 Marines to Los Angeles, despite opposition from California governor Gavin Newsom.

    Part of the friction between the Trump administation and the state is that Los Angeles and San Francisco have adopted local policies to limit cooperation with federal immigration authorities including Ice. California has sanctuary laws, such as SB 54, that prohibit local police and sheriffs from assisting Ice with civil immigration enforcement.

    However, Trump shows every sign of pushing harder and faster to crack down on illegal immigrants, and Ice agents are clearly at the forefront of how he aims to do it.

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

    – ref. Masked and armed agents are arresting people on US streets as aggressive immigration enforcement ramps up – https://theconversation.com/masked-and-armed-agents-are-arresting-people-on-us-streets-as-aggressive-immigration-enforcement-ramps-up-261499

    MIL OSI –

  • MIL-OSI Europe: Results of the June 2025 Survey on credit terms and conditions in euro-denominated securities financing and OTC derivatives markets (SESFOD)

    Source: European Central Bank

    31 July 2025

    • Price and non-price credit terms and conditions remained largely unchanged between March 2025 and May 2025, tightening slightly for certain counterparty types
    • Demand for lending against collateral and financing rates/spreads increased across all asset classes except equities
    • Tariff turmoil in April 2025 had a limited but slightly negative impact on bank clients’ ability to meet margin calls

    Price and non-price credit terms and conditions remained largely unchanged between March 2025 and May 2025, with a slight tightening of non-price terms across banks and dealers, non-financial corporations and sovereigns. For price terms, survey responses indicated no net change. General market liquidity and functioning was most frequently cited as the primary driver behind tightening. Looking ahead, some survey respondents expect credit terms and conditions to ease slightly in the third quarter of 2025. However, the vast majority (86%) stated that, overall, no changes were foreseen (Chart 1).

    Chart 1

    Expected and realised quarterly changes in overall credit terms and price/non-price terms offered to counterparties across all transaction types

    (net percentages of survey respondents)

    Source: ECB.

    Note: Net percentages are calculated as the difference between the percentage of respondents reporting “tightened somewhat” or “tightened considerably” and the percentage reporting “eased somewhat” or “eased considerably”.

    Turning to financing conditions for funding secured against the various types of collateral, financing rates/spreads increased across nearly all collateral types except equities for both average and most-favoured clients, reversing the decline observed in the preceding quarter. Furthermore, respondents indicated that demand for funding secured against any type of collateral except equities increased in the most recent period (Chart 2). Maximum maturities of funding decreased slightly for most collateral types, especially for government bonds, with only high-quality, non-financial corporate bonds showing a small net increase.

    Chart 2

    Securities financing transactions experienced an increase in financing rates/spreads and demand for funding, except for equities

    a) Change in financing rates/spreads for average clients by collateral type

    b) Change in overall demand for term funding by collateral type

    (net percentages of survey respondents, inverted)

    (net percentages of survey respondents, inverted)

    Source: ECB.

    Note: Net percentages are calculated as the difference between the percentage of respondents reporting “decreased somewhat” or “decreased considerably” and the percentage reporting “increased somewhat” or “increased considerably”.

    Against the background of broadly unchanged credit terms and conditions for the various types of non-centrally cleared over-the-counter (OTC) derivatives, including initial margin requirements, survey respondents pointed out a few changes regarding credit limits, liquidity and valuation disputes. The volume of valuation disputes increased for a few types of derivatives, particularly foreign exchange derivatives and credit derivatives referencing structured credit products. The maximum allowed exposure decreased for interest rate and commodity derivatives, while it increased slightly for credit derivatives. This was paired with reported improvements in the liquidity and trading of credit derivatives.

    The survey found that the US tariff announcements on 2 April had a limited but slightly negative impact on clients’ ability to meet margin calls. At the same time, the announcements did not significantly increase forced asset sales. The survey also featured a set of special questions examining euro area government bond (EGB) repo market activity and trading strategies. A large majority of respondents confirmed that they had engaged in trades combining EGB repo and reverse repo transactions, with margin offsets being a common practice for these types of transactions. However, other EGB repo trades were less common, such as those in combination with EGB futures or other interest rate derivatives. Yield curve or duration trades were named the most popular trades among client hedge funds, although alternative strategies, including cash-futures basis trades and intra-euro area sovereign repo trades, were also prevalent. Moreover, the majority of respondents indicated they had conducted a material number of EGB repo or reverse repo transactions as non-CCP bilateral trades in the last year and that they also expected the share of these trades to increase further over the next year.

    The results of the June 2025 SESFOD survey, the underlying detailed data series and the SESFOD guidelines are available on the ECB’s website, together with all other SESFOD publications.

    The SESFOD survey is conducted four times a year and covers changes in credit terms and conditions over three-month reference periods ending in February, May, August and November. The June 2025 survey collected qualitative information on changes between March 2025 and May 2025. The results are based on the responses received from a panel of 26 large banks, comprising 14 euro area banks and 12 banks with head offices outside the euro area.

    For media queries, please contact Verena Reith, tel.: +49 172 2570849.

    MIL OSI Europe News –