Category: Business

  • MIL-OSI Banking: Samsung Color E-Paper x NONO SHOP: Bringing a Sustainable Space to Life

    Source: Samsung

    Today’s consumers are redefining what it means to live well. Beyond simple consumption, they strive to make environmentally responsible choices throughout the entire purchasing journey. As a result, sustainability is no longer a trend — it has become a way of life. Brands are working to communicate their messages effectively while fully embracing and reflecting these eco-conscious values.
    Launched this year, Samsung Electronics’ Color E-Paper (EMDX model) is a next-generation signage solution that significantly reduces power consumption in digital content advertising. NONO SHOP, a zero-waste store and café in Seoul’s Itaewon neighborhood, has introduced Color E-Paper displays into its space — taking a proactive step toward more sustainable operations.

    ▲ Julian Quintart, Founder and Owner of NONO SHOP
    Samsung Newsroom visited NONO SHOP to explore how the space has become even more eco-conscious with the integration of Color E-Paper.
    Less Waste, More Flexibility
    NONO SHOP is a zero-waste store and vegan café offering plant-based beverages, desserts and groceries, along with a refill station to reduce single-use packaging. The shop promotes sustainability through customer engagement programs such as recycling campaigns and Climate Fresk workshops, where participants learn about climate change.
    Even with ongoing efforts to minimize waste, operating a store inevitably generates some trash. One example is printed promotional materials — including seasonal menus, event posters and schedule announcements — which must be updated frequently. As a result, a significant amount of paper-based signage was being discarded each month.

    ▲ Quintart shares the many advantages of Samsung Color E-Paper including reduced waste, power consumption and flexible installation options.
    By adopting Color E-Paper, NONO SHOP has significantly reduced waste from printed promotional materials. Images and text can be easily updated through a dedicated mobile app, eliminating the need to print and mount posters. The displays now allow for real-time content updates while delivering more impactful visuals.
    “Samsung Color E-Paper doesn’t feel like a digital screen,” said Julian Quintart, a Belgian entertainer and founder of NONO SHOP. “It looks so much like real printed material that, unless you look very closely, you’d think it was just an ordinary paper poster.”
    “The ability to instantly update images through the mobile app makes daily operations much more efficient,” added Juwon Shim, a manager at NONO SHOP. “It helps us save not only the resources and energy required for printing, but also time.”

    ▲ Samsung Color E-Paper offers simple hanging installation options thanks to its 2.5kg-light and 17.9 millimeter-slim profile
    Sustainably Crafted From Packaging to Product
    Color E-Paper is highly effective in reducing the energy typically required to operate and maintain commercial spaces. By applying ink technology to digital paper and using ambient light to render images, the displays eliminate the need for a backlight unit — the component in traditional screens that consumes energy to emit light. As a result, power consumption drops to 0.00 watts1 when content remains static. Even during updates, Color E-Paper uses significantly less energy than conventional digital signage.
    “When introducing new devices into the store, it’s important to consider not just their power consumption, but also their overall environmental impact,” said Quintart. “Color E-Paper is especially appealing because its energy use is significantly lower than that of traditional digital displays.”

    ▲ The packaging of Color E-Paper also reflects a strong commitment to sustainability.
    The product’s design and packaging also reflect a strong commitment to sustainability. Color E-Paper features 100% paper-based packaging and incorporates recycled plastic in more than half of its cover.
    “Even the packaging was thoughtfully designed,” he emphasized. “All these small efforts add up and represent a meaningful step toward resource circulation.”

    ▲ Zoe McTackett, a regular customer at NONO SHOP, appreciates that the cover of Color E-Paper is made from recycled plastic.
    Reactions to the Color E-Paper signage have been positive.
    “I was really surprised to learn that recycled plastic was used in Color E-Paper,” said Zoe McTackett, a regular customer at NONO SHOP. “Knowing that Samsung values not just technology, but also the environment, makes me trust the brand even more.”

    Built To Fit Anywhere
    Color E-Paper effortlessly integrates into any space, preserving the aesthetic of existing interiors and resembling framed artwork. Equipped with a patent pending color imaging algorithm, the display optimizes content for enhanced visibility — delivering smooth edge rendering, seamless gradients and rich color expression for a look and feel strikingly similar to printed posters.

    ▲ NONO SHOP not only uses Color E-Paper for in-store displays but also uses it as versatile screens during workshops
    “Even though it’s a digital screen, it doesn’t feel too sharp — it has a natural, paper-like quality,” said McTackett. She noted how comfortable it was to view, even in bright daylight or well-lit environments, thanks to its non-reflective surface.
    “I hope customers see the display not just as a digital device, but as a framed piece,” Quintart added. “Once they realize it’s actually digital paper, they focus more on the content and respond to the product more organically.”
    Weighing just 2.5 kilograms with the battery and measuring only 17.9 millimeters thick, Color E-Paper features an ultra-lightweight design with exceptional installation flexibility — easily mounted on walls, ceiling rails or stands without the need for additional structures.

    ▲ Color E-Paper can be installed almost anywhere thanks to its ultra-lightweight and ultra-slim design.
    “Depending on the setting, Color E-Paper can be used in various formats — on a stand, wall-mounted or hanging,” Shim explained. “One of its biggest advantages is that it can transform the store’s atmosphere without requiring major interior changes.”
    “When mounted on a movable stand, Color E-Paper is easy to reposition and can be set up near the entrance or beside the checkout counter,” she continued. “Hanging the display with wires is especially space-efficient since it takes up virtually no space.”
    Samsung’s Color E-Paper eliminates the trade-offs once associated with sustainable practices. Just as a single small action can spark meaningful change, Samsung remains committed to creating positive environmental impact — a mission now shared with NONO SHOP through Color E-Paper.

    1 According to International Electrotechnical Commission (IEC) 62301 standards, power consumption under 0.005 watts is displayed as 0.00 watts.

    MIL OSI Global Banks

  • MIL-OSI Banking: Samsung Electronics Acquires Xealth, Bridging The Gap Between Wellness and Medical Care

    Source: Samsung

    Samsung Electronics Co., Ltd. today announced that it has signed an agreement to acquire Xealth, a unique healthcare integration platform that brings diverse digital health tools and care programs that benefit patients and providers. Together with Samsung’s innovative leadership in wearable technology, the acquisition will help advance Samsung’s transformation into a connected care platform that bridges wellness and medical care bringing a seamless and holistic approach to preventative care to as many people as possible.
    This acquisition will further Samsung’s push to unify fragmented health information and to empower individuals to take control of their own health. Often, customer health data measured on wellness tools1, which keep track of one’s wellness journey every day, and clinical records at hospitals are managed separately, leading to missed insights and delayed care. The synergy between Samsung’s advanced wearable technology and Xealth’s digital health platform can create a link between home health monitoring and clinical decision-making through enhancements to Xealth’s platform, with the provider-patient relationship at the center of that effort.
    Samsung is committed to making digital health tools accessible for all through relentless innovation in technology and a boundless device ecosystem, and has been heavily investing in sensor technologies on wearables – essential tools to follow one’s wellbeing throughout both day and night. With Samsung’s diverse product portfolio especially around home, Samsung helps connect these various devices to bring better context and personalization around healthcare. The acquisition of Xealth will reinforce this commitment by becoming the cornerstone to advancing Samsung’s care at home vision of connecting and bridging wellness and medical care.

    Xealth, spun out of Providence health system, combines multiple digital health solutions into a single user interface and platform, giving healthcare providers a more complete picture of their patients, and enabling real-time monitoring, continuous engagement and smarter decision making. Xealth acts as an orchestration layer that gives health systems control over how they manage, filter, and use data. The company currently has a network of more than 500 U.S. hospitals, including Advocate Health and Banner Health, and more than 70 digital health solution partners, which will gain access to Samsung’s platform and enhance the connected care platform.
    “Samsung aims to improve the health of everyone through our extensive platform combining Samsung’s innovative technologies and open collaboration with industry leaders,” said TM Roh, President and Acting Head of the Device eXperience (DX) Division at Samsung Electronics. “We believe the acquisition of Xealth, with its accumulated expertise and extensive healthcare network, will be an anchor to accelerate Samsung’s efforts to support health systems and digital health partners through a truly connected care.”

    MIL OSI Global Banks

  • MIL-OSI: TGS Q2 2025 Operational and Financial Update

    Source: GlobeNewswire (MIL-OSI)

    OSLO, Norway (8 July 2025) – TGS ASA (“TGS”), a leading global provider of energy data and intelligence, routinely publishes a quarterly operational update six working days after quarter-end. For Q2 2025, it also includes a financial update.

    The table below shows TGS’ normalized Ocean Bottom Node (OBN) crew count¹:  

      Q2 2025 Q2 2024
    Normalized crew count Contract1 1.7 2.7
    Normalized crew count Multi-client1 1.1 0.0

    1) The table shows the average number of crews in operation when assuming a normalized crew size.

    The table below shows TGS’ allocation of active seismic streamer 3D vessel capacity2:

      Q2 2025 Q2 2024
    Contract 55% 28%
    Multi-client 23% 36%
    Steaming 9% 14%
    Yard 7% 6%
    Stacked/Standby 6% 16%
    Number of vessels 6 6

    2) The statistics include only active seismic 3D streamer vessels (capacity working on New Energy Solutions projects are excluded).

    Based on preliminary reporting from operating units, management of TGS expects IFRS revenues to be approximately USD 332 million in Q2 2025, compared to USD 224 million in Q2 2024 (USD 353 million proforma⁴ in Q2 2024).

    Produced revenues³ are expected to be approximately USD 306 million in Q2 2025, compared to USD 215 million in Q2 2024 (USD 381 million proforma⁴ in Q2 2024).

    Produced multi-client revenues are estimated to be approximately USD 135 million in Q2 2025, compared to USD 115 million in Q2 2024 (USD 194 million proforma⁴ in Q2 2024). Multi-client investment is expected to be approximately USD 120 million in Q2 2025, compared to USD 52 million in Q2 2024 (USD 92 million proforma⁴ in Q2 2024).

    Contract revenues amounted to approximately USD 171 million in Q2 2025, compared to USD 100 million in Q2 2024 (USD 187 million proforma⁴ in Q2 2024).  

    Kristian Johansen, CEO of TGS commented: “After several strong quarters, Q2 came in below expectations mainly due to three main factors. First, the end-of-quarter data licensing came in below internal forecasts, with several data licensing deals being postponed. Second, we encountered challenging operational conditions and stand-by time on one of our streamer projects, negatively impacting revenue recognition. Third, lower-than-expected JV-partner participation on certain multi-client projects resulted in recognition of higher multi-client investments and lower contract revenues. Discussions with our clients support our view that exploration activity will gradually increase from today’s levels. The successful offshore licensing round in Brazil and the recent announcement of a lease sale in the US Gulf of America are both positive drivers in facilitating more seismic activity in two of our key markets.”

    TGS will release its Q2 2025 results at 07:00 a.m. CEST on 17 July 2025. CEO Kristian Johansen and CFO Sven Børre Larsen will present the results at 09:00 a.m. CEST, webcasted live.

    The webcast can be followed live via this link:

    https://channel.royalcast.com/landingpage/hegnarmedia/20250717_2/

    ³For the purpose of Produced revenues, multi-client revenues committed prior to completion of projects are recognized on a percentage of completion basis. This differs from IFRS reporting, where revenues committed prior to completion are recognized when the customers receive access to the finished data.

    Adjustments between preliminary IFRS and Produced revenue numbers for Q2 2025: Preliminary reported IFRS revenue: USD 332 million

    – Revenue recognized from performance obligations met during Q2 for completed projects: USD 95 million

    + Revenue recognized under Produced during Q2: USD 69 million

    = Preliminary reported Produced revenue: USD 306 million

    ⁴Proforma considers TGS acquisition of PGS, which was completed 1 July 2024.

    For more information, visit TGS.com (http://www.tgs.com) or contact:

    Bård Stenberg, VP IR & Communication

    Tel.: +47 992 45 235

    E-mail: investor@tgs.com

    About TGS

    TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).

    Forward Looking Statement

    All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward- looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

    The MIL Network

  • MIL-OSI: TGS Q2 2025 Operational and Financial Update

    Source: GlobeNewswire (MIL-OSI)

    OSLO, Norway (8 July 2025) – TGS ASA (“TGS”), a leading global provider of energy data and intelligence, routinely publishes a quarterly operational update six working days after quarter-end. For Q2 2025, it also includes a financial update.

    The table below shows TGS’ normalized Ocean Bottom Node (OBN) crew count¹:  

      Q2 2025 Q2 2024
    Normalized crew count Contract1 1.7 2.7
    Normalized crew count Multi-client1 1.1 0.0

    1) The table shows the average number of crews in operation when assuming a normalized crew size.

    The table below shows TGS’ allocation of active seismic streamer 3D vessel capacity2:

      Q2 2025 Q2 2024
    Contract 55% 28%
    Multi-client 23% 36%
    Steaming 9% 14%
    Yard 7% 6%
    Stacked/Standby 6% 16%
    Number of vessels 6 6

    2) The statistics include only active seismic 3D streamer vessels (capacity working on New Energy Solutions projects are excluded).

    Based on preliminary reporting from operating units, management of TGS expects IFRS revenues to be approximately USD 332 million in Q2 2025, compared to USD 224 million in Q2 2024 (USD 353 million proforma⁴ in Q2 2024).

    Produced revenues³ are expected to be approximately USD 306 million in Q2 2025, compared to USD 215 million in Q2 2024 (USD 381 million proforma⁴ in Q2 2024).

    Produced multi-client revenues are estimated to be approximately USD 135 million in Q2 2025, compared to USD 115 million in Q2 2024 (USD 194 million proforma⁴ in Q2 2024). Multi-client investment is expected to be approximately USD 120 million in Q2 2025, compared to USD 52 million in Q2 2024 (USD 92 million proforma⁴ in Q2 2024).

    Contract revenues amounted to approximately USD 171 million in Q2 2025, compared to USD 100 million in Q2 2024 (USD 187 million proforma⁴ in Q2 2024).  

    Kristian Johansen, CEO of TGS commented: “After several strong quarters, Q2 came in below expectations mainly due to three main factors. First, the end-of-quarter data licensing came in below internal forecasts, with several data licensing deals being postponed. Second, we encountered challenging operational conditions and stand-by time on one of our streamer projects, negatively impacting revenue recognition. Third, lower-than-expected JV-partner participation on certain multi-client projects resulted in recognition of higher multi-client investments and lower contract revenues. Discussions with our clients support our view that exploration activity will gradually increase from today’s levels. The successful offshore licensing round in Brazil and the recent announcement of a lease sale in the US Gulf of America are both positive drivers in facilitating more seismic activity in two of our key markets.”

    TGS will release its Q2 2025 results at 07:00 a.m. CEST on 17 July 2025. CEO Kristian Johansen and CFO Sven Børre Larsen will present the results at 09:00 a.m. CEST, webcasted live.

    The webcast can be followed live via this link:

    https://channel.royalcast.com/landingpage/hegnarmedia/20250717_2/

    ³For the purpose of Produced revenues, multi-client revenues committed prior to completion of projects are recognized on a percentage of completion basis. This differs from IFRS reporting, where revenues committed prior to completion are recognized when the customers receive access to the finished data.

    Adjustments between preliminary IFRS and Produced revenue numbers for Q2 2025: Preliminary reported IFRS revenue: USD 332 million

    – Revenue recognized from performance obligations met during Q2 for completed projects: USD 95 million

    + Revenue recognized under Produced during Q2: USD 69 million

    = Preliminary reported Produced revenue: USD 306 million

    ⁴Proforma considers TGS acquisition of PGS, which was completed 1 July 2024.

    For more information, visit TGS.com (http://www.tgs.com) or contact:

    Bård Stenberg, VP IR & Communication

    Tel.: +47 992 45 235

    E-mail: investor@tgs.com

    About TGS

    TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).

    Forward Looking Statement

    All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward- looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

    The MIL Network

  • MIL-OSI Africa: Kholo Capital provides Bayport South Africa with a R200 million mezzanine debt growth funding facility to support the roll out of the Bayport South Africa (SA) Financial Wellness Solutions Programme

    Source: APO


    .

    Kholo Capital Mezzanine Debt Fund I (“Kholo Capital”) (www.KholoCapital.com) announced today the injection of a R200 million mezzanine debt growth funding facility into Bayport Securitisation (“Bayport South Africa” or “Bayport SA”) to support the roll out of the Bayport SA Financial Wellness Solutions Programme. Bayport SA is committed to alleviating employee over-indebtedness in South Africa and promoting long-term financial wellness of employees. This is achieved by offering them with practical debt solutions, which include debt reduction through negotiating settlement terms and discounts with creditors, halting legal action where possible, and improving employees’ credit scores, through its financial wellness solutions programme.

    Through the Bayport SA Financial Wellness Programme, Bayport SA addresses the widespread issue of over-indebtedness among South African employees. By providing tailored debt reductions (wherein the benefit of all settlement discounts negotiated with creditors is passed to the employees), debt consolidation and rehabilitation solutions, Bayport enables employees to regain financial stability and improve their long-term financial standing. The programme includes structured debt management processes and financial literacy initiatives, ensuring that employees not only reduce their debt obligations and debt repayments resulting in financial breathing room but also develop healthier long-term financial habits.

    Recent market data indicates that more than 60% of employed individuals in South Africa are struggling with over-indebtedness, while less than 14% of the South African population can afford to retire. Alarmingly, an average of 74% of income is spent on debt repayments, with 49% of all consumers falling more than one month behind on at least one loan. These findings highlight a critical socioeconomic issue that not only affects individual well-being and family units, but also impacts workplace productivity, stability, and staff morale.

    As a vital component of its initiative, Bayport SA offers employees, through partnerships with employers, a structured 10-week financial wellness journey aimed at providing both immediate relief and fostering long-term behavioural change. Employees can expect significant improvements in monthly cash flow (i.e., including significant debt reduction), enhanced expense management, and the ability to effectively plan for future financial milestones. The program includes personal financial health assessments, individualized coaching, and practical exercises to build sustainable financial habits. Additionally, employees engage in peer-led group sessions that promote accountability and support the development of effective money management practices.

    To further amplify the financial wellness program’s impact, Bayport SA supplies a range of digital tools and support services. These include a gamified financial wellness app that facilitates goal tracking and provides access to educational resources, along with one-on-one sessions with personal money coaches throughout the journey. The Bayport SA Academy offers online financial education and workshops to enhance financial literacy, while structured emergency credit facilities provide responsible short-term relief as an alternative to high-cost payday loans.

    Bayport SA is currently in partnership with more 70 employers across various industries in South Africa, including blue-chip corporations in FMCG, financial services, telecommunications, automotive, and mining sectors, as well as government entities at local, provincial, and national levels.

    Mokgome Mogoba, Managing Partner and Founder at Kholo Capital, remarked: “The positive ESG and social impact on the South African society by Bayport SA is substantial as the company provides significant debt relief to over-indebted employees. We are very passionate about financial inclusion and this investment achieves that. Bayport SA’s intervention in the South African economy is significant and measurable. Settlement discounts negotiated with creditors on behalf of employees can range between 25% and 80% of the total debt amount outstanding. The average increase in monthly disposable income is R7,450, representing 32.8% of the average basic salary of R22,865. This increase in financial flexibility is directly correlated with a substantial reduction in the total debt amount outstanding and reduction in monthly debt repayment obligations.”                                                                                                                        

    Zaheer Cassim, Managing Partner and Founder at Kholo Capital, asserted: “Bayport SA’s securitization program, is one of the best in South Africa. There has never been any payment defaults or covenant breaches, even during the challenging period of the COVID-19 pandemic. The securitization program is supported by leading South African institutional investors and South African banks. Bayport SA is also highly regarded for its first-class management team, transparent reporting practices and strong management engagement, with regular investor reporting and quarterly meetings with investors. The business is supported by strong shareholders of reference which include the Public Investment Corporation (PIC). We are very pleased with this investment in Bayport SA, and we look forward to supporting this highly talented and highly motivated management team in their vision to grow the business, by providing financial wellness solutions to the South African people.”

    Alfred Ramosedi, Chief Executive Officer of Bayport SA, commented: “We are proud to partner with Kholo Capital, whose commitment to impact investing aligns seamlessly with our mission to drive meaningful financial change. As one of South Africa’s leading financial wellness companies, this funding will enable us to scale our reach and deepen our impact – empowering even more South Africans with the tools and support to break free from debt and build financially resilient futures.”

    Norton Rose Fulbright acted as legal counsel to Kholo Capital and Werksmans acted as legal counsel for Bayport SA.

    Distributed by APO Group on behalf of Kholo Capital.

    Notes to Editors

    About R1,4 billion Kholo Capital Mezzanine Debt Fund I

    Please keep Kholo Capital Mezzanine Debt in mind whenever equity funding is needed, we can plug some of the equity funding gap with mezzanine debt loan funding (subordinated loans) so that shareholders don’t give up too much equity and don’t suffer too much equity dilution.

    The R1,4bn Kholo Capital Mezzanine Debt Fund provides mezzanine debt funding R70m to R205m to medium sized businesses generating minimum R25m EBITDA per annum. We can invest in all sectors including real estate (but excluding primary mining, resources, commodities, primary farming, micro lending, gambling, ammunition, hard liquor and tobacco). However, we can invest in mining services/products, mining logistics/transportation, mineral processing, and Agri-processing.

    We provide growth capital and acquisition funding to mid-market companies with operations in South Africa, Botswana, Namibia, Swaziland, or Lesotho. Investment tenor 4 to 7yrs targeting returns above 17% (interest rate plus equity upside). Leverage up to 3,5x to 4x Total Debt (senior debt and mezzanine debt) to EBITDA and/or up to 80% LTV.

    Kholo Capital is passionate about investing in sectors of the Southern African economy with high social impact including financial inclusion, affordable housing, healthcare, education, renewable energy, food security, ICT, and infrastructure. Our guiding business principles include commitment to add sustainable value to our investee companies and to adhere to the best ESG practices. The Fund uses the United Nation’s 17 Sustainable Development Goals as guiding principles with key focus on those linked to job creation and sustainable growth.

    We also fund share buy backs, refinancing of shareholder loans and dividend recaps. We also fund management buy-outs, leveraged buyouts and private equity buy-outs.

    We can also pay down portion of senior debt bank funding especially where the senior debt has steep capital repayments, in order to create cashflow headroom for the business. Mezzanine debt loan funding is typically 5-6yr flexible bullet loan funding with capital repayable right at the end on the maturity of the loan. The business only has to service interest payments during the loan tenor thereby creating cashflow headroom and the business can re-invest the excess cashflows for growth.

    Business or project must be generating minimum R25m EBITDA per annum at the time of investment. Meaning we can’t fund greenfield projects or new developments on a ring-fenced basis. We can look at greenfield opportunities or new projects provided there is an external guarantee (i.e., third party guarantee) from a business (i.e., balance sheet) that generates the minimum R25m EBITDA. The guarantee can fall away once the business meets the threshold and covenants are met.

    Also, we can’t fund distressed assets or big turnarounds.

    Kholo Capital is a specialist alternative investment fund management company with deep experience and track record in private markets. It was founded in 2020 by Mokgome Mogoba and Zaheer Cassim. The Kholo Capital investment team has more than 100 years of collective credit and investment experience and is highly skilled in senior debt, mezzanine debt and private equity. The investment team has a strong track record in the credit and investment space and has invested in excess of R50bn of mezzanine debt, private equity and senior debt investment transactions in over 90 transactions in more than 10 African countries. Kholo Capital is managed by a cohesive, dynamic and nimble team and the management team has worked together over the last 21 years.

    Website: www.KholoCapital.com

    Website: www.Bayport.co.za

    For more information contact:
    Mokgome Mogoba
    Managing Partner – Kholo Capital Mezzanine Debt Fund I
    mokgome@kholocapital.com
    Tel: +27-79-631-5860

    Zaheer Cassim
    Managing Partner – Kholo Capital Mezzanine Debt Fund I
    zaheer@kholocapital.com
    Tel: +27-83-786-0845

    MIL OSI Africa

  • PM Modi arrives in Brasília for state visit, to hold talks with President Lula

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi arrived in the Brazilian capital Brasília on Monday, marking the second leg of his visit to Brazil after concluding a “very productive” trip to Rio de Janeiro for the 17th BRICS Summit.

    Upon his arrival, Prime Minister Modi was received at the airport by Brazil’s Defence Minister Jose Mucio Monteiro Filho.

    During his State Visit, the Indian Prime Minister is scheduled to hold bilateral discussions with Brazilian President Luiz Inácio Lula da Silva.

    Briefing reporters on Sunday, India’s Ambassador to Brazil, Dinesh Bhatia, said that both sides are expected to sign four agreements or memorandums of understanding (MoUs). These will cover cooperation in renewable energy, counterterrorism, agricultural research between the Indian Council of Agricultural Research (ICAR) and Brazil’s Embrapa, and the exchange and mutual protection of confidential information.

    A relationship rooted in shared values

    India and Brazil share a multifaceted relationship which was elevated to a Strategic Partnership in 2006. The two countries also work closely in global and plurilateral forums such as BRICS, IBSA, G20, G-4, the International Solar Alliance and the Global Biofuel Alliance.

    The bilateral relationship is underpinned by a shared vision for a just global order, democratic values and the commitment to foster economic growth with social inclusion.

    Historically, the cultural exchanges between Brazil and India date back to the Portuguese colonial era. Indian cattle breeds like Gir and Kankrej, exported to Brazil in the early 20th century, have significantly contributed to Brazil’s dairy industry. The popularity of Brazilian television series such as Caminho das Indias has also enhanced India’s image in Brazilian popular culture.

    Diplomatic relations were formally established in 1948, with embassies opened in the same year. India’s embassy shifted from Rio de Janeiro to Brasilia in 1971.

    Strengthening economic ties

    The trade relationship between India and Brazil remains robust. In 2024-25, bilateral trade reached USD 12.2 billion, with Indian exports accounting for USD 6.77 billion and imports from Brazil at USD 5.43 billion. Major Indian exports include petroleum products, agro-chemicals, pharmaceuticals and engineering goods. Brazilian exports to India primarily comprise crude oil, soya oil, gold, raw sugar and cotton.

    Indian investments in Brazil are estimated at over USD 6 billion, while Brazilian investments in India are around USD 1 billion. Prominent Indian firms operating in Brazil include Tata Motors, Mahindra Tractors, Infosys, Wipro and Sun Pharma, among others. Conversely, Brazilian companies such as Vale, Stefanini and WEG have a presence in India.

    High-level visits and parliamentary exchanges

    In recent years, high-level exchanges have imparted momentum to the relationship. President Jair Bolsonaro paid a state visit to India in January 2020 and was the Chief Guest at India’s Republic Day Parade. During the visit, an Action Plan was adopted to strengthen the Strategic Partnership, leading to the signing of 15 agreements across diverse sectors.

    Parliamentary engagement has also expanded. Speaker of the Lok Sabha, Om Birla, led a delegation to attend the BRICS Parliamentary Forum in Brasilia in June 2025 and held meetings with Brazilian parliamentary leaders. Earlier, Deputy Chairman of the Rajya Sabha, Harivansh, participated in the G20 Parliamentary Speakers’ Summit in November 2024.

    Recently, a multi-party parliamentary delegation led by Dr. Shashi Tharoor visited Brasilia to discuss cross-border terrorism following the Pahalgam attack. They met Vice President Geraldo Alckmin and senior Brazilian officials.

    Expanding frontiers: space, energy and health

    India and Brazil collaborate in space technology through agreements for peaceful use of outer space and satellite tracking. India notably launched Brazil’s Amazonia-1 satellite in 2021.

    In oil and gas, Brazil is India’s largest upstream investment destination in the Americas, with Indian PSUs investing over USD 3.5 billion. The nations are also co-founders of the Global Biofuel Alliance, launched at the 2023 G20 Summit in New Delhi.

    Health and traditional medicine are other areas of cooperation. Ayurveda and Yoga are recognised under Brazil’s national policy of alternative medicine, and the two countries have agreed to collaborate on health surveillance, technology transfer and research.

     

  • King Charles hosts Macron in first European state visit since Brexit

    Source: Government of India

    Source: Government of India (4)

    Britain’s King Charles will welcome French President Emmanuel Macron to Windsor Castle on Tuesday for the first state visit by a European leader since Brexit in a trip aimed at celebrating the return of closer political ties between the countries.

    The grand ceremonial event will be the first for Macron, who enjoys a good personal relationship with the king. The last state visit to Britain by a French president was in 2008, when Nicolas Sarkozy was a guest of the late Queen Elizabeth.

    Britain has been trying to reset ties with European allies since Prime Minister Keir Starmer was elected last year. The talks this week will focus on a range of issues, including how to stop people-smuggling and improving economic and defence ties at a time when the United States is retrenching from its traditional role as a defender of European security.

    Although there have been tensions over the shape of post-Brexit ties and how to stop asylum seekers from crossing the Channel in small boats, Britain and France have been working closely together to create a planned military force to support Ukraine in the event of a ceasefire with Russia.

    Sebastien Maillard, an associate fellow at London’s Chatham House think tank, said the two sides were seeking to repair some of the damage done by the Brexit negotiations in the run up to Britain leaving the EU in 2020, “when France was more or less playing the bad cop”.

    While Macron’s three-day visit is filled with meetings about economic issues and foreign affairs, the first day of the visit is largely focused on pageantry, and heavy in symbolism.

    Prince William and his wife Kate will greet Macron and his wife Brigitte at a military airport in London and will accompany them to Windsor where they will be officially welcomed by the king and Queen Camilla, and gun salutes.

    They will then travel in a carriage procession through Windsor’s streets, attend a military parade and then have lunch with the royal family at the castle.

    On Tuesday afternoon, Macron will travel back to London to speak to lawmakers in the parliament. The day will end with a state dinner at Windsor Castle, including speeches by the king and Macron in front of about 150 guests.

    MIGRANTS’ RETURN DEAL

    The following day Starmer will host Macron at Downing Street where they will discuss how to stop the flow of tens of thousands of asylum seekers across the Channel.

    British officials are hoping that Macron will agree to a pilot of an asylum seekers’ returns deal. This would involve Britain deporting one asylum seeker to France in exchange for another with a legitimate case to be in Britain, thereby disrupting the business model of people-smuggling gangs.

    A record number of asylum seekers have arrived in Britain on small boats from France in the first six months of this year. Starmer, trailing behind Nigel Farage’s insurgent, right-wing Reform UK party in the polls, is under pressure to come up with a solution.

    France has previously refused to sign up to such an agreement, saying Britain should negotiate an arrangement with all the EU countries.

    On Thursday, Starmer and Macron will host a UK-France summit to discuss other bilateral issues and how to support Ukraine. The two could also announce further cooperation on nuclear investment, such as at Sizewell C.

    Macron’s visit is a sign of a new era in relations.

    Former British Prime Minister Boris Johnson said in his memoirs published last year that Macron wanted to punish Britain after it voted to leave the EU in 2016.

    Britain and France in recent years have publicly clashed over fishing rights and a submarine alliance that united Britain, Australia and the United States, but left France on the sidelines.

    (Reuters)

  • Japan will continue trade talks with US for mutually beneficial deal, Ishiba says

    Source: Government of India

    Source: Government of India (4)

    Japanese Prime Minister Shigeru Ishiba said on Tuesday that he would continue negotiations with the U.S. to seek a mutually beneficial trade deal, after President Donald Trump announced 25% tariffs on goods from Japan starting August 1.

    Trump on Monday started notifying trade partners, from major suppliers like Japan and South Korea to minor players, of steep U.S. tariff hikes, but later indicated a willingness to delay implementation if countries made acceptable proposals.

    While Tokyo and Washington have yet to reach a deal, Ishiba noted that recent talks had helped Japan avoid even steeper tariffs of around 30-35% as suggested previously by Trump.

    “We have received a proposal from the United States to swiftly proceed with negotiations towards the newly set August 1 deadline, and that depending on Japan’s response, the content of the letter could be revised,” Ishiba said at a meeting with cabinet ministers to discuss Japan’s strategy on tariffs.

    Japan will “actively seek the chance of an agreement that benefits both countries, while protecting Japan’s national interest,” he added.

    Ishiba also asked his cabinet ministers to take steps to mitigate the blow from tariffs on industries and jobs.

    The latest development in the U.S. trade war drove the dollar up to a two-week high of 146.24 yen, potentially lifting already rising import costs.

    Japan failed to clinch a deal with the U.S. before a July 9 expiration of a temporary pause on reciprocal tariffs, due to its focus on eliminating a 25% tariff on automobiles – a mainstay of its export-reliant economy.

    With an upper house election on July 20, Ishiba has repeatedly said Japan will not make “easy concessions” for the sake of an early deal with Washington.

    Recent media polls have shown Ishiba’s ruling coalition may fail to maintain a majority in the upper house, which could complicate trade negotiations, analysts say.

    U.S. tariffs also add to woes for Japan’s economy, which shrank in the first quarter on soft consumption.

    Real wages in May fell at the fastest pace in nearly two years, while the government on Monday made the bleakest assessment on the economy in nearly five years.

    “While Japan likely averted the worst-case scenario, 25% tariffs would still hurt exporters’ profits by up to 25%,” said Kazuki Fujimoto, an analyst at Japan Research Institute.

    “If corporate profits worsen, it’s hard to avoid companies from toning down on efforts to hike wages,” he added.

    (Reuters)

  • Japan will continue trade talks with US for mutually beneficial deal, Ishiba says

    Source: Government of India

    Source: Government of India (4)

    Japanese Prime Minister Shigeru Ishiba said on Tuesday that he would continue negotiations with the U.S. to seek a mutually beneficial trade deal, after President Donald Trump announced 25% tariffs on goods from Japan starting August 1.

    Trump on Monday started notifying trade partners, from major suppliers like Japan and South Korea to minor players, of steep U.S. tariff hikes, but later indicated a willingness to delay implementation if countries made acceptable proposals.

    While Tokyo and Washington have yet to reach a deal, Ishiba noted that recent talks had helped Japan avoid even steeper tariffs of around 30-35% as suggested previously by Trump.

    “We have received a proposal from the United States to swiftly proceed with negotiations towards the newly set August 1 deadline, and that depending on Japan’s response, the content of the letter could be revised,” Ishiba said at a meeting with cabinet ministers to discuss Japan’s strategy on tariffs.

    Japan will “actively seek the chance of an agreement that benefits both countries, while protecting Japan’s national interest,” he added.

    Ishiba also asked his cabinet ministers to take steps to mitigate the blow from tariffs on industries and jobs.

    The latest development in the U.S. trade war drove the dollar up to a two-week high of 146.24 yen, potentially lifting already rising import costs.

    Japan failed to clinch a deal with the U.S. before a July 9 expiration of a temporary pause on reciprocal tariffs, due to its focus on eliminating a 25% tariff on automobiles – a mainstay of its export-reliant economy.

    With an upper house election on July 20, Ishiba has repeatedly said Japan will not make “easy concessions” for the sake of an early deal with Washington.

    Recent media polls have shown Ishiba’s ruling coalition may fail to maintain a majority in the upper house, which could complicate trade negotiations, analysts say.

    U.S. tariffs also add to woes for Japan’s economy, which shrank in the first quarter on soft consumption.

    Real wages in May fell at the fastest pace in nearly two years, while the government on Monday made the bleakest assessment on the economy in nearly five years.

    “While Japan likely averted the worst-case scenario, 25% tariffs would still hurt exporters’ profits by up to 25%,” said Kazuki Fujimoto, an analyst at Japan Research Institute.

    “If corporate profits worsen, it’s hard to avoid companies from toning down on efforts to hike wages,” he added.

    (Reuters)

  • Japan will continue trade talks with US for mutually beneficial deal, Ishiba says

    Source: Government of India

    Source: Government of India (4)

    Japanese Prime Minister Shigeru Ishiba said on Tuesday that he would continue negotiations with the U.S. to seek a mutually beneficial trade deal, after President Donald Trump announced 25% tariffs on goods from Japan starting August 1.

    Trump on Monday started notifying trade partners, from major suppliers like Japan and South Korea to minor players, of steep U.S. tariff hikes, but later indicated a willingness to delay implementation if countries made acceptable proposals.

    While Tokyo and Washington have yet to reach a deal, Ishiba noted that recent talks had helped Japan avoid even steeper tariffs of around 30-35% as suggested previously by Trump.

    “We have received a proposal from the United States to swiftly proceed with negotiations towards the newly set August 1 deadline, and that depending on Japan’s response, the content of the letter could be revised,” Ishiba said at a meeting with cabinet ministers to discuss Japan’s strategy on tariffs.

    Japan will “actively seek the chance of an agreement that benefits both countries, while protecting Japan’s national interest,” he added.

    Ishiba also asked his cabinet ministers to take steps to mitigate the blow from tariffs on industries and jobs.

    The latest development in the U.S. trade war drove the dollar up to a two-week high of 146.24 yen, potentially lifting already rising import costs.

    Japan failed to clinch a deal with the U.S. before a July 9 expiration of a temporary pause on reciprocal tariffs, due to its focus on eliminating a 25% tariff on automobiles – a mainstay of its export-reliant economy.

    With an upper house election on July 20, Ishiba has repeatedly said Japan will not make “easy concessions” for the sake of an early deal with Washington.

    Recent media polls have shown Ishiba’s ruling coalition may fail to maintain a majority in the upper house, which could complicate trade negotiations, analysts say.

    U.S. tariffs also add to woes for Japan’s economy, which shrank in the first quarter on soft consumption.

    Real wages in May fell at the fastest pace in nearly two years, while the government on Monday made the bleakest assessment on the economy in nearly five years.

    “While Japan likely averted the worst-case scenario, 25% tariffs would still hurt exporters’ profits by up to 25%,” said Kazuki Fujimoto, an analyst at Japan Research Institute.

    “If corporate profits worsen, it’s hard to avoid companies from toning down on efforts to hike wages,” he added.

    (Reuters)

  • Japan will continue trade talks with US for mutually beneficial deal, Ishiba says

    Source: Government of India

    Source: Government of India (4)

    Japanese Prime Minister Shigeru Ishiba said on Tuesday that he would continue negotiations with the U.S. to seek a mutually beneficial trade deal, after President Donald Trump announced 25% tariffs on goods from Japan starting August 1.

    Trump on Monday started notifying trade partners, from major suppliers like Japan and South Korea to minor players, of steep U.S. tariff hikes, but later indicated a willingness to delay implementation if countries made acceptable proposals.

    While Tokyo and Washington have yet to reach a deal, Ishiba noted that recent talks had helped Japan avoid even steeper tariffs of around 30-35% as suggested previously by Trump.

    “We have received a proposal from the United States to swiftly proceed with negotiations towards the newly set August 1 deadline, and that depending on Japan’s response, the content of the letter could be revised,” Ishiba said at a meeting with cabinet ministers to discuss Japan’s strategy on tariffs.

    Japan will “actively seek the chance of an agreement that benefits both countries, while protecting Japan’s national interest,” he added.

    Ishiba also asked his cabinet ministers to take steps to mitigate the blow from tariffs on industries and jobs.

    The latest development in the U.S. trade war drove the dollar up to a two-week high of 146.24 yen, potentially lifting already rising import costs.

    Japan failed to clinch a deal with the U.S. before a July 9 expiration of a temporary pause on reciprocal tariffs, due to its focus on eliminating a 25% tariff on automobiles – a mainstay of its export-reliant economy.

    With an upper house election on July 20, Ishiba has repeatedly said Japan will not make “easy concessions” for the sake of an early deal with Washington.

    Recent media polls have shown Ishiba’s ruling coalition may fail to maintain a majority in the upper house, which could complicate trade negotiations, analysts say.

    U.S. tariffs also add to woes for Japan’s economy, which shrank in the first quarter on soft consumption.

    Real wages in May fell at the fastest pace in nearly two years, while the government on Monday made the bleakest assessment on the economy in nearly five years.

    “While Japan likely averted the worst-case scenario, 25% tariffs would still hurt exporters’ profits by up to 25%,” said Kazuki Fujimoto, an analyst at Japan Research Institute.

    “If corporate profits worsen, it’s hard to avoid companies from toning down on efforts to hike wages,” he added.

    (Reuters)

  • Amarnath Yatra proceeds smoothly, over 90,000 pilgrims have ‘darshan’ in five days

    Source: Government of India

    Source: Government of India (4)

    The annual Amarnath Yatra has been progressing peacefully over the past five days, with the number of pilgrims steadily increasing each day. As of Tuesday, over 90,000 devotees have undertaken the sacred pilgrimage since it commenced on July 3.

    On Tuesday, another batch of 7,541 pilgrims departed for the Kashmir Valley. According to officials, these Yatris left the Bhagwati Nagar Yatri Niwas in Jammu in two escorted convoys.

    “The first escorted convoy, comprising 148 vehicles and carrying 3,321 pilgrims, departed at 2:55 a.m. for the Baltal base camp. The second convoy, consisting of 161 vehicles and 4,220 pilgrims, left at 4:03 a.m. for the Nunwan (Pahalgam) base camp,” said officials.

    In addition to those arriving from Bhagwati Nagar, many pilgrims are reaching the Valley directly and registering on the spot at the transit camps and base camps, according to the Shri Amarnathji Shrine Board (SASB), which oversees the pilgrimage.

    In light of the April 22 terror attack in Pahalgam, authorities have ensured stringent security measures this year. A multi-layered security apparatus has been deployed, with an additional 180 companies of Central Armed Police Forces (CAPFs) supplementing the existing presence of the Army, BSF, CRPF, SSB, and local police. Security forces are stationed across all transit camps and along the entire route from Jammu to the holy cave shrine.

    Local residents have once again extended wholehearted support to the Yatra, reaffirming their long-standing tradition of hospitality. In a poignant gesture following the Pahalgam attack, locals welcomed the first batch of pilgrims at Qazigund – the Valley’s entry point via the Navyug Tunnel – with garlands and placards, expressing solidarity and sorrow.

    This year, the Yatra will continue for 38 days, concluding on August 9, coinciding with the auspicious festivals of Shravan Purnima and Raksha Bandhan.

    (With inputs from IANS)

  • Amarnath Yatra proceeds smoothly, over 90,000 pilgrims have ‘darshan’ in five days

    Source: Government of India

    Source: Government of India (4)

    The annual Amarnath Yatra has been progressing peacefully over the past five days, with the number of pilgrims steadily increasing each day. As of Tuesday, over 90,000 devotees have undertaken the sacred pilgrimage since it commenced on July 3.

    On Tuesday, another batch of 7,541 pilgrims departed for the Kashmir Valley. According to officials, these Yatris left the Bhagwati Nagar Yatri Niwas in Jammu in two escorted convoys.

    “The first escorted convoy, comprising 148 vehicles and carrying 3,321 pilgrims, departed at 2:55 a.m. for the Baltal base camp. The second convoy, consisting of 161 vehicles and 4,220 pilgrims, left at 4:03 a.m. for the Nunwan (Pahalgam) base camp,” said officials.

    In addition to those arriving from Bhagwati Nagar, many pilgrims are reaching the Valley directly and registering on the spot at the transit camps and base camps, according to the Shri Amarnathji Shrine Board (SASB), which oversees the pilgrimage.

    In light of the April 22 terror attack in Pahalgam, authorities have ensured stringent security measures this year. A multi-layered security apparatus has been deployed, with an additional 180 companies of Central Armed Police Forces (CAPFs) supplementing the existing presence of the Army, BSF, CRPF, SSB, and local police. Security forces are stationed across all transit camps and along the entire route from Jammu to the holy cave shrine.

    Local residents have once again extended wholehearted support to the Yatra, reaffirming their long-standing tradition of hospitality. In a poignant gesture following the Pahalgam attack, locals welcomed the first batch of pilgrims at Qazigund – the Valley’s entry point via the Navyug Tunnel – with garlands and placards, expressing solidarity and sorrow.

    This year, the Yatra will continue for 38 days, concluding on August 9, coinciding with the auspicious festivals of Shravan Purnima and Raksha Bandhan.

    (With inputs from IANS)

  • Amarnath Yatra proceeds smoothly, over 90,000 pilgrims have ‘darshan’ in five days

    Source: Government of India

    Source: Government of India (4)

    The annual Amarnath Yatra has been progressing peacefully over the past five days, with the number of pilgrims steadily increasing each day. As of Tuesday, over 90,000 devotees have undertaken the sacred pilgrimage since it commenced on July 3.

    On Tuesday, another batch of 7,541 pilgrims departed for the Kashmir Valley. According to officials, these Yatris left the Bhagwati Nagar Yatri Niwas in Jammu in two escorted convoys.

    “The first escorted convoy, comprising 148 vehicles and carrying 3,321 pilgrims, departed at 2:55 a.m. for the Baltal base camp. The second convoy, consisting of 161 vehicles and 4,220 pilgrims, left at 4:03 a.m. for the Nunwan (Pahalgam) base camp,” said officials.

    In addition to those arriving from Bhagwati Nagar, many pilgrims are reaching the Valley directly and registering on the spot at the transit camps and base camps, according to the Shri Amarnathji Shrine Board (SASB), which oversees the pilgrimage.

    In light of the April 22 terror attack in Pahalgam, authorities have ensured stringent security measures this year. A multi-layered security apparatus has been deployed, with an additional 180 companies of Central Armed Police Forces (CAPFs) supplementing the existing presence of the Army, BSF, CRPF, SSB, and local police. Security forces are stationed across all transit camps and along the entire route from Jammu to the holy cave shrine.

    Local residents have once again extended wholehearted support to the Yatra, reaffirming their long-standing tradition of hospitality. In a poignant gesture following the Pahalgam attack, locals welcomed the first batch of pilgrims at Qazigund – the Valley’s entry point via the Navyug Tunnel – with garlands and placards, expressing solidarity and sorrow.

    This year, the Yatra will continue for 38 days, concluding on August 9, coinciding with the auspicious festivals of Shravan Purnima and Raksha Bandhan.

    (With inputs from IANS)

  • Amarnath Yatra proceeds smoothly, over 90,000 pilgrims have ‘darshan’ in five days

    Source: Government of India

    Source: Government of India (4)

    The annual Amarnath Yatra has been progressing peacefully over the past five days, with the number of pilgrims steadily increasing each day. As of Tuesday, over 90,000 devotees have undertaken the sacred pilgrimage since it commenced on July 3.

    On Tuesday, another batch of 7,541 pilgrims departed for the Kashmir Valley. According to officials, these Yatris left the Bhagwati Nagar Yatri Niwas in Jammu in two escorted convoys.

    “The first escorted convoy, comprising 148 vehicles and carrying 3,321 pilgrims, departed at 2:55 a.m. for the Baltal base camp. The second convoy, consisting of 161 vehicles and 4,220 pilgrims, left at 4:03 a.m. for the Nunwan (Pahalgam) base camp,” said officials.

    In addition to those arriving from Bhagwati Nagar, many pilgrims are reaching the Valley directly and registering on the spot at the transit camps and base camps, according to the Shri Amarnathji Shrine Board (SASB), which oversees the pilgrimage.

    In light of the April 22 terror attack in Pahalgam, authorities have ensured stringent security measures this year. A multi-layered security apparatus has been deployed, with an additional 180 companies of Central Armed Police Forces (CAPFs) supplementing the existing presence of the Army, BSF, CRPF, SSB, and local police. Security forces are stationed across all transit camps and along the entire route from Jammu to the holy cave shrine.

    Local residents have once again extended wholehearted support to the Yatra, reaffirming their long-standing tradition of hospitality. In a poignant gesture following the Pahalgam attack, locals welcomed the first batch of pilgrims at Qazigund – the Valley’s entry point via the Navyug Tunnel – with garlands and placards, expressing solidarity and sorrow.

    This year, the Yatra will continue for 38 days, concluding on August 9, coinciding with the auspicious festivals of Shravan Purnima and Raksha Bandhan.

    (With inputs from IANS)

  • MIL-OSI: Diginex Announces Plans for Eight-for-One Forward Stock Split

    Source: GlobeNewswire (MIL-OSI)

    LONDON, July 07, 2025 (GLOBE NEWSWIRE) — Diginex Limited (“Diginex” or the “Company”) (NASDAQ: DGNX), a leading provider of Sustainability RegTech solutions, today announced that on July 1, 2025 the Diginex Board of Directors (the “Board”) adopted resolutions recommending that its shareholders approve an eight-for-one (8:1) forward stock split. 

    The Board has scheduled an extraordinary general meeting of its shareholders to be held on July 29, 2025 (the “EGM”) for shareholders of record as of July 3, 2025 (the “Record Date”) to vote on the forward stock split and the filing of a second amended and restated memorandum and articles of association (the “Proposals”). Should the Proposals be approved by shareholders the forward stock split will be effective from August 1, 2025. 

    Should the Proposals be approved at the EGM, (i) each ordinary share of US$0.00005 par value shall be subdivided into eight (8) ordinary shares of US$0.00000625 par value each; (ii) each preferred share of US$0.00005 par value shall be subdivided into eight (8) preferred shares of US$0.00000625 par value each; and (iii) the authorized share capital of the Company shall become US$50,000 divided into 7,680,000,000 ordinary shares of par value US$0.00000625 each and 320,000,000 preferred shares of par value US$0.00000625 each. Any fractional shares, as a result of the forward stock split, will be rounded up. There will be no cash in lieu shares payments.

    The forward stock split is intended to make Diginex’s shares more accessible to a wider range of investors while maintaining the company’s market capitalization.

    “We are pleased to propose this forward stock split, which reflects our commitment to enhancing shareholder accessibility and liquidity,” said Miles Pelham, Chairman and Founder of Diginex. “This move aligns with our strategic goals to broaden our investor base and support the long-term growth of our business.” 

    The forward stock split will not affect the total value of an investor’s holdings of Diginex shares at the time of the forward split. The Notice of the Extraordinary General Meeting, Proxy Statement and Proxy Card has been mailed on or about July 7, 2025, to all shareholders of the Company as of the Record Date. Shareholders can review copies the Notice of the Extraordinary General Meeting, Proxy Statement and Proxy Card at www.sec.gov in the Company’s Form 6-K and at https://www.cstproxy.com/diginex/2025

    About Diginex

    Diginex Limited (Nasdaq: DGNX; ISIN KYG286871044), headquartered in London, is a sustainable RegTech business that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. The Company utilizes blockchain, AI, machine learning and data analysis technology to lead change and increase transparency in corporate regulatory reporting and sustainable finance. Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software. 

    The award-winning diginexESG platform supports 17 global frameworks, including GRI (the “Global Reporting Initiative”), SASB (the “Sustainability Accounting Standards Board”), and TCFD (the “Task Force on Climate-related Financial Disclosures”). Clients benefit from end-to-end support, ranging from materiality assessments and data management to stakeholder engagement, report generation and an ESG Ratings Support Service.

    For more information, please visit the Company’s website:

    https://www.diginex.com/.

    Forward-Looking Statements
    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results disclosed in the Company’s filings with the SEC.

    Diginex
    Investor Relations
    Email: ir@diginex.com 

    IR Contact – Europe
    Anna Höffken
    Phone: +49.40.609186.0
    Email: diginex@kirchhoff.de 

    IR Contact – US
    Jackson Lin
    Lambert by LLYC
    Phone: +1 (646) 717-4593
    Email: jian.lin@llyc.global 

    IR Contact – Asia
    Shelly Cheng
    Strategic Financial Relations Ltd.
    Phone: +852 2864 4857
    Email: sprg_diginex@sprg.com.hk 

    The MIL Network

  • MIL-OSI: Diginex Announces Plans for Eight-for-One Forward Stock Split

    Source: GlobeNewswire (MIL-OSI)

    LONDON, July 07, 2025 (GLOBE NEWSWIRE) — Diginex Limited (“Diginex” or the “Company”) (NASDAQ: DGNX), a leading provider of Sustainability RegTech solutions, today announced that on July 1, 2025 the Diginex Board of Directors (the “Board”) adopted resolutions recommending that its shareholders approve an eight-for-one (8:1) forward stock split. 

    The Board has scheduled an extraordinary general meeting of its shareholders to be held on July 29, 2025 (the “EGM”) for shareholders of record as of July 3, 2025 (the “Record Date”) to vote on the forward stock split and the filing of a second amended and restated memorandum and articles of association (the “Proposals”). Should the Proposals be approved by shareholders the forward stock split will be effective from August 1, 2025. 

    Should the Proposals be approved at the EGM, (i) each ordinary share of US$0.00005 par value shall be subdivided into eight (8) ordinary shares of US$0.00000625 par value each; (ii) each preferred share of US$0.00005 par value shall be subdivided into eight (8) preferred shares of US$0.00000625 par value each; and (iii) the authorized share capital of the Company shall become US$50,000 divided into 7,680,000,000 ordinary shares of par value US$0.00000625 each and 320,000,000 preferred shares of par value US$0.00000625 each. Any fractional shares, as a result of the forward stock split, will be rounded up. There will be no cash in lieu shares payments.

    The forward stock split is intended to make Diginex’s shares more accessible to a wider range of investors while maintaining the company’s market capitalization.

    “We are pleased to propose this forward stock split, which reflects our commitment to enhancing shareholder accessibility and liquidity,” said Miles Pelham, Chairman and Founder of Diginex. “This move aligns with our strategic goals to broaden our investor base and support the long-term growth of our business.” 

    The forward stock split will not affect the total value of an investor’s holdings of Diginex shares at the time of the forward split. The Notice of the Extraordinary General Meeting, Proxy Statement and Proxy Card has been mailed on or about July 7, 2025, to all shareholders of the Company as of the Record Date. Shareholders can review copies the Notice of the Extraordinary General Meeting, Proxy Statement and Proxy Card at www.sec.gov in the Company’s Form 6-K and at https://www.cstproxy.com/diginex/2025

    About Diginex

    Diginex Limited (Nasdaq: DGNX; ISIN KYG286871044), headquartered in London, is a sustainable RegTech business that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. The Company utilizes blockchain, AI, machine learning and data analysis technology to lead change and increase transparency in corporate regulatory reporting and sustainable finance. Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software. 

    The award-winning diginexESG platform supports 17 global frameworks, including GRI (the “Global Reporting Initiative”), SASB (the “Sustainability Accounting Standards Board”), and TCFD (the “Task Force on Climate-related Financial Disclosures”). Clients benefit from end-to-end support, ranging from materiality assessments and data management to stakeholder engagement, report generation and an ESG Ratings Support Service.

    For more information, please visit the Company’s website:

    https://www.diginex.com/.

    Forward-Looking Statements
    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results disclosed in the Company’s filings with the SEC.

    Diginex
    Investor Relations
    Email: ir@diginex.com 

    IR Contact – Europe
    Anna Höffken
    Phone: +49.40.609186.0
    Email: diginex@kirchhoff.de 

    IR Contact – US
    Jackson Lin
    Lambert by LLYC
    Phone: +1 (646) 717-4593
    Email: jian.lin@llyc.global 

    IR Contact – Asia
    Shelly Cheng
    Strategic Financial Relations Ltd.
    Phone: +852 2864 4857
    Email: sprg_diginex@sprg.com.hk 

    The MIL Network

  • MIL-OSI Economics: Money Market Operations as on July 07, 2025

    Source: Reserve Bank of India


    (Amount in ₹ crore, Rate in Per cent)

      Volume
    (One Leg)
    Weighted
    Average Rate
    Range
    A. Overnight Segment (I+II+III+IV) 6,13,280.00 5.14 2.00-6.25
         I. Call Money 17,060.89 5.26 4.75-5.35
         II. Triparty Repo 4,00,746.10 5.11 5.00-5.26
         III. Market Repo 1,92,328.36 5.18 2.00-5.60
         IV. Repo in Corporate Bond 3,144.65 5.42 5.32-6.25
    B. Term Segment      
         I. Notice Money** 167.35 5.19 4.85-5.25
         II. Term Money@@ 1,465.00 5.30-5.70
         III. Triparty Repo 1,375.00 5.23 5.20-5.25
         IV. Market Repo 1,283.93 5.32 5.28-5.35
         V. Repo in Corporate Bond 0.00
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Mon, 07/07/2025 1 Tue, 08/07/2025 1,051.00 5.75
    4. SDFΔ# Mon, 07/07/2025 1 Tue, 08/07/2025 2,50,865.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,49,814.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Fri, 04/07/2025 7 Fri, 11/07/2025 1,00,010.00 5.47
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       5,987.11  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -94,022.89  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -3,43,836.89  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on July 07, 2025 9,30,865.97  
         (ii) Average daily cash reserve requirement for the fortnight ending July 11, 2025 9,52,318.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ July 07, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on June 13, 2025 5,62,116.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/674

    MIL OSI Economics

  • MIL-OSI Economics: Money Market Operations as on July 07, 2025

    Source: Reserve Bank of India


    (Amount in ₹ crore, Rate in Per cent)

      Volume
    (One Leg)
    Weighted
    Average Rate
    Range
    A. Overnight Segment (I+II+III+IV) 6,13,280.00 5.14 2.00-6.25
         I. Call Money 17,060.89 5.26 4.75-5.35
         II. Triparty Repo 4,00,746.10 5.11 5.00-5.26
         III. Market Repo 1,92,328.36 5.18 2.00-5.60
         IV. Repo in Corporate Bond 3,144.65 5.42 5.32-6.25
    B. Term Segment      
         I. Notice Money** 167.35 5.19 4.85-5.25
         II. Term Money@@ 1,465.00 5.30-5.70
         III. Triparty Repo 1,375.00 5.23 5.20-5.25
         IV. Market Repo 1,283.93 5.32 5.28-5.35
         V. Repo in Corporate Bond 0.00
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Mon, 07/07/2025 1 Tue, 08/07/2025 1,051.00 5.75
    4. SDFΔ# Mon, 07/07/2025 1 Tue, 08/07/2025 2,50,865.00 5.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,49,814.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Fri, 04/07/2025 7 Fri, 11/07/2025 1,00,010.00 5.47
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       5,987.11  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -94,022.89  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -3,43,836.89  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on July 07, 2025 9,30,865.97  
         (ii) Average daily cash reserve requirement for the fortnight ending July 11, 2025 9,52,318.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ July 07, 2025 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on June 13, 2025 5,62,116.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/674

    MIL OSI Economics

  • MIL-OSI Economics: [Interview] Staying Cool Without Refrigerants: How Samsung Is Pioneering Next-Generation Peltier Cooling

    Source: Samsung

    On June 28, Samsung Electronics, together with the Johns Hopkins University Applied Physics Laboratory (APL), published a paper on next-generation Peltier cooling technology in the prestigious scientific journal Nature Communications.
     
    The team successfully developed a high-efficiency thin-film semiconductor Peltier device  using nano-engineering technology and demonstrated refrigerant-free cooling, highlighting the potential to deliver outstanding performance without conventional refrigerants.
     
    Previously in 2024, Samsung Electronics opened a new chapter in refrigeration technology through the launch of the Bespoke AI Hybrid Refrigerator, which combines Peltier devices with high-efficiency compressors. Much like a hybrid vehicle, this system intelligently switches between the two cooling methods depending on what best suits the situation.
     
    While the Bespoke AI Hybrid Refrigerator marked a major step forward, the new thin-film Peltier technology developed with Johns Hopkins APL represents a leap into the future.  How will this newly unveiled innovation be applied to home appliances, and how will it shape the cooling technology of tomorrow? To find out, Samsung Newsroom spoke with Sungjin Jung from Samsung Research, who has led the technology’s development, and Hajin Jeong from the DA (Digital Appliances) Business at Samsung Electronics, who is working to integrate it into Samsung’s next-generation refrigerators.
     
    ▲ (From left) Hajin Jeong from the Refrigerator Platform Lab of Samsung Electronics’ DA Business and Sungjin Jung from Samsung Research’s Life Solutions Team
     
     
    Precise Temperature Control With Semiconductor Devices? Understanding the Principles Behind Peltier Cooling Technology
    Conventional refrigerators operate using vapor compression technology. In this system, refrigerant gas is compressed into a liquid and then repeatedly evaporated to absorb and release heat, thereby lowering the internal temperature. While this widely used cooling method has proven effective, the use of refrigerants raises environmental concerns, and there are limitations in reducing power consumption — making it a challenge to carry this approach into the future and adapt it to evolving needs. Additionally, the bulky compressors and complex mechanical components inherent in this system place constraints on refrigerator design.
     
    In contrast, Peltier cooling technology takes a different approach. As a semiconductor-based method that uses electricity to transfer heat, Peltier cooling utilizes the Peltier effect, in which an electric current passing through both ends of a Peltier device  causes one side to absorb heat while the other side releases it.
     
    ▲The Peltier effect
     
    Utilizing the Peltier effect, the surface that absorbs heat and cools can be placed inside the refrigerator, while the surface that releases the absorbed heat can be positioned outside — effectively lowering the internal temperature. The greatest advantage of this method is its precise control of heat flow using only electricity. In addition, its simple structure compared to refrigerant-based mechanical systems allows for greater flexibility in refrigerator design.
     
     
    Advancing Peltier Technology and Expanding Possibilities Through Global Collaboration
    In early 2023, Samsung Electronics ramped up cross-organizational collaboration — bringing together the DA Business, Samsung Research and Global Technology Research — to commercialize Peltier cooling technology and enhance its performance. The DA Business primarily focused on Peltier-technology-based product development, leading to the launch of the Bespoke AI Hybrid Refrigerator in early 2024. Samsung Research and Global Technology Research, meanwhile, drove technological advancement by developing high-performance Peltier devices with improved output and durability.
     
    Around the same time, Samsung Research also initiated global collaboration efforts to pursue breakthroughs in fundamental technologies. In late 2023, it partnered with Johns Hopkins APL in the United States eventually launching an eight-month-long full-scale joint research project in April the following year.
     
    The core objective of this joint research was to leverage Johns Hopkins University’s nano-thin-film Peltier device technology to boost the output of conventional milliwatt-class Peltier devices to several tens of watts, paving the way for a high-efficiency thin-film Peltier system suitable for integration into home appliances.
     
    ▲ Researchers from Samsung Research and Johns Hopkins APL (left); the high-efficiency thin-film Peltier device they co-developed (right)
     
    Over the course of the project, Samsung Electronics particularly demonstrated strengths in system design and packaging technology. As Peltier cooling involves simultaneous heat absorption and heat generation occur simultaneously on opposite sides of the device, performance can drop sharply if the temperature difference between the two sides is not minimized. During the process of applying the nano-thin-film Peltier devices — structured differently compared to conventional ones — directly to refrigerators, challenges such as increased contact thermal resistance, which hindered heat transfer, or unstable performance arose. As a result, packaging solutions that enable efficient heat transfer on both sides of the Peltier device became one of the core components in developing a high-efficiency Peltier cooling system.
     
     
    “We designed a new packaging method to become the world’s first to apply nano-thin-film Peltier devices to refrigerators.”
    – Sungjin Jung, Samsung Research, Samsung Electronics
     
    ▲ Sungjin Jung from Samsung Research
     
    “Through simulations and iterative testing, we identified the root causes of the issues and designed new thermal interface materials (TIM) and assembly techniques to enable efficient heat transfer,” Jung explained.
     
    This newly developed next-generation thin-film Peltier device boasts a cooling efficiency approximately 75% higher than conventional devices. By minimizing heat loss on each side of the Peltier device, the joint research demonstrated the potential for developing high-efficiency cooling appliances using the new technology.
     
     
    Bringing Peltier Cooling Technology Into Everyday Life
    With Samsung Research and Johns Hopkins APL having developed the next-generation Peltier cooling technology, it was now the DA Business’s turn to translate this technology into consumer products.
     
     
    “With this next-generation Peltier cooling technology, we plan to introduce an even more advanced hybrid refrigerator.”
    – Hajin Jeong, DA Business, Samsung Electronics
     
    ▲ Hajin Jeong from the DA Business
     
    In the Bespoke AI Hybrid Refrigerator Samsung launched in 2024, the compressor operates under normal conditions such as routine storage and retrieval, while the Peltier device activates alongside the compressor during high-load situations — like when storing large amounts of groceries or placing hot food inside — thereby enhancing both cooling performance and energy efficiency. Additionally, when defrosting frost inside the cooling unit, the Peltier device remains active, minimizing internal temperature fluctuations during the process.
     
    ▲ In the Samsung Bespoke AI Hybrid Refrigerator, a Peltier device is mounted at the top of the interior, while an AI Inverter Compressor is installed at the bottom.
     
    In sections where both cooling mechanisms operate simultaneously, optimal efficiency hinged on the layout design. “Since the compressor is located at the lower rear, we redesigned the interior structure to position the Peltier device at the top, where it wouldn’t be affected by heat interference,” explained Jeong.
     
    As a result, the refrigerator reduced power consumption by as much as 30% compared to the top grade of Korea’s energy efficiency rating labeling system,1 while also significantly improving its ability to maintain a stable internal temperature.
     
    The DA Business’ vision for hybrid refrigeration continues to evolve. Currently available only in select markets such as Korea, the U.S. and Europe, the company is accelerating joint development with Samsung Research to create models that can operate reliably even in hot and humid tropical regions such as India.
     
    With the application of Samsung’s next-generation Peltier cooling technology, the hybrid refrigerators of tomorrow are expected to deliver even greater cooling performance and energy efficiency. “Integrating this next-generation Peltier cooling technology into our existing hybrid refrigerators will enable more precise temperature control and further reduce power consumption,” said Jeong.
     
     
    Toward a Fully Refrigerant-Free Future
    Peltier cooling is also a technology for a better planet. Refrigerants commonly used in refrigerators can damage the ozone layer and contribute to global warming if released, prompting increasingly strict regulations in the U.S. and Europe. Against this backdrop, Peltier cooling technology is gaining recognition as a versatile, energy-efficient solution.
     
    Samsung Electronics has set a medium- to long-term goal of going beyond hybrid structures to develop a fully refrigerant-free refrigerator powered solely by Peltier cooling technology.
     
    “There’s still considerable research ahead before we can create a fully refrigerant-free refrigerator,” said Sungjin Jung . “Moving forward, we plan to unlock new possibilities in Peltier cooling by integrating other cutting-edge technologies such as AI, semiconductor processing and 3D printing into our work.”
     
    “The DA Business and Samsung Research are working in lockstep from a product development standpoint to perfect this next-generation technology and fast-track its commercialization,” added Hajin Jeong.
     
    ▲ (From left) Sungjin Jung and Hajin Jeong
     
    Samsung Electronics remains committed to not only innovating home appliances, but also transforming  the very paradigm of cooling technology. The future of refrigeration is being shaped by next-generation Peltier cooling — and the evolution is only just beginning.
     
     
    1 Based on the energy efficiency rating of the 2024 Bespoke AI Hybrid Refrigerator model RF91DB90LE**, as registered with the Korea Energy Agency. Compared against the minimum threshold for Grade 1 under the KEA’s energy efficiency rating labeling system.

    MIL OSI Economics

  • MIL-OSI Australia: Division 7A – benchmark interest rate

    Source: New places to play in Gungahlin

    Benchmark interest rates

    Under Division 7A of Part III of the Income Tax Assessment Act 1936, the ‘benchmark interest rate’ for an income year is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’. This is the ‘Housing loans; Banks; Variable; Standard; Owner-occupier’ rate last published by the Reserve Bank of AustraliaExternal Link before the start of the income year. The benchmark interest rate for an income year does not change if the Reserve Bank of Australia later revises its published rate after the start of the income year.

    Current and past benchmark interest rates

    These rates apply to private companies with an income year ending 30 June.

    A private company that meets certain requirements may adopt an income year ending on a date other than 30 June – a substituted accounting period. Those companies will need to determine the relevant rate.

    Benchmark interest rates – 2021 to 2026 income years

    Income year ended 30 June

    Rate

    ATO reference

    2026

    8.37%

    This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 6 June 2025.

    2025

    8.77%

    This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 7 June 2024.

    2024

    8.27%

    This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 7 June 2023.

    2023

    4.77%

    This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 2 June 2022.

    2022

    4.52%

    This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 2 June 2021.

    2021

    4.52%

    This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 2 June 2020.

    Substituted accounting period

    If a private company has adopted a substituted accounting period, the applicable benchmark interest rate is the ‘Housing loans; Banks; Variable; Standard; Owner-occupier’ rate last published by the Reserve Bank of AustraliaExternal Link before the start of the private company’s substituted accounting period.

    Example 1: substituted accounting period starting on 1 November 2022

    Company ABC has a substituted accounting period starting on 1 November 2022. According to the Reserve Bank of Australia website, the last interest rate published before 1 November 2022 was 6.77%. This was the rate for September 2022, published in October 2022. The benchmark interest rate for Company ABC’s income year starting 1 November 2022 is 6.77%.

    End of example

    Example 2: substituted accounting period starting on 1 May 2023

    Company XYZ has a substituted accounting period starting on 1 May 2023. According to the Reserve Bank of Australia website, the last interest rate published before 1 May 2023 was 8.02%. This was the rate for March 2023, published in April 2023. The benchmark interest rate for Company XYZ’s income year starting 1 May 2023 is 8.02%.

    End of example

    Access the Division 7A calculator and decision tool.

    This tool will help you determine the effects and your obligations on Division 7A – Loans by private companies.

    MIL OSI News

  • MIL-OSI New Zealand: Business gives clear backing to RSB

    Source: New Zealand Government

    Regulation Minister David Seymour is welcoming BusinessNZ’s strong support for the Regulatory Standards Bill as a means to deal with red tape and regulation.
    “After all the misinformed opposition we’ve heard, the people who get up in the morning to make an honest buck and deliver goods and services to New Zealanders want red tape and regulation dealt to and believe this Bill will help them do that. 
    “Submitting on the Bill at select committee today, BusinessNZ said it was an important step towards improving the quality of regulation and reducing the compliance burden on businesses by putting more scrutiny on politicians when law is made.
    “The academics who have been so loud about this Bill are so far removed from reality partly because many of Parliament’s damaging laws don’t frustrate their ability to make a living. If they were held back by red tape and regulation on a daily basis, like many businesses are, they would support this Bill.
    “Too often, politicians find regulating politically rewarding, and we need to make it less rewarding by putting more sunlight on their activities.
    “The Bill doesn’t stop politicians or their officials making bad laws, but it makes it transparent that they’re doing it. It makes it easier for voters to identify those responsible for making bad rules. Over time, it will improve the quality of rules we all have to live under by changing how politicians behave.
    “In a high-cost economy, regulation isn’t neutral – it’s a tax on growth. This Government is committed to clearing the path of needless regulations by improving how laws are made.”

    MIL OSI New Zealand News

  • MIL-OSI: NIO’s firefly brand taps HERE Technologies to power smart, connected EV journeys

    Source: GlobeNewswire (MIL-OSI)

    • firefly will use HERE’s high-quality map data in global markets to enhance advanced driver assistance and safety functions, including Intelligent Speed Assistance within the European Union.
    • Through its partnership with Telenav Inc., HERE provides firefly users with seamless in-car navigation, including real-time traffic updates, for a software-defined vehicle experience.

    Shanghai – HERE Technologies, the leading location data and technology platform, is proud to announce its collaboration with NIO’s latest car brand, firefly. HERE is providing firefly with high-quality map data and location services used to enhance the electric vehicle (EV) and advanced driver assistance systems (ADAS). The collaboration is focused on improving the safety, efficiency and overall driving experience of firefly’s intelligent EVs.

    firefly is NIO’s newest sub-brand, designed to bring premium EV technology to a broader audience with a focus on urban mobility, smart connectivity and safety. firefly will utilize the rich details within HERE global maps, including connected navigation and ADAS. Additionally, firefly will leverage HERE’s speed limit data, incorporating fresh speed limit information to support the Intelligent Speed Assistance (ISA) requirement across the European Union.

    Additionally, through HERE’s partnership with Telenav Inc., firefly will integrate a suite of HERE location services—enhancing digital cockpit and navigation experiences tailored for EVs, including real-time traffic insights.

    Chris Chen, Vice President of NIO Global Business Development said, “To bring firefly to Europe, we needed to collaborate with a partner who understands the complexities of global mobility. HERE is a trusted partner, providing us with the high-quality, automotive-grade location technology required to meet international safety and regulatory standards. With HERE’s expertise, we can ensure that firefly drivers experience the same seamless and intelligent mobility solutions, no matter where they are.”

    A pioneer and a leading company in the global smart EV market, NIO has rapidly expanded its footprint, delivering over 42,094 vehicles worldwide in the first quarter of 2025, marking a 40.1% year-on-year increase1 from the same period in 2024. With a strong presence in China and Europe, NIO continues to push the boundaries of intelligent electric mobility. The launch of firefly is set to accelerate this momentum, expanding NIO’s reach to a new segment of EV consumers.

    Deon Newman, Senior Vice President and General Manager for Asia Pacific at HERE Technologies said, “HERE is proud to support NIO in expanding its ecosystem with firefly. As Chinese EV brands scale their global presence, HERE is committed to equipping them with the AI-powered location intelligence solutions that set the global standard for automotive-grade live maps. Our collaboration with NIO underscores our dedication to enabling Chinese automakers in their export ambitions while delivering world-class driving experiences.”

    As HERE strengthens its presence in the Chinese automotive sector, this partnership highlights the company’s role in powering next-generation mobility solutions for global EV leaders.

    Media contacts

    firefly

    press@firefly.world

    HERE Technologies

    Vanessa Lee
    +65 9188 6199

    Vanessa.lee@here.com

    About firefly
    firefly is NIO’s answer to the global compact electric car market, further expanding NIO’s portfolio to drive growth efficiently. A sub-brand of NIO, firefly was officially launched in December 2024 and is to NIO a symbol of innovation and sophistication in a smaller package, building on NIO’s decade-long expertise in the premium electric vehicle market. Its first model, the ‘firefly’ – sharing the name of the brand itself, is a small, smart, high-end electric car with a key focus on design, safety, space, intelligence and energy efficiency for active urban lifestyle users. Sales will start in China in April 2025 before expanding to global markets. Learn more at www.firefly.world and on Instagram: firefly.car.

    About NIO
    NIO is a global smart electric vehicle company founded in November 2014. Dedicated to shaping a sustainable and brighter future together by providing high-performance smart electric vehicles and exceptional user experiences, NIO is the first car company listed on the NYSE, HKEX and SGX. NIO currently has three major brands under its umbrella: NIO, ONVO and firefly.

    Ten years into establishment, NIO is now one of the leading companies in the global premium smart electric vehicle market, committed to fostering its own research and development capabilities for core technologies. As of the end of September 2024, the company had filed for and obtained over 9,500 patents. Additionally, NIO has developed NIO Full Stack, a collection of 12 technology domains.

    NIO has R&D and manufacturing facilities in Shanghai, Hefei, Beijing, Nanjing, Shenzhen, Hangzhou, Wuhan, San Jose, Munich, Oxford, Berlin, Budapest, Singapore and Abu Dhabi. The company has also established sales and service networks in China, Norway, Germany, the Netherlands, Sweden, Denmark and the UAE.

    NIO Inc. currently offers eight premium smart electric vehicle models under the NIO brand and recently launched its first model under the ONVO brand as well as its first model under the firefly brand. As of November 30, 2024, NIO Inc. had delivered a total of 640,426 vehicles, leading the premium BEV segment priced above RMB 300,000. Learn more at nio.com.

    About HERE Technologies
    HERE has been a pioneer in mapping and location technology for 40 years. Today, HERE’s location platform is recognized as the most complete in the industry, powering location-based products, services and custom maps for organizations and enterprises across the globe. From autonomous driving and seamless logistics to new mobility experiences, HERE allows its partners and customers to innovate while retaining control over their data and safeguarding privacy. Find out how HERE is moving the world forward at here.com


    1 NIO Inc. Reports Unaudited First Quarter 2025 Financial Results | NIO Inc.

    Attachment

    The MIL Network

  • MIL-OSI Banking: Secretary-General of ASEAN meets with the Foreign Minister of Timor-Leste

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today held a bilateral meeting with Minister of Foreign Affairs and Cooperation of the Democratic Republic of Timor-Leste, Bendito dos Santos Freitas, on the sidelines of the 58th ASEAN Foreign Ministers’ Meeting (AMM) and Related Meetings, in Kuala Lumpur, Malaysia. Their discussion focused on Timor-Leste’s progress toward full ASEAN membership, following the ASEAN Leaders’ decision at the 46th ASEAN Summit to admit Timor-Leste as the 11th member of ASEAN at the upcoming 47th ASEAN Summit, scheduled for October 2025.

    The post Secretary-General of ASEAN meets with the Foreign Minister of Timor-Leste appeared first on ASEAN Main Portal.

    MIL OSI Global Banks

  • MIL-OSI Russia: 3,716 Foreign Businessmen in China’s Yiwu Granted Skilled Personnel Status

    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

    HANGZHOU, July 8 (Xinhua) — As of the end of June this year, 3,716 foreign entrepreneurs in Yiwu City, east China’s Zhejiang Province, had been granted the status of skilled personnel under a new assessment system launched by the local government. Among them, 37 were classified as Category A (foreign highly skilled personnel) and 3,679 as Category B (foreign professional specialists), according to the Yiwu City Science and Technology Administration.

    Yiwu has pioneered the creation of an innovative “foreign talent contribution evaluation system,” with key criteria including annual exports, job creation for local residents, and sustainable contribution to the regional economy.

    To qualify for Category A, foreign investors/entrepreneurs must meet conditions such as the company’s annual sales volume exceeding RMB 50 million (about US$6.99 million) with an individual annual salary of RMB 600,000 or more; or the company employs more than 10 local people and has 10 years of continuous individual work experience in Zhejiang Province with an annual income of RMB 600,000 or more.

    Category B is assigned if the company has such indicators as an annual volume of foreign exchange transactions of USD 500,000 or an annual foreign trade turnover of over 10 million yuan.

    According to the established rules, foreign personnel of category A receive 5-year work permits and priority processing of documents, and foreigners of category B receive work permits for a period of 2 to 4 years.

    Yiwu, known as the “supermarket of the world,” maintains trade links with more than 230 countries and regions around the world. More than 28,000 foreign traders visit here every day, accounting for about a fifth of the total number in Zhejiang Province. To further attract investment, the city launched this pilot program for foreign business personnel in September 2024. -0-

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

    .

    MIL OSI Russia News

  • MIL-OSI Russia: The role of BRICS as a pillar of a multipolar world is becoming critically important – Belarusian Foreign Minister

    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 8 (Xinhua) — The role of BRICS as a pillar of the multipolar world is becoming critically important, Belarusian Foreign Minister Maxim Ryzhenkov said in Rio de Janeiro during an extended session of the 17th BRICS summit. The corresponding information was published by the press service of the Belarusian Foreign Ministry on Monday.

    In his speech, M. Ryzhenkov noted that modern global challenges require not only strengthening of internal potential, but also a truly multilateral approach in international affairs.

    “Belarus sees the practical embodiment of this ideology in BRICS – an association based on equality, mutual respect and the search for collective solutions. Today, when outdated unipolar mechanisms demonstrate their ineffectiveness and politicization, the role of BRICS as a support for a multipolar world, as a foundation and an integral part of a fair world order is becoming critically important,” the minister emphasized.

    He also noted that the New Development Bank is the most important element of the emerging financial architecture of BRICS. Belarus sent an official request to join its members in March of this year.

    “Belarus’ geopolitical position in Eurasia opens up broad prospects for cooperation in logistics. Belarus is ready to become a platform for creating modern logistics hubs, where advanced technologies, including blockchain and the Internet of Things, will be used to build transparent and efficient supply chains,” the head of the Belarusian Foreign Ministry noted. -0-

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

    .

    MIL OSI Russia News

  • MIL-OSI Banking: Secretary-General of ASEAN meets with the newly-appointed Secretary of Foreign Affairs of the Republic of the Philippines

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today held a bilateral meeting with the Secretary of Foreign Affairs of the Republic of the Philippines, Ma. Theresa P. Lazaro, on the sidelines of the 58th ASEAN Foreign Ministers’ Meeting (AMM) and Related Meetings in Kuala Lumpur, Malaysia. Dr. Kao congratulated Foreign Secretary Lazaro on her recent appointment as the Secretary of Foreign Affairs of The Philippines. They exchanged views on issues of importance to ASEAN and discussed ways to advance ASEAN Community-building efforts, including the implementation of the ASEAN Community Vision 2045 and its Strategic Plans as well as the preparations for the Philippines’ ASEAN Chairmanship in 2026.

    The post Secretary-General of ASEAN meets with the newly-appointed Secretary of Foreign Affairs of the Republic of the Philippines appeared first on ASEAN Main Portal.

    MIL OSI Global Banks

  • MIL-OSI China: Vast pair-up program powers modern makeover of NW China’s Xinjiang

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

    Inside a brand-new workshop at a buzzing textile factory in Hotan, northwest China’s Xinjiang Uygur Autonomous Region, Zulaya Tursuntohti deftly handled the whirring spinning frames to produce fine cotton threads. Just months ago, this job, and her 3,500-yuan (about 489 U.S. dollars) monthly paycheck, did not exist.

    Hundreds of kilometers away, meanwhile, in Kashgar’s saline wastelands, farmer Turghun Yasen marveled at seedlings of silage corn springing up from once-barren soil.

    These snapshots reveal glimpses of the quiet engine powering China’s vast western region, namely a pair-up program where 18 provincial-level regions and the southern Chinese tech hub of Shenzhen have been creating jobs, improving skills and promoting unity in this northwestern frontier of the country.

    Workers arrange fabrics at a workshop of an industrial park in Hotan, northwest China’s Xinjiang Uygur Autonomous Region, June 27, 2025. [Photo/Xinhua]

    China has been implementing the “pairing assistance” program in Xinjiang since 1997. In 2010, a new round of pairing assistance was launched, involving central and state organs, centrally administered state-owned enterprises, and 18 provinces, municipalities and the city of Shenzhen.

    This cross-regional endeavor, which sees those involved channeling 80 percent of their annual assistance funds to county-level and grassroots projects dedicated to livelihood improvement, has become a national strategy vital for prosperity and stability in economic backwaters.

    Seeding self-sufficiency 

    “Providing money is good, but building a solid industry is better,” said a veteran aid official, capturing the essence of pairing assistance for Xinjiang — transitioning from dependency on external support to fostering endogenous growth momentum.

    Although Xinjiang is a major cotton-producing region known for its high-quality cotton, its textile industry faces several challenges due to its weak technological capacity and limited industrial upgrading.

    When the Beijing assistance team invited a Guangdong-based textile industrial internet company to Hotan last August, they brought more than just machinery. The company from south China instead fostered an integrated supply ecosystem, spanning e-commerce, fabric weaving and dyeing, as well as facilitating high-quality fashion garment production.

    Tursuntohti is among some 700 new employees for the first phase of the project. “I saw the job posting in February and decided to apply,” she said. Once fully operational, the project is expected to create more than 3,000 jobs, support over 200 apparel firms, and boost regional industrial output by more than 3 billion yuan annually, Huang Haoming, executive of the project, revealed.

    In 2024, the region’s cotton and textile industry had generated an output value of 220 billion yuan and provided jobs for over 1 million people.

    Meanwhile, agricultural scientists have targeted Kashgar’s highly saline-alkali wasteland. Faced with a desolate landscape, they introduced customized soil treatments — which have resulted in 200 mu (approximately 13.3 hectares) of silage corn springing to life via a seedling success rate of 95 percent, proving a lifeline for farmers like Yasen.

    “We used to watch seedlings die, but now our green fields yield corn, and we can even plant winter wheat to enrich the soil,” he said.

    A technician (2nd R) trains locally recruited agricultural workers at a smart workshop for plant cultivation in Aksu, northwest China’s Xinjiang Uygur Autonomous Region, June 25, 2025. [Photo/Xinhua]

    Ren Gengpo, a member of Shanghai’s assistance team who currently serves as deputy director of Kashgar’s bureau of industry and information technology, credited 29,000 local jobs to such locally-grounded projects capitalizing on regional strengths, including a “Chief Service Officer” system matching coastal expertise to Xinjiang’s resources.

    “More locals are securing steady jobs right in their neighborhoods,” Ren noted.

    Nurturing homegrown talent 

    At the remote county hospital of Habahe in Xinjiang’s Altay Prefecture, orthopedic scans now reveal fractures in precise 3D detail, while high-resolution color ultrasound makes for clearer and more intuitive diagnosis of pediatric conditions.

    “Smart diagnosis facilitates real-time data sharing between doctors, thus enabling cross-regional diagnosis that enhances medical care accessibility, upskills local clinicians, and cuts patient costs,” said Zhang Jing, a medical assistance practitioner from Jilin Province in northeast China, whose team has delivered many intelligent medical equipment items.

    Xinjiang’s development has long benefited from nationwide talent exchange endeavors. Today, notably, digital tools are transforming traditional aid models into scalable, tech-driven partnerships.

    When an aid team from east China’s Hangzhou, the country’s e-commerce, livestreaming, fintech and AI heartland, noticed youth in Aksu in Xinjiang hawking fruit on social media, they built an e-commerce incubator and partnered with top multi-channel network (MCN) agencies to train local talent.

    Mirzat Kamil, who returned home after seeing that many there were selling farm goods via live-streaming, joined the “Dandelion Project,” which enabled him to learn digital marketing skills and become a top regional e-commerce influencer within a year. “These training programs opened new doors for me,” he said.

    Mirzat Kamil promotes local agricultural products via live-streaming at a logistics park in Aksu, northwest China’s Xinjiang Uygur Autonomous Region, June 23, 2025. [Photo/Xinhua]

    “Local e-commerce talents like Kamil are planting seeds of prosperity across our region,” said Yang Zhe, Aksu’s e-commerce director. With Hangzhou’s support, Aksu has partnered with Alibaba and social e-commerce firm Yowant Technology to launch training programs. By 2024, more than 9,500 professionals had been trained — creating 30,000 jobs.

    Even classrooms have been transformed via “teacher studios.” Ni Yuan, a teacher from Tianjin Municipality in north China, who was posted to the first primary school of Qira County in Hotan to serve as its deputy principal, mentored local teachers like Sadinisa Abdulla while also launching art programs.

    “She raised our teaching quality through professional excellence,” Abdulla noted. “We’ve learned a lot from her.”

    Over the past five years, teachers in Xinjiang have received training on a total of more than 200,000 occasions.

    Henan Province in central China also deserves a mention here, having deployed scientists and engineers across multiple sectors, while providing skills training for more than 78,000 people in fields such as logistics and law.

    Weaving stronger bonds 

    In recent years, partnerships between Xinjiang and supporting provinces and cities have expanded from government projects to business and cultural exchanges. Beyond bricks, mortar and jobs, the pair-up program has strengthened ethnic unity — with all ethnic groups striving together like pomegranate seeds.

    When Abudushuqur Nurahmat, a middle school student from Kashgar’s Yecheng County, joined a study trip to Beijing last summer, Tian’anmen Square, the Forbidden City, the Great Wall and other places he’d only seen in textbooks came to life in vivid detail. “Watching the flag-raising at Tian’anmen Square made me feel incredibly proud,” he recalled.

    Since 2023, provinces and cities supporting Xinjiang have organized tens of thousands of local residents and youth from various ethnic groups to visit historical sites and top universities across China.

    Grassroots bonds have also flourished. Tianjin schools partnered with Hotan counties, Jiangxi in east China hosted football exchanges for ethnic minority juveniles from Kirgiz Autonomous Prefecture of Kizilsu, while Henan built 100 libraries in Hami honoring national role model Jiao Yulu, a county cadre known for his selfless devotion to the people.

    An aerial drone photo taken on July 4, 2025 shows a high school supported by Taizhou of east China’s Jiangsu Province, in Zhaosu, northwest China’s Xinjiang Uygur Autonomous Region. [Photo/Xinhua]

    In addition to such cultural exchanges, improved logistics have also helped to strengthen daily connections. At a Xinjiang product exhibition and sales center in the Guangdong-Hong Kong-Macao Greater Bay Area in south China, premium Xinjiang goods like walnuts, fruits and mutton flew off shelves. Meanwhile, in Kashgar, located 5,000 km away, customers can easily order Cantonese dishes, appliances and clothing online through the same cross-regional trade platform.

    Supporting provinces and cities have even pooled resources beyond assigned pairings. Musicians of the Cixi Celadon Ou Music Troupe from east China’s Zhejiang Province performed ancient melodies in Beijing-supported Hotan this June, an artistic bridge thrilling locals like Ibrahim Hamit. “The show was both an artistic treat and a profound experience of China’s rich cultural diversity,” he said, while adding that he was hoping for more such exchanges.

    Shandong Province, in east China, landed a 300,000-tonne titanium dioxide project in Shanghai-supported Bachu County, while Jiangsu, also in east China, paired with Ili in northern Xinjiang and helped launch 21 textile enterprises in southern Xinjiang. This innovative collaboration model combines funding, technology and expertise from supporting provinces with Xinjiang’s resources and policies — creating mutual benefits.

    “We’re helping Xinjiang grow its own future,” said a veteran aid official. 

    MIL OSI China News

  • MIL-Evening Report: It’s harder than you think to become a top sports official in football, soccer and the rugby codes

    Source: The Conversation (Au and NZ) – By Kath O’Brien, Senior Lecturer – Faculty of Health (School Exercise & Nutrition Sciences), Queensland University of Technology

    Brendon Thorne/Getty Images

    Sport officials, regardless of which code they supervise, are appointed to be impartial figures.

    They have to quickly interpret infractions, adjudicate rules and communicate commands, all while maintaining the highest levels of objectivity and sense – not to mention the fitness required.

    So, what does it take to become a sport official at the elite level, such as NRL referees or AFL umpires?

    And why do so many sports fans think these officials are at fault when their team keeps getting penalised?




    Read more:
    1 in 5 community footy umpires have been assaulted, while others cop death threats: new research


    It’s harder than you think

    Recently, there were calls for Ashley Klein to be stripped of officiating duties for the third and final rugby league State of Origin clash after NRL commentators queried a one-sided penalty count in the Maroons’ favour during game two in Perth.

    Likewise, the AFL recently faced criticism when video evidence revealed Collingwood’s Lachie Schultz had suffered a concussion, but the umpires in charge failed to stop play immediately, as they should have.

    Every week, fans also voice their displeasure at perceived injustices, whether that be at the ground, watching on TV or venting on social media.

    However, very few people fully understand the complexity or intricacies of what it takes to perform a sport official’s role, particularly at the elite level.

    Elite officials must have detailed rule knowledge, incredible physical and mental fitness and be composed regardless of crowd pressure. They must be able to instantly move on from any mistakes made.

    They also need situational awareness and a level of calmness to effectively supervise two groups of competitors fiercely battling against each other in these highly charged environments.

    Figuratively speaking, this can be like emergency department (ED) doctors or air traffic controllers, who are required to manage multiple events and competing task demands in a calm and consistent manner.

    Even though elite officials don’t work continuously for long hours like ED doctors or pilots – the total playing time of most of our winter sporting codes is generally between 90-120 minutes – the level of concentration, composure and mental toughness required is immense.

    Making good decisions when both players and the ball are constantly shifting position also requires exceptional game understanding and an ability to convey decisions that are appropriate to the game context.

    In other words, elite referees operate in situations in which time pressure, stress and high risk decision-making are always present.

    So who would want to perform a role where coaches, fans and some sections of the media continually question your knowledge, integrity and skills?

    Professional or part-time?

    Currently, of Australia’s major winter codes, only the NRL has a full quota of referees who are full time, paid professionals.

    Soccer’s A-League has a small group of full-time officials and an impressive number of top officials are part of FIFA’s panel of international referees. Yet, most A-League referees are part-time operators.

    Similarly, Rugby Australia has a small team of full-time professional referees who are appointed to Super League games and international matches not involving Australia, but most are part-timers.

    In the AFL, most umpires work part-time, with pressure mounting on the league to transition its umpires into full-time positions as ongoing criticisms over controversial decisions continue to grow.

    What elite officials get paid can be shrouded in secrecy but AFL field umpires reportedly earn A$120–130,000 each year while the best NRL referees earn more than $300,000 each season.

    Current pathways into the top level for most sporting codes require extensive apprenticeships in lower grades.

    To reach those top pay levels, extensive on-field experience in lower grades is required. Those who stand out are selected in high-performance squads where specialist coaching is provided.

    An often thankless task

    So, do you think you have what it takes to be an elite sports official?

    Could you maintain an optimal level of physical and cognitive performance while running at high speeds when you know every decision you make can be reviewed by video technology and re-watched in slow motion at one 25th of a second?

    It might be good to remember most decisions in sport are not black and white.

    Referees are human. They make mistakes. Sometimes they have to follow a policy or refereeing method they might not agree with.

    However, what we need to remember before we shout at them during a game is elite officials are trying to make games as fair, open, free flowing and entertaining as possible as they strive to impartially apply the rules of the game.

    Kath O’Brien 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. It’s harder than you think to become a top sports official in football, soccer and the rugby codes – https://theconversation.com/its-harder-than-you-think-to-become-a-top-sports-official-in-football-soccer-and-the-rugby-codes-259036

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Being kind to people – the new challenge for the public service

    Source: The Conversation (Au and NZ) – By Jennifer Smith-Merry, Director, Centre for Disability Research and Policy, University of Sydney

    When Labor was re-elected in May, Prime Minister Anthony Albanese used his acceptance speech to describe the type of country he wanted to lead.

    He spoke of how the Australian people had voted for fairness, aspiration and opportunity for all:

    For the strength to show courage in adversity and kindness to those in need. And Australians have voted for a future that holds true to these values.

    Prime Minister Anthony Albanese election victory speech declaring the Australian people had voted for Australian values.

    Noble sentiments from the prime minister.

    But can this translate into real change in government organisations? How much work do they have to do to live up to Albanese’s mantra of fairness and kindness towards those in need?

    Bureaucracy can be kind

    It is important our public institutions, such as the Australian Public Service, are kind, even when they are deciding who can access limited public resources.

    We conducted a review of academic research on organisational kindness to understand how organisations can be more generous to those they interact with.

    We discovered public service processes often lack kindness, which causes distress and sometimes significant harm. Many people would be familiar with unkind interactions with public services that should be there to serve us, but sometimes make us feel like an enemy.

    Kindness has positive benefits not just for the people being served, but for organisations themselves. Our research has found kindness contributes to profit, productivity, performance and favourable community perceptions.

    A kinder organisation is also a more trusted one, which is essential for any public service – funded by the public – to retain legitimacy.

    Lack of trust

    The National Disability Insurance Scheme (NDIS) is a case in point.

    Other research we have conducted shows individuals find it hard to apply for the NDIS.

    In part this stemmed from previous traumatic experiences with accessing government agencies, which resulted in a lack of trust in other public services.

    A study of NDIS participant experiences has also found complexity, poor communication, and confusing or inconsistent rules causes distress.

    Recent media coverage has focused on National Disability Insurance Agency (NDIA) decision-making processes that participants and families believe to be unkind. This includes surprise plan reviews where people feel unprepared and unsupported.

    Another example is the combative approach by the NDIA to people’s complaints, which makes complaining distressing and adversarial.

    Complaints are a legal, necessary aspect of a any organisation that services the public. But making it tortuous to complain is a lose-lose situation. It is not just unkind to the individual but problematic in effective running of public services.

    What makes public services unkind?

    Organisations may not set out to be unkind, but may become that way because of the way they work and think. They may see themselves in service of the public purse, rather than in service to the public.

    Particularly in times of budget constraint – such as the 8% growth cap to the NDIS – helping people access services may be seen as undermining cost savings goals. This can lead to practices that degrade or even demonise people who deserve help.

    Streamlining ways of working, cutting costs or even making decisions “fairer” by applying the same rules to everyone can be dehumanising.

    Individuals often face a “machinery of government” approach based on automated decision-making that lacks warmth and understanding, even where the decisions can be life-changing.

    This was most clear in the Morrison government’s Robodebt scheme. Assumptions were made about people based upon incomplete information gathered from administrative systems that did not fully reflect the lives of individuals. This had devastating consequences for many people, as outlined in the Royal Commission findings.

    Institutions may also be influenced by political narratives about deserving versus undeserving welfare recipients which prejudice how they are viewed. The “lazy dole bludger” is a classic trope.

    These narratives can result in unkind treatment when people need to access unemployment or disability benefits through Centrelink.

    How can public institutions be kinder?

    Being kind does not mean giving everyone everything they want, or even need.

    While hard decisions are sometimes necessary, they can be made in ways considerate of the people receiving the decision.

    We identified key barriers and enablers to organisational kindness.

    The main hurdles related to organisational culture and entrenched practices which make kindness difficult.

    Enablers for building a more generous approach include entrenching kindness as a core value within how organisational policies, processes and practices are structured.

    Kindness must be built into the organisational fabric not just enabled at the point of contact with individuals accessing the service.

    A kinder community

    The values of public services should reflect community values. However, sometimes communities lack kindness as an implicit value or, as noted in the earlier example about welfare recipients, may lack kindness towards particular groups.

    Broader kindness movements operating internationally include Kindness Singapore and Kindness UK. These movements aim to make kindness a core social value.

    Australian public institutions have received a strong cue from the prime minister that kindness should also be a core business value when serving clients, especially those in need.

    Jennifer Smith-Merry receives funding from the Australian Research Council through an Industry Laureate Fellowship. The National Disability Insurance Agency is a partner on that grant but had no involvement in this article. She is a member of the Grattan Institute Disability Program Reference Group.

    Damian Mellifont, Justin Scanlan, and Nicola Hancock do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Being kind to people – the new challenge for the public service – https://theconversation.com/being-kind-to-people-the-new-challenge-for-the-public-service-260068

    MIL OSI AnalysisEveningReport.nz