NewzIntel.com

Category: Business

  • MIL-OSI Economics: Claudia Buch: Simplification without deregulation – European supervision, regulation and reporting in a changing environment

    Source: Bank for International Settlements

    The environment in which European banks are operating is changing fast. Technology is evolving rapidly, transforming how financial services are delivered and information is processed. Banks need to adapt their business models to sustain their long-term profitability. The risk landscape has changed significantly; geopolitical uncertainty is high. This requires good risk management, supervision, and regulation. At the same time, the benefits of post-financial crisis reforms are increasingly being questioned, the current supervisory and regulatory framework is being criticised as excessively complex. A weakening of global rules that help keep the financial system safe and sound is a real risk.

    Simplification without deregulation requires strong guardrails. Simplification means maintaining resilience with a more effective and efficient supervisory and regulatory framework; deregulation means weakening regulation and supervision at the expense of resilience. In practice though, it can be difficult to draw a clear line between simplification and deregulation. The current rules are not there because the framework has intentionally been made too complex. Rules and procedures are there for a reason.

    Ensuring that simplification does not weaken resilience requires an evidence-based, European reform agenda that enhances efficiency and effectiveness.

    MIL OSI Economics –

  • MIL-OSI Economics: Tiff Macklem: The impact of US trade policy on jobs and inflation in Canada

    Source: Bank for International Settlements

    Introduction

    It’s a pleasure to be here in Newfoundland and Labrador. I want to thank the St. John’s Board of Trade for the invitation to speak to you today. There is no better place to talk about trade than a community of exporters. The sea routes that begin and end in St. John’s have helped feed, supply and build Canada and the world.

    Port cities are attuned to global commerce. And until recently, the global economy had been recovering well from the hard years of the pandemic. Canada, a country that depends on foreign trade, was benefiting. At the end of 2024, inflation in Canada had been close to the 2% target for months. Substantial interest rate reductions had boosted household and business spending, and exports were strengthening. The economy had renewed momentum.

    But then something happened. Since President Trump took office in January, the world has faced a dramatic escalation in tariffs and pervasive uncertainty. In Canada, trade has been disrupted and jobs have been lost. Businesses have re-evaluated their investment plans. Consumers have become more cautious. And Canadians have told us that they expect higher prices for many imported goods.

    The recent announcement that Canada and the United States agreed to negotiate a new economic and security relationship within 30 days is very welcome news. Restoring open trade between our countries is critical to jobs and growth in Canada. It is also important for prices and inflation.

    MIL OSI Economics –

  • MIL-OSI Economics: Jorgovanka Tabaković: Full support for a stable macroeconomic environment

    Source: Bank for International Settlements

    Dear colleagues, esteemed hosts, Mr Colangeli, Mr Petrović,

    Many times in life, everything seemed almost hopeless – bombing, COVID, many smaller or more personal crises – but life has always inevitably returned to normal. Never the same, but still normal. What is destroyed is rebuilt, what is broken is fixed, but only people remain permanently damaged by the behaviours they have experienced, and they remain outside of the normality that implies living in accordance with natural laws and cycles and in accordance with divine laws. And that is the greatest loss for humanity, but also for each individual. Especially for those for whom unnatural states offer an illusion of fulfilment – an illusion, and one of a limited duration. Anyone who doesn’t understand how illusory those feelings are – I reminded my fellow bankers yesterday – should read the book “The Circulation of Elites” by Vilfredo Pareto or Peter Turchin’s book on the hyperproduction of elites, of which there are more and more, while the seats in parliament, leadership positions in banks, and other institutions are limited in number. There is no room for everyone who believes they deserve a place in the elite.

    And now, a response to my friend and colleague, Mr Zoran Petrović:

    These days
    We owe a debt to future days
    and souls unborn
    Even if it means a sacrifice
    that won’t be recognised,
    acknowledged or cared for
    For it is only when good times pass
    heavy days come
    and people have none to blame
    that they will remember that someone     
    once knew how to create much from little
    because he respected even those
    who tripped him up
    and those who envied him
    They will recall the one who dared to stand    
    to guard his roots and take the future in his hands
    For he believed in humankind.
    The rage will pass, the children will grow
    The immature will learn what wise men know
    Some will always blame others
    for being somebody’s pawns
    for not realising in time
    that they lost much and gained little
    and that time – once gone – can’t be reclaimed.

    We won’t be able to recover what was missed in the first part of the year, but we will do our best to make up for everything that was lost.

    And before I move on to the topic of the state’s relationship with foreign investors – because of whom I put all other obligations aside to be here with you, just as I stand with you through every challenge you face – I would like to share some good news with you. News that illustrates how someone can always create something great from something small and leave it as a gift to the future. As of today, Serbia will have over 50 tonnes of gold in its FX reserves – and those who understand economics know that even the great Yugoslavia, since World War II, never had that much. This only illustrates what can be achieved with skill, knowledge and ability, as well as the determination not to let others do our job worse than us.

    Esteemed colleagues, honoured hosts,

    Let us remind ourselves of Adam Smith, and what he says in “The Wealth of Nations”:

    “It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest”, said Adam Smith. Everyone has their own interest and views movements from the perspective of their own interest, while the state is the one that considers the common good and works in the interest of all. When we go to the butcher, the baker, or anywhere else, we don’t address the humanity of the butcher or the baker. We don’t even appeal to their vanity, and we never talk to them about our needs. Instead, we speak about their advantages. For the most sustainable form of cooperation is one in which each side sees some benefit for themselves. This is the cooperation that endures. This does not mean that altruism does not exist, but it is most important to rely on predictable interests, rather than on good will.

    When we apply this in the context of investments and policies, while taking into account the specificities of the time in which we operate, contributing to investment growth requires that we first question ourselves on a personal level, and then collectively. If we simply wait for others to provide us with ideal conditions, without examining what we can do ourselves, then we are already set up for failure.

    In Serbia, we have ensured a favourable business environment, and it is up to the economy to take advantage of it – which it is doing successfully. Of course, when the period of the pandemic is analysed from a certain time distance, there will be individuals who will comment on what could have been done differently. Regardless of professional integrity, when evaluating any decision each of us must consider the context of the time and circumstances in which it was made. And that means we should draw lessons from everything that has happened and is happening, and never have a one-sided perspective. If, under difficult geoeconomic conditions, you manage to resolve inflation and ensure high growth in GDP, wages, and profits, while preserving fiscal parameters and FX reserves – I’d like to see the person who would say that Serbia doesn’t have good policies!

    What are the conditions?

    • We are working in a time of sudden and significant changes across all areas.
    • We are living in a time of growing divisions in the world – not only between economies but also within national economies – with increasingly pronounced social polarisation and a deepening gap between the rich and the poor.
    • We are making decisions in a period marked by forced measures, as a response to the measures of others, which were also imposed by necessity.
    • We are entering a new era in which the common denominator for all developments is uncertainty, and the source of success lies in creativity of approach!

    What should the responses be – global and local?

    • Cooperation instead of division;
    • Proactive rather than reactive policy;
    • Respect for the short term, but without losing focus on the long term and on sustainable growth;
    • The common good above personal interest!

    And let us not forget that, as important as it is to make a good decision, it is equally important to avoid making a bad one! And it is well known that investments are never bad; only our decisions can be such.

    Therefore, I will now talk about the investment environment in Serbia, global trends in investing, and our responses.

    Ladies and gentlemen,

    I assume that the first thing that comes to mind when someone mentions the National Bank of Serbia is not investment, although there is a direct and strong connection and interdependence. If we consider that a stable and predictable economic environment is the first pillar of sustainable investment, then the association is clear!

    Similarly, I believe that the relatively stable exchange rate of the dinar to the euro is the first association with the National Bank of Serbia, both for citizens and for the economy! And that stability, which makes decision-making and long-term project planning easier, is an important pillar of the investment environment.

    I also believe that the best answer to the question of whether we have created a favourable investment environment is provided by the data.

    • Fixed investment made up around 16% of GDP in 2014, while government investment stood at 2.2% of GDP. After ten years, fixed investment came to account for over 24% of GDP, and government investment exceeded 7.3% of GDP.
    • The implementation of investment projects has not only significantly improved the overall infrastructure, it has also had a multiplier effect on new investments.
    • The number of formally employed persons increased by almost 400 thousand and it is much easier to get a job today.
    • The unemployment rate, which used to exceed 20%, dropped to 8.6%, and youth unemployment rate was cut by more than a half.
    • The average GDP growth rate of Serbia over the past seven years of nearly 4%, and we are talking about real growth, speaks volumes about the environment we have created.
    • Even under the conditions of extremely challenging global circumstances and the slow recovery of external demand, our growth of 3.9% last year was one of the highest in Europe.

    A job well done is always the best marketing, and so Serbia’s image in the world has changed significantly.

    • Crucially, last year we obtained the status of an investment-grade country, a status we have long deserved.
    • And the fact that investors have long rated us as an investment-grade country is evident from the data, which shows that over the past seven years, an average of around EUR 4 bn in foreign direct investments have been invested in Serbia annually, or 6.8% of GDP on average. A record was set last year with EUR 5.2 bn.
    • Around 55% of these inflows go to export-oriented sectors, thus contributing to their growth even under conditions of anaemic external demand.
    • The fact that around 80% of foreign direct investments consist of investments in equity capital and reinvested earnings shows that investors in Serbia are expanding existing projects and launching new ones, despite the challenges in their home markets.  These investments simultaneously bring new technology and more modern equipment, as well as new knowledge, which has also enabled the growth of overall factor productivity.

    And when individuals – because they truly are few – ask us whether we are able to maintain stability without depleting FX reserves, and how long we can defend the exchange rate, I respond with a question: And did anyone believe that Serbia, during fiscal consolidation, when everyone predicted a decline in GDP, would achieve growth? We  achieved growth, just as during the pandemic we experienced the smallest decline in GDP compared to all other economies. These are the results of well-calibrated policies and the recognition of opportunities, which are based on the diversification of markets, sources of financing, and projects.

    Moreover, it is a fact that no one can dispute, that our FX reserves are at an exceptionally high level, measured by all criteria, and they cover nearly seven months of goods and services imports! In the reports of all rating agencies, one of the key elements that positively distinguishes us from countries with comparable credit ratings is precisely the high level of FX reserves, which we have built over the past more than ten years.

    No less important – we have become part of SEPA, for which we have long been prepared, but now we have the opportunity to make payment transactions with EU countries as well more efficient and cheaper. I say payment transactions with EU as well because we have long introduced in the domestic payments, which account for the majority of daily payments by citizens and businesses, the most modern services based on transactions that are completed in just 1.2 seconds. We have also developed a modern DOMESTIC payment card, taking care about the independence and reliability of the national payment system. And what is the EU doing now? It is developing its own card system, not wanting to depend on other systems and their operational stability.

    For our DinaCard, we have carefully selected partners, guided by the goal of international functionality, but also full security and independence of our system. We have achieved this through a partnership with Discover, which will positively impact the economy of Serbia, primarily merchants, who will now be able to accept payments by these cards, issued anywhere in the world.

    Ladies and gentlemen,

    I said that we follow all relevant global trends, including global investment trends. We analyse where global capital is going today as the world rapidly changes under the influence of technological transformation, energy transition, and geopolitical tensions, because investments have never been evenly distributed across regions, sectors, or asset types. We are in a phase of structural capital reallocation on a global level.   

    One trend that stands out is digital transformation and the overwhelming allocation of the majority of capital towards artificial intelligence, cloud technologies, big data, cybersecurity, and fintech. These are no longer sectors of the future; they are the sectors of today, and here, funds from the United States and China dominate. In Serbia as well, the IT sector is experiencing strong growth, as seen in the export value of EUR 4.13 bn last year, which is ten times higher compared to ten years ago, when it was only around EUR 400 mn. The fact that its share in total service exports has increased from around 12% to nearly 29% confirms that this is substantial growth.

    Another direction is green and sustainable investment, focusing on renewable energy sources such as solar, wind, and hydrogen, with funds also turning towards regenerative agriculture. Serbia’s potential in this area is significant, and investments are increasingly following environmental, social, and governance standards.

    The third trend is regionalisation, or investing closer to home markets (nearshoring), as a result of supply chain disruptions caused by the outbreak of the pandemic and the energy crisis. Shifting production closer to the European market opens up opportunities for countries like Serbia, which has an excellent geographic location, much like our DinaCard, which is expanding both East and West. Many companies are increasingly choosing Serbia as a manufacturing hub precisely for this reason, but especially because of the skilled workforce and free trade agreements with many countries, in whose conclusion a great deal of effort has been invested.

    The fourth trend is infrastructure projects and the return of the state as an investor, including investments in infrastructure: roads, railway, energy, telecommunications, and digital infrastructure… Serbia stands out in this regard with strong investments in all parts of the country. I would like to remind you, Mr Colangeli, of the presentation of the EBRD’s Transition Report, which dealt with navigating industrial policy, where you stated that by establishing good infrastructure, such as roads, railway, electricity, and the internet, Serbia facilitated investment and the opening of factories in its less developed regions. Such a policy has contributed to reducing regional income inequality, which is a goal as important as the quality of investments.

    However, one of the important questions is: what next?

    When it comes to the National Bank of Serbia, investors, as well as all agents in the country’s economic system, can count on our full support for a stable macroeconomic environment.   

    • According to our May projection, inflation will continue to slow down  and by the end of the year approach the target midpoint of 3% – the level around which it will hover until the end of the projection horizon.  The data for May inflation, according to our now-cast model, support such an outcome, and I believe the data to be released on Thursday will confirm this.
    • In June last year, we began to ease monetary policy at a cautious pace, assessing that it should remain restrictive for some time yet.
    • Caution is important always, but even more so today when we are witnessing pronounced volatility in global commodity and financial markets. In such circumstances, it is expected that global inflation will decline somewhat more slowly, and that global economic growth will be lower due to disruptions in trade flows and production chains, as well as weaknesses in key growth drivers such as foreign trade, investments, and consumption.
    • In Serbia, past monetary policy easing has fully passed through to interest rates in the money market and dinar lending market, while the easing of the European Central Bank’s monetary policy has affected the price of euro borrowing. With the growth in credit demand due to the increase in disposable income, we have a y-o-y growth in credit activity of 10.5% in April, which is also one of the channels supporting investments.

    Ladies and gentlemen, Mr Colangeli, Mr Petrović,

    I will reiterate that a job well-done is the best marketing, and also the best indicator as to how we will work in the future.

    I will repeat today that for the continued growth and development of every economy and society, including ours, stability and business certainty are key. Therefore, we must preserve stability in a challenging and competitive global environment, where changes are happening faster than ever in all areas of life and work! Without it, even the best-designed investment policies will not yield sustainable results!

    On behalf of the National Bank of Serbia, I can promise:

    • that relative exchange rate stability has no alternative,
    • that we will support every investment that is in the interest of Serbia and our citizens.

    We carefully follow all the creativity of the new era and respond cautiously – so that no measure becomes a target for us.

    And let us never forget those who laid the foundations of the market economy, as I began with Adam Smith: The baker does not bake bread because he wants to feed us, but because he wants to make a profit. May our cooperation continue as honestly and openly as that.

    I thank you and wish you a successful conference!

    MIL OSI Economics –

  • MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – ME GROUP INTERNATIONAL PLC – Ordinary Shares

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1. KEY INFORMATION  
       
    (a) Full name of discloser: Dimensional Fund Advisors Ltd. in its capacity as investment advisor and on behalf its affiliates who are also investment advisors (”Dimensional”). Dimensional expressly disclaims beneficial ownership of the shares described in this form 8.3.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		    
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates:
    Use a separate form for each offeror/offeree    		 ME GROUP INTERNATIONAL PLC  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:    
    (e) Date position held/dealing undertaken:
    For an opening position disclosure, state the latest practicable date prior to the disclosure    		 18 June 2025  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”    		 N/A  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: 0.5p ordinary (GB0008481250)  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 4,546,352 1.21 %      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 4,546,352 * 1.21 %      
    * Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 16,966 shares that are included in the total above.  
       
    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    		  
       
       
    (b) Rights to subscribe for new securities (including directors’ and other employee options)  
       
    Class of relevant security in relation to which subscription right exists:    
    Details, including nature of the rights concerned and relevant percentages:    
       
    3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE  
       
    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    		  
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
             
       
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
     
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including subscribing for new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)  
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (b) Agreements, arrangements or understandings relating to options or derivatives  
       
    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i) the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (c) Attachments  
       
    Is a Supplemental Form 8 (Open Positions) attached? NO  
       
    Date of disclosure 19 June 2025  
    Contact name Thomas Hone  
    Telephone number +44 20 3033 3419  
       

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – ME GROUP INTERNATIONAL PLC – Ordinary Shares

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1. KEY INFORMATION  
       
    (a) Full name of discloser: Dimensional Fund Advisors Ltd. in its capacity as investment advisor and on behalf its affiliates who are also investment advisors (”Dimensional”). Dimensional expressly disclaims beneficial ownership of the shares described in this form 8.3.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		    
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates:
    Use a separate form for each offeror/offeree    		 ME GROUP INTERNATIONAL PLC  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:    
    (e) Date position held/dealing undertaken:
    For an opening position disclosure, state the latest practicable date prior to the disclosure    		 18 June 2025  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”    		 N/A  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: 0.5p ordinary (GB0008481250)  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 4,546,352 1.21 %      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 4,546,352 * 1.21 %      
    * Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 16,966 shares that are included in the total above.  
       
    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    		  
       
       
    (b) Rights to subscribe for new securities (including directors’ and other employee options)  
       
    Class of relevant security in relation to which subscription right exists:    
    Details, including nature of the rights concerned and relevant percentages:    
       
    3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE  
       
    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    		  
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
             
       
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
     
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including subscribing for new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)  
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (b) Agreements, arrangements or understandings relating to options or derivatives  
       
    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i) the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (c) Attachments  
       
    Is a Supplemental Form 8 (Open Positions) attached? NO  
       
    Date of disclosure 19 June 2025  
    Contact name Thomas Hone  
    Telephone number +44 20 3033 3419  
       

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI Economics: Huawei and China Telecom Win TM Forum’s Excellence Award 2025 in Data and AI Innovation

    Source: Huawei

    Headline: Huawei and China Telecom Win TM Forum’s Excellence Award 2025 in Data and AI Innovation

    [Copenhagen, Denmark, June 18, 2025] At the Digital Transformation World (DTW) 2025 hosted by TM Forum, the project AI Agents Driving New Era of O&M and Transforming Customer Experience jointly created by Huawei and China Telecom won the Excellence Award 2025 in Data and AI Innovation. This prestigious international award is a testimony to the industry’s recognition of their efforts in integrating AI with communication technologies.

    Huawei and China Telecom win the excellence award in data and AI innovation

    Implementing the AI+ Strategy and Making Groundbreaking Joint Innovations
    China Telecom has spent years fine-tuning their AI+ strategy. Collaborating with its strategic partner Huawei, China Telecom established the Future Agent Joint Innovation Center to explore the application of network foundation models and agents in cloud-network operations. Through substantial advancements in key technologies like domain-specific model training and chain-of-thought optimization, the two companies have developed and deployed the Home Broadband Installation and Maintenance Agent and the Wireless Network Optimization Task Model. These developments have significantly enhanced O&M efficiency and helped upskill O&M personnel.
    Agent Applications Yield Outstanding Results and Boost Service Efficiency
    China Telecom reports that it has developed a range of AI assistants and agent applications based on its network foundation model. By the end of 2024, the total number of service invocations exceeded 46 million, with monthly active users reaching 120,000. In addition, 39 ecosystem partners have utilized these tools to create more than 2,000 AI applications. The Home Broadband Installation and Maintenance Agent revolutionizes service experience through two key innovations:

    Customer self-service: This agent supports real-time consultation and self-service troubleshooting, shifting the service model from reactive response to intelligent interaction.
    O&M efficiency: This agent assists installation and maintenance personnel in accurately locating faults, shortening the troubleshooting duration by 30% and reducing the workload of inquiry center experts by 10%. It is now applicable in all home broadband, IPTV, and home Wi-Fi scenarios. Online self-service channel usage has risen by 10%, enabling tens of millions of households to enjoy intelligent services with instant responses and zero wait times.

    The Wireless Network Optimization Task Model elevates traditional localized performance optimization, which relies on expert experience, to global experience optimization using high-precision network simulation and intelligent parameter adjustment. This enhances both quality and efficiency. In pilot regions, user experience has improved by 10% to 15%, the handling time of typical issues has reduced by 20% to 30%, and the test workloads in poor-QoE areas have decreased by 10% to 15%.
    Leading Technical Standards and Building an Industry Ecosystem
    Huawei and China Telecom have improved the accuracy of the foundation model and the success rate of agent tasks, significantly enhancing the effectiveness of AI applications. In addition, China Telecom, along with TM Forum and Huawei, has developed several standards, including lifecycle management for foundational models and technical specifications for AI agents. These standards aim to transform innovative practices into industry-wide frameworks, and expedite the intelligent transformation of the global ICT sector.
    Prospects
    This award underscores the leading role of Huawei and China Telecom in the AI+network domain. Both companies have committed to deepening their strategic partnership, driving technological innovation and standards development, and strengthening the digital transformation of the global communications industry.

    MIL OSI Economics –

  • MIL-OSI Africa: Africa Future Hospitality Summit underway in Cape Town

    Source: South Africa News Agency

    Western Cape MEC for Agriculture, Economic Development, and Tourism, Dr Ivan Meyer, has welcomed delegates from across the world to the Future Hospitality Summit Africa which is currently underway in Cape Town.

    For over a decade the Future Hospitality Summit Africa – previously known as AHIF – has served as a launchpad for hospitality investment across the continent, driving growth, connecting visionaries, and transforming Africa’s tourism and hospitality landscape. 

    The summit, which began on Tuesday at the Cape Town International Convention Centre (CTICC), gathers global investors, developers, operators, and industry leaders who are dedicated to turning potential into reality. The summit concludes on Thursday, 19 June.

    In his address, Meyer emphasised the province’s dynamic role in shaping the future of the hospitality and tourism sectors.

    “Cape Town is not just a backdrop; it is a beacon of possibility. But our world-class infrastructure, stable governance, and vibrant economic ecosystem make the Western Cape Africa’s gateway to investment,” Meyer said. 

    The MEC also touched on the upcoming Western Cape Investment Summit 2025, which is set to take place from 5-7 November.

    This summit serves as a transformative platform aimed at connecting global capital with high-impact opportunities.

    Aligned with the province’s Growth for Jobs Strategy, the summit seeks to attract R200 billion in direct investment, to develop an inclusive R1 trillion economy that grows at an annual rate of 3-5% by 2035.

    According to the provincial department, the hospitality and tourism sectors are essential components of this vision.

    In April 2025, Cape Town’s hotels recorded an impressive occupancy rate of 72.5%, along with a 20.1% year-on-year increase in revenue per available room (RevPAR).

    Meanwhile, the luxury properties led the charge, reinforcing the city’s status as a global tourism hub.

    The summit will showcase investment-ready projects across nine sectors, with tourism and hospitality offering premium experiences, cultural capital, and tech-driven innovation. 

    The gathering will provide streamlined regulatory support, expedited approvals, and direct access to key decision-makers.
    Meyer concluded with a call to action to join the Western Cape Investment Summit 2025, aiming to shape the future of hospitality and tourism in Africa.

    “Together, we can create jobs, uplift communities, and position the Western Cape as Africa’s investment leader.” – SAnews.gov.za
     

    MIL OSI Africa –

  • MIL-OSI Video: What to expect from the ‘Summer Davos’ AMNC; and what the West gets wrong about China

    Source: World Economic Forum (video statements)

    The Annual Meeting of the New Champions 2025 – AMNC25 – will bring together leaders from government, business and academia, along with innovators and representatives from international organizations, media and civil society.

    In this special episode produced in collaboration with Caixin Global, World Economic Forum Managing Director Mirek Dusek sets the scene for the ‘Summer Davos’ in Tianjin, China. And Jen Zhu Scott, founding partner of IN. Capital, gives an insider’s view of China and its place in the world.

    Co-hosted by Li Xin, managing editor of Caixin Global.
    Catch up on all the action from AMNC25 at wef.ch/amnc25 and across social media using the hashtag #AMNC25.

    Links:
    AMNC25: https://www.weforum.org/meetings/annual-meeting-of-the-new-champions-2025/
    Caixin Global: https://www.caixinglobal.com/

    Related podcasts:
    Getting sustainable, secure and equitable power to the people – how’s the global energy transition going?
    Stock markets and supermarkets: how business is deploying AI
    “Trillions of dollars added to the economy” – Google’s chief economist on the macro impact of AI

    Check out all our podcasts on wef.ch/podcasts:
    YouTube: – https://www.youtube.com/@wef/podcasts
    Radio Davos – subscribe: https://pod.link/1504682164
    Meet the Leader – subscribe: https://pod.link/1534915560
    Agenda Dialogues – subscribe: https://pod.link/1574956552
    Join the World Economic Forum Podcast Club: https://www.facebook.com/groups/wefpodcastclub

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/ 
    Twitter ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #WorldEconomicForum

    https://www.youtube.com/watch?v=3_P1lDw-4t0

    MIL OSI Video –

  • SAIL supplies entire special steel requirement for Indian Navy’s INS Arnala

    Source: Government of India

    Source: Government of India (4)

    In a significant boost to India’s defence self-reliance efforts, Steel Authority of India Limited (SAIL) has supplied the complete requirement of special steel for the Indian Navy’s first indigenously designed and built Anti-Submarine Warfare Shallow Water Craft (ASW-SWC), INS Arnala. The vessel was commissioned into the Indian Navy on Wednesday.

    The steel supplied by SAIL has been used entirely in the construction of INS Arnala, reflecting a major stride in the country’s journey towards indigenisation and reduced import dependency in the defence manufacturing sector.

    INS Arnala is the lead ship in a series of eight ASW-SWC corvettes being constructed by Garden Reach Shipbuilders and Engineers (GRSE), Kolkata. SAIL has provided the complete special-grade steel requirement for all eight vessels under this project.

    As a Maharatna Public Sector Undertaking and the largest steel producer in India, SAIL has consistently supported the nation’s defence infrastructure. The company has played a vital role in several indigenous defence projects. In addition to INS Arnala, SAIL has previously supplied special steel for notable naval platforms such as INS Vikrant, INS Vindhyagiri, INS Nilgiri, and INS Surat.

  • MIL-OSI United Kingdom: Peter Kyle’s speech at Giant Ideas

    Source: United Kingdom – Executive Government & Departments

    Speech

    Peter Kyle’s speech at Giant Ideas

    Secretary of State for Science, Innovation, and Technology, Peter Kyle, delivered a speech at the Giant Ideas event on Monday 16 June 2025.

    I speak to you having just wrapped up what was, in my department, one of the biggest weeks of the year.

    It was the outcome of the Spending Review.

    The Data Bill, after months, passed into law. And it was also London Tech Week.

    If you haven’t been before, think of it like Coachella. But swap Lady Gaga for tech founders in leather jackets, blue jeans and Britney mics.

    This was my 2nd Tech Week, but this year felt different.

    Not just because it was my first as Tech Secretary.

    But because the atmosphere had changed.

    The optimism was more tangible. The energy more urgent.

    The atmosphere in Olympia more excited and exciting.

    Nowhere was that excitement more obvious than when it came to securing the UK’s stake in a future shaped by AI.

    You had the Prime Minister announcing a £1 billion investment, to make our computing power 20x greater by 2030.

    You had buzz from international investors. Who have poured £45 billion into AI here since July.

    And you had Jensen Huang, CEO of Nvidia, declaring that the UK had reached a ‘Goldilocks’ moment: When our combination of world-class universities, AI start-ups and sheer ambition makes Britain ‘Just right’ as an investment destination.

    It won’t surprise you to know that I agree.

    We will turn our country into an AI superpower. But our ambition alone won’t define us.

    What will define us is how we achieve that ambition. Last week, I was reminded of the question in my mind the day I came into office:

    How do we shape the future of AI in a way that is progressive? In a way that leaves no one behind?

    Because we tend to talk about AI as an unstoppable force.

    But progress is never inevitable. It can be halted in its tracks.

    Fourteen years of slow or no growth, declining family incomes and a decaying public realm prove that. How change happens – and who benefits – is up to us.

    We have agency over what the age of AI looks like.

    It could be a Wild West Story, where the strongest and boldest make most – and the rest make do.

    Or it could be a story about opportunity and security. Where we all benefit from the scope and scale, health and wealth of the progressive change it brings.

    The way I see it, we can use our agency to shape 3 things:

    • Where we build.

    • Who does the building.

    • And what products come out the other side.

    Let me take each in turn.

    First, where we build.

    Where we build

    Technology has always promised to be the great equaliser.

    But that promise has proved elusive. For decades, the way we have invested in technology has been a tale of 2 Britains:

    Growth concentrated in the wealthiest parts of our country.

    With communities elsewhere left dependent on traditional industries.

    This time, we can do things differently.

    The unique geography of AI turns our country’s economic map on its head.

    The places that languished in the wake of 1980s de-industrialisation make prime locations for AI infrastructure. Because they’re often the only places that can supply enough power. And enough space to exploit it.

    These are the areas we’ll be looking to prioritise as we create AI Growth Zones: Hotspots of infrastructure that will crowd in private investment.

    When we asked communities to put themselves forward, over 200 places enthusiastically responded. The hunger for AI is not just coming from government and big businesses. But from across Britain.

    For the places that qualify, the results will be transformative. Because I’m not talking about a data centre as an anonymous black box by the side of the motorway. An economic island cut off from the surrounding area, with very few jobs and opportunities for working people.

    But as a hub that attracts AI start-ups and scale-ups.

    Creates new campuses for training and knowledge-transfer.

    And starts a ripple effect of good, future-proofed jobs, with all the economic security that brings.

    Where the excess heat from that data centre is not wasted. But used to power local homes, boost agricultural production, warm community swimming pools.

    For that vision to work, local people must be at the core.

    That takes me to who does the building.

    Who does the building

    A progressive approach to AI is impossible without a population with the skills to be part of it.

    We have to equip people with what they need to seize the extraordinary opportunities this technology brings.

    A few days ago, the Prime Minister kick-started a national AI skills drive. It will upskill people at every age, every stage of education, across the country.

    From new funding for TechFirst, giving students in every secondary school in Britain the chance to start a career in tech. To a partnership with industry, equipping 7.5 million UK workers with essential AI skills by 2030.

    These are exciting, decent jobs in the industries of tomorrow, for Britain’s prosperous communities of the future. If we can show people that, we will persuade them that it pays to be shapers of AI.

    I want to show them that it pays to be consumers of it, too.

    That takes us to what we build.

    What we build

    We sometimes talk about AI in a way that’s removed from real life.

    Abstract headlines about ‘growth’ or ‘revolution’ don’t give people much to hold on to.

    I want to show people that AI isn’t just an idea for the newsroom or the boardroom. But a reality in the classroom, the doctor’s office, the operating theatre. Because across the UK, there are researchers and companies using AI for the public good.

    Last week, I announced a project called OpenBind.

    At the Harwell Science Campus in Oxford, our best scientists will come together. To build the world’s biggest set of data on how drugs interact with the proteins in our bodies. Better data means better AI models. Models that can predict which compounds will turn into cures. As Demis Hassabis said himself, this is a brilliant initiative for UK science.

    Breakthroughs we make here could cut the cost of developing treatments by up to £100 billion. And see us not just treating disease. But beating it for good.

    I began by arguing that the state has agency over how we build AI.

    Perhaps the ultimate way to use it is by not only by backing others who build it. But by building it ourselves. With a smarter, smaller state that works better for the people we’re here to serve. Take the AI-powered chatbot we’ve built for GOV.UK.

    Soon, you won’t have to trawl through 500,000 pages to apply for Universal Credit or work out your tax code. The answer will come to you. Giving people more time to do the things they like with the people they love.

    It isn’t always easy to explain to people what AI means for them.

    With tools like this, we don’t need to tell them.

    We can let them discover the power of AI for themselves.

    As we find ourselves in the ‘Goldilocks’ moment, there is no time to waste.

    We have a small window to decide how this revolution will differ from those which came before.

    To make sure this isn’t the same tale of 2 Britains.

    By building in the places that have been left behind for too long. By giving everyone in the country the opportunity to do well, for themselves and their families, in the digital age.

    And by building things that make their lives easier, healthier, happier.

    The agency to do all of those things sits with us. We’ve just got to have the courage and the conviction to use it, positively and progressively.

    To create opportunity and security for all.

    For me, that really is the Giant Idea.

    Updates to this page

    Published 19 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: expert reaction to a meta-analysis looking at the effect of Rapamycin, Metformin, and dietary restriction on lifespan in vertebrates

    Source: United Kingdom – Executive Government & Departments

    A meta-analysis published in Aging Cell looks at the effect of Rapamycin, Metformin, and Dietary Restriction on non-human vertebrate lifespan.

    Dr David Clancy, Lecturer in Biogerontology, Lancaster University, said:

    “Diet restriction seems to extend lifespan significantly but is hard to do, and certainly no fun. So Ivimey-Cook et al decided to look at hundreds of datasets across 8 species of vertebrate which examined lifespan effects of diet restriction (DR), the immune suppressant drug rapamycin and the diabetes drug metformin. Both drugs have been extensively tested for lifespan extension. The closest species to humans were rhesus monkeys (4 studies) and the furthest from humans were fish (4 studies). The most common were mice and rats (210 studies).

    “This well-done study showed DR and rapamycin extending lifespan with significant consistency across studies, in both sexes, DR probably a little greater than rapamycin. However metformin did not. That is a pity for the many people now taking off-label metformin for lifespan extension. Let’s hope it doesn’t have any or many adverse effects.

    “Rapamycin is used mainly as an immune suppressant in kidney transplant. Oddly it may be slightly toxic to kidneys in humans but has not been tested in non-renal patients, and not over the long term as in these lifespan studies. Early experiments in flies and worms show that it needs the cell process known as autophagy to exert its lifespan extension. This is the process whereby cells ‘clean’ themselves of damaged and misfolded proteins and other damaged biomolecules and cell components and recycle them. Unsurprisingly research is looking for stimulators of autophagy (which DR achieves, and exercise), and is searching for ‘rapalogues’ – molecules similar in action to rapamycin but ideally smaller, less complex molecules with no immune system or other ‘off-target’ effects.”

     

    Prof Dame Linda Partridge, Professorial Fellow, UCL, said:

    “This meta-analysis of published studies of the effects on vertebrate animals of dietary restriction (DR) and two licensed drugs, metformin and rapamycin, finds that only DR and rapamycin consistently extend lifespan. They do so to about the same extent and with similar effects in males and females. Dietary restriction is long established as ameliorating many of the adverse effects of ageing, The discovery of lifespan extension from rapamycin is more recent. In mice irapamycin also holds back several ageing-related pathologies. The finding that DR and rapamycin have effects of similar magnitude on lifespan across species implies that rapamycin is a candidate for repurposing for prevention of ageing-related pathologies in humans. Other licensed drugs may be similarly geroprotective, and more work is needed to investigate their potential to prevent deterioration of health in older people. Given that many of the candidate drugs are off patent, public and charity funding may be needed to investigate the potential of these drugs for prevention of age-related diseases.”

     

    Prof Lynne Cox, Associate Professor of Biochemistry, University of Oxford, said:

    “Research into ageing understandably attracts a lot of public interest. For most people, retaining their health is more important than the exact length of time they live, but it is also the case that increased lifespan usually reflects better health, and in the scientific laboratory, lifespan (time from birth to death) is clear and easy to measure.

    “Dietary restriction (DR, i.e. cutting down on overall food intake, reducing calories or undertaking periods of fasting) has been widely reported to increase lifespan in experimental animals. But it is very hard for people to achieve DR for long periods, and in fact research suggests that it is actually harmful for older adults to cut down on how much they eat.

    “Scientists have therefore looked for ways of achieving lifespan extension without having to stick to a highly restrictive diet, using drugs that might mimic DR, particularly rapamycin and metformin. Each drug has been reported to increase lifespan in multiple scientific reports. In this new study, the researchers compare results from 167 scientific papers studying the effect on lifespan of dietary restriction, metformin or rapamycin. They conclude that DR and rapamycin (but not metformin) increase lifespan in all vertebrate species analysed, and that males and females equally benefit.

    “The difficulties these researchers encountered when trying to find original raw data highlights a major problem in the ageing field – the lack of transparency and accessibility of lifespan data so that others can cross check and carry out further analysis. They also report far fewer studies on females compared with males – again a major issue with biomedical research.

    “The paper is an interesting first-pass analysis, but it doesn’t take into account the really important aspect of drug dosing or duration, which can have huge impacts on healthspan and lifespan; a very high dose of a drug might be toxic, while much lower doses of the drug could be beneficial. Dosing is particularly important with rapamycin which is immunosuppressive at high doses but immunosupportive at low doses. Similarly, metformin either increases or decreases lifespan in mice according to dose. It is therefore vital that the drug dose, duration of treatment, and the age of the individual at which the drug is administered, are all taken into account when analysing lifespan effects.  By drawing together results from so many studies across different vertebrate species, this paper is a step in the right direction but highlights the need for even more studies that provide important information on age, dose and treatment duration, as well as correlations with detailed health measures.”

     

    Prof Neil Mabbott, Personal Chair of Immunopathology, Roslin Institute & Royal (Dick) School of Veterinary Sciences, University of Edinburgh, said:

    “Many studies have described how interventions such as dietary restriction can extend lifespans in experimental settings.  However, the impact that some of these approaches have on lifespans has occasionally been inconsistent, or not observed, when repeated in different animal species or laboratories. To address these concerns the authors have analysed over 900 effect sizes across 167 studies to compare the reported effects of three interventions on their ability to extend lifespan.  Their analysis revealed that dietary restriction or treatment with the immunosuppressant drug rapamycin were equally effective in extending lifespans in the animal species used in those studies. 

    “This is an interesting and useful study, but more research is now required to uncover how these treatments extend lifespans.  Furthermore, none of the studies the authors compared described effects in humans.  So it is uncertain whether the effects described in animals such as laboratory mice, rats, dogs, macaques, fish and mouse lemurs, are also applicable to humans.

    “With advances in health care etc. lifespans across the world are forecast to steadily increase.  While this is obviously to be welcomed, an increased elderly population does bring with it challenges, especially to health care providers.  In this study the authors compared how effective the different interventions were on extending lifespan.  However, rather than simply focusing on lifespan duration, we should also focus our efforts on extending the health-span.  This is the period of our lives in which we live healthily and disease-free.  While this study found consistent effects on lifespan, it is uncertain whether these interventions have a similar impact on the health-span.  Living a lot longer but with the multiple morbidities that can accompany aging is perhaps not the best thing.  Treatments that can improve the duration of those healthy years, will themselves feedback into increased lifespans.”

    Prof Ilaria Bellantuono, Co-director of the Healthy Lifespan Institute, University of Sheffield, said:

    “This meta-analysis compiles existing data on the effects of dietary restriction (DR), metformin, and rapamycin on lifespan across multiple species, but its findings—particularly regarding DR and rapamycin—should be interpreted with caution. While the authors report no significant differences between these two interventions or between sexes, this may reflect limitations in the underlying data, and its heterogeneity, rather than a true absence of effect. Both rapamycin and DR have demonstrated sex-specific and context-dependent effects on longevity in numerous experimental models, especially in mice. Moreover, the analysis cannot address key translational questions, such as dose dependency and timing of intervention—factors that are particularly important given rapamycin’s known side effects. Perhaps more critically, the study focuses on lifespan rather than healthspan, and it is well established that longer life does not necessarily mean more years in good health. Although the study reinforces general principles about the influence of these interventions on longevity, its relevance to human ageing and therapeutic translation is limited, and claims of equivalence should be treated with caution.”

    Dr Laura Sinclair, Postdoctoral Research Associate, University of Exeter, said:

    “The team made use of the powerful tool of meta-analysis to look at how dietary restriction, metformin and rapamycin affect longevity across published experimental research studies.

    “As one might expect, a drug’s effect on lifespan can be quite difficult to assess in humans, so research often uses model organisms for assessing lifespan, while human studies focus more on age-related diseases. For example, the Targeting Ageing with Metformin (TAME) Trial in the US will use mortality and a combination of age-related disease indications to examine metformin’s effects on ageing and lifespan.

    “The team analysed data from lots of experiments from other studies. Most of the experiments that the team studied will have involved giving an animal a treatment and measuring their lifespan compared to a control group of animals not given the treatment. The dietary restriction treatment may have consisted of giving the animal less food, less time to eat and/or less nutrition in their food.

    Dietary restriction is well known to increase longevity across many studies in animals, but its effects are difficult to replicate in people in the real world for many reasons.

    “When you eat less, lots of nutrition-sensing pathways are affected in your cells. These pathways overlap a lot with cell-controlling pathways that are associated with living longer. It is important to study these pathways as targeting them might help us be able to live healthier in older age. It is also important to consider sex differences as some differences in response between sexes have been observed in other studies.

    ‘Rapamycin, not metformin, mirrors dietary restriction-2driven lifespan extension in vertebrates: a meta-analysis’ by Ivimey-Cook et al. will be published in Aging Cell at 00:01 UK time on Thursday 19th June, which is when the embargo will lift.

    Declared interests

    Prof Neil Mabbott “I have no conflicts of interest to declare”

    Prof Ilaria Bellantuono “I am consulting for Holland and Barrett.”

    Dr Laura Sinclair “My project is currently funded by the charity, Animal-Free Research UK”

    Prof Lynne Cox “Lynne Cox is a biochemist at the university of Oxford. She runs the Lab of Ageing and Cell Senescence in Oxford, and has strong research interest in rapamycin and drugs that act in similar ways to preserve healthspan. She has served for the past 3 years as co-director of the UK Ageing research Networks (UKAN) and is currently Program Director of Dynamic Resilience, a $60m global healthspan program co-funded by Wellcome Leap and Temasek Trust.”

    Dr David Clancy “No interested to declare”

    For all other experts no reply to our request for COIs was receive.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: First ever Entrepreneurship Advisor appointed to the Treasury

    Source: United Kingdom – Executive Government & Departments

    Press release

    First ever Entrepreneurship Advisor appointed to the Treasury

    Alex Depledge MBE appointed by the Chancellor as first ever Entrepreneurship Advisor appointed to Treasury to address barriers for high growth businesses.

    • New appointment to support growth in build up to Autumn Budget
    • This is on top of the significant steps the government has already taken to support entrepreneurs through increased R&D funding and extending the Enterprise Investment Scheme and Venture Capital Trust schemes, delivering on our Plan for Change

    Entrepreneurs will now have a direct line to government and will benefit from additional expertise within the Treasury as the Chancellor has appointed Alex Depledge MBE as her Entrepreneurship Adviser.

    Over the coming months, Alex will advise the Chancellor on the government’s entrepreneurship landscape, focusing on addressing the key barriers faced by businesses seeking to start up and scale up in the UK.

    Reducing barriers for business, entrepreneurs and investors is key to boosting economic growth and delivering the government’s Plan for Change.

    Alex brings with her extensive entrepreneurship experience, having successfully built several businesses from the ground up, including Resi and Helpling, formerly known as Hassle.com. She knows what it takes to build a successful business and will be in a position to offer invaluable advice to boost growth for the businesses of the future.

    The government has already taken significant steps to support start-ups since taking office. We have extended the Enterprise Investment Scheme and Venture Capital Trust schemes to 2035 and increased R&D funding to £22.6 billion per year by 2029/30 to support the growth even more innovative businesses of the future, this support will allow them to invest and take on new staff, putting more money into working people’s pocket.

    Chancellor of the Exchequer, Rachel Reeves, said:

    Start-ups, scale-ups and other small businesses drive the innovation that keeps Britain growing, delivering our Plan for Change.

    We have a long list of successful start ups, scale ups and small businesses across the UK – with the greatest density of scale ups among the seven major industrial countries in the G7.

    Having Alex on the team will bring invaluable expertise with her experience building successful businesses from the ground up, and I look forward to working with her.

    Alex Depledge MBE, said:

    I’m honoured to be appointed as the Chancellor’s first-ever Entrepreneurship Advisor, a ground-breaking move that puts high-growth businesses at the heart of economic thinking.

    It’s the first time an entrepreneur has held this role, and it signals a bold commitment from government to back the scale-ups and innovators powering the UK forward.

    There are over 34,000 scale-ups in the UK — just 0.6% of SMEs — yet they generate a staggering £1.4 trillion in turnover, contributing 55% of all SME revenues.

    This is a chance to rewrite the playbook on how we support entrepreneurs, and I’m here to make sure we take full advantage of it.

    The Terms of Reference for this appointment can be found here. Direct Ministerial Appointment Terms of Reference (PDF, 37 KB, 1 page)

    Updates to this page

    Published 19 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Future farming Investment Scheme

    Source: Scottish Government

    Applications for £14 million fund to open in July.

    A new flexible grants scheme offering farmers and crofters capital investment will open next month, Rural Affairs Secretary Mairi Gougeon has announced.

    The £14 million Future Farming Investment Scheme offers flexible capital grants to support investments in efficiency, nature and climate friendly farming.  It will provide priority support in a number of areas, including for new entrants, and young farmers, small farms and tenants.

    The Rural Affairs Secretary also confirmed that a three-year programme of national LiDAR scanning is underway to provide a detailed three dimensional baseline map of Scotland to help better understand the landscape and plan for the future.

    A new Code of Practice on Sustainable and Regenerative Agriculture has also been published.

    Speaking at the Royal Highland Show in Edinburgh, Ms Gougeon said:

    “Scotland invests more than £600 million a year in agriculture through reformed direct payments, Voluntary Coupled Support and Less Favoured Area Support Scheme – all in stark contrast to elsewhere in the UK.

    “I am pleased to be able to confirm that, having worked with so many partners in its development, the Future Farming Investment Scheme will open on 14 July. The scheme will provide upfront payments of up to £20,000 at up to 100% grant rate and give people the freedom to choose the most appropriate capital investment to improve their business.

    “The Scottish Government recognises the importance of small suckler cow herds in some of our most remote and fragile areas. These cows deliver for biodiversity, landscapes, they help to sustain people and deliver socio-economic benefits, so from the 2026 scheme, farms claiming for 10 calves or fewer will receive a derogation from the calving-interval condition.

    “By working together we have secured a flexible support policy through the Agriculture and Rural Communities Act, ensuring the industry continues to benefit from reformed direct support. We are driving down emissions, improving productivity and supporting the next generation.

    “We do not have all the powers to protect the Scottish agricultural industry, but where we do, we have shown that long term policy made in Scotland for Scotland can serve this great industry well.”

    Background

    The Code of Practice on Sustainable and Regenerative Agriculture (ruralpayments.org)

    Future Farming Investment Scheme (ruralpayments.org)

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: City trader prosecuted by council for underage vape sales

    Source: City of Wolverhampton

    Abdul Qadir Davoodi, owner of Wardak Supermarket in Lea Road, made the illegal sales during 2 test purchases.

    He pleaded guilty to 4 charges under Tobacco and Related Products Regulations 2016, one charge under the Nicotine Inhaling Products (Age of sale and Proxy Purchasing) Regulations 2015 and one charge under the Consumer Protection from Unfair Trading Regulations 2008.

    Davoodi was fined £2,500 and ordered to pay court costs of £4,500 and a victim surcharge of £1,000.

    Dudley Magistrates Court also made a forfeiture and destruction order against the items seized.

    Trading Standards officers at the council originally received a complaint that Wardak Supermarket, also known as Lifestyle Express, was selling single cigarettes of foreign origin to children.

    A covert test purchase was organised and in July 2023, a 17 year old volunteer was illegally sold a disposable e-cigarette/vape by Davoodi.

    A second covert test purchase was carried out a year later when another 17 year old volunteer was again illegally sold an e-cigarette/vape.

    A follow-up inspection of the store by Trading Standards officers in August 2024 found 69 non compliant e-cigarettes/vapes under the counter. These products were seized.

    Since 1 June, 2025, sales of disposable vapes have been banned across the UK.

    During the court hearing on 13 June, Davoodi told Dudley Magistrates that he had now put a new training regime in place for his staff, had installed CCTV and had put a refusals book system in place.

    Councillor Bhupinder Gakhal, City of Wolverhampton Council’s cabinet member for resident services, said: “This prosecution is the latest successful step in our efforts to protect city residents.

    “Our Trading Standards officers are taking firm action against shops that put young people at risk, we will not tolerate this type of behaviour in Wolverhampton.

    “As this prosecution shows, businesses need to be aware that selling age restricted products to underage customers can have serious consequences.

    “If you break the law, you will be held accountable. We will not hesitate to take action against those who put people at risk and undermine the hard work of legitimate businesses.”

    Anyone who thinks they may have been sold illegal goods or suspect someone is selling them, is asked to email trading.standards@wolverhampton.gov.uk or contact Citizens Advice consumer helpline on 0808 223 1133.
     

    MIL OSI United Kingdom –

  • MIL-OSI Russia: /Economic Review/ China’s Commercial Aerospace Sector Reaches New Heights

    Translation. Region: Russian Federal

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

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

    BEIJING, June 19 (Xinhua) — A rocket left a glittering trail in the sky as it flew over waters off east China’s Shandong Province.

    The launch, organized by Chinese aerospace company Galactic Energy, successfully placed four satellites into orbit, marking the company’s fifth consecutive successful space launch from a sea-based platform.

    The flight, which took place on May 19, was a shining example of the rapid development of China’s commercial space industry.

    From coastal launch sites to orbital bases, a new generation of private Chinese aerospace enterprises is redefining the country’s access to space, characterized by greater launch frequency, precision and innovation.

    Building on this momentum, China’s commercial aerospace sector is now entering an era of rapid development driven by technological breakthroughs, expanded launch capabilities and accelerated construction of space infrastructure.

    Rockets, satellites and launch sites are the three main components of the commercial division of China’s space industry. Last year, China opened its first launch site for commercial flights, giving the country the final link in the commercial space ecosystem and paving the way for fully integrated development.

    China plans to launch several reusable rockets in 2025. As for satellites, large constellations like Spacesail Constellation (China’s commercial low-orbit satellite network) continue to launch, while demand for small satellites is growing rapidly.

    China’s commercial space market is expected to exceed 2.5 trillion yuan (about $348 billion) this year.

    “Space is an important resource that we have yet to tap, and we are very optimistic about the commercial space sector,” said Galactic Energy Executive President Xia Dongkun.

    In 2024, the country’s government work report called commercial space a “new driver of economic growth.” Authorities in Beijing, Shanghai, and other cities soon after rolled out targeted support measures and action plans to improve the structure of the commercial aerospace industry.

    The Beijing Economic and Technological Development Zone, also known as Beijing E-Town, is home to more than 160 aerospace enterprises that have formed a growing cluster, accounting for 75 percent of the country’s commercial rocket development and assembly operations.

    As China’s commercial aerospace ecosystem continues to evolve, coordination between market forces and government support measures lays a solid foundation for sustainable growth.

    Today, the number of commercial space companies in China has exceeded 500, and the number of satellites in orbit continues to grow steadily.

    With the development of low-orbit satellite internet, some commercial satellite companies are moving towards mass production and increased profitability.

    At Geespace’s satellite factory in Taizhou City, east China’s Zhejiang Province, an intelligent network system coordinates all stages of design, R&D, production, testing and operation.

    After more than 60 general assembly operations, the components are transformed into a satellite, thereby reducing the production cycle to 28 days. The production speed has increased by 10 times, and production costs have been significantly reduced.

    “In the satellite manufacturing industry, the advantages of commercial aerospace companies in low-cost mass production are becoming increasingly clear,” said Zhang Shijie, chief scientist at GalaxySpace.

    “The industry is moving from small-scale custom development to large-scale production. The ability to assemble satellites like computers is no longer a dream, but a reality,” he added.

    China’s commercial rockets are not only crossing the skies from sea to space, but also opening a new era of innovation and industrial transformation. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: The 9th China-South Asia Expo Opens in Kunming

    Translation. Region: Russian Federal

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

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

    KUNMING, June 19 (Xinhua) — The 9th China-South Asia Expo opened in Kunming, capital of southwest China’s Yunnan Province, on Thursday. Wang Dongming, vice chairman of the Standing Committee of the National People’s Congress (NPC Standing Committee), delivered a speech at the opening ceremony.

    Wang Dongming noted that in recent years, China and South Asian countries have been adhering to the spirit of openness, cooperation and inclusiveness, deepening practical cooperation in all areas, and economic and trade exchanges have maintained a favorable development momentum, bringing benefits to the peoples of all countries. Mutually beneficial cooperation between the two sides has laid a solid foundation for deepening the traditional friendship between the peoples of China and South Asia, and has become a model for synergistic development in the region.

    Wang Dongming stressed that China is committed to further linking its own development with that of South Asian countries. China will continuously strengthen strategic mutual trust, firmly uphold multilateralism, continuously deepen practical cooperation, actively carry out mutual learning and exchange of experience, promote the building of a community with a shared future for neighboring countries, and jointly create a bright future.

    The 9th China-South Asia Expo is being held from June 19 to 24 in Kunming. Earlier, at a press conference, Vice Minister of Commerce of the People’s Republic of China Yan Dong said that the expo, jointly organized by the Ministry of Commerce of the People’s Republic of China and the People’s Government of Yunnan Province, will be one of the most important events this year in the field of economic and trade exchanges between China and South Asian countries.

    According to him, in 2024, trade turnover between China and South Asian countries will approach US$200 billion, doubling over the past decade.

    Yan Dong also noted that China will closely cooperate with South Asian countries to align development strategies, expand cooperation in new areas such as the digital economy, low-carbon development and intelligent manufacturing, and support the region’s industrialization. -0-

    MIL OSI Russia News –

  • MIL-OSI Russia: China to speed up review of rare earth metal export license applications

    Translation. Region: Russian Federal

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

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

    BEIJING, June 19 (Xinhua) — China has always attached great importance to maintaining the stability and security of global industrial and supply chains and has been speeding up the review of rare earth export license applications in accordance with relevant laws and regulations, the Ministry of Commerce said Thursday.

    China has approved a certain number of eligible applications in accordance with the law and will continue to strengthen the review and approval process for such applications, ministry spokesman He Yadong said at a press conference when asked about rare earth exports.

    China is willing to strengthen communication and dialogue with relevant countries on export control issues and actively promote trade facilitation in line with requirements, he added. -0-

    MIL OSI Russia News –

  • MIL-OSI China: Announcement on Open Market Operations No.115 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.115 [2025]

    (Open Market Operations Office, June 18, 2025)

    The People’s Bank of China (PBOC) issued the fourth batch of central bank bills in 2025 on the Central Moneymarkets Unit (CMU) bond tendering platform of the Hong Kong Monetary Authority (HKMA) through interest rate bidding on June 18, 2025 (Wednesday).

    Details of the Reverse Repo Operations

    Issue

    Volume

    Maturity

    Rate

    The Fourth Batch of Central Bank Bills (2025) (Hong Kong)

    RMB30 billion

    6 months

    (182 days)

    1.45%

    Date of last update Nov. 29 2018

    2025年06月18日

    MIL OSI China News –

  • MIL-OSI China: Announcement on Open Market Operations No.116 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.116 [2025]

    (Open Market Operations Office, June 19, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB203.5 billion through quantity bidding at a fixed interest rate on June 19, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB203.5 billion

    RMB203.5 billion

    Date of last update Nov. 29 2018

    2025年06月19日

    MIL OSI China News –

  • MIL-OSI China: China-South Asia Expo opens with focus on trade, emerging industries

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

    KUNMING, June 19 — The 9th China-South Asia Expo opened on Thursday in Kunming, capital of southwest China’s Yunnan Province, drawing representatives from 73 countries, regions and international organizations, as well as more than 2,500 enterprises.

    The six-day event has brought together all South and Southeast Asian nations, featuring 16 exhibition halls, nearly 70 percent of which are dedicated to professional sectors such as manufacturing, green energy, the coffee industry, and traditional Chinese medicine.

    Two South Asia-themed pavilions with nearly 800 booths have been set up, with India and Pakistan each hosting 140 booths.

    Nearly 40 economic and trade events are scheduled during the expo, including forums and procurement matchmaking meetings aimed at deepening regional cooperation.

    The expo was first held in Kunming in 2013, the same year China put forward the Belt and Road Initiative. It has since facilitated over 110 billion U.S. dollars in foreign trade transactions and served more than 20,000 enterprises.

    Jointly organized by the Ministry of Commerce (MOC) and the Yunnan provincial government, the expo serves as a key platform to strengthen economic and trade links between China and South Asian nations.

    In 2024, trade between China and South Asian countries neared 200 billion U.S. dollars, doubling over the past decade with an average annual growth rate of 6.3 percent, according to MOC data.

    China remains committed to high-level opening up and is advancing Chinese modernization through high-quality development, a process that will create valuable opportunities for cooperation with countries around the world, including those in South Asia, vice minister of commerce Yan Dong said at the opening ceremony.

    Yan also expressed China’s readiness to deepen trade and investment ties, expand cooperation in emerging sectors such as the digital economy, low-carbon development, artificial intelligence and biomedicine, and jointly promote an open world economy.

    MIL OSI China News –

  • MIL-OSI China: Phase one of Zhongguancun AI park completes construction

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

    The first phase of the Zhongguancun (Western Beijing) Artificial Intelligence Technology Park in Beijing’s Mentougou district has completed construction and is scheduled to open this October, according to Beijing Daily. 

    Jointly developed by Mentougou district and the ZGC Group, the park is a key project under Beijing’s “Two Zones” initiative. Once fully operational, it is expected to host more than 200 AI enterprises and generate over 10 billion yuan ($1.39 billion) in annual output.

    Covering a floor area of 310,000 square meters, the first phase features 16 buildings dedicated to research and development, as well as a number of support facilities. The park incorporates smart technologies and eco-friendly design elements throughout.

    The layout was designed with flexibility to meet the diverse needs of AI companies for office space, R&D, and testing. It aims to integrate research and small-scale production within a single campus.

    The park has also reached intent of cooperation with seven companies covering emerging and cutting-edge fields, including AI-powered medicine and smart equipment, said Deng Xiaowen, general manager of the park’s construction and management company.

    MIL OSI China News –

  • MIL-OSI China: Beijing’s reusable rockets to debut, eyeing trillion-yuan market

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

    The Chinese capital is poised for a breakthrough in commercial spaceflight, with multiple reusable rockets developed by local firms preparing for their maiden launches. The advancements could dramatically lower launch costs and help Beijing tap into the booming low-Earth orbit economy, estimated to be a trillion-yuan market.

    Low-Earth orbit, spanning 400 to 2,000 kilometers above Earth, offers advantages like natural magnetic shielding, lower radiation risks, and ultra-low-latency communication, making it a hotbed for global commercial space competition. Rockets serve as a critical gateway to this orbital frontier.

    At southeastern Beijing’s “Rocket Street,” a hub for aerospace innovation, companies like Galactic Energy and LandSpace are racing to deploy next-gen rockets.

    LandSpace’s Zhuque-3, a methane-fueled reusable rocket comparable to SpaceX’s Falcon 9, completed a 10-kilometer vertical takeoff and landing test last year and is expected to make a debut flight in the second half of 2025. Its stainless-steel structure and methane engines, reusable up to 20 times, could reduce launch costs by 80% to 90%.

    Meanwhile, Galactic Energy is pursuing a liquid oxygen and kerosene approach with its Pallas rocket, also targeting a 2025 maiden launch, said Xia Dongkun, the firm’s executive president.

    According to the municipal science and technology authority, Beijing is home to more than 70% of China’s commercial launch system integrators. It also maintains the country’s most complete launch vehicle development ecosystem and has developed a nationally leading satellite manufacturing cluster.

    Additionally, Beijing’s commercial rocket firms have set new records in launch, satellite development, and data applications: Beijing accounted for one-fifth of China’s commercial launches last year, and single-use rockets have entered routine operations.

    Galactic Energy’s CERES-1, China’s most-launched private rocket, has already sent 81 satellites to orbit for 25 clients. Its upgraded CERES-2, with doubled payload capacity, is preparing for its first flight.

    Cost efficiency is key. “We are scaling payloads from 1 metric ton to hundreds and thousands while driving down per-kilo launch costs to tap into the trillion-yuan market,” Xia noted. The firm has cut engine production expenses by 90% using 3D printing, a technique also adopted by LandSpace, which slashed manufacturing time for its Tianque engine from two months to days.

    MIL OSI China News –

  • MIL-OSI Global: Degrowth and fashion: how upcycling innovators show us how to rethink and reuse waste

    Source: The Conversation – France – By Handan Vicdan, Associate professor of marketing, EM Lyon Business School

    Every year, some 100 billion garments are produced worldwide, and 92 million tonnes of clothing waste end up in landfills. Given this enormous amount of waste, it is logical to think that the only way forward is to degrow fashion. But can fashion and degrowth co-exist?

    Degrowth is defined as the planned reduction of production and consumption in a way that ensures equitable living. Degrowth principles, such as sufficiency, cooperation and care, clash with growth principles of maximization, commodification and efficiency. For the fashion industry, which is responsible for immense resource extraction and waste creation, reducing resource throughput and ensuring equitable value creation pose enduring challenges.

    While some governments and corporations encourage consumers to shop responsibly and reduce waste, collective responsibility is needed to facilitate a degrowth transition, which urges a fundamental shift in the way designers, manufacturers and brands approach fashion waste. Will circular practices help create a just and equitable industry? Is it possible to produce clothing locally and differently than “fast fashion” retailers?


    A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!

    Upcycling as a radical rethinking of our relationship with waste

    In a recent study, we explored how the circular fashion practice of upcycling – creative and caring transformation of discarded or waste clothes into something of higher value – pushes industry actors to rethink their relationship to fashion waste and give it value as a resource compatible with degrowth values. We examined how upcycling is practiced across institutions – brands, manufacturers, designers and NGOs – in Turkey, one of Europe’s largest textile producers.

    It is important to note that while conversations about recycling – the practice of breaking down textile waste into raw material through mechanical or chemical processes – are prevalent in the fashion world, the painful fact is that only 1% of clothes are recycled into new garments, meaning the majority of fashion waste is doomed to remain as waste. Through upcycling, on the other hand, waste is treated as a resource. Rather than viewing clothes as disposable, upcycling enables us to understand and care about our clothes’ journey and the people and ecosystems behind them. Converting discarded food into natural dyes for colouring fabric, or using sailcloth to make handbags, creates value through the creativity, materials, skill sharing, and caring involved.

    As part of green-growth efforts, some circular fashion actors treat waste as a commodity and try to maximize growth through efficient waste reduction. However, this is incompatible with degrowth. We need to reduce production of textiles and make use of existing textile waste, not just discard textile waste efficiently.



    À lire aussi :
    Green growth or degrowth: what is the right way to tackle climate change?

    Relational ways of working with waste, technology, nature and people

    Our research highlights the importance of the socio-ecological value of waste in industry upcycling practices. Such value is generated through social and solidarity networks of relations around waste, including between designers, manufacturers and upcycling brands, and involving nature and technology.

    We emphasise the growing interest in the story of waste material, which is reinforcing strong connections to waste and its origins. Upcycling designers highlight local and material heritage in the production of upcycled clothes, which is necessary to foster the ecological and material consciousness required for a degrowth transition. Designers we interviewed evoked the idea that “nature doesn’t waste anything”, and mentioned being inspired by and mimicking nature’s cycles in the design process.

    We also reflect on the kind of technology needed to support more relational, localised systems. The practices of upcycling designers and small brands highlight the value of the creation of waste-sharing platforms among industry actors. These platforms serve as waste libraries and provide opportunities to purchase different kinds of textile waste for upcycling.

    Making waste valuable

    Industry actors we interviewed said they are not simply trend chasers focused on profit, but seeking to build alternative ways of working with each other, nature, waste and technology. For example, designers partnered with local women in rural areas in Erzurum, Mugla and Kilis provinces to upcycle discarded fabrics into handwoven garments, preserving cultural heritage. A brand collected food waste to create natural textile dyes, collaborating with local cafés and friends in Istanbul. During the Covid-19 crisis, solidarity networks emerged between hospitals, textile manufacturers and designers to make upcycled uniforms for doctors and nurses. We have observed that manufacturers also repurpose waste to give gifts to employees, children and others. These practices aim to reduce waste and reconnect people to waste material, and enable the sharing of local knowledge and skills.

    Our data also demonstrates a concern over lack of circular literacy among industry actors. Currently, access to upcycling knowledge and skills, as well as waste material, happens through knowledge hubs and waste-sharing platforms. For example, working with sectoral representatives and local governments, one knowledge hub created a circular economy guide to raise industry awareness about ways to revalue and reduce textile waste.

    Upcycling is still a niche circular practice, and access to waste resources for initiatives, as well as lack of public funding and policy support for projects, remain important concerns. Nonetheless, when it is grounded in local communities, new narratives about materials, and care, upcycling can foster degrowth values in fashion.

    Handan Vicdan ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.

    – ref. Degrowth and fashion: how upcycling innovators show us how to rethink and reuse waste – https://theconversation.com/degrowth-and-fashion-how-upcycling-innovators-show-us-how-to-rethink-and-reuse-waste-258869

    MIL OSI – Global Reports –

  • MIL-OSI Banking: CBB announces Executive Management Promotions

    Source: Central Bank of Bahrain

    CBB announces Executive Management Promotions

    Published on 18 June 2025

    Manama, Bahrain – 18 June 2025: As part of its new organizational structure, the Central Bank of Bahrain (CBB) has announced executive management promotions, effective 1 July 2025:

    Abdulla Ahmed Haji – General Director – Capital Markets & Investment Supervision

    Nawaf Ahmed Bubshait – General Director – Banking & Credit Institutions Supervision

    Afaf Khalifa Khalfan – Director – Monetary Operations & Government Debt Management Directorate

    Fatema Hasan Akhtarzada – Director – Licensing & Regulatory Policy Directorate

    Mohamed Mahmood Shamsi – Director – Consumer Protection & Enforcement Directorate

    Sara Khaled Qaed – Director – Anti-Financial Crime Directorate

    Mohamed Ahmed Al Sulaiti Director – Cyber-Security Unit

    Fatema Mohamed Ali – Director – Human Resources Directorate

    Amina Yousif Al Madani – Director – Communications & International Relations Directorate

    Fatima A.Rahman Abdulla – Director – Retail Banking & Credit Institutions Supervision Directorate

    Manal Ali AlTurkamani – Director – Capital Markets & Investment Business Inspections Directorate

    Nabeel Mohammed Juma – Director – Supervision Technology Unit

    Commenting on the occasion, HE Khalid Humaidan, Governor of the Central Bank of Bahrain, said: “We at the CBB are committed to empowering qualified national talents shaping the future of the financial services sector. As such, we are pleased to announce the latest promotions which support the decision to adopt the CBB’s new organizational structure. We would like to congratulate our team members and hope this step will achieve our goals in maintaining the stability of the financial sector and develop strategies that aim to advance the development of this vital industry.”

    On his end, Mr. Mohamed A. Karim – Executive Director of Corporate Services at the Central Bank of Bahrain, commented: “We are proud to be completing our newest promotions, which comprise an exceptional team of local competencies. Through our confidence in their capabilities, we look forward to commencing this next phase of development through their years of leadership and expertise. We also believe this will contribute to fulfilling the CBB’s aspirations to prepare capable leaders that will play a vital role in the growth of the local financial sector.”

    Share this

    MIL OSI Global Banks –

  • MIL-OSI Banking: CBB Maintains Overnight Interest Rate unchanged at 5%

    Source: Central Bank of Bahrain

    Published on 18 June 2025

    Manama, Kingdom of Bahrain – 18th June 2025 – The Central Bank of Bahrain (CBB) announced its decision to maintain the overnight deposit rate unchanged at 5.00%.

    This decision comes as part of the review conducted by the CBB to maintain monetary and financial stability in the Kingdom of Bahrain in light of global financial market developments.

    Share this

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: Government to invest over £100m in water company fines to local environmental projects

    Source: United Kingdom – Executive Government & Departments 2

    News story

    Government to invest over £100m in water company fines to local environmental projects

    The Government will invest water company fines into local projects across the country to clean up our rivers, lakes and seas

    The Government will invest water company fines into local projects across the country to clean up our rivers, lakes and seas. 

    Over £100m in fines and penalties levied against water companies since October 2023, as well as future fines and penalties, will be reinvested into projects to clean up our waters which could include local programmes to address pollution and improve water quality.

    When water companies breach their environmental permits – for example by releasing excessive pollution into a river – that is a criminal offence. The most serious cases, like illegal sewage spills, see water company fines issued and criminal prosecutions for water bosses.  

    A record 81 criminal investigations have been launched into water companies under this government as part of a new operation spearheaded by Environment Secretary Steve Reed.

    This Government is clear that the current volume of sewage being discharged to our waters is unacceptable. We have launched an independent review, led by Sir Jon Cunliffe, to reset the water sector regulatory system and deliver a fair deal for customers and investors.

    The Government is committed to cleaning up our rivers, lakes and seas with increased enforcement against polluting water companies, a record investment to fix broken pipes and a generational review of the sector as part of its Plan for Change.

    Secretary of State Steve Reed said:  

    We inherited a broken water system with record levels of sewage being pumped into waters.  

    But the era of profiting from failure is over. A record 81 criminal investigations have been launched into water companies under this government and Ofwat recently announced the largest fine ever handed to a water company in history. 

    This Government will invest money collected through fines into local projects to clean up our rivers, lakes and seas for good.

    More detail on the projects and programmes that this funding will go towards will be set out in due course.

    Updates to this page

    Published 19 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Certified and Trusted: AIXA Miner Sets New Standard in Passive Crypto Income After FinCEN Approval

    Source: GlobeNewswire (MIL-OSI)

    DENVER, June 19, 2025 (GLOBE NEWSWIRE) — Cryptocurrency cloud mining is transforming how people earn passive income in 2025. Unlike traditional mining, which requires users to own expensive hardware and have technical know-how, cloud mining offers automated crypto rewards with zero maintenance costs in a hassle-free way. AIXA Miner is a leading platform in the cloud mining industry, offering a secure, eco-friendly, and affordable platform. With mining contracts in Bitcoin, Dogecoin, and Litecoin, it helps users generate daily profits with minimal initial investment. The platform offers extremely simple registration and mining processes, with easy account management through the mobile app.

    Certified, Sustainable & Profitable: AIXA Miner, a Go-To Platform for Cloud-Based Crypto Earnings

    AIXA Miner recently earned its FinCEN MSB certification, which has boosted investor confidence globally, especially in the U.S. With over 5 million users in 200+ countries, AIXA Miner is now ranked as one of the few legal and fully compliant cloud mining platforms operating at scale. The company adheres to strict U.S. financial and crypto regulations, offering robust fraud prevention and user data protection, making it a safe and reliable space for both new and crypto veterans.

    AIXA Miner Sets New Standard for Passive Crypto Income in 2025: FinCEN Certified & AI-Powered

    What sets AIXA Miner apart is its sustainability-first approach. The platform’s global mining operations run entirely on renewable energy, like solar and wind. AIXA Miner uses advanced AI to automate mining schedules, reducing waste and maximizing profits. This results in lower operational costs and higher returns, enabling users to start earning rewards within 24 hours of activating their plan.

    “I started mining with AIXA in 2021 just to test the waters. Within months, my investment had doubled effortlessly. Now, my crypto portfolio is thriving, and I trust AIXA more than any other platform.” – Morris K., AIXA Miner user

    One of the reasons AIXA Miner can maintain competitive mining returns is its AI-driven systems and algorithms. Notably, the platform’s algorithms analyse real-time market data and accurately predict mining profits. With accurate return expectations, investors can make informed investment decisions and maximize their profit potential. AIXA Miner users can keep earning stable daily payouts despite sudden market shifts.

    Benefits Investors Get Only Mining With AIXA Miner

    • $20 Free Trial Bonus: Start earning passive income instantly with zero investment.
    • Hassle-Free Mining: No hardware, no stress, just activate and let the system work for you.
    • 100% Hands-Free Earnings: Fully automated mining for truly passive investment returns.
    • Global & Trusted: A secure cloud mining ecosystem delivering steady daily profits worldwide.
    • VIP Club Perks: Unlock bonus rewards and exclusive cash incentives as you grow.
    • Earn More by Sharing: Get up to 5% commission through AIXA’s affiliate referral program.

    AIXA Miner provides a variety of professional contracts. You can choose the contract that suits you to start mining and start your mining journey. The following is a schematic diagram:

    Choose From High-Yield Mining Plans Based on Your Budget:

    Contract
    Amount    		 Duration Daily income Total Return Daily ROI
    $500 4day $6.25 $25 1.25%  
    $5200 15day $83.72 $1255.8 1.61%  
    $8000 20day $140 $2800 1.75%  
    $30000 20day $606 $12120 2.02%  
    $50000 20day $1050 $21000 2.1%  


    Start Earning Crypto Daily: Here’s How to Join AIXA Miner

    1. Visit www.aixaminer.com and create a free account
    2. Claim your $20 sign-up bonus
    3. Choose a mining contract (from $100 and up)
    4. Start receiving automated daily crypto payouts
    5. Track earnings anytime via desktop or the AIXA mobile app

    Share your referral link to earn 5% commission for each friend you invite!

    Final Input: Why Cloud Mining With AIXA Miner is a Smart Investment Decision?

    With crypto mining difficulty increasing and the market heating up, now is the time to take advantage of cloud mining. AIXA Miner delivers a modern, eco-friendly, and fully regulated platform where users generate real profits without complexity or hidden costs.

    Join over 5 million users who trust AIXA Miner for secure, daily passive income. The next 24 hours could be your first step toward effortless crypto rewards.

    Now is the best time to start mining Bitcoin, Dogecoin, and Litecoin. Dive in while the market is bullish and mining returns are at their best.

    It is important to note that all investments have potential risks, and cryptocurrency cloud mining is no different. Thus, performing due diligence is crucial. Consulting your financial advisor when investing large sums of capital is advised.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/abfcd49c-30c8-4be1-93c1-219d5f16c0a3

    The MIL Network –

  • MIL-OSI Analysis: What makes some people self-censor while others speak out? Podcast

    Source: The Conversation – UK – By Gemma Ware, Host, The Conversation Weekly Podcast, The Conversation

    Jo Panuwat D/Shutterstock

    Faced with the choice in their daily lives, their work or their politics, why do some people decide to keep quiet, to censor themselves in anticipatory obedience, even if they’re not ordered to do so?

    In this episode of The Conversation Weekly, we talk to self-censorship expert Daniel Bar-Tal about what drives people to censor themselves, and its consequences for society.

    It was Daniel Bar-Tal’s experiences serving in the Israeli army that prompted him to begin studying self-censorship. “ I was observing all kind of phenomenon that are going on within a country that is engaged in intractable conflict,” he told us.
    Bar-Tal, an emeritus professor in the school of education at Tel Aviv University, began to notice that self-censorship was essential in societies, like Israel, living in conflict. He explains:

     There are all kind of directives which develop censorship, in the army, in school, teachers are told what they should do and say. But self-censorship is going beyond this. So it means that nobody tells you that you must say A or B or C, but you feel an obligation by yourself to say certain things without any order from above.

    Bar-Tal assembled a team of researchers from different disciplines to examine how self-censorship plays out across different sectors of a society, from politics to academia to journalism. They found three main motivations why people self-censor: as a defence mechanism for their in-group; out of fear; and to win rewards.

    Listen to Bar-Tal talk about his research into self-censorship on the latest episode of The Conversation Weekly podcast, which includes an introduction from Beth Daley, executive editor at The Conversation U.S. about self-censorship currently happening in parts of American academia.

    This episode of The Conversation Weekly was written and produced by Katie Flood with assistance from Mend Mariwany. Gemma Ware is the executive producer. Mixing and sound design by Eloise Stevens and theme music by Neeta Sarl.

    Newsclips in this episode from NBC10 Boston.

    Listen to The Conversation Weekly via any of the apps listed above, download it directly via our RSS feed or find out how else to listen here. A transcript of this episode is available on Apple Podcasts or Spotify.

    Daniel Bar-Tal 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. What makes some people self-censor while others speak out? Podcast – https://theconversation.com/what-makes-some-people-self-censor-while-others-speak-out-podcast-258882

    MIL OSI Analysis –

  • MIL-OSI Africa: When Uber Is a ‘Predator’ and LinkedIn a ‘Species’: the 5M Framework Offers a New ‘Natural’ Lens for Antitrust Oversight

    The BRICS Competition Law and Policy Centre (www.BRICSCompetition.org), in collaboration with mathematicians, programmers, ecologists and biologists from the International Institute for Applied Systems Analysis (IIASA, Vienna), has developed a systemic approach to deepen the understanding of how digital ecosystems function. The research group proposes applying mathematical models and biological theories from the natural sciences to describe processes in the digital economy. Their comprehensive approach to analysing and regulating ecosystems is built on analogies between natural and digital ecosystems—both are complex adaptive systems that share structural and functional characteristics. The results have been published in the interdisciplinary journal npj Complexity in the open-access article “An ecological perspective to master the complexities of the digital economy” (Elena Rovenskaya, Alexey Ivanov, Sarah Hathiari, Daria Kotova, Ursula M. Scharler, Gergely Boza) (www.nature.com) and in the Springer Nature Research Communities “Behind the Paper” post “Taming the Digital Giants: Why Regulators Need an Ecological Lens on Platform Power” (Elena Rovenskaya, Alexey Ivanov, Sarah Hathiari, Daria Kotova, Ursula M. Scharler, Gergely Boza) (www.communities.springernature.com).

    The scientists formulated this idea as the 5M System (5M Framework), which describes the digital realm in ecological terms and draws analogies between natural and digital phenomena across five levels: Micro (“genes”) — elements of technology, knowledge, and business strategy (including user behaviour data); Meso (“species”) — products; Macro (“ecosystems”) — digital platform ecosystems; Mega (“biomes”) — wider societies hosting platform ecosystems; Meta — interactions among the four previous levels occur here.

    For example, optimal foraging theory can explain why Uber avoids sparsely populated areas:  like an animal that leaves a food-poor patch because the energy gained per unit of search time is too low, Uber steers clear of rural zones where ride requests are infrequent, driver utilisation drops, and the “return” on each kilometre driven fails to justify the effort. The flexibility of digital-product boundaries is akin to the blurred definition of biological species, within which finer subspecies are often distinguished: LinkedIn can be viewed either as a Microsoft service or as a set of related products—job marketplace, professional social network, advertising platform, and so on.

    Elena Rovenkaya, the IIASA Advancing Systems Analysis (ASA) Program Director and Principal Research Scholar:

    “Digital ecosystems are an entirely new economic object, fundamentally different from the standard economic agents regulators are used to dealing with. The analogy we propose between natural and digital ecosystems will allow antitrust authorities to look at digital ecosystems from a new angle and obtain intuitive explanations for business strategies that often seem complex. Moreover, applying well-established mathematical and ecological approaches may be more effective than designing new methods from scratch.”

    Aleksey Ivanov, Director of the BRICS Competition Law and Policy Centre:

    “The published article is expected to be the first in a series of interdisciplinary publications devoted to new antitrust approaches for regulating the digital environment. In the AI sector and adjacent fields, the number of partnerships and investment agreements resembling mergers is growing, yet companies often evade antitrust scrutiny by sidestepping formal filing thresholds. A systemic-analysis response—particularly mathematical modelling and the systems-mapping method that the BRICS Centre is developing with partners—can depict a complex phenomenon in a model of all its cause-and-effect links. This will significantly accelerate research and make antitrust analysis more precise.”

    In the future, the researchers also plan to create a digital tool using AI for BRICS antitrust coordination — the “Merger Radar.” This system will detect economic-concentration deals and shape preliminary positions on such transactions.

    The article forms part of the BRICS Centre’s research track on the antitrust challenges created by digitalisation. The project was launched in 2018 to provide expert and methodological support to antitrust agencies in the BRICS Working Group for Research on Competition Issues in Digital Markets; in 2019 the Centre first highlighted the threats posed by digital platforms and the need for special oversight; from 2020 the Working Group shifted its focus to ecosystem regulation — today the most advanced debate in antitrust law. At the 7th BRICS Competition Conference (China, 2021) the Centre publicly presented the “eco-antitrust” concept; in 2022, in Brazil, it organised the first BRICS Digital Competition Forum, which has since been held annually. At the latest forum, in autumn 2024, representatives of Brazil’s antitrust authority CADE announced the drafting of a new bill to regulate ecosystems, which is now before the Brazilian parliament. The experts are currently analysing the impact of AI on competition and preparing a new report.

    Distributed by APO Group on behalf of BRICS Competition Law and Policy Centre.

    MIL OSI Africa –

  • MIL-OSI Africa: Carbon Markets Africa Summit: Unlocking Africa’s Carbon Wealth Through Integrity, Action and Investment — Carbon Markets Africa Summit (CMAS) is a project of VUKA Group

    The award-winning VUKA Group (www.WeareVuka.com) has officially launched the Carbon Markets Africa Summit (CMAS), a purpose-driven, high-level continental gathering that will take place from 21 to 23 October 2025 in Johannesburg. Designed as Africa’s flagship platform for carbon finance, CMAS brings together policymakers, investors, standards bodies, developers and corporates to drive practical, inclusive climate action and unlock Africa’s carbon value at scale.

    Carbon markets are quickly becoming one of Africa’s most promising opportunities for climate finance and sustainable development. Yet the complexity of validation, verification, regulation and monetisation continues to challenge project developers, financiers and governments alike.

    “This isn’t mining or retail. The returns, timelines and requirements are different,” says Olivia Tuchten, Principal Climate Change Advisor at Promethium Carbon. “There’s money to be made and good to be done – but only if stakeholders upskill and understand the process.”

    CMAS is Africa’s response – a strategic event focused on building confidence, closing knowledge gaps and accelerating real transactions.

    Strategic Moment: Africa’s Carbon Future and the Global Agenda

    The timing of CMAS is particularly significant. With growing global momentum around carbon pricing and the operationalisation of Article 6, the outcomes of the upcoming G20 Leaders’ Summit in November are expected to influence the future architecture of global carbon markets.

    As the G20 debates issues like carbon border adjustment mechanisms and international credit standards, Africa must be ready to respond with a united, informed voice. CMAS provides a platform for African stakeholders to strategically align, share technical insights, and sharpen positions – not only for G20, but also in preparation for COP30, where climate finance and carbon market governance will again take centre stage.

    “We are in the right place and at the right time today to ensure that Africa benefits from carbon markets,” says Prof Anthony Nyong, Director of Climate Change and Green Growth at the African Development Bank.

    A Unique Value Proposition: What Sets CMAS Apart

    • Pan-African Focus with Global Reach: Prioritising African leadership while connecting to international buyers, standards and financiers.
    • Ministerial Roundtable (21 October): A closed-door session convening African environment, climate and finance ministers to align policy priorities and amplify Africa’s voice at COP30 and G20.
    • Deal-Making Platforms: Investor roundtables, project showcases, deep-dive workshops and curated networking designed to convert conversations into transactions.
    • Integrity & Compliance: Navigate voluntary and compliance carbon markets with rigor, exploring Article 6, regional frameworks and global best practice.
    • Project Visibility: Spotlight on investable, Africa-based carbon projects with real climate and community impact.
    • Pre-COP30 Momentum: CMAS will help unify African market positions and technical readiness in the lead-up to multilateral climate finance negotiations.

    Advisory Board: A Multi-Sectoral Powerhouse

    To ensure CMAS reflects Africa’s diverse needs and opportunities in carbon markets, an influential advisory board has been convened, including:

    • Andrew Gilder – Director, Climate Legal, South Africa
    • Andrew Ocama – Eastern Africa Alliance on Carbon Markets and Climate Finance, Uganda
    • Bianca Gichangi – Regional Lead – Africa, VCMI, Kenya
    • Brett Stacey – Director, Carbon Zero Verification, United Kingdom
    • Dr Olufunso Somorin – Regional Principal Officer, AfDB, Kenya
    • Heather McEwan – Regional Representative, Verra, South Africa
    • Javier Mazanares – CEO, Allen Manza, Panama
    • Lawrence Cole-Morgan – Carbon Credit Trading Lead, Standard Bank, South Africa
    • Mathis Granjon – Trader, Green Steps, Netherlands
    • Maxime Bayen – Operating Partner, Catalyst Fund, Spain
    • Olivia Tuchten – Promethium Carbon, South Africa
    • Reshma Shah – Lead, Carbon Markets, FSD Africa, Kenya
    • Bernardin Uzayisaba, Carbon Market Programme Specialist, UNDP, South Africa
    • Ibrahim Shelleng, Senior Special Assistant to the President, Government of Nigeria

    A Pathway to African Ownership

    “Africa is still not maximising its potential. We need to do things differently,” says Olufunso Somorin, AfDB. “One of the challenges is that there are many good project developers who have very good ideas, but they don’t have the resource to jumpstart their idea into an investable project.” Somorin continues: “The AfDB has created the African Carbon Support Facility, and we are hoping to start off with a $100 million capitalisation.” Among the goals are supporting countries towards market-creating policy shifts, and the bulk of the funds will provide resources to project developers and assist in validation costs. “The AfDB wants to increase the number of African-owned, African-based and African-led project developments on the ground,” he adds.

    According to Lawrence Cole-Morgan, Standard Bank, “the carbon markets provide Africa with the ability to monetise its significant carbon sequestration potential to fund socio-economic development and badly needed adaptation, while making a meaningful contribution to combatting climate change.” 

    Meanwhile, Andrew Ocama, Eastern Africa Alliance on Carbon Markets and Climate Finance, is of the opinion that “each country is at a different level of readiness to actively participate in the carbon markets. To the seven Alliance countries, these markets are an important avenue for finance owing to their accountability and the measurability of their outcomes.” 

    Event Details

    21 October – Pre-Summit Day

    • Carbon 101 seminar
    • High-impact dialogue by the Global Trust Project

    22–23 October – Main Summit

    • Plenaries
    • Ministerial Roundtable
    • Investor roundtables
    • Hands-on workshops
    • Sector-focused dialogues
    • Deal-making and networking

     

    Location: Johannesburg, South Africa

    Organised by VUKA Group

    With more than 20 years of experience delivering high-impact B2B events across Africa, VUKA Group is the independent, B-BBEE-compliant force behind platforms like Africa’s Green Economy Summit, Enlit Africa, Smarter Mobility Africa, and DRC Mining Week.

    Distributed by APO Group on behalf of Vuka Group.

    Contact:
    Tailor-made partnerships
    Natalie Kruger
    +66 (0) 65 614 8605
    Natalie.kruger@wearevuka.com

    Portfolio Director – Green Economy
    Emmanuelle Nicholls
    +27 (0) 83 447 8410
    emmanuelle.nicholls@wearevuka.com

    Website: www.CarbonMarketsAfrica.com  

    MIL OSI Africa –